Obama: "Spend our way out"

[Hellgate]

I'm appalled, but not surprised in the least. New Obama plans: 'spend our way out' of downturn - Yahoo! News

Over spending is what got us in this mess, now we are going to keep adding fuel to the fire.

I heard a figure that for each so called new job created the cost was $21 million dollars each. Now Obama wants to give employers a tax credit for hiring. The problem isn't the cost of labor it's the fact that there is no demand for goods, everyone is gun shy and hedging their bets. The best thing the administration can do it establish sound policy to gives the markets and employers a clear picture on the coming economic climate.

Here's another tid-bit to chew on, while the government "created" 600,000 jobs, 4,000,000 people were hired. Hummmm, there is a ton of job churn right now. In my office I have two attorneys who found new, better positions and are moving on, both in private sector, leaving government jobs. More power to them.

So if 2/3rds of the stimulus has not been spent and the banks have paid back a larger percentage of TARP, do we need more money spent on "governement programs"?

Back to work.

 

[Wavex]

Obama proposed a package of new spending for highway, bridge and other infrastructure projects, deeper tax breaks for small businesses and tax incentives to encourage people to make their homes more energy efficient.

Are these what you call "Gov Programs"? What's wrong with this plan? What should the Gov do with the TARP money that's coming back if not re-invest it in the country's infrastructure?

 

[Hellgate]

Are these what you call "Gov Programs"? What's wrong with this plan? What should the Gov do with the TARP money that's coming back if not re-invest it in the country's infrastructure?

Good point. I agrued for spending on better heat/cooling and insulation from day one. That is much for effective at creating jobs and saving fuel than any wind or solar project. The catch, because we looked into this, it there was an income limit. Even UNEMPLOYED we made too much money to get into the program. The people who own houses tend to be in a higher income bracket. As far as bridges and other highway projects all I've seen so far is a massive repaving of streets, most of which didn't need repaving. If we are going to build new bridges, good lets do that, but not waste time and money on repaving project as they not infarstructure but maintenace.

I think the money should go back into the treasury. I think unemployment benefits should be extended if needed, and the COBRA program should be extended.

I do not think that artifical economic stimulation will help in the mid to long term.

The economy has come a long way, has shown growth, most of which was not a result of government programs. The only way an ecomomy can be healthy is to have growth come from business, not government as government does not produce anything, only private business can do that.

Side note on the stimulus package is the money is given to the states without earmarks, both good and bad. Once the states receive the money they have a very short period of time to send it on to the counties and cities. Then they have X amount of time to spend it on a given project; hence repaving of roads vs. bridges, etc. With my new job I've got insight into some of the money juggling I can't post up.

Damn it I keep clicking the edit button and writing instead of the reply button! David you almost had my reply in your post!

 

[Cuba]

Are these what you call "Gov Programs"? What's wrong with this plan? What should the Gov do with the TARP money that's coming back if not re-invest it in the country's infrastructure?

Because using money intended for Troubled Asset Relief Funds on your own pet projects, without running it through congress and voting on it, is a stretch. The loans for small businesses are fine, and should have been made last year anyhow, but using TARP funds for spending on more "stimulus" projects, when you still have 2/3rds of your "stimulus" fund unused and unassigned, is getting a little greedy even for Obama.

 

[wrightme43]

Any job that the government creates is a cut flower in a sense. It is not a creation of wealth only moving money from one to another.

A small business, takes materials adds labor/value and makes a profit. That profit is spent on items produced by other business using material adding labor/value. The government can only take money from those who make money. It can spend that money on projects using material, adding labor/value but it does not make a profit off of that money. It doesnt create wealth it only moves it from one hand to another while skimming a large percentage off in salary for the people distrubuting the money that was taken from those who work for it.

The Government can not spend up and out of this.

We have been running a increasing GDP based on credit for 50 years. Pulling forward demand. Credit has hit the wall. For the first time since the last depression outstanding credit is decreasing in the US. Other countries are leaving our bond offering sitting on the table. Its not a Obama/Bush thing. Its a lying bunch of con artists on both sides of the government.

 

[Tailgate]

Its not a Obama/Bush thing. Its a lying bunch of con artists on both sides of the government.

Ain't that the truth! Anybody notice recently that everything--and I mean everything---is manufactured in China?

 

[Hutchmaster34]

I completely agree, our government is FUBAR, Left, right it doesnt matter they are all liars, i was unemployed under bush, and i'm currently unemployed under obama, i see no change in the economy.

I almost forgot, the US dollar is already getting weaker and weaker, throwing money around is just gonna increase inflation