Originally Posted by Snow Fairy Sugar
Eight to 10 dollars a week? How is that supposed to stimulate the economy?
Experts say a little goes a long way. Maybe you help keep a restaurant open by eating out when you otherwise wouldn't. Or perhaps you buy a pair of shoes you otherwise wouldn't (albeit not Manolo Blahniks).
The bottom line, proponents say, is that money will flow into the economy that wouldn't have before.
Why am I not getting a check directly from the IRS, like last year?
Because most people didn't spend that money. They saved it -- which did little to boost the economy.
So apparently, his economic plan, and his claim of being middle class oriented...was a straight out lie, or the newspaper mistranslated. But the message is clear. Don't save for your own benefit, or even at all instead, spend more and keep spending to support Wall Street and major firms.
What kind of government/person will say "Saving is wrong"? Coming from a guy who talks about Middle Class...for once in this entire discussion board, I'll say Wunschkind(and everyone else) was right to mistrust Obama(about his economic policy).
Extra Footnote: While Obama's policy appears to be Keynesian by nature(What FDR and other bozos did in the 1930s) the government spent its money, and didn't tempt the people to. So in that respect, its different.
I'd like to point out that Obama's original legislation was changed a lot
by the Senate and House. So it isn't really just his fault. You'd have to blame the majority of the Senate and House.