Newt Gingrich on the Stimulus Package

[Yankees27u]

The strimulas that was passed that fall, was passed under George W. Bush!!!!!!!!!!

[dacmiller]

Damn straight

No one wants to hear the truth

The truth is hard......its coming and its going to bury us all

[zerogullibility]

Gingrich sold his soul to the highest bidder. A sell-out always takes the best offer.

[radiodj1520]

I Believe This Was A Video Clip Of ABC News' This Week With George Stephanopoulos' The Roundtable Report On Newt Gingrich On The Stimulus Package On Sunday Morning, February 8, 2009.

[86THECRITIC]

Of course he will say all of that. He wants people to lose faith in the Obama admin so he can get elected.

[philpalx]

When are people goiing to realize N. Gingrich has no idea what he is talking about? There is no way you could let the entire US auto indusutry and half a dozen major banks all fail. The result would have been a total economic disastor. I remember is 2000 Mr. Gingrich raving about the incredible foriegn policy team GW Bush would have. Rumsfeld, Powell and Rice. Not to meantion Mr. Chaney. Boy, we all know how that turned out.

[IloveYouCalifornia]

I remember a quote by someone, possibly Chris Dodd, that the Wall Streeters came to Wash, DC & made a statement to them (some members of Congress). They said that if they did not receive assistance, there could be rioting in the streets. And the threat of martial law. So....does that mean that the Fed is really worthless? What exactly would have been the repercusions if certain banks were allowed to fail? Sometimes you need to test the waters & allow failure rather than reward it.

[villanova85]

I agree. Let them fail!!!!

[joeyconservative]

Newty you served divorce papers to your first wife in a hospital after she underwent cancer surgery.

Then you became a dead beat daddy to your daughters. CRAWL BACK INTO YOUR HOLE!!

[shawno66]

@joeyconservative

Straw man argument. He might be a cad personally, but his point is still correct.

[philpalx]

@shawno66 Newt Gingrich is an idiot. He hasn't said or done a correct thing since he resigned as Speaker of the House - FOR CHEATING ON HIS WIFE - after impeaching the President of the United States for the same thing.

[ola2ryo]

Free market is a powerful force, and I do believe the market will fix itself without government intervention eventually, but when??

Keynes once said a famous quote about the free market, "In the long run we all be dead." The reason: There are market forces that are inflexible.

[enduro0276]

The market will fix itself when the gov. stops intervening and lets the market correct itself.

[philpalx]

@enduro0276 Yell in ten years after millions of people waste their lives in poverty and destitution.

[ola2ryo]

TimeWarp66, what is your explanation on the Great Depression? People during that time thought the market will eventually fixes itself. In fact, the president went on a fishing trip when the economy went downhill. Nobody cared and look at what happened? Unemployment rate was at 25% at one point, we are no where near that point right now.

[hoodoo961]

The problem is that our government cuts taxes and raises spending when times are good and then again when times are bad. In the Keynesian model, you raise taxes and cut spending in good times and cut taxes and raise spending in bad times to stimulate growth.

[TimeWarp66]

19th century America was a laissez-faire society.

Income inequality means nothing. And why just be outraged at income inequality? What about academic inequality? Isn't "unfair" that an elite minority get A's and most get C's? Should we redistribute grades like you want to redistribute wealth? Though our rights should be equal, we are all very different and unequal.

[TimeWarp66]

Since Cowperthwaite, Hong Kong's financial minister died in 2006, HK has become less Laissez-faire, but nevertheless, has the freest markets of any country in the world. HK has:

No import tariffs

No minimum wage laws

No fixing of prices

No captial gains taxes

20% Flat Tax

No V.A.T

No sales taxes

No regulatory agencies on large business practices, nor banks.

At the end of WW2, HK had a per-capita income about 1/4 that of Britain. By 1997, its per-capita income was equal to England

[TimeWarp66]

since the creation of the Fed and moral hazard-inducing government signaling which has undermined the need for individual responsibility in interactions with the marketplace. Poor government policies in the mortgage industry get to the heart of the matter and show what misguided government-backed altruism can do at the base of the financial systems.

[TimeWarp66]

"Free market theory is basically an unattainable fantasy."

1)Tell that to the people of Hong Kong and Singapore.

2)Prior to 20th century government medaling, the world economy was nothing but free markets.

"But the point is, that the deregualtion that occured in the 1970s was the prime catalyst for this crisis."

1) Very little deregulation occured in the 1970's

2) The catalyst for this crisis was the FED manipulating interest rates, and Congress for making banks remove lending standards.

[TimeWarp66]

"They just regurgitate free market rhetoric"

-Like what?

"Free market enthusiasts cannot discuss political economy, political philosophy or public administration theory."

-Sure we can. Let's have a go at it, shall we?

[TimeWarp66]

Oh God, where to begin. First of all, 1970's America was littered with stagflation and 18% inflation rates. "the golden age of modern capitalism"? Their is no modern capitalsim, their is only unfettered capitalism or a mixed economy. And it was no golden era. The reason we prospered was because the rest of the industrialized world was crippled from the 2nd world war, so everyone was buying from us! The economy boomed inspite of government controls not because of them.

[pneydavo]

Very interesting analysis

[TimeWarp66]

"You can't have Capitalism on the way up, and Socialism on the way down."

Great line, Newt!

[meowmix66666]

It's Keynesian you jackoff. Maybe if you knew jack shit about economics you wouldn't make idiotic comments about.

[TimeWarp66]

I am well versed on the writing of the voodoo which Dr. John Maynard Keynes. Government intervention in the economy is what got us in the mess to begin with. We don't need anymore debunked Keynesian rubbish.

[meowmix66666]

Are you fucking retarded? We've had free market since Reagan. The relaxed laws that allowed people to take out loans on 300,000 dollar houses while they only have 20,000 is what got us into this bullshit mess. Free market has failed. Face it, Milton Friedman was wrong.

[TimeWarp66]

face/palm

I won't insult your intelligence by suggesting you really believe what you just said.

the leftists in government interfered with markets forcing banks to make loans to deadbeat minorities. All lending standards soon disappeared, and Wall Street merely sought creative ways to spin off all the risk brought by government-encouraged absence of credit standards. Free-reign Capitalism would have served us better than the socialism of the Community Reinvestment Act. Fail

[jackmehoffer68]

Newt has balls and knowledge to back it up. i luv the man

[asbusu]

You know, the right wingers seem to get upset when billions of dollars are invested into the good old U.S.A. Yet, they have no problems giving away billions to other countries that stab us in the back. Or creating endless biilion dollar wars over oil. Bush Sr. gave 30billion to the USSR tword the end of his term. Bush Junior spent Billions in Iraq. So what do you have to say about that? Newt, don't bitch when money is invested into our own country.

[hamace]

money is not being invested, it is being reallocated and borrowed. When we bailed out the USSR it came from the US treasury; not China. Rightwingers are just as upset with Bush as any democrat. But the cure for a corrupt capitalist is not a communist.Let the system collapse so we can fix it .The plan Obama has will surely doom the US.

[john6echo]

Newt is a thinker and knows what's he is talking about. If only Bush has used him wisely instead of listening to all the neo-cons that got us into this mess.

[X23109]

it may do the U.S. a world of good to split up into sections and form up their own mini federal governments. States disband from the union and reunite in sections. That is a very possible scenario.  Well I'm out in the western part of the United States in NV so that scenario will get pretty interesting. Here is to a very unique future indeed :)

[hamace]

Here! Here! I also live in NV. I have been talking about a confederacy for some time.The Fed is a corrupt failure. It helps corps work against us, aids in immigrating slave labor etc etc. Its time for it to end.This is not the nation god blessed.

[X23109]

greetings from the northern NV section. Regardless, I do like where I'm living and probably found one of the cheaper and nicer places on the west coast. I'm looking for a system collapse at anytime, but I'd be looking 1st at an overpowering Congress that will try to tax us more in the home be it monitoring your thermostat to enforcing a Mileage Tax.  It won't work and citizens are really naive. I'd like to see the Feds commit political suicide though and raise the price of gas to $8/gal :)

[yomamanyaa]

FUCK U GINGRICH

[ylan70]

FUCK U OBAMA!

[X23109]

well let's see how much taxes get hiked up in gas prices and everywhere else and see how long politicians stay in office. if the power of the vote still means anything, it will be used come the midterm elections of at the end of Obama's first term. all I can say is the people have spoken and elected Obama for better or for worse. 4 years will tell if Obama was ineffective or not.

[hamace]

I don't have to wait 4 years. Obama is doing so many things to undermine the integrity of this union. He is not my master. He has no authority over me, his supporters will die trying to enforce his agenda.

[Dummerer1]

Isn't the average person caught between 2 evils? Big, greedy business on one side and big government on the other. And before we call the one . right . and the other . left . consider that they are one in the same. I don't know, maybe . big . is somehow at the heart of the real problem.

[amhaire123]

Not exactly, the real issue is human nature in general. People (average citizens, businesses, and government) spend money they dont have.

[X23109]

that was well put. Now how do we get these spenders on a path to better management and enlightenment.

[pandabead]

We need to break up both big government and corporate America. It is nothing but a public scam corporations and they feed off of each other.

[X23109]

I have an idea. Let's dismantle the federal government and let the states govern themselves. I don't see any reason to maintain the salaries of Congress so why not just reduce the influence the feds have over all 50 states as the federal government make come to a point where it is ineffective and obsolete. Sounds as if the Feds have constantly intervened in the free market so why invest in a stock market if companies are never allowed to fail.

[Sage80]

I love "you cannot have capitalism on the way up & socialism on the way down"!

But it's not their fault newt! The lenders made them do it!! The playing field wasnt level!

[Sage80]

I agree, but why did he feel the need to get a shot in at Bush? Too many Republicans feel cool doing that. Cool it newt. You ain't been the POTUS.

[phxfreddy]

Newt knows what he is talking about....unlike Obummer who is clearly out of his depth.

[tjohn43]

Newt is a NWO man. Playing the good cop this time. Don't let the false conservatism fool you. He is a real a-- wipe.

[rodolphesimon]

"Change you can count on" as in "Change you pull out of your pocket and count"

The only stimulus package was the big boner the taxpayer got shafted with.

[onemoreterm]

In Australia they prop up people who are clearly failing and we've gone from, in one year, prosperity and high employment, to debt and the unemployment is growing. Prime Minister Rudd blames America.

[pandabead]

don't worry newt we are now obamacrats now.

[CaliBeach0007]

Newt is awesome! The guy is brilliant. And not to be mean, but Robert Reich ("no white man need apply") can barely see over the table. I think that that is a fitting metaphor for most things on Reich's intellectual horizons.

[countess1900]

Government spending in the 90's is what expanded the internet to what it is today. In the late 80's an internet subscription cost $300 and it was just a flashing cursor on the screen. And guess what Newt opposed the spending because he was busy selling radio stations to foreign interest.

So, was government investment in the internet bad? For those that might be still confused the answer is NO.

[TracyII77]

Actually it was the deregulation of the telephone and cable companies. Government internet has been around for decades, so you cannot credit it them for the hyperjump in technology of the 90's. Once telephone and cable companies were aloud to share technologies, the internet became a viable commodity. The other big break through came from the Pentium chips, when we went from 16-bits to 32 bits. Both allowed for huge increases in data transmission, and later wireless.

[cafelattefuture]

correction on technology, we went from 80286 which is 16 bit to 80386 which is a 32 bit processor the next jump was incorporating the floating point processor (or math co-processor) onto the chip, that was the 80486. The pentium when it first came out was highly flawed, most notably was the FDIV problem it had.

[TracyII77]

Thank you for the correction.

[countess1900]

No Tracy1177 it was not the deregulation of the telephone and cable companies. That deregulation allowed them and other tel/cable companies to compete for subscribers and enter other businesses. If you recall the big Bells did not began offering ISP service until late into the 90's. Believe it or not it was Al Gore that championed government spending in expanding the internet.

[X23109]

lol, so Al Gore did create then internet :)

[pandabead]

Hey you just stated what the constitution has stated for 200 years. The states have the power not the federal government. 28 states are declaring resolutions to do just what you suggested and they have warned obama and congress that is they continue the constitution will be null and void and state will become independent of each other. So get ready!!!

[X23109]

Yeah that is the direction that it might go. I think the reps/senators of each state truly have to remember who they are working for. And if states pull away from the union guess what, that is money we don't have to pay failed representatives/senators. I think these next 4 years are going to be interesting indeed. To point out it is quite possible to form up another federal government with 28 states so what we could see is a western/eastern U.S. type of deal. There are ways to reform.

[X23109]

one more thing as long as we are on the subject, perhaps it is about time that the U.S. drew back from the world scene altogether and go through a major restructuring with states splitting from the union and forming up their own united governments if applicable. I think the continental U.S. is very capable of handling that. Get rid of Washington, D.C. and just start over and pull all our troops back and sell our overseas bases. That and sell off some of our U.S. territories 2 other countries.

[countess1900]

Tracy1177, No it was not the deregulation of the tel/cable companies. Tel/cable deregulation opened up competition and all those companies tried to do was increase subscribers and compete against each other. Believe it or not Al Gore championed additional government spending (on the Gov./university internet) that expanded the internet. If you recall the big Bells did not offer ISP until later in the 90's.

[TracyII77]

Yes it was the degregulation. The internet was transformed when the data was able to be transmitted over cable lines, and when television technologies were being merged with computing technology. And I have had internet service since 1993, and my grandfather had at it evenearlier than that (as one of our country's original programmers), so don't give me the Al Gore invented the internet crap.

[jedmarum]

Right on Newt!

[pandabead]

Newt Gingrich is a great fiscally responsible conservative and he should be advising the president. Obama is a moron. He was talking tonight and contradicting himself and saying this bill was not pork laden. What?

[SlackJawedJackal]

This is a Midwest/Northeast regional stimilus package. It will work, it always has. Every since the politicians and business leaders from this area of the country realized, they had the political power, to vote themselves wealth from the public treasury. In their minds it works!

Doesn't matter that there's a child on a reservation in Utah going without shoes or proper clothing, they're eating steak in the Midwest, D.C.and N.Y. the stimulus does what it's meant to do! What it has always done!

[EvilMongrelMonkey]

And everyone thought that McCain was Bush part Deux.... Obama is filling that role quite nicely. YOU ALL SHOULD HAVE VOTED FOR RON PAUL!!!! Idiots.

[char4him99]

AMEN TO THAT.. Look what we got going here. Check out Glen Beck's Socialism is coming .. Funny and tragic at the same time. Had someone say to me the other day that Capitalism wasn't that great anyway.. ARE THEY SERIOUS?? It only produced one of the strongest, most free countries on the earth!!! It seems to be in its death throes at the moment tho. But I am not giving up. How did we get Mccain BTW??????

[EvilMongrelMonkey]

We got McCain because a bunch of liberal activists voted in every primary they could get into. I actually know some extreme leftist activists who's job it was to organize a campaign to get our weakest candidate nominated so theirs would sail through. McCain can't speak in public. McCain is a bozo and a RINO. He was picked because Republicans are too trusting and let liberals vote in primarys.

[Nickk361]

We are fucked in 2012 if Obama takes contol over the Census

[clemtoe]

that's a nonsense myth hardliners are telling themselves. the left's version of "operation chaos" was focused on voting for romney against mccain and petered out after michigan, having basically no effect. the hardliners didn't get who they wanted because they didn't know who they wanted. they spent 80% of the campaign backing fred before he pullled out and spent the remaining time wrestling over whether romney or huckabee was the realest "real" conservative.

[clemtoe]

in the meantime, the grownups showed up at the polls and voted for the guy they trusted to responsably steward the conclusion of the iraq war and who had some bipartisan cred in a time when the gop brand was in decline.

[pandabead]

That is because the person who said that is ignorant. There new progressives who don't want capitalism. but they will soon learn that socialism is even worse. just let this run its course and there will be a pendulum swing back to reagan ideology that was successful.

[clemtoe]

we do have to keep learning the same lessons over and over again. leave aside socialism, keynesianism is the beast that will not die because statists derive their power from confiscation and patronage.

[utubefavorsdems]

Soon the Worst President Of The United States trophy will be given to Obama.

Bullsh@t we can believe in.

Change and Hope.... Nope

Obama's a Dope

[char4him99]

RIGHT ON..

[clhoyt1003]

Newt for PREZ in 2012!

[Nickk361]

Jidal & Gingrich or

Gingrich & Huckabee in 2012

[clemtoe]

how about never huckabee and let jindal prove himself in at least one full term in office before we graduate him to palin 2?

[bertly71]

I could not have said it better. These bailouts are thinly disguised political payoffs to get re elected. I am glad only to RINO senators peeled off to vote for this inflationary, debt increasing grab of power. It will hurt the economy and worst of all, taxpayers.

[menana2u]

This is a simple logic as used in the disciplining of children.

When rewarded for bad behavior, the child will not learn from his mistakes, & continue to repeat them. Had the child been allowed to fail or be punished, he would pick himself up, & learn from his mistakes, and prosper. Obviously children are smarter than the big execs!

This is change & hope we can believe in? This is change from capitolism, to socialism. Unless something can be done, our hope is gone.

Thanks!

[RestrainedNoMore]

Thank you!!!!

[truthsabre7]

SAO PAULO -- General Motors plans to invest $1 billion in Brazil to avoid the kind of problems the U.S. automaker is facing in its home market, said the beleaguered car maker.

According to the president of GM Brazil-Mercosur, Jaime Ardila, the funding will come from the package of financial aid that the manufacturer will receive from the U.S. government and will be used to "complete the renovation of the line of products up to 2012."

Latin American Herald Tribune 2/9/09

[CRAPCANNONS]

Robert Reich and Madeleine Albright should get together and breed perverse little stink-dwarves.

[clhoyt1003]

LoL! @ CRAPCANNONS "stink-dwarves" comment

[FarFromEquilibrium]

"allow people who have failed to fail"... why is this so difficult for people to understand. the a priori that 'something must be done.. (read: 'by govt and in the interest of making failures fail a little later and at enormous costs') is the most simple minded metallity. its primitive, reflexive thinking, not good enough for the modern world.

[CRAPCANNONS]

Because it confounds the left.

On the left, no one should be allowed to fail, but no one should be allowed to succeed either.

Everyone should hold hands, sharing mediocrity.

[geargemartin]

this is no stimulus plan. this is obamas plan 9 from outer space.