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?
Author: Jeremy Vohwinkle
My name is Jeremy Vohwinkle, and I’ve spent a number of years working in the finance industry providing financial advice to regular investors and those participating in employer-sponsored retirement plans.