Friday, January 25, 2008

Nancy Pelosi Unsatisfied with President's Package

Speaker Pelosi said, "I can't say that I'm totally pleased with the package, but I do know that it will help stimulate the economy."

"This package has the right set of policies and is the right size," Bush answered in the White House briefing room.

They were speaking about the so called economic stimulus package, according to the Washington Post. Under the plan agreed to by the White House and Congressional leaders, $150 billion will be returned to taxpayers and non-taxpayers alike. Most folks who got a paycheck in 2007 will receive an IRS check for $600 per individual, $1200 for legally hitched couples. Children are worth an extra $300 apiece. Workers who made at least $3000 will get $300. The payments do not apply to individual adjusted incomes above $87,000, $174,000 for couples.

Agreement on the stimulus package came when the White House said they would send checks to non-taxpayers if the Democrats dropped all spending proposals. Pelosi was immediately intrigued and agreement came about within hours. Pellosi said of the plan, "I do know that it will help stimulate the economy." She further warned, "...if it does not, then there will be more to come."

Bernard Baumohl, Economic Outlook Group, believes the bipartisan comity [or comedy, I'm not sure] "would have a positive psychological impact on markets and investors." Bernie continued, "Practically speaking, this plan is not expected to have any meaningful impact on the economy until much later this year, perhaps in the fourth quarter. Even then, it's unlikely we'll see more than an extra blip in GDP growth."

That's what I wrote on January 20 in the post Lost and Found Department, "...the candidates and the President promise bread and circuses when we all know that the actions taken by the government will be for naught, and, in any case, too late."

And one more thing - the rebate money will be borrowed, thereby increasing the federal deficit.

So enjoy your free money. As for me, I will give the money back to the government in April because, well, I'm a giver, if not a stimulator.


The life of Indigo Red is full of adventure. Tune in next time for the Further Adventures of Indigo Red.

4 comments:

Tom said...

Rebate of my own money? How about not collecting it in the first place?

Let's make the tax cuts permanent, and while you're at it, cut them some more...

Mike's America said...

How about not collecting it in the first place?

Well, if they did that, they couldn't give out checks to millions who never paid any income tax.

As usual, expect lefties to scream about tax cuts for the rich, while rob the rich to give money to the poor who pay nothing.

dcat said...

Yeah I agree Mike!


We are going on a nice trip with money left over though. I doubt that the ones not paying in can do that! MY REVENGE!

I have a nice home and a sports car too!

Since I am being gouged don't expect me to give to charities! I am planning a nice life for myself and Mr!

They are shooting themselves in the foot! Next call I get to give I will direct it to Nancy P. K!

Indigo Red said...

Not collect tax money in the first place? That's just crazy talk...like Ron Paul.