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215 Comments
- zacharytelschow, on 07/14/2009, -14/+53"The time to get ready for a serious infrastructure program is now."
The time to get ready for a serious infrastructure program was 5 months ago. Congress blew it, and there's no way I would support a second stimulus program regardless of how well placed the money was. This Congress and administration have seemingly made an effort to exaggerate the worst characteristics of government. - MonkeyClaw, on 07/14/2009, -14/+49Normally I disagree with most things the WSJ says but this time, there is a ring of truth to this article. We are not out of this mess yet by any stretch of the imagination.
- exec0extreme, on 07/14/2009, -4/+28WHO DO I TRUST?
http://img32.imageshack.us/img32/9578/85011247.jpg
Edit: Probably the WSJ - phydeaux70, on 07/14/2009, -16/+38When will the time come for people to stop falling for the rhetoric of this administration and Congress, and start speaking out about results? The MSM seems uninterested in reporting, and unless Obama gets asked questions at his prescripted press conferences, everybody continues to get information from a third person perspective.
- tweedius, on 07/14/2009, -2/+19Pretty funny, you have one digg article saying "Predicting a recovery soon".
Followed by: "The economy is even worse then you think".
Lol... - Awwzm, on 07/14/2009, -1/+17No one knows what the *****'s going on.
- greenmoonice, on 07/14/2009, -1/+15Sorry to say but it most Americans have no clue how bad the economy is. I work with a public utlitiy and for YEARS we have been cutting back maintance and replacement on parts becuase it's too expense to repair. Just look at the cost of wire. On the back of our large trucks are massive spools of heavy guage wire. In 1990 each spool cost about $800 now that same spool cost over $15,000 and the prices keep on rising. Parts that used to $20-$30 now cost several hundred dollars. We used to charge $10,000 to $20,000 to intall power lines in to sub divisions now cost are well over $100,000. Here's the catch, we quickly reaching the state where majors repairs will be required and there is no money for it. The result is where I work they already have done surveys of which parts of the grid to permamently shut down in order to canobolize for parts.
- mark5hs, on 07/14/2009, -2/+16The inflation that's kicking it won't help much either. You can't really add a trillion to the economy without the value of the dollar going down.
- gradient01, on 07/14/2009, -5/+18Let me guess, the NYT is just the pinnacle of journalism? I suggest you actually start reading the WSJ on a more regular basis ...
- Hetman, on 07/14/2009, -8/+20It has been appropriated for certain investments. The majority of it has not even been handed out to these investments yet. So it has not been spent yet.
- oldhick, on 07/14/2009, -11/+22But here we see why Conservatives making fun of liberals is ridiculous. Which conservative administration reduced spending and balanced the budget? As a conservative, I can say we're all in the same boat. It's nearly impossible to reduce spending as the largest expenditures are entitlements. Also, to pay our debts back we would need to raise taxes, not lower them.
- nubnub, on 07/14/2009, -1/+11everything sucks
- AdrenalineJunky, on 07/14/2009, -3/+13The only people saying that the economy is going to rebound within a few months are those who have a vested interest in saying so.
They'd like a large portion of the population to spend more than they can afford to restart the economy. They do not care that those same people will likely go bankrupt from doing so. All they care about is pimping "confidence" so that some group of fools will take the hit and forever be ground under the wheels of progress so that the rest of us can enjoy a few years of "prosperity".
Judging from the comments here, it looks like the average person is getting smart to the game. The economy will not recover until the bad banks are allowed to fail so that their massive debt can be written off. Only then can we start fresh with an economy unencumbered by massive debt. The government's attempt to stave off the implosion of the bad insolvent banks (almost all of the BIG ones) is proving to only be a continuing drag on the United States. If they don't stop this crap soon they will just cause the COLLAPSE of the country. - slug007, on 07/14/2009, -3/+12In other news, California is now a part of Mexico...
- xGORDOx, on 07/14/2009, -13/+22Yea, stimulating only the folks who voted for you really does nothing to create jobs.
Small businesses create 2/3 of all new jobs, and the Obama admin wants to now tax them in a higher bracket. This is the kind of moronic governing people elected last year. Awesome. - toray99, on 07/14/2009, -9/+18Hate to tell you but over 80% of the people told their senators and congress NO to the first Porkulus bill and they passed it anyway. I believe this 2nd porkulus bill will have over 90% of the people telling their reps NO. Bettcha they pass it. The people of the USA DO NOT have any representation from washington.
- inactive, on 07/14/2009, -27/+35Thank Clinton for starting the affirmative action mortgages and getting Fannie/Freddie to buy the worthless paper.
- duncan202, on 07/14/2009, -2/+10Nobody
- Cputerace, on 07/14/2009, -2/+10"so, who would you tax more then?"
Talk about a messed up mentality. You can't conceive of any other solution than tax someone else more? - dreamache, on 07/14/2009, -1/+9AnotherDiggGuy, speaking the truth. I'm willing to bet you'll end up with a negative digg count too, because the obama sheople refuse to believe it even though it's right in front of their faces.
- Hetman, on 07/14/2009, -15/+23Most people have not recieved the money yet. So we really do not know how this investment turned out. It is going to take awhile for the stimulus to actually take affect.
- alamedaman, on 07/14/2009, -2/+10keep spending future generations money! that will solve everything!
- zacharytelschow, on 07/14/2009, -6/+13I agree that the people aren't represented, but at the same time they're getting what they voted for.
- akchrs, on 07/14/2009, -14/+21Thanks Obama.
- Disc2day, on 07/14/2009, -2/+9What? How come I've seen other articles saying that the recession is over, and it's time to build back up :-(
We probably haven't even seen the worst of it. - Cputerace, on 07/14/2009, -0/+6Whats worse than Government doing nothing?
Government doing something... - mikersx02, on 07/14/2009, -2/+8It wasnt clinton that started the Community Reinvestment act originally... he just added to it. Carter started it. But yes- lending to people who obviously couldnt pay it back is what caused this problem. It doesnt matter what color or nationality you are- if you make 30k- you shouldnt be in a 300k home.
- diggadigga, on 07/14/2009, -1/+7In the bay area things are pretty bad, but they might close down the nummi car plant, which would cause a ripple affect for all the suppliers and then all the retail/services.
- flip2trip, on 07/14/2009, -13/+19You had me till you mentioned Carter
- inactive, on 07/14/2009, -0/+5Nobody said it was the fault of any minorities.
Except maybe you.
It was the fault of your Democrats for forcing banks to lend to minorities that couldn't pay. Then the Dems forced/allowed Fannie/Freddie to buyback those bad mortgages. And they bought tons of liar's loans that were written to non-minorities too.
That also brought lots more people into the housing market that shouldn't have been there. Bidding the prices up for no reason.
The free market works fine. But when the government says non-payers can default and the government will pay -- that ain't the free market. - zacharytelschow, on 07/14/2009, -12/+17"Say what you want about Carter, but you can't list on one hand the insiders who got rich during his presidency."
You also can't list anyone who got rich in the Soviet Union. Does that make them the best leaders of all time? - kaelyiesta, on 07/14/2009, -2/+7Yea, they lost me at the second bailout proposal.
- URnotheonly1, on 07/14/2009, -8/+13Obama & Democrats have plundered the United States of trillions. He currently has a 140 thousand man Army sitting in the middle of the desert with it's thumb up it's ass, he is supporting leftwing governments and Islamic Mullahs.
It is real folks. So anyone still missing the trickle down economics lesson? Go buy something today and help your country men - jnisme, on 07/14/2009, -0/+5Please, please, please. Then the rest of us would have a chance at recovery. It amazes me how we are taking advice on how to fix things from the very people who ruined CAs economy.
- duncan202, on 07/14/2009, -1/+6Skip to B, then worry about A.
Answer to B - stop spending. - SchmuckofNI, on 07/14/2009, -2/+7I told you so. Now we have to wait until 2012 for real change, that is if we have any pocket change left.
- AnotherDiggGuy, on 07/14/2009, -1/+6Step 1 would be to get people in the white house who don't lie at every turn just to get more votes come next election.
Nothing can progress until this happens. - joshmoney, on 07/14/2009, -2/+6It's this kind of thinking that's partly responsible for the mess we're in. Assuming that because something comes from "the other side" it is automatically wrong, is a very dangerous way of thinking and it's this type of "ad-hoministic" attitude that causes entire nations to go down with the ship. All because no one wanted to admit that maybe, on some issues the other guy just might have been right.
- AlwaysTurning, on 07/14/2009, -1/+5Yes who? Because we obviously need to steal from SOMEONE
- Cputerace, on 07/14/2009, -0/+4Father to his squabbling children:
"I don't care who started it, just finish it" - drmangrum, on 07/14/2009, -2/+6The solution is less spending, not more taxes.
- akchrs, on 07/14/2009, -0/+4Exactly.
- eastwood24, on 07/14/2009, -1/+5The entire first half of this article is basically the differences in U3 (the official employment rate) and U6, the broadest measure tracked.
- bluto36, on 07/14/2009, -2/+6@treehugger
wrong about Carter also.
the rich got richer under Carter more so then Reagan.
interest was so fricking high under carter that the rich could not help but make massive gains on investment interest alone. the NOT rich normally do not make good money on interest investments.
http://www.thefreelibrary.com/Did+the+rich+get+ric ... - bluto36, on 07/14/2009, -9/+13sweet class envy treehugger
- iamacea, on 07/14/2009, -1/+5I noticed that as well. It really is a wonder watching so many different people try to understand what's going on.
- razorc03, on 07/14/2009, -0/+4I don't understand the problem.
I trust that Dragon Quest IX will smash records. - jnisme, on 07/14/2009, -2/+6Don't forget Dodd and Frank.
- akchrs, on 07/14/2009, -1/+5They will.
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