Someone explain how putting our country $800 billion in the hole will help us.

[yokinazu]

i like what nader said about it:

5000 trillion dollars worth of stock are traded eveery year on the market TAX FREE, a .1% tax would generate somethin like 500 billion dollars a year.theres your stimulis package.

yokinazu Reviewed by yokinazu on 02-26-2009. Someone explain how putting our country $800 billion in the hole will help us. Ok, so I am a bit of an economic retard. I don't know much about the economy or finances or all that jazz. What I do know however, is that the value of our currency is directly related to the amount of currency in circulation. I also know that the value of our currency is slipping. From what I have heard, the purpose of Obama's stimulus package is to save the banks and thus the entire economy from collapsing. So now here is my question. Actually it is a series of questions. Where the Rating: 5

[GoldenBoy812]

i like what nader said about it:

5000 trillion dollars worth of stock are traded eveery year on the market TAX FREE, a .1% tax would generate somethin like 500 billion dollars a year.theres your stimulis package.

There is no way $5 quadrillion is traded every year, because there does not exist that total sum of wealth on the planet, let alone in equity markets. Which goes to show Nader is a moron. The US stock markets alone would be lucky to eclipse $50 trillion, and if you combine all forms of securities maybe, a big maybe, a grand total of $100 trillion. Of course, that does not assume $100 trillion in wealth, only that the same $10 trillion or so is traded 10 times per year on average.

The point of a stimulus package is to push aggregate demand towards full employment GDP, which in the US is around 4%. To do so, we are going to need an instant injection of 4% of total US GDP to have that possibility (assuming the multiplier is in fact 2).

[Rusty Trichome]

From what I have heard, the purpose of Obama's stimulus package is to save the banks and thus the entire economy from collapsing.

That's what he say's, but take a look at those he placed in the position of authority over commerce, finance and banking. The same morons that got our policy to be so subversive to our nations interests in the first place. (ACORN's pressure to demand loans to indigents, for instance (an Obama affiliate)) Best way to avoid investigation, is to place those that broke the public's trust, in charge of enforcing monetary law. Crooks and tax evaders.
There will be a backlash...there always is.

Where the hell is this $800 billion coming from?

Fiat valuation Running on the fiat system of currency valuation...apparently it doesn't really need to come from anywhere...it's just numbers. (ones and zeros) But since they (the numbers) are so subjective, I can't wait to see next-years state of the union address, where he says he already cut the deficit in half. (yet all he has done was to spend 2 trillion dollars on community reindoctrination projects and fish farms) If you can't fix their ills, tell them you are on the verge...ought to keep the liberal sheep in line till just before the next election cycle, when he will introduce a new-deal czar (Sen. Byrd) chock-full of infrastructure projects and buy-offs, lol. :thumbsup:

[yokinazu]

5000 that was a type o it was suposed to be 500, and no there ist that much wealth but a stock can be traded multiple times. a dollar is worth a dollar but if you trade 10 times thats 10 dollars bein traded. also my numbers may be scewed some but it is a shit load of money that can be generated. it was a long time ago i seen that and im goin from memory

[jonquest]

the idea is that printing/borrowing money and giving it to people for building bridges/roads and other crap will stimulate the economy. it's not a good idea, but that's the idea.

[JaggedEdge]

The stimulus package is meant to buy more time for them so that they can come up with a more effective plan for the long term. Creating money does in fact de-value the dollar but this stimulus package is literally just a dent in regards to inflation. I don't expect future stimulus packages. Maybe one more but other than that I expect them to find results with the time that they just bought themselves.

It doesn't sound like a good idea to spend that much money in order to buy more time for these morons in office to "figure something out." Also, there is no defending the vast number of earmarks in these bills.

You admit they don't have a solution yet! Why spend this kind of money in order to make things worse when these dim wits can't come up with a reasonable solution. That is like your 60 in' tv breaking, you bringing it to the repair man and him saying, "Well sir, I'm not exactly sure how to fix this darn thing, but if your willing to pay $500,000 I'm fairly sure I will be able to figure something out before your bankrupt."

[JaggedEdge]

What Obama is talking about now is increasing the taxes and looking at the budget to see what cut backs need to be made. Right now he's considering international cut backs which is a great idea but he's also looking into the national system and finding out where the most money is being wasted. Increasing taxes while making cut backs that is the least damaging to citizens is the best way to come crashing. So as absurd as a stimulus package may seem its much better than the alternative of letting everything crash while trying to manage raising taxes and decreasing spending. The government is establishing breathing room for themselves.

Kind of sucks being in charge sometimes....

Sorry I can't believe I forgot to comment on this little gem.

Tax increases and budget cuts!!? How about not spending a trillion dollars? Than they even discuss cutting the military budget in the middle of two wars, not to mention the growing tensions with China, N. Korea, and the growing conflicts between Israel and Gaza.

They gave out billions to organizations like ACORN. It pisses me off you have the nerve to talk about cutting spending in the same post you defend spending a trillion dollars.

You want another possible solution. Don't spend trillions and instead simply make spending cuts. Leave the market alone for a while and see if the American people can fix it themselves. We don't need these schmucks meddling in every little problem. We don't need to micromanaged.

[5thHorseMan]

considering that american consumers were taken in by all the subprime lenders, and allowed their long term savings to used to buy stock, rather than sit and earn interest. I'd say that leaving the situation to them isn't any better, than whats happening.

[MPLSweedman]

the ONLY thing obama knows how to do is spend money

he FORCES bills through, doesnt give ANYONE time to read them

ive said it before and ill say it again, its all being done on purpose to make EVERYONE under the middle class line so that EVERYONE wants government in their lives

obama is a huge socialist, ive been saying it for 6 months, no one listened, here's where we are


FYI LIBS

only 23% of the 800bil is being spent in 2009

the rest.... after 2011, so there, stimulus???? try spendulus

[VapedG13]

Bail out the banks... give them billions...then some of those same banks who issued credit cards to people are screwing them over left and right after recieving the money. http://finance.yahoo.com/banking-bud...H7lDmVvhUazJV4