Capital Commerce

$700 Billion for Wall Street, $700 Billion for Main Street?

Comment

Posted: October 31, 2008

In an E-mail, liberal economist Dean Baker of the Center for Economic and Policy Research notes that if Americans push their savings rate from the current 1.3 percent to the post-WWII average of 8 percent, it would imply a fall in annual consumption spending of roughly $700 billion.

It just so happens that makes for a nice compromise number for a possible 2009 stimulus package from the Obamacrats. (I have bean hearing numbers from $500 billion to $1 trillion.) Of course, Americans won't feel as impelled to save if we get a nice rebound in net worth from a new bull market in stocks, but that might not happen if we get higher investment taxes and the elimination of tax breaks for retirement plans. Hmmmm ....

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Bailout Bullstuff!!!

All the Bull associated with the bailout was simply another Bush Buddy plan to provide money to expand businesses not as was explained. The bailed out banks aren't lending they are merging expanding their own holdings with our tax dollars upon which we are paying interest. Just anotherscam from the people who start wars under false pretenses.

Ray Fisher of NM @ Nov 02, 2008 03:50:49 AM