Tax Rebates

Lets see, the economy appears to be slowing due to excess debt of consumers and companies, the housing and financial markets are hurting due to bad loans and the deficit is expected to be over $219B for this fiscal year. What to do?

Well spend another $150 billion in giving money to people to spend, spend, spend. Those who work but didn't pay any income taxes will get $300 while those who did pay income taxes but make under $75,000 if individual or $150,000 if married will receive up to $1,200. So Bill Gates or Britney Spears won't receive a rebate check. They also want to allow Fannie Mae and Freddy Mac to purchase mortgages up to $700K from the current limit of $417K, so even more loans will be guaranteed by you and me, John and Jane Q Taxpayer.

GWB will learn the hard way what GHWB learned back in 92, tax rebates won't and don't work and the Democrats won't take be nice to you either.