NationStates Jolt Archive

Obama's (potential) $850 billion plan. (http://www.msnbc.msn.com/id/28278398/) With the low range being $400 billion, at the least...
Another link (http://www.bloomberg.com/apps/news?pid=20601087&sid=aUFoKztwd6bw&refer=home), and another (http://www.usnews.com/articles/news/2008/12/18/obama-assembling-850-billion-infrastructure-spending-plan-to-jolt-economy.html), and another. (http://www.huffingtonpost.com/2008/12/18/obama-economic-stimulus-c_n_151986.html) That's larger than the budget for the Pentagon.
While some economists consulted by Obama's team recommended spending of up to $1 trillion over two years, a more likely figure seems to be $850 billion.
$1 trillion dollars. ...That is an amazing amount of money. ...Just wow.
Where are we going to get the money from?

Obama's (potential) $850 billion plan. (http://www.msnbc.msn.com/id/28278398/) With the low range being $400 billion, at the least..
Another link (http://www.bloomberg.com/apps/news?pid=20601087&sid=aUFoKztwd6bw&refer=home), and another (http://www.usnews.com/articles/news/2008/12/18/obama-assembling-850-billion-infrastructure-spending-plan-to-jolt-economy.html), and another. (http://www.huffingtonpost.com/2008/12/18/obama-economic-stimulus-c_n_151986.html)
That's larger than the budget for the Pentagon. Where are we going to get the money from?

Bonds.

Probably.

Bonds.

Probably.Up to $1 trillion (More likely to be $850 billion, though.) in bonds? Well, that promise of 2.5 million jobs does seem more realistic with that amount of money backing it.

to be honest this looks like an expansion of Bushanomics. low taxes + checks from the government.

it will be payed for in bonds. US bonds have been one of the safest investments in the world we even paid off the bonds from before we were a country.

What.....The.....Fuck...

*waits to see how high taxes will go*

What.....The.....Fuck...

*waits to see how high taxes will go*The emerging plan is a blend of new jobs, middle-class tax relief and expanded aid for the poor and the unemployed, congressional officials said Wednesday.
Maybe not as high as you think, Wil?

Maybe not as high as you think, Wil?

Well the money has to come somewhere, and I dunno how much longer other countries are going to keep lending us money on a credit.

Well the money has to come somewhere, and I dunno how much longer other countries are going to keep lending us money on a credit.Spending cuts? Not sure what we could actually cut the spending on, though.

Well the money has to come somewhere, and I dunno how much longer other countries are going to keep lending us money on a credit.

its not just other countries our own citizens will too. Don't look at the raw amount of debt. look at the debt as a percentage of GDP(more or less our ability to repay). percentage wise we have been in debt far more (WWII). also the rich tend to lean more to bonds as other investment opportunitys dry up in the private sector.

Spending cuts? Not sure what we could actually cut the spending on, though.

and you know that any tax hike on the rich will have them balking at it, and most of the rich have strings in Congress.

Spending cuts? Not sure what we could actually cut the spending on, though.

getting out of Iraq will save 100 billion a year. i could easily see cutting military spending another 100 billion a year.

Vietnam they were asking us to stay and we left.
In Iraq they are asking us to go and yet we stay.

and you know that any tax hike on the rich will have them balking at it, and most of the rich have strings in Congress.Article says no tax hikes for the rich. (Lolyearite.)

getting out of Iraq will save 100 billion a year. i could easily see cutting military spending another 100 billion a year.

Vietnam they were asking us to stay and we left.
In Iraq they are asking us to go and yet we stay.We're leaving in 2011. Not soon enough, but at least we're leaving.

So we don't tax the rich, middle class, or poor...and we're not out of Iraq till 2011, and so far there's not much place to trim the budget in.

So, who still believes in the Tooth Fairy?

This will be paid for through increased taxes and/or major inflation. The fed has cut interest rates to near zero - what effect will that have on the bond market? The government ponzi scheme of handouts must eventually collapse.

This will be paid for through increased taxes and/or major inflation. The fed has cut interest rates to near zero - what effect will that have on the bond market? The government ponzi scheme of handouts must eventually collapse.

it will have no effect on the bond market.
the interest rates of bonds are triggered by supply and demand not the fed reserve rate.

all bonds offered get bought up the government lowers the rate on bonds.
Not enough bonds are bought the government raises the bond rate.
If you can call something that has never failed to pay returns in over 200 years a ponzi scheme by all means do so.



though i do agree we got to get off this interest rate cutting madness.

So we don't tax the rich, middle class, or poor...and we're not out of Iraq till 2011, and so far there's not much place to trim the budget in.

So, who still believes in the Tooth Fairy?

And who here isn't doing a Potato Boy impression and will actually wait until Obama takes office to judge him?

Bonds.

James Bonds?

James Bonds?

No, Barry.

We will fine the living fuck out of him. :)

And who here isn't doing a Potato Boy impression and will actually wait until Obama takes office to judge him?

well he is already working on policies so its fair to judge him for that.
However lets see the results of the polices before we get too negative.