House passes $819 billion stimulus bill

http://news.bbc.co.uk/2/hi/americas/7857276.stm

Yay, just print more money! :willy_nilly:

I have heard there are only two crimes that are specifically mentioned in the constitution...... treason, and counterfeiting.

 

it is to expensive and it will not work.

contrary to what nancy pelosi says food stamps and unemployment while a noble gesture wont stimulate the economy anymore than condoms and std education will..

not that anything would stimulate the economy for that matter..

i wish they would just tell the people the truth and let it crash.
its hopeless and anyone whos studying whats happening knows its hopeless..

we must let it crash and start over,there is no other way to fix this.

 

there is one solution to solve this problem overnight,however it will never happen..

a global biblical jubilee..

 

It's a given that it won't work. It isn't supposed to work (at least not for us).

 

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it still has to pass the senate

 

Well, I guess we can pray, mate, but I don't like our chances.

I would like to salute the 11 democrats that voted against this barrel of pork. And of course ALL the republicans stood up for America. Every single Republican. I am quite proud of that, proud that my party came together for America, even though they didn't have the power to fight the tyranny. I am going to send my Rep, Ileana Ros-Lehtinen, one of the best Reps in congress, a Thank You email tomorrow.

 

What do the republicans propose? A tax break for the rich and powerful, how fast will that turn this mess around? And since their administration has already handed out over 700 billion with no strings attached that should make them experts.

 

There are fears that the "buy American steel" provisions of the new Obama Government's US stimulus package for infrastructure projects could spark a trade war with America's trading partners.

"Nations including China and many in Europe are preparing to spend billions of dollars of taxpayer money on stimulus projects. American companies are angling for a piece of those pies, and retaliatory measures against U.S. companies, executives argue, could significantly complicate those efforts. This week, a European Commission spokesman threatened countermeasures if the Buy American provisions are approved."
http://www.washingtonpost.com/wp-dyn/content/article/2009/01/28/AR2009012804002.html?hpid=topnews

Canada has recently committed to buying $275 million in military vehicles from a US supplier against much criticism that the vehicles should be made in Canada. I think you could expect contracts such as this to be cancelled from around the world if the Americans impose protectionist policies on stimulus spending. http://www.nationalpost.com/news/story.html?id=1159861

 

The Republicans would probably propose the same thing Obama is since the Democrats and Republicans are essentially the same but with different faces.

 

That's probably very true, but I think it's worth trying. And I think the lost revenue from exports will be made up by domestic purchases in the long run. I think it's high time America held on to some of the things it does well, instead of selling them out to the highest/lowest bidder. And I don't think it's too much to ask that a national stimulus package be used for the purchase of domestic products. To do otherwise would only stimulate someone else's economy.

 

I think the problem here may be that the US exports more in the way of production machinery and equipment and industrial supplies than it imports. America's largest trading partners do have the knowledge and manpower to ramp up these industries in the face of what they deem to be unfair trading practices.

The US economy is still the powerhouse in the world and no doubt could exist without nearly so much foreign trade. But as other less industrialized nations increase their production of consumer goods, the US may be left out of the purchasing cycle by retalitory trading practices which stem from the American policies.

The "buy American" should be a greater part of the discourse when it comes to consumer items. That is the where the largest trade deficit exists (who last bought a "Made in America" TV?). But buying American should be encouraged, not enforced by trade regulations.

As the world comes out of the recession we are certainly heading into, America ought not isolate itself from economies which fair better in a shorter time period.

 

America won't be coming out of this "recession" (read: depression). At least not until things have been radically altered in this country. At this point things will never be as they once were. The entire fabric of this nation will have been completely altered.

The "Buy American" concept is ridiculous when hardly anything is even made here anymore. Besides, how can you save something that is already dead? It's a matter of too little, too late.

Not according to some of the world's biggest economists.

 

Buying american isn't going to solve anything. Either we are competitive or we aren't. A global trade war would really be the last nail in the coffin.

 

How do you suggest we do that...become more competitive?

I don't think there's much of market any longer for our debt.

 

Yes, corporate Tax breaks will work. Look at Ireland. I don't know a lot about it, but I know they dropped their corporate taxes to 12.5%, and they now have a very strong economy.

I don't agree with the 700 Billion dollar bailout, either. That was a big mistake, too.

 

Taxing employment will compress employment opportunity.

In Ireland, employers do not pay payroll tax. The Employees pick up all taxes related to thier employment.

 

This porkulus destimulus package is going to have disastrous affects. If I had one question for Obama, I would say "Where is this money coming from?" It is coming from my pocket. From my neighbor's pocket. From my kids' teachers pockets. From the pocket of the guy running the Citgo station around the corner.

OK, here is the perfect example. My mother is a teacher. They recently gave her a $1700 promethean whiteboard. This came with a projector, but I don't know if the cost of the projector was included in the $1700. In fact the thing might have cost more than $1700, that is just the least expensive promethean whiteboard I could find on the internet. Then they gave her a $500 NEC NP100 LCD projector. Now, this stuff is cool, but, she never asked for it. She doesn't even know how to use it, I am going to have to learn how to use it so I can explain it to her. Maybe she will come to appreciate these new toys, but there are other things she would rather have spent the money on. Now, her school board is getting something like $500M from Obama's Destimulus package. So people in Nebraska and Maine and everywhere else are funding this. So, one classroom, $2200 in wasteful spending in just the school system. Multiply that by all the pork in this bill, and all the greedy, stupid, lazy or weak politicians that are going to take our money away from us and basically burn it. Explain to me how this is going to help our economy.

If you gave every American citizen $2700 it would cost about the same amount of money and would do much more to stimulate the economy than this stupid bill. Plus, added bonus; the illegals wouldn't get anything.

Can anyone explain this to me?

 

You cannot stimulate the economy by doing the same thing that created this orchestrated mess to begin with. It all stems from the Federal Reserve. So now the solution is to print up even more funny money, driving the value of the dollar down, while putting this money into things that will NOT stimulate the economy. But it isn't their intention to stimulate the economy. Their intention is to create an even bigger crisis by causing hyperinflation and destroying the dollar. Once they do this they can offer their pre-planned "solution" of a North American currency and/or a global currency/currency system. Even the mainstream media is talking about this now.

See also: Goodbye U.S. dollar, hello global currency

 

Well, because that might actually stimulate the economy and they don't want that. These people are not stupid, they know exactly what they're doing.