What the rebate checks did not fix…

I have never been into the news, but that has been changing in 2008. However, I am married to a news addict. Marcus reads the newspaper daily, watches CNN and Fox News religiously, and surfs the net for the latest news. I will get texts, calls, and voice mails throughout the day of the latest tragedy, stock drop, political action, etc. So, I decided to take a more active part in watching the news fthis year for two reasons: 1) the political action this year and 2)so I could compete with my husband on who got the information 1st!

If we just chop away at the last two weeks’ worth of news, it will make your head spin. It is full of the news about the economy as it is continues to soften and weaken. We are watching history in the making.  As I am watching the news, I have a lot of mixed emotions about our current world state, especially the economy. The government continues to cry “peace and safety” while moment by moment, banks are failing, jobs are dwindling, gas prices are soaring and companies are going under. To say the economy is bad is an understatement. In my opinion, it is scarily horrific!

The government tried rebate checks this past spring to help boost the economy. FAILED! Now, we have upped the ante to a $700 billion bailout plan that no one can agree on!!! In the meantime, Freddie Mac, Indy Mac, Lehman Brothers, AIG have all suffered these past few days. Earlier in the year, we have seen doom for Home Depot , Linens N’ Things, Bed Bath & Beyond, GM, AT & T, Bear Stearns to name a few. How much more will it be? Are we headed for another Great Depression? I do not want to be a fanatical pessimist. I want to be a realist that is observing the times. I look at it for what it is and it is scarily horrific. The rebate checks have not done their work of boosting the economy. Will $700 billion bail us out of this mess? I do not claim to be a whiz. But, can someone explain to me how you beat debt with debt? I do not clearly yet understand this package and how it will help us in the long-term. I guess I will keep watching to get some more news about it.

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