House OKs $819 billion economic stimulus plan
01-30-2009, 09:02 AM
#11
Administrator
Thread Starter
Join Date: Jul 2001
Location: Stuart, FL
Posts: 24,416
Originally Posted by 1988RedT2' post='915696' date='Jan 30 2009, 07:58 AM
Sure. Let the banks fail. When the dust settles, pick up the pieces. The govt is trying to prop up a corpse and tell us everything's fine, but sooner or later, the whole stinking mess is going to fall apart.
All of this is going to make the pain worse and it's going make it last longer. Just like 1988REdt2 said, the insolvent business's have to fail, the bad debt has to be written off and we have to go from there, it's going to happen anyway, the only thing this is going to do is smack us with inflation, make it much harder to dig ourselves back out. This country is bankrupt, making it's dollar useless is going to help it one bit.
01-30-2009, 09:09 AM
#12
Administrator
Thread Starter
Join Date: Jul 2001
Location: Stuart, FL
Posts: 24,416
<object width="425" height="350"><param name="movie" value="http://www.youtube.com/v/lNS8IY_Td14"></param><param name="wmode" value="transparent"></param><embed src="http://www.youtube.com/v/lNS8IY_Td14" type="application/x-shockwave-flash" wmode="transparent" width="425" height="350"></embed></object>
01-31-2009, 05:24 PM
#14
Super Moderator
Join Date: Apr 2002
Location: VA
Posts: 2,532
Hey, Phins! What do you think of this Sheila Bair?
http://finance.yahoo.com/news/FDIC-chairma...f-14216496.html
http://finance.yahoo.com/news/FDIC-chairma...f-14216496.html
01-31-2009, 07:04 PM
#16
Super Moderator
Join Date: Apr 2002
Location: VA
Posts: 2,532
Originally Posted by Maxt' post='915823' date='Jan 31 2009, 07:14 PM
Why not just suspend certain taxes for a few months, let the money flow without the hand of the government involved, let people spend the money themselves. I thought that was the American way?
Suspend taxes? No government meddling? What are you? Some kind of radical?
01-31-2009, 07:56 PM
#17
Administrator
Thread Starter
Join Date: Jul 2001
Location: Stuart, FL
Posts: 24,416
Originally Posted by 1988RedT2' post='915820' date='Jan 31 2009, 06:24 PM
Hey, Phins! What do you think of this Sheila Bair?
http://finance.yahoo.com/news/FDIC-chairma...f-14216496.html
http://finance.yahoo.com/news/FDIC-chairma...f-14216496.html
Sounds like she has something decent to say, unfortunately nobody gives a **** what the FDIC charimen has to say
01-31-2009, 10:41 PM
#18
Administrator
Thread Starter
Join Date: Jul 2001
Location: Stuart, FL
Posts: 24,416
You gotta love this, thanks to the WTO we are not even allowed to spend that money here on american ****, other nations are pissed we're doing a "buy american" campaign. **** YOU WTO.
http://www.washingtonpost.com/wp-dyn/conte...9013101895.html
http://www.washingtonpost.com/wp-dyn/conte...9013101895.html
02-03-2009, 02:12 AM
#19
Senior Member
Join Date: Nov 2001
Location: Ames, IA
Posts: 4,773
Originally Posted by 1988RedT2' post='915696' date='Jan 30 2009, 06:58 AM
Sure. Let the banks fail. When the dust settles, pick up the pieces. The govt is trying to prop up a corpse and tell us everything's fine, but sooner or later, the whole stinking mess is going to fall apart.
Tax cuts
*
Payroll-tax holiday: $99 billion
*
Expanded earned-income tax credit: $25 billion
*
Tuition tax credit: $10 billion
*
Business expensing tax breaks: $90 billion
*
Renewable-energy tax credit: $20 billion
Relief
*
Expanded unemployment insurance: $42 billion
*
Health insurance for unemployed: $40 billion
*
Expanded food stamps: $20 billion
*
Housing assistance: $11 billion
*
Supplemental Security Income payments: $4 billion
*
Welfare: $3 billion
Infrastructure
*
Highways: $30 billion
*
School renovation: $20 billion
*
Health information technology: $17 billion
*
Transportation projects: $16 billion
*
Water projects: $8.4 billion
*
Military and V.A. construction: $7 billion
*
Accelerated deployment of broadband: $5.6 billion
Help for state and local governments
*
Medicaid cost sharing: $87 billion
*
State grants: $79 billion
*
State and local bond tax credit: $42 billion
*
Community development: $5 billion
*
Rural development: $4 billion
Energy efficiency
*
Federal energy-efficiency projects: $22 billion
*
Energy-efficiency grants: $18.5 billion
*
Smart electric grid: $11 billion
*
Renewable-energy loan guarantees: $8 billion
Human capital
*
Education programs: $29 billion
*
Pell grants: $18 billion
*
Job training: $4.6 billion
*
Scientific research: $3 billion
*
Payroll-tax holiday: $99 billion
*
Expanded earned-income tax credit: $25 billion
*
Tuition tax credit: $10 billion
*
Business expensing tax breaks: $90 billion
*
Renewable-energy tax credit: $20 billion
Relief
*
Expanded unemployment insurance: $42 billion
*
Health insurance for unemployed: $40 billion
*
Expanded food stamps: $20 billion
*
Housing assistance: $11 billion
*
Supplemental Security Income payments: $4 billion
*
Welfare: $3 billion
Infrastructure
*
Highways: $30 billion
*
School renovation: $20 billion
*
Health information technology: $17 billion
*
Transportation projects: $16 billion
*
Water projects: $8.4 billion
*
Military and V.A. construction: $7 billion
*
Accelerated deployment of broadband: $5.6 billion
Help for state and local governments
*
Medicaid cost sharing: $87 billion
*
State grants: $79 billion
*
State and local bond tax credit: $42 billion
*
Community development: $5 billion
*
Rural development: $4 billion
Energy efficiency
*
Federal energy-efficiency projects: $22 billion
*
Energy-efficiency grants: $18.5 billion
*
Smart electric grid: $11 billion
*
Renewable-energy loan guarantees: $8 billion
Human capital
*
Education programs: $29 billion
*
Pell grants: $18 billion
*
Job training: $4.6 billion
*
Scientific research: $3 billion
Isn't this completely separate from the auto/banking industry crap?
02-03-2009, 06:00 AM
#20
Senior Member
Join Date: Feb 2003
Location: Calgary
Posts: 564
Originally Posted by 1988RedT2' post='915828' date='Jan 31 2009, 06:04 PM
Suspend taxes? No government meddling? What are you? Some kind of radical?
And then they F'd it up.. http://www.cbc.ca/canada/saskatchewan/stor...ralphbucks.html
The problem with large scale infrastructure is the scope of the work tends to go large multinationals who move money to jurisdictions of less taxation afterward, read: out of the country.
The problem I see with consumer spending though I guess is how much is actually still made in the USA. One could argue that the government is protecting American government jobs by giving themselves something to do, but at what cost overall.
Our governments are insisting here we spend ourselves out of it, with transportation programs. Our transit systems are built with by Siemens Duwag, where is that money going to go?. In Canada, outside of FJO widebands, there is nothing else made here I want to buy, the globalization of our economies, the specialization of each and the lack of independence is now almost a haunting reality today.
Most of us in Canada cannot afford to buy what domestic goods are left, because the tax burden on the average Canadian is already to high to leave enough disposable income left to do so, unless you borrow, and now no banks want to lend, and its borrowing which already has us in trouble. Quite the conundrum.