There seems to be much agreement that we should kickstart the economy by spending. However, no one seems to be very clear about the type of spending that we need to do. I don't think that shopping at a mall is the best way to kick-start the economy. The stores may do well but the individuals just end up back in debt.
However, today's article in the Times:
suggests a new way to promote spending while keeping people off the streets and out of shelters. I have thought it would have been cheaper for the government to pay off the mortgages of the millions of foreclosed Americans andd told them that they owned their house. This would have kept the banks solvent and freed up the homeowner to spend money that would otherwise have gotten to an inflated mortagage on home repair, education, retirement savings, shopping in local stores, etc. Those of us who actually paid our mortgage could have been given a bonus for actually paying it. Let these squatters keep their houses and spend economy-boosting money on them!
Does anyone have other suggestions on good ways to boost the economy by spending? Please post.