Congress has decided to add $168 billion to the deficit over two years so they can rush rebates of $600 to $1,200 to most taxpayers plus $300 per child. This harebrained scheme will neither avert recession nor do anything other than exacerbate the economic difficulties we face. The entire Bush recovery since 2001 has been based on deficit spending, a fact which has not been lost on Americans who have consistently reported a lack of confidence in the economy. Doing more of the same will not solve the problems we face.
Erin and I stand to receive some $2100 in tax rebates thanks to this stimulus package, and as much as I hate to disappoint the members of Congress hoping that we’ll run out and buy a big screen TV, my current plan is to invest the money in foreign stocks. You know, somewhere with a stable currency.
You might consider doing the same.