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February 27th, 2009
12:47 PM ET
Send us your questions!
Tonight we'll be answering your financial questions.
We'll have financial experts on to break down the ways the federal budget will affect you. What does this mean for your savings, your taxes and your future? Send us your questions – we want to hear from you!
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I know very little about economics, so I am guessing I am missing something. Why give the banks money? Why not devote the entire stimulus to creating jobs, jobs that move the U.S. forward and into a leadership role concerning the environment and technology (and perhaps political systems?), and allowing lenders to pay the banks by paying on their loans? Is this a time issue? It seems we have an opportunity rather than just a crisis.
Why is the bail out upside-down?
If billions of dollars are given to unregulated, corrupt banks and big business, wouldn't that money be best spent by giving allocations to the American tax-paying public for descretionary spending? Wouldn't that move boost the economy?
If you can't make a good living on a quarter of a million dollars a year then you better learn how to manage your money-How many people in the USA make more than $250,000.00 a year?? I think if you make over $400,000 a year 85% of that should go to taxes
As a Real Estate Broker and a Mortgage Broker, I was dumbfounded by facts I learned today about current policies that are reportedly bottlenecking lending from banks.
Fact: The year over year rate of change of the money supply has shot up an astronomical 9.4%, so why aren’t banks lending that money?
Fact: The level of excess reserves in our country’s banks has shot up to phenomenal levels. Thanks to new Fed policy, for the very first time in our country’s history the bank’s can earn interest on excess reserves, risk free! With t-bills paying less than one percentage point, banks can make lofty rate of return off their excess reserves instead.
Fact: Recent regulatory changes make it more difficult, not less, for banks to lend.
If I were a bank, I wouldn’t be lending either.
Am I the only one who thinks these policies are causing the limiting lending at the present time?
Why can't the USA provide health care like Canada–they have free health care right?
what if this stimulus package does not work. what would be the next step?
I have been on Disability for 2 years. I can barely make ends meet on the funds I receive and stay independent in my rented apartment.
I know that I am lucky, I have funds to sustain me and a roof over my head. I don't take that for granted and I don't want to lose it.
I need to know what I can do for the future when I no longer have the Disability funds. I can't save, there's nothing left.
Heathcare costs for me are through the roof and I have made arrangements to consolidate my medical bills, but it will take years to pay that off.
How will I be able to find a job in this economy with a disability? Should I be trying to go back to school? With what money?
I don't see anything in the 'Stimulus Package' for someone like me.
I'm in the middle. Not middle class and not 'poor' either.
L.Lynn
Okay, I have an important question. How could anyone, even a financial expert break down the stimulus bill in it's entirety? It's 800 pages long!
What incentives are the actually giving people to get degrees and make more than $250,000 a year if they intend on taxing the wealthy or so called wealthy?
Aren't they just telling us not to bother to climb the ladder and make good money because basically they will be taxing you way more to support those who don't bother to try to get ahead in life?
I mean come on we all have the same opportunities, our own President Obama came from a low income home and he is President so anything is possible for those who actually try, so what kind of message is Congress sending out to people now?
The Government will take care of you don't bother!
Same question that I've had for months now, "Why don't the people with the ideas of how to fix this crazy economy, get a chance to bring a good idea to the table and create millions of permanent and part time jobs?". What would have happened to basketball if Michael Jordan, Kobe Bryant, or Lebron James were not allowed to take their first shot? The amount of quality assistance I get with my business will determine if we can surpass the "2 million jobs created" mark by the end of 2009.....yes.....2009!
I am interested in knowing, how much of our deficit is related to the Iraq and other wars? What could that amount of money improve in America? Gerald A.
What is he doing to make sure that jobs stay in America? We need to circulate the money in state. Why do banks of all places send their operationals overseas? and can that be attributed to the stock market/bank woes? I know they do it because they are greedy but if it doesn't circulate money in-state it still leads to recession, obviously. They should know this by now. There should be a hire-America first law and then hire-overseas law. It's not fair to people living here that an American company hires people from another country. It doesn't work, either.
I have been following your report on the economy since November 2008. Since then I have not heard mention of Fanny and Fredie and how the US government is going to control them.
My understanding of the two lending companies is that they can lend to anyone and if anything goes wrong the US government will back them. But I thought they were a private company with share holders.
I hope that they control these two spoiled kids as the US people can not afford to keep paying for their mistakes.
No accountability on Fanny or Fredie.
My daughter desperately needs a new car. Is now a good time to trade in and buy a new car? I am confused and this has turned out to be a much more complex issue than I thought. Please advise.
Thank You,
Betty Ann Taylor, Nacogdoches,TX
P.S. I can't get the i-report to work
I have lost most of my IRA and what little income I was making as a consulting engineer, due to the housing development industry collapse. And am now trying to survive on social security. With most of the "bail-out" money being mis-directed to failing institutions (banks, auto makers, etc.) it's like throwing good money after bad. Instead, when can we forgotten senior citizens expect a significant raise in our monthly SS payments, if ever, similar to the proposed raise for the military?
Why hasn't the government ask for a change in management for the banks that have taken taxpayer money? IF you have the same people that ran the banks into the ground, guess what, nothing is going to change!
I read that by 2017 a Bachelor's degree will cost $41,000. How that will fit in President Obama's dream on having an educated nation?
From Palm Beach, Florida
When are they going to start letting qualified people refinance for a lower interest rate?
I had saved over $500,000 for retirement before the crash. It is worth less than half now, about $220,000. How far will it come back between now and 2025 ?
If the Republicans "reform" social security and decrease benefits rather than increase benefits (in 1983 we started pre-paying into SS to create a surplus which Bush used SPENT on tax cuts for the rich)... will I have to eat dog food as a retiree?
I would like to know what green job has the most money allocated to it, so that I could take educational courses in those fields?
Ron "Lamont" Austin
Tucson Az
If the President wants to withdraw combat troops from Iraq by 2010, but at the same time send more troops to Afghanistan, how will this save us money?
Lilibeth
Edmonds, Washington
What if anything does it offer to small business that hire?