US Stimulus (economic type)

[Jimmy2]

Giving Big tax cuts to all working Americans will get the money flowing.

Taking less taxes in our pay checks will put more money into the economy.

Unemployment benefits should not be taxed your out of work you need all the $$ you can to get by.

But all this money going to museums,lawns and other wasted venture will make no long term work for no one its sickning!!!!!!!!

This is our Tax money what the hell are they doing to us!!!!!!!!!

The one BIG CANCER is Nancy Polosi she is pure evil and out of touch with middle class Americans and is causing alot of the problems we face with this bill.I hope other Dems relize this and get her off the top seat in my party!!!!! Oh and she is a real big lier!!!

[habanohal]

All must realize that income tax was only to last a few years after WW2. This is a free COuntry, but at what costs? Over %50 of erverything you have or make goes to goverment to tell you what to do.

[jdbrown]

Giving Big tax cuts to all working Americans will get the money flowing.

Taking less taxes in our pay checks will put more money into the economy.

Unemployment benefits should not be taxed your out of work you need all the $$ you can to get by.

But all this money going to museums,lawns and other wasted venture will make no long term work for no one its sickning!!!!!!!!

This is our Tax money what the hell are they doing to us!!!!!!!!!

The one BIG CANCER is Nancy Polosi she is pure evil and out of touch with middle class Americans and is causing alot of the problems we face with this bill.I hope other Dems relize this and get her off the top seat in my party!!!!! Oh and she is a real big lier!!!

/quote]

You hit the nail on the head Jimmy...NP is a big problem. I had the Feds in my office last week for an audit and they echo the sentiments. A one year tax holiday while keeping the infracture portion to trickle down over the next 3-5 years would do the trick!! NO it wont work!

[Jimmy2]

She must go we need someone in touch with middle class people .A person who knows how it is to struggle to get the bills paid each week for his /her family.

She don't have any of those qualities and has been a failure from the start my party ****ed up big time.

Hollywood Filthy RICHHHHHH ***** useless its her way or the high way its scary that she cant handle the power given to her responsively .

I also think they are pushing this bill way to fast which is also scary.

They are using Fear / Scare tactics to the people of this country just to get it pushed through. As if they are hiding a lot of wastefully spending in there.If read good before passing it a lot may be cut out because its no good for growth for this country and the Dems cant have that.But my party is on a BIG spending spree and are out of control spending our money on a lot of wastefully projects that will not get the country going.

I thought the whole purpose of this bill was only to get the country moving again in the right direction ?

Some of the stuff I read has nothing to do with job growth or at least long term.

There is some really good stuff in there to but there is a lot of money being wasted on non job growth projects.

I hope they nail it right this time around.

[SethG]

I'm thinking it won't help much and more will be spent on another failed idea in a few months.

I DO think that if each taxpayer in the U.S. was given $200,000

that the economy would be jumping real fast, for less cost.

There are 305.8 million people in the US (census) 200K times 305.8 million people is:

611,649,462,000,000

Unless my math is wrong that's around 612 Trillion dollars.

[SethG]

Well, all ranting aside (and in fact we should rant)

It was 1,073 pages of legislation that no one has read, where's the transparency? Where's the pledge to show this stuff on the web? No one read it, they admitted that no one read it because it was only on the floor for a few minutes. It creates "only" 304,000 new permanent government jobs (DMV etc...), that's "stimulus"

Obama has a dream team of economists, where are they? Have they been saying this is "right" or evan talking scientifically about what this will do? No, they're silent.

Economically, this will harm the economy greatly as it did in Japan during the lost decade. It's basic neo-keynesian economics which are impossible, explain "Stagflation" which is impossible under Keynes, yet I remember the 80's....

The idea is this, if you take and spend it's better than not taking at all, because rich people spend 10% and save 90% and poor people spend 100% and save nothing. Which made sense in 1850, here's the problem, rich people don't put their money under their mattresses, they put it in banks and it gets immediately loaned out again. AND it get's loaned out at the 9-1 fractional reserve!

See?!?!?!?

[stargazer14]

Seth, I noted that each TAXPAYER, of which there are about 140 million,

would get $200,000, that will bring the future debt to our children down a bit from your estimate.

Now that would get some money back into circulation and save a few home from foreclosure.

of course, much of my share would only end up in Australia.....

[Colt45]

The following is simply my own personal opinion.....

American kool aid drinkers voted a political extremist into office. No one should be surprised by what is happening, and what is to come.

Stock up on personal lubricant, and don't expect dinner first.

They're taking around eight hundred billion tax payer dollars - our money, and throwing us a bone of how much? Eff them. If they really

want to get things back on track, get government spending back in line. Now.

Drop the income tax to five - ten percent across the board. Everyone pays, nobody overpays / underpays. No federal aid to states that

abuse their residents with over taxation. Stop penalizing people for getting ahead - don't kill us if we sell a house, inherit a little money

etc. Give us the opportunity to help ourselves. Actually, the government is in no position to give it to us - just stay the f@#k out of the way.

If people want to gamble on wall street, let them. Find a way to keep it from killing joe public. Did I say keep the government the f@#k

out of my way?

P.S. The kool aid remark is intentionally contentious

[SethG]

Seth, I noted that each TAXPAYER, of which there are about 140 million,

would get $200,000, that will bring the future debt to our children down a bit from your estimate.

Now that would get some money back into circulation and save a few home from foreclosure.

of course, much of my share would only end up in Australia.....

Is my math wrong or is that 280 trillion dollars? There's less than a trillion dollars even in circulation. This bill is larger than every US bill in existence. The majority of it isn't even in this country.

http://www.newyorkfed.org/aboutthefed/fedpoint/fed01.html

If you took every dollar in circulation away from everyone who had one , everywhere in the world, and redistributed it among taxpayers... it'd be less than 6,000 dollars per person.

this problem starts and ends with voters and congressmen that don't even understand how much money there is or isn't in existence.

This government just passed a law handing out more money to special interest groups than is even in printed existence. think about it. It makes WMD look like a joke. Anyone who voted for this bill is your enemy and if you voted for anyone who has signed this bill you should be ashamed and spend your time trying to get them out of office because you contributed to this problem.

[jwm8592]

I have to go w/Colt on this one, his response is exactly how I feel. Basically what got us into this mess, was the bill (I can't think of the name of it currently) that forced banks to loan money to the sub prime lenders, just because they thought it would be nice if everyone could live the American dream of owning their own home. Well in order for that to work, it would be helpful if they had a job and could pay the loan back. The same guys/gals that just pushed this trillion dollar stimulus package through are the ones who approved the above loans, which appears to be the straw that broke the camel's back as far as the economy goes. I mean who thinks they can borrow $300,000 when they are only qualified to borrow $100,000, and then only pay interest on the loan for the first 3-5 years, and not have that blow up in your face at some point. I actually had to acquire a home loan during this time and was approached by the interest only loan people, common sense says unless your selling VERY SHORT term (and you can actually make the sale), this won't work. If you can barely afford the interest only payment, what happens when it resets and you now owe double. Oh that's right an extremist democrat will come into office and pass legislation that will give tax breaks to those who CURRENTLY don't pay any taxes, he will cap the pay of executives (that do work their asses off, and who now will go to work for foreign companies, and leave the US companies even further behind) he will re-write those BAD mortgages so that you no longer have to be responsible for your own actions and decisions be they financial or any other decisions you might have to make regarding yours and your families lives. How do you like the CHANGE so far?

Sorry for the rant, feel free to delete mods!

[xapa97]

No. You can't fix bad financial decisions with more bad financial decisions.

[chuck1rar]

Just a personal observation maybe wrong depends on how u look at it.

But seems like a lot of people believe that the Govt should be handing out money to recover from this mess.

For one thing I totally agree that the amount to each family over a year will have little affect.

But maybe instead of people expecting free handouts it would be better and more responsible for the government to control the excesses the American people have become so comfortable with..This is not to say just in the US but this sort of policy exists everywhere.

We the people are also responsible for the economic mess, so the only solutions that work are the ones that hurt and unfortunately the pain is never shared equally.

Am no economic guru just for me appears to be a waste but the government does it because the people are expecting to get something for nothing.

[Jimmy2]

This the same type of bail out Japan was give 10 years ago and look at there economy it still has not recovered. We should learn from other countries mistakes ...

[Colt45]

But seems like a lot of people believe that the Govt should be handing out money to recover from this mess.

I can only speak for myself......

As an American who works for a living I don't think this way at all. I still believe in personal responsibility. I still believe I should be

allowed to succeed. I still believe in minimal government interference in my daily life.

[ghost]

I do not believe it will work. I especially don't think the auto bailout is going to work. We now have Fiat leeching off a percentage of the federal funds chrysler will receive. Look at how the GM and Fiat agreement went. LOL. GM cars aren't very interesting anymore. Get rid of this crap you have now and bring some of the Holden's to the usa without a damn pontiac emblem on them if you want sales. Most American cars do not deliver the ammount of class and luxury I want in a vehicle; and that's why I buy european. I used to like cadillac, until they did away with the fleetwood. I liked chevrolet impalas before 1997.

As of the bailout, most of it is just wasting our money and bringing on more debt to the next generation. honestly, its a freakin joke. The biggest problem, as stated above, is the bill allowing almost unregulated borrowing. Don't buy crap you can't afford. You shouldn't need the government to tell you that. Then you expect them to bail you out becasue you did something stupid? How will that work? Spend more money becasue we don't have enough? How does that make any sense?

[tsolomon]

The simple answer is no, it's not going to work. Fear and uncertainty is what the country is running on right now and I don’t see this bill as a calming or reassuring influence. Until people start going back to work, the fear and uncertainty will continue.

[mkz]

This the same type of bail out Japan was give 10 years ago and look at there economy it still has not recovered. We should learn from other countries mistakes ...

Heard that Obama is looking at the "swedish way": http://abcnews.go.com/print?id=6844330

[Wiley]

Kool-aid anyone?

Obama's antithesis to recovery

[DrunkenMonkey]

Where is the bill?

Was to be put up for public view for all to see before the vote thats what dems said.

They are hiding something and i know what alot of our wasted tax dollars on stuff that has nothing to do with helping us.

They are going to make Bush look like an angel when this is all over.

This is our TAX $$$ the American poeple and they have no respect for us as to post what the hell its all going to!!!!!!!!

It's posted here:

http://www.recovery.gov/

Both versions were up there since before the votes, and the reconciled bill was put up there before the vote.

And there's no money in there for acorn (go ahead, do a keyword search).

They're hiding it exactly where they said they would post it, on the website set up for the purpose of posting the bill. It's not hard to find. recovery.gov

I don't disagree with you that politicians are too free with our money, but the fact is that when the republicans had complete control, they spent like sailors, and they didn't have this crisis to deal with.

The whole idea of an economic stimulus is for the government to spend money to stimulate demand.

I don't know that it will work, but I know that not doing it won't work.

[Jimmy2]

Well it looks as if i will be laid off tomorrow thanks for the bill Obama. Well i really mean Pres Nancy Polosi out of touch and out of her mind!

[aavkk]

sorry to hear Jimmy, best of luck to getting back on your feet!

[SethG]

The whole idea of an economic stimulus is for the government to spend money to stimulate demand.

I don't know that it will work, but I know that not doing it won't work.

That economic theory is dead, Carter tried it and created stagflation. If the government can spend money to stimulate the economy then you can't have high government spending and high unemployment. In fact the opposite is true, the government can stimulate the economy by spending less money since it holds inflation low and leaves money in wallets that people/companies can spend on their own.

That link you gave us contains a 407 page House of Representatives bill, news has reported that the final bill is 1,073 pages. Everyone has acknowledged that no one in congress was able to read the bill in the several hours before voting on it. There doesn't seem to be much debate?

[SethG]

Well it looks as if i will be laid off tomorrow thanks for the bill Obama. Well i really mean Pres Nancy Polosi out of touch and out of her mind!

Sorry to hear Jimmy, the company I'm leaving (not laid off) is already doing tons of layoff's. It looks like the international markets are judging our country and our leadership by this stimulus bill. Six year low on the Dow alone. As we enter the third year of this congress, the picture of US governance could not be more dim.

Oh well, welcome to the seventies all over again. Time to tear down your global business and work local until the government collapses in stagflation again and someone comes in here to clean up their doo-doo.

[puros71]

I got layed off from my work in August 6 months ago. I dont blame Obama, not even Bush. This shits deeper than that. I happend to like Pelosi.

Semper Fi

[Jimmy2]

Nancy Polosi is the reason for the divide in the house she is a snake and has made my party even worse with her empty promises.

It is clear that Nancy Pelosi's reign as Speaker has been an absolute disaster for the Democratic party my party and for the entire nation.

She is a cancer and there is nothing to like about her i hope my party or Prez Obama wakes up and gets someone who is in touch with Dem voters to replace her.

I loved it when she left to see the Pope and not being around to answer all the Questions and her broken promises pertaining to the bill just passed. COWARD !!!