New Stimulus Package?

[NowImDownInIt]

An example of our failing dollar is, that the dollar now is worth 1/3rd what it was worth in 1980! That's not so long ago...

[NowImDownInIt]

We could all find a good use for it, but it won't help the economy much. If we keep printing money, we might as well use it as wallpaper, because it will be worthless, not that it's worth much as it is.

[athomas]

Some of the things I have heard make this proposed stimulus sound very different than the last in the respect that money would go to states, roads and bridges, unemployment insurance, etc. I've heard more talk about those things than I have a check coming to my hands. I'm not sure what to think...it probably is a bad idea for a lot of the above mentioned reasons, but that's not to say my family couldn't put it to good use!

[NowImDownInIt]

This is a ploy, put into play just before election... The democrats want to look like they have the American people in mind, but really they only have themselves in mind. Our nation as a whole is in a bind and this will not bail us out... BUT this will sadly sway a lot of uneducated undecided voters to the Democratic ticket. Bought votes if you ask me. Bush already said that he will veto this if it ever gets that far, as he should.

[JRScott]

That time is now.

Most people just don't seem to get it, we will already be over 10 trillion in debt by the end of this year. In addition there is a 53 trillion dollar shortfall in entitlement funding through the next few decades. To give you an idea to fill that shortage and pay the debt every American right now owes around 180k dollars. These 'gifts' from the government are nothing of the sort. All they are are weights to future prosperity.

Edit: Miscalculated amount

[domaingamer]

Once October consumer sales reports come out, it will almost assuredly press our gov't into giving out another stimulus check. September retail sales were down 1.2%, I wouldn't be surprised to see October sales down 2-3%. No one is spending and we're doing everything we can to encourage it. The only problem is that by this time next year we will have a 1 Trillion dollar deficit, at some we'll need to start belt tightening.

[syn]

I actually would love to get a check. Last package we got I didn't get my $600 because I owed money to the IRS and they took it.

[momof5]

As much as I would love another $1800 check... I cannot help but think about the long term effect it will have regarding my own children. My daughter is in college now. Another child to follow next year. In a few years they will graduate and if all goes well have families of their own someday. The thought that any of my children will have to pay for this bothers me.
Its not enough money to do anything to the economy. Which is why we havent heard a word since the last one other than negatives.

Now on the other hand... since I probably wont have a choice in the matter. I am going to take mine and put it into the airlines. Hubby and I need an 'alone' time vacation.

[WhatMoney]

Well, I've been edjucatin' myself on economics and finance, as this is what I've learned so far:

[WhatMoney]

remember most of the European countries get their energy from Russia.

...and the Middle East.

[WhatMoney]

not going to happen... do you have any understanding of finance or economics?

Of course not! I'm posting in a Bankruptcy Forum!

Explain why you think whatever is not going to happen will never happen.

[JRScott]

Basically the Federal Reserve Bank prints up money as needed and loans it to the government.

I hope they don't pass another stimulus package. I encourage all to write their senators and congressman and say no to it. You can't debt your way out of debt. Every single one of us at this forum have learned that. It's time the government did as well.

During his Presidency Andrew Jackson saw the problems of a strong centralized banking system. He vetoed the extension bill for the Second Bank of the United States, and in his veto he included the following reasons for needing to abolish the Second Bank:

* It concentrated the nation's financial strength in a single institution.
* It exposed the government to control by foreign interests.
* It served mainly to make the rich richer.
* It exercised too much control over members of Congress.
* It favored northeastern states over southern and western states.

What's sad is you could say this about the Federal Reserve just as easily today. It has overexposed us to control from foreign powers and made us a less free nation.

If we continue to spend money we do not have, most likely the dollar will suffer from hyperdeflation by the 2030s. In essence it will become practically worthless where it takes thousands, perhaps millions to equal a euro. That's the path we are on.

Though we perhaps could replace the dollar, it would not be easy. It would also not be without cost. If we changed our monetary system and then just didn't pay the old debts it is very likely we could face a war with China, Russia and other debt holders. Keep in mind also that the United States today does not have the manufacturing capability it had in WWII. Don't place your hope in NATO rescuing us either in such a war, remember most of the European countries get their energy from Russia.

[AngelinaCatHub]

not going to happen... do you have any understanding of finance or economics?

Hey, bring me up to date. Do not misunderstand, but share what your opinion is. Thanks. 'Hub

[Scott50]

I think at some point in the future the USA will just hit the Reset Button, and all this debt will disappear. We all may need to learn chinese or arabic as a second language, but hey as long as the government pays for my language lessons...

not going to happen... do you have any understanding of finance or economics?

[AngelinaCatHub]

Where the heck are we getting all this money?

WE PRINT IT.