Will Economic Stimulus Bill Do the Job?

Discussion in 'Current Events' started by JimofPennsylvan, Feb 9, 2009.

  1. JimofPennsylvan
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    JimofPennsylvan VIP Member

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    The big question that hasn’t been really focused on about the Economic Stimulus Legislation currently working its way through Congress is Will It Work? And unfortunately the answer is No at least not like the American people expect it to! Up to this point the public debate has mostly been about is it right to put this or that in the bill what does each party think about or want in the bill and things like that. But on the question of whether or not this piece of legislation will correct the economy there is nothing that the legislation offers in part or whole that one can say confidently it will likely do so.

    The problem with this legislation on this front is it doesn’t offer that injection of economic activity into the economy that one can say yes that will put the economy on the normal track again. To get to the heart of the matter, the area in the bill which offered the hope of doing this task is the infrastructure spending. Unfortunately, though the infrastructure spending in the bill is too weak. It doesn’t in fact or in reputation equate to that huge amount of economic activity that will drive the economy into a normal state. The interesting twist about this whole point is that members of Congress know this and they are still going to pass this lousy bill anyway; this is evident by the amendment the Senate Democrats offered to increase infrastructure spending by twenty-five billion dollars which didn’t pass –why don’t they continue to fight making this specific issue really public do some horse trading with Republicans over this Amendment God knows the Republicans have enough concerns over this bill where a deal could be reached. The only other major economic crisis the country experienced to rival the present crisis since the Great Depression was the recession in the early 1980’s. I have not researched the exact numbers but having lived through it I can say with certainty that a critical element to the country’s recovery at that time was the government dramatic increase in military spending – airplanes, ships, etc. Aside from the dollar figures from a national mood or national confidence standpoint this government military spending initiative at that time was completely transforming in a positive sense. This economic recovery legislation doesn’t do that it is underwhelming in its infrastructure spending; the reputation this bill has in these industries that have an economic vested interest in infrastructure spending is that the government is throwing peanuts at the problem. The bill is a let down, a lot of hot air, as an economic stimulus bill.

    In the media and amongst the big wigs in Washington they like to perpetuate that Speaker Pelosi, Majority Leader Reid and President Obama are in the driver’s seat on this legislation they have the power on passing this piece of legislation. Wisdom indicates that without a doubt, the power with respect to this legislation rests with the moderate Democrats in the House and the moderate Democrats in the Senate. This is because a stimulus bill has to pass and become law the major political players have been saying it, the economic experts have been saying it as well as saying things like if it doesn’t pass the country will fall into a depression, unemployment at devastating figures like 18 plus % or the U.S. economy will fall off a cliff. The reason why these moderates have the power is this bill doesn’t get passed without their support no if ands or buts about it; therefore, they have the power to force their will in this bill if they stick together in significant numbers. The current bill is a liberal Democrat bill. It is not a moderate Democrat bill it is not something moderate Democrats want to be connected with. It has large amounts of social spending which does not qualify as economic recovery spending, it has unneeded grow government bureaucracy spending, it has permanent spending increase spending, it has spending which doesn’t pass the cost-benefit analysis test, etc.. This is not a mainstream America bill, it is not something moderate Democrat constituents would want if they knew fully what was in the bill, the bill proponents may be able to cloud the issue until it gets passed but come mid-term elections moderate Democrat constituents will know this bill was a dog and there will be repercussions.

    If Democrat leaders like Pelosi and Reid were really good leaders because this bill has been panned by so many Americas they would say to rank and file members in their caucus vote your conscience on this legislation speak you conscience on this legislation there will be no negative repercussions for doing so and if you can muster up the votes amongst members of your chamber both Democrats and Republicans to change the bill you are free to do so there will again be no negative repercussions for doing so. It will only take like a hundred billion dollars of changes in this bill to take it from a “D” grade bill to an “A” grade bill, rank and file members of Congress know what to do here to achieve this success they just have to find a way to do it.

    To the Republican Party this is your chance to redeem yourself to mainstream America to prove that as a political party you got it that your past obsession with broad tax cuts for businesses that rely on trickle down economics is a failure and is over and your obsession with tax cuts which favor the wealthy is also a thing of the past. This bill is a chance for the Republican Party to demonstrate their back, their back for working Americans, middle class Americans and as always for businesses in America. The Republicans are on the same wavelength as ordinary Americans on their call to rid this legislation of its non-economic recovery spending and its grow government bureaucracy spending and its permanent budget growth spending. The Republicans have an extremely valuable contribution to make with their push on lowering the tax rate to 5.25 % for one or two years on income from U.S. companies foreign subsidiaries being brought back into the U.S. which will bring a half-trillion dollars back into the U.S. economy; preposterous statements by individuals like Senator Levin and Representative Franks that this one time tax break will cause U.S. businesses to shutter and move off-shore is a glowing indicator of how unbelievable this whole piece of economic stimulus legislation is from the standpoint of how it departs from what an economic stimulus bill should be all about.

    Proponents of this bill have been promulgating this rallying cry “That we can’t let the “Perfect” be the enemy of the “Absolutely Necessary”” to pass this economic recovery bill. Considering the contents of this bill they will be following the rallying cry of “Don’t let “Failure” be the enemy of the “Absolutely Necessary””. These times call for the American Government rising to the occasion and doing at least good work, this bill isn’t good work.
     
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  2. driveby
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    driveby Gold Member

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    Biden said even if it's perfect there is still a 30% chance it will fail.

    That's sooper ........
     
  3. Xenophon
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    Xenophon Gone and forgotten

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    No.
     
  4. auditor0007
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    auditor0007 Gold Member

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    I don't think anyone has a clue whether it will even help, and that is the thing that bothers me. We're throwing nearly a trillion dollars at this and have no idea if it will even work. I personally was very big on the idea of infrastructure spending, and a lot of it. First of all, infrastructure spending has been lagging for years and is necessary at this time. Secondly, it would create real jobs. And third of all, we would actually get something tangible in return for the money spent. Unfortunately, this bill only allows for around 42 billion on infrastructure over the next two years. Whipped Dee Do!!!! I guess this should have been expected though. Instead of actually trying to create new jobs, they're going to but a trillion dollar bandaid on this.
     
  5. Truthmatters
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    Truthmatters BANNED

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    It worked in the great depression and will work again.
     
  6. 007
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    007 Charter Member Supporting Member

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    This site has gotten so much traffic that they had to shut it down to rebuild it. Kind of tells you something about what the PEOPLE want doesn't it....

    http://nostimulus.com/
     
    Last edited: Feb 9, 2009
  7. ABikerSailor
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    ABikerSailor Platinum Member

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    Of course the stimulus isn't going to work......they're giving the money to the same idiots that put us in this mess.

    What is going to happen, is those at the top are going to hold on to their bail out money, nobody is going to get credit, and those that didn't receive a bailout, are going to be forced into the poverty of slavery.

    Next.......a revolution happens, and the people take back this country from the idiots that have screwed it up for the past 10 or so years.

    Wanna make a true stimulus bill?

    Give everyone who is here legally in America (kids included) 25,000 if your net income is less than 250,000 (which is where Obama's taxation begins). That way, the common people could invest it, or spend it, and next month, the economy would be on its way back up.

    Oh yeah....it would also cost less than the current 782 Billion dollars.
     
  8. Skull Pilot
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    Skull Pilot Platinum Member

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    It didn't work in Japan
    Why would it work for us?
     
  9. Charles_Main
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    Charles_Main AR15 Owner

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    Not only will it not do the job, it will actually make things worse, and cause a contraction in GDP.

    What a wonderful world we live in, The Dems know best.

    Sigh.
     
  10. Charles_Main
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    Charles_Main AR15 Owner

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    Please show me where one Economist worth a grain of Salt agrees with this statement? It did not "work" in the great depression. It made the Great Depression worse and longer. Only the massive stimulus of 14 million men going to work for the Military, and massive spending on goods by the government, raised us out of the Depression.

    The sad thing is most Democrats know this to be true, they are just to damn stubborn to admit it, and are now repeating the mistake. Because they care more about Ideology than fixing things.
     

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