Well, the House passes the gigantic $819Billion Stimulus Bill...

[Pitman]

Thoughts?


Here's an article from NYDailyNews.com on how the money will be divided:

Obama's stimulus bill: All-out effort to pry open your wallet

[bjl584]

I don't see it having much of if any effect on the economy. Many economists are saying that this bill will not stimulate the economy, as only pennies on the dollar will actually be used to create jobs. The rest will be used for pork projects. They are also saying that the money will be distributed too slowly. The economy will likely recover on its own before any of this money can have an effect. Using that logic, would it be safe to say that this Bill is not needed at all?

[Goldy1]

I don't quite understand why so many bills have to be passed together.

[boosami]

This stimulus plan is a joke! Too much pork!

[red92s]

So why exactly do people who didn't pay income tax at all get a tax refund?

[Broken Arrow]

Bah, I just don't see why there is so much focus on "prying open the wallets". Hopefully, people are saving because they now realize that their credit cards, second mortgages and HELOCs are not care-free spending money, nor is it a way to support an economy. Instead, I hope people are learning to pay off their debts (which will help our economy) and learning to save (which will also help our economy).

Yes, I do recognize the cause-and-effect of consumer spending. I do. But trying to stimulate consumer spending itself is like trying to talk an alcoholic into drinking again so the local ABC store doesn't have to fire additional employees.

Creating more jobs is not a bad idea at all, but not if the focus is to go back down the consumer path that we've been on before. The same ones that got us into this mess in the first place.

Let's support financial responsibility, not financial irresponsibility.

I don't quite understand why so many bills have to be passed together.

From what understand, some amendments are attached in order to win over the votes and support of certain members of our Congress.

[Pitman]

The only way the gov't is "prying" my wallet open is by granting me atleast 5% of that bill. Other than that, I'll continue to live well below my means.

[red92s]

But trying to stimulate consumer spending itself is like trying to talk an alcoholic into drinking again so the local ABC store doesn't have to fire additional employees.

Creating more jobs is not a bad idea at all, but not if the focus is to go back down the consumer path that we've been on before. The same ones that got us into this mess in the first place.

Let's support financial responsibility, not financial irresponsibility.

Ding Ding Ding. Winner.

[bjl584]

I don't quite understand why so many bills have to be passed together.

because they would never pass on their own.

[kork13]

IMO, this bill is a bunch of decent ideas being masqueraded as an "economic stimulus package". Taken individually, these are all things that will be good for the nation as a whole. "Smart" power grids, modernized schools, updating/fixing water lines, etc., they're all good things that are reasonable for the government to invest in... But will they really "fix" the economy, as the new administration is claiming? ....perhaps, but I see it only happening to a limited extent. I think the economy will soon/is starting to stabilize, then over time fix itself on its own. This bill may only help to shorten the time somewhat between the 'now' and 'then'.

oh, btw... I do very strongly disagree with the $500 tax credit to EVERYONE. Heck, to ANYONE. A rational look will tell you that taxes need to be increased (along with decreasing spending) in order to fix our absurdly large deficit. This bill works completely against both necessary steps...

[creditcardfree]

because they would never pass on their own.

Quite pathetic really.

[Goldy1]

I just read about the bill in my local paper over my morning tea. I understand people tend to want things that help themselves, but some of the bills only help SOME folks.
For instance the one of the bills have the government paying 65% of Cobra for a year. That sounds like an obscene expense. How that help people who are not eligible for Cobra, but still do not have health insurance, and even at 45% some people could nto afford Cobra.

[sweeps]

Visual representation of where the money will go

[GREENBACK]

Visual representation of where the money will go

I just flushed my toilet and saw a better representation of where this money will go...lol.

[maat55]

So why exactly do people who didn't pay income tax at all get a tax refund?

Socialism.