I just read a story about President Bush’s call for a $140 billion bail out for the economy.
I’m sorry, I meant $140 billion “economic aid package.” Forgive my hysteria. I saw it includes a call for immediate tax rebates — as much as $800 for individuals and $1,600 for families — and it must have lost my head. Seriously, I didn’t lose my head and I had heard earlier this morning that he was going to call for a rebate — and that all good politicians and puzzled economists are hoping we good people of America will SPEND that money, not save it, not use it to pay down debt.
I’m no economist, but the whole point seems to be that spending a rebate stimulates the faltering economy, hence keeping us way from the R Word, but that saving it would only lead us further down the R Word Road. (No, I’m not talking about “Republican,” I’m talking about the other R Word — er, uh, Reason.) Of course, you and I know (don’t we??) that spending to pay down debts and putting a bit of that money aside for the proverbial rainy day wouldn’t be all bad, would it? Let the Rs of the world rage and fear about upcoming Rs, but don’t let them force you to do anything with your own money. If rebates come, great; if not, oh, well. Life goes on.
When you reach my age, you realize that Rs come and Rs go, but the country, the economy, the people of America always recover and go on. Becoming too cynical and fatalistic, I guess.
Ah, well, what do I know? I’m just a guy who reads the papers.
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