Are you feeling economically stimulated yet?

I received my Economic Stimulus Payment Notice from the IRS recently.  I was very excited.  Stimulated, in fact.

Under the economic stimulus plan approved by Congress and signed into law by Bush, about 128 million households will receive checks for approximately $600 per adult.  Everyone, of course, is expected to rush right out to purchase unneeded electronic gizmos which were designed in Japan and manufactured in China.  This will stimulate our economy.

Under an entirely different economic stimulus plan, decreed by Federal Reserve chairman Ben Bernanke, with no vote from Congress, the investment bank Bear Stearns will receive a check for $30 billion.  That works out to $234.38 for each of the households getting the $600 checks.

Let's look at this from some other angles.  Without the Bear Stearns bailout, maybe we could all be receiving checks for $834.38 instead of a mere $600.00.  Think how many more consumer gizmos we could buy to stimulate the economy.  Or, maybe what's happening is that we're being asked to write a check to Bear Stearns as our first stimulating act.  That brings the stimulus package down to $365.62 per stimulated taxpayer. 

That means fewer electronics for us taxpayers, of course, but the news comes as a big relief to Alan Schwartz, Top Dog of Bear Stearns, who is barely managing on his $16.5 million per year compensation.

What a generous, caring people we are to come to the aid of a single powerful corporation like Bear Stearns.

What about the nearly two million people who are facing foreclosure on their homes, you might ask?  Hey, $365.62 is more than enough to rent a U-Haul van for the weekend.  What's the problem?

Comments

[Mark Coe]

I haven't received my IRS stimulus notification yet. Since the notice is designed to lead up to stimulation, is it a form of economic foreplay? And not a moment too soon. Since we have consistently been screwed by this administration during the past seven years. Unfortunately, their STD's (Stupidity Transmitted Debacles) will long outlive their days in office. So, bend over. Another election is coming.