Saturday, February 23, 2008

The Stimulus package - Advantage China

Photo courtesy: www.glennbeck.com

My family with two kids and with our level of income will be getting 1800 USD sometime around May 2008. This would be thanks to the stimulus package approved recently by President Bush.

I already have plans...Yeah..I would be able to payoff some of my credit card debts !

I am not sure how it would help in the long run! I am not an Economist so I don't want to go deeper into this, but I as a common man feel that this is only a 'Band Aid'.

I found this discussion funny. This was in CNN Headline News where Glenn Beck was talking about it.

This is what he said:

  • The money for the package is being borrowed from China.
  • US has to pay interest for it.
  • People will be using it to buy products mostly manufactured in China.
  • So the money again goes back to China.
  • Who gains ? - China
  • China gets back the money + Interest on the money + money made by the increased sales of Chinese made products.

So, this is a Great Economic Simulus package for China!

3 comments:

Anonymous said...

No Sir, I totally disagree with you. I hope you know how it is in Cleveland, Chicago and Detriot slums.

tt_giant said...

Glenn Beck! Now that is someone like our subramanya swamy.

I am waiting for my stimulus package too!!

V said...

Sir,

I think it was the Presidential candidate Mike Huckabee's words during an earlier debate and not Glenn Beck's.