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A Second Stimulus Package

Discussion in 'U.S. Politics' started by BigRob, Nov 7, 2008.

  1. BigRob

    BigRob Well-Known Member

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    Obama stated today this would be the first thing he would want to get done as President.

    I personally think another stimulus right now is a bad idea, and it is just throwing away another few hundred billion that will make no difference.

    Thoughts?
     
  2. The Scotsman

    The Scotsman Well-Known Member

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    No mention of what that stimulus was so maybe a bit premature to comment?
     
  3. Popeye

    Popeye Active Member

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    Obama doesn't become president for another 2 1/2 months, lets see how things look then.
     
  4. BigRob

    BigRob Well-Known Member

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    Well I agree with Scotsman, there was no official mention, but Democrats in Congress are putting it somewhere in the range of 150-300 billion in price. Obviously it does not exist yet on paper, so details are speculative, but if there is a lame duck session it could happen sooner I suppose.

    But on to your point Popeye, I agree he does not become President until January, but at the same time, I think for the economics side of a stimulus package to work you have to do it right at the start of any slowdown. We are certainly past that point I think.

    I think since we missed the chance to have one that would work (since the timing is basically impossible to do) what we will get out of this is either 1) Nothing but more debt or 2) It will go over well, but it will come as we are coming out of problem anyway, thus making a stimulus not necessary. I also think that the logic of Keynesian economics is flawed, simply because to put money into the economy (as that theory lays out) we first take it out of the economy, but that is a different debate.

    Politically it can be a different story based on how it gets shaped. I personally feel we do not need another stimulus (or the first one to be honest), but depending on how it gets shaped, it can play a big role.
     
  5. The Scotsman

    The Scotsman Well-Known Member

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    ...from the press conference it sounds like he's going to chuck a bone to the middle classes in order to get them back into the malls I guess. Give them back some spending power in order to stimulate what is a pretty buggered economy, its generally the middle classes that will kick start the economy so they are the place to start.
     
  6. BigRob

    BigRob Well-Known Member

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    True, but look at how the Bush stimulus worked... or did not work is a better way to put it.

    Sure we had a few days of people spending, many people simply put the money in the bank, but after that people realized the economy still had fundamental problems and investor confidence was terrible.

    It seems that since we will most likely just print the money to fund this stimulus, it will only deflate the dollars we already have, and will have no real impact on loosening credit for businesses.

    I see it as a political gimmick that costs us $300,000,000,000 for no real return. Not that the Bush stimulus was anything other than that either in my opinion as well.
     
  7. Andy

    Andy Well-Known Member

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    He specifically flew back to Washington to vote for the first. No doubt he'll sign into law his own.

    A bail out will only prolong the market correction of failing companies. Dragging it out longer will drag out the decline. Either the market will rebound before the second bail out (I'm sure the dems will claim their messiah did it), or it will drag out the problem, like the first. In either case, it's completely useless and un-needed.
     
  8. CONSERVERATIVETOO

    CONSERVERATIVETOO New Member

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    Hey BIG ROB knows nothing about how our economy works . He just wants to oppose Obama because of skin tone! Do we need a moderator who tries to tell our PRESIDENT to BE that BIG ROB is SUPERIOR???
     
  9. Andy

    Andy Well-Known Member

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    Excuse you? If there is anyone who is not worried about skin tone, it's Rob. And for the record, Rob knows quite a bit more about economics than you have demonstrated you know. Thanks for your time. Post something useful from here on, eh?
     
  10. CONSERVERATIVETOO

    CONSERVERATIVETOO New Member

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    If he knows so much , let him run for office. It is easy to hide behind a forum and judge others. Are you Big Rob's brother?
     
  11. GenSeneca

    GenSeneca Well-Known Member

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    Dude... I thought your post was sarcasm... I guess it wasn't... Who the F are you to talk smack about Rob? You seem to be the one hiding behind the forum and judging others... Do you really think the last stimulus package was effective? Do you honestly think another round of massive deficit spending will do something other than launch us further into debt?
     
  12. Andy

    Andy Well-Known Member

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    I would vote for Rob if he ran.
    He does know so much.
    You judged him in the last post, and now this one.

    Now you judge me?
    You seemed more wise before this thread. What happened?
     
  13. BigRob

    BigRob Well-Known Member

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    What?

    I appreciate the vote of confidence Andy and Gen, means a lot coming from you guys.
     
  14. vyo476

    vyo476 Active Member

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    From another thread in which you posted (today):

    Hypocritical much?

    I don't think I have ever, in my entire time here, seen such a blatantly hypocritical line of reasoning. It doesn't even deserve to be called "reasoning."

    How old are you, anyway?
     
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