Finally we have bipartisan support for something! All of the presidential candidates from both parties have a stimulus plan for the economy. Nobody has come out against a tax rebate. Maybe I am stupid but doesn't giving everybody money make our national deficit much bigger? Are we cutting spending in the military, welfare, farm subsidies and earmarks? If not, where are all these money coming from? Wouldn't this cause the dollar to devaluate further? By going deeper into debt, wouldn't that mean more of our treasury bonds will be owned by countries like China? It seems like yesterday everybody says that we should save more and not go so far into debt. Now the government is encouraging us to spend more.
I know the theory is that people get the rebate, spend it and get the economy moving and then there will be more taxes collected etc. I am not sure this will work even if the money is delivered to people quickly. I for one will deposit my rebate check in the bank. I don't have anything that I need the buy right now and so why I should I spend it. I think there are a lot of people who would do the same. I think this is part of the economic cycle and we will naturally get out of the recession in due time. Maybe 2 to 3 years. We don't have a disaster situation as in the 1920's. The world economy is basically sound. The subprime mortgage problem that ignited this mess will correct itself. As people lose their houses, the people who had been shut out by the obscene price increases in the past few years will jump in and buy. The people who were not greedy and were patient will benefit. The economic engine will move again.
This is an election year so all the politicians will be for a stimulus deal. It is not a long term solution for the challenges of our economy in the future. We should be looking at the factors that determine the economic status of our children and grandchildren, like education and energy policies. Instead of tightening our belt, we look for short term gratifications from our politicians. Well. we get what we asked for.
Tuesday, January 29, 2008
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I agree with you. I don't understand why they didn't just give the money back on tax returns. In that way, you would be giving the money to actual tax payers and it could be done electronically if need be.
ReplyDeleteI really wonder if sending these checks out to people will actually do anything. I think the economy is so bad right now that people will put it in the bank and pay bills.
So Guilliani and Edwards have decided to end their campaigns. What are your thoughts? I'm in shock that Guilliani's handlers had him put all his eggs in one basket. He was a front runner and they decided to play it safe? This is the total opposite of what happened with McCain's team and now he's a front runner.
On the other side, the two who everyone thought would be there are now there. I'm a bit surprised that Edwards didn't wait until after Super Tuesday, but maybe he saw the writing on the wall and didn't want to expend the energy and money to come in third again.
-LBOAYM
I agree that Giuliani's strategy is strange. He only showed slightly more interest in campaigning than Fred Thompson. I thought that Edwards would stay past super Tuesday to get as many delegates as possible and be a possible king maker at the convention. Of course now Clinton and Obama are eyeing his support. I am not sure what he can get out of it since I doubt he can be a vp candidate.
ReplyDeleteI thought that McCain looked bad in the debate in Simi Valley. He came across as nit-picking against Romney and not a straight talker. He also looked arrogant. But it may not matter as he is getting all the endorsements. The only chance Romney has is if Huckabee quits and throws all the conservative support to him and then he can hope that McCain runs out of money before most of the Republicans jump on his bandwagon. Luck really has a lot to do with this. If Huckabee hadn't run, Romney would have won Iowa and probably South Carolina and the race is completely different.
The debate today with Clinton and Obama was more a conversation than a debate. Both sides were playing it safe. I thought Clinton won most of the debate except at the end when the issue of Iraq hurt her. She shoud have admitted her wrong vote a long time ago. The more she tries to explain it, the worse it sounds and lets Obama use the topic over and over again.
McCain will never be known for his debating or a polished personality. Maybe that's what appeals to people. I watched recently that Huckabee was blasting Romney and calling him the more liberal of the three. Sounds like he'll back McCain when he drops out...and I would expect him to drop out soon.
ReplyDeleteI am pretty surprised at how polished Obama is. He's the opposite of McCain as far as presentation goes and it's hard to rattle him. I'm still not convinced that he would be a great president based on his low experience.
Romney's group is making a ton of mistakes but he seems like a teflon-type where any blunder he makes seems to slide right off.
His handlers decided to show that he's one of the people last week and had him go into a KFC, where he proceeded to peel off the skin and eat the chicken with a knife and fork. Why the heck didn't his people get him something else to eat?
Then there was the incident where he was in an urban area and he decided to talk "hood" to some people. I realize he doesn't have much support in the urban areas but stuff like that just does not endear you to the people.
There's a video of Clinton going around the internet and her involvement with Walmart and her and Bill's shady dealings. It will be interesting to see what happens Tuesday. She's losing ground in California and this race could get real tight.
Will Edwards back anyone or will he wait? I can't see him as a candidate for VP with either of the front runners.
-LBOAYM