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Stimulus Package

Last year, the government paid $900 to a fair-sized chunk of the community.

The Federal Opposition seized on comments made by the International Monetary Fund's (IMF) chief economist that cash handouts were more likely to be saved than spent. Or at least to pay off their credit cards. Economists know how rational people spend their money.

So what did they do with the money? Click here for the answer.

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( 2 comments — Leave a comment )
entropy_house
24th May, 2009 15:55 (UTC)
It only makes sense. People look on it as a 'freebie' and don't treat it with the same respect as earned money.

I think it would have been a better stimulus to let each city/community vote on a local charity to get all the pooled money for their area.
morgan_dhu
24th May, 2009 20:17 (UTC)
Apparently, not many people are rational.

After going into debt to renovate the new house and make it handicapped-accessible for me, we have had to go further into debt to do things like waterproofing a leaky basement, put on a new roof, and (next week) do a retro-fit installation of insulation in the walls.

Any money that anyone gives me beyound what's needed for living expenses from here on in goes onto the debt until it's gone. Then it goes onto the mortgage.

I may have discretionary funds again in 20 years.
( 2 comments — Leave a comment )