Thursday, January 17, 2008

Politicourtney

Just when you thought the mortgage "relief" plan couldn't get any dumber...Bush capped the amount of mortgage debt that can be forgiven tax-free at...wait for it...TWO MILLION DOLLARS.

What the heck???

A sign of the partisan games politicians play: I heard on the radio last night that Gov. O'Malley released his Maryland budget plan. When he described it, he talked about providing for safe neighborhoods, good schools, etc. while still coming in under the recommended spending increase for the year. The Republican response was "Well, we haven't had a chance to read it yet, but Gov. O'Malley could have done a better job about cutting spending." Moran.

I heard that a tax rebate could be coming soon in the economic stimulus package that's supposed to be announced tomorrow. The thing I think is sad is they said it would primarily be directed to lower and middle income families (I'm not sure if we're a middle income family or not) "who are most likely to go out and invest those dollars in a cash register." Given that we as a country have a negative savings rate and record amounts of debt...ugh. I'm not one to turn down "free" money though. Quotes because "Bush does not believe a stimulus should be offset — or paid for — by any tax or spending changes elsewhere." Must be nice to be able to make up money whenever you want it.

The DJIA is down 14% from its peak about 3 months ago. Not really worried about it. The Baby Boomers ruined social security and the housing market for Generation Y, so we'll gladly take cheaper stock prices at the expense of their 401K accounts. Hurrah for dollar-cost averaging. And no I won't get off your lawn either!

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