Stephanopolous and Krugman, what a pair of lying, incompetent jackasses. Warning: If you believe anything they say, you'll be dumber for having watched this video.
Our leaders keep mentioning "Middle class' seems they did forget there is a "Lower Class" that would love to make UP the ladder TO the "Middle Class"... I am one among many. Still think they need to aim lower for the stimulus. Maybe help some of these parents with 2-3 jobs(like me)be home with their kids instead of being low rent slaves of some corporation. This economy has just spawned a new generation of the poor...
Stop calling it a stimulas,it was no such thing! 300 MILLION went to hollywood producers to buy film,5 BILLION went to that fraud group acorn,another 300 million went to study std's,how the hell does this stimulate the economy?The spin was "we have to pass this now or the country will fall into the ocean"!Democrats didn't even read it,and he still probably haven't.That bill was nothing but a political payout to groups who supported the idiot,yours and my HARD-EARNED tax money!
krugman beliees that if we buried paper money in bottles deep underground then the jobs created by digging it back up would be benewficial to the economy, i am not making this up.
LOL! A clown who told everyone to lose their money in his fund? A guy who said hyperinflation and soaring gold and foreign stock would crash the economy? He overplayed his hand and is the kid who cried wolf. Both he and Krugman predicted the housing bubble, aside from that Schiff has stepped in a lot of shit and hilariously wrong predicitons. While Krugman also predicted the Bush deficits and the tech bubble. They are not even close sorry bud.
So are you agreeing with Paul Krugman? You want to print money out of thin air and borrow trillions of dollars we don't have to stimulate the economy and bailout banks?
Words too big for you? Listen it was already pretty clear you don't have great economical expertise. Which is why I would advise you not to get too excited and ideological about it because you don't know what these men are saying.
As for the idle capital, in a steep recession demand falls very sharply leading to investors slashing production/investment. The fall in investment is the extra idle capital. I assume you do understand the concept of bonds so I'll leave that one.
This recession means investment has collapsed, because demand has collapsed. That means there is a lot of capital just sitting there that in normal boom times would be invested in the economy. This capital now buys bonds en large (because bonds are the alternative safe haven to stock) which is how we finance the debt. So basically the shortfall in investment is being invested via the public. So no it's mostly not out of thin air.
This is what you sound like when all of your information comes from MSNBC. Capital, in economics, means production goods, or higher order goods, it's not money. We don't have any "idle capital," what we have is a market correction which has manifested itself as a credit contraction, or credit deflation. All this means is that all of the fake computer dollars have vanished. If we don't allow the correction to take place, and continuously pump "capital" into the economy, milk will cost $100,000.
Money is liquid capital. With Idle capital I mean both money that isn't being invested and people who aren't working (who normally would). You don't know much about econ and just drum the party line it seems. Only explanation I can give why you would give a false explanation to disprove something I said.
It worked for FDR? Interesting, I guess that makes sense if your definition of "worked" means a 13 year long depression with 20% unemployment in 1939, and a depression within a depression in 1937 and 1938. Not to mention the stock market didn't regain its 1929 level until 1954. Liberals have pretty low standards.
Yeah very interesting a 13 year run of 9% annual inflation adjusted growth, a record unmatched by any president. Unemployment went from 35% to 15% (in 37) back to 19% again because FDR listened to people like you and cut spending and raised taxes to combat the deficit (which was 40% of GDP in 1932 under Hoover and stayed there until 1941 with WW2). With WW2 massive public spending the deficit soared but so did the economy and unemployment was cut to 2%. Economically a fantastic record.
"back to 19% again because FDR listened to people like you and cut spending and raised taxes to combat the deficit"
Why did the economy explode in the 50's when Eisenhower cut spending? The Keynesians warned him, told him it would cause a depression, and yet it lead to the second longest and most robust period of economic growth in our history. FDR, on the other hand, thought it would be a good idea to burn tons of food during a drought in order to increase prices for farmers. Thousands died.
Actually the economy did horrible under Eisenhower. One of the slowest growth we have seen (comparable to Bush Jr and Sr). I don't blame any policy for that though I guess the massive boom years of preceding him were bound to have a little correction, but of course after Eisenhower they went right on.
Yes, the massive boom period before Eisenhower, the great depression. This is the kind of insanity I'm dealing with. The group who praises a man who burned tons of food during America's worst drought in history, in order to "stabilize agricultural prices." Complete revisionist nonsense. The great depression lasted for 13 years, the stock market did not recover until the 50s. Unemployment was 20% in 1939, and there was a depression within a depression in 37,38.
"Yes, the massive boom period before Eisenhower, the great depression. This is the kind of insanity I'm dealing with."
Yeah the insanity of a little something called GDP. GDP growth was 9% annualy during FDR, almost the same during Truman. In fact by the mid 40s the GDP level actually beat the fake bubblecious trend line of the late 20s.
Yeah no wonder, the stock market bubble CAUSED the great depression. That's like whining about the NASDAQ in 2007. But why the hell would you look at the stock market as a derivative of the greater economy when you could look at the thing itself? GDP? That's a rhetorical question you're obviously a bullshit artist.
Krugman's article merely criticized Greenspan's shifty position on the housing boom. Greenspan said it was a bubble, then he said it wasn't. Krugman said that there "may be a recession." This is dramatically different from the Austrians who predicted this mess exactly how it's playing out. When the stock market is at 2000, and unemployment is at 30% with 1000% inflation, I'm sure you revisionists will be able to pin it on Bush like you did to Hoover. And Keynes will somehow still haunt us.
Capital is not money in economics, for the last time. Capital refers to the factors of production, the machinery, tools, ect. We don't have any "idle capital." Nor do we have any money sitting around; we're having a market correction, all of the fake internet dollars have been deleted. And the banks are no longer able to lend at artificially low rates.
And I'm unable to find any article, or any video, where Krugman predicts the mortgage crises. Not one, the earliest date was oct.13 2008.
"LOL! A clown who told everyone to lose their money in his fund? A guy who said hyperinflation and soaring gold and foreign stock would crash the economy?"
Wow, pretty awkward.
"Both he and Krugman predicted the housing bubble"
When did Krugman predict the housing bubble? please provide a link, any link will do.
"When did Krugman predict the housing bubble? please provide a link, any link will do."
The fact that you're ignorant of this tells me you shouldn't be judging or opining about Krugman. Google is your friend, this is very easy to verify and not an obscure fact at all.
You new-Keynesians are pushing this lie about Krugman predicting this mess; which is a complete joke. Krugman is nothing more than a wannabe politician, the man knows nothing about trade cycle theory, whatsoever. Time and time again your theories are destroyed, obliterated; the Austrian school warned Fisher in the 20s that there will be a depression, he didn't listen. The Austrians told us that the long-run Philips curve is a joke, no one listened; and they saw this coming, again, no1 listened.
You've made ludicrous claims about us supposedly losing 20% of GDP in the 20s and recovering it in the next quarter and you don't know what the definition of capital is in economics. Neither do you know anything of economic history when it comes to development of GDP as demonstrated by you touting Eisenhower as an example of great GDP growth and claiming growth under FDR's term was less than 9% annually inflation adjusted.
Why should we take your tired pathetic copy-paste Austrian BS seriously?
Do some research, the 1920's had a major international depression which destroyed Germany, Japan, and nearly the UK. It hit America as well, but Harding's hands-off policies assured a quick recovery.
The fact that you deny the boom of the 50s, which lasted until the early 70s, completely discredits anything you say. In fact, you were discredited the moment you said capital was money.
"The fact that you deny the boom of the 50s, which lasted until the early 70s, completely discredits anything you say. In fact, you were discredited the moment you said capital was money."
You've so far managed not to get a single fact right. A complete bullshit artist.
Yeah I should have known. It's always painful to see people so obviously, pathetically and knowingly bullshitting themselves. I've blocked the guy though arguing with someone like that is just frustrating and it's a one-way street.
@bonfirejovi No your wrong.Keynsianism was a failure and a anglophile invention.It´s sorry to see you young englishmen fall for that economic disaster in pure patriotism.You should read some Milton Friedman like Essays in Positive Economics,that debunk both the Austrian and Keynsian crap.
@bonfirejovi No your wrong.Keynsianism was a failure and a anglophile invention.It´s sorry to se you young englishmen fall for that economic disaster in pure patriotism.You should read some Milton Friedman like Essays in Positive Economics,that debunk both the Austrian and Keynsian crap.
@bonfirejovi No your wrong.Keynsianism was a failure and a anglophile invention.It´s a sorry to see you young englishmen fall for that economic disaster in pure patriotism.You should read some Milton Friedman like Essays in Positive Economics,that debunk both the Austrian and Keynsian crap.
@treddas851 In all fairness they are not actually implementing any of Keynes' real remedies. All that the government have done is reversed Okuns law (1% employment = 3% growth) and targeted growth in an attempt to reduce unemployment. Keynes strongly advocated that spending should be directly used for targeting the unemployed with jobs, not by just giving them money as they are already uncertain about the future. As for Milton Friedman, good economist but he contradicts himself on occasions.
@treddas851 Milton Friedman specifically says in his permanent income hypothesis that if people were given some transatlantic income they would not spend it as they know they cant sustain their expenditure into the future. But then he uses the helicopter analogy where if money was dropped from a helicopter people will spend it..... contradiction right there.
You honestly do your name little honor. You tell me what's wrong with 9% annual inflation adjusted growth? Or 8% if you want to keep it pre-war (not sure why the war investment was a larger manifestation of Keynesianism than the New Deal). This compares with say 5.6% for a LBJ?JFK or 3.3% for a Reagan or 1.5% for Bush jr, Sr and Eisenhower, just to give you some context.
"You tell me what's wrong with 9% annual inflation adjusted growth?"
First of all, it wasn't 9% annual growth; in 1937 and 1938 we had a depression within a depression. But even if this was the case, that;s a pathetic growth rate during recovery. In 1920 we lost 20% GDP in one quarter, and made it up in the next. This is why they're called "recoveries." The great depression was "great" because the recovery took forever. Thus 20% unemployment in 1939.
public sector investments are usually made for political reasons, popularity, posturing, and often outright ignorance. yeah, the government needs to do A LOT RIGHT NOW.. it needs to do A LOT of getting out of the way, cutting itself back down to it's pre new deal size
the private sector will ALWAYS make better investments than the public sector (government) for three fundamental reasons that NEVER change because they are based on hardwired human behavior. 1) economic calculation 2) economic incentive 3) economic consequences. the government has little ability, little incentive, and little to no consequences when it fails in its spending programs. Private sector investments are ultimately made based on consumer demands, whereas ....
Yeah but private investment is not a policy choice. We would love to wave our magic wand and say 'privates invest!' but we are in a big self reinforcing slump right now.
So private or public spending is a false choice, it's temporary public spending or nothing. You're with Hoover on this, fine most of us are not.
hey dragrace- re: your comment regarding the Reps calling the stimulus bill pork- they were referring to building new roads bridges, etc.. well maybe the money that went to Amtrack but that's understandable in my opinion since Amtrak has NEVER been profitable and sucks milliosn of $ each year! They were referring to items such as STD prevention - total BS!
Is the interstate profitable? Or the billions of subsidies for airlines who were bailed out in 2001? Amtrak gets scraps. An eastcoast midwest HSR (real HSR) would be perfect right now (+California and Texas triangle and you have a world class system).
no the interstate isn't profitable ,however it isn't privately owned either so not comparing apples to apples. well in theory it is supposed to be privately owned...
One thing I dont understand is that Republicans can spend by some estimates 1.5-2 trillion on a war in Iraq.
But when we get a president that wants to spend money here in the states for our own use (bridges) (railways) (roads) (infrastructor) the republicans call it pork.
I guess it's called (patriotism) to spend it overseas on people who hate us and dont want us in their country. Call me a (socialist) but I'd rather see my tax dollars spent rebuilding this great nation. God bless the USA
What is needed is a REAL Capitalist Party. Both the Republicans and the Democrats have screwed the economy with policies that are totally against the capitalist structure.
If anyone who listens to Krugman believes he's right on government spending, I have a bridge that they can purchase with their share of the stimulus package.
Krugman is a redistribution of wealth socialist and is convinced that only the gov't can get us out of slump. Donaldson is right - give people the money not the government.
Don't get it do ya! If the govt wants to stimulate the economy why give stimulus money to banks that hol it or car companies that pay off debts. Give the stimulus to regular and real taxpayers not the ones that pay nothing. Then the money will actually be spent and increased spending is what makes the economy go. Taxcuts are OK too but only to those that actually pay.
We have a home foreclosure rate cause by congress backing subprime lending. Now those banks who weere praised for helping lowincome people are being called Predatory lenders. We can't have it both ways. The whole mission of democrats is to create dependancy. Americans have been made so fat dumb and happy that only a few americans understand how much fraud is being perpetrated by the Fed.
"As the Obama administration attempts to push through Congress a nearly $1 trillion deficit spending plan, a rebellion against the growing dominance of federal control is beginning to spread at the state level. So far, eight states have introduced resolutions declaring state sovereignty under the Ninth and Tenth Amendment to the Constitution, including Arizona, Hawaii, Montana, Michigan, Missouri, New Hampshire, Oklahoma and Washington."
Demand accountability from the Republicans. Everyone who voted NO on the stimulus should reject federal funds... and if they don't then they should stop standing in the way of progress!
Progress = free handouts? Progress = socialism? Progress = economic collapse wienmar republic style? What the fuck is your definition of progress, because the current economic strategy has been attempted in the past, it has always failed. Americans need to open up a history book.
Im not sure about Fucking up. Maybe I give them all too muc hcredit, but this economic collapse seems engineered. If the banks were left on their own to lend as they see fit. We would not be having this discussion. And only those who could afford loans would have them. Am I making sense?
if interest rates weren't at 1.5% people wouldn't constantly refinance their homes and burrow as much. The artificially low interest rates create a vast gap between people's income and their purchasing power, creating bubbles and an artificial boom. Artificial booms always lead to very real busts, especially when these fake booms are perpetuated by debt. This debt is compounded, and eventually can not be payed off, leading to liquidity issues and run on banks. It's somewhat complicated.
If that's the case, we would have to go back to re-assess every single time the Dems voted against something that they ended up being wrong about, yet reaped the benefits of that particular bill. We also need to abolish political parties. The need to keep people in any type of arbitrary group (racial, socio-economic,etc.) is just so that they can be controlled, dependent and used to keep certain ones in power.
These political parties are literally arbitrary, they have nearly identical philosophies on all matters, ranging from economics to foreign policy. They create synthesis, an illusion; it's all a giant hoax.
Many people, have seen this coming since the increased pressure by CRA, offshore manufacturing,and the allowing of illegal immigrants to suck up billions of US dollars. The problem is so compounded. Political rhetoric then confuses the dumbest of americans who instead of learning about what's actually happening, turn on the TV and forget about it
Why doesn't anybody talk about we need a new tax code. We are over taxed, the Government mishandles so much money. How much of our tax dollars are wasted, how much corruption is in the Governemnt. Why do we have so many social programs..? Might be because Americans are so over taxed they can't afford things like health care. Lets look at the fair/flat tax. Put pressure on the Governent to budget our money and not abuse it.
another thing that bothers me our rental pays for the morgue we have on the condo , we own another house out right and rent another house , we are not receiving any deals to redo our morgues ? while people the CRA and the Dem's pushed for low income loans now they are foreclosing and bailing them out ? how dose that make any sense This is the biggest joke in history
use too they would have TARED and feathered and ride people like BHO out on a rail
bigpapi255 : Millions of Americans are out of jobs because we hand over billions of dollars to countries that don't like us. We have millions of illegals draining our health care and tons more people that can work on disability. We have CEO's and higher level management taking millions from the folks that actually do the work. Were the ones paying for this shit. Theres nothing in this deal to help us, so I don't want to hear it.
open hearing into REP and oil companies defence contractors , Dem's banking and FM & FM and ACORN and defence contractors coming soon as the Dem's are stopping no wars .both DEM and REP alike have sold our sous to the devil .This bill less then 5 % has to do with putting people to work . SAYS budget finance committee . the REST is ear marks for ear marks . Another words they are not earmks yet but slated for ear mar
Nancy Pelosi ( Botox quessn ) the one that added the millions to save the red spotted mouse in CA she also made the statement " the stim is great as we have now added programs we been trying to get for years ) another words the DEMS are using it like XMASS .The thing is no DEM should be elected for the next 30 years then if they do work again t to clean the toilets at the white house .they have lost their minds
1. That red spotted mouse lie is made up. 2. Have you forgotten about the trillions of porkbarrel spending that bush had with the Iraq War or the giveaways to oil companies. You're A Moron! By the way it's "in other words" not another words. Although I'm glad you can spell such a big word like another, your boyfriend Rush Limbaugh must be proud, keep doing lines of Oxycontin off his ass you ignorant douchebag. I don't agree with everything in this bill, but it's better than anything the GOP did.
it is not made up go to fact checks . I do not lie using fact checks as it is owned by Harvard buddies if BHO but they are usual good source to check with , you are going back to bush bush
BUSH has nothing to do with BHO being transparent like he promised ,, I have nothing to do with this bill, other than being a taxpayer , so attcking me will not defnded yoru position with BHO no matter how retro it is , AKA BUSH BUSH IRAQ talk .If you taken the time to read I also stated we need
I don't see it anywhere on fact check. And don't pretend Bush was ancient history, he was still president less than a month ago remember? I see how you deleted your comment supporting the republicans so you can pretend to be independent. Nice try. I don't agree with some parts of this bill, but most of it is unemployment insurance, middle class tax cuts, and infrastructure repair. What's wrong with that when millions of americans lose their jobs, and roads and bridges are crumbling?
bigpapi255 for one i am blind I have a hard time with you tube , I deleted it because I did not come out how I Wanted it too , history on BOTOX Nancy . I can not remember but I think it was b4 GOV Davis was booted out of CA My wife and I have a rental in CA , CA was and is going broke in the middle of all this nancy BOTOX gets millions to save wet lands in BaY area , and a mouse , now the same BS in the new STIM to save wet lands in CA while my wife just got a IOU for tax return
Proof is in the pudding???? As you can NOW see, they could have passed ANYTHING since 2006 without Republican help IF they had but TRIED. But nooo.... $4.00 a gallon gas, the collapse of the stock market and all that had to be put on Bush's watch. Good old lefty politics as usual. The ride has just started it's already looking like a roller coaster that jumps off of a cliff.
Where there is smoke soon fire follows, its up to you Congress,and House, and Senate, the debate is fierce and not only in your big egotistical hands, but as you can read we are ready to do what it takes to make things right. It only takes one piece of straw to break the camels back!!!!!
milfeus5 did you hear NANY BOTOX SPEAKER she said the stimuls was great it gave Dem's the chance to pass on spending they wanted for years and years . LIK EMILIONS to saving a mouse in CA WTH ?I see buckets of tar and bags of feathers .
Hello Navyman0290 I'm not going by what the mainstream media says but deep in my heart the crux of this economic problem is this Free Trade Agreement. The mainstream media and our leaders always go around the real problem to use our own money instead to bail out our economic woes. On the news they laid off steel workers who relied on the auto industry to keep their jobs. we should be relying on other countries to buy our steel instead. We can't continue to make money from within our borders.
Have our leaders forgotten what this country the united states stand for. We stand for freedom and rights that protect the rights and wages of our laborers but yet it seems our country supports cheap labor in communisim countries, third world countries and mexico that destroy jobs here at home. I say that we the people need to make a stand against free trade and boycott all retail stores that practice this inhumanity of using cheap labor from countries that can't even support thier own families.
If this second stimulus package doesn't work causing more job losses I gotta get off my behind in protest against the number one problem which I think is the problem Free Trade. Anyone retail stores that send their jobs over to China supports communisim and their retail stores need to be boycott to prevent other jobs from being shipped overseas. You know what type of jobs are being erected in united states it seems, hospitals lots and lots of hospitals charging too much for medical care.
We all have to stand up together united on a common cause in agreement in terms of taking back our country from these incompetent leaders and analyst that have the big head because they go to some prestigious college or one day when our economy is broken and unable to repair itself both Canda and Mexico would be added to the United States. I don't want that to happen and am tired of seeing good Americans lossing their jobs because some dummy politcal figure. This Free Trade has to end
Our country is supporting two wars and on the brink of collapse yet in this second stimulus bill you say that there is a bill to spend millions of dollars to save a mouse in the state of california are you kidding me! and guess who is from california that crazy nutty woman Nancy Pelosi. I always knew that the second stimulus is just a leftwing bill to get the Democrats agenda a head start and not in thier interest to help the economy.
by passing the STIM.unless things are not controlled really soon I belive America will break up into 4 different bodies .I have not quite figured out whom will be whom but reading some of the new bills proposed by many states I am said to say I agree with you.what happened to
bho transparency ? all this shit was done behind closed doors and/ with out public being able to read the bill
Democrats better hope that Obama is not Lincoln because Lincoln led a civil war in America in which more than 600,000 Americans died and that was when the population wasn't as big as it is now.
Lincoln a good soul, freed slaves. Obama an evil soul, freeing Terrorist in Gitmo. Lincoln was known as "Honest Abe", Obama is known as a Liar. Lincoln only spend $700 while in office, Obama is going to put the country in debt for generations to come.
then we get back to being the leaders in the world for exporting food that is our power , we need t stop paving over the mom and pop farms , go to the gold standard . and besides where so much in debt who gets all the money in the END ?
Hey navyman0290 our country is in deep trouble. I think they passed the second stimulus package. If the second one doesn't work I think this is the end of the united states. I just don't get it sometimes how we use our own money to bail out our economy instead of creating manufacturing jobs to be manufacturing base as we once were to sell things made in the united states. I believe China and other countries where we get our consumer goods is crippling this country.
All the U.S. government is really scared of is keeping American Citizens pliable. If people arent at work they start noticing how fucked the system really is. Then they start asking questions. These fucks just referred to me as a consumer in this video. Thats all we are to these people. Citizens have way more power than politicians simply because we can protest and if our demands arent met then people get violent. History says so and people will do so.
Police are private companies paid by the state. If citizens are not at work there is less money that is paid to taxes which leads to cutbacks on all state funded projects,and then in turn to all federally funded projects. Already where I live there has been cutbacks on the police force and they have tried to compensate for the lack of funding by issuing more citations. This is another disturbing turn which will only anger people more. No money to pay cops if riots were to break out.
If our gov is going to spend 800 something billions to help our economy, why give it to the greedy bankers and corporations when they can give it to the families. US population is only 303,824,640. They can give a million to each family and there's still left over. People would start buying, put some in the bank, or even start a business with it. Also, that's like giving back the tax payer's money too. The bankers will just reinvest away our money for themselves.
FreeTheTruth1 problem with giving all Americans that much money would make our dollar worthless as what happened to GERMANY , this has nothing to do with the common man it has to do with huge government and paying off huge CEO to keep their mouth shut REP and DEM alike we need public hearings as far as transparency goes that BHOhas promised both bills already signed by him was done behind closed dooors
Well, if we don't want our dollars to be worthless, then we must stop printing money like there's no tomorrow. Our dollars is not even backed by gold anymore.
OOOOH....$600 Bush wasn't a conservative. He spent money like a socialist Democrap. Hell Shabaka87, I hope $600 doesn't mean much to you because it doesn't to me.
This other shit is a backdoor tax. You'll be seeing the price of everything go up...and that is a tax...dumbass.
New Jobless claims dropped in January, and US retail sales unexpectedly jumped by 1% in January. We will see what the February numbers are like next month.
Shabaka87 LMAO you forget America is fickle BHO has about a year of his BIS crook tactics left then America will hold him accountable good move by the REP not to vote for the STIM as it will not work ,. lets see how he lies and tries to blame the REP America will be tired of it and see him for what he is
Funny thing is. The most affluent communities are Blue. I'd agree to that. That way the degenerate hicks wouldnt get any of us intelligent peoples money for social security, health care, infrastructure, etc. Great plan
Shabaka87 no I look at japans in the 90 they tried it it did not work , now BHO is trying to put a spend on japan's history LMAO the guy got more BS than a BULL having Americans go into more debt to stop debt is crazy , billions going out to community organizers is stupid ACORN I see will get a huge cut to YUP once on the take alwys on the take RIGHT
I mean. The Stimulus Bill has already passed, and will be signed on Monday. We will just have to wait and see what happens. Hoping that it doesnt work is just as pointless as hoping it does.
Shabaka87 I am not hoping it ill not work I hope it works , but like i say it has nothing to do with making it work for the tax payers it has to do with huge banks , oil companies.and here one for you billions to community organizers AKA ACRN how that make any common science
This economic crisis is not just some little thing that we can hope fixes itself. If 600,000 people/month continue to lose their jobs this country will go into a depression, because most states are running out of unemployment benefits right now. Even Coca-Cola had negative 18% Profits. Nobody is buying. The Government needs to throw trillions in the game to stop the bleeding. If we have hyper inflation years down the line us young folks we deal with it then.
Shabaka87 ( then why not use the money for things that will do the job , Like OK you get any money for housing then you must prove you could have afforded the loan to begin with , then you can be bailed out . put a lot in food stamps that keep grocery stores going . put money into unemployment , health care, tax cuts . ROADS , farming green energy none for banks or auto workers .and that would be about it .
These people have no Idea how angry the U.S. really is. I believe were on the verge of riots! I lost my job because of no fault of my own along with millions of other Americans, and these bitches are balking on some 800 billion dollar plan. The war's in Iraq and Afghanistan have already cost 3 trillion dollars! There are no talks of cut backs on these areas to help our economy. You dumb bastards better watch out because if I'm not paying taxes, politicians aren't getting paid.
Great idea, milfeus5! We should all refuse to pay our taxes (didn't Geithner?)and then go storm Washington and kick all those jokers out!! This SPENDING BILL is the BIGGEST HANDOVER of private sector to government in U.S. history!! What happens when gov't takes over something? It becomes corrupt! Why are they in a rush? Because they don't want you and me to have time to read all the FINE PRINT!!!
Breaking News! 02/11/09 They've reached an agreement and taxpayers get screwed royally. We pay, they play.
Obama's "Making Work Pay" tax credit would be reduced from $500 per worker to $400, with couples eligible for an $800 credit, instead of $1,000, said a Democratic aide close to the talks. This aide spoke on condition of anonymity because the negotiations are private.
CEO's and banks robbing us blind, American jobs going overseas for 2 bucks an hour, illegal's crossing our borders by the hundreds each day draining our healh care, drug wars and a record amount of folks on welfare and disability. Not one word about how they are going to fix this shit. But I'm sure the extra 25 bucks unemployment money will come in handy buying beer and ciggs. I'm sure the banks will think of our welfare when they get our hard earned tax money to flub around on themselves again.
A spoils system (also known as a patronage system) is an informal practice where a political party, after winning an election, gives government jobs to its voters as a reward for working toward victory, and as an incentive to keep working for the party.
So, I'm sure this means that all the jobs created by the stimulus bill will be for blacks & foreigners. Since, that is mostly who voted for Obama.
Urged on by ACORN, congressional Democrats and the Clinton administration helped push tolerance for high-risk loans through every sector of the banking system - far beyond the sort of banks originally subject to the CRA.
So it was the efforts of ACORN and its Democratic allies that first spread the subprime virus from the CRA to Fannie and Freddie and thence to the entire financial system
DISASTER! No guidelines, oversight, review in the Economic Stimulus (ES) bill?!! HELP! Correct This Now Before Any Final Vote. "CHANGE" goals and directions will be thwarted without guidelines & oversight. Earmarks, targeting—call it whatever—are necessary!! B.S. to lamenting in the foreseeable aftermath!! "Trickle Down Theory" holes are DISASTER to Hope & to Change We Can Believe In. Yes to the E.S. Bill with guidelines & oversight! Contact your Congress and Senate persons today!!
THERE IS NO MENTION IN THE STIMULUS FOR THE FOLLOWING:
1. No money to finish US/Mexican border fence.
2. No money going to ICE. Seems like if ICE had more money there would be more busts at work places and this would create job openings.
3. No money going to E-verify.
One would think that with the drug wars happening along our border towns, the American people would be demanding that Obama address this issue in the stimulus package.
Yup, Trillion with a "T" filled with paybacks for all who voted for Obama - unions, ILLEGAL immigrants and everyone in between - but not a penny going to our Defense Dept.. In fact, our loyal troops are going to have to cut back $5 BILLION+ while the cronies get all the kickbacks. What a sad, sad commentary....America, we need to march and storm the Bastille!!!
Don't forget, Obama is gonna make us serve with openly gay soldiers too. You have no idea what a disaster that is gonna be. Im prepared to resign anyway.Obama is gonna get us all killed
Obama also co-sponsored legislation in 2007 that would have given ACORN immunity for any wrong doing under the Truth in Lending Act for promoting subprime mortgages.
In the stimulus theres $198 million to compensate Filipino World War II veterans for their service. Most dont live in the United States. I'm sure that the few left will end up millionaires with that much money to split among them.
What about the vietnam veterans and other Us veterans? And, there is no money in the stimulus for the US Mexican border fence. Now, tell me who Obama is catering to? The answer, "Not the American people."
1 trillion ---- 1 Million for every non-muslim American. It's time for the taxpayers who foot the bill to get rich, not just the lawmakers. Screw the honeybees and the fish, we want our millions.
200 Million ---- To finish the Mexican US border fence
300 Million ---- To depart illegals and their children
The American people could sure stimulate the economy with this type of money.
they say its only 1 percent that are pet projects but whats 1 percent of 800 billion. that one percent needs to get with the program, but that won't happen because they know the bill will be pushed through regardless. so much for bipartisanship. i see no CHANGE. politics as usual.
We are being sold out by Republicans and Democrats.....
Stop being partisan, it's destroying AMERICA AND it has destroyed our economy.
If this bill passes, go out, buy a Gadsden flag, pull down your American flag that is flying outside your house and fly the Gadsden instead.
Find it at a store, do a search online for one, tell them that Americans ARE UNITED, we are against both parties selling us down the river and selling our country out for votes.
rage1605 the thing is rage I have a felling the bail out of the BIG boys and banks have more to do with paying them off to keep their mouths shout . AFTER all DEM and REP alike have taken a lot of money form them BHO and DOOD being the two highest the crap has staked up to the top now , What happened to the day when bad companies failed , AMERICANS are being played like fools and being scared and swooned like idiots over the race card say one word against BHO your a bigot right ?
The one lady that spoke (not sure what her name is) mentioned what I understand to be a huge problem at my job. People want to buy. I have written up several deals with people with great credit who are getting turned down. It is the banks plan and simple. We have given them billions of our tax dollars and they are not willing to free up credit.
Whether you are an obama groupie or right-winged mouth piece... the stimulus package equates to about 20K/family that will be subsidizing failing business. Good money after bad.
What happen to the $700B? Now they want another 900B! why does the gov get to decide that wall street should get bailouts but main street should not? isn't it bad enough we have 2 sets of rules for tax paying? now the poor is going to subsidize 500K executive salaries? why not just forget bail outs to begin with?!
Will you favor the bill? Will you favor paying off Obama's debts? Obama is trying to scare the Senate and the American people into passing the stimulus bill because he is the one who is running scared. If the stimulus bill doesn't pass it will be catastrophe for Obama because he won't be able to pay off crooks like Acorn and the other crooks he owes favors to. Only a dumb ass would NOT be able to tell that Obama is running scared it he can't make his pay off to his crooks.
our image in the world has been dinged or damaged let me tell you to the extent that that's true people in financial institutions around the world are saying What have you done to us You've made us take on this worthless garbage paper What have you done to us What are you doing to your financial system It ain't about Iraq It ain't about the war on terror So there is Obama running around talking about how we've lost our esteem
That aggravates me like you cannot believe We're going to analyze the debate as things shake out as the program unfolds before your very eyes Of course Obama is as close to ACORN as anybody can be closer to ACORN than anybody ever seeking the presidency And ACORN went out and put their own pressure on these banks and lending institutions political correctness pressure spread this misery far and wide under the terms and definitions of things like affordable housin
In the early 1990s, reports Stanley Kurtz, senior fellow at the Ethics and Policy Center, Obama was personally recruited by Chicagos ACORN to run training sessions in direct action. Thats the euphemism for the techniques used under the cover of the federal Community Reinvestment Act to intimidate financial institutions into giving what have been called Ninja loans — no income, no job, no assets — to people who couldnt afford them.
The Woods Fund report makes it clear Obama was fully aware of the intimidation tactics used by ACORNs Madeline Talbott in her pioneering efforts to force banks to suspend their usual credit standards.Yet he supported Talbott in every conceivable way. He trained her personal staff and other aspiring ACORN leaders, he consulted with her extensively, and he arranged a major boost in foundation funding for her efforts
Obama's economic recovery package will actually hurt the economy more in the long run than if he were to do nothing, the nonpartisan Congressional Budget Office said Wednesday.
CBO, the official scorekeepers for legislation, said the House and Senate bills will help in the short term but result in so much government debt that within a few years they would crowd out private investment, actually leading to a lower GDP over the next 10 years than if the government had done nothing.
emboldened OPEC's decision to rapidly raise oil prices in response to perceived American weakness. IMO, these were the reasons for a worsening U.S. economy; not because of the Vietnam War
Carter's fault? Here's my take: Somewhat, because he certainly did nothing positive to help the situation. His decision to let the Shah into the U.S. for medical reasons in October 1979 (bad error) led to the hostage situation only 13 days later and stopped our importing of Iranian oil completely per executive order. The failed rescue attempt in 4/80
And let's not forget that the U.S for its first time in history under Carter demonstrated and displayed weakness to the world by failing to effectively resolve the hostage crisis in Tehran. We're still paying a price today for Carter's dreadful and feeble foreign policies. Carter's disastrous attempt to rescue the hostages via his botched plan, Operation Eagle Claw only underscores his abysmal failure as Commander In Chief
Stephanopolous and Krugman, what a pair of lying, incompetent jackasses. Warning: If you believe anything they say, you'll be dumber for having watched this video.
fsujag54 4 months ago
"The stimulus only stimulated Chris Matthews' leg." ---Congress of Racial Equality National Spkesman Niger Innis to Sean Hannity, Aug. 18, 2011
hookalakah 5 months ago
Krugman is a Stalin-era Communist faker.
God Save The Obama!
adamitshelanu 1 year ago
When Keynes said "in the long run we are all dead" I think he was referring to this decade.
bonfirejovi 1 year ago
Our leaders keep mentioning "Middle class' seems they did forget there is a "Lower Class" that would love to make UP the ladder TO the "Middle Class"... I am one among many. Still think they need to aim lower for the stimulus. Maybe help some of these parents with 2-3 jobs(like me)be home with their kids instead of being low rent slaves of some corporation. This economy has just spawned a new generation of the poor...
godawefulll 2 years ago
sounds like none of these have a clue what theyre talking about
sony8877 2 years ago
8% unemployment by 2011. We are at almost 10% now (July 2009). Real unemployment (like the way we used to calculate in the 1930's) is around 18%.
We are all Keynesians now. And we are all dead.
BTW - Kruggman never blinks...very strange.
happinessisnowhere 2 years ago 6
neither does nancy pelosi.
scweb007 2 years ago
Looks like a mighty fine mess, Olly.
yiotispan 2 years ago
Stop calling it a stimulas,it was no such thing! 300 MILLION went to hollywood producers to buy film,5 BILLION went to that fraud group acorn,another 300 million went to study std's,how the hell does this stimulate the economy?The spin was "we have to pass this now or the country will fall into the ocean"!Democrats didn't even read it,and he still probably haven't.That bill was nothing but a political payout to groups who supported the idiot,yours and my HARD-EARNED tax money!
f01863 2 years ago
Krugman is an idiot. Why do we reward failure?
ric0rich 2 years ago
krugman beliees that if we buried paper money in bottles deep underground then the jobs created by digging it back up would be benewficial to the economy, i am not making this up.
sony8877 2 years ago
@ric0rich
el100783 1 year ago
It's sad how all these so-called experts talk about effects as if they are the cause. No one talks about the Federal Reserve engineering all of this.
duh1024 2 years ago
I would love to see Peter Schiff on this show and go head to head with Paul Krugman. Peter Schiff would kick his ass,
duh1024 2 years ago
LOL! A clown who told everyone to lose their money in his fund? A guy who said hyperinflation and soaring gold and foreign stock would crash the economy? He overplayed his hand and is the kid who cried wolf. Both he and Krugman predicted the housing bubble, aside from that Schiff has stepped in a lot of shit and hilariously wrong predicitons. While Krugman also predicted the Bush deficits and the tech bubble. They are not even close sorry bud.
ipbalkenende 2 years ago
So are you agreeing with Paul Krugman? You want to print money out of thin air and borrow trillions of dollars we don't have to stimulate the economy and bailout banks?
duh1024 2 years ago
It worked for FDR and during WW2.. So yes.
(FDR 9% inflation adjusted growth per year for 12 years, an unmatched record).
There's lots of idle capital right now, those are buying the bonds we're using to finance the deficits.
ipbalkenende 2 years ago
Lots of idle capital to buy bonds? What?
duh1024 2 years ago
@duh
Words too big for you? Listen it was already pretty clear you don't have great economical expertise. Which is why I would advise you not to get too excited and ideological about it because you don't know what these men are saying.
As for the idle capital, in a steep recession demand falls very sharply leading to investors slashing production/investment. The fall in investment is the extra idle capital. I assume you do understand the concept of bonds so I'll leave that one.
ipbalkenende 2 years ago
Please explain how we use this "idle capital" to buy bonds.
duh1024 2 years ago
This recession means investment has collapsed, because demand has collapsed. That means there is a lot of capital just sitting there that in normal boom times would be invested in the economy. This capital now buys bonds en large (because bonds are the alternative safe haven to stock) which is how we finance the debt. So basically the shortfall in investment is being invested via the public. So no it's mostly not out of thin air.
ipbalkenende 2 years ago
This is what you sound like when all of your information comes from MSNBC. Capital, in economics, means production goods, or higher order goods, it's not money. We don't have any "idle capital," what we have is a market correction which has manifested itself as a credit contraction, or credit deflation. All this means is that all of the fake computer dollars have vanished. If we don't allow the correction to take place, and continuously pump "capital" into the economy, milk will cost $100,000.
Questfortruth86 2 years ago
@Quest
Money is liquid capital. With Idle capital I mean both money that isn't being invested and people who aren't working (who normally would). You don't know much about econ and just drum the party line it seems. Only explanation I can give why you would give a false explanation to disprove something I said.
ipbalkenende 2 years ago
It worked for FDR? Interesting, I guess that makes sense if your definition of "worked" means a 13 year long depression with 20% unemployment in 1939, and a depression within a depression in 1937 and 1938. Not to mention the stock market didn't regain its 1929 level until 1954. Liberals have pretty low standards.
Questfortruth86 2 years ago
@Quest
Yeah very interesting a 13 year run of 9% annual inflation adjusted growth, a record unmatched by any president. Unemployment went from 35% to 15% (in 37) back to 19% again because FDR listened to people like you and cut spending and raised taxes to combat the deficit (which was 40% of GDP in 1932 under Hoover and stayed there until 1941 with WW2). With WW2 massive public spending the deficit soared but so did the economy and unemployment was cut to 2%. Economically a fantastic record.
ipbalkenende 2 years ago
"back to 19% again because FDR listened to people like you and cut spending and raised taxes to combat the deficit"
Why did the economy explode in the 50's when Eisenhower cut spending? The Keynesians warned him, told him it would cause a depression, and yet it lead to the second longest and most robust period of economic growth in our history. FDR, on the other hand, thought it would be a good idea to burn tons of food during a drought in order to increase prices for farmers. Thousands died.
Questfortruth86 2 years ago
@Quest
Actually the economy did horrible under Eisenhower. One of the slowest growth we have seen (comparable to Bush Jr and Sr). I don't blame any policy for that though I guess the massive boom years of preceding him were bound to have a little correction, but of course after Eisenhower they went right on.
ipbalkenende 2 years ago
Yes, the massive boom period before Eisenhower, the great depression. This is the kind of insanity I'm dealing with. The group who praises a man who burned tons of food during America's worst drought in history, in order to "stabilize agricultural prices." Complete revisionist nonsense. The great depression lasted for 13 years, the stock market did not recover until the 50s. Unemployment was 20% in 1939, and there was a depression within a depression in 37,38.
Questfortruth86 2 years ago
"Yes, the massive boom period before Eisenhower, the great depression. This is the kind of insanity I'm dealing with."
Yeah the insanity of a little something called GDP. GDP growth was 9% annualy during FDR, almost the same during Truman. In fact by the mid 40s the GDP level actually beat the fake bubblecious trend line of the late 20s.
ipbalkenende 2 years ago
" the stock market did not recover until the 50s"
Yeah no wonder, the stock market bubble CAUSED the great depression. That's like whining about the NASDAQ in 2007. But why the hell would you look at the stock market as a derivative of the greater economy when you could look at the thing itself? GDP? That's a rhetorical question you're obviously a bullshit artist.
ipbalkenende 2 years ago
Comment removed
Questfortruth86 2 years ago
"Unemployment was 20% in 1939, and there was a depression within a depression in 37,38."
There's no such thing as a depression within a depression, bullshit artist.
"I'm sure you revisionists will be able to pin it on Bush like you did to Hoover."
You're pathetic. Your brand of cause and effect has effect preceding cause I presume?
ipbalkenende 2 years ago
Krugman's article merely criticized Greenspan's shifty position on the housing boom. Greenspan said it was a bubble, then he said it wasn't. Krugman said that there "may be a recession." This is dramatically different from the Austrians who predicted this mess exactly how it's playing out. When the stock market is at 2000, and unemployment is at 30% with 1000% inflation, I'm sure you revisionists will be able to pin it on Bush like you did to Hoover. And Keynes will somehow still haunt us.
Questfortruth86 2 years ago
Capital is not money in economics, for the last time. Capital refers to the factors of production, the machinery, tools, ect. We don't have any "idle capital." Nor do we have any money sitting around; we're having a market correction, all of the fake internet dollars have been deleted. And the banks are no longer able to lend at artificially low rates.
And I'm unable to find any article, or any video, where Krugman predicts the mortgage crises. Not one, the earliest date was oct.13 2008.
Questfortruth86 2 years ago
@Quest
Yes capital is money. Jesus Christ this is so easily verifiable, Google is your friend. So there's no need for you to keep peddling this bullshit.
"And I'm unable to find any article, or any video, where Krugman predicts the mortgage crises. Not one"
Well that's because it's increasingly becoming clear you're either an idiot, incompetent or deliberately obtuse.
Is 86 the year you were born or your age? Do you know how to handle a computer? I will PM.
Here's A vid: watch?v=qo4ExWEAl_k
ipbalkenende 2 years ago
"LOL! A clown who told everyone to lose their money in his fund? A guy who said hyperinflation and soaring gold and foreign stock would crash the economy?"
Wow, pretty awkward.
"Both he and Krugman predicted the housing bubble"
When did Krugman predict the housing bubble? please provide a link, any link will do.
Questfortruth86 2 years ago
"When did Krugman predict the housing bubble? please provide a link, any link will do."
The fact that you're ignorant of this tells me you shouldn't be judging or opining about Krugman. Google is your friend, this is very easy to verify and not an obscure fact at all.
ipbalkenende 2 years ago
You new-Keynesians are pushing this lie about Krugman predicting this mess; which is a complete joke. Krugman is nothing more than a wannabe politician, the man knows nothing about trade cycle theory, whatsoever. Time and time again your theories are destroyed, obliterated; the Austrian school warned Fisher in the 20s that there will be a depression, he didn't listen. The Austrians told us that the long-run Philips curve is a joke, no one listened; and they saw this coming, again, no1 listened.
Questfortruth86 2 years ago
You've made ludicrous claims about us supposedly losing 20% of GDP in the 20s and recovering it in the next quarter and you don't know what the definition of capital is in economics. Neither do you know anything of economic history when it comes to development of GDP as demonstrated by you touting Eisenhower as an example of great GDP growth and claiming growth under FDR's term was less than 9% annually inflation adjusted.
Why should we take your tired pathetic copy-paste Austrian BS seriously?
ipbalkenende 2 years ago
Do some research, the 1920's had a major international depression which destroyed Germany, Japan, and nearly the UK. It hit America as well, but Harding's hands-off policies assured a quick recovery.
The fact that you deny the boom of the 50s, which lasted until the early 70s, completely discredits anything you say. In fact, you were discredited the moment you said capital was money.
Questfortruth86 2 years ago
"The fact that you deny the boom of the 50s, which lasted until the early 70s, completely discredits anything you say. In fact, you were discredited the moment you said capital was money."
You've so far managed not to get a single fact right. A complete bullshit artist.
ipbalkenende 2 years ago 2
Yeah, exposing your ignorance makes me a bullshit artists. How convenient for you.
Questfortruth86 2 years ago
ipbalkenende.You can´t get talk any sence with that Questfortruth.He is Austrian von Mises-Rothbard fanatic and propagandist.
He think Milton Friedman was socialist to!
LOL!
treddas851 2 years ago
Yeah I should have known. It's always painful to see people so obviously, pathetically and knowingly bullshitting themselves. I've blocked the guy though arguing with someone like that is just frustrating and it's a one-way street.
ipbalkenende 2 years ago 2
@treddas851 lol keynesianism looking now buddy?
bonfirejovi 1 year ago
Comment removed
treddas851 1 year ago
This has been flagged as spam show
@bonfirejovi No your wrong.Keynsianism was a failure and a anglophile invention.It´s sorry to see you young englishmen fall for that economic disaster in pure patriotism.You should read some Milton Friedman like Essays in Positive Economics,that debunk both the Austrian and Keynsian crap.
treddas851 1 year ago
This has been flagged as spam show
@bonfirejovi No your wrong.Keynsianism was a failure and a anglophile invention.It´s sorry to se you young englishmen fall for that economic disaster in pure patriotism.You should read some Milton Friedman like Essays in Positive Economics,that debunk both the Austrian and Keynsian crap.
treddas851 1 year ago
@bonfirejovi No your wrong.Keynsianism was a failure and a anglophile invention.It´s a sorry to see you young englishmen fall for that economic disaster in pure patriotism.You should read some Milton Friedman like Essays in Positive Economics,that debunk both the Austrian and Keynsian crap.
treddas851 1 year ago
@treddas851 In all fairness they are not actually implementing any of Keynes' real remedies. All that the government have done is reversed Okuns law (1% employment = 3% growth) and targeted growth in an attempt to reduce unemployment. Keynes strongly advocated that spending should be directly used for targeting the unemployed with jobs, not by just giving them money as they are already uncertain about the future. As for Milton Friedman, good economist but he contradicts himself on occasions.
notoriousvak 10 months ago
@treddas851 Milton Friedman specifically says in his permanent income hypothesis that if people were given some transatlantic income they would not spend it as they know they cant sustain their expenditure into the future. But then he uses the helicopter analogy where if money was dropped from a helicopter people will spend it..... contradiction right there.
notoriousvak 10 months ago
You honestly do your name little honor. You tell me what's wrong with 9% annual inflation adjusted growth? Or 8% if you want to keep it pre-war (not sure why the war investment was a larger manifestation of Keynesianism than the New Deal). This compares with say 5.6% for a LBJ?JFK or 3.3% for a Reagan or 1.5% for Bush jr, Sr and Eisenhower, just to give you some context.
ipbalkenende 2 years ago
"You tell me what's wrong with 9% annual inflation adjusted growth?"
First of all, it wasn't 9% annual growth; in 1937 and 1938 we had a depression within a depression. But even if this was the case, that;s a pathetic growth rate during recovery. In 1920 we lost 20% GDP in one quarter, and made it up in the next. This is why they're called "recoveries." The great depression was "great" because the recovery took forever. Thus 20% unemployment in 1939.
Questfortruth86 2 years ago
hey duh- i'm going go with schiff on this. I'll take an Austrian school economist over a keynesian economist anyday!
chumlee333 2 years ago
whatever they said...ppl r still losing their jobs...bullshit package
HmoobNewWave 2 years ago
public sector investments are usually made for political reasons, popularity, posturing, and often outright ignorance. yeah, the government needs to do A LOT RIGHT NOW.. it needs to do A LOT of getting out of the way, cutting itself back down to it's pre new deal size
buzzadler 2 years ago
the private sector will ALWAYS make better investments than the public sector (government) for three fundamental reasons that NEVER change because they are based on hardwired human behavior. 1) economic calculation 2) economic incentive 3) economic consequences. the government has little ability, little incentive, and little to no consequences when it fails in its spending programs. Private sector investments are ultimately made based on consumer demands, whereas ....
buzzadler 2 years ago
@buzz
Yeah but private investment is not a policy choice. We would love to wave our magic wand and say 'privates invest!' but we are in a big self reinforcing slump right now.
So private or public spending is a false choice, it's temporary public spending or nothing. You're with Hoover on this, fine most of us are not.
ipbalkenende 2 years ago
hey dragrace- re: your comment regarding the Reps calling the stimulus bill pork- they were referring to building new roads bridges, etc.. well maybe the money that went to Amtrack but that's understandable in my opinion since Amtrak has NEVER been profitable and sucks milliosn of $ each year! They were referring to items such as STD prevention - total BS!
chumlee333 2 years ago
@chumlee
Is the interstate profitable? Or the billions of subsidies for airlines who were bailed out in 2001? Amtrak gets scraps. An eastcoast midwest HSR (real HSR) would be perfect right now (+California and Texas triangle and you have a world class system).
ipbalkenende 2 years ago
no the interstate isn't profitable ,however it isn't privately owned either so not comparing apples to apples. well in theory it is supposed to be privately owned...
chumlee333 2 years ago
One thing I dont understand is that Republicans can spend by some estimates 1.5-2 trillion on a war in Iraq.
But when we get a president that wants to spend money here in the states for our own use (bridges) (railways) (roads) (infrastructor) the republicans call it pork.
I guess it's called (patriotism) to spend it overseas on people who hate us and dont want us in their country. Call me a (socialist) but I'd rather see my tax dollars spent rebuilding this great nation. God bless the USA
dragrace69 2 years ago
What is needed is a REAL Capitalist Party. Both the Republicans and the Democrats have screwed the economy with policies that are totally against the capitalist structure.
If anyone who listens to Krugman believes he's right on government spending, I have a bridge that they can purchase with their share of the stimulus package.
captaindiesalot 2 years ago
Krugman is a redistribution of wealth socialist and is convinced that only the gov't can get us out of slump. Donaldson is right - give people the money not the government.
chesterviolet 2 years ago
chesterviolet is stupid
"Give people the money" = a redistribution of wealth
Who exactly do you want give people the money? Surely the gov is the only means - tax cuts
In conclusion: you have no idea what your talking about.
ecidub 2 years ago
Don't get it do ya! If the govt wants to stimulate the economy why give stimulus money to banks that hol it or car companies that pay off debts. Give the stimulus to regular and real taxpayers not the ones that pay nothing. Then the money will actually be spent and increased spending is what makes the economy go. Taxcuts are OK too but only to those that actually pay.
chesterviolet 2 years ago
We have a home foreclosure rate cause by congress backing subprime lending. Now those banks who weere praised for helping lowincome people are being called Predatory lenders. We can't have it both ways. The whole mission of democrats is to create dependancy. Americans have been made so fat dumb and happy that only a few americans understand how much fraud is being perpetrated by the Fed.
hamace 2 years ago
Your looking at the effects, not the causes.
Questfortruth86 2 years ago
I think I did talk about ,some of ,the causes.
hamace 2 years ago
This has been flagged as spam show
"As the Obama administration attempts to push through Congress a nearly $1 trillion deficit spending plan, a rebellion against the growing dominance of federal control is beginning to spread at the state level. So far, eight states have introduced resolutions declaring state sovereignty under the Ninth and Tenth Amendment to the Constitution, including Arizona, Hawaii, Montana, Michigan, Missouri, New Hampshire, Oklahoma and Washington."
rodman332 2 years ago
Demand accountability from the Republicans. Everyone who voted NO on the stimulus should reject federal funds... and if they don't then they should stop standing in the way of progress!
Sign the petition!
//w w w. gopetition. c o m /online/25388 . html
Shabaka87 3 years ago
Progress = free handouts? Progress = socialism? Progress = economic collapse wienmar republic style? What the fuck is your definition of progress, because the current economic strategy has been attempted in the past, it has always failed. Americans need to open up a history book.
Questfortruth86 2 years ago
What free handouts? You mean like the $10 billion/month Bush gave to Iraq?
Shabaka87 2 years ago
Yeah bush fucked up, so now obama has to fuck up? I don't understand your logic...
Questfortruth86 2 years ago 2
Im not sure about Fucking up. Maybe I give them all too muc hcredit, but this economic collapse seems engineered. If the banks were left on their own to lend as they see fit. We would not be having this discussion. And only those who could afford loans would have them. Am I making sense?
hamace 2 years ago
if interest rates weren't at 1.5% people wouldn't constantly refinance their homes and burrow as much. The artificially low interest rates create a vast gap between people's income and their purchasing power, creating bubbles and an artificial boom. Artificial booms always lead to very real busts, especially when these fake booms are perpetuated by debt. This debt is compounded, and eventually can not be payed off, leading to liquidity issues and run on banks. It's somewhat complicated.
Questfortruth86 2 years ago
If that's the case, we would have to go back to re-assess every single time the Dems voted against something that they ended up being wrong about, yet reaped the benefits of that particular bill. We also need to abolish political parties. The need to keep people in any type of arbitrary group (racial, socio-economic,etc.) is just so that they can be controlled, dependent and used to keep certain ones in power.
joreis88 2 years ago
These political parties are literally arbitrary, they have nearly identical philosophies on all matters, ranging from economics to foreign policy. They create synthesis, an illusion; it's all a giant hoax.
Questfortruth86 2 years ago
Link where he predicted the collapse and when please... The Austrians have been talking about an American economic meltdown for years now.
Questfortruth86 3 years ago
Many people, have seen this coming since the increased pressure by CRA, offshore manufacturing,and the allowing of illegal immigrants to suck up billions of US dollars. The problem is so compounded. Political rhetoric then confuses the dumbest of americans who instead of learning about what's actually happening, turn on the TV and forget about it
hamace 2 years ago
KRUGMAN, SHUT THE FUCK UP.
Questfortruth86 3 years ago
We are all lemmings
flybri74 3 years ago
Why doesn't anybody talk about we need a new tax code. We are over taxed, the Government mishandles so much money. How much of our tax dollars are wasted, how much corruption is in the Governemnt. Why do we have so many social programs..? Might be because Americans are so over taxed they can't afford things like health care. Lets look at the fair/flat tax. Put pressure on the Governent to budget our money and not abuse it.
majesticbob2007 3 years ago
when George Stephanopoulos was press
secretary for clinton he would never give you a straight answer so he is nothing but a big fucking windbag that needs to be bitchslapped
al080664 3 years ago
another thing that bothers me our rental pays for the morgue we have on the condo , we own another house out right and rent another house , we are not receiving any deals to redo our morgues ? while people the CRA and the Dem's pushed for low income loans now they are foreclosing and bailing them out ? how dose that make any sense This is the biggest joke in history
use too they would have TARED and feathered and ride people like BHO out on a rail
navyman0290 3 years ago
Comment removed
navyman0290 3 years ago
Comment removed
navyman0290 3 years ago
bigpapi255 : Millions of Americans are out of jobs because we hand over billions of dollars to countries that don't like us. We have millions of illegals draining our health care and tons more people that can work on disability. We have CEO's and higher level management taking millions from the folks that actually do the work. Were the ones paying for this shit. Theres nothing in this deal to help us, so I don't want to hear it.
rebo550 3 years ago
open hearing into REP and oil companies defence contractors , Dem's banking and FM & FM and ACORN and defence contractors coming soon as the Dem's are stopping no wars .both DEM and REP alike have sold our sous to the devil .This bill less then 5 % has to do with putting people to work . SAYS budget finance committee . the REST is ear marks for ear marks . Another words they are not earmks yet but slated for ear mar
navyman0290 3 years ago
Comment removed
navyman0290 3 years ago
Nancy Pelosi ( Botox quessn ) the one that added the millions to save the red spotted mouse in CA she also made the statement " the stim is great as we have now added programs we been trying to get for years ) another words the DEMS are using it like XMASS .The thing is no DEM should be elected for the next 30 years then if they do work again t to clean the toilets at the white house .they have lost their minds
navyman0290 3 years ago
1. That red spotted mouse lie is made up. 2. Have you forgotten about the trillions of porkbarrel spending that bush had with the Iraq War or the giveaways to oil companies. You're A Moron! By the way it's "in other words" not another words. Although I'm glad you can spell such a big word like another, your boyfriend Rush Limbaugh must be proud, keep doing lines of Oxycontin off his ass you ignorant douchebag. I don't agree with everything in this bill, but it's better than anything the GOP did.
bigpapi255 3 years ago
it is not made up go to fact checks . I do not lie using fact checks as it is owned by Harvard buddies if BHO but they are usual good source to check with , you are going back to bush bush
BUSH has nothing to do with BHO being transparent like he promised ,, I have nothing to do with this bill, other than being a taxpayer , so attcking me will not defnded yoru position with BHO no matter how retro it is , AKA BUSH BUSH IRAQ talk .If you taken the time to read I also stated we need
navyman0290 3 years ago
I don't see it anywhere on fact check. And don't pretend Bush was ancient history, he was still president less than a month ago remember? I see how you deleted your comment supporting the republicans so you can pretend to be independent. Nice try. I don't agree with some parts of this bill, but most of it is unemployment insurance, middle class tax cuts, and infrastructure repair. What's wrong with that when millions of americans lose their jobs, and roads and bridges are crumbling?
bigpapi255 3 years ago
bigpapi255 for one i am blind I have a hard time with you tube , I deleted it because I did not come out how I Wanted it too , history on BOTOX Nancy . I can not remember but I think it was b4 GOV Davis was booted out of CA My wife and I have a rental in CA , CA was and is going broke in the middle of all this nancy BOTOX gets millions to save wet lands in BaY area , and a mouse , now the same BS in the new STIM to save wet lands in CA while my wife just got a IOU for tax return
navyman0290 3 years ago
Proof is in the pudding???? As you can NOW see, they could have passed ANYTHING since 2006 without Republican help IF they had but TRIED. But nooo.... $4.00 a gallon gas, the collapse of the stock market and all that had to be put on Bush's watch. Good old lefty politics as usual. The ride has just started it's already looking like a roller coaster that jumps off of a cliff.
HouseOfGroove 3 years ago
Krugman you cocksmoker we will hold people like you personally responsible, just remember that
jjrglobal 3 years ago
Where there is smoke soon fire follows, its up to you Congress,and House, and Senate, the debate is fierce and not only in your big egotistical hands, but as you can read we are ready to do what it takes to make things right. It only takes one piece of straw to break the camels back!!!!!
milfeus5 3 years ago
milfeus5 did you hear NANY BOTOX SPEAKER she said the stimuls was great it gave Dem's the chance to pass on spending they wanted for years and years . LIK EMILIONS to saving a mouse in CA WTH ?I see buckets of tar and bags of feathers .
navyman0290 3 years ago
Hey navay man add me on your friend list I like reading your political comments
vycaso 3 years ago
Hello Navyman0290 I'm not going by what the mainstream media says but deep in my heart the crux of this economic problem is this Free Trade Agreement. The mainstream media and our leaders always go around the real problem to use our own money instead to bail out our economic woes. On the news they laid off steel workers who relied on the auto industry to keep their jobs. we should be relying on other countries to buy our steel instead. We can't continue to make money from within our borders.
vycaso 3 years ago
Have our leaders forgotten what this country the united states stand for. We stand for freedom and rights that protect the rights and wages of our laborers but yet it seems our country supports cheap labor in communisim countries, third world countries and mexico that destroy jobs here at home. I say that we the people need to make a stand against free trade and boycott all retail stores that practice this inhumanity of using cheap labor from countries that can't even support thier own families.
vycaso 3 years ago
If this second stimulus package doesn't work causing more job losses I gotta get off my behind in protest against the number one problem which I think is the problem Free Trade. Anyone retail stores that send their jobs over to China supports communisim and their retail stores need to be boycott to prevent other jobs from being shipped overseas. You know what type of jobs are being erected in united states it seems, hospitals lots and lots of hospitals charging too much for medical care.
vycaso 3 years ago
We all have to stand up together united on a common cause in agreement in terms of taking back our country from these incompetent leaders and analyst that have the big head because they go to some prestigious college or one day when our economy is broken and unable to repair itself both Canda and Mexico would be added to the United States. I don't want that to happen and am tired of seeing good Americans lossing their jobs because some dummy politcal figure. This Free Trade has to end
vycaso 3 years ago
Our country is supporting two wars and on the brink of collapse yet in this second stimulus bill you say that there is a bill to spend millions of dollars to save a mouse in the state of california are you kidding me! and guess who is from california that crazy nutty woman Nancy Pelosi. I always knew that the second stimulus is just a leftwing bill to get the Democrats agenda a head start and not in thier interest to help the economy.
vycaso 3 years ago
I am glad REP did not vote for this as now DEMS can only blame their selves there is nothing in the bill that will put anyone to work
navyman0290 3 years ago
by passing the STIM.unless things are not controlled really soon I belive America will break up into 4 different bodies .I have not quite figured out whom will be whom but reading some of the new bills proposed by many states I am said to say I agree with you.what happened to
bho transparency ? all this shit was done behind closed doors and/ with out public being able to read the bill
navyman0290 3 years ago
Bush might have drove in a ditch, but Obama is heading for a cliff with his foot on the accelerater.
Gamera49 3 years ago
This has been flagged as spam show
Democrats better hope that Obama is not Lincoln because Lincoln led a civil war in America in which more than 600,000 Americans died and that was when the population wasn't as big as it is now.
Lincoln a good soul, freed slaves. Obama an evil soul, freeing Terrorist in Gitmo. Lincoln was known as "Honest Abe", Obama is known as a Liar. Lincoln only spend $700 while in office, Obama is going to put the country in debt for generations to come.
retired77070 3 years ago
then we get back to being the leaders in the world for exporting food that is our power , we need t stop paving over the mom and pop farms , go to the gold standard . and besides where so much in debt who gets all the money in the END ?
navyman0290 3 years ago
Hey navyman0290 our country is in deep trouble. I think they passed the second stimulus package. If the second one doesn't work I think this is the end of the united states. I just don't get it sometimes how we use our own money to bail out our economy instead of creating manufacturing jobs to be manufacturing base as we once were to sell things made in the united states. I believe China and other countries where we get our consumer goods is crippling this country.
vycaso 3 years ago
vycaso I seen that today , in-fact china is yelling at how stupid we are and further hurting the world economy
navyman0290 3 years ago
All the U.S. government is really scared of is keeping American Citizens pliable. If people arent at work they start noticing how fucked the system really is. Then they start asking questions. These fucks just referred to me as a consumer in this video. Thats all we are to these people. Citizens have way more power than politicians simply because we can protest and if our demands arent met then people get violent. History says so and people will do so.
milfeus5 3 years ago
Police are private companies paid by the state. If citizens are not at work there is less money that is paid to taxes which leads to cutbacks on all state funded projects,and then in turn to all federally funded projects. Already where I live there has been cutbacks on the police force and they have tried to compensate for the lack of funding by issuing more citations. This is another disturbing turn which will only anger people more. No money to pay cops if riots were to break out.
milfeus5 3 years ago
Japan had 8 or 9 stimulus bills in the 90's and none of them revived their economy.
neobootsonious 3 years ago
If our gov is going to spend 800 something billions to help our economy, why give it to the greedy bankers and corporations when they can give it to the families. US population is only 303,824,640. They can give a million to each family and there's still left over. People would start buying, put some in the bank, or even start a business with it. Also, that's like giving back the tax payer's money too. The bankers will just reinvest away our money for themselves.
FreeTheTruth1 3 years ago
FreeTheTruth1 problem with giving all Americans that much money would make our dollar worthless as what happened to GERMANY , this has nothing to do with the common man it has to do with huge government and paying off huge CEO to keep their mouth shut REP and DEM alike we need public hearings as far as transparency goes that BHOhas promised both bills already signed by him was done behind closed dooors
navyman0290 3 years ago
Well, if we don't want our dollars to be worthless, then we must stop printing money like there's no tomorrow. Our dollars is not even backed by gold anymore.
FreeTheTruth1 3 years ago
Liberal dribble...Give me my money back!!!
imbubba56 3 years ago
You mean like the welfare "stimulus" checks your boyfriend Bush sent out? I bet you spent it didnt you? lmfao
Shabaka87 3 years ago
OOOOH....$600 Bush wasn't a conservative. He spent money like a socialist Democrap. Hell Shabaka87, I hope $600 doesn't mean much to you because it doesn't to me.
This other shit is a backdoor tax. You'll be seeing the price of everything go up...and that is a tax...dumbass.
imbubba56 2 years ago
New Jobless claims dropped in January, and US retail sales unexpectedly jumped by 1% in January. We will see what the February numbers are like next month.
Shabaka87 3 years ago
This has been flagged as spam show
Shabaka87 LMAO you forget America is fickle BHO has about a year of his BIS crook tactics left then America will hold him accountable good move by the REP not to vote for the STIM as it will not work ,. lets see how he lies and tries to blame the REP America will be tired of it and see him for what he is
navyman0290 3 years ago
pay all taxes into our county government and that's it .
navyman0290 3 years ago
Funny thing is. The most affluent communities are Blue. I'd agree to that. That way the degenerate hicks wouldnt get any of us intelligent peoples money for social security, health care, infrastructure, etc. Great plan
Shabaka87 3 years ago
Comment removed
navyman0290 3 years ago
The stimulus wont work? Since you are a psychic what are Saturday's powerball numbers?
Shabaka87 3 years ago
Shabaka87 no I look at japans in the 90 they tried it it did not work , now BHO is trying to put a spend on japan's history LMAO the guy got more BS than a BULL having Americans go into more debt to stop debt is crazy , billions going out to community organizers is stupid ACORN I see will get a huge cut to YUP once on the take alwys on the take RIGHT
navyman0290 3 years ago
I mean. The Stimulus Bill has already passed, and will be signed on Monday. We will just have to wait and see what happens. Hoping that it doesnt work is just as pointless as hoping it does.
Shabaka87 3 years ago
Shabaka87 I am not hoping it ill not work I hope it works , but like i say it has nothing to do with making it work for the tax payers it has to do with huge banks , oil companies.and here one for you billions to community organizers AKA ACRN how that make any common science
navyman0290 3 years ago
This economic crisis is not just some little thing that we can hope fixes itself. If 600,000 people/month continue to lose their jobs this country will go into a depression, because most states are running out of unemployment benefits right now. Even Coca-Cola had negative 18% Profits. Nobody is buying. The Government needs to throw trillions in the game to stop the bleeding. If we have hyper inflation years down the line us young folks we deal with it then.
Shabaka87 3 years ago
Shabaka87 ( then why not use the money for things that will do the job , Like OK you get any money for housing then you must prove you could have afforded the loan to begin with , then you can be bailed out . put a lot in food stamps that keep grocery stores going . put money into unemployment , health care, tax cuts . ROADS , farming green energy none for banks or auto workers .and that would be about it .
navyman0290 3 years ago
milfeus5 ma I had the same idea today LMAO what if Americans just said F you, But really it should be our MAYORS office .
The local police or county would be a great barrier for us .
navyman0290 3 years ago
These people have no Idea how angry the U.S. really is. I believe were on the verge of riots! I lost my job because of no fault of my own along with millions of other Americans, and these bitches are balking on some 800 billion dollar plan. The war's in Iraq and Afghanistan have already cost 3 trillion dollars! There are no talks of cut backs on these areas to help our economy. You dumb bastards better watch out because if I'm not paying taxes, politicians aren't getting paid.
milfeus5 3 years ago
Great idea, milfeus5! We should all refuse to pay our taxes (didn't Geithner?)and then go storm Washington and kick all those jokers out!! This SPENDING BILL is the BIGGEST HANDOVER of private sector to government in U.S. history!! What happens when gov't takes over something? It becomes corrupt! Why are they in a rush? Because they don't want you and me to have time to read all the FINE PRINT!!!
joreis88 3 years ago
This has been flagged as spam show
Breaking News! 02/11/09 They've reached an agreement and taxpayers get screwed royally. We pay, they play.
Obama's "Making Work Pay" tax credit would be reduced from $500 per worker to $400, with couples eligible for an $800 credit, instead of $1,000, said a Democratic aide close to the talks. This aide spoke on condition of anonymity because the negotiations are private.
retired77070 3 years ago
CEO's and banks robbing us blind, American jobs going overseas for 2 bucks an hour, illegal's crossing our borders by the hundreds each day draining our healh care, drug wars and a record amount of folks on welfare and disability. Not one word about how they are going to fix this shit. But I'm sure the extra 25 bucks unemployment money will come in handy buying beer and ciggs. I'm sure the banks will think of our welfare when they get our hard earned tax money to flub around on themselves again.
dx8675309 3 years ago
This has been flagged as spam show
In his first big news conference, Obama confirmed what is in this Youtube video titled.
Smoking Gun: Democrat Insider Says "Obama Has Secret Plan to Fund a Patronage System"
Last night Obama said, "Only government can create jobs."
Now it's up to us the people to empower ourselves. Go to nostimulus(dot)com and sign the petition to scrap the stimulus package.
retired77070 3 years ago
Comment removed
retired77070 3 years ago
This has been flagged as spam show
A spoils system (also known as a patronage system) is an informal practice where a political party, after winning an election, gives government jobs to its voters as a reward for working toward victory, and as an incentive to keep working for the party.
So, I'm sure this means that all the jobs created by the stimulus bill will be for blacks & foreigners. Since, that is mostly who voted for Obama.
retired77070 3 years ago
This has been flagged as spam show
Search Youtube for this video:
Smoking Gun: Democrat Insider Says "Obama Has Secret Plan to Fund a Patronage System"
youtube(dot)com/watch?v=RGafMHsV4Ug
Copy and paste title in Youtube search box if link doesn't work.
retired77070 3 years ago
Urged on by ACORN, congressional Democrats and the Clinton administration helped push tolerance for high-risk loans through every sector of the banking system - far beyond the sort of banks originally subject to the CRA.
So it was the efforts of ACORN and its Democratic allies that first spread the subprime virus from the CRA to Fannie and Freddie and thence to the entire financial system
navyman0290 3 years ago
DISASTER! No guidelines, oversight, review in the Economic Stimulus (ES) bill?!! HELP! Correct This Now Before Any Final Vote. "CHANGE" goals and directions will be thwarted without guidelines & oversight. Earmarks, targeting—call it whatever—are necessary!! B.S. to lamenting in the foreseeable aftermath!! "Trickle Down Theory" holes are DISASTER to Hope & to Change We Can Believe In. Yes to the E.S. Bill with guidelines & oversight! Contact your Congress and Senate persons today!!
N2itv2 3 years ago 2
THERE IS NO MENTION IN THE STIMULUS FOR THE FOLLOWING:
1. No money to finish US/Mexican border fence.
2. No money going to ICE. Seems like if ICE had more money there would be more busts at work places and this would create job openings.
3. No money going to E-verify.
One would think that with the drug wars happening along our border towns, the American people would be demanding that Obama address this issue in the stimulus package.
retired77070 3 years ago
Yup, Trillion with a "T" filled with paybacks for all who voted for Obama - unions, ILLEGAL immigrants and everyone in between - but not a penny going to our Defense Dept.. In fact, our loyal troops are going to have to cut back $5 BILLION+ while the cronies get all the kickbacks. What a sad, sad commentary....America, we need to march and storm the Bastille!!!
joreis88 3 years ago
Don't forget, Obama is gonna make us serve with openly gay soldiers too. You have no idea what a disaster that is gonna be. Im prepared to resign anyway.Obama is gonna get us all killed
hamace 2 years ago
Obama also co-sponsored legislation in 2007 that would have given ACORN immunity for any wrong doing under the Truth in Lending Act for promoting subprime mortgages.
navyman0290 3 years ago
In the stimulus theres $198 million to compensate Filipino World War II veterans for their service. Most dont live in the United States. I'm sure that the few left will end up millionaires with that much money to split among them.
What about the vietnam veterans and other Us veterans? And, there is no money in the stimulus for the US Mexican border fence. Now, tell me who Obama is catering to? The answer, "Not the American people."
retired77070 3 years ago
Burp! 1st pkg wrong!
Retired77070's Stimulus Bill:
1 trillion ---- 1 Million for every non-muslim American. It's time for the taxpayers who foot the bill to get rich, not just the lawmakers. Screw the honeybees and the fish, we want our millions.
200 Million ---- To finish the Mexican US border fence
300 Million ---- To depart illegals and their children
The American people could sure stimulate the economy with this type of money.
retired77070 3 years ago
Comment removed
retired77070 3 years ago
they say its only 1 percent that are pet projects but whats 1 percent of 800 billion. that one percent needs to get with the program, but that won't happen because they know the bill will be pushed through regardless. so much for bipartisanship. i see no CHANGE. politics as usual.
dbvaughters 3 years ago
We are being sold out by Republicans and Democrats.....
Stop being partisan, it's destroying AMERICA AND it has destroyed our economy.
If this bill passes, go out, buy a Gadsden flag, pull down your American flag that is flying outside your house and fly the Gadsden instead.
Find it at a store, do a search online for one, tell them that Americans ARE UNITED, we are against both parties selling us down the river and selling our country out for votes.
rage1605 3 years ago
rage1605 the thing is rage I have a felling the bail out of the BIG boys and banks have more to do with paying them off to keep their mouths shout . AFTER all DEM and REP alike have taken a lot of money form them BHO and DOOD being the two highest the crap has staked up to the top now , What happened to the day when bad companies failed , AMERICANS are being played like fools and being scared and swooned like idiots over the race card say one word against BHO your a bigot right ?
navyman0290 3 years ago
The one lady that spoke (not sure what her name is) mentioned what I understand to be a huge problem at my job. People want to buy. I have written up several deals with people with great credit who are getting turned down. It is the banks plan and simple. We have given them billions of our tax dollars and they are not willing to free up credit.
assoonas1 3 years ago
Whether you are an obama groupie or right-winged mouth piece... the stimulus package equates to about 20K/family that will be subsidizing failing business. Good money after bad.
What happen to the $700B? Now they want another 900B! why does the gov get to decide that wall street should get bailouts but main street should not? isn't it bad enough we have 2 sets of rules for tax paying? now the poor is going to subsidize 500K executive salaries? why not just forget bail outs to begin with?!
cicero747 3 years ago
CBO letter to Judge Gregg . . .
In contrast to its positive near-term macroeconomic effects, the Senate legislation
would reduce output slightly in the long run, CBO estimates, as would other
similar proposals. The principal channel for this effect is that the legislation
would result in an increase in government debt.
FreeAgain2 3 years ago
Will you favor the bill? Will you favor paying off Obama's debts? Obama is trying to scare the Senate and the American people into passing the stimulus bill because he is the one who is running scared. If the stimulus bill doesn't pass it will be catastrophe for Obama because he won't be able to pay off crooks like Acorn and the other crooks he owes favors to. Only a dumb ass would NOT be able to tell that Obama is running scared it he can't make his pay off to his crooks.
retired77070 3 years ago
our image in the world has been dinged or damaged let me tell you to the extent that that's true people in financial institutions around the world are saying What have you done to us You've made us take on this worthless garbage paper What have you done to us What are you doing to your financial system It ain't about Iraq It ain't about the war on terror So there is Obama running around talking about how we've lost our esteem
navyman0290 3 years ago
That aggravates me like you cannot believe We're going to analyze the debate as things shake out as the program unfolds before your very eyes Of course Obama is as close to ACORN as anybody can be closer to ACORN than anybody ever seeking the presidency And ACORN went out and put their own pressure on these banks and lending institutions political correctness pressure spread this misery far and wide under the terms and definitions of things like affordable housin
navyman0290 3 years ago
In the early 1990s, reports Stanley Kurtz, senior fellow at the Ethics and Policy Center, Obama was personally recruited by Chicagos ACORN to run training sessions in direct action. Thats the euphemism for the techniques used under the cover of the federal Community Reinvestment Act to intimidate financial institutions into giving what have been called Ninja loans — no income, no job, no assets — to people who couldnt afford them.
navyman0290 3 years ago
The Woods Fund report makes it clear Obama was fully aware of the intimidation tactics used by ACORNs Madeline Talbott in her pioneering efforts to force banks to suspend their usual credit standards.Yet he supported Talbott in every conceivable way. He trained her personal staff and other aspiring ACORN leaders, he consulted with her extensively, and he arranged a major boost in foundation funding for her efforts
navyman0290 3 years ago
Comment removed
navyman0290 3 years ago
Comment removed
navyman0290 3 years ago
Comment removed
navyman0290 3 years ago
Bush and the Republican Congress authored the ownership society, and had one of the sloppiest fiscal policies in history.
They are to blame. Obama and the Democrats no longer need them.
penwell82 3 years ago
Obama's economic recovery package will actually hurt the economy more in the long run than if he were to do nothing, the nonpartisan Congressional Budget Office said Wednesday.
CBO, the official scorekeepers for legislation, said the House and Senate bills will help in the short term but result in so much government debt that within a few years they would crowd out private investment, actually leading to a lower GDP over the next 10 years than if the government had done nothing.
FreeAgain2 3 years ago
Where is that report?
blacknosugarnocream 3 years ago
emboldened OPEC's decision to rapidly raise oil prices in response to perceived American weakness. IMO, these were the reasons for a worsening U.S. economy; not because of the Vietnam War
navyman0290 3 years ago
Carter's fault? Here's my take: Somewhat, because he certainly did nothing positive to help the situation. His decision to let the Shah into the U.S. for medical reasons in October 1979 (bad error) led to the hostage situation only 13 days later and stopped our importing of Iranian oil completely per executive order. The failed rescue attempt in 4/80
navyman0290 3 years ago
And let's not forget that the U.S for its first time in history under Carter demonstrated and displayed weakness to the world by failing to effectively resolve the hostage crisis in Tehran. We're still paying a price today for Carter's dreadful and feeble foreign policies. Carter's disastrous attempt to rescue the hostages via his botched plan, Operation Eagle Claw only underscores his abysmal failure as Commander In Chief
navyman0290 3 years ago