Tuesday, February 12, 2008

Economic stimulus

It looks like Bush's economy-saving idea will pass, and that most families will receive a wad of money from the federal government. This is supposed to revitalize the economy because we will spend, spend, spend it on stuff. This spending will give millions of dollars to business, which will, in turn, encourage businesses to hire people, thus giving them more money to spend, etc., etc.

I have already imagined several ways to spend this money. I could put it into savings. I could make an extra car payment (or a few), or an extra mortgage payment. Buy a flat-screen TV I will not. Sorry, President Bush (and those who signed this law with you), I do not plan to hit the mall when the check lands in my mailbox.

Right now, my husband and I have a little money saved. That's a huge improvement on the rest of the American population. Still, I don't feel that it's enough. If one of us were to fall catastophically ill, for instance, or if Mark were to lose his job, or if our car died and we needed to buy a new one, we'd be in big trouble.

And, unlike the government, we can't just borrow money from China if we decide that we need it. We choose not to keep a budget the way the government does--we like the idea of a household surplus.

So, President Bush, I'm sorry if putting the money in a savings account or paying for purchases already made doesn't fit with your idea of stimulating the domestic economy. We'll stimulate our real domestic economy first.


Anonymous said...

I'm assuming/hoping that because you are blogging, you are feeling a llttle better.
I think that there is a different perspective to your saying that you aren't going to go shopping when the big federal check comes in. I think that you and Mark, in your wisdom, foresaw the advisibility of stimulating the economy, and beat the government to implimenting the policy making your purchase to stimulte the economy ahead of time. And voila -- the pretty Toyota Sienna van. I think you should email Pres. Bush and tell him about it.

The AZ McMillans said...

It is a quirky idea. This free money is most certainly not free. I have issues with the fact that my children, my children's children and generations after will be paying off this debt. Although getting "free" money in the mail is kind of exciting, is it worth it? Will it help ward off a recession? I guess we'll see.

We've talked about using the money to buy more food storage. You can't eat big screen TV's President Bush! :)