I would have been favor of stimulus spending if it had been on things such as research on future technologies, subsidies to small businesses, and improving education in some form..investments that pay long term dividends and would enable us to grow the economy so we could more easily pay back the debt. Instead we get money for story tellers and bridges for Microsoft.
That's cute, but I think that you, I and everyone else here knows that you'd be ranting against it all the same.
Do you even know the ramification of the stimulus? Deficit wise? How does it effect you and the next generation or do you not care?
The financial, paper side of the economy was doomed before the stimulus. The derivatives on banks' balance sheets--and hidden off the balance sheets, for that matter--contain enough liability to suck the entire banking and finance system under with barely a ripple. The total valuation of derivatives has passed a quadrillion dollars. The loss of so much as 1% in the derivatives portfolio would suck an amount of money out of the economy roughly equivalent to the annual GDP of the United States.
And we're headed for losses of much more than one percent...
__________________ NOTE: To posts seriously comparing Barack Obama to Adolf Hitler, I respond only with pictures of cute, fuzzy animals.
Do you even know the ramification of the stimulus? Deficit wise? How does it effect you and the next generation or do you not care?
Government stimulus and deficit spending got us in the mess we are in, so more government stimulus and greater deficits are giving us the equivalent of a Red Bull boost. It will wear off and when it does, we will be in even bigger trouble than we were last fall.
__________________ The precept: “Judge not, that ye be not judged” . . . is an abdication of moral responsibility: it is a moral blank check one gives to others in exchange for a moral blank check one expects for oneself. . .The moral principle to adopt in this issue, is: “Judge, and be prepared to be judged.”
-Ayn Rand
Do you even know the ramification of the stimulus? Deficit wise? How does it effect you and the next generation or do you not care?
Yes, yes, yes and yes.
Now what was it about my post that drew out these questions?
To clarify, I think the stimulus is worthless harmful tinkering by know nothings with the economy simply because:
1. They can
2. Their polling staff tells them that they're expected to
The sad thing is people actually believed increased government spending would save jobs to begin with despite the fact the CBO and most economists thought it would actually be detrimental in the long run. All the government is doing is taking money from the private sector and thinking they can spend it better than it can which is not going to happen.
I would have been favor of stimulus spending if it had been on things such as research on future technologies, subsidies to small businesses, and improving education in some form..investments that pay long term dividends and would enable us to grow the economy so we could more easily pay back the debt. Instead we get money for story tellers and bridges for Microsoft.
Dear jamesrwright3, you are wrong here in so many ways it is hard to count.
__________________ You know who you are.
I know who you are.
Please construct a rational argument and leave the report button alone.
"Let the local communities decide how to pay the cost. They could decide on a local tax, just as an example.
Some will say that poor communities could not afford good schools.
Wake UP people! That's the idea, people would have good reason to build a better community." -a poster here.
Dear jamesrwright3, you are wrong here in so many ways it is hard to count.
Sorry I am right. You are wrong.
__________________ "Over the years, the United States has sent many of its fine young men and women into great peril to fight for freedom beyond our borders. The only amount of land we have ever asked for in return is enough to bury those that did not return." -- Colin Powell
"We must always remember that America is a great nation today not because of what government did for people but because of what people did for themselves and for one another." -- Richard Nixon
The idea that, "most economists thought it would actually be detrimental in the long run" is a statement made in error. You are making seat of the pants statements.
__________________ You know who you are.
I know who you are.
Please construct a rational argument and leave the report button alone.
"Let the local communities decide how to pay the cost. They could decide on a local tax, just as an example.
Some will say that poor communities could not afford good schools.
Wake UP people! That's the idea, people would have good reason to build a better community." -a poster here.
Last edited by JoyJuice; 8th November 2009 at 03:01 AM.
The idea that, "most economists thought it would actually be detrimental in the long run" is a statement made in error. You are making seat of the pants statements.
"he Congressional Budget Office reports that the enormous debt that would be required to implement either the House or the Senate "stimulus" would slightly reduce economic output in the long run."
__________________ "Over the years, the United States has sent many of its fine young men and women into great peril to fight for freedom beyond our borders. The only amount of land we have ever asked for in return is enough to bury those that did not return." -- Colin Powell
"We must always remember that America is a great nation today not because of what government did for people but because of what people did for themselves and for one another." -- Richard Nixon
"he Congressional Budget Office reports that the enormous debt that would be required to implement either the House or the Senate "stimulus" would slightly reduce economic output in the long run."
You are quoting a blog, and not the CBO.
Click your links deeper, what the CBO is referenceing is a proposed admendment to H.R. 1, just like it says,
"In a letter sent today to Senators Grassley and Gregg, CBO analyzed the macroeconomic effects of an initial Senate version of the stimulus legislation (the Inouye-Baucus amendment in the nature of a substitute to H.R. 1, which is the House stimulus bill).
__________________ You know who you are.
I know who you are.
Please construct a rational argument and leave the report button alone.
"Let the local communities decide how to pay the cost. They could decide on a local tax, just as an example.
Some will say that poor communities could not afford good schools.
Wake UP people! That's the idea, people would have good reason to build a better community." -a poster here.
Linear Mode
