Stimulus Anniversary: Gone, But Not Forgotten

Discussion in 'Economy' started by mascale, Feb 17, 2010.

  1. mascale
    Offline

    mascale VIP Member

    Joined:
    Feb 22, 2009
    Messages:
    4,035
    Thanks Received:
    210
    Trophy Points:
    85
    Ratings:
    +453
    So February 17, 2010, is Stimulus Anniversary Date, and the annual accounting reports that most of it will happen in the next few months.

    http://www.whitehouse.gov/sites/default/files/20100216-annual-report-progress-recovery-act.pdf

    More of it, in fact, actually got out the door than Congressional Budget Office had expected.

    Some of the spending is committed to beyond 2010. It is elsewhere reported that even China is playing international finance--With its valuable new credit market paper.

    What is not reported is that the Obama-Biden, Stimulus Credits, are separate from the TARP Credit Actions, which themselves are separate from the Credit Actions of the Federal Reserve Board, which themselves are separate from the Bush Administration tax rebate program--which had no money to pay them. Those had nothing to do with the more directly Socialist, Credit Market activity of the various other nations.

    Adam Smith could never begin to explain how any of that could even happen in a dreamworld. The Old Soviet Bloc had no clue about it either. Those old systems were based upon the logically false concept that when the rich get richer, and the poor get poorer: Then all economies are all better off!

    And so the contrarian view is called, "recent current events!" The older ways clearly haven't worked, and the older ways imbedded have yet to be changed.

    That is about arithmetic. That is not about "Historical Dialectics." That is not about an "Invisible Hand(?)" working on the economy. Anyone would guess that it doesn't take a negro dialect: To figure that out!

    In fact no one discusses it, and in fact it is widely conceded that the depth of the crisis was widely understated in prevailing economic models, and thinking(?).

    "Crow, James Crow: Shaken, Not Stirred!"
    (And the actual meaning of, "Change You Can Believe In," is clarified as "Belief Change You Can Even Live With!")
     
    Last edited: Feb 17, 2010
  2. Oddball
    Offline

    Oddball BANNED Supporting Member

    Joined:
    Jan 3, 2009
    Messages:
    41,428
    Thanks Received:
    8,397
    Trophy Points:
    0
    Location:
    Drinking wine, eating cheese, catching rays
    Ratings:
    +8,409
    [​IMG]
     
  3. mascale
    Offline

    mascale VIP Member

    Joined:
    Feb 22, 2009
    Messages:
    4,035
    Thanks Received:
    210
    Trophy Points:
    85
    Ratings:
    +453
    Notice that only 57% of the stimulus is out the door, with payroll losses declining directly, and new weekly jobless claims declining directly: And so the progress from the GOP induced, rich-getting-richer, poor-getting-poorer, economic, financial meltdown continues!

    "A primary goal of the Act was to get money into the economy in a rapid and responsible manner. Spending was intended to move out quickly but its primary impact was designed to be felt over a roughly a two year period. As of the end of January, the Recovery Act has obligated a total of $334 billion in spending, outlayed $179 billion of that amount, and provided an estimated $119 billion in tax relief for families across the country. Thus, $453 billion, or 57 percent of the $787 billion total, as estimated at enactment, has been put to work in the economy, providing immediate rescue for those suffering the most, rebuilding our nation’s infrastructure, building industries of the future, and providing much needed tax relief including cuts for 95 percent of working families."

    The Stimulus had three parts, and was intended to be spread over two years.

    "Notwithstanding this progress, the nature of the Recovery Act remains misunderstood by many, and misconstrued by others: critics have suggested that the entire $787 billion is being spent on earmarked programs. Instead, the Recovery Act is divided into three roughly equal parts: tax relief, direct aid to states and individuals (or “payments”), and projects that not only help rebuild today’s infrastructure, but also invest in the industries of tomorrow. And it has no earmarks."

    Noted in the OP, the amount and the various arithmetic are historically unprecedented. The explanation is simple, but academics won't allow it: Commencing 35 years ago, at now infamous Department of Political Science, Indiana University, Bloomington Campus, USA. There is now even a Nobel Laureate there, and even from that time frame.

    Anyone can spot that a Department of Economics was not invovled.

    In fact, the White House itself has noted that the depth of the downtown was never fully understood.

    "Teaching is not possible, at any grade level, without the doctoral degree: Unless it is believed that some kids ar better than other kids, and the all the other kids are not worth the extra effort."

    Troops even now being killed and wounded from all sides(?) in the Middle East: Don't know even now, (where applicable), about the alternative that wasn't allowed!

    GOP sent them there, anyway.

    "Crow, James Crow: Shaken, Not Stirred!"
    (Long Knives Of Yellow Hair: Not Too Smart, Either! Real Pro Golfers now have their Abortions aired on Fox! On Fox, apparently, Negro Dialect maybe help! Ask Writer's Guild(?) Hmmmm!)
     
    Last edited: Feb 17, 2010

Share This Page