Would this crisis prompt Congress to issue a 2nd Fiscal Stimulus Package?

adam007 · #1 (**permalink**) 10-10-2008, 01:40 PM

The business conditions have become so severe at my local stores that the store owner is considering laying off all his employees! Everytime I travel to the malls I see fewer and fewer shoppers buying things!

The situation is so serious I was wondering if anybody thinks the Congress and the President will consider a 2nd Stimulus Package! Hopefully, the American People will get a sizable bailout this time just like Wall Street!

I am looking for a $5,000 for each American Family, as this would only be fair considering the Crooks on Wall Street got $700Billion!!!!

This is would be the least the US Govt could do for the US taxpayers! This time the bailout should go DIRECTLY to THE US TAXPAYERS WHO PAY TAXES!!!

Anybody share my opinion on this!

TaxGuru · #2 (**permalink**) 10-12-2008, 11:31 AM

Congress and the next President will be seriously considering another coordinated fiscal tax stimulus backed by an easing in monetary policy.

Clearly, the G-7 along with the IMF fund and other world's emerging countries are attempting to revive the financial and banking sectors. The recession is affecting the whole world and will have devastating impact on the third world!

But, the UK alone has experienced a loss of 1mm jobs due to the recent financial debacle. So, I have no doubt that we will get some aggressive action within 6 weeks!

The Economist is fairly pessimistic of the world economy and absence any stimulus, the world recession is expected to be very severe.

I agree that there will be another Stimulus package and in fact Congress has already taken the step to discuss another stimulus package post the Election. We shall wait and see shortly what the nature of this package is and whether it is going be considerably greater than the previous package of $150Billion!

I suspect that this time the package will be considerably greater than the previous package of $150Billion and I see the target of this package to be mainly the middle class! These are the folks who are struggling today with their bills and mortgages etc.