Whether it will work is another question. There are plenty of experts who say it won't, and plenty who say it will.Posted on 02/01/2009 2:15:46 PM PST by SmithL
Washington - -- The Obama stimulus, as history will know it, is change you can believe in. That $900 billion and counting reflects the outcome of the November election and the ascendancy of at least eight years of pent up Democratic ideas. The stimulus aims not just to revive the economy, but to shift the role of government, from a vastly increased participation in education and health care to federal investments in science, technology, mass transit and alternative energy.
Whether it will work is another question. There are plenty of experts who say it won't, and plenty who say it will.
But amid all the uncertainty about its effectiveness, all the lobbying by advocacy groups and business, all the political posturing, all the Rush Limbaugh apoplexy, all the congressional pork, all the questions about its composition and timing, experts say to remember three basic things:
-- It has to be done. The U.S. economy is caught in a dangerous, synchronized global contraction that requires federal intervention to prevent the Great Recession from becoming the Great Depression II. About 90 percent of the world economy is in or near recession, eerily like the 1930s.
-- It will not by itself be enough. Vast new sums will also be needed to fix the banks and the housing market. If not, expect a replay of Japan's "lost decade," now going on two decades.
-- It needs an exit strategy. Like former President George W. Bush's invasion of Iraq, a headlong plunge into eye-popping levels of debt with no plan for how to pay it back could tee the country up for economic calamity.
Foreigners could suddenly dump U.S. debt and the dollar. Former Congressional Budget Office chief Robert Reischauer warned recently that the financial crisis is a "wake-up call"
(Excerpt) Read more at sfgate.com ...
A must for O-vomit to pay back his supporters maybe
Wonder why the newspapers are going out of business? Morons who write stories like this.
“The Obama stimulus, as history will know it, is change you can believe in. “
Oh I believe!
I believe it is a disaster and will highlight exactly WHY you do not give more money and power to government to solve problems if you can possibly help it.
$350 mil for STD prevention? Millions for ACORN? I didn’t think that ACORN wasn’t that bad off yet. They didn’t seem to have any money problems when they were buying the last election! I don’t think the bill, as it stands right now, is a “must.”
SHORTCOMINGS!!!!! More like shortening. So much pork in this bill it reaks of hog lard. This crap needs to be in the sewer. This guy has made proposals and signed orders that do nothing but harm this country. Closing Guantanamo, stopping terrorist trials (not yet bozo), paying for international abortions, appointing tax cheaters, and appointing lobbyists in his pure administration. Pop the popcorn.
My eyes are getting misty just thinking about what will happen if the new stimulus bill isn’t passed.
Actually, they’re getting misty just thinking of having to pay the thing down.
Democrat Pro-inflation, Pro-government package.
This Michigander has had all the democrat help he can stand.
Oh BS! “Porkulus” must DIE!
I prefer to call it an ABSOLUTE OUTRAGE.
Perestroika was an organizational restructuring of the Soviet economy and bureaucracy. I know what happened.
Barrystroika (as one Freeper named it) is an organizational restructuring of the American economy and bureaucracy. I am alarmed at what will happen.
Hussein is not the Sun King, but rather the Peter Principle in action.
The SF Comical hollerin’ sou-sou-soueey.
What a surprise.
Nothing like liberals clinging to their pork, welfare and outlandish government busting crippling debt.
I beg to differ. I already know it as the Porkulus Bill (thanks to Rush) or How Communism Came to America.
That’s BILLIONS for ACORN—with a B.
Amazing << Hear this. Feel this, and tell me that this isn't music.
And dont sleep on these two, either.
I, and my wallet, are tired of another “must” coming from Washington just to help a bunch of the elites’ cronies and crooks. Paulson said we had to have the bank bailout or the world would end. He was nothing but an Obambi-shrill and a “sky is falling” crook that should be in jail....right along with Helicopter Ben. Now, we have Obambi hootin’ and hollerin’ another “must” or the world will end. Maybe his will, but yours and mine won’t....
I’m tired of paying for the crap these beltway criminals dream up.
Around here, we tighened the belt and don’t buy anything but the bare essentials (guns & ammo have an exception) and stash the rest. Some say we have the Great Depression mentality. Maybe so, but we’re gonna survive this crap...one way or the other.
We no longer trust the financial industry (banks), government or the economy. Over 20 years worth of savings/401ks have been essentially destroyed. Faith in government institutions and programs are a joke. I’m sure our grandparents probably told us that and we chose to ignore it. And I have a suspicion that we aren’t alone in our thinking. They need us to spend, we don’t need them for anything....let em dry up and blow away. Don’t buy anything other than bare essentials.
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