By definition our economy is NOT in a depression cycle. So let me ask you this, why is our national government sending out a “stimulus rebate”? Early this year President Bush asked Congress to pass a 145 billion dollar package with would enable the government to send out tax incentive checks to taxpayers. These incentive checks can be used any way the taxpayers see fit. The idea being that it will stimulate our declining economy and save us from the dreaded “D” word. This is an unprecedented idea to help stimulate the economy. Particularly since once again, we are not in a depression. In my opinion our government needs to maybe take a second look at its ideas on how to help, as Bush puts it “give the economy a shot in the arm.”We need to take a look at how to create more US based jobs and ways to help out small business. Granted, Bush said he would give aide to small business in the form of tax relief, but we need to focus on growing our economy from within. Some would argue that is exactly what the tax invectives will do, but many will also tell you that they are going to put their money right in a savings account, and this will not help our economy. We do need to find a way to provide temporary relief for families in need, and perhaps this stimulus check will do just that, but it could backfire completely. Let me ask you this: who do you think will be paying for these checks down the road? Our kids, or their kids, or theirs?
In 1933, President Roosevelt passed a series of efforts to help stimulate and eliminated the economic despair faced by millions of Americans, this was called the New Deal. Many people opposed these initiatives because they believed that it gave the federal government too much power, and it was growing far too large. The New Deal created the Social Security Administration and Welfare. Did Roosevelt know how social security would be doing in 2008, of course not, but I would bet you that it is much worse that he would have expected. My point is, is that our government should take a second look at how it plans to stem our economic crisis. Otherwise future generations will have some new government subsidized time bomb to deal with.
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The recession has set in and is sinking the Battleship of the United States economy. Responding to your blog, A Second Look. I agree with the idea that our country is spiraling towards the inevitable economic down turn. You asked “Why is our government sending out a Stimulus Package?”, if the government doesn’t believe the economy is failing? Truth is the government knows the economy is bad and will be getting worse. I agree with you that the stimulus package will help the economy temporary but Uncle Sam’s broken economic leg will not heal with this check. Its just an attempt at slapping on a band aid provided by the legislative doctors. An extra 600 dollars for an individual, 1200 for couples and up to 300 per child doesn’t affect the economy negativity, but as my peer stated, who will pay for this, how will the economy balance this rebate out in the future. Our current administration isn’t looking to provide citizen’s with those long term solutions and has again decided to go for the quick fix. As with the wars in the middle east. The government officials want only to distract the public long enough until a new president is in office and will be forced to clean or provide the nation with solutions. Our current administration doesn’t believe that borrowing money from the Chinese which America already owes billions to and turning around and giving the money to the Saudi’s for oil at a higher cost. When wages raise so will spending. Receiving a bonus check or rebate from the government does help but so many are behind or in debt so they won’t spend or will wait to see how much is left over after the bills are paid. The one’s who don’t are probably the ones who didn’t rend their mortgage contracts and now expect the government to provide them with financial aide. America needs tong term solutions for economic stability and I don’t believe the tax rebate checks in 2008 will provide that solution. As long as America is in war with Arabic countries oil cost will rise, and the economic state of America will continue to worsen.
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