Obama's stimulus package

[mcchunter]

Originally Posted by iko172202

Crazy sh*t...in my town I've watched 3 big businesses go out...in my small town this means alot! ....one good thing about being a cop = job security....

bro they are shutting down entire police forces in towns around here.
and fire stations.

state boys are going to patrol now.

[iko172202]

Originally Posted by mcchunter

bro they are shutting down entire police forces in towns around here.
and fire stations.

state boys are going to patrol now.

ooch...so much for security..

[MindFreak]

Originally Posted by vassille

the stimulus package is a helll of a lot more important to me than your prayers in school moron....grow up!

first let me start off by saying that i could really care less if people are allowed to pray in school. that's not what this post is about. i am just asking (respectfully) have you read the stimulus package? if not, i suggest you read it or a least the important parts. exactly what in the economy will it stimulate? answer: NOTHING. what does it do? it can be explained by the following:

First, it allows democrats the opportunity to pass their own ridiculous bridge to nowhere without the political fallout. $100 billion is appropriated to transportation projects like road and bridge repair and other infrastructure needs. Good, right? Only if you are not a white male construction worker, according to the President’s chief economic advisor Robert “Third” Reich. Plus, due to the bidding process and the length of the planning phases, these projects aren’t likely to get started for another 18 months to 2 years from now. So, how will any of this stimulate our current sagging economy? Answer: It won’t. But, Obama and Congressional democrats know that such gargantuan appropriations is an ordinary transportation bill would never fly with the American people (ask Sen. Ted Stevens and the residents of Alaska). So, they dressed it up under the guise of putting Joe the Plumber back to work before Easter and VOILA! You have pork barrel spending that everyone can support.

Second, it gives democrat politicians funding for failing pet projects that have been on life support for the past eight years. $100 billion for failing public schools who can’t get funds from No Child Left Behind. $1 billion to give welfare moms high speed internet access. $50 billion for companies to switch to eco-friendly light bulbs. $5 billion to enviro-wackos to save the spotted owl. And so on and so forth . . . .

Third, it pays back the poor folks , minorities, and college kids, who came out to vote for Obama on Election Day by giving them free government paychecks paid for by the American taxpayer. The President calls them “tax cuts”, but all they really are is government subsidies. Do you really think that you will see any more money in your tax refund? Here’s who gets a break:

(1) People who make under $8500 per year will now be able to get the full $1000 per-child tax credit. The things is, if you make under $8500 currently, you already get EVERYTHING withheld from your paycheck each week back in your IRS refund. So what exactly does this accomplish? Well, with credits, if you have more credits than money paid into the system, you get the entirety of the credit anyway. So, a single mother with three kids who works 10 hours a week at minimum wage as a crossing guard (and is eligible to receive welfare, WIC, etc already) and has $500 withheld at the end of the year, will get a check from the IRS in the amount of $3500 instead of her usual $500. Meanwhile, Joe and Nancy Skook, who make $25,000 a piece working as a teaching assistant and fork lift driver, respectively, will get the same amount back for their 3 kids as they would have without this “stimulus”.

(2) People who have at least three children, but make under $32,000 together, and already receive the earned income credit will receive MORE of a credit. This credit works the same as the one I discussed above. They will get back the amount of their credit, not what they put in. This currently results in most families getting $1500 to $3000 more than they contributed in payroll. That will now double.

(3) People in college will receive a $2500 tax credit fot tuition and expenses. Same deal as in #1 and #2. Oh yeah, and those professionals with jobs currently who are seeking graduate degrees in their field so that they can make more in salary, do NOT qualify.

Does this sound like any of you? Does it sound like these people and these plans will help break our economic funk? Don’t worry, you’re not alone, I am still scratching my head, too.

[jlozan84]

where do you get your #s for the stimulus plan? I found a "press release" pdf on the house appropriations website, but based on the title, I feel it is probably misleading.

great post btw.

[MindFreak]

just google "Read Stimulus Package" there is plenty of sites.

here is a pretty good one pdf of it.

http://readthestimulus.org/hr1_text.pdf

[MindFreak]

just google "Read Stimulus Package" there is plenty of sites.

here is a pretty good pdf of it. i believe that is just House version though.

http://readthestimulus.org/hr1_text.pdf

its like 650 pages. have fun lol

[MindFreak]

sorry for the double post.

[JayFive]

Not to get off topic here but I love Mindfreak's nicknames for people. Robert "Third" Reich, priceless.

As it is, I'll comment on the package once I read more about it, haven't had a chance yet.

[jlozan84]

Originally Posted by JayFive

Not to get off topic here but I love Mindfreak's nicknames for people. Robert "Third" Reich, priceless.

As it is, I'll comment on the package once I read more about it, haven't had a chance yet.

that was the moron who said some BS about "need to make sure the jobs don't go to white male construction workers" and then some crap about having a rule about it going to 20% of unqualified women or minorities so they would have to be trained. absolute crap.

[MindFreak]

Originally Posted by jlozan84

that was the moron who said some BS about "need to make sure the jobs don't go to white male construction workers" and then some crap about having a rule about it going to 20% of unqualified women or minorities so they would have to be trained. absolute crap.

yep. this is his exact quote:
”I am concerned, as I’m sure many of you are, that these jobs not simply go to high-skilled people who are already professionals or to white male construction workers…I have nothing against white male construction workers, I’m just saying there are other people who have needs as well.”


so dont give the jobs to high-skilled people who can actually get the job done. give it to an unskilled minority just so they can have a job. that is so brillant. how the hell is this guy in such a high government office? what's next? we have to go to the local crack house for a checkup instead of the doctor just so a minority can have a job?

this is what the american people voted for.

anyway, i want to make a prediction. sometime in the next 4 yrs the unemployment rate will be hit 10%. let's visit this in 4 yrs and see if im right. if im wrong then i'm wrong. but i fear another economy like it was under Jimmy "I Hate Jews" Carter which statistically was the worst since the depression

[jlozan84]

Originally Posted by MindFreak

so dont give the jobs to high-skilled people who can actually get the job done. give it to an unskilled minority just so they can have a job.

Yep, and since they are unqualified, taxpayers will have to pay more so they can be TRAINED. Total waste.

[iko172202]

Originally Posted by jlozan84

yep, and since they are unqualified, taxpayers will have to pay more so they can be trained. Total waste.

+1....

[MindFreak]

"President Barack Obama threw a $75 billion lifeline to millions of Americans on the brink of foreclosure Wednesday, declaring an urgent need for drastic action — not only to save their homes but to keep the housing crisis "from wreaking even greater havoc" on the broader national economy.

The lending plan, a full $25 billion bigger than the administration had been suggesting, aims to prevent as many as 9 million homeowners from being evicted and to stabilize housing markets that are at the center of the ever-worsening U.S. recession."

"President Barack Obama threw a $75 billion lifeline to millions of Americans on the brink of foreclosure Wednesday, declaring an urgent need for drastic action — not only to save their homes but to keep the housing crisis "from wreaking even greater havoc" on the broader national economy.

"The lending plan, a full $25 billion bigger than the administration had been suggesting, aims to prevent as many as 9 million homeowners from being evicted and to stabilize housing markets that are at the center of the ever-worsening U.S. recession.

Government support pledged to mortgage giants Fannie Mae and Freddie Mac is being doubled as well, to $400 billion, as part of an effort to encourage them to refinance loans that are "under water" — those in which homes' market values have sunk below the amount the owners still owe."



Yeah Obama...let's reward the idiots that purchased a $400,000 home when they couldn't even afford to pay the taxes on it. What kind of reward do honest home owners get Mr. Obama? What do hard working tax payers get for paying off their own homes and not living in a fantasy world like you do?

[Hannainnc]

I'm not getting diddly squat.



This stimulus bill hurts employers, it does not help them. One item requires employers to pay 65% of the cost for laid off workers insurance through COBRA...normally the former employee pays 100%. The government says they are subsidizing the COBRA costs, but only by a tax credit that the employer does not see until they file taxes. The problem is that cash flow for employers is a problem, so how does this help the economy? In the end it will result in companies that drop health insurance coverage for their employees alltogether because they can't afford to pay for the insurance for workers who they had to lay off....which helps no one because there is no COBRA eligibility for anyone if the employer drops coverage entirely.

Employers lay off to cut costs, but will incur more costs? I fail to see the logic used by our government here, is it the hope that employers will not lay off...or that employers will need to take out loans to front the government subsidy?

What are economy needs is some f'ing optimism. I'm tired of this great depression crap. The commander and chief should be reassuring the public, not scaring the f out of them everytime he talks.

Don't get me started on the auto-makers...the auto-makers are getting fvcked in the ass over and over...like they should have prepared for this market and forclosure crisis that was caused by BANKs in their failed attempt to profit off of mortgages, encouraging mortgages....including the incentive to provide loans to those with subprime credit. I mean of course it is the fault of the people as well, but ****, this american dream was touted....every one can own a home...bull sh!t, everyone who can afford a home can get one, not just everyone. In California homes went from 120k for an average home to over 500k...no way in hell salaries rose by 317%. People got ARMs at insanely low APRs - back in 02 when the federal rate was sitting at 1.25%, fast forward 5 years and the fed rate is 5.25%, the ARMs adjusted and there goes that easy payment for all those who already bought homes they could not afford. They default, go into forclosure, home prices plummet...even folks with good credit history are letting homes go because why finish paying the bank 500k for a house that is now worth barely 200k? That example does not even consider the ridiculous HELOCs that so many Americans opened.

I'd be hard pressed to not let my house forclose on sheer principle if that sh!t happened to me...in 7 years I'd be golden again. I know that my mentality is the same mentality that's played a part in this situation, but the difference is that I would never buy something I could not afford. The trick to wealth is to live below your means, not above them.

I am completely appalled by what's taken place in the new administration, not all focused toward Obama either, most of my disgust is torward congress, the senate and house, collectively they are a sorry sack of turds. I watched c-span online for days during the deliberations of this stimulus package...I realized that the house of representives is composed of some idiot mother f'ers, senate has their own idiot's as well...three words ... speaker nancy pelosi. Seriously, you all should watch that ****, it's scary to see how little these folks know about what is happening in the "real world".

This stimulus will serve to help the poorest in our county...which is good, but the truth is these people already qualify for help. I feel like it completely leaves out an entire majority of the hurting population. Thankfully, I am not in need of stimulus, but I'd take it if they offered. I mean, I am totally compassionate with those in need, I understand...I was raised by a single mom, so I know that sometimes people need help. But, the help needs to be re-focused toward an actual economic stimulus, not just a welfare system. It is demeaning and insulting that our government is pulling this sh!t on us.

One more thing - CNBC...the world is not ending, shut the fvck up and stop scaring everyone so we can start rebuilding this ****.

Okay, I guess I'll stop ranting now. I've held it in for so long, it all just came out.

[MindFreak]

Originally Posted by Hannainnc

I'm not getting diddly squat.



This stimulus bill hurts employers, it does not help them. One item requires employers to pay 65% of the cost for laid off workers insurance through COBRA...normally the former employee pays 100%. The government says they are subsidizing the COBRA costs, but only by a tax credit that the employer does not see until they file taxes. The problem is that cash flow for employers is a problem, so how does this help the economy? In the end it will result in companies that drop health insurance coverage for their employees alltogether because they can't afford to pay for the insurance for workers who they had to lay off....which helps no one because there is no COBRA eligibility for anyone if the employer drops coverage entirely.

Employers lay off to cut costs, but will incur more costs? I fail to see the logic used by our government here, is it the hope that employers will not lay off...or that employers will need to take out loans to front the government subsidy?

What are economy needs is some f'ing optimism. I'm tired of this great depression crap. The commander and chief should be reassuring the public, not scaring the f out of them everytime he talks.

Don't get me started on the auto-makers...the auto-makers are getting fvcked in the ass over and over...like they should have prepared for this market and forclosure crisis that was caused by BANKs in their failed attempt to profit off of mortgages, encouraging mortgages....including the incentive to provide loans to those with subprime credit. I mean of course it is the fault of the people as well, but ****, this american dream was touted....every one can own a home...bull sh!t, everyone who can afford a home can get one, not just everyone. In California homes went from 120k for an average home to over 500k...no way in hell salaries rose by 317%. People got ARMs at insanely low APRs - back in 02 when the federal rate was sitting at 1.25%, fast forward 5 years and the fed rate is 5.25%, the ARMs adjusted and there goes that easy payment for all those who already bought homes they could not afford. They default, go into forclosure, home prices plummet...even folks with good credit history are letting homes go because why finish paying the bank 500k for a house that is now worth barely 200k? That example does not even consider the ridiculous HELOCs that so many Americans opened.

I'd be hard pressed to not let my house forclose on sheer principle if that sh!t happened to me...in 7 years I'd be golden again. I know that my mentality is the same mentality that's played a part in this situation, but the difference is that I would never buy something I could not afford. The trick to wealth is to live below your means, not above them.

I am completely appalled by what's taken place in the new administration, not all focused toward Obama either, most of my disgust is torward congress, the senate and hosue, collectively they are a sorry sack of turds. I watched c-span online for days during the deliberations of this stimulas package...I realized that the house of representives is composed of some idiot mother f'ers, senate has their own idiot's as well...three words ... senator nancy pelosi. Seriously, you all should watch that ****, it's scary to see how little these folks know about what is happening in the "real world".

This stimulus will serve to help the poorest in our county...which is good, but the truth is these people already qualify for help. I feel like it completely leaves out an entire majority of the hurting population. Thankfully, I am not in need of stimulus, but I'd take it if they offered. I mean, I am totally compassionate with those in need, I understand...I was raised by a single mom, so I know that sometimes people need help. But, the help needs to be re-focused toward an actual economic stimulus, not just a welfare system. It is demeaning and insulting that our government is pulling this sh!t on us.

One more thing - CNBC...the world is not ending, shut the fvck up and stop scaring everyone so we can start rebuilding this ****.

Okay, I guess I'll stop ranting now. I've held it in for so long, it all just came out.

great post.... well said

[BTH]

Columbia Conservative Examiner: Obama's policy flaw similar to Hoover's in 1932