After pushing for the government to save the day as the economy comes to grips with bad business decisions made in the credit markets, “CBS Evening News” doesn’t think the government’s tax rebate will be enough.
“The government started sending out those tax rebate checks today, but they may not do all that much to stimulate the economy because a lot of the money will be used to pay for basic necessities like energy,” “CBS Evening News” anchor Katie Couric said on the April 28 broadcast. “The price of oil approached $120 a barrel today before closing at a record $118.75.”
Despite some receiving checks between $300 and $1,200 and an extra $300 per child, Couric deemed the rebate checks as “shrinking” because of high gas prices.
“Another all-time high for gasoline as well, a nationwide average of $3.60 a gallon – [CBS correspondent] Anthony Mason now on the incredible shrinking rebate,” Couric said.
Mason was concerned that people will do something responsible with it – like save it or use it to pay down debt.
“The government is hoping we all go out and spend that money,” Mason said. “[I]n fact, more than half of those expecting a check, according to a new CBS News survey, intend to pay down their bills. More than a quarter say they’ll save the money. Only 18 percent plan to spend it.”
In January 2008, the media were as quick to hype the stimulus proposal as it was being debated in Washington.
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And what's her solution?
April 29, 2008 - 16:17 ET by mattmAnd what's her solution? More environmental mandates? Higher taxes? More welfare?
"Anyone who 'thinks green' and complains about the economy is an hypocrite." - Publius
Maybe Katie could use her
April 29, 2008 - 16:22 ET by Tim the EnchanterMaybe Katie could use her tax rebate (I know, she's not "entitled" due to her income level) to get another public colonoscopy. Come to think of it, she is definitive, living proof that colonoscopies cause brain damage in liberals.
Tim, I think Katie should opt for the public lobotomy this time.
April 29, 2008 - 18:52 ET by R D HelmFirst of all, it would be an interesting change of pace.
Secondly, no one would notice any real difference in her afterward.
What the American people are looking for is somebody who can solve their problems. - Barack Obama, April 27, 2008
I'm poor as a Church mouse,
April 29, 2008 - 16:41 ET by marpelI'm poor as a Church mouse, but because I had to pull from my IRA to make ends meet to do repairs to my home, I made too much money and don't qualify for the rebate. They don't tell you this until the last minute.
Did your IRA administrator
April 29, 2008 - 17:41 ET by goldbarDid your IRA administrator tell you that you'll also be paying tax on the money you pulled from your IRA?
Why is paying bills with the stimulus a problem?
April 29, 2008 - 18:47 ET by nkviking75I don't quite get why using the stimulus to pay down bills, especially past due bills, is such a bad thing. Is it better that we all buy electronic toys and default on previous obligations?
When you put the clowns in charge, don't be surprised when a circus breaks out.
Actually, I agree with Katie. Sort of.
April 29, 2008 - 19:00 ET by R D HelmThis stupid "Stimulus" nonsense is nothing more than shameless election year pandering on the part of both parties.
What we really need in this country right now is serious long-term, across-the-board tax reform, a swift end to this ethanol nonsense, and opening up areas where we can drill for our own oil, and not just in ANWR, either.
The only people who can fix any of this are the current crop of congress-critters, and apparently, they aren't budging.
What the American people are looking for is somebody who can solve their problems. - Barack Obama, April 27, 2008
I agree with Katie "the
April 29, 2008 - 22:36 ET by jdhawkI agree with Katie "the loser" Couric! Why should we, the American people, behave any different than our local, state, and federal governments? (They borrow money as if they can print the stuff? Oh! Wait a minute. They can print the stuff. And, they are doing just that! This entire boondoogle er . . . stimulus package is being payed for by us. With it, an ever greater slice of our tax dollars goes to just paying the interest on the accrued debt.) We should just blow it on as much frivilous crap as possible. To hell with paying as you go or paying down past excursions into frivolity! Why, I am feeling like an Uncle <Sam> already!!!
But, that is not why Couric is playing this little scence before her incredible shrinking audience. The real reason is the first spat of largesse by us the people through our divine legislators just isn't going to be enough for all us to remember them properly on election day. So, our legistlators are busy putting together still another boondoggle er . . . stimulus package. This one targeting all those that the dimocrats couldn't get the Republicans and our president to go for the first time around. Never mind that it is not needed or even if it gets passed. That's not important. The important thing is dimocrats can remind voters that if there were more of them, dimocrats, there would be more stimulus packages!