Stimulus Plan; Net Job Loss. None-Stimulus Bill is Bad for America; Pork and Earmarks

Rep. Dave Camp is right, this pork filled government-growing so called Stimulus Bill will not work, and in fact may do harm in the long run. Will someone please explain to me America's road map to long term prosperity, because I don't see it? And then after you've done that, you can explain to me how this spending bill will lead us in that direction.

Can you say pork? Can you say big government? Can you say deficit? Can you say irresponsible, inept representatives? If you can say these things, and understand there implications on the long term financial health of our country, then you know that we need to get our act together, and that does'nt include adding another trillion dollars of debt to our tab.
jbranstetter04




Debt and Deficit
The House and Senate may soon be asked to vote on economic stimulus legislation with a price tag near or exceeding $1 trillion over two years. It may even sooner vote on a resolution to release the second half of TARP funding, or $350 billion. Revenues will be down this year and next by percentages that few active Members of Congress have ever seen, and this Congress will find itself creating more debt more rapidly than any Congress in U.S. history just to meet current expenses.
However, the U.S. government is not alone in borrowing to stimulate its economy and to pay for current services. Every major economy, including the Asian giants, is in recession. Every government is borrowing or creating money and credit at historic levels. Furthermore, over the next three decades the need to find lenders to pay for promised income and health programs for retirees will only increase, particularly among those countries that experienced unusually rapid population growth following World War II.
Indeed, last spring one of the world's leading credit rating agencies suggested that continued failure to reform entitlement programs would lead to such excessive spending and debt that U.S. bonds could well be downgraded to junk status.
While many Members are working to avoid this financial calamity, few have addressed the economic harm that massive borrowing will produce.
The Numbers of Debt and Deficit
Where is our nation in terms of the annual surplus or deficit and the total amount of U.S. debt?
First, the annual surplus or deficit:
•In FY 2000, the federal government had a surplus of $189 billion (as measured in the National Income and Product Accounts).
•In FY 2008, that deficit stood at $541 billion.
•Given the slow economy, the deficit will likely grow to $941 billion (including the second installment of TARP funds).
•If Congress passes an $800 billion, two-year stimulus bill, that deficit in FY 2009 could stand at $1.31 trillion and for FY 2010 could be $1.27 trillion.
•As a percent of GDP, the FY 2009 deficit could be 9.2 percent of GDP, and the FY 2010 could be 8.7 percent of GDP.
Second, the total amount of federal government debt:
•In 2000, total federal government debt stood at $5.7 trillion, or 58 percent of GDP.
•By 2008, that debt had grown to $10 trillion, or 70 percent of GDP.
•If Congress borrows the funds for its economic stimulus plan, total debt could grow to $13 trillion in FY 2009, or 92 percent of GDP.
•By 2010, total debt could grow to $14 trillion, or 95 percent of GDP.
http://www.speroforum.com/a/17708/Economic-stimulus-drives-deficit-and-debt

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[Strongtuit]

The anti-American liberal bedwetting moonbats have just murdered America. Friday the 13'th Feburary 2009.

RIP America.

[cookeladoo]

Sounds like America is flying blind??

How on earth can a Government get away with taking billions from people without gun smoke filling the air? It appear the Political system is corrupt

[bubba007ss]

@mccainisthrough Are you sure about all that?

[BeantownJim]

Hope and Change! hahahaha

[oc5nsli341nforce4]

A cruel world we live in where the village idiot can be the leader of what was once the free world. :(

[mccainisthrough]

bush and cheney caused the job loss. Under bush and the gop, unemployment reached levels not seen since 1933. And these assholes weren't even elected. bush and cheney need to be tried and prosecuted for their War Crimes, and hung publicly!

[HusseinsBrownShirts]

So true.

What the war in Iraq is costing wouldn't amount to a pimple on President Bush's ass compared to what the Marxist Hussein is spending in his orgy of waste.

Hussein doesn't know the meaning of responsibility and now the commies who voted him in office, have handed him the keys to the printing presses and he intends to wear them out printing 100 dollar bills for the boys in the hood and his campaign contributors.

[oc5nsli341nforce4]

RIP America

[andrew19k]

"You can't even from sentences properly. It's people like you that are polluting the political climate of america. " dude.. please do us a favor and stop blindly following your government. fucking sheep

[andrew19k]

Yeah, I will say about 80% off all Democratic politicians are corrupt. Hell, Obama is having trouble finding one who pays taxes! lol

[BAILOUTMONEY]

America - YOU ARE INVITED - to join my experimental protest in support of Money to the people..... answer one simple question: "How would you spend $297,000 dollars?" email your video responses to me or upload them to YouTube so I can add them to my favorites.

The Gov. is giving out this money with out knowing how it will spend or IF it will work...lets tell em how we would spend it to show if we got the money THIS CRAZY IDEA WOULD WORK AND FIX THE ECONOMY!!!