Obama unveils new 50-billion-dollar infrastructure plan

Discussion in 'Economy' started by Trajan, Sep 6, 2010.

  1. Trajan
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    Trajan conscientia mille testes

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    Fox has him on in Wisconsin ( unemployment rate 15%) now telling us how hes gonna spend another 50 Billion for you know, jobs....more of the same.

    They say that the money will come from gas and oil co. tax breaks being cut.

    Well he can't spend it as a deficit charge because hes afraid the senate and house won't pass it, so what he unwittingly will do is by virtue of losing those breaks, these co's will cut prgm.s that utilize those tax breaks , there by not providing that tax revenue he thinks he'll get to a large extent and increase cost of petroleum product;, gas, plastics etc.. Wonderful.


    We already did this, didn't we?

    We spent then monetized 850 Billion dollars based on the stimulus which was supposed to build, rebuild- US roads, railways and airports, plus weatherization and the like. The not so secret secret is only 5% of the stimulus money was spent on these items.....so here we are again.

    And the help is spread out over 6 years??? whatever.....

    If its one thing I expected when Obama was elected, it was that he would at least think outside the box. Instead, we got the same old same old, i chalk that up to the morphine drip of Mainstream media sheeple-spiel telling me how intelligent and different he was.

    I didn't vote for him, but I have to live with him......I need Ob-Anon.........:booze:


    Clueless, absolutely clueless.


    Obama unveils new 50-billion-dollar infrastructure plan


    WASHINGTON (AFP) – US President Barack Obama unveiled plans Monday to spend at least 50 billion dollars to expand and renew US roads, railways and airports, in a fresh bid to fire up sluggish economic growth.

    Obama, under intense pressure over a sputtering economy ahead of November's mid-term congressional elections, in which his Democrats fear heavy losses, was set to formally announce the new funding in a speech in Wisconsin.

    The event, marking Labor Day, the traditional kick-off for US election campaigns, heralds a week in which Obama also travels to another struggling state, Ohio, and holds a press conference in a bid to ease his political woes.

    The White House hopes to win quick passage of the 50 billion dollar measure, which would be the "front-loaded" first part of a broader measure to reauthorize transportation funding over the coming six years.

    "We'd like to pass this as quickly as possible," a senior administration official told journalists ahead of the president's announcement.

    "The economy needs additional investment as quickly as possible, but we want to do something that will help the economy over the next six years."


    The official said the new projects would be funded, without increasing the deficit, by ending various tax breaks for oil and gas companies.

    Obama unveils new 50-billion-dollar infrastructure plan - Yahoo! News
     
    Last edited: Sep 6, 2010
  2. elvis
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    elvis BANNED Supporting Member

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    more money we don't have.
     
  3. Baruch Menachem
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    Baruch Menachem '

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    Typical election year stuff. And the stimulus was supposed to take care of this anyway.
     
  4. Oddball
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    Oddball BANNED Supporting Member

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    Let me translate a favorite word of politicalese for y'all...

    Infrastructure = Pork barrel projects
     
  5. boedicca
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    boedicca Uppity Water Nymph Supporting Member

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    There's over $130B left of the original Stimulus bill of the portion that was allocated to contracts, grants, and loans (this was supposed to be for infrastructure projects). Why isn't this money being spent on the burning critical projects for which Obama is seeking $50B?
     
  6. Charles_Main
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    Charles_Main AR15 Owner

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    This kind of spending is not only 50% waste and inefficient, but it can only at best make things a tiny bit better for a SHORT amount of time.

    The only real to generate real growth is to encourage Private sector Growth. More government spending on construction projects WILL NOT DO IT.
     
  7. Trajan
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    Trajan conscientia mille testes

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    That was set aside for the mid terms and has been for a while. They'll spend it, they will direct it to districts were they think thy have chance of holding a seat they may otherwise lose. The Big P can mean a lot of votes..Patronage.
     

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