Wonder of wonders…..the AP actually notices this stimulus will affect us via our pocketbooks for years to come: (h/t JammieWearingFool)
One thing about the president’s $790 billion stimulus package is certain: It will jack up the federal debt.
Whether or not it succeeds in producing jobs and taming the recession, tomorrow’s taxpayers will end up footing the bill.
Forecasters expect the 2009 deficit — for the budget year that began last Oct 1 — to hit $1.6 trillion including new stimulus and bank-bailout spending. That’s about three times last year’s shortfall.
The torrents of red ink are being fed by rising federal spending and falling tax revenues from hard-hit businesses and individuals.
The national debt — the sum of all annual budget deficits — stands at $10.7 trillion. Or about $36,000 for every man, woman and child in the U.S.
Interest payments alone on the national debt will near $500 billion this year. It’s already the fourth-largest federal expenditure, after Medicare-Medicaid, Social Security and defense.
This will affect us all directly for years, as well as our children and possibly grandchildren, .in higher taxes and probably reduced government services. It will also force continued government borrowing, increasingly from China, Japan, Britain, Saudi Arabia and other foreign creditors.
~~~Infrastructure:
Highways repaved for the first time in decades. Century-old waterlines dug up and replaced with new pipes. Aging bridges, stressed under the weight of today’s SUVs, reinforced with fresh steel and concrete.
But the $90 billion is a mere down payment on what’s needed to repair and improve the country’s physical backbone. And not all economists agree it’s an effective way to add jobs in the long term, or stimulate the economy.
You know its bad when the AP even piles on to this Generational Theft Act noting how it will raise our taxes and leave us in debt.
See author page
Borrow a Billion dollars that you can’t even pay the interest on so it’s tacked on year after year. In 10 years you have borrowed several trillions of dollars, not one trillion. Democrats have adopted BHO’s 57 state math. The only hope is for China to tell BHO to stick it, you can’t pay the interest on what you owe now.
We don’t need to “repair our infrastructure” because actually many cities are losing population to the suburbs and exurbs.
We do need to build highways there that were never built because Liberal growth management acts and overemphasis on unworkable “mass transit” never allocated the normal share of funds from the beginning.
All told though that would be small fraction of what the Stealulus Bill proposes…and that doesn’t even begin to answer what the other 700 Billion was for !?
i have watched several news people talk about the stimulus on the news, and they get the slightest disgusted look on their faces. i know theya ren’t supposed to show opinion, but they are usually fawning over obama and you can tell they are hating this. we are all hating this, i am glad that the ap is finally noticing that something stinks in denmark. you know how bad it is when the msm are questioning this bill, maybe they have half a brain in them.
A man named Peter Schiff, who predicted the housing collapse on fox news one day and i hit the mute button because i thought he was an idiot, said spend bill will be a disaster and will lead to hyper inflation.
Off subject i found a new bill not mentioned yet that i have seen. Bill HR 45-gun ban and required registration of all guns even antique collections. With our traiter RHINOs , this is going to be a battle.
A great quote i read tonight..
“Government is not reason.
It is not eloquence.
It is a force, like fire: a dangerous servant and a terrible master.”
George Washington
“people shall retain their arms as a last resort, to protect themselves against the tyranny of goverment.” Thomas Jefferson
Read this bill , 10 year sentences, gov. wants right to seach homes and confiscate guns. Am i just paranoid or is this a problem-Join the NRA i guess and hope we get the congress back next year. Again, bill HR45
It sure would have been nice if they had noticed this, and spoken up, oh, say THREE WEEKS AGO!
Would that have been too much to ask?
Dems just spent $800bn of my kids’ money so that they can look like they’re doing something for a few weeks. Ok, it’s passed, and bad news will continue for the next year or two according to Dems. What’s the mass media narrative going to be? Charlie Gibson reads 3 bad economic reports, then turns to politics and spins joy that Obama has saved us? Nah, that doesn’t work. They’re gonna read the bad news, then ask, “Why didn’t the stimulus work?” Dems will say it takes time, but they also told us it had to be rushed because there IS NO TIME. So, they’ll try and market more bailouts for bankers and the wealthy. It just doesn’t mesh w reality, and they’ve pyt so much capital into this bill that now they OWN the bad economy. Gonna be a drip drip drip of declining poll numbers..
By: Marion Valentine
at 12:43 pm
Educating a Dependent Child
Some of us have another dependent.
Last November 53% of Americans were so mentally immature they voted for a NANNY Government to take care of them
and supply their every need from the cradle to the grave. The 46% of us who do not need a NANNY, who took advantage of
the opportunities there for every person who is willing to make the effort, has just been given guardianship over the 53% who voted for
a Nanny. Those of us who made the effort to study in school,Worked hard and advanced on our jobs, and gained enough wealth to
take care of ourselves and our families and still have enough to give others a helping hand, we, without choice or recourse will have
our hard EARNED money stolen from us to care for the 53% of mentally immature Americans.
We must condition our new foster children that the best schools, the best teachers, the best equipment cannot teach them anything,
but CAN give them the opportunity to learn, and that opportunity is offered in ALL American
schools
We must some how dispel the belief they have that someone or something else is responsible for their condition,
We must dispel their belief that they are victims, therefore are OWED something someone else has EARNED
When our foster child takes responsibility for his/her actions, is able to sustain him/herself, and defend him/herself.
We can say that we were good foster parents.
It’s For the Children…and they will absolutely Hate Us for saddling them with it!
@Scott Malensek:
Maybe to you and me and the rest of the logical thinking world, B.O. and the Democrats own it. But that’s not how things work in the land of rainbows and unicorns, Scott. The mass media, the Left, the Democrat Party and President B.O. will blame this on President Bush and the GOP for the next 8 years. And the gullible sheep of the American public will go along with that explanation, just as they did for the past 8 years of lies and the past 2 years of Obama’s lies and and smears on the campaign trail.
Their polling numbers will be fine. Whenever they are low, the mass media will put out some propaganda to smear the GOP and Rush and conservatives and some positive propaganda to prop up the Democrats and B.O. as they have been doing for the past 8 years. Then B.O. will give a speech to infect his willing ignorant masses of cult worshipers and all will be right with B.O.’s America again.
We’ll have 8 years of this B.S. Count on it.
Yes, I have lost all faith in the American people. Watching the rise of the hateful/vitriolic Left to power in the House and the Senate and then seeing the cult worship of B.O. proved to me that the American public has lost is collective freaking mind.