The move is par for the course in terms of the numerous efforts in recent months to produce “economic stimulus.” And while “economic stimulus” includes tax rebates, mortgage rate freezes and modifying home loan terms, one thing it doesn’t include is American jobs.

The Pentagon just announced that instead of awarding a tanker contract to Boeing, it will award it to a European company. After all the perks and special costs, etc. are added in, this could actually cost more than having Boeing do the job. And don’t forget one important point: Fresh on the heels of the worst jobs data in five years, the US government is denying jobs to possibly as many as 40,000+ workers for this project.

It seems to me that offering American jobs would help stimulate the economy better than increasing our national debt through tax rebates that are likely to go straight to paying for higher gas prices or mortgage loan finagling that only serves to prolong the inevitable while allowing mortgage lenders to get as much as they can for as long as they can.

Do you agree that providing American jobs would be better for “economic stimulus”?

Post from: EveryJoe

“Economic Stimulus” Doesn’t Include American Jobs

Instead, some working Americans will get $300 and others will get $600. Some joint filers will get $1,200. It sounds nice, but as I’ve been saying for a while, it’s not really practical. Our government is already running a deficit and most people don’t spend tax rebates and refunds on things that would help them financially.

The government just wants us to spend the money, rather than use it to shore up our personal finances. This bothers me. The way to “stimulate the economy” is to spend the money. This is not good for personal finances. Instead, you should pay down debt or save/invest it.

Besides, didn’t we do this five years ago? Funny how we’re right back in the same place. I guess that economic stimulus didn’t change things in the long run. How will this be any different. It probably won’t.

How will you spend your tax rebate?

Post from: EveryJoe

Tax Rebate News: How Much Will It REALLY Help?