A Stimulus Check of $7,060.00 for Every Household!
Since the latest Obama Stimulus Package worth more than $812 Billion dollars has passed in the house, we thought it would be interesting to see what type of effect it may have on the economy, if it were just given back to American Households!
According to the US Census Bureau, there is an estimated 115 Million households in the US. Not individuals, but households. Some very basic math shows us the effect this could of had on boosting our economy, if everyone received a check, versus spending it on pork projects, which are bound to be further inflated before it passes the senate!
$812,000,000,000 / 115,000,000 = $7,060.00 for EVERY Household in America!
(Rounded figures)
Would You Like a Check for $7,060 ?
The Pork Stimulus bill is loaded with pet projects like adding Super Computers for NOAA, supplementing the Forest Service and National Endowment for the Arts, and building 300 miles of new power grid.At best, this may create a small percentage of new jobs, but how is it going to help You and I? Its not!
What if they just gave every US Household the money back into their pockets? The Bottom-Up theory makes much more sense in the current economy! Just imagine how many banks, auto manufacturers, local companies and retailers would have been saved from bankruptcy protection had the previous $850 billion TARP bailout been combined and sent back into the hands of the people who would have made a difference, consumers! That would have been a check of more than $14,000 for every household!
Jeff Jones says...
It’s a complex issue but one of the first things that Americans are going to need for this recovery to work is actual money in their pockets or the ability to rid themselves of debt.
The infrastructure type expenditures may just have to be delayed until the economic crisis at least stabilizes.
Link | January 29th, 2009 at 11:48 am
Mark says...
Agree completely Jeff!
Before we will ever see anything start turning around, there needs to be cashflow to project into the market.
Link | January 29th, 2009 at 11:55 am
Jake says...
My question is… will all of this mess help America to learn how to manage money? I believe alot of this mess came from people and their credit cards.
“hey, it’s credit.. if i can’t pay it back, i’ll just let it go and let everybody else suffer the consequences”
That seems to be the mentality of so many folks!
Link | January 29th, 2009 at 1:28 pm
Radley Bag Sales says...
I’m in the UK and we have similar stimulus package going on. But guess what? We can afford it even less. What the government has borrowed so far is going to take 20 years to pay back to 2007 levels. No wonder the pound has taken a pounding against the dollar. It’s a complete disgrace and plenty of people should be going to prison but they wont. Don’t get me started I could write for hours on this topic.
Link | January 29th, 2009 at 2:23 pm