Archive for the ‘stumulus’ Category

Federal debt obligations exceed world GDP

February 14, 2009

As  the Obama administration pushes through Congress its $800 billion deficit-spending economic stimulus plan, the American public is largely unaware that the true deficit of the federal government already is measured in trillions of dollars, and in fact its $65.5 trillion in total obligations exceeds the gross domestic product of the world.

The total U.S. obligations, including Social Security and Medicare benefits to be paid in the future, effectively have placed the U.S. government in bankruptcy, even before new continuing social welfare obligation embedded in the massive spending plan are taken into account.

The real 2008 federal budget deficit was $5.1 trillion, not the $455 billion previously reported by the Congressional Budget Office, according to the “2008 Financial Report of the United States Government” as released by the U.S. Department of Treasury.

By Jerome R. Corsi
WorldNetDaily

The difference between the $455 billion “official” budget deficit numbers and the $5.1 trillion budget deficit cited by “2008 Financial Report of the United States Government” is that the official budget deficit is calculated on a cash basis, where all tax receipts, including Social Security tax receipts, are used to pay government liabilities as they occur.

Read the rest:
http://www.worldnetdaily.com/index.php?
fa=PAGE.view&pageId=88851

Related:
Stimulus: China Will Fund U.S. Debt But “We Hate You Guys”

A Chinese customer shows off a handfull of hundred-yuan notes ...

Public Support for Economic Recovery Plan Slips to 42%

January 29, 2009

Scott Rasmussen said today that public support for President’s Economic stimulus, as it passed in the House yesterday, is slipping.

Rasmussen said many people say they support the bill “just because they like Obama.”

This goodwill from the public during the president’s honeymoon is already ebbing badly where laws are made: in the House and Senate.  Despite a pledge of bipartisanship, not one Republican could bring themselves to vote for the Democratic stimulus.  Now onward to the Senate….

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From Rasmussen Reports

Public support for the economic recovery plan crafted by President Obama and congressional Democrats has slipped a bit over the past week. At the same time, expectations that the plan will quickly become law have increased.

Forty-two percent (42%) of the nation’s likely voters now support the president’s plan, roughly one-third of which is tax cuts with the rest new government spending. The latest Rasmussen Reports national telephone survey shows that 39% are opposed to it and 19% are undecided. Liberal voters overwhelmingly support the plan while conservatives are strongly opposed.

Read the rest:
http://www.rasmussenreports.com/public_co
ntent/business/general_business/public_sup
port_for_economic_recovery_plan_slips_t
o_42

What’s Wrong With the Obama Economic Stimulus?

January 28, 2009

Our system has broken down.  We are about to pass the largest single spending bill ever because we are in love and we have fear; not because we have debated the bill on its merits and we think it will work.

Most of us don’t know anything about the Obama economic stimulus.  It is not on the Internet and few real in-depth reviews have been conducted.

Related:
Stimulus Funds Sexual Disease Prevention? Weren’t We Creating Jobs?

We do know that the President is stressing the need for speed in passing the bill and that many others say “why the rush?”

Whenever someone tells me to go faster and I have few facts I balk.

We also know that the mainstream media can’t get a lot more information about the stimulus than the rest of us because the stimulus has been largely crafted by Nancy Pelosi’s people largely in secret — despite all the talk about bipartisanship and transparency.

And the bill is so big few single individuals will ever understand it.

The same “Obama Swoon” that has much of the media in love has also been seen among the few remaining Republicans….

So our American system has broken down.  Love and fear can do that.

We don’t know if the stimulus bill will really stimulate a lot of jobs.  Many experts say they aren’t sure or the stimulus won’t make a lot of jobs.

And many experts are saying the stimulus money won’t get into the economy for one year to 18 months….

My problem is this: there seems to be a big disagreement on the kind of jobs we Americans want or need.  Are the jobs the stimulus hopes it make (if it makes any) long-term, well paid, jobs of the future?  Or if the stimulus makes me a job will I need a shouvel and have to give up any hope of worker compensation and health care as part of that job?

Will my next job only work if I shut down my brain, overuse my back and rely on Uncle Sam for health care and a bunch of other stuff jobs used to provide….

Seems we are rushing into an “economic stimulus” with a lot of unanswered questions….

John E. Carey
Wakefield Chapel, Virginia

Related:
 When Will the Transparent Obama Administration Put the Stimulus Online?

Difficult to “Just Say No” To Obama; He Talks the Deal To Republicans

Obama’s economic bill lacks stimulus

Will Obama Stimulus Create Jobs? Many “Experts” Can’t Say (Or Say No…)

 Obama Offered Republicans ‘Input’ On Stimulus: But “Oh My God” Is Response To Pelosi Bill

http://michellemalkin.com/2009/01/27
/some-bo-republicans-gush-over-oba
ma-meeting/

http://michellemalkin.com/2009/01/28
/stop-thief-kill-the-bill-melt-the-phones/

As Economy Falters, Doubts on Obama Plan Mount

Will stimulus work fast enough?

Obama’s Stand on Lobbyists, Transparency Void During Economic Stimulus Planning?

January 25, 2009

Lobbyists are everywhere.  Say it isn’t so.

Barack Obama has almost guranteed a White House and government free of the pervasive influence of lobbyists and totally “transparent” to allow open knowledge, debate and decision making.

But lobbyists are all over the economic stimulus planning and to make sure they get what they want the process has become even more secretive….

You decide…..

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By JULIE HIRSCHFELD DAVIS, Associated Press

President Barack Obama‘s ban on earmarks in the $825 billion economic stimulus bill doesn’t mean interest groups, lobbyists and lawmakers won’t be able to funnel money to pet projects.

They’re just working around it — and perhaps inadvertently making the process more secretive.

The projects run the gamut: a Metrolink station that needs building in Placentia, Calif.; a stretch of beach in Sandy Hook, N.J., that could really use some more sand; a water park in Miami.

There are thousands of projects like those that once would have been gotten money upfront but now are left to scramble for dollars at the back end of the process as “ready to go” jobs eligible for the stimulus plan.

Read the rest:
http://news.yahoo.com/s/ap/20090125/ap_o
n_go_co/the_influence_game_stimulus_lobbying

Related:
On Transparency, Lobbyists, So Far President Obama Is “All Talk”