$145 billion "economic stimulus package"

[Slew Foot]

http://biz.yahoo.com/ap/080118/economy_stimulus.html

So what do you think of the plan? While I never am against a tax cut, I think it's pissing into the wind as far as any real stimulus goes. Its a quick handout that'll buy most people gas and food for a month and then poof, back into the same boat. What do we get? A bigger deficit, more debt, a weaker dollar, and more inflation.

Edit: haha, yeah a $145 bill probably wouldnt do much

 

[bamacre]

I think you should edit the OP and add the word "billion."

 

[theeedude]

How is he planning to pay for it?

 

[nageov3t]

leave is to Republicans to propose a bill that outspends Hillary and Obama's proposals combined.

 

[bamacre]

Originally posted by: senseamp
How is he planning to pay for it?

Your kids will pay for it.

 

[bamacre]

Originally posted by: loki8481
leave is to Republicans to propose a bill that outspends Hillary and Obama's proposals combined.

That's because he is twice the president they would be.

 

[jonks]

Originally posted by: senseamp
How is he planning to pay for it?

You want explanations out of him?

 

[Mermaidman]

And in related news:
Stocks fall after Bush announces plan

 

[LegendKiller]

Originally posted by: Mermaidman
And in related news:
Stocks fall after Bush announces plan

rofl.

 

[StageLeft]

I mean really it's absurd isn't it? He's helmed the country nearly doubling its total debt in just two terms and talks now of rebates up to $800. Why not just close down the IRS for a year and forget taxes altogether? I am for tax cuts--but more than that; I'm for less government and a fiscally responsible government cuts taxes only in the face of slashed spending. Bush jacks up spending and cuts taxes. It's patently asinine. How many other ways can he screw this country before leaving? Are there enough numbers to even count the ways?

Sometimes these ideas of cutting taxes to stimulate the economy for a net gain feels like a fat person who needs to lose weight addressing it by eating more because if they're heavier, they'll burn more calories and therefore lose weight.

 

[GoPackGo]

You know the true hopes that this stimulus package is that people use it to pay bills like credit cards and house payments.

Its a sneaky way of another corporate bailout!

 

[StageLeft]

Originally posted by: GoPackGo
You know the true hopes that this stimulus package is that people use it to pay bills like credit cards and house payments.

Its a sneaky way of another corporate bailout!

I wish $800 would cover a house payment and CC bills.

Honestly, this is a good time to buy BestBuy stock. I'd like to know how their business does after such a rebate, I bet sales of TVs and PS3s will shoot up.

 

[reeserock]

I'd be using it for bills and fuel, not toys, but I assume most folks will spend it on things they dont need.

 

[Slew Foot]

Originally posted by: Mermaidman
And in related news:
Stocks fall after Bush announces plan

I may be reading that article wrong but it seems like the bankers wanted MORE stimulus. Yeesh, those guys must really be in the hole.

 

[Slew Foot]

Like Hurricane Katrina, give a guy with nothing $2000 and watch him by a plasma TV instead of food.

 

[nageov3t]

Originally posted by: Slew Foot

Originally posted by: Mermaidman
And in related news:
Stocks fall after Bush announces plan

I may be reading that article wrong but it seems like the bankers wanted MORE stimulus. Yeesh, those guys must really be in the hole.

"I think the institutional investors understand the limits to the government's ability to enact economic change."

 

[Pabster]

Originally posted by: loki8481
leave is to Republicans to propose a bill that outspends Hillary and Obama's proposals combined.

How do you figure? Hillary's proposal was $75 billion. Obama's was 130 billion. This is 145 billion. I think your math is way off... :laugh:

Not that I agree with any of it. I think it's a terrible idea. Might as well just hand out debit cards with the Treasury logo and watch it sink.

 

[nageov3t]

Originally posted by: Pabster

Originally posted by: loki8481
leave is to Republicans to propose a bill that outspends Hillary and Obama's proposals combined.

How do you figure? Hillary's proposal was $75 billion. Obama's was 130 billion. This is 145 billion. I think your math is way off... :laugh:

Not that I agree with any of it. I think it's a terrible idea. Might as well just hand out debit cards with the Treasury logo and watch it sink.

the numbers in my head were wrong

I thought Hill's was like 60-something with O slightly outspending her

 

[StageLeft]

Originally posted by: Slew Foot
Like Hurricane Katrina, give a guy with nothing $2000 and watch him by a plasma TV instead of food.

But that stimulates the economy!

Oh, you mean the US and not China's? Oops!

Here's what I'm going to do if I get an $800 rebate: Buy a bunch of radio control airplane gear from China. Not sure how that will stimulate the US economy, but wth. Either that or buy some European stocks or buy some gold before the dollar becomes totally and utterly worthless.

 

[spidey07]

Given how much the Bush tax cuts did previously to stimulate growth/economy this is probably another really good idea. If we could only make the cuts permanent.

Also everything I've read states both dems and republicans support this.

 

[palehorse]

Originally posted by: loki8481
leave is to Republicans to propose a bill that outspends Hillary and Obama's proposals combined.

that's not entirely true. Both Hillary and Obama's plans involved huge "reserve" funds that make their proposals total well over 100 billion each. I believe Obama's reserve was 45 billion on top of the initial 75 billion.

just sayin'....

Originally posted by: senseamp
How is he planning to pay for it?

When did you start caring about how we're going to pay for handouts?!

 

[Thump553]

It worked for GWB before. Remember the note that came with your last federal "rebate" check essentially saying it was because of President George W. Bush? Cynical thinking would say this is a ploy to placate the consumers/voters before the next election.

$800 is not much more than one tank of home heating oil. It's chump change to someone in serious financial trouble due to an escalating mortgage, etc.

Is anyone but me concerned to the extent our country's prosperity is propped up by near zero percent interest rates and such rebates (ie handouts)? I'm beginning to think our economy is more smoke and mirrors than substance.

 

[Slew Foot]

Originally posted by: Thump553
It worked for GWB before. Remember the note that came with your last federal "rebate" check essentially saying it was because of President George W. Bush? Cynical thinking would say this is a ploy to placate the consumers/voters before the next election.

$800 is not much more than one tank of home heating oil. It's chump change to someone in serious financial trouble due to an escalating mortgage, etc.

Is anyone but me concerned to the extent our country's prosperity is propped up by near zero percent interest rates and such rebates (ie handouts)? I'm beginning to think our economy is more smoke and mirrors than substance.

Been that way for a few years now. Credit cards and HELOCS, if you ever had to pay for the things you buy, we'd be in a world of shit.

 

[Craig234]

Originally posted by: palehorse74

Originally posted by: loki8481
leave is to Republicans to propose a bill that outspends Hillary and Obama's proposals combined.

that's not entirely true. Both Hillary and Obama's plans involved huge "reserve" funds that make their proposals total well over 100 billion each. I believe Obama's reserve was 45 billion on top of the initial 75 billion.

just sayin'....

Originally posted by: senseamp
How is he planning to pay for it?

When did you start caring about how we're going to pay for handouts?!

We liberals are the fiscally responsible party, the lies of the Republicans notwithstanding. You might disagree with us on our spending choices, but we're not the big debt increasers.

 

[StageLeft]

Originally posted by: Thump553
It worked for GWB before. Remember the note that came with your last federal "rebate" check essentially saying it was because of President George W. Bush? Cynical thinking would say this is a ploy to placate the consumers/voters before the next election.

$800 is not much more than one tank of home heating oil. It's chump change to someone in serious financial trouble due to an escalating mortgage, etc.

Is anyone but me concerned to the extent our country's prosperity is propped up by near zero percent interest rates and such rebates (ie handouts)? I'm beginning to think our economy is more smoke and mirrors than substance.

If you want to trample the God-given right of the American consumer to get something without paying for it, go back to Russia!!