Dems wasteful spending

Discussion in 'Economy' started by Wow, Jul 23, 2008.

  1. Wow
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    Wow BANNED

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    Democrats are going to saddle our grandchildren with massive debt. :eek:
    This stimulus will not have any affect for several years.
    Democrats are ruining America with wasteful pet projects.

    Pelosi eyes $50 billion in new economic stimulus | Politics | Reuters
    By JoAnne Allen

    WASHINGTON (Reuters) - House of Representatives Speaker Nancy Pelosi said on Thursday she is pushing for about $50 billion in a second election-year economic stimulus package being shaped by Democrats in Congress.

    In January and February, the White House and congressional Republicans displayed rare bipartisanship when they worked to enact a $152 billion plan, mostly tax rebates, to stimulate the economy by trying to boost consumer spending.

    Leaders in the House and Senate are discussing with key committee chairmen another emergency spending bill that would again aim to spur the economy and help those hurt by the economic slowdown.

    "I would hope that we could have about $50 billion," Pelosi, a California Democrat, said in an interview on CNN.

    "There are others who want more, but I think in these stimulus packages, you have to look at what helps stimulate the economy without spending more money than you should because you weight the economy down by going deeper into debt," she said.

    If a second economic stimulus bill advances and it follows the formula of emergency measures enacted this year, the new stimulus would add to already steep deficits that worry fiscal conservatives.

    Pelosi told CNN she believes there are enough votes in the House and Senate to pass a new stimulus package. Democrats are not counting on support from President George W. Bush this time.

    Backed by fellow Republicans in Congress, Bush has indicated he wants to wait and see how the first stimulus package works before looking at another one.
     
    Last edited: Jul 23, 2008
  2. Charles_Main
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    Charles_Main AR15 Owner

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    You really should put stuff you copy and paste into quotes, or use the quote feature.
     
  3. busara
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    busara wanasiasa wapumbava

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    and what about the repubs wasteful spending huh? which administrations have piled up the largest amount of debt?
     
  4. Paulie
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    Paulie Platinum Member

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    This is a sign of the times. Another 50 billion in deficit spending, huh?

    Why don't we just wait until the international community sends their Dollars back here en masse, and then we'll have PLENTY to spend! :rolleyes:
     
  5. busara
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    busara wanasiasa wapumbava

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    im ready to put all my savings into gold or silver if needed, or maybe just a fancy platinum ring. but massive inflation would help me with my student loans as well, so i'm torn :razz:
     
  6. editec
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    editec Mr. Forgot-it-All

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    Hyper-infaltion is the friend of the debtor class, folks.

    Stagflation is the enemy of all.
     
  7. Paulie
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    Paulie Platinum Member

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    Gold and silver are always great to protect your wealth. I would also recommend foreign currency denominated securities as well.

    Check out http://www.everbank.com. You can invest in interest gaining instruments denominated in precious metals, foreign currencies, and foreign equities. They are very safe, too.

    Investing your savings isn't going to change the fact that you will still benefit from the inflation, in regards to your debt.

    Pay your high interest, unsecured debt off in a manner that you can afford, and put aside whatever cash you can afford to keep aside, in something like precious metals and the other things I suggested.
     
    Last edited: Jul 24, 2008
  8. sealybobo
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    sealybobo Diamond Member

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    2005:

    AT $286.4 BILLION, the highway bill just passed by Congress is the most expensive public works legislation in US history. In addition to funding the interstate highway system and other federal transportation programs, it sets a new record for pork-barrel spending, earmarking $24 billion for a staggering 6,376 pet projects, spread among virtually every congressional district in the land. The enormous bill -- 1,752 pages long -- wasn't made public until just before it was brought to a vote, and so, as The New York Times noted, ''it is safe to bet that none of the lawmakers, not even the main authors, had read the entire package."

    That didn't stop them from voting for it. It passed 412 to 8 in the House, 91 to 4 in the Senate.

    The Republican pork barrel - The Boston Globe
     
  9. sealybobo
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    sealybobo Diamond Member

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    'Pork Barrel' Spending Hit Record High in 2005

    And then they broke their own record in 2006

    FOXNews.com - 'Pork Barrel' Spending Hit Record High in 2005, Watchdog Says - Politics | Republican Party | Democratic Party | Political Spectrum

    what the fuck are you talking about wow?
     
  10. Wow
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    Wow BANNED

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