Goldbug

Feelin' stimulated yet?

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It passed and nobody had a chance to read the bill! Great shades of "USA Patriot Act"!

House OKs $787B stimulus bill with GOP opposition

Feb 13 04:05 PM US/Eastern

By ANDREW TAYLOR

Associated Press Writer

Congressman: ‘Not One’ Member of House Has Read $787 Billion Stimulus Bill

626 Words Per Minute: Little Time to Read 1,073-Page Stimulus Before Debate

WASHINGTON (AP) - Handing the new administration a big win, House Democrats passed President Barack Obama's $787 billion plan to resuscitate the economy on Friday despite a wall of Republican opposition. The bill was approved 246-183 and sent to the Senate, where a vote was scheduled late Friday afternoon.

That vote was to be held open for hours, waiting for Ohio Democrat Sherrod Brown, who was attending a memorial service for his mother and then flying back to cast the deciding vote.

Senate passage would meet a deadline of sending the bill to Obama before a congressional recess begins next week.

The 1,071 page, 8-inch-thick measure combines $281 billion in tax cuts for individuals and businesses with more than a half-trillion dollars in government spending. The money would go for infrastructure, health care and help for cash-starved state governments, among scores of programs. Seniors would get a $250 bonus Social Security check.

Told that no Republican backed the measure, White House press secretary Robert Gibbs reacted by citing another number: "3.5 million jobs that we look forward to saving or creating."

Seven Democrats voted against the bill.

Republicans said the package won't work because it has too little in tax cuts and spreads too much money around to everyday projects like computer upgrades for federal agencies.

"This legislation falls woefully short," said House GOP Leader John Boehner of Ohio. "With a price tag of more than $1 trillion when you factor in interest, it costs every family almost $10,000 in added debt. This is an act of generational theft that our children and grandchildren will be paying for far into the future."

The final $787 billion measure has been pared back from versions previously debated in order to attract support from three Senate GOP moderates—Susan Collins and Olympia Snowe of Maine and Arlen Specter of Pennsylvania. Their help is essential to meeting a 60-vote threshold in the Senate, required to overcome a Republican objection that the bill adds to the deficit.

The bill originally passed the Senate by a 61-37 tally, but Sen. Edward Kennedy, D-Mass., suffering from brain cancer, is not expected to vote this time.

Democrats lavished praise on the measure, which combines tax cuts for workers and businesses with more than a half-trillion dollars in government spending aimed at boosting economic demand.

"By investing in new jobs, in science and innovation, in energy, in education ... we are investing in the American people, which is the best guarantee of the success of our nation," said House Speaker Nancy Pelosi, D-Calif.

The plan is the signature initiative of the fledgling Obama administration, which is betting that combining tax cuts of $400 a year for individuals and $800 for couples with an infusion of spending for unemployment assistance, $250 payments to people on Social Security, and extra money for states to help with the Medicaid health program for the poor and disabled will arrest the economy's fall.

Local school districts would receive $70 billion in additional funding for K-12 programs and special education and to prevent cutbacks and layoffs and repair crumbling schools. There's about $50 billion for energy programs, much of which goes to efficiency programs and renewable energy.

Some $46 billion would go to transportation projects, not enough to please many lawmakers.

Negotiators insisted on including a $70 billion tax break to make sure middle- to upper-income taxpayers won't get hit by the alternative minimum tax and forced a reduction of Obama's signature tax break for 95 percent of workers.

The AMT was designed 40 years ago to make sure wealthy people pay at least some tax, but is updated for inflation each year to avoid tax increases averaging $2,300 a year. Fixing the annual problems now allows lawmakers to avoid difficult battles down the road, but economists say the move won't do much to lift the economy.

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http://www.usatoday.com/money/economy/2009-02-12-stimulus-package-effects_N.htm

Moody's Economy.com chief economist Mark Zandi says the bill could help end the economic slide. He warns, however, that the stimulus spending will likely be too small, given the size of the economic decline, and suggests Congress may have to revisit the issue.

If at first you don't get stimulated, try, try again.

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At this point, I think the numbers have gotten so big nobody knows what is going on, especially the people that are supposed to know what's going on.

There's got to be a dart board involved here. No, that can't be right. If it was random chance, at least some of the decisions would be right. Loaded dice maybe.

Might work out OK, but somehow I doubt it.

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How does turning the child tax credit into a refundable credit and increasing the EIC and food stamp allotments stimulating to the economy? That seems like an expansion of public assistance.

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GREAT>>>>>Now everyone is going to go on welfare.....I still think that I am not going to benefit at all from this new bill. I always make a couple of thousand a year to much to ever qualify for anything at all.

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The economy is already in the declining stage, and was previous for about 2 years before Obama was elected into the White House (which we all know).

Now, the bill has finally passed, and I can understand why the GOP didn't vote on it; who would after Bush and the GOP passed the first stimulus bill, which didn't work; bank CEO's adding incredible and outrageous bonuses for themselves and now they are getting ripped up by the Federal peeps.

This bill is either going to help the economy or continue with the decline. Hopefully, it will help out for the best...if not, America and the rest of the world needs to prepare for the worse.

Obama came in and knew about this decline in the economy, and yes, he will probably be the blame of it, if it continues to decline, but money experts have already said there won't be a significant change until 2010-2012...who knows?

The American people need to be educated on credit and how it will effect them. There (at least of now) is NOT a class for students to take on credit/money managing in middle and high school or college.

There needs to be a class each student and now adults need to take to educate them on money. This world evolves around money, why not require ALL to take a course on it, since we have to begin taking foreign languages in middle school, high school, and a few during our college years.

I wish the best for this bill, and I hope there is some type of positive change for the American people, as well as, the other countries which are being affected by this depression.

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stimulus bill should be renamed "highway robbery bill."

It's more pork than anything else. We still don't even know what is actually in the bill or how it will affect us in the long term. I'm not too happy about the socialized health care coming down the road. I've seen medicaid in action. It's horrible!

I'm also not to happy about my medical records being placed on a computer file and could be accessed by the government.

I'm not to thrilled about American roads and bridges being made with Canadian steel. Or with cap and trade policies to combat the theory of global warming when other countries claim the earth is actually cooling - not warming. Nor am I too happy about the increased welfare spending or the free medical benefits for illegal aliens; who will also get a federal ID to replace driver's licenses.

There is also a draft in the works as reported by congressman Ron Paul and there is also a bill to construct even more FEMA camps using old military bases. Which are to be used as detention centers in accordance to the bill.

I'm not to thrilled about the possibility of 80,000 plus troops being stationed here in the USA for "riot control" when the economy officially becomes a depression.

I declare the 10th!

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Of all the craziness, there is a part of the bill requiring ALL medical records be electronic and nationalized. That makes me feel rich already. Now I just have to figure out where I will spend my "extra" $17.00 a week I can expect to receive as a result of this bill.

P.S. I am STILL waiting to hear what "reward" I will get for actually MAKING my mortgage payment on time everytime. I sure hope I am right and that my reward will be a notification that part of my escrow will now be used to help those that bought houses they could never aford in a million years.

Thinking out loud...

1. Start selling dead car lot inventory at cost and get more efficient, newer technology cars on the road ultimately saving fuel.

2. MAKE the mortgage companies knock 20% of the mortgage balance of every homeowner and offer to loan that equity at 2% interest. THAT will get people spending.

3. Offer landlords an incentive to reduce rent and stop evictions of those temporarily unemployed for the duration of their unemployment benefits.

4. Stop the stranglehold insurance companies have on homeowners by putting them BACK under EXTREME gov't regulation.

5. Tax illegal immigrants at a higher rate to cover their free medical care that drives OUR costs through the roof.

6. Price freeze gasoline

7. Tax alcohol, cigarettes and send the funds directly in to the medical industry.

8. HEAVILY tax the profits made on prescription drugs.

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stimulus bill should be renamed "highway robbery bill."
BINGO. This bill is like trying to cure a debt problem with a credit card and a trip to the mall. Not only is it not stimulative, but its about to blow a hole in your budget that makes next month even worse. Stimulus I was absolutely outrageous. This bill, Stimulus II, has just topped Stimulus I by a factor of ten-fold on the stupidity scale. Stim I was at least supposed to keep banks solvent to avoid systemic bank collapse and 1920s style run on the banks. Stim II couldn't give a sh*t about national banks (that part of it is okay) but then throws money around on years and years of pet projects. Its a mish-mash of pork like this country has never seen before.

When spending your extra $8 per week in tax savings, keep in mind that your kids and grandkids are stuck with a trillion dollar bill to pay for it. :evil::evil::evil: Off hand, I think that's about $3300 for each man, woman, and child in this country. I for one will be voting against all incumbents for the next few election cycles. This bill is an embarrassment. Not only did they vote for this crap but they didn't even read it.

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I for one will be voting against all incumbents for the next few election cycles

Don't just not vote for them, campaign for their opponent. A good midterm election rout is in order and , hopefully, return some control to the people.

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Stimulated....???? Yeah....you know I would feel better if they would quit asking me to bend over and would get off my back side! :twisted:

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Am I the only one that is really annoyed by the fact that NO ONE IN THE MEDIA or the GOV"T has taken two minutes to inform taxpayers whether the $8000 first time homebuyer tax credit is refundable or can be carried into subsequent tax years? For most people these questions can make the difference between the credit being worth $8000 or $0. Another crucial detail that is apparently too small to explain is whether its retroactively effective to include the $7500 tax "loan" crowd. Its as if the media has completely ignored their job to examine these things...SORT OF IMPORTANT!!!!

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Stimulated? No. Disgusted? Absolutely!

I watched CNBC's "House of Cards" and PBS's "Frontline: Inside the Meltdown" within the last couple of days. Servicing fraud continues to go unreported. More and more people seem to be worried and everything that's come out of Washington seems likes a joke at best and absolute robbery at the worst. :evil:

If this is all supposed to be based on confidence, well good luck ever regaining mine.

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This is the "change, real change, change you can believe in" that all the sheep voted for. The only change I see is $$ changing hands from those who actually earned it to those who are standing in line with their hands out.

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This is the "change, real change, change you can believe in" that all the sheep voted for. The only change I see is $$ changing hands from those who actually earned it to those who are standing in line with their hands out.

Look deeper, wealth earners are being drained ($$), those standing in line with their hands out are getting ¢¢. Who is getting the bulk of the money?

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Look deeper, wealth earners are being drained ($$), those standing in line with their hands out are getting ¢¢. Who is getting the bulk of the money?

Looks like lion's share of $$ is going toward pork spending. After reading over the earmarks, I don't see much that goes toward building the economy.

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aw shoot...from the title of this thread i thought someone had nude pictures of eva longoria or sumpin'. :?

Mods probably won't allow one to post the pics, but try this link for some racy stuff. The nudes are almost certainly faked, but the real and racy ones of Eva are pretty good.

http://images.google.com/images?gbv=2&hl=en&safe=off&q=eva+longoria+nude

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I saw a clip from the floor of one of the stock broker trading rings. The traders are so disgusted they are calling for a "Boston tea party."

My god, the hyperinflation from the mess will go through the roof. The derivatives trading is what is behind the collapse. Bucket shop laws of 1907 were 'repealed" kind of in 2000. 8 years for this mess to grow and grow.

The amount in the derivatives bubble is staggering. This will indeed put us into a great depression like no other.

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This is the "change, real change, change you can believe in" that all the sheep voted for. The only change I see is $$ changing hands from those who actually earned it to those who are standing in line with their hands out.

Baaa

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With the majority of people being innumerate and apathetic, Americans deserve what they voted for. Enjoy your extra $15/week. Lol. Your kids and grandkids will pay for it with compounding interest. :roll:

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I also understand the package will put all your private medical records up on computer where any hacker or "professional" can see what's wrong with you.

Pretty soon your driving insurance, your house payments and your employment rates will be based on a number provided by the government based on your records. (My predictions).

People aren't sheep - they're "sheeple." 8-)

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If we supposedly can't "Drill our way out of the oil crisis," then why all the sudden does Gov't believe we can spend our way out of a recession?

What a wonderful dream come true... perhaps we can all receive hammer and sickle patches to go along with our $13 tax breaks to make us feel better about the generations of incurred debt and Chinese ownership of America we've just given to our children!

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