Arkansas Blog

Economic stimulus package will probably be recorded in history as the worse effort to boost the economy since the Hoover era. Let's just hope there's not another major disaster that puts such a decision burden on pea brain bush.

Max, you're a cynic. Couldn't be that you have someone in your extended family who takes her whole paycheck across that big river every month, then has to "borrow" grocery money, could it? Seems to be a lot of that going around.
Oh. What am I going to do with ours? Got a homeowner's insurance policy due next month and I was going to have to raid savings. It'll pay part of that. I suppose I should thank Pea Brain for that . . . I suppose . . . at the same time as I thank him for the deepening recession we're not really in, the high gas and food prices, ever skyrocketing drug costs and on and on and on, ad finitum.

BREAKING NEWS: Not in a recession.

Uh, Red....take an Economics course, brother...'cause that's not what that means.

I did. Got an A.

Then you already know that a 0.6% increase in GDP is not a clear sign of the end of a recession. Just as long as everyone else knows the spin you put on the story, I'm ok.

The economic stimulus rebate plan is a nonsensical, politically motivated $170 billion drain on an already strained U.S. Treasury. My household's $1,200 rebate will be returned immediately to the IRS as part of our second quarter estimated tax payment. Here's Dave Barry's take on the ill-conceived plan:

"This year, taxpayers will receive an Economic Stimulus Payment. This is a very exciting new program that I will explain using the Q and A format:

Q. What is an Economic Stimulus Payment?
A. It is money that the federal government will send to taxpayers.

Q. Where will the government get this money?
A. From taxpayers.

Q. So the government is giving me back my own money?
A. Only a smidgen.

Q. What is the purpose of this payment?
A. The plan is that you will use the money to purchase a high-definition TV set, thus stimulating the economy.

Q. But isn't that stimulating the economy of China?
A. Shut up."

Damnit! Stimulating the US economy was going to be the winning point of the debate over HDTV vs. just sending it to the kids.

My wife's winning point: it will save a phone call.

Just like I know that a 0.6% is not an indicator that we are in a recession.

Durango:

Funny stuff.

Do what you can. Buy American.

There's some email spam supposedly from the IRS with the IRS logo at the head of the message. It is easily spotted because of the bad grammar so common in blog postings nowadays. However, because so many people are used to seeing bad grammar and it is the incompetent Bush administration we are talking about, many will assume that it's legitimate. It links to a Canadian site - bunches of baskets - for a form to request your refund to be deposited in your bank account. At least part of the economic stimulus and the bank accounts of many victims will go to crooks in Canada. Perhaps they will spend their loot in this country. Here's the text:

"Over 130 million Americans will receive refunds as
part of President Bush program to jumpstart the economy.

Our records indicate that you are qualified to receive the
2008 Economic Stimulus Refund.

The fastest and easiest way to receive your refund is by
direct deposit to your checking/savings account.

Please click on the link and fill out the form and submit
before May 01th, 2008 to ensure that your refund will be
processed as soon as possible.

Submitting your form on May 01th, 2008 or later means that
your refund will be delayed due to the volume of requests we
anticipate for the Economic Stimulus Refund.

To access Economic Stimulus Refund, please click here."

I can think of only one business left in the U. S.------YARD SALES.

"Just like I know that a 0.6% is not an indicator that we are in a recession." - ArRed

That may be true, but one indicator showing a tiny bit of growth is not a good sign when all other indicators are stagnant or dropping. Bear in mind that your own article points out that much of the growth is connected to 6% increase in government spending. And this little tidbit, also from your article:

"Achuthan believes that the first quarter GDP is likely to eventually be revised to a negative number, and that a negative GDP for the second quarter is also likely. But even if first quarter GDP is never revised below zero, he is certain the economy is already in recession."

CERTAIN that the economy is ALREADY IN RECESSION. Kinda debunks your whole argument when your source disagrees with you, doesn't it?

So what is everyone going to do with their share of the stolen money? I say stolen because future generations will pay for your rebate check with interest.