Friday, February 8, 2008

Thanks For the Tip

Whoopee! We're all going to get a check from the government! I think it's going to come with instructions to run right out and spend, spend, spend (helps fight the terra, you know).

If you're like me--a "single" making less than $75,000--you'll get a "rebate" for $600. If you're married with one kid and make less than $150,000, you'll get $1200, plus a $300 sweetener to help pay off your child.

Set aside for the moment the dubious wisdom of giving away money when the national debt is (as of this writing) $9,234,580,862,826.21, with a proposed FY 2009 federal budget of $3.1 trillion (adding a paltry $800 billion to that debt). Also fail to think about how that budget cuts pretty much every public service, but adds significantly to the Pentagon's budget ('cause they've done such good work with what we've been giving them).

(Actually, in that context, the $170 Billion that the rebate will cost seems like a drop in the bucket...let's double it!)

So, whatcha gonna buy?

That's the patriotic question, right? If this is designed to spur the economy, then our duty is to run right out and spend it.

I'm thinking they might hold on to mine, as I owe some back taxes. Even if you're not in my shoes, consider this: Average household debt in the United States is somewhere in the neighborhood of $23,000. Average income is somewhere in the $44,000 range.

So, thanks for the tip, Uncle Sam. Apparently I'm not the only one who feels this way. $170 Billion is a lot of bones for a stop-gap measure that's probably not going to work. But what the hell. It's good for some pointless pandering and grand-standing.


C Neal said...

It's all going to overseas anyway - spend at Wal Mart, and most of your dollar will go to China; or pay off your credit card debt, which is underwritten by Chinese or Emirate banks.

Smartest way to spend the stimulus is to invest in overseas stocks as soon as the check comes in, and wait for your countrymen to pay your dividends.

the Drunken Housewife said...

It's just going to go towards taxes for us (we fear a big tax bill for not withholding enough to cover some side income). No rampant consumerism expected here.

I share your opinion of the idiocy, though.

Last time there was one of these stupid tax-time giveaways, charities were promoting donating the money. I haven't seen that kind of campaign this time around.