Tuesday, February 3, 2009

Pres. Obama Wants To Stimulate You ASAP

Tuesday, February 3, 2009

YES WE CAN once again spend money like it's going out of style in the name of bringing America back from the brink of economic collapse. Or so says your president.

Barack Obama is asking the Senate to move quickly on passing a measure he thinks will fatten your pockets a bit and rescue the country from the doldrums of this very deep recession in one fell swoop. A very partisan U.S. House of Representative last week approved the President's $819 billion (yes, billion with a 'b') economic stimulus bill without a single Republican vote.

So what, you may ask, is included in this bill the President is so sure will save us?

$211 billion in tax cuts and $608 billion in government spending. The latter breaks down to "$43 billion for transportation projects, $19 billion in water projects, $21 billion for school modernization projects, $32 billion to fund a so-called smart electricity grid, $6 billion to bring high-speed Internet access to rural America." The President says the package will create 4 million jobs over the next two years.

I'm not so sure about that, nor am I sure this is the direction we need to be headed in. We saw this past Fall that spending billions and billions and billions of dollars does nothing to stimulate anything. But, what do I know?

Anywho, because we are a how-does-this-affect-me nation, I know you all are clamoring to know exactly how this will affect each of you. Here's the good stuff Obama is proposing:
  • A $500-per-worker ($1,000 per couple) tax cut for two years for anyone making less than $100,000 a year ($200,000 per couple).

  • A $1,000 per-child tax credit for workers who right now pay no income taxes.

  • $2,500 in new tax credits to for couples making up to $160,000 a year, to pay for college in 2009 and 2010.

  • Laid-off workers will qualify for Medicaid, no matter how high their previous incomes.
What say you?

Are you confident that the President's economic stimulus plan will work for you?


PRIMO said...

Hmmmm.... At This Point I can only Hope....

BPS 3.0 : Dallas said...

I'd rather the money goes toward rebuilding jobs for the American people by cutting taxes on businesses that keep their products in America. Also provide support for rebuilding America for those who are out of work. How wonderful would it be for the victims of Hurricane Katrina to be able to rebuild their city and put pride back into it? If you provide jobs then you provide spending power. If you provide spending power then you rebuild America. A 600 dollar check won't do anything for anyone in this country when they don't have a job.

Darius T. Williams said...

I'm not sure if it'll work - but we've gotta trust the man.

Joey Bahamas said...

I think it should be noted that the difference between this stimulus package and the last is that this package isn't focused on tax cuts for wealthy business owners and there is more government spending on infrastructure which the administration is hoping supplies 4 million new jobs.

The US has never been in a bind like this, and opinion is split as to whether it will work or not. But because this is new territory, this legislation is a bit of trial and error. I think hope is a good thing...but also, the administration has set up an number of ways for everyday people to weigh in on the matter and if people are worried about the particulars they should use those mediums to express themselves. Doesn't make much sense being silent about it...


kennyking78 said...

In my mind, something is better than nothing. Hopefully, I won't have to be too affected by the stimulus plan, but I like hearing about a stimulus plan that directly affects the common American as opposed to big business.

We have got to give it time... I don't remember the last administration (until its last couple of months--- and keep in mind that it supported big business) doing anything like this AT ALL.

bLaQ~n~MiLD said...



ShawnQt said...

Personally I think it will give us a boost, but won't save us. It will most def bail some companies out, but its up to the companies to start coming up with some ideas to really make them last! I feel like a couple of industries are really going to end and not come back.

All these high end places like fortunoff will be a thing of the past, it is all about Walmart, your one stop shop to everything, and at low cost! High End will always be around, but not like it used to be. We are shifting in thinking.

A couple of bucks in my pocket will make me get that new hdtv, but if I don't have a job, Im saving every penny I got. So until the job market is back up, then nothing is going to work.

Building bridges and roads is long overdue, and as a society we need it, especially for our future, and it will give us jobs for a time. But what 4-8 years? Then what?

I think the best part of this plan is creating alternative energy sources. It is just a no brainer to allowing us full independence in the USA and saving the planet. Brings in jobs and new technology, it will be cheaper for us, and sustain a better quality of life for all.

Better schools is important, if anyone knows, is that a better learning environment so improves the way we think. We create smarter people, so we can come up with smarter things to allow us to live longer. And the Internet access to rural America (AKA the red states) just makes more sense to me. Life is just so much bigger then farms. (not saying anything is wrong with farms, but there is more!)

We have to grow in this new shift in thinking. We now have the belief that anything can happen, we can do anything! We have our power back. And we see how greed will destroy us. But Public Service needs to be stronger, and know that the power of our dollar needs to be used wisely and not just on a new hdtv!

Mr. Jones said...

Primo - I hope our government doesnt fail us for a change.

BPS - "A 600 dollar check won't do anything for anyone in this country when they don't have a job."

Hell, I have a job and $600 won't fo a damn thing for me. I'm with you. Keep that lil rebate and invest in some long-term solutions.

Darius - Trust? A politician? That's crazy talk.

Joey - Good points. My only issue...we have been in this position before. American manufacturing got us out of the GD while FDR was fighting in WW2.

Kenny - I hear ya. I just don't think this will do what the President thinks it will.

B n M - That comment was the driest of dry.

Mr. Jones said...

Shawn - Look @ you giving a science lesson. I love it! And I agree with you, for the most part.

yet another black guy said...

The title alone had me cracking up!

bLaQ~n~MiLD said...

Sorry Jones, but I don't get into 'touchy feely' politics...

LoL@ a 'science lesson'.


Mr. Jones said...

YABG - tehehe

B n M - You whack.

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