Stimulus Package

February 14, 2008

The check’s in the mail! How many times have you heard that one? How many times have you ever said it then then hastily gotten out your check book, written a check, and mailed it. It’s like the statement, ‘I’m from the government and I’m here to help”. Sure you are! Or, we’re the Veterans Administration an we take care of all of our Vets! Don’t even get me started on that one.

But hey, I can use $1,500: in May, June, July, or maybe August?

Of course you do realize that this is not going to stop the recession don’t you? This is just a reminder to people that our elected politicians look after us. NOT! It’s an election year. Remember what WE, the politicians did for you? You gave us thousands and tens of thousands of dollars and we gave you a few hundered back. Yeah, why don’t we remember that one!

We are facing an increasing threat of stagflation that’s not been seen in decades. You know, low growth and increasing prices. Have you checked the grocery prices recently? I know you know what the price of gasoline or deisel is these days. A few hundred dollars (even though the total is north of $150 billion) isn’t going to bails out decades of abuse and misues of the economic system.

Gold is still above $900 an ounce, on it’s way to $1,000,which speaks volumes about how bad things are.

President Bush, flanked by Congressional leaders of both parties, signed a $168 million economic stimulus package Wednesday that he called “a booster shot for our economy.” The package, aimed at heading off a serious downturn in the economy, will send rebate checks ranging from $300 to $1,200 to 130 million Americans. It also provides tax breaks for businesses. Right!

Calling the bill “a really good piece of legislation,” Bush thanked members of the House and Senate “for providing immediate help to the American people.” This is not going to be your legacy #43. Finding bin Laden would help a lot though! In fact, killing that dude would probably cause the stock market to rise at least 500 points! Do you know of anything else that would have that impact?

Written by Ernie · Filed Under Daily Commentary