Dear Leader's Trillion Dollar Plan

[Madame Vengier]

Where's the money coming from and what good will it do in the long run? Inquiring minds want to know.

[quote][b]Obama looking at $850 billion jolt to the economy[/b]


WASHINGTON – Anxious to jolt the economy back to life, President-elect Barack Obama appears to be zeroing in on a stimulus package of about $850 billion, dwarfing last spring's tax rebates and rivaling drastic government actions to fight the Great Depression.

Obama has not settled on a grand total, but after consulting with outside economists of all political stripes, his advisers have begun telling Congress the stimulus should be bigger than the $600 billion initially envisioned, congressional officials said Wednesday.

Obama is promoting a recovery plan that would feature spending on roads and other infrastructure projects, energy-efficient government buildings, new and renovated schools and environmentally friendly technologies.

There would also be some form of tax relief, according to the Obama team, which is well aware of the political difficulty of pushing such a large package through Congress, even in a time of recession. Any tax cuts would be aimed at middle- and lower-income taxpayers, and aides have said there would be no tax increases for wealthy Americans.

While some economists consulted by Obama's team recommended spending of up to $1 trillion over two years, a more likely figure seems to be $850 billion. There is concern that a package that looks too large could worry financial markets, and the incoming economic team also wants to signal fiscal restraint.[/quote]

Full article here: [url="http://news.yahoo.com/s/ap/20081217/ap_on_go_pr_wh/obama_stimulus"]http://news.yahoo.com/s/ap/20081217/ap_on_.../obama_stimulus[/url]

[homeschoolmom]

Please just let us keep our own money. Please....

[aalpha1989]

[quote name='homeschoolmom' post='1730783' date='Dec 17 2008, 07:52 PM']Please just let us keep our own money. Please....[/quote]


Not gonna happen. We'll have a 60% income tax in the next 50 years, just like Europe already has.

[CatherineM]

God knows the infrastructure could use the work, but the treasury department is going to have to start printing money on toilet paper at this rate.

[Saint Therese]

Thank you, Dear Leader, for this awesome plan. Yes, Dear Leader, we love you.

[Hassan]

Isin't this what most economists have recomended?

[Saint Therese]

I"m predicting total economic collapse. Yep folks you heard it here first.

[XIX]

[quote name='Hassan' post='1730902' date='Dec 17 2008, 11:11 PM']Isin't this what most economists have recomended?[/quote]
I really have no idea. Is it? You have a source?

Iono how to feel about all of these bailouts. Eh. I could tolerate either way. This whole economy thing is a drop in the ocean compared to the other issues I worry about.

[XIX]

[quote name='Saint Therese' post='1730914' date='Dec 17 2008, 11:26 PM']I"m predicting total economic collapse. Yep folks you heard it here first.[/quote]
No I didn't!

[Hassan]

[quote name='XIX' post='1730919' date='Dec 17 2008, 11:31 PM']I really have no idea. Is it? You have a source?

Iono how to feel about all of these bailouts. Eh. I could tolerate either way. This whole economy thing is a drop in the ocean compared to the other issues I worry about.[/quote]


I believe Paul Krugman

[kujo]

I truly think that improving our infrastructure and dedicating ourselves to looking for and producing alternative energy sources will provide the "stimulus" to this economy. I don't know why it's so hard to understand.

[track2004]

I like infrastructure repairs too. I think this is better than Bush's plan which seemed to be "throw money at it!" which hasn't been working out to well.

As a note most of the $700 bil already set aside hasn't been used and the Bush administration & congress have already admitted the number was just a guess at how much it would take to get this thing going. The current administration hasn't been doing what it needs to with the economy; they're just letting it go and putting a bandaid on it until Obama steps in, which isn't good.

(does anyone know if now that the interest rate is so low my school loans for next year will have a lower interest rate? they are govt loans?)

[Saint Therese]

You can't plan economic improvement on something that doesn't exist yet-alernative energy sources.

[kujo]

[quote name='Saint Therese' post='1731343' date='Dec 18 2008, 02:41 PM']You can't plan economic improvement on something that doesn't exist yet-alernative energy sources.[/quote]

First off, we [i]do[/i] have alternative energy sources. We can throw a lot of weight behind improving the ones we have and searching for and producing new ones. Jobs are jobs, my friend.

[CatherineM]

I was fascinated by the turbines they are placing in the Florida straits. Kind of wind mills for the Gulf Stream. In the book "Logan's Run" their energy was supplied by the force of the surf.