Prez. Bush sending out rebates

[PrincessPerky]

In general, I think the country should just go through its natural economic cycle: growth, slowdown (aka 'recession') and then again growth. Maybe they're seeing depression instead if nothing is done now

I personally don't see this 'recession' as such a bad thing...no I don't want another depression, but what is so bad about Joe Schmo not being able to afford a big screen tv? Sorry buddy but you don't need one. (or the equivalent luxury)

Yeah I understand the fearful theory that if folks stop buying big screen Tvs then TV sellers will lay off folk, and a never ending spiral of not buying and layoffs from there. But I just find it hard to believe...Can Americans really not adapt? I get the feeling that 'pioneer' families would shake their heads at the sheer audacity of Average Americans demanding an income equivalent to years pioneer labor. Are we really that lazy now?

[PauletteGoddard]

I can't believe what I'm reading. I actually agree with most of you, and you raise points and opinions I have proffered blogwise. Are you not worried that you will be shipped off to Guantanamo for your lack of loyalty and blind trust?

Whether or not the stimulus package happens, it was fun to daydream a bit about what I'd do with the package and try to work out in my head the payback rates for my actions... after all, we don't have to spend the $$$ all at once, right? We can invest some of it in ways that will generate more money so we can apply some consumer balm over the rough economic periods without endangering our comfort, right?

And what's with the "this is affecting the wealthy" media spin? Doesn't the mainstream media mean "this is affecting the six-digit-income earners who don't manage their money well, or who drink their own Financial Jim Jones Kool-Aid"?

[Taribor]

Then why is there a deficit and debt?

Because it also spends way more than it should.

[gackle]

Then why is there a deficit and debt?

Then why is there a deficit and debt?

SPENDING!

Then why is there a deficit and debt?

Maybe it's because we are spending more than we are saving?

Then why is there a deficit and debt?

Cause they spend too much on "fill in the blank."

Then why is there a deficit and debt?

Because it also spends way more than it should.

Umm, did anybody mention yet that our government spends too much?

[Scanner]

Yeah, like I said, everyone thinks the gov't spends too much until it comes to something important to them.

Anyone here want to surrender subsidized student loans and pay back the "back subsidies" they got on their education?

[gackle]

Click here

[PrincessPerky]

Yeah, like I said, everyone thinks the gov't spends too much until it comes to something important to them.

Anyone here want to surrender subsidized student loans and pay back the "back subsidies" they got on their education?

sure...wouldn't bother me in the slightest...never went to college...come to think of it, DH was a procrastinator..he only had one college loan, the rest of school he paid for out of pocket or via CC (Yes that was stupid)

My real point is, I would gladly cut govt spending on student loans...if govt quit subsidizing less folk would go...then the price would drop..supply and demand, when govt subsidizes the demand there is an inflated view of worth.

[shelbylovesmelby]

I want to know who's household doesn't earn under 110k that's probably more of the country than you'd think. I don't know anyone who makes that if they aren't a professional like a Dr or Lawyer ect. I know they want to stimulate the working class folks, not the Brittany Spears of the world who spend 102k a mo on entertainment... when there are folks out there w/ growing families who even w/ a college education don't make that in a year w/ 2 folks working!! Since jobs around here anything more than $10/hr is a blessing!

They should not only continue w/ college subsidies but make it more accessable to EVERYONE! I don't know how true it is.... but I could of swore immigrants got a huge discount to go to college here where as the rest of us unless we qualify for grants or have a college fund from dear ol' mom & pop... have to take out loans. And then when ya get out of school you have to pray you can even find a job!! The schools turn out more grads these days than there are jobs open. Shoot us parents cry for more teachers, but yet the schools have to cut their budgets, create bigger classroom sizes, close schools ect all to save $$ cause no one wants to pay higher property taxes. I'd rather pay higher taxes to know that my kids are being educated well rather than pay taxes and wonder why so many kids are failing.

Education and our Economy ect go hand in hand. If you don't have a good education to get a well paying job you can't spend, if you can't spend the economy suffers, if the economy suffers the jobs go away!

JMHO

[disneysteve]

What I don't get is where exactly this recession is supposedly happening. Lord knows it isn't happening anywhere around here. Malls are packed. Stores are packed. Restaurants are packed. People can't seem to find enough places to spend their money.

We just got back from a weekend in Lancaster, PA and it was mobbed everywhere we went. You might have thought it was a couple weeks before Christmas instead of a couple weeks after. And people weren't just browsing, they were buying. The checkout lines at several stores were 30 and 40 people long. Those registers were smoking.

Last Saturday, my wife and I had dinner at a nice Italian place. We arrived about 45 minutes early for our reservation and the place was mobbed. The lobby was packed and people were lined up outside in the sub-freezing temperatures.

There seems to be no shortage of people spending money at all.

[jasanderson]

Is it really truly free though? Wasn't it a few years ago they gave out rebates and then didn't you have to claim it as income on your taxes?

[LivingAlmostLarge]

It's easy to make $100k as a couple without being dr/lawyer. How so? Well two engineers make $50k/each with bachelor's.

I know accountants who make $50k. I know teachers who start at $35-40k and if they are married? I also know lots of people in sales who make between $40-50k/year and they are mostly in their 20s.

I believe that many people who are 35+ years old together, can make $100k. I bet many people earn $40k/year and if they are married...well then making $100k is possible with bonuses. A lot more than you would guess.

What about police officers, nurses, etc, who work lots of overtime? Many I know make $60-70k/year. A construction worker in OH makes average $70k/year.

So even in LCOLA they can make $100k.

[cs1992]

Rather than distributing rebates, how about promoting savings by not taxing unearned income this year? Furthermore, how about never taxing unearned income on households that make less than ~$200k annually?

[FrugalFish]

What I don't get is where exactly this recession is supposedly happening. Lord knows it isn't happening anywhere around here. Malls are packed. Stores are packed. Restaurants are packed. People can't seem to find enough places to spend their money.

I'd argue that it's happening here in my area of Southern California. I live in an area with a high number of subprime loans though.

DH and I bought our home in '02 and immediately started a full remodel. Seemed like any time you went to a home improvement store, the place was packed. Now the last couple of months, they are like ghost towns when you go in- even on Saturday morning.

We had a couple of GCs for places at the mall and decided to do that a week ago Friday- it looked like our big mall was about to close there were so few people in there. DH ordered something, so we had to go back this week to pick it up this weekend. I thought- "payday was this week for a lot of people, it will be busy." Nope, so very few people.

And I can't seem to go anywhere without a contractor approaching me with a business card attempting to generate business. They are coming around door to door a lot too. We haven't seen that in many years.

I definitely see the signs of recession here. With the subprime mortgage mess, the folks around here probably just ran out of available credit on their CCs sooner!

Oh, and I don't think a rebate would help all that much. Ours is going in savngs if we get one.

[neatdesign]

I just find it terribly ironic that the same government officials who moan that Americans aren't saving enough are now out there complaining that Americans aren't spending enough. What a mixed message that is.

I don't know why, but your post here reminded me of a Letter to the Editor that I read in last week's Washington Post.

Nail on head!

~ Jenney

[hawkster]

Typically I do not get into name calling, but Bush is an absolute Idiot...