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Because the people in the most need - for example, the ones who got laid off from their jobs, are very likely to actually use that money, purchasing food, clothes, essentials.
First of all, I have serious doubt about those figures.
Secondly, extending unemployment benefits is not stimulative in any sense. Those on the brink of losing benefits are NOT going to be spending on non-essential items. They will be using those benefits to keep their homes, pay their bills and stay afloat. How does that create a job?
Same with food stamps - an extra $100 a month spent on food will not create new jobs. I might allow someone to retain their job, that's about it.
Maybe a little of this second stimulus will actually get to the average american and not just get sucked up by making the government bigger or buying up companies that Obama can run.
What happen to "shovel ready projects?" There is very little new construction projects going on around here. Most projects are projects that were already underway and funded years ago.
I was in support of repairing bridges and roads. We have several bridges that you can visually see are in need of repair. Putting people to work on these projects would help stimulate the economy by increased construction help, engineers, equipment purchases, etc. It would also stimulate the local diners, luncheons, retail stores etc.
Where are the jobs? So far it appears that only the bureaucrats that are in charge of metering out the stimulus dollars are being hired. It's not like there weren't enough people already in similar positions to handle the paperwork.
When you have Keynesian witchdoctors pretending to be economists within your ranks, you can expect one stimulus after the other.
Another Schiff prediction come true. How interesting the Austrians could predict not only the timing of the collapse, but the very details of how it would occur.
they probably don't want to say where the stimulus money went, as in this excerpt from the canada free press:
Green” is more like pink thanks to the kind of pork embedded in Obama’s stimulus package. The billions ladled out for everything from green jobs to making buildings green to green energy helped shove whopping fistfuls of money into the pockets of environmental consulting groups and companies.
Tesla Motors, a much hyped company which doesn’t so much produce cars as magazine articles about itself, got nearly half a billion in federal funding. This for a company that makes six figure sports cars assembled in the UK and powered by shopping carts full of laptop batteries that virtually no one has actually driven. Not to mention a company with an embattled leadership, embroiled in numerous lawsuits, which prior to the 465 million in Federal funds was firing its employees through text messages, because it was down to 9 million dollars in the bank.
Is there really a good reason why half a billion dollars in Federal funds should be paying for luxury sports cars for the rich and famous to be assembled by British workers, whose key corporate investor is Mercedes Benz?
i think americans would be OUTRAGED if they knew how the money was spent and i think that is why congress is blocking this bill. YOU CAN FORGET TRANSPARENCY!
Last edited by floridasandy; 07-08-2009 at 07:36 AM..
Economics is not my forte - but it seems to go against everything I know from balancing a checkbook and staying clear of debt for 20 years to spend money that we do not have. Granted, that is the thing politicians - rep and dem alike - seem to know best. But isn't wild spending without the funds to back it up in large part responsible for the economic mess we are in? I don't pretend to have the answers on this one, but spending money that isn't there hardly seems the way to go.
What happen to "shovel ready projects?" There is very little new construction projects going on around here. Most projects are projects that were already underway and funded years ago.
the first stimulus did not work, so i guess it is time to double down!
This is similar to calling a child a complete, life-long failure for getting a D in 3rd grade.
Ridiculous.
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