Monday, Jan 05, 2009
Dind Ding Round two! Its only cash.
BBC News: Obama 'planning $800bn stimulus'
US President-elect Barack Obama is meeting Congressional leaders to discuss his plans for a multi-billion dollar stimulus package.
US media reports say the package could be worth more than $800bn (£551bn), including $300bn of tax cuts - which would be higher than had been expected.
Posted by flintster1994 @ 08:38 PM (264 views) Add Comment
1 Comment
- If you do not have an admin password leave the password field blank.
- If you would like to request a password allowing you to add comments and blog news articles without needing each one approved manually, send an e-mail to the webmaster.
- Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
- Please note that any viewpoints published here as comments are user's views and not the views of HousePriceCrash.co.uk.
- Please adhere to the Guidelines
1. 51ck-6-51x said...
Right, so Uncle Sam
1) Has spent spent spent - TARP etc..
2) Will now cut taxes (equivalent spend) Oh and spend some more too
3) Will have reduced future tax receipts (since the environment is recessionary)
All this spending is aimed at easing the recession in the U.S. - well that's fine logic, but what does it imply? It implies that the U.S. are trying to inflate their way out of debt. Well, let's hope China et al play ball (i.e. are willing to allow the paper they have been given for goods already delivered to depreciate). If they decide the US paper should be cashed in sooner rather than later then we could well see a run on the US whence the global recession will turn into a global depression (or even WW3 in the worst-case). I guess China will play ball, since Uncle Sam will probably be a well behaved consumer once again soon enough...
- thoughts anyone?