Posted on 07/01/2009 3:23:53 PM PDT by pleikumud
The $787 billion U.S. economic stimulus package may not be able to live up to lofty expectations, painting President Barack Obama into a policy corner once the money runs out.
With only a little under 7 percent of the stimulus actually paid out so far, it is a bit early to try to measure success. However, the White House is already fielding questions about whether another spending package will be needed.
The problem is that while a sum of $787 billion may be vast, it pales in comparison to the more than $12 trillion in household wealth that has been wiped out since the recession began at the end of 2007.
That is why consumers saved a substantial portion of the government money they received. Now that the flow of government money to households is slowing, the concern is there won't be sufficient spending to power a consumption-driven economy.
(Excerpt) Read more at cnbc.com ...
The major components of the stimulus bill are: 1) extremely small tax breaks for primarily low income people; 2) expansion of welfare benefits; and 3) spending on public projects such as roads, bridges. None of this will result in a recovery.
Tax cuts are needed, but instead of cutting taxes Obama plans to let the Bush tax cuts expire, which will add something like $1 trillion a year to Americans' tax burden beginning in 2011. On top of this, Obama's cap & trade legislation will increase unemployment by millions of jobs, and new taxes are in the works to pay for socialized medicine.
So Obama is engineering an economic depression. He has deliberately set on a course to destroy capitalism and freedom.
A big BROWN economic hole
No American MSM outlet would dare write that sentence.
Rush, rush, rush...we have to pass this NOW or the world will absolutely end the next day!
That is all we heard and yet, we find that in over 5 months, that only 7% has been actually spent.....what happened to the world would come to an end TOMORROW!?!?!
I find it amazing, if not outright BS!, that people, to include the media, are in Barry protectionist mode and claiming/asserting that it is still to early to judge whether the PORKULUS was a success of failure.
These morons should be publically executed, period.
Shovel ready jobs? My arse.
7% spent out? My arse.
2.5 million jobs to be CREAYED not saved. My arse!
600,000 jobs created this summer? Definately my arse.
The majority of American people better wake the frak up before their world and reality is literally flipped upside down. Grrrr!!!
According to local media here in Indianapolis, the first shovel ready project to be completed nationwide is a local county airport here in Hamilton Cty that was repaved. They have a big sign in front mentioning the stim program.
The irony in this is the airport is 99% used by “rich” white Republicans for their private and business planes.
http://www.insideindianabusiness.com/newsitem.asp?ID=36305
Withstanding the irony...unemployment in manyy, many states continues to rise as does unemployment national wide. Shovel-ready jobs my arse.
It is working as part of his immigration reform. The idea was to detroy our economy, so they illegals will no longer have a reason to come to america. If that is what his plan was, then I think it is working.
I think that spending reductions of 50% of the total federal government budget are needed more so than tax cuts at this time. Cut spending, then cut taxes. But 0booooooombashit the socialist-fascist-commie usurper-in-chief will never do that.
Who in their right mind would want to sneak into this high taxed, socialist farce of a nation that seats Al Franken in its senate and elects an ineligible Kenyan to POTUS?
If they love individual freedom, I suggest they sneak somewhere else.
He was a comic, and now he is he is a Senator. Hey, remember Minn, they elected Ventura a wrestler govenor. I think they are voting for best entertainer, not political candidate.
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