I don't agree with Mike Huckabee on much, but when he said that this rebate is foolish he is spot on. We are going to borrow billions of dollars from China, that we have to pay interest on, to send it out. Consumers will then go out and buy stuff, probably not stuff made in America, but more likely stuff made in China. I'm glad the experts figured out a way to stimulate the economy a bit - unfortunatly its not ours!
well China's economy is going to surpass us at some time at the rate their economy is growing. The world is a lot more connected now. I think we are helping ourself and helping them.
Can you explain to me exactly how this massive redistribution of wealth is going to add anything to our economy? It's just feelgood crap. Congress should stick to investigating baseball, at least then they can's screw up the rest of the country.
i generally agree with this, and that we should be putting money into direct local investment, starting at ground zero: energy policy. But until then, don't forget it won't be a total loss. For all the money we send out of the country, we make our neighbors richer, and they in turn often buy our exports, whether it be wheat, pirated copies of Microsoft Windows (haha), GM cars, or genetically modified seeds. Here's my fix... And I'm not running for anything. http://scriabinop23.blogspot.com/2008/02/open-letter-to-barack-obama-and-all.html
Wealth is not being distributed or redistributed. Money is being printed on the basis of domestic political necessity (whatever that is but it is an election year and blah, blah). There is nothing to back up the currency except the good will of whomever you might like to pick. lj
If we had not been overspending every year for many decades, we wouldn't have $7 trillion or whatever in debt. We wouldn't be needing any stimilus now. So instead, they throw a couple more logs onto the flames that are devournig our future.
IT IS wealth redistribution. It is taking money from future tax payers (you and I, and our kids, etc) and giving it to the "people" of the US, many of whom pay no taxes, nor will they ever. It sucks, but let's face it. The current political state of this country is in shambles as both parties have decided that it is worth sacrificing the future in order to be elected/re-elected. I think it's time for a political revolution. Ron Paul had the right message, but unfortunately was not the right messenger.
If you consider a non-supported, fiat currency to be a form of wealth then you have a broad point. One way to look at what the pols do is to subscribe to the notion that they don't believe it is a form of wealth and treat it accordingly. lj