Democrats: Stimulus plan no quick fix for economy

[red states rule]

Then why are Dems adding more and more pork to the bill, and why not cut the pork and increase the tax cuts?


Democrats: Stimulus plan no quick fix for economy

By STEPHEN OHLEMACHER,

WASHINGTON – The White House warned Sunday that the country could face a long and painful financial recovery, even with major government intervention to stimulate the economy and save financial institutions.

"We're off and running, but it's going to get worse before it gets better," said Vice President Joe Biden, taking the lead on a theme echoed by other Democratic officials on the Sunday talk shows.

At the end of the Obama administration's first week, the party in power at both ends of Pennsylvania Avenue sought to lower expectations for a quick fix despite legislation expected to pass by next month that would pump billions of dollars into the economy. Democrats also opened the door for even more government aid to struggling banks beyond the $700 billion bailout already in the pipeline.

Congress has given President Barack Obama permission to spend the second $350 billion of a Wall Street bailout package even though lawmakers have criticized the Bush administration for the way it spent the first half. House Speaker Nancy Pelosi, D-Calif., said she is open to additional government rescue money for banks and financial institutions. But she said taxpayers must get an ownership stake in return.

http://news.yahoo.com/s/ap/20090125/ap_on_go_pr_wh/obama_economy

[Joe Steel]

Then why are Dems adding more and more pork to the bill, and why not cut the pork and increase the tax cuts?


Tax cuts don't work unless they're very skillfully crafted. The Democrats are trying to do that by including low-income workers who don't pay income tax. As usual, Republicans are trying to obustruct the plan.

Secondly, when we're talking stimulus, pork is fine. The important goal is spending and pork is very good for that.

[red states rule]

Tax cuts don't work unless they're very skillfully crafted. The Democrats are trying to do that by including low-income workers who don't pay income tax. As usual, Republicans are trying to obustruct the plan.

Secondly, when we're talking stimulus, pork is fine. The important goal is spending and pork is very good for that.

Thank you Joe

You admited that Dems are trying to give tax "cuts" to people who do not pay taxes. That is nothing more then welfare payments via the tax code

You are taking money from the producers and givng it to the non-producers

[Joe Steel]

Thank you Joe

You admited that Dems are trying to give tax "cuts" to people who do not pay taxes. That is nothing more then welfare payments via the tax code

You are taking money from the producers and givng it to the non-producers

Income taxes. I said income taxes.

Low-income workers pay Social Security taxes.

And there's nothing wrong with taking money from producers and giving it to non-producers when the goal is stimulus. Non-producers (defined as unemployed persons not trust fund beneficaries) spend money. That's all that matters.

[red states rule]

Income taxes. I said income taxes.

Low-income workers pay Social Security taxes.

And there's nothing wrong with taking money from producers and giving it to non-producers when the goal is stimulus. Non-producers (defined as unemployed persons not trust fund beneficaries) spend money. That's all that matters.

Then repeal the SS tax for 3 to 6 months Joe. The non-producers pay such a tiny amount of the taxes, any tax "cut" for them will d nothing to spur the economy

[Joe Steel]

Then repeal the SS tax for 3 to 6 months Joe. The non-producers pay such a tiny amount of the taxes, any tax "cut" for them will d nothing to spur the economy

I came to that same conclusion a few months ago. A tax cut in the form of an SS moratorium would go almost exclusively to low-income workers and wouldn't affect the amount paid by high-income workers.

The non-producers (unemployed), however, would have to get something; maybe more food stamps.

[red states rule]

I came to that same conclusion a few months ago. A tax cut in the form of an SS moratorium would go almost exclusively to low-income workers and wouldn't affect the amount paid by high-income workers.

The non-producers (unemployed), however, would have to get something; maybe more food stamps.

But Joe, then you are "draining" the SS "trust fund"

Again, we are talking about such a small amount of money, the "poor" would be unable to have any impact on the economy

So give the poor more handouts and that will no longer make them poor?

[Joe Steel]

But Joe, then you are "draining" the SS "trust fund"

Not if you subsidize the SS Trust Fund with revenue from surtax on high income taxpayers.


Again, we are talking about such a small amount of money, the "poor" would be unable to have any impact on the economy

I don't think so. Considered in the aggregate, disposable income almost certainly would increase significantly by suspending FICA. If you numbers which say otherwise, please post them. I'd like to see FICA taxation by income level.

[red states rule]

Not if you subsidize the SS Trust Fund with revenue from surtax on high income taxpayers.



I don't think so. Considered in the aggregate, disposable income almost certainly would increase significantly by suspending FICA. If you numbers which say otherwise, please post them. I'd like to see FICA taxation by income level.

So you want to turn SS into a welfare program?

Joe the bottom 50% pay less then 3% of all Federal Income taxes - they do not pay hardly any of the bill

Tax cuts to them will do nothing except make libs feel warm all over. More good intentions with zero results - which happens with most of their ideas and programs

[April15]

It took eight or so years to get this fucked up don't expect a fix to work in a week! It will take a measured growth to climb out of the republican sink ho;e.

[red states rule]

It took eight or so years to get this fucked up don't expect a fix to work in a week! It will take a measured growth to climb out of the republican sink ho;e.

That goes against everything the liberal media said about Lord Obama. They were telling us he was going to fix everything - as were the Dems who now run Congress

Obaba, Reid, and Pelosi can do whatever they want - yet they are saying "Hey guys - don't expect to much from us"

[manu1959]

You c***servatives are just too much! Lord Obama! I realize that it is hard to accept the fact that the propaganda of trickle down has finally failed along with just about everything the Bonsai has touched. The only people being fooled in this election were those who went for the republican ticket.

nice.......classy......

[Hobbit]

Then why are Dems adding more and more pork to the bill, and why not cut the pork and increase the tax cuts?


Democrats: Stimulus plan no quick fix for economy

By STEPHEN OHLEMACHER,

WASHINGTON – The White House warned Sunday that the country could face a long and painful financial recovery, because of major government intervention to stimulate the economy and save financial institutions.

"We're off and running, but it's going to get worse before it gets better," said Vice President Joe Biden, taking the lead on a theme echoed by other Democratic officials on the Sunday talk shows.

At the end of the Obama administration's first week, the party in power at both ends of Pennsylvania Avenue sought to lower expectations for a quick fix despite legislation expected to pass by next month that would pump billions of dollars into the economy. Democrats also opened the door for even more government aid to struggling banks beyond the $700 billion bailout already in the pipeline.

Congress has given President Barack Obama permission to spend the second $350 billion of a Wall Street bailout package even though lawmakers have criticized the Bush administration for the way it spent the first half. House Speaker Nancy Pelosi, D-Calif., said she is open to additional government rescue money for banks and financial institutions. But she said taxpayers must get an ownership stake in return.

http://news.yahoo.com/s/ap/20090125/ap_on_go_pr_wh/obama_economy

There, fixed it for ya!

[manu1959]

It took eight or so years to get this fucked up don't expect a fix to work in a week! It will take a measured growth to climb out of the republican sink ho;e.

how exactly did we get here.......tell me what caused this financial meltdown....name two people that tried to stop it .....

[red states rule]

how exactly did we get here.......tell me what caused this financial meltdown....name two people that tried to stop it .....

I know it was was BArney Frank and Chris Dodd

They said there was no problem with Fannie and Freddie when Pres bush wanted to tighten lending requirements in 2003