What to do with an 800 rebate?
- Thread starter veritas007
- Start date
Here's the problem w/ that though - those who get their money will, essentially, try to leverage it up through more debt. Cheap money and crazy debt is what's causing this problem - all this money will do is make even more debt
Yea, a rate cut is really going to help, lol. It will just make the problems even worse
Still nothing concrete out of this, it looks like there me be a chance the Dems try to stall it.
AT&T Yahoo!Mail Yahoo! SearchSearch:Welcome, hugh_blanton
[Sign Out, Member Center ]Finance HomeHelpFinance HelpAT&T Help
Welcome [Sign In] To track stocks & more, Register
Financial News
Enter symbol(s) BasicPerformanceReal-time MktDetailedChartResearchOptionsOrder Book Symbol Lookup
AP
Bush Pushes $150B Economic Aid Package
Saturday January 19, 3:02 pm ET
By Jennifer Loven, Associated Press Writer
Bush Promotes Economic Package Worth Up to $150 Billion, but May Clash With Democrats
WASHINGTON (AP) -- President Bush said Saturday "the kind of spending projects that would have little immediate impact on our economy" should not be part of any stimulus package, setting the stage for a possible clash with Democrats.
Bush and the Democratic-controlled Congress are emphasizing their desire to work together as they rush negotiations on a short-term measure to prevent the economy from falling into recession. But while there is broad agreement that one-time tax rebates for consumers will be part of the package, there are different priorities at work for the rest of the measure.
Bush wants to devote a portion to incentives for businesses to invest. Democrats want to add spending for food stamps, unemployment benefits and infrastructure projects.
"This growth package must be built on broad-based tax relief that will directly affect economic growth -- not the kind of spending projects that would have little immediate impact on our economy," the president said in his weekly radio address. "This growth package must be temporary and take effect right away."
Rep. Barney Frank, D-Mass., speaking for the Democrats in their own radio address, said any stimulus package needs to help Americans hardest hit by the weakened economy. He said Democrats want to work with the president and congressional Republicans on a plan that includes tax rebates for most Americans, as well as one-time increases in some programs.
"Economists agree that middle- and working-class people are likely to spend that money in a way that will effectively stimulate the economy and create jobs," Frank said.
"We must cooperate to enact immediately aggressive measures that respond to the economic downturn, while we simultaneously continue a healthy debate about the role of government in a modern economy," Frank said.
On Friday, Bush said any plan, to be effective, would need to represent roughly 1 percent of the gross domestic product, or about $140 billion to $150 billion.
Treasury Secretary Henry Paulson said the biggest chunk of the economic package the administration is considering would be targeted to individual taxpayers, though he would not talk about how big these checks might be. A Republican official, speaking on condition of anonymity because the package is not finalized, said the president was hoping to target about $100 billion toward individuals and about $50 billion toward businesses.
Paulson said Bush doesn't support cash for people who don't make enough to pay federal income taxes. The administration also does not back non-tax related ideas, favoring simplicity to ensure a package could be passed and implemented quickly, Paulson said.
"We're not looking to decorate a Christmas tree," he said.
Some Democrats were disappointed.
Sen. Edward M. Kennedy, D-Mass., said he agrees with Bush that a plan must be approved quickly, but he said it must help working families.
"The people who are struggling every day to pay their bills, heat their homes, and pay their mortgages need our help now," Kennedy said. "We must act quickly to provide immediate help for those in crisis."
--------------------------------------------------------------------------------
Copyright © 2008 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service
Copyright © 2008 The Associated Press. All rights reserved. The information contained in the AP News report may not be published, broadcast, rewritten, or redistributed without the prior written authority of The Associated Press.
AT&T Yahoo!Mail Yahoo! SearchSearch:Welcome, hugh_blanton
[Sign Out, Member Center ]Finance HomeHelpFinance HelpAT&T Help
Welcome [Sign In] To track stocks & more, Register
Financial News
Enter symbol(s) BasicPerformanceReal-time MktDetailedChartResearchOptionsOrder Book Symbol Lookup
AP
Bush Pushes $150B Economic Aid Package
Saturday January 19, 3:02 pm ET
By Jennifer Loven, Associated Press Writer
Bush Promotes Economic Package Worth Up to $150 Billion, but May Clash With Democrats
WASHINGTON (AP) -- President Bush said Saturday "the kind of spending projects that would have little immediate impact on our economy" should not be part of any stimulus package, setting the stage for a possible clash with Democrats.
Bush and the Democratic-controlled Congress are emphasizing their desire to work together as they rush negotiations on a short-term measure to prevent the economy from falling into recession. But while there is broad agreement that one-time tax rebates for consumers will be part of the package, there are different priorities at work for the rest of the measure.
Bush wants to devote a portion to incentives for businesses to invest. Democrats want to add spending for food stamps, unemployment benefits and infrastructure projects.
"This growth package must be built on broad-based tax relief that will directly affect economic growth -- not the kind of spending projects that would have little immediate impact on our economy," the president said in his weekly radio address. "This growth package must be temporary and take effect right away."
Rep. Barney Frank, D-Mass., speaking for the Democrats in their own radio address, said any stimulus package needs to help Americans hardest hit by the weakened economy. He said Democrats want to work with the president and congressional Republicans on a plan that includes tax rebates for most Americans, as well as one-time increases in some programs.
"Economists agree that middle- and working-class people are likely to spend that money in a way that will effectively stimulate the economy and create jobs," Frank said.
"We must cooperate to enact immediately aggressive measures that respond to the economic downturn, while we simultaneously continue a healthy debate about the role of government in a modern economy," Frank said.
On Friday, Bush said any plan, to be effective, would need to represent roughly 1 percent of the gross domestic product, or about $140 billion to $150 billion.
Treasury Secretary Henry Paulson said the biggest chunk of the economic package the administration is considering would be targeted to individual taxpayers, though he would not talk about how big these checks might be. A Republican official, speaking on condition of anonymity because the package is not finalized, said the president was hoping to target about $100 billion toward individuals and about $50 billion toward businesses.
Paulson said Bush doesn't support cash for people who don't make enough to pay federal income taxes. The administration also does not back non-tax related ideas, favoring simplicity to ensure a package could be passed and implemented quickly, Paulson said.
"We're not looking to decorate a Christmas tree," he said.
Some Democrats were disappointed.
Sen. Edward M. Kennedy, D-Mass., said he agrees with Bush that a plan must be approved quickly, but he said it must help working families.
"The people who are struggling every day to pay their bills, heat their homes, and pay their mortgages need our help now," Kennedy said. "We must act quickly to provide immediate help for those in crisis."
--------------------------------------------------------------------------------
Copyright © 2008 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service
Copyright © 2008 The Associated Press. All rights reserved. The information contained in the AP News report may not be published, broadcast, rewritten, or redistributed without the prior written authority of The Associated Press.
I predict another 51% / 49% election outcome.
It's the Voting machines again. It amazes me that after 8 years nothing has been fixed. Well it's always nice to see a good show.
http://news.yahoo.com/s/ap/20080119/ap_on_el_pr/campaign_sc_turnout
fuck have fun with it buy some coke and a hooker