How Stimulating

Badlands Blue keeps us updated on the press releases coming from Stephanie Herseth-Sandlin bragging about how the "stimulus package" will help South Dakotans. 

HERSETH SANDLIN SUPPORTS ECONOMIC STIMULUS PACKAGE

300,000 WORKING HOUSEHOLDS IN SOUTH DAKOTA WOULD RECEIVE REBATES -   PACKAGE PUTS MONEY BACK IN THE HANDS OF THE MIDDLE CLASS; PROVIDES TAX BREAKS FOR SMALL BUSINESSES

January 29, 2008, Washington, D.C. - Today, U.S. Rep. Stephanie Herseth Sandlin joined with an overwhelming bipartisan majority to pass an economic stimulus package designed to help prevent an economic downturn.  The package includes an average tax rebate of $1,000 for approximately 300,000 working households in South Dakota. Nationwide, this broad-based stimulus package will provide tax relief of up to $600 per individual and $1,200 per married couple, plus an additional $300 per child. Tax rebate checks could be sent as early as mid-May, pending Senate consideration and the President's signature.

Surely Rep. Herseth-Sandlin merely forgot to mention that this bill will also put future generations another $150 billion in debt while producing limited economic benefit.  Just a minor omission. 

Update: I see the Fed has dropped its interest rate by another half point.  I hope this has positive economic effect, but I am afraid the inflationary tendency will outweigh any pro-growth effect.