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This would put more money in the hands of the consumers to spend for other things, plus the mortgage lends would not lose any money, just make less profit.
Many people look at their own dismal financial situation. In linking the stimulus with their own job and financial future, they are not too optimistic. After all, an unemployed construction worker doesn%u2019t understand how spending in the arts and sciences or in infrastructure can help him find a job. Similarly, an engineer who has lost his job at Ford or at Caterpillar only sees wasteful spending in school construction and in electronic medical records.
However, as President Obama has said, the stimulus is only a first step toward a full economic recovery in the future. It is like you have a heart attack; the ER people managed to keep the blood flowing through your body again. You still will stay in the hospital for a while for medical treatment and observation. In other words, there is no miracle pill or silver bullet to cure this ailing economy.
Paulson and the sky is falling idiots that supported him have done nothing but extend the recession. Japan is the model they are following. It lasted 10 years.
Obama and the current set of sky is falling idiots want you to believe a stimulus is needed but won''t tell you when or if it will be enough. The translation of that is they have not a clue. Oh, it''s loaded with non-stimulus stuff so business as usual w/ the endless taxpayer piggy bank.
What I see in the stimulus is that the country is in recession but our government is not.
When a household has some extra cash, they invest or buy something. When the government has some extra cash, they commit to another mortgage with a negative cash flow, no out planning and no care about future revenue planning. Gee, that''s what CA, FL, NV, and AZ did to drag the rest of the country into this.
But it''s coming to a halt. The stoppage of this bill will be a potential first sign of change but I doubt we are there yet.
What is really needed is another RTC. Get it done. Get started. The calendar to recovery doesn''t start until then.
Also, I heard a Sen. Mitch McConnell explain on a TV news show this morning why he was against the stimulus bill. He pointed to history and said the New Deal didn''t work, but rather the onset of WWII is what ended the Depression. If that''s where the republicans are really coming from, then we''re going to need to forget bi-partisanship and do what has to be done alone. Is it okay by republicans for the road to economic recovery to be lined with 21st century Hoovervilles? The New Deal enabled people to work to feed and shelter their families. That''s most important if you''re one of those families that the market is willing to sacrifice to "correct" itself.
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