Got no money to spend? Well then, spend your kids’!
January 22, 2008, 4:26 pm
Filed under: uncategorized

First things first. I’m not an economist. One of my two C’s in college came in an Econ class. So I’m horribly unqualified to comment on this stuff . . .

However, I’m a home owner, and have been so for almost 11 years now. I’ve seen my share of interest rate cuts and hikes over the years – and Michelle and I have refinanced our mortgages a couple times in response. But usually, the rates don’t go up or down drastically, without the financial geniuses of the world anticipating some action. Yeah, well, today the Fed cut rates by three-quarters of a point. Huge. Sounds like we got us a pretty good recession brewing.

And so what does our all-wise government have in mind? An “economic stimulus” package. They’re talking about handing out $800 tax rebates, so we can all run to malls for iPods and designer shoes, or go to Hawaii or Branson or NYC. Spend, spend, spend. That’s our answer for every known problem. Terrorists bombing your skyscrapers? Got to keep spending or the terrorists win. Mortgage lenders making shady loans that they know we can’t keep up with? Got to keep spending, or the loan officers win.

Oh, by the way, the money for those rebate checks is coming out of your kids’ bank accounts. Got to keep spending, or your kids win, I guess.


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