Shell Game: Obama Wants to Spend $447 Billion

[FUZO]

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

 

[IronAddict]

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!

 

[troubador]

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

 

[Big Smoothy]

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.

 

[FUZO]

150 billion of it goes to unemployment

 

[irish_2003]

it could be paid for from the scam that is the high speed rail that was shoved down our throats by libtards/dumbocrats

 

[Big Smoothy]

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.

 

[irish_2003]

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

 

[LAM]

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

 

[LAM]

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)

 

[Ichigo]

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

 

[LAM]

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

 

[LAM]

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

 

[LAM]

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...

 

[Dale Mabry]

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.

 

[LAM]

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.

 

[lnvanry]

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.