As we all know, the U.S. economy has hit some hard times recently. Many people have lost their jobs, and the real estate market has taken a big hit (though there are very promising signs on the horizon).
As real estate investors, we have to pay attention to these things, as both the reality and the perception of the economy has a very direct impact on our ability to acquire properties and buyers/renters for those properties.
Our rookie president Barack Obama has proposed a massive spending bill as his antidote for the economic doldrums faced by the U.S. economy. I have some specific opinions about that based on vast amounts of history regarding the effectiveness (or lack thereof) of these types of programs.
But this isn’t about my opinion. It’s about yours. So please, tell us what you think in this anonymous poll:
[poll id="8"]
Are there any specific provisions of the “Stimulus” which you think are a particularly good or bad idea? If so, tell us about it in the comments area below.
As always, thank you for reading RealEstate.BryanEllis.com. (Because of you, we’re one of the fastest growing real estate websites on the internet. Thank you!)
Two things in particular:
1) Democrats Sneak Socialized Healthcare Into Stimulus Bill.
As currently written, the bill threatens our health care system by mandating a cost-effectiveness standard to health care. Medicare currently pays for treatments deemed safe and effective. The new standard in the Obama porkulus bill will lead to rationed health care. Hidden in the bill is a component that would create a government-run comparative effectiveness research program. This will create a board that will have the power to ration health care as it sees fit.
The hidden section on cost-effectiveness is a step toward socialized medicine – a goal that Tom Daschle outlined in his book, Critical. We all know what happen with Tom Daschle.
2) Anti-Christian discrimination in institutions of higher learning. It would have prohibited any college or university from using funds if those funds were for the renovation or repair of any facility that housed religious activities (prayer meetings, church services, etc.)
What does this two things have to do with “Stimulus” to the economy?
It’s safe to say that if there is no credit being given to home buyers that the housing industry will continue to struggle. Our only hope is to find cash buyers at reduced costs, do “Owner Financing” deals, or “Lease Options”, or become Landlords and rent our properties out. It’s not a pleasant scenario for me personally and not what I wanted to do when I got into the Real Estate investment business. But in times of a tough economy, we have to do what we can to survive. Hopefully my gut feeling is wrong and things will turn around in the housing industry for the better. But personally, I’m not counting on it with the Democrats in power. I welcome your opinions on the subject either in agrrement or to the contrary. We could all use some insight right now!
Barrack has watched and studied as the majority of the worlds countries have struggled with socialism. He now beleives that he the allmighty leader of the free world with all his wisdom and lack of tried and true experience can get it right. As the US struggles through his socialist agenda , and we will struggle, he will call that EQUALITY his real montra that he covers up with HOPE and CHANGE.
The truth is Obama does not believe that America diserves to be any better than the rest of the world so he is going to attempt to correct that.
However we are are strong people and I truely believe we will stand up
Thanks for your comments, folks. Let’s try to keep this focused on the specifics of the Stimulus bill. I love a good political fight more than anyone, but I think it might be more helpful presently to follow the example set by Sandor Ochoa and focus on specific issues about the Stimulus and/or the historical evidence for/against this sort of thing.
Thanks!
Bryan Ellis
I don’t believe that giving billions more to high finance will do much to stimulate economic growth. If we judge from the previous”Bail Out” of the lame duck Bush regime. Banks and business had their big parties and insanely generous bonuses, how did that stimulate the NATIONAL economy? IT DIDN’T ! BUT it sure must have made them, the recipients, feel so much smarter than the “common folk” and it fattened all their OFF-SHORE accounts, so to Hell with the rest of America. They are all just unbranded traitors in my opinion. As well as the politicians that let them get away with it. If I did that, stole the governments money, money that BELONGS TO THE AMERICAN CITIZENS, the authorities would be hauling me off to be incarcerated before 24 hrs had passed.
The only way the national economy will be stimulated is to put cash in the PUBLIC’s hands. Between 700 -900 billion dollars for this next round of STIMULUS ? HAH! How many citizens,NOT people here illegally, on visa’s, or in U.S.Territories, are there in America ? MAYBE 360 million, which would probably break down to a little more than half that many families.
Now, if our wisdom filled politicians, the word gets my skin to crawlin, were to give , in the form of a grant,one million dollars to each head of household, what do you think that would do for the economy?
The automakers wouldn’t need a bail-out, Folks would stop losing their homes, hey if they owe more than a million dollars on there mortgage, they need to get rid of it, big business in all fields would be out of the woods financially. Many Folks would be able to start their own small businesses,and who knows how many of those would go on to be BIG businesses ? And how many new jobs would be created out of real need for employees and not make work programs ?
The way I see it, the only positive thing planned to come out of all this stimulus package is the fact that our highways and bridge’s will get some much needed attention and repairs or replacements. Being a Trucker, I know all of us will feel safer crossing bridges if we know they have just been improved or replaced. I’m also gettin sick and tired of replacing my automotive suspension parts every other year because we don’t keep our roads and highways maintained.
Well Bryan thanks for the soap-box, thats the way myself , families and friends feel about it. We’ve talked over and over, the problem is that it will go against the way the people inpower in our nations government, think, and they
won’t like the idea. It would make too many American citizens feel like they were no longer second or third class citizens. We wouldn’t all be at the mercy of the high and mighty in the banking business, and we all know that just wouldn’t do! Heaven forbid !
Bryan, I’ll be interested to see what others think of my proposals.
HAVAGOODN PARDNER , .John
Why is it we taxpayers bail out the banks which are mostly owned by other countries but when we get laid off because our jobs went overseas the banks tell us, Too Bad So Sad?
When do I get my bailout? We don’t need a hand out just a helping hand… That will help the economy!!!
Let us stop blaming Obama for this economic pit- fall. We all know that the housing market gain high profits in the Bush adminstration because of bad lending practices. How can we gain from this situation. Become a smart buyer-investor. Buy Real Estate and sell/lease with the option to buy ,set a price and gain future income and when Obama’s system come’s into play you will reap from the rewards of a successful President elect.
The whole Obama-Pelosi Theft Act of 2009 is a disgrace to the American people and with so called senators like Chuck Schumer saying that the American people do not care about the PORK in the bill, I am afraid we have not only hit the slippery slope to socialism we are on the slippery slope and we are being herded over the cliff. “We the People” MUST put a stop to this and NOW!!
The United States Constitution contains provisions that when our government is no longer working in the best interest of the people the people have the right and the responsibility to replace the government. Folks we have most DEFINITELY REACHED THAT POINT!!! The simplest way to fix the mess that the two houses of congress have made is not to borrow our way out of the mess by continually going to the trough of never ending money the tax payers. This amazes me that some people are of a mind that the government has a never ending supply of money, well it does, its called the TAX PAYERS which I do not know about you but I am one of the TAX PAYERS that PAYS TAX and a WHOLE LOT of TAX.
With the Obama-Pelosi Theft Act of 2009 you and I not to mention the citizens of this country for the next 200 generations or more will get to pay even more TAX for another BAILOUT that WILL NOT WORK!! Want to bet the 535 Napoleons that are in the two houses of congress will be back to the trough in say ohhh about six months, given this PORK BILL has not even been signed by Chairman Moubama and they 535 Napoleons are already talking about the next PORK BILL to RAM DOWN OUR THROATS!!
Those of you that remember the days when President Ronald Reagan took office he was faced with double digit inflation and unemployment, how did his administration fix that problem? Hmmmmmm lets see, they CUT TAXES!! Got out of the way and allowed the People of the country to solve the Crisis the nit wit peanut farmer Jimmy if I had a brain Carter I would take it out and play with it created. Well folks welcome to Jimmy if I had a brain Carter I would take it out and play with it term 2 and with Chairman Moubama’s future plans for taking our country completely over the cliff all I can tell you to do is GUN UP, AMMO UP while you still have the opportunity to do so!!
Who else has found that since the BANKS got the bail out money to help home owners, that they are LESS likley to do a loan modifacation!The Banks loss is covered by the GOVERNMENT (OUR TAXPAYER MONEY), why help the home owner!
The one thing they don’t want us to know is what’s in the bill and what they plan to do with the money, from what I’ve heard it’s nothing but pork, spend spend spend and we get nothing but the bil. Divide the money among the people and you’ll see stimulis. they won’t be able to keep up with the orders for cars houses etc,
We the people to the Dems means You the suckers. All this does is bail out the politicians that created the mess and give them more money to waste. Harry Kellogg
The claim that socialized medicine is in the stimulus bill is completely false. Section 4001 of the stimulus bill is TITLE IV—HEALTH INFORMATION TECHNOLOGY. This section call for a standard HIT network that will standardize the collection of health records. We already have something similar to that today with CPT codes, ICD-9 codes and use of form CMS-1500. Fortunately most major health care payers use these standards. Section 4001 is providing for a national network that will utilize the standards throughout the system. If you move from one payer to another payer then your records will be able to follow you since everyone will be using these standards. The bill does provide for a department that will oversee the creation of this national HIT infrastructure. The bill does not call for this department to dictate who will and will not receive treatment. The department will not not have the right to ration services.
Socialized medicine refers to a central government managing the payment of medical services but does not deliver the medical treatment. There is nothing in this bill that calls for socialized medicine.
Creating a nationalized standard for coding and exchange of information would be a big improvement for the healthcare industry. Just like walking into any business and most likely finding they are using a TCP/IP network and PCs and you are able to share your information with them.
I truly believe that the 15,000 K tax credit to purchase a home will be a huge incentive for the buyers on the fence. They are also planning to reduce that 30 year rates to below the 5% mark. All of these things will get the inventory moving again. Hopefully this spring. Sheri McBride
Jennifer, and how is this a JOB Stimulus ? This health care section should be voted on in it’s own bill! Watch GOVERNMENT GROW!
What is in this bill that creates JOBS & HELPS THE HOME OWNER in FORECLOSURE?
This is a consumption bill. A stimulus bill would need to be a sowing bill. In other words to stimulate the investment money in the stimulus must be able to generate additional income and activiyt that once spent would re-create some addtional activity that can continue to produce more activity…
This bill is like when you eat a meal. After a while you will need to go to the bathroom and the stimulus will pass and get flushed and be over. After one does this its just a matter of time and they will need to go to the refrig or stove to CONSUME some more..
The area they really need to concentrate on is in the real estate residerntial values. Many people do not realize thats the backbone of the american economy and wealth. The real estate owned and the tax upon it is how local governemnets pay for schhools, roads, infrastructure, etc…….to make this part of a stimulus bill is consumption. Until it is stabilized local governemnets need to cut spending – budgets…maybe cut off some of the utopian society expenditures they have. For example what tree or bush you can plant…..etc…how about their multi million taj buidling they build for administrative reasons??etc, etc
Until the paper on the current mortgages can be valued investors of paper and real estate cannot in wisdom invest unless the price is so ridiculously stupid low…..so there has to be a plan to stop the bleeding of real estate values…that would be stimulative….for one the people who own houses now would see the bleeding of their personal wealth leaking out of the homes stopped..
A good stimulative program would be to take that money they are talking about right now and split it across americans by familes by amounts of people in there familes. then escrow it for the owners of property and for even renters by their family share of the whole nut. Then use the money month by month to pay the mortgage or rent of the people until that money is used up. each family would relaize the cost of the mortgage or the rent in extra cash in there pocket to do what they wanted.. THAT WOULD STIMULATE THE ECOMOMY….Investors would come up with ways for the renters to buy in lease/purchase – lease option type of agreements. The inventory of houses woul;d leave the marketplace…buiklders would begin to build again. people would get back to work…..the spending of the extra monthly money would go into the marketplace in goods and services boosting all areas of the marketplace….jobs would be created…
the housing crisis would be stabilized and values would increase again creting the riches thriough real estate that is the backbone of americ…
thats my opinion – I guess its not complicated enough, secret enough, partisan enough for washington politicians..
Second comment – where is my representation??? The way I think and believe is better represented in the republican theory.
# of those have sided with the pork – antistimulus – bring the american people for 1-3 generations under the slavery and servitude of the lender…..the borrower is servant of the lender a wise man once said…Solomon I think.
what – about 50 million voted for that ideaology and over 100 plus of these representatives were denied to be heard in the house and over 30 of these representatives were denied in the senate,,,,,,
I am not being heard or represented – I am being marginalized…
America was a representative republic – and the kind of actions we see now make it look like a socialist democracy – whoever can manipulate the masses rules…..
WHERE IS MY REPRESENTATION??? dO NOT TAX ME WITHOUT REPRESENTATION
I just finished reading a book called “The Money Men”. It delves into the history of the banking system in this country.
From the start in Alexander Hamilton’s days with the creation of the currency of the United States there appeared to be a divide in philosophy as to the ultimate control of the money supply. Federalist versus Capitalist.
The individual states, at that time, minted their own money. Congress sought to centralize the money supply, and thus the control. And, along the sidelines, were the capitalists, with such men as J. P. Morgan and the other industrialist of the day. The “Private” sector.
The Bank of the United States was the first attempt at having the money supply controlled by the “Public” sector. This first attempt created several rifts, particularly with the “private” sector. The public sector tightened the supply of money to attempt to bring the private sector into compliance. The attempt failed miserably and J. P. Morgan was called upon to stabilize the economy and the money supply. This was accomplished successfully and achieved a peaceful co-existance between the Federalist and the Capitalists of the day.
Several other attempts were made throughout the history of the U.S. Fortunately, the middle ground always seemed to come in the nick of time.
The present administration seems to be very much in the Federalists mindset. With control not only of the money supply but also the control over a powerful group of Capitalists entities would certainly make a sweep of control that much more inevitable.
The Federalist mindset has never been growth oriented while the Capitalist mindset has always been of growth. Tipping the control overly one way over the other for any length of time has never succeeded but a shared power has proved, over time to be the best recipe for success.
Should the Democrat/Obama control grab succeed? This could be very dangerous! It could also be unconstitutional.
To all with one comment for Sheri first,
Sheri and anyone else that hasn’t heard, they took out the $15,000.00 home buyer credit! So it is off the table and they is really nothing left in this plan to help home buyers or home owners in any way.
As for the plan in general, all plans like this have never helped anywhere in the world. Japan has tried the same idea more than once and it has been a miserable failure every time.
Trying to address specific faults with this plan would take up nearly as much space, possible more, than the huge volume of pages the plan has already consumed.
This is really a spending bill that has no stimulus at all. Most of the money isn’t even scheduled to be spent until the 2010 election. Wonder why that is?
The so called tax credits offered to us in the way of savings on payroll is on average $1.86 per day. All I can say is don’t spend it all in one place!!
This is a plan put together by tax cheats, looked over by tax cheats and cheered by tax cheats. How much can one really expect it to succeed?
What I do see happening with this plan is two fold and they are both not good
1. Interest rates will by neccesity go up and I think way up. Look at what happened when Carter did basically the same thing. How many houses are going to be bought and sold with interest over 8% or even 10%, maybe higher.
Higher interest is one thing that most economist agree on and I see absolutely nothing to indicate otherwise. The variable is how hard is it going to be to sell all this paper to other countries and can we even do it? A question I have not even really heard address by this political crowd.
If the government has trouble selling the paper they will be forced to raise interest rates and guess who wil get to pay that higher interest. You guessed it, you and I get to pay and oh yes any potential home buyer will be paying it too.
If you follow the money you will find out that as interest rates go up home sales go down. Always been that way before and I don’t see it changing any time soon. How many people are going to buy a home for $100,000.00 that cost what a $200,000.00 cost for payments now?
2. The second real effect of this bill will be inflation!!
When you have paper you are trying to sell and not enough buyers for it and you are the government you print money. Even if the stimulus bill doesn’t cause inflation, something most economist say it will do, the treasury spending that isn’t being talked about very much will cause inflation.
When you have rising inflation, rising interest, you do not have home sales. You have more foreclosures, not fewer on the horizon with this plan. The projection is for more in 2009 than 2008 and if this plan becomes law we will see even more in 2010 because we do not have a bottomless pit economy.
We can have a bottomless pit to pour money in ahead of us and if they put this on to us it will be a bottomless pit. So I guess they just plan on throwing us into the pit until it is filled with bodies of investors and even just people when they run out of investors.
So I hope I stayed on track well enough for this subject and I do apoligize for the doom and gloom but I think it will be even worse than many of us feel it will be.
Good luck to us all.
Chris B
You tell someone hey, I am “giving” you this money to stimulate the economy… yada yada yada… really? Ask them where that money is coming from. It is coming FROM YOU.
Read the fine print, most of the “taxpayers” who funded the package in the first place will NEVER see a dime! There is a lot of pork in the deal.
Please wake up America…
Jennifer,
While the narrow portion of the bill you are quoting maybe a good thing in the long run, and I question just how big brother is a good thing, you are missing a huge chunk of what is truly socialized medicine in this bill.
They are stating that Seniors need to be more accepting of their condition.
They are stating the government will determine what they will pay for for Seniors.
They are stating (and I am simplifing it here) they will only pay for “proven treatment”, meaning nothing not already proven or cheap.
This sounds very much like socialized medicine to me as they are stating they will not pay for anything they don’t like, doesn’t matter what the doctor say should be done.
They are going one step further and in this bill it states any doctors not in compliance with the govenment ideas of what and how treatment should be awarded will be punished for not going along with the governments official line.
This sounds to me like even more than socialized medicine, sounds like communism to me. Imagine that communist ideas in the stimulus package, wonder where they came from?
Chris B
I feel the problem with our economy is corporate greed. The export of a vast number of jobs over seas. The export of American dollars for products that were once produce in America. The greed of corporate America has close their eye to the fact , that if you ship the jobs over seas, the people in this country has no money to purchase the products that are being produce over seas and shipped to America. In effect a drain on the American dollar and the devaluation of the American dollar. All under the cover of global economy, just another word for New World Order as President George Bush SR said when he first introduce the New World Order.
All politicians tell us what they will do for us with our tax money. What they are suppose to do is spend what they receive for the public good. They tell us we will give you health care, housing assistance, student assistance, child care assistance and on and on. Then after they tell you what they have done FOR YOU, they hand they bill to the next generation and say you pay for it. Our government, local, state and federal, all spend more than they receive in tax revenue. They are unable to run a government without borrowing no matter how much they receive. This “stimulus” package will distribute alot of money to cities. Even though the cities will receive billions of dollars, taxes are still are going up. New York City, my hometown received Tobacco dollars for “healthcare”. Before the ink was dry, New York borrowed against the windfall for projects that had nothing to do with healthcare and today they are crying that the healthcare bill is overwhelming. DUHHHHH I detest seeing the names of politicians on buildings that they “received” funding for and they pat themselves on the back because they were able to “secure” this money for us. Isn’t that your job? Check out how many politicians fund buildings or projects with their own money after they leave office. NOT ONE OR NOT MANY.
This bill could be better!
The FIRST “Bailout” SHOULD HAVE addressed foreclosures by renegotiating terms to allow people to stay in their homes and continuing to pay home loans thereby also stabilizing the banking industry who made these loans. Failing financial institutions would be replaced by new ones filling the void. Yes there could still be casualties. Bailout money should have been used specifically for restructuring foreclosures and not co-mingled with any other business need, period!
Auto manufacturers had no purpose in the bailout.
The SECOND “Stimulus Package” would address the JOB creation issue including the auto industry. Infrastructure projects DO create jobs and it should be recognized that private construction firms would benefit as did reconstruction firms in IRAQ. The benefit this time at least going to the American taxpayer and not a foreign country. How do congressional Republicans not make this connection?
Jobs in Energy Transition is a must as we move into the 21st century and displaced workers should be retrained to allow them continued contribution to the nation and retain income to continue repayment of their home loans.
The Education money provided within the stimulus should apply to Job Retraining not K-12. Teachers displaced in K-12 could be used in the new jobs training programs thereby retaining teacher jobs, albiet in a new area.
This package should focus on JOBS creation in the short-term it doesn’t matter if some jobs only last 3 years during construction of a bridge per se. This is an emergency bill. Longer term -solutions will come. People would have JOBS, PAY MORTGAGES, and BUY GOODS which will ease the economic damage.
Real Estate Prices would stabilize as confidence does and lending institutions should lend more while writing more “responsible” loans, meaning interst resets that do not jeopardize the borrowers ability to pay. I believe we should also look at the homes we build. They should be more affordable to begin with. I recall a time you bought a home, it grew as your family and finances grew. We should build responsible homes for the actual population not just the homes that pad the builders, bankers, and cities, coffers.
I think republican and democratic ideologist have good reason to be ashamed of themselves. Freeloading corporate executives, shame on you too! The real welfare of this country has gone to pad the pockets of big business and private monetary interests, Lets just say the GREEDY, SELF-INTEREST of the powerful.
We should get back to building a stable system not a speculative one.
I haven’t actually read enough about “which” plan was voted on to be specific, but I can comment on why I voted for the immediate positive effects of the plan.
First & foremost it is a spending plan. Stimulus is defined by Dictionary.com as: “something that incites to action or exertion or quickens action, feeling, thought, etc.: The approval of others is a potent stimulus”, ergo what is the stimulus…SPEND to create demand that will permeate (trickle or gush) up-down (all around) economy it doesn’t matter. We need to spur demand!!
Note the sentence about “approval of others”, this is what this country is lacking. An understanding of the purpose of the plan. We are arguing over CRAP rather than substance. It has turned into a POLITICAL event rather than a STIMULUS. If I get a “gift” or financial help if I am loosing my home, would I say this is socialism, forget the gift? Japan’s govt. & the USA’s govt. financed Japan’s industries after the war, did we make such a fuss? Look at what the USA has done for other nations..was it called socialism? So what, no other entity can provide the resources that is needed or lets say they haven’t come forward (unless US Govt. guarantees their investment) to help stimulate SPENDING. Look no further than the stock market reacting negatively to the US Treasury’s plan to bail out very industry it is supporting. Investors “QUIT” investing because they didn’t hear enough SOCIALISM propaganda. Yet they complain we are a socialistic country, and yes if that’s what you want to call it…so what. Now we are a FREE socialistic country when we get lazy about our spending.
On the other hand, a stimulus for the auto industry & financial industries should be left to float in capitalism and settle out as tremendously difficult as that would be. Let the stimulus plan “BAIL OUT” these industries not separate government subsidies. Where is our entrepreneurial spirit? We need spending to spur this no matter what it is called. Bail out a dead dog from the river and you end up at a gravesite with a dead dog. Reviving is impossible!! I hear Ford is a good buy, sounds like the capital markets are still working, but they need help with the LAW of ATTRACTION!! It will not come from direct aid bail outs but Demand. Clear, pure & accountable demand.
Our government is doing what the constitution requires it to do. The resultant longevity of 3-4 million jobs which will spur demand is the bigger problem.
Have not ever read this much crap about socialism and what someone thinks happened nearly sixty years ago as I have just read.
First, the reason jobs leave this country is not corporate greed it is consumer greed! If you are not competitive then people will not buy your product. To stay competitive things are out sourced pure and simple. When was the last time one of these socialist idiots went out of their way to buy American made when they could buy the same or even better that was made abroad? When was the last time you went out looking for say an American made radiator? Alternatively, American made electronics?
If you are able, and for most products, you will not be able, it will really cost you. The reason is simple too, that it is nearly impossible to comply with EPA standards to manufacture these products here. Driving the American made items like this into strict specialty markets.
That is not corporate greed this is the law of supply and demand! The government does not create jobs; it takes jobs out of the economy. Higher taxes reduce jobs!! Higher taxes create inflation, which also reduces jobs!!
Only idiots that are not able to read history, have a stake in power, or have a vested interest in destroying a system believe otherwise. You pick which it is for the idiots we have in power. I think for some it is all three!!
During the depression, we had high unemployment and high taxes. FDR screwed everyone he could and by the start of the war, we had high unemployment and high taxes! That is one of the reasons for the war; we were seen as weak and unable to do much to resist the axis powers. We lost the war for most of the first three years. It was not until we were able to make some much-needed technical advances that the tide really turned to our favor.
We came out of the war with a very strong manufacturing base and went right into a recession. It worked itself out and over the years, we have put more and more regulations in effect and destroyed our manufacturing base. We became more of a think tank economy with a, consumerism base to our economy. This is going away because of crappy schools lead by a crappy teachers union not interest in anything but protecting their jobs and getting more money to do an ever worsen job ranked by performance. The only way any performance gains are realized in public schools is lower the testing standards.
Therefore, we are losing out to other countries for the brain trust so very important to our well-being in this global economy. For those that think going to a protectionist economy will work, read what has happened to every protectionist economy there has been in the world. They have all failed every one of them. They always will fail; there is no way for them to ever succeed.
One good example is hybrid or electric cars. The nickel is mined in Canada, it is shipped around the world, processed into a sponge in China, (one of the only countries willing to process this extremely toxic material), then it is shipped to the United States. Sound global to me and we all have to cooperate to make a battery for a hybrid.
This so call stimulus bill will put our recovery way behind. People can rail against Wall Street all they want but it is a very effective indicator of what is going on in the world. It has been for the last century and will be for the next century. Not just in this country but all around the world.
People are only paid what they can convince someone they are worth. I am not saying some people are not over paid, hell I have worked with plenty of them at different times, but I am saying focusing on something that is part of the supply and demand of our economy and making that a villain is not very smart.
If one wants to have villains, then look at the erosion of our freedoms, the erosion of businesses being able to make their own choices, not some edict by some idiot political hack that has never done anything but go to school and kiss some babies ass.
We need to look at how the government has hamstrung individuals and businesses all across this country. This stimulus bill is just one more example of political hacks screwing us and asking us to smile while they do.
I am not smiling.
Ok, we should at least get one thing straight before we go any further: the problems that this country is facing happened under George Bush’s & the Republicans watch, not Obama’s and the Democrats. I’m not saying that Bush is 100% responsible for the problems of this country, but he IS largely to blame. And before you go blaming Pelosi and her crew, they were only in the majority for two years of the last eight. The damage was already done, so you can’t blame them either.
I know you Republicans are afraid of government meddling in your lives, but that kind of is the governments job. If you leave the rich and the wealthy to do as they please, they will most certainly rape and pillage everything in sight. History proves this over and over. The reason Wall Street and the Banks screwed up the economy was because of greed. Plain and simple. Bush basically told them, “I’m going to give you a 6 year window to steal all you can. After that, I’m can’t protect you anymore”. So he removed any accountability, checks&balances, or regulation for these financial institutions. And what did they do? They raped and pillaged.
I don’t believe Obama’s plan is perfect, but I believe it will create jobs. Everyone on this blog is screaming about the pork. I didn’t hear you screaming about the trillions in pork that Bush buried us in over the last 8 years. Now that’s pork. So before you start blaming Obama for stealing your kids futures, remember that Bush 43 has already done that. So blame yourselves. YOU voted for him TWICE.
Give Obama a chance. I think he knows what he’s doing. He’s certainly smarter than you or I, and quite possibly the smartest president we’ve had in over 100 years. He deserves a chance.
Good to see you again, Anthony! I concede that Obama is smarter than you, as you admit. I don’t concede that he’s smarter than me. Nor do I concede that he’s smarter than all of my readers. (Tisk, Tisk!) Or that he’s smarter than any president we’ve had in over 100 years. Don’t you think it casts doubt on your judgment to make such a pronouncement when the guy has had a minimal amount of national exposure and barely a month in his current role? I don’t ask you to agree with any particular position, but I do think a measure of reason would assist your arguments. — Bryan Ellis
Anthony,
Do 2 wrongs make a right? Just because the republicans spent like drunken democrats does that mean the democrats now have to spend even more than the republicans? This spending has to STOP!! Where is the Obama promise to stop the pork spending ?? A new, honest & open Washington. OK, Obama another campaign promise broken! How & Where does this spending bill help people in foreclosure & create jobs other than create more government agencies that will never go away..
I voted this way because I believe that its not a stimulus bill at all.
There are so many ways to better stimulate our economy.
I was just shaking my head when reading some of these comments here… OMG there’s some Obama kool-aid drinkers here for sure.
I dont have alot of time to give my opinions like everyone else. The question was why did I vote this way.
Simple answer… I go to people who are educated on matters where I am not, to get an insightful truthful opinion of whats going on. That my friends would be, Rush Limbaugh, Sean Hannity, Mark Levin, Neal Boortz, Glenn Beck, Dave Ramsey, and a few others.
It would benefit many here to do the same.
Happy Real Estate Investing !!
I am reading so many interesting comments here, I decided to chime in… Pundits agree that the situation is bad, but many are reluctant to offer any solutions that will actually work. I agree with those that feel that the contraction that is taking place has been a long time coming and as painful as it is, we just have to let it take its course. Obama want to do SOMETHING, and I understand that most people would not understand if the gov’t sat back and let the invisible hand of the free market work it out but at the same time, giving checks with very little stipulation about how that money should be used is… well equally irresponsible and we see the results of that. One suggestion that I support was based on what was done in Swedem. The suggestion is that the stimulus can be more of a “loan” to these corporations who would then be required to pay the money back to support all those who suffer as the result of this crises (which we all know is going to mean a lot of social services for a lot of people).
What do you think?