Posted on 09/02/2010 5:00:11 PM PDT by Sub-Driver
White House considering emergency economic stimuli
By: Glenn Thrush September 2, 2010 07:04 PM EDT
The Obama administration is mulling a raft of emergency fixes to stimulate the economy before the midterms, including an extension of the research and development tax credit and new infrastructure spending, according to several people familiar with the situation.
Administration officials have been huddling almost continuously during the past week, brainstorming for ideas that would boost employment without hiking the massive federal deficit – with Treasury Secretary Tim Geithner rushing to the West Wing for further consultations late Thursday.
The White House press office on Thursday refused to say how much a financial package might be, other than to say it won’t be a “second stimulus.” But the administration will have a tough time selling nearly any package to terrified, Obama-phobic Hill Democrats who increasingly blame the president – and his ambitious, expensive legislative agenda – for their dismal prospects this November.
The meetings, which had Obama huddling with his economic advisers twice in the last seven days, have yielded no specific proposals. But he’s given the team a priority: find ways to pay for as many of the ideas, mostly tax breaks, as possible without a deficit increase, an administration official told POLITICO.
The R-and-D tax cut, which Congressional Democrats have already considered would, for example, be paid for by closing overseas corporate loopholes.
(Excerpt) Read more at politico.com ...
“Creating jobs is my top priority...”
Right after healthcare, vacation, union giveaways, vacation, global warming, vacation, golf, party at the White House, don’t ask don’t tell, sue Arizona, vacation, golf, money to his special interests, vacation, golf...
Reminds me a lot of a company I worked for, run by clueless liberals btw, with constant meetings and the latest soon to be discarded game plan.
Meanwhile the company declined, people left.
NO TIME!!!!! IT IS A C-R-I-S-I-S...... the taxpayer is just gonna have to take it.
Since the first FAILULUS BILL worked so well, why not?
“Like deja vu all over again.”
Yep agreed. But the market manipulation will not last forever and it'll bottom itself again at some point. I'm waiting for the next buying opportunity. Right now stocks are a bit too expensive.
“Administration officials have been huddling almost continuously during the past week, brainstorming for ideas that would boost employment without hiking the massive federal deficit – with Treasury Secretary Tim Geithner rushing to the West Wing for further consultations late Thursday.”
BWAAAAAAHAHAHAHAHA. BWAAAAHAHAHA...They’ve had 18 months - and they’re going to ‘fix’ it in a week. Oh brother.
And further - they don’t get that government is NOT the basis of job creation.
“even the Coolidge and Reagan tax cuts didn’t just magically work in a few weeks.”
Cutting the Cap Gains tax in the 90s brought the feds from a deficit to a surplus in a quick 18 months - creating a scenario where they had to continuously revise the revenues upward monthly. This makes liberals heads explode.
They wouldn’t want to try something CRAZY like that would they?
Naw...:(
HE WAITED TOO LONG TO DO ANYTHING!!! What a Bozo!!!
“show the world that he is their man.”
In reality, he’s a real nowhere man.
Opportunity to buy more votes.
Honestly speaking, we might actually be better off with the Red Chinese running things.
Unlike the American left, they're beginning to comprehend the value of free-markets and property rights.
I guess, in a way, yes!!! Barack Hussein Obama and the nutcase Iran leader are birds of a feather and...one in the same!!! End of Story!!! “Remember November”!!! Destroy the entire “Hate America” Democrat Party at the polls this coming Election Day, November 2, 2010!!!
The only thing that could improve the economy before November would be cutting taxes-! And he is incapable of that-!
If Porkulus 1 worked so well to stop the “crisis bordering on a catastrophe” (remember that one, folks?) and saved the ecnomy (I just read that AGAIN this morning), why is a Porkulus II needed? Or are we up to Porkulus III now? PII was the teachers’ union payoff...maybe this is verson 2.02, the General Union Payoff and Emergency Democrat Slush Fund for the 2012 Electon?
Maybe they will come up with something akin to “Cash For Clunkers”! Oh yeah, that’s gonna work!
Unfortunately, Arizona “independents” voted in McInsane over Hayward in the Republican primary so he can be a thorn in the public backside for another 6 years.
Porkulus I would have been cheaper if they'd done that the first time around.
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