Tuesday, October 27, 2009

Expanded Giveaways (Stimulus Spandex?)

Expanded Giveaways (Stimulus Spandex?)

I have a mountain of paperwork to get caught up on and I really have lost the will to write anything tonight anyway.

In a preview that should be noted by many across the financial world (you know who you are) the home buyer tax credit looks like it will be not only renewed, but aggressively expanded come Friday.

Relevant headlines:
Democrats Agree to Extend Home-Buyer Tax Credit: Dodd

Senate Close to Deal Replacing Homebuyer Tax Credit

This is a disgusting and craven move by the US Congress after heavy pressure was exerted on them by the housing industry lobby.

The tax credit has already been shown to be full of fraud, wildly expensive, and not very effective. Never fear, it goes on and gets bigger.

I would like to point out the following programs that will be seeing expansion and/or renewal over the next 6 months:
-Quantitative Easing 2.0
-MBS Purchase Reload
-Cash for any Clunker (Cars, boats, ovens, alarm clocks)
-Stimulus 2.0

Now get out there and buy US debt this week world! We are good for it!

Have a good night.

3 comments:

watchtower said...

Dear Gubment,
Instead of another 'check in the mail' I would like to request a ride in an F15.
Why should only celebrities be allowed to go up?
If granted I promise to go out and get this eConomy jump started by procuring a hotel room and transportation to the air base of your choice.
Sincerely,
Watchtower

getyourselfconnected said...

Watchtower,
great idea!

how about "Aircraft Carrier Launches and Landings" tickets? I would buy one.

watchtower said...

Sign me up too!