The ridiculous thing about the “stimulus” package that President Bush and the Congress is proposing is that it we have to borrow to pay for it. The idea of an $800 tax rebate is being bandied about. But since we’re already in debt, that cash is going on Uncle Sam’s credit card, which is all but maxed paying for two wars and three rounds of Bush’s previous tax cuts.
On top of that, most people are probably going to use the money to pay down debts, which is hilarious because we’re all going into more collective debt to get the money. Borrowing from Peter to pay Paul, as they say.
Now, I agree with Atrios that the best use of the money would be to fund public infrastructure projects, which would have long term benefits — and also help the construction industry, which is being be hardest hit here.
But given that that’s not going to happen, the only moral thing to do is put the money in a college fund for your kids. After all, they’re going to be the ones paying for it.