Posted on 10/22/2008 9:52:03 AM PDT by meandog
Momentum is building for a new program to boost economy.But Democrats and Republicans have very different ideas on how to do it.
NEW YORK (CNNMoney.com) -- The drumbeat for lawmakers to do more to boost the economy is growing louder. And the chances have increased that Congress could pass a second stimulus package during its lameduck session following the presidential election.
Over the weekend, Ed Lazear, the president's chief economic adviser, said that at least "parts of the country" are already in recession.
On Monday, Federal Reserve Chairman Ben Bernanke told House lawmakers that "consideration of a fiscal package by the Congress at this juncture seems appropriate" given the risk of a "protracted slowdown."
And the White House said again that President Bush would be "open" to ideas for a second stimulus package, although press spokeswoman Dana Perino added that the administration would want to see details first before signing on. The administration believes that many of the proposals being discussed would not stimulate the economy.
Subtext: one person's idea of stimulus is another person's idea of pork.
(Excerpt) Read more at money.cnn.com ...
Cue Looter Guy pic...
Sent me my 2% of 700 Billion. I’ll get the country going.
my family got screwed with the last “stimulus”....basically is helped me pay my income taxes a little bit...
How about a moratorium on cap gains taxes? That would be a helluva lot better than another d@mned stimulus check.
There goes some more money out of my wallet, since I actually pay taxes and don’t “Qualify” for any “Giveaways”. I know, I know, that’s racist!
We got no “stimulus” at all—we have 4 kids and are “middle class” by SF Bay Area standards but we got phased out, barely—it’s too bad a $100K salary is viewed as equally as wealthy as $500K+. . .
I don't think the IRS will be seeing any taxes from capital gains anytime soon, regardless of the tax rate.
My kid was born Feb 10th and so no deduction on my taxes last year. And now we’re going to get a second handout and again I can’t count my boy. I’m going to remind him of this when he’s older.
/drama rant
I got my new toaster!
It now appears that the function of government is to give us goodies and treats whenever we feel bad. A hundred billion here, a few hundred billion there...
Whatever happened to the business cycle? Recessions are a part of life. The first stimulus had absolutely no effect on the economy. How many more “stimuli” are we going to need?
Say “Goodbye” to the U.S. dollar, and to the country as we know it. Our Nanny in Washington knows what’s best for us, and will take care of our every need. Who needs freedom when you can get a handout?
That would do the trick, especially, I think, combined with lower oil prices.
How do you distract a pissed off dog, throw him a bone.
Rob taxpayers of over $700 billion and then offer a few bucks back to a few??? Does anyone have any business or finance education in DC?
We spent the last one in Canada LOL.
It financed our first ever trip to the Canadian F1 Grand Prix. Big fun, and I’m glad we went, especially as they canceled it for 2009 :( .
If we get another one I might buy gold with it, or US Bond index puts.
LQ
LOL!
If you get a check buy guns and ammo...
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