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« Bibby Wears a Bib, Jungle Time, and other tales from the Boston Garden | Main | Ryan's media diet »

May 02, 2008



I'll divide it into three $200 portions -- each one will go toward paying down bills. How else???



I intend to use my $600 to pay down credit card debt. Hope to see it in my account this coming week.

Cam Beck

I don't think anyone is claiming that this will result in a long-term boost to the economy, just that it will create a short-term illusion... I mean relief.

However, it will stimulate the economy, even if you don't think (as I don't) that it is the proper way to do it. For even if you put it in your savings account, it essentially increases the "cash" available in the economy by a factor of 10 (with a 10% reserve requirement). The resulting devaluation of the currency is another matter.

The economic reason anyone is proposing this is beyond me. In fact, I don't think the benefits can be expressed in economic terms, but rather in political ones. This is what seems to drive today's politicians.

It's as if we have come to expect government to rescue us from the vicissitudes of regular and healthy economic cycles. In my opinion, this is not the best way to encourage others to become self-reliant -- a quality that is necessary for the sustainability of self-government.

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