• Home
  • About Off The Grid
  • Advertise
  • Contact Us
Monday, May 19, 2025
  • How-To
  • Grid Threats
  • Survival
  • Gardening
  • Food
  • Worldview
  • Health
  • Privacy
  • Hunting
  • Defense
  • Financial
  • News
  • Misc
No Result
View All Result
  • How-To
  • Grid Threats
  • Survival
  • Gardening
  • Food
  • Worldview
  • Health
  • Privacy
  • Hunting
  • Defense
  • Financial
  • News
  • Misc
No Result
View All Result
Off The Grid News
Home How-To

Food Stamps and Unemployment Checks Rather than Tax Cuts the Answer to our Economic Woes?

by Tim George
in How-To
Print Print
Food Stamps and Unemployment Checks Rather than Tax Cuts the Answer to our Economic Woes?
Share on FacebookShare on XShare on TruthEmail Article

WASHINGTON, D.C. – House Minority Whip Steny Hoyer (D-Md.) believes the quickest and surest road to economic recovery is more in people’s pockets. More food stamps and unemployment check that is.

When reporters at a Capitol Hill briefing asked Hoyer if Democrats are “reconsidering the wisdom” of letting the Bush tax cuts expire at the end of the year for top income he changed the subject to government assistance. “I haven’t talked to any who are of that mind,” said Hoyer. “If you talk to economists, they will tell you there are two things that are the most stimulative that you can do — one’s unemployment insurance, the other’s food stamps, okay?”

“Why is that?” he said.  “Because those folks who receive those resources must spend them. And they’ll spend them almost upon receipt. Most economists with whom I talk believe that those with significant discretionary income, that that’s not the case.”

Unless action is taken by Congress, the Bush tax cuts will expire on Jan. 1, 2013.  Originally enacted in 2001 and 2003, President Barack Obama and Congress renewed the cuts for all income-brackets for two years in 2010. Now Democrats are proposing the rates be extended for one more year, until the end of 2013, for people earning less than $250,000 a year. Republicans, on the other hand, are calling for the rates to be extended to people of all income brackets.

The Congressional Budget Office has projected that if the Bush tax cuts are allowed to expire at the end of 2012, it will lead to a 1.3 percent contraction in GDP after Jan. 1, 2013. Long term projections are conclusive that allowing those tax cuts to expire coupled with a scheduled round of automatic spending cuts will throw the U.S. economy into a nose dive. The CBO warns that allowing the GDP to fall any further is like pushing the struggling economy off a”fiscal cliff”.

On January 1, 2013 higher tax rates will kick in and $100 billion in automatic budget cuts are now mandated by law. Lawmakers are expected to head off a shift in the government’s financial situation later this year or in early 2013, but the CBO says if nothing is done it would likely push the US economy into yet another recession and wrest hundreds of billions of dollars from the budget deficit. Last summer’s debt and budget agreement imposed almost $1 trillion in cuts to agency budgets over the coming decade and required automatic cuts of another $1 trillion or so.

The CBO study comes as Congress is gridlocked over spending and taxes in advance of the fall elections. The White House and top Democrats are refusing to act on the expiring tax cuts and automatic spending cuts unless Republicans show greater flexibility on raising taxes.

Until long-term solutions are enacted and scheduled to be voted on out of the limelight of national elections we are likely to continue to see stop-gap measures that lead to even more economic gridlock.

©2012 Off the Grid News

ShareTweetShareSend

Related Posts

Safe And Effective Ways to Defend Your Home From Ants Without Using Poisons

Safe And Effective Ways to Defend Your Home From Ants Without Using Poisons

by Bill Heid

As warm weather rolls in, so do the ants—marching through your kitchen, marching along baseboards, or trailing across patios and...

The Secret Lives of Ticks: How They Find You and Natural Ways to Fight Back

The Secret Lives of Ticks: How They Find You and Natural Ways to Fight Back

by Bill Heid

It's a common experience to return from a day outdoors and discover a tick nestled in your skin or your...

How to Use Diatomaceous Earth This Spring As A Powerful Natural Insect Shield

How to Use Diatomaceous Earth This Spring As A Powerful Natural Insect Shield

by Bill Heid

When Spring Wakes Up… So Do The Bugs With longer days and warmer temperatures, spring brings a welcome burst of...

Next Post

90 Minutes and Another World Entirely with Jan Ross and Dave Young - Episode 112

YOU MAY ALSO LIKE

Police Mistook This Kid’s Food For Meth, Tossed Woman In Jail For A WHOLE MONTH

Police Mistook This Kid’s Food For Meth, Tossed Woman In Jail For A WHOLE MONTH

Unusual Way To Actually Start A Fire With Water

Unusual Way To Actually Start A Fire With Water

Secession

1 in 5 Americans Now Support Seceding

TRENDING STORIES

  • bubonic plague

    Is Another Bubonic Plague Pandemic On The Horizon?

    0 shares
    Share 0 Tweet 0
  • Waco Fertilizer Plant Explosion & A Look Back On The “Waco Massacre”

    0 shares
    Share 0 Tweet 0
  • Make Yourself 3 Times More Likely To Survive A Heart Attack

    0 shares
    Share 0 Tweet 0
  • AI Surveillance Of Shoppers: Walmart’s Newest Tool To Grab Your Data

    0 shares
    Share 0 Tweet 0
  • ‘Apocalyptic’ Microchip Implants Are Here – And Being Inserted Into People’s Hands

    0 shares
    Share 0 Tweet 0

Subscribe to our Insider Newsletter

Huge discounts on off-the-grid gear and life saving supplements.






‘Off The Grid News’ is an independent, weekly email newsletter and website that is crammed full of practical information on living and surviving off the grid. Advice you’ll never hear from the mainstream media.

  • How-To
  • Grid Threats
  • Extreme Survival
  • Survival Gardening
  • Off-Grid Foods
  • Worldview
  • Natural Health
  • Survival Hunting
  • Privacy
  • Financial
  • Current Events
  • Self Defense
  • Home Defense
  • Pain-Free Living
  • Miscellaneous
  • Off Grid Videos

© Copyright 2025 Off The Grid News.  All Rights Reserved.

No Result
View All Result
  • How-To
  • Grid Threats
  • Survival
  • Gardening
  • Food
  • Worldview
  • Health
  • Privacy
  • Hunting
  • Defense
  • Financial
  • News
  • Misc
  • Videos

© Copyright 2025 Off The Grid News.  All Rights Reserved.