What will you do with your economic stimulus package check?

[glatt]

Well, hooker was in the first choice.

[HungLikeJesus]

Originally Posted by glatt

Well, hooker was in the first choice.

Yes, but only one person is planning to use those services.

[lumberjim]

Originally Posted by TheMercenary

No they are not. The tax payer is, and they will be coming for it in about 12 months with a vengence.

I'd heard that they were trying to make it non taxable this time.

I also heard that if you make 155k or more, you get bupkiss.

the phasing out part is intriguing.

[tw]

Originally Posted by TheMercenary

The tax payer is, and they will be coming for it in about 12 months with a vengence.

It’s still called drug addiction. Once we had a surplus due to responsible government. George Jr (Cheney) decided we needed economic stimulus. So the economy has been running on economic stimulus packages for seven years now. As a result, we have significant inflation and massive debts everywhere. The average American is now spending 104% of his income annually. More drug addiction. Don't worry. Be happy.

We promote 'core inflation' numbers to those who know by worshipping a political agenda. Those numbers say inflation does not exist. With more stimulus packages, home prices doubled. Accounting fraud (including SIVs and other Enron techniques) became acceptable because it "helps the economy". More 'stimulus' avocated by a political agenda.

Eventually stimulus packages will no longer mask economic reality. Economics must take revenge meaning a larger recession looms. No problem. Hand out more money (no different from a tax cut) because throwing money at problems always solves everything. "Reagan proved that deficits don't matter" - the political agenda. Agenda works on people who know what is told rather than use intelligence. Those outstanding bills come due four and ten years later. So the political agenda pretends those bills do not exist (even 'emergency spending' bills that do not appear on the budget - more economic stimulus).

Who is paying these bills for 2002 economic stimulus packages? Bills just starting to appear in the form of record debt, increasing inflation, the threat of stagflation, and selling America to foreigners.

So what do we do? Another economic stimulus package. Does anyone learn from the history - or did UG rewrite it? Same techniques created 1970s stagflation and a massive reduction in the American standard of living. No problem. Reagan proved that deficits don't matter. So many liberals (who call themselves conservatives) promote more voodoo economics. They are told economic stimulus packages have no downside - just like heroine.

Indicators of 'denied' economic recession included housing prices that doubled. To fix America, housing prices must return to where they belong, OR economics takes revenge elsewhere. Instead we throw more money mostly at those who created this mess. Go figure. But that is liberal economics that wacko liberals promoted in the 1970s and wacko conservatives promote today. Deja vue.

Any responsible economist knows (professional or amateur), only useful tax cut coincides with a spending reductions. A fact iterated by both John McCain and Warren Buffet. Both men have a history of using intellgence rather than a political agenda. Another stimulus package will not cure the problem: too many government stimulus packages that even included a bridge to nowhere. Amazing how many Americans would deny economic heroine addiction.

How did we solve the addiction last time? 20+% interest rates. How many learned that lesson from history - or would rather repeat it?

[Elspode]

Due to unfulfilled student loan indebtedness, we won't be seeing ours. Like our income tax refund.

[tw]

From The Economist of 26 January 2008:

There is no doubt that this is a frightening moment. But the narrow economic rationale for the Fed's emergency rate-cut this week was thin. America's weak economy means monetary policy can, and should, be loosened considerably. But the central bankers' next scheduled meeting begins on January 29th. Since lower interest rates take several months to work through the economy, accelerating rate cuts by a few days will not much affect the outcome. Yes, share prices had been falling sharply across the globe, but the slide was orderly and the system had not seized up. The Fed seems to have been spooked, and wanted to stop the markets' fall.

That is a dangerous path for a central bank to tread. Its success will now be identified with short-term movements on Wall Street. Indeed, as the stockmarket shrugged off the latest rate cut, the Fed's authority already looked diminished. As if to prove the point, shares soared only when the insurance regulator appeared. Ben Bernanke, Fed chairman and guardian of America's economy, moved Wall Street less than Eric Dinallo, whom nobody had heard of, saying he would rescue some insurers nobody understood.

Identified is what a responsible government can (should) do. Intead, a mental midget president would throw more money at a problem created by throwing money at the economy?

[Happy Monkey]

Originally Posted by Elspode

Due to unfulfilled student loan indebtedness, we won't be seeing ours. Like our income tax refund.

Is it automatically applied to the debt?

[Griff]

Originally Posted by tw

It’s still called drug addiction.

Good Lord, tw and I are in agreement.

[xoxoxoBruce]

Yeah... but after 5k posts he had to be right, sooner or later.

[melidasaur]

I don't know what I will do with it until it's in my hands... I'll believe it when I see it.