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4.1

The current stimulus pkg, and future stimulus pkgs work?

Asked by wlennon in Politics

Tags: stimulus

Three Republican Senators crossed over to pass the new stimulus package of $787 Billion, that was after Republicans forced $110 Billion of earmarks and pork from the bill. With what was left over from the first $700 Billion ($350 Billion) leaves the new Administration with a total package of $1.137 Trillion...so far.

On the $700 Billion Bush got with the support of Democrats, he wanted very strict oversight, but did not get it from Financial Services Committee Chairman Barney Frank as he had promised. therefore we ended up with wasteful spending and bonuses of $50 to $500 Million, while Freddie Mae, Freddie Mac, Countrywide, and a few others continued to dole out sub-prime mortgages. As for the Auto Industry , Ford declined any of the money, but GM and Chrysler did, with GM getting the Lions Share. Yesterday, February 14th the UAW threatens to take GM on Strike while GM still has $9 Billion left from the $11.4 Billion they took, and the Unions want some of that money for themselves and the workers not to be laid off.

With Obama promising 3.5 million jobs out of this stimulus money will come from Government projects, mostly on infrastructure in many States, of which they already receive monies for those projects, so in essence we are robbing Peter to pay Paul.

What are your thoughts about this stimulus package, and will it help the economy and people of this country, or send us into a depression?
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Tags: stimulus
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