Bush's Economic Plan

I was reading an article about Bush's new economic strategy. I do not understand this man's thinking. He finally admits, "There is a risk of a downturn," the president said in his remarks at the White House, regarding the economy." Risk of a downturn???? In my opinion it is way beyond that.

The article then went on to say, "The president and Congress are scrambling to take action as fears mount that a severe housing slump and painful credit crisis could cause people to close their wallets and businesses to put a lid on hiring, throwing the nation into its first recession since 2001." I think we are beyond this as well. There are so many people who have lost their homes in this country. There are so many who have filed for bankruptcy. There are so many who can not get any credit, even if they wanted to spend it. There are so many who can not pay their bills. The price at the gas pumps are bleeding people dry.

Also, "He also called for tax relief for individuals — probably to come in the form of one-time rebates. But he did not say how much money Americans would get to keep or the amount of other tax incentives that could be in the package. Nor did Bush detail how the nation would pay for such a plan."

I am all for tax relief don't get me wrong. In our business, we pay a little under $0.30 per every dollar Craig takes as income to taxes. But this is not the way to do it in my opinion. Our country is drowning due to our national debt. We are risking our security by owing so much money to other countries like China. The war is taking a lot of resources that could be used in better ways. I just don't see this as a smart move. A one time rebate check for $1600 is not going to turn things around for the average married couple who is struggling. That doesn't even cover a lot of peoples' house payment for one month.

Click on the title if you want to read more. Thanks for listening to my tirade!

P.S. Before I even got this posting done, the stock market had already began to fall because of Bush's announcement.