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How is this an economic stimulus bill?
The current bill is about 2/3 spending and 1/3 tax breaks. Much of the $550 billion in spending is divided among these areas:
$142 billion for education,
$111 billion for health care,
$90 billion for infrastructure,
$72 billion for aid and benefits,
$54 billion for energy,
$16 billion for science and technology,
and $13 billion for housing.
Wasn't the problem the housing market? I think we do need to invest more money in our healthcare and our education system...but why are they doing it in this stimulus bill? Shouldn't this stimulus bill be focused on the economic problem? If these things they want are so important they should make a seperate bill for them and not try to mask them behind the economic crisis...does anyone else think it is bull that they are calling this a stimulus bill to help our economy, when clearly it is focused on anything but the economy?
- Anonymous1 decade agoFavorite Answer
The stimulus bill is pure payback to all of the Obama supporters, plain and simple. It was comical when Obama said there are no earmarks attached to the bill. Yes, the whole thing is earmarks!!
The public despises this bill more and more each day as Obama's credibility and support dwindles.
Added: This is in response to what Bob posted. It's not stimulus for jobs when the government is creating the "jobs". Who sustains the jobs? We do with tax money. How does that give a total gain? It can't....no way. We need tax cuts for private businesses so they can hire more people and not lay people off.
- Anonymous1 decade ago
An option has been presented to buy up all the bad owner occupied mortgages, refinance them at 4% over 30 years. The lenders would make their interest money, just not as much, and the borrowers would still be responsible if they default. Sounds like it might work.
Is the 350 billion from the first bailout plan still available, that might be a better use for that money.
- SweetBrunetteLv 51 decade ago
I completely agree with you on this. This name is a name that Obama decided to use to arouse the voters. We basically have dumb people. People never bother reading and understanding what the "ARM" loan is because they don't like to do the number. In other words, "math". I demanded from the loan officer to show me the number when ARM loan kicks in. None of them, including the managers could give me the numbers. Which is why I left.
I don't think it is fair that the government should bail the banks and the homeowners ARM or others with bad mortgage loans out. If the government was to bail them out, it should have started back in the year 2001. It is not fair nor correct to bail out the current ones and not bail out all the ones before.
It is not focus on the economy. It is just bigger government spending and going into further debt which will put us into further deeper recession. I think we are in the depression, already.
- eileen4330Lv 61 decade ago
I think the best stimulus is to stop taking taxes out of paychecks for a given period. That would enable people to catch up on mortgage payments,credit card bills and buy in support of the economy in a direct manner.
Local business would feel the insertion of extra funds immediately.
When gas was so expensive we didn't "go for a drive", made one trip rather than three to stores and Post Office and doctor, didn't visit relatives or friends that we couldn't walk to.
This could change and make people more confident that getting in their car, going to a movie, buying those shoes would not be a problem later on.
Meanwhile it is best to get to a cash basis as soon as possible.
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- ?Lv 45 years ago
there is not any longer a doubt in my techniques, that some style of this equipment would be voted on and surpassed, What ramifications come from this relies upon on what's interior the equipment. If Obama pushes this with out including any republican ink, He could besides kiss his *** so long. For if this could fail at despite point. The pubs will use this to take returned the abode and senate. And while they do. Obama would be decreased to the whole empty healthful, we knew him to be from the initiating, The dems will never see the whitehouse returned for the subsequent 2 many years,
- Marin Vielli UKLv 41 decade ago
well i don't see it as a stimulus for the economy in general , but at least it does do its best to help the poorer classes .
basically its a bill to help the poor bear the brunt of the recession .
Or depression as looks more likely now ,(Flash Gordon in UK thinks so apparently, he should know he was one of the Architects.).
Ain't nothing anyone can do about the housing market ,it will find its own true level, leaving a lot of people with debts they cant handle.
How do you focus a stimulus on the economy in general.
- bladesinger0712Lv 51 decade ago
Well by stimulating the economy of coarse :D I didnt see any liberals answering so I figured I would do it for them
Yeah the problem was the housing/lending banks who bought up the bad mortgeges - so I guess by spending more money on everything but that it will create jobs for the people in those industries who will need jobs now - See again liberal logic surpasses all else
- 1 decade ago
OK, I'M YELLING SO I CAN BE HEARD. CALL YOUR SENATORS AND CONGRESSMAN. TELL THEM IF THEY SUPPORT THIS THEY WILL BE OUT OF A JOB WHEN WE IMPEACH THIS MORON. I'M STARTING THAT NOW. IMPEACH O'BUMMER! NOW!
THIS IS CALLED SPENDAHOLIC CRIMULUS PACKAGE. Pay back for the election. Notice it's about the same amount. He is a wack job. Says one thing and does another. Sounds so familiar. what was that guys name about 8 years ago. Married to Hillary. Yeah, that's him. This country deserves it's own funeral. Best of luck. Make the call. Complain to someone. Email them. My motto; 6 calls a week. 2 Senators, 2 Con-gressman, State Reps, 2 Companies that promote smut on T.V. Pick any 6. Just get thru to someone, and complain. But, do something. R~<><
- 1 decade ago
Hey one problem at a time.I don't own a home and ,with this economy never will.Some people bought what they couldn't afford and now must deal.Also there are people crying the blues because they lost their pensions ,well I never had a pension and I work all my life .Welcome to the middle class.Sometime you eat cheese mac three times a week amd sometimes you eat only two meal a day, if your lucky.Somebody caused this problem and they need to be held responsible.But if we need to throw money at that problem too ,lets start wit the Senior citizens who deserve our help,not the elite who now can't afford to live in their 500.000 homes.
- Anonymous1 decade ago
IT ian't it is payback for those who he owes his election to.!~!
Obama Giving ACORN $5.2 Billion in Stimulus Funds
A rising chorus of GOP leaders are protesting that the blockbuster Democratic stimulus package would provide up to a whopping $5.2 billion for ACORN, the left-leaning nonprofit group under federal investigation for massive voter fraud.What if Barack Obama’s most important radical connection has been hiding in plain sight all along? Obama has had an intimate and long-term association with the Association of Community Organizations for Reform Now (Acorn), the largest radical group in America. If I told you Obama had close ties with MoveOn.org or Code Pink, you’d know what I was talking about. Acorn is at least as radical as these better-known groups, arguably more so. Yet because Acorn works locally, in carefully selected urban areas, its national profile is lower. Acorn likes it that way. And so, I’d wager, does Barack Obama.
According to the law, registered voters must sign, print their name and list their address on petitions calling for a ballot initiative. It doesn't take a handwriting expert to see that many of these were filled out by the same person. (Also, see pages 30-42 and take note of the signatures — a bit odd to sign your last name first, isn't it.)
ACORN Is A Bad Seed
Something’s rotten in the state of New Mexico, and Ohio, and Michigan, and Pennsylvania, and Florida, and…
ACORN says it is a community group, but it is really a multi-million-dollar, multinational conglomerate. Its political agenda is driven by a relative handful of anti-corporate activists. ACORN spends millions of dollars to promote economic policies (like raising the minimum wage), but has admitted that it doesn't always want to abide by them. ACORN advocates for workers' rights and runs two unions, but has in the past fought its own employees' efforts to form a union.
ACORN's history makes for pretty interesting reading. The Clinton Administration found that ACORN was misspending government grants designed to help counsel the poor. Although it seeks minimum wage increases in cities and states across the country -- ACORN sued the state of California to get out of paying its own employees the state minimum wage.
ACORN's practices have corrupted our political process as well. It has engaged in questionable election activities for years—stretching back even to the organization's founding years in Arkansas. In recent years, as its political power has increased, so have instances of fraud.