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Bush Signs Economic Stimulus package

President Bush on Wednesday signed a multibillion-dollar economic rescue package that means $300 to $1,200 rebates for many American households.

Bush called the measure "a booster shot for our economy" to stave off a recession.

Several dozen members of Congress, including House Speaker Nancy Pelosi, stood on the stage behind Bush as he signed the bill.

Is it the right move to stimulate the economy? Leave your comments below...

Published Wednesday, February 13, 2008 2:18 PM by shaunganley

Comments

 

Ruby VanDuser said:

This is nothing but smoking mirrors - as is the "let us help  you with your housing"  bull crap - until someone does something about the choke hold that is wrapped around the american public from the oil companies and high gas prices, high home heating costs and high electric costs  - the average american person will continue to sink further and further into debt and despair - I don't understand why congress will spend $$$$$ and hours discussing whether Roger Clements did steroids years ago - but fails to pull Exxon Mobil in by the seat of the pants to find out why they are making the millions and millions of dollars in profit at the expense of the american people - or why they are not investigating why health insurance officials are drawing such outrageous salaries and denying the american public needed diagnostic procedures or denying paying for drugs perscribed by doctors.  - I'm sorry but this $600 will be sucked into nothing and everyone will be worse than ever - they just don't get it do they?
February 13, 2008 2:13 PM
 

Van said:

I find it insulting that the government thinks that little of its citizens.  They are counting on the american people to be careless with our money.  As fast as we get it they want us to spend it.  The everyday people will spend it and the rich will save it. How will it stimulate the economy 3-4 months from now? By that time the economy will stimulate itself, people will have tax returns back by that time. Its funny how they want to give us "free money" during an election year!  We wouldn't be in this mess if we were not in this war!
February 13, 2008 3:05 PM
 

Russell said:

   While most Americans will openly accept the "free" rebate check, most will not stop to consider the long term effects the spilling of these funds will cause. This money is a diversionary tactic to take the spotlight off of many of the underlying causes of our national debt and poor state of economy.
  Arguably the most economic strain our country has is clearly the war in Iraq. It is an unwanted economic burden, which will continue to sponge the United States straight into a depression. The trend of war time job growth and economic prosperity is a thing of the past because of the increase in outsourcing.
  Lets assume on average everyone receives the $600, that would mean the total amount given away by the government would be roughly $90,000,000,000.00 (that’s 90 Billion dollars). Now, put that money towards something like healthcare and that would more than pay for everyone in the U.S to obtain and physical check up, and probably pay for any medication needed. Unfortunately most people would rather take this $600 then to see their neighbor in good health
  Will this stimulate the economy? Yea, but it's lasting effect will likely be minimal.
February 13, 2008 3:29 PM
 

David Nora said:

GEORGE W BUSH STILL SUCKS AND CANT WAIT TIL HE AND HEARTLESS *** CHENEY LEAVE THE WHITE HOUSE. WORST PRES AND VP EVER.
February 13, 2008 3:35 PM
 

Fred said:

No matter what you do for some of these idiots they will complain.
Let’s make it simple.  It’s your money and they are giving some of it back.  Quit bitching and do what you want with it – save it, pay bills with it or buy something you want but don’t need.
One way or the other – just shut up and take it.  
February 13, 2008 5:37 PM
 

Mildred said:

I think it is a good thing, I think everyone should get the same amount of money
I work I don't pay any income tax in as I don't make enough to pay in. I'm on my own I have to pay $300.00 a month for health insurance ,have to pay for my gas to get to my job which is 21 miles from my house have to pay for my own heating and I have to do all of this on $950.00 a month. that does not leave me much to live on and pay my other bills, electric, phone I think, we the senior citizens should get more back. Good old New York should do something about the taxes on gas and to get better health insurance for people that are not old enough for medicare
February 13, 2008 6:24 PM
 

Capt Dave said:

I earn too much to get a bribe from the goverment. All it is a BS spending plan, both the democrats and republicains. That has no real purpose, other than to run up national debt. I know no one, either one of my older kids or anybody that really wants to work. That isn't working right now. The company I work for is hiring, people come in and work for a few weeks or even hrs and quit. I bet they are the ones complaining the economy. The high energy costs is a drain on the wallet. Many many yrs ago, I needed more money out of college. I went and found a second job instead of complaining. When you wake up and figure out. Energy oil ect, prices are based on world wide supply and demand. Nothing the goverment can do about it, you will understand. Start drilling for more oil in the USA
February 13, 2008 6:46 PM
 

mward915 said:

Dear David Noara,
                          Do you have any idea of what your saying?  I don't really care if you like the president or not but you should still respect your countries leader.  let me ask you a questions.  Were you for the way when Mr. Bush first brought it to congress and do not give me the Clinton saying of "If I knew what I know now that I wouldn't have been for the war"  You know what that is being,  its called a hypocrite and thats exactly what President Bush is not.  He has stuck by his word that he will defeat terrorism and never backed out like these coward and two faced democrat's that are up for election.  Sure Hillary will bring change but will it be for good.  Now I'm not looking for a blog argument and I will agree to disagree with you because I have had no personal interaction with you.  I will say though I look toward your response.
                                            Thanks,
                                                        Mike
February 13, 2008 7:06 PM
 

rhondacamp said:

this whole gas thing is just giving the world permission to "sell" products for a 12 week later rebate of a 10 dollar coupon on gasoline OR buy my groceries and get free gasloine! I am  wondering if the economic incentive rebate will be mailed to our homes in the form of an exxon mobil gift card! (that way we would have to spend it...wouldn't we ?)

ps - i already spent that money when i paid last years taxes. I guess a rebate is good validation that the taxes are too high to begin with - huh?
February 13, 2008 9:10 PM
 

yeahboy123 said:

big deal that bush is giving us a rebate. he's just trying to suck up to the people before he leaves office. i dont know how people can stand up for our president. he's started another vietnam, making us middle class pay almost $4 for gasoline, and keeps telling us lies.
February 13, 2008 9:49 PM
 

gilfusl said:

I totally agree with rhondacamp...I am all for the rebate especially since I have 3 kids but this is an indication that our taxes are too high to begin with.  I would rather have the money all year long rather than get a rebate.  That is just me though.
February 14, 2008 12:58 AM
 

tom f said:

its like urinating on a forreswt fire ; on top of a volcano; in the middle of a hurricane.
February 14, 2008 6:42 AM
 

susie said:

i think its a great ideal i am a singal mother of three holding two jobs right now and got to get another to meet bills i really dont want to go on welfare but might have to to keep a roof over my kids head and i help anyone i can as long as it dont hurt my kids but some people just dont care and take avange of some and i think this would be a great thing thank you
February 14, 2008 9:23 AM
 

Scot C. said:

Well as far as this rebate goes i don't mind getting the money back. I see the point in the fact that our taxes are to high but hey its been this way for years and it will be this way for more years to come, i see it as live with it and just keep trying to do your best to survive. As far as our economic growth goes... it will always be crappy because unfortunatly this world is based on greed, if someone is willing to pay a crap ton of money for something then you will always find someone out there that will see it at a outrageous price and as long as this greed goes on we will never have low gas prices or good cheap health insurance and we will always suffer in debt.
February 14, 2008 12:51 PM
 

Bill said:

President Bush is not giving you anything.  The president came up with the idea of a rebate but the legislation came from the congress.  Both democrat and republican representatives and senators voted to pass this legislation – you might want to remember that when all the election crap gets into full swing.
Everybody thinks taxes are too high and nobody thinks we get enough services from our government.
Go figure.
February 14, 2008 3:59 PM
 

David Nora said:

let me tell you something mward I have been 110% against this war. dont get me wrong i support the troops with all my heart but when it comes to our government leaders i could care less because nobody does anything for the middle class. our government only helps the rich and thats not a lie. by the way thanks for mispelling my name!
February 14, 2008 6:45 PM
 

mward915 said:

I totally respect your opinion Mr. Nora.  At least you are not a hypocrite like most people are today.  I will agree to disagree with you as I said in my last posting.  I hope you can also see my opinion on the war and the government.  I am also sorry for misspelling your name.  I hate to give excuses but I was trying to get my entry in before I had to lock up the cow barn which I do promptly at 7 PM every night so my spelling was not in my thoughts at the time.  
                                                   Thanks'
                                                                   Mike
February 14, 2008 7:23 PM
 

Roger said:

If anybody dosen't want their check they can send it to me.  I love found money.
February 15, 2008 6:36 AM
 

jammer said:

I agree with these people who don't want there money. They should donate it, and really show that President Bush. President Clinton did the right thing, He didn't give anyone any money.
February 16, 2008 7:15 AM
 

Bill said:

Clinton didn't give anyone any money????  He sure found some way to get rid of the higher taxes we paid while he was president.  What do you think he did with it?  Give it to Hillary to loan to her campaign when it ran out of money?
February 16, 2008 12:57 PM
 

Jeff said:

David Nora, I would also like to respectfully disagree with you. Your statement about the government not doing anything for the middle class. What exactly is the Federal Government constitutionally bound to "do" for the middle class? Provide for the National defense, resolve interstate disputes, and only the 16th Amendment allows them to even levy an Income tax outside of wartime. If there is a Constitutional amendment requiring the U.S. Government to give handouts to the "middle class", I'd like to see it.
February 17, 2008 7:31 AM
 

jammer said:

Bill all kidding aside, I agree with you and the Bush stimulus package.
February 18, 2008 8:41 PM
 

facefurny said:

I doubt that the amounts being sent will make much of a difference in this economy, because it's too little, and will be too late, assuming we even have a recession.  (That last assumption is not universally accepted by economists.)

Sadly, Congress assumed their typical posturing, excluded the people who actually pay the most taxes rom receiving the rebate, and included those who pay little or nothing, thus reducing this entire exercise to another disguised social welfare program.  If that's what Congress wants, fine, but at least call the duck a duck.

For those of you who will receive their check later this year, please keep in mind that you need to "Buy American" for this to have any effect on the U.S. economy.  Spending your $300 or $600 on foreign made clothing and electronics provides only minimal benefit, contributes to the trade deficit, and further reduced the value of the dollar in the world markets.
February 19, 2008 9:50 AM
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