Remember Bill Clinton’s 1992 presidential campaign slogan? “It’s the economy, stupid.”
What with big investment banks like Bear Stearns collapsing (with the Federal Reserve having the step in as some sort of White Knight), inflation making everything durn near expensive, household debt increasing, and the US dollar de facto collapsing, I don’t think it takes a soothsayer to predict what folks will do with those stimulus package checks that the IRS will start handing out come May 2.
And it isn’t what the Bush administration is hoping for — going out and shopping like mad.
On a side note: Funny that those checks will come out *after* April 15, i.e., the federal income tax filing deadline. After filing the household taxes earlier this month — online TurboTax, yay — the Hubby’s and my tax payment (even with Daniel as a big deduction) will be about $300 more than than the allotted stimulus package check coming in.
I can’t help but think, “Sneaky IRS!”
But anyways — Bush the Elder lost to Clinton because, essentially, voters decided to let a Democrat try to do what a Republican couldn’t. What with Bush endorsing McCain — an act that may just hurt McCain come the November general election, what with Bush’s popularity rating in the toilet — McCain is smart enough to know that 1992 just may repeat itself.
Right now, all we voters can do is watch and wait…