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Old 03-08-2008, 03:33 PM
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Ressesion Relief?

Ok so I was reading an article that stated that Americans should not spend there checks on paying off debt or put it in savings????? OK lets see how many forclosures are happening?Bankrupcies? The article stated the goverment wants us all to go on a big spending spree. It ststed that if we save this check or payed off debt that we could cause the economy to get worse. I am confused? I will maby buy a new outfit, maby get my hair done, maybe get my motorcycle license but yes I will pay off a couple credit cards and save some.

If anyone can shed some light on this please do. What will you do if you get a refund?
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Old 03-08-2008, 06:32 PM
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I think what they want to do is stimulate new business
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Old 03-08-2008, 10:59 PM
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Quote:
Originally Posted by MIKE HONCHO View Post
I think what they want to do is stimulate new business
Yep...that's exactly what they want!
But unfortunately IMO, that will be hard for lots of Americans to do. Think about it. When one is struggling with finances, and they get some extra. Is the first thing they're going to do is go on a spending spree?
As Ron White would say...."I don't think so scooter".
I know I won't.
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Old 03-08-2008, 11:47 PM
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My ex will be the first one on that spending spree
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Old 03-09-2008, 11:49 AM
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thats what Im saying. Unemployment is up, Everyday you hear about another company laying off (downsizing). A spending spree would stimulate the economy but in the long run so would a family keeping there house. if they recived 1500 I know for me that would be 2 mortage payments.Or if they paid off a credit card of 1500 the min payment alone would free them up an extra 50 to 100 dollars a month. The goverment should be working on stomping NAFTA and brining companies back to the US. They should be working on stimulus packages of there own. I just feel they have there head burried in the sand or another dark place if they will expect that every family will go out and spend. 1500 in a growth and income IRA could potentialy be 6000 in 25 years ok nothing to go wow over but have you been watching the stock market. I know when the housing market begin to flop and predicting that our largest population "the baby boomers" would begin to retire I moved all of my funds into more conservitive funds. I know I am rambeling but I believe we are in a ressesion and headed for a depression if we dont do somthing.You and I both know the credit card companies are making a killin....So why do I have to speak to somone in a forign country to ask questions about my accounts. Bring the jobs back home. I dont know about all of you and I may be overreacting but it frightens me to think were we might be 2 or 3 years from now.
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Old 03-09-2008, 12:36 PM
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Well IMHO Bush is just gonna tack the $$$ we get in May to the deficite He has already run WAY up.
Trust Me you don't get money from the Gov't without paying it back in some way.
What a mess we are in.....just gets worse by the day.
Whoever we get as the next Prez has some REAL damage control to tend to!!
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Old 03-09-2008, 12:44 PM
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Quote:
Originally Posted by MIKE HONCHO View Post
My ex will be the first one on that spending spree
Lol, ....okay! So maybe I was wrong...lol
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Old 03-09-2008, 12:49 PM
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Trust Me you don't get money from the Gov't without paying it back in some way.
What a mess we are in.....just gets worse by the day.
Whoever we get as the next Prez has some REAL damage control to tend to!!
Yep! Don't forget that those refund checks will be taxed.

I couldn't agree more.....The next President will have a lot to clean up!
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Old 03-09-2008, 01:11 PM
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Yep! Don't forget that those refund checks will be taxed.

I couldn't agree more.....The next President will have a lot to clean up!
Oh yeah I forgot about that!
I shoulda known that.....what isn't taxed?
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Old 03-09-2008, 08:47 PM
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It's going into my Roth IRA. The economy is in a slow-down which only seems to be so terrible because the economy has been growing like gangbusters for the last 5 or so years... it's all cyclical and we'll all be fine if the government would just stay the heck out of it and leave us common folk alone. Just give us back some of the money they took from us in the first place and we'll all be fine.
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