President Obama to Sign Stimulus Bill Tuesday in Denver

Jake – Burris Blago please!!!
Do we really NEED another post on stimulus
….though I must note – Discipline? Hah. He has to find $5 trillion lying around somewhere to keep from doubling the deficit in 4 YEARS!!! – Wonder where he’s going to get it?

Seeing how I’m not bankrupt, time to juju on chance. What’s you’re B’day numbers JPT?

Obama:
narcissistic:
Vain, self-loving, self-admiring, self-absorbed, self-obsessed, conceited, self-centered, self-regarding, egotistic, egotistical, egoistic; informal full of oneself.

I await the disciplined budget proposal with baited breath.
I simply cannot wait to see what President Obama considers “things we don’t need”. I also can’t wait to see if Nancy Pelosi agrees with him.

Obama said nothing about how his stimulus package abolishes Bill Clintons Welfare reform while adding all new spending for Welfare. They could have just used the provisions in the current system if they needed a cash influx 0 they did not have to abolish an excellent program so they can spend more. Shameful of Obama, It’s your Money!

It is typical that the Republicans whose deregulation policies caused this recession would not lift a finger to help this country recover. They are going to block vote against everything Obama tries to accomplish because they want him to fail as Rush Limbaugh so publicly stated.

The math – $700 billion bank bailout, $85 billion bailout insurance giant AIG, $29 billion bailout Bear Stearns & JPMorgan Chase, $25 billion + bailout Fannie Mae & Freddie Mac, plus the $13.4 billion auto industry bailout, for a “very temporary” total of $852.4 + BILLION, which Congress passed so quickly, no one even had time to draft any terms and conditions for the massive give-away. No time to bat an eye or scrutinize. But that was when Congress was doling out money to gigantic, super-wealthy corporate interests that supported their re-election efforts. And now we’re told with certainty an additional $1.5 to $2 TRILLION will inevitably be necessary to save a bunch corporate thugs who have raped, pillaged and plundered the countryside for many, many decades. But when it came to helping the ordinary taxpaying citizens, homeowners & small ‘Ma & Pa’ businesses, the congressional scrutiny-resistance was enormous and unrelenting. Congress insisted that $829 Billion in Stimulus aid would have to be slashed to $789 Billion, because $829 Billion was SUDDENLY too horrific to tolerate. Hence healthcare–education assistance deemed expendable. Ordinary citizen tax relief cut from $500 to $400. But Corp dole-out — UNLIMITED. Lincoln said “Of the People, by the People, for the People.” That’s not what we have. We have “Of the corp, by the corp, for the corp,” on the premise that what’s good for corp is good for everyone because the crumbs they leave behind will be more numerous.

Tuesday isn’t too surprising as it’s the earliest he can sign it without taking flak for breaking his “post 5 days before signing” pledge.

WHINE! WHINE! WHINE!
OBAMA IS SUCH A BAD BAD MAN!!!
WHY CAN’T WE HAVE OUR GEORGE W. BUSH BACK?
HE MAKES US HAPPY CAUSE HE’S STUPID LIKE US!!!
WHINE! WHINE! WHINE!

Tuesday isn’t too surprising as it’s the earliest he can sign it without taking flak for breaking his “post 5 days before signing” pledge.
=====
How does that work?
It was posted near midnight on Thursday/Friday.

Denver, huh? Pope Porkulus returns to the scene of the crime, where the Democratic Party … uh … died at the hands of assailants known and unknown.
Who’s He gonna put back to pretend work in Denver? Will there be faith healings, refreshments?

“Or is he already campaigning for re-election using taxpayers money?”
What HE said!
What’s this “credit flowing” crap? Why bazillion-dollar bailouts for the corporations, and “credit” — flowing like a mighty stream, as He’s barely missed saying — for the “responsible” among the publicly-employed and otherwise lower-well-to-do, and food stamps and platitudes for the displaced masses?

“In the coming weeks, Treasury Secretary Tim Geithner will put more meat on the bones of his outline on how to stabilize the financial system.”
Hahaha. Suuure he will. Geithner has a great big title, a checkered fiscal past, a family debt to collect from Obama, shifty eyes, and a creepy little voice that says nothing.

Michael: “Sorry folks.. It’s time to go on strike to fight this socialist non-sense.”
That’s hilarious. Taking to the streets in a general strike to protest… Socialism. Next up an armed revolution to overthrow the workers! Down with majority rule!

“the audiences stacked with his supporters”
Yes: the visitations of Porkulus upon the people is a travelling snake-oil wagon — part campaign commercial-to-come (can’t we all imagine footage of the altar call with the homeless black woman, long after everybody’s forgotten that what He said was “but there are so many of you”?), part politi-tainment to pre-empt television “news” coverage.
Sooner or later … and Denver could be it … soft vegetables, and perhaps shoes, will start sailing His way. When the first rotten tomato flies, look for “live” coverage of the magic show to cease.

It is time to take back Congress from the Socialists in 2010. Everybody needs to volunteer and work hard to get rid of the insanity in Congress. I for one will not tolerate the damage that the Democrat Congress is doing to America. Electing Obama was the biggest mistake ever made by the American voters. He is a Socialist with a Socialist agenda.

Obama has a cabinet full of tax cheats, a foreign policy doomed to failure, an economic policy that Karl Marx would be proud of, and he lies about being bipartisan. He is one huge mistake and must be stopped by taking control of Congress in 20 months. Let’s get rid of Harry Reid, and about 50 Democrat representatives. This will effectively block Obama from doing any more damage to the country.

Brian: I live in eastern PA, and Specter is my Senator. I have already made contacts with some Republicans that I work with to join in any effort to unseat him in 2010. He voted for a bill he hadn’t read because “I gave my word”. My word for you, Senator Specter, is not suitable for publication.

Why didn’t republicans block Bush when he was running up this horrible debt?

From history, I found this quote from FDR’s Treasury Secretary Henry Morgenthau Jr.:
“We have tried spending money. We are spending more than we have ever spent before and it does not work. And I have just one interest, and if I am wrong somebody else can have my job. I want to see this country prosperous. I want to see people get a job. I want to see people get enough to eat. We have never made good on our promises. I say after eight years of this Administration we have just as much unemployment as when we started. And an enormous debt to boot.”

Take that you repubs, GW who spent 700b to bail out the banks, plus the trillions spent on Iraq and an unjustified war and now you guys are moaning about this amount for our own country? No wonder you identify yourselves as the “taliban” for truly what you seek is the destruction of our own country and infrastructure and hope to lay the blame on the democrats. All of you should be ashamed of yourselves for these traitorous acts, but we, the citizens cannot be fooled this time. We are only trying to clean up after all you republicans, Bush and Cheney of the last eight years.

Thinking: Obama’s “connection to the people” is as phoney as the money the Treasury will soon be printing to cover this massive debt. A true connection to the people would not involve townhall meetings stuffed with Obama supporters and not a dissenter to be heard. A true connection to the people would be the transparency he has promised, not the quiet little moves he makes when the TV cameras aren’t invited. Do you know he signed a Presidential Executive Order on Friday 2/6 that prohibits non-union businesses from bidding on government-sponsored jobs like the ones for infrastructure in the “stimulus” bill? What about the 80% of the construction workforce in this country who are not union? Oh, Obama just forgot about his “connection” to them as part of his role as president to all of us? I severed his “connection” to me long ago when I saw the lies he told in the primaries. Many Americans are now doing the same.

jhw539: There are economists on both sides of the issue, so I just have to rely on common sense and a heck of a lot of life behind me to see that this bill is a payoff to special interests and those who supported Obama in the recent election. Today we have the lower income folks and the unions, tomorrow they will start working on amnesty for illegal aliens and an open border policy that will burden the American taxpayers like never before. Why do you think California is in such bad shape financially? What percentage of taxpayers are supporting the influx of illegals, the lax attitude of law enforcement, and the “sanctuary city” mentality there? Wake up.

Do you know he signed a Presidential Executive Order on Friday 2/6 that prohibits non-union businesses from bidding on government-sponsored jobs like the ones for infrastructure in the “stimulus” bill?
****************************************
The operitive word here is ENCOURAGES not PROHIBTS
WASHINGTON—President Barack Obama has issued an executive order backing the use of union labor for large-scale federal construction projects.
The order encourages federal agencies to have construction contractors enter project labor agreements. Those agreements require contractors to negotiate with union officials, recognize union wages and benefits and abide by collective bargaining agreements.
Obama’s order restores a Clinton administration rule that was rescinded by President George W. Bush.

Thinking: “Encourages”, meaning what? Meaning you had better hire union workers or else you will get reported and no more government work for you? Come on, I live in an area of PA that was once a thriving manufacturing area until the unions got too strong and forced production down south or overseas. Look at Detroit and compare them to the non-union auto makers in the south, where people are still making a decent wage and the cost of the cars is killing Detroit. Sorry, I have seen unions destroy work ethic and accountability in the work place, and “encouraging” using union workers in any government work, paid for by ALL the taxpayers, is just wrong.

I have no problem with Obama going to the people.
I just want it to be clear that popularity does not equal good policy.
The cheering crowds and sad stories don’t make poorly developed economic (or other) policies work.

What’s up with all the negative comments? I see the usual sludge of dull normal White racial and class resentment; is that all that there is, or is there a new vein of Republican Poor Losership being opened up here?

Thinking: Come on, since only roughly 16% of the construction workforce in this country is union, why is the government involved in even “encouraging” using the unions in government construction? It’s payback for votes, plain and simple.

Thank goodness Obama is coming to the rescue! I work as a fry cook at Burger King & I have an adjustable rate mortgage on my $300K house that I bought with 1% down. But my rates increased & now I can’t afford to put gas in my leased SUV!
But now I am done stressing. I quit my job & am just gonna have faith that since I handed out Obama flyers during the election that he’ll cut me a major break.

CW; Right about the costs of union wages making projects go up 20%. And what if we saved that 20% and could hire even more workers at non-union wages? Wouldn’t that get more people to work, which is supposed to be what this bill is all about in the first place?

Thinking: Come on, since only roughly 16% of the construction workforce in this country is union, why is the government involved in even “encouraging” using the unions in government construction? It’s payback for votes, plain and simple.
****************************************
I guess it is a matter of perspective. What is yours as an owner? See my previous post to see a few of mine.
And could ask you why the Government under Bush, and why the GOP today is trying to squash those unions?

PRINCETON, NJ — The American public gives President Barack Obama a strong 67% approval rating for the way in which he is handling the government’s efforts to pass an economic stimulus bill,
Anymore questions
—————————————-
Samples of a group of people doesnt mean the ENTIRE country loves it… Geeze get a clue.

Samples of a group of people doesnt mean the ENTIRE country loves it… Geeze get a clue.
****************************************
No your correct only 67% of them do. The Butler did it?

Obama will be in trouble when we are broke later this year… The US debt will now be 65 trillion total including obligations to social security, medicare, medicade, and government retirement plans. They should have jaust made it 5 or 10 trillion, It makes no differance anymore….. America is broke!!

Democrat mantra…… punish winners and reward slackers and losers…..
Lets put Obama’s face on the penny then discontinue it………Change we don’t need…..ba da bing

Why do you think the Democrats oppose vouchers?
****************************************
Why because we are a public educated country and should be. Vouchers while are a nice idea, leave the core inner city schools without adequate funds. If you think a private school is going to open up in those areas you are tragicaly wrong, and that leaves those kids there without transportation stuck with what is left of a underfunded school system.
Obam Supports Vouchers and I am strongly opposed.

I didn’t vote for Bush, either time, and I saw in Obama the same things I saw in Bush.
————————————
You need new glasses.

Thinking, Sorry, Patti is right. They only poll a handful of people about these approval ratings. Were you called? I wasn’t, no one I know was. Come to think of it, I don’t know anyone who has ever been polled and I’m 53 yrs old and have lived in 3 different areas of the country. So maybe 1000 people were asked and 67% liked this package. Does that mean 67% of the american people like it/

Ed. A,
/——-
“On Thursday Sept 15, 2008 at roughly 11 AM The Federal Reserve noticed a tremendous draw down of money market accounts in the USA to the tune of $550 Billion dollars in a matter of an hour or two. Money was being removed electronically.
[...]
within 24 hours the world economy would have collapsed.”
HELLOOOOOOOO!!! Anybody?? Jakester?
——-/
You will have to figure it out for yourself it seems. Google these headlines to start:
– Exclusive: H1B Visa Holder Attempted Fannie Mae Sabotage – Where’s the Outrage?Michael Cutler
– World Bank bans Satyam Computers for hacking
– Exclusive: World Bank’s Web of Ties to ‘India’s Enron’
– Wipro: Indian outsourcer on World Bank blacklist

BABS -
You must realize that a great portion of the bloggers on here are academia oriented and DON’T HAVE A CLUE WHAT YOU ARE TALKING ABOUT. I too have a masters, but I am grateful for my father who was a partner in an accounting firm and who gave me a good sense of reality involving economics, government and how economic value is created. These idiots in power now will set this county back a LONG WAY. We have always been a resilient people, but I’m not sure that we still have the stuff to overcome this disaster.

Thinking: No one I know minds paying for the single mom who needs help with raising her children, the disabled person who can’t work, the less fortunate in any way. No one. But that’s not what the Democrats are really about anymore. They are about power, and greed, and a government that lies to your face and expects you to take it day after day after day. (Obama “no lobbyists in my White House”, tally so far is 17.)They are about lobbyists running the show, dividing the country along racial and class lines, and reaping the rewards because people are so busy hating each other and refusing to go beyond sound bytes and rhetoric they can’t see that the fox has not only stolen the hens, he’s on his way to taking the hen house, too.

The economy was on the upswing despite 9-11 and a madman in the Middle East playing games with 150 metric tons of yellow cake uranium who had to be taken out.
The Liberal media hyped Iraq as a disaster and then was handed a gift in the form of Mark Foley…and then the Democrats took over, and it’s been downhill since.
As for solutions, McCain said it: Have the Fed buy up the bad mortgages and unfreeze credit…thanks to Barney Frank and company they created the mess on behalf of the government, so let the government deal with it, and if it costs taxpayer’s money, then so be it. The alternative, as we have seen, is far worse.
People weren’t listening to McCain…noooooo, they were dreaming of free gas and kitchens.
The only problem is, people still vote for these losers anyway and they’ve been taught and believe the government can fix any problem, including buying the country’s way out of an economic mess.
Regulation? Sure. Start with regulating the FHA and the House Financial Services Committee, the Senate Banking Committee, dissolve Fannie and Freddie, and censure Frank, Dodd and the others responsible for this mess.

Would the people be in favor of the stimulus spending bill if they knew they or their children or grandchildren would have 50%+ of their wages garnished via the form of income taxes?
Or, would they be in favor of it if they knew they would have to pay $100 for a loaf of bread via the form of the dollar devaluation and economic inflation? Could they afford it?
Or they expect others to pay for it? The rich? How long will that last? Does even the wealthy have enough money to pay off the national deficit?
National deficit? What is it at now? 10 trillion? 50+ trillion? At what point does this debt become so great that it will start affecting everyone?
The problem starts when everyone runs out of money and they can’t take it from anyone anymore. When will we realize we will have become slaves to those we owe. Or when nobody lends us anymore money or accepts our money? At that point, how will we pay for food or even be able to live, and we can’t turn to our neighbors for help because they are in the same predicament?
Where is the money? Maybe it never existed to begin with? Just numbers. Nothing to back it up.
-”In Debt We Trust”

Manitu: I usually blog elsewhere, but think sometimes that if I can get just one of these rabid Obama defenders to think for himself, or actually go a little beyond MSNBC and CNN, I can plant a seed of doubt that might make a difference. A fool’s errand, eh?

RR GOP:”The economy was on the upswing despite 9-11 and a madman in the Middle East playing games with 150 metric tons of yellow cake uranium who had to be taken out.”
Wow, who was playing with 150 metric tons of yellow cake uranium in the middle east? It sure as heck wasn’t Saddam, we know that (as confirmed by Bush’s administration). His yellowcake was sealed up and under watch, which is what made the fake story about him trying to get uranium from Niger believable.
(Although no one with any technical knowledge is worried about yellow cake in the hands of a country with no centrifuges.)

Thinking, thanks for answering.

Rodney:”Regarding education, attach the money to the child…Let the parents and children decide where they want to go to school”
I take it you don’t have any friends who grew up with abusive parents. A redeeming feature of a public school system is it can save kids from idiot parents who would choose whichever school offered beer on parent-teacher night and didn’t report bruises or broken arms splinted at home.

Let’s see:
Obama said he wouldn’t hire any lobbyists for his administration. So far he’s hired 17.
Said he wouldn’t sign any legislation without first putting it on the White House web site; he’s signed two bills without doing that.
Said he wanted a transparent government but doesn’t seem to mind that House Republicans were locked out of the committee hearings.
How is it transparent to write into the spending bill healthcare changes that will effect every American. Those are the words in the bill — the legislation will effect all of us with regard to our healthcare. It’s stealth, nationalized, rationed healthcare. Why is it done so secretively? If it’s a good deal for Americans, you’d think Obama would be bragging about it.
Too bad we don’t have a reporter with the guts to ask legislators if they have exempted themselves from the healthcare provisions. I’ll bet they have. Just like they don’t pay into the Social Security system.

jhw539, remember yesterday when you belittled me for saying congress didn’t read the bill before they voted on it? Well, guess I was right.

jhw539: Did you find all those lobbyists yet?

notafan:”remember yesterday when you belittled me for saying congress didn’t read the bill before they voted on it? Well, guess I was right.”
On what basis do you think you’re right? Republican congress critters showboating and claiming they didn’t read it? Or an absurd definition of reading it meaning “reading every single page even though no changes were made to 950 of them since the House and Senate bills?”

May the stimulus begin to bring America back around to its former status. The right wing would have it fail, but, as for me, I feel good about it and only wish that some of the programs that would have benefitted everybody had not been excised or cut back. Too much is devoted to tax cuts which are short-term relief at best. America needs to rebuild its infrastructure and, above all, we need to get energy independent. Huge energy costs in the spring and summer fueled the recession as well as out-of-control lending made easy by the Republican belief that controls on the financial sector are not good for business. Even now, they still harp on about deregulation. They never learn.

hhp258:”jhw539: Did you find all those lobbyists yet?”
(I was at least expecting them to come back with a list of a few people who worked as lobbyists over 2 years ago, or were appointed to positions different from their lobbying field – Obama allowed himself that wiggle room and I assume he’s used it at least a few times.)

jhw539 will defend Obama with his dying breath. I just have one question, why? What has he done that is worth so much devotion? Seems to me he has only written 2 books ( about himself leaving out several years), gave speeches someone else wrote, gave a pre approved press conference, gone back on several campagine promises (in his first 3 weeks), threw a couple of hissy fits, did some photo opps, pimped a massive spending bill and last but not least, traveled all over the country pimping said spending bill on the taxpayers $. So once again I ask you, jhw539, why the blind devotion?

On the 17 lobbyists thing, I’ve got up to 12+2
“12 of the 112 White House staffers that Obama had named had been registered as lobbyists at some point since 2005.”
So he has been using the 2 years and different field exceptions to his pledge/executive order.
The 17 number still seems to be a fiction, or at best is working really hard to ignore what he really pledged (Obama is a lawyer from Harvard, when he puts in weasel words he does mean them).

jhw539: No wonder you support Obama, you just refuse to accept facts.
Willian Lynn, Defense , lobbied for Raytheon.
William Corr, Health and Human services, anti-tobacco lobbyist.
Mark Patterson, chief of staff to Secretary of the Treasury Geithner was a lobbyist for Goldman Sachs.
I do not lie. But I think perhaps you do, as there is no way you could google “Obama lobbyists White House” and not come up with this information. So I will refrain from replying to any more of your posts, as you do not seem serious about honest dialogue and disagreement.

not a fan:”So once again I ask you, jhw539, why the blind devotion? ”
It’s not blind devotion, but I am always annoyed when people attack him with petty lies. ‘he’s a liar – 17 lobbyists!!’ It’s obviously not true and it has nothing to do with his real performance. ‘No one read the bill!’ It’s obviously not true and it has nothing to do with the bill’s effect. ‘He hasn’t done anything!’ It’s obviously not true (I particularly like the videotaping of interrogations and confessions law he wrote and worked onto the books).
It’s just pathetic when debate consists of making up obvious lies, that even if true are pretty irrelevant. Of course he has lobbyists in his administration (far fewer than the past several, but they are there). Of course he’s breaking promises made over the campaign (every politician does). But this is not policy and is irrelevant.

I’ve got an idea! Instead of putting in a politician, why doesn’t America put in an economist for President? And a bunch of economists for congress and senate, ones who are financially responsible? Is Greenspan considered to run in 2012? Any other good ones out there? And instead of Republican or Democrat, why not an Independent? Constitutionalist? Libertarian? Someone with no party affiliation?

jhw539, I apoligize. So the man wrote one law that qualifies him to be president? The previous presidents didn’t campagine on no lobbyist in their cabinets, he has gone back on MANY promises in only three weeks and what may seem irrelevant to you may be relevant to many others. I’m sorry, the man just hasn’t done anything worthy of the praise and worship that you people bestow on him. How about that news conference? Think that was right? Why is it he never lets people ask him the hard stuff? Pre approved questions? Come on! Rooms full of supporters for these town meetings? I’m sure they could have found 1 or 2 people out of 1,700 that wanted to question, really question him but no, just sob stories, pleas and love? I’m scared for this country and for people like you who can’t seem to see the forest for the trees. Don’t get me wrong, I don’t think Obama is bad, just not the right on to run our country.

jhw539: Obama ran on a platform of “change” in Washington, so it is darn relevant to most of us that he is constantly breaking the campaign promises he made. Maybe it’s irrelevant to you, and other Obama supporters like you who will defend him to the bitter end, but not to people who read and do their homework and turned off MSNBC a long time ago.

Babs. I suppose you are at least extremely happy McCain lost the election, aren’t you?
McCain had more than 170 lobbyist on his campaign alone. Let alone what his Administration would have looked like. A White House run by lobbyists, just like the 8 years before.
Lobbyists are a pest. But it would be extremely naive to think that after decades of lobbyists involved in every aspect between industry and government, you would be able to find capable people with knowledge about the industry and no ties with one of the major players in that industry.
These former lobbyists have signed a pledge which requires them to recuse themselves from issues “directly and substantially related to their former employers”.
But it’s at least nice to see that the other side is now acting more Catholic than the Pope.

Rodney, at the end of WWII, the National Debt was 120% of the GDP. Today it is 70%
The 50s and the 60s have been a very prosperous era.

To Willem van Oranje, you are talking about trillions of dollars now. Back then it was thousands, something foreign governments could afford. What foreign government has trillions of dollars to give America now? The stakes are higher and there is a worldwide financial crisis. China just made the announcement that they will no longer buy American debt, which means the US government is printing money without anything or anyone backing it up.

Hey Rodney,
Do you remember the first Chrysler bailout? — we spent money — we got paid back more than we spent. When we invest strategically, we plant many seeds that produce many, many trees. When we invest like Bush did, $10 trillion to the likes of friends Halliburton and Blackwater, well that’s not so strategic. I would agree with your argument about spending if it’s thoughtless spending, such as the past eight years.

To WestCoastMessenger, Americans should have voted in an economist, not a politican. Forget Republicans and Democrats, why can’t Americans put in an Independent? Greenspan? Democrats and Republicans alike play politics too often and fight for the spoils for political gain and power at the expense of the Americans.
There are members of congress and senate on both sides of the aisle who are fiscally reckless and have this ideology that we must spend our way out of this mess, spend money that we don’t have. Do you put your mortgage on credit card?
There is an ideology out there that if you want something, you’ve got to have it now, even if you must charge it to plastic and pay it later. Are you willing to live it up now at the expense of your future, your children’s future, or grandchildren’s future? Are you willing to accept a stimulus now if you know you’ll have 25% more of your wages garnished in a few years from now in the form of income taxes? How about 50%? 80%?
What happens when you spend so much and it devalues the dollar? Inflation. What happens when nobody buys our debt anymore? What happens when foreign governments no longer accepts the US dollar anymore? Can’t trade?

Rodney, you have the mindset of an accountant, not an economist.
In your logic it would be unwise to invest and go into debt because it would eat into your profit later since you have to pay back the debt.
That’s insane and only a bad accountant would give such advice

President Obama will sign the bill on TUESDAY? Congress could have read the bill by Tuesday and then placed an informed vote. Even those of us that get to pay for it could have read it by Tuesday. What was the rush? I’m feeling swindled, over promised and under delivered.
During the debates prior to the election, President Obama said he would go through each bill “line by line”. I don’t think this one will measure up to his debate criteria. Suppose we’ll see a veto?

Willem van Oranje you seem to forget the current crisis was caused by goverment meddling in the first place, by loosening loan requirements, selling off the bad paper, creating the housing bubble. I watched my dad lose his business and home in the 80′s when interest went to 21%, he died not long after, his last years a struggle to survive, basically penniless. Business owners don’t get umemployment and he would NEVER accept welfare. I see a repeat of the same thing happening to my business now with the current economy. There’s nothing in the stimulus that is going to stop that. But the stimulus is going to artificially affect the markets, most are predicting inflation will follow in a year, maybe two. Debt is never a good thing; it sometimes is a neccessary evil, but in this case it was mostly just evil.
Goverments should work to create a stable environment for business and it’s citizens, not throw caution to the wind, not mindlessly pass a bill without a thorough study, not ignore warnings of impending problems with Freddie and Fannie, not staff the SEC and Financial sectors with incompetents and no oversight or implementation of existing regulations. Those things are a matter of life and death to a lot of us, literally! They could do their job so much better but they don’t even try.

Kary: “the current crisis was caused by goverment meddling in the first place, by loosening loan requirements, selling off the bad paper, creating the housing bubble.”
No, it was government NOT meddling in the first place. The loosening of loan requirements (which happened in institutions with the *least* federal oversight), securitizing the risks and selling the derivatives as bricks of gold all over the world caused the crisis. Coupled with incentives for people who made the most risky loans.
The loosening of the loan requirements was the doing of non-regulated credit instutions. I know you want to blame the CRA but it’s false. Only politicians and pundits hold that view, nobody in the financial industry itself does that.
As a business owner, you probably know that your business only thrives when people and businesses spend their money, are willing to take on risk, and buy your goods and services. Since this is a *severe* recession with the danger of going into a depression, you probably know too that people and businesses are not willing to take on risk, they only do what absolutely necessary and “hoard” any savings they have left. Even if you give them tax cuts, they will only pay down debt and hoard the rest. This happened with Bush’s tax rebates of last year, only 20% was spent, the rest was hoarded in the event things will get worse. For people and families and business, this might be a wise strategy, but it is a disaster for the economy. This behaviour guarantees that the recession will only get worse. Money needs to roll and change hands as often as possible.
Since people and business hoard the money, the only one who can get it rolling again is government. People and businesses don’t do it, so there really is nobody left. And one of the best way to spent it is to target it to people who need it the most and will spent it immediately: food stamps and unemployment benefits are prime examples. Next thing is to speed up buying goods and services you will need anyway: infrastructure. But instead of spending it over an entire decade or so, you’ll speed it up considerably. The country does not only get something valuable in return, it also guarantees that the people who provide these goods and services stay in business, require goods and services from their suppliers, who also stay in business, pay people income, guarantees it for a couple of years, who in turn feel more secure to trade in their SUV and buy a more energy efficient car or weatherize their home.
This is such basic economics, I’m amazed this has to be lectured here.

I was sure that this signing was destined for the steps of the Lincoln Memorial and that the quill that Lincoln used for one of his speeches would be used for signing purposes.
Sick of bad government. Sick of Pelosi. Sick to death of 0bama. And what? It’s not even a month. Over hyped. Over exposed. Out of his depth. God Save America.

Kary-
there is a video popping up of Obama promising a 5 day wait period before signing bill, you can check it out on Hotair.com.
Obama signed SCHIP 2 days after it was brought to him (again breaking his 5 day wait pledge).
what people don’tknow about SCHIP is that it also extends free healthcare to illegal immigrant children, not just our american children.

why is Obama waiting an extra day to sign the greatest generational theft bill?
i am so disgusted by this bill. he will make a big speech about how hemade this work, when in fact he did nothing (2 vacation and 1 fleeing the whitehouse because he was burned out).

I don’t see how Obama considers this a win.
He failed at letting Repubs have a part in writing the bill–gave a blank check to Pelosi and Reid.
Broke his promise of transparency and allowing the public to view legislation before he signs it.
Didn’t go over the bill line by line to eliminate waste
Kept a tax cheat in his cabinet proving the Obama administration has a different set of rules than we do.
I would think lying and losing credibility with the public is not a win.

Gosh, Obama spent weeks telling us it was a national emergency and we had to get this spending bill immediately.
So what did he do? Immediately upon Congress passing the legislation on Friday, Obama took off for a 3 day vacation.
If this is how he handles emergencies, we’re in for a long four years.

Amazing how according to Hussein that this bill was so urgently needed to avoid “an economic catastrophy”, yet now thats its passed, he’s off “vacationing” in Chicago and waiting till Tuesday. HOPE AND CHANGE@! HOPE AND CHANGE!
BTW, why is he in need of a vacation after less than 3 weeks on the job? He just came off a long vacation in Hawaii before “Starting his new job”

bdog – are you really so ignorant you don’t know that a lot of those days at Camp David were spent hosting heads of state and meeting with his cabinet? ROFL
The ignorance level of the American voter never fails to astound me.

Peach
You are truly Laughable Defending Bush what a Joke!

I am hoping his next step will be to Roosevelt type of change. Bring back the uptick rule for shortsellers. The down tick rule is very destructive.
Next change MTM Mark to Market Accouting rules. Bring back to Cost Basis Accounting GAAP. This will instantly change how banks write down loses restoring capital to bansk balance sheets. This will also make the US Treasury preferred stock go sky high as bank stock explode back up with these rule changes.

I just want to know what the heck an extra $13.00 per pay check is going to do for the average american…..actually what is it going to do for anyone????? What the heck is the point?????

i am frank a citizen of tanzania,africa.in africa most governments have budgets of $3 to 6 billion dollars a year.when you guys talk about the $$790 billionthink of africa.think of the fact that this is the budget of tanzania for the next 160 years.but you american spend this money to stimulate your economy!!.
all people are created equal.i don’t bilieve that?

Has anyone even bothered to ask President Barack Hussein Obama if he read the bill before he signed it?
Is anyone missing the “big spending” and “corruput” Republicans yet? Guess the Dems didn’t get the point that we voted out “big spending and corrupt Repubs” and now are faced with quite literally 4 times worse!
Well, we vote again in fewer than 2 years, then again in fewer than 4. Just hold on ’till then.
Compared to big, this is monstrous.