From what I understand, there is no stimulus package being debated in Congress, nor a proposal from the President-Elect. The $500 rebate is one option (among others) that is being considered as part of a stimulus package, but it is far from certain that it will be part of the deal. The government will have to spend in order to create jobs and prevent a deep downturn in the business cycle. Don’t slow the descent, stop it. No one likes the trillion dollar debt, but a trillion in lost productivity, wages, etc. doesn’t sound too good either.

What did American voters expect when we brought the Federal calf into our living room and fed it vast quantities of revenue hay in hopes of an unlimited supply of warm milk? It doesn’t matter who does the milking or which pail they put it in. Regardless of the complaints on both sides, the carpet still gets soiled by the huge Federal cow that is now too big to get out the door and back in the barn.

We asked for it. Now we’ll just have to hold our noses and deal with it. Welcome to the Great Society.

I find it ironic, even as a conservative, that republican leadership is talking restraint when they handed my wife and I a check for $1200 last spring even though we both worked and then turned around and give banks $350 billion as well as guaranteeing trillions of debt. Republicans need new leadership and I need some one to build a decent road if we are going to spend money.

kendall,

I agree with you. The stimulus package is working its way through congress now. Obama had hoped that it would be ready to be signed right after his inauguration but it now looks like early February. Earlier this week he went to Capitol Hill to talk to congressional leaders about it, at that time Republican leaders signed on since half of the tax cut portion would be for businesses.

As for the Trillion I agree that it is a bitter pill to swallow. However, to lose a Trillion in wages would be worst, even conservative economist say this is needed. Unfortunately the current deficit numbers, from the COB, does not include much of the stimulus spending.

Bob, my problem is that we are not swallowing that trillion dollar bitter pill. Our grandchildren will. And they’ll be washing it down with a big dose of additional interest on the permanent debt. A college freshman with a no limit credit card is more trustworthy than our national leaders of either party.

Just like the bubbles in dot-coms, housing, stock market, and cropland values, the national debt bubble must eventually burst. The social and economic fall out for our descendants will be many times worse than anything we’ve experienced in our lifetimes.

Tim E., spending our tax dollars has been perfected by both parties. There may be 3 or 4 people out of the 550 in DC that give a shit about what is spent in the budget. They quickly get drubbed out of the debate.

A#

I understand your problem with the deficit. If I had a choice I also would be against a trillion dollar deficit. I have been arguing for a more balanced budget.

We will be swallowing at least part of the bitter pill, for this has to lead to inflation. The Fed Reserve is currently worried that inflation is not high enough.

The problem is we have run out of choices. Most economist agree that we cannot come out of the recession without the spending and without it risk going into depression. One of the reasons they say this is the two fastest growing economies, India and China, are contracting and with no expanding economies of any size we have no one to stimulate growth.

A $500 dollar check is a gimmick, a payoff to those that voted for gov’t largesse.

Permanently reducing my income taxes benefits me every day of the week. That’s how you spur the economy. If the loonies on the Left think $500 will help the economy, how ’bout an extra $100 every week by reducing my income taxes?

Oh no, we don’t want that much economic activity, we just want to give you $500 so you feel like we’ve done something for you.

Tango

You talk about the loonies on the left are for the $500.

The last two times checks were used was the idea of the loonies on the right.

I agree, but now the loonies on the Left are proposing an additional $500 when it’s already been proven that it DOESN’T work.

Spur the economy by PERMANENTLY reducing tax rates. You don’t spur the economy by giving people that don’t pay income taxes, an income tax rebate check. It’s ludacrous.

Flat tax at 15% would get us out of this mess because everyone’s tax rate would be set in stone and they could plan on having extra money in their wallet every pay day. EVERY pay day.

But, it won’t happen because the Leftist loonies are tied up with their “punish the wealthy” mantra.

Raise taxes on the wealthy and we’re in this recession for a long, long time.