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Huh? Unemployment reaching to 9.5% and possibly over 10% isn't a downturn? Wow...
saggy doesn't quite grasp the concept of subsumption. Hard to blame a DC beltway boy of being ignorant. Kind of like trying to blame a retard for eating paste.
That's what a true stimulus is about - implemented immediately, to actually stimulate. His rhetoric didn't jive with the bill. He said we must act now, yet the majority of spending will not take place until 2010+. He said we needed it to keep unemployment 8% and below, yet UE has surpassed even what he said would happen WITHOUT the stimulus. He lied.
It is clear, then and now, that this bill was not stimulative, even though it portrayed as such.
And how would you propose that be done? Hand out bags of cash to people walking down the street???
Even the republicans beloved tax cuts take time to work. There is no such thing as an immediate stimulus!!!
And how would you propose that be done? Hand out bags of cash to people walking down the street???
Even the republicans beloved tax cuts take time to work. There is no such thing as an immediate stimulus!!!
Gosh..go take a look at China's stimulus..within 3 months it was felt by it's people. Over $500 billion and yes, it is working and started showing that it was working 3 months after it was put in place.
Nope, I HIGHLY doubt Obama will go for plan B.... He will do another Stimulus and this time directly put money in LUMP sum into taxpayers pockets albeit a lot lower than what Bush had done... his $13 extra a week was idiotic... I didn't even feel the extra money or react any differently in having it... I didn't even notice there was a difference in pay each month... but he followed Keynesian/liberal logic and it didn't pan out... he then blames that it wasn't the logic that was flawed, it was the circumstances... right...
Obama has been to Keynesian Economics what George McClellan was to military generalship- half-arsed, at best. More like 1/8 arsed.
No Keynesian would have allowed TARP (a purely Friedman/Chicago School construct) to continue in the original form.
No Keynesian would allow the banks NOT to be nationalized; to own a major part of what was left of this country's industrial sector, and allow it to offshore.
Gosh..go take a look at China's stimulus..within 3 months it was felt by it's people. Over $500 billion and yes, it is working and started showing that it was working 3 months after it was put in place.
Of course we forget that the Depression has been the catalyst behind the ethnic warfare in the dictatorship's NW Provences.
Maybe you could have read the bill? The Purposes section wouldn't have taken that long. Here it is...
SEC. 3. PURPOSES AND PRINCIPLES.
..(a) Statement of Purposes- The purposes of this Act include the following:
....(1) To preserve and create jobs and promote economic recovery.
....(2) To assist those most impacted by the recession.
....(3) To provide investments needed to increase economic efficiency by
.........spurring technological advances in science and health.
....(4) To invest in transportation, environmental protection, and other
.........infrastructure that will provide long-term economic benefits.
....(5) To stabilize State and local government budgets, in order to minimize
.........and avoid reductions in essential services and counterproductive state
.........and local tax increases.
In other words, it was not a stimulus bill, it was a bill to get a jump start on his green initiatives, fund his community organizing groups, and make a down payment on his health care program. And since it was never intended to stimulate the economy, he needs to claim what a failure it is was because the economy was worse then he thought, and now he needs a new stimulus plan.
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