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Are you statisfied that we're about to stimulate China's economy?
Congressional leaders completed a deal with the White House on an economic stimulus package that would give most tax filers refunds of $600 to $1,200, and more if they have children.
House Speaker Nancy Pelosi and Republican Leader John Boehner announced the $150 billion package, hammered out in a week of intense negotiations with Treasury Secretary Henry Paulson.
http://www.eagletribune.com/pubiz/etgtntsnbusiness...
America is in debt already. So, where do you think we'll get that 150 billion dollar shopping spree funding? We'll borrow it from China, which also supplies us with more than 60% of our product volume. In a nutshell, the money we're getting from China, we'll be spending for China, and returning that money to China and still have to pay them back eventually.
Will you feel good about stimulating China's economy when you go on your government mandated shopping spree?
20 Answers
- Anonymous1 decade agoFavorite Answer
yeah but on the bright side it will solve global warming
- 1 decade ago
It seems like a pretty stupid incentive for Americans to get a check from our already in dept government. I'm confused about how bailing people out of this 'home mortgage crisis' will help people learn to read a dam contract and not buy something you cant afford? Get a roommate!
How about instead of borrowing more from china we increase tariffs on imports so there is some semblance of a fair market. And while we're at it maybe we shouldn't be trading so much with a country that has crappy labor standards and in some cases slavery!
Source(s): http://www.atimes.com/atimes/China_Business/IF20Cb... http://www.jamestown.org/china_brief/article.php?a... - 1 decade ago
It's called corporate welfare! Recessions are part of the capitalist system. They wash out the excesses and rebalance the economy before beginning the next leg up. Where is it written that the rules have changed? In a country where companies live and die by quarterly numbers (forget about the long term good) and get to rape small shareholders by not including the true earnings because the cost of cheap stock options to executives isn't subtracted except in tiny report footnotes, handing out money the government doesn't have is not surprising.
- Anonymous1 decade ago
Stimulate the Chinese economy? It's already on the verge of OVERHEATING!!
Maybe that's the plan? To send the Chinese economy into total melt-down! Maybe Bush can do to China what Reagan did to the Soviets?
"China Would Welcome a U.S. Slowdown
In China, some people might actually be looking forward to a U.S. slowdown. That's because an American recession could do what Beijing has not been able to accomplish—namely, cool off China's overheated economy, which in 2007 grew at its fastest pace in 13 years." -- BusinessWeek, January 24, 2008
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- 1 decade ago
The Reptiles want more money for them: more spending means more borrowing which means more for them through the Fed and banking cartel. Of course China will get some in the process.
Yes the reptiles have been inflating China for some time. I am worried that when they reach a stage when they cannot pay back to that country. China is not Iraq and they cant invade that easily if ever. I am afraid they might be thinking of starting a nuclear holocaust to wipe out some 2 billion people. After all depopulation is one major element of the reptilian plan on the way to world conquest.
It is my advice that one should always be worried of what a reptilian that kills in cold blood might be doing next.
- Anonymous1 decade ago
Actually, I don't think most people will go out and buy junk from China. Instead, I think they'll pay off debt. It's probably not the intended use for the funds, but it's always good to get Joe American's debt levels down.
- Anonymous1 decade ago
Our government is doing that because they have been asleep at the wheel for the last four months. That goes for the Fed too. China will get smart and stop buying our debt. We as the world biggest consumers are in for a hard lesson when the money flow is exhausted. We're seeing it now with the mortgage industry collapse.
- LananiLv 61 decade ago
If I get a check, it'll go in the bank. I know a lot of like-minded people who will not spend the money but save or invest it-- not quite what they had in mind, I suspect.
That said, our subsidization of foreign economies does us incidental good too, because they're essentially buying our debt.
- Anonymous1 decade ago
Bush just gave 30 Billion for Aids to Africa Hillary Gave China our Military Secrets both corupt
- 1 decade ago
This is an excellent point. It is completely outrageous. In case the retards on Capital Hill don't know, THIS IS WHY WERE IN DEBT AND THIS IS WHY CHINA HAS MORE MONEY!!!!
These kinds of things make my head want to explode....
- 1 decade ago
Thank you for your support!
We appreciate it very much.
Keep the loot flowing and we'll be sure to bail you again in the future.
All Americans should just save it.