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How many of you plan to spend this money rebuilding your websites, building new sites, or using it to support your webmastering duties?
Now, if/when the government decides to issue checks to businesses, that's a different story.
Seems to me that the deficit is one of the primary factors in the current downturn. So this will just result in a future recession.
Very short sighted approach fueled by an election year.
As for the money, it might be time to upgrade my monitor - or, more likely, to add a 2nd monitor to my primary system.
I don't REALLY need the money as I'm CEO of a NYSE mega bank (make that, 'Banc' )
I dislike the idea of more borrowing to fund the "rebate".
But I understand the $100 billion loan comes with a brief teaser rate which appealed to Congress. Reset, after the election. Everything will be put on an enormous Capital One Visa card with ultimate rate of 22%
U.S. Takes Out Debt-Consolidation Loan [theonion.com]Under the terms of the consolidation, E-Z Debt Services will repay the nation's estimated 45,000 creditors, a majority of whom are foreign investors, insurance companies, banks, and other privately held entities. In return, the U.S will make a single monthly payment of $9.26 billion, adjusted for inflation, to E-Z Debt every month for the next 70 years.
"We are proud to enter into this arrangement with the federal government," E-Z Debt spokesman Phil Rizzo told reporters. "We know how hard it is when you're buried under a mountain of bills with seemingly no way to get out. When you don't know where else to turn, E-Z Debt is there to help get you back on your feet."
Seems to me that the deficit is one of the primary factors in the current downturn. So this will just result in a future recession.
Well, someone with more economic knowledge than myself thinks pumping $190 million into the hands of Americans will create a surge in spending.
I think with so many folks struggling these days, many will either hold on to their rebates, or use them to pay off debt. Neither of these scenarios will support the government's plan.
What's odd is the current unemployment rate is still very low by historical standards. Shouldn't we be reserving these measures for really desperate times? A few families (or flipper investors) being evicted from too-big homes they never should have bought in the first place doesn't make this "1929."
However, the upcoming election makes it impossible for legislators to oppose it.
Shouldn't we be reserving these measures for really desperate times?
Yes, classic Keynesian economics would dictate that is what you do. But you are also suppose to run a surplus during the good times to pay back the debt you accumulated during the bad times.
Its seems that they are only doing half of the of the economic model .... the easy less couragious half. Just putting off the tough choices to the children and grandchildren of todays taxpayers. Gutless leadership.
