The Federal stimulus package last Spring distributed about $600 or $300 to each taxpayer, depending on the status and income of the recipients. It had a very minor effect on the economy.
The reason it failed for the most part is that the 'economy' is now global.
What did people do with the cash? They...
1. Saved it.
2. Paid bills with it.
3. Made discretionary purchases with it.
It turns out that number three was the most popular effect. People bought gasoline with it or spent it on goods.
We live in a global economy now. When people buy automobile fuel the bulk of that purchase ends up in an OPEC country's pockets, not ours. We now import a majority of our crude oil from them. Most of our clothing is made in China. Look on the back of a flat-screen HDTV and you'll probably discover that it was made somewhere in the Far East, too.
The 'stimulus' helped, but it also helped national economies other than our own.
Rather than cut checks to individuals for the next 'stimulus' package, the Treasury should redirect it into a national infrastructure rehabilitation program. Our infrastructure is in dire need of a fix. The rails, bridges, highways and sewer systems are falling apart. Most cities' sewers were built scores of years ago - some over a century ago. We know how bad the roads have become. Bridges have collapsed, and the rail system is overworked and under-maintained.
Repairing and/or rebuilding infrastructure would create millions of jobs. It would benefit the United States instead of Saudi Arabia, Abu Dhabi and Venezuela. It would put good people into decent-paying jobs, revitalize regional and local economies, and it would have long-term effects instead of a temporary blip in consumer spending.
........
On another note...
I have Time Warner cable. They lost their only FOX network channel out of Toledo. That channel wanted more cash, partly due to the fact that FOX has the monopoly on broadcasting the baseball World Series.
The series begins Wednesday night.
Still, no FOX channel.
Fox carries my favorite program, too - HOUSE.
No World Series, no House?
Are they crazy?
I have emailed, called and complained, to no avail.
AT&T will be here Wednesday morning to unplug the cable and hook me up to the AT&T system via their phone lines. I didn't even know that was possible. I do have AT&T phone and DSL anyway, so I had it bundled and really got a deal.
I had no contract with Time Warner, so they can go to hell.
Imagine! No World Series? I wonder how many subscribers they are losing around here.