Some CEOs Defend Stimulus

[bamacre]

I have a lot of cash sitting on sidelines.

If you literally mean "cash," then that's dumb. Do you realize what Helicopter Ben is doing to your cash?

 

[theeedude]

If you literally mean "cash," then that's dumb. Do you realize what Helicopter Ben is doing to your cash?

I didn't say American cash

 

[bamacre]

I didn't say American cash

That you didn't.

 

[hal2kilo]

Good just got another 5% raise, and judging from the number of recruiters contacting me, there is hiring going on in engineering. It's nice being a liberal elite. I guess if I was a pickup driving teabagger doing construction, I might be complaining.

Another elitist getting raises here.

 

[theeedude]

Another elitist getting raises here.

It's so worth it getting brainwashed in Ivy League school for 4 years

 

[IndyColtsFan]

It's so worth it getting brainwashed in Ivy League school for 4 years

If said school saw your posts here, they'd likely revoke your degree.

 

[theeedude]

If said school saw your posts here, they'd likely revoke your degree.

And give up on alumni donations? I don't think so, buddy.

 

[Throckmorton]

LOL, do you not see that this is temporary? Short-term thinking FTL.

It's supposed to be temporary. Are you some kind of socialist?

 

[IndyColtsFan]

And give up on alumni donations? I don't think so, buddy.

You're right, everyone knows the almighty dollar rules them. Just look at GWB's tenure there as proof enough.

 

[nick1985]

Whew, talk about reckless!

LOL. From your link

"The legislature passed the $86.6 billion general fund budget on Oct. 8, 2010, 100 days after the start of FY2011.[1] Despite the passage of the budget, days later the Senate leader announced that he would try to revise the budget when a new governor is sworn in in 2011.[9] Darrell Steinberg said that his first priority after a new governor takes office next year will be to restore the almost $1 billion in social services cuts that were made as part of the FY2011 budget.[9]"

 

[Munky]

Even if it is temporary, it's better to spend money on stimulus so people are working instead of spending it on unemployment and welfare for people sitting at home and letting their skills and morale deteriorate.

That one I agree with. If all your party is thinking is how to damage the economy enough to hurt Obama in 2012, that is some serious nearsightedness.

That's like saying it's better to take pain medications to numb the symptoms of cancer, than to perform a complicated, expensive but very much necessary operation to cure it.

 

[theeedude]

That's like saying it's better to take pain medications to numb the symptoms of cancer, than to perform a complicated, expensive but very much necessary operation to cure it.

No, it's like saying it's better to take strong enough antibiotics and cure an infection from the start, than water them down to save money and let it do damage and grow resistance.

 

[Munky]

No, it's like saying it's better to take strong enough antibiotics and cure an infection from the start, than water them down to save money and let it do damage and grow resistance.

Except that the stimulus is not curing anything, and never will. You cannot borrow your way out of debt.

 

[theeedude]

Except that the stimulus is not curing anything, and never will. You cannot borrow your way out of debt.

Depends on interest rate and ROI you get on the debt.

 

[nick1985]

Depends on interest rate and ROI you get on the debt.

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aYUeBnitz7nU

"The $2.59 trillion of Treasury Department sales since the start of 2009 have created a glut as the budget deficit swelled to a post-World War II-record 10 percent of the economy and raised concerns whether the U.S. deserves its AAA credit rating. The increased borrowing may also undermine the first-quarter rally in Treasuries as the economy improves."

"While Treasuries backed by the full faith and credit of the government typically yield less than corporate debt, the relationship has flipped as Moody’s Investors Service predicts the U.S. will spend more on debt service as a percentage of revenue this year than any other top-rated country except the U.K. America will use about 7 percent of taxes for debt payments in 2010 and almost 11 percent in 2013, moving “substantially” closer to losing its AAA rating, Moody’s said last week. "



The debt is slowly, but surely, sinking this nation. Refuse to believe it all you want, just stick your head in the sand and think government spending is amazing. Go right ahead. In 5-10 years this country will be in a world of hurt at this pace. This cannot be denied. Ignoring it is borderline criminal.

 

[theeedude]

US is able to sell it's debt at negative real interest rates. Are you saying the private markets are so stupid they would lend at negative real interest rates to a "sinking" nation?