850 Billion Dollar Stimulus Package

Too late, they already decided to take our billions and let billion dollar corporations borrow their way out of debt. We're just trying to think of a better way for them to have committed the 850 billion. A way that may have had a more positive effect and get paid back. You know of any lawns or floors these corporations can take care of to pay it back?

 

I guess I'm just ignorant to the ways of big time finance, but where did all of the money these banks and big time mortgage companies go? If I have $1500 in my checking account and pay my house note, I know the money leaves my account and goes to my mortgage holder. When the banks lose billions of dollars, where does the money go? Did another bank or banks somewhere else get super rich or did the money get lost in an electronic void?

Sorry if this seems like a stupid question, but I honestly don't know. Does anyone?

 

My semi-objective view is that the president took 4.5 days to sign an 1100 page document. a document none of these hacks who voted it in, much less the president, had time to read. Much less evaluate. At least I read over some of it, even w/o a say.

it's true objective seems to be draining the wealth out of the private sector and using it for government preferred projects and activities. more bureaucracy and implementation of programs that will be here long after anyone of those responsible for it will be in office.

if any 'one' of us regular stiffs here can see anything in this bill that will significantly impact our working class families, Id like to know. It seems aimed at helping a very thin slice of the population. it looks like a political payoff bill to me.

the vast majority of the tax cuts goes to people who dont pay taxes. these are not tax breaks, they are tax credits--ie handouts.

However, it is capital formation(investing in private businesses) that expands jobs. if there were significant, across the board (unlike GWB), incentive-laden tax cuts, we wouldnt have to be worried about throwing all this money to bail out the banks. the money injected through the taxpayers would create the very liquidity they are attempting to manufacture.

Your average taxpayer upon receiving said credit would:

A)Put the money in the very banks this bill is attempting to bail out. Instead of foolishly printing trillions and handing it to them as they see fit.

B)Put the money in the economy, ie, on something like a car or house that these ridiculous programs are attempting to bail-out.

this bill is backwards since free markets do not work in reverse order; yet this is its veiled attempt.

the economy might survive in spite of it but its going to be be a pretty significant setback in the meantime.

This bill isnt about us. it isnt about jobs and it isnt about the health of the economy.

Its about everything else that I hoped it wasn't; more government and more control over private industry.

Less freedoms with more govt dependence.

4 billion to ACORN while cutting 10% of the military. theres your priority hierarchy in a nutshell.

 

Tirk, Acorn isnt getting 4 billion, thats no where in the plan, just thought you should know that.

 

tirk, you are, sadly, absolutely correct. The bottom line is that things are going to get much worse before they get better. With an estimated 10 million more foreclosures over the next 6 months, the housing market is going to continue to kill any recovery. President Obama's housing plan unveiled yesterday is nothing more than a big smoke screen. It will be too little too late. The banks are so short sighted in this matter they can't see the long term benefits for taking the short term losses. They would rather foreclose on people, letting these homes sit empty, than work with the current homeowner.

 

you're right. they changed the wording but its there, make no mistake.

ACORN given 4.19 BILLION pork in Stimulus package ...

for "neighborhood stabilization activities"

 

I still disagree, I dont see that title anywhere in the document. I have been over just about every spending program in it.

I do see Community Development Fund and that is 1 billion, not 4 or 5.

 

Actually, the housing plan, unlike the pork, err,stimulus plan demonstrates a modicum of thought and foresight.

http://politics.theatlantic.com/2009/02/the_good_and_bad_in_obamas_housing_plan.php

 

ACORN isnt getting the money directly but they are the only entity who meets the criteria to bid on the projects. Pretty much the same thing. Its a classic hood wink.

 

Prove it!

Post the criteria , then post ACORNs credentials that meet the criteria, otherwise is just an unfounded rumor.