Will you be stimulated?
Ernesto and I have had this back and forth on the whole "stimulus package" the government has set up and I am thinking it will have little, if any effect on the economy. I am predicting a brief rise in consumer spending and then back to the dreary status quo. Obviously I am no expert, and not even seasoned economists can say for sure what will happen and believe me, I would certainly like to see a positive outcome from this, but I don't think it bodes well.
Don't get me wrong, I'm still happily accepting this money, even though it is borrowed from ourselves and/or China, who we already owe about a trillion dollars to. Who cares, right? I'm guessing there are people who will make some purchases and lots of other people who will use the money to pay off debts, like all the oil bills incurred over the brutal winter, or some will stock it away to pay for gas for their cars. It ought to last a couple weeks, anyway. Ours is going to help pay for private school for our eldest. If we were good Americans, we'd use it for a vacation or a big TV or I could buy twenty pairs of really good shoes. I wish we could spend it on something really fun or lavish, but we've got a mortgage and three kids, so there you go.
How will you be stimulated this summer?
Don't get me wrong, I'm still happily accepting this money, even though it is borrowed from ourselves and/or China, who we already owe about a trillion dollars to. Who cares, right? I'm guessing there are people who will make some purchases and lots of other people who will use the money to pay off debts, like all the oil bills incurred over the brutal winter, or some will stock it away to pay for gas for their cars. It ought to last a couple weeks, anyway. Ours is going to help pay for private school for our eldest. If we were good Americans, we'd use it for a vacation or a big TV or I could buy twenty pairs of really good shoes. I wish we could spend it on something really fun or lavish, but we've got a mortgage and three kids, so there you go.
How will you be stimulated this summer?
6 Comments:
At 6:05 PM, AnnetteK said…
Hmmm. 20 pairs of really good shoes sounds excellent. I, unfortunately, won't be doing that though. I had a much bigger tax bill this year than I expected (I'm used to getting a rebate!) because of my freelance work, so my stimulus check will be paying that off my credit card. Blech.
At 10:50 AM, Anonymous said…
Ernie and I have already disagreed on this subject. I'm with you for the same reasons. I don't know if you remember back to W's first big decision of his presidency, to hand out similar tax cuts. At that point he had inherited a balanced budget and a surplus! And I already knew that it was mistake. And while I am still stiing on the fence between Hilary and Barac, I had to agree with him on the gas tax rebate. It wouldn't make enough of a real difference to any one individual to offset the loss to the highway funding and related jobs lost. It is little more than a token bandaid on the severe issues that trouble so many Americans, from educational costs, to healthcare costs, to the way that corporations and financial institutions are allowed to gouge consumers at will, with no regulation. So, that's my rant for the day! Thanks for giving me a forum for venting! "Abue"
At 11:15 PM, Idaho Dad said…
We pretty much spent our check on gas and hotel rooms for our recent road trip.
Easy come, easy go.
At 3:22 PM, Anonymous said…
Ugh! We'll be using the money as a portion of our oil bill for the upcoming winter season. Fun, fun.
At 1:32 AM, Creative-Type Dad said…
I'm buying candy with mine. And maybe a really nice bike.
At 12:15 PM, Kristen said…
Catnip- Stupid credit cards!!
Abue- I think you should begin a blog...and I guess you don't have to pick between Obama and Hillary anymore...
Phil- Remember when gas was like 97 cents a gallon? I do, because I'm so bleepin' old...
Anon- that's where ours would have been going, too...I am thinking of buying some extra thick parkas this year and just making the kids wear them all day in the house. We can pretend we're doing some winter camping...
CTD- (Can I call you CTD?) Maybe you could get a bike made of candy?
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