Obama sees a catastrophe

Obama “Catastrophe coming if Congress doesn't act”

http://finance.yahoo.com/news/Obama-Cat ... 50882.html


Here’s my question. Congress acted quickly with the first bailout (Tarp-$700 Billion) which hasn’t really done what it was supposed to and Paulson then changed the rules halfway along the way. Perhaps if that wasn’t rushed a better plan could have been devised?

Before TARP there was nearly $200 billions given away to all Americans to spend. Well that didn’t really help unless you considered that retail sales would have simply been brought down sooner then the X-Mas season. (Disclaimer I socked my stimulus right away into savings).

So now we must rush to spend another $900 billion? On what?

$140 billion is another $500 check to every worker spread out over the year. Ok that extra $10 a week in everyone’s paycheck will really move GDP.

$200 billion on Medicaid to provide the poor with more healthcare. How does this stimulate economic growth?

$136 billion on Bridge and Road repair. First, shouldn’t this already be done? Second when all the bridges and roads are fixed then what? More unemployment.

$100 billion for “clean energy initiatives.” Isn’t Boone Pickesn already all over this?

It goes on and on.


I like that part of the bill will make all government buildings energy efficient. How about they put a provision in the bill to make the government itself efficient?

I agree Im getting sick of the throw money at it and see if that fixes it. However I dont think it's one party over the other but Both that screw us over.
One thing I like that Obama is doing is capping executive pay tied to bail out money Read here
http://news.yahoo.com/s/ap/bailout_exec ... NhcHNleGU-
What is the fix for the economy? I have a hard enough time running my coal furnace and at least I can control that.

A nation simply cannot spend its way out of a recession or a depression. FDR's New Deal did not bring us out of Depression, it simply kept people from starving until WWII INVESTMENT and industrial PRODUCTION restarted the economy.

This spending bill is bogus. It will only stimulate the left wing constituencies and indebt the US further. The US has to face the fact that it has overspent it budget and has lived beyond its current means.

England is facing bankruptcy as a result of social spending. No one wants its debt. Its only recourse is to print money. The US is not far away from that. China is getting nervous about the amount of US debt it holds while Geithner is telling them they have manipulated THEIR currency. Geithner is a clown. It is the US that has manipulated the dollar through petrodollar control, deficit spending, and fed-induced inflation.

Stop the insanity. No more Government spending increases. That is the message to give congress and the president.

mikeandgerry wrote:Stop the insanity. No more Government spending increases.

Government spending is EXACTLY what we do need right now.Spending on war materials brought us out of the Great Depression & spending on jobs & infrastructure is what will bring us out of this one. Tax cuts for the wealthy & corporations was tried & helped lead us into this mess. Time for us in the middle class to get "our cut" for a change@! Don't listen to the same tired, voices of the recent past. We voted for CHANGE.....So let's CHANGE! (give Obama a chance...If he fails you can dump him in four years & elect "Nice Legs" Palin!) )

I think the point is Devil is this is being sold as an economic stimulus package when all it is them cleaning up loose ends that have been laying around for many years that may not be able to get through the standard budget... Then when they pass the real budget they'll all be so glad to publicize how well they trimmed the fat. A lot of the money being spent isn't an investment into the economy but an investment into more social programs and other nonsense that isn't going to stimulate anything.

$200 billion to medicaid? You can build a lot of stuff with $200 billion which is not only going to produce something worthwhile but put money into peoples pockets.

Mr. Devil, how is government spending what we need? It's all gonna vanish into thin air like shooting a squirt gun on a coal fire! Unless they make it law that everyone has to blow their stimulus check! ( I could always use more power tools. Or maybe a flat screen tv.......)
Obama bragged they're putting in over 3000 miles of electrical improvements. So, like one power line from L.A. to New York big deal.

Maybe we should reinstate the draft and watch the lazy generation of kids run for the Canadian border! Build our armed forces up to like five million! Rebuild factories and start producing tens of thousands of F4U Corsairs and B17's! They'll still do the trick! The Bombs for Obama Campaign!

How could we possibly get jobs back here when there is a Chinese labor force of a billion peasants that will work for 50 cents an hour? I heard some laborers work for three bowls of cabbage soup a day!

My service related occupation seems Ok as long as I kiss the asses of the super rich people I work for. They seem to be unaffected by the plight of the common folk. They know times are tough, I don't want to blow them off like I used to. I used to think, the hell with these snobs, I can always find work to do. Now I'm not so cocky.
I was in a 5 million dollar shore house today in swanky Bay Head, NJ. The American Riviera. These rich ladies only concerns are the details of their decorating schemes, in a trophy house they will use maybe four times a season.

Richard S. wrote:A lot of the money being spent isn't an investment into the economy but an investment into more social programs and other nonsense that isn't going to stimulate anything.

& allot of those are just bargaining chips......The way I see it is any money spent right here, in our country for a change, with American workers getting a paycheck is a good start & can only help us.

Devil505 wrote:The way I see it is any money spent right here, in our country for a change, with American workers getting a paycheck is a good start & can only help us.

$200 billion to medicaid is NOT a paycheck to the American worker. You're missing the point, a lot of this spending is not going to put money into the hands of the working people.

EDIT: if the government wants to invest $200 billion for medicaid let's call it what it is.

There is just to much waste Devil.

KLook wrote:There is just to much waste Devil.

Let them iron out the details in the Senate but lets not block this needed legislation based on partisan politics like The House did.

Dann757 wrote:Mr. Devil, how is government spending what we need?

How much help would the 12 billion per month we are wasting in Iraq (to rebuild their infrastructure...while ours decays) be in putting some Americans back to work & fixing our bridges, electrical grid, highways, etc?

Dann757 wrote:start producing tens of thousands of F4U Corsairs

Damn nice looking aircraft!

I love the F4U Corsair. My fav WWII Fighter.

Dann757 wrote:start producing tens of thousands of F4U Corsairs

Damn nice looking aircraft![/quote]

I will go with what our Senator(Olympia Snow) told the Savior today. On tonights news.

KEvin

[quote="UpStateMike"]I love the F4U Corsair. My fav WWII Fighter.

Off topic but know why they built it with bent wings? (not the folding wings for carrier parking, but the "Gull Wing" from the fuselage....No cheating by looking it up!)

Devil505 wrote:

mikeandgerry wrote:Stop the insanity. No more Government spending increases.

Government spending is EXACTLY what we do need right now.Spending on war materials brought us out of the Great Depression & spending on jobs & infrastructure is what will bring us out of this one. Tax cuts for the wealthy & corporations was tried & helped lead us into this mess. Time for us in the middle class to get "our cut" for a change@! Don't listen to the same tired, voices of the recent past. We voted for CHANGE.....So let's CHANGE! (give Obama a chance...If he fails you can dump him in four years & elect "Nice Legs" Palin!) )

MIght be piggybacking here but when this gets past we will be at roughly $6,000 for every man, women and child in the US (Along with TARP and the 1st stimulus). Once the highway spending is gone, and the poor have taken all the free healthcare they can get thier hands on where will be? Those highway workers? Out of work? The poor that use medicaid? Still poor. Let's rush to spend nearly a trillion more on BS and say we are stimulating the economy.

Let's spend our way out of this problem (with money that's not yet printed). Funny thing is this problem comes from years of unchecked, even promoted, spending so indivuduals could live beyond thier means.