Economic-Stimulus Package
Both the Federal Reserve and the U.S. Government are really pushing the economic-stimulus package to full throttle. You should now know that the IRS will be issuing economic-stimulus payment checks in an amount of $600 ($1,200 for married couples) if you meet a few of the requirements. Then there is the Federal Housing Administration raising the mortgage limits on certain counties of California. Another probably interest rate cut by the Federal Reserve according to the Federal Chairman. And several new programs to alleviate increasing home foreclosures.
2008 will be a busy year: the US Presidential Election, 2008 Summer Olympics, and the fluctuation of the US economy (can you say recession?). 2008 marks a new beginning with the new presidential inauguration of Lee Myung-bak. I believe that the country will go through a growth phase during his term that will generate new businesses in many parts of the country, especially outside the urban cities. President Lee’s vision for his country will significantly impact the livelihood of the citizens because of his vision to advance and succeed in the global market.
Now let’s go back to the “Economic-Stimulus Rebate” that millions of Americans are anxiously waiting for. The so called rebates is not really a generous rebate that the US Government decided to give to all taxpayers. The consequence of this generosity to increase economic boost short term is the further deficit of the nation by borrowing debt that our children will need to be responsible of. Meaning the $600/$1200 rebates are loans from our children to us in 2008.