Obama looking at $850 billion jolt to the economy

[KMAN]

I thought that's what this last $700 billion was supposed to do.... or the $150 billion before that....

It is going to take us decades to bail out the taxpayers after the trillions Obama is going to take from us...

He wants to do all of these new things and spend, spend, spend... Here's a novel idea how about we cut wasteful spending... Yeah right... Our government is a joke!

Obama looking at $850 billion jolt to the economy - Yahoo! News

 

[xsited1]

He's going to be a bigger spender than GWB and LBJ combined!

 

[alan1]

Forget about spending $850 billion. We can end unemployment and homelessness with probably only $150 billion.

Just hire all the homeless people and unemployed people to build houses for themselves.
But no, the government wants to build roads. Like the homeless people want to sleep on the streets.
Politicians are idiots.

 

[bk1983]

I thought that's what this last $700 billion was supposed to do.... or the $150 billion before that....

It is going to take us decades to bail out the taxpayers after the trillions Obama is going to take from us...

He wants to do all of these new things and spend, spend, spend... Here's a novel idea how about we cut wasteful spending... Yeah right... Our government is a joke!

Obama looking at $850 billion jolt to the economy - Yahoo! News

Well you thought wrong, the $700 billion was for the current credit freeze.. The TARP funds were for the banks to allow lending again, it was not a stimulus.

 

[bk1983]

He's going to be a bigger spender than GWB and LBJ combined!

President Bush has presided over the largest overall increase in inflation-adjusted federal spending since Lyndon B. Johnson. Even after excluding spending on defense and homeland security, Bush is still the biggest-spending president in 30 years. His 2006 budget doesn’t cut enough spending to change his place in history, either.

Stephen Slivinski is director of budget studies at the Cato Institute.

Total government spending grew by 33 percent during Bush’s first term. The federal budget as a share of the economy grew from 18.5 percent of GDP on Clinton’s last day in office to 20.3 percent by the end of Bush’s first term.

The Republican Congress has enthusiastically assisted the budget bloat. Inflation-adjusted spending on the combined budgets of the 101 largest programs they vowed to eliminate in 1995 has grown by 27 percent.

The Grand Old Spending Party: How Republicans Became Big Spenders

 

[editec]

Obama looking at $850 billion jolt to the economy

It's not nearly enough.

This economy lost tens of trillions of assumed wealth in the stock market, the bond markets, and the real estate market.

A trillion or two will not be enough to recapitalize this economy.

 

[Old Rocks]

We are not just dealing with an economic debacle. We have allowed ourselves to become dependent on nations that do not like us for the fuel that sustains our tranportation. We are using for our primary electrical power a fuel that is creating a climate change that has the potential to ruin all that we have achieved in the last 20 generations. We, as a nation, have shipped our manufacturing capabilities overseas, for the profit of a few very wealthy citizens, and the detriment of the other 98% of us.

Only by addressing all of these problems, can any one of them be solved. In order to replace coal, we will have to develop and build a distributed grid, picking up power not only from gigawatt nuclear plants, but also a few kilowatts from a citizens solar panels. We will have to build wind, solar, geothermal, and as well as other sources, wave, ect. and fit them all into a national grid. We must build, in this nation, a new way of powering our transportation. Whatever the mix of fuel cells, battery, capacitor, or any combination, we must switch to a fuel that does not negatively affect our climate, and we must build it here. Build it before, and better, anyone else does. Then export it for a profit. The same goes for the other technologies.

If we address, as a nation, all of these problems, I believe that we can come out of the present economicly trying times a much stronger and better nation. If we fail to address these problems, or address them in an incompetant fashion, we will join other nations that were once leaders on the trash heap of history.

 

[DavidS]

I thought that's what this last $700 billion was supposed to do.... or the $150 billion before that....

It is going to take us decades to bail out the taxpayers after the trillions Obama is going to take from us...

He wants to do all of these new things and spend, spend, spend... Here's a novel idea how about we cut wasteful spending... Yeah right... Our government is a joke!

Obama looking at $850 billion jolt to the economy - Yahoo! News

The $700 billion bailed out big bankers. The $150 before that was supposed to stimulate taxpayers, and actually did have a positive impact on the GDP. Now Obama wants to bail out the taxpayers with a HUGE amount of money.

In other news, the dollar plunged in its value. Could the US Dollar face a currency collapse if the government keeps spending and spending and spending?

 

[Lycurgus]

It's not nearly enough.

This economy lost tens of trillions of assumed wealth in the stock market, the bond markets, and the real estate market.

A trillion or two will not be enough to recapitalize this economy.

Sadly your right. I don't think most can fathom how much is going to be spent over the next 4 years or so. Then a fair amount of it is a crap shoot at best.

 

[RetiredGySgt]

Where is Sealybobo to remind us the 750 billion was a bad idea but Obama's 850 billion is a good idea?

 

[elvis]

I thought only evil republicans were responsible for the national debt.