The Duck and the Dunderhead

Wednesday, January 23, 2008

Rebate checks floated as way to boost economy - CNN.com

“We’ve got mayors from both political parties here. We didn’t have a political discussion. We had a discussion on what’s best for America, particularly given the economic uncertainty we face,” Bush said. “I talked to them about my desire to work with the Congress to get a stimulus package passed, one that’s going to be robust enough to affect the economy, simple enough for people to understand and efficient enough to have an impact.”

Pelosi on Tuesday also said Congress and the president agree that movement on the plan is “urgent” and must be approached “in a bipartisan way,” but the particulars of the plan are not yet settled.

When you have duck-like Nancy Pelosi and our fearless leader both agreeing that we need a quick solution to benefit the country rather than their respective parties, it might be time to start trading in all your liquid assets for something more likely to hold its value. Like a couple of barrels of crude oil. Frankly, I don’t think that tax rebates are really the answer. Consumer confidence is way down, and a couple hundred extra dollars aren’t going to bring that back. I’m too young to know what it was like in the ‘70s and '80s when the economy was really bad, so I can’t compare it. But this is the most worried about the economy I’ve ever been, and I think I’m pretty financially secure. I don’t even want to see my next 401K statement. But I realize that I’m better off than a huge number of people out there, and some of them are really going to struggle if things get as bad as a lot of smart people are predicting. Anyway, I hope that Congress and the President follow up on their quick fixes with some real long-term ideas. Otherwise, it could be a long couple of years.

Posted in: Politics