Obama Adamant Economic Stimulus Package Signed By President's Day

Why can't we get countries to payback the gazillions that we have given them?

Why is it that we take care of people who hate us and not our OWN American CITIZENS - our own country?

These are things that the government did without our approval - we only get a choice of elected officials but never get to voice our opinion and they make dumba$$ decisions!

$15 BILLION dollars to bail out the banks - you could give each American CITIZEN a couple of million so that we could afford to make purchases to keep things afloat!

Rebuild devastated areas from floods, hurricanes and tornados. Money for NATURAL disasters, not man made ones.

No one is saving American CITIZENS and we are not being asked via a vote as to what we would like or not like to be done, so money is being given away like Monopoly money.

I am not joyous over this announcement. I am more concerned than before. I thought he was enough of a thinker and practical person to see the end from the beginning. But bit by bit it's looking more like political expediency is his M.O.

If you want to help the auto industry,
instead giving them money, give the money back back to the people in the form of a income tax deduction.
I think if you give a 10,000 dollar
tax deduction for buying an American
made car or truck in febuary,and a 9,000
dollar tax deduction in March,and so forth untill it runs out.
I think by selling cars is the best way
to help the auto industry,and it might
stimulate the economy a little.

Congress should tell 'Bama: "You're not the boss o' me; you'll get the bill whenever we're damn good and ready."

Every one get 1,000 dollars.... BIG DEAL.... It wont save one financially troubled family!!!!

Here’s the deal. The Imperial Federal Government of the United States collects about $167 billion a month in income and withholding taxes. The Congress has already passed a $700 billion stimulus bill, and about a half of that is gone, leaving $350 billion of your money in the pot. Some have suggested that this $350 billion be left as some sort of a bailout/stimulus slush fund for the incoming Obama Administration. In other words … let the politicians figure out how to spend it. Gohmert thinks it might be a better idea to allow the people who actually earned this $350 billion to spend it as they see fit. OK, if you have any appreciation at all for the concept of economic freedom that sounds like a good idea; but how do you make it work in this instance.

The Perfect Stimulus Package-The government simply absorbs the remaining $350 billion from the stimulus bill and suspends the collection of all income and payroll taxes for two months. Even trade. This means that for two months you get your entire paycheck (well … less any State withholding). The government ends up with the same amount of money in its coffers, and the income earners in this country have some extra money to spend – an average about $2,000 per taxpayer – over the following two months. This plan puts the economic stimulus money right into the hands of the people who actually earned it in the first place. Can you imagine that? by: Neal Boortz Let's start writing our congressman and senators now! Could something like this actually make its way through our Congress? Sure it could … if the voters demanded it. But hey …let’s get serious.

Obama's tax credit of $5oo for singles and $1000 for couples is an insult to the American people.Congress just voted themselves a $5000.00 a year RAISE. The people should at least get the same amount.After all, the taxpayers pay the bills.

RM Barley, your idea sounds perfect! Is there a website to email our congressmen to do this? No taxes during February & March would be SWEET! This other thing, $80 a month tax cut, that's not gonna help he economy AT ALL! That's just chump change.

The bill should be on his desk whenever the bill is ready. Not on President's day. Just because it might make him look presidential. This is NOT about Obama it is about the people.

IDEA FOR THE ECONOMIC SOLUTION
New idea to create demand in residential real estate and solve the economic crises

1) Have a monthly lottery, where any home bought gets that buyer’s name entered.
2) On the 20Th of the following month on national television draw names per state based on the number of U.S. representatives that state has. The first name drawn in each state gets their purchase price paid back and 1 million dollars. The other names drawn will each get 100k
3) This should be retroactive to the first day that it is announced nationally so that those intending to buy property do not hold off until it begins.
4) Some TARP funds could be used for this and it can begin tomorrow.
5) This would mean that there would be 435 winners per month. Times 12 months equals 5220 winners per year. If 7 million homes are sold a year this gives you a 1/1340 chance of winning. This will help motivate people to buy houses, prices will stabilize and the economy will recover.
6) This is cheaper and wiser then throwing $ at the banks and it has a better chance of achieving results. Giving Banks money does not encourage them to lend. How can anyone blame them? Who would lend someone money against an asset that is falling in value? WE MUST STABILIZE HOME PRICES OR THIS ECONOMY WILL NOT RECOVER.
7) Putting the drawing on TV will give this idea incredible exposure. Companies will eagerly want to sponsor it and also throw in free prizes such as free cars, cruises, airline tickets, vacation packages etc. They have just as much to gain as consumers. This can actually become a national phenomenon and be a great deal of fun for the country.
Try to get Hollywood and Sports athletes involved in some fashion.
8) Also, there should be a zero % capital gains tax on any property purchased during the next year no matter when you sell it. This should only be on new purchases to help absorb some of the high housing inventory. Investors will snap up some properties and make things happen. This is a win win situation because no homes are selling anyway so there is no capital gains tax lost.

9) The situation is not really as complicated as people like Henry Paulson try to make it sound. In fact it is not Harvard economics it is simple 5th grade economics of supply and demand. We could eliminate supply by tearing down the excess inventory or we can stimulate demand with the ideas above, some variation of them or entirely new ones. Or we can wait until it happens on its own causing mass unemployment and foreclosures in the process.

ACTUAL COST OF PRIZE MONEY =1.062 BILLION (may be less with corporate sponsors)
ACTUAL POTENTIAL BENEFIT TO THE U.S. ……..PRICELESS.

We have nothing to lose. The money invested will stay in the economy and we are sure to gain back at least what was invested.

We need to get people involved, Television, Hollywood, Sports athletes. World War II was won by getting people involved, volunteerism, purchasing of war bonds etc. That is why we won.

Obama won the presidency by getting people involved. He is the person that can make this happen. He can make progress in 30 days if he announces this plan. Please pass this on to President Elect Obama.

Obama's tax credit of $5oo for singles and $1000 for couples is an insult to the American people.Congress just voted themselves a $5000.00 a year RAISE. The people should at least get the same amount.After all, the taxpayers pay the bills.

Obama's tax credit of $5oo for singles and $1000 for couples is an insult to the American people.Congress just voted themselves a $5000.00 a year RAISE. The people should at least get the same amount.After all, the taxpayers pay the bills.

Obama said today that he see's trillion dollar or more deficits for several years (read until he is out of office). If he does not understand that the economic problems we have today are caused by our government spending more than they collect then he is simply not the man for the job. We have spent 7 trillion dollars in the last year via the fed printing money and it has had no effect. Obama spending us into oblivion will continue this failure. We have run up a 12 trillion dollar debt trying to live beyond our means and we have nothing to show for it. We spend nearly 350 billion dollars just to service that debt. When we add another trillion dollars to that debt we will pay another 30-50 billion dollars every year in interest. This is insanity.

Obama appears to have no other solution than to throw money at a problem that was caused by our government throwing around money that they didn't not have in the first place. I really though Obama was smarter than that. If he does not get some economic advice soon we will be headed for a long term depression instead of a recession.

Matthew, WWII was not won because of the things you listed (although they helped). The reason we won is because the American people then believed in America and wanted to fit tyranny and depotism at all costs. Not just when it is convenient.

To Chris Cuomo,

I was VERY pleased with you interview of Barney Frank today -- he needed to feel uncomfortable since need to address our problems in a more bottom-up manner.

We are wasting our TARP voter approved money so far -- $350B for nothing that has made any difference except for the top tier of executives/corporations who received the money.

With Obama planned $775B plan do we really expect a difference to be made? Maybe but what we need is bottom up solutions (not all being costly public work projects). We need the people's issues to be resolved - not executive/corporate issues to be resolved.

Here is a proposal that will address our broad economic issues from the bottom up - for all homeowners that refinanced their homes in the last 4 year (at the height of the residential pricing) then revalue their mortgages to what their current home valuation is -- and use TARP and new Obama stimulus funds to pay off that mortgage difference.

Adopting some form of this bottom up proposal as described here will stimulate the broad populace to spend their money on all other consumer items.

Bottom up in the hands of the people vs top down in the hands of the few corporations is much more beneficial to the USA at this point.

I hope you think about what is proposed here since it has already been shown that throwing away money at the corporations and financial institutions has done nothing except put our country in further debt.

Regards,
Jerry Johnson

George,

I was VERY pleased with Chris Cuomo interview of Barney Frank today -- Barney needed to feel uncomfortable since need to address our problems in a more bottom-up manner.

We are wasting our TARP voter approved money so far -- $350B for nothing that has made any difference except for the top tier of executives/corporations who received the money.

With Obama planned $775B plan do we really expect a difference to be made? Maybe but what we need is bottom up solutions (not all being costly public work projects). We need the people's issues to be resolved - not executive/corporate issues to be resolved.

Here is a proposal that will address our broad economic issues from the bottom up - for all homeowners that refinanced their homes in the last 4 year (at the height of the residential pricing) then revalue their mortgages to what their current home valuation is -- and use TARP and new Obama stimulus funds to pay off that mortgage difference.

Adopting some form of this bottom up proposal as described here will stimulate the broad populace to spend their money on all other consumer items.

Bottom up in the hands of the people vs top down in the hands of the few corporations is much more beneficial to the USA at this point.

I hope you think about what is proposed here since it has already been shown that throwing away money at the corporations and financial institutions has done nothing except put our country in further debt.

Regards,
Jerry Johnson

Rushing this bill through so fast with limited hearings and no understanding from the American people will be the biggest PORK BILL in the history of our county. Let the PE wait until the job is done right and not to just because of a campagin promise. He has already broken many.

What a surprise! President Obama wants to get to work, while some in congress wants to play games and sit on their hands,I guess some old habits never die.

Here we go again. Speed more important than accuracy. What ever happened the the $700,000,000,000.00 that was meant to stimulate the economy? Oh that's right, it went into the pockets of the banks that support our politicians. No accountability then, no accountability now.
Wake up people it's time for an overthrow!

Get rid of the IRS.
Stop bailing out banks that think helping US (American Citizens) is too risky so they can spend their bailout money (MY TAX MONEY!!!) on investing in gold, oil and other commodities.

Stop chipping away our rights in the name of the War on Terror.

STAY AWAY FROM THE SOCIALIST MINDSET AMERICA!!! WE ARE FREE MEN AND WOMEN FOR NOW, BUT IN THE NEAR FUTURE, BE WARNED, THE NORTH AMERICAN UNION IS COMING! IT WILL BE FED TO EVERYONE AS A FIX-ALL! THE UNITED NATIONS IS NOT WHO WE ELECTED, BUT THE UN IS BEING PREPPED TO BE THE SEAT OF POWER FOR THE ELITE 'ELECTED', AND WHEN THAT HAPPENS, WE WONT BE AMERICANS ANYMORE WE WILL BE CITIZENS OF THE NORTH AMERICAN UNION, USING THE AMERO AS CURRENCY, AND THE AMERICAN DOLLAR WILL BE LAID TO REST AS OBSOLETE CURRENCY.

WAKE UP AMERICA BEFORE IT IS TOO LATE!!!
LISTEN TO THE POWER HOUR AND ALEX JONES AND JACK BLOOD WHILE WE STILL HAVE FREE INTERNET AND FREE SPEECH!!!!

Maybe I am off base here but it seems to me that $1000 won't stimulate the economy anymore than Bush's stimulas package. That is not even enough money for most American's to make a mortgage payment let alone have any left over to stimulate the economy with.

I don't understand why we are sinking billions of dollars into a few banks that are obviously not making an impact on the state of our economy. They should have taken the amount of the bailout and divided it equally among all working Americans and by now we would already be on our way out of the recession. If each working America got a $100,000 bailout could you imagine where the economy would be right now? Consider this:

$100,000 is a large enough amount of money that American's would feel secure enough to spend some of it, thus stimulating the economy.

$100,000 is also enough to feel okay about making a big purchase, thus stimulating the auto and housing markets.

$100,000 is enough to help America citizens dig their way out of their bad mortgages, overdue credit card bills, and educational loans.

Also, if each American had at least a $100,000 padding, credit markets would loosen up again because there would be a greater confidence from lenders that borrowers would have the means to follow through on their obligations.

Am I missing something? How did the goverment ever think that sinking money into a few businesses that are spending it on conferences and year end bonuses while the recession is gaining momentum, would have a more effective result than giving to Americans and asking them to invest in their country????

I want to read the bill. How much PORK is going to be in this one? Idiot Obama said he wants NO PORK, but just watch! How transparent is his administration going to be if we don't get to see the bill before it's "introduced" to Congress on Monday?

This bill will only allow the government to "buy into" something it should stay out of, Private Industry! Socialism is on it's way!

Thomas Dockery: Can you even define "pork," or is your rant meaningless to even you? I noticed Obama actually used terms that mean something and defined them in the same sentence, but I suppose you prefer meaningless bumbersticker slogans to actual substantive discussion.

What about the people: "They should have taken the amount of the bailout and divided it equally among all working Americans and by now we would already be on our way out of the recession. If each working America got a $100,000 bailout"

The banks are on the hook to pay back the money they received, and while the goverment is likely to only see $.60-$.70 on the dollar back, that is far more than giving seven million people (about NY city's working population) $100,000 each.

Your math is wrong, your understanding of the bailout cost is wrong (it will ultimately be far less than $700 b), and that is likely why the professionals in government did not pursue such a poor idea.