1 post tagged “state of the nation”

It was announced in Washington today that President Bush and Federal Reserve Chairman Ben Bernanke have welcomed calls for an economic stimulus package to avert recession.

This plan will likely be quickly implemented and temporary in order not to over-complicate longer-term fiscal challenges.

According to this morning's national news reports, The Federal reserve chief has told the House Budget Committee, that efforts involving "putting money into the hands of households and firms that would spend it in the near term" would be far more effective than other options, including a permanent tax cut.

It is considered highly likely that the package would include tax rebates. Bernanke forecast slower growth in 2008 but not a recession.

Meanwhile, back in Sonoma County, a sluggish real estate market is perfectly poised to kick start the local economy just as soon as home hunters realize their incredible buying potential.

Good, strong mortgages are abundant in the marketplace today. Interest rates are falling. Inventory is high. Affordability is back in style and flexible sellers are seeing the light.

Expectations are high for this latest economic stimulus package to be presented during the president's upcoming national address in ten days time.