Barack Obama

[TracyCoxx]

Originally Posted by randolph

Well it's not a good idea when we are already deep in debt. So what should we do, give the remaining rich a tax break?

No one is saying give the rich a tax break. They're already paying 35% to taxes. What percentage are you paying?

Originally Posted by randolph

Or, here is a novel idea, lets start a war! Wars have got us out of depressions in the past. Oops, I forgot, we are already in a war that has cost trillions thanks to the Bush/Cheny con job.

Whatever was spent on the Iraq war over the last 5+ years was matched this WEEK ALONE on the spendulous package. I thought the republicans were overspending, but DAYYYUM!

Originally Posted by randolph

So maybe it will work to help people keep their jobs, borrow money and get the economy flowing again by pouring money into the system. For the sake of all of us including the skeptics, it better WORK!

I'm sure there are at least a few things in there to actually create jobs and stimulate the economy. But a very large percentage does not stimulate the economy. Let's not forget something. Every penny of this spendulus package comes from foreign money that we will have to pay back. How will we pay it back?

In order of really obvious to debatable is:
First, all the pork that has nothing to do with stimulating the economy (and there is a LOT), should be cut out of the stimulus package. This is one of those No Shit things and should be obvious to anyone outside of Washington, regardless of your party.

Second, cut out everything that provides for illegal aliens. Providing services to illegal aliens encourages more of them to come into the country and consume resources tax free. This does not stimulate the economy - it does the opposite.

Third, all the billions in thanks-for-getting-Obama-elected money for groups like ACORN, Hollywood, etc should be cut out. That has no business in a stimulus package, and there's no reason my kids and their kids should incur debt for that.

Fourth (here's where it starts getting trickier for democrats), there's a whole class of services the bill wants to provide that parents are perfectly able to provide. Give the people tax breaks, or make it easier for corporations to hire more people and people will be able to provide these things for their selves and their own children. It's more efficient and it gives people pride to be able to support themselves and their families.

Fifth (even more tricky for democrats), the government should not be in the business of buying homes for people. That is insane.

Sixth (democrats wet dream), no national health care for the general population. This is way too costly.

Cutting all these things should be seriously considered when you consider for a moment that we don't have the money to do this. If you don't agree, tell me why these things are important enough to add another $800 billion to our national debt. Again, how will we pay it back? The US govt is going to have to start spending less than it receives in taxes. Will we be able to do this? The spendulus package will create jobs at government expense. To spend less than the govt receives, those jobs will eventually have to be axed. Unless we're going to tack on another several hundred billion dollars to our budget every year for the foreseeable future. Extra points if you can tell me what the effect of a rapidly growing debt does to the economy.

Before you go on a rant again about the republicans, I will whole heartedly agree that they have spent too much as well. I will not agree that they caused the financial mess over the last 8 years though when Bush has been warning congress throughout his two terms about it, and the roots of the financial problems started 30 years ago. But yes, they have spent too much.

So Obama says

Originally Posted by Obama

First of all, when I hear that from folks who presided over a doubling of the national debt, then, you know, I just want them to not engage in some revisionist history. I inherited the deficit that we have right now and the economic crisis that we have right now.

Now Obama is revising history himself, but aside from that, he spent half of his speech saying how the policies of the last 8 years wrecked the economy, then says they doubled the debt. So his solution is to increase the debt another 25% in his first 2 months of office?