2 of 3

No

Write now Article Tools

No, I don't believe that the Federal Cut will be good for consumers. Most of the recipients will not use the extra money for buying useless items in well known stores. They will instead pay things like rent and heating costs. Stimulating the economy should come from inflationary increases for the recipients in food stamps, housing programs and more social health care programs.

The current status quo is only a patch reform for the inevitable breakdown of a democratic society that should be leaning toward more socialized reform. More shopping can stimulate private businesses giving the illusion of a better economy but, stabilizing can take much more planning and a better use of borrowed funding. Incidentally, why are we borrowing again? We need to spend less money abroad and spend more money at home for stabilizing our own social programs. In my opinion, this is the only way to increase consumer spending not by legislating a bandaid in the wake of panicking politicians. Tolerance for non spending also need to be understood in a particularly volatile marketplace. January was never a great retail month. Perhaps they should do their history check before proclaiming Armageddon.

Retailers are not folding up in response to low sales because they know their sales history. The facts are that not one person in the legislature will experience the problem that they are trying to solve because their income levels do not reach the same level as the people that it will effect. Bottom-line we need to have politicians who have suffered some form of poverty in their live times to truly understand the needs of the people that they are serving. The middle class does not exist anymore and we only have two; rich and poor. One of them remains untouched. Classes only exist on other continents or so we think.

In other words, now is the time to enact a plan for the future. To change the way we think of our country. We are no longer a nation of people who struggle than succeed. We are a nation of individuals who want what we cannot have. A home, a car, maybe, we think these are basic needs. Maybe, they are.

Learn more about this author, Joanne Harris.
Click here to send author comments or questions.

Add your voice

Know something about Are the Fed's recent interest rate cuts good for consumers??
We want to hear your view. Write now!