Another tax rebate!?!?!

[FindingNamo]

Posted: 1/17/08 at 10:37pm

Tax Rebates Urged to Rescue Economy

WASHINGTON (AP) - United for urgent action, the White House and Congress raced toward emergency steps Thursday to rescue the national economy from a possible recession, including tax rebates of at least $300 a person - and maybe as much as $800. Federal Reserve Chairman Ben Bernanke endorsed the idea of putting money into the hands of those who would spend it quickly and boost the flagging economy.

Okay, are these people INSANE? I know I was a liberal arts major and math has always caused me anxiety, but even I know this is stoooooooopid band-aid of an idea. Bush's folly in the Middle East is costing HOW MUCH per month? And they're hoping that people blowing 300-800 dollars (at a time when one of the major problems with the economy is that Americans aren't saving anything) is going to "rescue" the economy.

Oh man.
Tax Rebates Urged to Rescue Economy

[DAME]

Posted: 1/17/08 at 10:41pm

I just can't wait for him to be gone.

[Craig]

Posted: 1/17/08 at 10:46pm

How much does a vote for a republican cost?

[FindingNamo]

Posted: 1/17/08 at 10:50pm

I'm pretty bad with numbers but even I know that the money coming in column has to be bigger than the money going out column or I'm in trouble.

[Craig]

Posted: 1/17/08 at 10:59pm

The treasury says the national debt
Is climbing to the sky
And government expenditures
Have never been so high
It makes a fellow get a
Gleam of pride when they decide
To see how our economy expands
The country's in the very best of hands

[brdlwyr]

Posted: 1/18/08 at 12:34am

I love Lil Abner!

[Unknown User]

Posted: 1/18/08 at 2:43pm

Hey when we had a budget surplus, we gave everyone $300, so now that we have a huge budget deficit, the answer is clearly to give everyone $300- or MORE!

You have to understand- The Republicans have no desire to cut the debt or deficit- in fact, they want them both to be as high as possible, because then they can campaing about those "Tax & Spend Democrats" runnin gup bills than can never be paid. PLUS, if they get us deep in dept, they can also scream that things are out of control and that they have to CUT SPENDING to get things in line. The last thing they want is a government that actually does things, like inspect food plants or take care of its citizen's health.

[PalJoey]

Posted: 1/18/08 at 3:24pm

How did we get the deficit? Spending half a trillion on war.

How did we fix the deficit? Cut social programs.

[JerseyGirl2]

Posted: 1/18/08 at 3:44pm

But it's not really additional money is it? It's actually just like a refund anticipation loan, right? It's $300 that we won't get back in any refund that we would have gotten. They whole thing is just stupid.

[Calvin]

Posted: 1/18/08 at 3:46pm

Woohoo, now I have a down payment for my new UWS apartment!

[Craig]

Posted: 1/18/08 at 3:46pm

This country has been in deficit for years - and it's increased exponentially. There's never been a true "surplus" There might have been a "lower than expected" deficit for any particular year - but there's ALWAYS been one.

[Craig]

Posted: 1/18/08 at 4:00pm

Thank you GWB...

NEW YORK - Wall Street extended its decline Friday as skittish investors unable to hold on to much optimism about the economy drew little comfort from President Bush's stimulus plan.

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Investors pulled back from a big early advance, with the major indexes trading mixed as Bush began to speak. By the time the president finished announcing a plan for about $145 billion worth of tax relief, the indexes were well into negative territory.

"It's disappointed in the size of the economic growth package. Wall Street's showing its displeasure," said Kim Caughey, equity research analyst at Fort Pitt Capital Group in Pittsburgh. "Honestly, I think the institutional investors understand the limits to the government's ability to enact economic change."

The Dow Jones industrial average, up more than 180 points in morning trading, in late afternoon was down 128.92, or 1.06 percent, at 12,030.29. The Dow plunged 306 points Thursday amid deepening pessimism about the economy.

http://news.yahoo.com/s/ap/20080118/ap_on_bi_st_ma_re/wall_street;_ylt=ApOL_rPNRuaOqy1toVCkHq6s0NUE