Bing Blog

Stimulate me!

Cocker Spaniel

Experts seem relatively unified, if such a thing is possible, on the issue of direct economic stimulus to every taxpayer. They're against it. If all the various monies now being set aside were used, the check for each of us would come to nearly 10 grand, apparently. But the economists don't think it's a good idea.

The problem is that given all the bad news, past and future, most of us, it is feared, would simply do what the big banks have done with their bailouts: tuck them away for a rainier day. They were supposed to take their money and fork it over to people who wanted to borrow it. Ha! they said. We're keeping it warm and dry, except for the cash we're earmarked for bonuses. Smart bankers. They care about the economy. They know that if you give an executive hundreds of millions of dollars they will spend a bunch of it, and that will stimulate everybody.

Us smaller fry, it is thought, would take the $10,000 from Uncle Sam and put it in one of those teetering institutions, rather than putting it back into the economy where it is so desperately needed. As the Wall Street Journal pointed out yesterday, people aren't spending enough, inventories are rising, the system is going stagnant and we're all doomed. Or perhaps that was Sunday. It doesn't matter. The gist is clear. We're all very selfish and if we got a bailout of any kind we wouldn't be responsible citizens and spend it right away.

Well I, for one, would like to assure the government that, should I receive $10,000 as a part of the national recovery effort, I would spend every penny of it. Possible areas of expenditure include:

  • Blind auctions for certain educational and religious institutions
  • New shocks for old Volvo
  • Vacations (domestic)
  • Cost of maintaining elderly cocker spaniel
  • Expenses associated with under-compensated semi-adult children
  • Heat, electricity, gas, etc.
  • Grass-fed beef
  • Wine

This is of course just a cursory list. I'm sure I could generate a whole bunch more if I really thought about it. Just sitting here I'm probably spending money on something I don't even know about. In fact, 10 grand might not do it. Give me 20 and I'll really show 'em something.

How about you. Are you willing to take the pledge? Write your Congressman. Tell him or her that you are committed to spending whatever they give us. If all of us come together in one giant shout, perhaps we'll get the job done to the benefit of us all.  Have you seen the price of dinner and movie these days?

43 Comments Add Comment

We all know that even if they did this, it would only stimulate the economy till we needed another $10,000 infusion since it's just a facade...but hey, i'd be down for $10,000 every 3 months..could get a new Mac, buy some new clothes, new LCD TV, etc while saving my hard earned money like I always have.

I am not sure if it is ironic, amusing, or just really irritating to think that the same people who for years and years are have said that Americans don't save enough are now telling us that we aren't spending enough so they are going to take our money and give it away.

Here is the new plan I am proposing: How about you guys go save the economy with your money and I will save whatever my government lets me keep. I am not going to live like a pauper but the vacation and the new walkway can wait until next year.

In the meantime, I am going to
1. Refinance into one of those good loans.
2. Go out to dinner once in awhile but less often than we used to.
3. Take some cheap, local trips to see things in a couple of state radius instead of hitting the beach like last year.
4. Double down on the Section 529 IRA's for the kids and the retirement plan for me and the misses so when Wall Street turns around in 5 to 10 years, I look like Einstein

I think it will be useless if they hand out ONE CHECK only for a few hundred dollars to everyone, that is going to stimulate nothing,,,,now, if payroll taxes are reduced (FICO, FICA whatever initials), mortgage interests are reduced also, credit card interests are also reduced, that will guarantee an extra few hundred bucks PER PAYCHECK to all of us, mere mortals,,, that is change I can believe in. Under those circumstances I promise I will spend it on a new american 4x4 pick up truck, new set of american PING golf clubs, a new american Harley motorcycle, increase my children allowance so they can go to the american mall every weekend and spend it on useless stuff, Angus american steaks, lots of american made beer, and lots of american made ice cream and american made apple pie. Now, if I only get ONE lousy check for a few couple of lousy hundred bucks, I promise you I will go to Mexico (more bang for your lousy bucks) and party like if is 1999,,,oh yes, If this thing is going to break anyways, let's have some serious fun before the end comes.

Deer Congmessman,

I have yur economie. If you ever want too see it aliv agin, send me $10,000 in unmarked dirty sweaty bills. Crumple each one up in a ball and put em all in a bag.

I give you 1 day to get it together. I let you know where to put it.

Yurs trooly,


Robert! Nice to see you back!

Here's my list, Bing.

1) Purchase a collection of delicious single malt scotches and small batch bourbons.

2) Take the wife out for a fancy dinner every weekend for a couple of months.

3) Buy a flat screen TV.

4) Purchase a 10% stake in General Motors.

5) Pay $30 per movie for my wife and I to sit in an incredibly fancy movie theater with the most comfortable leather seats known to man. They let you drink alcohol during the movie. It's phenomenal.

First third: contribute to the "Free Jeff Skilling" fund.

Middle third: launch an airline because you end up with about $7,000.00 anyway.

Final third: donate to re-establish the tan M&M. Since the blue replaced it, the happenings have been somewhat Karmic.

If they REALLY want to "stimulate" the national economy, eliminate the income tax. NOW!!!

I would actually have to agree with the experts. I would put the 10k right into my car loan. Although, if they do decide to stimulate the economy like that, it should be given out according to what the particular person put into the system. Anyone who didn't pay taxes last year should get nothing, and it should phase in, much like deductions phase out for people earning over a certain amount. Therein lies the problem. While this would be the fair method, it would hardly stimulate the economy in the way we think it should.

I say stimulate the economy in tax breaks that hit everyone, which means business tax breaks. Let's make it less expensive for our companies to do business in this country.

Hell on the economy! Stimulate this, baby!

They could simply put the money on a debit card for each of us. Guaranteed to be spent, or lost...

You know those Debit Cards would be prime targets for mail thieves, even armed robbers and street thugs.

As for the getting money, this isn't that hard to figure out...CUT THE TAXES on people's paychecks and Business FICA. You get more money to people immediately and give businesses a break.

Unfortunately, we had the 8 past years of a 'facade' economy...everything that was created during that time was really a 'facade' of the housing market and paper wealth. We are re-adjusting to where we are going to be for a long while.

I would put the money towards all my debt. Boy, that would reduce it minus the student loans. That way there is more money in the long run to spend in the economy. That makes more sense for the long run.

I think it would also help the economy that they fix the credit card industry to be more friendly towards Americans paying off debt and not get ripped off. Waiting until 2010 for some of the changes is way too late.

Perhaps, they should stop relying so heavily on FICO and credit reports since those are not usually accurate. The housing market should of been the clue that the Credit Report isn't always the best idea.

Wine? Does that mean you're drinking again?

Lots of good ideas out there, unfortunately we can not trust our "leaders" to listen, come up with new innovative ideas, or improve what we got already, are we Americans lowering the standards or what? our new Secy of Treasury did not pay taxes and he got the job anyways, Dashle another tax evader and he is a congressman, c'mon!!!! and we say that is not a problem, one thing does not has a thing to do with the other, even Siren Boy smoked dope and we are forgiving him,, is not that lowering the standards for our leaders, our children's role models? I have blue collar workers who owe far less than Dashle and Gaither to the IRS and they are immediately found and IRS immediately puts garnishments on their poor salary,,,,,is this fair?, how come IRS missed this and they do not miss when our poor workers "cheat" the IRS by a couple $100 bucks? how come these politicians are not specially monitored by the IRS? how come we select tax evaders to lead us out of this debacle? how can you offer a job to a criminal?

A good argument for tax cuts as the most effective form of economic "stimulus."

I would promise to spend whatever stimulus I get buying American Made stuff but I can think of anything worth buying that is American Made.

Wine? When did you go back to drinking? I thought you gave it up?

... I'd spend $10k on renovations to my house.

Wine? Did I miss something? Off the wagon, Bing? ... I wouldn't blame you.

In answer to all of you who have noticed my reference to the noble grape... Yes. I AM drinking again. I was sober for three months. And now, in spite of the fact that I have started enjoying a spirited beverage now and again, I am even more sober than I was then. Don't worry. I'll be on the wagon again sometime. I like to try it now and then, just to show I can do it.

"William Zenzinger killed poor Hattie Carrol...with a cane that he twirled 'round his diamond-ringed fingers"

I can spend anything the MAN gives me, although I'll probably just end up paying for things I already purchased on I struggle to see the real stimulus...

Bing, God Bless, the grape is works for you, you don't work for it...

Happy Tuesday...

I'd spend it just like I do every dollar I get now...on beer, women, motorcycles, and guns...the rest I just waste.

And Isaac, I hate to tell you this, but most of a Harley Davidson motorcycle is made in Asia. That's the good parts, the rest is made in Milwaukee.

There is only one way out of this mess.

A complete elimination of income tax for a two year period.

That would put the money directly in the hands of the people who need it, give them a chance to pay off their bills etc.

At this time I would not worry about inflation, cause every other country in the world is printing money to put in the hands of their people....the net effect of it all is Relative currency stability...

Our problem is employment and money in the hands of the people...

Giveing money to banks/top of the food chain is counter productive...we need lots of little fat fish,,,,the banks will feed off them as per usual...

Just another thought from Hammond after he has had a few shots of crown royal....

Save the talk and hand me the cash.

The only way to solve economic problems is to stop listening to economists, businessmen, and politicians. They didn't know how to prevent these problems, and they certainly do not know how to fix them.

Anybody listening to anyone besides themselves deserves to be broke.

did anyone consider doing nothing? what happened to 'let the strong (companies) survive'? the more we build up the deck of cards the easier it falls back down.

and what will $600 do for you and I? a ton of people who actually need this stimulus need it to keep paying their bills. why would they take their 'stimulation' and go buy a car or washer & dryer or renovate their house. that's because the overpaid, out of touch, career policiticians don't know what it's like to live in the real world (i.e. pay taxes etc.) and think their stimuluis should be spent on non-essential items to help prop up the economy. the idiocy in washington, both democrat & republican, continues.....

I agree the American people are too irresponsible to spend the money. That's why we need the Government to do it. Even under Bushie the Government couldn't keep a nickel in it's pocket. So let's leave it to the pros and keep the amateurs out of this. Tax cuts lead to savings and debt reduction which will ruin us and doom our children. We need people who know how to spend to stimulate this economy. So let's listen to the Republicans who led us from budget surpluses to the largest deficits in history in only four short years. They surely will show us how to spend like drunken sailors in Shanghai.

The modern day world just seems to thrive on stimulation; it gets old after a while. financial stimulation seems to be no more than a dildo: enjoy temporary relief; then default back into deeper despair.

Seems nobody sees the REAL irony in all this. By giving billions of dollars to mega-corps the money is disappearing from MY POCKET! How about we put a temporary hold on all income tax and the government lives on the (soon to be) trillion dollars they are giving away for the next two or so years? That would put hundreds if not thousands of dollars in our pockets every pay check and I bet most of us would spend it quickly!

Don't forget ten k from the government will be accompanied with enough paperwork to make you earn it.

There will be an enormous list of restrictions and obligations.

For example, you will not qualify if you own a private jet, have lost a billion dollars in the past year and can't find it, have received more than two million dollars in corporate bonuses (boni?) in 2008, have received a prior government bailout exceeding 37 billion, or are confined to your New York apartment until your Ponzi scheme aftermath fades away.

And even if after all that you still qualify you will be subject to fines and possible jail time if you do not submit receipts substantiating you've spend it all within six months.

My observation is that men congregate around shopping center fountains for a snooze while the ladies do the shopping. So if it's going to happen, the government better make the checks payable to the wives.

I'm with Insert Name Here, but I wouldn't limit it to companies. Those who need a "stimulus" to get off their butts and do real work don't deserve to survive. Starvation is stimulus. Bankruptcy is stimulus. A desire to feed, cloth and protect ones children is stimulus. If you need more stimulus than that, then you're dead already and no amount of shock therapy will bring you back to life.

I just wrote to my congressman and then some. I think they need to give us the $10k in form of a debit card that way we do spend on the economy.

Pay down debt
A certain import from mexico
Canadian Whiskey

and new paint and canvases

Here is the sad truth about this "stimulus" thing:

1-There will not be any significant help for lower to middle income homeowners, people who are in the brink of losing their homes, or people who lost their home.
2-The stimulus bill will be horrendously full of pork barrel spending, I bet a good 80% of the money will go to pork spending, and we all now that pork only benefits the senators and a small cadre of cronies in their respective towns, senators sold their soul to the devil and once they are elected they have to pay the devil the cost of the "miracle".
2-No tax relief, same old same old.
3-If you belong to the group of people who makes over $200,000 a year, congrats!!! you will be saved, the more you make the more benefits and help you make.

The truth, and I'm not complaining, it is just a fact everywhere, middle class people is expendable, we are just the buffer between the rich and the poor, in good times that buffer increases, in bad times has to get lean, government nows and uses this, as well as the rich. So, do not hold your breath and expect much help, get up and be on the move.

"The future is uncertain and the end is always near" as my devoted revel of 70's used to sing. So, said that I would spend my $10k in a balmy afternoon at Santa Anita Park sourrended by two gracious companions (one blonde, the other brunette), sipping wine (preferably Opus One 1998). Oh! I almost forgot and I could even make some money if I hit the trifecta.

Hey Bing: Are you going to be affected by the salary cap thing????

I have never made over $52m in a year, Currently downsized and new job pays $28m. I have normally saved 25-50% in those wonderful plans and accumulated enough to retire 4 years ago. Still young enough to work I delayed moving into "safe" money. After last year's over 60% losses I feel like I've been robbed. I can't afford to retire, am unsure if I have time to recover, and government is bailing out those institutions that robbed me. Would I spend the money? Yes, it is not worth saving. I'm actually considering buying a new vehicle while I still have some savings left. It looks like tomorrow's dollars may be gone also.

All these people saying they promise they'll spend the money if given directly to them reminds me of sitting in traffic that clears inexplicably. I always think "if only somebody could coordinate with all drivers and tell them to ALL speed up at the same time, the traffic would have been alleviated." The problem is, people like having some following distance ahead of them so they can avoid an accident. That's what we've got here too. Everyone would save at least 20% from each time that money cycles through the economy for their own safety. As a result, you get about 20% more bang for your buck if you distribute through spending than through tax cuts because the states/cities/agencies will spend 100%. You won't.



Now why would a smart man like Hank Paulson go and name his plan TARP, Troubled Assets Relief Program. Now any one knows there can be no such thing as an asset that is suicidal or suffers from a adjustment disorder, even though we know many of the assets of the American are suffering from just such an episode. But words can be deceiving and TARP by its name sounds like you are trying to hide something, by covering over it with a tarp. So here I go out on a limb and propose a new name for the plan. I think we should call Mr. Paulson's plan "Financial Assets Reevaluation and Transfer System", here now, it explains everything. That the financial assets of the bank are being reevaluated and are being transfered to the government, and the acronym "FARTS" can be clearly understood by any lay person in the country. Atleast we Americans will know what we have got.

These stimulus packages merely transfer debt from the private sector to the government. How about creating something useful or economically productive? None of the smart guys thought about that? After all I think they are not that smart. Forget about money and think about what's behind it. You have to produce quality goods and services instead of consuming. The US will not outconsume itself from this recession.

Well, I truly believe that the experts are actually aloof. The bottom line is this: if I am in retail, I want my shop next to the 6 million poor people, not the 200,000 rich. Why? Well, I break this down easier for those who have never struggled financially can understand. You could be the most practiced financial wizard in the world, something happens once you have no money for a long time: as soon as you get money, you HAVE to spend it. It is an emotional relationship, not a logical one. You have to feel like your old self again. Anyone who has lived paycheck to paycheck knows this. When they first get a great paying job, they don't even put saving in the budget the first month, they have too many things to pay and buy! After about month 2, then they think about it! Sorry, I know if the government gave the money to people who don't have a lot, for instance, those on Social Security and fixed income, well, then we would already be in a surplus! The bottom line is this: look what is still doing fairly good. Weight loss products, cigarettes, cell phone companies, liquor, discount stores, I mean these industries tell you the story. Too many times the experts look at things from a book standpoint, instead of a more sociological standpoint. Study what is in front of you, not what some guy said in 1829! Unfortunately, that would be too much like right, so it will never happen. I just hope, one day, that method becomes more mainstream than it is currently.

Hi all,
I am real encourage with the mentation and don't search like adding anything in it. It is a perfect result.

Shawn wins the Idiot Spammer of the Day award. I particularly enjoy the fact that he spends some of his time in "Albama".

I appreciate the concern which is been rose. The things need to be sorted out because it is about the individual but it can be with everyone.
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