"This will be good for everyone nostalgic for the Jimmy Carter years."A year ago I was telling my kids to learn how to get by without that daily dose of Starbuck's, trips to Vegas etcetera because it "feels like it did in the '70s to me."
Posted on 01/08/2009 5:25:22 AM PST by tobyhill
President-elect Barack Obama said Thursday that the U.S. recession could "linger for years" unless Congress acts to pump unprecedented sums from Washington into the U.S. economy, making his highest-profile case yet on an issue certain to define his early presidency.
"I don't believe it's too late to change course, but it will be if we don't take dramatic action as soon as possible," Obama said in a speech set to be delivered at George Mason University in Fairfax, Virginia, outside Washington. Excerpts from his prepared text were released in advance by his transition team.
"A bad situation could become dramatically worse," he said, painting a dire picture -- including double-digit unemployment and $1 trillion in lost economic activity -- that recalled the days of the Great Depression in the 1930s.
It was the fourth day in a row that Obama has made a pitch for a huge infusion of taxpayer dollars to revive the sinking economy.
(Excerpt) Read more at foxnews.com ...
...in which case it will linger for decades.
Cut taxes and cut government entitlements!
Like Rush said yesterday, “The New Deal worked like a charm, just as FDR wanted.”
40 years of Democrat rule in Congress.
what a boob
he is either unware or ideologically unable to accept that with govt unleashing its tax laws, there is at least 3 times more privately held money just waiting to jump into our economy, then he can even order Bernanke to print
money is debt, folks- our money is nothing more than notes of indebtedness, a “gubmint” promise to pay its currency holders back ..... sometime in the future... and Bambi and the screwups in Congress know no “solution” to running an economy except keep the FED printing
- ka ching
“Obama Warns of Dire Consequences Without Stimulus ($1,200,000,000,000 Deficit on Obama’s watch) “
***************
Dunno bout you folks—I’m sick and xxxing tired of warnings from these tawdry political terds!!!!!
Warnings when you watch a movie dvd, cigarette warnings, warnings, warnings, warnings!
Not just citizens—according to numerous noose articles, even the congress critters were threatened w/martial law for hesitating on the original bailout scam.
Didn’t Paulson warn of the same thing regarding the TARP???
Exactly
Perhaps they were reminded that Putin circled his legislators with tanks when they balked at carrying out his will
change they can believe in
Which liberals will never do. They think that sending the $ 500 checks mostly to people who do not pay income taxes is going to save us from a deep recession. Yet they forgot that last year the $ 600 checks sent to people did not do a squat to help in anything.
yes
PAULSEN to President: “Give Ben and me 700 BILLION by sundown tomorrow before Congress all goes home to celebrate the start of Jewish New Year...or Main Street is all gonna (financially) die ...”
Mr Paulsen, how did you arrive at the figure of $700 BILLION?
“I knew the figure had to be ...big”
And how has it been spent thus far?
(crickets)
Two points.
1. What are the dire consequences of this gigantic pork bill?
2. What is the plan to end the deficit spending?
Without the above how can we judge success?
As far as I am concerned with the success shown with the first two stimulus pork bills, one for people, one for wallstreet, I say we skip it altogether.
Brace yourselves for unemployment and interest rates in the double digits. Printing more money should help get us their faster.
This will be good for everyone nostalgic for the Jimmy Carter years.
"This will be good for everyone nostalgic for the Jimmy Carter years."Throwing money at the problem won’t work. Roosevelt tried it and lost. Putting people back to work is the only way to go.
We’re rapidly approaching the point of no return - the time when interest on the debt is greater than tax revenue. China is financing our debt to the tune of $1.4 trillion with Japan not far behind. Drudge has an article about China’s reluctance and financial inability to finance much more of our debt.
European countries as worse off than we are. Who’s going to finance our debt and when interest exceeds our ability to pay it (never mind principal), what are we going to do? If we just print more money, the value of the dollar is going to plummet with runaway inflation. If the government defaults, say goodbye to your Social Security and Medicare. Other cuts will be draconian.
We’re in serious trouble now, folks. We can’t take on more debt. Call your elected officials and tell them - oppose this bill.
I think he knows exactly what he’s doing. This is the price of establishing an “equal” and “fair” society.
Maybe it’s time to move to Iraq. They seem to be getting their act together! ;-)
“...unless Congress acts to pump unprecedented sums from Washington into the U.S. economy”
I’m a bit puzzled. Does Washington DC have a vast, underground storeroom of money, waiting to be distributed?
Or does it take money from the rest of the country, pulling it out of distribution, and then redistribute it - after taking a processing fee of 20-40%?
How does taking money out of Arizona, sending it to DC, removing part of it, and sending the remainder back to Arizona stimulate ANYTHING in Arizona?
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