for picking our pockets once again. I cant wait to be STIMULATED!!!
Seems like that’s what a lot of wives do.
i think my wife is trying to that right now.
It is clear to me that none of them know what they are doing and I can’t believe Pres. Obama put his name on this turd.
Obama doesn’t even know whats in the bill, but he gives a great speech.
obama said that roughly “3 million” jobs would be created out of this plan. also “some” roads and bridges would be constructed. (“some” is a word that makes me nervous. this means, “not many” in all actuality).
this is going to be one of the most expensive plans in history (perhaps the most expensive?), and beyond more welfare and a little healthcare, what else does it deliver?
Seriously, a $1,000.00 tax cut for couples is meaningless.
can someone help me to understand this better, because right now i’m confused…this stimulus plan was supposed to be the second coming to revitalize our nation, and it seems largely disappointing.
and is it true they’re going to print the money? if so, what does this do to the strength of the American Dollar?
***and is it true they’re going to print the money? if so, what does this do to the strength of the American Dollar? ***
Devalues it, both internationally and domestically.
Inflation is often loosely defined as an excess of $'s chasing a shortage of goods and services.
OK…I’m going to help you understand…the vast vast majority of people have no clue what the impact will be. Including Obama. He believes it will work, so let’s see.
Those who believe it will work can say whatever they want, they don’t have a clue either. It has been like this for decades with economy. Many things are started but the implications and ramifications are so deep that we really don’t see the forest behind the few trees.
Besides the obvious actions that lead to obvious consequences (for instance, going to war in Iraq is going to cost a lot of lives and piss off a lot of folks in the region), many of the gov actions remain without really predictable consequences.
Not sure how this is “Change”
.
***and is it true they’re going to print the money? if so, what does this do to the strength of the American Dollar? ***
Devalues it, both internationally and domestically.
Inflation is often loosely defined as an excess of $'s chasing a shortage of goods and services.
Actually it is much more complicated than that. It seems logical that it would do that, but there are many other factors that are at work that have an impact on the strength of the dollar.
"the vast vast majority of people have no clue what the impact will be. Including Obama. "
Really? I, and anyone else who knows the first thing about economics, have a very good idea what the impact will be.
Did you know that Hong Kong was poorer than India after WWII? India chose big govt. Hong Kong chose free enterprise. 50 years later, India was still dirt poor and Hong Kong had more Rolls Royces per capita than anywhere in the world.
Jen,
Great chart…I was watching the news and the guy defending the bill all he could say is “well, the fatcats want be getting any more help” and “its time to grow the economy from the bottom up”. Now here on the LR, the lefts response is “well, we really don’t know what will happen”.
Here are some of my concerns
- How many of these “new” jobs are permanent? IOW, once we get done building tennis courts in Madison what are we going to do with these people
- Once the economy recovers, will we continue to run trillion dollar deficts, and if not, what are we going to cut?
- Why do we want the middle class dependent on the govt?
For kicks and giggle, name for me the one entitlement or piece of welfare we have removed over the last 70 years.
This new spending may change colors but you can count on this new spending remaining in the budget for ever.
How can we not know??? Wouldn’t the economy be easier to model than, say, the climate? What is it that we don’t know and can’t model? Everything here is knowable and under human control.
Here is my plan, for starters:
Cut payroll tax for 2 years
$15,000 credit for a new home purchase
$3/sq ft. credit for commercial construction
Revive Investment Tax Credit
$300 billion to the SBA to be loaned out in year 1
Tax credit for hiring someone
$3000 rebate for buying a car made in America
Here is my plan, for starters:
Cut payroll tax for 2 years
$15,000 credit for a new home purchase
$3/sq ft. credit for commercial construction
Revive Investment Tax Credit
$300 billion to the SBA to be loaned out in year 1
Tax credit for hiring someone
$3000 rebate for buying a car made in America
Be interesting to see the definition of that.
Here is my plan, for starters:
Cut payroll tax for 2 years
$15,000 credit for a new home purchase
$3/sq ft. credit for commercial construction
Revive Investment Tax Credit
$300 billion to the SBA to be loaned out in year 1
Tax credit for hiring someone
$3000 rebate for buying a car made in America
Not bad, I’d vote for you.
I’d also,
reduce the corporate tax (particularly on small business), provide accelerated depreciation on new capital purchases, Provide a means to re-negotiate mortgages before allowing more foreclosures. Make the terms longer or reduce the rates and pay the differences but people have to stay in their homes.
True, in today’s world of Frankencars but I am confident our fine elected officials can come up with something.
How is the so called “stimulus bill” going to stimulate the economy when the last 700bill didnt do crap for the economy…
I will say it here first…they will be asking for more in 6 to 12 months…
The first bill was not a stimulus bill.
The CBO says this bill will be harmful to the economy in the long run…
As compared to doing nothing? I don’t think so.
the bill is 93% spending and a WHOOPING 7% stimulation…
The spending *is *the stimulation.
As compared to doing nothing? I don’t think so.
You obviously didn’t read my post above. Higher spending = lower GDP. That’s what the CBO said. That’s what the chart I posted above says. That’s what economists who base their thinking on actual data say. What’s your evidence?
The spending *is *the stimulation.
Really? Why didn’t it work for Japan, or any of the other countries who have tried it over the 80 years, that have passed since Keynes hatched the vapid notion?
There is a HUGE difference between predictive science and descriptive science. You showed me a graph with an explanation of what happened. You have the graph that shows what is going to happen? Care to guess how many times people (on average) doing financial models can use the models describing what happened to predict what is going to happen? On average, it’s a shot in the dark…
To answer HH, I don’t think weather forecasting is harder than economics.
Economics must take into consideration the human factor, risk aversion, irrational behavior under risk etc…
It doesn’t mean that what you think is going to happen is not going to happen…only that, you’re just guessing. And it’s somewhat naive to believe that we understand that much about economics. Why do you think 100 economists will give you 100 different answers? The only thing they will agree on, is the explanation after the facts.