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

Where on earth do you think a made up currency comes from? It has to be "made up" somewhere.

Every year over a third of the national debt matures. It is paid off every year with out any hiccups. There is no solvency problems to a country that makes up it's own currency.

Let me ask you... where do you think we got $10 trillion (this is public debt we are talking about, since intragovernmental debt doesn't actually exist) from?

 

You are correct, Blackrook.

Especially when you say, "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."

This is exactly why the economic advisors he has appointed throughout his administration have all resigned!



The foolish Democrats are debt addicts and just don't know when to stop spending! With the Federal debt of $14.7 trillion amounting to $185,000 for every family of four, at some point we have to concede that the federal checkbook has its limits. Cuts in spending are only a start, other programs need to be abolished or radically changed. ... The old guard Democrats and old guard Republicans have been in Congress far too long. They are too beholden to special interest groups to have the good of average, typical Americans in mind.

 

I don't understand your math. If we spend almost a half trillion dollars extra, it won't cost any more than if we didn't?

Explain how that works.

 

Actually no, of recent Clinton inherited a recovery after the Keynesian tax increase Bush agreed to ushered in a recession prior to that. His tax rate increases and higher spending, although he didn't get all he wanted, slowed that recovery and it was the tax cuts he was force to sign that really grew revenues and extended the growth period, Bush inherited a slowdown and his tax rate cuts softened that blow and then when the economy turned around really took off with high revenue growth. The Dems came back into power and we see where we are with their Keynesian policies.

 

American Jobs Act is just another name for "Lets kick the can down the road some more".It will take over a year to get the Infrastructure Bank in place,we still have the Debt Ceiling to deal with,we still need to fund FEMA,we still need to find a way to fund the Government.Know one will even see these proposed "tax credits" until January 2013(if implimented by January 2012)The Commitee will have to find cuts to fund this bill,and Im pretty sure Medicare,Medicaid,and Social Security will get an axe to fund this,and we know this will not sit well with the Democrats.We wont see results of this bill ,if any until late 2012.
By then,it will be election time.
This is too little,too late for Obama.14 months is not enough time for this bill to kick in in time to save his ass.The unemployment rate will still be above 8%,Americans are growing impatient with this President on the economy(39% disapprove of his handling of the economy)and many have already given up on him.If "Pass This Bill" is going to be his campaign slogan,then get ready to watch our new President be sworn in on January 2013 because he will be crushed. And Im also seeing the House RINOS and Socialists getting booted out and the Senate turned inside out.Were going to kick all of them out!

 

Hardly. Keynes was a Fabian Socialist, his goal was to see international socialism. Everything these guys are doing is heading is straight down that path - with the destruction of the American economy. And they ARE using Keynesian methods to do it. Fiat currency, government spending, debt and inflation: Keynesianism.

 

Where are we going to get the money to do this?

 

The free market has to correct itself from the assault the central bank and government have put it through. That takes much longer than if you artificially start printing money and using it to create jobs, which is just going to create another false bubble exactly like the one before it, except way bigger. It's insane to believe that you can combat a recession with the exact same economic policies which caused it in the first place.

 

That's code for "lets print some more money". Reckless.