Am I the only one who this makes a little nervous. Especially lump sum payouts that increase the deficit like the one described below.
“Under the deal, nearly everyone who earned a paycheck in 2007 would receive at least $300 from the Internal Revenue Service — $103 billion in total. Most people would receive rebates of $600 each, or $1,200 per couple. Families with children would receive an additional payment of $300 per child. Workers who earned at least $3,000 last year — but not enough to pay income taxes — would be eligible for $300. ”
Overall, 117 million families would receive rebate checks, including 35 million with earnings too low to have qualified under an earlier Bush proposal that limited checks to income tax payers. Rebates would be limited, however, to single taxpayers with adjusted gross income up to $75,000 — up to $150,000 for couples. Above that, the benefit would phase out until hitting zero for individuals with adjusted income of about $87,000, $174,000 for couples.
The money would be borrowed and would increase the federal deficit. ” – Washingtonpost.com
Ok, so people get a little check and spend it on who knows what. So a bunch of stores have a sale and people go and blow them there, a couple of folks delay having their gas cut off by an extra couple of weeks. How much stimulation will the economy REALLY get at the expense of the overall budget especially while we are in the midst of a long, costly war.
I am still mulling over this one. What do you think?
Wow! It was so exciting, I was up all night! February 6, 2008
Super Tuesday was a blast. I sat up until the wee hours watching the returns, guessing and calling people and all kinds of good stuff. Heck, I even had snacks. And my late night companion . . . my mother-in-law. Go figure. Well, she fell asleep a few times, and she thinks G.W. might actually have been a good president, but she was willing to listen to me pontificate half the night, so I can’t hate. (Well, maybe on the GW thing.) We commented on how frighteningly pulled back John McCain’s wife looked and we amen and mmm hmmmed our way through Barak Obama’s speech. (Michelle wore a bad suit by the way.) We missed Hillary Clinton’s speech, we were watching Nip/Tuck in between (hey, gotta have some levity). I agreed and disagreed with the talking heads and watched practically holding my breath as the Missouri retunrs were posted. I also laughed when CNN mentioned over and over how “notoriously slow” the cities and urban areas of Missouri count. You just knew they were killing themselves to not say St. Louis even counts votes on CP time. LOL!
By the way, what the heck is up with “super delegates”? Why are some people super? Do they have special powers? I would be pyssed if I was a delagate and told I could nto be “SUPER”. LOL!
It was a great night. It started getting this old poli sci major’s political juices flowing again. Its been a long time since politics were sexy to me. For quite some time, I have been just pyssed off. I always vote so I can complain, but wholly uninspired. I am feeling tingly now. I have watched, I have waited, listened and read, not said much because I just wanted to feel folks out (as in candidates, I don’t care what other dunderheads think). Now, I am getting in the groove. I don’t know if I am ready to go out in the rain and knock on doors on election day the way I did in 92, I may be a bit too old for that one. But I am getting pumped up!