780 Billion Dollar Stimulus Bill Passes Through Senate

[newusername 10+ year member]

Well the whole "I don't do earmarks" is just a ploy by both parties against the voters who don't know anything. It is the spending that is the problem, not the earmark: earmarks are good because they are specific in allocating spending. Not earmarking spending is more dangerous than earmarking it.

 

[Kastlez_ 10+ year member]

reaganomics

Mac dre FTW

 

[duece212 5,000+ posts]

Another thing that concerns me is there is a prevailing idea, especially in the housing market, that this stimulus should be used to boost that credit bubble again. I'm all for re-structuring existing mortgages and managing bad assets, but do they actually think that convincing people to do what they were doing before is the right approach?
The argument of lowering taxes or increasing spending is, to me, largely a question of which is easier to adjust in the future to avoid structural deficits (or surpluses). But lowering the tax would take effect right away and making credit available does not guarantee spending....in fact, it encourages the wrong kind of spending.

We'll see what the bill looks like by next Monday, but with each passing day I lose faith in Obama's ability to do what he said he would in a responsible manner.

Pretty much right where I am at. Its my belief that we were living in an artificially bloated market. Housing prices, spending, etc were all at a level that was not sustainable. Wanting a "quick stimulus" to try and prop up that false level we were at is just putting off the problem. If we get people spending back at the level they were, and banks loaning at the level they were before we will be back in this situation in another couple years.

We saw how much the past stimulus affected banks lack of lending. We've also seen how the last tax rebate didn't cause Americans to spend more (which I think is just dandy). We are damned if we do and damned if we don't...so why do it and waste more taxpayer money trying to support a false floor.

Its funny when congressmen get asked how they came up with the number (millions or billions) for each item in the stimulus...they go blank because they have no answer, they are just randomly guessing at shit

 

[wu36ca 10+ year member]

How is this different from when Bush did it? Not that I am trying to hate on either side, but I didn't see half this much complaining when Bush did the exact same thing.

 

[tRidiot 10+ year member]

The stated goal the last time was specifically to give cash infusions to struggling banks. There was also plenty of criticism for that (from me and many others... it was opposed by the majority of the American public, since your memory seems so short). This is a supposed stimulus bill to help create more jobs, but as has been stated ad nauseum, the pork that has been slipped into this overbloated pile of crap is simply ridiculous.

Not to mention that it obviously didn't work the first time, so why not try it again, hmmm? This is going to be a giant FAILBOAT, but there's nothing to do but sit and wait... since the people we have elected to represent us have decided that they don't care what the American people think... just as they didn't last year when this happened.

This place is going down the tubes because of an out-of-touch ruling royal class that has no accountability to their populace... sad, but without a massive grass-roots uprising against our current modus operandi, nothing's going to change it until the whole house of cards falls. The only real question is, do you want that to happen sooner or later?

Just MNSHO as always...

 

[duece212 5,000+ posts]

How is this different from when Bush did it? Not that I am trying to hate on either side, but I didn't see half this much complaining when Bush did the exact same thing.

Not to mention that it obviously didn't work the first time, so why not try it again, hmmm?

This

 

[audiolife 5,000+ posts]

How is this different from when Bush did it? Not that I am trying to hate on either side, but I didn't see half this much complaining when Bush did the exact same thing.

Bush's cost LESS you do realize they are going to pump out another 2 trillion dollars to the banks this year and next right? Not including the stimulus not including the bail out.Bush never did anything like this and FYI Obama has control of 50% still of what Bush did in the fall..but also realize the Dems are the ones who voted for it.

 

[duece212 5,000+ posts]

Bush's cost LESS you do realize they are going to pump out another 2 trillion dollars to the banks this year and next right? Not including the stimulus not including the bail out.Bush never did anything like this and FYI Obama has control of 50% still of what Bush did in the fall..but also realize the Dems are the ones who voted for it.

TARP = fail

 

[audiolife 5,000+ posts]

TARP = fail

You are going to have 2 more Tarps and there is only one common thread between all 3...Tim Gietner:laugh:

 

[nickolas_j_t 10+ year member]

TARP = fail

exactly.

 

[bumpweLL.nYc 10+ year member]

why didnt Tim Geitner resign? He broke the law. Do you really think he paid the interest or penalties like you or I would. im sick

 

[audiolife 5,000+ posts]

why didnt Tim Geitner resign? He broke the law. Do you really think he paid the interest or penalties like you or I would. im sick

what should make you sick is Timmy couldn't figure out turbo tax yet he is running the show with Tarp one and soon to be a huge Tarp 2 and 3

 

[bumpweLL.nYc 10+ year member]

no what makes me sick is Timmy really can figure out Turbo Tax but the stat quo shrugs and shows more disgust toward ARoid. That and the big picture is the dollar being systematically MUUUURDERED

 

[tRidiot 10+ year member]

no what makes me sick is Timmy really can figure out Turbo Tax but the stat quo shrugs and shows more disgust toward ARoid. That and the big picture is the dollar being systematically MUUUURDERED

DINGDINGDINGDING!

 

[duece212 5,000+ posts]

I like how Jesse Jackson Jr. rambled on in congress for an hour today about how there should be money for building of new airports in the stimulus because that would create jobs. Sure the building of them will create jobs, but what do you do when people still don't travel/fly because they are broker than shit...

There has to be smarter ways to spend the money for a quick yet long lasting impact...