Some, including the Federal Reserve and the White House, are now arguing that we need a second stimulus package, in addition to the one that was passed back in February. The last stimulus took about 4 months to fully implement and give the economy a temporary boost. The problem with such an approach is that it's a quick lift, just like a sugar high. It did nothing to increase consumption beyond a few months. The February stimulus package gave GDP growth a jump around June and July of this year, but not much else. A new stimulus package MIGHT be helpful to get the economy through the next few months. The likelihood of the recession deepening over the next few weeks and months is very high and certainly having some extra income on the side of the individual consumer would be helpful to prop up spending. However, the government needs to make more beneficial investments that will produce jobs and will have long lasting effects beyond temporary boosts in consumer spending. Investing in upgrading our crumbling infrastructure, education, and rebuilding our manufacturing base would all be good long term strategies to pursue. A stimulus package is just a short term fix really.

Rivka:  "So, Moishe, vut happen to you?"

Moishe:  "I don't know, Mah. I didn't have enough money to fill up my tank and I ran out of gas. When I stepped out of my car, I got run over. First, by an NBC News van. Then by a CNN van. I got run over by a lot of TV News vans. One after another. Then, by some stock brokers running for their lives. Then, by a banker. Then, a nut stopped to help me fill out a voter registration card. But, they said I only needed to sign my name. I remember these people. I saw them at the cemetery last week when we were visiting Father's grave. They were moving from grave to grave, taking notes. Then, by two campaign caravans with Secret Service agents. The first one was white cars. The second one was all black cars which were being followed by a Brinks armored truck. No one stopped to help me! It was awful, Mah. Everybody in such a hurry!"

Rivka:  "Not to worry, Moishe. Let me fix you a nice cup of tea."

Moishe:  "As long as you're going to the trouble, can I have a tuna sandwich, as well?"

Rivka:  "Don't push your luck, Moishe."

The 700 Billion in Socialism hasn't even been used yet the markets have been up and down.  No Recession / Depression Yet.

What does Eminent mean again?

Getting a check to pay the minimum balances on credit cards ain't the problem kids- we have to spend less, invest more, and take smaller steps toward fiscal responsibility at the personal and macro level. 

The plan itself was a joke, a piece of bait for election year votes. In a larger context, it is yet another sign of the irresponsible money management of the American government. Now the USA is one step closer to bankruptcy.

A very interesting analysis from the Indypendent came out a while ago, pointing out that almost all of the stimulus was eaten up by the increase in gas prices. A gallon of gas now costs 76 cents more than it did when Congress passed the stimulus. If "multiplied by the 137.97 billion gallons of gasoline consumed annually," you get $104.85 billion. They conclude: "So the net gain of the much-touted stimulus is about $2 billion for all Americans or a little more than $6 a person! In other words, all those stimulus checks are already toast from gas price alone. This is not even considering the rapid rise in food prices. Perhaps it would have been simpler just to have the U.S. treasury pay ExxonMobil, BP, Chevron, Shell, etc."

Nice to be included in Uncle Sam's going-out-of-business sale, even if it's only .00000001% of the take.  

Why should shyster bankers and defense contractors get all the unearned $$$s?

We could use that money. I was glad to get some back for us instead of watching being spent on the same freeloaders who take advantage of the taxpayers. heck we do not even ge to blow it. just live on it for awhile.

I'm not so sure this was really a good idea, but I have no problem taking the $600 they gave me.

This will be one of the better events of 2008 for my wallet. I don't know what to think about the economic effect this decision will have, but I'll be happy to receive $1500 for my family.