Is The Second Time Around Really A Charm? Another Stimulus Check Is On The Way…Maybe
August 11, 2008 by Bridget Wright
Filed under Business
Really quick, before you think…what did you spend your stimulus check on?
If it’s all a blur to you (as it was with me), then get ready to do it all over again. Maybe. President Bush and the White House are currently debating and deciding if in fact another tax rebate payout is needed to further stimulate the economy. Things are just not going ideally or as planned and they’re toying with the idea that perhaps the first round of payouts wasn’t enough. With the ever-increasing gasoline prices, the lending market just about tanked and the housing crisis going into overtime, our fearless leaders think all you guys need is just a little more money to get things going. Do you? Would a little more money make a difference?
As a business owner who has been through a few tough financial crunches, I can tell you that spending MORE money isn’t always the answer to getting out of a mess. Now I realize that my small business pales in comparison to the details of the business of running a whole country, but some principles do apply and can carry over to big projects like this one. If I were on the financial committee helping to make those tough decisions, I would contribute the following:
- Stop spending any more additional money that YOU DO NOT HAVE starting today. If you don’t have it, don’t buy it. Doing that will only make your financial situation worse. Getting out of debt requires immediate action. Doesn’t always feel good. Doesn’t have to…it’s just right.
- Revamp current systems that are not working. If you keep trying over and over and over to do something a certain way and it’s just not working, stop it and try it a different way. Just think that maybe that original system was a dud to begin with.
- Employ and do business with smart people. I know we like to think we’re the brightest Crayola crayon, but there are other brands that are just as good. Folks with experience are more likely to know what to do and how to handle certain situations. Being the boss doesn’t always mean you have to make decisions or that you’re always right. A good boss recognizes when there are bright ideas in others.
- Learn from your mistakes. Didn’t work out? Don’t try that again or do it that way again then. Learning from your errors can help you understand yourself better and avoid making that same mistake again.
- Learn from other’s mistakes. First, review why that person failed. If you think you can do a better job of it, see #4. If you think you can do a better job of it, see #5. “nuff said.
It’s hard to tell whether or not these stimulus checks will actually materialize since Nancy Pelosi is going to put it to a vote in September. Until then we’ll have to wait and see.
But House Speaker Nancy Pelosi plans to have the House vote on additional aid when lawmakers return in September from their summer vacation. She believes more is needed to counter higher gasoline prices and other costs.
Do you think another check is a good idea? What would you suggest to Bush’s team if you were on the committee?
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Copyright 2008 – Bridget Wright
Yes, thank you! We do not need another stimulus check. I’ll admit the first got my husband and I out of quite a bind, since he was laid off and quite desperate for rent money, but we really don’t need another stimulus check.
The money may be nice to have, but it’s posturing from the politicians, not good financial sense.
My check went into the pot. It’s gone. Naturally, self-employment taxes came due the same week the check came in. How coincidental.
yes i think that bush and his team should issue another stimulus check out because times is hard and every thing is so high. and people like myself are struggling every day to try and make in this society.
It would be great for another stimulus check to be issued as long as people used that money to get out of debt. I’ve been throwing as much money at my student loans as possible to make sure that I’m not paying on them for the rest of my life.
yes it would be wonderful to get another check. I can do alot of things with it. It would be very helpful
I would love another check. mine was used too pay for a plane ticket for my kids i haven’t seen in 6 years. now with that i have a broken down car due to fuel contamination. repairs are exspensive and military doesn’t pay that much…vote yes my kids need christmas this year…