$250 per Retiree

[salesrep]

Oh boy.
This ought to stimulate the economy.

50 million retired folks to get $250 each as part of the stimulas bill.
If my math is correct this equates to a total of 12 and 1/2 billion from the porkulas bill.
Now... $250 spent or saved per cannot really stimulate the economy can it?
Or, here is another way to look at it. If all non-retired citizens (250 million) in the USA gave $50 to a fund ... then we can distribute $250 out to each of the remaining 50 retired folks.

Sooo did my family of five just give my mother $250?

 

[CivicFan]

Originally Posted By: salesrep

Oh boy.
This ought to stimulate the economy.

50 million retired folks to get $250 each as part of the stimulas bill.
If my math is correct this equates to a total of 12 and 1/2 billion from the porkulas bill.
Now... $250 spent or saved per cannot really stimulate the economy can it?
Or, here is another way to look at it. If all non-retired citizens (250 million) in the USA gave $50 to a fund ... then we can distribute $250 out to each of the remaining 50 retired folks.

Sooo did my family of five just give my mother $250?


No, your great grandchildren gave your mother $250.

 

[CivicFan]

Given the issues the retirees are facing, this is not a bad approach. It is certainly better than the $800 billion given to the financial institutions with no strings attached.

 

[Steve S]

It won't even put a dent in the tax increases.

 

[Kruse]

Originally Posted By: CivicFan
Given the issues the retirees are facing, this is not a bad approach.


The people who will benefit the most will be the bingo and casino owners.

 

[astraelraen]

They did this because retirees/people who live on Social Security/people who don't work wouldn't get anything out of the Making Work Pay tax credit, where they lower the taxes withheld on your paycheck for 2 months or whatever.

If you are going to give out free money you sure don't leave out the seniors. That's like political suicide.

 

[Pablo]

I thought this is verboten territory.

 

[Johnny]

I thank you all for my $250

 

[Jim 5]

Originally Posted By: CivicFan
Originally Posted By: salesrep

Oh boy.
This ought to stimulate the economy.

50 million retired folks to get $250 each as part of the stimulas bill.
If my math is correct this equates to a total of 12 and 1/2 billion from the porkulas bill.
Now... $250 spent or saved per cannot really stimulate the economy can it?
Or, here is another way to look at it. If all non-retired citizens (250 million) in the USA gave $50 to a fund ... then we can distribute $250 out to each of the remaining 50 retired folks.

Sooo did my family of five just give my mother $250?


No, your great grandchildren gave your mother $250.


Probably more like your great grandchildren's grandchildren gave it, and when the time value of money is worked in, it will probably cost them at least $10,000.

 

[CivicFan]

Originally Posted By: Jim 5
Originally Posted By: CivicFan
Originally Posted By: salesrep

Oh boy.
This ought to stimulate the economy.

50 million retired folks to get $250 each as part of the stimulas bill.
If my math is correct this equates to a total of 12 and 1/2 billion from the porkulas bill.
Now... $250 spent or saved per cannot really stimulate the economy can it?
Or, here is another way to look at it. If all non-retired citizens (250 million) in the USA gave $50 to a fund ... then we can distribute $250 out to each of the remaining 50 retired folks.

Sooo did my family of five just give my mother $250?


No, your great grandchildren gave your mother $250.


Probably more like your great grandchildren's grandchildren gave it, and when the time value of money is worked in, it will probably cost them at least $10,000.


Well, the present value is $250. Given the very low rates the government can borrow money nowadays, it makes a lot of sense to just borrow it (I wish I could borrow at 3.5%).

 

[Kruse]

Originally Posted By: CivicFan
Originally Posted By: Jim 5
Originally Posted By: CivicFan
Originally Posted By: salesrep

Oh boy.
This ought to stimulate the economy.

50 million retired folks to get $250 each as part of the stimulas bill.
If my math is correct this equates to a total of 12 and 1/2 billion from the porkulas bill.
Now... $250 spent or saved per cannot really stimulate the economy can it?
Or, here is another way to look at it. If all non-retired citizens (250 million) in the USA gave $50 to a fund ... then we can distribute $250 out to each of the remaining 50 retired folks.

Sooo did my family of five just give my mother $250?


No, your great grandchildren gave your mother $250.


Probably more like your great grandchildren's grandchildren gave it, and when the time value of money is worked in, it will probably cost them at least $10,000.


Well, the present value is $250. Given the very low rates the government can borrow money nowadays, it makes a lot of sense to just borrow it (I wish I could borrow at 3.5%).



Are they borrowing it, or just printing more?

 

[CivicFan]

Some of it is printing as you need to increase the money supply to accommodate the economic growth (haven't researched exactly how much it is this year). But the vast majority is borrowed. There is a lot of money sitting on the sidelines scared of the market turbulence. Government bonds are a perfect tool to preserve this capital for the owners at this point. When this passes, they will start investing in higher yield places but then there wouldn't be a need for so much government spending - the stimulus bill and TARP are one time deals. Hopefully in a few years we will be in a position to start paying these debts back as the interest rates start climbing.

 

[oilyriser]

Originally Posted By: salesrep
Sooo did my family of five just give my mother $250?



No, your family of five gave $400 the seething throngs of bureaucrats, leaving $250 for your mother.

 

[Tempest]

Buying votes. Nothing more.

Quote:
Hopefully in a few years we will be in a position to start paying these debts back as the interest rates start climbing.

Deficit spending is projected to go through the roof in the next ten years.

 

[Kruse]

Originally Posted By: CivicFan
Hopefully in a few years we will be in a position to start paying these debts back as the interest rates start climbing.


I'm old enough to have lived through a few presidential elections and in every one that I can remember the candidates all say that they will knock the deficit down or even balance the budget. Guess what...none of them have lately. With the previous track record of the last few candidates, I'm a little leery when I hear that coming out of anybody's mouth. Good luck with that one.