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Very odd..here in Austin they talk about building a commuter rail from Austin to another suburb and in the next breath talk about cutting staff at the schools because of budget deficits.
HappyTexan, same thing where I live...talks of a commuter rail from Detroit to Ann Arbor, and school budget cuts at the same time.
No doubt a full recovery can't happen without getting the debt and deficit more balanced. That's the next step. It would have been suicide to try and pay any debt down while still in crisis mode. Obama's committed to addressing that, and steps are already beginning to happen. We'll see where it goes.
In the end though, every economic indicator is trending positive. So, any, such as Sanrene, who refute that on purely politcal grounds, are misguided. Now, the challenge is to keep it moving in that positive direction and not screw it up.
We shall see.
Really? Every economic indicator?
Like...the number of people who lost their homes last month? Or the UE rate rose to 9.9%? Or the U-6 number rose to 17.1%? Or April consumer spending? Or the new jobless claims, still hovering around 450,000? Or the record deficit for April? Or the fact Fannie&Freddie need ANOTHER $8 Billion?
And how exactly is obama going to deal with the debt/deficit?
By creating another $2.5 TRILLION dollar entitlement?
So any, such as Bluefly, who refute on purely political grounds are MORE than misguided.
Well folks..in a little more than 6 months TS will HTF as part time unemployment benefits must be funded by states for the first time EVER. The government money for this runs out in 1/2011. Only a handful of states opted out of that part of the stimulus and got heck for it publicly.
I agree. Small business is the backbone of America.
Many talented people lost their jobs and if the opportunity was there (loans, assistance) rather than an unemployment check and a temp "shovel ready" job maybe there would have been a flurry of new small businesses.
Small business tends to keep the money circulating in the community while the Walmarts send the money to HQ and suck the community dry from tax subsidies.
The stimulus could have been done in a different way rather than make government bigger.
It is a general lack of money that is driving the economy now.
It is a general lack of money that is driving the economy now.
And that lack is due to ???
The government handed banks money to fund loans and stimulate the economy (similar to China's stimulus). Instead the banks closed up the loan windows and took that money over to Wall Street to gamble.
Or..they borrowed from the Fed at 0% and then loaned it back to the government at 4%. (Borrow from TALF, TARP and buy gov't debt).
It is a general lack of money that is driving the economy now.
Lack of revenues because 7 million have lost their jobs.
But obama and dems want to keep funding states whose budgets have grown too big, due to expanded government hiring, public sector union pensions and out of control spending.
Ridiculous. To the core. You just paid for a $800 billion dollar alignment, and you're happy?
Anyone with half a brain would know that an $800 billion stimulus would do nothing for an economy with $14 TRILLION in output. That's like saying i'll invest an extra penny per month towards a mortgage because I want to pay it off early.
You folks simply have no common sense, do you? Let me guess. You voted for this fool, right?
I fear for America when people like you celebrate over a paved road at the cost of your own kids and grandkids future. All because its "better than nothing."
?? uhhh...that comparison is what's "ridiculous".
The ratios of $800 billion to $14 trillion; and one penny to a mortage payment, are not remotely close.
$800 billion is just over 5.71% of $14 trillion.
One penny is just .002% of (even a modest) $500 mortgage payment.
Hyperbole and overstatement often serve only to undermine one's credibility....as in this case.
The government handed banks money to fund loans and stimulate the economy (similar to China's stimulus). Instead the banks closed up the loan windows and took that money over to Wall Street to gamble.
Or..they borrowed from the Fed at 0% and then loaned it back to the government at 4%. (Borrow from TALF, TARP and buy gov't debt).
OK I'll be a bit more clear. It is a general lack of money for the consumers to spend with that is driving the economy.
The consumers are a bad credit risk now and so aren't getting new loans.
OK I'll be a bit more clear. It is a general lack of money for the consumers to spend with that is driving the economy.
The consumers are a bad credit risk now and so aren't getting new loans.
Oi vey!
The lack of money and the reason consumers aren't spending is because of job losses and the fear and trepidation of obama's coming tax hikes on business and individuals.
You don't go out and get a loan so you can go out and spend that money.
Consumer spending drives the economy (about 70% of it). When consumers stop spending/driving, business starts feeling the pinch, then they start laying off and hunkering down when their products and services are not in demand.
The snowball continues to the state - less revenue to the treasury in the form of incomes, sales, gas taxes.
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