Most Americans Expect Economic Plans To Waste Money

Discussion in 'Politics' started by Revmitchell, Feb 12, 2009.

  1. Revmitchell

    Revmitchell
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    Fifty-two percent (52%) of Americans say it is very likely that a large amount of taxpayer money in the proposed bank bailout plan and the new economic recovery plan will be wasted, due to inadequate oversight by the government.

    Another 27% say it is somewhat likely - despite claims by President Obama and Treasury Secretary Timothy Geithner, among others, that there will be unprecedented transparency to show how the money is spent.

    Just 12% think it is not very likely taxpayer money will be wasted, and only two percent (2%) say it is not at all likely, according to a new Rasmussen Reports national telephone survey. Eight percent (8%) aren’t sure.


    More Here
     
  2. chuck2336

    chuck2336
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    I say a huge amount will be wasted!
     
  3. KenH

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    Of course some money will be wasted. Money is wasted everyday in private enterprise spending. It is no different in public spending.
     
  4. canadyjd

    canadyjd
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    There is a big difference.
    A private company wastes its own money.
    The government wastes other people's money, and has no incentive to change.

    peace to you:praying:
     
  5. JustChristian

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    The size of the proposed bailout is about the size of the bailout pushed through by Bush. I assume you believe that Bush's plan was wasteful too. In fact it's already been revealed that Paulson shortchanged the taxpayers by $87B. I wonder who got that money?
     
  6. JustChristian

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    Here's an example of a bailout that already seems to be working. I hope Obama's does the same.


    China’s Economy Shows Signs of Recovery on Stimulus


    Feb. 13 (Bloomberg) -- China’s economy is showing signs that a 4 trillion yuan ($585 billion) stimulus package is taking effect.

    The world’s third-biggest economy may expand 6.6 percent in the second quarter after slowing to 6.3 percent in the three months to March 31, the weakest pace since 1999, according to the median estimates of 14 economists surveyed by Bloomberg News.

    China is trying to reverse an economic slide that has already cost 20 million jobs, raising the risk of social unrest as exports plunge and the property market sags. Spending on roads railways and housing has increased prices for iron ore, put a floor under industrial output and helped to drive a record $237 billion of new loans in January.

    “China looks set to be the first major economy to recover from the current global meltdown,” said Lu Ting, an economist with Merrill Lynch & Co. in Hong Kong. “China is the only economy in the world to see significant growth in credit to corporate and household sectors after September 2008, when the financial crisis worsened to a near collapse.”

    The government’s stimulus plan, announced in November, is beginning to gather momentum. Projects such as the building of 3.5 billion yuan of public houses in Shaanxi province and Shanghai began in December, while Shandong province started work on three new railway lines the same month.

    China is committing about 1.2 trillion yuan of central government funds to the plan, which means banks’ willingness to fund projects is crucial. So far they are responding.

    http://www.bloomberg.com/apps/news?pid=20601087&sid=ai0cU_72bPpU&refer=home
     
  7. saturneptune

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    And what do you expect since both parties are equally inept and lead by power hungry idiots that have no idea what it means to serve the American people.
     

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