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The stimulus contained very little stimulus actually est at 30%;much of it long term. There is no real housing plan as promised by Guenther months ago. Not much is working and alot of debt incurred .Many companies have brought their bottom line down and are showing a profit based on reductions in many areas like employment.About the only jobs i see being created by the stimulus will be temporary jobs most in construction and maybe some token flagman etc for the non-skilled to satisfy the government. But i have to say that the underwater does not mean the people are behind on payments or in trouble;it only reflects lowering value compared to what was paid. By that standard most vehicles purchased are underwater because of lower price how.So even though many are underwater because they woe more than the current value it doesn't mean they will sell them or stop paying.I know alot of people who even with the drop are way ahead because they also sold a home at much greater value when prices rose and bought another. Some made twice or more what they originally paid.With so many buying and selling in the last ten years because of business move many made enough to pay cash for their last home if they wanted.So its a mixed picture and takes mopre than numbers.
I concur. Keep in mind though, that "underwater" due to decreased property values leads to decreased property tax revenue which, as we are seeing more and more, leads to budget shortfalls in local governments and ultimately job cuts. You make a good point, but keep in mind that "underwater" has many more ramifications than just that of the individual homeowner.
As someone who was laid off from a job in December 2008.......recently pulled my home out of foreclosure and now fighting to keep my head above water I can say that the economic stimulus is NOT WORKING.
Banks eventhough they have received bail out money are reluctant to help people stay in their homes. In fact to get a loan modification from the banks there has to be some form of income coming in to the house........unemployment is not counted by the bank as income when they are looking at modifying a mortgage loan to a more affordable level.
Most companys are still not doing the level of hiring that they were doing a couple of years ago and it is even worse here in the southern part of the United States.
It is very easy for the people who still have jobs, have not lost their homes and do not have these problems to say that we can't spend our way to a better economy. Those of us that have lost our jobs (laid off) did not ask for this fate..........therefore if unemployment needs to be extended until people can find work and get on their feet than that is exactly what needs to happen. If it were you......you would want the same thing so that you could survive!
It d--n sure is not working for those of us that have been laid off. Government would have been better off giving homeowners the bail out money rather then giving it to these GREEDY banks just so they can use it to pad their pockets!
It d--n sure is not working for those of us that have been laid off. Government would have been better off giving homeowners the bail out money rather then giving it to these GREEDY banks just so they can use it to pad their pockets!
I guess its your fault that you arent working for Government Sachs, and getting a 10 million dollar bonus.
But by taking these people off th unemployment rolls will indicare full jobs recovery and less unemployment!
Our stimulus is working!
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Obama
Now I know why y'all were against the recovery package. Y'all said, there will be a quicker recovery if there were no package, which would have meant, these 1.5 million people wouldn't have to wait until December to be dropped. Obama simply delayed what you wanted should have happened today (that is, these 1.5 million no longer getting unemployment benefits).
It will be interesting to see how this information is spun by the media and the Administration come December. Either it will lead to another "stimulus" package aimed at bolstering/extending unemployment benefits again, or it will lead to an even more protracted recession. Do we spend (borrow) more money to help these folks survive? The compassionate side of me says "yes" while the fiscally conservative side of me says "spending our way out of debt is not the answer."
This will be a big challenge for the Administration. That much is guaranteed.
I understand your dilemma. While I would love to say "Yes" to another stimulus bill if it was actually going to go to the people, I know in my heart it would not go to the people who need it. So the answer to any such suggestion should be a resounding "No" to another stimulus package. I suggest we gather some of the funds already circulated to the various corporate and banking entities around the country. They are obviously hoarding this money, since the banks still aren't lending and the corporations are still laying people off. They can spare a couple a billion to help the people who bailed them out, can't they? We have already dumped $800 billion dollars into the economy which was meant to help stimulate an economic recovery. Instead, we see nothing but longer lines at the unemployment office and big fat bonuses going to corporate big wigs. Enough is enough people. We have done enough to stimulate these deadbeats. It's time they start pulling their own weight and kick something back to the people who saved their dirty dealing butts.
Now I know why y'all were against the recovery package. Y'all said, there will be a quicker recovery if there were no package, which would have meant, these 1.5 million people wouldn't have to wait until December to be dropped. Obama simply delayed what you wanted should have happened today (that is, these 1.5 million no longer getting unemployment benefits).
This sort of "stimulation" was fated to fail. There is no way the American people can recover if we keep dumping money into failing businesses and banks. They should be allowed to fall. It is the natural order of things in a democratic capitalist society. Yes, I know things would have been difficult for a time. But the thing is, allowing these companies to fall would only open the avenue for new companies to take their place. That is the natural order of business. Companies fall while others rise. We have stepped in and disrupted this order, and look what we have gotten for it. Nothing. Things are worse than ever and the money we dumped into the business and banking industry hasn't been used to help the people at all. It was our money, it was spent in our name, and we have seen no help from banks and no mercy from greedy corporate entities. We need to cut the strings, let those who are heading for a fall take the plunge, and allow new businesses to take up the slack.
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Government would have been better off giving homeowners the bail out money rather then giving it to these GREEDY banks just so they can use it to pad their pockets!
