Tax Refunds!
WASHINGTON - Facing the prospect of an election-year recession, Congress passed an economic stimulus plan Thursday that rushes rebates of $600 to $1,200 to most taxpayers and $300 checks to disabled veterans, the elderly and other low-income people. President Bush indicated he would sign the measure.
Ref. USAToday
Ridiculous. How is $600 or $1200 going to help anyone in the long run? For most people, that won't even cover their housing payment for a month. This is a "last hurrah" for Bush. More like a last gasp.
Why is only $300 going to the disabled, the elderly, and low income people? They could put that $1200 to better use than some yuppie couple with an SUV full of high-priced electronics.
International Level: Ambassador / Political Participation: 595 59.5%
Turns out this isn't any kind of "gift." It's an advance toward a new tax credit on the books for 2008. So, it's not a "rebate" for taxes already paid. It will count against your 2008 taxes - and if you don't qualify for the new tax credit in 2008, you have to pay it back. Nice, eh?
International Level: Ambassador / Political Participation: 595 59.5%
Bush insists US not in recession
The US president insists there is not a recession despite the worst monthly jobless figures in five years.
Ref. https://news.bbc.co.uk/1/hi/business/7283512.stm
Bush Wants To Drill Alaska
But Bush quickly said that he favors longer-term fixes, such as encouraging new oil production in the United States and building new refineries at home. He renewed his call for opening areas of Alaska wilderness to oil exploration and production. "If there was a magic wand to wave, I'd be waving it, of course," he told reporters at a Rose Garden news conference called on short notice. "But there is no magic wand to wave right now. It took us a while to get to this fix."
Ref. https://abcnews.go.com/Business/Economy/sto...=4747503&page=1
Bush calls for offshore drilling
President Bush asks the US Congress to end a ban on offshore oil drilling, as fuel prices rise up the political agenda.
Ref. https://news.bbc.co.uk/1/hi/world/a...cas/7460767.stm
What Will Be Said
WASHINGTON (AP) - President Bush plans to talk to Americans directly about the financial crisis in a prime-time, televised address Wednesday night. The White House says his speech at 9:01 p.m. EDT will be between 12 and 14 minutes long and will be delivered from the State Floor of the White House residence.
Ref. USAToday