23 January
“It’s the economy stupid”. Where have I head that mantra? It’s proving to be an ulcer producing ride for many investors on wall street. For the low end income people, the drop of 3/4 % of the prime rate (and possibly more to come) it will mean lower interest rates for savings accounts down the road. Since I know very little about the stock market and being very conservative about my savings, I have to rely on certificates of deposit for any money that I hope to get a little better interest on. We citizens who live just above the poverty line are indeed feeling a recession. We are dealing with the mortgage and credit crisis, the high cost of college, paying crazy prices for gas to get us to work, if we have work, and forgoing visiting the doctor as often as we should because of rising medical costs.
I can’t imagine the lies Bush will spin during his last State of the Union Address next week. If it’s anything like previous ones it’s from a different reality than mine. A study by two nonprofit organizations discovered that the Bush administration issued 935 false statements about Iraq’s threat to national security during a two year period. As Congress debates over the proposed stimulus package, I can’t help but wonder if those who don’t earn enough to pay taxes will benefit. The decision of who gets what and how much is still in the works. In my opinion it should go to the poor and unemployed, the ones who really need it. I can’t help but wonder if a stimulus package will truly help the economy.
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