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?