By obama's own stats only 10% of the stimulus package has been spent

[droski]

"Vice President Joe Biden said the Obama administration "misread how bad the economy was" and didn't foresee unemployment levels nearing double digits"

Brilliant!!! obama has saved so many jobs!


The scary part of this article "White House economists are discussing whether a second round of stimulus is needed."

Calls Grow to Increase Stimulus Spending - WSJ.com

[DC Vol]

Originally Posted by droski

"Vice President Joe Biden said the Obama administration "misread how bad the economy was" and didn't foresee unemployment levels nearing double digits"

Brilliant!!! obama has saved so many jobs!


The scary part of this article "White House economists are discussing whether a second round of stimulus is needed."

Calls Grow to Increase Stimulus Spending - WSJ.com

I guess they'll just keep stimulating until we're in a state of stimulation overload.

[lawgator1]

Well, now, your quote is very misleading and you need to put that line about a second stimulus package into context:



White House economists are discussing whether a second round of stimulus is needed, but a decision isn't expected until at least the fall. "We remain focused on putting thousands of Americans back to work" through implementation of the February stimulus act, an administration official said Sunday. "Any discussion of a second stimulus is premature at this point."

That timetable isn't fast enough for some economists, who say quick action is necessary to avoid a protracted period of joblessness.

"A second stimulus should be the one they should have done the first time, something that is relatively fast and thoughtful," said Phillip Swagel, a professor at Georgetown University's McDonough School of Business. Mr. Swagel, a former Treasury assistant secretary for economic policy under President George W. Bush, said a more-effective package could include more assistance to struggling state and local governments and personal tax cuts.


The article says its being disucssed and that some economists are for it, in the form of tax breaks and some assistance to state governments, and that at least one of the economists touting it is a Bush advisor. So let's not just make it seem like they are going to spend for the sake of spending.

[KB5252]

If only 10% of stimulus funds have been spent to date why are we even considering spending more?

Is this administration set on the idea of spending us into oblivion? This is a serious question that plays directly into the conspiracy theorists ideas of how Obama plans to undermine the country and bring about the new world order or bring socialist government to America (I'm certainly not sold on new world order but the later does seem to be plausible). Am I misguided for believing this might be the ultimate goal? Just about every single example of my mistrust of Obama and his agenda have been proven right up to this point.

Edit: I want to be clear and state that I do not think this to be the most likely reason Obama passed the stimulus. It is much more likely he passed this bill as a real effort to jump start the economy, the plan and execution were flawed and it was never going to have the effect he wished.

[KB5252]

Originally Posted by lawgator1

Well, now, your quote is very misleading and you need to put that line about a second stimulus package into context:



White House economists are discussing whether a second round of stimulus is needed, but a decision isn't expected until at least the fall. "We remain focused on putting thousands of Americans back to work" through implementation of the February stimulus act, an administration official said Sunday. "Any discussion of a second stimulus is premature at this point."

That timetable isn't fast enough for some economists, who say quick action is necessary to avoid a protracted period of joblessness.

"A second stimulus should be the one they should have done the first time, something that is relatively fast and thoughtful," said Phillip Swagel, a professor at Georgetown University's McDonough School of Business. Mr. Swagel, a former Treasury assistant secretary for economic policy under President George W. Bush, said a more-effective package could include more assistance to struggling state and local governments and personal tax cuts.


The article says its being disucssed and that some economists are for it, in the form of tax breaks and some assistance to state governments, and that at least one of the economists touting it is a Bush advisor. So let's not just make it seem like they are going to spend for the sake of spending.

Fall is only a few months away, at the going rate we can expect maybe 20% of stimulus funds to be spent by the fall at most?

[droski]

by the time this stimulus actually gets going we are going to be in a full recovery. $1 trillion down the tubes. thanks obama.

[SavageOrangeJug]

Originally Posted by droski

by the time this stimulus actually gets going we are going to be in a full recovery. $1 trillion down the tubes. thanks obama.

....and Obama will get full credit for a recovery he had nothing to do with.

[volinbham]

Originally Posted by lawgator1

Well, now, your quote is very misleading and you need to put that line about a second stimulus package into context:



White House economists are discussing whether a second round of stimulus is needed, but a decision isn't expected until at least the fall. "We remain focused on putting thousands of Americans back to work" through implementation of the February stimulus act, an administration official said Sunday. "Any discussion of a second stimulus is premature at this point."

That timetable isn't fast enough for some economists, who say quick action is necessary to avoid a protracted period of joblessness.

"A second stimulus should be the one they should have done the first time, something that is relatively fast and thoughtful," said Phillip Swagel, a professor at Georgetown University's McDonough School of Business. Mr. Swagel, a former Treasury assistant secretary for economic policy under President George W. Bush, said a more-effective package could include more assistance to struggling state and local governments and personal tax cuts.


The article says its being disucssed and that some economists are for it, in the form of tax breaks and some assistance to state governments, and that at least one of the economists touting it is a Bush advisor. So let's not just make it seem like they are going to spend for the sake of spending.

What it also implies is that the critics of the original stimulus were correct - it was a poorly crafted stimulus plan.

It was more about funding every pet project than truly giving the economy a short term jolt - what some economists (including the one you quote) are still advocating.

[lawgator1]

Originally Posted by volinbham

What it also implies is that the critics of the original stimulus were correct - it was a poorly crafted stimulus plan.

It was more about funding every pet project than truly giving the economy a short term jolt - what some economists (including the one you quote) are still advocating.

Ok, that's fine and a legitimate criticism, i.e. that the initial stimulus plan was too much pork, too little substantce. I agree with that. Have said many times I wish Obama had hung out to dry any Democrat who forced into the bill some pork project for their district.

All I am saying is that let's not just go crazy by even the thought of a second stimulus package without some details, which is how I read the initial post.

[hndog609]

Also, wasn't this some kind of screaming 12 alarm fire emergency thing to get passed since we had to get that money into the system, like, right NOW? If that was the case then WTH are we only 10% into doing what was so flaming urgent?

[droski]

Originally Posted by lawgator1

Have said many times I wish Obama had hung out to dry any Democrat who forced into the bill some pork project for their district.

do you really think obama was against the pork?

what has he done since that would lead you to this conclusion? obviously his attitude is he is going to use this crisis to get every BS pet project/bill he has ever wanted to get passed/funded.

[volinbham]

Originally Posted by lawgator1

All I am saying is that let's not just go crazy by even the thought of a second stimulus package without some details, which is how I read the initial post.

What indication do you have that this administration could:

1. accurately determine if another stimulus is needed?
2. structure an appropriate and effective stimulus package if one is needed?

We know their economic projections are off.

We know they screwed up the first stimulus package.

We know they are pushing through programs with high costs that will not help the economy in the short run.

I think it's perfectly appropriate to be concerned when they start talking about another program.

[lawgator1]

Originally Posted by droski

do you really think obama was against the pork?

what has he done since that would lead you to this conclusion? obviously his attitude is he is going to use this crisis to get every BS pet project/bill he has ever wanted to get passed/funded.

I don't think they were his ideas, they were the standard things congresspeople insist on to take back to their individual districts. He should have outed them for it, but didn't, and that was dissapointing though not really all that surprising since it seems habitual for any new president.

[OrangeEmpire]

Insanity all around, this gives the bastard, I mean Obama an excuse to print out trillions of worthless paper dollars!

[lawgator1]

Originally Posted by volinbham

What indication do you have that this administration could:

1. accurately determine if another stimulus is needed?

Not sure they've decided that. But former Bush adviser says so.

2. structure an appropriate and effective stimulus package if one is needed?

Again, I don't agree with the assumption. They've not decided to do anything, yet. But if so, and with even conservatives promoting something to promote job growth, I think that would be the focus.


We know their economic projections are off.

Not by a ton. And everyone's were off. This is fairly new territory.

We know they screwed up the first stimulus package.

I think its a bit early for that judgment, though as I say I agree that it had way too much pork in it.

We know they are pushing through programs with high costs that will not help the economy in the short run.

Depends on how you define "short run" and whether its a bad thing if it only helps make the recession shorter or less deep at the back end.

I think it's perfectly appropriate to be concerned when they start talking about another program.

I agree, but let's be concerned for the right reasons, which would be whether its needed and whether its focused on the right areas. The first part is not established and it seems like initial discussions are targeted on things conservatives might support, such as small business tax breaks to encourage employment.

See above.