Obama looking at $850 billion jolt to the economy

[one...two...tree 2,762]

WASHINGTON – Anxious to jolt the economy back to life, President-elect Barack Obama appears to be zeroing in on a stimulus package of about $850 billion, dwarfing last spring's tax rebates and rivaling drastic government actions to fight the Great Depression.

Obama has not settled on a grand total, but after consulting with outside economists of all political stripes, his advisers have begun telling Congress the stimulus should be bigger than the $600 billion initially envisioned, congressional officials said Wednesday.

Obama is promoting a recovery plan that would feature spending on roads and other infrastructure projects, energy-efficient government buildings, new and renovated schools and environmentally friendly technologies.

There would also be some form of tax relief, according to the Obama team, which is well aware of the political difficulty of pushing such a large package through Congress, even in a time of recession. Any tax cuts would be aimed at middle- and lower-income taxpayers, and aides have said there would be no tax increases for wealthy Americans.

....

http://news.yahoo.com/s/ap/20081218/ap_on_.../obama_stimulus

[mawilson 2,133]

Turning Japanese

I think I'm turning Japanese

I really think so

La la la la la

All that borrowing can't be good for the dollar! The euro has gained 8 percent on the

dollar this week alone!

The Bank of Japan meets tomorrow and will probably be chasing the Fed down to 0 with

their rates. If they don't, the dollar will become the funding currency for the carry trade;

in other words, people will borrow in dollars to park money in currencies which offer them

a higher yield. That would continue to push the dollar down and would ultimately be bad

for us.

What's interesting though is that the relationship between the dollar and the price of oil

seems to have broken down completely. For years, oil and the euro have been linked -

a stronger euro has meant more expensive oil... that relationship is now completely over -

the euro has gained 16 percent in the past month, whereas the crude price has dropped

13 percent!

At least we won't have to worry about rising gas prices for a while...

[Hilarious Clinton 452]

Maybe we can all get jobs printing US Dollars.

[Pinocchio Liberal 268]

We are all soon to be part time government employees. Falls to knees in praise of Obama. I wonder if hes gonna donate his senate seat money to the cause.

[Pinocchio Liberal 268]

This thread should be called: Obama uses economic situation to push socialism! I see it as the begining of the end for the democrat party.

Edited December 18, 2008 by ={Rogue}=

[*Robert* 2]

We are all soon to be part time government employees. Falls to knees in praise of Obama. I wonder if hes gonna donate his senate seat money to the cause.

Why do you hate Government employees?!

Why do you hate the Democratic party?!

[Niels Bohr 72]

What a dissapointment then. Government employee only getting a max $1200/year. Very Funny.

[Pinocchio Liberal 268]

We are all soon to be part time government employees. Falls to knees in praise of Obama. I wonder if hes gonna donate his senate seat money to the cause.

Why do you hate Government employees?!

Why do you hate the Democratic party?!

Where is the word hate?

[Hilarious Clinton 452]

We are all soon to be part time government employees. Falls to knees in praise of Obama. I wonder if hes gonna donate his senate seat money to the cause.

Why do you hate Government employees?!

Why do you hate the Democratic party?!

Where is the word hate?

To a liberal:

disagree = hate

get the memo?

[mox 298]

This thread should be called: Obama uses economic situation to push socialism! I see it as the begining of the end for the democrat party.

You do understand that by the time the current President leaves office he will have doubled the national debt? It's the same President that's presided over the socialization of our banks and credit industry, and is about to bypass congress to socialize the auto industry.

Fine if you want to criticize Obama for being a socialist, but you need to include Bush in there as well.

[Niels Bohr 72]

I don't think luckystrike believe Obama is a socialist because he's not the same conservative crowd that is on the pycho team. Same with the liberals.

[HAL 9000 96]

Obama is promoting a recovery plan that would feature spending on roads and other infrastructure projects, energy-efficient government buildings, new and renovated schools and environmentally friendly technologies.

There would also be some form of tax relief, according to the Obama team, which is well aware of the political difficulty of pushing such a large package through Congress, even in a time of recession. Any tax cuts would be aimed at middle- and lower-income taxpayers, and aides have said there would be no tax increases for wealthy Americans.

There you go.

[*Robert* 2]

We are all soon to be part time government employees. Falls to knees in praise of Obama. I wonder if hes gonna donate his senate seat money to the cause.

Why do you hate Government employees?!

Why do you hate the Democratic party?!

Where is the word hate?

To a liberal:

disagree = hate

get the memo?

LS, who is a liberal?

And, why do you hate liberals?

[one...two...tree 2,762]

We are all soon to be part time government employees. Falls to knees in praise of Obama. I wonder if hes gonna donate his senate seat money to the cause.

Why do you hate Government employees?!

Why do you hate the Democratic party?!

Where is the word hate?

To a liberal:

disagree = hate

get the memo?

LS, who is a liberal?

And, why do you hate liberals?

Brother, you're going down a long dark winding road with no exits.

[mRx 16]

It's the same President that's presided over the socialization of our banks and credit industry

Only these company's losses have been socialized. Their profits do and will remain privatized.