Monday, February 2, 2009

Economic Stimulus Package

I watch The Today show pretty regularly and this morning Matt Lauer's interview aired with President Obama. Its about 11 minutes long, they talk about a variety of issues, family, war, economy, football... (not very in depth, but enough to wet your appetite)

I don't claim to know a ton about what is included in this package or even have very solid opinions about what needs to happen. But, I'm sure some of you do!

One thing I think is cool is that Obama is taking questions to answer during a video airing on Saturday evening this week. Anyone can submit questions. Do you have one?

Submit your question here

Saturday, 7PM meetings

I am pretty confident that whatever the stimulus package is going to be, it is not going to "fix" our economy. There are some fundamental issues that need to be addressed (such as greed, power dynamics, pride, materialism)... I don't think the government can combat those... 

Do you have thoughts on what WE can do? and/or what the GOVT should do? 


george said...

What a mess. Irony abounds.

We (not quite sure who "we" are) have created an economy that depends (70%, I read) on consumer spending. Many consider this spending excessive and gratuitous, a fundamental misplacement of individual priorities.

Some have been bemoaning a low, sometimes negative, savings rate for years. Same for high rates of debt that power all this consumer spending.

Things get tough, people stop spending, some realize (finally?) they really don't need all that stuff they've been buying, saving rate is finally increasing, personal debt is finally declining. This could be a fundamental shift in behavior.

But wait, this is bad for an economy built on consumer spending and a downward spiral commences as lack of spending causes closures and layoffs which leads to more lack of spending.
(So Bush was right?? We should go shopping??)

So people talk about spending our way out of this (with massive, humongous, gargantuan government debt), but then once we're out of this mess we have to stop spending and start saving as a nation.

How is that going to work?

My head is spinning.

Wish I had answers.

traci said...

well put George.