On Thursday the House and Senate approved the economic stimulus package. President Bush plans to sign it into law early in the week. "We are in a period of economic uncertainty and we've acted again," Bush told a conservative conference in Washington. "I want to thank the members (of Congress) for passing a good piece of legislation, which I will sign into law next week." "This bill reflects our principles. It is robust, it is pro-growth, it stimulates business investment and it puts money into the hands of American consumers," he added. The legislation will provide one-time rebates of up to $600 for individuals or $1,200 for couples, plus $300 for each child. Low-income people, including retirees on Social Security and disabled veterans who pay no income taxes, would receive checks of $300. The Senate added language to ensure illegal immigrants did not receive rebate checks. With the latest economic date suggesting the U.S. economy is stalling, the bill will inject nearly $152 billion into the economy this year and more than $16 billion next year. Some economists have said, however, that while the measures will buy time, they may not be enough to avert recession. Money...possibly coming your way. But from where? Will the gov be borrowing to give us the $$? Some say this is an advance on next year's tax return and not free money at all. What do you think?
19 comments:
Since they are just straight up giving us 300 dollars each, it leaves us to ask the question, Where are they getting this money to do this? Taxes. We give money to the government in taxes and we get it back as this 300 payment. They're just giving us our own money back, that's it. This won't help the economy much because it's just giving us the money back that we already should have. If they want to have an impact they should just cut taxes so we can have the money right away, and they won't have to worry about writing a billion checks.
I think that our country is already in a ton of debt. Is putting our country in debt billions more really going to help the economy in the long wrong? They said that recession may be unavoidable. They also said that this may just be next years tax return. If this is not free money then I don't think that this should happen. We will be put into more debt and that is going to be a big problem to deal with in the future.
Ok so it might sound like a great idea to the family of twenty kids but really this money is like a second tax return, this governemnt spending has to come out of our pockets at some point. Sure the "free" money sounds good but its just recirculating the same old cash.
Nosemaj was here
i can see where the governmetn is coming with this economic stimulus plan. hey i get some money. but do you really think that this will stimulate the economy. in order to stimulate the economy you need to buy something that is being manufactored or made in the US. waht if i feel like going out and making a down payment on a porsche. that doesnt help all that much. or since so many people are in debt already why would they spend the money they so greatly need in savings. i think there is another way.
I think this a good idea that this country is doing this. It might just help out this counry in the long run. I think that if the government would force the oil companys to lower gas prices this country would be just fine. All the peoples money are going to go to fill there gas tanks and other things not to bring up the economy in anyway.
OMG LOL ROFLMAO Yay For money to da people. Skeet Skeet Weather man bout to make it rain. Haha with money that is. It is good that people will now be receiving money but just like Alex said Where are we getting the money. AHHHH Not from the money tree!
I think this is not going to help our economy!! Where are we getting this money... We are borrowing it from another and we are helping them because we are buying products from China or else wheres not here. I wouldnt consider this "FREE" money nothing is free someone is paying for it.
Money is never free and it has to come from someplace. I guess i don't care where the money comes from, just as long as i get my check... I don't think this stimulus package will do too much to help the economy because most people will just put this money toward bills. If eveyone went out and spent this money like government wants us to, then maybe... WE LIKE MONEY
i think that this i vary good news. but if they are going to give use our advance for next year what is that going to do for the economy. a lot of poeple count on tax returns for bills.
I think that the stimulating package is goofy. I don't really think that it will benefit anyone in the long run. Why doenst the govt. just keep the money to help repay the debt. This wont help the economy much, people will just pay a few bills.
Sadly this package is probably not going to help at all in the long run. Sure you'll get the 300 and be like sweet 300, but really it isn't much and most likely won't help the economy because we are still paying for it in taxes and just getting a mini rebate. Bush is trying to help but he might as well be tossing the money in the garbage because that is about how much good this money is gonna do for the economy.
Yes they are giving us 300 dollars each, but yet again like everyone else is asking, where is this money coming from? I dont think that it will help the economy at all, oh yeah we get 300 dollars but why not just take that money and pay off our debt with it. Or just cut our taxes.
I don't think that this will help the economy much because people are going to put their rebates toward bills. Maybe of everybody went out and bought something it would help the economy. But where is the money coming from?
I think that it is pretty sweet that we will be getting more money. Hopefully, we won’t be taxed more because how else will be getting the 152 billion dollar. Hopefully this will add to our economic growth getting us into the right path of becoming out of debt and becoming more stable as a country.
It sounds like a good plan but no one knows where it is coming from. If it is next years tax return than it probably isn't as good as it sounds. 300 dollars would be nice but if it's not free money than it doesn't sound good at all. Besides why should we just get free money when our nation is so far in debt.
i think getting money in your pocket is a good thing no matter where it comes from causes it give people more buying power withc will in the long run help our econmy. and yes mrs. berg i did learn something in econ
I don't really agree with the stimulus package. People are mainly just going to pay bills. The three hundred really wont do much. Yeah, some high school students will be glad, but in reality, I dont think that it will boost the economy to be worth the effort... we will just have to see!
I don't think this stimulating package is really the answer..even if recession is unavoidable. The money seems nice but it will likely be used for personal debt or bills rather than buying tons of junk. The money could have been putted into better use like..oh i dont know.. maybe the national debt?!! And the big question..."Where is this money coming from??"
Long live bush...long live bush...long live bush...that man is a great...good work bud.. this legeslation is great... good way to use tax money to help boost the economy....hahah give it to us.@@@@!!! good work man... i am proud of you...
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