Another "stimulus package" is on its way? is this good or bad?

Question

I guess this is going to add the budget deficit for the next president.

What do you guys comment ?

Answer 1

Um I haven't heard of another package coming.  Though if it comes, it may only temporarily stimulate the economy.  The last one did for a few months but its going down and not helping much now.  Consumer spending will probably go down the next few months.  So, a stimulus package may look good.  It could help the economy.  But only a bit.

And true, it will make more long term problems.  That is why I feel mixed about it.  Things will get better...but they will take a while.  Projections aren't that great.  They said the :[ economy will recover next year.  That's definitely better than how some have predicted (Depression...) and I don't think there will be a depression, but I do believe the economy will recover the following year.

And oh, I am not too happy with the stimulus package adding on towards the deficit.  It also is going to up the debt.  This is going to be a huge problem.

Answer 2

If it comes about it is another desperate act . The first was an advance on next years tax refund . An you may owe taxes next year because of it .So if another comes before next year you all will owe a lot of taxes when you will not be able to pay them .

Answer 3

As long as foreigners are willing to keep lending the money to USA at low interest rates.  Then this is good for USA, at least in the short term.  But this money will have to be paid back some day.  And all of USA may end up with debts too big to pay off.

Easy lending is what has led to this whole mess in the first place.  And more easy lending by foreigners will only delay the day of reckoning and transfer the burden to US taxpayers.   But the day of reckoning will have to come sooner or later.

No politician wants to be around when the day of reckoning finally comes.    And that's why the Bush administration is doing its best to delay it.

Answer 4

well actually mongollan is in-correct. it was not an advance like the last time.  it will not be counted as part of your taxable income for next year.

as far as another package? hadnt heard anything about that.  Only that the IRS was double checking and sending additional money to those who didnt mark the box next to dependents for child tax credit, should have, and therefore wouldve received an additional $300.00.

Answer 5

I haven't heard about that. I hope they do send out another one.

Answer 6

Yeah, I heard they are still playing around with the idea. The stimulus package they put out before did not have the full affect that they would have liked.. most americans now are still hurting, the jobs report this morning said there were 44K new claims for unemployment.. which means more people are losing or have lost their jobs, which will mean more pinches in trying to pay for homes, rent, cars, credit cars etc... so it would be welcome for many. I know I have no objections..but the flip side of it is...if it is not going to benefit the economy much, maybe they won't do it...or the fact that someday this will all have to be paid back. I keep thinking where is the government going to get all this money from, bailing out fannie and freddie, stimulus checks...plus we owe china and other countries all this money...it has to be paid back. we are in trouble..and I feel sorry for the next president

Answer 7

I heard that the last one did have as much of an effect as they had hoped, while jacking the national debt.

I'd be surprised if they do another one, but politicians- who knows.

Might not be a bad idea if they said " we are going to cut military and war spending by a billion dollars and give half the money to taxpayers", that I could see as a good thing...