President Bush and Federal Reserve Chairman Ben Bernanke today endorsed the idea of an economic stimulus package to boost the flagging economy, as Bush began discussions with congressional leaders on the next steps.
Both parties support tax rebates for individuals, to get cash into consumers’ hands quickly. Democrats would also like to increase funding for food stamps and extend unemployment benefits, while Republicans want to allow businesses to accelerate write -offs of equipment purchases and other capital expenditures.
On Friday, Bush plans to make a more public announcement about the possible stimulus package, but will anything help? Or is this simply trying to put a band-aid on a major wound? What do you think?
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About the Author: Jeremy Vohwinkle is a Chartered Retirement Planning Counselor® and spent a few years working as a financial planner. Today, he helps people make the most of their money by writing about personal finance here and elsewhere on the web. Jeremy is also Coach at Adaptu and a regular contributor for other publications such as Intuit, and American Express. Be sure to follow Jeremy on Twitter or Google+.