Unfortunately, we forget that a majority of people getting such a think would save/keep this money and not spend it - which is what we need in this economy right now. I’m all for savings, but unless people buy durable goods/others products and not just McDonald’s and the credit crunch/liquidity opens more so people can buy new cars, etc, then you’re going to see this job loss situation GET WORSE - not better. I’m all for scaling back the so called pork, but unfortunately, unless this stimulus happens we’re going to be frozen for three years and you’re going to see another record job loss in Feb too. You want that??? Also when people are out of work, crime rises, people get more sick, welfare increases, the list goes on and on.
I know; I don’t know what the gov’t could really do to encourage me to spend money. I’ve always been a saver and am especially so now in this recession. My husband was laid off all of Dec and Jan and I saved even more.
There’s no “incentive” that could get me to buy a car, for example, especially using credit. (We always pay cash and only buy used cars anyway.) My current cars are fine; I don’t want to spend a dime on anything unnecessary right now.
And I don’t want to buy another house or whatever, regardless of the $15K tax credit or whatever it was. Just want to hunker down. . .
We are in for rough times anyway.
No plan can get us out without some major pain.
But this plan would at least give people a little breathing room, time to prepare.