Sunday, July 20, 2008

Bush Economy Continues to Slide

In the final months (thank goodness!) of his failed presidency, George W. Bush remains as clueless as ever. Deregulate the banks and financial institutions, the GOP leadership argued, and prosperity will break out all over.

Well, no. Not at all. Today's evidence, this dire prediction about short-term economic prospects, courtesy of
Treasury Chief Warns of Hard Months Ahead

1 comment: said...

Stimulus Package "Deja vu", Not really!

As the brains of our economy continue to brainstorm how to get us out of the mess the real estate market first got us in and now high gas prices and a declining economy over all the easy way out seems to be again, an economic stimulus package.

Not so fast, not again.

First president bush opposes it.
Second, according to the experts only 20 percent of the people who got stimulus package number one said the rebate led them to spend more and the rest, well it seems that the rest just took the money and put it into their savings account.

Economic stimulus package number one was suppose to get our slow economy going, by then president bush had not heard of a 4 dollar a gallon of gasoline.
By now that's old news and as he put it on he's own words "he's heard of it now".

Well now mr president one gallon of gas almost hits the 5 dollar mark, have you heard of it?

Anyhow, the 100 billion dollars in checks that circulated among many Americans (600.00 for singles, 1,200.00 for couples) apparently didn't help.
The money went out on time and gas prices went up just on time as well.
With gas prices, food prices also went up.
Isn't that how it usually works?
Gas prices go up everything goes up, after all business have to make up for the extra expenses and they just pass the check onto us.

Here's an idea!

How about lowering the tax on gasoline?
Do we really know how much money we pay on gas taxes in the u.s?
Aren't this taxes imposed by our government, well maybe our government can really give a stimulus to our morale and lower the taxes we pay on gas prices.
A lower tax in gasoline prices will stimulate business and consumers, it's not rocket science!

Source for this quote: Wikipedia
"Fuel taxes in the United States vary by state. For the first quarter of 2008, the average state gasoline tax is 28.6 cents per US gallon, plus 18.4 cents per US gallon federal tax making the total 47 cents per US gallon"