Recent news about the government’s plan to give back approximately $600 dollars to each US tax payers (and $1,200 for couples who file jointly) is all the buzz for Americans. This news, while great for most consumers, sheds a dark light on the current outlook of the US economy in 2008.
The government’s plan is simple, according to CNN, “Sources on Capitol Hill and at the Treasury Department said the plan would send checks of $600 to individuals and $1,200 to couples who paid income tax and who filed jointly.” With $600 dollars on the table, there are plenty of things you can purchase with that money. You can purchase a new iPhone and have about $150 left over, make a car payment, or purchase that dining table set you have always wanted from America’s favorite online furniture store Visiondecor. Nonetheless, the big question will be, will the American taxpayers really bite on this deal? The answer is simple, yes, but it comes with a dark secret.
The facts are that the average American has no idea what is going on with the economy. Average Americans, like myself, can only see that gas prices are steadily rising, the value of some homes has dropped (another 6% in January 2008), the interest rate has been cut again (to 3.5%), and the value of the dollar is depreciating. Is the $600 dollars really a relief? Or is it a way the government is trying to encourage you to spend more than you can really afford?
No doubt, it might be Christmas again in February 2008, but all it will do to the economy is make a brief spike in sales and we will be back were we left off before we were “stimulated”.
This is not the answer to our problems, nor will simply backing out of the war we started in the Middle East. As Americans, we need to do what we have always been good at, which is working hard and standing for what we believe in. This could mean a lot of things to different people, but the bottom line is that we should stop complaining and get back to work while keeping our priorities in check.
I do not know about the rest of the readers, but since the times has been tough on businesses for the past two years we have had to work harder and work smarter than ever before. America need to wake themselves up from this dream that everything will work itself out and start working to fix our economy.
There is still a hopeful future in 2008, but we again need to be “United We Stand” until this currently battle is over.
(Note, these opinions are the sole opinions from the author of this blog post. For any questions or inquiry, please leave an comment and we will respond accordingly.)
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