18
   

Despite a bipartisan effort...

 
 
Cycloptichorn
 
  1  
Reply Tue 3 Feb, 2009 01:41 pm
@maporsche,
maporsche wrote:

Took the time. Didn't help.


So you admit that you've bought the spin, and don't care about that fact?

Cycloptichorn
engineer
 
  1  
Reply Tue 3 Feb, 2009 01:48 pm
@slkshock7,
slkshock7 wrote:

It's more than 50 million out of 800 billion...it's more like 710 Billion of the 800 Billion is for pork...according to the Wall Street Journal

I read that article and it made some good points, but it also made some really bad ones. Spending of any sort that stays in the US economy stimulates growth. Someone has to provide the goods or services being purchased with that spending, so jobs are created and the holders of those jobs then go forth and spend again. One example from the article:
Quote:
Another "stimulus" secret is that some $252 billion is for income-transfer payments -- that is, not investments that arguably help everyone, but cash or benefits to individuals for doing nothing at all. There's $81 billion for Medicaid, $36 billion for expanded unemployment benefits, $20 billion for food stamps, and $83 billion for the earned income credit for people who don't pay income tax. While some of that may be justified to help poorer Americans ride out the recession, they aren't job creators.

Of course they are job creators, just not directly. I'm really surprised the WSJ would miss that obvious point.

The entire philosophy of this government bailout package is that the economy thrives on various groups providing goods and services to each other. If people get scared and reduce buying, then vendors lose business and lay off workers. People get more scared and reduce buying further and you get into a death spiral. If the government spends to make up for private spending, they can break you out of the spiral. That means as long as the government is providing money where it will acutally be spent, it will stimulate the economy. This is why tax cuts won't work against the death spiral. If you send me a check for $1000 and I'm convinced that times are really bad, I'm not going to go out and spend it, I'm going to save it or reduce my debt. Great for me, but of no benefit to the economy. This is different from a slowdown where I'm generally confident and might go out and spend that tax cut. Basically, any government spending in this package that will be spent is stimulus whether it results in direct employment or indirect employment. Providing money to the poor: Yes, they will spend it since they have no choice. Providing money to the middle class: No, they will probably hoard it or use it to reduce debt. Providing money to the rich: No, the extra money will not significantly affect their spending habits. Of course, while this is good economics, it is bad politics; transferring wealth, etc. I can see how the Dems are going to be bashed for funding their pet programs. But it is still stimulus.
0 Replies
 
JTT
 
  1  
Reply Tue 3 Feb, 2009 02:43 pm
@genoves,
Quote:
"...businesses decided to wait Roosevelt out, hold on to their cash, and invest in future years. Yet Roosevelt retaliated by introducing a tax--the undistributed profit tax--to press the money out of them. Such forays prevented recovery and took the country into the depression within the Depression of 1937 and 1938"


What were these businesses doing holding on to profits in a time like the Great Depression? So, it wasn't Roosevelt that was preventing a recovery, it was the "businesses".
0 Replies
 
JTT
 
  1  
Reply Tue 3 Feb, 2009 02:47 pm
@genoves,
Quote:

Like most Europeans, he [Nimh] is a hard left Socialist.


I haven't noticed that at all. I'd say it's more that you have a dismal understanding of just what the meaning is of these various political terms.

Quote:
My great-grandfather was a hard left Socialist. Stalin sent him to the gulag!


Stalin too was a bit of a "hard left Socialist". Maybe it was simply because your GGF was a common criminal.
Advocate
 
  1  
Reply Tue 3 Feb, 2009 02:51 pm
It is quite clear that the right is marching to the orders of Limbaugh. That is, they are opposing everything put forward by the Dems, to hell with the country.
0 Replies
 
JTT
 
  1  
Reply Tue 3 Feb, 2009 02:53 pm
@genoves,
Quote:
Most white people did not vote for President Obama.


Given the alternative was McCain, I think that speaks strongly as to just how established racism still is in the hearts and minds of many Americans.
0 Replies
 
maporsche
 
  1  
Reply Tue 3 Feb, 2009 03:07 pm
@Cycloptichorn,
No, I don't admit that.

I just don't think that any criticism of WHERE the money is spent should be considered spin (especially by interent posters on a web-forum).

Quote:
But there are more serious critiques of the American Recovery and Reinvestment Act " from more serious critics. The most compelling"ffered by Clinton administration budget chief Alice Rivkin and Democratic senator Ben Nelson as well as principled conservatives like New York Times columnist David Brooks and Reagan administration economic adviser Martin Feldstein"is that an $800 billion stimulus package ought to be all about stimulus. They're not the Hooverish partisans whining that the stimulus plan has turned into a "spending plan," as if government spending was a preposterous strategy for jump starting the economy. They're concerned with how the money would be spent. They're OK with a short-term injection of cash, but they don't think this is the time for long-term government investments. They want to focus on fighting the recession, and they don't see Pell grants, renewable energy subsidies, health-care technology and Head Start-much less the beautification of the Mall, contraception for low-income women or additional funding for the arts-as the best way to do that. "Many of them are worthy, but we can have that debate another day," Brooks argues. (See photos of Barack Obama's Inauguration.)
Cycloptichorn
 
  2  
Reply Tue 3 Feb, 2009 03:33 pm
@maporsche,
maporsche wrote:

No, I don't admit that.

I just don't think that any criticism of WHERE the money is spent should be considered spin (especially by interent posters on a web-forum).

Quote:
But there are more serious critiques of the American Recovery and Reinvestment Act " from more serious critics. The most compelling"ffered by Clinton administration budget chief Alice Rivkin and Democratic senator Ben Nelson as well as principled conservatives like New York Times columnist David Brooks and Reagan administration economic adviser Martin Feldstein"is that an $800 billion stimulus package ought to be all about stimulus. They're not the Hooverish partisans whining that the stimulus plan has turned into a "spending plan," as if government spending was a preposterous strategy for jump starting the economy. They're concerned with how the money would be spent. They're OK with a short-term injection of cash, but they don't think this is the time for long-term government investments. They want to focus on fighting the recession, and they don't see Pell grants, renewable energy subsidies, health-care technology and Head Start-much less the beautification of the Mall, contraception for low-income women or additional funding for the arts-as the best way to do that. "Many of them are worthy, but we can have that debate another day," Brooks argues. (See photos of Barack Obama's Inauguration.)



Yeah, but the problem is, all those things listed have a stimulus effect on the economy.

Renewable energy subsidies encourage the production of new power plants, this creates jobs and industries.

Health care technology has to be purchased, once again this injects money into our economy if we purchase it from domestic sources.

Contraception for low-income women saves the states 400 million dollars, which they can spend on other things. This is a misunderstanding on the part of Brooks and others.

Beautification of the mall - who do they think is going to perform that? Magical aliens?

If the goal is to inject money into the economy, as a stimulus, what does it matter that some of that injection is in the form of projects that Republicans don't like?

Cycloptichorn
maporsche
 
  1  
Reply Tue 3 Feb, 2009 03:37 pm
@Cycloptichorn,
So you'll admit that Obama is using this stimulus package to promote and expand programs that democrats want to pursue outside the normal congressional process.

Fine, that's all I wanted to point out.

I think it's wrong to do that, and I'd was pissed when Republicans did it during the Bush administration, but if you're cool with sinking down to that level, then cool.
Cycloptichorn
 
  1  
Reply Tue 3 Feb, 2009 03:51 pm
@maporsche,
maporsche wrote:

So you'll admit that Obama is using this stimulus package to promote and expand programs that democrats want to pursue outside the normal congressional process.


Well, Obama didn't write the bill; it's more accurate to say 'Pelosi.'
Quote:

Fine, that's all I wanted to point out.


Nice work.

Quote:
I think it's wrong to do that, and I'd was pissed when Republicans did it during the Bush administration, but if you're cool with sinking down to that level, then cool.


'Sinking' to what level?

I don't think the Dems are doing anything wrong.

You just don't agree with how the stimulus is being spent.

I think this is mostly b/c you don't understand how the bill is supposed to work, or what 'stimulus' means.

I also don't understand what 'outside the normal' process means. If you know anything about Washington, you'll see that what's going on right now? Perfectly normal.

Cycloptichorn
maporsche
 
  1  
Reply Tue 3 Feb, 2009 04:16 pm
@Cycloptichorn,
Cycloptichorn wrote:

I don't think the Dems are doing anything wrong.


Of course you don't, you're a die-hard Dem. You bleed blue.

Quote:
You just don't agree with how the stimulus is being spent.


I disagree with parts of it yes. And I am on the verge of disagreeing with the need for a stimulus package at all.

Quote:

I think this is mostly b/c you don't understand how the bill is supposed to work, or what 'stimulus' means.


You think wrong

Quote:

I also don't understand what 'outside the normal' process means. If you know anything about Washington, you'll see that what's going on right now? Perfectly normal.


I guess after hearing about "Change" for 2+ years, I was expecting something different. Guess we're getting "same old, same old."
Cycloptichorn
 
  1  
Reply Tue 3 Feb, 2009 04:18 pm
@maporsche,
Quote:

Quote:
I think this is mostly b/c you don't understand how the bill is supposed to work, or what 'stimulus' means.


You think wrong


No, I think I have this one correct, actually.

Why don't you explain to us how it's supposed to work? I mean, you're pretty critical of the effort, so you must have a real good understanding of the process. Right?

Cycloptichorn
Diest TKO
 
  1  
Reply Tue 3 Feb, 2009 04:23 pm
maporsche - You may be proven right, you may be proven wrong. I can't help but feel however that you've become cynical to the degree that you may need ot challenge yourself to have an open mind.

I'm sure you have your reasons for feeling cynical. I have similar feelings often, but I think if it's all you've got, then you've lost touch. I hear a lot of criticism, but what are your ideas? You don't think the economy needs a stimulus package. Do you understand why others thin that it does?

T
K
O
maporsche
 
  2  
Reply Tue 3 Feb, 2009 04:29 pm
@Cycloptichorn,
Cyclops, I don't know what in our history would make you think that I'm an idiot, but ok, let's play your little game.

The purpose of this stimulus is to create jobs through government investment.

Fine, this bill would accomplish that (we can still argue how effective it will be, or how soon it will happen, but for the sake of moving along, I'll leave it as is)


What I have a problem with is USING THIS BILL to force democratic policies through congress, WITHOUT going through the normal congressional processes. Meaning, a congressman introduces a bill that would allocate government spending for wind turbines for example. It gets debated and voted upon.

I would love to see funding for alternative energy, and fighting global warming, etc. I really just don't think they belong in this stimulus bill.

It would be similar to a Republican stimulus that gave money to expand abstinence-only sex-ed. Wouldn't that create jobs and stimulate the economy too? Yes. But it would also be (in my eyes) inappropriate social influence funding that I would hate to see happen.

The Democrats are doing this in reverse. I agree with most of these initiatives, but I disagree with how they are going about funding them.
Cycloptichorn
 
  1  
Reply Tue 3 Feb, 2009 04:32 pm
@maporsche,
Quote:

The purpose of this stimulus is to create jobs through government investment.


Is it?

I thought the purpose of a stimulus bill was to stimulate the economy. There are more ways to do this besides creating jobs. Wouldn't you agree?

Cycloptichorn
maporsche
 
  1  
Reply Tue 3 Feb, 2009 04:50 pm
@Cycloptichorn,
Oh you got me! I AM an Idiot.

I didn't even understand that the purpose of the economic stimulus package was to stimulate the economy.

Doh! (did you really expect me to spell that out? isn't it sort of obvious?)


Thanks for ignoring the entire remainder of my post. I'll limit all further conversation with you to single, 1 sentence thoughts, as to no longer waste my time.
Cycloptichorn
 
  1  
Reply Tue 3 Feb, 2009 04:53 pm
@maporsche,
maporsche wrote:

Oh you got me! I AM an Idiot.

I didn't even understand that the purpose of the economic stimulus package was to stimulate the economy.

Doh! (did you really expect me to spell that out? isn't it sort of obvious?)


Thanks for ignoring the entire remainder of my post. I'll limit all further conversation with you to single, 1 sentence thoughts, as to no longer waste my time.


Well, you got the first part wrong, so the rest was off base from that point on. There was no point in addressing it.

It isn't called the jobs bill. It's a stimulus bill. Your mistake is in assuming that the only way to do this is to create jobs. You probably think this b/c the Republicans have been going on and on on this point for a few weeks now, and you seem to take your cues for criticism from them.

Do you see now where your error lies?

Cycloptichorn
maporsche
 
  1  
Reply Tue 3 Feb, 2009 04:56 pm
@Cycloptichorn,
Ok Cyclops, what other ways will this bill stimulate the economy besides creating jobs (and tax cuts, which I forgot it include)?

And, excuse me, but OBAMA has been going on and on and on about creating jobs.

Quote:

In his weekly radio address on Saturday, Mr Obama pledged a five-tier rescue plan to create jobs by melding traditional road-building projects with massive investment in new technology and green infrastructure.


All he's talking about it tax cuts for middle class and creating jobs.
0 Replies
 
maporsche
 
  1  
Reply Tue 3 Feb, 2009 05:07 pm
@Diest TKO,
Diest TKO wrote:

maporsche - You may be proven right, you may be proven wrong. I can't help but feel however that you've become cynical to the degree that you may need ot challenge yourself to have an open mind.

I'm sure you have your reasons for feeling cynical. I have similar feelings often, but I think if it's all you've got, then you've lost touch. I hear a lot of criticism, but what are your ideas? You don't think the economy needs a stimulus package. Do you understand why others thin that it does?


I think it's important to create jobs, to the extent that this bill will accomplish that I'm thankful. I wish it strived to create jobs w/o pushing the democratic agenda, but that's just me I guess (I say this, even though I agree with much of the democratic agenda, I just think those policies deserve to be discussed and voted upon seperate from this stimulus package; it stinks of fear mongering to me)

Why I'm thinking that this package might not even be needed is that I truly fear that it will not be effective. I can tell you that almost no amount of tax breaks for example will get me to spend more money right now. I think most people are with me on this one. I'm $50,000 upside down on my home right now, getting an extra $500 this year in tax breaks will not push me to spend ANYTHING. Additionally, we're all preparing for the shoe to drop at all of our jobs. Knowing that I could lose my job tomorrow, what could possibly propel me to begin spending more money (certainly not an extra $20/week tax break)?

I think this all goes back to houses and jobs. If I weren't upside down on my home I would feel more comfortable. If I weren't fearful of losing my job tomorrow I would feel more comfortable.

What in Obama's plan will increase the value of my home or help ensure that I will keep my job?
maporsche
 
  1  
Reply Tue 3 Feb, 2009 05:27 pm
@Cycloptichorn,
The rest was NOT off base...and unrelated to the first part.

I understand why you'd prefer to ignore it though.
0 Replies
 
 

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