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We, the public, have been hoodwinked by the stimulus packages.
TARP and STIMULUS both failed to get money back into the private sector. Which is absolutely freaking mind blowing.
TARP and Stimulus funds were used to grow the gov't by +2million people.
TARP funds paid off AIG, CITI, etc. Bought GM. Fully funded the SEIU pension. And was used to balance budgets of schools and cities who cant balance them.
Wanna see how else they are squandered Stimulus funds, here.
My favs: ~$1.5M for Head Start. NOT ONE JOB CREATED. But someone gets a pay raise. Increase the compensation and benefits of staff/contracted staff through a cost of living adjustment to improve the overall quality of the program. Someone else received a grant for ~$250K for Explaining the African Vote. There was another one, $350,000 for PRENATAL DEPRESSION AND A YOGA INTERVENTION. I'm not making this stuff up.
That is where OUR stimulus money is going; not to the private sector which creates jobs but to pet projects and special interests (ones Obama likes).
Take a gander at that link I provided. It's almost all 501Cs that are receiving the funds. There's little being invested in our infrastructure and there's almost zero benefit for the middle class in any of these projects. The stimulus is blood money to buy the administration support from all the federal dependent agencies who live and survive off of federal grant money.
I've written one grant before but worked with all kinds of social services in Philadelphia. It is very obvious reading the descriptions of the various projects listed as who's receiving the bulk of stimulus funds. SOCIAL SERVICE groups. These people have professional grant writters; that's what they do for funding to survive. Now they have one giant piggy bank to withdrawl from and very little over sight. This is exactly what is going on people.
It frustrates me, I'm business and I know sole proprietors and other business owners who will vouche that the credit and stimulus money is not trinkling down to them. Lines of credit are drying up and new ones are not being extended. The people who create jobs are not getting the stimulus money. And jobs in the private sector are obviosuly not being created.
Of 700B TARP money, $212 is still remaining unused, held in a federal slush fund; Obama now wants to use it for infrastructure jobs creation (instead of putting it toward deficit reduction) in spite of the fact that there remains $550B in stimulus money that hasn't ben used.
The TARP money should be put toward the deficit. Note, also, that only Congress is allowed to spend tax money, but that doesn't stop Obama and Geithner from re-allocating it where they want to spend it.
Ron Paul has been pushing for an audit of the Fed since 1983. It may finally be within reach via an amendment he has introduced. It's only taken 2 decades, plus a few years. I can't imagine why the Fed doesn't want to be audited. Can you?
I'll deny that it had much, if any, real impact on the economy and it certainly wasn't EVERYONE who earns under $250,000.
The Make work pay tax cuts are a JOKE....$65 dollars a month for families. Woo hoo!! Load the kids up in the minivan Marge....we're going to Burger King!! (phased out at $75K for singles and $150K for couples).
The housing and auto tax credits only applied to those who were buying homes and autos...a small minority. (phased out at $75K and $150K)
The increase in EITC isn't exactly a tax cut as much as it is an increase in welfare payouts....these people weren't paying income taxes to begin with. (only for those with 3 or more children)
A one time $250 for SS, retired railroad workers, government workers, etc.....something is better than nothing I guess.
$2500 tax credit for college expenses....helpful but again, applicable to a small minority of people. (phased out at $80K and $160K)
There were tax breaks for small business and local governments and it all adds up to 'the biggest tax cut in history' (and possibly the most ineffective in repairing the economy)...but had little or no impact on most American families.
Why don't you do a poll and ask how many folks here feel like they got one of the biggest tax cuts in history?
The modern conservative movement in the U.S. seems to be based on conspiracy theories.
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