Well, According to the latest from President Bush the economy may have slowed, but it’s something that they’ve planned for (I guess now that’s the reason for the stimulus package… didn’t used to be mind.. but it is now) and the stimulus package will take care of everything. The idea is that if only everybody that gets this money will run out and spend the money on all manner of goods that they might not ordinarily buy as a part of day to day expenses (like paying bills). I am not a hamster but it sure sounds like I’m being told that it could be considered a patriotic duty to start shopping for mens gold watches or other things.
The idea is that if everybody who gets this money does this, then it will pump enough money into the economy to get things moving again.
President Bush says that “it’s clear our economy has slowed” and urges taxpayers to spend the rebate checks due to them within months from a stimulus package.
The problem with it is that anybody with any debt will, if they have a lick of sense, use that money to pay down their debt (or maybe even pay something off!). That will do more people a lot more good in that if they’re out from under some or all of their debt, they’ll feel like maybe there’s a light at the end of the tunnel that is not the headlamp of an oncoming locomotive.