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Wouldnt this make more sense?

Ok. We all remember the little checks we got back in Juneish, something like 600 per person or such. Pretty much we all put that towards our debt. I know we put our 1800 on one of our credit cards to pay it off.

Now Obama is talking about taking less out of our paychecks.. which personaly I like, but that doesnt really help those that have lost their jobs, so what is he going to do about them?

So here is my question to you... two of them really..

Should we have gotten the checks (600 dollar ones) in Mid November to stimulate the economy? I mean I came into 200 dollars extra and I spent 250 more on Christmas than I has planned. So wouldnt that have been a better way to boost the economy?

Second question. What do YOU think needs to be done to stimulate the economy?

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  • Anonymous
    1 decade ago
    Favorite Answer

    Hi highly appreciate that you are thinking about all of this. However, the question is a bit complex for this arena me thinks.:):)

    The critical change is found in the consciousness of the people. that people need to awaken to the fact that they are being marketed into debt and living beyond their means. that it's okay that the country is in the level of debt that it is, etc.

    None of this is okay (of course) ~ change comes from the people. People need to learn that living within means is extremely important and that leveraged investing, of any sort, needs some "thought" and discernment about what makes sense in cash flow for the situation.

    There's been a huge set of domino's set up across the whole financial markets and one will push another and another and another ~ well, I'm sure you get it.

    Live your life within means. Talk to your friends about doing the same. Don't use credit cards as a borrowing vehicle (just simply crazy to do that) . . . everything will be a lot better if people only do that.

    The Oval Office has some huge challenges at hand. Give the guy some time; keep watching what is going on, write letters and say your piece and think about what you are doing. Others will notice what you are doing and hopefull follow your lead.

  • 1 decade ago

    I think you're asking the wrong question.

    The question should be "Should we stimulate the economy?"

    My answer is NO. It's both morally and economically wrong to "stimulate" (artificially prop) an economy based on debt. We got into this mess because of overlending, irresponsible spending and inflation. We can only "solve" this problem by letting this balloon DEFLATE. We need to let companies fail, housing prices drop and car prices drop (gas prices already did).

    You are right, printing checks does not help people who are jobless. But maybe you should be asking, DOES THE GOVERNMENT OWE YOU ANYTHING? The answer is NO.

    It's wrong for the government to tax your labor, it's wrong for the government to force you to use their Federal Reserve notes which they can oversupply and devalue at any time.

    Let's not point fingers and blame. The short answer is, we CANNOT AND SHOULD NOT try to stimulate the economy, we should embrace bankruptcies and job losses and learn to save money, learn to cut back, learn not to have children, learn not to buy what we do not need.

    This DOES sound very harsh, but you need to understand, that financial responsibly is ON YOU. You cannot stop the government and banks from playing with money, but you can (and should) protect yourself.

    The best thing for you to do is save, sounds easier said than done, but I can't say it unless I've been there and done that. Think about how much worse the economy can be, how much more money you're spending every month than a jobless and homeless person. Don't wait for anybody to help you, because you know already, that MUCH MORE people need help than you today, be thankful you can still afford to help yourself.

    Source(s): Savings advisor, common sense, Youtube Peter Schiff, Ron Paul.
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