In an effort to turn around a limping economy, the Bush Administration has decided to give single tax payers who earn less than $75,000 annually a tax rebate of $600 and couples earning less than $150,000 a tax rebate of $1200. In the mean time, the "Federal Reserve" has agreed to take on $30 billion of illiquid assets belonging to the once highly coveted investment bank Bear Sterns. This response, while possibly having a short term positive impact on the economy, according to published reports is viewed by many economist more as a bandage that won't stop the slide of the dollar nor the slow march to recession.
Do you believe the lack of a comprehensive economic strategy by the Bush Administration will inevitably lead America into recession?
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