dcpolitico's Blog

    One thing is for certain. No matter who assumes the Presidency in January will have an enormous task in regards to the economy.
    Don’t get me wrong. We could see an economic revival in the next six months. But don’t bet on it. Those tax rebates that will begin going out today have about as much chance as stimulating the economy as Paris Hilton being accepted into MENSA. The rebates, up to $600 for an individual, $1,200 for a couple and an additional $300 for each dependent child, were originally intended to boost consumer spending. But this stimulus package, a somewhat hastily put together brainchild of the Bush administration intended to stem the recession tide, will be gobbled up by rising energy and food costs.
    A one time check available to approximately 130 million households can’t even be characterized as a quick fix. With unemployment on the rise, the plummeting of home prices, and a credit crisis, this is the long awaited plan coming out of Washington to shore up a shaky economy. No wonder there is a crisis of confidence among the electorate.
    No one believes there are easy answers to our economic troubles. But passing off the issue to the next administration is unacceptable.

Tom DiBacco