An Unprecedented Package

In an article I read called “A Second Look…”, I came across a well rounded argument. If we, now by we, I mean “America”, are not falling into a depression, then why do we need a stimulus package. The $145 billion dollar stimulus package is designed to deal with the economic slowdown in the U.S and help recession. In theory, the “tax relief” will lead to an increase in consumer spending. However, I agree with my fellow classmate. The mere 600 dollar rebate is not going to boost the economy and in the end, may be putting America in a worse off situation than what it already is. This would put future generations at risk of a economic crisis or in debt. Rather than eliminating the problem, the government is just pushing it away for it to be solved at a later time. The rebate checks have both a short term gain but a long term loss. In the short run, America’s economy may boost, if citizens run and spent their rebate checks at
“Wal-Mart” or other American retail stores. This would put the money into circulation and suppress the economic crisis. In the long run, it could affect the presiding President and place our Nation at risk of what we all fear, “Depression”, because of the amount of money being given out. Where is it coming from? It has to be borrowed, and it must be paid back. This is why I agree that this idea of the stimulus package is “unprecedented”.