edthecynic
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What the hell did obama do with the 800 billion in stimulus money we gave him?
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edthecynic
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And with less than half the results.
Hey dummy, you could've googled this one in about one-tenth of the time it took you to create this thread:
See that 300 Billion in tax benefits? Trump's stimulus is 1.5 Trillion in tax benefits, which makes it almost TWICE as big as Obama's entire stimulus.
edthecynic
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Another mindless DittoTard.
Uncensored2008
Libertarian Radical
Gave it to the public employee unions.
edthecynic
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And yet significantly better than Tramp's.
edthecynic
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Yet another mindless DittoTard.
leftwinger
Diamond Member
List warning #2 on you. Battery going. I may get back to this to prove my point. More Difficult using an APPL Ipad but trust me. Does "continuing resolution" (or some name) ring a bell?
Edith, Maybe some educated poster on a good PC can show you tthe facts.
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Uncensored2008
Libertarian Radical
It's a fact, edtheliar.
Bailing out the failing pension plans of the public employee unions was the #1 priority of porkulus. Ensuring that someone like you, who was a school janitor for 20 years, can suck a public pension for another 40 years after retiring, was the primary purpose of porkulus.
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edthecynic
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Yeah, and it has nothing to do with the stimulus package, which was a separate self contained and funded bill. But you knew that already!
List warning #2 on you. Battery going. I may get back to this to prove my point. More Difficult using an APPL Ipad but trust me. Does "continuing resolution" (or some name) ring a bell?
And no one with a working brain would EVER trust you!!!
BluesLegend
Diamond Member
There's more to that story...2009 to 2010 when unemployment was sky high state and local tax revenue was way down. Instead of cutting back, instead of reducing staff, state and local governments used the stimulus money to keep everyone and fund pay raises and bonuses. At the peak of private sector unemployment public sector unemployment was unchanged at 3.8%. They blew all the money in 2 years and only then were state and local governments forced to cut back like the rest of us.
edthecynic
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No it is a Russia Limbaugh Lie, mindlessly parroted by STUPID SUCKERS like you.
The Stimulus package did not earmark one single dollar for pension plans. The RepubliKlan governors who did not want to use the money for construction projects and create jobs which would make Obama look good, chose to use the block granted money to pay down their states debt. GOP governors habitually raid their states pension funds so any paying down of the debt would partially go to the pension funds. The democratic governors used the money for rebuilding infrastructure.
As an example, there was a desperate need for a third tunnel between NY and NJ and the stimulus was willing to help pay for it. The Democratic governor of NY approved the project, but the RepubliKlan governor Christie in NJ blocked the project and used the stimulus money to replenish the the pension funds raided by GOP governor Frisky Whitless (who told the Ground Zero workers as head of the EPA that the air was safe to breathe) to cover her 30% tax cut for the rich. Pathological liar Russia Limbaugh then accused the Democrats of funneling the money to the unions and STUPID SUCKERS like you swallow that shit whole and beg for more.
Actually, Trump didn't need any stimulus money since he had inherited a growing economy. Instead, he gave the super-wealthy a huge tax reduction which was not necessary since the economy was growing. He should have waited to goose the economy when his recession hits us because he will have no arrows in his quiver to deal with it.
Much of Obama's stimulus money went to special interests and some was used to bail out major corporations to prevent bankruptcy by them and all the ancillary companies that depended on them. In other words the money was put into the economy so that people would start working and spending, and it worked. Remember that the great recession was the most severe downturn since the depression and we were slowly emerging from it.
skews13
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How old are you boy? You out of school yet?
Obama gave Trump a thriving economy after inheriting a bad one. But as usual, Trump not ever have worked a day in his life, inherited everything in his life.
As far as the American Recovery and Reinvestment Act went.
Now pay attention boy, this was before you were a filthy thought in your prostitute mothers pea brain.
President Barack Obama outlined the economic stimulus package during his 2008 campaign. Congress approved the American Recovery and Reinvestment Act (ARRA) in February 2009. The Congressional Budget Office estimated it would add $787 billion in budget deficits by 2019.
The economic stimulus package ended the Great Recession by spurring consumer spending. Most importantly, it instilled the confidence needed to boost economic growth. It also aimed to restore trust in the financial services industry. It limited bonuses for senior executives in companies that received the Troubled Asset Relief Program (TARP) funds.
It extended unemployment benefits, education, and health care.
It created jobs by allocating $275 billion in federal contracts, grants, and Congress designed the Act to spend $720 billion, or 91.5 percent, in its first three fiscal years. It allocated $185 billion in FY 2009, $400 billion in FY 2010 and $135 billion in FY 2011.
The Obama administration did better than planned. By the end of FY 2009, it spent $179 billion according to a 2015 report by the Congressional Budget Office. Of that, $68 billion went toward tax relief and credits. Another was spent on $34 billion in health services and $21 billion on education. It also spent $28 billion in unemployment compensation and $13 billion in extra Social Security and veterans' checks.
In the FY 2012 budget, the Congress allocated additional funding.
The CBO published its final ARRA report in 2015. It estimated the total impact on the deficit would be $836 billion by 2019. As of fiscal year 2014, ARRA had added $827 billion to the deficit. Of that, $303 billion went toward tax relief and credits. Another $141 billion was spent on health services and $97 billion on education. It spent $64 billion on unemployment compensation, and $48 billion on the Supplemental Nutrition Assistance Program.
2009 report, the CBO projected ARRA would stimulate gross domestic product by 1.4 percent to 3.8 percent for the fourth quarter in 2009. The stimulus was successful in 2009 GDP. The economy grew 1.5 percent in the third quarter and 4.5 percent in the fourth quarter. That's a big improvement over the first quarter's 4.4 percent drop and the second quarter's 0.6 percent decline.
In 2009, the CBO predicted that ARRA would increase employment by 7 million full-time jobs by the end of 2012. In 2015, it estimated the stimulus created between 2 million and 10.9 million jobs. Most of the increase occurred by 2011.
Most of the success was due to the Stimulus Package. By March 2009, expansive monetary policy had done all it could. It was evident more fiscal policy was needed. No doubt, the economic stimulus package inspired the confidence needed to turn the economy around.
Once in office, Obama realized he needed to increase the fiscal stimulus from the $190 billion plan he proposed in his campaign. Some components of his campaign plan, such as enacting a foreclosure moratorium, had already been implemented by Fannie Mae. Others, such as eliminating taxes on seniors making up to $50,000, were still part of Obama's economic agenda elsewhere.
Obama's biggest challenge was to create enough of a stimulus to soften the recession, but not big enough to raise further doubts about the ballooning U.S. debt. Unfortunately, the plan was blamed for doing both. It failed to initially reduce unemployment below 9 percent and added to the debt. Even so, the stimulus plan was not condemned as much as health care reform, Medicare, and Medicaid for the debt.
consumer spending, but many experts doubted it. Why? The rebates showed up as less tax withholding. Unlike the Bush tax cuts, workers did not receive checks. As a result, most people weren't aware they got a tax rebate.
The Stimulus for Small Business helped create jobs, increased lending from the Small Business Administration and community banks, and reduced capital gains taxes for small business investors. The aid helped, but many states were so underwater that their losses outweighed the federal assistance.
The public works construction was probably the most well-publicized. Signs were posted wherever stimulus money was used to construct roads or public buildings. It was estimated to retain or add 3 million jobs, many of which were sorely needed in the construction industry.
small businesses in their local area.
Second, the Economic Stimulus Package included $54 billion in tax write-offs for small businesses. Here's the breakdown:
- Deductions for machinery and equipment, such as computer and office equipment, signs, and vehicles were raised to $250,000. The exceptions were SUVs which were limited to $25,000. Property that didn't qualify for the tax credit could be depreciated by 50 percent.
- Investors in small, publicly-held businesses who held their stock for more than five years received a capital gains tax cut.
- Small businesses could delay paying the 3 percent withholding tax on goods and services sold to governments.
- Small businesses that hired unemployed veterans and students who looked for work for more than six months received tax credits.
- Delay taxes for businesses that reduced their debt.
- The Small Business Administration 7(a) loan guarantee was raised from 75 percent to 90 percent of the value of the loan.
- Fees were eliminated on the SBA's 504 program, which guarateed $4 million worth of economic development loans to small busiesses.
- $33 billion in tax credits for small businesses that add new workers or give raises beyond a cost-of-living increase.
- Raise the limit on SBA loan guarantees from $2 million to $5 million.
- $30 billion from the TARP program for 8,000 community banks. These banks own assets under $10 billion and do half of all small business lending.
- $700,000 to eliminate capital gains taxes for investors in small businesses.
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And after $2 trillion went to bail out what Affirmative Action Dem Franklin Raines did with taxpayer insured mortgage guarantees.... the rest went MISSING as it usually does.
It is funny how angry Dems like Franco get when reminded of the truth that the Dem Party is nothing less than a kleptocratic racket...
skews13
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Want to discuss the airplane size hanger building of money flown to Iraq by order of the Bush Admin during the war we still don’t know what happened to yet?
The Dems are pikers when it comes to racketeering compared to Republicans. It’s not even close.
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There is nothing you can say or post that would actually lower my opinion of W and the completely sold out post 1998 GOP.
In 2000, we had a $5 trillion Federal Debt and a budget surplus....
then W got elected....
and the US may never recover.
It was a slow recovery because you messiah hit the citizens with the largest tax increase in American history with his obamacare.
Stifled the economies recovery with his anti business EO's.
francoHFW
Diamond Member
Bologna. Anyway they're probably scared to death in those racist towns.
francoHFW
Diamond Member
So why is the economy just the same now even with a couple trillion dollars in sugar from Trump? I sure would like to hear some examples of that... Obamacare didn't even start up until 2013 dumbass lol. and experts outside your bubble of idiocy say if anything it helped the economy. The actual problem was the whole world was in a depression thanks to your scumbag GOP. We had the best economy in the world all those years, dumbass.
Terri4Trump
Gold Member
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From the size of Moochelle's enormous ass, I'd say she ate the money.
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