The Stimulus Package

TheGame · 02-09-2009, 06:04 PM

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.

BreakABone · 02-09-2009, 07:01 PM

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.

Jason1 · 02-09-2009, 07:16 PM

I thank the 3 of you for caring about the people out there that are suffering right now. Thank you.

Professor S · 02-09-2009, 10:53 PM

Quote:

Originally Posted by BreakABone

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.

http://www.bloomberg.com/apps/news?p...d=aNDaPlDwNZak

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.

TheGame · 02-09-2009, 11:52 PM

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

Bond · 02-10-2009, 11:22 PM

Quote:

Originally Posted by Professor S

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).

Professor S · 02-12-2009, 12:20 PM

The DOW has dropped 300 points since the stimulus bills passed the cloture vote. Awesome.

By the time the banking and housing plans pass we'll be bartering beads for beaver pelts...

EDIT: Sorry make that a 400 point drop... ugh... I hope I can look at my 401k balance sheet again sometime soon...

EDIT2: Now its back up and finished almost even on the day... I'm just not going to look at it anymore...

KillerGremlin · 02-13-2009, 10:20 AM

Quote:

Originally Posted by Professor S

EDIT2: Now its back up and finished almost even on the day... I'm just not going to look at it anymore...

DOW: THE RIDE!

(warning: pregnant mothers and people with heart conditions not recommended)

Bond · 02-09-2009, 11:54 PM

Quote:

Originally Posted by TheGame

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.