Stimulus package isn’t the answer

Re “Bush calls for tax rebates,” Jan. 19

President Bush’s so-called economic stimulus plan might be his most cynical proposal since his post-9/11 recommendation that we go shopping. It is nothing less than an attempt to keep the economy afloat through the end of his term, regardless of the consequences.

Putting $800 (for individuals) or $1,600 (for married couples) in our hands would prove devastating. Hardly any Americans save any of their income, our infrastructure is crumbling, deficits are at record highs, the sub-prime fiasco is in full swing, and Bush has again suggested that we go shopping. This, after having already spent hundreds of billions on his ill-advised escapade in Iraq.

Timed perfectly, another tax cut now would complete the wrecking of our economy on the watch of the next, likely Democratic, administration. Congress needs to end the occupation of Iraq and refrain from issuing any further tax cuts, “one time” or not.

Scott Kaye

Los Angeles

Not only would the proposed economic stimulus package make our deficit worse, it’s a complete sham.

Even if everyone spent the tax rebate, it would only “help” retailers. How does buying an Apple iPhone fix the credit crisis in the financial sector? How will spending my rebate check at Old Navy help borrowers? How does any of this help banks, lenders or mortgage insurers?

No, there is only one reason for the tax rebates: so politicians can say, “The recession is over.” If there is a momentary uptick in the gross domestic product in a fiscal quarter, then by definition the recession is over. If the checks go out fast enough, politicians might even be able to say, “We avoided a recession.”

This package won’t address the underlying problems affecting our economy, but it will put us even deeper into debt.

This $150 billion is a lot of money that has to come from somewhere.

Where, exactly?

Mike Patterson

Los Angeles

As a self-employed person whose income plunged and debt skyrocketed because of a medical situation, the proposed economy booster probably won’t bring me any relief.

Wouldn’t a more effective and long-term stimulant be a quick cash infusion for corporations, businesses and nonprofits that provide long-term solutions? These would include training and hiring programs for Americans, reductions in outsourcing, and the research and implementation of innovations in the fields of ecology, healthcare and infrastructure improvements -- what Washington should have been supporting all along.

Susan Braig

Altadena

In 1972, Democratic presidential nominee George McGovern proposed that the federal government send $1,000 to every American. For this, he was laughed out of the election and carried only one state. In 1980, he was drummed out of the Senate.

Now, to ease our national economic doldrums, Bush wants to do essentially the same thing, and it’s considered sound economic policy. This “conservative” wants to throw money at a problem.

Stan Gordon

Encino