Stimulus-palooza: It never ends
Here. We. Go. Again.
Federal Reserve chairman Ben Bernanke was on the Hill yesterday clamoring and yammering about the need for yet another stimulus package.
Remember how these Spreaders of Wealth came up with the figure for the Crap Sandwich bailout? By pulling it out of their you-know-whats. Well, it looks like they’ll use the same methodology to come up with the figure for Stimulus 2.0:
Testifying on Capitol Hill Monday, Federal Reserve Chairman Ben Bernanke said Congress should consider another stimulus package.
“The uncertainty currently surrounding the economic outlook is unusually large,” said Ben Bernanke. “Any fiscal action inevitably involves trade-offs – not only among current needs and objectives, but also because commitments of resources today can burden future generations and constrain future policy options. That being said, with the economy likely to be weak for several quarters and with some risk of a protracted slowdown, consideration of a fiscal package by the Congress at this juncture seems appropriate.”
The central bank chief added that any stimulus should be crafted to boost economic activity in the short term without significantly adding to America’s fiscal deficit in the long term. Despite being prodded repeatedly by legislators, Bernanke declined to say how much money should be spent or specify what the package should contain.
More here.
Looks like he wants it quickly, quickly, right now! Prepare to have another gun put to your head and prepare for another inevitably larded-up sandwich with earmarks, goodies, and special-interest add-ons that all the principled earmark battlers oppose in theory, but will vote for anyway because they have NO CHOICE BUT TO DOOOOO SOMETHING.
Stimulus-palooza. It never ends.
Let me repeat what I said when this madness first kicked into high gear in January:
I’m all for the government giving me back my money. But why not drop the economic stimulus pretense? Just give me back my money. If the government can spare these “rebates” and send them back now, why did they take the money in the first place? Forget this temporary candy. Why not make this “rebate” permanent?
Another point: Given the estimates so far, these “rebates” will be more than offset by proposed and scheduled tax hikes and spending increases in liberal-nomics-dominated states like Maryland, NY, and NJ.
Another point: When exactly would these “rebates” get into the hands of taxpayers? By the time the checks get cut and mailed, the recession could be over. Government has a way of lagging like that.
Another point: As I’ve said repeatedly now, stimulation-palooza will inevitably be larded up with special-interest pork and other spending goodies in the tens of billions of dollars.
And let’s be clear what Washington wants people to do with this money. They want people to spend it. Not to save it. Not to apply it to their debt. Spend, spend, spend…In other words: The stimulus will stimulate more of the same bad behavior that got people into trouble in the first place.
Brilliant.
Treasury Secretary Hank Paulson delivered another snort-inducing pronouncement:
Meanwhile, Treasury Secretary Henry Paulson provided an update on how the rescue package is being implemented. He stressed that, while huge amounts of public funds have been allocated to save troubled financial institutions, ultimately there should be no cost for taxpayers.
“This is an investment, not an expenditure, and there is no reason to believe that this program will cost taxpayers anything,” said Henry Paulson.
Add this joke to his litany of wrong-headed one-liners over the last year.
***
Like clockwork, the Dems want to raise taxes in times of economic turmoil. Here’s Barney Frank salivating over the prospect of getting his grubby hands on more of your money.
Babs Boxer was making similar tax-raising noises in June.
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Thank you. As I said, I have had nearly a dozen friends killed by terrorists since 1998. I have had to use physical force twice since 1997 to protect myself or my family. Having used force, I remain willing to do so again, but it will always be a last resort.
I know folks are frustrated with the course the politicians of the nation have taken. And we have good reason to be frustrated. But, I think when someone, Gorebot, crosses a line like that he needs to be reminded that words have consequences and being flip about wishing murder on someone, even someone dispicable, is wrong.
The Threat:
The Antidote.
Something highly unusual happened on that trip.
What was discussed during those three hours?
Does anyone know who makes the ink used to print our currency? That’s one stock I would buy right now!!
On October 21st, 2008 at 12:39 pm, WarEagle82 said:
It appears you have incorrectly imputed an intent behind what I said. You thus have significantly misunderstood what I said.
I crossed no line.
On October 21st, 2008 at 12:14 pm, greenfairie said:
For me it’s a bit different.
What really killed GuvMint’s ability to operate is when the Senate Rules were changed to enable “non-filibustering filibusters”.
When a minority of legislators can effectively “mail in” their total anal blockage of a bill (that is, do it pain free to themselves), THAT is what has radically disrupted the ability to govern.
Filibusters should be mandatorilly real. That will get things moving again.
Barney wants Mo’money!
As I’ve mentioned before, someone said the greatest asset of the opposition is an ignorant electorate. That electorate gave us Jimmah Cawtah and Billy Jeff, and “hissef” twice, even. They may do it to us (US) again with Barry O. But just try and get through to them with facts and it’s “la la la, I can’t hear you, you racist right winger!”
Stimulus 2.0? BOHICA…bend over, here it comes again. And we have to provide our own latex glove and K-Y gel.
May God have mercy on us who see the truth of what’s coming…
The blind majority deserve Obama and socialism. US deserves a trip to the woodshed. I pray we don’t get what we deserve but what we NEED. A solid direct path away from socialism. I refuse to address one another as “comrade”…barf.
ITRP, indeed and Amen…
Another vote buying program sponsored by the Democraps.
The sad thing is that it has worked many times in the past and will work again just in time for this November 4th.
ITRP, He will be with us and in us, no matter the outcome…He will carry us through the storm…
You’re doing a fine job Paulie.
Just the government throwing money at a problem. Irresponsible spending got us where we are and more irresponsible spending isn’t going to fix it. VOTE THESE CLOWNS OUT!!!!!
Kill the bill.
My rep (Bartlett-MD) voted against the bailout TWICE. For that reason alone he deserves every vote from his district.
Having not had much money for years and years and coming from the wrong side of town, my kids tend to dislike ‘rich kids’ and ‘Preps’.
I have to keep breaking it to them – “But you are one of them now, other kids hate you”
So with the perpetual bailouts, the people in power do not care what we think any more, oh what to do… what to do…. So if you cant beat ‘em, join ‘em.
Is it just me, or is Bush trying really hard to make his party lose in November? How much more of this does he think his base is going to take, especially after eight years of virtual liberalism from his administration?
In fact, have you ever in your life seen a presidential campaign where both parties are acting as though they’re trying to undermine their own candidate? We have Bush and his wrong-headed spending spree, and Biden, the one-man mountain of gaffes, hamstringing Obama.
Unless he’d like a legacy beyond ending the Republican Party for a generation (and possibly for good), Bush had better put Paulson and Bernanke on a leash. We can’t afford more bailouts, we don’t want more bailouts, and someone’s going to lose their cushy elected job over the bailouts.
Well, your initial note seemed relatively unambiguous. If you maintain your intentions were other than the most obvious meaning then so be it. But, I hope you can see how easily misconstrued such a statement is.
You don’t owe me or anyone an explanation but if you care to correct my misunderstanding it would be most welcome.
Geez, That’s all we need. Another stimulus to the people. So we can buy wide screen TV’s and send the money to Japan, we can buy more gas so we can send the money to Opec or we can spend money on travel?
I heard this today on CNBC, the stimulus we need is to put money into infrastructure upgrades.. This money will go directly to the people in the form of new jobs! Which means more, payroll taxes and sales tax revenues to cities and states. Which means prosperity and the slow down in the unemployment rate. Let’s keep this stimulus money in the states and upgrade our badly degrading infrastructure. This would be a win-win for everyone!
Stimulus yes but for infrastructure and let’s get America back to work and let’s keep this money here!
The ONLY stimulus we need is to get the government OUT of the economy, reduce marginal income tax rates, end corporate income tax and capital gains taxes and reduce idiotic regulations that kill companies, drive up costs and force US companies to ship jobs overseas where US regulations don’t apply. Employment would surge as would the DJIA and the economy. GOVERNMENT IS THE PROBLEM.
Way to go Bush..more free dollars (and more deficit) before you leave office for good in 2+ months!!!
Very true…But unfortunately Bush/Rove/Cheney have thrown out all great principles of Reagan conservatism in the name is “new conservatism”.
On October 21st, 2008 at 2:15 pm, WarEagle82 said:
Rhetoricizing over something that might have happened is not necessarilly the same as endorsing the notion that it should have happened.
However, this is admittedly a fine distinction, and thus serves as an example of how easily what a writer writes can be quite different from what a reader reads.
Some conflicts indeed are the result of mere mis-communication, others the result of absolutely irreconcillable clarity.
Liberals tend to obsess on the former, conservatives on the latter.
On October 21st, 2008 at 1:05 pm, Floyd R. Turbo said:
Brilliantly stated, Floyd!
Another stimulus is just more grease on the slippery slope to socialism.
Now I see how the Social Security shortfall will be dealt with…a massive bailout just like this one.
The deficit for FY2009 will have to be at least $1 Trillion at this point just from the bailout, AIG, loans to automobile producers, and now the stimulus proposal! Then I think the “normal” projected deficit was between $300 and $500 billion.
Can this nation remain solvent with at $1.5 Trillion deficit in single year?
This is insanity and nobody seems to care or even notice.
Bush wanted to do it, it was evil and wrong. Dems want to do it, it is the greatest thing since money was invented.
Just look at it for a training session for a Odopey Presidency.
Meanwhile:
The current price of gas should not make us or our representatives apathetic about what’s going on in the world of oil. Sorry if I’m too far off-topic. It’s just that instead of stimulus packages, we should be focusing on other things. We should be keeping more of our own money in the first place instead of getting more back.
Yes, let’s just keep on printing money until we become the inflationary equivalent of Argentina of the ’90’s. Or Zimbabwe.
The Dems know better, right?
My advice to all of the bozos in DC:
Don’t just do something, stand there.
It’s been less than a month since they spent $1 Trillion on bailouts. What’s the effect of spending all that money? We don’t know, not enough time has elapsed to see the effect. DUH!!! And they want to just keep throwing more of other people’s $ at it. It’s all they know.
Whatever happened to the concept of plan your work, then work your plan.
Right now these guys are running a poorly organized Chinese fire drill.
Bernanke, Paulson, and all members of the Bush administration and Congress, please admit you don’t have a clue. We’d be better off if all of you took the next year off and did ABSOLUTELY NOTHING.
Nahhh…they are just trying to make all the Illegals from South of the Border feel right at home by making the Dollar just like the Peso. You know, worth more as a recyclable than as a form of currency.
Gorebot 126, I still pray we DON’T get what we deserve as a nation. An often quoted phrase in many museums says “those ignorant of history are doomed to repeat it”. Wrong-headed thinking or refusal to THINK and REASON can have dire consequences. Red Pill provides excellent historical references for proper conduct and action UNDER GOD. But even so, He will sustain us through the fire if, indeed, we get Obama/Biden and all their consequences.
Floyd, well said.
Hey everybody…this is just the beginning. When the Congress is controlled by a filibuster proof majority, when Obama is President, and given an assist by the corrupt immoral media…YOU AINT SEEN NOTHING YET!!!…This is a perfect storm for liberals. The dark ages, and the death of our democracy begin in earnest in 2 weeks. The socialist party will soon be in total control, its constituents having babies (and future voters) at a carefree rate; carefree because they wont be paying for them, YOU WILL. And they will just have their hands out, waiting to take what you earned, and make it theirs. Our democracy is terminally ill, dying of liberalism.
With all these bailouts, I wonder what they will do if we have a recession someday?
What really killed GuvMint’s ability to operate is when the Senate Rules were changed to enable “non-filibustering filibusters”.
When a minority of legislators can effectively “mail in” their total anal blockage of a bill (that is, do it pain free to themselves), THAT is what has radically disrupted the ability to govern.
Filibusters should be mandatorilly real. That will get things moving again.
I kind of like gridlock, all the less damage they can do.
I wonder if we can send the “checks” back when they come to us? My last one went into the bank at 3% interest (whoopie) and has sat there ever since.
Amen to that. It is bad enough to have such a huge gov’t, but let that same gov’t be run by socilaists and you have a catastrophe in the making.