Challenging the Stimulus Plan
March 28, 2008 by Marc Lamont Hill
America can’t shop its way to greatness, and this one-time, government-funded shopping spree won’t lead us to a sound economy.
Checks for $600 Won’t Fix Our Economy
By Jim Hightower
Washington was excited. The media establishment applauded. Wall Street smiled. Somewhere, a bluebird of happiness chirped.
In a celebrated display of bipartisanship, both parties joined hands last month to pass a whopper of a stimulus package. Cash, they crowed, would soon be flowing. “We’re sending a $600 check to you, and $300 to you, and $1,200 to couples, and…well, almost everyone will get money! It’s manna straight from heaven to get our big ol’ economy high-ballin’ down Prosperity Highway,” they exulted.
“Not that there’s anything wrong with our economy,” they quickly added. “No, no,” said the self-congratulatory stimulators. “Everything’s fine. Really fine. Really.”
In his State of the Union peroration, Bush insisted, “Americans can be confident about our economic growth.” Treasury Secretary Henry Paulsen chimed in, “The U.S. economy is fundamentally strong.” Buckshot Cheney came out of his bunker to assert that America has a “solid platform” for continued economic growth. And Condi Rice assured world leaders that our economy is “resilient, its structure sound, and its long-term economic fundamentals are healthy.”
Hmmm. If the basics of the economy are in such great shape, why would we need all this cheerleading by the wizards in charge? You don’t have to be in Who’s Who to know what’s what. They can whoop it up ’til they’re hoarse, but for most Americans, the kitchen-table fundamentals are nothing to cheer about. As a fellow in Missouri recently said to me, “If these are good times, why aren’t I having one?”
While it’s probably rude of me to look a gift stimulus in the mouth, this one seems seriously flawed. The feeble philosophy behind it is the same that shaped George W’s insulting comment after 9/11, when he declared that the highest civic role of the American people is to “go shopping.” Come on, George, America can’t shop its way to greatness, nor will this onetime, government-funded shopping spree lead us to a sound economy.
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11 Comments
1. Ann wrote:
For those of us who aren’t receiving a check we should at least get some kind of tax break……
March 28, 2008 @ 9:54 am2. R.oB. wrote:
Too damn long. Get to the point. The bottom 90% make less while the top 10% (us in other words) have made much more 5X by some gov’t numbers. You’ll never hear the 99% of Republicans (the nonpopulist ones) dropping that bombshell.
March 28, 2008 @ 10:20 am3. timaree wrote:
this plan will only be even middlingly helpful if we all buy products made in the USA so that the money will stimulate our economy. otherwise, if we spend it all on products manufactured in countries who already own all the bonds on our money anyway (China, perhaps? but they don’t manufacture things we buy, though, right?) then we’re actually just handing everyone a dildo we can use to fuck our economy right in the ass.
March 28, 2008 @ 11:41 am4. www.rayandsamara.com wrote:
timaree – thats just a little too graphic more me this early in the morning. I definitely agree with you though.
I must say, the plan doesnt work but I’ll take the money anyways. Thanks Pres Bush for purchasing my wedding invitations!
5. james wrote:
well, actually, timaree, that’s not entirely true. ideally, yes, we’d like to buy more american products, but there’s also the prospect–very thin prospect–that american retailers will benefit from the potential spending in their stores, which may lead to the salvation of a few low paying jobs.
the check is, more than likely, our government’s way of attempting to gain back a little of our favor. i’d don’t think it would be too much of stretch to say that many americans aren’t terribly fond with our elected leaders at this point.
March 28, 2008 @ 12:22 pm6. DCI74 wrote:
Whatever the amount will be is not going to do anything to stimulate my economic situation, in fact it won’t change my spending habits at all because as soon as that check comes in, I’ll be writing another one to apply it to my student loan, so it’s ironic that I’m taking government money just to pay back the government since I have no credit card debt. If the goal was to provide citizens with money to actually spend in a consumer manner then the checks should be a whole lot bigger. If someone is drowning and you choose to try to save him/her by tossing a tiny rubber ducky into the water instead of a survival float or raft to get them above water, that ducky is worthless. Now surely $300-$1200 has some worth but its not going to save anybody from financially drowning. I didn’t ask for the money however I am going to take it but its not going to change my life.
March 28, 2008 @ 1:08 pm7. wouldn't you love to know? wrote:
LOL @ DC’s “rubber ducky” analogy!…i ain’t gonna front, i think that one tickled me a bit too much…because i died when i read it…anyhoo…
i agree with you, it’s gonna take a whole lot more than that, to stimulate anything…they need to stop “bitchin’” and toss people a few more dollars…something like 10K or higher…i’m serious…hightower, made some excellent points in this article, as far as the infrastructure and going green is concerned…we have a hell of alot of work to do, that goes way beyond some punk ass “$600″…so i’m gonna go with timaree’s anology and say…not only are we fucking are economy in the ass…we’re fucking ourselves as well…
March 28, 2008 @ 1:23 pm8. wouldn't you love to know? wrote:
“our” economy..
March 28, 2008 @ 1:25 pm9. CIA-FBI wrote:
As someone who has 2.5 jobs and 3 kids, I won’t be seeing a dime from the government, in fact I owe $10k! My income + alimony put me in a different income bracket although I’m struggling to keep my head above water. I’m not complaining, I can pay my bills, I have no credit card debt, but that’s about it. Forget about vacation, going out to eat, movies, etc. $1200 (the oldest is 18 and in college) wouldn’t help me that much anyway, wouldn’t even put a dent in my mortgage. The money would’ve been better spent repaying the national debt!
March 28, 2008 @ 1:35 pm10. wouldn't you love to know? wrote:
and they want us to believe that this is “LIFE”?…what a damn shame!…
March 28, 2008 @ 1:47 pm11. sendschie wrote:
I’m not sure if something called a Stimulus Plan really aspires to be a “fix” for our economy. I also don’t think economies lend themselves to being fixed (which why every attempt, anywhere, always fails). The simple truth is that this has been “a long time coming”. Economists on both sides of the Atlantic have, for decades, implored US Americans to increase their savings rate. Did they? Instead, US Americans have enjoyed an artificially high standard of living backed by an artifically high, overpriced dollar, and the Walmart model which has an immediate effect of spending less and a net effect of spending more.
The citizenry’s high consumption, low savings, and demand for low prices have contributed to a deficit in the balance of trade for EVERY trading partner that we have.
This, combined with the milliards of dollars that we have spent in Babylon (spending on global security aside) is a sure-fire way to court an “economic downturn”.
But now, since China has stopped buying all of those bonds and won’t let the Yuan appreciate, its gonna be pretty hard/impossible for the dollar (1.58=EUR today) to recover.
Stimulus is alway good, but US Americans are gonna have to learn to cut back and…SAVE!
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