Economic Fix, sometimes simple ideas are best

[Jackpine]

Originally Posted by soutthpaw

You have a point, Didn't something similar happen with the first stimulus check. all the financial adviser folks said save or pay down debt. yet many people went and bought new LCD TV or Tuner Chips heh!

I know we used it to pay medical expenses

No, as I understood it, things didn't happen that way at all. People actually used it to help pay the bills or they put it into savings (excluding bbxcursion, of course) :ford boob girl smal :o

The HOPE, from our Administration, was that people WOULD go out and spend, on big ticket things like TVs and cars. But that didn't happen.

I DO kind of like southpaw's suggestion though, an across the board reduction in mortgage interest by 1% (down to 4% minimum) for mortgages in good standing makes a lot of sense. Of course, the banks would scream bloody murder, but they might just come out better, if fewer people defaulted on their loans and banks didn't have to foreclose on depressed properties. (They REALLY lose money when they have to "short-sell" a property and they lose even more when they take possession of it and can't sell it but have to pay taxes and other upkeep expenses).

- Jack