What is it that our current government doesn't understand? The common citizens across America NEED jobs! I know that U.S. citizens want to be self-sufficient. The common citizens happen to be the CONSUMERS EN MASSE! No jobs = no sales and no tax revenue! However, if our government is going to continue offering incentives to purchase this product and that product, why doesn't our government just cut every U.S. citizen with a valid social security number a check for $1 MILLION dollars and let us spend it the way we want and purchase the products and services we want. This will surely STIMULATE every area of our economy in a heart beat! Just think about it, our government is INTENT on spending the $787 Stimulus money anyway and all of us are going to be FORCED to pay for it anyway. It might as well be given to us to spend, right? There are a little over 307 MILLION U.S. citizens according to the U.S. Census Bureau.
Some of us may open new business' or use the money to save existing business'. Some of us may invest in innovative ideas. Some of us may pay off our debt which would help stop the hemorrhaging mortgage, credit card and student loan defaults. Some of us may purchase new homes which would help sellers and homebuilders. Some of us may renovate our homes which would help construction and home retailers. Some of us may take a long deserved vacation which would help the travel industry. Some of us may purchase new automobiles, motorcyles or scooters. Some of us may want to eat out every day which would save the ailing restaurant industry. Some of us may want to go on major shopping sprees which would help the ailing retailers. Some of us may want to make a major contribution to several non-profit organizations. Everybody will be able to pay for their health insurance, auto insurance and life insurance. You get the idea! We, the people of this great nation ARE the CONSUMERS EN MASSE and have a far better chance at stimulating our economy than our government! Our government is going to blow a TRILLION TAXPAYER DOLLARS anyway. This money is going to be added to the National Debt no matter what we have to say! Might as well hand this money over to the taxpaying citizens don't you think?! This would not only save our national economy but will also save the states from collapse!
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Yahoo News - Business Week
Latest in Stimulus: 'Cash for Refrigerators'
written by Matthew Boyle
Monday August 24, 8:08 am ET
A $300 million cash-for-clunkers-type federal program to boost sales of energy-efficient home appliances provides a glimmer of hope for beleaguered makers of washing machines and dishwashers, but it's probably not enough to lift companies such as Whirlpool (NYSE:WHR - News) and Electrolux out of the worst down cycle in the sector's history.
Beginning late this fall, the program authorizes rebates of $50 to $200 for purchases of high-efficiency household appliances. The money is part of the broader economic stimulus bill passed earlier this year. Program details will vary by state, and the Energy Dept. has set a deadline of Oct. 15 for states to file formal applications. The Energy Dept. expects the bulk of the $300 million to be awarded by the end of November. (Unlike the clunkers auto program, consumers won't have to trade in their old appliances.)
"These rebates will help families make the transition to more efficient appliances, making purchases that will directly stimulate the economy," Energy Secretary Steven Chu said in a statement announcing the plan. Only appliances covered by the Energy Star seal will qualify. In 2008, about 55% of newly produced major household appliances met those standards, which are set by the Energy Dept. and Environmental Protection Agency.
The money can't come soon enough for the home appliance industry, which is mired in an unprecedented sales slump that began when the housing market cooled in 2006. Since then that slump has worsened considerably. Shipments of washers, dryers, refrigerators, and ovens dropped 10% in 2008 and are down 15% through July, according to the Association of Home Appliance Manufacturers. "It's brutal," says Raymond James (NYSE:RJF - News) analyst Sam Darkatsh.
The leading appliance makers have felt the pinch. Whirlpool of Benton Harbor, Mich., which controls about 40% of the U.S. market, has seen its sales drop 20% through the first two quarters of this year. North American shipments for its Stockholm-based rival Electrolux, meanwhile, have dropped for a dozen consecutive quarters. Both companies have laid off hundreds of workers, and General Electric (NYSE:GE - News) mulled shutting down an entire refrigerator plant earlier this year until deciding to keep it open with a reduced workforce.
Not surprisingly, appliance makers cheered the news. Electrolux spokesman Tony Evans calls the federal program a "great opportunity to encourage consumers to replace their old appliances." Lately, cash-strapped consumers have chosen to repair, rather than replace, hobbled dishwashers and other water-intensive appliances, according to industry analysts. Electrolux says it is readying "aggressive" marketing programs that will run parallel with the rebates, and it's reasonable to expect appliance makers and retailers will devise additional discounts to amplify the rebates' appeal. "We will be ready to go when the new incentive programs hit the market," Evans said.
Latest in Stimulus: 'Cash for Refrigerators'
written by Matthew Boyle
Monday August 24, 8:08 am ET
A $300 million cash-for-clunkers-type federal program to boost sales of energy-efficient home appliances provides a glimmer of hope for beleaguered makers of washing machines and dishwashers, but it's probably not enough to lift companies such as Whirlpool (NYSE:WHR - News) and Electrolux out of the worst down cycle in the sector's history.
Beginning late this fall, the program authorizes rebates of $50 to $200 for purchases of high-efficiency household appliances. The money is part of the broader economic stimulus bill passed earlier this year. Program details will vary by state, and the Energy Dept. has set a deadline of Oct. 15 for states to file formal applications. The Energy Dept. expects the bulk of the $300 million to be awarded by the end of November. (Unlike the clunkers auto program, consumers won't have to trade in their old appliances.)
"These rebates will help families make the transition to more efficient appliances, making purchases that will directly stimulate the economy," Energy Secretary Steven Chu said in a statement announcing the plan. Only appliances covered by the Energy Star seal will qualify. In 2008, about 55% of newly produced major household appliances met those standards, which are set by the Energy Dept. and Environmental Protection Agency.
The money can't come soon enough for the home appliance industry, which is mired in an unprecedented sales slump that began when the housing market cooled in 2006. Since then that slump has worsened considerably. Shipments of washers, dryers, refrigerators, and ovens dropped 10% in 2008 and are down 15% through July, according to the Association of Home Appliance Manufacturers. "It's brutal," says Raymond James (NYSE:RJF - News) analyst Sam Darkatsh.
The leading appliance makers have felt the pinch. Whirlpool of Benton Harbor, Mich., which controls about 40% of the U.S. market, has seen its sales drop 20% through the first two quarters of this year. North American shipments for its Stockholm-based rival Electrolux, meanwhile, have dropped for a dozen consecutive quarters. Both companies have laid off hundreds of workers, and General Electric (NYSE:GE - News) mulled shutting down an entire refrigerator plant earlier this year until deciding to keep it open with a reduced workforce.
Not surprisingly, appliance makers cheered the news. Electrolux spokesman Tony Evans calls the federal program a "great opportunity to encourage consumers to replace their old appliances." Lately, cash-strapped consumers have chosen to repair, rather than replace, hobbled dishwashers and other water-intensive appliances, according to industry analysts. Electrolux says it is readying "aggressive" marketing programs that will run parallel with the rebates, and it's reasonable to expect appliance makers and retailers will devise additional discounts to amplify the rebates' appeal. "We will be ready to go when the new incentive programs hit the market," Evans said.
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