House Majority Leader open to second stimulus bill

Discussion in 'Congress' started by Gunny, Jul 9, 2009.

  1. Gunny
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    Gunny Gold Member

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    As predicted. The beginning squeaks of Round Two. Wonder what we'll pay this for and who we'll sell the notes out to this time?
     
  2. Midnight Marauder
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    Midnight Marauder BANNED

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    Who was it that defined insanity as repeating what doesn't work, expecting it to somehow work this time? I predicted this as well, way back when "stimulus" one was being debated:

    http://eipnetworks.com/scamwow.mp3
     
    Last edited: Jul 9, 2009
  3. Sarah G
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    Sarah G When Nothing Goes Right, Go Left Supporting Member

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    One of the issues from the first round was that it wasn't going to be enough.

    From February:

    Plus we have healthcare..
     
  4. editec
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    editec Mr. Forgot-it-All

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    Good news!

    Inflation is our friend, chums.
     
  5. Midnight Marauder
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    Midnight Marauder BANNED

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    I actually think that's the plan, to inflate our way out of this debt. Of course, the Chinese and other bondholders funding our massive debt won't stand for that. When they call in the markers, what are we going to do?

    They're already significantly backing off any new investment.
     
  6. Terry
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    Terry Shut the $%$ Up!

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    My guess is Acorn has a few new subsidiary's and now needs money.
     
  7. Midnight Marauder
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    Midnight Marauder BANNED

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    I guess you saw that they changed their name and are busy playing little shell games with the money?

    New name is, "Community Organizers International."
     
  8. Annie
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    Annie Diamond Member

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    Indeed:

    Barney Frank: Let's spend TARP profits before taxpayers can get them | Washington Examiner

     
  9. Baruch Menachem
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    Baruch Menachem '

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    It worked so well the last time. Lets do it again again and get the same results!


    What actually might work better is a variation on the earned income credit. All persons who qualify (Iie, working poor) would get a $.50 per hour bonus check for six months.

    Or maybe a three tier social security tax. Low income people don't live as long, so they aren't going to collect much anyway. You might as well give them a discount of 20%. Both employer and employee side. Anyone who gets less than 125% of minimum wage pays in a lower social security. Since this group A) has a consumption function of almost 100, and B) badly needs the money and C) will spend the money on useful goods, this will probably be the most stimulative thing we can do.

    Of course, this has to be short term, and as this is a direct stimulus, we might as well continue the fiction that money should be paid into the social security system, the government should transfer funds into the trust fund as the program runs.

    The neat thing is, it will directly increase income for those who need it, and reduce employment costs.
    Just like the wonderful delightful great and marvelous tax cut that 0bama delivered to us after the election, the amount won't be a lot (about 56 cents an hour for someone working minimum wage) so using the same logic, it will have more directly stimulative
    effect. And it would also be a 56 cent an hour subsidy for employers. They might hire more workers that way.
     

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