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Politics : Politics for Pros- moderated -- Ignore unavailable to you. Want to Upgrade?

To: KLP who wrote (292074)	2/12/2009 1:38:31 AM
From: Nadine Carroll	3 Recommendations Respond to of 793972

Of course, one of the biggest winners is the president, who scores a major legislative victory only a few weeks after taking office That remains to be seen. He got something through, but it wasn't under his guidance and it was with solely Dem support. He just went out and said a bunch of rubbish to sell it. Even most Dems can understand that just any spending isn't stimulus, and there's a whole lotta just any spending in this monstrosity. Remember, Cliinton got his first budget through with just Dems. It was arguably more "his" bill than this is Obama's, yet it is remember now as a sign of weakness for his administation, not strength.

To: KLP who wrote (292074)	2/12/2009 10:31:55 AM
From: skinowski	Read Replies (1) \| Respond to of 793972

Stimulators - They earmarked A amount of money for this, B for that, and C for another thing... and so on. All of the money to be spent was borrowed, or created from thin air - in fact, diluting the value of existing wealth. All of it will be spent in accordance with the influence and political connections of the recipients. The great hope is that if you throw a trainload of money into the system, that will lead to an increase in buying, selling - and, therefore, manufacturing, and generally an increase in GDP. As this activity [hopefully] acquires momentum of its own, the economy will recover and growth will resume. This worked several times in the past - that's why we are doing it again now. This time it will probably fail. Too many recipients of government's largesse will simply save the cash - or pay down debt. The Big Bull is out of bubbles, and the Bear will need to run its course.