Stimulus Facts:

[pk]

Stimulus Facts:

Read the specifics of what President Obama wants to spend $825 billion on.

The plan by Obama and congressional Democrats to revive the economy is taking shape. Here's what we know so far.
You've probably noticed: The Obama administration and Congress are talking about spending an unprecedented sum of money to try to revive the economy.
President Obama and House Democrats laid down the marker with an $825 billion package of spending and tax cuts.
Dozens of proposals. Hundreds of pages of legislation. Billions of dollars.
What are some of the headline proposals, and what is the debate all about? The legislation is a work in progress, but here is an overview.

OVERVIEW: http://finance.yahoo.com/banking-bud...s-in-the-Bills

[keith]

Need to catch up on Wall Street Journal reading. Thanks for keeping us posted via theBubbler.

Regards,
Keith

[JuJu]

Oyeeee Vey!!!!!

[dgridley]

Reading earlier that if they divided that money up and gave each American an equal share, it would come to over $9000 per person.. I'd rather have the $9000 please If I find the link again, I'll post it here.. found it somewhere on Reddit I believe.

[bbsaquaticservice]

Me to Me to me to but you know that will never happen.

[Latina]

Originally Posted by dgridley

Reading earlier that if they divided that money up and gave each American an equal share, it would come to over $9000 per person.. I'd rather have the $9000 please If I find the link again, I'll post it here.. found it somewhere on Reddit I believe.

Got an article about that in my yahoo junk mail yesterday... It reads that if they added the first $700 billion bailout (the one that is already spent) to the current 819 billion bailout it would be somewhere around $9700 per person if divided amongst everyone who filed taxes in 2008 for 2007... to me it's just that, junk mail & silliness... not only would that not help health care or any other cause, but not everyone would put that money back into the economy, some would save it & others may blow it.

No it would never happen & thank god it wouldn't.


Thanks PK for the thread, I will follow the link from work later

[TheTodd]

Originally Posted by Latina

Got an article about that in my yahoo junk mail yesterday... It reads that if they added the first $700 billion bailout (the one that is already spent) to the current 819 billion bailout it would be somewhere around $9700 per person if divided amongst everyone who filed taxes in 2008 for 2007... to me it's just that, junk mail & silliness... not only would that not help health care or any other cause, but not everyone would put that money back into the economy, some would save it & others may blow it.

No it would never happen & thank god it wouldn't.


Thanks PK for the thread, I will follow the link from work later

The best idea would be to not take the money in the first place, rather than taking it and then having to spend billions to get it back to us. Businesses and consumers will always know how to spend money more efficiently than government. In fact usually about 40% - 60% of what government does goes to administration costs. So expect around $400 billion of the massive spending bill to go out the window. Plus the fact that many of the so called "jobs" they are creating are bureaucratic so we will be paying for them for decades to come.

[kmfarm]

Originally Posted by TheTodd

The best idea would be to not take the money in the first place, rather than taking it and then having to spend billions to get it back to us. Businesses and consumers will always know how to spend money more efficiently than government. In fact usually about 40% - 60% of what government does goes to administration costs. So expect around $400 billion of the massive spending bill to go out the window. Plus the fact that many of the so called "jobs" they are creating are bureaucratic so we will be paying for them for decades to come.

Agreed, one time payments in the form of a check is not long term stimulus. Lower tax rates on individuals and business is the correct formula. That's how you plan as a family or business.

This package raises the baseline of the federal budget by that 400 billion dollar number. So yes, it never goes away.

Now add on top of all this, SCHIP expansion, carbon credit charges, increase gas tax (it's coming), Internet tax, Doubling school spending, Universal health care on top of State health care, etc etc. We're in for some tough times.

[kmfarm]

Oh ya, forgot, TARP II is also coming. That'll be another trillion.

[keith]

A trillion here, a trillion there...pretty soon you're talking real money!

Regards,
Keith

[webtraveler]

They are voting on a bill that they refuse to allow "we the people" to read per their promise before the election.

What happened to their promise of 48 hours? Just another BS story it would seem. The GOP has not had time to read the bill (they were locked out of conference) and most of the Dems don't know what the bill has in it now.

What is the world is going on in Washington?? Why are they borrowing $$$ that likely won't do anything but put us further in the hole?


No links without 10 posts? Oh well...my first and last post here

[kmfarm]

Now that the stimulus has passed and will be signed, I'm excited. It'll be like my birthday everyday. With each passing day there'll be a new surprise as to what's in there. Can't wait to see Doyle blow through his portion. Oh well, at least the schools and teachers union are happy.

[pk]

How will the government stimulus plan affect you?

An examination of how the economic stimulus plan will affect Americans.

FULL STORY HERE:
How will the government stimulus plan affect you?

[dgridley]

Friendly bump...

[kmfarm]

Stimulus starting trade wars. Democrats (Obey/Pelosi) were warned about this and ignored it when writing the Bill.

The problems and economic losses this causes can not be "tracked" and will be ignored when applauding the effects of spending stimulus money.

Outrage in Canada as U.S. Firms Sever Ties To Obey Stimulus Rules-washingtonpost.com

[kmfarm]

Here's a good example of how the Stimulus is a waste.

Over 7 billion for "rural broadband" service. Sounds good right?

Here's a partial quote:

More than 90 percent of the loan applications the agency has approved since the critical report in 2005 went to areas that already had broadband service, the report said. “OIG remains concerned because the overwhelming majority of communities…receiving service through the broadband program already have access to the technology,” Young wrote.

Rural Broadband Stimulus Program Slammed in Govt Report - ProPublica

I'm in a rural area with no access to broadband. I purchased satellite internet. I'm happy with it. Satisfied with the speed and access. And it's just as affordable as any other type of access.

I didn't need the government to get broadband. Why does anyone else? The free market has done a pretty good job of supplying internet so far, so let it continue to grow through natural competition.

That's an easy 7 billion that could be saved and it took me 5 minutes to find it.

Imagine if I actually tried hard.

[kmfarm]

Just as I predicted:

Tracking Stimulus Spending May Not Be as Easy as Promised: washingtonpost.com

[kmfarm]

Police officers saved by stimulus may still lose jobs - CNN.com

Partial quote: "These jobs and the jobs of so many other police officers and teachers and firefighters all across Ohio will now be saved because of this recovery plan."

Will these jobs be taken off the "saved list" once their eliminated?

That's the problem with alot of this money being thrown around. It's makes good photo op's, but only delays the inevitable. 1.2 million dollars wasted.

[kmfarm]

Over 100 billion "invested" in green initiatives. There's a black hole. Here's some experience that was never looked at or debated.

RealClearPolitics - The Myth of 5 Million Green Jobs

[kmfarm]

Wonder if this is on the government website that's tracking every single dollar of the stimulus. Oh that's right, it isn't up and running yet.

The American Spectator : An Airport for Somebody

[kmfarm]

If he says it, it must be true. Today (on yet another campaign trip) Obama claims the stimulus has already "saved or created" 150,000 jobs.

Which is it? Saved or Created. There is a difference. What are they? Where are they? Is that before or after "losing or disolving" 1.3 million jobs?

Oh well, like I said, if he says it, it must be true.

Obama promotes clean energy, stimulus in Nevada - Yahoo! News

Maybe that solar panel farm will make up for the "carbon footprint" he left behind on this useless trip.

[kmfarm]

Here's some detail on the above metioned trip.

Presidential Fundraising Trips Leave Taxpayers With Hefty Tab - Political News - FOXNews.com

Out of the White House raising campaign money for Harry Reid and the DNC while the North Koreans are detonating nukes and launching missiles threatening nuclear war.

Priorities?

[kmfarm]

Overhype from the White House? ABC news Jake Tapper comments.

Stimulus Overhype? - Political Punch

[kmfarm]

Overhype continued. White House takes credit for jobs that were going to happen anyway.

How do you believe these people? Oh that's right, if he says it, it must be true. Escpecially if it's in a report.

Follow the Stimulus, Part 2: Stoves in Davenport, Iowa - Political Punch

[kmfarm]

White House is working to silence criticism of the Stimulus. First Amendment issue? Read the report closely.

They're not even trying to hide it.

White House moves to restrict criticism of stimulus projects | Washington Examiner

The White House - Blog Post - Update on Recovery Act Lobbying Rules: New Limits on Special Interest Influence