"Mr Summers told the president that it would be hard to spend more than $300bn on government investment and anything above that would have to come from transfers to the states and tax cuts. He also said that a giant stimulus of more than $1,000bn aimed at rapidly reducing the unemployment rate "would likely not accomplish the goal because of the impact it would have on markets".

He also said that a giant stimulus of more than $1,000bn aimed at rapidly reducing the unemployment rate "would likely not accomplish the goal because of the impact it would have on markets".

No Shit Sherlock.
So let's go with a smaller giant stimulus that would likely not accomplish the goal because of the impact it would have on markets.

Hope and Change.

Once again validates what a lot of us have been saying right along. All these stimulus packages and other money schemes do is drive us deeper into debt and kick the can down the road where we'll eventually pay even more dearly.

Why aren't the Obama supporters coming to this link in droves.

I expected them to at least show up and say "nah uh".

Perhaps y'all ought to go find a web site about the stimulus package and find out how much of it was done just like Summers said: aid to states, tax cuts, etc. This article is for those who stupidly think all 867 B was spent, it wasn't, most of it was returned to taxpayers and states.

Perhaps y'all ought to go find a web site about the stimulus package and find out how much of it was done just like Summers said: aid to states, tax cuts, etc. This article is for those who stupidly think all 867 B was spent, it wasn't, most of it was returned to taxpayers and states.

en.wikipedia.org

#5 | Posted by danni

"Now don't go stickin' that there realitified stuff into a righties rant, there girl. Everybody who watches God's Own Channel, Saint Rupert's FOXNEWS knows all that money went to George Soros to build interment camps in the desert to hold right thinkin' baby Jesus worshippin' patriots! Why jest Yesterday, they done broke into Rand Paul's house, dragged him to the airport and interred him. I knwow he ain't been frred, cause I prayed to him and his daddy and only his daddy replied, and asked for more money."

Expelidocious.

"Mr Summers told the president that it would be hard to spend more than $300bn on government investment and anything above that would have to come from transfers to the states and tax cuts. He also said that a giant stimulus of more than $1,000bn aimed at rapidly reducing the unemployment rate "would likely not accomplish the goal because of the impact it would have on markets".

And can one of you righties point out where the Stimulus package differs? Or do you once again smell some dark conspiracy here? Is 867 really more than a 1000? Is 6 really 9? Is 2+2 still on your mind?

Once again validates what a lot of us have been saying right along. All these stimulus packages and other money schemes do is drive us deeper into debt and kick the can down the road where we'll eventually pay even more dearly.

#3 | POSTED BY MATSOP

You've also been accusing the Obama advisers of being incompetent.

All the Obama worship went to his head. The poor bastard came to believe all the hype about him being the smartest president EVER. I can't really blame him though. It would take the self control and sobriety of a saint to not be seduced by all the crotch grabbing and pants creaming exhibited by left in 2008 and 2009 at the mere sound of his voice.

WTF Does larry summers know?? Who's he.....

And yet many called for more, including what bho said in public. Of course you can have it both ways when you not held accountable for what you say

Geithner and Summers are half the leadership team responsible for collapsing the US economy. No change or solutions from these quarters. Just bailouts for criminal wealth. They routinely failed out carryout Obama's directives. They even got Obama to talk like a Rethuglican. Geithner and Summers are self serving members of the revolving door that is selling the country down the river to enrich a few. They drove Brookley Born out of power from which followed the collapse of Long Term Capital Management. Summers then lost 1/3 of Harvard's endowment gambling on the derivatives market Born wanted regulated. His close associates at Harvard were sued by the Feds for squandering and misallocating foriegn aid funds for Russia. Under Rubin's direction Russia was eviscerated leading to the rise of Putin. Rubin was instrumental in getting Summers placed at Harvard. Throw in Greenspan and you have the economic team from hell. Destroyer of nations while enriching themselves.

lol, is there also a leaked memo telling me how much better off I am?

4 more years!

lol, is there also a leaked memo telling me how much better off I am?

#13 | Posted by L_E_Light

you are not better off? WTF is wrong with you?

Get off the blog and get to work then. What a lazy shit you are. LoL

This article is for those who stupidly think all 867 B was spent, it wasn't, most of it was returned to taxpayers and states.
#5 | Posted by danni at 2012-01-24 01:23 PM

Now don't go stickin' that there realitified stuff into a righties rant, there girl.

Northguy thinks danni's link supports Obama's failed decision

So in other words Danni, you are arguing that O'Bugger wasn't stupid - he was just lying about the shovel ready jobs.

"Obama Advisers Rejected Giant Stimulus"

Biden thought it was the 49'ers.

You've also been accusing the Obama advisers of being incompetent.

#9 | Posted by Sycophant

Apparently, it's mostly on Obama. Or on the advisers that told him to go ahead with the Stimulus. Rahm? Nancy? Harry? Definitely hacks.

It's Obama that is incompetent. He's the decider.

he was just lying about the shovel ready jobs.

#18 | Posted by Huguenot

Yep.

You've also been accusing the Obama advisers of being incompetent.

#9 | Posted by Sycophant

Not the ones who quit.

"Since its enactment in February 2009, $740.6B has been paid out.
www.recovery.gov"

HUh?? You can't even understand your own link.
It clearly shows that 299 Billion went back to taxpayers in TAX CUTS.
Another 218 Billion went to pay for things like UNEMPLOYMENT COMPENSATION (money going to states) and HEALTHCARE BENEFITS (money going to states.)
Only 222 billion went to "Contracts, grants and loans.)

Here is a link from a page within your linked site that breaks it down better:

"Since its enactment in February 2009, $740.6B has been paid out.
www.recovery.gov
As usual, Danni is talking out of her ass. You truly are a fucking retard.
#16 | Posted by joe"

Joe, you may want to read your own link. It appears to support exactly what Danni said.

It's that kind of attention to detail that make Joe's briefs so compelling. Compellingly awful.

Kenyen 0bamanomic Epic Fail

Danni why do you try?

How pathetic can you get?

FACT: In tiny steps Obama has consistently outperformed his predecessor in spite of his worthless advisors. Its not that Obama was so good, its because Shrub was the worst President ever.

Danni --

Stimulus was only -- what now? -- $240B? And the rest was ineffective giveaways to the rich?

FACT: In tiny steps Obama has consistently outperformed his predecessor in spite of his worthless advisors. Its not that Obama was so good, its because Shrub was the worst President ever.

Tiny Steps?
Is that what "Hope and Change", "Yes We Can" was all about?
Wouldn't "Tiny Steps" just as easily fit on a bumper sticker?

you may want to read your own link. It appears to support exactly what Danni said.

No it doesn't. Danni claimed that most of the money was not spent, and was instead "returned to taxpayers and states." It's disingenuous at best to claim that handing out tax credits and unemployment benefits means you are "returning the money."

"It's disingenuous at best to claim that handing out tax credits and unemployment benefits means you are "returning the money."

How are tax credits NOT "returning the money"?

HUh?? You can't even understand your own link.
It clearly shows that 299 Billion went back to taxpayers in TAX CUTS.
Another 218 Billion went to pay for things like UNEMPLOYMENT COMPENSATION (money going to states) and HEALTHCARE BENEFITS (money going to states.)
Only 222 billion went to "Contracts, grants and loans.)

#24 | Posted by danni

Do you ever read the details of that fucking tax cut? Try it sometime and find out that they arn't what you think.

How are tax credits NOT "returning the money"?

If the money is being "returned" to a select group of people for a specific purpose, it is more equivalent to government spending than a return of the money. We are talking about homebuyer credits and transportation subsidies, not simply giving everyone their money back.

Like I said, her claim, while technically true, is disingenuous.

"If the money is being "returned" to a select group of people for a specific purpose, it is more equivalent to government spending than a return of the money. "

Well, you're entitled to your opinion, regardless how much you have to parse to get there.

"We are talking about homebuyer credits and transportation subsidies"

And tax cuts, like the Making Work Pay credit, which "returned" 5 times the homebuyer's credits.

"Like I said, her claim, while technically true, is disingenuous."

Hilarious.

Again - when taxes are cut for specific people, and tax dollars are spent to provide credits to specific people and businesses who engage in government-approved behavior, that is not a "return" of the money in the commonly understood sense of the word. Under DanniForth logic, any government spending is a "return" of tax money since somebody in America receives the money.

" that is not a "return" of the money in the commonly understood sense of the word."

It's a return of the money. "Commonly understood" is your problem, not a problem with the facts.

"Under DanniForth logic, any government spending is a "return" of tax money since somebody in America receives the money."

Whereas under Joe's logic, returning the money to the American people via tax cuts isn't really returning the money, as Joe commonly understands.

Example: 300 Million people pay taxes. Government cuts taxes for one of those people. Has that money been returned?

"Like I said, her claim, while technically true, is disingenuous.
#35 | Posted by JOE"

I see what you're saying. I think you are both right, in different ways. I'm calling this one a tie. (You think Kanrei will let me sit on his fence for a spell?)

"Example: 300 Million people pay taxes. Government cuts taxes for one of those people. Has that money been returned?"

What a croc. You deliberately ignored the largest single line item, and the one which affected 90% of workers. Your dumbass illustration is even more proof how desperate you are.

Using your logic, "returning" the money to 299.99 million while carving out ONE extra tax cut wouldn't be "returning" the money, either.

logic, lol.