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Nearing a trillion dollars, and a lot of
pork. Rejected by almost all Republicans.
In a major victory for President Barack Obama, Democrats muscled a huge, $787 billion stimulus bill through Congress late Friday night in hopes of combating the worst economic crisis since the Great Depression. Republican opposition was nearly unanimous.
After lobbying energetically for the bill, Obama is expected to sign it within a few days, less than a month after taking office.
The legislation, among the costliest ever considered in Congress, provides billions of dollars to aid victims of the recession through unemployment benefits, food stamps, medical care, job retraining and more. Tens of billions are ticketed for the states to offset cuts they might otherwise have to make in aid to schools and local governments, and there is more than $48 billion for transportation projects such as road and bridge construction, mass transit and high-speed rail.
In a bow to political reality, lawmakers included $70 billion to shelter upper middle-class and wealthier taxpayers from an income tax increase that would otherwise hit them, a provision that the nonpartisan Congressional Budget Office said would do relatively little to create jobs.
In the House, all 246 votes in favor were cast by Democrats. Seven Democrats joined 176 Republicans in opposition.
This must be a record. Less than a month in office and already we’re instantly $787 Billion behind. Will this help any of you? Maybe you qualify for some of that $70 Billion for wealthy taxpayers.
# 70 GetSmart said, “Tax cuts , and such seem to have little effect. Everyone claims the Reagan tax cuts pulled the US economy out of a recession that largely an outcome of uncertain energy supply and stagnate productivity. I’m surprised that people on what supposedly is a tech oriented blog fail to notice the timing.”
LOL. Reaga’s last full year in office was ’88. I was in the tech field at that time. PCs had very little productivity impact on 99% of businesses at that time. Mini computers still ruled. How old are you?
#53, ‘temp,
After going through your links I discovered all were the writers opinion not actual fact pieces.
Bullshit. Four were written by renown economists and the fifth was a report about a GAO study. But I guess you think a Nobel Prize winner in Economics doesn’t know anything.
In actual practice lowering taxes and lowering government spending is the first-best step toward a healthy economy.
Says who? The same people that got us into this mess in the first place? I notice you insisted upon something to support my position but you don’t.
The Obama plan is financial slavery.
Hahahahaha, oh that is good, hahaha. I guess it is better to live in an unstable 3rd world country than a stable, wealthy one.
In case you didn’t read the post about corporations not paying taxes, most of them have sourced some or even most of their production to 3rd world countries. And they still don’t pay taxes.
#59, glib,
the stimulus bill is actually a Democrat power perpetuation bill.
Good!!! They won the election, not they can start correcting the damage done by the past eight years.
A lot of the provisions of the bill steer money to Democrat organizing entities, ACORN for example and other similar organizations.
Hey !!! Great !!! ACORN is a truly good organization. That the Republicans only preach self responsibility and won’t help poorer people realize it is a shame. But then Republicans only care about those who vote for right wing nuts.
President Obama wrote executive orders that make government project contractors, virtually union shops only.
Good. About time too.
The card check provisions eliminate secret ballots to establish unions at non union companies.
It will also reduce employer intimidation.
President Obama and the Democrats are laying the ground work for a massive unionization surge.
When America was heavily unionized was when we were the power that won the Cold War. That was what made America great. Today, only Corporations that loot the treasury are loved by the right wing nuts.
The unions, both public sector and private sector spend hundreds of millions of dollars to influence elections.
Unions are restricted in how much money they may contribute to candidates and issues. Corporations however, never seem to exercise much restraint and have never asked for my permission to use the profits for politics instead of dividends.
The unions effect school board elections to presidential elections. The unions almost always endorse democrat politicians and policy.
Really? I support any candidate that is of the bent as myself.
President Obama is pushing very hard to get this stimulus bill passed quickly
The country is bleeding. We need the bill, we need the help. Yesterday, not next year.
The number one priority of President Obama and the Democrats is to stay in power not the U.S. economy.
And the best way to accomplish that is to provide programs that the voters need instead of a few elite corporations that greased the wheels of the Republicans Party.
#61, Lyin’ Mike,
Well all your first link says is that most corporations don’t pay taxes, and is not relevant.
That is the point. How can lower taxes help someone not paying taxes? Are you that stupid?
I posted links to four economists comments on taxes helping the economy. They all agree. Then there is the GAO study that most corporations don’t pay taxes (or minimal taxes) as it is.
Regardless of how much they pay in taxes. They won’t build more cars if there is no one to buy them. The same for houses, appliances, pens and writing paper.
#62,
Paul Krugman just won the Nobel Prize in economics. As well, he is a full time Professor at Princeton. Maybe his bias that the right wing nut position doesn’t work has some merit. I also note that you haven’t presented any authority to contradict him. So I guess that makes your economics just a personal opinion compared to Krugman’s learned opinion.
I’m not sure if the stimulus will help that much. Economies go through cycles and recession is part of the cycle. I read a good article on the history of cycles at, I think,
http://www.recessioninfocenter.com
Cow-Patty,
PCs had very little productivity impact on 99% of businesses at that time. Mini computers still ruled. How old are you?
Unless you meant workgroup computers such as the WANG I disagree.
Computers didn’t start making an impact until the 386 became commonplace. Mostly they eliminated jobs in the beginning.
Regardless, they did not create many new jobs even if they increased productivity. The 1980s were more a show o resilience of the American industrial might.
Well, I have noticed that none of the right wing nuts have offered up any alternative solutions other than:
Reduce taxes,
Have a rebellion,
Wait, things might get better,
Fusion is a commie,
Yup. A real lot of intellect coming from that crowd.
# 80 Mr. Fusion said, “Unless you meant workgroup computers such as the WANG I disagree. ”
Those were primarily hooked up to the Wang mini’s.
# 79 Mr. Fusion said, “Sedition and rebellion against the State is a Capitol Offense. ”
Sedition a capital offense? LOL
Brandenburg v. Ohio
You REALLY need to finish grammar school.
#83, Cow-Patty,
Sometimes idiocy is really your strong point. Especially in a case like this where you obviously have no idea what you are talking about.
Advocating the violent overthrow of an elected government is still a crime. If you do look it up, try finding something a little more relevant.
#79 Mr. Commiefusion
Sedition and rebellion against the State is a Capitol Offense.
You are damn right it is. The time is fast approaching when “We The People” will take back this country from these Banksters, Members of the New World Order, Counsel on Foreign Relation, Bilderbergers and Club of Rome.
“We The People” will restore the Constitution and the meaning of Liberty.
I do my revolution through the ballot box.
# 86 Mr. Fusion said, “I do my revolution through the ballot box.”
Ideally that is best. However, we seem stuck with a 2 party system of incompetent boobs.
I think we may see this before our lifetime is out:
“The tree of liberty must be refreshed from time to time with the blood of patriots and tyrants.”
I think he know the inevitable would happen even in the U.S.
How are we going to pay for it?
#88–Christian Debt Management==hah, hah. Great Nick. I’m sure most of your others are too, but this one struck my fancy.