Second Stimulus Inevitable?
EmailNo one bit when I raised the prospect that a second stimulus might be necessary at the top of "This Week" yesterday. But this morning’s news offers more evidence that it might be necessary, with the World Bank predicting that 2009 will bring the first global recession since World War II , Warren Buffett observing that the economy has "fallen off a cliff", and New York Times columnist Paul Krugman opining that the administration will soon "realize that more must be done." Harvard economics professor Martin Feldstein has argued a second fiscal stimulus package is likely. "It will need to be much better targeted at increasing demand in order to avoid adding more to the national debt than the rise in domestic spending," Feldstein wrote last week in the Taipei Times. Administration officials tell me that it’s just too early to push for another stimulus, pointing out that only about $3-billion of the first one has gone out the door so far. (The pace is expected to pick up in the next couple of weeks). But pay attention to what Larry Summers told the Financial Times. If Summers believes that world leaders have to pump more money into the economy, won’t the U.S. have to lead the way? Officials are analyzing the question of what kind of stimulus might be necessary and what form it would take. Crunch time for a decision could be as early as the first week in April when President Obama attends the G-20 global summit in London. More to come… — George Stephanopoulos UPDATE: Obama economics adviser Christine Romer, chair of the Council of Economic Advisers, hinted today that more stimulus money may be needed.
"Beware of cutting back on stimulus too soon," Romer said Monday at the Brookings Institution in Washington, DC. "We will need to monitor the economy closely to be sure that the private sector is back in the saddle before government takes away its crucial lifeline." Asked directly by ABC’s Matt Jaffe about a second stimulus, Romer said, "[We] feel we need to let this one work," she said, "I feel very strongly we need to let the medicine work to see if it does the trick." No doors closed. Will news between now and G-20 raise or lower pressure? UPDATE: White House Press Secretary Robert Gibbs Monday when asked if the administration is planning a second stimulus: "The focus right now in this White House is to ensure that the money that taxpayers — that taxpayer money has gotten out quickly, that jobs are created," he said. "You’ve seen the president make many announcements. And you’ll see more, in order to ensure that money is spent wisely and quickly, to get the economy moving again."
Santorum: Money Will Not Defeat Obama, Ideas Will 
Rick Santorum's Full Speech at CPAC 2012
There will definitely be another stimulus. They should be planning on one right now and spend the time this time in the form it should take.
I such that it should be infrastructure spending. That is popular with BOTH Republicans and Democrats and could pass the Senate.
Posted by: Sara | March 9, 2009, 11:24 am 11:24 am
yep the second one will be for the White House after these criminals get kicked out
Posted by: Obama-cabinet of corruption | March 9, 2009, 11:24 am 11:24 am
The first so called stimulus package was nothing more than Democratic party pork. Why should we let Obama, Pelosi, and Reed do this to us again? Obama had one chance to send the right package and he blew it. Additional deficit spending will not help and will in all likelihood make thigs worse, as it did in Japan over that last 15 years. We need to reduce the size of government and end deficits before the business community will recover their confidence in our economic system. Unfortunately, that won’t happen until 2013.
Posted by: James | March 9, 2009, 11:25 am 11:25 am
Hey George any calls from Rahm this morning? LMAO
Posted by: Obama-cabinet of corruption | March 9, 2009, 11:25 am 11:25 am
Obama-cabinet of corruption, good point. George, where is your disclosure that you have private contacts with the Obama administration?
Posted by: Larry | March 9, 2009, 11:28 am 11:28 am
Most of the brightest economic minds on the planet (from all sides of “the isle”) by and large agree(d) that the supply/demand equation is disconnected. We have ample supply with liquidity restraining the demand capability to purchase.
To get the biggest part of this interruption of the basic economy 101 behind us we need liquidity and capitol changing hands NOW. The Government is the only entity able to provide the necessary liquidity NOW.
The first stimulus “recovery package” was developed starting last fall when we were in a different place. As with all things monetary, especially right now, it exists in a very dynamic environment, changing and evolving constantly (unfortunately right now at light speed), we MUST get in front of the self effacing downward spiral of this economic, cash disappearing act.
The Administration has the right idea with respect to the stress testing in the banking sector. We must apply the same principals to the broader economy with enough latitude in the matrix of metric measuring to be flexible as well as accurate enough to provide the analysis required.
Only in this way will we be able to “get in front” of this train wreck.
So………yes another stimulus package IS necessarily, we MUST make sure it is large enough to complete the desired tasks. The political will for a third stimulus will probably be non existent. Get it right this time boys, and don’t let the nay sayers push you off of what needs to be completed.
Posted by: Darryl the Contractor | March 9, 2009, 11:43 am 11:43 am
Wasn’t $787 billion in “stimulus”/payola enough for you and your left wing collegues? Or is the $787 billion just going to be a monthly/bi-monthly “stimulus”/payola amount to attempt to “pay off” Democratic Party special interest groups? Here’s a suggetion to you and your friends, George: Use YOUR OWN MONEY to pay off your buddies and leave hard earned tax dollars out of it….
Posted by: MNResident | March 9, 2009, 11:50 am 11:50 am
Anyone can see that they aren’t working. How does one get to be President if you’re not smart enough to read before you sign?
Posted by: Aircav | March 9, 2009, 11:57 am 11:57 am
Well George, this is what I see. I remember someone saying to me not too long ago, that America is NOT in any kind of depression what so ever. This was based on the fact that, 92% of our nation is still working and 92% of our Americans still own their home. The only reason we hear about the failing of homes, stock markets, investments, banks, is because the news media sends out that message. If you took a large city and calculated to find the percent of foreclosures, I would tend to think its well below 1% vs. a home that has not foreclosed. On the other hand, if I had to find a way to fix this Great country, I would send out a 2nd stimulus package and give every American that filed their taxes last year (no matter what their gross income was) and give each of them $10,000.00 period. If much of America is becoming less than the average middle class then give them some money. The middle class and under are truly the “Heart of Americans” and they would put the money back into our economy by paying their bills, getting out of foreclosures, or maybe go on a shopping frenzy to boost the money flow or better yet put into a savings account where banks can use it for their investments. “WE THE PEOPLE” are the ones that need money.
Thank you,
Sylvia Cuthbert
Posted by: Sylvia Cuthbert | March 9, 2009, 11:59 am 11:59 am
Any stimulus progam that comes out now should be really a stimulus, and not a handout for the banks and corporations. If you really want to stimulate the economy, keep it simple like reducing all mortgages to 4% for everyone, not just for some, but for all, and a 1 month moritorium on mortgage payments at no cost to homeowners, 3 months if the lender backends it on the mortgage. You don’t need to create another bloated agency to work and beg lenders to work with homeowners like this last housing bill does. Just mandate it, keep it simple. And all other stimulus money should be for infrastructer jobs. No money to study how birds fly or how the yellow spotted birdwhale mates..lol.
Posted by: jake | March 9, 2009, 12:03 pm 12:03 pm
Another stimulus was always inevitable. But the second timer around will be more targeted – and the White House will make sure to retain more control over the process. Tax cuts for small business may be in the cards.
http://www.political-buzz.com/
Posted by: matt | March 9, 2009, 12:05 pm 12:05 pm
We continue on the path to ruin. It started with the banks, where the people who are still is charge are not being held responsible. Then it goes to the next level, where we take money we don’t have and give it to people who don’t have any money to pay for things they could not afford. It’s not there fault either. The longer government tries to ease the pain, the longer this will go on.
Posted by: D Mumma | March 9, 2009, 12:10 pm 12:10 pm
PM Brown gave two symbolic gifts and one that expressed national pride. Brown came bearing a pen holder carved from the timbers of the sister ship of that which gave the wood to create the famous “Resolute Desk,” the desk that has been in America’s charge since 1880. He also gave Obama the framed commission for that famous ship, the HMS Resolute. His third gift was a seven-volume biography of one of England’s greatest leaders, Winston Churchill
GUESS WHAT OUR OBUMA GAVE HIM
So, what did President Obama give the British PM? 25 movies on DVD. Yeah, that’s it. Brown gives a symbolic gift like the pen holder fashioned from a famous British warship and Obama responds by sending a staffer to WalMart to pick up a few quick movies.
Posted by: david reyes | March 9, 2009, 12:10 pm 12:10 pm
Insanity — Doing the same thing over and over and over again, and expecting different results.
This is something President Obama said about electing a Republican after 8 years of the Bush Administration. And now. . .President keeps on putting legislation through for bailouts, stimulus packages.
None of them worked, none of them will work. I don’t care where he graduated from or how smart he is supposed to be, but he has not found a single solution to any of our problems.
Insanity — Doing the same thing over and over and over again, and expecting different results.
Posted by: Angelo | March 9, 2009, 12:11 pm 12:11 pm
To a limited extent i can agree with Sylvia.
That said, the two main issues with this is that with the specific direction (application of funds in a certain area) we can assure a specified (or close) multiplier effect of every dollar spent.
Second, this senerio assumes that the banks would in turn lend money as they are chartered to do. We have recently give quite a large amount of money (with no strings attached, which was asinine) to the banks and the applied it to their balance sheets or bought up acquired, their competition. Thank you very much, NOT
Posted by: Darryl the Contractor | March 9, 2009, 12:14 pm 12:14 pm
If the 1st stimulus had not been a payback to Dem donors, lobbyists & special interests but given to the American public that pays taxes, are losing jobs & having homes foreclosed, like the $10,000 mentioned, the economy would be improving already.
Posted by: John Lowe | March 9, 2009, 12:30 pm 12:30 pm
The hallmark of insanity is to repeatly attempt the same thing expecting different results.
Posted by: tucanofulano | March 9, 2009, 12:45 pm 12:45 pm
Woo-hoo! Another $600 headed my way. Viva Obama!
Posted by: do-wop | March 9, 2009, 12:50 pm 12:50 pm
I love how the first stimulus was passed less than a month ago and people have already determined that it’s not working.
What part of “the economic recovery will NOT happen overnight” do you people NOT get?
Posted by: MVP | March 9, 2009, 12:51 pm 12:51 pm
You clowns just dont get it! I man short of giving every tax paying American $500,000, any other amout is NOT going to be spent in these current conditions. People are going to save it! 10K, 20K, ..etc When people have no idea how much longer they will actually have a job, they ARE NOT going to spend!
This is why Obama’s “Git-R-ALL-Done!” methods are crippling the nation’s confidence. There is indeed a huge disconnect between how people feel about Obama and how they feel about the economy and where its going. People still like Obama, his approval numbers are still slightly above 60%, but look at some of the other numbers.
State of the Nation – Dissatisfied – 77%
Consumer Mood – Negative – 76%
Standard of Living – Getting Worse – 43%
Economic Conditions – Poor – 64%
Economic Outlook – Getting worse – 75%
This is why people are not and will not spend! Until these numbers turn around, there will be no recovery!
Posted by: Mike_C | March 9, 2009, 12:52 pm 12:52 pm
“The hallmark of insanity is to repeatly attempt the same thing expecting different results.” Yet, we hear no Republican alternatives–other than to try the same things that brought on the Bush Depression.
Posted by: RapidRobert | March 9, 2009, 12:56 pm 12:56 pm
MVP what about GM and Chrysler? GM is failing with the Stimulus / loan they got. And to think’ You where probably one of the ones calling Bush stupid. Look who is not listening now.
Posted by: Jim Rod | March 9, 2009, 1:07 pm 1:07 pm
“The hallmark of insanity is to repeatly attempt the same thing expecting different results.” Yet, we hear no Republican alternatives–other than to try the same things that brought on the Bush Depression.
—————————————
RapidRobert ,
Interesting labeling there. I guess your a liberal who has his typical blinders on to the work of Barney Frank, Chris Dodd, the past sins of Larry Summers, Bill Clinton, & jimmy Carter.
In reality your just another K. Olberman kiss up, this economic mess is OURS, blame is everywhere and on both sides of the aisle. To think otherwise only reveals just how foolish you are.
Posted by: Mike_C | March 9, 2009, 1:09 pm 1:09 pm
Obama is “SO” concerned about American jobs. He runs off last week to “celebrate” 25 jobs “saved” by the stimulator”.
YET…….
He is delaying action on the continuation of the F22 Raptor program which would “save” 95,000 American jobs!!!!
So much for priorites!!!!!!
Posted by: Mike_C | March 9, 2009, 1:13 pm 1:13 pm
Sure, why not! Let’s spend it all. Wait a minute. We don’t have any money. I mean, who care’s, let’s print more.
Posted by: shiggybop | March 9, 2009, 1:16 pm 1:16 pm
Another spending bill for the President to push even more of his agenda and to take care of his special interest groups again…this is criminal! They told us the bill they passed would get the economy back on its feet even though many questioned the real effectiveness of the bill with all the wasteful spending. No more money! GM is going to milk this country for $150 billion this year because the White House won’t let them go through a proper bankruptcy filing because they don’t want to upset the UAW…$150 BILLION! George Bush inherited a pretty lousy economy and even he didn’t destroy the future of America with unprecedented spending.
Posted by: Matt | March 9, 2009, 1:18 pm 1:18 pm
I am not quite sure why people expect there to be a quick and easy fix. There is none to be had, but sitting bickering over earmarks as though you haven’t previously enjoyed them is ridiculous. It will take time, money, hardwork and attitude adjustments to overcome the problems we face. Millions have lived in poverty for decades without a thought from us. Maybe when all is said and done we will understand our connection with the rest of the planet. Then perhaps we will truly be good stewards of the Earth.
Posted by: Rainbowjah | March 9, 2009, 1:22 pm 1:22 pm
Actually probably 70% of people will spend any money they are given. With 12% out of work (they will use it to pay their monthly living expenses), 15% (I’m guessing) living on a fixed income (My mom said send me the money – I’ll spend it), whatever percentage receiving government assistance (they are known to spend everything they receive and then some – and I work daily with people in this situation and it is sad, but true). Then the middle class that haven’t lost their jobs but won’t get a vacation this year will use it for that or to buy a plasma or a car. Leaving about 30% that will put it in the bank.
Sunday a preacher said, until we get over our addiction to bling we won’t be bailed out.
Posted by: Tina Harkey | March 9, 2009, 1:25 pm 1:25 pm
I voted for Obama and disagree with this idea. Obama you are out your mind if you come asking us for another trillion dollars.
Your focus should not include other countries. Let them deal with their economy. Now, give us more tax cuts and reduce capital gains by 8% and you will be relected for sure.
Posted by: nubiangent08 | March 9, 2009, 1:27 pm 1:27 pm
Capital and liquidity by mega banks will infuse into mega corporations…they are interwined globally…they outsource and build new factories outside the U.S. Want to create jobs here…start opening accounts in your community banks, they grow our local economies. Why should the average taxpayer continue their dependence on the biggies? We’ve seen top management get billions of dollars in bonuses while they lay off thousands of Americans and then outsource a portion of those jobs. And we support their practices by bailing them out. Why? b/c if they fail the global economy collapses…we need to be weaned off. We do not have to be entirely global.
Posted by: phallon | March 9, 2009, 1:45 pm 1:45 pm
Why did we miss a Bank?
Posted by: jane | March 9, 2009, 1:48 pm 1:48 pm
Rainbowjah has a good point.
It will take years for the Recovery package to reach fruition and complete its designed intent, IF we have the will to see it through and keep true to its design. People do need to see results compounded now, because the pain and suffering brought on by this “great recession” are with most of us RIGHT NOW.
So we do have competing results orientated immediate needs and a lag in the true value /effects of any recovery package.
This is why it was important to include a large percentage of tax cut in the first package, withe there effective returns are smaller 70% +/- they get infused into circulation almost immediately.
One thing that we MUST do and right now is use the forecasting modeling that will allow us to see and accurately project the cumulatively effect of the first package and assure that the intended/required results are met, and if there is ANY question about their multiplicative factors then we need to backstop them NOW, before the chance to leverage there effects evaporate.
That said, we have many VERY SMART people that questioned the scope of the first package and thought it was is too small.
Listen to these people folks, they are not making this stuff up. AND they come from both sides of the aisle. We cannot afford to get this wrong.
Posted by: Darryl the Contractor | March 9, 2009, 1:50 pm 1:50 pm
This is out of control, and I don’t think that Obama and his staff DO NOT know what they are doing.
Posted by: jane | March 9, 2009, 1:50 pm 1:50 pm
POOF you are now the President– start cutting from this–
http://upload.wikimedia.org/wikipedia/en/d/d4/Fy2009spendingbycategory2.png
Hint (earmarks are 1.27% of the overall budget)
Let’s cut social security, that’s huge. No, wait, you guys want to retire right? Besides, you did pay into it after all.
What about Medicare? That’s really huge. Oh, you don’t want to be stuck with the medical bills for the old folks in your family.
Hey, look at defense, that’s enormous and the war on terror, also pretty big. Oh, you’re afraid of terrorist attacks, North Korea and the Russians. What about all those disabled vets? Ok, leave that alone.
Hey what about welfare/unemployment, most of which is unemployment. We don’t need to help those losers, right? Oh, you want to collect in case you get laid off and you’re also afraid cutting out welfare because the crime rate will spike.
Let’s stop paying the interest on the National Debt.. No, wait…what will happen if China stops loaning us money… that wouldn’t be good.
What about that pesky department of Energy, its only 4.75% of the budget, but we could cut them back. Oh, you’re remembering 3 Mile Island…yeah, better keep an eye on those reactors.. and the DOE
is in charge of guarding us against a nuclear terrorist attack.
Hmmm looks like the rest is pretty small potatoes…..
So what do you want to cut out?
Posted by: DTP | March 9, 2009, 1:51 pm 1:51 pm
I’m having a hard enough time trying to decide how to spend that extra $13 a paycheck. I’m not ready for another stimulas.
Posted by: troublealready | March 9, 2009, 1:55 pm 1:55 pm
This is definitely CHANGE, but not that you can believe in, but FOR THE WORSE
Posted by: jane | March 9, 2009, 1:56 pm 1:56 pm
DTP — “So what do you want to cut out?”— How about the 30 Billion to the teachers union? How about the 4 billion for Community organizers (ACORN)
or 300 million to hollywood producers? Considering the shape of the economy right now, do we really need to spend money to save a field mouse? Do we Mrs Pelosci?.. 300 million for STD research (aimed at school kids)?
And while food stamps and unemployment compensation are important things.. wasn’t this supposed to be a STIMULUS bill? I mean how many new jobs will be created by increasing unemployment comp and food stamps… Wouldn’t those itmes more appropriately be debated in the budget bill? And why exactly did this “stimulus” cut out the welfare reform put in place by Clinton that required job traiining and placement and go back tom the old quota system where the state welfare budgets are increased simply by adding recipients – the more kids you have the bigger welfare check you get.. and job training no longer matters… You tell us .. What would YOU cut in this bill??
Posted by: arkie vet | March 9, 2009, 3:21 pm 3:21 pm
Darryl – “It will take years for the Recovery package to reach fruition and complete its designed intent,”—
Problem with that scenario is simple.. the recession will self correct in a matter of two to three years even if we do nothing. Those projections are from the White House’s own economic office not my opinion. So, if it will correct itself in 2 to 3 years (obviously not without significant pain to the public), then what exactly is a “stimulus” bill that will not have any effect for 2 years good for?? ANSWER— It will allow the current administration to SAY that their spending bill (which is basically all it was) resulted in recovery… Now compare that with the old republican standby, tax cuts… If you pull the unemployment figures from the feds records, you will see that every time taxes have been cut, the economy responded positively in less than one year… and in most cases remained effective for several years to follow…
But this administration is convinced that jobs can be created by spending money we don’t have..its never worked before, so why should it now??
Posted by: arkie vet | March 9, 2009, 3:33 pm 3:33 pm
I can’t seem to figure out how this stimulus package is really going to help people like me. My husband & I own & operate a Real Estate office & have 4 kids. Our small town market is dead. There have been so many layoffs that there are more people looking for jobs then there are jobs available. The credit card companies want to go up on their precentage rate. Banks will only loan money to people with outstanding credit scores. The government says this stimulus package will help me. How? I’m robbing Peter to pay Paul & Peter’s about out of money.
Posted by: Denise | March 9, 2009, 3:48 pm 3:48 pm
We need to get the greedy credit card companies to DECREASE intrest not INCREASE rates. They are just doing it because next year a law will be in place to prevent them. So they are getting it in now. Crooks!!!
The banks are corrupt and continue to be so even after they ruined the US & world financial markets from their greed.
Posted by: cissy55 | March 9, 2009, 3:56 pm 3:56 pm
The stimulus bills won’t end until all of America’s wealth has been redistributed.
Posted by: mmonroeliveson | March 9, 2009, 4:11 pm 4:11 pm
arkie vet; It may take years to see recovery because this administration insists on pumping money into the economy. Our economy was inflated and needs to decrease. Propping up a failing economy is only going to delay the fall. We can’t begin recovery until we have reached bottom.
Posted by: mmonroeliveson | March 9, 2009, 4:15 pm 4:15 pm
A second stimulus, lets give the first a chance. Any new money must be spent in the Banking sector and now, not to learn from the past is to repeat it. After watching This Week and the other morning shows it seems that congress has the potential to act in a bipartisan way, let people disagree and hammer out the details, but lets to so on facts not on fear or outlandish rhetorical language “I want Obama to fail”. Intelligence on both sides is called for!
Posted by: dave | March 9, 2009, 4:18 pm 4:18 pm
Actually, arkie vet, if you study the recent past (last 8 years) you will see that it was precisely tax cuts and De-regulation that brought us to this point.
The Congressional Offie of Budget Management has stated that the multiplying effect (multiplier) of $1 spent in tax cuts returns 70% to the economy. Where $1 spent in infrastructure returns 135%.
Tax cuts ARE an important piece to the solution, but surely not the only solution.
There are literally dozens and dozens of layers in our huge economy that will return these funds differently and at different times. Some will take 2 months and others will take 2 yrs to complete their respective tasks.
Posted by: Darryl the Contractor | March 9, 2009, 4:22 pm 4:22 pm
we did not get to this place overnight and it will take time to fully recover
Posted by: Darryl the Contractor | March 9, 2009, 4:30 pm 4:30 pm
THE RECESSION CYNIC’S 9 STEPS TO SURVIVING A RECESSION:
Step (1) Irregardless of what your church says, it’s every man (or women) to themselves.
Step (2) Cash used to be King…..now it’s God – so save your money.
Step (3) Do not Divorce – It’s Cheaper to Keep Her (or him, even if he’s a tool).
Step (4) Take a good second look at Self-Employment, if your gonna be livin on the edge or ridin the roller coaster, you may as well do it for yourself.
Step (5) If the Government GIVES IT, then as an American taxpayer who paid into the system for years…..you TAKE IT…irregardless of what Rush Limbaugh says, Rush ain’t paying your bills Dittohead.
Step (6) Turn off the News – News Anchors are not like you, they make BIG money and wear nice clothes because of suckers like you getting psyched out from all the bad news they blast into your living room, hanging out like a dense fog inside your head.
Step (7) Recessions are local, think of the tornado that is ripping through a dusty neighborhood in Oklahoma that destroys your house, but leaves your neighbors house untouched……that’s a recession.
Step (8) Don’t believe in the goodness of rich people, there is no such thing, humility is your best friend and there are very few humble rich people.
Step (9) DO THE RIGHT THINGS “RIGHT”…recessions were created by idiots who did the WRONG things RIGHT
Posted by: The Recession Cynic | March 9, 2009, 5:25 pm 5:25 pm
recession clinic….good post
Posted by: catman | March 9, 2009, 5:30 pm 5:30 pm
What brilliant economist thinks that the solution to a problem recognized by everybody as too much debt, is to take on more debt? Insanity rules in the White House.
Posted by: brian | March 9, 2009, 5:32 pm 5:32 pm
What is the real difference between pork spending and stimulus spending? Does it matter who gets the money as long as it is being spent?
Posted by: Pad | March 9, 2009, 5:55 pm 5:55 pm
Yes, another stimulus, I could always use a little more “change”
Posted by: evonaix | March 9, 2009, 5:55 pm 5:55 pm
Here’s information to thr FTC report about the Fair Debt Collection Act.
It’s important because the FTC Report proposes to congress that third party debt collectors should not be allowed to call your cellphones, that they must abide by the law and tell us everything about the bill, not just what they want us to know.
You can read the FTC report here. If you agree with it, tell your senator now. The more public support we show, the more we voice our choice to privacy, the better it will become to pass the law.
Here’s an excerpt:
“According to the workshop report, debt collection laws should be modernized to reflect changes in technology. Recognizing that the law generally should allow debt collectors broad use of communication technology to contact consumers, the report recommends that the law prevent consumers from incurring charges for these contacts or otherwise being subject to unfair, deceptive, or abusive acts and practices. The report recommendations include:
Prohibiting collectors from contacting consumers via their mobile phones, including by text messaging, without prior express consent; and
Requiring collectors who use new payment technologies to obtain express verifiable authorization from consumers before accessing their accounts.”
FTC Report
http://www.ftc.gov/opa/2009/02/fdcpa.shtm
Posted by: Karen | March 9, 2009, 6:13 pm 6:13 pm
“The stimulus bills won’t end until all of America’s wealth has been redistributed.”
Assuming that the wealthy, who pay the bulk of the taxes, ALLOW their wealth to be redistributed. Does everyone think they’ll just sit there and get soaked? Who says they won’t find ways to shelter their wealth? Or move out of the country to a more tax-friendly country? Don’t think it couldn’t happen.
Posted by: Stacey | March 9, 2009, 7:06 pm 7:06 pm
PM Brown gave two symbolic gifts and one that expressed national pride. Brown came bearing a pen holder carved from the timbers of the sister ship of that which gave the wood to create the famous “Resolute Desk,” the desk that has been in America’s charge since 1880. He also gave Obama the framed commission for that famous ship, the HMS Resolute. His third gift was a seven-volume biography of one of England’s greatest leaders, Winston Churchill
GUESS WHAT OUR OBUMA GAVE HIM
So, what did President Obama give the British PM? 25 movies on DVD. Yeah, that’s it. Brown gives a symbolic gift like the pen holder fashioned from a famous British warship and Obama responds by sending a staffer to WalMart to pick up a few quick movies.
Posted by: david reyes | March 9, 2009, 7:15 pm 7:15 pm
YEP JUST THINK IF ALL THE FIRST STIMULAS WOULDA BEEN ALL STIMULUS THEY WANT A LITTLE STIMULUS AND A BUNCH OF LEFTEST SPENDING, GONNA HAPPEN OVER AND OVER THIS IS THE WAY FOR THE LEFT TO GET EVERY THING THEY WISH FOR AND CALL IT STIMULUS AMERCA DONT BE DUMB PUT A STOP TO THE CRAZYNESS NOW
Posted by: david reyes | March 9, 2009, 7:19 pm 7:19 pm
http://www.msnbc.msn.com/id/29493093/
Give President Obama a grade
Live Vote
If you were grading Barack Obama on his performance as president, what would he get? * 25408 responses
He gets an A
28%
He gets a B
6.5%
He gets a C
4.8%
He gets a D
11%
He gets an F
50%
Not a scientific survey. Click to learn more. Results may not total 100% due to rounding.
msnbc.com
Posted by: justsaying | March 9, 2009, 7:24 pm 7:24 pm
The ONLY reason the stock market has been moving downward is the CONSTANT drumbeat of fear and obstruction by the Republican Party.
Posted by: dan | March 9, 2009, 7:25 pm 7:25 pm
Wonderful SPEND SPEND SPEND us into oblivion. Ok we have a congress and an administration that can’t keep from spending money. Oh that is ok it is our money.
Posted by: aforefreedom | March 9, 2009, 7:28 pm 7:28 pm
Second stimulus? That’s because these idiots don’t know what to do and they are worried if they don’t appear to be doing something, anything, they’ll appear to be as they are – clueless.
Posted by: LongT | March 9, 2009, 7:29 pm 7:29 pm
Obama sees what I see – a country full of suckers to fall for his special interest, lobbyist, tax cheat laden PORKULUS II program.
I love it! So does Wall Street!
Obama is wonderful entertainment. The best part will be when he falls (after he has climbed so high in the hearts and minds of EVERYONE)
Now bend over America, it’s time for PORKULUS II
Your children will thank you for it later…
Posted by: Sucker Spotter | March 9, 2009, 7:34 pm 7:34 pm
With the already impressive results of porkulus 1, do we really need porkulus 2? At this rate porkulus 2 will take the Street to 3000 and an already deep recession to who knows where….This is like a bad nightmare!
Posted by: TxBoB | March 9, 2009, 7:38 pm 7:38 pm
“CONSTANT drumbeat of fear” That drumbeat is coming from this administration, dan — “a catastrophe” “it won’t get better, soon” — the list goes on and on. Every time Obama speaks with his teleprompter the market goes down. All this guy does is practice fear-mongering. That’s why even people in his own party (Bill Clinton, for instance) told him last week he needs to start talking more positively.
Posted by: Get Real | March 9, 2009, 7:39 pm 7:39 pm
I think maybe there are some public officials who aren’t sleeping so well. Not because they are afraid, but because they’ll be found out.
Posted by: LongT | March 9, 2009, 7:42 pm 7:42 pm
Wolf Blitzer asked if the honeymoon with Obama is basically over, and Gloria Borger said yes. Roland Martin looked disgruntled. Blitzer also quoted the article from Newsweek that slammed Obama.
Barack Obama is a great pretender. He constantly says he’s doing things that he isn’t, and he relies on his powerful rhetoric to obscure the difference . . .
Confidence (too little) and uncertainty (too much) are at the core of this crisis. All of Obama’s double-talk threatens to reduce the first and raise the second. Investors and traders have surely noticed the discrepancies between Obama’s words and actions.
Posted by: justsaying | March 9, 2009, 7:47 pm 7:47 pm
Where’s the story of how our president snubbed the British Prime Minister?
Posted by: sarah | March 9, 2009, 7:55 pm 7:55 pm
Here we go again. Another “stimulus”. More money for AIG, auto industry and banks. Obama wasting more taxpayers money.
OUTRAGEOUS!!!
Posted by: CW | March 9, 2009, 7:59 pm 7:59 pm
all you people must have half a brain.how can anyone expect the president to turn everything around in 5 weeks what took the last jerk 8 years to accomplish
Posted by: REDMAN70 | March 9, 2009, 8:00 pm 8:00 pm
This week we heard that Obama wants to negotiate with the Taliban, the terrorist group that hates Americans. The economy is going down the drain fast. Obama’s trillion dollars stimulus has saved 25 jobs so far. Now he is talking about another one ? NO WAY.!! Obama is a disaster for America. He doesn’t know what he is doing and doesn’t care.
Posted by: CW | March 9, 2009, 8:05 pm 8:05 pm
What is a stimulus package going to do if the people don’t have the money to spend? If they do what they did before and give it to corporations/companies, we will be in the same mess we are in now because the people aren’t spending money!
Posted by: Irishrose | March 9, 2009, 8:07 pm 8:07 pm
If these fools that are running our government are not stopped, we will need to take drastic action against our own government before. None of them know what they are doing and everything is guess work. What a calamity that is evolving. I suggestion a national one day strike against the government in protest. I know we need the money and losing a days pay could be difficult for some, but the cost we pay for doing nothing could be far greater. If the American taxpayers are not willing to step up, then most of us will stand down and let happen what will be. You better wake up America, now is the time for your feelings to be shown to that worthless bunch running our government.
Posted by: Bob Retired | March 9, 2009, 8:09 pm 8:09 pm
The markets are taking. They have absolutely NO confidence in this clown of a president.
Posted by: BlameAmericaLast | March 9, 2009, 8:11 pm 8:11 pm
It’s not our fault that Obama lacks the experience needed to fix the economy.
He bit off more than he could chew. He probably lays in bed at night and wonders to himself “why did I let them buy me the election, I don’t know what I’m doing”.
Everytime he does anything, the dow drops. Except keep his mouth closed. One day last week, he said nothing and it was a good day. Every other day he opens it, it drops. Take a hint Obama, clam it.
Posted by: Tame | March 9, 2009, 8:22 pm 8:22 pm
Yeay! MORE inflation!!! No wonder I can’t get out of the grocery for under $100 these days! Thank you Obama, for leading us through the toilet! Let’s devaluve the currency further and go in even more debt. Surely China isn’t satisfied just owning our ports in California, why not make them our landlord as well… Maybe they can send Chinese troops to evict me from my house… Oh well, see ya in (and from) the tent cites Chairman Mao!!!
Posted by: hmn... | March 9, 2009, 8:26 pm 8:26 pm
Excuse me but, America Rejected the Neocon Way in November. So just Shut Up already, we just lived through 8 years of HELL!
Posted by: HenryK | March 9, 2009, 8:34 pm 8:34 pm
“just Shut Up already,” Oh,yeah? Make us, HenryK. We aren’t shutting up and we aren’t going away. Your president’s approval ratings are going down daily. Our numbers are rising. We are coming back stronger and in larger numbers than ever before, thanks to Obama. Remember 1994!!!
Posted by: Get Real | March 9, 2009, 8:37 pm 8:37 pm
When will the President release the original, “vault copy” of his birth certificate. What could he possibly be hiding?
Posted by: Terry | March 9, 2009, 8:46 pm 8:46 pm
When will the President release the original, “vault copy” of his birth certificate. What could he possibly be hiding?
Posted by: Terry | March 9, 2009, 8:47 pm 8:47 pm
i hope people start to see what’s going on here. obama knew damn well that the first PORK bill was simply done to pay back EVERYONE that paved his way to the white house. remember he sold it as an infrastructure bill to the dumb americans and that portion ended up being around 5% of the bill?? now they want more $$$???? THIS IS INSANITY!! HOW MUCH MORE WILL YOU ALLOW THEM TO DO???
Posted by: bhuddaflii | March 9, 2009, 8:53 pm 8:53 pm
Big media?
In the final analysis they are the ones who are responsible for this crisis and for the corronation of this incompetent ninny who they appointed to deal with it.
Jack Welch?
He was the head of GE when they bought NBS and MSNBC. And he is the one who turned that estimable network from a journalistic enterprise into a shill with a**holes like Cowboy Crapus, Tingle Matthews and Olbers***thead.
This ship of fools, this cochophany of usesless bastards–nyt, ap and biggie rat, this big media.
And Pelosi, Reid, Obama?
Dont kid yourself. If they did not exist big media would have had to invent them.
Far wiser to trick the voters, coronate a charlatan, let him tank markets, attack legitimate democrats, bamboozle the weak
Good thinking.
Stop the world. I want to get off.
Posted by: justsaying | March 9, 2009, 8:53 pm 8:53 pm
I’ve read and listened to a lot of folks on the economy and the one who makes the most sense is Jim Cramer.
http://www.mainstreet.com/article/moneyinvesting/news/cramer-takes-white-house-frank-rich-and-jon-stewart?page=1
I hope Obama pulls him in as an advisor or at least listens to what he’s saying. If Obama stabilizes the economy, he’ll have tons of power to make all the reforms we care about. If he doesn’t, the entire package of his initiatives will never be heard from again.
Posted by: hopesprings52 | March 9, 2009, 8:58 pm 8:58 pm
Rush wants Obama to fail.
Obama wants America to fail.
Posted by: justsaying | March 9, 2009, 9:02 pm 9:02 pm
We need another stimulus because the first stimulus doesn’t stimulate anything for another year. And, since nobody knows if the first stimulus will actually stimulate, we need a second stimulus — just to be sure.
Posted by: shiggybop | March 9, 2009, 9:12 pm 9:12 pm
The stimulus funded spending on construction for road and bridge and others infrastructure may not be ready to hire those who recently lost their jobs which are mostly related to assembly line or office works. Is it time for the economy, i.e. housing, shopping, borrowing etc to shrink while letting the people to live within their means ?
Posted by: austin | March 9, 2009, 9:25 pm 9:25 pm
“I suggestion a national one day strike against the government in protest. ”
I’m In lol I’m alredy laid off so I have nothing to loose… it’s not like unimployment has been paying either $220 in 2.5 months what a joke…
Posted by: PCpoor | March 9, 2009, 9:31 pm 9:31 pm
America is really at a crossroads. The future has never been more on the line than it is right now. Forget what Obama represents and focus on us, the American taxpayers. we pay the bills, we should have…, no, we should take the imitative and reclaim our country. If a one day national strike doesn’t cut it, then follow up with a two day national strike, and so on. If the bird brains in Washington still don’t get it (all of them including congress with a small c) then I will support a tax revolt. America is worth fighting for.., and we need to begin the process of taking these screw balls out of office (including all of congress). NAFTA should be canceled, companies that want to manufacture there products in factories overseas should pay huge premiums to sell in out market place. This might just entice others to reopen factories in America because it will be cheaper. Folks, the days of democrat versus republican between the American citizens and taxpayers must end. We are all Americans and want our country back. I’m willing to fight for it, how about you?
Posted by: Bob Retired | March 9, 2009, 9:42 pm 9:42 pm
Seems to me that the majority of Republicans in Congress did a lot of squawking about the amount of money in the first ARRA (stimulus) bill. Oh, they tried to claim they were standing up against “earmarks” when in truth there was nothing in the bill that actually met the true definition of an “earmark”. Nonetheless, squawk, yammer and run off at the mouth they did with great abandon.
It also seems to me that President Obama and the Congressional Democrats held back on spending in the first ARRA in order to make it more palatable to the Republicans. Held back to the point that many, if not most of the respected economists expressed deep concern that the amount of money might not be enough.
Now this is a fact that President Obama and his team have acknowledged. However, Obama and his economic team have a plan in place. Part of that plan is the stress testing of the banks. That stress testing has begun. Thus, it seems to me that if a member of Obama’s team is indicating that further stimulus money to the banks may be needed, she is signaling that the stress testing is turning up some significant weaknesses. Weaknesses that left unaddressed would probably contribute to the meltdown.
These news people need to get a better understanding of what is going on with our economy, and the global economy. I think we are really seeing the failure of the neoliberal economics ushered into the U.S. by Reagan and carried on by every Republican president, since. It was even carried on in some degree by Clinton and his enthusiasm for globalization.
In his book, “A Brief History of Neoliberalism”, David Harvey described neoliberalism as delivering, “world of pseudo-satisfactions that is superficially exciting but hollow at its core”. Under George W. we saw neoliberal economics taken to an extreme not seen on the national or international level before. An extreme in which making money and “manufacturing” wealth became more important than anything else. More important than people or the environment. This opened the door for those driven by noxious greed to: offer the atypical mortgages to those who were probably not really financially able to by homes; to then bundle those weak mortgages and sell them to even more greedy investors and so on until in the hope and drive to make even more money there was such a hot trade in debt. And then…. well we know what happened next. The at first slow crumbling as home buyers began to default on mortgages they really could never afford…
So, now we are left with many banks that went along with the neoliberalism and are now in less than robust health. Infact maybe on death’s doorstep. Would it be responsible for our government to let the collapse happen, or to greatly increase oversight and help the banks weather the storm?
Posted by: PumaJ | March 9, 2009, 9:48 pm 9:48 pm
I canot believe we have gone from the largest financial surplus in the history of the United States of America to the biggest deficet in just 8 years, Who was watching? And for republican responce, More of the same, Let them explain to their children what they contributed to make a better world for them to live in.
Posted by: Winter | March 9, 2009, 9:52 pm 9:52 pm
To: Pumaj… Why don’t you stop the crap. We have all had and heard enough from people like you. Evidently you don’t have the intelligence to see what is really happening. We need to pull together as Americans , not continue the democrat versus republican BULLSHIP so ingeniously established by the congress to divide our country.
Posted by: Bob Retired | March 9, 2009, 10:00 pm 10:00 pm
Print that money, baby! Keep those presses rolling!
Posted by: FauxFoxx | March 9, 2009, 10:03 pm 10:03 pm
Obama is not running anything. Queen Nancy is and so is Harry Ried. Don’t any of you know better. if, and that is a BIG IF, Obama was running things, then we would have had a much bigger porkolopis bill. Queen Nancy figured that she could only get 800 Billion. the next one will be 1 Trillion.
Posted by: platteman | March 9, 2009, 10:22 pm 10:22 pm
PM Brown gave two symbolic gifts and one that expressed national pride. Brown came bearing a pen holder carved from the timbers of the sister ship of that which gave the wood to create the famous “Resolute Desk,” the desk that has been in America’s charge since 1880. He also gave Obama the framed commission for that famous ship, the HMS Resolute. His third gift was a seven-volume biography of one of England’s greatest leaders, Winston Churchill
GUESS WHAT OUR OBUMA GAVE HIM
So, what did President Obama give the British PM? 25 movies on DVD. Yeah, that’s it. Brown gives a symbolic gift like the pen holder fashioned from a famous British warship and Obama responds by sending a staffer to WalMart to pick up a few quick movies.
THE MEDIA HIDES THIS WHAT DO THINK IF IT WAS BUSH WHO WAS SO BONEHEADED
Posted by: david reyes | March 9, 2009, 10:31 pm 10:31 pm
It’s funny how the liberals’ only response to this is. “It’s not our mess. It’s Bush’s fault.” Hey geniuses, he’s not around anymore. You’re guy either needs to actually do something besides buy swingsets and DVD’s or get the hell out and bring in someone who can.
Posted by: SChaos1701 | March 9, 2009, 10:34 pm 10:34 pm
To: david reyes…. Hi David, you bring up something the print and TV media ignores because it was a classless, embarrassing thing Osama Obama did. But, not to worry, there is an organization in Texas that is organizing a “cancel your newspaper subscription drive” along with a boycott of the “drive by TV news” stations. I don’t know any more than the two are designed to respond to illegitimate political news coverage. I plan on supporting both actions when they are announced soon.
Posted by: Bob Retired | March 9, 2009, 10:42 pm 10:42 pm
Please don’t decide until you have returned from your vacation Pres.Obama
Posted by: liberaltiger | March 9, 2009, 10:43 pm 10:43 pm
Bob Retired
IM IN HOUSTON DO YOU HAVE A WEB SITE I WANNA GET IN ON THE PROTEST
Posted by: david reyes | March 9, 2009, 11:37 pm 11:37 pm
Try 1 stimulus plan, and it has no effect.
Try a second plan, and it has no effect.
Try a third? Is there any end to this insanity?
Unites States Government is corrupt beyond belief. Time to dispose of them all and start over.
Posted by: Cogito | March 10, 2009, 12:17 am 12:17 am
Tea parties all over America on April 15th. taxdayteaparties.com has all the info for each state. Come on, folks, it’s time to tell Washington to quite motgaging our future.
Posted by: Babs | March 10, 2009, 1:11 am 1:11 am
DONT WORRY FOLKS IF YOU MISSED IT THE 1ST 3 TIMES JUST STICK AROUND WE HAVE 46 MONTHS OF MASSIVE WASTEFUL SPENDING TO GO. AND THE MARKET HAS ONLY LOST 65% OF ITS VALUE FROM OBAMAS PLANS SO FAR
BUT REMEMBER AMERICA WHEN WE APPROCH 77% THE MARKET WILL COLLAPSE AND YOUR Messiah IS THE ONE DRIVING THE BUS
face it folks OBAMA IS BLEACH AND HAS KILLED EVERYTHING HE HAS TOUCHED..
quick SOMEONE TELL ME ABOUT HOW BUSH DID IT WHILE oBAMA IS EMPTING MY BANK ACCOUNT
Posted by: Phillip Bias | March 10, 2009, 1:14 am 1:14 am
davidreyes: This blunder by the Obamas in their treatment of the Browns was reported all over the European press, but not a word over here except on Fox. Are you surprised at either the lack of class on the part of the White House or the non-reporting of this by our MSM? I’m not.
Posted by: Babs | March 10, 2009, 1:15 am 1:15 am
Folks, if you look back over the past 25 years or so, I’m sure you will be able to recognize the many ways in which the tenets below were put into place. We are now paying the price for the attendant rampant greed.
The 5 main points of neo-liberalism:
1) THE RULE OF THE MARKET. Liberating “free” enterprise or private enterprise from any bonds imposed by the government (the state) no matter how much social damage this causes. Reduce wages by de-unionizing workers and eliminating workers’ rights that had been won over many years of struggle. No more price controls. All in all, total freedom of movement for capital, goods and services. To convince us this is good for us, they say “an unregulated market is the best way to increase economic growth, which will ultimately benefit everyone.” It’s like Reagan’s “supply-side” and “trickle-down” economics — but somehow the wealth didn’t trickle down very much.
2) CUTTING PUBLIC EXPENDITURE FOR SOCIAL SERVICES like education and health care. REDUCING THE SAFETY-NET FOR THE POOR, and even maintenance of roads, bridges, water supply — again in the name of reducing government’s role. Of course, they don’t oppose government subsidies and tax benefits for business.
3) DEREGULATION. Reduce government regulation of everything that could diminsh profits, including protecting the environmentand safety on the job.
4) PRIVATIZATION. Sell state-owned enterprises, goods and services to private investors. This includes banks, key industries, railroads, toll highways, electricity, schools, hospitals and even fresh water. Although usually done in the name of greater efficiency, which is often needed, privatization has mainly had the effect of concentrating wealth even more in a few hands and making the public pay even more for its needs.
5) ELIMINATING THE CONCEPT OF “THE PUBLIC GOOD” or “COMMUNITY” and replacing it with “individual responsibility.” Pressuring the poorest people in a society to find solutions to their lack of health care, education and social security all by themselves — then blaming them, if they fail, as “lazy.”
Posted by: PumaJ | March 10, 2009, 2:52 am 2:52 am
http://www.taxdayteaparty.com
Posted by: MadeInUSA | March 10, 2009, 9:16 am 9:16 am
Another stimulus…translation from Obama/Pelois/Reed supports “You forgot us guys, we want our $$$ too”
Who will we be paying off now.
Imagine how stimulated the economy would be if that money went right to us! Gee as a business owner if I got a couple months of no payroll taxes, or something, I could keep an employee hired for a few more months, I could maybe buy a new car, I would buy some new furniture.
Oh yea, this isn’t about me or any of us the little people who pay the bills, it is about all of the Dem’s friends!!!
What a mess
Posted by: Sue | March 10, 2009, 9:25 am 9:25 am
Bailing out companies who fluff up the numbers to pay out large bonuses based on profits that will never be realized doesn’t make sense. AIG is appearing like an Enron-ish structure supersized on megatrend steroids.
Posted by: aray | March 10, 2009, 12:17 pm 12:17 pm
Translation: They haven’t stolen enough money from the American people so they’re back for more!
Posted by: Karen | March 10, 2009, 1:48 pm 1:48 pm
And seriously, people need to wake up. If Obama cared about the American people, the first stimulus that went through would NOT have been laden with pork projects. Millions and billions of dollars went to absolutely asinine things when people are going hungry and homeless and are scared to death how they will make it through the next day. The absolute AUDACITY of this man is mind boggling. Frisbee parks get millions and if you’re lucky enough to still have a job, YOU get $8-$13 dollars back in your check. Thanks a bunch! Don’t spend it all in one place!!!
Posted by: Karen | March 10, 2009, 1:55 pm 1:55 pm
Puma J- Actaully your posts do not mirror neo liberalism, rather they are more in line with fiscal conservatism. However, some of your statements are a bit off.
Rule of market- First, in a free market economy, the fewer regulations the better, but some are necessary obviously. Interesting you should talk about union rights and cast only blame on the company.. what about the auto industry that is currently fighting for survival while union members who have been layed off get to sit at home for up to 5 years drawing 90% of their pay..Is that a right, or an abuse in your eyes? “Trickle down” economics is a quaint term coined by liberals because it has a crumbs from the table connotation. the reality is that “trickle down” simply means that as one business expands, it impacts the expansion of other businesses which impacts the expansion of still more.. the principle of Obama’s stimulus spending is the same, except instead of using tax breaks to jump start business, he proposes infrastructure government spending to create the same trickling effect. Only problem is that his way costs trillions and drives inflation up to the point of being counter productive.
the expenditures that you mention, roads, schools, assistance programs, in most cases are the responsibility of the STATES not the federal government.
Constitutionally, the FED is only supposed to do a limited number of things. Defense (provide for the commoen defense)and provide a safety net only for those whose states cannot provide for ( promote the general welfare). Aside from that, states rights are not to be impinged upon.. Deregulation – again, constitutionally, only regulation that is necessary for the general welfare of the public and not conterproductive to the common goal of the free market should be entertained.
Privatization – this country was founded on FREEDOM FROM GOVERNMENT CONTROL. Anything that can be handled equally or better by the private sector as opposed to the government should be…
Finally, you have the last one backwards.. this country was founded on individual responsibility and not on the “public good” or “community”. Its not that those are being eliminated, they were not exalted to begin with… individual responsibility WAS.
Posted by: arkie vet | March 10, 2009, 2:07 pm 2:07 pm
Winter-I canot believe we have gone from the largest financial surplus in the history of the United States of America to the biggest deficet in just 8 years, Who was watching” — This is a great example of why people believe things like the “stimulus bill” will work and the republicans caused this..
Umm financial surplus??? we have not had a financial surplus since before WW2? What surplus??
Posted by: arkie vet | March 10, 2009, 2:16 pm 2:16 pm
1. First we must stop trying to separate illegal aliens from U.S. citizens. Do not check on citizenship. We are all citizens of the world.
2.Any benefits for citizens must also be for aliens. No argument. This way you are also helping the Mexican economy to the tune of about 18 Billion dollars per year. Two fer one.
Posted by: Gorki | March 10, 2009, 2:50 pm 2:50 pm
I never received my first stimulus! Where is it?
Posted by: jill | March 10, 2009, 3:03 pm 3:03 pm
Hi libs!
Wow. Never saw this coming. Even a rat learns a conditioned response after getting shocked a couple of times…
Are you going to still lecture republicans on how Bush spent 1/4th as much on the Iraq war in 50x the time spent by obama essetially spending/evaporting $4 trillion?
Posted by: Hawk | March 10, 2009, 4:25 pm 4:25 pm
Again more spending on the failed democratic Donkeynomics
Posted by: Dan | March 10, 2009, 4:29 pm 4:29 pm
This is from a prophetic 1944 speech by the late Norman Mattoon Thomas (1884 – 1968). Norman was a leading American socialist, pacifist, and six-time presidential candidate for the Socialist Party of America. Norman Thomas said this in a 1944 speech: “The American people will never knowingly adopt socialism. But, under the name of ‘liberalism,’ they will adopt every fragment of the socialist program until one day America will be a socialist nation, without knowing how it happened.” He went on to say, “I no longer need to run as a Presidential Candidate for the Socialist Party. The Democratic Party has adopted our platform.” He couldn’t have called it better!
Posted by: Sandcrab1612 | March 10, 2009, 5:25 pm 5:25 pm
let’s blame hispanics and jimmy carter instead of helping people
Posted by: smith | March 10, 2009, 6:30 pm 6:30 pm
arkie vet is delusional with their comment.
Posted by: SChaos1701 | March 10, 2009, 9:29 pm 9:29 pm
today, Citi Bank appears to have benefited and helped the market surge….
Posted by: t | March 10, 2009, 10:22 pm 10:22 pm
If we really want to stimulate the economy, EXPAND (rather than allow to expire) the Bush tax cuts; or offer tax credits for permanent reductions in personal and mortgage debt or both. Not fair, you say, to allow those at the high end of the tax spectrum to get more tax cuts (I just can’t waste any more breath trying to explain why this argument is lunacy, so I will go at it another way)? At a minimum it is fair to balance out the great giveaway in the last stimulus and the Bush stimulus, thus sharing the wealth (ahem, the wealth contributed mostly by those at the top of the income ladder, by the way; that is, this is THEIR money in the first place). Worked for JFK (posthumously) and Reagan and, follwing the tech bubble and 9/11, for Bush. Viva la Reagan Revolution: it is the only thing we KNOW works.
Posted by: ProtectFreedom | March 11, 2009, 3:51 pm 3:51 pm
…wow!….a second stimulus!…how do I apply for one of those Chinese credit cards? I don’t want to be around when they call their loans!!!!!!!!!!!!!!!!!!!
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