Economic Stimulous Package?

[AnnaLisaW]

Does anyone know what is truly behind this? I remember them doing this years ago and after we spent the money, we realized that they were increasing our taxes for the next year by the same amout that they had given us. Essentially, it was a loan, not a gift and many of us were sorry we spent it frivolously. So does anyone know what they are up to this time...there is no such thing as "free" money.
-ALW

[lifequest]

Its a last ditch effort to persuade the consuming public to go out and spend their hundreds of dollars to stimulate an already dysfunctional economy to fend off a looming recession.

Most people are so deeply in debt already that they'll either pay existing debt down or it will get absorbed in the rising gas and other commodity cost increases. The checks don't go out until May at the earliest and the economy is already declining so too little too late.

The cost of the so-called stimulus package is an increase in national debt so we're borrowing from China again to throw money at the public. There's no provision to increase taxes this year or next to make up for it. The idiot in chief and his cronies want more and permanent tax cuts for the wealthy.

I'm going to end up owing more in taxes than the stimulus check so its going right back to the treasury. No way am I going to contribute to bailing out an economic system based on illusion and false needs.

[AnnaLisaW]

"...We're borrowing from China again."
Whoa, I missed something. Care to elaborate? This is totally believeable but since I don't study economics, like too many Americans, this is news to me. Can you recommend some reliable sources?
-ALW

[lifequest]

The government issues debt like treasury bonds which are bought by foreign countries like China... the article below is a year old but lists Japan ahead of China as holders of US debt. China's share has probably increased since they export so much more to the US and have all that extra cash to invest.

https://www.msnbc.msn.com/id/17424874/