New Stimulus Package?

[chloe0724]

[chloe0724]

Where the heck are we getting all this money?

[BKOnce]

This time Bush will give everyone $5,000 per head.... and then declare... The whole USA went Bankruptcy!!

[Scott50]

Where the heck are we getting all this money?

basically by mortgaging our countries future.. future generations of Americans will be paying this off

[WhatMoney]

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...

[AngelinaCatHub]

Where the heck are we getting all this money?

WE PRINT IT.

[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]

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

[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.

[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.

[WhatMoney]

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

...and the Middle East.

[WhatMoney]

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

[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.

[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.

[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.