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CBO: Majority of Stimulus Money Would Enter Economy by End of 2010

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Those who blame the current crisis on Wall Street greed are also likely to blame gravity for a plane crash. The real culprit is the US government. Without the following actions, THIS CRISIS NEVER HAPPENS! 1) Repeal of the Glass-Steagall Act, 2) SEC authorization to lift the leverage limit on five investment banks from 10% to 40% (only two have survived), 3) the Fed's failure to enforce its obligations under HOEPA, 4) SEC's failure to regulate credit default swaps and 5) Federal agencies' actions which blocked state regulation of predatory lending practices by the mortgage industry.
Now these same bumblers (check Congress and Obama's advisers and agency heads for familiar faces) are going to save us from the mess they've made...NOT! It's gonna get much worse before it gets better AND last much longer. And, worse yet, the "recovery" will be saddled with a HUGE increase in the Federal deficit, a weakened dollar and rampant inflation. Won't THAT be fun?
A major enemy in the government recession-battling efforts is the over-wrought compassion they express (and act on) for those poor faultless souls who lied about their incomes to qualify for mortgages they couldn't afford, pulled too much out of their houses' equity to buy BMWs, vacation homes and i-Phones, got into the house flipping business to make a quick fortune, got over-extended on easy credit card debt, etc. I feel not a whit of compassion for those who brought their problems on themselves. The true victims here are all those who will be hurt by the government's efforts to bail out the guilty. While all the focus has been on the bankers, the next wave of support dollars is going to the individuals whose irresponsibility and self-indulgence brought about their current dilemma. In an effort to bail these folks out, we're delaying the very adjustments in the economy that could facilitate a timely recovery.
So sad...

Montalvo of CA 2:24PM January 31, 2009

The Economic Downturn:
My fellow Humanbeings it's only temporary. Don't be scared. Scared is what the evil doers want you to be. This severe economic downturn was not unforeseen. Many of us tried to warn everyone that we could years ago. And we did our humble best to head it off, and limit it's destruction. But their were some very powerful, and Evil forces at play that limited our ability to completely stop this economic downturn before it happened.
Fear not my fellow humanbeings. Your future, and the future of the World is very BRIGHT! now. :-)
The World has continued to be blest with excellent leaders who have brilliantly handled the dangers, and complexity's of our geopolitical challenges. And with the help of the world, America has now elected a new President (President Barack Obama), and a government who stands ready to lock arms with the rest of the World's leadership in solidarity towards a better World for all.
President Obama's choice of Cabinet, and advisers has been nothing short of brilliant. And his performance has been excellent. I believe President Obama stands ready to do whatever he has to do to see the American people, and the World through this crisis.
So spend, but spend wisely. Trade with each other, but trade wisely. Live, work and enjoy the majesty, and miracle of your existence in the community of humankind. This is a great time to be alive. :-)
It is not an accident that humanity exist on a small blue planet tucked in the safest corner of the universe. A planet with a constant source of warmth and energy from the sun. A planet surrounded buy a forcefield we call an atmosphere. And an atmosphere that keeps in the things we need to survive, and keeps out most of the things that could harm us. :-)
It is not an accident that the mass and orbits of the planets, moons, asteroids, and other heavenly body's are perfectly aligned to harmlessly deflect the larger objects that could hurt us away by gravity. Deflecting danger into outer space. Or into the sun.
The sun still shines on us. And our future is GOOD! This economic downturn is just a little darkness before the dawn.
Things are going to be GREAT! That is what you have chosen. The new Renaissance has begun.
God bless all of us
Jacksmith --- Working Class :-)

jacksmith of TX 6:15PM January 27, 2009

to get the funds in market and another 1-5 years to get all the projects approved, environmental studies done, and bids for the jobs closed.
So this "stimulus" will help the economy in 2011 to 2014.
Hope I still have a job by then and we all know that I can't rely on my "investments"
Bottom-line
increased job loss
lower tax dollars for these projects
increased deficit
higher taxes
America - What a country....

Larry of CA 2:19PM January 27, 2009