Well this blog is about a few government programs that I think have a little bit of insanity to them, and I will tell you why.First of all the programs:
- Cash for Clunkers http://www.cashforclunkers.org/ Was this program set up so everyone could buy (spend their money) a new car or so the government could have their constituents spend their money to help out a failing industry? I believe the later. The interest is not in the people but in the companies.
- $8,000 First Time Home Buyer Credit http://www.federalhousingtaxcredit.com/2009/glance.php Again, is this to help first time home buyers or is this to try and save a industry that imploded. Either way it encourages the general public to spend, spend, spend. Yes, it may be a good time to buy a home now but the overall incentive is to get in debt. An acquaintance told me that they bought a home and tried to use this 8,000 but in the paper work, it is worded that the 8,000 has to be paid back through the life of the loan? I wouldn't mind hearing if others have had similar experiences?
- Cash for Refrigerators (Yes Refrigerators) http://www.businessweek.com/bwdaily/dnflash/content/aug2009/db20090821_304909.htm Wow what will they they think of next, Cash for used toilet paper? Again, this effort is to help the companies Whirlpool and Electrolux.
Please tell me that someone else sees the underlying problem here?
Does it make any sense at all that during a BIG recession that our very own government leaders put out incentives for Americans to spend their money?
Is this not one of the biggest OXYMORON's of all time; nation in recession, nation encouraged to spend and go in debt (by the leaders???).
In most cases, the average American does not have any money to spend. The average American is in debt, yet the government finds a way to advertise cars on sale, refrigerators on sale, houses on sale, spend-spend-spend. Yes, spend money you don't have!!!
Our government clearly spends money they do not have. That is ever evident by the national debt clock about to hit 12- TRILLION.They say we are almost out of the recession and things are looking up, however I fear they are wrong.
The next presidential candidate that will take on national debt as if it was Saddam Hussein has my vote.
PULL YOUR HEAD OUT...
1 comment:
The current $8,000 rebate does not need to be repaid as long as the property is your primary residence for at least 36 months. The previous $7,500 credit does have to be repaid (spread out into payments over 15 years).
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