Originally Posted by
Epoch
This is a terrible idea cause most of what general America would blow this money on is stuff made overseas, AND we're borrowing it! It's a short term bandaid on what's effectively a cancer on our economy, and our politicians are buying us off with our own money.
a.) Ben Bernanke disagrees
b.) The only way the money would fully leave the country is if you went over to the other country and bought it there. If you buy a foreign made product in the US, you're still supporting the wholesalers/distributers who got the products to America, marketed them, and sold them.
Stimulating market spending via tax cuts and federal fund rate decreases has been proven to help in the short term, which is what they're working on, so I fail to see a problem.
Calling the economy a "cancer" is being very dramatic, especially considering the prime source of most of the problems was due to very correctable market variables (subprime lending, real estate inflation).