What's Your Opinion?

What has the Stimulus package done for you?

How can we get out of such a mess if we don’t change our way of thinking?

If the first Stimulus package didn’t help, what makes you think a second Stimulus package will.

The stimulus package has not done much to solve the negative equity problems that the country is facing, and the markets have reacted with uncertainty as a result. Many homeowners were hoping an across-the-board interest rate decrease would be worked into the stimulus package and were disappointed to get no relief in this area.

The Obama administration doesn’t seem to realize that the Stimulus check is not what folks wanted and did little to curb this situation. It would have been making progress in the right direction to have a flat across-the-board interest rate that actually saves money. The next step for the administration should be to create a plan to help stem foreclosures, repossessions and bankruptcies before they happen.

The main intension of the administration should be helping people get rid of the heavy installment amounts paid out each month. Once the monthly expenditure comes down, people will have a surplus amount, which they can use to spend in other sectors.

If the monthly expenses of laymen get reduced they will start taking interest in luxuries and avail other facilities too. Some must have been planning to finish their basement or renovate their house for a long time but could not do so because of the repayment load. Now they will pay attention to these things, which will give employment to plumbers and construction companies who will get contracts, hence lower income people will also get jobs. Apart from all this, people will visit restaurants, plan for weekend outings, go shopping and do so many things that they have been waiting for, but couldn’t afford.

One way to control this economic crisis is to reset the interest rate to a flat 3%. The proposed 3% interest rate is not the solution, just an alternative to the massive Stimulus package. This will guarantee to put extra dollars in the every consumer’s pocket every month and best of all, it will create jobs, and it won’t cost anything.

Can you imagine cutting your mortgage payment by about 35%, your car payment by 40%, your other loans by 50%. This is not a one-time deal, you’ll save money each and every month.

If your only option is retirement, Social Security and Medicare, well, better think again. Did you know that some 80M baby boomers are expected to retire in the next two decades? The Government warns that both Medicare and Social Security will be depleted by 2017. There's a Health Care debate in Congress right now. The only problem with it is, how do we (taxpayer) pay over one trillion in a ten year time frame? Most major companies will jump on this so they can cut costs by not paying any employee Health Insurance.

We got some interesting news concerning Medicare, read this. As for Social Security, check this out for any one thinking about retiring.

So what has the stimulus package done for you? You still have the same loans to pay, the same everyday expenditures, like mortgage, car payments, credit card, food bills, electric bills, gas bills, clothing bills and every other type of bill. Sure you got your one time Stimulus check ($250 single or $500 married) but you still have all the other bills to pay. Doesn’t cut it, does it?

The proposed 3% interest rate will not increase the $789 billion economic stimulus package, it will not cost the government any thing and best of all, it will not create a tax burden on the taxpayer and further taxpayers. Sure the banks will lobby against it, but aren’t the banks responsible for most of this financial crisis, besides they took some $168B in bail out money, and were never monitored.. By the way, did you notice that some of the major banks are raising the interest rate on credit cards?

Hey, you can help. Write your Congress Representative and tell them you don't like the "Change you can believe in". If we continue this lunacy, where will our children, grand children, great grand children be in thirty, forty or fifty years from now.

What do you think; we want to hear your opinion, your comment, just say something. Make sure that you have your cell phone or iphone with you at all times. Never know when you’ll need it.

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