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Do We Need a Second Stimulus?
The Wall Street Journal ^ | 07-09-09 | EDWARD P. LAZEAR

Posted on 07/08/2009 8:34:57 PM PDT by GOP_Lady

A more troubling question is why so little is being spent from the first.

In "Brewster's Millions," a comedy starring Richard Pryor, a man is told he can keep $300 million if he manages to spend $30 million in one month. The movie documents -- with a great deal of humor -- his difficulties getting the money spent. The Obama administration is currently facing a similar problem with its "stimulus" spending, only without the humor.

With the economy weak and the labor market continuing to decline, there is now talk of a second stimulus (which is actually the third, counting President Bush's 2008 tax rebates). This would be a mistake. The truth is there hasn't been any stimulus to speak of so far this year. Moreover, what's being called stimulus is just a smoke screen for a permanent expansion of government. Let's start with some facts.

(Excerpt) Read more at online.wsj.com ...


TOPICS: Editorial; Government; News/Current Events; Politics/Elections
KEYWORDS: porkulus
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1 posted on 07/08/2009 8:34:57 PM PDT by GOP_Lady
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To: GOP_Lady

I remember that movie. The thought occurred to me that the easiest way to waste 30 million dollars would be to...

...make a movie.


2 posted on 07/08/2009 8:36:52 PM PDT by Tony in Hawaii (NUTS!)
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To: GOP_Lady

Why is “no” such a bad word?

The way I look at it, if someone were to ring my doorbell and ask to come into my home and subsequently steal everything not bolted down, I’d say “no.” If someone were to ask to provide my three-year-old with a $300,000 mortgage loan, saddling her with debt long before she ever had the opportunity to earn a dime, I’d say “no.” If someone were to ask whether or not I’d willingly pay twice as much each month for electricity, I’d say “no.”

http://www.americasright.com/2009/07/doctrine-of-constructive-obstructionism.html

So how many ways are there to just say NO!


3 posted on 07/08/2009 8:38:32 PM PDT by FromLori (FromLori)
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To: GOP_Lady
Well, first there was the spending, then the Health Scare and the Global Warming Scam and Trade, then Obama was on the wrong side, in Iran and on the wrong side, in Honduras and on the wrong side, on Israel -—

And Obama’s poll numbers are now starting to dip.

Just wait for the first SCANDALS!

How in the world can any organization, or individual, deal with this much money, without a scandal breaking out?

4 posted on 07/08/2009 8:41:21 PM PDT by Kansas58
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To: GOP_Lady

Not happening, guess what? The rats happy times are over!

The 60th seat came at the PERFECT time for us, when dems hit quicksand. The fun begins! Finally!


5 posted on 07/08/2009 8:42:02 PM PDT by sickoflibs (Socialist Conservatives: "'Big government is free because tax cuts pay for it'")
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To: GOP_Lady

I don’t think a “second stimulus” would help. I’d try, DRILL HERE! DRILL NOW! I know that would work.


6 posted on 07/08/2009 8:49:17 PM PDT by FlingWingFlyer (Hey America! How's that "hope and change" thing working out?)
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To: GOP_Lady

Let us never forget where FASCIST Obama is coming from!!!

The Democrats and FASCIST Obama are DOING IT ON PURPOSE!!!




Here's the mind of Fascist Obama, from another poster LomanBill.


So you see, FASCIST Obama is currently on stage III of their plan "bring the country to the verge of crisis".

Don't you see it?


7 posted on 07/08/2009 8:55:28 PM PDT by Yosemitest (It's simple, fight or die.)
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To: GOP_Lady

If the first failed, why do they think it going to work again? They already had one bite of the apple.


8 posted on 07/08/2009 8:57:30 PM PDT by ErnstStavroBlofeld (A leader does not deserve the name unless he is willing occasionally to stand alone-Henry Kissinger)
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To: GOP_Lady
I keep hearing talk that we NEED a second stimulus because the stock market is tanking.

The fact of the matter is, the stock market is tanking BECAUSE of the talk of a second stimulus.

9 posted on 07/08/2009 8:58:00 PM PDT by TexasNative2000 (Bush was the dumbest sounding smart President, and Obama is the smartest sounding dumb President.)
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To: GOP_Lady

We don’t even need the first.


10 posted on 07/08/2009 9:02:57 PM PDT by freekitty (Give me back my conservative vote.)
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To: GOP_Lady

No, if anything, we could use a first stimulus. Money for Chocolate Mussolini’s brown shirts doesn’t count.


11 posted on 07/08/2009 9:24:32 PM PDT by stop_fascism (Georgism is Capitalism's best, last hope)
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To: Kansas58
How in the world can any organization, or individual, deal with this much money, without a scandal breaking out?

Exactly. I read here yesterday that there's a chunk gone "missing" in NJ (wow, there's a surprise).

12 posted on 07/08/2009 9:24:32 PM PDT by 1066AD
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To: GOP_Lady

Yep, if they just gave every american $2000 (300 million americans, that would be 600 billion dollars, which would be less than the actual stimulus), and let the states collect normal taxes on the $2000 (which would give states a boost without strings), we’d have 300 million people each deciding how to spend a little money — something we are all very good at.

We’d have spent it all in a couple of months, and the economy would be slightly better than it was in January.

Instead, the bill itself cause major debt to be expected, which hurt the economy, while they didn’t actually spend the money, so there is no stimulus.


13 posted on 07/08/2009 9:35:25 PM PDT by CharlesWayneCT
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To: GOP_Lady

It’s not the second “bailout” ,Its the third! Don’t forget the one McLame endorsed that helped seal his defeat!


14 posted on 07/08/2009 9:56:23 PM PDT by Nateman (If liberals aren't screaming you're doing it wrong.)
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To: sonofstrangelove

Obama’s “stimulus/bailout” economy works on the same principle as defining a good driver as someone who knows how to use the car’s accelerator & steering wheel, but thinks brakes are outdated technology, a design defect.


15 posted on 07/08/2009 10:27:24 PM PDT by FoolishVirgin Press
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To: FoolishVirgin Press

LOL You are right!Good Analogy


16 posted on 07/08/2009 10:42:51 PM PDT by ErnstStavroBlofeld (A leader does not deserve the name unless he is willing occasionally to stand alone-Henry Kissinger)
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To: GOP_Lady
Good Lord, NO!

We didn't need the first one!

BTW, where has the economy been “stimulated”?

I see things getting WORSE with government meddling.

This is a disaster with an ugly price tag.

Mark my words, Obama will be the most despised President we've ever had when people figure out how he screwed them with hopeless “change”.

17 posted on 07/08/2009 11:07:54 PM PDT by nmh (Intelligent people recognize Intelligent Design (God).)
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To: GOP_Lady
Stimulus that would work...

Cut corporate income tax rates by 50%, no sunset provisions.

Cut income tax rates by 50%, no sunset provision.

Reduce capital gains taxes to 5%, no sunset provisions.

Increase the social security retirement age to 85 for anyone that is currently less than 50 years old and physically capable of working.

Make all profits from acquiring existing mortgage backed securities expempt from any and all taxes.

Repeal existing "stimulus" dollars that will not be spent prior to 12/31/2009, and impose a 2-1 payback penalty on any entity that doesn't comply.

Cut every non-defense budget item to fiscal year 2000 funding levels across the board.

Kill any discussions or actions regarding cap and trade or requlation on carbon emissions.

Personal opinion, but that would be a pretty good start...

18 posted on 07/08/2009 11:28:49 PM PDT by !1776!
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To: GOP_Lady
Hell no...see this thread I started:

Administration Tries To Shade Truth Of Failed Liberal Stimulus Experiment ( Graphs .....)

19 posted on 07/09/2009 12:11:05 AM PDT by Ernest_at_the_Beach (Support Geert Wilders)
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To: Ernest_at_the_Beach

Thank you, Ernest!


20 posted on 07/09/2009 4:28:24 AM PDT by GOP_Lady
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