Schumer said. "I think we need a large one."

I'd say you need a large one up yer a$$, Chuckie....

Give me 700 billion and I'll solve all your problems. Promise.

I'm afraid things will have to get bad, before they CAN get better.

The problem is we're solving the problem with, yet, more debt.

That's the problem.

Our economy has grown thanks to debt. Debt is spending money not yet earned. We've been spending "tomorrow's money". The problem is for the last few decades, tomorrow comes and the money isn't there because of rising prices, and the fact we're paying for "yesterday's money".

The ends have caught up with the middle.

We've been led astray by our leaders who have only cared about lining their pockets.

I don't see how more debt is going to do anything except postpone the evitable.

Obama's 2.5 million jobs program shows he's deeply engaged and fast out of the starting block. But systemic intellectual double speak, falling wages and excess debt are obstacles to any real sustainable solution. Falling prices are not, but that is the only issue Paulson has focused on. He wanted to keep his buddies balance sheets solvent, over your dead body.

LOL!

Lazy do nothin dems are going to be sitting on their collective asses making up whining excuses on why they can't seemed to get any thing done because they don't have the great SUPER MAJORITY.

I updated this link to a story with more details. Good lord we're talking about spending a lot of money in Washington these days.

Dems...lame...reacting to financial crisis.

Thanks Barney Frank! Both you and BO do not have the qualifications to be in my govt.

BO IS AN EMPTY SUIT!!!

Watch the price of everything go sky high with the BO Corporate Tax Increase.

Debt is spending money not yet earned.

LOL!

Debt is spent money and not paid back.

Does this mean we'll be getting another $1200 from the US Treasury direct deposited into our checking accounts like last Spring?

Watch the price of everything go sky high with the BO Corporate Tax Increase.

#7 | Posted by aclusux at 2008-11-24 08:46 AM | Reply | Flag

To stupid!

People are not buying anything now yet this idiot things they will buy things with higher sky high prices.

Is your logic rational mentality challanged?

A simple way to understand Paulson's plan is to notice that those who committed fraud against our foriegn lenders are being bailed out, in order to forestall lawsuits which become public information. Revelation of these crimes would undermine the legitimacy of our Government and its Capitalist Free Trade Theories. A two party cover-up is essential for maintaining these illusions.

These illusions fullfll a critical political need for continuing on a path of wealth concentration. We have a forty year debate over health care reform, when everyone in the world pays less than we do for those same services. But an emergency bailout of the super wealthy is passed in about one week with virtually no debate.

There is hope that reality and illusions are on a collision course that Congress has actually begun to notice.

Debt is spending money not yet earned.
#3 | Posted by BillJohnson

LOL! Debt is spent money and not paid back.
#8 | Posted by moneywar

I think that's two ways of looking at the same thing that don't really disagree with one another.

Talk about a smooth transition. Another stimulus package, no repeal of Bush's tax cuts etc.

#14 | Posted by gitmboy at 2008-11-24 09:39 AM | Reply | Flag: Expect a knock on your door any moment

GitmBoy,

"Another stimulus package, no repeal of Bush's tax cuts etc."

I think they will just wait for the Bush tax cuts to expire, I believe that is pretty much what he has said all along.

whats a 20?

Do the taxpayers get any equity ownership in these institutions for our money spent?

Or is this just Free Money for the Rich, who screwed up?

I think they will just wait for the Bush tax cuts to expire, I believe that is pretty much what he has said all along.

#17 | Posted by danni

You're kidding, right?

Hay, some more of danni's trickle up econ. I am going to wally world to buy some cheep chink junk. That will realy help US.

Thats okay sanantoniorogue, I'll be the only non-corrupt, non-murderer at that meeting.
CIA and Secret Service are illegal entities under the constitution.
So is dhs.
Anyone whom attempts to exercise that authority is guilty of treason.

Since the day the constitution was signed.

Maybe they should read the document.

We have a forty year debate over health care reform, when everyone in the world pays less than we do for those same services. But an emergency bailout of the super wealthy is passed in about one week with virtually no debate.

Excellent point. It is a great illustration as to who our elected leaders are beholden to.

Both parties.

"I think they will just wait for the Bush tax cuts to expire, I believe that is pretty much what he has said all along."

#17 | Posted by danni

Ried and Pelosi have said they will let the Bush tax cuts expire.

Obama said he would let it expire but only for those making over $250K/year.

SO which is it?

"Obama said he would let it expire but only for those making over $250K/year."

NO he said he wants a new tax cut for those making less than $250,000. NO need to wait for the Bush tax cut to expire for that and the rich will retain their tax cut until 2011.

I don't think anybody knows what obama's latest tax policy is. He has been all over the board. Most people have picked the one they like best and think that is it.

Oh yea, an additional $700,000,000.00 stimulus package to float around on Day One. Who will be the recipients of this meager sum? $7.4 trillion already promised. At this rate the U.S. will be completely broke by the end of '09. Notice they have stopped talking about single billions any more. There was a time not too long ago a cool 100 million would actually buy something.

"Most people have picked the one they like best and think that is it."

ER...I believe it still is if you earn over $250,000 your taxes will rise when the Bush tax cut expires, if you earn less they are planning on giving you a new tax cut right after he takes office. Pretty much exactly what he has said since day one.

Like I said, we dan, we believe what we want to and not what he said last.

"NO he said he wants a new tax cut for those making less than $250,000. NO need to wait for the Bush tax cut to expire for that and the rich will retain their tax cut until 2011."

#25 | Posted by danni

The point here is that what Osama and the democratic controlled congress have said are very different. So which is it? Who knows?

Are Ried and Pilosi going to have any respect for what Obama has said? Doubt it!

When all this inflation comes home to roost, say about February 1st, we are going to get raped like nobody's business. Democrats haven't the foggiest fucking clue on how to fix this problem (as if they were interested).

It's going to be fun to watch the left eat their own, fer sure...

Better to take the time to develop a plan now, than to throw more money at it without a solution. The economy is going to have a downturn no matter what happens, not point in making the problem worse. We tried that with Paulson, and he changed his mind after the fact and allocated money to other things that what was in the original plan.

Better to take the time to develop a plan now, than to throw more money at it without a solution.
#33 | Posted by deadarmadillo

"Crazy Talk!!"
- All the politicians who support the bailout.

update,obama advisor said the stimulus package could be as high as 1.25 trillion dollars.why not just give everybody a million dollars?

Can anyone explain why congress can't do something right NOW?

not to worry 2 million green jobs on the way,90% will be government regulators.

Congress did do something - it approved 700 billion so that Hank Paulson could take care of his buddies in the financial industry. Certain segments of the economy are screaming that they need help NOW, its DOOMSDAY, the END IS NEAR.

Whatever gets passed, Obama and Congress will have to live with it. Better that they develop a plan that they can support, than pass a half assed one now and be stuck with it later.

Washington Post just reported that the proposed bailout plan may total in excess of the 700 Billion that Bush gave away to the Banks...combined with Barry stating on his press conference that his new Economic Team will analyze the Bush Tax cuts in 2011 before they expire, this is truly "Change" you can believe in?

Now that reality is setting in for Obama, he is going to realize that he is on a fast moving train that is awfully hard to stop, much less change course.

Better that they develop a plan that they can support, than pass a half assed one now and be stuck with it later.

Please enlighten me on what the plan is by bringing in Hank Paulsen Jr.?

Bukkake,

Could it be the only solution to this economic disaster will be a nice, big, expensive, global war?

I mean...most everyone agrees that WWII is what got us out of the Great Depression.

and HERE we go again

just like social security and other government programs

I bet you REAL low odds that if mccain had won, the dems in power would be SCREAMING thier heads off about even THINKING of spending another 700 billion on anything.........

and let me ask once again

where does it stop

george will on sunday morning stated the fact that we are about to embark on a NEW new deal and its important to note that the first new deal

DIDNT WORK
and then he said something about manufactoring meltdown of 1937 which I dont know much about
anyone here know that part of our history???

Obama, Pelosi, Reid: the axis of liberals --- they will save the economy.