Comments on: Obama: Stimulus Spending To Be Sped Up

[ubrew12]

wtcmedic911 said: "guess things arnt going poorly fast enough for him. i truelly do hope the guy thats NEVER run anything except community events is TRUELLY a genuis and that im wrong."

I'm not sure what you want of him. Events like a depression have an ARC to them, a momentum that just takes awhile to turn around. When you burst a bubble as big as the housing/derivatives bubble, you must expect things to go down for awhile. This is the Bush recession, as Bush let that bubble grow in the first place, and did nothing to stop its inflation. Obama has made the mistake of paying too much public largesse on the banking sector, and not enough on the housing sector (i.e. socialism for the RICH, not the POOR). This will continue, under either party, until the finance sector stops being the gravy train for our elected officials that its become, which may take forever. Obama's Keynesian medicine (stimulus) is too little, he'll have to double it early next year. But he's spent way too much on the Wall Street banksters, and should be called on it.

[wtcmedic911]

guess things arnt going poorly fast enough for him. i truelly do hope the guy thats NEVER run anything except community events is TRUELLY a genuis and that im wrong.

[jschmidt27]

Bush a Democrat Controlled Congress for 2 years and they need to take responsibility for the many problems we have. Up until Sept 2008, Dodd was still saying Fannie didn't need to be regulated. Frank and Dodd were leading receivers of bank campaign contributions and they control the banking committees. Any respectable Democrat would be asking for the resignation of Dodd, Frank, Rangel Waters, Murtha who are all under ethics investigations but they are protected by Reid and Pelosi. Bush at least ran deficits for 2 wars, evacuating 3 states, Homeland Security and stimuls after tech bubble and 9/11. So maybe the Dems should own up to the facts. This is the Dodd/Frank recession.

[shurch4truth]

He's never had to meet payroll or pay self employment tax.

Posted by hawksprings at 6:54 PM : Jun 8, 2009

you actually think doing this makes a person superior?

Neil Armstong never had to meet a payrol or pay self employment tax either...tens of thousands of brave soldiers the same.

what is it about people like you that have such a narrow view of what is best and what is not..


you can't stand it that Obama is doing quite welll and cleaning up the mess that your Hero George W made.

BTW....W did a royal job of recking the country but he made a payroll once upon a time so you think that should be overlooked?

if you're so unhappy about gov. handouts them what about those on Wall Street that got billions? They made payrolls all the time, except they were giving the billons to themselves and your guy bailed them out

open your eyes

[CBSTV]

I was rehired because of the Recovery Act; so I'm grateful.

[hawksprings]

jschmidt27
Excellent post,
But you gotta understand that Obama has never run anything in his life, certainly not a business.
He's never had to meet payroll or pay self employment tax.

Obama couldn't run a lemonade stand without a government subsidy.

[jschmidt27]

What most people seem to forget is companies are in business to make a profit. They are not around ti fund charities. Also they need to be able to be competitive and make a profit so the shareholders can invest and feel their money is growing faster than inflation. So given that, taxes make it difficult for companies to make a profit. High wages can make them less competitive depending on the industry. So government should be encouraging business to higher with less taxes not more and incentive. An increase in the corporate tax is the worst thing to do. Switzerland has a tax rate of 9%. Lower the tax rate and companies will flock hear to higher. Raise them and they'll leave. Companies can move offshore they don't have to stay here. Get rid of the loopholes. But making loopholes and tax breaks are the way Congress gets their campaign contributions so don't hold your breath. Dodd and Frank, largest receivers of funds from banks as head of the banking committees are perfect examples. And when they get too old like Teddy, than the companies give to the Senators library to make them immortal.

[globalcoolin]

soooner or later OBAMA himself will have to concede to DERGULATING small buisness.
It's true he and the DNC have about 45 % of our nation believing de-regulation "caused this mess" but that's not true.
So Obama will try a spending spree, and scare everyone about global warming to see his grand promise of new jobs FAIL, befor he is forced to concider what might actually WORK.
Even Europe is moving away from it's lefty gaysies and greenies sillyness.

[Hulk-Smash]

Posted by aluceo

Hulk not understand all your big words. Head hurt. But Hulk agree with you. Hulk not smash this one.

[aluceo]

HOW THE STIMULUS PLAN HAS BEEN WORKING ALREADY AND WHY IT IS BOUND TO GATHER PACE

The stimulus plan in of itself has halted the dramatic plunge in business and consumer confidence with the very likely threat of an economic depression earlier in the year with businesses and consumers taking a less weary and more upbeat attitude to the future. Maybe more than anything else this will be the most significant impact of the stimulus package in the long-run enabling a spectacular recovery from the real possibility of depression before its passage. Businesses and consumers have become more and more confident that spending from the stimulus in the upcoming months will provide a solid environment for economic activity thus encouraging investment, reducing the pace of job losses and encouraging consumer spending. In other words, the stimulus package has avoided ?a cycle of economic downturn to depression? and is now about to engender ?a cycle of economic upturn to recovery?.

The stimulus package cash handouts and other social initiatives have played no minor part in lessening the burdens on individuals of the economic downturn and the consequent increase in the number of people unemployed thus palliating its effects with regards to mortgage, health coverage and consumer spending.

The stimulus package has halted the lost of jobs in in the areas of education and other state level services and enabled States to avoid budget bankruptcy (caused by the fall in revenues due to the economic downturn) with the result of avoiding indirect job losses in the private sector as well.

The stimulus package is bound to lead the way for new jobs creation to be followed suit by direct private sector investments with the consequence of increasing spending in the economy and accelerating economic recovery. It should be noted that jobs created by the stimulus will have a multiplier effect in the creation of jobs by private enterprises.

Perhaps more fundamental for long-term economic recovery, given the areas of investment of the stimulus package (infrastructure, energy and green jobs, education. etc.), it is the type of government investment required for renewing long-term economic growth. As was the case with FDR's New Deal in the 1930s and Eisenhower building of interstate highways and investment in the sciences in the 1950s, the stimulus package is bound to restructure the foundation of the US economy within which private enterprise will thrive.

The fundamental element in the criticisms levied against the stimulus package that it will increase the US deficit is the total disregard by most critics of what would have happened without the stimulus with respect to avoiding the real threat of a depression, raising business and consumer confidence and restructuring the economy. Thus providing a good foundation for real growth in the long-run (boostered by the Stimulus and led by private enterprise) with economic growth by itself and healthcare reform allowing for deficit reduction in the long-run.

While the Stimulus Package has often come under this one-sided criticism of increasing the US deficit, such an argument can only be credible to the extent that it elicits how the results mentioned above which have been obtained (and are to be obtained) by the Stimulus Package could have been attained otherwise. Most critics of the stimulus package seem to think that this economy which was at the very brink of collapse simply avoided a depression by some miracle and that by the same token recovery is bound to occur by magic. To the extent that their arguments fail to answer these fundamental facts about avoiding a depression and beginning a recovery, to that extent, such arguments can hardly be considered credible.