$146 Billion package passed by the house!

The stimulus plan of George bush has been passed and for the common man on the street this means tax rebates from $600-$1200. The stimulus package is one that had been designed in a hurry and the markets do not like it all that much. I have to say that I cannot blame in this; my personal opinion is that this stimulus package is too short sighted and it seems to serve more as a band aid to an all ready hemorraging economy than a cure for what ails it.

For one, it still does not address the huge problem of the credit crunch as well as that of the housing market, both of which are still intent on riding the economy far in to the doldrums. For one, had the administration envisioned a plan by which the housing rates were regulated and bought more pressure on the banks to increase their lending, that would have taken care of half of the problem. As it is, the housing market and the credit crisis barely got a mention in the 'state of the union' speech.

I think that we can all agree that George bush has some really good writers on his team and I am sure that they must have devoted whole sections of the state of the union speech to the current problems. I am betting that George bush forgot all about it and meandered on. Either way, the current stimulus plan is kind of like the 'Watergate' episode and they are still yet to learn that there is no point in closing the barn door long after the horses have escaped!