Free money

[batskeets]

I'm annoyed on multiple levels by the whole stimulus check thing.

When I first heard about the stimulus checks, I was *not* happy. The dollar is weak, at least in part because we keep printing more dollars, which lowers the value of an individual dollar. Printing *more* dollars in order to send out stimulus checks? Fixes NOTHING. As far as "boosting the economy," the stimulus checks are pretty much like slapping a band-aid on a sucking chest wound.

On a personal level, however, my only complaint about my free money is that it's not here yet. I wasn't sure if I'd get a mailed check or a direct-deposit, so I used the "where's my stimulus check" utility, and it didn't give me an answer. WTF, federal government? If you're going to make an economically stupid decision by giving me free money, at least give it to me fast, so I can start using it.

Of course, I don't plan to blow my check on consumer frivolity like they're hoping, anyway. It's going straight into the bank, y'all. I will not play into your evil stupid plans, government fools! Bwahaha!

Comments

[winter-in-asia.livejournal.com]

We've been buying so much equipment lately that our return isn't going to put much of a dent in things at all.

[ghost-girl.livejournal.com]

Aw hell, I used mine for a computer. Now I'm a tool of the Man. Damn you, free money!!

(though in reality the computer came from bonus money I got in march and never spent, so haHA, take that government!)

[halfempty.livejournal.com]

Because of my distrust of all things government, I never even looked into getting one... Also, I think I heard somewhere that you'll end up "paying" next year for the money you get now. Though that may be a myth.

[mathsnerd]

Well, it'll count as income for 2008 and factor into your taxes, of course, but that's all.

[helloandie.livejournal.com]

I think I read on their FAQs that it would NOT be considered taxable income next year.

But it probably will by STATE, if you have income tax in your state.

I'm using ours to move our giant family into a bigger house. I'm not sure if that counts as helping The Man or not, but it's necessary.

I had the same initial reaction to the stimulus package, though and it's nice to know someone else is like-minded. I remember in a polysci class my first semester at OU someone asked "If we're running out of money, why don't we just print more?" and there was an hour long debate about this.
It kind of made my brain bleed a little.
I never expected our government to be that unthinking, but my naivety is starting to wear off.

[mathsnerd]

I don't know what your social ends in, but mine is 99 and so I'm the last group to get my direct deposit (a week from today). You can't track it until they're processing it, so I figure I'll be able to track it next Friday. If you can't get a response from them then, then you can bitch legitimately. ;)

[solagirl.livejournal.com]

Checks don't start getting distributed until May 9th (today!), and it is based on the last two numbers of your SS#.

[skeets.livejournal.com]

Yeah, I know mine's not going to be here yet. :) I'm mainly grumpy that I don't know *when* it will get here.

And people have already been getting theirs... want moneys!

[aaron.livejournal.com]

Hykel and I got ours on the 2nd, it came in direct deposit...

oh, I saw this and thought of you:
http://www.craigslist.org/about/best/alb/621862265.html

[lillilah]

Hmm, I would have thought that they would be financing the stimulus by borrowing or from taxes rather than by printing more money. Printing more money leads directly to inflation, which is something the Fed is really worried about. Since the Fed controls the money supply, I doubt they'd do that. Also, I got the impression that the value of the dollar was more directly related to trade than to the size of the money supply. If you import more than you export, the value of your currency goes down, which ultimately means that your exports will look better and imports will be more expensive, which should help with the trade imbalance. Normally, when you buy imports you are "sending currency overseas". Bush sent palettes of dollars (literally) to Iraq. Anyway, Joel points out that incurring more government debt makes the government less solvent, which does lower the value of the dollar. But I still don't think that we are printing money to cover this. Hyperinflation is bad.