Some of the more politically astute out there in blogging land are starting to get restless — they’re realizing yesterday’s happy news about the tax rebates/stipends/”free money” checks loudly trumpeted by President Bush and the House leadership, uh, may not happen. Or if the checks do get put in the mail, they won’t accomplish their purpose.
As I repeatedly pointed out yesterday, the whole $145-$150 billion economic aid bill still has to go through the Senate and be signed into law by the President before ANY checks are going to be put in the mail. Senators, especially Democratic senators, could easily reshape all or parts of the plan, leading to a stalemate and no action being taken.
Assuming that hurdle is overcome and the bill actually makes it into law, let me ask you this: What will you do with your $300/$600/$1,200+ check when you get it next May, June, or even July? Will you do the “right” thing and quickly spend the money, preferably on something you don’t need but something which will create (?) jobs and stimulate the economy?
Sure you will. Me, too. I’ve already got my eye on a Lexus I hope to have in time to take across country for that vacation I’ll fund at the beach using the rest of the money from the rebate.
Uh, you do realize that was sarcasm, right?
Many feel the rebates/stipends whatever you want to call them are going to be way too little arriving way to late to keep the economy on track and avoid that R* no one likes to talk about.
I dunno. I’m no economist. I’m just a guy who reads the papers.
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