Saturday, January 26, 2008

My Simple Minded Take on the Economic Stimulus Package

So let me see if I understand this.

America has a 9.2 trillion dollar debt.

The nation faces a recession.

And the way out of this, is for the Federal Government to give individual taxpayers, between 300.00 and 600.00 each. While married couples would get 1200.00 with an additional 300.00 per child.

Now where is this money coming from again?

Right, from a country in debt to the tune of 9.2 trillion dollars!

Furthermore, the hope is that when you or I get some of this chump-change, we will immediately go out and spend it, effectively, "pumping up the economy".

Isn't that like knowing someone who is in credit debt up to his or her ass and then having that someone dole out cash to others (cash that he or she borrowed against one of his or her credit cards), and then hoping that the person the money was given too would turn around and give the credit strapped person the money back to help pay his or her bills?

Sorry, I don't get it.

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