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06/13/2010 07:49 AM ID: 84429 Permalink   

Obama Wants to Spend Another $50 Billion

 

Obama is asking Congress to approve a $50 billion package to aid state and local governments. Last month, the House removed a $24 billion request for state aid from a jobless bill.

Democratic leaders say Obama is giving conflicting signals by calling for cuts to programs and also asking for more stimulus spending. Republicans have offered an alternative that would cut $55 billion from the deficit over the next decade.

The original package was $200 billion last month but was cut back due to conservative Democrats. They could not support the bill because the national debt is $13 trillion or 90% of the entire economy.

 
  Source: www.msnbc.msn.com  
    WebReporter: morganmacleod Show Calling Card      
  Recommendation:  
ASSESS this news: BLOCK this news. Reason:
   
  12 Comments
  
  I don´t really understand  
 
why lenders are willing to let governments operate in debt at all. I guess they´re fools for trusting governments to be responsible.
 
  by: H. W. Hutchins   06/13/2010 07:35 PM     
  Reality  
 
Half the people wouldn´t care if the country wasn´t still in this whatever new name is used. There are cries all over the US to toss out politicians who are either voting to spend more money, give themselves raises or to cut emergency services like police and fire instead of laying off staff that work in City Hall.

I am waiting to see why some people think this is horrible on the R side while Bush asked for money over and over that ended up mostly in the pockets of his and Cheney´s friends. Before certain people jump down Obama´s throat they need to think about what they were willing to waste while it was "their" guy in office.

With that said I don´t think we should be asking for ANYTHING until congress and the senate can prove they can work together and start improving things that are already in front of them.
 
  by: TaraB     06/13/2010 08:11 PM     
  @Tara  
 
I have conservative views but really can not call myself a republican anymore. I did not agree with Bush spending money we do not have, nor do I agree with Obama doing it. I do not agree with all the pork spending attached to what could otherwise be good bills. Something in government needs to change and from my perspective that change can not be offered by democrats or republicans. Every election we just see more of the same and it´s equally as bad on both sides of the aisle.
 
  by: FreeMyMind   06/13/2010 10:54 PM     
  This´ll be funny  
 
Dem´s are starting to see Obama´s contradictions, so will the mass majority see through his pretty talk soon too?
 
  by: vhan     06/14/2010 01:27 AM     
  hahahahaha  
 
they need the money to build the rest of the FEMA camps that all you poor morons will be thrown into.
Dont you realize what´s going on yet? Holy mother....
 
  by: itts   06/14/2010 03:41 AM     
  Where is the money coming from?  
 
I don´t have any.
 
  by: walter3ca   06/14/2010 04:04 AM     
  Spend more.  
 
Hell why not, Whats another 50 billion when we are so far in debt now there is no way out. Nothing came of the first spending perhaps Obama needs to spend more to proof to himself you can´t spend your way out of this and he hasn´t got a friggin clue what he is doing.
 
  by: hellblazer     06/14/2010 04:09 AM     
  @FreeMyMind  
 
You might want to consider looking at the Libertarian Party, if you haven´t already done so. Of course, there are other parties out there such as the Constitution Party, the Green Party, et al, any of which might be more in line with your particular beliefs.

Regardless, please don´t get caught up in thinking that you´re just as good off by not supporting any party as you would be supporting a smaller party.

BB
 
  by: bbeljefe     06/14/2010 06:23 AM     
  @story  
 
Conservative Democrats are angry with this stimulus mostly because they understand that it does not offer entitlement to every American, regardless their plight. Case in point... the COBRA subsidy ran out in May and a lot of people have been laid off in the last 13 days, so they aren´t going to get 65% of their health insurance paid for by other taxpayers. Couple that with the fact that a few Conservative Democrats finally realized that this COBRA entitlement never even addressed owners of small businesses and you can see why these few Democrats have decided to stall the spending binge our administration is currently on.

Personally, I applaud these politicians for finally calling out the hypocrisy of this legislation. After all, if a person chooses to risk all by opening a small business and abandoning a "steady" income and then all of a sudden the market dries up... shouldn´t that person be just as entitled to welfare as his former coworkers who were let go from the job he left in order to make a better life for his family? Not to mention the fact that he actually had to pay for 100% of his family´s insurance coverage once he chose to strike out on his own. That is... if he could actually afford it when the market was good.

BB
 
  by: bbeljefe     06/14/2010 06:37 AM     
  random thought.....  
 
Lets say there was no debt.
And we had surplus money.
Would that not be a quick root to inflation?
 
  by: Mannyishere     06/14/2010 08:33 AM     
  @Mannyishere  
 
If there was no debt then currency would be backed by commodity. Therefor there would be zero inflation.
 
  by: Tetsuru Uzuki     06/14/2010 04:58 PM     
  @TU  
 
Isn´t that just relative to the amount of money printed in relation to the backing commodity?

Just for example with solid numbers, you have a commodity factor of 10, and there are 10 dollars in print.

You print off 10 more dollars, so now you have 20 dollars in relation to 10 commodities. Your dollars are now worth half.

I´m pretty sure debt isn´t the limiting factor on inflation.
 
  by: Pyronius     06/21/2010 09:16 PM     
 
 
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