Bringing things full circle
The housing boom might not be exactly the same as the dot-com craze of the '90s, but there was plenty of irrational exuberance, to borrow Alan Greenspan's phrase, and both ended in busts.
Now they have something else in common.
President Bush, concerned that the country is heading into recession, in part because of housing-related troubles, said yesterday that he wants to send out rebate checks. Yup, like the 2001 checks mailed out to counteract the dot-com-fueled recession.
Here's a taste of The Sun's story today:
Acknowledging the toll taken by a housing slump and lagging consumer spending, President Bush urged Congress yesterday to rush one-time rebates to taxpayers and tax incentives to businesses to give the nation's economy a "shot in the arm."
Details have yet to be revealed, but the administration is putting a $145 billion figure on the plan.
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