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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