Obama's $825 Billion Stimulus

[runningman]

Well I thought I would start the thread since I'm sure everyone is going to have an opinion on it. Not sure what is in it yet. Does anybody know what is in it?

I still don't think the US government can do anything about the landslide that has already begun. This needs to be fixed on a global scale with everyone's ships pointed in the same direction.

[Jenks]

Re: Obama's $825 Billion Stimulus

i dunno, but i'll take the check if there's one coming.

[Miroslav]

Re: Obama's $825 Billion Stimulus

This is going to be a fun thread...

I don't know the details of it either, but I think it's a significant chunk towards government spending in infrastructure, etc. and a minority piece in tax cuts.

I think most of it should be geared towards government spending, but it should be the right kind of government spending. It needs to be stuff we really need and it needs to be stuff that we can put into action now, as opposed to in one or two years. The major weakness with some of Obama's grandious spending plans, I bet, is that they will either simply take too long to get off the ground or be targetted towards things that will end up being wasteful and inefficient.

What benefit are we talking about? Jobs, of course. That's going to be the number one concern: how to stabilize the unemployment rate and give those people out of work something to do.

I know the Republicans are touting a lot of tax cuts instead. I'm not really buying that. Tax cuts are nice, but they are not going to keep you in your job. And it's not going to be spent right now; it's all going to be saved until the job situation is addressed and things bottom out.

And btw: $825 billion probably won't be enough; they will probably have to expland it. And it will take a long time for it to work, even if they find good projects to start now. Don't look for a turnaround before 2010 at best. There is no quick fix.

[Localizer]

Re: Obama's $825 Billion Stimulus

^ part of the plan is to actually give tax refunds dating as far back as 5 years ago to companies who are seeing losses. I don't know if that's a good or bad thing. Good in the sense that companies have some infusion in the system and/or bad in the sense that it may just be money that we don't already have.

[DIDI]

Re: Obama's $825 Billion Stimulus

Don't profess to know anything about this at all. But spending on infrastructure and renewables can't be all bad.

[superdave]

Re: Obama's $825 Billion Stimulus

Pork, pork and more pork. Oversight is needed. Greed got is into this mess.

[runningman]

Re: Obama's $825 Billion Stimulus

Oversight? Oversight most definitely will not work. Whoever does the oversight just gets paid off. You see your country is too corrupt.

We already read that book with Fannie and Freddie.

[superdave]

Re: Obama's $825 Billion Stimulus

Oversight? Oversight most definitely will not work. Whoever does the oversight just gets paid off. You see your country is too corrupt.

We already read that book with Fannie and Freddie.

If you're right, then we are fucked.

[Miroslav]

Re: Obama's $825 Billion Stimulus

well...we can't just curl up and die. we may not have a perfect answer, but we ultimately have to keep trying to do something.

[superdave]

Re: Obama's $825 Billion Stimulus

well...we can't just curl up and die. we may not have a perfect answer, but we ultimately have to keep trying to do something.

True. Hopefully Obama and the new leadership can push things in the right direction. I'd prefer tax cuts retro to '08.

[Miroslav]

Re: Obama's $825 Billion Stimulus

In case you're curious about what's in the stimulus proposal...

http://finance.yahoo.com/banking-budgeting/article/106490/Stimulus-101-What's-in-the-Bills

[Steve Graham]

Re: Obama's $825 Billion Stimulus

I read something like this on cnn.com^^^ seems like there are some good proposals in there

a hell of a lot better than sending out cheques IMO.. I mean, I wonder what percentage of people that received a cheque actually just went out and spent it.. no one I know did

[runningman]

Re: Obama's $825 Billion Stimulus

Don't profess to know anything about this at all. But spending on infrastructure and renewables can't be all bad.

Yes it can if the world won't buy your debt. Think about it as doing home renovations just after you lost your job and you can't get a loan.

[Cj Tari]

Re: Obama's $825 Billion Stimulus

theres some things on that bailout that could help me out on my business, a lot of the taxcuts that are mentioned look pretty helpfull, at least for me and my wife.

[runningman]

Re: Obama's $825 Billion Stimulus

what happens after the commercial real estate collapse that is about to happen?? Why isn't Obama preparing for that? The banks have taken over the US government and everybody will feel the affects in Mid March if not earlier. It is like the gov't is always 10 steps behind the curve. This is an economic 9/11 what is happening here.. you guys are being robbed and you feel great about it.

Also at what point do we stop blaming Bush and accept responsibility for the new actions by Obama? Remember this is not Bush's watch anymore and what happens from here on out is on Obama