Bush’s “Stimulus” Cash Giveaway: “Gentlemen, Start The Helicopters”

[Crewleader]

by Mike Whitney / January 21st, 2008

The White House is in full-panic mode. In fact, the falling stock market has the administration so worried that they’ve concocted a “stimulus package” to rev up flagging consumer spending and keep the economy on life-support. The desperation is palpable. Fed chairman Ben Bernanke’s appearance on Capital Hill last Thursday turned out to be a total bust. Bernanke was supposed to calm jittery investors with promises of rates cuts and easy credit but, instead, his gloomy predictions put the Dow Jones into a 306-point tailspin. Now it’s up to Bush to try to restore confidence in Wall Street and allay the growing fears of a recession.

Since we first reported on the proposed “stimulus package,” the size of the rebates have increased dramatically. The Democratic-led Congress was only calling for $250 per taxpayer or $500 per married couple, but under the White House plan, taxpayers could receive rebates of up to $800 per individual or $1,600 per couple. The rebates will accompanied by additional cuts to the Fed Funds rate (estimated 50 basis points) which will provide more liquidity to the banking system and easier credit for consumers.

The administration’s desperate actions should remove any lingering doubt that the main problem facing the economy is inflation. It’s not. The moves are intended to forestall a deflationary spiral that is the natural corollary of seven years of intensive neoliberal policies. Ironically, now that Bush has achieved his goal of crushing the middle class and destroying the foundation of America’s consumer-based economy; he has decided to change directions and shower those same over-extended workers and subprime homeowners with a $150 billion gift from the government. So, what gives?

http://www.dissidentvoice.org/2008/01/bushs-%e2%80%9cstimulus%e2%80%9d-cash-giveaway-%e2%80%9cgentlemen-start-the-helicopters%e2%80%9d/

[librechik]

1. Rebates? you mean like those bogus borrow-from-yourself checks Bush handed out

back in 02?

what a crock!

[RC]

2. Didn't we hear this song before?

Tax cuts for big business and the rich, a tax advance sold to as rebate. A rebate that we had to pay back. Isn't that what started this recession/depression in the first place? and if you don't make enough to pay taxes, screw you and your family.

I am hearing Congress is going along with this.
Where the hell their backbone? More tax cuts for big business. More tax cuts for the so called rich. Why?

You want to get the economy going again? Impeach bu$h/cheney for their war crimes and get our Jobs back in this country. Tax the obscene profits of the oil companies. Tax the hell out of Halliburton. And rescind their no bid contracts.

STOP THE DAMN ILLEGAL WAR! Bring our troops home and get them the treatments they need. Reward them for the horror and hell bu$h has put them through.

Turn out and replace every last congress critter that has supported bu$h's illegal war, toed bu$h's line and worked against the best interest of the American people for the last seven years.

Long prison terms for the criminals in both parties that have defiled the Constitution.

[snappyturtle]

3. On Washington Journal this morning a guest said something scary.

He said that last night Boehner, during the negotiations for this rebate, said the Repukes cannot support extension of unemployment benefits or the food stamp help put forward AND if these two provisions were included it would not pass. So I guess those who need help the most are once again going to be screwed. Once again the repukes are dictating. Where is Pelosi in all of this? I've seen one statement on teevee of her and some milquetoast answer....gooblety gook....she said little to nothing of any notice. imho

[TalkingDog]

4. Why do I hear "Ride of the Valkyries" blaring off in the distance?

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