Monday, March 24, 2008

Bankrupt Advice

The news is packed with talk of foreclosures, recession, inflation, stimulus packages, and most annoying of all, bad advice.

The bad advice isn't from just anyone, but directly from the President of the United States. The advice I am referring to is the encouragement by the President for individuals to spend their tax return checks and "stimulus package" checks to help the economy. 

The lie that is being communicated indirectly if not directly is that by spending the checks the economy will improve, people won't lose their jobs, won't lose their houses, etc. The reality of the situation is quite different. First, the money in the stimulus checks isn't free, it is stolen from our children in the form of more debt. Second, the spending will do little of anything to improve the overall economy. The most it will do is a short term improvement in the economic indexes to make the government look good during an election year. Third, spending the checks will do nothing to improve the situation of the individual.  The exception will be those that have no choice but to spend the money on rising food and energy costs just to survive. The spending clearly isn't going to save an individuals job even if they turn over the entire amount to their company. This is just another bankrupt idea by this president to further bankrupt our country.

If an individual wants to use the money to help themselves, here is my prioritized list of what to do with it: 1) feed the family; 2) pay down debt; 3) invest in education; 4) save it. Not on the list: spend it on things you don't need just to satisfy our president.

Of course, the president delivering this message is no more irresponsible than starting an unjust war, decreasing national security, racking up record amounts of debt, shifting the tax burden away from the rich and onto the poor, destroying our civil liberties, destroying the environment, and slaughtering the values onto which this country was built.

Update 3/27/2008: Two new polls out indicate the the majority of Americans plan to save or pay down debt with their rebate checks. CreditCard.com poll says Half of America won't spend their 'stimulus' rebate. CNN/Opinion Research Corp. poll found that 41% of respondents plan to use their rebates to pay off bills, and 32% will put the money in savings.

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2 comments:

Momma "D" said...

You sound like you would make an awesome president yourself.We need a strong leader,not a puppet.I know the money I get will be going towards fuel and right back into the pockets of the rich.This also includes groceries which with the rising costs, makes it ridiculously difficult to feed my family and also the utilities we need everyday to live.I think your perspective is totally true and most people are afraid to admit it.Thank-you for writing this message.Maybe it will wake people up so they can notice their reality.

Anonymous said...

There are three types of people in the world a critic, complainer and a giver. Sound like you mastered two of the three.