Personal Finance Poll: Do You Think the Economic Stimulus Bill Is Any Good?
February 3, 2009 by Miranda Marquit
Filed under Finance
Last week, the House passed an economic stimulus bill. This week, the Senate is working on modifying it so that they can vote on some version of it (and then reconcile with the House folks). Setting aside the argument that maybe the money could be just as well spent if it were given to people, do you think that the economic stimulus bill is any good?
Vote in the personal finance poll below and, if you are so inclined, leave a comment sharing your views.
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{democracy:15}
I like how there are basically 3 choices just to say “it will fail” and only 1 for “it will succeed”. Biased much?
There are two “in between” votes as to whether or not the stimulus bill is any good. Most people people fall somewhere in the middle, rather than thinking it will fail outright or be a great success.
Im not a fan of bailouts. One by one the big companies are falling. How many more will fall and how many can the government save? What implications will we face in the future from the bailouts? I believe we need to let time gradually improve things. Confidence in spending will gradually increase. Perhaps giving the bailout money to each of us and giving tax cuts is a good idea.
“Some economists believe that transfers to individuals will not stimulate the economy, since the recipients will save a large fraction of those transfers.” — David Laibson, Professor of Economics Harvard
Why can’t they create a system that ensures people spend the transfers? maybe a debit card that the people can use up a certain amount for a limited period of time and by not allowing them to withdraw the money?
The govt will never give stimulus money to us again because we proved we won’t spend it. We’ll either save it, pay off debts, or use it to buy a nice tv made in china. The govt’s only option is direct investment. I’d rather have no stimulus, but I know I won’t ’spend’ my tax break so going me money isn’t the best idea for the economy.
That is, of course, the disconnect we have between what is good for the economy and what is good for individual finances. What’s good for the economy is debt-fueled consumer spending. So if we paid off debt in large amounts, it might actually help. Americans could clear their credit cards (infusing banks with cash) and then start the spending spree all over again…
My problem with the opinion poll is “fail miserably” isn’t strong enough wording. Where is sneaky, cheating theft, that will fall on generations to come?
LOL @Lillie. I suspect many people would agree with you.