Posted on 09/06/2010 12:34:17 PM PDT by AmericaTalks
Barack Obama and his minions are poised to announce a four-fold Stimulus 2 package they say will add to the already successful 'summer of recovery'.
Step one is a $50 billion investment in long-term infrastructure projects that will create jobs and refill the exhausted highway trust fund. A statement from the White House press office reads "the plan builds upon the infrastructure investments the president has already made through the Recovery Act, includes principles the president put forth during the campaign and emphasizes American competitiveness and innovation".
The problem with this idea is that once again, this is an attempt to create make-work jobs, which are temporary and completely unnecessary. As Stephen Hayes, a senior writer for The Weekly Standard said in a speech delivered on June 6, 2010, during a Hillsdale College cruise from Rome to Dover aboard the Crystal Symphony regarding the first wave of the stimulus, "overnight, the federal government had, as one of its highest priorities, weatherizing government buildings and housing projects. Streets and highways in no need of repair would be broken up and repaved. The Department of Transportation and other government agencies would spend millions on signs advertising the supposed benefits of the American Recovery and Reinvestment Act".
Hayes is correct. Most of these projects were not needed. Perfectly good roads and highways were torn apart for the purpose of creating temporary employment and touting this phony Recovery Act.
And now Obama wants to do more of the same. Another band aid on a ruptured artery.
Step two is the regime's plan to reduce mortgage balances for homeowners who are underwater. Didn't they already try this? And didn't it fail miserably?
It was called the Home Affordable Modification Program (HAMP). The idea was to encourage loan services to renegotiate the terms of delinquent mortgages, so that residents might remain in their homes rather than be foreclosed upon.But it didn't quite work out that way. Instead, many of them were strung along for months, before ultimately either losing their homes anyway or remaining in limbo.
So what makes Obama think doubling down on this plan will help homeowners this time? It's called living in a fantasy world.
Step three is the regime's proposal to ask Congress to increase and permanently extend research and development tax credits for businesses while asking them to close corporate tax breaks for multinational corporations and oil and gas companies. Isn't this a case of wealth redistribution? Robbing Peter to pay Paul? Sound familiar?
Step four is to allow the Bush tax cuts to expire for those making over $250,000 a year. That should be a real incentive for many small business owners to create private sector jobs, since it is those in that income bracket that generate most of the employment (and wealth) in this country.
Republicans such as House Minority Leader John Boehner are calling for Obama to fire his entire economic team. Not gonna happen. And even if it did, it would be too little too late.
The lackluster economy, which is teetering on the verge of a Depression, combined with a 9.6 percent unemployment rate, have the Democrats in panic mode. They are already planning a triage move to throw some of their own under the bus by taking some campaign cash earmarked for some candidates and redistributing it to those they feel have the best chance of retaining their seats.
It's not going to help them one bit. There is a tsunami coming this November which will sweep away the leftists and replace them with conservatives who will restore this nation to what the Founding Fathers intended. And although the economy may still suffer for the foreseeable future, steps will be taken which will put us on the road to recovery. Obamacare will be repealed, the Bush tax cuts will be extended, and deficit spending will be severely reduced.
Unemployment, however, will take its toll on one group. The Democrats in Washington.
Listen to America Talks weekends at 9 am Eastern Time at www.blogtalkradio.com/americatalks or at www.americatalks.com.
...Stimulus 2 will just stimulate anger...people are already worried about the national debt as it is...this will really galvanize them.
bingo...& if zero goes ahead and pushes this mortgage amnesty plan for .03% of the mortgage holders in this nation, as has been reported, the kettle will over boil...
It will get a few jobs for Cranes and Bulldozers. People no longer build these things giant machines do the work.
Why not 50 Trillion. The scavengers/crooks need more than 50 Bil.
What is $50 billion or $100 billion going to do that the $800 billion to $1 trillion did NOT do? Not a damn thing? =.=
I thought the first porkulus was for “shovel ready” projects like this. The only “saved” jobs he is concerned with right now belong to dumbasses in the house and senate. Remember in November, Dismember in November!
With the amount of money that the Obama administration has blown through, the United States government could have randomly awarded a billion dollars to nearly five thousand people. Of that, they would have gotten nearly half back in taxes, and if only half of those who won the billion dollars started up businesses, or invested in the economy, it would have shown more results than the stimulus and bailout packages.
That’s a billion dollar lottery award every three and a half hours, 24/7, since Obama took office. Glad to see our money so hard at work...
a brilliant observation, and likely would have worked much better than what was actually done
Do they think anyone believes the "Summer of Recovery" was actually successful? Even the most die hard dimwits must surely see recovery has gone absolutely no where!
Yeah, that'll happen. Right.
For Pete’s Sake! These dimwits keep doing the same thing over and over expecting different results!
November can’t come soon enough!
It is the only way we are going to get out of this financial mess that the Republicans have got us into.
The Dems just don't get it!!! WE DO NOT HAVE $50,000,000,000 TO SPEND.
the Bush tax cuts will be extended, and deficit spending will be severely reduced.
The Bush tax cuts didn't stop deficit spending when Bush was in office.
What makes this moron Zublick think Bush's tax cuts are gonna stop deficit spending with Obama in office????
Cripes Almighty.... you really have to be a braindead nincompoop to believe that the Global Oil Pimps have any intention of actually balancing the budget.
It was called the Home Affordable Modification Program (HAMP).
I think they are moving up the food chain, from people that can't afford their home no matter how it is financed, to people that had bad timing.
It is still going to tick off people like me. I made a downpayment on my house and now that I am refinancing I am going to get a higher interest rate because I've crept above 80% LTV. No hand out, no special program, still paying off the amount I originally agreed to pay for the house. In the meantime I get to watch people getting sweetheart deals and principal reductions funded with my tax dollars.
Yeah, I'm going to hold a grudge.
Millions of us agree. This administration is rewarding mediocrity and giving the finger to those who played by the rules, sacrificed and honored their commitments.
And.....thanks to Obamacare, my taxes are going up. Most people would encourage medical coverage by giving tax incentives. Obama would rather penalize people for not buying coverage and tax those who already have it.
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