Tomorrow night we will get to hear the last State of the Union Address from President Bush and he is going to give us some money in the form of tax rebates. I don't know where that money is coming from, but we're getting it. The country has spent over 1/2 a trillion dollars on the war...can't even fathom what that amount equals, I don't think I learned trillion in school forty years ago. Now we drop trillions like pennies.
Money in May, gee, I wonder what I will do with it. Today, our local paper had an article about what people will be spending their tax rebates on. Like a writer on the opinion page noted, anything we buy to "stimulate" the economy basically works to keep shelf stockers and cashiers in jobs, most of our goods are made in other countries. My prediction is that for those who have credit card bills, they will use the rebate to pay off some of their charges and those who don't have bills will be saving it. Rising gas prices lead to increased food bills and combine that with medical insurance increases leads me to believe that won't be much local economy stimulating going on around here. Based on where we will be bill wise, I think our rebate check will be going to the bank. Time to save for the leaner times that I see around the corner. ( Tough choice, HDTV or college tuition...NOT!)
I guess that means I have to thank President Bush and our politicians, but I would like to know, where are we getting this money from? Will this just be added to that debt that you have built for my children to inherit? What do you think about this rebate? Good or bad? Will it work to stimulate the economy?
If my best friend qualifies for the rebate, he's spending it in London, where he's going with this family over spring break. What does that do for the economy, I wonder.
ReplyDeleteLikewise, if I get one, I'm taking it along on vacation with me, too. (I'm traveling domestic, though.)
I'm no economist (can't even count past ten without taking off my shoes), but I guess the government believes that if we all THINK there's a recession, there will be a recession. And that if we THINK they're working on it and it's a priority for them, our confidence in the economy will rise and so will our spending, and recession can be averted.
Like you, I wonder if there aren't better ways to spend all this money. Like all those government-sponsored programs during the Depression. Putting people to work on repairing bridges and train tracks and airport runways. Renovating public buildings. FDR stuff. If everyone who wanted a job had one, if we saw a huge infusion of cash into projects I would pass every day, THAT would make me feel better about the economy and my country.
I retired after not being able to find a teaching job. I did work a couple months last yer but doubt I will see any money.
ReplyDeleteGood to see you posting again.
I call it welfare! I don't know why people who don't pay a single cent in taxes should get a tax "rebate"?
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