Obama admits "the whole point" of "stimulus" is govt SPENDING

[truthinstyle]

So Obama is a Socialist? We knew it as soon as Roberts flubbed the oath of office for the Presidency! Anybody but Obama to stop the Marxist and Communist from taking over the US! Vote Conservative Republican and we wil renew America! Stop the Libs from destroying our beautiful country! Their hearts are good but they suck at reality! Vote the grownups back into office in 2012!

[johnnycmajor]

Do us a favor O B O M B M A pack your cloths and just GFTO out of the White House, do not let your ass hit the door on the way out.

Obama an epic Fail.

vote Ron Paul

[hookalakah]

"The stimulus only stimulated Chris Matthews' leg." ---Congress of Racial Equality National Spokesman Niger Innis to Sean Hannity, Aug. 18, 2011

[iluvpoliticzz]

QUESTION: Can government spend money better than WE THE PEOPLE can? The answer: NO!

[dayvconsir]

You go Obama, that will make the capitalists happy! I can't think of a more full diven attack on socialism, giving hard earned tax dollars to the wealthy elite. A socialist president would have found ways to redistribute wealth.

[UncleSack]

This guy isn't even qualified to run a Taco Bell, let alone be President...

[StanShazzam]

ProudToBe Canadian apparently is a little out of touch... Or just another disgrunteled republican looking for anything Obama related to complain about.

I am afraid the only joke here is we have to explain the joke to you.

You even state, stimulating the economy is getting people to spend money. Thats what the plan does. It creates tax cuts and tax breaks to increase money in the tax payer's pocket so they can... say it with me... "SPEND MONEY" via buying a new car or home, etc.



[ProudToBeCanadian]

@StanShazzam  -- Oh dear. How delusional. Now that Obama's massive government deficit spending has utterly failed and has actually threatened the economic future of America writ large, Obama's emphasis is and always was on TAX CUTS, now, see folks? It is and always was to get PEOPLE to spend their cash... See? That multi-TRILLION-DOLLAR government spending program is an illusion. That 13 TRILLION-dollar debt is not really there, folks.

I'm the one who's out of touch! (And "disgrunteled"!)

[ProudToBeCanadian]

@StanShazzam -- U.S. economy loses 125,000 jobs

"Employment in the United States fell 125,000 in June after a drop in federal census workers and a smaller than expected gain in private hiring "

--National Post July 2 2010.

"29% Say Stimulus Plan Helped the Economy, 43% Say It Hurt

Just 25% of voters ... believe the economic stimulus package created jobs and voters are counting on ... business owners more than government officials to create the jobs needed"

-- Rasmussen Reports July 2, 2010

[wrongway0566]

what a f---in idiot!!!!!!!!!!!!!!!!!!!!!

[m8s4lif]

Question! What is the Pres. trying to stimulate, government or a capitalistic economy? Capitalism is what runs a free society's economy. NOT government. You know, people making money by making and selling goods, and or services. A free society and communism operate differently. Does the President know the difference? Makes me wonder.

[nathanj37]

I'm proud that you're a Canadian too -- one less shithead in America.

[Instantrebate1]

Socialism and then Communism. Beautiful! This program is just not working dude!

[AntiVenomFangX]

@Instantrebate1

it is working..... it has been working... have you stopped paying atention to current economic events?

[nojoke54]

The Bush stimulus did nothing. Most people spent the money on debt. We may as well just given 80% straight to the lenders. You're philosophy really is conservative...Do nothing and wait. Where as Obama is actually doing something. Walk the talk.

[DigitalAquarius]

Check the GDP.

[BobTheTERROR]

Nice video. Seriously, not sarcastically.

[MA453]

He didn't ''admit'' it you moron, a stimulus IS spending the stimulate the economy. It obvious, that's why ppl were laughing.

[ProudToBeCanadian]

Stimulus is spending? What if they cut taxes by 1.5 trillion dollars? Wouldn't that instantly stimulate the economy?

Only provincial, far left-wing-thinking folks think government spending is the salvation of all problems. The sensible set agree that free citizens keeping their own money, unleashing the genius of American free enterprise; smaller government, less meddling, less social engineering, reduced nanny-statism, are but a few of the several examples of "stimulus".

I'm such a moron.

[HaleFire7]

Omg you conservatives are so dumb.....

To get out of this hole we had to dig deeper, don't you get it!?

/sarcasm

You sir are correct in every single way, its the way this country was meant to be run. This spending was just another way to expand government power. No longer are we a capitalist country, its just sickening.

[contrarider2]

@ProudToBeCanadian We did cut taxes. Taxes for are lower for the overwhelming majority of Americans under Obama. Also, the "genius of American free enterprise" put us in this mess to begin with. You are actually right to call yourself a moron.

[xtreme1002003]

ProudtobeCanadian, you should be proud of the fact that you don't have to deal with the kind of bozos that we Americans have to deal with.

[was4dem]

Ah-Bummer!

Stimulate or Depress!

Remember, if democracy falls here, there's nowhere to run to. Now, you'll get a chance to live and be stuck in one of those "other" countries. Pretty excruciating!

[Vidmon101]

So you seem to think someone else would have done something different?

You are so blind to the TOTAL issue. Do not just spew talking points made by republicans to get your acceptance so they can stay in power and take all your money in ways you obviously have no idea about. Because republicans have had the majority for 20 + years of the last 30 and this is where it all ended up!!! Do some ACTUAL research instead of sniffing the hind end of FOX news. Give me a break.

[snuke37]

Um, you are wrong on so many points. To claim no matter what that this would happen is stupid. Someone else WOULD HAVE done something different. Instead of creating a democratic slush fund out of American tax dollars, someone else may have been a little smarter. Bigger government is ALWAYS the problem and Obama has now made it huge. Well done, idiots.

[FreeAgain2]

In case you have not seen the Burning Down the House vid on the housing crisis - go, see -

This STIMULAS SPENDING does not fire up Job Creation jsut more or the same. Now if we could CUT TAXES (a stimulas- NO?) and get more money to those who cut paychecks - perhaps . . . .

[kamak894]

I've been complaining about Obama's wreckless economic practices so many times on YouTube. All I can do now is just post the time it is until Obama's 1st (& hopefully only...) term is up ... 1383 days, 16 hours, and 18 minutes.

[Kroger43]

The theory behind US government is not displayed well in its leaders as much as in its workers.

[ArtThroughtheAges]

I guess I miss your point, but, now I understand you better.

You pick and choose to make a point from behind an "organization" like FOX?

HA!

Let me make a wild guess here. You made money from the soft timber being sold to Kimberly.

You hate it that gays can get married in your country.

You hate that pot isn't criminalized through ALL the provinces.

And you hate that girls can go topless as they please through some of the Provs.

[CanadianCalabo]

glad to know our economy is doing better than theirs.

[bnelms22]

Mr Obama why dont you write a check that you cant pay and see how your household runs.

[THEREALTSPS]

Canada sucks

[CaJeffO]

Don't ya get it? Our Federal Deficit is $10.8 Trillion (& we have unpaid remittances of $43 Trillion for SSI)

$54 Trillion Dollars? Yep.

In 1981 The Federal Deficit was only $997 Billion. In only 27 years Congress has increased America's Federal Deficit by 5,300%

2008 Budget Deficit $410 Billion

Debts 4 Illegal immigration $338 Billion +

(Cost of Wage devaluation, crime prosecution + Costs to crime victims not included.)

We can't afford the illegal immigration crisis!

[roscoe85cj]

The 'stimulus' is riddled with liberal pet PORK projects ... none of which will create but a handful of jobs for notable fucktard liberals ... and, after the moron has appropriated and spent another 3 TRILLION of our (conservatives who have JOBS) tax dollars and we're at 30% unemployment, he can still blame it all on Bush and the moronic libdinks will still stand and cheer ...

solution = if you count 2 digits of your IQ to the left of the decimal point, you get to vote !

[MissMisunderstood11]

I asked THE EXACT same questions when I heard this speech live (on tv) in America. . .God Bless America she needs His blessing!! signed; misunderstood in America.

[BeantownJim]

keep posteing these vids plz ty

[BeantownJim]

im thankfull for this guy posting this because the american people especially democrats have their heads up their asses

[rqqtsman]

proud to be canadian is a d**k. if you are so proud why are you even care what the SUPER POWER OF THE WORLD IS DOING.i guess if you say it enough you will start to believe it.

[CanadianCalabo]

We like to know what our BIGGEST TRADING PARTNER is doing. And if your economic situation doesn't change, you won't be a super power anymore. Also, nice grammar: "...why are you even care..."

[thetruth8431]

this guy is a scumbag.

[BeantownJim]

hes a dam socialist communist driven by kennedy and co

[Jake7401]

If you're Canadian, why are you commenting on the US economy? It's non of your business. The US economy has no effect on the Canadian economy. Don't touch your "Window$ Movie Maker" again, unless you're editing something Canadian.

This stimulus bill, is "the whole point." Maybe you should read some US economic books. Canadian economy is different than US economy. US spending won't just all go to China, that's a stupid statement, you republican.

[guntheria]

no seriously Obama I don't think you get it. We know a stimulus bill is a spending bill, that's why people are pissed, that's the point.

[guatay]

If the stimulus is a spending bill that is okay with dems, then why the upheaval over the CEO bonuses? Afterall, those bonuses equal spending, which according to dems, is good for the economy. To dems, spending is spending, or so they say, and according to dems, it doesn't matter whoes pocket it goes into, or does it? How do you spell spending? h-y-p-o-c-r-a-c-y.

[fangorn23]

spending by the government is to build jobs. most of them will be jobs like repairing roads, bridges, upgrading buildings to new energy standards ect.

the CEOs were using tax payer money the got from the bailout to LINE THEIR OWN POCKETS. its not spending, its they taking my money and putting it in their pockets.

[ScottClifton]

But every $1 taken will be spent by the government, as opposed to being spent more efficiently by private consumers. The result will be an economic DOWNTURN, because every $1 used to "create jobs" = $1 taken AWAY by other job creators and potential employees.

If taking away money from citizens really "created jobs," then the government should just ALL citizens' money away and spend it to "create jobs." Isn't more of a supposedly good thing better than "just" $1 trillion?

[miketwo345]

Um.. Yes. It is the point.

Weak economy = not enough spending is happening. There is supply, but little demand.

Strong economy = people are spending money

So the whole point is to spend money to stimulate the economy. Increase circulation.

What about this concept is hard to understand?

[ScottClifton]

Spending is only a RESULT of a strong economy, NOT the CAUSE. If this were really true, then it would be great for your family budget to max out all your credit cards and go totally into debt as far as you could go.

SAVING is what creates a strong economy in the long run, not spending. Once again: Spending is ONLY a RESULT of a strong economy, not its cause.

Simple reality, unknown only to government bureaucrats (or maybe it IS known to them, which is even more disturbing).

[jvaleda]

It's funny how people forget Wall Street is a global entity when it comes to national politics.

If you capped executive pay, you relocate your executives to london, HK, Tokyo, Dubai, etc.

of the 230 trillion dollars currently held within the exchange, i'm curious to know how much of it is american.

[ford50stang]

I must say, living near New Orleans post Katrina, the Government DID NOT bail out Entergy electric company which went Bankrupt due to a NATURAL DISASTER. Yet we bail out idiots because, they are IDIOTS. Also, the Government not bailing out Entergy proves the point of why Government should stay out of business. Entergy bounced back quicker than it would have if it were bailed out. Same should go for the economy.

[CLONG3]

if the stimulus is needed so bad, how come we the people don't receive it? or we can give it to all the shitheads who already blew it! I'm sure everyone knows like ponyboy 316 that spending drives the economy. WHY would anyone want to hand it to people who've already shit theirs away?I promise we will SPEND it just fine. This is the fleecing of america pure and simple. HOW DO YOU LIKE YOUR CHANGE NOW SUCKERS

[xenoloco]

Ummm... spending money on roads, electricity, public services... that creates jobs. Jobs put money in peoples pockets who need jobs. Those people then spend money in the economy... lifting it back up.

"Teach a man to fish", ya know?

Give money to banks and they buy $50,000,000 jets and go on company retreats to fancy resorts. That stimulates what, exactly?

[ScottClifton]

Point taken: No tax money should be given to banks or other private businesses. BUT...spending money on roads, electricity, public services, etc. only gives SOME people jobs by TAKING JOBS AWAY from others (which the tax money would have paid for). Money is taken from the more efficient (private business) and given to the less efficient (if anyone thinks gov't is as efficient as private business, we can't have a sensible discussion), which creates a DOWNWARD effect on the economy.

[enantiodrome]

Because "We the people" are ignorant sheep who will run to the nearest Wal-Mart with our "stimulus money" to buy tons of useless Chinese-made garbage that does nothing to stimulate the economy and increases our sick, diseased, Kissinger-created symbiotic and cancerous relationship with China. What did you spend your Bush tax rebate on? If you spent it on anything other than something American-made (nothing is made here anymore), then you flushed it down the toilet. (Which empties into China).

[atomicbilly]

Tax cuts are not the end all be all to every problem we face. It's the same damn broken record that made me leave the Republican party. Read some history. Government spending on projects like the Hoover Dam and highways are what got us out of the Great Depression.

[AleezaChocolat]

No kidding. It's like people have never heard of John Maynard Keynes' grand idea of government spending to jump start a flat-lined economy, or how spending on building projects (and WWII, in which people were put to work building tanks, etc., so it's still government spending on building projects) is what got us out of the Depression.

[ScottClifton]

Keynes has always been dead wrong. Every $1 taken by the gov't to spend is $1 spent less efficiently than the private citizen. If it really works, the gov't should just take ALL our money and spend ALL of it for us.

BTW, the U.S. economy did NOT recover until *after* WW II ended. You don't save the economy by taking 16 million mostly productive men out of the nation and paying them (taken out of the even fewer taxpayers left) to bomb things.

[OlivierdeAthos]

"BTW, the U.S. economy did NOT recover until *after* WW II "

Again, the Austrians are the only school that claims the Depression lasted until 1946. What metrics are you using to call the end of the Depression 1946? Per capita GDP? PPP? Industrial output? Employment? Farm prices? Hopefully not by comparing the Dow to the 1929 level, when it was at the height of a speculative bubble.

[ScottClifton]

Dead wrong. For every $1 the gov't takes spends, $1 is taken from more productive, private enterprise projects (work that's really needed, not just made up to appeal to certain voter blocs and groups politically connected to who decides where the spending occurs). History? Read Flynn's "The Roosevelt Myth," which among other accounts, proves without a doubt that FDR had absolutely no idea what he was doing, and tried junk like the Hoover Dam, Tennessee Valley Authority simply to buy votes.

[enantiodrome]

Roosevelt knew exactly what he was doing, because he was taking direct orders from the internationalist banking cartels that run the world since the days of the British Empire. Much like every succeeding president since him (except for that one...you know, the one they didn't like...but his brain is still missing). The party is over, kiss it goodbye...Orwell will be vindicated soon enough. Obama is the man for the job, just as the Clintons and Bushes were before him.

[PleaseActNow]

Fight to stop this trillion dollar stimulus!

nostimulus....

Call your Senate office the switchboard number is 202-224-3121. go on line and get the number for your senator's local office in your home state.

DO BOTH!!!

"No Stimulus"

These calls matter!

[sugarugby2]

The whole point, Mr. President, is to enact tax cuts and spending measures that truly stimulate the economy, McCain said. There are billions and tens of billions of dollars in this bill which will have no effect within three, four, five or more years, or ever. Or ever.

[ponyboy316]

Hmmmm. What drives and economy? Could it be.........SPENDING? If hte people dont' buy anything, the economy goes into the toilet. A stimulus is meant to help people save money or earn more of it so they can spend it and drive the economy.

[ScottClifton]

One last time: Spending itself does NOT improve an economy; it's a RESULT of a growing economy. What do you do, ponyboy, if your household budget is tight? Spend, spend, spend to create prosperity?

The idea is ludicrous on that scale, and it's ludicrous on a national scale, too. If spending, spending, spending really worked, then the government could just tax and spend citizens into a paradise.

Never has worked, never will work. Austrian economists debunked Keynesian theory decades ago.

[OlivierdeAthos]

"Never has worked, never will work. Austrian economists debunked Keynesian theory decades ago."

Only to other Austrian economists. There's a reason why the Austrian school is a minority, heterodox school, and most professional economists don't accept it. It has a large following among laymen libertarians, however, because it's so simple to understand. Sort of like the way Freudian Psychoanalysis is popular with pop psychology enthusiasts, but not with professional psychologists.

[Aechronia]

Do us a favor and point us to some good sources debunking Austrian economics. Why should we discount this "heterodox" school? Keynes and his "animal spirits"?

Disprove the Austrian School principle that inflation of money supply doesn't help the economy. Pics or it didn't happen.

[adjinwis]

Dude.. he is right .. what do you think a Stimulus is ... dill hole ... Its ment to simulate the economy .. it's like jump starting a car ... please.. grow a brain ..

[Mithrandirself]

Go back to Canada.

[lovejangie1]

President Obama isn't against Freedom of Speech. He's against 'doing nothing' while the country slides toward depression. He welcomes criticism, but the media hasn't been reporting the complex facts regarding the stimulus.  The media has been cherry-picking items and taking them out of context. Then, they give unequal airtime to the bill's critics. The fact is everyone isn't going to agree, but something big had to be done.

[lovejangie1]

Everyone isn't going to agree on how to fix this massive problem. The economists are split. However, most economists do think something big needs to be done. Inaction isn't an option. President Obama (after consulting with economists from both sides) is trying to address it using this package as a first step.

[ClassicFIHD]

Last time Obama said, "that's the point" he was talking about inhaling pot.

[ponyboy316]

Yet it's the Republicans who sound like they're on drugs.

[cr8f]

Republicans hate the fact that tax cuts create $1.02 and food stamps create $1.73 in spending for every $1 spent.

Can we create more bombs? That's what republicans like.

Republicans are driving their party over the cliff. No great loss.

[TrueBlueCrusader]

This is an idiotic video. As I said in the video response that was unsurprisingly denied (on my channel.)

Tax cuts are inneffective stimuli and tend to only increase deficit spending unless they're accompanied by stiff spending cuts, which wouldn't get us anywhere.

To get money to people through a tax cut worth anything, you'd have to have an ENORMOUS tax cut, that wouldn't be effective in the first place because people would save it.

Government spending is superior in every war per dollar.

[AnnOnimousiAm]

Obama mocks Americans who say the world won't collapse if you trim pork from the $1,000,000,000,0000 bills and gets cheers from a room filled w/Democrat Conggressmen lining their pockets with our money. I'm taking in people who have lost their jobs while these guys spent tens of thousands of our dollars on this retreat. We didn't vote you in to laugh at us & waste our money, Barrie Antoinnette, you arrogant bastard.

Open your eyes to the change. Call your senators to stop government waste!

[Camthaleon]

It's not waste, it's progress. Obama is genius and the people that fail to see his views are clearly ignorant. It is because of THOSE people that the world economy is a disaster. Because they refuse change and are stuck in their conservative ways. EVOLVE with the times!

[Zwikster]

genius? ahahaha.

the whole reason why the economy is toast is because of OVER spending in wars. They are raping the taxpayers and giving their money to the banks. Just look at Obamas top campagn contributers and you'll see that he is owned by the banks. -Goldman Sachs, Citigroup Inc, JPMorgan Chase... This is why he voted and urged the first banker bailout even though the PEOPLE were protesting and saying NO.

Take a look at Gerald Celente, Peter Schiff, Max Kieser, Vision Victory.

[l33t187]

lmfao a genius? Spending money while we are in a defaecate, and the whole reason we are in this recession is because we borrowed and spent money. spending money isn't going to solve anything, it's going to make it 100 times worse. It's common sense. Ron Paul 2012

[pickedaname]

As usual, Joel, thanks for the post.

Yet another clip revealing the ignorance of our prez. Fortunately, there is a new, larger generation of young conservatives entering the arena who will, in due time, counter the very misguided choice that the US made in Nov..

[TheNavigateur]

Do some of you people think that money from tax goes straight into the toilet? It always ends up somewhere. You only talk about "waste of money" in your own small window of budgeting, not in the big picture. The big picture is about how people are living.

[captaindiesalot]

Navigateur:

Yeah, sure. The majority of the spending package does not even get spent until 2010 - 2013. Some stimulus. Look at the CBO report on the spending. It's unbelievable.

Sorry, this is not a stimulus bill, it's a PORK BILL!

[tractarian1]

The big picture is socialism, and that is where he wants to take America! I think he was drunk as hell when he made the speech, he must have had him a few drinks on his flight on Air Force One! What a bozo we have for a president! The real Drunk!!!

[carcabe]

Taxes and government spending take money out of the productive economy and give it to the government that manages to keep 70% for it's own bureaucracy. The rest of it goes to destroying people's live by making them dependent, removing incentive, and destroying their self-esteem by making them dependent on stolen money. 'Dependence is not hope but despair and servitude.

Fact" Spending Bill

Opinion: Stimulus Bill

[MadBadVoodo]

Five Stars!!

[axok92]

Exuse me - letting the Govt decide how to spend my money will not "Stimulate" its "Spending" to Acorn and his buddies and his programs - Stop drinking the Kool aide and study history

[RyanUTAustin]

Wow, poster is obviously ignorant.

Stimulus is an immediate injection of capital into the economy to spur economic movement / growth. Tax Cuts are a tactic that is placed in a federal budget. Take a class / read a book / just do something before you make an ass of yourself.

[captaindiesalot]

Ryan:

You're a fool. Tax Cuts enable the producers to keep more of what they produce. They IMMEDIATELY reinvest, spend, or give it away. This is more efficient than government stealing money and spending it on their own programs that serve a small group of people.

If you want Socialism, lets go all the way and just screw the capitalist system now. This way, we can die quickly rather than from a slow death.

[ScottClifton]

"Stimulus is an immediate injection of capital"? Sounds so neat and tidy, when you fail to understand that an "injection of capital" comes from 3 main sources: (1) STEALING IT from taxpayers, (2) PRINTING IT (which devalues paper money's value = inflation), or (3) BORROWING IT.

If "injecting capital" really works, why don't we do this every year? Every month? Every day? Because it doesn't work; it's just to pay off the Dems' politically connected buddies and voter blocs.

[sleeplesseye]

Obama is correct... and the comments of the poster are ignorant.

But hey, you're a Canadian. You should tend to your own failed conservative leadership, and leave American politics to us!

[Raycheetah]

Obama is a naive fool, and left the details of the "stimulus" package to the merry band of pork bandits in congress, rather than retaining any oversight... Or do you believe that the package as presented is a sensible use of taxpayer money?

And we're very fortunate that we still have friends in Canada and other nations; this whole mess started in the US, but they're being affected, too. =^[.]^=

[ponyboy316]

What is the number one stimulus? What drives an economy more than anything in the stimulus bill? Answer that, and you might have an opinion worth listening to. I know it and I'm Canadian. Do you?

[Maserati7200]

I agree. I don't think its right to waste hard earned tax payers money.

[ponyboy316]

How do you know it's a waste? He hasn't spent anything yet. If it works, will you still consider it a waste? And if you would, should you be listened to in this debate?

[ScottClifton]

It's a waste by definition. When "the government" spends, money is taken away from the productive and given to the unproductive. Every dollar spent by the government means one less dollar that producers in the economy can spend. It only *looks* like it's effective because the average Boobus Americanus *sees* a road being built with economic "stimulus" money, but doesn't see the sweaters, shoes, computers, houses, etc. NOT being bought because the money was siphoned away from consumers.

[AntiVenomFangX]

@Maserati7200

ok, it is 2008, the recession just hit, the downturn in the business cycle has begun..... how do you combat deflation????

you dont know how, all you can do is claim the the govts money is yours, when in reality this is a republic, not an anarchistic democracy.