NotThe1 Posted January 9, 2009 #1 Share Posted January 9, 2009 Barack Obama declared yesterday that only unprecedented and urgent government spending could prevent the deepening recession stretching for years into the future. Eleven days before taking office, the US President-elect said that he was entering his presidency “in the midst of a crisis unlike any we have seen in our lifetime”. The “day of reckoning” had arrived, he said, and the risks of “doing too little or nothing at all” were even greater than those of allowing a federal deficit – already projected to reach the record figure of $1.2 trillion – to spiral on into the years to come. Mr Obama used his first major policy speech since his election to call on Congress to act quickly on his request to pump hundreds of billions of dollars into the American economy. He said that figures to be released today would reveal that the United States lost more jobs last year than at any time since the Second World War. Barack Obama: we must spend our way out of recession AIPAC"S Whore passes resolution to support Israel's fight against Hamas Dennis Kucinich-US Weapons Used To Kill Children Paid For By US Taxpayers Link to comment Share on other sites More sharing options...
InHuman Posted January 9, 2009 #2 Share Posted January 9, 2009 Yeah, and leave the debt for the next president, right? Link to comment Share on other sites More sharing options...
Graylady Posted January 9, 2009 #3 Share Posted January 9, 2009 Yeah, and leave the debt for the next president, right? its call AMERO... Link to comment Share on other sites More sharing options...
Michelle Posted January 9, 2009 #4 Share Posted January 9, 2009 God, he sounds eerily like Bush... Link to comment Share on other sites More sharing options...
Pseudo Intellectual Posted January 9, 2009 #5 Share Posted January 9, 2009 Wow, and people hate Bush for "irresponsible" spending... Link to comment Share on other sites More sharing options...
behaviour??? Posted January 9, 2009 #6 Share Posted January 9, 2009 Irresposible president??? Thanks B??? Link to comment Share on other sites More sharing options...
Pseudo Intellectual Posted January 9, 2009 #7 Share Posted January 9, 2009 What? Link to comment Share on other sites More sharing options...
War Eagle Posted January 9, 2009 #8 Share Posted January 9, 2009 (edited) The first thing i read in today's paper. Don't wanna bag the man's ideals/policies (still green, give him a chance before warming up the president's chair)...But man that sounds stupid almost thrashed-out, cliché erm and even oxymoronish if ya like; 'Spending our way out of recession'. Talk about an insult, attack if ya like to the hard working American taxpayer's intelligence/conscience. People are struggling out there to make ends meet in these troubled economic times as it is; But don't worry, just spend spend spend your way out of the sh!t your in...that means creating more & more personal debt (on top of everything else) for you and your family, ok. just the way i see it anyways... Edited January 9, 2009 by REBEL Link to comment Share on other sites More sharing options...
Neognosis Posted January 9, 2009 #9 Share Posted January 9, 2009 Talk about an insult, attack if ya like to the hard working American taxpayer's intelligence/conscience. People are struggling out there to make ends meet in these troubled economic times as it is; But don't worry, just spend spend spend your way out of the sh!t your in...that means creating more & more personal debt (on top of everything else) for you and your family, ok. He means government spending, not consumers spending their paychecks. Link to comment Share on other sites More sharing options...
War Eagle Posted January 9, 2009 #10 Share Posted January 9, 2009 He means government spending, not consumers spending their paychecks. Ok, maybe Neo, but isn't government spending taxpayer's money?...Maybe he has more rising consumption tax in mind planned? In any case, don't ya also need consumer spending to keep the economy ticking over, or in this case getting the economy out of the red? Link to comment Share on other sites More sharing options...
Neognosis Posted January 9, 2009 #11 Share Posted January 9, 2009 Ok, maybe Neo, but isn't government spending taxpayer's money?...Maybe he has more rising consumption tax in mind planned? In any case, don't ya also need consumer spending to keep the economy ticking over, or in this case getting the economy out of the red? Yes, if everyone stops buying things and using services, the economy, by defnition, will suffer. But what he's saying is that we need to spend taxpayer money on programs that will create jobs and improve the economy. And also we have to cut taxes so that the middle class has money to spend on products and services. Link to comment Share on other sites More sharing options...
War Eagle Posted January 9, 2009 #12 Share Posted January 9, 2009 Yes, if everyone stops buying things and using services, the economy, by defnition, will suffer. But what he's saying is that we need to spend taxpayer money on programs that will create jobs and improve the economy. And also we have to cut taxes so that the middle class has money to spend on products and services. Just trying to get a handle on this, so bare with me here; In order for a government to 'spend' on programs etc etc as you say, stimulate the economy, they'll need to raise funds (taxes or borrow) in order to do so(?) So wouldn't cutting taxes counter that? Borrowing would be a no no considering the US national debt is already out of control...53 year high in fact Link to comment Share on other sites More sharing options...
ASOP Posted January 9, 2009 #13 Share Posted January 9, 2009 You got it right Rebel. Link to comment Share on other sites More sharing options...
Neognosis Posted January 9, 2009 #14 Share Posted January 9, 2009 In order for a government to 'spend' on programs etc etc as you say, stimulate the economy, they'll need to raise funds (taxes or borrow) in order to do so(?) So wouldn't cutting taxes counter that? Well, yes and no. the idea is also that if you cut taxes and spend money on creating jobs, people earn more money, which they pay taxes on, and buy things, which they also pay taxes on. Cutting taxes to actually get tax money via consumer and business cash flow is actually a conservative idea. But I'm no economist. Hope it works. Borrowing would be a no no considering the US national debt is already out of control...53 year high in fact That's true, I think. And spending when you are in debt is a bad idea on principle. But what some economists are saying is that things are SO bad right now, that if we don't borrow and spend, the ship is in real danger of going under. I think we are in a situation analagous to a hot dog stand business where their cart broke, and they dont' have money to get a new one, but if they don't borrow any money to get a new one, they won't ever make any money anyway. Link to comment Share on other sites More sharing options...
Bill Hill Posted January 9, 2009 #15 Share Posted January 9, 2009 The Federal Reserve- got to be one of the biggest con jobs in history. The US gov borrows money, and pays it back with interest.. Link to comment Share on other sites More sharing options...
The Silver Thong Posted January 9, 2009 #16 Share Posted January 9, 2009 Actually consumer spending does and will help the economy. If everyone tucks there money under there mattress where is the stimulus for growth. It does include spend your paycheck. If 330 million Americans refuse to spend, well game over folks. As was said banks are very leary of handing out loans right now but if small business halts and we turn turtle and hunker in it will only last longer. No, do not go out and blow your cash but support of local business such as the local pizza joint or video store, they need us to make it, so go rent a movie order some pizza and let these worries disapear for a couple hours. Link to comment Share on other sites More sharing options...
chemical-licker Posted January 9, 2009 #17 Share Posted January 9, 2009 CHANGE CHANGE CHANGE ............................. ............. change ??????????????? Link to comment Share on other sites More sharing options...
The Silver Thong Posted January 9, 2009 #18 Share Posted January 9, 2009 CHANGE CHANGE CHANGE ............................. ............. change ??????????????? I know I know but what they hell do we change to? and what do we change from? LOL Link to comment Share on other sites More sharing options...
War Eagle Posted January 9, 2009 #19 Share Posted January 9, 2009 The Federal Reserve- got to be one of the biggest con jobs in history. and how... The US gov borrows money, and pays it back with interest.. and the Federal Reserve is supposed to be owned by the people (their kitty fund for a rainy day). CHANGE CHANGE CHANGE ............................. ............. change ??????????????? LOL!!! Link to comment Share on other sites More sharing options...
acidhead Posted January 9, 2009 #20 Share Posted January 9, 2009 I notice this hasn't been said so i'm going to say it for the record: For the past couple weeks while the world has watched the planet's fourth largest military wreck havoc on 1.5 million rock welding terrorists in Gaza the press repeated comments from the Obama camp stating he has no comment to make on the crisis because and I'll quote: " there is only one President in office at a time " -Than why the hell is Obama talking, right now before he's the sworn President, about a coming 1.2 trillion dolllar budget and so-called government program stimulus package? Does Obamas position automatically CHANGE based on economics over moral values? Just thought I'd point out this double-talk. Link to comment Share on other sites More sharing options...
Neognosis Posted January 9, 2009 #21 Share Posted January 9, 2009 Than why the hell is Obama talking, right now before he's the sworn President, about a coming 1.2 trillion dolllar budget and so-called government program stimulus package? Does Obamas position automatically CHANGE based on economics over moral values? Because he needs the stimulus package passed immediately. He's campaigning for it. That is responsible. To speak on foreign policy plans while a president is still in office would be dangerous, especially while a war is going on. Link to comment Share on other sites More sharing options...
stevewinn Posted January 9, 2009 #22 Share Posted January 9, 2009 We should have nationalised the banks the moment things started to go wrong. and any money earned back through the Banks could have been paid to the taxpayer. because like it or not were not going to recoup all our money when all this is over. Gordon Brown is just throwing good money after bad, I've said it before on here, Labours solution to every problem they've faced since coming to office in 1997 has been to throw money at it. and their doing the same again. the only people who are benefiting from all this are the ones that caused it, bankers and kamikaze financial investors Link to comment Share on other sites More sharing options...
KingTomis Posted January 9, 2009 #23 Share Posted January 9, 2009 Link to comment Share on other sites More sharing options...
chemical-licker Posted January 9, 2009 #24 Share Posted January 9, 2009 good find Link to comment Share on other sites More sharing options...
Bez Posted January 9, 2009 #25 Share Posted January 9, 2009 KingTomis that made me laugh really hard. Nice find indeed. Link to comment Share on other sites More sharing options...
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