Pelosi is sooooo funny
- 01-29-2009, 08:58 AM
Pelosi is sooooo funny
House Speaker Nancy Pelosi says that while critics may quibble with some elements of spending in the $819 billion economic rescue plan, Democrats were willing to act — and Republicans were not.
Discussing the plan that the House approved on a strictly party line vote, Pelosi acknowledged Republican criticism that large sums of money are set aside for favored Democratic programs such as aid to education and Medicare. But she said "we are definitely stepping up to the plate to say we'll be accountable."
and even more comical "we are definitely stepping up to the plate to say we'll be accountable." Note - not that they are stepping up to the plate to BE accountable, they'll start that journey with just "saying" they'll be accountable. maybe by 2012 they'll be ready to actually be accountable.
- 01-29-2009, 10:01 AM
What is sad is much of this will have little effect but it will seem like it does.
The natural progression of a recession is too come out after everything de-leverages. It will happen regardless.
They introduce this bill, a year from now we come out naturally and people will think this actually had something to do with it.
Just think of this. About 1/10th of this is for actual infrastructure which is supposed to be the big job generator. The Big Dig in Boston cost 22 billion and at its peak only employed an extra 5k workers. Please tell me how this will create 4 million jobs?
To put this in perspective, even if the whole 880 billion were to create 4 million jobs, you are spending $220,000 for EACH job created.
Politics at its best. Its a ****in joke.For answers to board issues, read the Suggestion and News forum at the bottom of the main page.
01-29-2009, 11:49 AM
01-29-2009, 12:21 PM
01-29-2009, 12:59 PM
01-29-2009, 01:02 PM
comically if you could take out a real estate loan today on some beachfront property, it would work out quite well. the value of the loan will go down with inflation, and because there is no new shoreline made the value of the property should (over time) go up faster than inflation
01-29-2009, 03:18 PM
Who is this really supposed to "bailout", there's earmarks in this bill for an anti-smoking campaign, I mean come on.
01-29-2009, 03:21 PM
Why its supposed to create (or save) 3 million jobs over the next well errr ummm maybe 6-10 years. Thats why its critical we just pass it today without arguing about little details! Why its possible that as many as 40-50% of the new jobs created could come within the next 2 years. That could be as much as hmm reversing 3 months of unemployment claims. For more money than the entire federal budget for a year.
01-29-2009, 03:38 PM
01-29-2009, 03:43 PM
01-29-2009, 07:54 PM
01-30-2009, 09:38 AM
02-02-2009, 01:25 PM
well, does this count as Obama one-upping pelosi?
Is the package so urgent that a week of debate will ruin its effect? no, not at all. And had he wanted a quick passage he would have conferred with republicans during the writing of the bill in the first place, rather than trying to railroad it.President Barack Obama said Monday that "very modest differences" over a massive package to revive the economy should not delay its swift passage
02-02-2009, 05:01 PM
As Republicans did and do, the Democrats are trying to use this crisis to get **** passed that otherwise wouldn't have a prayer getting through without serious issues arising. As such Pelosi and Obama are no more stupid trying to pass their socialist tax and spend utopia into existence than Republicans were when they essentially turned the country into a proto police state when the Patriot Act was submitted and passed. In point of fact they're not being stupid or funny, both parties know there's no way in hell most of the crap they want to do would pass under normal circumstances when people aren't panicing. Therefore: get people to panic.
And, bottom line, this package even if stripped of all pork and so called unnecassary spending will do nothing to 'stimulate' the economy. At best it will displace private jobs on a 1:1 basis while delaying the price adjustments up and down the stucture of production that need to be made to correct for all the misused resources and bad debts that exist. In other words at best it will give people 'jobs' digging and refilling holes while prolonging the correction process which is inevitable anyway.
The real solution would be to cut government spending with an axe the size of the moon, to cut the growth of the monetary base, to cut taxes on producers and consumers, and to encourage savings to increase the pool of real loanable funds to justify some of the bull**** that's been taking place. Of course, none of that will ever happen.
02-02-2009, 05:07 PM
The real trick for the economic team (lead by the person who doesn't understand self employment taxes apparently) would be to create something around a 6-8% annual inflation rate. That by itself would likely fix the problems faster than this stimulus package. Whether by printing more money or some other artificial mechanisms, it would do more good than dropping a trillion on silliness.
02-03-2009, 12:24 AM
If I was going to borrow and spend 1 trillion dollars, I'd cut all corporate taxes, which would stimulate more private sector job growth than any amount of "infrastructure spending".
02-03-2009, 01:36 PM
The problem there is our government never cuts taxes. They defer taxes. To really cut taxesyou'd have to cut spending, which they never do.
02-03-2009, 01:39 PM
02-04-2009, 10:35 AM
As for their grasp of the concept, I think there's two schools: those that understand how badly they're screwing things up and who just don't give a ****; those who truly don't get the point that money isn't wealth, so constant printing borrowing and confiscating doesn't make society richer, it just moves **** around.
At the end of the day though we all respond to incentives, and the incentive for the government is to sell itself as a source of wealth and prosperity as opposed to the consumption machine it really is. As such all governments follow three steps toward money: they seize the mint; they seize the right to print receipts for the commodity money; they centralize banking operations and suspend redemption of the commodity. Through history every government has followed these steps in this order where possible, and where paper receipts weren't in existence they simply seized the commodity when they felt like it.
02-04-2009, 10:38 AM
definitely the debt is less a problem than size of government. I believe now we are in the area of over 21% of GDP going into government - a non-growth "industry". at the great depression IIRC it was around 3%
02-04-2009, 10:45 AM
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