It seems like the Bailout will be a smorgasbord of added on stuff. Most of them actually sound pretty decent though.
The idea drawing the biggest support was to raise the federal deposit insurance limit, now $100,000 per account, to $250,000. Several officials, including presidential nominees John McCain and Barack Obama, endorsed the change.
That sounds like a pretty good idea because it puts quite a few Americans under the savings protection umbrella. Cramer has talked about raising this rate over and over and it seems like a good plan.
Other ideas include extending unemployment insurance benefits, typically a Democratic goal, but one that appeals to some Rust Belt Republicans. Another Democratic-backed idea would double the property tax deduction taken by people who do not itemize their taxes. And another calls for more spending on transportation infrastructure projects, which would create more jobs. Budget hawks in both parties might object, however.
Most of this stuff seems okay especially the unemployment insurance since the economy is slowing down and people are going to need it to buoy consumer spending. The property tax deduction sounds like a good idea as well since I may eventually qualify for that.
The infrastructure part I don't like since it will probably be a sop to unions and construction firms and other big Democratic contributors. I guess I could go along with it as long as the amount is kept fairly low.
No comments:
Post a Comment