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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.
The title of Paul Krugman’s column, Bad Faith Economics is very appropriate for his columns, as he argues based on the political party that is making the proposal. His New York Times column doesn’t represent serious economics, and has been shown to be as partisan as Ann Coulter.
The Repubs can’t get over It’s not their show anymore. Thanks W !
ENOUGH pork to buy EVERYONE a $10 happy meal.
#52 Brain washed much?
Short-term this bill will help me. Ive been unemployed since December (Layoff) and still dont have health insurance. I couldn’t afford the $680 a month for COBRA but this bill subsidizes COBRA for laid off people from Sept 2008 to Dec 2009. Rather than pay $680 mth, I will only have to pay $340. Still expensive but better than no insurance at all.
Long-term will this help me, probably not. The more we add to the national debt the more it will hurt us in the future.
#65–monkeyboy==do you/your family have immediate healthcare needs? Lots of people go bare and rely on emergency room just for care that can’t be avoided.
If you do get cobra with existing conditions, beware because if you are a day late in your monthly payment, you will get dropped even though there is supposed to be a warning period.
Its cut throat out there.
@bobbo,
My wife and I are healthy in a sense that we do not goto the doctors except for yearly checkups. We do have preexisting conditions, which caused us to be declined by 3 major health insurance companies. Its a shame that only people who have a clean bill of health can get insurance.
As for COBRA dropping you for a late payment, I pay my bills a week in advance.
The problem with people like Mr. Commiefusion is he believes in the false left right paradigm. Republican vs Democrat is modern American Mythology.
The hypocrisy is highlighted in this article.
How Will Obama’s Deficits Be Financed?
http://vdare.com/roberts/090212_obama.htm
The second Revolutionary War is on the Horizon.
Some states are finally getting some brass.
http://gencourt.state.nh.us/legislation/2009/HCR0006.html
Will you be lead to a FEMA death camp or fight for Liberty?
I’m not sure if it makes sense. Economies go through cycles and recession is part of the cycle. I read a good article on the history of cycles at
http://www.recessioninfocenter.com
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. Computers, dumbasses, computers. It was the early to middle eighties, the IBM PC, the Apple II and MacIntosh personal computers, along with software like Lotus 123, Dbase and Wordstar that revolutionized business productivity. The tax breaks may have had a minor effect in helping businesses to acquire them, but it was the “computer revolution” that did the heavy lifting. Also, better computer controlled automation in industrial applications had a large and expanding effect as well. You idiots ought to know better than believe a damn thing politicians and their spin doctors say.
#68 Stars & Bars.
That New Hampshire link is awesome!
# 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?
#70 Perfect nickname.
#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
#69, Confederate Traitor,
The problem with people like Mr. Commiefusion is he believes in the false left right paradigm.
Commie? Was that supposed to be an insult? That is so typical right wing nut attitude.
Actually the right-left wing political spectrum nicely defines and explains political positions. The easy part for a Leibertarian though is they think they can deny they follow either. A very similar tact to the Nazi Part calling themselves a Socialist Party while being extreme right wing.
The second Revolutionary War is on the Horizon.
Yup. A traitor. Sedition and rebellion against the State is a Capitol Offense. The backwoods militia are too patriotic to their three point swastikas to really care. They just hate that “mudpuppy” sitting in the White House.
Will you be lead to a FEMA death camp or fight for Liberty?
FEMA Death Camps? Ha ha ha ha ha
Geeze, you are rich. Is that your rallying cry?
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.