Obama advisor is looking for a second Stimulus
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Laura D'Andrea Tyson, speaking in Singapore has suggested Obama should consider a second Stimulus Bill. Another 700 or so Billion? She says the first one was not enough so we should do it again.
That idea is akin to shooting at a target. The cartridge does not fire so you look down the barrel and try it again.
She is an ex Clinton advisor Obama hired.
She says not to worry about the accompanying inflation because it is not a concern. I don't know about her but double or triple inflation is certainly a concern to me. It would cut my useable income by that percentage. I'm having enough trouble with the fall-out from the last stimulus package.
She says the Fed will not let the dollar fall far and not worry about it because the dollar should decline. All the Fed has to do is make some rapid adjustments to its balance sheet. Isn't that why we have a bill before Congress to audit the Fed.? Bookkeeping Adjustments.
She is not too worried about 9.5% unemployment (That is truthfully 20% but because of the way the government figures it, it's 9.5)
What kind of a screwball did Obama hire? I suspect she made that speech in Singapore so she would not get Booed off the stage.
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Comments: 23
With only 6% of the first "Porkulus" bill spent, the Dems are talking about a second giveaway to their supporters.
Oink, oink!
I think I missed something. Where did the 6 percent come from. I thought more than half of the bailout money was allocated to be spent already, few months ago.
That depends of which of the funds you are looking at I think. It may depend on who is doing the counting tool
Jeff, it depends on which press release you use. The White House spinmeisters have used "appropriated", "allocated", "spent", and "committed' on the PRs that I have seen.
You don't think they are trying to confuse us do you? I mean, the President promised a transparent administration, didn't he?
I was confused before, but I am now very confused.
The President will be pleased.
NO,, Obama and the administration would never think about confusing any issue, The very idea!
Ditto what Randy said. It only proves the stimulus or porkulus doesn't work. Why? Socialism doesn't work.
I think I'll start refering to Washing DC as the Hog Farm. Some of you will understand that one.
Charles, you don't know what a Hog Farm is do you.
Great article Col George. Thank you
No! Can they really be that dumb???
That would really trigger some inflation, lengthening the current depression.
Oh yeah they can be that dumb.
I have a better idea. The government gives every citizen 1 billion dollars. That would cost approximately half of what the last "stimulas" cost and do a whole lot more good. Especially since we don't have to worry about inflation.
1 billion?
How about give 150 Million citizens over 16 or 18 $5,000. (Except the illegal immigrants) That would cast about the same amount as the last stimulus.
Problem is there is no such thing as free money and it would be paid for in taxes or inflation.
Yeah but we would be able to pay the taxes.
One of the things about Keynesian economics is this; it has failed every time its been tried and the excuse for failure is always the same--not enough was spent. No matter how much, its never enough.
Sound like a good way to go broke and deep in a hole. That's our Government allright.
From what I've neard we're practically begging China to buy our debt. Yea borrow more money that's the answer.
Roosevelt is one of Obama's heros. He did the same thing trying to get us out of the depression. The second WW did it in spite of FDR.
Obama - the MODERN PROGRESSIVE?
Emulating FDR: A horrible idea
http://www.gather.com/viewArticle.action?articleId=281474977729765
That article seems to claim Wilson was the Socialist not FDR. The programs described were FDRs wern't they?
He can dig out that "vibrator" and stimulate with that!