Mar 20 2008
Stimulated
IRS sent me a notification yesteday regarding my stimulus package. It seems I could be getting somewhere in the range of $300 to $600. Yay! It goes straight to the bank of-course and that of-course is not the intention of the package. The bill for the package passed with bipartisan support but amazingly there seems to be no clinching evidence that that this scheme works. In fact, here’s an argument against it. It seems that it’s more symbolic than actually carrying a real expectation of directly injecting adrenaline into the economic system by encouraging people to spend. People like me are not going to and I am sure a lot of other are not going to blow away the amount on frivolous expenditure either. It could, however, send signals to the market that the government has your back. This ties in with what Ben Stein was talking about a while back in a session with the Commonwealth Club. Also, here’s Brad DeLong on the same subject.
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