What is Digg?Sponsored by Best Buy
Maybe The Best Tech Deal EVER--Give Computers To Whole Family view!
bestbuy.com - Geek Squad(r) installation, HP desktop, monitor, laptop & netbook, wireless router--all for $1,199.99!
192 Comments
- brbeaird, on 07/20/2009, -22/+122"The program crafted by Obama and the Democratic Congress wasn't engineered to maximize its economic impact. It was mostly a political exercise, designed to claim credit for any recovery, shower benefits on favored constituencies and signal support for fashionable causes."
Never let a crisis go to waste, right? - eastwood24, on 07/20/2009, -16/+72So essentially our government is rewarding the very financiers/money changers most responsible for the economic downturn by borrowing money from our children's future?
The fact JP Morgan, GoldmanSucks and the like recoded billions in 'profits' by simply using bailouts to fluff their balance sheets is just a friendly reminder of who our government is really supporting. - shauncorleone, on 07/20/2009, -18/+62There's a reason the majority of stimulating is supposed to take place in an election year. When will people realize that politicians aren't interested in the well-being of the people, and that people should work to be self-sufficient. Keep government out of our lives as much as possible.
- sharke, on 07/20/2009, -18/+53It's a little known fact that FDR also distributed relief money during the Depression according to a very shrewd political agenda. The poorest states that needed the most relief were traditionally Democrat states guaranteed to reelect him no matter what...so FDR minimized relief funds to them. Where did the bulk of the money go? To the states in which his support was flagging - which also happened to be the richer states least in need of relief. In short, he used the relief money to buy support from states which would not traditionally vote for him in large numbers.
Fast forward to Obama and it's the same despicable crap - the details and the strategy are different, but the philosophy and intent and corruption are all there. Boy, I can't wait until 2010 when these bastards lose their first testicle, then 2012 when they lose the other. - bluto36, on 07/20/2009, -21/+55wait till oh maybe July or Aug of 2010, then you will see the stimulus money flying from DC to whatever Democrat district that needs it for reelection.
you want some stimulus money? make sure your Local Dem is in a tight race come summer 2010 - lwhassell, on 07/20/2009, -8/+36Lets put the same jackasses in charge of our healthcare as well. Any bets on how long it will be until it's turned into the same political exercise? Oops, too late.
- bossm4n, on 07/20/2009, -14/+41I'm most disgusted by the fact that much of this alleged stimulus money was intended to go to these banks in order to keep credit flowing by providing funding for loans and such, especially for small businesses. I can assure you from personal experience, nothing could be further from the truth. Banks have tightened up their loan approvals to the point it's not even worth the effort to apply. And why? Because instead of using the money the fed provided for loans, they decided to use it to acquire more banks. I want to see people in prison for what's going on right now--politicians and bankers both.
- richmomz, on 07/20/2009, -13/+39Oh and it gets worse - watchdog group predicts total bailout cost could top $24 TRILLION (that's about $80,000 for every man, woman and child in America): http://digg.com/business_finance/Government_Tab_fo ...
- AnotherDiggGuy, on 07/20/2009, -12/+37This should be no surprise. $800 billion is nothing.
Check out page 22
http://www.occ.treas.gov/ftp/release/2009-72a.pdf
Not to pick on Goldman Sachs, but they have assets valued at $0.016 trillion, and have total directives exceeding $39 trillion, a full 2,500 fold increase. The top 25 banks hold $7 trillion in assets, and hold over $200 trillion in derivatives.
And people wonder why things are so messed up. Anyone who responds to this by blaming Bush, keep in mind Obama appointed many of those responsible to top positions in the white house. Obama has no intention of correcting the fraud and corruption that did exist before his presidency. - mobislink, on 07/20/2009, -14/+38Why should we need to stimulate people to buy ***** they don't need to save the economy. How many people really need new cars and how many want a car just to impress their neighbors. Fix it up and keep driving it as long as you can make it safe and reliable cost effectively. This is not a sustainable approach. Why should we stop house prices from falling. Let them fall to where they need to be to meet affordability/demand. I bought and iPod last week and it has lost value. Let give people our money so I can sell it next year for more than what I paid. WTF
- funkedup, on 07/21/2009, -7/+28Sometimes I wake up and ask myself, "How can the government possibly screw up our situation more?" They always seem to find a way...
- jeffiek, on 07/20/2009, -9/+28It worked for FDR
- nkleffman, on 07/21/2009, -13/+32By it's very definition, a government stimulus is going to be squandered. It is stealing money from the private sector, where the money would have been spent according to profitability, and now it is going to be handed out according to politics.
Even if the administration had good intentions, they are incapable of spending money to allocate scarce resources with the same efficiency that a free market can. - jetboyterp, on 07/21/2009, -19/+38HOPE!!
CHANGE!!
"Most honest, most open, most ethical Congress ever!"
Even my unicorn stopped farting rainbows. - NorthMass, on 07/21/2009, -2/+20They have put us on the hook for $24 trillion.
http://www.msnbc.msn.com/id/32010841/ns/business-u ... - Blinker1315, on 07/20/2009, -5/+23World II worked for FDR in gearing up the economy. 1937 was a nightmare economically, more than four years into his presidency.
- AmnesiacJack, on 07/21/2009, -12/+292010 / 2012 needs to be a tipping point when all of these lifetime politicians and crooks are voted out of office and replaced with some one else. What else can be done? They are the ones leading us into this disaster like some sick Pied Piper.
This isn't a partisan issue! There are more sides than left / right, democrat / republican and the country needs to see this and make changes accordingly! I don't know what every one else is doing but I urge you to spread the word and get the ***** out of office! - udistrictman, on 07/21/2009, -6/+17I work for an engineering firm that is getting stimulus money for various infrastructure projects. Maybe you need to have an education instead of a an XBOX high score award before this stimulus effects you.
- angryfirelord, on 07/21/2009, -5/+16So economic fascism is justified in your eyes as long as a liberal does it?
- Blinker1315, on 07/20/2009, -7/+18Politics as usual. People forget that Obama is a very, very good politician who's always thinking ahead to the next election. As for distributing money, Bill Clinton won New York overwhelmingly (especially New York City, where I lived at that time) and what did NY's voters get in return? The back of his hand.
- BuzzFriendly, on 07/21/2009, -14/+25And liberals call worrying and bringing the issue front and center fear mongering. Ok then I am a fear monger because I fear multi-trillion dollar deficit and so should everyone else.
- offrdbandit, on 07/21/2009, -4/+14Only an imbecile follows the words "it's a little known fact" with the phrase "was one of the greatest."
An imbecile or someone who doesn't know what the word "fact" means. - deweyhewson, on 07/21/2009, -11/+21The stimulus was never intended to stimulate anything. It was intended to socialize the financial consequences for the elite and the bankers by stealing the money from everyone else. General Motors, for example, got their money because they were "too big to fail" just in time to bail out the upper crust and then, of course, they were then allowed to fail.
As a general rule, the system has been designed so that the elitists who run the government and who get supported by it don't go to jail, they don't lose power, and they sure as hell don't suffer their own financial consequences.
It was just cleverly disguised so that Uncle Sam could pick our pocket while shaking our hand. - SaviorOne, on 07/21/2009, -6/+16It's the old game of privating the profits and socializing the losses, and we're going to pay for it.
- X9001, on 07/21/2009, -12/+21Digg comments summed up:
1) I never liked Obama so anytime there seems to be a setback in his agenda I'm going to remind you of how right I was and that you were all ignorant fools for not listening to me. *****, I voted for Mondale...
2) RON PAUL!: Because supporting 3rd party candidates with no chance of winning means never having to risk anything....
3) This is the first president I've supported that won so I'm disillusioned that not everything he promised to do is getting done on my expectation timetable. This must mean that Obama was the wrong choice.
4) Democrats and Republicans are all the same. Nothing at all has changed or ever will. No president has changed anything in America since the beginning of the two party system
5) Democrats are changing everything! Socialism/Marxism/Corporatism/Baptism! We have never changed this fast so quickly!!!!! Rush was right!
All these libertarian hate articles are making digg less fun - NorthMass, on 07/21/2009, -2/+11Exactly, we are bailing out banks(to the tune of $24 trillion now, I will post the article confirming this at the bottom of my post) just to keep afloat a ridiculous economic system of deficit spending to fund consumption. We don't need any new cars, we don't need to take out any new loans, we need to save money and start running surpluses and stop buying useless crap we don't need.
http://www.msnbc.msn.com/id/32010841/ns/business-u ... - Calcularius, on 07/21/2009, -6/+14All of you people complaining must not have IRAs or 401-Ks.
Mine are doing much better since November, thank you very much. - JohnGalt750, on 07/21/2009, -1/+9The great depression started in 1929 and really end until WW2. So figure roughly 10 years from crash to recovery. You would call that a success? I'd call that a lost decade.
Oh and anything you want to lay on Bush FDR did worse. If you spoke German or Japanese, off to the camps you go. Also he stayed in office well past the normal 2 term limit. Not to mention sold us out to the USSR at Yalta. - friday1970, on 07/20/2009, -4/+12Yes, he is thinking about the next elections, but not thinking about actually fixing America in the meantime (unless you think ushering socialism is "fixing" the country).
- DudeInAustin, on 07/21/2009, -3/+11If the goal was to get money into the private economy and stimulate growth, tax cuts does it rapidly. But, that was not the goal. The goal was for the government to SPEND money.
The rude awaking will be when the debt comes due for this borrowed money. Anything gained by "stimulus" today (if there actually is a gain) will be taxed away tomorrow when the bills -- with interest -- are presented for payment. This is a sucker's game. Thanks for playing. - EntangledPhysx, on 07/21/2009, -3/+11Especially with them pushing the heath reform bill before recess. Why in such a rush on something that will have a huge, huge, huge long-term impact on the US?
- eleete, on 07/21/2009, -2/+10Wow Misinformant, great name for an epic misunderstanding of history.
- ChuckDees, on 07/21/2009, -8/+16Jeez dugg down for facts.
I guess perception is reality.
Facts, we don't need no stinking facts.
We have myth. - tgc1, on 07/21/2009, -3/+11Tack on future debt obligations of about 60 trillion and you've got yourself a gigantic cluster ***** of a problem in the making. Keep in mind the USA's GDP is only 14 trillion.
- lickmylovepump, on 07/21/2009, -4/+11You mean you liberals here on digg are jumping off the Obama bandwagon ALREADY?
I thought it would take about 5 years. Your lack of denial disappoints me. - deweyhewson, on 07/21/2009, -1/+8No, I didn't. I was lumping all of the recent financial windfalls into the same principle.
- aurorous, on 07/21/2009, -1/+8I specifically remember Barrack Obama saying something to the effect of: "We have to pass the stimulus NOW! RIGHT NOW! delaying even a single day will cause irreparable damage to the economy."
Gee you'd think that considering it's gonna take a year to take effect we might be able to wait a week and actually read the bill, you know like he PROMISED
But for me i remember him saying it so vividly because it reminded me of another president I believe he had a W in his name he said something to the effect of: "We have to invade Iraq right NOW! any delay and the WMD's are gonna get us!"
When you stoop down to the George W Bush playbook after less than 2 weeks on the job you've abandoned any pretense of "change" and you don't deserve and damned respect. - inactive, on 07/21/2009, -6/+13The economy contracted about as much in 1922, then quickly returned to normal levels. The government mostly ignored it. When it happened in '29 the government did step in and it lasted into the '40s. FDR's programs prolonged the depression.
Plus he had 16 years, the economy was bound to pick up while he was in office, with or without his "help". - inactive, on 07/21/2009, -5/+12uh what we have here is the fireman showed up and used the fire hoses to water his lawn while the house across the street burned to the ground.
- norman619, on 07/21/2009, -8/+14You have political tunnel vision. Fact is there is plenty of blame to go around. Republicans can't suddenly claim to be for fiscal responsibility when for decades they have been just as spend crazy as the democrats. The 2 party system is a sham. It's a form of misdirection designed to get people like you to get into idiotic partisian arguments so you don't notice what is really going on. The "stimulus" package is just the latest addition to decades of fiscal irresponsibility. We didn't magically winde up in this mess. Economists have been warning and tryng to get government to stop the out of control spending and borrowing it has been doing for decades. They were ignored. Watch I.O.U.S.A. then watch Maxed Out. Both illustrate the problem we are in and how we got here. This is hardly just a democrat to republican caused problem. BOTH are responsible for this mess.
- endangered08, on 07/21/2009, -1/+7it was also said that if the bill was passed unemployment would never go above 8%
- aadyss, on 07/21/2009, -0/+6I thought we were not speaking German now because of people like my uncle, killed in 1944 at the age of 24, who is buried at the Sicily-Rome American Cemetery and Memorial with 7,860 other G.I's.
- reed311, on 07/21/2009, -5/+11Buried as inaccurate. 90% of the stimulus money has not even been distributed yet.
- Roguecop, on 07/21/2009, -11/+17Home sales and starts in key areas up. Computer sales up. Auto sales on an incline. Banking profitable(some showing outstanding profits). Gas and energy up. The holiday shopping seasons will be key of course, but the economy is in recovery.
Most of the stimulus package was meant to shore up Americas crumbling infrastructure and it is nothing more than a bandaid to an emerging problems that will cost trillions, not billions. The idea was to create construction jobs while tackling the most severe problem areas.
By the way, people, stop complaining about the tightened loan standards. Credit is a privilege meant for the most responsible. The fact that that reality was lost during the Bush years of careless deregulation is the reason we are all in this mess. - deweyhewson, on 07/21/2009, -0/+6Democracy is two wolves and a sheep voting on what to have for dinner, nedzeve.
Of course, if you knew what you were talking about you would know that we aren't a democracy, we are a republic. And I don't propose changing anything this country was founded on; I propose changing the scumbags who have twisted it into an oligarchy. - KingChewingGum, on 07/21/2009, -1/+7There have been volumes written on how Hoover/FDR's government intervention made the depression worse. See: "The Forgotten Man", Rothbard's "America's Great Depression", any scrap of literature that's not your 6th grade history textbook.
UCLA:
FDR's policies prolonged Depression by 7 years, UCLA economists calculate
http://newsroom.ucla.edu/portal/ucla/FDR-s-Policie ... - zigardne, on 07/21/2009, -5/+110 is enough republicans to move any legislation. I know math is hard, but you're an idiot, even by my standards.
- rebrad, on 07/21/2009, -0/+5Big Democrat contributors are laughing and dancing all the way to their off-shore banks.
- eastwood24, on 07/21/2009, -0/+5Nedzeve,
You are technically correct. I used 'stimulus' in the broader sense to include all government actions used to try to stablize the economy (from cash for clunkers to PPIP and debt monetization). Should have chosen my words more carefully. - WafflesID, on 07/21/2009, -2/+7Facts? We don't need no steeenkin facts.
-
Show 51 - 100 of 202 discussions
© Digg Inc. 2009
— Content created and posted by Digg users is