About

Now.

Responding to your message
From: senator@boxer.senate.gov
To: me
Date: Mon Feb 11 08:27:21 2008

Dear Mrs. Me:

Thank you for contacting me regarding H.R.5140, the Recovery Rebates and Economic Stimulus for the American People Act of 2008. I appreciate hearing from you about this economic stimulus package, and I want to assure you that I strongly support providing Americans with timely relief.  I am pleased to report that on February 7, 2008, the Senate passed its version of H.R.5140. I voted for this important legislation, which also passed the House of Representatives and will soon be signed into law by President Bush.

Although I am pleased that we were able to add seniors and disabled veterans to the rebate program, I am very disappointed that my Republican colleagues blocked our efforts to extend unemployment benefits, add funding for low-income heating assistance and include tax breaks for green energy, homebuilders and homeowners.

H.R.5140 will provide approximately 130 million Americans with rebate checks of $300-$600 per individual and $600-$1,200 for married couples, plus $300 per child. 

The Senate’s version of H.R.5140 will also provide rebate checks to 20 million seniors, including about 2 million Californians. In addition, H.R.5140 will provide rebate checks for 250,000 disabled veterans who receive at least $3,000 in nontaxable disability compensation.

I believe that these provisions are crucial to stimulating our economy, as our seniors and disabled veterans are among those most in need of assistance and also among those most likely to quickly spend their entire rebate. H.R.5140 also addresses the mortgage foreclosure crisis by temporarily raising loan limits for federally backed mortgages to $729,750, which would allow many borrowers who have or are seeking higher interest jumbo loans to qualify for lower interest rate conforming loans. This will help our families lower their monthly mortgage payments and even save their homes from foreclosure.


Again, thank you for writing to me. Please feel free to contact me again about this or any other issue of concern to you. Barbara Boxer
United States Senator
Please visit my website at
http://boxer.senate.gov

First of all, let me say that I guess I was unaware that the current situation made our relatively stable poverty any more “dire” than it has always been.  I guess since the insolvency of many banks and wealthy people involved, people who can afford a house over $250,000 need a government hand-out in the form of mortgage refinancing so the banks don’t completely bust. Rather than work out the real issue, we are given a smoke screen, aka the “Stimulus” has been released into the wild.  What this really should be called is welfare for the rich, and the greedy.  I do not care about their mortgage payment or foreclosure.  I do not. I would not consciously spend my money on strangers this way.  This is not a government of representation when the wealthy are getting bailed out.   I pay taxes for this?  Really?  This is insanity at its finest.   (Besides this war…)

Do I not want a check in May or June?  I guess I don’t.  I don’t because it really means that someone fucked up somewhere along the line and this is a pre-payment of a credit line my child, his children and their children’s children will have to pay for.  But if you get a check here are some suggestions on what to do with it:

            Put it in a savings account

            Pay off a credit card

            Pay of a student loan

 

This “Stimulus” check also muddles the issue that we’re giving Freddie Mac and Fannie May “temporary” increases in the loan limits. How many people are going to be paying attention to this, or really understand what this is?  Guessing by the number of people who signed on the bottom line for a ARM or two, and those that thought $500,000 homes (or more) were within their budget to begin with, not many.

Perhaps this 1% stimulus will temporarily delay the inevitable need for a reset of the housing and mortgage industries.  But I just have to wonder, will it do more harm than good?   If our elected officials do little to nothing to lower the prices of housing for those of us working slaves that make “average” wages, why did we elect them?  Why should we keep them elected?  A positive “spin” in a response email still does nothing to make the situation positive. 

I am still curious if they also extended the Patriot Act with this Stimulus package.  Something I have not read about recently, but hope was not.  I believe the House version did not include King George’s free pass this round.  I believe they will do that on the 15th. 

Maybe I should return to having “blind faith” in my government.  Perhaps this delusion would make it easier to stomach the random speculations and politics of the wealthy that determine our fates.

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