Spending like Drunken Sailors

At Least Sailors spend their own money! President Obama signed the economic stimulus bill into law, making this the American government's second epic attempt to bail out the economy after years of over-consumption that produced a housing and debt bubble larger than the titanic.

While the real Obama announced that Treasury Secretary Timothy Geithner is preparing a new strategy for reviving our financial system, and urged the swift passage of an American Recovery and Reinvestment Plan, Americans are wondering if the economic stimulus, our financial bail-out, will work.

In this Bail Out video we here from Congressman Ron Paul, Obama and even go back to when Bush first sounded the alarm. Will the recession become and depression, based largely on the government panicking which stifled consumer spending?

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Category:

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Tags:

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• spending

[YesOkayYNot]

I will not work and pay other people's mortgages. I live modestly and these people had to have a McMansion they couldn't afford. Lose it. Start over. Lesson learned.

[annielwhite]

i say its people fault for buying a 400k house when they only make 20 dollars hour. governments fault for getting involved

[KingTroIl]

@annielwhite 20$ an hour isn't bad. 40 hour week = 800 $ a week. 4 weeks 3,200$. I rent my home which is worth 500,000$ for 1,300 and it comes with a garage 2 bedrooms a kitchen a basement dining room and living room.

[sumokiller]

@FouchJustin191 One flaw to your logic...why would foreign companies choose to enter the US when the US is determined to set high tax tariffs on their goods? and IF the foreign companies DO choose to still enter, their goods would be significantly marked up and would not be able to remain competitive. This would most likely result in the foreign companies' retreat.

[trick29420]

" the federal government is the only one left with resources to prevent a crisis"... A PRINTING PRESS IS NOT A RESOURCE!!!!!!! dick.

[FouchJustin191]

Debt and China/ dealt with in the next 5 or 10 years, maybe less.

Unemployment drops 5% or more.

Americans more optimistic about spending and saving.

Value of the dollar increases allowing us to pay our debts faster.

Economy solved. This of course is just a theory, but I believe that this could work.

[FouchJustin191]

In my opinion, what we need to do is in order to revieve our economy is to A, keep tax rates up in order to repay our 14 trillion dollar debts but with no more spending by the government. Allow foriegn companies to come here in the US, but put heavy tax tarrifs on their goods, while at the same time use their corperations to create millions of jobs here in the US, as a result the US Dollar becomes more powerful, low morgage rates, unemployment drops to 5% or less, goods are more afforible.

[onstageagain]

@conservative608 Donald Rumsfeld Was on David Letterman last night, the last part of the guest appearance he spoke of Presidents from Ike Eisenhower on down to Obama... a must see about these men and in the end speaking of Obama... please watch this U tube short video.

Our spending is out of control... we cannot make it doing this. spending and printing paper.

Donald Rumsfeld - Known And Unknown *Interview (Feb.21/11) Part 2

[RedDaVincy]

Yep that sure was a meltdown of a recession or whatever. His Holiness Ron Paul II must be some kind of genius or genie.