If I Promise to Spend it, Will Obama Send Me Stimulus Money?

January 10, 2009 by  
Filed under Economics, Spending

Neither Obama nor Congress have any desire to send Mr. ToughMoneyLove any part of the gazillion dollar stimulus packages that are being discussed.  No tax cut, no tax credit, no check in the mail, nada, none.  No, the government wants me on the outside, looking in on the stimulus plan for two reasons: (1)  I make too much money;  and (2) I’m not broke.  (I probably should qualify “I’m not broke” by adding “yet.”  I’m afraid that after the government gets finished stimulating everyone but me, I will go broke through a combination of higher taxes and inflation destroying the value of the dollars we have stashed away in savings.)

When it come to stimulus packages, the government is looking at me (and others similarly situated) all wrong.  It is a knee-jerk implementation of the spoken concept that only broke people deserve help.  But the underlying theme is that the government wants people to spend to stimulate the economy.  The geniuses in Washington are quite disappointed that not enough people spent the billions in stimulus money they were given out last summer.  

In fact, the government should give its “stimulus” package a more accurate name.  I suggest the “If You Don’t Spend it, We Will” package.  That sure would scare me into spending.  Let’s see …me or the government ……  Tough choice.

The government surmises that broke people are the true spenders in our society so get them the stimulus money first.  There is some logic to this because most people are broke because they refuse to save.  (I am making a distinction between being “broke” and being “poor” or unemployed.) 

So can I get on the stimulus money gift list if I promise to spend what I receive?  Mrs. ToughMoneyLove and I know how to spend money.  Yes, we are savers and have a nice income but we do buy stuff.  I’m willing to buy more if the stuff is priced right.  (Sorry Ford, GM, and Chrysler.)  In fact, we probably spend a lot more money than many of the broke people.  It’s just that we spend a much lower percentage of our income than do the broke people.  Should we be penalized for that?  I think not. 

Let me suggest something else that the government is overlooking in excluding the savers from the stimulus booty.  If I have more money, I may spend it by purchasing stock in companies that are doing a good job with their business.  That rewards that company and generally drives the stock market upwards, helping millions of other investors and pensioners.  I get to retire sooner, opening up a job for someone else.  The Obama nation will be heroes.  Everybody wins.

I have complained in the past about spenders receiving favorable treatment from the government compared to the savers.  Would everyone who agrees with me please raise your hand?  (Did you actually raise your hand?  That’s kind of silly but thanks for playing along.)  Now really show your support by leaving a comment.

Image credit:  Billy Alexander


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Comments

4 Responses to “If I Promise to Spend it, Will Obama Send Me Stimulus Money?”
  1. headknocker says:

    The very fact that Washington thinks we can spend our way out of the current financial condition is the same as someone taking out a second mortgage to consolidate debt. They feel better, but unless they stop spending more than they make, they haven’t fixed the problem.

    Here’s an idea. Let’s find about 10-20 households that are doing a great job of budgeting and saving and ask them to come up to Washington and fix the countries budget. Oh, wait. That makes too much sense.

  2. Tough – This is sadly true. I couldn’t agree more. It is absolutely rewarding bad behavior. They may call it spreading the wealth or stirring the economy, but I call it rewarding bad behavior and screwing the rest of us. We are all paying for these bailouts and yet everyone has their hands out. Hello, do they realize what will happen is the taking of money from one pocket to put in the other. What ever happened to No Free Lunch!

  3. Well, I haven’t read the news reports carefully. Is this just a rerun of the $200 Bush tax refund?

    If so, I don’t get it. Two hundred buck refunds didn’t do much, no doubt because $200 will barely buy a week’s worth of groceries these days. So…why should $500 have any different effect? If most of us took the $200 and paid down debt or stashed it in savings, why wouldn’t we do the same with $500, especially since those of us who are still employed expect not to be, any time now?

    Please: Take my tax refund and donate it to the state or the city to keep our police officers, librarians, and teachers working. Or maybe fix one of those earthen dams upstream upstream from where I’m living, the ones that get ricketier as the days pass. Or fix a bridge so it won’t collapse while a bunch of commuters are driving over it. Argh!!!!

  4. MasterPo says:

    Funny how a few months ago everyone was biting their nails over a $1.2 trillion dollar deficit. Now Obama is promising us at least a $2 trillion deficit if not a $3 trillion one! And no one is concerned.

    We’ll pay it off later – right?

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