Monday, May 12, 2008

stimulus check

I told Christian I'd believe it when I saw it. And I see it. $1200 direct deposited into our checking account. Sweet.
image from geogreeting.com

The whole point of the stimulus check is to increase spending, thus jump-starting the economy. Whether any of us actually agree with this idea or not, that's what the government is trying to do. In other words, they want us to actually spend the money.

Will it work? Who knows.
Should the government be spending this much money when they are already deep in debt? Probably not.
Is it really our money and we're just getting it back? Probably, but it all depends on how you feel about taxes.
Are the rich people getting screwed because they pay the most taxes but aren't getting anything back? Probably.
Should we be spending the money on US products so the money truly goes back into our economy? Probably.
Should we snub the whole idea and not cash the checks? No idea (and not exactly possible when it is already direct-deposited into your account).
Should we donate the money to charities? Probably.
Should we buy food storage and emergency supplies? Probably
Should we blow the money on trivial stuff? Probably not, but doesn't it sound fun?

Honestly, I don't know. Lots of people out there have lots of opinions on this subject. All I know is that my lowest grades in high school AND college were in Economics. But I do remember this whole increasing spending strategy. So am I going to give my opinion on this whole thing? No. I believe in keeping my mouth shut if I really don't know what I'm talking about.

So for now, $1200 is sitting in my bank account just waiting to find out its fate.

I know my blog isn't exactly blooming with political debate and intellectualism, but answer me this: 1) What do you think about the whole thing? and 2) What are you going to do with your money?

10 comments:

Julia said...

we bought a digital SLR camera - and while i'm not sure about the whole stimulus package i personally would like to thank george w for the fabulous pictures we will take in china.

Tyler said...

I plan to send my check back to the government. In fact, next year I think I'll throw in an extra $5K when I do my taxes so I can do my part in helping to balance out the budget.

Carbonneau said...

We were thinking about saving it. :) But then I had a project fiasco, got 2 hrs of sleep in about 60 hrs, and Chris decided that if I had a better computer with a better program I wouldn't lose any more sleep. and more importantly, neither would he. So we bought an imac and a way beter video program. I am not sure about the whole spending money to fix things...but I hope it works! It sure helped my problems! :)

Amy Carter said...

crap. i didn't get the money yet. i think it's because we didn't mail in our signatures after filing eletronically. i finally sent it in today. i hope i still get it :/
we were planning to start a college savings program for diego with it. either that, or use it towards buying a new car.

Jenni said...

I find it very hard to go out and splurge to get something we want but don't need at all. I kindof feel like this stimulus check is my chance. When I get money, my first instinct is to save it. But, this is money that we are supposed to spend and throw back into the economy. So, I sort of feel like this could be my one chance. Jared already got his check, but I haven't gotten mine (they use the last two digits of your social to determine when you get it), so I'm still thinking about what to do with it. And today, I was thinking we could get a Wii. With Rock Band, of course. I just thought of it, so I haven't discussed with Jared, but I don't think he would be opposed to the idea. When I become an awesome drummer in a famous band because of all my band practice, I'll have George W to thank.

Jared said...

I feel like Jenni is twisting my arm on this one. I mean, I really, really, really, really wanted to use this money to buy a life-sized cardboard cutout of The Governator. Marriage is all about compromise, though, so I'm happy to get the Wii now and wait to buy the Arnold cutout the next time a stimulus package rolls along.

Kaylynn said...

Uh yeah, IF I was getting any money. Screw being single.

d/b/c/m said...

i think it is so completely ridiculously irresponsible and such a counter-productive message and action to send in our deeply flawed culture of spending and consuming to the detriment of our self-sufficiency, environment, and souls. This is the time when we should all be buckling down, sacrificing our lavishly selfish and unnecessary comfort to repair our $9 trillion dollar national debt and obsession with materialism.

i don't know if tyler is serious, but if he is--props.

i personally don't have any faith that sending our check back would make even a whisper of difference in the problem, and will therefore, and perhaps hypocritically, be keeping it. But, I will not go out and buy something I don't need.

Molly said...

Julia--Looks like a great camera.

Tyler--Can you thrown in an extra $5K for me?

Kati--Sounds like a very valuable investment for your business.

Amy--You get your money based on a schedule that goes by the last digits of your SS number. I say go with the college fund.

Jenni and Jared--Wii'll come play with you.

Kaylynn--Think of it this way--you are not responsible for the government going into even more debt.

Brooklyn--Amen. Did you ever see the SNL skit for an informercial for a book on staying out of debt? They just said over and over, "Don't spend more than you make" while people acted totally confused by the concept. It was hilarious. I think our government needs to buy that book. (Oh, and my brothers are never serious.)

Decision #1: In light of the Cyclone in Myanmar and the earthquake yesterday in China, we're allocating some of our stimulus check to the LDS Church emergency response fund: http://www.lds.org/ldsfoundation/

Ashley C. said...

I don't feel the least bit bad about spending it. If the government can spend billions of dollars on ridiculous military expenses, then they can spend some money on the rest of us.
Now, if there was a decision to spend the money on a socialized health care system instead, I would gladly give the money back.