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The American stimulus package

Do you think that the U.S's Stimulus Package will solve anything on a long-term scale


  • Total voters
    25

Gengarchomp

n00bier than you
  • 79
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    16
    Years
    With the economy in the worst recession since the Great Depression, Congress has decided to pass a Stimulus Package (here is the link to an online version if anyone wants to read it: https://readthestimulus.org/) which will cost $819 billion dollars. The package is supposed to create or save 4 million jobs by 2010. In my opinion, this is completely ridiculous. Not only would this create jobs for roughly 1% of America, which would, by the way, be temporary construction jobs, but it would cost $205 Thousand per job. That is such a massive amount of money to waste that it would likely bankrupt the U.S, but also the countries that depend on America for their own economic survival. Since there is a pretty good chance that this will fail in the long run, and that almost all jobs created would likely be temporary, in addition to the fact that the next 3 or 4 generations will be paying this off, can anyone really think that wonton spending will solve anything?
     

    BenjiTheKid

    Cooltrainer Benji
  • 496
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    15
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    I honestly don't know what to think of it yet.

    On one hand, it will help some families to get back on their feet for a while. However, when it runs out- if they're still at the same dead-end job- it won't do much to help. On the other hand, it seems a lot of money to waste while we're in such a terrible recession.
     

    Agent Cobalt

    Proud U.S. Army Soldier
  • 191
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    Since when hasn't spending trillions, enslaving future generations of Americans with debt, and integrating socialism into the economy helped us? After all, spending got us out of the Great Depression and Jimmy Carter's recession. Oh wait.

    This whole situation was brought about because of government intervention in our economy, and the dumbies like Barnie Frank and Chris Dodd that created this mess are the geniuses we need to fix this? Why can't the people demand their representatives legislate and execute the law along the guidelines of the Constitution? I have to wonder if the jerks in Congress that can't be bothered to read the spending bills they vote to pass because they're hundreds of pages long even have the time to read the Constitution.

    I wish we'd stop thinking that the government's job is to ensure the general welfare rather than promote it; that they'd stop supporting the nanny state. I wish we'd return to Laissez-faire economics and remember that government that governs best governs least. But then if the Obama administration and the do-nothing stalinists in Congress want to ruin our currency, raise taxes, give in to big labor and the unions, and start a trading war with Europe, Canada, and our other trading partners, then by all means let them.

    Hope. Change. Obey.
     

    Gengarchomp

    n00bier than you
  • 79
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    16
    Years
    Since when hasn't spending trillions, enslaving future generations of Americans with debt, and integrating socialism into the economy helped us? After all, spending got us out of the Great Depression and Jimmy Carter's recession. Oh wait.

    This whole situation was brought about because of government intervention in our economy, and the dumbies like Barnie Frank and Chris Dodd that created this mess are the geniuses we need to fix this? Why can't the people demand their representatives legislate and execute the law along the guidelines of the Constitution? I have to wonder if the jerks in Congress that can't be bothered to read the spending bills they vote to pass because they're hundreds of pages long even have the time to read the Constitution.

    I wish we'd stop thinking that the government's job is to ensure the general welfare rather than promote it; that they'd stop supporting the nanny state. I wish we'd return to Laissez-faire economics and remember that government that governs best governs least. But then if the Obama administration and the do-nothing stalinists in Congress want to ruin our currency, raise taxes, give in to big labor and the unions, and start a trading war with Europe, Canada, and our other trading partners, then by all means let them.

    Hope. Change. Obey.

    I completely agree with this post. It has been about three weeks since America became an "Obamanation," and I've already had enough change. I miss captialism already. If government decides to just inflate the economy for every little downturn, we're doomed. A free market economy is bound to have some recessions, and it is best to just let them go away naturally. If anything, this package will make things worse.
     

    Agent Cobalt

    Proud U.S. Army Soldier
  • 191
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    15
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    I completely agree with this post. It has been about three weeks since America became an "Obamanation," and I've already had enough change. I miss captialism already. If government decides to just inflate the economy for every little downturn, we're doomed. A free market economy is bound to have some recessions, and it is best to just let them go away naturally. If anything, this package will make things worse.

    You got that right. Free markets for free people. :cool:
     

    Guest123_x1

    Guest
  • 0
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    unmitigated disaster

    The federal government is once again, experimenting with failed economic policies that will only make things worse in the long run and continuing to prop up the biggest financial bubble in history with dangerous monetary pumping, "bridge loans", trillion dollar "recovery packages", among other things-all in the name of "jump starting the economy", "reducing unemployment", even "saving the middle class" and "preventing certain economic doom"!
    Instead of listening to people like Peter Schiff, Jim Rogers, Ron Paul, and Lew Rockwell, they chose to follow the broken and otherwise disproven fallacies of Keynesian economics.
    How can more spending, more debt, and more inflation get us out of a depression caused by these very things?
    As the late economics professor Murray N. Rothbard put it-
    (the federal government has) proposed to cure the disease--the crash and future recession--by pouring into the economy more of the very virus (inflationary credit expansion) that caused the disease in the first place.
    The quote was written in early 1988 in response to the stock market crash the previous October.


    This latest inflationary (and I mean Inflationary) "stimulus" package will do little good to "revive the economy" or "save jobs". In fact, there will probably be a third (this is the second one), and a fourth, and so on, with even larger spending. As Peter Schiff said, they'll keep upping the ante on this stuff, and eventually a currency crisis (such as in Iceland) will result-with no real recovery in sight.

    Despite what the mainstream media wants you to believe, economists across the board do NOT "agree" that we need big government spending to "stimulate the economy" to "prevent a much worse downturn" and whatever other lines of propaganda may be pitched justifying such.
    Austrian School economists such as Lew Rockwell and Peter Schiff vehemently disagree with government/Federal Reserve intervention by inflation/monetary pumping and giveaway programs.

    Lots of malinvestments and other bad decisions were made during the boom (which we were told would never end-that home prices would keep rising forever and ever). A recession such as this is neccesary to clean out these malinvestments and allow for solid recovery-basically starting over from scratch.

    See my previous posts on this Fed-created 'crisis':
    How bad it will get (with links to Fed M1, M2, Monetary Base)
    Monetary Policy history
    Banking Policy and Moral Hazard
    On Bailout Propaganda and power grabs

    John Stossel also has written about the dangers of Fed intervention in our economy
    https://abcnews.go.com/2020/Story?id=6385348&page=1

    This is NOT "change we need" but more of the same-policies right from the Hoover/Roosevelt playbook. The change we need is to abolish the Federal Reserve, return to a gold standard, and become a nation of savers again.
     
  • 9,468
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    Argh...XD

    I was hoping to make this thread once the Bill is signed on Monday. XPPPPP

    Eh IMO, this bill is just what we need at a time like this. I can see that the Conservatives and Libertarians are squeeling like crazy on this but this thing has 1/3 in Tax-cuts already for you guys!

    Seriously 5/8 Years of Republican rule/deregulization not enough for you guys?
     

    Guest123_x1

    Guest
  • 0
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    wrong points

    this thing has 1/3 in Tax-cuts already for you guys!
    Problem is, we've cut taxes so much and expanded the size and scope of government so much we've become $11 TRILLION in debt. You can't keep cutting taxes and expanding the size and scope of government (without turning up the printing presses and stoking massive inflation).

    Seriously 5/8 Years of Republican rule/deregulization not enough for you guys?
    The last 8 years of Republican rule have been nothing but imposing new regulations, expanding the size and scope of government, and spend spend spending like never before.
     

    Agent Cobalt

    Proud U.S. Army Soldier
  • 191
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    Otter Mii-kun is pretty much right on the money, though I must say I almost threw up because he referenced nutjobs like RuPaul and Pete Schiff.

    Eh IMO, this bill is just what we need at a time like this. I can see that the Conservatives and Libertarians are squeeling like crazy on this but this thing has 1/3 in Tax-cuts already for you guys!

    Tax cuts? You mean welfare checks right? And even assuming they were taxcuts, it won't do squat considering the Congress is planning on spending trillions of dollars. You can't outspend yourself out of poverty. Look at FDR's New Deal, JFK's New Frontier, LBJ's Great Society and the War on Poverty. If making government programs, regulating the system, destroying the foundations of capitalism and free markets, enslaving future generations of Americans with debt, making new government departments, raising taxes, and spending unprecedented amounts of money could end economic downturn and fix our problems it would have worked by now. In fact the opposite is true; every time the government has tried to play the role of knight in shining armor when it came to the economy, the government has screwed things up and made them worse off than before. I'll take supply-side and Laissez-faire economics over progressivism any day of the week.

    Seriously 5/8 Years of Republican rule/deregulization not enough for you guys?
    I'm sorry, what? Republicans were the ones shouting about the upcoming economic crisis, and liberal Democrats like Maxine Waters were defending Fannie Mae and such and saying there was no problem. Anyone with an understanding of the economic crisis knows its origins are in overregulation of the economy and social engineering, not capitalism and Republicans. Bush warned us about this, McCain warned us, the Republicans in Congress were warning us since the 90's. The housing bubble and this economic crisis can be traced to liberal Democrats like Bill Clinton and Jimmy Carter supporting things like the Community Reinvestment Act which interfered in banking structure and encouraged a business environment where people could be given loans and sold houses despite their bad credit and inability to pay what they owe.

    It is a myth, no a lie, that this crisis started because of free markets or unregulated capitalism; it was started by a trend since the 70's where big government bureaucrats and politicians decided to interfere with the markets.
     
  • 3,299
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    I really don't know what to expect in the long run. The only thing I'm concerned is trying to find a new job after I got laid off at my last one. With the economy this bad and just about everybody having layoffs and or hiring freezes, it's difficult for anybody laid off to find a new job.
     

    Gengarchomp

    n00bier than you
  • 79
    Posts
    16
    Years
    Argh...XD

    I was hoping to make this thread once the Bill is signed on Monday. XPPPPP

    Eh IMO, this bill is just what we need at a time like this. I can see that the Conservatives and Libertarians are squeeling like crazy on this but this thing has 1/3 in Tax-cuts already for you guys!

    Seriously 5/8 Years of Republican rule/deregulization not enough for you guys?

    Yeah, we definitely need Nancy Pelosi giving $30 million to some mouse that I've never heard of to stimulate the economy. And how can we go without all those temporary construction jobs, which will result in just as many people loosing their jobs when the projects are over? And how has this nation survived so long without being $11 Trillion in debt? This plan is the absolute antithesis of what we need. If we're this far in debt, and the Dems in Congress are being like this, we might as well learn L'internationale.
     

    TRIFORCE89

    Guide of Darkness
  • 8,123
    Posts
    20
    Years
    I think a little spending on the government's part is needed. But the bill is too large and a lot of stuff in it isn't long-term or job-creating. I think that overall it will hurt the economy even more. There is good in the bill, but there is also a lot of unnecessary bad.

    I'm a little more accepting of a stimulus package than I am of a bailout.
     
  • 683
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    I wish we'd stop thinking that the government's job is to ensure the general welfare rather than promote it; that they'd stop supporting the nanny state. I wish we'd return to Laissez-faire economics and remember that government that governs best governs least. But then if the Obama administration and the do-nothing stalinists in Congress want to ruin our currency, raise taxes, give in to big labor and the unions, and start a trading war with Europe, Canada, and our other trading partners, then by all means let them.

    Hope. Change. Obey.
    Oh dear mother of god, are you serious? Do you really think doing nothing at all is better? It is our government's job to help us out and it is our government's job to help the economy in which IT destroyed. In the Depression, Hoover believed that people shouldn't get help from the government. We have to tighten our belts and it will fix itself. Well guess what, that made to economy worse. Ten-fold. Hoover is now down as one of the worst presidents because of that very thing. And it wasn't until someone, would you look at that, who actually DID something which fixed the economy. Doing nothing is the worst thing to possibly do. And this stimulus isn't all about giving us money. It is also about tax cuts. Which is when I last checked, good. The concept of actually doing something to help people is such a strange and scary thought but we have to do it! Even if it means...-tear- helping middle class families. Now I admit, this stimulus package is not the best. But it is better than nothing. Doing nothing will put us in a depression. Stimulus plans helps the economy, which we both already establish. My point is, this plan is good, we should support it because it will help! It is the governments job to provide welfare, and help. If they don't, welcome back Black Tuesday. And news flash, we are already in a trillion dollars of debt. Another trillion wont really effect us right now. We are still paying off the first and it will take awhile to do that. Something is better than nothing, this plan is something, a good (but not the best) something. It will put money into our economy, helping it to recover. It will create tons of jobs which is another plus.

    You know what would be funny? If I read the quoted post wrong and this rant was for nothing. o_O That happens a lot.
     

    Agent Cobalt

    Proud U.S. Army Soldier
  • 191
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    Oh dear mother of god, are you serious? Do you really think doing nothing at all is better?
    Yes. Yes. Yes. Yes. Yes.

    It is our government's job to help us out and it is our government's job to help the economy in which IT destroyed.
    Uh, no, actually it's not the government's job. Show me where in the Constitution the government has to "help out" failed businesses and spend trillions of dollars. I dare you. I've read and studied our Constitution, the supreme law of the land, for years and I can tell you that the limits on government are very clear in the Constitution. It's not nor has it ever been the government's job to control the economy. The government was intended to have very little influence regarding money. The government's job when it comes to the economy is to coin money, set tax rates, and set commerce between the states and foreign nations. No, it's not our government's job to strangle us with debt, central planning, and welfare statism. Look up a term called "enumerated powers." Then look up the Tenth Amendment. The powers not granted to the federal government by the Constitution belong to the states and the people.

    In the Depression, Hoover believed that people shouldn't get help from the government. We have to tighten our belts and it will fix itself. Well guess what, that made to economy worse. Ten-fold. Hoover is now down as one of the worst presidents because of that very thing.
    Correction- Hoover increased government spending for public works projects like the Hoover Dam because he, like Obama, thought it would stimulate the economy and create jobs. He also, like Obama, went after free trade and worsened our economy by supporting protectionist policies and high tariffs. Take a look at the Hawley-Smoot Tariff Act. Was that a hands off approach to the economy? Hoover should have stood by the legacy of Coolidge and instead went the progressive route and it screwed us in the long run and lost him the presidency.

    And it wasn't until someone, would you look at that, who actually DID something which fixed the economy.
    Like... Like what? What did FDR do to *fix* the economy? The New Deal was a failure. All of FDR's government spending, tax hikes, business regulations, wealth redistribution, central planning, and welfare programs failed to stimulate the economy or recover our industrial base. Do you have ANY idea how long FDR was president? He was the only president to get four terms. Four. You'd think if his policies were such a success that the economy would have done well under him. It didn't. Unless your idea of fixing the economy is increasing food stamps and lines at unemployment, he didn't fix anything. In fact it's generally understood now that FDR did even more damage to the economy than Hoover and in fact prolonged the Great Depression. The United States endured many depressions and recessions before the Great Depression and yet always managed to get out of them over time. FDR's decades of rule did nothing to help us and in fact hurt us. The reason FDR gets credit for "fixing" us is because of the sentimental connection people have to his era because he kept the faith, and because he was president during WWII which is what really ended the Great Depression. WWII saved us, not the government. WWII forced us to go back to our industrial base. Tanks and Planes don't build themselves. But no, someone "doing something" really did nothing but hurt us.

    Doing nothing is the worst thing to possibly do.
    History says otherwise. When left to itself the economy corrects and returns to normal. Any free economy should experience downturns every now and then. The crisis we have now wouldn't have happened if the government minded its own business and didn't try its hand at social engineering.

    And this stimulus isn't all about giving us money. It is also about tax cuts. Which is when I last checked, good. The concept of actually doing something to help people is such a strange and scary thought but we have to do it! Even if it means...-tear- helping middle class families.
    That's a lie. The left has been saying that a third of the package goes towards taxcuts. However the budget analysis says otherwise. $100 billion is government spending because it's giving government handouts to people that don't pay taxes; that's a welfare check, not a taxcut. Any real tax cuts would only be around 22% of the final package. You know what the rest of the more than $600 billion remaining will go towards? The federal government! It's a SPENDING BILL! I'm middle class and this "stimulus" isn't going to help me at all. It doesn't help me when Congress is giving billions of dollars to failed businesses that can't push their products to make a profit, is printing money to fund itself, and is giving tax cuts to people that don't pay taxes. Propping up failure isn't a form of success, never has been, and never will be.

    Now I admit, this stimulus package is not the best. But it is better than nothing.
    No it's not. Spending nothing would be better than wasting money we don't have. You know what could have been done with this money? We could have paid off every American's mortgage instead of giving it to water parks. We could have given every American $5,000 dollars each, direct stimulus, which would actually make a difference in the lives of Americans unlike giving the money to bureaucracies. Are we doing any of that? No, instead we're trusting the same government that bankrupted social security to raise our economy from the ashes like a phoenix. Guess what- much of the money isn't even going to take effect for two to three years. Just in time for the next elections. Yay. The Democrats stuffed this thing full of pork to hold on to their constituencies. In fact it almost cost us trading partners because of the "buy American" portions influenced by big labor. Europe threatened us with a trading war. This is really different from Hoover though, right?

    Doing nothing will put us in a depression.
    No it won't. Bad fiscal policy, high taxes, the wefare state, protectionism, overregulation of business, redistributing wealth, punishing success, and devaluing our currency will.

    Stimulus plans helps the economy, which we both already establish.
    Yes, they do, when there's actual stimulus involved. Paying a guy to dig a hole and paying another guy to fill in that hole might be job making in the eyes of liberals, but in the long run those are temporary jobs which will have no impact on our situation and will only prolong our problems. This idea that calling something a stimulus plan cuts off debate and requires people to give up their common sense and just accept that it has to be passed is absurd. People are supporting this package and they don't even know why. What is being stimulated? What jobs are going to be made from this? Honest to God- More than 800 billion dollars for WHAT? Almost 1600 pages, and no one has read it! But we're all just supposed to take Obama's word, Nancy Pelosi's word, and Harry Reid's word that we need this? We're supposed to just accept that all these people in Congress voted for this thing without even reading it? You know, the economy isn't great, but I think the American people are patient enough to wait to see what exactly it is their representatives are voting for. I'm willing to bet there'd be little to no support from the people for this spending package if they knew the details.

    My point is, this plan is good, we should support it because it will help! It is the governments job to provide welfare, and help. If they don't, welcome back Black Tuesday. And news flash, we are already in a trillion dollars of debt. Another trillion wont really effect us right now. We are still paying off the first and it will take awhile to do that. Something is better than nothing, this plan is something, a good (but not the best) something. It will put money into our economy, helping it to recover. It will create tons of jobs which is another plus.
    No, the government's job isn't to provide welfare; it's to promote the general welfare. The best way to do that is to create favorable business environments and decrease taxes, not control our wallets, spend more money, and ruin our capitalist system. Black Tuesday? Fear is a powerful motivator indeed, but facts are too. So instead of realizing that trillions in debt is wrong and trying to pay it off, you'd rather just add to it? Yeah, don't stop the bleeding, make the wound bigger. In this case, less is more. No jobs will be made. This is so reckless. It's been tried before in America, in Japan, and darn near every part of the world and it doesn't work; it only hurts us.
     
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    Aurafire

    provider of cake
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    Well, I don't have any opinion yet, but the Republicans are bashing Obama as a president just because they don't believe the bill is bipartisan ...AND WHADDYA KNOW, Sen. John McCain just happens to be first on the scene.

    https://www.cnn.com/2009/POLITICS/02/15/obama.gop.stimulus/index.html :B

    When only three Repubilcans from Congress vote for it, I wouldn't call it bipartisan either. The fact of the matter is there was no way that Obama was going to get any good amount of support from the Republicans for this particular bill...Not with all of that frivolous spending. I'm shocked that anyone from the Obama administration could say with a straight face that this was a bipartisan effort. I'm glad that the Republicans are calling Obama out on this and standing up for what they believe.

    Anyway, Agent Cobalt said it all...This is just the beginning of an administration that is going to increase the size of government, which I am not in support of at all. I shudder to think what Obama plans on doing next >.<
     

    Agent Cobalt

    Proud U.S. Army Soldier
  • 191
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    When only three Repubilcans from Congress vote for it, I wouldn't call it bipartisan either. The fact of the matter is there was no way that Obama was going to get any good amount of support from the Republicans for this particular bill...Not with all of that frivolous spending. I'm shocked that anyone from the Obama administration could say with a straight face that this was a bipartisan effort. I'm glad that the Republicans are calling Obama out on this and standing up for what they believe.

    Anyway, Agent Cobalt said it all...This is just the beginning of an administration that is going to increase the size of government, which I am not in support of at all. I shudder to think what Obama plans on doing next >.<

    Not to mention that those Republicans are RINOs, so it's no shocker they voted with the libs. No Republicans in the House voted for this, and almost none in the Senate. On the other hand, a noticeable amount of Democrats dissented from their party and refused to support the package. If anyone's bipartisan, it's the side against this bill! :laugh:
     
  • 9,468
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    Ok I guess I won't be able to post much right now since I'm Lazy XD there's no time.

    First of all the Plan is just the start at stabilizing things across the world.

    Secondly, this is just a temporary measure really. It's just trying to lessen the impact of the recession. Yeah we like to say "Putting on the backs of our children" but then again it's not politically viable to NOT do anything. Aid to States is included in that. My state of California has already cut back one day of each month in government services (Furloughs) to save money.

    Third, You guys think this is big? Wait until the next Crappy TARP program comes out.
    If it was me, let's go trust busting and break up the banks that are "too big to fail" since "they're too big to exist."

    Eh, I know my explanation isn't really good right now but time...

    Maybe tomorrow?
     

    Gengarchomp

    n00bier than you
  • 79
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    Ok I guess I won't be able to post much right now since I'm Lazy XD there's no time.

    First of all the Plan is just the start at stabilizing things across the world.

    Secondly, this is just a temporary measure really. It's just trying to lessen the impact of the recession. Yeah we like to say "Putting on the backs of our children" but then again it's not politically viable to NOT do anything. Aid to States is included in that. My state of California has already cut back one day of each month in government services (Furloughs) to save money.

    Third, You guys think this is big? Wait until the next Crappy TARP program comes out.
    If it was me, let's go trust busting and break up the banks that are "too big to fail" since "they're too big to exist."

    Eh, I know my explanation isn't really good right now but time...

    Maybe tomorrow?

    I hope it isn't just the start. I don't like being $11 Trillion+ in debt. And define"politically viable." Are you saying that the only way to get re-elected is to vote for something that looks appealing on the outside, but is really a wolf in sheep's clothing? Or are you saying that spending money will get us out of debt?
     
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