Apparently, federal Reserve Chairman Ben Bernake thinks a second stimulus package is a good idea, and President Bush agrees. With these two on board, it is likely that either right after the election, or early next year congress will convene in a special session to try to pass an additional stimulus package to continue to stimulate the economy.
Will I am all for stimulating the economy, and, in reality, would not mind paying off some debt if I got some “free” money or some sort of windfall, this is not what I have in mind. I do not consider this free money, and I would really like to know where all of this money is coming from.
Somebody will have to pay for this, either in the form of:
1.) higher taxes, or
2.) inflation, due to the government “printing” more money
It almost seems as if the government, both political parties included, are pandering to the American public, and are saying “We’re sorry we let the economy get so bad due to bad oversight of the mortgage industry and Wall Street. Here, we’ll send you a check to make it all better.”
Seriously, they just passed the $700 billion bailout package a few weeks ago. How about giving it a little time to work? How about a little fiscal restraint? Don’t they realize that the lack of such restraint and the “I want it now” mentality is what got us into trouble in the first place?
What are your thoughts on a new stimulus package? Good idea? Bad idea? Should we wait a little while?
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you are right this is going to cost us.
but I can understand the thinking behind it.
try to get people a check around christmas time and you know most people are going to spend it.
giving that it’s likely our recission will be prolonged due to lack of spending, I can see the logic in this.
thought I think the money could be better used, then just handing people a small check.
Aboustley we need another stimulus check.Look how many people have lost thier jobs and having thier homes forecloused,alot of people are trying to live in thier cars,children are going to bed hungrary and cold. Just think what it would mean, people could fill up thier gas and kerosene and keep thier family warm another month without worrying thierself to death,They might could get food for thier family for another month also.Once again let the people that live on 10,000-20,000 dollars a year have a break. I DON’T know anybody that has it as good as JOE THE PLUMMER wish I had his promblem making over $250.000.00 a year and think my taxes would be raise a little.If I MADE THAT MUCH I WOULD BE GLAD TO PAY A LITTLE MORE!!!!!!!!!!When they talk about middle class they describe $4o,ooo-$50,000. they forget a lot of people live on alot less than that. Don,t forget how they raise the gas prices and food and we can,t GET minimun wage raised,I WISH BUSH OR HOWARD COBLE HAD TO LIVE ON MINIMUN WAGE AND SEE IF THEY COULD LIVE ON IT!!!!!!!!!SOJUST THINK WHAT A STIMULUS CHECK WOULD MEAN TO PEOPLE BEFORE THE END OF THE YEAR.We could possibly keep our children from freezing or starving and possibility get them a Chrismas gift!!!!!!!!!!
i have to agree, the people who state its free money and who use it for meaningless things and how its going to raise taxes ,, blah blah , you dont think the people who work and pay taxes as well who dont make the higher wages and are just trying to make it dont need it ? we have put in to the taxes and work just like everyone else .why not look at it on how to help our fellow AMERICANS who truely need it rather then poor you and YOU may have to pay more .. i see it as we all have to pay in to it . the country was not built on mine mine mine , or i did this or i do that it was built on a nation for all . most seem to forget about the ones who need it the most . i pay my share on payments for a car so i can work i pay higher gas prices i pay higher food bills , field trips for the school , how ever im sure i make less then most complaining about higher taxes. i pay them every time i go to the store just as you do . im no diffrent then anyone else except the fact i make 11 an hour wooohoo yea make it on that …
mother of 4 makeing it barely .
Yes, we need it i am a military wife and we are having a hard time paying bills i recently had to quit my job bc of my husbands work hours there is not much relief on bills and working only provides childcare and the food prices has seemed to of went up this past week seems that the new health care plan for employers to offer health packages has raised the food cost early i went to buy some bread at walmart it went up 65 cents in a week. gas has went down but the money for the new health programs seems to be coming from food cost. I think they should freeze everyones bils for 6 months and give us all time to save alittle to get ahead. Kind sad when you work all the time and still behind in bills. Almost seems better to live off the government programs these days. the last stimulas check did not seem to be correct on what was said we would get back. So YEs we could use the money. thank you and god bless all.
@ Vicki, Jessica, and Navy wife:
I do understand that another stimulus check could help a lot of people in need. (Although having read more on the proposal, it is not clear if it would include a check to individuals like last time). I hope that whatever they do, they consider the ramifications -i.e., will they have to raise taxes or will inflation increase? This could cause our cash flow to decrease (taxes) or buying power to decrease (inflation). I think the important thing for individuals and families to do is to do as much as they can to better their situation financially to make it through these tough times.
and serioiusly helping out banks for home owners does not help middle class with bills or putting food on the table i think they should help all people out not just home owners or big banks we the people are having money issues which cause the banks to have issues so the people need the money not the banks .
i think the government would be wiser by giving each person 18+ 450,000 stimulus payment. Right off of the top, tax it so roughly the government would take back 170,000. At that point, the economy would certainly be stimulated. Mortages would be paid off, houses would be bought, cars would be bought, credit cards would be paid off. And most importantly, since we the tax payers are paying for this deal—we would directly benefit from it. We would stop the gurus of GE, and AIG, etc from taking trips around the world while the company crumbles–o no it won’t crumble because the Government will save us. That is why I think that the money that is being taken from the people should go directly to the people. We won’t see the benefits from the monies given to these credit companies for a long time. Meanwhile, they have no worries.
@lea anne- I don’t disagree that money to stimulate the economy should go to the people- but I am concerned about what it will cost us all in both the short and long term. – I wouldn’t mind a check for $450k, though- although I doubt that will happen
What I really want, and I’m serious, is all the $$ I’ve paid into social security since I started working. Why should it be given to lazy SOB’s who choose not to work? I’m with RC, I’d like a check for $450k……………………………..
@BoPeep- Great idea! I’d love to get the money I’ve put in to SS and invest it on my own!
Now that the American tax payers have bailed out the banks and wall street, the banks are raising the rates on bank servives and crdit cards. I guess that shouldn’t be a surprise to anyone, greed never goes bellyup!