The US stocks market is expected to open lower on Thursday after the Federal Reserve raised interest rates by 25 basis points—the second time in three months. The Fed acknowledged concerns about future economic growth and said it would likely raise rates at least once more this year, “well past” its previous forecast of four rate hikes for 2018.
The “business stimulus check” is a blog post from Barry Moltz that suggests an interesting stimulus package for the U.S. economy.
Barry Moltz, a well-known blogger and author, just published an intriguing article about what Obama can do to boost the American economy. Here’s what he recommends:
If we split the $750 billion among the roughly 150 million working Americans, each of us would have $5,000 to spend in current economy. The government would issue special debit cards for us to use during the following 30 days to spend the money (use it or lose it). This would solve all three issues: increasing consumer spending, assisting businesses, and perhaps lowering unemployment… Even better, with the $5,000, Americans could “party like it’s 1999” for the following 30 days.
I’m not sure I agree with Barry on this stimulus plan, but it’s definitely intriguing. The notion of putting money into American hands rather than worrying about whether bailout and stimulus funds are going into the same corporate CEO bonus (or GREED) packages that we’re all hearing about is certainly tempting. Of course, there are many things that might go wrong with a stimulus plan that just dumps money into our hands. I can’t help but think about how you truly limit the purchase of things like booze and drugs, or how you’re worried that the money will be used as a down payment on a vehicle that they can’t afford in the long run. I also worry whether spending so much money all at once would result in short-term shortages of goods and services, pushing up prices and making some businesses extremely lucrative while others may receive very little.
I’m wondering – what are your thoughts on this concept?
Mommy CEO, Sabrina Parsons
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