This could only be devised by our elected officials who can afford to take the "generous" $600 tax rebate and apply it to their new 46" HDTV plasma screen TV they've been itching to buy. This dirty band aid on a septic wound will do absolutely nothing to save the patient (the US economy).
95% of the American public will be using this money towards paying their monthly bills, including late payment fees from banks and creditors and sudden 30% interest rates from credit cards due to late payments.
Us older folk have lived through a few of these "rebates" and will agree with me, it doesn't do a stinkin' thing for what ails the economy because the people that are hurting can't afford an HDTV with a plasma screen or a new car. Maybe they can get that oil change they've been putting off for months but they won't be using it to boost consumer spending overall. Most of it will be going towards debt payments and necessities.
But here's the question....Who is going to pay for this? The answer is...we are! So that "hefty" 600 bucks per person is quietly being added to the Federal Debt and our children and their children will be paying for it in the years to come.
Here is a real economic stimulus package: Bring every single American troop home from overseas tomorrow and re-station them at our borders and ports. Stop handing out all foreign aid immediately. Eliminate false "wars" on terrorism and drugs. Eliminate the bloated and useless Homeland Security, and every other "alphabet" government department that is stealing OUR money for their causes. An immediate freeze on spending, Etc., etc. Just like an individual's debt re-consolidation program, we'd be back on our feet in five years...but anyone who has been through that knows that you can't spend what you don't have until you've paid your debt off. We have nine trillion dollars of debt to deal with right now and this phony rebate scheme isn't going to do squat to stop that locomotive from crashing into your life.
I won't get into who is responsible for destroying America in seven short years...it doesn't take a genius to figure that out. But I think my economic stimulus package is better than his.
Economic Stimulus Package?
Published: January 24, 2008, 9:10 pm
Last Edited: January 24, 2008, 9:16 pm