Obama and Democrats Plan $500B Economic Package

Discussion in 'Economy' started by WillowTree, Nov 25, 2008.

  1. WillowTree
    Online

    WillowTree Diamond Member

    Joined:
    Sep 15, 2008
    Messages:
    68,192
    Thanks Received:
    10,174
    Trophy Points:
    2,030
    Ratings:
    +14,769
    WASHINGTON -- Congressional Democrats and President-elect Barack Obama are laying the groundwork for quick enactment in January of a giant, two-year economic rescue package that will total about a half-trillion dollars.

    His economic team in place, Obama has tasked his aides with assembling an ambitious measure to not only swiftly pump money into the battered economy, but also create 2.5 million new jobs, send a tax cut to the poor and middle class, and make massive government investments in energy-saving and other technologies designed to pay for themselves in the long run.

    Some senior Democratic lawmakers put the cost of the package as high as $700 billion, a figure Obama's team calls premature and several Democratic aides said was unlikely. One top Democratic congressional official, speaking on condition of anonymity because talks on the economic rescue measure are ongoing, said it will probably cost between $400 billion and $500 billion over two years.

    Obama and Democrats Plan $500B Economic Package - FOXNews.com Transition Tracker





    Not even sworn in and already a whopping 1/2 trillion dollars in his budget,, and that dosen't even account for the tax breaks he promised,, our new wonderful just like he has health care,,,global poverty and Iraq,, he ain't gonna pull you lefties outta Iraq either.. Isn't this exciting.. I love fiscal responsibility don't you? today another news conference he's gonna tell us Americans how much we are going to "sacrifice" but his kids are going to private schools, and he will drive limousines, and private jumbo jets" but we're gonna sacrifice.. hhhhhmmmm! but he understands the middle class, he dosen't give a damn but he understands."
     
  2. DavidS
    Offline

    DavidS Anti-Tea Party Member

    Joined:
    Sep 7, 2008
    Messages:
    9,811
    Thanks Received:
    766
    Trophy Points:
    48
    Location:
    New York, NY
    Ratings:
    +767
    Would you rather him wait until he's on the job and plan then and maybe we get something done in March? Stop looking for excuses to bash him.
     
  3. busara
    Offline

    busara wanasiasa wapumbava

    Joined:
    May 7, 2008
    Messages:
    1,501
    Thanks Received:
    87
    Trophy Points:
    48
    Location:
    PA
    Ratings:
    +87
    sounds like that does account for the tax breaks he promised, willow.

    the article does mention him stressing the need for budget cuts. heres hoping he actually follows through and cuts programs which we cant afford to keep
     
  4. WillowTree
    Online

    WillowTree Diamond Member

    Joined:
    Sep 15, 2008
    Messages:
    68,192
    Thanks Received:
    10,174
    Trophy Points:
    2,030
    Ratings:
    +14,769



    won't it be fun to see who gets the axe? you can bet your bottom it won't be illegals.. jez saying!
     
  5. Andrew2382
    Offline

    Andrew2382 Gold Member

    Joined:
    Oct 1, 2008
    Messages:
    3,994
    Thanks Received:
    530
    Trophy Points:
    153
    Ratings:
    +537
    can I just get a million dollars.

    please
    they won't even notice it from that amount of money
     
  6. dilloduck
    Offline

    dilloduck Diamond Member

    Joined:
    May 8, 2004
    Messages:
    53,240
    Thanks Received:
    5,552
    Trophy Points:
    1,850
    Location:
    Austin, TX
    Ratings:
    +6,403
    Just where do they plan on getting the money for these massive investments. Who is going to determine which companies will be the recipients of these investments and who are we going to sell the final products to ? ( I think I'd like a better defintition of 'long run' too.)
     
  7. KMAN
    Offline

    KMAN Senior Member

    Joined:
    Jul 9, 2008
    Messages:
    2,683
    Thanks Received:
    268
    Trophy Points:
    48
    Ratings:
    +269
    I continue to find it funny/idiotic that some people are all for these bailouts and stimulus packages as if the government is just giving out free money...NEWSFLASH! This is OUR money they are giving out.... It's amazing how generous people can be giving out other people's money... LOL
     
  8. WillowTree
    Online

    WillowTree Diamond Member

    Joined:
    Sep 15, 2008
    Messages:
    68,192
    Thanks Received:
    10,174
    Trophy Points:
    2,030
    Ratings:
    +14,769


    from the very same place Boooosh got it from.. China methinks.. but but but but "Change We Can Believe IN" :lol: "We are the one's we've been waiting for,""" :lol::doubt::lol::doubt::eusa_liar::eusa_liar:
     
    Last edited: Nov 25, 2008
  9. dilloduck
    Offline

    dilloduck Diamond Member

    Joined:
    May 8, 2004
    Messages:
    53,240
    Thanks Received:
    5,552
    Trophy Points:
    1,850
    Location:
    Austin, TX
    Ratings:
    +6,403
    They're just putting it all on a big credit card that has all of our names on it.
    I wanna see the fine print and find out who we send our payments to and what kind or interest rate we have.
     
  10. user_name_guest
    Offline

    user_name_guest Member

    Joined:
    Sep 19, 2008
    Messages:
    704
    Thanks Received:
    43
    Trophy Points:
    16
    Ratings:
    +43
    So do they have the $500 billion in Treasury to make this happen? Now how are they going to come up with the money if they are broke? Borrow? From whom? Rich people? In what return? Interest payments? Rich people going to get richer from this deal. Maybe they can cover the additional taxes they are going to pay when Obama raises their marginal tax brackets.
     

Share This Page