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Again, only 20% has been allocated at this point, so it's too soon to pass judgement IMO..... And again, with the extra $700 Billion; IF it has the potential to save our economy, then maybe it's worth it.... I don't think it will work either, but I'm not ready to call it a "failure" yet either....
What we do know about the so-called stimulus bill (and we knew it at the time it was passed) was that it was largely not stimulative. It is mostly an accumulation of Democrats' wish list--pork spending, in other words. Secondly we know/knew that it was intentionally back-loaded so that its impact would not be felt this year but in 2010 so as to benefit the Dems in the mid term elections.
I really believe Biden was right and that they badly miscalculated. I think they thought this recession would follow the pattern of past recessions, lasting about 18 months, whether the stimulus was passed or not. Economists agree that the recession started around December 2007. So 18 months from that point would put the recovery mid-summer 2009. With the recovery underway the Dems would have given themselves almost 800 billion dollars to spend in the out years with which to buy votes from their favored constituencies.
It hasn't worked out that way and now the Dems are scrambling. Of course their political greed is blinding them to the obvious solution. Instead of talking about a second stimulus they need to take what's left of the initial stimulus and do with it what they promised to do in the first place. Re-work the bill, make it truly stimulative, i.e., spend it in ways that will create jobs, and spend it now.
I know a bunch of school districts in my state that WERE going to lay off employees but didn't have to because of stimulus money that was allocated to them....
You can pretend like that's just some isolated anomaly, but it isn't. So FACT: The stimulus, at least for the time being, saved many jobs from being lost.
It is true that certain groups have benefited,teachers and government workers but what of the rest of the people???
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And if 1.25 million were lost, the net job loss would be? 500,000.
Not saying that's EXACTLY what is occuring, but I don't doubt some jobs are being created, but more are being lost....
There should be some stats showing how many jobs have been created,unless of course very few have....
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No offense, but you either didn't get the metaphor, OR you are saying that the stimulus was overkill and our economy is going to be just fine without our government doing anything.... I'm going to guess it isn't the latter....
Actually the stimulus was a waste of money we do not have.Interfering in business and deciding some cannot fail is not the government's job.
What we do know about the so-called stimulus bill (and we knew it at the time it was passed) was that it was largely not stimulative. It is mostly an accumulation of Democrats' wish list--pork spending, in other words. Secondly we know/knew that it was intentionally back-loaded so that its impact would not be felt this year but in 2010 so as to benefit the Dems in the mid term elections.
I really believe Biden was right and that they badly miscalculated. I think they thought this recession would follow the pattern of past recessions, lasting about 18 months, whether the stimulus was passed or not. Economists agree that the recession started around December 2007. So 18 months from that point would put the recovery mid-summer 2009. With the recovery underway the Dems would have given themselves almost 800 billion dollars to spend in the out years with which to buy votes from their favored constituencies.
It hasn't worked out that way and now the Dems are scrambling. Of course their political greed is blinding them to the obvious solution. Instead of talking about a second stimulus they need to take what's left of the initial stimulus and do with it what they promised to do in the first place. Re-work the bill, make it truly stimulative, i.e., spend it in ways that will create jobs, and spend it now.
Good post and it sounds like something politicians would do....
The Republican tube was no cheaper and yet, there seemed to be FAR less outcry from the right on TARP..... Why?
I have no clue. But I have no faith in the Republicans either. All of a sudden they are the party of small Government and wise spending habits... Yeah right!
I think they assumed all along that the economy would right itself. They chose then to hype up the rhetoric on how bad it was going to get if they didn't ram through their projects, which did next to nothing to improve things and will hurt things in the near future( budget busting spending, tax increases). But they're still doing it with global warming legislation and now health care and God knows what else they have planned.
We've gone from foolishness to idiocy and now to insanity. Next is self destruction.
I think they assumed all along that the economy would right itself. They chose then to hype up the rhetoric on how bad it was going to get if they didn't ram through their projects, which did next to nothing to improve things and will hurt things in the near future( budget busting spending, tax increases). But they're still doing it with global warming legislation and now health care and God knows what else they have planned.
We've gone from foolishness to idiocy and now to insanity. Next is self destruction.
we all know the definition of insanity right?
Doing the same thing over and over yet hoping for a different result.
You better believe Washington DC is chock full of insanity.
There should be some stats showing how many jobs have been created,unless of course very few have....
Obama continues to claim his stimulus has saved or created jobs, but he has no way to quantify that statement.
His massive deficit spending (his budget and stimulus) are what is driving this recession into uncharted territory. His plans for C&T and UHC, which the majority of people realize will require huge tax hikes are causing people to be extra cautious with regard to spending, investing and consuming. They have cut back drastically.
If the consumer is not spending, business will cut back, layoff workers - in addition to the massive tax hikes coming down the pike from obama and the dems - they are bracing and preparing themselves - which means they are not hiring or investing.
His radical agenda of tax and spend is driving the economy off the cliff.
Only a true far-left radical would even consider massive tax hikes in a deep recession and that is exactly what they are doing.
After we burn through the $787 billion and nothing is working, then what?
God forbid that happens.
And don't forget about the $1.5 Trillion that will be added on for UHC.
What happens??
Pretty much what would have happened without the Stimulus Package... Probably intensified a bit in my guesstimation because of the added debt....
But is it worth trying? Your opinion on that depends on whether you're assuming it's a failure already... Like I said, I believe it's going to fail, but I'm not going to crap on it prematurely.
What we do know about the so-called stimulus bill (and we knew it at the time it was passed) was that it was largely not stimulative. It is mostly an accumulation of Democrats' wish list--pork spending, in other words. Secondly we know/knew that it was intentionally back-loaded so that its impact would not be felt this year but in 2010 so as to benefit the Dems in the mid term elections.
Okay, so let me get this straight then....
It hasn't worked yet in the Summer of 2009.
It's benefits weren't meant to be felt until 2010.
Ummmm, well.... Kinda makes sense...
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