Sweep of the pen, the President and Democrats, created the largest welfare state..
- Thread starter Equity Trader
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- Feb 12, 2000
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Yo this cherry is as big as a baseball. We better hope it's big enough. I say that only because these great economist now say Japan did not go big enough in 90's and screw them self over for 10 years. Time will tell. But none of it matters if the banks don't join in and play ball.
At least there trying to spend it on Americans instead of Iraq.
At least there trying to spend it on Americans instead of Iraq.
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bbc
i dont get it
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the only thing that keeps me sane is that you dont get it either
Peace out brother
I think your in right church with Japan but in wrong pew on economist.
The Stimulus follows the same plan that ruined Japan?s economy
Japan, after a dramatic market crash and a drop in real estate prices responded with government spending not unlike what the US Congress is considering today. In fact, they had 10 stimulus bills between 1992 and 2000, spending billions on infrastructure construction, building bridges, roads, and airports as well as pouring money into biotech and telecommunications. While many countries enjoyed booming economies and falling unemployment during this time, Japan had a lost decade, seeing its unemployment more than double. They spent double the US level of GDP on infrastructure, and now have a lousy economy and have one of the highest national debts in the world.
After 10 stimulus packages, Japan has gone from having the second biggest economy in the world by a long shot, to being well behind the new number two, China, and is close to falling behind India. We do not want to follow their lead.
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You and I are lucky DJV--we won't be funding this fiasco--however I can almost quarantee you when he finally gets to the cut in spending he/his party promised--it will be ssn and Medicare,
When he referred "we all have to sacrifice"--It's obvious from this bill it wasn't his -social welfare base he had in mind--as he has turned back the clock on welfare reform---and that only leaves the tax payors.
:0corn
This is my second favorite part of this thread.
Now they own us. Last week, we were free, but now we're shackled
Exactly, and this stimulus package is just like what Japan did. If we want to have the same kind of Economy that Japan had in the 90's all we need to do is put out this stimulus package, watch it fail and do it all over again. That is exactly where this administration is headed.
kneifl
States eager to start spending stimulus money
COUNCIL BLUFFS, Iowa (Reuters) ? The lightly traveled stretch of road on the outskirts of a small Midwestern city may look like a minor two-lane street.
But local officials see the rutted road as a prime candidate for a $2.5 million face-lift, paid for by the federal government.
Council Bluffs, Iowa, is one of hundreds of U.S. communities eager to tap into an expected flood of money from the economic stimulus bill meant to combat the recession.
"It is going to create a lot of jobs, immediate jobs, right now," said Council Bluffs Mayor Tom Hanafan, who met with city planners and business leaders to craft $229 million in project proposals for the community of about 62,000.
On Friday, the U.S. Congress passed a compromise version of a $789 billion stimulus bill aimed at reviving the reeling U.S. economy. President Barack Obama is due to sign the measure on Tuesday.
The American Recovery and Reinvestment Act is aimed at reversing a deep recession in part by putting people to work. Infrastructure funds -- estimated at about $120 billion -- are earmarked for construction projects, including highways and bridges, transit systems and airports.
"This is the heart and center of the economy -- construction -- so it is important to get some of those jobs there," said Dean Baker, co-director at the Center for Economic and Policy Research consulting firm in Washington.
State and local leaders say the word from the White House is that the money should be spent quickly, preferably in ways that spur economic development and create jobs within a short period of time.
Around the country, small towns and big cities are rushing to comply, crafting an array of project proposals.
"Our plan foresees $1.5 billion in work that would employ roughly 45,000 people, exactly the kind of goal that President Barack Obama set," Pennsylvania Governor Edward Rendell said last week, as he outlined $443 million in proposed bridge work.
In California, among the states hardest hit by recession, there are $44 billion in "shovel-ready" infrastructure projects to pick from. The wish list includes $200,000 for a bicycle locker building with showers for bike commuters in Sonoma County and a $300 million civic center in Tulare County.
Cincinnati, Ohio, city leaders have $333 million in projects they say could create 3,700 jobs, including a $5.2 million airport upgrade they say would create 60 jobs and $2.5 million for street improvements in a low-income area that could create 53 jobs.
Fort Worth, Texas, officials want to use $471 million for a regional rail project and $177 million to improve the city sewage system.
UNEMPLOYMENT
In Iowa, where creeping unemployment is starting to take a toll, officials have a list of more than 4,000 economic development projects that could be started quickly with adequate funding. Last summer, widespread flooding in the farm state damaged infrastructure.
Governor Chet Culver proposed that the state spend $700 million of its own money on a range of job-creating, economy-boosting projects to supplement federal money.
In Council Bluffs, the city hopes to spend stimulus dollars developing a riverfront area with commercial space and housing at a cost of $24.5 million, including paychecks for 230 construction-related workers.
Most immediate, though, is the one mile rural road outside town. Transportation funds of $2.9 million have already been earmarked by the Iowa Department of Transportation to pass along to Council Bluffs when federal money arrives.
About $2.5 million will be spent to improve the road circling around the town's community college. As the college grows, it will likely become a busy thoroughfare, Council Bluffs public works director Greg Reeder said.
In a typical year, Council Bluffs receives about $1 million from the Iowa transportation department, he said, so the stimulus money would be a big bonus.
"Will it help boost Council Bluffs overnight? No," Reeder said. "But we are trying to find projects that will pay long-term dividends."
(Reporting by Carey Gillam, additional reporting by Andrea Hopkins in Cincinnati, Ed Stoddard in Dallas, and Peter Henderson in San Francisco; Editing by Peter Bohan and Stacey Joyce)
COUNCIL BLUFFS, Iowa (Reuters) ? The lightly traveled stretch of road on the outskirts of a small Midwestern city may look like a minor two-lane street.
But local officials see the rutted road as a prime candidate for a $2.5 million face-lift, paid for by the federal government.
Council Bluffs, Iowa, is one of hundreds of U.S. communities eager to tap into an expected flood of money from the economic stimulus bill meant to combat the recession.
"It is going to create a lot of jobs, immediate jobs, right now," said Council Bluffs Mayor Tom Hanafan, who met with city planners and business leaders to craft $229 million in project proposals for the community of about 62,000.
On Friday, the U.S. Congress passed a compromise version of a $789 billion stimulus bill aimed at reviving the reeling U.S. economy. President Barack Obama is due to sign the measure on Tuesday.
The American Recovery and Reinvestment Act is aimed at reversing a deep recession in part by putting people to work. Infrastructure funds -- estimated at about $120 billion -- are earmarked for construction projects, including highways and bridges, transit systems and airports.
"This is the heart and center of the economy -- construction -- so it is important to get some of those jobs there," said Dean Baker, co-director at the Center for Economic and Policy Research consulting firm in Washington.
State and local leaders say the word from the White House is that the money should be spent quickly, preferably in ways that spur economic development and create jobs within a short period of time.
Around the country, small towns and big cities are rushing to comply, crafting an array of project proposals.
"Our plan foresees $1.5 billion in work that would employ roughly 45,000 people, exactly the kind of goal that President Barack Obama set," Pennsylvania Governor Edward Rendell said last week, as he outlined $443 million in proposed bridge work.
In California, among the states hardest hit by recession, there are $44 billion in "shovel-ready" infrastructure projects to pick from. The wish list includes $200,000 for a bicycle locker building with showers for bike commuters in Sonoma County and a $300 million civic center in Tulare County.
Cincinnati, Ohio, city leaders have $333 million in projects they say could create 3,700 jobs, including a $5.2 million airport upgrade they say would create 60 jobs and $2.5 million for street improvements in a low-income area that could create 53 jobs.
Fort Worth, Texas, officials want to use $471 million for a regional rail project and $177 million to improve the city sewage system.
UNEMPLOYMENT
In Iowa, where creeping unemployment is starting to take a toll, officials have a list of more than 4,000 economic development projects that could be started quickly with adequate funding. Last summer, widespread flooding in the farm state damaged infrastructure.
Governor Chet Culver proposed that the state spend $700 million of its own money on a range of job-creating, economy-boosting projects to supplement federal money.
In Council Bluffs, the city hopes to spend stimulus dollars developing a riverfront area with commercial space and housing at a cost of $24.5 million, including paychecks for 230 construction-related workers.
Most immediate, though, is the one mile rural road outside town. Transportation funds of $2.9 million have already been earmarked by the Iowa Department of Transportation to pass along to Council Bluffs when federal money arrives.
About $2.5 million will be spent to improve the road circling around the town's community college. As the college grows, it will likely become a busy thoroughfare, Council Bluffs public works director Greg Reeder said.
In a typical year, Council Bluffs receives about $1 million from the Iowa transportation department, he said, so the stimulus money would be a big bonus.
"Will it help boost Council Bluffs overnight? No," Reeder said. "But we are trying to find projects that will pay long-term dividends."
(Reporting by Carey Gillam, additional reporting by Andrea Hopkins in Cincinnati, Ed Stoddard in Dallas, and Peter Henderson in San Francisco; Editing by Peter Bohan and Stacey Joyce)
What's your third favorite?
:142lmao: :142lmao: :142lmao:
kneifl
You are right Dj. Every economist worth a salt talks about a stimulus plan needs to be done. Then u have the nickel and dime economist like Kneifl who has been wrong about anything he post. Isn't this nickel and dime ignorantly misguided economist presently looking for a job?:142smilie
You're quite a funny guy sponge. Do you know anything about the Economy? It controls itself for the most part and goes in peaks and valleys. The last thing Economists want is government interference, the fed changing the interest rate, etc. It might help you to watch CNBC every once in a while if you're really interested. You'll get economic and political perspectives from both sides as well. BTW, who cares if I was looking for a job, I just had major surgery in August and my Doctor cleared me to go back to work in early January. Also, I have had 2 job offers in the last week and a half and wouldn't be surprised if I got a third next week. Although, I've made up my mind on one.
kneifl
off the top, I can think of many distinguished economists who are against a stimulus plan:
Gary Becker, the 1992 Nobel economics laureate
Kevin Murphy, a MacArthur Fellow, is an economics professor at the University of Chicago
Robert Barro at Harvard. Makes some strong remarks here.
Martin Feldstein,Professor of Economics at Harvard University, and the president and CEO of the National Bureau of Economic Research (NBER)---to be fair, he's just against this stimulus package.
John Cochrane of the University of Chicago, his recent piece is being very widely discussed among economists.
Tyler Cowen, the Holbert C. Harris Chair of economics as a professor at George Mason University
Eugene F. Fama, University of Chicago Booth School of Business
Kenneth R. French, Professor of Finance at the Tuck School of Business at Dartmouth College
-- these last 2 fellows posted excellent piece here
and the editorial above by Varok contains some very important lessons from the Great Depression--lessons most folks still have very wrong...read here "How Government Prolonged the Depression"
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gonna be a LONG 4 years listening to you guys rooting against your country.
It's very sad.
Terryray - Saw a presentation by Erik Hurst at U of Chicago a couple of weeks ago. Very engaging guy - especially for an economist. I would assume that he's probably against this stimulus but not against all stimulius.
kneifl - aren't you in sales?
- Feb 12, 2000
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gonna be a LONG 4 years listening to you guys rooting against your country.
Are you being serious? Having a hard time reading whether that has sarcasm or not.
not talking about you. why would you even think that?
def talking about one of my best friends in the whole world that started this thread
starting my tito's now :00hour
