Obama's Economic Package is out... $400 Billion in Stimulus

Just got a message from my CNN App on my iPhone. This is very interesting, because I can't see how they will get $400 billion passed with the current Congress.

Republican's will be told that this will bring down the unemployment rate and make Obama look better going in to election season. This will be amazing to see if the Republican's choose party over country again.

 

They will choose country an oppose any more doomed to fail "stimulus".

The question is will Obama and the Democrats give up their ideology and partisan positions and put in place measures that will allow business to get the economy rolling again.

Don't count on it, we've already heard their uncivil rhetoric.

 

So you are choosing party over country again even though math is not on your side?

 

No I'm choosing country over Obama's failed plans. I'm choosing to end the 9% unemployment and flat GDP growth his plans have given us.

Are you choosing Obama over country again?

 

You are very correct, Bluesguy.

The Democrats foolishly worship at the alter of Keynesian Economics.

Guess what Guys! Keynesian Economics does not work!

An obvious fact that most liberals often ignore much to their political embarrassment is that any amount of government spending always fails to end economic recessions. Spending-stimulus advocates, such as Obama’s closest advisors and cheerleaders, claim that Congress can "inject" new money into the economy, increasing demand and therefore production.

"This raises the obvious question: From where does the government acquire the money it pumps into the economy? Congress does not have a vault of money that is simply waiting to be distributed. Every dollar Congress injects into the economy must first be taxed or borrowed out of the economy. No new spending power is created. It is merely redistributed from one group of people to another."

"This is no longer a theoretical exercise. The idea that increased deficit spending can cure recessions has been tested repeatedly, and it has failed repeatedly. The economic models that assert that every $1 of deficit spending grows the economy by $1.50 cannot explain why $1.4 trillion in deficit spending did not create a $2.1 trillion explosion of new economic activity."

 

James is once again incorrect as always,

Every single recession we have faced in the past 70 years since we realized why the Great Depression failed, we have used a Keynesian approach.

Like I said... facts are not on your guys side. You are nothing but a bunch of words with nothing to back it up.





Sorry, but the fact that you guys try to argue against basic facts is extremely amusing!!

 

4 trillion did next to nothing and you think 400 billion will be the cats meow? Amazing.

 

Since when is not having the government blow 400 billion a vote against the country? You koolaid liberals are a species all your own.

 

I'm sorry, but facts do not support your opinion.

 

Unfortunately, we never actually do a stimulus program in time.



Sorry, but I enjoy when you try to argue against facts.

 

Man there are a bunch of economists out there who claim, rightly so, that Obama and Democrats are NOT PRACTICING KEYNES. They are practicing some kind of wierd, 9th grade simplified, politically expedient version of Keynes.

Many economists I've read claim that to call what the US is doing "Keynesiansim" would have Keynes rolling over in his grave.

 

Most of this talk is because he went with more tax cuts/rebates the first round of stimulus, when really we need direct Govt spending. Reagan and Bush's top economic adviser said the same thing. We need to pump unemployed people's accounts with money, not give more money to the people who already have money.

Don't get me wrong, I am ticked off at Obama for the way he has handled this recession. I mean it is tough because of the political side of these debates, but we need more stimulus. Unless we want to go down to recessionary levels or a depression than the Govt is going to have to subsidize the demand side until people balance their balance sheets again.

 

I hate everyone in that room right now.

 

Well they've done a great job so far.

 

While $400B is a good start we really should be spending upwards of 800 billion or more. Only this time the money should spent on construction projects and job training not tax breaks for rich people and subsidies for those who don't need anymore money.

 

You are correct, akphidelt.

Obama wants us to believe he is a great administrator by unveiling this stimulus plan.

What he did not tell us is that he intends to spend $447 B to create 1.9 million new jobs.

If this is true, the jobs Obama will now create will cost the U.S. tax payers $235,000 for each new job that is added to the workforce.

Somehow, Obama great plan for reviving our economy does not seem so great after all!

 

And how many has your beloved private sector created? Thought so.

 

It will not cost the tax payers any more than they would pay with out the stimulus. And luckily, even though you don't care... we will have 1.9 million people with money to spend to create more tax payers!! Yay! Thanks Obama.

 

Where will the government get $400 billion when it is already $15 trillion in debt? Shall we borrow more money from China? Shall we print more money? Shall we raise taxes?

What is the plan to raise the money needed for this stimulus?

 

Same way we always do. Have the banks pay for the debt with bank money, credit our accounts, and then we can buy the debt on the secondary market.

Where else do you think made up money comes from?

 

Come on, akphidelt!

You are just making trhis stuff up and you know it!

Sources?

Without reliable sources, these comments are mere speculation and unsupported conclusions on your part!

 

What sources do you need to understand that your tax rate is what it is regardless of how much the Govt spends. When was the last time your taxes were raised to fund deficit spending? Hint: It has never been and never will be!! Failing Logic 101.

And how can you possibly argue against the logic of 1.9 million people with money to spend?

And honestly who adds a stupid photo after every post they make. That is very childish and annoying.

 

This is a very good question, Blackrook.

Obama doesn't have a plan.

This guy never has a plan. The plan to raise money for this new stimulus will somehow be developed by the Congressional debt-ceiling super-committee!

"So there’s the big difference between Obama and his ideological rivals -- he believes in government’s guiding hand, and his rivals believe in reducing the burden of government as a means of clearing the decks for economic growth.

That’s what this next election is going to be fought over. And that’s fine. What isn’t fine is the outright trickery with which Obama claims his new plan is going to be fully paid for off the bat.

He says the debt-ceiling super-committee, which has begun searching for $1.5 trillion to cut from the federal government, will find another $447 billion to pay for this American Jobs Act."

 

So the money is "made up"? Does that mean it isn't real? Does that mean it's like Monopoly money and doesn't mean anything?

Has it occurred to you that at some point all this money will have to be paid back? Is there anyone in Washington who has a plan to pay the money back?

Has Obama lost his mind to propose to go into debt $400 billion deeper when we are already $15 trillion in debt?

I fail to understand. I am not an economist, but this all seems like madness to me.

 

Haha!

You are funny, akphidelt.

You don't like the following political statement becases it exposes you for the person you really are!