Bush: Rebate Checks Will Make Economy ‘Stronger Than Ever Before’
Bush: Rebate Checks Will Make Economy ‘Stronger Than Ever Before’
Yesterday, President Bush visited a small business in Virginia and discussed his plans for reviving the economy. To make the economy “stronger than ever before,” Bush argued, we must wait for people to spend their rebate checks:
There’s a rough patch right now in our economy, but I’m confident in the long term we’ll come out stronger than ever before. One of the most decisive actions a government can take is to give people their money back so they can spend it, and that’s exactly what we’ve done. In the second week of May, a lot of folks are going to be getting a sizable check. And I’m looking forward to that day, and I know they are as well.
Watch it:
Bush may want to start coming up with other options to stimulate the economy. While taxpayers have traditionally spent half to two-thirds of their rebate checks, this current economic situation is unique. “We’ve never done this in a period when American households are so deeply indebted,” said Economic Policy Institute senior economist Jared Bernstein. “While [saving the rebate] is a valiant thing to do, what you want them to do is spend it.”
Poll numbers bear out this prediction. A recent CreditCards.com poll finds that almost half the American public plans to either save their rebate checks or use them to pay off debt:
Results from a CNN/Opinion Research Corp. poll were even more dramatic, with 53 percent of the public planning to “use their rebates to pay off bills” or “put the money in savings.”
This check, however, may be all the American public receives from the Bush administration, which has been willing to bail out irresponsible financial institutions but do nothing for struggling homeowners.
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But let’s have more massive tax cuts and welfare payments to the ultra-wealthy plutocrats. That is the plan endorsed by John McBush.
March 27th, 2008 at 2:40 pmchina thanks you for all the interest on the new loan!
March 27th, 2008 at 2:40 pmmy “rebate”, such as it is, is going into the bank.
March 27th, 2008 at 2:41 pmThe only check I’ve got my eye on is Bush & Co ‘Checking Out’.
March 27th, 2008 at 2:41 pm“I understand the public’s not very bright. That’s why this is the second time I’m going to “buy them off” with a token check. They’ll think it’s a big deal, and I say it is a big deal. What they don’t know is that me and my Dad’s buddies got checks with about 9 more zeroes on’em. Heh! That’s what I call better than ever before! Heh heh heh…6 hundred bucks! heh heh heh. Man, you people are toooooo easy…heh heh heh.”
Hey righties, line up - Dubbie wants you to pull his finger.
March 27th, 2008 at 2:43 pmBush is going to buy some booze with his rebate check.
March 27th, 2008 at 2:43 pmWhere is this money coming from? and how does this reflect well on the fiscally responsible repubblicans?
March 27th, 2008 at 2:47 pmLike John Stewart said on TDS, “Sorry about screwing up the economy - here, go take your wife out to Black Angus for dinner.”
March 27th, 2008 at 2:47 pmhellinabucket Says:
March 27th, 2008 at 2:47 pm
Where is this money coming from? and how does this reflect well on the fiscally responsible repubblicans?
Are you not familiar with the Republinut plan that tax cuts will magically gain more tax revenue?
You have to believe in it, like believing in that invisible sky guy or it won’t work.
/be the snark
March 27th, 2008 at 2:52 pm7 - I think fiscal responsibility is one of those “quaint, pre-9/11″ things that R’s and Con’s don’t have to worry about any more.
March 27th, 2008 at 2:52 pmI wonder how many will need to use their rebate checks to pay for health insurance premiums or prescription medications? I guess that would fall under the “living expenses” category.
March 27th, 2008 at 2:54 pmBoth dudes look like they’re up to something - just exactly where are their hands? Betcha old Barbara B used to catch Dubya with the same expression on his face when she entered his bedroom unannounced during his teen years.
March 27th, 2008 at 2:56 pmThere are only two things he is able to predict.
1. When Laura will take her next dose of meds.
2. When he will sit down at the table and eat like the pig that he is.
Why this idiot gets any face time on the tube, I have no idea.
March 27th, 2008 at 2:57 pmBush: Rebate Checks Will Make Economy ‘Stronger Than Ever Before
Yeah, a Recession is kind of a colonic for the Gross National Product, says George W. Hoover.
March 27th, 2008 at 2:59 pmI hope everyone saves their “rebate” checks, for they are going to be taxed on your next return.
This isn’t free money…it’s basically a loan.
March 27th, 2008 at 3:00 pmI’m going all out and buy a tank of gas. If the dollar doesn’t drop too far before now and then I might just get a beer, too.
March 27th, 2008 at 3:00 pmI think Bush must be sniffing cocaine again… specially after his support for the criminal Colombian president, Uribe, who has connections with the narcotrafic and paramilitary terrorist milicias. Cocaine, alcohool and stupidity do not go well…
March 27th, 2008 at 3:02 pmRepublicans will cut your taxes by making sure you have less income.
March 27th, 2008 at 3:02 pmKay Says:
March 27th, 2008 at 3:03 pmBush is going to buy some booze with his rebate check.
——————–
Me too!!!
Change your rebate check into EUROS
Inflation will get the goverment back their rebate check anyway
March 27th, 2008 at 3:03 pmI make too much money, so not getting squat. But the amount they are sending out is laughable if they think it is going to help anybody.
Fill er up = $70, two bags of groceries = $50, Gold = 1000 oz
Do the math, 600 bucks doesn’t buy much now a days. These guys are so out of touch with the reality many Americans face, that you just have to wonder if they have ever even talked with real Americans.
March 27th, 2008 at 3:06 pmIs Bush being ‘Condiscending’ to the American people?
Is $600 going to change your life or spending habits?
March 27th, 2008 at 3:12 pmI’ll gladly give up my ‘rebate’ for a Bush early exit.
“Sizeable checks?” Ranging from $300 to $1200 (joint-filing couples). And those who earned less than $3,000 last year get nada. My “sizable” check will be used to continue to pay down credit cards. Not much of a contribution to the economy, I guess. A much larger contribution to the economy would have been extending unemployment benefits. Or funding infrastructure repairs and rebuilding, which would have created jobs…even better. Let’s not forget the millions of dollars that the IRS spent sending out “heads up” letters as well. The best idea would be to stop spending $2 billion per WEEK in Iraq. Better to spend borrowed money on massive jobs programs in the U.S. rather than on the continuing destruction of another country. The prior has a positive payoff for this country; the latter is a never-ending rathole sucking up money and life.
March 27th, 2008 at 3:13 pmUsing the 2000 Census & faking it a bit, I figured the median family income to be about $60000 (ha) from $50046 in y2k. Median household size 3.14 so rounded up to 4 people. Rebate is $2400, not chump change, except for Cheney/Bush. But as noted elsewhere, personal debt in the US is $2,520,000,000,000.00, so pay it down folks!
March 27th, 2008 at 3:19 pmAnybody receive their letter explaining the rebate yet?
We received ours last week, maybe the week before, and my husband says we are getting back 1200 bucks. I read the letter and said, I seriously doubt that because it says right here after the 1200 for married people and that anything between 75K and 150K can be reduced or phased out all together. Well, our AGI for 2007 was closer to 150K than 75K so I’m sure we will be phased out.
March 27th, 2008 at 3:22 pmBut, if we do get anything, it’s going into savings.
March 27th, 2008 at 3:23 pmHow about this - a nationwide movement to STIMULATE THE CHANGE
March 27th, 2008 at 3:27 pmlet’s try to get Dems to give a certain percentage to the Dem Candidate ( we will have one - I am rooting for Obama) and use Bush’s rebate money to turn the White House and Congress Democratic - anyone want to take this on or send it on - be my guest!
This man truly does live in a bubble. Sizeable amount? not likely. Stronger than ever before? That’s just dumb talk. Are we really in a position to unseat the greatest generation that this country has ever seen?
Bush may want to believe this. He may have people still yesing his every word (hitler did up until the end). But he is flat out wrong.
March 27th, 2008 at 3:35 pmThat picture does look like the boys are at the trough.
March 27th, 2008 at 3:37 pmThe folks in the background look they might have weapons pointed at them.
March 27th, 2008 at 3:40 pm31 - why do you suppose we want one of them elected, nitwit?
Maybe you should ask you Cheerleader Prince why there are so many more poor people now than before he was elected.
dolt.
March 27th, 2008 at 3:45 pmprogressinourminds Says:
March 27th, 2008 at 3:41 pm
Maybe you should ask Mr. $500,000,000 man Obama and Mrs. $500,000,000 Hilary to help the poor. 1 billon would do a lot of good for a lot of people!
——–
But it would garuntee a McCain win…
March 27th, 2008 at 3:48 pmWhich would garuntee our spending how many hundreds of billions in Iraq over the next 4 years?
Wow, the power of a $600 check. Who knew?
Send one to Bear Stearns and tell them that’s all they need.
March 27th, 2008 at 3:48 pmthemancantspell still can’t make any sense, either.
I’ve seen some lame trolls in my time, but this one really takes the cake.
March 27th, 2008 at 3:51 pmI think the idea that Jim Wright has on his blog is a good one…hold on to your rebates until after Jan. 2009 so that the new President gets the economic boost, not Bush et al.
http://www.stonekettlestation.blogspot.com/ 2008/ 02/ stickin-it-to-man.html
March 27th, 2008 at 3:51 pmFriday, February 8, 2008
Stickin’ it to the Man
LOVE IT!!!
Progfin Says:
March 27th, 2008 at 3:51 pm
I think the idea that Jim Wright has on his blog is a good one…hold on to your rebates until after Jan. 2009 so that the new President gets the economic boost, not Bush et al.
http://www.stonekettlestation.blogspot.com/ 2008/ 02/ stickin-it-to-man.html
March 27th, 2008 at 3:54 pmFriday, February 8, 2008
Stickin’ it to the Man
Could someone explain to me:
The economy is slack clearly and indisputably because taxes are too high and leave so little in the pocket of the American public.
Last year has seen a loss in housing value (let’s say for example, $ 10,000 per house) and a rise in gas prices (mileage has risen from 30 cents a mile to 47 cents a mile, so lets say $ 1768 per car based on 200 miles a week) and an increase in essential groceries (let’s say $520 a year).
Total Loss = $ 12,288
We get $ 600 = $ 600
Net Loss = $ 11,688 in the hole.
So where am I getting more money ?
March 27th, 2008 at 3:57 pmI think they are going to be very surprised. Most people I know are going to use this check to pay off bills or to save. I am paying off medical bills I incurred because Blue Cross refused to give me any medical benefits for the first six months I was on my company policy because of a “pre-existing condition”. I receive no treatment for this condition other than medication. Blue Cross made out like bandits by getting six months of premiums for no services rendered and I incurred over $500 in unpaid medical expenses. So, I don’t see where my $600 is going to help the economy much.
March 27th, 2008 at 4:06 pmI guess the White House has made the move to Fantasyland… Sad.
March 27th, 2008 at 4:06 pmhellinabucket Says:
March 27th, 2008 at 2:47 pm
Where is this money coming from? and how does this reflect well on the fiscally responsible repubblicans?
First, it cost the government $47,000,000 to send us that postcard explaining the check that will be coming. I didn’t understand a word they said on the post card and I suspect most people had the same problem. So, why did they have to spend 47 million dollars to tell us we have a check coming?
March 27th, 2008 at 4:08 pmyou trollies are too cute. it’s like hearing the funny things my Daughter’s 9 and 10 year old friends make up when they’re playing make-believe games.
keep it up, fellas. it’s like getting to laugh at the mishaps of handicapped people, but without any guilt.
priceless, i tell ya.
March 27th, 2008 at 4:21 pmI think Al Sharpton said that this rebate is nothing more than a gift card to be used at WalMart, and most of the stuff you find at WalMart is made in China.
So whose economy is this going to benefit?
I whould have been better to put this money into rebuilding the US infrastructure. It would have created jobs, put more money into the economy, and fixed a few bridges and levees.
March 27th, 2008 at 4:26 pm45 - so that’ll make what, 60-70 dollars’ difference?
big woop.
i’m spending mine on a 2-day bender to try to forget how much all this sh!t pisses me off.
March 27th, 2008 at 4:30 pmThose who answered “not eligible” were undoubtedly underrepresented in the poll. And yet giving to the poorest of the poor is more likely to stimulate the economy since they are more likely to spend it locally (however, what Art said).
And $600 might be just enough of a boost for a homeless person to get his shit together.
March 27th, 2008 at 4:38 pm” (g) Advance Refunds and Credits-
`(1) IN GENERAL- Each individual who was an eligible individual for such individual’s first taxable year beginning in 2007 shall be treated as having made a payment against the tax imposed by chapter 1 for such first taxable year in an amount equal to the advance refund amount for such taxable year.
`(2) ADVANCE REFUND AMOUNT- For purposes of paragraph (1), the advance refund amount is the amount that would have been allowed as a credit under this section for such first taxable year if this section (other than subsection (f) and this subsection) had applied to such taxable year.
`(3) TIMING OF PAYMENTS- The Secretary shall, subject to the provisions of this title, refund or credit any overpayment attributable to this section as rapidly as possible. No refund or credit shall be made or allowed under this subsection after December 31, 2008.”.
Its an advance of your tax refund Southern Man and if you owe taxes you will be paying it back [+advance] and if your getting a refund it will be less [-advance] No, you will not file on it because its an advance.
March 27th, 2008 at 4:38 pmAnd $600 might be just enough of a boost for a homeless person to get his shit together. -Squeaky Wheel
Only if he paid taxes..which I doubt is the case for many homeless people, unless you donate your advance to them.
March 27th, 2008 at 4:40 pm48 - in mexico, maybe. it’s less than 2 dollars a day over the course of a year. did they not cover basic math in your g.e.d. program?
it’s a transparent bribe, and only the most intellectually handicapped people alive would believe otherwise for so much as a second.
those checks should be run through shredders, and sent back to the White House marked “postage due”.
March 27th, 2008 at 4:47 pmReagonomics never did work…and the current administration has been an even larger failure. Why would anyone believe Dubya? Has he ever been right about anything? Has Dubya ever lied to you?
March 27th, 2008 at 4:48 pmS&M Man is right for once in that nobody will report this year’s rebate on next year’s tax return. The problem is the rebate is just more borrowed money (i.e. funded by Treasuries sold to the Chinese et al.) designed to induce debt-laden taxpayers to buy more crap they can’t afford and which is probably made in China anyway. In short, this idea screws the budget deficit whether people spend or save their rebates. It widens the trade deficit if people spend it. The only thing this stupid plan is calculated to do is to bribe voters into voting Republican. I for one don’t see it working this time.
March 27th, 2008 at 4:48 pmcaption contest:
Hey fella, I cain’t pee if someone’s watchin me…
March 27th, 2008 at 4:51 pmBush is having so much fun laughing at how Americans just wait for their hand out as he tells them what to do.
March 27th, 2008 at 5:01 pmHe forgot to tell the American People that the Pentagon gave a 22 year old non experienced man 300 million dollar contract for guns for Afghanistan. I know this will not be reported with the Social Security money spent. Oh by the way the 300 millions is gone and Afghanistan got nothing. No worries for those Americans who really care what’s going on. Waxman is having a hearing on this this happen and who signed the contract. Just think we’re in a 10 Trillion dollar debt and the only thing Americans are looking for is a hand out.
Look up delusional in the dictionary and there will be old Uncurious George.
March 27th, 2008 at 5:01 pmJust more deferred tax increases. Someone, someday IS going to have to pay all these loans that BushCo has been taking from the Chinese.
And yes, I’ll be sending my “rebate” check to Visa.
March 27th, 2008 at 5:04 pmDon’t forget, this $600 is also going to help offset the loss of wealth if the value of your house has gone down. No really.
Bush said so.
The clip is worth watching all the way to the end to see the Jum Cramer stuff. Classic (and sad).
March 27th, 2008 at 5:06 pmCelestial angles are congruent or is that adjacent angles?
March 27th, 2008 at 5:12 pmNow I am sure senility has set in. He is delusional.
March 27th, 2008 at 5:12 pmI am sending my check to the local food bank.
March 27th, 2008 at 5:13 pmSouthern Man Says:
March 27th, 2008 at 4:25 pm
Ms_Joanne Says:
March 27th, 2008 at 3:00 pm
I hope everyone saves their “rebate” checks, for they are going to be taxed on your next return.
This isn’t free money…it’s basically a loan
I just got off the phone with my accountant and asked him if this rebate check will count against next years taxes, and was advised it would not. You will never file this on any return.
It’s considered income. Get a new accountant. Moron.
March 27th, 2008 at 5:14 pmThis tactic of buying republican votes is merely plugging the hole in the dyke … to patch it for now so the big explosion does not hit in Bush’s term.
March 27th, 2008 at 5:19 pmI misspoke about it being income. It is a pre refund which will reduce the next refund. So while it is not technically income, it will affect your next refund.
Some info on that rebate:
http://finance.yahoo.com/ taxes/ article/ 104417/ Tax-Rebate-Winners-and-Losers#7
http://taxes.about.com/ od/ 2008taxes/ p/ stimulus_rebate.htm
http://www.newsbusters.org/ blogs/ noel-sheppard/ 2008/ 02/ 08/ cnn-deletes-line-about-tax-rebates-being-advance
March 27th, 2008 at 5:20 pmprogressinourminds Says:
March 27th, 2008 at 4:54 pm
If only Obama was handing out this money. Celestial Angles would be singing and it would be the best idea man had ever devised. I’ve never in my life heard of people whining and complaining about getting money!! Really shows what kind of people the pro’s are! .
You are obviously missing the point (no surprise). Our complaint is that this drop in the bucket will do NOTHING to help this economy regain equalibrium. We’ve talked about using the money to create programs resulting in job creation instead, for instance. It’s the difference between giving a man a fish and teaching him to fish.
March 27th, 2008 at 5:29 pmimpeachcheneythenbush Says:
March 27th, 2008 at 5:29 pm
You are obviously missing the point (no surprise). Our complaint is that this drop in the bucket will do NOTHING to help this economy regain equalibrium.
You’re giving the illiterate troll too much credit to think that it is merely missing the point.
See, this is the way those guys operate: anything our side does is great, anything the other side does sucks. So they assume we would react the same way.
March 27th, 2008 at 5:37 pmThe MBA (Morons Being Asshowls) prezidunce
March 27th, 2008 at 5:41 pmI’m holding out for the same deal BearlySterns got.
March 27th, 2008 at 5:43 pmThe Consumer Electronics lobby did a poll last month with similar results.
-AF
Andrew Sullivan Is A Fraud
March 27th, 2008 at 5:56 pmGood luck with that, RUC.
March 27th, 2008 at 6:01 pmMost of the Ms’s I know are way hotter than the Mrs’s I know. Smarter too
March 27th, 2008 at 6:05 pmHow does that work again?? We increase our national debt by basicly borrowing more money to pay ourselves and the hoping we’ll get some sort of short term gain in the economy,,if we’re lucky. Oh, boy isn’t that great. This solves nothing and adds national debt.
March 27th, 2008 at 6:11 pmTwo factually incorrect posts so far. You’re on a roll–keep going.
March 27th, 2008 at 6:16 pmprogressinourminds Says:
March 27th, 2008 at 4:13 pm
Bilbo Hussein Baggins Says:
March 27th, 2008 at 4:06 pm
Quit Whining! In other country’s you would’ve had to waited almost a year to get the treatment. Damn Leach!!
Should have been posted preceding #76
March 27th, 2008 at 6:18 pmSouthern Man Says:
March 27th, 2008 at 4:25 pm
Ms_Joanne Says:
March 27th, 2008 at 3:00 pm
I hope everyone saves their “rebate” checks, for they are going to be taxed on your next return.
This isn’t free money…it’s basically a loan
I just got off the phone with my accountant and asked him if this rebate check will count against next years taxes, and was advised it would not. You will never file this on any return.
Your accountant is dead wrong. Bet he went to college in the South, huh? Or is he a correspondence school grad?
March 27th, 2008 at 6:20 pmprogressinourminds Says:
March 27th, 2008 at 4:54 pm
If only Obama was handing out this money. Celestial Angles would be singing and it would be the best idea man had ever devised. I’ve never in my life heard of people whining and complaining about getting money!! Really shows what kind of people the pro’s are! .
Obama won’t have to hand out any money. We’ll all make plenty in a Democratic economy, just as we did in the last Democratic Administration. Maybe Shrub and McShrub can both take some basic economics courses while Obama cleans up the mess that Shrub has made of the booming economy that he inherited.
March 27th, 2008 at 6:27 pmdbadass Says:
March 27th, 2008 at 5:12 pm
Celestial angles are congruent or is that adjacent angles?
I believe if anything they are obtuse. Or is that the person who posted the comment? I’m so confused.
March 27th, 2008 at 6:37 pmprogressinourminds Says:
March 27th, 2008 at 4:54 pm
If only Obama was handing out this money.
If a Democratic administration suggested a rebate the MSM would be screaming; “Redistribution of wealth blah, blah, socialism, blah, communism”.
And the Republicriminals would shut down the government rather than let it happen.
March 27th, 2008 at 6:50 pmwoodguy Says:
March 27th, 2008 at 6:20 pm
Your accountant is dead wrong. Bet he went to college in the South, huh? Or is he a correspondence school grad?
This comment doesn’t make any sense.
March 27th, 2008 at 7:02 pmThe accountant is wrong. He is not very well versed in his area of expertise. He is mistaken. His advice is unreliable.
He probably went to an academically inferior school. Perhaps he didn’t go to a real school at all, but got his diploma in the mail. McWars Says:
March 27th, 2008 at 7:02 pm
woodguy Says:
March 27th, 2008 at 6:20 pm
Your accountant is dead wrong. Bet he went to college in the South, huh? Or is he a correspondence school grad?
This comment doesn’t make any sense.
March 27th, 2008 at 7:09 pmAbout the discussion on whether the $ 600 will or will not be on next year’s taxes.
Even if you don’t loose it in next year’s taxes, the govt has to make up that money somewhere. So do you pay it now, or do you pay down the national debt later ?
Of course, what is $600 in comparison to the trillions for the invasion and occupation of Iraq ?
March 27th, 2008 at 7:13 pmThese clowns in the administration are so freaking stupid.
STOP the war idiots - that will help boost the economy.
Our focus would get back to creating jobs AT HOME and offering career opportunities for the albe and willing.
As things are right now, OUR money in the federal government is being stolen every day by war profiteers.
That’s the welfare that is bringing down our economy. CORPORATE WELFARE.
Corporations get tax breaks and government contracts without having to try whey WE THE PEOPLE get what?
Oh yeah $600 max.
FREAKING unbelievable!
These bastard will get their Karma.
March 27th, 2008 at 7:35 pmLast year we paid some $428 BILLION in interest on the national debt (#3 item in the Federal budget?). Yet we are all supposed to relax, the annual deficits are only 3-4% of the national GDP. Yeah right.
The rebates only add to the debt and interest and the overall Federal budget gets squeezed more and more….thanks to the so-called “MBA President.” But then that’s what they ultimately want…to squeeze govt. until it’d down to the size that it can be “drowned in a bathtub” (Grover Norquist).
Interest payments: http://www.treasurydirect.gov/ govt/ reports/ ir/ ir_expense.htm
It’s up to almost $200 BILLION in the first 5 months of 2008.
March 28th, 2008 at 1:57 amYou’ve heard, “Bear Stearns Cayne Sells Stake for $61.3 Million Ahead of JPMorgan Deal”.
Why not wait for him to spend his money?
Bush can take the bail out money and send that money (which is ours as well) and give it to us instead of the bail out.
Come on Bush, its our money and you want us to have it. \
Then let “your” family bail out the Bear…………….!
March 28th, 2008 at 2:17 am.
What George W. Bush meant was:
“Now,… close your eyes and click your heals and say three times…
‘There’s no place like home…’”
.
March 28th, 2008 at 5:50 amGeorge The Dim Bulb just burned out. Does he even know which planet he’s on?
March 28th, 2008 at 11:39 amLook’s like another freaky Friday to me…..I got a give away fun package from the IRS last week…It had a letter telling me to file if I wanted to get the goodie check, 2 copies of the 1040 A and a return envelope….Interesting indeed since I haven’t had any taxable income in several year’s and haven’t filed in all that time….
My neighbor called me 2 week’s ago, he is in the same situation I am, poor but getting by alright.He didn’t know how to get his check and I told him he would have to file…He ran out and got the form’s and filed that day…I told him it was adding to the debt and I wasent going to go for it…He’s planning a trip back east and want’s the money for gas….I told him I’m not going anywhere and will do just fine with out the cash….
It’s none of my business or major concern what other’s do with this check, most people need far more than the amount being sent….Personely I think our country would of been better served with rebuilding our infrastructure, school’s, housing the homeless, employment benefit extensions and creating job’s but that’s just me….I’m not buying this crap and I have a choice to not comply to filling out a dummy return for money I can get along with out and not add to our massive debt…My shredder is gonna love chewing up this paper work and my bank account will stay the same…….Blessings
March 28th, 2008 at 12:37 pmWorst. President. Ever.
March 28th, 2008 at 9:34 pmMake it stronger my ass.
Three news events just this week in our town:
- A local brick plant is laying off a majority of its employees due to lack of business because of the crappy economy.
- A local restaurant is closing its doors after 40 years, in part due to high gas prices.
- Our local electricity provider is petitioning the state for permission to raise electricity rates by 20%, mostly due to high prices for coal, which has almost doubled in a year to now over $100 per ton. In an effort to make customers feel good, they point out that their rates are still lower (even after the rate hike) than other electricity providers in the area. Part of the blame goes to “high demand in China.” OK, so we are told that we are sitting on more coal reserves in the U.S. than oil reserves worldwide and that coal is the fuel of the future. And they tell us that drilling oil in the ANWR will lower oil/gas prices in America? Bulls*it. If that is the case, then the coal companies would be selling coal to the electric companies at a lower price than what the coal prices are on the world market. Right? But this is not the case.
March 28th, 2008 at 11:45 pm