Shrub’s Hot Air Economic Balloon

Facts matter: Sign up for the free Mother Jones Daily newsletter. Support our nonprofit reporting. Subscribe to our print magazine.


Returning from his desert sojourn, President Bush is facing tanking stock markets, a housing collapse that, as long predicted, is pulling down the whole economy, an enfeebled currency, and a do-nothing political climate both in Washington and on the campaign trail. His response: a pipsqueak economic stimulus plan.

According to a report yesterday from the Center on Budget and Policy Priorities, Bush’s scheme is a lot of hot air. Robert Greenstein, executive director of the center, said the rebate temporarily eliminating the 10 percent income tax bracket isn’t aimed at the people who would spend the money. “This plan would bypass altogether, or provide only partial help to, the more than 40 percent of tax filers — over 50 million filers — with the most modest incomes. Families of four below $40,950 would get partial help or nothing at all.”

You can read the center’s report at www.cbpp.org, along with more effective suggestions for economic stimulus.

THE TRUTH...

is the first thing despots go after. An unwavering commitment to it is probably what draws you to Mother Jones' journalism. And as we're seeing in the US and the world around, authoritarians seek to poison the discourse and the way we relate to each other because they can't stand people coming together around a shared sense of the truth—it's a huge threat to them.

Which is also a pretty great way to describe Mother Jones' mission: People coming together around the truth to hold power accountable.

And right now, we need to raise about $400,000 from our online readers over the next two months to hit our annual goal and make good on that mission. Read more about the information war we find ourselves in and how people-powered, independent reporting can and must rise to the challenge—and please support our team's truth-telling journalism with a donation if you can right now.

payment methods

THE TRUTH...

is the first thing despots go after. An unwavering commitment to it is probably what draws you to Mother Jones' journalism. And as we're seeing in the US and the world around, authoritarians seek to poison the discourse and the way we relate to each other because they can't stand people coming together around a shared sense of the truth—it's a huge threat to them.

Which is also a pretty great way to describe Mother Jones' mission: People coming together around the truth to hold power accountable.

And right now, we need to raise about $400,000 from our online readers over the next two months to hit our annual goal and make good on that mission. Read more about the information war we find ourselves in and how people-powered, independent reporting can and must rise to the challenge—and please support our team's truth-telling journalism with a donation if you can right now.

payment methods

We Recommend

Latest

Sign up for our free newsletter

Subscribe to the Mother Jones Daily to have our top stories delivered directly to your inbox.

Get our award-winning magazine

Save big on a full year of investigations, ideas, and insights.

Subscribe

Support our journalism

Help Mother Jones' reporters dig deep with a tax-deductible donation.

Donate