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Stimulation Through Spending
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Published: February 3, 2008
Our country's national debt is in the trillions of dollars, most Americans are head-over-heels in personal debt, most have not saved anything for retirement - and yet, the government's answer is to reward us with a tax rebate to "stimulate" the economy. And they may have to borrow the rebate from China, adding to the national debt.
The mortgage crisis came about because borrowers were given mortgages on homes they couldn't afford by banks who knew they couldn't afford them. Real estate appraisers and brokers inflated the value of the homes and now the amount owed is much more than the current value. Real estate taxes and insurance rates went through the roof and now the Realtors and banks are whining about the economy!
The next crisis will be the vast amount of credit card debt and the auto loans on vehicles most knew they couldn't afford.
And the answer to all of this - spend more!
SONDRA JACKSON
Brandon
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