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Perhaps:
-If the regulations and monitoring of Wall-street and the banking industries were even moderately sufficient.
If Lehman been secured, instead of allowing it to fall, the banks wouldn't have had the fallout that occurred afterwards.
If the first part of the bailout, given out under Bush, had been given with some restrictions on responsibility in spending the billions.
Certainly if the CEO's had acted at all responsible with the bailout funds and not indulged themselves with unbridled arrogance- their companies wouldn't have their hands out for more.
-we wouldn't be facing a crisis at the depression level we see all around us today.
That fact is the crisis is here and it's time to deal with it.
There is no denying that President Obama's stimulus and budget plans call for spending incredible amount of money. President Obama even stated that some programs may fail and need to be cut. It's understandable for all of us to be concerned. It'd be foolish for any of us to not be concerned.
From all the govt. spending in the past 8 years I have seen only improvement in my own life- that is the Do Not Call program- it seems to be a very successful project! (The quality of my evenings is certainly improved by not dealing with all those unwanted calls.))How is our country better? How is your state better? How is your life better? Do we have better schools? How about better roads? Improved health care? Great improvements for military and VA's?
Economists don't agree on what will help our economy. They have no golden answer. Some feel that tossing money out to be spent is all that is needed. (Much like paying people to dig a hole and then paying others to fill it in) Today's crisis it too big for something like that and besides we end up with nothing to show for it in the end.
President Obama's stimulus plan -passed by the house and the senate-calls for spending huge amounts of money- but not just tossing it out in tax cuts for people to go splurge on some items. A huge portion of this advance is a down payment on America's future. Here's a look at a few of those items.
The existing energy grid that supplies all of us with energy is outdated. It can't handle the current demands. If we don't update it we will all be experiencing longer and longer electrical outages. Do you want your state to be one of the ones experiencing wide spread power outages for weeks? Would you rather spend the funds and modernize the existing energy grid? If we don't do it now, it will have to be done at some point- no one debates that. (The funds for this also include 100M to help train people to work on this- creating new jobs!)
Across our country, highways, bridges and roads are in need of repair. If we don't take care of these problems we know they will only get worse. Those problems don't just go away. We've seen what happens when we ignore known problems. New Orleans levee system and collapsing bridges are a result of delayed repairs. Wouldn't you like to see us spend on repairs rather than wait until some disaster causes us to spend more on rebuilding?
Increasing future technology is also in the budget. This calls for expanding broadband. It also includes funding for ground based radar surveillance to be updated to satellite-based system for Air traffic controllers. (Oh my, assumed we had that)
We should see less delays and have safer skyway . Anything to complain about there?
Environmental issues like – reducing the greenhouse effect 18 percent by 2010, clean water funding, greening our farms, developing low carbon emission and renewable energy sources are included in the plan. That is building on America's future. Isn't that something we should be doing for our children?
The military will see increased pay, upgraded housing, better equipment and improved VA benefits. I think we should support our military. Anyone ever see some of the decapitated military housing? Don't our American heroes deserve better?
These projects will come at huge financial costs. However, clearly money needs to be spent on such projects at some point. Addressing these issues in time might actually be saving additional funds that would become necessary if we ignore this. Now is when we need the jobs and have to try and turn things around for our country.
President Obama will be cutting out some of the govt. waste and will not tolerate the abundance of greed and extravagance that brought us here. He is cutting out failed programs, seeking repayment of some funds, and working on plans to cut the deficit.
However in keeping costs down and eventually paying off some of the debt. - we all can play a role. It's up to us to help the plans for our country to succeed. With new access to a centralized online data reporting system for lobbing, access to legislators names who pushed for various earmarks, access to records of where the funds are being spent, we can help monitor those funds. We can demand more accountability from CEO's being bailed out with our money. We can demand that those abusing the funds they receive face punishments that include repayment of those funds. We owe a new era of responsibility to our country and our children who will also be facing the deficit we leave behind.
B+++ S+++ by backing Obama we are enslaving the future generations to debt we run up for ourselves. Let it all correct itself which it would anyway it's just a matter of time.
I see your points, but I continue to question, why are we pouring money into broken companies when they aren't fixed first? AIG lost more money than any company in history after billions were given to them. We are now giving even more money to them and the problems are not fixed. Most people would never put their money into a failing investment. Enron and Bear Sterns are gone due to poor practice. Why can't we let capitalism run it's coarse?
The President has many good ideas, but they also need congress to help pass them. I feel the environmental policies will be the hardest to pass and my feeling most won't pass. An example would be the carbon emission policy. There are state like West Virginia who have a large investment in coal. The congressmen and representatives in that state will never support the President because it will hurt their constituents.
Many of the projects for building roads and bridges are not going to be done right away. Not because the money won't be there, but because of the permit, possible vote, environmental impact studies and whatever else I may have left out. Much of the stimulus money won't be available until 2010 and later on top of that.
I don't have a good feeling about spending more money than the country has. 4 trillion is a lot of money and I just don't see complete support for much of this spending. It's not pocket change and we need to have programs that will work. He is being honest saying some may fail, but with this much money on the table we can't have programs that may fail.
The longer we delay the more costly it gets so we need to act now and act decisively because if we do nothing the costs will double, then triple, then quadrople... Just like it did for Japan. You either correct early or you get into a tailspin and you risk getting into a real deflationary spiral which is EXTREMELY difficult to get out of once it's fully set in. As for the Republican whining, I didn't hear them whining when Bush added $5 trillion to the national debt doubling it without any decent reason. Now we're in a genuine national emergency and they suddenly remembered the debt? How transparently fake can you be?
I am sorry to tell you this. But other Countries in the past have tried the same type of plan Obama has pushed down our throats. Those same plans ended in failure, just like this one will. Printing more money is not going to stimulate our accompany. Wall Street has been telling this to Obama since he took office. Obamas plan was nothing more than paying voters $10 a peace for voting for him. I am very disappointed in our President so far.
The longer we delay the more costly it gets so we need to act now and act decisively because if we do nothing the costs will double, then triple, then quadrople... Just like it did for Japan. You either correct early or you get into a tailspin and you risk getting into a real deflationary spiral which is EXTREMELY difficult to get out of once it's fully set in. As for the Republican whining, I didn't hear them whining when Bush added $5 trillion to the national debt doubling it without any decent reason. Now we're in a genuine national emergency and they suddenly remembered the debt? How transparently fake can you be?
Don't you think that by bailing these companies out, without fixing the underlying problems, we will just end up dumping more and more money into them like AIG? I understand what you are saying, but the problems these companies have is not fixed. I think we are already in a tailspin.
Bush was an a**hole, but because he ran up the defecit does it make it ok for our new President to do the same? Like the poster above mentioned, never in our history or in other countries has anyone been able to spend their way out of a recession. What do you think?
68vette- You wrote -Don't you think that by bailing these companies out, without fixing the underlying problems, we will just end up dumping more and more money into them like AIG?
I absolutely agree with the fact that the first thing we need is to stop people from lining their pockets with bail out money. They need to dealt with swiftly and harsh or the plan will never get off the ground.
You also stated- Many of the projects for building roads and bridges are not going to be done right away.
It's my understanding that the money for the roads and bridges started flowing and that states have started projects. Do any of you have new projects underway yet?
i still believe -
It's up to us to help the plans for our country to succeed. With new access to a centralized online data reporting system for lobbing, access to legislators names who pushed for various earmarks, access to records of where the funds are being spent, we can help monitor those funds. We can demand more accountability from CEO's being bailed out with our money. We can demand that those abusing the funds they receive face punishments that include repayment of those funds. We owe a new era of responsibility to our country and our children who will also be facing the deficit we leave behind.
68vette- You wrote -Don't you think that by bailing these companies out, without fixing the underlying problems, we will just end up dumping more and more money into them like AIG?
I absolutely agree with the fact that the first thing we need is to stop people from lining their pockets with bail out money. They need to dealt with swiftly and harsh or the plan will never get off the ground.
You also stated- Many of the projects for building roads and bridges are not going to be done right away.
It's my understanding that the money for the roads and bridges started flowing and that states have started projects. Do any of you have new projects underway yet?
i still believe -
It's up to us to help the plans for our country to succeed. With new access to a centralized online data reporting system for lobbing, access to legislators names who pushed for various earmarks, access to records of where the funds are being spent, we can help monitor those funds. We can demand more accountability from CEO's being bailed out with our money. We can demand that those abusing the funds they receive face punishments that include repayment of those funds. We owe a new era of responsibility to our country and our children who will also be facing the deficit we leave behind.
I live in Vermont and we need a new highway(which was started over 20 yrs ago) to be completed. It's been voted on many times, but there are groups of people who want environmental studies done, as well as studies on alternatives. When the state had the money for this project these types of delays prevented it from ever happening. Now there is renewed interest in getting it rolling again, but I really don't see it happening. Our state also lost most or all of the stimulus money due to some money involving health care a year ago. There is also a lot of fine print that goes along with the stimulus package.
I agree with holding people accountable and having Washington more transparent. I think the money needs to be put in the hands of people who know how to use it. I have been around long enough (and I'm sure you have to) to know that Washington has never been good at spending money. I trust my worst enemy with my hard earned money than Washington. I'm not convinced yet that this has changed.
The original plan had some bite to it that very well could have helped people, or persuaded them to pry open the wallet. $15k tax credits for homebuyers...the ability to write off interest on new-car loans originated in 09 for two tax years. Pretty flashy stuff I thought. I was pretty disappointed about how watered down it had to get to pass muster in the House and Senate.
As far as bailing out the big corporations...I thought that set a slippery slope precedent. Hard to say if it was right thing to do or not.
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