Democrats Plot 2nd Stimulus

[Patranus]

WASHINGTON (AP) - Confronted with big job losses and no sign the U.S. economy is ready to stand on its own, Democrats are working on a growing list of relief efforts, leaving for later how to pay for them, or whether even to bother.

Proposals include extending and perhaps expanding a popular tax credit for first-time home buyers, and creating a new credit for companies that add jobs. Taken together, the proposals look a lot like another economic stimulus package, though congressional leaders don't want to call it that.

Democratic leaders in Congress and the White House say they have no appetite for another big spending package that adds to the federal budget deficit, which hit a record $1.4 trillion for the budget year that ended last week.

http://apnews.myway.com/article/20091008/D9B76AUO0.html

Didn't Obama and Biden say what they did saved the economy? If so, why is there need for a 2nd stimulus?

Really with a $1.4 TRILLION dollar deficit but up by the Obama administration? Really? I mean Bush only posted a $470 billion dollar deficit when he left office.

Borrow and spend to spur borrowing and spending to solve the problems brought on by too much borrowing and spending.

 

[jpeyton]

Sweet.

 

[TruePaige]

Aww..I was hoping for a check.

 

[sandorski]

> $2 Trillion Stimulus was needed all along. Obama tried to cheat with less and fell short. Should have sufficiently Stimulated from the start.

 

[b0mbrman]

Originally posted by: Patranus

WASHINGTON (AP) - Confronted with big job losses and no sign the U.S. economy is ready to stand on its own, Democrats are working on a growing list of relief efforts, leaving for later how to pay for them, or whether even to bother.

Proposals include extending and perhaps expanding a popular tax credit for first-time home buyers, and creating a new credit for companies that add jobs. Taken together, the proposals look a lot like another economic stimulus package, though congressional leaders don't want to call it that.

Democratic leaders in Congress and the White House say they have no appetite for another big spending package that adds to the federal budget deficit, which hit a record $1.4 trillion for the budget year that ended last week.

http://apnews.myway.com/article/20091008/D9B76AUO0.html

Didn't Obama and Biden say what they did saved the economy? If so, why is there need for a 2nd stimulus?

Really with a $1.4 TRILLION dollar deficit but up by the Obama administration? Really? I mean Bush only posted a $470 billion dollar deficit when he left office.

Borrow and spend to spur borrowing and spending to solve the problems brought on by too much borrowing and spending.

Obama's stimulus has added $200 billion in spending so far and it created a $1.4 trillion deficit? I'm not sure I get your math.

 

[TruePaige]

Originally posted by: sandorski
> $2 Trillion Stimulus was needed all along. Obama tried to cheat with less and fell short. Should have sufficiently Stimulated from the start.

I don't know, maybe it didn't occur to him.

I was under the impression that most people begin their stimulation, and continue to stimulate until they fulfill their goals, then clean up the mess it made.

 

[sandorski]

Originally posted by: TruePaige

Originally posted by: sandorski
> $2 Trillion Stimulus was needed all along. Obama tried to cheat with less and fell short. Should have sufficiently Stimulated from the start.

I don't know, maybe it didn't occur to him.

I was under the impression that most people begin their stimulation, and continue to stimulate until they fulfill their goals, then clean up the mess it made.

It should have, top Economists were stating the need well before he even took Office. Political considerations were likely the reason it fell short.

 

[Patranus]

Originally posted by: b0mbrman
Obama's stimulus has added $200 billion in spending so far and it created a $1.4 trillion deficit? I'm not sure I get your math.

Might want to recheck your facts.
There was that omnibus spending bill that was 410 billion dollars alone in February.

That doesn't even include the Obama 'stimulus' package that was rushed through congress.

 

[OCGuy]

Originally posted by: sandorski
> $2 Trillion Stimulus was needed all along. Obama tried to cheat with less and fell short. Should have sufficiently Stimulated from the start.

$2 Trillion?


Why stop there, it is play money anyway. Lets just make it $10 trillion and call it a day.

By the way, Democrats dont want to call it a second "stimulus," because they can actually see the voters running to the other side for 2010.

Oh happy day!

 

[OCGuy]

Originally posted by: TruePaige

I was under the impression that most people begin their stimulation, and continue to stimulate until they fulfill their goals, then clean up the mess it made.

........

I dont think I've ever been so strangely aroused in P&N.

 

[sandorski]

Originally posted by: OCguy

Originally posted by: sandorski
> $2 Trillion Stimulus was needed all along. Obama tried to cheat with less and fell short. Should have sufficiently Stimulated from the start.

$2 Trillion?


Why stop there, it is play money anyway. Lets just make it $10 trillion and call it a day.

You replace what's lost in the Private Sector with $$ from the Public Sector. $2+ Trillion is the number, not $10trillion.

 

[OCGuy]

Originally posted by: sandorski

You replace what's lost in the Private Sector with $$ from the Public Sector. $2+ Trillion is the number, not $10trillion.

Good luck with that. :laugh:

They will extend the house credit and do some tax cuts and credits. Nothing like what you are hoping.

"But with unemployment reaching nearly 10 percent, many lawmakers are feeling pressure to act. Some of the proposals come from the Republicans' playbook and focus on tax cuts, even though they, too, would swell the deficit."

Kind of the opposite of what you are suggesting, no?

 

[miketheidiot]

Originally posted by: b0mbrman

Originally posted by: Patranus

WASHINGTON (AP) - Confronted with big job losses and no sign the U.S. economy is ready to stand on its own, Democrats are working on a growing list of relief efforts, leaving for later how to pay for them, or whether even to bother.

Proposals include extending and perhaps expanding a popular tax credit for first-time home buyers, and creating a new credit for companies that add jobs. Taken together, the proposals look a lot like another economic stimulus package, though congressional leaders don't want to call it that.

Democratic leaders in Congress and the White House say they have no appetite for another big spending package that adds to the federal budget deficit, which hit a record $1.4 trillion for the budget year that ended last week.

http://apnews.myway.com/article/20091008/D9B76AUO0.html

Didn't Obama and Biden say what they did saved the economy? If so, why is there need for a 2nd stimulus?

Really with a $1.4 TRILLION dollar deficit but up by the Obama administration? Really? I mean Bush only posted a $470 billion dollar deficit when he left office.

Borrow and spend to spur borrowing and spending to solve the problems brought on by too much borrowing and spending.

Obama's stimulus has added $200 billion in spending so far and it created a $1.4 trillion deficit? I'm not sure I get your math.

its not all the stimulus, tax receipts also dropped noticeably, as well as some temporary emergency spending

 

[miketheidiot]

Originally posted by: OCguy

Originally posted by: sandorski
> $2 Trillion Stimulus was needed all along. Obama tried to cheat with less and fell short. Should have sufficiently Stimulated from the start.

$2 Trillion?


Why stop there, it is play money anyway. Lets just make it $10 trillion and call it a day.

By the way, Democrats dont want to call it a second "stimulus," because they can actually see the voters running to the other side for 2010.

Oh happy day!

10 trillion would be both ridiculous and inflationary

 

[sandorski]

Originally posted by: OCguy

Originally posted by: sandorski

You replace what's lost in the Private Sector with $$ from the Public Sector. $2+ Trillion is the number, not $10trillion.

Good luck with that. :laugh:

They will extend the house credit and do some tax cuts and credits. Nothing like what you are hoping.

"But with unemployment reaching nearly 10 percent, many lawmakers are feeling pressure to act. Some of the proposals come from the Republicans' playbook and focus on tax cuts, even though they, too, would swell the deficit."

Kind of the opposite of what you are suggesting, no?

Time will tell what's actually done.

 

[TruePaige]

Originally posted by: OCguy

Originally posted by: TruePaige

I was under the impression that most people begin their stimulation, and continue to stimulate until they fulfill their goals, then clean up the mess it made.

........

I dont think I've ever been so strangely aroused in P&N.

Well I, for one, certainly find myself perked and stimulated by the various members of P&N. I love discussing the economic flow and how to ride out the hard times and pull out of a recession with that "job well done" glow on our faces.

 

[Patranus]

Originally posted by: miketheidiot

Originally posted by: OCguy

Originally posted by: sandorski
> $2 Trillion Stimulus was needed all along. Obama tried to cheat with less and fell short. Should have sufficiently Stimulated from the start.

$2 Trillion?


Why stop there, it is play money anyway. Lets just make it $10 trillion and call it a day.

By the way, Democrats dont want to call it a second "stimulus," because they can actually see the voters running to the other side for 2010.

Oh happy day!

10 trillion would be both ridiculous and inflationary

LOL - Have you looked at the price of gold/the value of the dollar recently?

 

[sandorski]

Originally posted by: Patranus

Originally posted by: miketheidiot

Originally posted by: OCguy

Originally posted by: sandorski
> $2 Trillion Stimulus was needed all along. Obama tried to cheat with less and fell short. Should have sufficiently Stimulated from the start.

$2 Trillion?


Why stop there, it is play money anyway. Lets just make it $10 trillion and call it a day.

By the way, Democrats dont want to call it a second "stimulus," because they can actually see the voters running to the other side for 2010.

Oh happy day!

10 trillion would be both ridiculous and inflationary

LOL - Have you looked at the price of gold/the value of the dollar recently?

lol, didn't you notice the values of both the last 8 years?

 

[b0mbrman]

Originally posted by: Patranus

Originally posted by: b0mbrman
Obama's stimulus has added $200 billion in spending so far and it created a $1.4 trillion deficit? I'm not sure I get your math.

Might want to recheck your facts.
There was that omnibus spending bill that was 410 billion dollars alone in February.

That doesn't even include the Obama 'stimulus' package that was rushed through congress.

No, the FY09 Omnibus was a holdover from Bush as well.

Or did you expect to not have the departments of Agriculture, Commerce, Interior, Energy, and Justice, NASA, Corps of Engineers, etc., at all in FY09?

[Edit 2] Except for the continuing resolution through March 6, 2009, signed on the last day of the fiscal year, September 30, 2008...

[Edit] And yes, only $200B of that """Stimulus*" has been spent already

 

[b0mbrman]

Originally posted by: miketheidiot

Originally posted by: b0mbrman
Obama's stimulus has added $200 billion in spending so far and it created a $1.4 trillion deficit? I'm not sure I get your math.

its not all the stimulus, tax receipts also dropped noticeably, as well as some temporary emergency spending

That's my point.

...unless the OP blames Obama for letting tax revenue drop $1 trillion

 

[b0mbrman]

Originally posted by: Patranus

Originally posted by: b0mbrman
Obama's stimulus has added $200 billion in spending so far and it created a $1.4 trillion deficit? I'm not sure I get your math.

Might want to recheck your facts.
There was that omnibus spending bill that was 410 billion dollars alone in February.

That doesn't even include the Obama 'stimulus' package that was rushed through congress.

But I'm glad to see that you're finally interested in facts. So look here:

http://thomas.loc.gov/home/approp/app09.html

It's in reverse chronological order, so start at the bottom. Notice that none of the 12 appropriations bills for FY09 was signed into law?

Obama since coming into office has signed:

* $787 B ARRA aka "Stimulus*" (of which less than $200 B has been spent as of the end of FY09, by Obama)
* Continuing resolution for FY09 (Bush did not pass a FY09 budget so this is still his)
* FY2009 Omnibus (ditto)
* War supplemental (Bush played the fun budget trick of not including the cost to fund the wars in Iraq and Afghanistan in the FY09 defense budget, so that he could make it look like more fiscally responsible than he actually was. So this is his)
* $3 B in two chunks for Cash for Clunkers (totally Obama's)

And there's your facts.

God, I wish I could sticky this.

 

[LTC8K6]

If we haven't even spent most of the first stimulus, and it saved us like Joe said, why would we need a second one? Even without what Joe said why would we want a second one already?

 

[boomerang]

Originally posted by: LTC8K6
If we haven't even spent most of the first stimulus, and it saved us like Joe said, why would we need a second one? Even without what Joe said why would we want a second one already?

The fundamental transformation of America must take place before the 2010 elections.

 

[Ausm]

Originally posted by: sandorski
> $2 Trillion Stimulus was needed all along. Obama tried to cheat with less and fell short. Should have sufficiently Stimulated from the start.

That's because he was pandering to the GOP who didn't vote for it anyway. You can see how well that strategy is working on healthcare also.

 

[alchemize]

I'm hoping for the 15K housing tax credit for my next handout!