Foreclosures, $3.40 pg gas? Forget about it....Prez. Asshat says those $600 checks will save economy

[marmar]

from ThinkProgress:



Bush: Rebate Checks Will Make Economy ‘Stronger Than Ever Before’»

Yesterday, President Bush visited a small business in Virginia and discussed his plans for reviving the economy. To make the economy “stronger than ever before,” Bush argued, we must wait for people to spend their rebate checks:

There’s a rough patch right now in our economy, but I’m confident in the long term we’ll come out stronger than ever before. One of the most decisive actions a government can take is to give people their money back so they can spend it, and that’s exactly what we’ve done. In the second week of May, a lot of folks are going to be getting a sizable check. And I’m looking forward to that day, and I know they are as well.

Watch it: http://thinkprogress.org/2008/03/27/bush-rebate/


Bush may want to start coming up with other options to stimulate the economy. While taxpayers have traditionally spent half to two-thirds of their rebate checks, this current economic situation is unique. “We’ve never done this in a period when American households are so deeply indebted,” said Economic Policy Institute senior economist Jared Bernstein. “While is a valiant thing to do, what you want them to do is spend it.”

Poll numbers bear out this prediction. A recent CreditCards.com poll finds that almost half the American public plans to either save their rebate checks or use them to pay off debt: http://thinkprogress.org/2008/03/27/bush-rebate/


Results from a CNN/Opinion Research Corp. poll were even more dramatic, with 53 percent of the public planning to “use their rebates to pay off bills” or “put the money in savings.”

This check, however, may be all the American public receives from the Bush administration, which has been willing to bail out irresponsible financial institutions but do nothing for struggling homeowners.


http://thinkprogress.org/2008/03/27/bush-rebate/

[TomInTib]

1. "a rough patch"

Kinda like Herpes or Smallpox, huh?

And you just gotta love that "One of the most decisive actions a government can take is to give people their money back so they can spend it" bullshit.

Hard Thinking on display, there.

[Virginia Dare]

8. Bubonic Plague? Just a rough patch in history..

we got over it, didn't we?...:eyes:

[TomInTib]

11. And wasn't it quite the Romantic Adventure?

I'll bet the Little Man would have yearned to be on the front lines of that one, as well.

[opihimoimoi]

2. Yeah...right....Recovery is "right around the corner" ,,,We heard that shit before..Dufus

Lying bastid...

[spartan61]

3. Was georgie born stupid or did he take stupid lessons?

I truly think he was born stupid and then took stupid lessons to enhance his stupidity!!

[Virginia Dare]

9. It took YEARS to get that stupid....n/t

[Nitrogenica]

4. Ours is going all towards bills. We need a little breathing room, so

we're paying off our 2 credit cards completely.

Maybe my wife and I will go out for dinner, but that's about it for our unnecessary spending of that rebate.

[Subdivisions]

5. Ours is going to be spent...on adding to our

food and supplies stockpile. We'll be buying barrels of sugar and flour, adding to our seed stocks, adding to our canned and dried food stocks such as rice and beans, and adding worse-case-scenario tools, supplies, and equipment.

[RockaFowler]

6. We are using it to pay property taxes

We either need it for taxes or insurance here in Florida. So, we won't get ahead at all!!!

[asjr]

7. Did he say which country we are borrowing

that money from?

[HughBeaumont]

10. Hey, at least we can retaliate to the people who say . . .

"Well, if you're so against it, why don't you give it BACK?"

When you think about it, if you buy a product, in a sense you ARE giving it back . . . to the nation that owns this added debt. So NOT giving it back would mean I should sit on it and wait for the bottom so I can buy a mutual fund at the right time for once. But when is that bottom going to happen?