Economic Stimulus Package--Stimulating everything except the economy
The tax rebate. The lasting memory of Pres. Bush that the US citizens should remember--the money that he gives to promote growth and stimulate the economy out of recession.
As the name suggests, rebates are never as good as they sound. With the increasing oil prices and the drop in the US dollar, just how much will that $600 rebate check be worth when May comes around? probably very little buying power left in that $600. In fact, it'll be better for the US government to subsidize the oil/gas prices so that all consumer goods (especially grocery and everyday necessities) do not continue to increase in price. Indirectly, Bush is giving away the $152 billion of US money to the oil-producing countries--stimulating their economy and wallet sizes instead of the US markets. I hear many people will use that money to pay down debt, save it in the bank, or pay for gas, milk, wheat, etc, anything other than spending it outright. What makes this increase in oil price interesting is that the wealthy class is getting more wealthy and the poor/middle class is getting poorer. The contrast is more obvious.
I'm getting stimulated alright--all fired up about the recession that we're heading toward and we keep on hearing denials from the heads of government, and have done nothing effective to stop it. It's funny how WWII brought the US out of the Great Depression, and yet this war on terrorism is doing exactly the opposite--taking US towards depression. With so much money already spent on the war, one can't help but wonder the good deed that those money could have been used for.
The tax rebate. The lasting memory of Pres. Bush that the US citizens should remember--the money that he gives to promote growth and stimulate the economy out of recession.
As the name suggests, rebates are never as good as they sound. With the increasing oil prices and the drop in the US dollar, just how much will that $600 rebate check be worth when May comes around? probably very little buying power left in that $600. In fact, it'll be better for the US government to subsidize the oil/gas prices so that all consumer goods (especially grocery and everyday necessities) do not continue to increase in price. Indirectly, Bush is giving away the $152 billion of US money to the oil-producing countries--stimulating their economy and wallet sizes instead of the US markets. I hear many people will use that money to pay down debt, save it in the bank, or pay for gas, milk, wheat, etc, anything other than spending it outright. What makes this increase in oil price interesting is that the wealthy class is getting more wealthy and the poor/middle class is getting poorer. The contrast is more obvious.
I'm getting stimulated alright--all fired up about the recession that we're heading toward and we keep on hearing denials from the heads of government, and have done nothing effective to stop it. It's funny how WWII brought the US out of the Great Depression, and yet this war on terrorism is doing exactly the opposite--taking US towards depression. With so much money already spent on the war, one can't help but wonder the good deed that those money could have been used for.
