Debates
07 Mar 08
07 Mar 08
Congress passed and Bush signed a stimulus package that will send tax rebates to many families and businesses. But some fear it will come too late — or that people will use the money to save or pay off debt, rather than go on a spending spree that would boost the economy.
Bush gently urged people to do the latter. "When the money reaches the American people, we expect they will use it to boost consumer spending," he said.
http://news.yahoo.com/s/ap/20080307/ap_on_go_pr_wh/bush_economy
I don't get it. Doesn't paying one's debt get the economy rolling? Why do we need to spend it on luxuries instead of our debts?
07 Mar 08
Originally posted by SeitseYes, I disagree. The famous Protestant Work Ethic has as a central tenet NOT buying luxuries but rather saving and investing one's money.
Sorry, dude!
There you go 🙂
So, any ideas? Do you disagree with me that the U.S. is built to consume and from such dynamic gets its might?
08 Mar 08
1 edit
Originally posted by AThousandYoungWhat many people don't realize is that the stimulus package is simply a government shell game - robbing Peter to pay Paul. The government doesn't produce anything, so the money is either going to come from taxpayers or from more government IOUs. So it really doesn't matter how we taxpayers use the money, it isn't going to successfully stimulate anything in the long run. Sadly, it's just election-year politics, not sound financial policy.
Congress passed and Bush signed a stimulus package that will send tax rebates to many families and businesses. But some fear it will come too late — or that people will use the money to save or pay off debt, rather than go on a spending spree that would boost the economy.
Bush gently urged people to do the latter. "When the money reaches the Ame debt get the economy rolling? Why do we need to spend it on luxuries instead of our debts?
08 Mar 08
1 edit
Originally posted by Mad RookAgreed. I'm surprised the democrats have gone along even.
What many people don't realize is that the stimulus package is simply a government shell game - robbing Peter to pay Paul. The government doesn't produce anything, so the money is either going to come from taxpayers or from more government IOUs. So it really doesn't matter how we taxpayers use the money, it isn't going to successfully stimulate anything in the long run. Sadly, it's just election-year politics, not sound financial policy.
Seems that their best interests are served if the economy suffers going into November. I wonder what sort of behind closed doors deals were struck to get their buy in.
But the public debate should go a step further.
Republicans and Democrats are working together to give us "free" money and praying to their respective God's we'll spend it rather than save it. Instead of debating whether this will work, why is there not a epiphany among the masses as we deeply question what we expect from government.
Is the government's role to enhancing prosperity or preserve freedom?
I contend that if the government takes on the role of enhancing prosperity that we'll loss both prosperity and freedom in the long run.
09 Mar 08
2 edits
Originally posted by AThousandYoungThe people who wrote that don't get it either. Unless you're saving under a pillow, savings becomes investment, which fuels growth. Same goes for paying off debt so long as that debt is held by an agent or institution that will invest the money.
Congress passed and Bush signed a stimulus package that will send tax rebates to many families and businesses. But some fear it will come too late — or that people will use the money to save or pay off debt, rather than go on a spending spree that would boost the economy.
Bush gently urged people to do the latter. "When the money reaches the Ame ...[text shortened]... debt get the economy rolling? Why do we need to spend it on luxuries instead of our debts?
09 Mar 08
Originally posted by AThousandYoungYah... maybe in the 30's or something!
Yes, I disagree. The famous Protestant Work Ethic has as a central tenet NOT buying luxuries but rather saving and investing one's money.
You don't have industry any more. You import more than you export, more money flows out of your country than into it.
All the US has become is a nation of fake tits, heavy beer guts, buying ever more crap they don't need and being spoon fed fat 10 times daily.
Go on Dr. Phil... help these poor people!
09 Mar 08
5 edits
Originally posted by AThousandYoungThis is a common example of a hair brained scheme by politicians designed to stimulate comsumer spending in the hopes of aiding and facilitating bottom lines of businesses in the US. Will it help? Probably not, however, the money is better left in my hands to pay down debt than it is in the hands of politicians who refuse to do so!! The thought of paying down debt is so repugnant in Washington that they even have trouble with the thought of you doing it.
[i]Congress passed and Bush signed a stimulus package that will send tax rebates to many families and businesses. But some fear it will come too late — or that people will use the money to save or pay off debt, rather than go on a spending spree that would boost the economy.
Bush gently urged people to do the latter. "When the money reaches the Ame debt get the economy rolling? Why do we need to spend it on luxuries instead of our debts?
Not to worry though, soon the government will reinstate taxes that will more than take back those rebates as well as further impeede the US economy. Economic policies that come out of Washington is nothing short of watching a Three Stooges episode.
09 Mar 08
Originally posted by AThousandYoungJust to follow up, it is my obeservation that the US government has no intention of ever paying down the national debt. The thought is that the US economy can outgrow the growing national debt. For example, if the debt grows by 4 % and the economy grows by 6% the debt is actually shrinking even though it is growing. Therefore, the health of the US economy is vital in regards to dealing with the national debt because they have not intention or current ability in paying it down. The big problem comes when the economy sputters or fizzles out as it is doing now. I guess they had not thought that far ahead. Go figure.
[i]Congress passed and Bush signed a stimulus package that will send tax rebates to many families and businesses. But some fear it will come too late — or that people will use the money to save or pay off debt, rather than go on a spending spree that would boost the economy.
Bush gently urged people to do the latter. "When the money reaches the Ame ...[text shortened]... debt get the economy rolling? Why do we need to spend it on luxuries instead of our debts?
09 Mar 08
1 edit
Originally posted by whodeyTHIS government maybe. Clinton payed it down last time.
Just to follow up, it is my obeservation that the US government has no intention of ever paying down the national debt. The thought is that the US economy can outgrow the growing national debt. For example, if the debt grows by 4 % and the economy grows by 6% the debt is actually shrinking even though it is growing. Therefore, the health of the US economy ...[text shortened]... ers or fizzles out as it is doing now. I guess they had not thought that far ahead. Go figure.