Obama's 250 Dollar Stimulus Checks: More Deficit and Questionable Benefits
According to the Peterson Institute for International Economics our current deficit is approaching over 11 billion dollars. It doesn't take a rocket scientist to figure out some serious changes need to be met to keep this figure from growing at an alarming and unsustainable rate. The latest stimulus package will be a bit more than 13 million when it is distributed.
This 250.00 individual payment has pitfalls. First, consider the actual amount. If you are trying to put out a forest fire with a bucket you won't get far. What can you buy with 250.00? Maybe some groceries or gas or perhaps pay a utility bill. You really can't buy much as far as a big ticket item. It is doubtful how much this additional money will actually stimulate the economy.
If you truly need the money for utilities or groceries and you are on social security disability there are other programs already in place designed to help such as food stamps. If the government already supplies you with help for your utilities and food then this payment might be considered a double dipper that the taxpayers are funding.
Thirteen million is a drop in the bucket compared to the growing deficit of 11 billion. Perhaps the general public has grown accustomed to such large fiscal amounts being announced and have an attitude of blasé acceptance. We should revise this attitude. If your dog brings in one healthy and pregnant flea, your house will soon be over run with the nasty little critters unless you clean your house and dog thoroughly. Perhaps we should as a nation clean our house fiscally.
If the politicians of this nation were adamant about spending this money, perhaps they could have revised the channels of venue. What if they had put thiteen million into alternate energy? This would benefit everyone and has potential for long term savings as a nation. It could have provided jobs as well, jobs that would have provided much more than a single 250 dollar individual payment.
The IRS has expressed interest in educating the general public about who will have to pay this money back but it is a bit akin to closing the barn door after the cow gets out. It hasn't been widely published. It would be wise to check the revised tax tables or consult a CPA if you are recipient of the latest 250 stimulus check.
Source: The Peterson Institute for International Economics
Published by M.R Charette
I have been an active partner in a construction company since 1986. View profile
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5 Comments
Post a Comment250 dollars for all SSI recipients or only for those who did not received them during Bush presidency!?
i dont know why they give us part time workeres who receive ssi 250.00 to take it back at the end of the year .250.00 they act like it was a million bucks. why give and take away at the end of the year thats crazy.
I will never again vote I am 25 years old and have caught onto the political games that are played it was never about us it's about them we never had a say our voice was never heard it's all about greed, power doesn't matter the party I was a 1st time voter wanting real change instead it was all lies more of the same.
hadn't heard about this...guess I haven't been up on the news lately, I am depressed enough. I agree that this money would do more good elsewhere in the long term. I'd gladly give up 250.00 to help the overall economy, even though I could sure use it too. Great reasoning here... IMO
If the government need money why can't they just print some more? I'm a tax payer and can't get too much from 'MY Government' but plenty is being sent overseas. The poor man doesn't have a chance. He's even stuck in a situation that if he tries to improve his situation he stands a chance of losing his monthly check and/or other benefits. It doesn't matter who the President is as always the rich get richer and the poor gets poorer. Those billions in bail outs could have been given to the "little" man, who wouldn't have had any other choice but to put it back into the economy. Thank God the poor are use to being poor and making it with a little of nothing. The money was given to the wrong people. Instead it was given to people who lost a few thousand dollars out of their MILLIONS. I don't think I'll ever vote again. Why pay the Chinese for what Americans can do??????? Create jobs in America.