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GOP Announces It Will Oppose Obama's Latest $300 Billion "Jobs Plan"
In a move that will surprise exactly nobody, the Senate Budget Committee ranking member Jeff Sessions has signaled that "Republicans would oppose the jobs plan President Obama is expected to announce Thursday, saying it would only put the United States further in debt at a time when the debt is already weighing on the economy." So while nobody even knows yet just what the full presidential proposal to create "millions of jobs" looks like in its entirety, we do already know it will almost certainly not happen courtesy of a republican controlled congress. As a reminder, the US is currently supposed to be laboring under a regime of austerity (more in its latest, and vastly watered down Italian iteration than real cost cutting but still) and thus it will be rather complicated for the GOP to explain why the party is cutting with one hand and spending more with the other. As such, any hopes for a quick and decisive passage of laws to build more bridges to nowhere are about to be dashed. From The Hill: "There’s no doubt in my mind that the debt that we’ve now incurred is already weakening our economy,” Sessions said on the Senate floor. “It comes to a point that you can’t keep borrowing in a futile attempt to stimulate the economy when the increased debt itself is weakening the economy.” Cue Keynesians of all shapes and sizes kicking and screaming how more stimulus this time will be different and how one last Heroin injection is really all it takes.
From The Hill:
Sessions read one press report on the Senate floor that said Obama could propose as much as $300 billion in new spending in his Thursday night address to a joint session of Congress. According to that report, Obama is expected to propose extending payroll tax cuts for another year, and extending expiring jobless benefits. Those two measures combined will cost $170 billion.
He may also propose a tax credit for companies to hire unemployed workers, costing $30 billion, and a public works program that is expected to cost at least $50 billion for such items as school construction.
Other reports say Obama's total proposals could total less than $300 billion, with some putting the number at $200 billion.
There is still, however, some hope: cut and spend.
Regardless, Sessions indicated Republicans will oppose any new spending plan that is not offset by spending cuts. The senator noted that while Obama has talked about the need to reduce federal spending, Obama is not expected to describe how to pay for these new programs in his Thursday speech.
If the debt ceiling debate highlighted, it is that the US population is no longer that stupid to realize that $2.4 trillion in deficit spending now, offset by $100 billion in cuts in the next 9 years and about $2.3 trillion in the final year, makes absolutely no sense.
Yet unfortunately this is what will likely end up happening. The final outcome will be that between this, and the next 10 or so fiscal stimulus programs, all of which will fail, will be to back-end load about $100 trillion in spending cuts in 2020, a year when the government will probably collect one 50th of this in revenue.
At some point someone will ask how this makes any logical sense.
But not yet.
For now, look for much more posturing both tomorrow, and in two weeks, when the "transitory" $14.69 trillion debt ceiling is breached about half a month ahead of schedule.
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He shouldn't, otherwise he'd not be doing his civic duty to serve his consitiuients which he could not do if not being elected were the civic thing to do to not serve his constituents.
Whoa. You guys just wrinkled my brain.
Here, let me help you un-wrinkle it...
HEY AMERICA!!!
V
CD always talks over my head. I'm used to it. : )
I'll never get over the fact that I talk over my own head. What a trip. :)
Brother Cog,
Wasn't it just a month ago or so that everyone was freaking out about the debt ceiling, saying that the deal ultimately disappointed because it was not austere enough?
Perhaps, I had it all wrong when I sent hockey helmets to the floor traders on the NYSE floor last winter. Perhaps, I should have sent a case of Ginko Biloba?
What a complete bumblefuck we now live in. Thank you Ben Bernanke.
Right, the debt ceiling was frowned upon because it didnt cut enough....but we suddenly went down ANOTHER worm hole into an alternate universe where suddenly they simply cant print enough out of thin air!
Correct.
All we are seeing [and I do not care what you are looking at] is volatility. There is nothing investable here...nothing. And yet the BlowHorn clowns sing their daily song, hoping against hope that this is the day that Average Joe comes in and buys their crap equity positions...something that continues to NOT HAPPEN year after year.
Who is in charge of this giant mental hospital?
And does he EVER want capital formation again?
Exactly! Whats REALLY missing and no one ever talks about at all, Avg Joe never did buy the PUMP! That was their plan 2 years ago 'We'll start pumping stocks then the public will pile in, we'll pass off the pump to them and then be home free'!
Sorry, never happened, been zero volume markets for ages.
They fucking plum forgot that Joe Public didn't have anything with which to buy into the pumping even if they'd wanted to.... which they didn't.
Cats/stoves
Correct Dog. But there is hope because...
THE PINK SLIPS ARE COMING...THE PINK SLIPS ARE COMING! This last sad, vapor melt up is likely a horrifically stupid attempt by select criminal syndicate Wall Street bankers to make the cut ahead of what will surely be a very necessary shedding of these parasitic morons. Maybe mixed in are some fund managers who are trying like hell to stave off more redemptions, as well.
It is so transparent that I fear that, even once thousands of these idiot lemmings leave Wall Street with their boxes in hand, capital still will not form again in this nation for generations. Such is the damage these assclowns have done to our once great nation.
But there is hope...and joy in the fact that...THE BANKER PINK SLIPS ARE COMING!
Brother Cdad.
I'd have thought you would have graced my latest essay from yesterday. I kept it down to 7 paragraphs, a bloody miracle by my standards. Where's my candy reward? :>)
At this point in the great Ponzi unwind capital formation is the LAST thing they want. Long term money invested for long term capital gain would be the (quicker) death of the Ponzi.
Sorry brother Cog. I'll look for it this evening. I have had my hands full these past few days.
I look forward to beholding the new CogDis miracle!
I was thinking of asking you CD what brought that little ditty on. Just curious.
A conversation with a friend sparked an idea. We were talking about forgiving those who have hurt us in order to maintain a relationship that is more important to us than the harm we felt from that one hurtful incident.
Sometimes I will be thinking about something or having a conversation which leads to some introspection. Then I will say to myself "I can't be the only one thinking about this" and I begin to write down my thoughts.
I read that, CD, but will admit to being rather puzzled by the whole thing. Therefore, no comment there. As far as those who have committed actual crimes against the country and/or its people, forgiveness does not enter into the equation.
'To believe that thinking of this sort will produce anything other than more problems is foolish thinking on our part.'
You might even say that it's not thinking at all. Thinking isn't part of the game here, being a sycophant is. There is only one kind of thinking and that is on your own. "Group think" is nonsense because no actual thinking is involved.
It only gets worse.
Actually, a politician's first instinct is to ask "how can I get reelected?"
The second instinct is to ask "how can I rip off as much money as I can while in office?"
LOL
I think we just found the resident ZH cynic. :>)
Window of opportunity... lol
Au contraire, Cog, I'm of the camp that believes they leap from one manufactured crisis to another, purposely leaving errors of omission and comission so as to enable further leaps from one manufactured crisis to the next.
They do Not Try To Solve Anything. It's all pablum and sleight of hand, distraction of the masses, for each subsequent manufactured crisis demands additional hearings and lobbying which act as campaign contribution birthing mills.
All of the Grand Design.
The pursuit of Money, Power, Property and Prestige Diverting Themselves from their Primary Purpose of Elected Representative Statesmanship.
I was speaking in general terms about the lowly congress critter. I think on an individual Senator or Representative basis, the grand plan is too big a concept. The first and second term critters are looking straight ahead.
Except for the more powerful individuals. Like Jesse Helms for example.
Agree completely. When in doubt, try the old saw: "No one could have seen this coming!"
On the larger scale, people don't even realize the shysters have the upper hand. It's as if they'd rather bitch about the theif wrinking their pants while removing the wallets.
Manufactured crises are how the pols convince the proles they need the pols.
Rinse, repeat.
It has always been so.
Agree!
It's the pharmaceutical model: There is no money in a cure. There IS money in getting someone to pay you for maintenance medication, month after month. Just cut/paste politicians/bankers and debt and it seems very similar...
Political Entropy...
Emotionally exhausting. I laughed, I cried, I reached for my gun, I... I...
I feel more than hear the click-BLAM and...fade to black.
Naw, I'm still here. How does that saying go: It's not me it's you. Or should I say them.
How many jobs would $200 billion create? or $300 billion. How much would a trillion create? Answer: none .. eventually all of us will be unemployed at this rate.
That's the plan too!
Completely agree with you. The answer is zero. Here is the math that popped in to my mind: $300B divide by a $75k salary is 4,000,000 jobs for a year.
R'S & D's are opposite sides of the same coin.
Yep, than ask yourself just what good a 75K job will do for you when the poverty line shoots over 100K for a family of four. Already over halfway there now.
Is that poverty line with or without SNAP? /sarc
Can't wait for this program... More money for local governments to give their employees a raise who already make +75k a year. Meanwhile... the people who really need it (known as the productive class) get nothing. America... Fuck Yeah!
http://www.youtube.com/watch?v=sWS-FoXbjVI
THIS PROGRAM WILL BE TO SAVE UNION LABOR (MOSTLY GOVERNMENT) AND NOTHING ELSE.
Just to play a tad of devil's advocate: Those labor unions did give folks the 5 day/8 hour work week, with overtime pay. Workers got those benefits like health care and retirement funds (before gov't started taking over the job to get the public's accolades and thus re-elected). The safer working conditions (which became perverted due to over-regulation, of course).
I do, however, see no use for public employee unions because they have a non-compete job. That's just wrong. They are not entitled to the secure gov't retirements and health benefits PLUS the equal pay of a private sector job. The entire system has gone awry, but one should not forget the advances that the original labor union movements provided. There is a delicate balance, but that has been upset by gov't intervention, so that we have a distorted labor market today.
Promises are going to be broken, contracts are going to be voided, and "entitlements" are going to be abrogated. Let's just get used to that fact.
So do financials rally tomorrow or not?
Short FDR
Long concrete
Gov Christie wants federal hurricane aid without offsetting budget cuts as proposed by hedge fund blow job giver Eric Cantor.........Is Christie really a rebublican?.....Rick Perry is screaming for aid in fire torn Texas........starve the beast bitches.........
Chritie is just a fat guy from Jersey
http://i.dailymail.co.uk/i/pix/2011/09/05/article-0-0DB6ECBE00000578-213...
No soup for peons. Funny how when the banks need bailed out everyone is gung ho for doing it or else tanks in the streets. When the loot goes to main street - not so much. Oh well, the people keep taking it so why not.
So I guess Maxine Waters request for $1T is out of the question
http://www.realclearpolitics.com/video/2011/09/04/rep_maxine_waters_call...
I think she blabs things like that as a foil on purpose to make Obama's redistribution schemes seem moderate.
Maxine Waters is like the scarecrow from the Wizard of Oz. She should be requesting a brain...
how could anyone down-arrow that!?!
She loves her some Castro.
should I buy the sig or the HK? I hear the sig is better at stopping zombies....anybody corroborate?
Neither, get a Benelli M4 with a mag extension and live zombie free.
KaBar has even come out with a new line of 'Zombie killer' machetes and knives...no kidding.
KA-BAR ZK (Zombie Killer) Series Knives - Knifecenter.com
Your money would be better spent on a cheaper gun and training on how to use it.
it was a joke friend. i.e.--the end is near. Not too many people in my club can outshoot me.
Rifle I would go with the HK, as it was designed for the 7.62 NATO round (G3). SIG dallies in the 5.56 for its 5.5x offerings. Nice rifle though. Zombies require at least a 0.30 round. Call me old fashioned, but I like a full sized battle rifle.
Pistols I would say either are fine pieces for their full-size lineup.
pods
This. Although I would throw in the nod for HK pistols as well ;)
Can't find the link, but previously saw a blog/video of a guy shooting ~30k rounds out of his 45C w/o failure. Pretty sick.
--Paul 'Let Them Eat Fellow Debt Slaves' Krugman
Alien zombies.
ah yes...there's the news that's gonna push the /ES over 1200...because, let's face it, in this clusterfuck we call a nation/economy...it's all "good for the stock market".
You didn't get the memo?
Economies of U.S., European Serfdoms, Japan...massive unemployment...record debt (and deficit spending)...welfare statism...zombified/walking dead banking sector....depression level real estate activity...anemic private sector activity...
...all better.
I don't think they've even spent all the 2009 Porkulus. It wasn't timely, targeted, or temporary; and no shovel ready jobs -- $1 Trillion dollar worth of lies. 3 years into this adminstration and the only job Obama is finally, really worried about is his own.
If you ask me, the current crop in DC are having waaaaaay too much fun.
$300B wouldn't have done shit anyway.
Depends on who you give it to. Banks can leverage that up to $3 trillion in about 30 minutes, and have time for martinis.
debt? It's NOT DEBT!
It's the kind of "CREDIT" that makes the economy run!!!
"Republicans have decided they're not going to give a rebuttal to President Obama's jobs speech later this week, a decision House Democratic Leader Nancy Pelosi took as a high affront to the White House. "
So hillarious...'How DARE you not rebutt Obamas silly speech so we can then act all flustered and outraged ourselves! Frankly, we're OUTRAGED up in here'!
LOL
Nancy takes the Republican decision as a high affront to the White House.
The White House doesn't speak for itself?
Nancy is their Mouthpiece?
Whooowe! Power politics, here, folks!
Mom, is there something wrong?
Why are you crying?
Alien Lizard ex-Speakers are the most repulsive invasion I can think of.
Botox causes dane bramage.
You're assuming that anyone who would take botox injections HAS a dain to bramage.
I just love Spoonerisms.
Next thing, the GOP will take their caucus entirely out of DC, encamp themselves in some backwater Southern state, and hold debates on a new Constitution. And so, to war. And to think Lincoln was a Republican. These guys are insane.
And no, this is not the sarc flag you are looking for.
Lincoln being a R is why the South voted Dem for a hundred years.
It's pretty simple, Democrats and Republicans have NO incentive to tell their constituents, "No". They want to keep their jobs. Until debt service exceeds tax receipts, the credit card will not be declined, and nothing will change.
No one wants to fix the problem. They just want to make it worse, a lot worse for the next one. That way they can keep the dumb sheep bickering in partisanship.
An approach brought to you by your local friendly Hegelian Dialectic.
Reminder: Republicans control only the House, not the Senate, so they do not control the entire congress
Reminder: The house controls the purse strings, it never gets to the senate or the president unless it gets out of committee in the house.
300 billion for a jobs plan isn't much in a 15 trillion dollar economy. This is just Obama trying to cover his ass for the election.
The Hell. $300B is an ass load of money if he can channel toward a few of his friends.
The GM bailout was positioned as least in part as a jobs solution. Start thinking about "the good" he could do for his election with 60-100 "GMs" under his belt. And it only has to work for 14 months.
With that in mind, you get the idea.
() ()
<l>________________<l>
l l
^ ^
The real question in this tug of war is when will the rope break, not who will win?
The Feds spend $3700 billion a year now. Add $300 billion and you get about 8% more spending. That will make all the difference!
And just think, that was the BEST they could come up with!
Kind of a Big Sherlockian (or Shylockian) Approach... "The 8% Solution."
YAY!
prez0 announces bullshit "plan"; GOP announces bullshit "opposition"!
what a country! what will the SuperCongo doodoo?
here's an interesting piece abt one of israel's puppets, House Foreign Affairs Committee Chairwoman Ileana Ros-Lehtinen (R. FL) by a writer with whom i seldom see exactly eye-to-eye, but who has many interesting analyses none-the-less: For the Love of Israel: Congresswoman’s Misguided War on the UN - <i>By Ramzy Baroud</i>
do you also find it kinda ironic that she is in israel's pocket due to The Supremes' idea that corporate and foreign interests can engage in legal bribery and scalawaggery b/c we have "free speech" under our Constitution and their enormous payments to these fuking asswipes are "protected speech"?
Remember the union's declaration of war speech? Now answer the question: Who will benefit most from this 300 billion? Gee, I wonder...
The Koch suckers?
This is all politics setting up for the first voting in February just five months away. I do think it is dangerous for either side to play political football with jobs in the current climate though, but the edge here goes to Barry O. Seems to me there was a jobs program a couple years ago, we were seeing all those saw horses set up saying something like "Putting America Back To Work," and all I could think of was how I would like to have a government job setting up saw horses saying putting America back to work.
But, Barry puts out a huge televised plan that hungry and hard hit peons are desperate for only to hear that it is DOA by the GOP in congress before we even know what is in it, and the GOP has but one answer, stop taxing "job creators." Eventually if we stop taxing rich folks their greed will be sated and they will actually produce a few slots for nannies and house cleaners, and if Americans will just consent to work for sub minimum wages with no benefits maybe they would get hired for them rather than someone named Consuelo or Maria. Seriously, I expect the house to come up with a proposal to "temporarily" allow for sub minimum wage jobs to start with people under 21 but then to be extended to over 21's, and eventually made permanent. Emergency legislation that has no deficit impact.
Why dont you idiots go open a text book and study Japans lost decade.
Japans lost decade'? We should be so lucky.
Japan was supported in their lost years by the whole of the rest of the developed world, and mostly by American consumers.
Who will support the US when the rug is pulled out from under us?Japan? Germany?
The answer is: Nobody.
This is going to become about 7 grades of epic fail.
Speaking of textbooks; Japans should have an apostrophe. Cast no stones in a glass house.
Republicans announce they are opposed to a plan that hasn't even been announced and has no details. Well, at least they gave it thoughtful consideration!
If Obama said the sky was blue, the house republicans would go on fox news and decry his socialist color perception -- every Real American can see the sky is red!
I see, so instead theyre supposed to knee-jerk agree with it and make you happy?
I'd like to see a half empty chamber for the grand CONgressional TOTUS reading.
SEN. JIM DEMINT:
"I am sick and tired of speeches, the president told us not only the stimulus but Obamacare would help the economy. Dodd Frank, mortgage bailouts; this is probably the 10th speech of various kinds as he said is his jobs speech. I want to see something in writing and what the president is talking about is more of the same. And frankly, over August, I had a chance to talk to dozens of businesses. Nothing that he is talking about now relates to what they are telling me."
Yep, bout somes it up for me. Barama is a big ZERO/loser.
Someone probably mentioned this above, but what the GOP means to say is that it "opposes $300B spending plan......until they have control of the state's controls"
Shameless pandering.
Agree. Republicans want the ecomony to perform poorly during the election year.
$300b to pay people to shovel shit into pot holes for 2 months will totally turn this economy around, right?
It's September for fuck's sake. By the time the money gets out there and the project plans to fill the potholes are approved it's going to be winter. No work will get done and no jobs will be posted until the spring thaw.
You're using too much logic in your reasoning.
We're talking about pablum for the sheeple here. The natives are getting restless, what with their 401ks dwindinling down to nothing, the value of their after-tax dollars having the utility value of toilet paper, no jobs in sight, etc.
The President knows his "plan" is worthless. But he needs to say something to the great unwashed masses.
All of congress is going to hell...just which level of Daunte's hell is yet to be seen. I wouldnt guess level 7, the lowest level, Cheney, Bush 1 and 2, Hitler, Skilling, Fuld, Kenny Lewis and good ole Kenny Lay are there sipping Crystal and butt fucking eachother (no offense to those who buttfuck).
I would gueess level 5 if not level 6.
I hate them all...Democrat or Republican...fuck em all....however, the GOP does have a good point. The 300B should be in tax cuts and someone needs to get business owners in the house to tell our Govt. what it will take to get this fucking foot off the throat of our Nation and Economy!
Simple as that...
Metallica said it best..."kill em all"
I just happen to have Dante's The Divine Comedy I:Hell open to the map of hell...
the very bottom level is for Traitors to Kindred, Country, Guests, and Lords.
Above that in the Fraud and Malice area there is:
1 panderers and seducers
2 flatterers
3 simoniacs
4 sorcerers
5 barrators
6 hypocrites
7 thieves
8 counsellors of fraud
9 sowers of discord
10 falsifiers
so....take your pick hehe
Obama's supply side jobs destruction plan including slave labor for corporations?
No thanks. But of course, the republicans are just as much dipshits. You'd think they'd jump after free trade, tax cuts, and slave labor.
Glass-Steagall
http://lonerangersilver.wordpress.com/2011/08/30/pyramid-of-capital-syst...
Security threat said Billiary....the massive deficit is threatening the very fabric of our culture.......it's belt tightening time....except, of course, on Wall Street where they expect Record Fat Bonuses again this year.
This is the called the Barackalypse. Pretending a $300 bln package for "jobs" is a tax cut! Maybe they will also annouce "debt forgiveness" for all those poor families who can't afford their mortgages? Or maybe, a tax break for solar powered cars? Oh, what about tax increases for all those making $150k or more in income? That would be fair in Buffet's book. Believe it or not, these policies severely threaten the ponzi scheme of the Dollar....
The Bernank is nervous...he may be able to helicopter his way out...
"Job Forgiveness"
If you have one, the way it's going you're gonna have to give it up.
Root for the fucking Bread Lines!
300,000,000,000
divided by
3,000,000 == $100,000 per job
Personally ... I could easily make 2 jobs at $50,000 each
I'll bid 150 for 3!
Ubba hubba dubba doodlie do
Do I hear 50 for two...
Going once, twice...
Not with the federal government taxing the shit out of you for creating those jobs. Two more people on your health insurance plan? Tack on another $25k per employee.
22 business days in a month times 8 hour day == 176 man hours
176 man hours time $20 == $3520 a month
With or with out insurance ... the unemployed would be lining up at the door, down the street and around the corner
You're not just paying wages. Real jobs needs materials and equipment. Construction needs lots and lots of equipment and materials.
So in other words, the GOP supposedly wants jobs to be created, they just dont want to spend any money to create them. THey have come full circle to their former president Herbert Hoover. The GOP are Herbert Hoovers again, thinking the best way out of a recession/depression is to slash spending further.
Because of their hatred of Obama they are willing to keep crashing the US economy. GOP = pure evil.
The GOP hasn't cut spending nearly enough to be considered an exrcise in fiscal prudence. They are just as guilty as the Obamanomics professors.
The GOP and the Dems need to create capital incentives for industry to expand. The problem is that this country is becoming more and more anti-business and that is due to the class warfare rhetoric of the Obama administration in a time of national financial crisis.
Anti-business? Taxes on the rich and on corporations are near record lows. They have been for 10 years. If this whole low taxes voodoo trickle-down economics scam that quack Milton Friedman pushed actually worked then we would have near zero unemployment.
So low taxes on "Job Creators" (TM) = anti-business?
AH! So you conclude that govt must print money in order to create jobs?
Pure and total fail.
No, I'm saying, and as history has proven time and time again, that in order to stimulate the economy, you need to get money into the hands of consumers who will spend it. If the people have no money to spend, the economy crashes. The basic way to describe what a recession is to the common layperson is "when inflation has outpaced wage growth over the long-term," thus preventing the vast majority of the population from being able to continue to buy all this consumer crap which keeps the economy moving. Henry Ford figured this out with his "$5 a day" wage.
If people don't have money to spend, money won't be spent, and businesses then have to lay people off. That's where we are now. Its a vicious cycle and Obama is trying to break it with no help from the other party. The other party actually wants to crash the economy just so Obama doesn't get another term. The USA is the sacrificial lamb for the GOP to try to win back the White House, and that is inexcusable.
What Obama wants to do is get money into the hands of the people via public works projects, just like FDR did during the depression. If you can't see that then your partisan colors are blocking your view and/or you obviously have no grasp of history. Large public works projects work. And our infrastructure is crumbling. So we can both reduce unemployment, stimulate the economy, and rebuild our infrastructure all at the same time. Killing three birds with one stone.
But the financial geniuses over at Foxnews told you that the only thing we can do is give more tax cuts to the richest people in the country and even though we tried that for 30 years and it hasn't worked that somehow now it will work. You've been had.
I find it odd that you are promtoing Inflation when that's one of the contributing facors of the collapse of the Roman Empire. Primarily because of the avatar and screen name.
Just change his name to: BiggusProfessivusAssivus and you get the idea..
The point of the stimulus was for the government to get money into the hands of the banks and 'Job Creators' so they would continue lending out money and hiing more people. Instead, the banks just put that money in their pocket to delay the inevitable discovery of their insolvency.
So now the government will put the money directly into the hands of the people, bypassing the Wall Street criminals, via work that people will be doing rebuilding our infrastructure- an extremely critical and necessary expense. One that we will have to do no matter what anyway. No need to cry about it.
By the way, this is not a hand-out. These people will be earning that money. So if you had a problem with the extension of unemployment benefits, you should be applauding this jobs program. The tens of thousands of businesses that will supply the materials needed will also benefit. It will therefore:
- Create jobs
- Rebuild crumbling infrastrucuture
- Stimulate the economy
Are you against any of these things?
I wish the TelePrompTer could speak for itself. I hate watching Obama search for meaningful & thoughtful composure on camera while droning more laser focus diarrhea crap.
double post
It's clear that Obama will stop at nothing to get the unemployment rate to trend downwards prior to the elections. After that, he could really care less. Even if that means that means it further destroys America in the process.
One of the quotes from Marc Faber's newsletter seems to best describe Obama:
"Power does not corrupt men; fools, however, if they get into a position of
power, corrupt power."
George Bernard Shaw
extending expiring jobless benefits
Yes, it is very important to keep those jobless benefits coming to solve the job problem. Obama knows he will get a vote for each person who remains unemployed and continues to get their benefits. Next thing you know there will be a government match 401k for the unemployed with a big contribution as long as you stay unemployed to help close the wealth gap.
When your approval rating is 39%, what makes you think anything you say should be followed, or even listened to. Best advice to Obama, keep a low profile, play a lot of golf, and enjoy the perks while you are there.
300 Billion.. Carl Sagan Bitchezzzzzzzzzzzzzzzzzzzzz
People talking US politics SO seriously....sheesh lighten up people! US politics is just the WWF with Adam Sandler writing the script! Its NOT to be taken seriously!
the guvermint is just doing its 'job'
.
Obama 2012
Now I know how rational folks felt when idiots voted for Bush's 2nd term..
back and forth, back and forth.......are we sure obama isnt watching the US Open Tennis
Good because all the money will be used for is to fund Ohbummer's pet projects and political allies. Just as the last stimulus was wasted for the same reasons. The green job's investment ended up with those companies declaring bankruptcies. How many millions per job were wasted? Rediculous. How about revamping the tax code, punishing fraud, leveling the playing field, restoring confidence of the business sector with the cessation of flip-flopping regulations, separation of corporation and government, etc.
We are so screwed. And the market moves higher since it did not implode yesterday. Outside of algos and HFTs, who is buying this shit.
Hey remember when 2009 Obama said he wanted $800 BILLION for "shovel-ready" jobs and a payroll tax cut that nobody noticed because it put an AVERAGE $13 extra in Joe Sixpack's bi-weekly pay stub? $13 bucks that was immediately offset by the spike in gas prices, so we were better off with a kick to the groin? And how they said we had to pass stimulus because we were on the "precipice of disaster"?
And remember a few months ago when President Obama and Jeff Immelt of GE were at a podium laughing about how "shovel-ready wasn't as shovel ready as we thought", to explain the utter theft of tax-payers money for so-called infratstucture jobs?
Does Washington honestly believe that the people are that dumb?
Americans get the government they deserve.
Who gives a fuck. Just taking tips and getting stoned. Nothing to see here.
That's because 40% of that $800 billion was wasted on more tax cuts for the richest people in the country. Pure complete waste. That money was not re-invested. The "Job Creators" (TM) did not, as the laughable trickle-down economics theory says they would, take that money and create jobs.
So yes, 40% of the stimulus money was completely wasted. That 40% was, incedentally, advocated by the GOP, not by Obama. So if you are looking for someone to blame, blame the GOP. That' is $320 billion more that could have been spent on creating jobs right here in the US but instead was wisked away by the plutocrats to offshore bank accounts instead of to stimulate the US economy.
where'd the other 60% go, and who signed the bill in to law instead of vetoing, and who controlled the Senate that must have OK'd it? Don't you get it man, both parties work for these kleptocrats, in fact probably more so the DNC. And, then they have guys like Rick Perry defect to become RINO's so if Obama or Perry wins, doesn't matter - the TPTB win. If you own all the horses in the race you can't lose.
Immelt is a perfect example of the friends Obama and co. keep!
"GOP will oppose Obama's declaration that apple pie is tasty."
Is everyone finally getting it now? The GOP will vote for NOTHING coming from the Dems and particularly Obama. It doesn't matter what it is. He could suggest a bill honoring Mother Teresa and the GOP would filibuster it.
The GOP is uninterested in governing. They are interested in winning elections. They have no clue what to do after that because they no longer have a platform beyond winning the election.
The Dems are as incompetent as ever, but don't fool yourselves into thinking that the GOP is somehow a better alternative. They're basically just anarchists and hostage takers at this point.
we should only wish they were Anarchists
Why should they, Chet? Its not written into the WWF DC Politics 2 headed 1 party 'fight' script for brainless dummies to obsess over which side theyre on.
Unfortunately true. And, if they passed one that miraculously got signed in to law and worked, the big O would likely get all the credit. It's not right, but that's the stupid effing way DC works.
it can be as important to vote no to bad ideas as it is to vote yes to good ones. If the GOP continues to vote no on all the bad ideas coming from Obama/Reid/Pelosi, then it has my thanks.
But what to they suggest instead of Dem policies? I don't think I've heard a single affirmative policy idea from a Republican in at least four years. Hating everything isn't a practical governing philosophy. We all know the GOP is filled with resentment and anger. Message received. I'm waiting to hear what the next part of the message is.
The GOP have been in power in the House for the better part of a year and they still have not submitted ONE job bill. Not one.
As in, less than one and not more than zero. They are not at all intersted in creating jobs, and here is proof positive. GOP = financial terrorists
In a rough guess $300B should be enough to put about 1.0M - 1.6M construction workers to work for a year, add to that secondary employment effects from production of materials needed for the construction.
1. Now, what could you do with 1.6M construction workers?
2. How can you plan for the future and help yourself (employment++) in the present?
The answer to both is infrastructure investments.
The now gets jobs, the future gets cheaper transport (or communication or energy).
IMO, the type of infrastructure shouldn't be too heavily weighted on highways. Automobiles depends on oil, and alternative fuels that are actually competitive are not necessarily going to come. Electricity is hard to store but easy to transport. Since the transport relies on wires, I would put money on Obama proposing construction of electric railways. That, or some power plants.
Gee why didnt the genius central planner do all that 3 years ago then if its all so obvious and brilliant of a conclusion.
I am not American. Where I live, we have a mixed economy, the governement did just this. The immediate reaction to 2008 was infrastructure investments, and I believe the plan was 90% ready before the crisis even started.
The construction sector is one of the first sectors to suffer from economic downturn. It is quite servicable to a national economy to keep it occupied with long-term investments, while waiting for better times.
>central planner
>genius
How about you let the taxpayers keep their $300Bn or not put their children further in debt to the tune of $300Bn and keep Uncle Sam the fuck out of it? In my opinion you're a Socialist asshole and your opinion means nothing to me. It's my money, keep your mitts off it and finance your 'green utopia' with your own dollars or let the private sector do it.
And while we're at it, I want all my tax dollars that were spent on the military back. We've been in Iraq and Afghanistan for nearly a decade and those slackers at the military still haven't won them yet.
In my opinion you're a Socialist asshole and your opinion means nothing to me. It's my money, keep your mitts off it and finance your 'military' with your own dollars or let the private sector do it.
As a point of order, it's not your money. They'll print the money. Then it becomes your inflation, or your sovereign default, as you prefer.
They get all the bang. The idea is that nobody has to come up with the buck. Pretty stupid if you ask me, but they really want the bang, you see. And are not going to look too deeply into the operational details.
exactly right, SheepDog. This is what we were promised in the original "stimulus" - lots of shovel-ready infrastructure jobs. But what we got was payola to state and local governments, universities, unions, and other consumers of wealth. In short, we got political action, not economic. I don't care which party proposes it - $300B more in federal spending is a bad idea because the geniuses in DC will just piss it away, and then they'll come back for more. More central planning, picking winners and losers, and federally funded encroachment of our liberties, is not the answer. I don't care if your name ends with (D) or (R).
This really doesn't defeat the point. Yeah, you may have inept politicians, but as you say, and according to the breakdown of the Feb2009 stimulus plan I found here, hardly a dime of the 2009 package was spent on infrastructure/construction projects, aka real jobs.
a point can't be defeated when someone has blinders and earmuffs on
explain that to your fearless leaders - they think handouts to banksters, billionaires, and union bosses are what creates jobs
you guys are depressing me, how about somebody post some pictures of some nice boobies