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Thread: Senate passes Obama's economic recovery plan

  1. #31
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    Re: Senate passes Obama's economic recovery plan

    Quote Originally Posted by Reverend_Hellh0und View Post
    What are we up to between the two? 1.4 trillion hard cash?
    Just for this "stimulus" with 10 years of interest it is projected to cost 1.2 trillion.
    I was discovering that life just simply isn't fair and bask in the unsung glory of knowing that each obstacle overcome along the way only adds to the satisfaction in the end. Nothing great, after all, was ever accomplished by anyone sulking in his or her misery.
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    Re: Senate passes Obama's economic recovery plan

    Quote Originally Posted by danarhea View Post
    I agree, and let me commend you for jumping on Bush over his bailout too. It's good to see a few people who regard this as a load of crap, whether Bush or Obama does it.
    What's good now? God be willing to makes us wrong.

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    Re: Senate passes Obama's economic recovery plan

    Quote Originally Posted by Harry Guerrilla View Post
    Just for this "stimulus" with 10 years of interest it is projected to cost 1.2 trillion.
    And yet it will not be nearly enough.

    We have watched roughly $20 trillion of American wealth evaporate. Loss of paper wealth in US may touch $20 trillion

    BTW, Jeremy Grantham is the one who constructed that number. Jeremy Grantham - Wikipedia, the free encyclopedia

    What the **** is $30 billion in infrastructure stimulus going to accomplish?
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
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    Re: Senate passes Obama's economic recovery plan

    Quote Originally Posted by Gibberish View Post
    Actually there is a ton of stimulus in the plan. Every project puts money back into the market. Though some of the items could have been either removed or planned better (STD spending for example), they will still have an effect.
    The issue with these things that "could have been either removed or planned better" is the fact that while they may still have an effect, the amount of money going to them and the stress it puts on the debt may have a net NEGATIVE effect instead of a positive.

    Hacking off your arm will stop the gangreen on your pinky from spreading. However, hacking off the pinky would do the job and still give you a hand and arm to use.

    This is hacking off the arm.

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    Re: Senate passes Obama's economic recovery plan

    Quote Originally Posted by Reverend_Hellh0und View Post
    What are we up to between the two? 1.4 trillion hard cash?
    Are you aware how much the economy has lost so far? Over 2 trillion.

  6. #36
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    Re: Senate passes Obama's economic recovery plan

    http://www.nytimes.com/2009/02/11/wa...b-stim.html?hp

    In addition, there are tens of billions of dollars in differences on spending programs and even in the tax provisions. The Senate, for instance, scaled back Mr. Obama’s signature middle-class tax cut proposal, called “Making Work Pay” to save about $2 billion from the overall cost of the package.

    The trims made by the Senate would mean that only about 87 percent of American taxpayers would benefit from the tax cut, with the wealthiest of those receiving only a partial credit. Mr. Obama, during his campaign for the presidency, had promised a tax cut for 95 percent of American families.
    That means that Obama's tax cut would only benefit those making less than around $85k. Of course, that also ignores the 41% of people who either don't pay taxes or don't file. So, in reality, after you count the 13% of taxpayers who won't be getting anything under this provision, Obama's "tax cut for 95% of American families" would actually only cut taxes for 51% of families.
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    Re: Senate passes Obama's economic recovery plan

    Correct me if I am wrong but I have also read that the bulk of the money wont be released for two years. If we could get congress back in 2012 would we be able to reverse this?
    Jackboots always come in matched pairs, a left boot and a right boot.

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    Re: Senate passes Obama's economic recovery plan

    The New Deal ran into trouble because it ran out of money 4 years in. This is a problem that will take a long time to fix, it would be shortsighted to throw all the money at the issue at the same time

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    Re: Senate passes Obama's economic recovery plan

    Quote Originally Posted by WillRockwell View Post
    The New Deal ran into trouble because it ran out of money 4 years in. This is a problem that will take a long time to fix, it would be shortsighted to throw all the money at the issue at the same time
    OK now I know that whatever is amount of money government takes to spend it runs out of money in exactly 4 years. 25% of unemployment in 4 years?... I wish it would happen now and be over in 4 years without spending any money...

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