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  • Morning Bell: A Trillion Dollar Bridge to Nowhere

    The more the American people learn about President Barack Obama’s Trillion Dollar Debt Plan, the more they don’t like it. According to a Gallup Poll released today, 54% of Americans either want Congress to reject Obama’s debt plan entirely, or they want major changes to it. Only 37% support the plan in its current form. A full 78% of Americans are significantly concerned that the plan will not stimulate the economy fast enough and 53% of Americans believe the plan will not have an effect at all.

    There is a reason even Democratic Senators are calling Obama’s Trillion Dollar Debt Plan the “so-called stimulus” bill. There is very little in the plan actually designed to stimulate the economy. Only $137 billion of the $884 billion in the bill is is devoted to infrastructure spending. That is just 15%. The rest of the bill is filled with short and long term efforts by the far left in Obama’s party to permanently redistribute spending and power away from the private sector and toward government.

    The Pork

    The real problem with Obama’s Trillion Dollar Debt Plan is the permanent new education and health care spending disingenuously passed off as “temporary stimulus.” But all of the non-stimulus line items in the bill make for a more vivid demonstration of what the left is trying to accomplish. The pork in this bill includes: $1 billion for Amtrak, $2 billion for child-care subsidies; $50 million for the National Endowment of the Arts; $400 million for global warming research; $2.4 billion for clean coal; $650 million for even more digital TV conversion coupons; $600 million for new government cars; $7 billion for modernizing federal buildings; $150 million for the Smithsonian; $345 million for Agriculture Department computers; $870 million to combat the flu; $400 million to fight STDs; $3 billion for after school programs; $1 billion Community Oriented Policing Services; $1 billion to help states collect child support; $400 million for NASA to compile climate change research; $400 million for the Department of Commerce to fund habitat restoration projects at the National Oceanic and Atmospheric Administration; and $400 million for the Social Security Administration to replace its computer system.

    All of this spending may have merit on its own, but none of it belongs in an economic stimulus bill.

    The Waste

    Even the actual infrastructure spending in the bill is rife with leftist priorities that guarantee the money will be wasted instead of creating public goods capable of helping the economy grow. The Trillion Dollar Debt Plan includes $9 billion for expanding broadband to rural areas of the country. But a report last month by Pew shows one in three Americans not currently on the internet have no interest in going on line now regardless of the cost. As the New York Times reports, this makes the Debt Plan’s broadband effort “a $9 billion cyberbridge to nowhere.

    Other popular infrastructure items like school construction are also destined to be wasted. The Milwaukee Public Schools would reap $88.6 million over two years for new construction under the debt plan even though the district has 15 vacant school buildings, a large surplus of property and no plans for new construction. And don’t forget the ‘Buy American’ provisions that big labor is pushing. Not only could they start a Great Depression style trade war, but as Dartmouth professor of economics Doug Irwin demonstrates, they will also add billions in unnecessary construction costs to otherwise cost-effective infrastructure projects.

    The Cost

    Obama’s Trillion Dollar Debt Plan is larger than the combined total cost of the wars in both Iraq and Afghanistan. The borrowing Obama’s plan requires will shatter post-WW II records for deficit spending. It will more than double the previous debt to G.D.P ratio record set in the 1980s. If all families were asked to equally shoulder the burden of the $819 billion stimulus package, it would be like asking them to take on an amount of debt equivalent to what they spend on food, clothing, and health care or most of what they spend on shelter for an entire year. By even the most optimistic estimates debt-ratios of this size will drive interest rates up by 0.7 and 1.1 percentage points. Such increases in interest rates would significantly weaken the economy further and delay for many months any hope of significant recovery.

    For What?
    According to the Congressional Budget Office’s latest estimates, Obama’s Trillion Dollar Debt Plan will only create 1.2 million to 3.6 million jobs, and most of the jobs would only replace those lost to the recession. It is not just conservatives that see fundamental problems with Obama’s Trillion Dollar Debt Plan. President Bill Clinton’s budget director, Alice Rivlin told the Senate there are two risks with including all of the left’s permanent spending priorities in what is supposed to be an economic stimulus bill: “One is that money will be wasted because the investment elements were not carefully crafted. The other is that it will be harder to return to fiscal discipline as the economy recovers if the longer run spending is not offset by reductions or new revenues.”

    As we showed above, this bill is rife with “not carefully crafted” spending that will be wasted. And the leftist elements in control of Congress have no track record of reducing spending. By their own criteria, Obama’s Trillion Dollar Debt Plan is destined to fail. But if you don’t trust us, here is what John Maynard Keynes wrote in 1942:

    Organized public works, at home and abroad, may be the right cure for a chronic tendency to a deficiency of effective demand. But they are not capable of sufficiently rapid organization (and above all cannot be reversed or undone at a later date), to be the most serviceable instrument for the prevention of the trade cycle.

    Quick Hits:

    Posted in Ongoing Priorities [slideshow_deploy]

    38 Responses to Morning Bell: A Trillion Dollar Bridge to Nowhere

    1. JJSMSL in vt says:

      I think,that we should find out the names of everyone who crafted this original bill, which items they were individually responsible for trying to steal out of the pockets of Americans, and have them removed from office because they are theifs disguised as our government officials, people….. they are representing YOU!is this who you are? just like geitner, holder rangle, and delay, what in God's name are we letting be done to ourselves!!!!!!!!!!!!! My grandfather fought in ww2 and i can guarantee it wasnt for the road this nation is on, i am sure they fought and sacrificed with a completlye different vision of what they were saving and passing to us. what a disgrace and what a dishonor to them and to our beautiful gift we have inherited.

    2. michael montgomery/n says:

      what if the chinese won't lend the money? has anyone in power , given that some thought?

    3. Meggie from Jacksonv says:

      Enough about the problem what can we, who love this country, do to stop it? The Senate & Congress do not listen to us, that was proven with the last stimulus/bailout trillion, the previous administration did. Over 80% of Americans were against Federal bailout. Did they listen? NO!This is more of the same; Taxation WITHOUT representation. Has anyone got constructive action we can take NOW?

    4. paula Boston MA says:

      We have to vote out all these Left leaning wackos. In Massacusetts we do not have ONE conservative in the state house or federal. ALL DEMS!! Everyone complains but nobody does anything. We should organize the Blue state citizens. Alot of us have had it.

    5. Michael in New York says:

      We are seeing the beginning of the end of our country as the idiots who voted Obama into office applaud the new era of clean government. Indeed, waste, debt, tax cheaps, this is the new government promised by the savior. Call your representative, vote no for this spending spree, and vote no for Daschle.

    6. Tom Jeffrey, St. Lou says:

      The difference between "stimulus", as in government "investment", and stimulus, as in tax cuts that enable businesses to be established and grow, is reminiscent of the Biblical injunction: give a man a fish and you have fed him for a day; teach a man how to fish and you've fed him for a lifetime.

    7. henry USA says:

      Somebody get rid of that *!@!* President. I sure didn't vote for him…

    8. Chuck Lanza says:

      If Your Only Tool is a Hammer…

      The old line goes, if the only tool you have then all the problems look like nails. This is so appropriate for what we are seeing now with the Wall Street stimulus package (StimPacK I) and now the Main Street stimulus package (StimPack II).

      The Democrats are looking for "effectiveness" in the stimulus package. In addition to getting it through quickly, they believe in the Keynesian approach based on government spending to get the economy moving. If most of the package wasn't pure pork I would believe their motives. I look at it as, if you lie to me about the largest part of the package, you'd probably lie about the whole package.

      The Republicans on the other hand are looking for efficiencies because that is what many of today's Republicans do. They do not say the package is terrible, that it is full of pork and will have a negative impact on future generations. No, they try to make it a lighter, yet very little less than terrible package. Many are light versions of the Democrats.

      There is one group that believes in looking at the efficacy of the stimulus package as written. Is it needed? The first stimulus package has by many accounts done little if anything to help the economy. If anything it has turned Americans into disbelievers in governments commitment and ability to make things better. What those of us who will hammer at the efficacy of the package want is a package that targets the ills of the economy. We lack consumer spending which has led to a loss of jobs and will ultimately bring the economy to a halt. To increase consumer spending a create jobs we need to immediately infuse money into the economy. This can only be done by putting more money in the hands of the American people. The best way to do this is through eliminating the payroll tax at 100% for six months then to gradually place it back again but never to the current economic stifling levels we see today.

      The stimulus from Americans having 50, 100 or 500 dollars or more a week to spend will have an instant and enourmous positive effect on the economy. Keeping the rate lower will have a positive long term effect and will keep the economy going in perpetuity.

      We need to have more than the Democrat and Republican hammers in our tool box, we need an American hammer which puts money immediately in the hands of America's workers and consumers.

      I am a candidate at: http://www.thevirtualcongress.com

    9. Kelly Rae, Fort Wort says:

      This is to the point of 'idio-cracy' not democracy! Why on earth is this stimulus plan including money for digital convertors? Why not just wait longer before they get rid of the analog signal? Simple solution to save a lot of money this country just doesn't have! And why is our government so quick to borrow foreign money? We already have a big portion of our economy dependent upon foreign currency and import which has escalated the job loss and economic failure of this country. Again and again our congress is focusing so much wasted time and energy on the "PROBLEM", where are some solutions? So far I have seen nothing but a lot of people being nominated for positions, which have at best, questionable backgrounds! There in lie more problems, not solutions.

    10. atlantalisa says:

      LOL — Yeah, You voted him in under the idea of change…. Is this really a shock to you all? C'mon, with the crooked people he is putting in "team Obama" AKA- the current administration – to this so called stimulus package that will not help us at all but it will only further his marxist agenda.. He said it the other day — "I won" — I am sure you can cry out all you want but nothing will keep him from getting his way! I agree with an above comment — find out who, other than our favorite crook Ms. Pelosi crafted this bill that is on it's way to stealing our money, and our way of life – find out who they are and make darned sure they don't get re elected! Hold on it's going to be a ruff ride!

    11. Michael R. Bond, Elw says:

      Is there anyway for average Americans to have a say in this bill? As one person wrote, EVERYONE THAT CRAFTED THIS PORK BILL SHOULD BE VOTED OUT OF OFFICE! I love my country BUT it is going SOCIALISM as a runaway train.

    12. Michael R. Bond, Elw says:

      Is there anyway for average Americans to have a say in this bill? I love my country BUT it is going SOCIALISM as a runaway train.

    13. Greg Doyle, Moreno V says:

      I disagree with the title of this very well-written article. For, as the government intrudes more into the lives of its citizenry through taxation the "Trillion Dollar Bridge" is, in fact, leading to somewhere. Unfortunately, those who do not vote in the interest of "the public good" (or who have ignored history in the 20th Century) may soon discover why this bridge is headed for a Marxist-socialist model.

      The fix by the flag-burners of the 60's is in place and we all are going to pay dearly for it.

    14. Dennis A. Social Cir says:

      It is time to throw all in Washington out with the dish water and start over. I can not see why everyone is so suprised, this is the way with a socialist "guvernment", let the few work and give to those that don't.

      IT'S TIME TO WAKE UP AND SEE WHAT WAS ELECTED TO OUR GOVERNMENT!!!!!!

    15. John E Rosina, Borde says:

      Wow! It took GWBush and company 8 incompetent years to drive this country into the ground, reducing taxes for the repubs and, mostly the wealthy, while enriching Red China with incessant borrowing. Obama's asking us to foot our own bill – and you folks can't stand the thought of this inconvenience.

      As a Vietnam Vet it always tickles me how quickly we American's say "we'll die for our country". How about paying our own way for the sake of our children's future. That's what the WWII generation did. And they accomplished this while heavily Unionized and we were a debt free nation.

      Even Ron Reagan was a Democrat head of the Actors Union back then! How bad can it hurt.

      A decent pay rate allowed working class American's to spend more and grow our own economy. It's not the TAX rate – it's the Synthetically depressed pay scale foisted on us by "US driven Global E-con-job (Economy) which is the greatest slight of hand ever foisted on we dumb American's by our owners.

      Still don't buy that! Try this one on for size; America lost 2.5 million jobs last year and granted 1.5 million workers permits to foreign imported workers. Whose work did they perform? That Nerd, Bill Gates. Boy – he gets a free moral pass huh!

      My deepest sorrow is that we continue to listen to totally biased "infotainment" talking heads as if they were any more truthful or concerned than our jaded politicians. We need NEWS ala Cronkite or Morrow or Winchell! Rush Limbelch – Olberman – O'Really, Maddow, Hannity and Toothless Combs – all cash big paychecks by projectile vomitting feel good positions of no consequence onto our Airways. Those who cannot do – preach!

      If you cannot lead – follow, if you cannot follow, get the hell out of the way. Eight years of Constitutional and Economic Bankruptcy deserves immediate action and a little less synthetic piety. We all need to pony up!

      PS: Heritage has as much as said many of the things in this bill eventually should be dealt with. Give this a shot. We gave the last administration a wide berth and look where they took us. How much worse could it be. Make no mistake – Obama said going in it wouldn't be easy – and we all must pitch in. Nows your chance to help fix the mess Obama and WE inherited. Man-up!

    16. Dan, New Mexico says:

      Has anyone looked into the future at the hyper-inflation that will occur because of the money that the fed will print and dump into the economy? This isn't money that we are borrowing the fed will print the money and the value of the dollar will fall off a cliff! People naturally will horde money till confidence returns and the economy ticks up then we will see all of this money dumped into the economy!

    17. Schulz, Washington, says:

      Come on people, every one of the listed so called "pork" examples is a needed push that will indeed help people outside our little "cocoon o'safety" here in the beltway.Let me work through the list:

      Amtrak moves people, real people need help with childcare,the complaint about NEA is just mean,global warming research leads to jobs in the private sector, you complained when there was no support for coal, only rich people deserve TV, new government cars will be more fuel efficient, modernized government buildings will also be more efficient and 8 years of deferred maintenance must be made up for, Smithsonian won't attract many tourists if it falls down, Agriculture is one of our most important and most backward industries,flu and STD's lead to lost productivity, after-school programs help in educating the next generation in a country with some of the worst schools in the world,community policing programs have been proven again and again as positive ways to improve communities, bringing children out of poverty won't be a stimulus?,climate restoration will create private sector jobs,anyone who has dealt with social security has lost valuable time and productivity because of their outdated computer system.

    18. Bob R, Geologist, Tu says:

      I am dismayed at the new administration's desire to jump on the AGW bandwagon as evidenced by the appointment of 2 rabid environmentalists as science advisers. That is the equivalent of putting foxes in the hen house. They can't wait to begin sequestering carbon dioxide, a minute but vital (for plant growth) gas in our air. Their outright lie that a majority of scientists support AGW should have been destroyed last May by a petition submitted to the US Senate and signed by over 31 thousand US scientists. The petition (see http://www.petitionproject.org)says "There is no convincing scientific evidence that human release of carbon dioxide, methane, or other greenhouse gases is causing or will, in the forseeable future, cause catastrophic heating of the Earth's atmosphere and disruption of the Earth's climate."….. I did not get my signature in time to be on the original list but when I checked with the originators in Sep't '08, they were still getting signatures and had a backlog of 1500 that they were checking for authenticity. Undoubtedly their list has grown by several thousand. No mention of this petition has appeared in newspapers to my knowledge!!

    19. BeatDon't Stop says:

      Okay Bush and this idiot Congress have been in office the last eight years and somehow, someway the economy just sort of collapsed? The economy collapsing had nothing to do with Bush's preoccupation with two WARS and his total neglect of taking care of the American taxpayer right?

      It was Bush's ridiculous idea of this so called stimulus package giving billionaire banks what amounts to welfare and then the banks are accountable to no one and use the money to buy other banks, 50 million dollar corporate jets etc..

      I don't agree with Obamas plan either in theory none of this makes any sense. The Rebulican Party sat on its ass and allowed Bush to neglect and destroy the economy and now they havenothing to offer to fix it but blame Obama for Bush's mess.

    20. TREVOR MERCHANTBRONX says:

      I DO NOT ANY LONGER BESTOW WITH A NEW WORD AND OR ARGUEMENTS AS TO WHAT IS HAPPENING TO THIS NATION WITH BARACK OBAMA AS THE PRESIDENT . IT WAS ONLY EAR;IER YESTERDAY AFTERNOON THAT I WATCHED SENATOR THE HONOURABLE JOHN CORNYN OF THE STATE OF TEXAS ON THE SENATE FLOOR MAKING HIS USUAL BRILLIANT PROFOUND AND POWERFUL STATEMENT AS TO WHY ERIC HOLDER SHOULD NOT BE CONFIRMED BY THE UNITED STATES SENATE TO THE POST OF ATTORNEY GENERAL OF THE UNITED STATES OF AMERICA . A SHORT PERIOD AFTER DOING SO I WROTE TO SENATOR CORNYN COMMENDING APPLAUDING AN ECHOING HIS REMARKS AS HE HIS MY FAVOURITE SENATOR WHEREIN I WRITE TO HIM VERY OFTEN . WITHIN ONE HOUR THEREON ERIC HOLDER WAS CONFIRMED AS THE NEW ATTORNEY GENERAL OF THE UNITED STATES OF AMERICA BY THE SENATE BY A VOTE OF 75 TO 24 WITH ABOUT 18 REPUBLICAN SENATORS VOTING FOR ERIC HOLDER THIS IN NO WAY BECOMES AS A SURPRISE AS WHAT WE HAVE HERE IS THAT THE SENATE IS A BOYS CLUB OF THE WASHINGTON BELTWAYS . I HAD ALSO SETFORTH MY ARGUEMENTS AS TO WHY THOMAS DASCHLE MUST NOT BE CONFIRMED WITH TO THE POST HE WAS NOMINATED TO . A FEW MINUTES AGO I READ WHEREIN WITH MY GREATEST DELIGHT HE HAS COME TO HIS SENSES AND REQUESTED BARACK OBAMA TO WITHDRAW HIS NAME WHICH WAS AND IS THE ONLY CORRECT THING TO DO . HILLARY CLINTON WAS ALSO DOCUMENTED IN MY EMAIL TO SENATOR CORNYN ON MONDAY EVENING FEBRUARY 02.2009 AS TO THE UNCONSTITUTIONALITY OF HER SOCALLED CONFIRMATION TO THE POST OF THE SECRETARY OF STATE AS UNDER THE UNITED STATES OF AMERICA CONSTITUTION . UNDER THE INELIGIBLE CLAUSE OF ARTICLE 1 SECTION 6 WITH THE 27TH AMENDMENT HILLARY CLINTON AS A SENATOR WAS AND STILL IS INELIGIBLE TO BE CONFIRMED TO ANY EXECUTIVE POSITION DURING THIS PERIOD OF HER SENATORIAL SERVICE NOTWITHSTANDING THAT AS I HAVE AFOREMENTIONED THAT THE BOYS CLUB MENTALITY IN WASHINGTON BY DEFAULT WENT AHEAD AND SOCALLED DRFAT A BILL REVERTING THE IN INCREASE OF THE EMOULUMENTS INCREASE FOR THE POST OF SECRETARY OF STATE WHICH WAS SIGNED BY PRESIDENT BUSH IN JANUARY OF 2008 . YET STILL SO AS TO ALLOW MADAM HILLARY CLINTON TO GET THIS POST BY DEFAULT THEY LOWER THE PAY AS YOU MAKE CALL IT TO THE FORMER AMOUNT . JUDICIAL WATCH HAS A LAW SUIT WITH THIS UNCONSTITUTIONAL ACT AND BEHAVIOUR WITH A FEDERAL COURT OF LAW . THERE IS SO MUCH MORE HOWEVER I WILL JUST CLOSE BY MAKING MENTION OF PENNY PRITZKER THE TWO BILLION DOLLARS HEIRESS OF THE HYATTS HOTELS CHAINS DYNASTY WHEREIN SHE WAS BARACK OBAMA?S CHAIRWOMAN FOR HIS PRESIDENTIAL FINANCE CAMPAIGN AND WHEREFORE SHE GOT TENS OF MILLIONS OF DOLLARS FOR HIM BARACK OBAMA THROUGH QUESTIONABLE ILLEGAL AND UNLAWFUL MEANS MEASURES AND INDIVIDUALS . ADDITIONALLY PENNY PRITZER WAS THE PRESIDENT OF THE BANK SUPERIOR BANK FSB .ILL WHEREFORE THIS BANK WENT INTO SUBPRIME MORTGAGE FORECLOSURE ON JULY 27.2001 WITH THE SUM TOTAL LOSS OF FOUR HUNDRED FIFTY MILLION DOLLARS , THE FDIC TOOK CONTORL OF SUPERIOR BANK ON JULY 27.2001 FROM PENNY PRITZER?S MANAGEMENT . THIS INFORMATION CAN BE EASILY OBTAINED FROM THE FDIC .GOV WEBSITE .PLEASE TAKE INTO CONSIDERATION THIS WAS MANY YEARS BEFORE THE CURRENT CREDIT HOUSING CRISIS . NOW I WAS AWARE OF THIS FROM THE MONTH OF MARCH 15,16. IN THE YEAR 2008 IN THE WALL STREET JOURNAL?S SATURDAY TO SUNDAY EDITION . DO YOU KNOW WHEN WAS IT THAT THE GREY OLD LADY THE SOCALLED PAPER OF RECORDS THE NEW YORK TIMES PRINTED AND OR PUBLISHED THIS ARTICLE OF STATEMENTS OF FACTS TRUE AND CORRECT IN THE PUBLIC DOMAIN FRIDAY NOVEMBER 21.2008 IN THE NATIONAL SECTION ON PAGE A25 OF THE NEW YORK TIMES TITLED OBAMA FUN -RAISER KNOCKS DOWN CABINNET RUMORS . TO QUOTE UNQUOTE . ANY ONE IS WELCOME TO READ AND REVIEW BOTH ARTICLES IN THE WALL STREET JOURNAL OR THE NEW YORK TIMES PENNY PRITZKER WAS AND STILL IS A TAX EVADER AND CHEATER ALSO LIKE TIMOTHY GEITHNER AND THOMAS DASCHLE . MORE TO COME .KNOWLEDGE IS POWER AND THE SHARING OF KNOWLEDGE TRUTHFULLY IS EMPOWERMENT TO QUOTE .UNQUOTE .. ARE THERE ANY SURPRISES HERE AS TO BARACK OBAMA AND HIS PEOPLE . I THANK YOU TREVOR MERCHANT BRONX NEW YORK CITY TUESDAY FEBRUARY 03.2009

    21. Ozzy6900, CT says:

      The “Stimulus Plan” is just waste! All it is doing is redistributing wealth because the Left keeps referring to our present system as an “unfair distribution of wealth”. Why is it unfair? Is it because those who work get the benefit and those that do not get nothing? Sorry but the present plan is good in my book!

    22. sliver43 WI says:

      Hey Schultz from Washing Dc I see you are drinking the same Kool-Aid that your friends are, they must give it away in Washington in place of bottled water.(_?_)

    23. John E Rosina, Borde says:

      ozzy6900 wrote: The “Stimulus Plan” is just waste! All it is doing is redistributing wealth because the Left keeps referring to our present system as an “unfair distribution of wealth”. Why is it unfair? Is it because those who work get the benefit and those that do not get nothing? Sorry but the present plan is good in my book!

      Oz – I'll bet you got all lathered up when $15bn in cash was placed on pallets and loaded onto several C-130 Herkie Birds and doled out by our government with out "receipt-one" to Iraqi mullahs! Bad disrtribution of wealth – Ya Think!

      Short and Sweet; in the mid 70's the top 10% of America's wealthiest held 49% of her assets. By 2005 that top 10% held 77% of America's assets.

      You think this current economic situation is okay and I say you are short sighted and wrong!

      And it is not about the tax rate – it is about figuring out how to Globalize the Capitalist system in a way that does not suck the blood out of this countries middle and lower class. Before you get all nutty here – remember, we are the ones generated the initial American wealth that you now export and we also fight your wars.

      If that's not good enough for you, how about America's third largest export is "SALVAGE". What do you want to export next – my teeth!

      PS I am not a Liberal Leftie and I sure as hell ain't no Neo Con. I'm a near extinct middle of the road American factory assembly line worker.

      Those political titles only serve the politicians and talking heads in the "Infotainment-News corporate media and pidgeon hole evewryone else into letting them accomplish not a damn thing. Oz? You better off than 8 years ago? Only if your one of the 10%.

    24. H L PUCKETT VA , says:

      BY THE WAY I DID NOT VOTE FOR MR, OBAMA ,EVERYONE HAS A COMMENT, BUT WHAT ARE WE GOING TO DO ABOUT THE MADNESS ,AND THE LIBERAL GANGSTERS IN OUR GOVERNMENT, THE ENTIRE TRILLION DOLLAR DEBT PLAN SHOULD BE ABORTED.THERE SHOULD NEVER HAVE BEEN ANY KIND OF BAIL OUT.WE CAN TALK UNTIL IT IS ALL OVER AND NEVER GET ANYTHING DONE, ACTION IS NEEDED, ANY THINK TANKS OUT THERE WHO HAVE ANY WORKABLE IDEAS SPEAK UP,NOWS THE TIME TO ACT!!!!

    25. H L PUCKETT VA , says:

      I WOLD LIKE TOADD TO MY RECENT COMMENT, I HERE SO MUCH ABOUT WE BEING A DEMOCRACY, WE ARE NOT A DEMOCRACY BUT A REPUBLIC, DEMOCRACY IS NOTHING BUT MOB RULE LOOK AT OUR CONSTITUTION.

    26. N.J. says:

      Well, the problem with permanent tax cuts that lower the top marginal rate is that historically, there is no evidence that they have ever stimulated the economy.

      In deed, every lowering of the top income tax rate was shortly followed by some economic catastrophe. Three tax cuts in the 1920's, the last and largest in 1925, was followed by the Great Depression, the smaller lowering of the marginal rates in the 1960's led to a decade of stagnant economy, the Reagan tax cuts did not produce the mass reinvestment of the money from those cuts into businesses, and left Mr Stockman and Reagan scrathing their heads, while the last round of tax cuts has led us here, because rather than invest in the stock market, those who got he largest tax cuts invested in mortgage securities.

      The main issue is that those who call for tax cuts, tend to do their best to confuse the less educated public on the difference between profits and creation of wealth, which are two distinct things.

      The bottom fifty percent of wage earners earn less than 30,000 dollars a year, but as a group,they are extremely productive. Most of these low income earners produce ten times their wages for their employers. This ratio tends to get much lower as you climb the income scale.

      Yet this bottom 50 percent's share of the nations wealth is about zero. Either they own nothing, or their debt exceeds their assets.

      This has nothing to do with hard work. A Wal Mart cashier works as hard as an information technology worker, and for each dollar they earn, seem to create more profit for their employers

    27. Gwynne Galante New Y says:

      This so called stimulus package is nothing more than a spending spree by our majority lead Liberal Congress. There is little in this proposal that will positively affect the American economy.Where is the CHANGE???? The only long termed affects this Stimulus will have is to bankrupt future generations.This country was built by free thinkers who believed in less government and free enterprise. Soon we'll have a government that makes all our decisions for us. Where will our FREEDOM be then? Wake up America this is as close to the end of all this Country stood for, as you can get……

    28. Sandy L Young says:

      This isn't a democratic or republican issue. This is a RED, WHITE & BLUE issue. As an American woman who loves my country, I'm sick at heart to see the endless parade of taxes and restrictions that have come full circle since the Boston Tea Party. Unlike those early heros of the republic, we sit and whine about what the government is doing to us. WE gave them that power. "We the people" live in our own tiny universe. "We the people" are to busy to vote, to busy to pay attention. I'm ashamed. As a nation, we are appear to the world without pride or love of country. We're to selfish to look beyond ourselves. I pray that people will wake up to the power that's still in all of our hands.

    29. AJ from California says:

      I hope we get the stimulis bill we need or maybe we don't need it at all. I hope things will turn around soon and folks can get back to work.

    30. John E Rosina, Bordentown, NJ 08505 says:

      N.J. wrote, among other very common sense things: “The main issue is that those who call for tax cuts, tend to do their best to confuse the less educated public on the difference between profits and creation of wealth, which are two distinct things.”

      Halelujah. We have a winner! I am even a little more proud of New Jersey (assuming the NJ thing).

      At 61 I am astonished at just how many otherwise well educated people have no clue on the difference between Profit and Wealth Creation. And far too many of them actually work on Wall Street!

      Wealth creation through the “value added” work of producing iron, coal, oil, manufactured durable goods, AMERICAN CARS, tanks, planes, agricultural products, green energy technology PRODUCTS, feeds the economy in a real and substantial way. It puts real food onto real tables and fuels growth.

      Profit from mortgage back securities, investment Instruments (what – violins) and derivitives (think of dust accumulation here) produce not ONE OUNCE of new food for anyones table. They are just currency multipliers. Same as printing more money for this StimPack that has everyones undies in a bunch. Ron Paul has rightfully been screaming about the money printing presses long before Bail Out 1 or StimPack 2 and for just this reason. Why print? To line billionaires synthetic pockets and service our debt to China, Japan, Canada, and England, among others.

      Wall Street has taken the real food middle class American’s have generated through years of hard value added labor and devised these little confusing things like “junk Bonds” and Hedge Funds
      to swipe that food from MY table and suck the vitality out of once solvent and strong American Industries.

      Basically, they take a pound of baloney and slice it soooo thin that when they are through you have lunch meat with only one side, and it belongs to them. The super rich are not interested in our US economy – they’ve already exported the big ticket working class items over seas.

      Whacking taxes is rich man speak for screw you “Joe the Plumber” and , like NJ pointed out, these Hedge Hog types will take the tax break and run offshore with it. It’s failed every time because it is a repeatedly proven failed policy.
      If they are so good with money, why do they call them “Brokers”. Have to ask Maddoff!

      When a middle class income is strong enough to pay the bills and support healthy descretionary spending, you’ve got a robust economy. And 20% on $65,000 generates a lot more national treasury (taxes) than 20% on $30,000 per year. Try rolling that around in your conservative brain a minute.

      NJ was so good I’ll quote him again for the last word.

      “The bottom fifty percent of wage earners earn less than 30,000 dollars a year, but as a group,they are extremely productive. Most of these low income earners produce ten times their wages for their employers. This ratio tends to get much lower as you climb the income scale.”

      I repeat – If they are so good with money, why do they call them “Brokers”.

    31. Ardell Nagle Rexburg says:

      There is nothing in the bill that will help the economy. It is up to us to make it well known that we disagree with the plan. Where are all the protesters who protested about all the money that Bush was spending on the war. We are about to spend more money than are two wars combined.

      The only thing that might help is repair roads and bridges. But when comes to distributing the money will it be fair.

      What it will take is start to create new jobs ourselves. There are alot of creative people out there. We need to stop the need for government to bail us out. We use to be a country who could stand on their own. Countries were investing in us, now we are having to borrow money from them.

      We need to find something that will get their attention. We need to say no.

    32. John Wirtz, Las Vega says:

      Accountability!!! My negative inputs (about the stimulus) to Nevada Senator/Representatives were answered with what amounts to, 'We hear you but we know better than you (the 'people')'. Apparently most of the 'people' are against stimulus yet "Government for the People, by the People" chooses to ignore 'us'.

      How do 'we' regain control of 'our' Ship of State? The congress operating against 'our' will amounts to Mutany of the Officers. We must gain control and stop this bankrupting of lives, livelyhood, and future. Let's stop the Mutany and regain control of our Ship!

    33. Pingback: Passage Of The “Stimulus” Bill Will Be A True “Lipstick On A Pig” Moment | QandO

    34. Lori-Mass says:

      Just like the millions who attended the swearing in of the President we should all stand in front of the White House with our bail-out signs. I don't understand why they keep telling us to spend money we all already over spent our means. Help us remove our bad assets then we can spend again and hopefully in a smarter way. P.S I voted for him and still believe his desire to change Washingtons way is true but he will meet resistance from all the old-timers set in their ways . I am sure their retirement funds did not take a hit like mine and yours. We need to organize a Million people March to fight to save our future and our childrens future.

    35. Cmiller Colorado says:

      Was it not a month ago that Mr. Obama was on national TV telling us that we need to turn the tv off and spend time with our children,and be involved with our children, Now he wastes time with funding,and expanding the deadline for conversion.HMMM.

    36. ann sage says:

      This spending bill is much like a women who is so deep in debt that she goes out on a spending spree to make her self feel better! Is there no one who can find a true solution to this very very bad problem? I vote we fire washington and hire some slick company to run the country! I would trust them more!

    37. Pattie says:

      Where is the help for the people that will be paying this outrageous amount of money long before I die? We have NEVER accepted help from the government, and probably will not, but we are simple folk running out of resources.

    38. Jude Billings says:

      Conservative Americans, get ready to speak out on snuffing out 'truth in conservative radio' which has helped inform those who are just now finding out what and who they voted for.

      Prayers may help also.

      Jude

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