It's been a week chock full of financial news. It's all about "economic stimulus" this week. Fed rate cuts, bailouts for bond insurers, and now a tax rebate. Too bad all this economic stimulus probably won't be much help in the long run. While free money is always fun, we tried this a few years ago (Bush was still president) and it didn't help in the long term. Obviously. The economy is right back where it was. And none of this "economic stimulus" is likely to help you get mortgage financing. Unless you use your tax rebate to pay down debt. Or put it toward a down payment. Besides, how is the government going to pay for this? By borrowing more money?
What will you spend your tax rebate on?
Yup, you're right Miranda - these quick fixes typically don't work well in the long run.
Posted by: Easton Ellsworth | January 25, 2008 11:21 AM | Permalink to Comment