Obama signs stimulus bill

President Obama has signed into the law the $US 787 billion economic stimulus package, predicting the package marked ``the beginning of the end'' of America's worst economic slide since the 1930s-era Great Depression.

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News & Politics

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• Barack
• Obama
• economic
• stimulus
• package
• slide
• Great
• Depression

[hookalakah]

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

[Gracelandification]

3/3

The simple reason government spending fails to end recessions is that Congress does not have a vault of money waiting to be distributed. Every dollar Congress “injects” into the economy must first be taxed or borrowed out of the economy. No new income, and therefore no new demand, is created. They are merely redistributed from one group of people to another. Congress cannot create new purchasing power out of thin air.

[Gracelandification]

2/3

This is no longer a theoretical exercise. The idea that increased deficit spending can cure recessions has been tested, and it has failed. If growing the economy were as simple as expanding government spending and deficits, then Italy, France, and Germany would be the global economic kings. And there would be no reason to stop at $787 billion: Congress could guarantee unlimited prosperity by endlessly borrowing and spending trillions of dollars.

[Gracelandification]

1 /3

nrd.nationalreview com/article/?q=MTViNmZiZmQ4NmM­xM2Y5NmEzNWIwYWRmNmNhMWJlY2I=

$787 billion (actually $862 B) “stimulus” a flop. In a January report, White House economists predicted the bill would create (not merely save) 3.3 million jobs. Since then, 2.8 million jobs have been lost, pushing unemployment toward 10 percent.

[john123wayne]

0:24

"we are putting americans back to work". that was feb. 2009

it is now dec. 2009 and they just passed ANOTHER 155 BILLION job create bill.

so.......america....there is your hope and change at work.

ps. i voted ron paul and you should have too.

[americaincorporated]

That is why our "democracy" will never work. People dont know what the fuck they want. They just get caught up in chanting cliches and endulging in group mentality.

[thordoggie]

man, there's a LOT of stupid in america anymore...the shame is, the stupid don't know who they are.

let me give you a clue...if you voted for obama...

[thordoggie]

the compliment i hear most about obama is " he was a community organizer"

we elected a man with a megaphone. now he's an expert on banking? auto industry? Energy production?

you have an incompetent running your life now. he says " I want to give you this", he's REALLY saying, "i'm going to confiscate THIS from someone else, and you now have the honor of grovelling at my feet for a a small portion of this"

You are now obama's slave

Old man river...lift that bar, tote that bale.

[SpectrumRob]

Really... How many promises has Mr. Teleprompter broken already???

[pubsterguy]

SHUT THE HELL UP YOU ASS