Yes, We Really Are Just Printing Money
May 5th, 2008 by Chris KinnanI can’t believe the Treasury Department just sent out this advisory.
Paulson to Visit Treasury Printing Facility in Kansas City Next Week to Observe Stimulus Checks Rolling off the Presses
Washington, DC–Treasury Secretary Henry M. Paulson, Jr. will tour a Treasury Department printing facility in Kansas City next Thursday to observe the first mass production printing and packaging of the 2008 stimulus checks. He will also deliver remarks on the economic stimulus at the Kansas City Central Library.
“By the end of June nearly 130 million stimulus payments should be in the hands of Americans, providing an immediate boost to the economy and helping to create more than 500,000 new jobs by the end of the year,” said Paulson.
The following events are open to the press:
Who Treasury Secretary Henry M. Paulson, Jr.
What Facility Tour
When Thursday, May 8, 8:00 a.m. CDT
Where Kansas City Regional Financial Center
4241 NE 34th Street
Kansas City, MO
The stimulus checks are 100% borrowed money (whatever happened to Democrats’ “pay-go” budget BTW?) …of course, they are financed by real claims from investors through Treasury bonds, but the way the Federal Reserve is debasing the dollar, the metaphor here is pretty remarkable.
May 8th, 2008 at 1:42 pm
Rebates - I am delighted to recieve mine as it will be used to pay for a small portion of my real estate taxes. Seems everything I own of value or earn is attached to paying into the tax base.
There is a lot of discussion every year about how to fix low income families. “Distribute more money to them to even out the thier personal defecit” - seems to be the common Government Cure Tactic.
The seed of poverty is undereducation in a society where technology is rapidly advancing to make products more efficient at a lower cost. Loss of jobs during this process results in less demand for products. Having three children when a couple can barely afford the food, clothing, supplies and childcare for one child is just stumps most of us. Is poverty truly just the lack of available jobs, or is it the lack of employable workers? Why not make college free for American Citizens? We have a shortage of nurses, engineers, glaziers, computer programers. How could it really harm us to have smarter people in this country? Better jobs, more money, better insurance coverage!
Maybe we should just print more money afterall.