Bush is admitting the economy is in trouble, and will be laying out a stimulus plan:
Taxpayers could receive rebates of up to $800 for individuals and $1,600 for married couples under a White House plan. Although lawmakers were considering smaller rebate checks and more money for food stamp recipients and the unemployed, Bush told congressional leaders that he favors income tax rebates for people and tax breaks for business investment.
Federal Reserve Chairman Ben Bernanke entered the stimulus debate Thursday, endorsing the idea of putting money into the hands of those who would spend it quickly and boost the flagging economy.
I don’t think this is going to amount to much, but I won’t complain if Bush wants to cut me a check to send some of my money back to me. There’s only so much effect fiscal policy is going to have on the economy. To me this move is purely political, as it will make people feel better about the Administration, and Republicans in 2008. The Democrats will have to pass it, because if they oppose it, guess who the Republicans are going to blame for failing to pass the Presidents stimulus package? This move, I think, has a lot more to do with the 2008 elections than with the economy.
Well giving me my money back is much better than redistributing it to others. (take a look at Clinton or Obama’s “economic stimulus” plans…) I agree it’s purely a political move but it still means more money in my pocket, which is always a good thing.
We’re closing on a house next month, I just want interst rates to be lower than whale shit!
I’d like to see govt spending cuts but am not going to delude myself.
We’re closing next week on a house. We locked in at 6% but since then they’ve dropped a few points. It’s a good time to buy. Money’s going to cost more to borrow soon, or be worth less.
I don’t think it matters. At the rate the sonofabitch is dismantling the country and its constitution, economic woes will be the least of our worries.
hey – that’ enough to buy a handgun each for me and the mrs. Along with a longarms or two and some ammo. That’s how I’ll plan for the election :)
I agree with staightarrow, it’s gonna take more than a paltry rebate to right this shitty situation they’ve gotten us into.