Obama plans $700 billion stimulus package

KM · 11-27-2008, 01:55 PM

http://news.yahoo.com/s/afp/20081124...yobamapolitics

Quote:

US President-elect Barack Obama and his Democratic allies in Congress are preparing plans for a second massive economic stimulus program that could total as much as 700 billion dollars over the next two years, The Washington Post reported Monday.

Kev

**Freak** · 11-27-2008, 05:12 PM

I hate the news.

redfirebirdowner · 11-27-2008, 05:20 PM

I hate the word ECONEMY!!!!!!!!!!!! If thats even damn spelt right...I dont care,I just hate it.

**Freak** · 11-27-2008, 05:25 PM

Economy* :)

redfirebirdowner · 11-27-2008, 05:31 PM

Haha Thanks freak, I knew I could count on you;P haha

**gringo220** · 11-28-2008, 12:12 AM

Well the first 600 dollars didn't do **** so how is another 600 gonna do something.

My buddy had a good idea for this package. There's 160 million house holds in the US. Give each house hold 1 million dollars and let them pay off their mortages and bills. No one would have to file for bankruptcy in fear of losing their houses or vehicles. That's just a dent in the package so give the rest to the big 3 and banks, let us put money back into the economy how we see fit. All these companies have made a ton of mistakes and put a hurting on the rest of us so give the people a chance and let us make a mistake for once! To bad it will never happen though.

KM · 11-28-2008, 01:06 AM

Yep, the media only lets us in on half of what's going on. Usually the negative.

Everything needs to get a lot worse before it gets better. Seeing this only coincides with that thought.

Quote:

Originally Posted by gringo220

My buddy had a good idea for this package. There's 160 million house holds in the US. Give each house hold 1 million dollars and let them pay off their mortages and bills. No one would have to file for bankruptcy in fear of losing their houses or vehicles. That's just a dent in the package so give the rest to the big 3 and banks, let us put money back into the economy how we see fit. All these companies have made a ton of mistakes and put a hurting on the rest of us so give the people a chance and let us make a mistake for once! To bad it will never happen though.

If only it was that easy. No one is genuine, not one single person. By lending out money like that, you make the assumption that everyone will save and spend the money on their mortgages and bills. What happens if they decide to buy a new car? Accessories? The hole we're in now...gets deeper. I think the economy will reconstitute, it's just a means of how long.

**allstar** · 11-28-2008, 04:43 AM

Thomas Jefferson always said that every 40 years, we should over throw the government, if not they will become to powerful, and start to crumble. Well that has happened. So who wants to help over throw it?

**gringo220** · 11-28-2008, 09:53 AM

Quote:

Originally Posted by gringo220

Well the first 600 dollars didn't do **** so how is another 600 gonna do something.

My buddy had a good idea for this package. There's 160 million house holds in the US. Give each house hold 1 million dollars and let them pay off their mortages and bills. No one would have to file for bankruptcy in fear of losing their houses or vehicles. That's just a dent in the package so give the rest to the big 3 and banks, let us put money back into the economy how we see fit. All these companies have made a ton of mistakes and put a hurting on the rest of us so give the people a chance and let us make a mistake for once! To bad it will never happen though.

Quote:

Originally Posted by KM

If only it was that easy. No one is genuine, not one single person. By lending out money like that, you make the assumption that everyone will save and spend the money on their mortgages and bills. What happens if they decide to buy a new car? Accessories? The hole we're in now...gets deeper. I think the economy will reconstitute, it's just a means of how long.

Read the bold!

KM · 11-28-2008, 12:54 PM

Quote:

Originally Posted by gringo220

Read the bold!

I got you. I wasn't being argumentative, just commenting on the general idea.

**gringo220** · 11-28-2008, 08:25 PM

Oh me neither and you're right, but it's our turn now..lol

**mitbar** · 11-29-2008, 12:12 AM

Quote:

Originally Posted by allstar

Thomas Jefferson always said that every 40 years, we should over throw the government, if not they will become to powerful, and start to crumble. Well that has happened. So who wants to help over throw it?

im down bro, civil war will come soon enough.

**Julio** · 11-29-2008, 02:20 AM

there is a war happening and you guys want to do a civil war. what a complete waste of time.

Vermilion · 11-29-2008, 04:01 AM

Quote:

Originally Posted by gringo220

Well the first 600 dollars didn't do **** so how is another 600 gonna do something.

My buddy had a good idea for this package. There's 160 million house holds in the US. Give each house hold 1 million dollars and let them pay off their mortages and bills. No one would have to file for bankruptcy in fear of losing their houses or vehicles. That's just a dent in the package so give the rest to the big 3 and banks, let us put money back into the economy how we see fit. All these companies have made a ton of mistakes and put a hurting on the rest of us so give the people a chance and let us make a mistake for once! To bad it will never happen though.

tell your buddy he's a rtard and that's not how the world works. that in essence is the freaking reason why were in this mess. dumb ass people being handed **** and spending beyone thier means. let me guess, your friend is a democrat!

please tell me you don't actually support this

**gringo220** · 11-29-2008, 10:16 AM

How do you like your negative reps?^^ And you must be young and dumb, we the people didn't make this mess, it's the crooked polititions, banks and large corporations who had no concept of money. So it's you my friend that's a retard! Before you talk make sure you know what it is you're talking about.

KM · 11-29-2008, 01:47 PM

Quote:

Originally Posted by Vermilion

tell your buddy he's a rtard and that's not how the world works. that in essence is the freaking reason why were in this mess. dumb ass people being handed **** and spending beyone thier means. let me guess, your friend is a democrat!

please tell me you don't actually support this

easy tiger.

You have a vague point, so I won't despoil your comment completely. Gringo, of course one of the problems here is people can't pay what they've invested in; banks are forgoing more debt, and so on. But to think that's the only cause, you are certainly mistaking.

I think it's more of a hypothetical thought, than a pin-pointed idea.

**Freak** · 11-29-2008, 02:23 PM

The lenders lent to people they shouldn't have and as most typically Americans.. people bought more than they could afford trying to live beyond their means. The blame goes on both sides. Devaluing our dollar by constantly printing more is the feds fault.

**gringo220** · 11-29-2008, 05:51 PM

I say it's more the banks fault then anything. Like you said they would lend money to anyone that wanted it, now were in this situation because of that. It's like anything in life, if you ask for it then that doesn't mean you should always get it. The banks should have known when to say no and when it was ok to lend the money.

Lets say that my buddies idea would happen and each household got 1 million to spend. Now most people would pay off their debt but not all of them would, that's obvious. If they paid off their mortages then the banks would get their money back that they lent out and that would help free them up to a point. The rest of the money they got from the gov could fix the rest of their problems. Now we have our morgages paid off and lets say our credit card debt. Now the banks have the money back on that plus all the interest that had built up, now they get more back then they paid out. Assuming you paid that off and lets say your car you should be debt free. With a bunch of money in the bank now it's time to play and that should be somewha incouraged to a point. Go out and buy a new car or a boat or maybe another house. By doing that you just kept or added some jobs for someone at an auto plant or a relator or maybe some carpenters to fix stuff up. Buy some new rims for your car and help employ the people making them. Get all your fishing stuff for your boat and help keep them employed. By us spending money that will in return put jobs out there. Problem now is no body has the money to spend.
Now I know it wouldn't be the one thing fixes all plan but I say it would work better then giving a big chunk of money to a bank or the big 3 and say here you go, fix the problem. They've already showed us they not responsible enough to do that. They screwed up countless times and keep getting bailed out, now it should be the people of the united states to have a turn.

Vermilion · 11-29-2008, 08:15 PM

Quote:

Originally Posted by gringo220

How do you like your negative reps?^^ And you must be young and dumb, we the people didn't make this mess, it's the crooked polititions, banks and large corporations who had no concept of money. So it's you my friend that's a retard! Before you talk make sure you know what it is you're talking about.

oh noes! not teh neg reps! please sir do spare me!

nope! wrong again! the seeds for this mess were planted in the clinton administration. they essentially removed all prerequisites for people to get a loan to buy a house. because in a democrat's perfect little world, everyone should be able to own a house dang nabbit! so poor people who had no way of repaying these loans went out and took them (like idiots) and now when the piper must be paid, everyone whines and cries and blames "corrupt" ceos and banks. please. banks now have toxic assets and they are being crippled by them. it was there fault for making bad loans to people who were high risk, but it's even more the fault of the morons taking out the loans who knew they couldn't repay them.

i like how you live in a wonderland and think it is I who is misguided here.

**gringo220** · 11-29-2008, 08:32 PM

Again, it's the banks responsibility to make sure what they are lending will be able to be repaid. And yes it has a lot to do with corruption! If these people had a control on their businesses instead of worrying how they can benefit them and their friends then there wouldn't be a problem. Who cares if the clinton administration removed restrictions or not, in the end it's up to the banks to make sure what they are doing is safe which we have seen first hand it wasn't.

Oh and yes you should feel like a total idiot. 20 posts and already neg reped by 2 people and I have a feeling it'll happen again. You're obviously not the smartest person out there. So you go live in your little wonderland and keep thinking what it is you think.

**Freak** · 11-29-2008, 08:38 PM

Ron Paul is the only politician with a clue about economic policy and how to fix this mess.

Vermilion · 11-29-2008, 09:47 PM

Quote:

Originally Posted by Freak

Ron Paul is the only politician with a clue about economic policy and how to fix this mess.

true that. i'm glad to see there's some sense in this thread in regards to all this. gringo is just a lost little child in his understanding of the situation.

**gringo220** · 11-29-2008, 11:25 PM

Who the **** are you? I agree on the Ron paul, I wanted him as president. Only two people who stood a chance on winning was McCain and Obama, I voted McCain. The sad part of this is you have absolutely no clue on politics, at all! If our government would have had their **** together and kept an eye on things and if the banks,auto industry and any other big publicly traded company would have used their heads then our economy wouldn't be in this mess it's in now. The truth behind this is you are a lost soul that has no clue on how our country needs to be ran. And if you're thinking I'm a democrat through this whole thing then you're wrong, I vote republican. I'm not a socialist and do not agree with it. I do agree that something new needs to be tried and not just another bailout for the ****heads that keep screwing up. It' our turn!

**Freak** · 11-29-2008, 11:40 PM

Everyone please have a mature discussion without namecalling or we won't be able to continue political discussions. All sides should be able to make their point without resorting to swearing or personal attacks. Political discussions should be an exchange of ideas. We are all wrong at times in our life and various experiences shape how we feel about certain issues. As our lives and experiences change our political feelings might too. I understand at times it might be hard to convey meaning on a forum like it would be in person but please do so as respectfully as possible.

"A language is an exact reflection of the character and growth of its speakers." - Gandhi

**T.O** · 11-30-2008, 04:14 AM

I believe too it is both the consumer and the Banks fault. People arent spending money right now because there scared. Unemployment is up but its stil at 7-8 %. Hight but no where near the 20-25% during the deppression. Look at this past Friday spending was very high due to extra low prices and bargins. Consumers new there were deal and took advantage. Gas is down but sales in trucks and SUV are still down and fuel efficient cars are still up. Again consumers are scared and the dam media isnt doing much to better the situation. As long as they get there dam story. Its going to take time for consumers and Banks to to start spending again. The question is how to we prevent what happened.

Vermilion · 11-30-2008, 10:58 PM

Quote:

Originally Posted by gringo220

Who the **** are you? I agree on the Ron paul, I wanted him as president. Only two people who stood a chance on winning was McCain and Obama, I voted McCain. The sad part of this is you have absolutely no clue on politics, at all! If our government would have had their **** together and kept an eye on things and if the banks,auto industry and any other big publicly traded company would have used their heads then our economy wouldn't be in this mess it's in now. The truth behind this is you are a lost soul that has no clue on how our country needs to be ran. And if you're thinking I'm a democrat through this whole thing then you're wrong, I vote republican. I'm not a socialist and do not agree with it. I do agree that something new needs to be tried and not just another bailout for the ****heads that keep screwing up. It' our turn!

uhh let's see here, yes of course handing every household 1 mil is as conservative as you can get! why that isn't socialist at all! sitting on your ass and having the gov hand you 1 million! you sir should run for president

that certainly doesn't sound like something like a supporter of Ron Paul would say. have fun thinking your a true conservative republican.........

**gringo220** · 12-01-2008, 12:04 AM

I'm done with you.

**mitbar** · 12-01-2008, 12:08 AM

Quote:

Originally Posted by Vermilion

uhh let's see here, yes of course handing every household 1 mil is as conservative as you can get! why that isn't socialist at all! sitting on your ass and having the gov hand you 1 million! you sir should run for president

that certainly doesn't sound like something like a supporter of Ron Paul would say. have fun thinking your a true conservative republican.........

be civil dude, thats his opinion and he is entitled to it. you have yours and your entitled to yours. thats whats great about our great country, we can believe differently and express it freely without predjudice.

Vermilion · 12-01-2008, 12:54 AM

Quote:

Originally Posted by gringo220

I'm done with you.

and i you. have fun being liberal.

**EastCoast Highlander** · 12-01-2008, 05:25 PM

Quote:

Originally Posted by allstar

Thomas Jefferson always said that every 40 years, we should over throw the government, if not they will become to powerful, and start to crumble. Well that has happened. So who wants to help over throw it?