The Faulty Logic of Politicians on Stimulus

Looking for a sure-fire example of why the economic stimulus package - just sent up to the White House by Congress today - will not have the intended effect? According to The Gavel:

"Put hundreds of dollars into the hands of more than 130 million American families including seniors and disabled veterans – who will spend it immediately to reinvigorate the economy"
Ummm.... so.... they seem pretty sure that the refunds will go right back into the economy by way of purchases... given all the debt load people are shouldering, is that really a safe assumption? If/when we receive ours, I know exactly where it's going: toward lingering credit card debt. Maybe I'm just crazy with fiscal responsibility and conservatism these days, but I doubt that I'm alone.

A word of caution: don't expect these rebates to magically solve anything...

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This page contains a single entry by Ben Tomhave published on February 7, 2008 9:10 PM.

Romney Drops Out, But Not Without More FUD was the previous entry in this blog.

Patch Tuesday to be a Doozy is the next entry in this blog.

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