Shell Game: Obama Wants to Spend $447 Billion

Results 1 to 17 of 17
  1. #1
    Senior Member
    BOARD REP
    FUZO's Avatar


    Join Date
    Aug 2011
    Gender
    Male
    Location
    USA
    Posts
    736
    Rep Points
    43025767

    Shell Game: Obama Wants to Spend $447 Billion


    Shell Game Obama Wants to Spend $447 BillionPromises Cuts Over 10 Years

    On Thursday night, President Barack Obama revealed a sweeping $447 billion stimulus and jobs plan. He told Congress that he could re-ignite a stagnant economy with massive infrastructure projects and payroll tax cuts. To pay for it, Obama said he’d cut spending by an equal amount over the next 10 years.


    THIS WILL FAIL JUST LIKE ALL THE OTHER STUFF HAS. BAD IDEA

  2. #2
    YOU ME WE
    ELITE MEMBER
    IronAddict's Avatar


    Join Date
    Sep 2008
    Location
    In my skin
    Posts
    10,360
    Rep Points
    2147483647

    What a crock! These guys are still trying to pursuade us to believe SS needs to be overhauled, cause there's no money!?

    How the hell do you just give away billions, stay involved in wars that have lasted longer than any other war, and that's 2 of em!

    And you say there is no money? What the phuq!

  3. #3
    Registered User
    troubador's Avatar


    Join Date
    Aug 2004
    Gender
    Male
    Location
    U.S.
    Posts
    2,265
    Rep Points
    362639759

    Oh yeah, it's totally going to work this time. I'm so excited, fortune is just around the next bend.

  4. #4
    Windy City
    ELITE MEMBER
    Big Smoothy's Avatar


    Join Date
    Jan 2004
    Location
    South America
    Posts
    5,608
    Rep Points
    235125658

    I've come to the point where I think Obama just does not get it.
    QE1 and QE2 were failures.

    A lot of this $447 Billion will be shuffled around, used to pay liabilities by the organizations, individuals, and companies that receive it.

    It will go a an artist's sculpture, and provide temporary work for a few people.

    I think it'd be better if he didn't win re-election in 14 months.
    It's an accurate statement that our current spending will not be increasing the debt We've stopped spending money that we don't have.

    -- Jack Lew, then director of the Office of Management and Budget, in Feb. 16, 2011 testimony before the Senate Budget Committee.

  5. #5
    Senior Member
    BOARD REP
    FUZO's Avatar


    Join Date
    Aug 2011
    Gender
    Male
    Location
    USA
    Posts
    736
    Rep Points
    43025767

    150 billion of it goes to unemployment

  6. #6
    Senior Member
    BOARD REP
    irish_2003's Avatar


    Join Date
    Jul 2010
    Gender
    Male
    Location
    on the boards
    Posts
    5,209
    Rep Points
    328823776

    it could be paid for from the scam that is the high speed rail that was shoved down our throats by libtards/dumbocrats
    www.euroking-gear.net
    please know and follow the laws of your country regarding aas

  7. #7
    Windy City
    ELITE MEMBER
    Big Smoothy's Avatar


    Join Date
    Jan 2004
    Location
    South America
    Posts
    5,608
    Rep Points
    235125658

    FUZO, thanks for the note on the $150 B for UE. I presume that $150B is for extensions?

    irish_2003, is that the high speed rail on the East Coast, connecting say, DC to Boston?

    I'm curious. I'll google that.
    It's an accurate statement that our current spending will not be increasing the debt We've stopped spending money that we don't have.

    -- Jack Lew, then director of the Office of Management and Budget, in Feb. 16, 2011 testimony before the Senate Budget Committee.

  8. #8
    Senior Member
    BOARD REP
    irish_2003's Avatar


    Join Date
    Jul 2010
    Gender
    Male
    Location
    on the boards
    Posts
    5,209
    Rep Points
    328823776

    Quote Originally Posted by Big Smoothy View Post
    FUZO, thanks for the note on the $150 B for UE. I presume that $150B is for extensions?

    irish_2003, is that the high speed rail on the East Coast, connecting say, DC to Boston?

    I'm curious. I'll google that.
    i'm talking about the forced funds that they tried to do here in wisconsin that we didn't accept and then illinois took it adding more debt to their corrupt bad debt government and california i believe.....the smart states declined this fund......the corrupt badly in debt states are taking it and adding i think up to 800 billion total that will never be paid back and will never be a profitable idea
    www.euroking-gear.net
    please know and follow the laws of your country regarding aas

  9. #9
    Is Doin It 4 Da Shorteez
    LAM's Avatar


    Join Date
    May 2002
    Gender
    Male
    Location
    Las Vegas & Florida & St. Croix
    Posts
    16,366
    Rep Points
    974265240

    Quote Originally Posted by Big Smoothy View Post
    I've come to the point where I think Obama just does not get it.
    QE1 and QE2 were failures.
    QE1 and QE2 was nothing more than the FRB buying more toxic assets from the banks and printing money for them in return, it has nothing to do with the economy. At this point the FRB does not care about employment in the US or GDP. with the FRB "lending" at 0% nothing can be done in regards to monetary policy.

    The graph below shows the BLS manipulated CPI and the "real" CPI
    Attached Images Attached Images
    William F. Buckley describes a conservative as, "someone who stands athwart history, yelling Stop." - and then proceeds to drag civilization back to times best left in history's dungheap.

  10. #10
    Is Doin It 4 Da Shorteez
    LAM's Avatar


    Join Date
    May 2002
    Gender
    Male
    Location
    Las Vegas & Florida & St. Croix
    Posts
    16,366
    Rep Points
    974265240

    Quote Originally Posted by FUZO View Post
    150 billion of it goes to unemployment
    in economic terms it is called stimulus. the original stimulus package was not big enough not with an annual GDP of 14T. with an increase in the personal savings rate GDP has contracted significantly causing a halt in hiring in the service sector.

    this stuff is not rocket science

    Personal Saving Rate (PSAVERT)
    William F. Buckley describes a conservative as, "someone who stands athwart history, yelling Stop." - and then proceeds to drag civilization back to times best left in history's dungheap.

  11. #11
    Senior Member
    ADMINISTRATOR
    Ichigo's Avatar


    Join Date
    Dec 2010
    Gender
    Male
    Location
    Bronx
    Posts
    15,962
    Rep Points
    1344021261

    Insanity = Doing the same things over and over expecting different results. = The Government

  12. #12
    Is Doin It 4 Da Shorteez
    LAM's Avatar


    Join Date
    May 2002
    Gender
    Male
    Location
    Las Vegas & Florida & St. Croix
    Posts
    16,366
    Rep Points
    974265240

    Quote Originally Posted by IronAddict View Post
    What a crock! These guys are still trying to pursuade us to believe SS needs to be overhauled, cause there's no money!?
    what they fail to address is the REAL reason as to why this may be. It's because over the past 30-40 years high paying jobs are constantly being replaced with lower paying service sector jobs. those with corp jobs are suffering from stagnant wages as well. This is why the share of the national income that goes to labor has been declining.


    Nonfarm Business Sector: Labor Share
    William F. Buckley describes a conservative as, "someone who stands athwart history, yelling Stop." - and then proceeds to drag civilization back to times best left in history's dungheap.

  13. #13
    Is Doin It 4 Da Shorteez
    LAM's Avatar


    Join Date
    May 2002
    Gender
    Male
    Location
    Las Vegas & Florida & St. Croix
    Posts
    16,366
    Rep Points
    974265240

    Quote Originally Posted by Ichigo View Post
    Insanity = Doing the same things over and over expecting different results. = The Government
    it's not insanity it all, it' called the best method based on decades of economic data in regards to US recessions and recovery efforts.


    ABANDONING WHAT WORKS
    (AND MOST OTHER THINGS, TOO)
    Expansionary fiscal policy is
    still the best tool for boosting jobs
    William F. Buckley describes a conservative as, "someone who stands athwart history, yelling Stop." - and then proceeds to drag civilization back to times best left in history's dungheap.

  14. #14
    Is Doin It 4 Da Shorteez
    LAM's Avatar


    Join Date
    May 2002
    Gender
    Male
    Location
    Las Vegas & Florida & St. Croix
    Posts
    16,366
    Rep Points
    974265240

    what most don't understand is that the underlying problem was caused by globalization which is a CHOICE by employeers to either leave jobs in the US or ship them overseas to save on labor.

    the trade deficit from China is killing the US. US manufactures could bring jobs back but then they would not make as much money. the US could increase the cost of imports but because of low and stagnant wages most could not afford this either. it's the same reason why the FRB is still lending at 0%, it can not afford to raise rates once again due to low and stagnant wages in the US.

    US company's have essentially starved themselves at this point in the quest for short-term economic gains...
    William F. Buckley describes a conservative as, "someone who stands athwart history, yelling Stop." - and then proceeds to drag civilization back to times best left in history's dungheap.

  15. #15
    Moderator
    MODERATOR
    Dale Mabry's Avatar


    Join Date
    May 2003
    Location
    Elsewhere
    Posts
    15,581
    Rep Points
    249481082

    Quote Originally Posted by FUZO View Post

    Shell Game Obama Wants to Spend $447 BillionPromises Cuts Over 10 Years

    On Thursday night, President Barack Obama revealed a sweeping $447 billion stimulus and jobs plan. He told Congress that he could re-ignite a stagnant economy with massive infrastructure projects and payroll tax cuts. To pay for it, Obama said he’d cut spending by an equal amount over the next 10 years.


    THIS WILL FAIL JUST LIKE ALL THE OTHER STUFF HAS. BAD IDEA
    He was going to pay for it with revenue increases, which won't happen.
    If sense were common, everyone would have it.

    4/2007-Current 75th Ranked most popular image 1 spot behind Prince's bulge...

    Check out my world famous Bob Loblaw's Law Blog at http://www.synergyhw.blogspot.com/...Just kidding, it's a health and wellness blog.

  16. #16
    Is Doin It 4 Da Shorteez
    LAM's Avatar


    Join Date
    May 2002
    Gender
    Male
    Location
    Las Vegas & Florida & St. Croix
    Posts
    16,366
    Rep Points
    974265240

    Quote Originally Posted by Dale Mabry View Post
    He was going to pay for it with revenue increases, which won't happen.
    it's a shame because the deficit could be wiped out with short term increases in tax rates of only several years. but as some of us know the US economy is being tanked intentionally.

    the US has the only government in the world held hostage by big corporations and a totally inept banking system.
    William F. Buckley describes a conservative as, "someone who stands athwart history, yelling Stop." - and then proceeds to drag civilization back to times best left in history's dungheap.

  17. #17
    primeau
    lnvanry's Avatar


    Join Date
    Nov 2004
    Gender
    Male
    Location
    Tucson
    Posts
    4,276
    Rep Points
    54346477

    Assuming the projects are critical and will generate the proper return, I welcome the initiative. Yes, I acknowledge this is a big assumption.

    Go buy some call options or stock depending on your risk tolerance...VMC, JEC, and CAT.

Similar Threads

  1. Replies: 20
    Last Post: 02-23-2012, 03:15 PM
  2. Obama calls for $4 billion cut to welfare
    By min0 lee in forum Open Chat
    Replies: 32
    Last Post: 04-27-2011, 04:08 PM
  3. Replies: 4
    Last Post: 02-10-2011, 02:48 PM
  4. Former Shell boss predicts $5/gal gas in 2012
    By Prince in forum Open Chat
    Replies: 17
    Last Post: 12-30-2010, 09:04 PM
  5. Replies: 0
    Last Post: 01-05-2009, 12:30 PM

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
-->