The Obama $787 Billion Stimulus - Succeed or Fail?

[Raider]

Simple question, Do you think the recent $787 Billion Dollar Stimulus will work or Fail?

All indicators show it will FAIL, I agree.

Even Ron Paul is in strong opposition....

Ron Paul: Obama Stimulus Package Will Turn Recession Into Depression

Good interview here



Here's a recent article today; another good read.


Big stimulus bill sparks long-term fiscal fears

WASHINGTON — Despite all the White House hoopla Monday about "fiscal responsibility," Washington is showing little inclination to practice what it's preaching.

The $787 billion stimulus package that President Barack Obama signed Feb. 17 adds an estimated $185 billion to the already-record federal deficit for fiscal 2009, pushing it up to about $1.4 trillion . That's a whopping 10 percent of the gross domestic product, the highest level since the end of World War II.

The measure's full of projects that Democrats, who are in charge of the legislative and executive branches for the first time since 1994, have sought for years, and it's questionable whether many of those provide the economy much of a short-term boost.

Even more such projects are included in the next round of legislation, a $410 billion spending plan for the rest of fiscal 2009 that the House of Representatives is to consider Wednesday.
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[stock_post]

Let us wait and see..
"Hope" is what you need.
Let us give time to our new president.

[Raider]

Let us wait and see..
"Hope" is what you need.
Let us give time to our new president.

They say it will take almost a year before we start seeing results... Also the House is considering another $410 Billion on Wednesday. At the rate Obama is going, it wont be long before were in a depression.

Wait and see doesn't work, We need to lower Taxes right NOW and get this economy moving again.

[Donald Aquilano]

History has shown us that it will fail. Does Obama care? No because the worse off the economy gets the more he'll be able to impose radical social and economic changes in the US.

[500,000]

The Domain name.

[Raider]

Good points... Tonight Obama will address the nation and most are predicting he will push the blame on Bush, He can do that all he wants but he can only do it for so long, before he himself takes responsibility for not improving our economic situation.

I was reading another article today that shows confidence in Obama's plan is on the decline......

Confidence in Stimulus Plan Drops Over Past Week

Confidence in the $787-billion economic stimulus plan has fallen four points in the week since President Obama signed it into law, and more voters are prepared to punish their representatives for supporting it.

Thirty-four percent (34%) of U.S. voters now say the plan will help the economy, while 32% believe it will hurt, according to a new Rasmussen Reports national telephone survey.

Twenty-six percent (26%) say the plan will have little impact on the economy. Eight percent (8%) are undecided.

A week ago, 38% of voters said the plan will help the economy, while 29% said it will hurt.

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[DomainsInc]

We better all hope it works or we'll all be in trouble. While I agree that you can't spend your way out of a recession, tax cuts made in the past have done little if anything at all to improve things.

[cleverlyslick]

I don't know man,I am obama supporter.but this bill seems a little extreme.if this doesn't work.what's going to happen to our children or even grandchildren?

on the flip side though,team obama can't just sit around and just let this sort itself out.I say if we gave bush and his f*ups a chance,why not let Obama.

[Raider]

We better all hope it works or we'll all be in trouble. While I agree that you can't spend your way out of a recession, tax cuts made in the past have done little if anything at all to improve things.

There are all kinds of taxes, so I'm not sure what taxes your referring to, we need to lower corporate taxes and I don't think this bill goes far enough, we also need to lower income taxes and need to cut spending, which will be nearly impossible as long as Democrats control both houses.

I agree with Ron Paul when he said; "When Government spends money, they spend it in a non productive manner", which is exactly what their doing in this stimulus bill.

[fab]

I think the idea behind government spending is, the idea that they know what's bets. Milton Freedman said just the opposite, a person spends his own money best, far better then he spends someone elses money.

[biggedon]

30 something days in office and already calling obama a failure


geez....a brother don't get no breaks

[DomainsInc]

There are all kinds of taxes, so I'm not sure what taxes your referring to, we need to lower corporate taxes and I don't think this bill goes far enough, we also need to lower income taxes and need to cut spending, which will be nearly impossible as long as Democrats control both houses.

I agree with Ron Paul when he said; "When Government spends money, they spend it in a non productive manner", which is exactly what their doing in this stimulus bill.

Lowering income taxes would help everyone but as for as corps are concerned, most would just use the tax cuts to move more things to other cheap labour countries. Its a horrible ever growing practice that is no doubt a large reason for the unemployment rates these days.

[Raider]

I think the idea behind government spending is, the idea that they know what's best. Milton Freedman said just the opposite, a person spends his own money best, far better then he spends someone elses money.

I agree with Freedman.

I also corrected your typo for you

30 something days in office and already calling obama a failure


geez....a brother don't get no breaks

Nobody is calling Obama a failure "Yet", I think you need to read the thread again.

This about a wasteful stimulus bill that will do little to pull us out of the recession were in.

I don't know man,I am obama supporter.but this bill seems a little extreme.if this doesn't work.what's going to happen to our children or even grandchildren?

on the flip side though,team obama can't just sit around and just let this sort itself out.I say if we gave bush and his f*ups a chance,why not let Obama.

The problem is; were so far in debt that were not in a position to be taking that chance.

[biggedon]

Nobody is calling Obama a failure "Yet", I think you need to read the thread again.

This about a wasteful stimulus bill that will do little to pull us out of the recession were in.

so would you rather McCain and Palin be calling the shots now?

or maybe Bush should have got a third chance?

what would make you happy or feel better?

[cursal]

We had all better hope that it succeeds.

What really is the alternative to hope for?

Well I guess we could hope to see the Fed Abolished once and for all....maybe after his first 4 years.

[Raider]

so would you rather McCain and Palin be calling the shots now?

or maybe Bush should have got a third chance?

what would make you happy or feel better?

For one; Obama is not calling the shots on these bills, he should be but he's NOT. Two; This is not about who should of got elected, it's about what's currently happening, There is word that "Obama Stimulus II" is in the works...

If you've been following the stock market, you would know it's not reacting very well to what Congress and our current President are doing, Neither are the American people.

Tomorrow the house debates a $410 BILLION dollar spending bill... At the rate Democrats are going, well be up to a 2 Trillion dollar federal deficit in no time.

We had all better hope that it succeeds.

I really hope it does succeed... I know a lot people who are really struggling right now.

[Focus]

I think it's the best idea put into action yet...if it does'nt work then I don't think anything will...

[HarveyJ]

Just pointing out that this stimulus bill, with most of its current stuff was on the table during the election period, and was endorsed by both candidates to some extent.
It was going to happen regardless of who got in, so any failure of this bill IS part of the GWB legacy, which is part of the moral panic legacy of the Clinton Administration, which is part of the backlash against the Bush Snr administration, which was just following the rails set down by Reagan who wanted to be seen as doing something different from Carter (one of the best presidents EVER!), who had the shiteful time of cleaning up the mess left by Nixon (Ford counts for nothing) who wanted to be seen as way more hardcore than LBJ who had to be hardcore because of the Kennedy scandals.
And Kennedy just wanted to have some fun because Eisenhower was a paranoid douche who thought everyone was a communist.

So really, if the economic stimulus plan fails, blame Eisenhower...

[tas38]

They robbed all they can with out bring down the whole USA, so yes it will work so they can build it back up, for them to rob it all over once again later on.