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Re: The Stimulus Package
Bond, if you don't mind, can you scale that first graph down to the last 10 years? And also include real numbers instead of percentages? (You did post a nice secondary graph that helps, but a 50 year example is too large.)
By the way, I don't think tax cuts are ALWAYS bad, I just don't believe that they're ALWAYS the answer. Two different extremes there.
And of course, I have to toss in the fact that if you put a 50 year example of the debt the country has gotten into, I'm sure the slope would move up a lot faster then even the GDP.
__________________ "I have been saying this for some time, but customers are not interested in grand games with higher-quality graphics and sound and epic stories,"-Hiroshi Yamauchi
The Senate has voted for cloture on the Stimulus bill.
Not exactly sure what that means.
But it does get us past the filibuster stage, right?
Anyhow a vote of 61-39.
I believe thats correct. At least the debate was able to pear down the stimulus by $106 billion... not that it matters much when we tax payers are already on the hook for $9.7 trillion.
Thats a number thats just too big to comprehend. We haven't even gotten to the banks or housing plans yet...
I'm no economic expert and I'll be the first to admit I have no clue how national debt affects mainstreet economies, but this kind if daunting debt and IMO recklessness can't be good. But then again we're in new territory here. No one has ever taken the US or another world power this far into the red. Who knows? Maybe we'll spend so much we'll tear a whole through our own reality into a land of gumdrops and money trees.
In the end we'll see how wallstreet reacts tomorrow. That will be a decent indicator of whether or not this now inevitable spending bill will help or delay economic recovery.
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Last edited by Professor S : 02-09-2009 at 11:04 PM.
Now Playing: Shut the hell up and quit asking me questions
Posts: 3,412
Re: The Stimulus Package
Quote:
Originally Posted by Professor S
I'm no economic expert and I'll be the first to admit I have no clue how national debt affects mainstreet economies, but this kind if daunting debt and IMO recklessness can't be good. But then again we're in new territory here. No one has ever taken the US or another world power this far into the red. Who knows? Maybe we'll spend so much we'll tear a whole through our own reality into a land of gumdrops and money trees.
You should read up on the fed. Its not exactly the best situation to say the least. Though the funny part is they couldn't recollect what we owe them even if they wanted to, but if they were to request any type of plan with any type of reasonable time limit... The economy here is done. lol
__________________ "I have been saying this for some time, but customers are not interested in grand games with higher-quality graphics and sound and epic stories,"-Hiroshi Yamauchi
In the end we'll see how wallstreet reacts tomorrow. That will be a decent indicator of whether or not this now inevitable spending bill will help or delay economic recovery.
The market is, at least initially, responding very poorly (looking at today's trading numbers).
Bond, if you don't mind, can you scale that first graph down to the last 10 years? And also include real numbers instead of percentages? (You did post a nice secondary graph that helps, but a 50 year example is too large.)
I'll do this over the weekend (it will still prove the same point, though).
Will post some more thoughts on the economy then as well.
On a similar unrelated note, I liked one of the answers when Leno did his "Presidential Jeopardy" last night. One of the answers was Stimulus Bill. "Bush" responded with "What is Bill's nickname in the White House". I busted out laughing at it and then wondered why I never thought of that.
Again, the problem is not that tax revenue is too low, or that tax rates are too high, the problem is spending massive amounts of money above and beyond a nearly constant tax revenue stream.
The funny thing is they would never give any specific examples of why they voted against it.
__________________ "I have been saying this for some time, but customers are not interested in grand games with higher-quality graphics and sound and epic stories,"-Hiroshi Yamauchi
The funny thing is they would never give any specific examples of why they voted against it.
Game, those that were against this bill have been VERY specific about their reasons and have expressed this in multiple televised press conferences. I've even posted video clips of some of the specific reasons why they're against it. If anyone has been vague, it's those that have been FOR the bill, talking more about partisanship and obstructionism than the bill's merits.
In the end it's passed and we'll see what happens. Personally, I think that the economy will recover, because it always does, but it will in spite of the "stimulus bill". I just hope the delay isn't too crippling.
The even funnier thing is that it is nearly inconceivable that any representative had time to read the finalized bill for a re-vote (not for lack of trying, simply because the bill was slammed through so fast):
Re: The Stimulus Package
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