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Rutledge Column: Stimulus' easy come, easy go


Cox News Service

Sunday, May 18, 2008

GREENVILLE – I'm glad President Bush chose to ignore all the highly respected financial experts who kept saying the economic stimulus package was a bad idea. I get the feeling most of those people are accustomed to stimulating the economy without help from the government.

As stimulus checks go, my wife and I made out pretty good, thanks to our three children. But the money only briefly passed in front of us.

And as it did, I was able to identify a couple of reasons why this actually was a good idea that should easily pull our nation out of the economic downturn.

The first reason is something I call the two-for-one rule. Human nature dictates that most people who stumble upon a dollar will spend it at least twice.

I learned this rule during my young-and-single years in East Tennessee. Standing at the bar in a Knoxville, Tenn., nightclub in 1985, my friend Ashley Scott spotted a $10 bill on the floor.

He politely covered the money with his foot and waited the customary three minutes for its rightful owner to step forward. Needless to say, the next round was on Ashley.

Somehow, a little extra money had a big effect on our financial decisions for the remainder of the evening.

"Should we stop at a restaurant or go on home? Do we want hamburgers or steak? Will the tip be 15 percent or 20?"

The ripple effect of unexpected funds is such that certain business establishments could make big money by dropping small amounts on the floor from time to time.

The second way I can tell that the stimulus package is working has to do with a phenomenon known as middle-income Murphy's Law: Whatever can go wrong usually will go wrong just as the checking account begins to ride an unanticipated wave.

My wife and I used our stimulus money – almost to the penny – to purchase a much-needed mattress set. Before the first restful night on the new bedding, however, our home's heating and cooling system announced it would no longer provide service.

My wife thinks our system stopped working because it's at least as old as that 1980s $10 bill Ashley found in Knoxville, but I believe it stopped because it wanted a piece of the stimulus check.

And it's not alone. We also need new tires for the minivan, the washing machine is acting up and I'll be very surprised if the lawnmower lives to see July.

The economic stimulus check merely primed the pump. Now, we're back to spending money we don't have – and what could be better for America than that?

So as you can see, Mr. President, the extra money is being put to good use.

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