Stimulus Projects May Be Slow, CBO Says

Discussion in 'Politics' started by Bro. Curtis, Jan 21, 2009.

  1. Bro. Curtis

    Bro. Curtis
    Expand Collapse
    <img src =/curtis.gif>

    Joined:
    Oct 25, 2001
    Messages:
    20,240
    Likes Received:
    2

    Less than half the money dedicated to highways, school construction and other infrastructure projects in a massive economic stimulus package unveiled by House Democrats is likely to be spent within the next two years, according to congressional budget analysts, meaning most of the spending would come too late to lift the nation out of recession.
    A report by the Congressional Budget Office found that only about $136 billion of the $355 billion that House leaders want to allocate to infrastructure and other so-called discretionary programs would be spent by Oct. 1, 2010. The rest would come in future years, long after the CBO and other economists predict the recession will have ended.



    http://www.washingtonpost.com/wp-dyn/content/article/2009/01/20/AR2009012003980.html?hpid=topnews




    But Obama will take the credit anyway, and the media & his cult will allow it.
     
  2. KenH

    KenH
    Expand Collapse
    Active Member

    Joined:
    May 18, 2002
    Messages:
    32,485
    Likes Received:
    0
    From the article:

    "if states were given a different deadline for spending highway money, analysts predict the spend-out rate would be accelerated significantly."
     
  3. Bro. Curtis

    Bro. Curtis
    Expand Collapse
    <img src =/curtis.gif>

    Joined:
    Oct 25, 2001
    Messages:
    20,240
    Likes Received:
    2
    Does that somehow negate the point of the article ?
     
  4. Enoch

    Enoch
    Expand Collapse
    New Member

    Joined:
    Mar 12, 2004
    Messages:
    1,267
    Likes Received:
    0
    Sorry off topic

    Bro. Curtis, I just saw your Larry Norman lyrics. As soon as I read it I remembered the movie "A Thief in the Night"...Cool song! I didn't really know much about Norman...interesting guy.

    Here is the you tube video of the song
    http://www.youtube.com/watch?v=X1FcTKNXlO0
     
  5. Dragoon68

    Dragoon68
    Expand Collapse
    New Member

    Joined:
    Nov 30, 2003
    Messages:
    4,511
    Likes Received:
    0
    The "stimulus package" is just a "spending package". It will have to be paid back with taxes - lots of taxes.

    The economy will recover in direct proportion to how quickly and strongly consumers and businesses have renewed confidence in the exchange of goods and services.

    The less the government does to the economy the better. They are a primary cause of the problem - something they seem to excel at doing - and their track record for solving such problems is dismal. In the mean time they'll get a lot of play money to foster their grandiose ideas.

    Of course, if it doesn't improve then the blame will continue to be laid on the Bush administration but, if it does improve, then the Obamanites will take full credit even though they'll have just added to our deficit and done nothing to help the economy.

    Our economy has been strong enough to carry the burden of government excess and waste as well as the skimming that goes on in the private sector. It might be able to sustain that a bit longer but I think the margins are getting tighter all the time much like they are in the real business world. There's just not as much fat left to feed the leeches in Washington even an hungry as they are.
     
  6. LeBuick

    LeBuick
    Expand Collapse
    New Member

    Joined:
    Jun 8, 2006
    Messages:
    11,537
    Likes Received:
    0
    You sound like Coolige and Hoover... They both repeated these Capitalist/Freemarket theories while holding the wheel and driving the country into the great depression. I hope we try something different this time because history says that method didn't work.
     
  7. LeBuick

    LeBuick
    Expand Collapse
    New Member

    Joined:
    Jun 8, 2006
    Messages:
    11,537
    Likes Received:
    0
    I have been seeing this all over the web also. I also see the Republican's demanded a meeting with Obama tomorrow to discuss this point. It is normal for the president to send a very rough skeleton of a plan to the house since they were going to hack it up anyway. If you recall, the first bailout plan Bush sent was a one pager which turned to 120 before the first vote.

    I find this to be a smart tactic by Obama, this way the GOP will push up the spending dates so he is sure to get their support for the plan. Let's watch and see how this thing unfolds...
     
  8. Bro. Curtis

    Bro. Curtis
    Expand Collapse
    <img src =/curtis.gif>

    Joined:
    Oct 25, 2001
    Messages:
    20,240
    Likes Received:
    2
    FDR taught us intervention doesn't work. Europe came out of the depression 8 years before we did. FDR was a disaster.

    Why does everybody leave Barney Frank's refusal to co-operate out of this ? I can't believe you are that dishonest, or ignorant. But the proof has been put up enough times.
     
  9. LeBuick

    LeBuick
    Expand Collapse
    New Member

    Joined:
    Jun 8, 2006
    Messages:
    11,537
    Likes Received:
    0
    Barney is quickly becoming an outsider even in his own party. The objective is to see government corporate for the common good of the nation and he is clearly a hindrance to making that happen.

    From what I see, there will be ultra conservatives on the far right and ultra liberals like Franks on the far left. Then there will be the effective portion the house who will be getting things done in the middle leaving those on the far left and right mad.

    Haven't you noticed Peloci had been relatively quite...
     
  10. KenH

    KenH
    Expand Collapse
    Active Member

    Joined:
    May 18, 2002
    Messages:
    32,485
    Likes Received:
    0
    Yeah, they started arming for war and fighting in World War II before the United States did. World War II was a massive government spending program that cranked up the economy. We don't want a war to do that today but we do need a massive government domestic spending program to crank up the economy.
     
  11. targus

    targus
    Expand Collapse
    New Member

    Joined:
    Feb 10, 2008
    Messages:
    8,459
    Likes Received:
    0
    Ken, why didn't the war in Iraq keep us out of recession then?
     
  12. Revmitchell

    Revmitchell
    Expand Collapse
    Well-Known Member

    Joined:
    Feb 18, 2006
    Messages:
    38,270
    Likes Received:
    777
    Common sense break:



    You cannot spend your way out of debt.[​IMG]



    Now back to your regular scheduled program.
     
  13. LeBuick

    LeBuick
    Expand Collapse
    New Member

    Joined:
    Jun 8, 2006
    Messages:
    11,537
    Likes Received:
    0
    The idea is not to spend our way out of debt, the idea is to encourage the eagle to shift hands with Government making the first step. We've tried tax breaks over the last 8 years and you see things are only getting worse. Why not give something else a try?
     
  14. carpro

    carpro
    Expand Collapse
    Well-Known Member

    Joined:
    Oct 14, 2004
    Messages:
    20,894
    Likes Received:
    294
    It's not a "stimulus" package. Just a government spending spree that will do less than nothing to end the recession.
     
  15. KenH

    KenH
    Expand Collapse
    Active Member

    Joined:
    May 18, 2002
    Messages:
    32,485
    Likes Received:
    0
    Spending hundreds of billions of dollars in Iraq does not equal spending hundreds of billions of dollars in the United States.
     
  16. carpro

    carpro
    Expand Collapse
    Well-Known Member

    Joined:
    Oct 14, 2004
    Messages:
    20,894
    Likes Received:
    294
    Quote:
    Originally Posted by targus
    Ken, why didn't the war in Iraq keep us out of recession then?


    :laugh:

    A very poorly thought out answer to a good question. Wanna try again?
     
  17. Revmitchell

    Revmitchell
    Expand Collapse
    Well-Known Member

    Joined:
    Feb 18, 2006
    Messages:
    38,270
    Likes Received:
    777
    We have spent and spent over the last 8 years. We have give government loans to people who are not qualified for home loans and hyper-inflated the housing market. Now those loans went bad and the ball started rolling. Add to that we have quit producing in this country. Labor costs and excessive taxes have driven business out of the US. The government seems to think that American business is a bottomless pot of money to fund what ever whim enters their mind. Where we are at today has nothing to do with tax breaks. All this spending has been tried for the last 8 years. And it the very reason we are where we are today.
     
  18. LeBuick

    LeBuick
    Expand Collapse
    New Member

    Joined:
    Jun 8, 2006
    Messages:
    11,537
    Likes Received:
    0
    It is not that we spend over the last 8 years, it is what we spent on and who profited that was the problem. Bush continually cut taxes on those who could afford to pay but it translated to record unemployment. This spending is designed to put people to work, not paying people to put folks to work only to see them pocket the money...
     

Share This Page

Loading...