Welcome to my blog where I discuss money, investing, politics, and anything else import in the world. I find it surprising that most people in their 30s have very little knowledge or interest in these areas. Of course everyone is interested in money, but very few take the time or have the discipline to properly save and invest it for the future or short term. For those who at least have the interest, I'll write about my experiences and methods of investing, and hopefully give you a head start in investing.

Tuesday, January 29, 2008

Government Stimulus Package: The Senate Strikes Back

The battle has probably just begun, but as I predicted in my previous post on the Government Stimulus Package, the Senate is trying to shove additional spending packages and "help" for the unemployed. This will probably continue for two weeks (Feb. 15), so I will update this post as it becomes clearer but they have already mentioned:
  • Cutting the rebate to $500
  • Giving the rebate to all earners, wealthy, Social Security recipients
  • Extending unemployment benefits

What the Senators are forgetting is that this is not an aid package to workers and unemployed, which are at historical lows. This is supposed to stimulate the economy and I still disagree giving people money to spend will have lasting effects. It will show a bump but no long term effects. Stimulating businesses, expansion, and entrepreneurs have a much larger impact on the economy, although it may take a little longer to see its effect. It is becoming a money grab and we can't leave anyone else, lest we offend.

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