The Instigator
Darkmaff666
Con (against)
Winning
15 Points
The Contender
elzbieta08
Pro (for)
Losing
9 Points

That the economic-stimulus act of 2008 will sucessfully mitigate economic slowdowns over this year

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Voting Style: Open Point System: 7 Point
Started: 4/2/2008 Category: Miscellaneous
Updated: 9 years ago Status: Voting Period
Viewed: 981 times Debate No: 3486
Debate Rounds (5)
Comments (0)
Votes (8)

 

Darkmaff666

Con

a one time "rebate check", while it may provide atemporary boost to many working american families struggling with the current downturn, is not going to provide the type of sustained income growth nessary to restore consumer confidence......spoken by senator ron paul..i am against the resolution that states...That the economic-stimulus act of 2008 will sucessfully mitigate economic slowdowns over the next year...

the stimulus act will only add on to US deficits...

the congressional budget office." options for respondding to short term economic weaknes" jan 2008 stated that.....poorly timed policies may do harm by aggravating infltioanry pressures and needlesly increasing federal debt and if they stimulate the economy after it has already started to recover..........................yeah beat that.....its all i got up to now so sorry...
elzbieta08

Pro

My PF partner and I don't have much either and we have 30 mins to write a case, so here goes....

My opponent assumes that this is a "poorly timed policy," but it is clear that this policy could not come at a better time. The economy is in urgent need of help, and the fact that Congress was forced to overcome its partisanship to approve this bill only reinforces this.

Now for my contentions:

First, rebates have had the desired effect in the past, 2001 being a significant precedent. According to the National Bureau of Economic Research, when rebates of $300 per person were given in 2001, two thirds of the cash had been spent in the first six months. The economy proceeded to grow 1.6% in that quarter and 1.4% in the following quarter, according to Rachael Beck of the Associated Press. This had the precise result of mitigating economic slowdown in the short term, as the resolution states.

Second, even if some Americans choose to save their money, it will still benefit the economy. According to Brian M. Riedl in The Washington Times on January 16, 2008, the banks will lend the money to others to spend. "Therefore, money is spent whether it is initially consumed or saved."
Debate Round No. 1
Darkmaff666

Con

Ok then starting off I would Present new arguements then attacking my oppenents. First our product here in US has increase dramatically. According to USITC Interactive Tariff and Trade DataWeb The majority of products we have our from other place such as, Footwear is 92% import, audio and video equiment is about 90%, computer equipment is 79% and apparel is about 75%. so we can clearly see that the products we mostly use are not even made here in which will make no difference to the US economy. Why are we going to waste money on products made in other places? Also According to Al Norman, editor of the monthly Sprawl-Busters Alert, Wal-Mart makes about $819,976 in sales every minute during the fourth quarter of its 2007 fiscal year. What does that mean? Well it means Wal-Mart will be wasting every single person with their rebate checks going to their store. why is this a major problem? Also accroding to Norman, Wal-Mart is estimated to was about $9 billion worth of imports from China this year, not including its indirect imports. so we can clearly see if we waste this money or not the majority of the will not go to the economy but to other countries. Now also this also effect the US deficit with china increased.

also to attack the 2001 stimulus act...it didnt help at all..stated by Eugene from daily Kos. the stimulus act before didnt work either people didnt get that much money...and aswell payed of bills...people arent going to put it in the bank they ar going to pay of the bank mortgages and such...debt..so in saying this....the people are only going to do what they did in the past pay off debt and bills....it is not going to help the economy and it wont make jobs for many in the US....
elzbieta08

Pro

elzbieta08 forfeited this round.
Debate Round No. 2
Darkmaff666

Con

we win.......and for that we see that we need to work on our case.........................................................
elzbieta08

Pro

elzbieta08 forfeited this round.
Debate Round No. 3
Darkmaff666

Con

well we win.....................................yeah i win.......................ok well at least you tried am i right.....whats wrong well ok bye bye
elzbieta08

Pro

Regardless of how many of the products are made in the U.S., the money still benefits the U.S. economy. Not all of the revenue goes to foreign producers, it is still needed for employees' salaries in the U.S., and even foreign companies have plants in the U.S. Speaking of which, the Act also provides incentives for small businesses in the U.S. According to the IRS, "These incentives include a special 50-percent depreciation allowance for 2008 purchases and an increase in the small business expensing limitation for tax years beginning in 2008." So the Act is putting money back into the economy, even if the rebates are spent on foreign products.

Yeah you should win since i just forfeited like 2 rounds.... sorry :)
Debate Round No. 4
Darkmaff666

Con

Darkmaff666 forfeited this round.
elzbieta08

Pro

elzbieta08 forfeited this round.
Debate Round No. 5
No comments have been posted on this debate.
8 votes have been placed for this debate. Showing 1 through 8 records.
Vote Placed by timothykcct 8 years ago
timothykcct
Darkmaff666elzbieta08Tied
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Vote Placed by thenightgoddess 9 years ago
thenightgoddess
Darkmaff666elzbieta08Tied
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Vote Placed by smiletrishalovesyou 9 years ago
smiletrishalovesyou
Darkmaff666elzbieta08Tied
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Vote Placed by livi 9 years ago
livi
Darkmaff666elzbieta08Tied
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Vote Placed by MDHarris08 9 years ago
MDHarris08
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Vote Placed by WeaponE 9 years ago
WeaponE
Darkmaff666elzbieta08Tied
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Vote Placed by brian_eggleston 9 years ago
brian_eggleston
Darkmaff666elzbieta08Tied
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Vote Placed by polishgirlinar 9 years ago
polishgirlinar
Darkmaff666elzbieta08Tied
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