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Archive for Friday, January 25, 2008

How will you spend 600 bucks?

Economic plan to put cash in hand

January 25, 2008

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Deal hoping to stimulate economy reached

Congressional leaders reached a tentative deal on Thursday to stimulate the economy that could put some money back in your wallet. Enlarge video

Krissy Yeadon shops with her children, from left, Stavan, 7, Marquis, 5, and Diamond Yeadon, 7, Thursday at Checkers Food Store. Yeadon says she will use her tax rebate to pay off some bills.

Krissy Yeadon shops with her children, from left, Stavan, 7, Marquis, 5, and Diamond Yeadon, 7, Thursday at Checkers Food Store. Yeadon says she will use her tax rebate to pay off some bills.

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What would you do with the $600 the federal government is considering?

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Krissy Yeadon didn't have party planning on her mind.

Yeadon pushed an empty grocery cart through the produce section of Checkers Food Store as her three kids - 7-year-old twins and a 5-year-old boy - took turns hanging from the cart and hanging from their momma's legs. Shouts of "Banana! Strawberries!" and whatever other produce item the cart passed, competed with the sounds of a slow, downbeat Patsy Cline song that played over the store's intercom.

So when Yeadon, a single mother, was told Thursday that the federal government was close to approving an economic stimulus package that might net her a special tax rebate check of several hundred dollars, she was plenty pleased. But she wasn't having dreams of a new high-definition television or an extra special vacation.

"We'll probably use it to pay off some bills, and it would be nice if we could put some toward savings," Yeadon said.

Count that as half a victory for Washington, D.C., lawmakers. Democratic and Republican congressional leaders reached tentative agreement on a nearly $150 billion economic stimulus package Thursday. Leaders have made no secret that they're hoping Americans take the newfound money and immediately put it back into the economy by buying stuff. Yeadon's plan of paying off some bills probably will please lawmakers. Putting some away for savings may not.

Yeadon's mood was pretty typical of other Lawrence residents who were out and about Thursday.

"I don't think it will do much to help the economy," said Raven Naramore, who was at the Lawrence Public Library with her 2-year-old son. "I think we're in a deeper hole than the government wants to admit. I think they're just frantic now. They're trying to allay people's fears by giving them a little money."

Others, though, were giving the government high marks for its simple strategy.

"Anytime you put money in people's pockets, I think it has to help the economy, because I'm pretty sure people are going to spend it," said Tammy Willits, also at the library. "Very few people actually save."

Willits, however, plans to be the exception to the rule. She said the newfound money would be a boost to the children's college fund.

At Conroy's Pub on West Sixth Street, Kristin McGill worked behind the bar and made no bones about saving the money for a rainy day. It was her first day on the job at the bar, and she had plenty of need for cash to meet "ordinary" expenses that had been piling up.

But maybe there would be enough left over to take a quick trip to see her parents. Think of that: An economic stimulus and a mother's heart warmed.

At the Kansas Union, the fog of youth was heavier. Chris Redford, a computer science graduate student, said he hadn't been noticing the economic downturn much. He knew gasoline prices were higher, but thankfully he doesn't spend much time at the pump.

"The only thing I noticed was that Apple stock has been dropping," Redford said as he sat with an open Macintosh on his lap. "I pay attention to that."

Redford said he likely would take whatever money the government sent him - even part-time workers are expected to get a check - and put it all toward a new computer.

You, sir, are loved by your legislator.

But ultimately the success of an economic stimulus plan may rest more with the Krissy Yeadons of the world. How much goes back into the economy? How much goes into savings?

As soon as Yeadon mentioned savings, her mother - who lives with her daughter and the kids - reminded Yeadon of another matter.

"It sure would be nice to at least get the car fixed so it runs right again," said Carol Morris.

Outside in the parking lot sat a 1989 GMC van in bad need of a tune-up and a new heater.

Washington may get all of its wish after all.

Where's the money?

The $150 billion economic stimulus package that U.S. House leaders and the Bush administration agreed to Thursday would provide tax rebates to 117 million taxpayers and tax reductions to businesses. Here are the high points:

¢ Individuals with adjusted gross incomes of $3,000 to $75,000 would get rebates worth $300 to $600.

¢ Joint filers with annual incomes up to $150,000 would receive up to $1,200.

¢ Individuals and families that earn more than those limits would get rebates that decline as their incomes increase. Families also would get bonuses of $300 per child, except for families that earn more than $186,000.

¢ The rebates could start arriving in May, and most people could have them by July - if the Senate gives the measure quick approval.

Comments

JJE007 6 years, 7 months ago

right_thinker its spelt ejerkayshun, dood Yu gots madd elerphant dizease r sumthin?~)

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jumpin_catfish 6 years, 7 months ago

Does it matter! The govt thinks it must manpulate and control every aspect of the economy and our lives. I think it's maddest but its just money they shouldn't have taken from me in the first place so I'll spend it.

"I'm giving it all she's got Captain but she can't take much more!" Scotty

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imastinker 6 years, 7 months ago

It looks like we get $1800.

This is the stupidest thing I've ever heard of.

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domino 6 years, 7 months ago

And just where do we all think the government is going to get this money they are going to "give" us? Get real people!!

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bmwjhawk 6 years, 7 months ago

It was our money to begin with. We can't be held responsible for reckless government budgeting. What's another trillion on the debt?

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Christine Pennewell Davis 6 years, 7 months ago

well instead of spending it like the gov. wants just put it in savings and there ya go.

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Richard Heckler 6 years, 7 months ago

Our economy has been mismanaged for the past 30 years since Reaganomics and the Global Economy were introduced. Many of the same faces are still there mismanaging the economy.

Want new green collar jobs,alternative energy = jobs, jobs back to america, a more sensible economy and healthcare for all?

Fire 95% of all elected officials!

Why do americans fall over themselves for political media stars and fat cats? Have we not learned that these people NEVER make things better they just continue the corporate welfare and watch american jobs go abroad. It really stinks!

The media has become a large part of the special interest takeover of our process as if they know what is best for all of us. Voters support this takeover by voting for those candidates who also spend the most money and the question is why?

It is up to us to stop the nonsense at the voting booths on the 2008 ballot.Not voting sends the wrong message and changes nothing.

Lets's demand a new system and vote in Fair Vote America : http://www.fairvote.org/irv/ Demand a change on the 2008 ballot.

The big money candidates are more beholden than ever to corporate special interests due to the very long nature of campaigns. How do they have time to do the job they were elected to do? We need public financing of campaigns. Citizens cannot afford special interest money campaigns for it is the citizens that get left out.

http://www.publicampaign.org/

Who would be against Public Funding? The special interest money providers and their bought and paid for politicians!

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tir 6 years, 7 months ago

Doubtlessly my old house and/or old car will need some kind of fixing up or replacement parts. That's what usually happens to my disposable income when I have any. Either my local plumber or my mechanic is probably going to be very happy at the prospect of my getting a rebate check. But as others have pointed out, the rebates will have to be paid for sometime in the future, by the taxpayers. It's not free money.

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Bill Chapman 6 years, 7 months ago

Pay my taxes, get a new CD - that's a certificate of deposit for those of you with limited vocabulary.

This money is coming out of our pockets one way or the other - I figure the guberment is just giving the little people a little hope before the axe falls on their bank accounts.

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Raider 6 years, 7 months ago

I have a couple of problems with this whole thing. Yes, it will be nice to have a little extra cash, but the government can't afford it.

BUT: This is going to add 150 billion to our deficit, which is projected at 250 billion already. I also don't think it's right that they should give the money to people who don't pay a dime in income tax.

They government should keep this money, and worry about things like rising energy and food costs, the weakening dollar, and the massive deficit.

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Ken Miller 6 years, 7 months ago

Further mortgaging of my child's future. Thanks, BushCo.

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Moderateguy 6 years, 7 months ago

Practically speaking, it will only pass on to higher state and local taxes. Unless they actually cut spending, there really is no money to refund. The truly devastating part is many people will head off to Wal-Mart and further increase our trade deficit to China.

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JJE007 6 years, 7 months ago

Halliburton stock: Of course I'm not sure that $600 will buy me enough water to boil ALL of Halliburton!~) ...

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mom_of_three 6 years, 7 months ago

Save it to pay for my eldest child's college education in fall 2008 (or mine)

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sharong 6 years, 7 months ago

If the government wants to really help, give us tax free money! Everyone needs to remember that we have to claim that money as income for the 2008 tax season and pay taxes on it.

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alm77 6 years, 7 months ago

I have mixed feelings. It is our money to begin with after all, but on the other hand, I think oscarfactor is right, we're just going to have to pay it back sometime.

We've discussed new carpet and fixing our driveway, but we've also discussed saving it so we don't have to take out a student loan next semester. And paying off current debt is another option.

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JJE007 6 years, 7 months ago

Seriously... This is hush money...and it's ours. Stoopit is as stoopit duzz. We should bring it to DC in $1 bills and burn up a few memorials...or buy a new government!~) The republic is dead.

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guesswho 6 years, 7 months ago

Right, and the war is costing us $275 million per day. This is so not smart.

This war on terror will bankrupt our country. The US Dollar is in a freefall. Other people in the world are investing in growing economies and pulling their money (and trust) out of the US.

No candidate wants to talk about this because nobody has a plan. We gripe about those who can't pay their bills in this country yet this administration is the most fiscally irresponsible ever.

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tvc 6 years, 7 months ago

I'm going to wipe my a$$ with it and send it back.

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MCwzMC 6 years, 7 months ago

It looks like almost everyone agrees that this is insanely stupid fiscal policy. The rebate is motivated almost entirely by the election. The republicans don't want to take heat for the economic doldrums, and the democrats are (perhaps justifiably) worried about how they will fare in a weak economy.

Now why doesn't the media pick up on how bad of an idea this stimulus package is. I have yet to see the media present this rebate in anything but a positive light, and I am sure that there are 100's of economists who will attest to how stupid this whole idea actually is.

Well, at least US debt will be one step closer to dropping the AAA ratings it has always held, which means we will have to pay higher interest rates to the Asian and Middle-Eastern countries that purchase our debt.

http://www.reuters.com/article/bondsNews/idUSN1017237120080110

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hipper_than_hip 6 years, 7 months ago

"The truly devastating part is many people will head off to Wal-Mart and further increase our trade deficit to China."

You got that right!

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redneckwoman 6 years, 7 months ago

Either we'll pay some debt or save it so we can pay our 2008 property taxes. Either way we won't have it for long.

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Lori Nation 6 years, 7 months ago

to bad for us working people we will get less than people who are on welfare!!!!!!!!!!!!!!

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oldtimer39 6 years, 7 months ago

If anyone has a problem taking the $600, I'll happily take it off your hands. Sure, it's not "free money" but if you don't spend it, the government will, and then you'll be complaining about that. Take the money and run.

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MCwzMC 6 years, 7 months ago

Not that I expect Wallstreet to look out for America's long-term stability, but Wallstreet wanted these breaks only because the corporate fatcats are will be the ultimate beneficiaries of the stimulus package.

I mean, how much of each $1 spent stays in the US economy when most of the goods we purchase at "big box" stores aren't made in the US. Sure, the execs and shareholders get a nice slice of the pie, but ultimately US tax payers are paying interest on that slice of pie.

Perhaps we should reduce government spending and cut taxes with the resulting savings. No...Let's not do that. After all, Wallstreet would far rather see us get out of this mess the same way we got into it - excessive spending on products sold by publicly traded companies.

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Lenette Hamm 6 years, 7 months ago

Let's see.. get the country further in debt by handing out an insignificant amount of money for people to spend... so the overspenders are wanting the destitute to follow their lead? Cut me a break........

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valgrlku 6 years, 7 months ago

Offtotheright -

According to the article, the refund to taxpayers is only for those with adj. gross income over $3000 a year - hence, people who are working. It does seem odd that the more money you make, the bigger the refund. It would be more logical to do the opposite - those who earn less should get more and vice versa. Either way, with my paultry GTA salary, I'm not getting anything anyway, even though I'm working. Go figure.

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MCwzMC 6 years, 7 months ago

Liberals scoffing at cash? I think you missed the point. But please, continue to talk about yourself. We are all very interested.

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sourpuss 6 years, 7 months ago

Let's all go out and buy an iPod, because it is THAT easy to fix the economy!

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Moderateguy 6 years, 7 months ago

Since my Daughter is the one that's going to inherit all these fiscal shennanigans, I think I'll put it into her college fund. Either that, or put it towards a new Mustang GT so I can roam the wasteland like the Road Warrior when this all collapses around us.

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alm77 6 years, 7 months ago

Is the government doing anything to educate people on what spending would best boost the economy? I would think that spending locally would be best for everybody, but I'm guessing most people won't care enough to do that, but a reasonable ad campaign couldn't hurt.

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mikeyj 6 years, 7 months ago

Just take your $600 and buy Cuban cigars - that'll show em.

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samsnewplace 6 years, 7 months ago

guesswho 8:52am "the war is costing us $275 million per day", so how long can we keep going into the negative without going completely under? It would seem we are already bankrupt.

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bugmenot 6 years, 7 months ago

We're taking a vacation outside the United States on a foreign carrier airline. So much for our $1,200 boosting the US economy.

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jonas 6 years, 7 months ago

"logicsound04 (Anonymous) says:

People inevitably save their money when worried about an oncoming recession, which is ironic since the only way to really stop a recession is to spend money."

Well, if they really save it, such as putting it in interest bearing savings or such, then it opens up money which banks can use to make loans to entrepreneurs, which has a chance of increasing our economy's capital. That could have a positive long-term effect on the economy, much more so than if everybody just ran out and bought crap with their money.

As a note, many things put together in China for final production have their basic costs in materials often produced or extracted here in the United States. An increased demand for the finished product would increase demand for the materials, which would help us as well, not just China. What actually happens, of course, is still anybody's guess. And there's no denying that this isn't free money.

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Linda Aikins 6 years, 7 months ago

Krissy, you sure have a cute bunch of kids with big smiles!

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jafs 6 years, 7 months ago

Does anyone else remember that when Bill Clinton left office, we had a large surplus?

Whatever his flaws were, it would seem that his economic policies worked quite well.

If I remember correctly, he made the wealthy and corporations pay their fair share of taxes, and invested in trying to help the less well-off have more of a fighting chance.

During Reagan's term in office, we had a recession. Now, again, with Bush in office, another recession.

Looks like a pattern to me - Clinton's policies work; Reagan and Bush's don't.

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guesswho 6 years, 7 months ago

samsnewplace,

I dunno how long till we are 'bankrupt'. We may never be, as long as other countries keep lending us money. But, we (the US) will be paying more and more on debt, instead of growth, and our importance in the world will continue to decline.

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supernik 6 years, 7 months ago

i am spending all my money at the toy store on mass!! i LOVE THAT PLACE!!! i dont care where the toys come from but $600 will buy a TON of magnatiles!!!!! i think they should give me more money though, a couple thou will do just dandy, anyone want to give me their money i will take it, my references are that i am a single mother of 2 and like to go shopping

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beatrice 6 years, 7 months ago

I'm going to pay off the national deficit with mine. It seems like the least I can do.

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beawolf 6 years, 7 months ago

Jafs, Good point about Clinton. It was, and still is, the longest growth period in US history. He made jobs, a balanced budget, and economic incentives his major priorities which in turn created a surplus. A major accomplishment, considering he inherited a $290 billion deficit.

Bush's focus has been on the war with Iraq. A serious money pit that has impacted all of the country's economic strategies.

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Linda Aikins 6 years, 7 months ago

b, you are such a giver. I'm proud to "know" you!

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RedwoodCoast 6 years, 7 months ago

R-t, sorry to break it to you, but your arguments on this issue are completely inane. And you're obviously starved for attention.

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mom_of_three 6 years, 7 months ago

Don, You don't know why she is single - she could just be divorced or her husband/ex could have turned into a deadbeat, criminal, or worse yet, died from illness. Your comment was uncalled for.

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deskboy04 6 years, 7 months ago

I am going to buy a new HDTV with the money! That way I can watch the Jayhawks in stunning high definition.

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Chrissy Neibarger 6 years, 7 months ago

Anyone know HOW exactly they are determining who gets the money, I've never gotten one of these stupid checks before, so how do i know if I'm going to get one of these. I always fall in the money categories. Do they go by if you've actually paid the rest of the taxes you owe them on time, or not? I feel if you've filed an extension you should qualify.. cuz i know I've paid WAY more than what I still owe them.. hey.. maybe they could just take if off of what i owe! anyone know?

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Chris Redford 6 years, 7 months ago

I know that this is a tangential issue compared to the more pressing issue of our nation's economy. But I would like to say that I resent this reporter's portrayal of me as materialistic, financially shallow, and just a little bit dopey.

The way the article is framed it makes it look like I am just blowing this money on a computer that I don't need (because hell there is a Macintosh on my lap right?). Well here is the reality: I have a girlfriend and daughter. We have been carefully saving for quite some time to get a new computer so they can use the old one referred to in the interview. We would have purchased the computer with or without the government's money because we feel it is a wise investment for communication and education.

I know that reporters are in a rush to produce stories but this experience really makes me question the veracity of personal interviews. I will read all other personal interviews I encounter with a more critical eye from now on. I really feel that he contorted his interview with me to give him a token dopey impulsive spender to refer to, and, again, I resent that.

Chris Redford

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Kontum1972 6 years, 7 months ago

give it to St. Judes childrens hospital then deduct it from my 08 taxes, if it helps save a sick child and give them a good life....thats one hell of a rebate....screw the material poo...

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casinoOK 6 years, 7 months ago

I plan to hit the casino's and spend, spend, spend......

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Kontum1972 6 years, 7 months ago

This war on terror will bankrupt our country. The US Dollar is in a freefall. Other people in the world are investing in growing economies and pulling their money (and trust) out of the US. Hmmm....like our vice-president did with all his biz holdings..gee thanks Dick Cheney,,,,,sob

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Tony Kisner 6 years, 7 months ago

On some fancy new stuff my neighbors got but I don't. Makes me mad, stupid neighbors.

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bd 6 years, 7 months ago

1/2 on red and the other 1/2 on black and let it spin!

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erod0723 6 years, 7 months ago

Did anybody but me notice that r_t is the Bill Orally of the ljw forums? He seems content on spouting out radical half-truths and complete fallacys because he is obsessed with the attention he gets from being constantly derided by his fellow forum goers. thanks, r_t, but n/t .

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janeyb 6 years, 7 months ago

I been searching but can't seem to find out. Is this actually a rebate, or is this an advance on 2009's tax refund?

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Corey Williams 6 years, 7 months ago

"I heard if you make more that $150,000 you don't get a dime of your money back."

Wow Dolly. Way to brag there. That was the second time you mentioned that you made enough money that you wouldn't get a check. If you actually did make that much, maybe you could go somewhere and get an education. Or at the very least, just get yourself a punching bag to beat on instead of trying to insult people anonymously on message boards. Hey, you could use your rebate check on one of those! Oh, no, wait...I forgot. You make too much money. Should I say it again? I've heard that if a lie gets repeated often enough people sometimes believe it.

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staff04 6 years, 7 months ago

Remember folks, Congress still has to pass it and the President has to sign it into law before any y'all get checks...

Not sayin'...I'm just sayin'...

Damn civics teachers!

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staff04 6 years, 7 months ago

And because Dolly just needs more people to show it how stupid and hypocritical it is:

And now I shall quote!

"It's a sound package. It makes a lot of sense. It's needed and you need to pass it as quickly as possible to get money in the hands of the people who are going to help this economy stay strong."--GWB, January 25, 2008

http://www.reuters.com/article/companyNewsAndPR/idUSWAT00876920080125

How's your gawd treating you today, moron?

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Corey Williams 6 years, 7 months ago

Whatever happened to letting the market forces work?

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staff04 6 years, 7 months ago

Sorry...my last post was in response to Dolly's first post of the day re: "Pelosi says..."

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Chris Redford 6 years, 7 months ago

Thanks logicsound04. I'm glad my comment turned out to be useful and I appreciate you recognizing it.

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KS 6 years, 7 months ago

Doesn't make any difference if you spend it or save it, as long as you don't put it under the mattress. The bank will loan it out and the next person will spend it and the bank will pay a little income tax on the deal. History has proved a program like this works. The tax income to the Feds this time next year will be hitting record highs again. Too many naysayers out there.

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minnie 6 years, 7 months ago

I have been thinking about our nation and society for a while now. I think we have sacrificed technology/power for humanity. Why can't we get our troops home, protect our borders and re-appropriate monies back to Education and Social Services. We have parents killing their children and themselves and why? They can't make ends meet, they don't know how to be a parent, they don't have a partner to share in the child rearing? I would like to see all the elementary schools have full time counselors again, before and after school programs and parental classes/mentor/counseling. I would like to see children with special needs have a para or teacher available to them, rather than trying to "mainstream" them, they just get passed and lost. Every time we cut funds for education and social services, our kids (our future) suffer and families suffer. I would like to see everyone enjoying their lives again, not worried, stressed or down right hateful because their life is "out of control."

WOMEN, we are the majority in this country for the very first time - We need to get out and vote and demand a change in the philosophy and mission of our government. Of course, this would have to include health care for all, it's so much bigger tho. Let's make a demand for change.

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mick 6 years, 7 months ago

This must be Bernanke's idea. He got his name "helicopter Ben" because he said that if there were a recession all he would have to do would be to go up in a helicopter and drop billions of dollars, I'm afraid that this is going to be more than your typical recession.

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mick 6 years, 7 months ago

You can arm yourselves reasonably well for $600.

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werekoala 6 years, 7 months ago

right_thinker:

Say, here's an even better idea, then -- why stop at giving away $600? Why not give each tax payer $1 million?

Bush isn't "giving the money back to the people" -- we don't have a surplus of tax revenues. What he's doing is putting even MORE money on our national credit cards, so we can all get brand new shiny TVs today, nevermind when we have to pay it back, or at what interest rate.

This is Shake-And-Bake Conservativism at it's finest. It's the very opposite of fiscal and political conservativism. A REAL conservative would give out tax rebates only after cutting programs to pay for it.

We're due for a recession, prices have been artifically inflated for several years now. All this shell-game BS is doing is trading a small recession now for a larger one later when the current clowns are out of office and it's not an election year.

It's not conservative. It's not intelligent. It's not a good idea.

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camper 6 years, 7 months ago

Usually goes to my car mechanic. Today it was my power steering pump.

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JJE007 6 years, 7 months ago

r_t, I loved your 5:40 a.m. post. It is a perfect example of what you have been "contributing" to this forum for a long time.

I'll paraphrase. "I don't think this is a good idea. It may be a gimmick. It doesn't matter. You guys are stupid because I think you are liberals. Clinton bad. GWB good. Get it, you stupid people that I pigeon-hole as liberals? Man, you people are stupid to come off as liberals. Liberals are stupid, you stupid liberals! Love your stupidity. It make mee smawr_t."

I sincerely hope that you are an employee of, or investors in, WorldCo (thus encouraged to stir things up) because I'd hate to think that there are people out there as mean spirited and foolish as you...and your part-time, witch in the mirror, DPP.

Thank you for contributing the toothless lion's roaring share of stupidity to this award-winning forum.

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jonas 6 years, 7 months ago

"If Willy had done this, he would have been abundantly praised by ya'll:"

You mean, the same as since it's done by Bush, or a republican official makes it praised by some and discounted by others as it is now?

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yourworstnightmare 6 years, 7 months ago

I am donating my $600 to Planned Parenthood and the ACLU.

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werekoala 6 years, 7 months ago

"If Willy had done this, he would have been abundantly praised by ya'll"

Not by me. This is beyond stupid. And I was never the biggest fan of Clinton, much less so watching the shady behavior they turn on members of their own party. Just because you generally support a politician, doesn't mean you have to blindly defend them. I like Obama, but if he proposed this, I'd be against it too.


"You guys have an allergic reaction when taxes are reduced it appears, and that is essentially what this isa one time tax reductionthat's all"

No, I'm all in favor of actual tax cuts. You know, when you cut money from the budget, and THEN reduce taxes? Anyone remember that concept? This fiasco is just a delayed tax INCREASE, because all of this money will have to be paid back, with interest. I'd much rather see these DC idjits get together and cut spending, but if that can't happen, it's stupid to pay more later to get money today.


"no big windfall for Chinagimme a break. A gimmick? Maybe. BFD. We see gimmicks out of DC up the wazoo and we always have."

I'm curious how you can call yourself a conservative, and then just shrug your shoulders and say "meh" when the definition of ridiculously wasteful, short-sighted government meddling is looking you in the face. Oh, because your guy is doing it, it's okay? Please. Stop being such a cheerleader.

This is short-term pandering at the cost of, what, $90 billion? ($600 x 150 million taxpayers). And since roughly 80% of consumer spending goes to imported goods, 80% of that $90 billion will have migrated offshore within 6 months.

I'd much rather see that $90 billion invested in creation and retention of American jobs, than just getting tossed out of a helicopter.

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werekoala 6 years, 7 months ago

"So globalization, a core liberal idea, is essentially bad?"

I'd hardly consider globalization a "liberal" idea - look how organized labor screamed and hollered when NAFTA was going through.

And to me, it's not inherently good or bad, it's just a fact: as it becomes easier to transport goods and information between countries, the global economy will become increasingly interconnected.

The real question is: what is the desired end state? Do we end up lower the US standard of living to that of China, so our workers can compete for sweatshop jobs? Or do we elevate the Chinese standard of living to be close to our own?

I'd prefer the latter, but ideas like the current one do nothing more than perpetuate the current trend of relocating good jobs with good benefits overseas where labor costs are much lower. That's not how you grow a domestic economy!

As a side note, I think that a decent minimum wage, 40-hour-work-weeks, sick time off, vacations, and family medical leave are all important benefits that generations of union workers had their heads clubbed in to give us domestically. And assuming you work for a living, I'll bet you enjoy having these hard-won benefits.

And yes, it's cheaper to pay a guy $5 a day for 12 hours of work with no bathroom breaks. But that doesn't mean its better in the long run -- even Henry Ford understood that. The problem is, we have created and perpetuated a system that rewards companies for relocating jobs in countries without good working conditions, artificially deflating prices in the short term at the cost of long-term economic stability.

The long-term solution to fixing our economy: stop doing that. This stupid bipartisanship is just flushing good money after bad.

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hottruckinmama 6 years, 7 months ago

I am going to use it to help pay for summer day care for my 8 year old.

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Kathy Getto 6 years, 7 months ago

Put it in savings and look forward to claiming it as income on our 2008 taxes.

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Mkh 6 years, 7 months ago

Man I hope that new Walmart is going to be open in time. This is going to be sweet.

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GretchenJP 6 years, 7 months ago

bubble gum and licorice sticks!!

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Christian Hinton 6 years, 7 months ago

I'll stick in my IRA.

I've got 45 years left until retirement, and even if I leave the bare minimum ($300) alone at a reasonable rate of return it will be $6300, in 2053 dollars.

Thanks, Uncle Sam.

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gogoplata 6 years, 7 months ago

I'll stick it in my savings account.

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