Archive

The Stimulus Saved Us From Depression

  • fish82
    http://www.reuters.com/article/idUSTRE61G38U20100217
    WASHINGTON (Reuters) - President Barack Obama said on Wednesday a $787 billion stimulus program helped the United States avoid dipping into an economic depression.
    My super mind powers are the only thing keeping the Earth from slipping away from the Sun's gravitational field and drifting off into space...thereby sealing our doom.

    See how that works? :D
  • ptown_trojans_1
    It is so hard to prove that it did or did not save it. One can point to indicators, but it is something we will never know.

    Sure, the economy was teetering, but a depression, one cannot prove.
  • BoatShoes
    I think TARP had more to do with it than the economic stimulus if we take Ben Bernanke's reasoning for why the Great Depression happened.
  • cbus4life
    Impossible to prove whether that was or was not the case.

    The economy was certainly in dire straights...now, a depression, i don't know, but it certainly could have happened.

    I don't think the rhetoric is that far off, maybe a little much, but still, fairly close.
  • jhay78
    I heard it also prevented cancer in about 3 million people, prevented a major earthquake from hitting California, and prevented 7 large meteors from hitting Earth.
  • derek bomar
    jhay78 wrote: I heard it also prevented cancer in about 3 million people, prevented a major earthquake from hitting California, and prevented 7 large meteors from hitting Earth.
    even if it had, Republicans would say it wasn't worth it :cool:
  • Writerbuckeye
    ptown_trojans_1 wrote: It is so hard to prove that it did or did not save it. One can point to indicators, but it is something we will never know.

    Sure, the economy was teetering, but a depression, one cannot prove.
    The stimulus saved us from a depression in the same way it stopped unemployment from topping 8 percent.
  • tk421
    Got to love it. Lying right to the public's faces. Problem is this country is too stupid to realize it.
  • bigmanbt
    Yeah, let's hear him say that in the next few years. Worst is still to come folks, worst is still to come.
  • Mr. 300
    Hope and change.
  • QuakerOats
    The rhetoric and claims continue to outpace the previous rhetoric and claims ....... incredible. And these lessons in economics from the socialist/marxist no less .....

    http://www.thefoxnation.com/culture/2010/02/17/college-acquaintance-obama-was-pure-marxist-socialist

    Interesting comments made in this audio, but nothing that many of us did not know.
  • jhay78
    Why is it still being called a "stimulus" program. Everyone knows it was the largest SPENDING bill ever, a credit card with no limit for Dems and their wish lists.

    The government cannot stimulate an economy or create jobs by spending money. You can't take money from the private sector (taxes) and create "jobs" and call it a stimulus.
  • believer
    Bullshit...sums it up for me.
  • BoatShoes
    jhay78 wrote: Why is it still being called a "stimulus" program. Everyone knows it was the largest SPENDING bill ever, a credit card with no limit for Dems and their wish lists.

    The government cannot stimulate an economy or create jobs by spending money. You can't take money from the private sector (taxes) and create "jobs" and call it a stimulus.
    a third of of the stimulus bill was tax cuts...(yeah yeah, tax cuts are no good now in the eyes of conservatives anymore unless they are reductions in rate brackets across the board)...but the point remains that this guy, jhay, is just spouting political rhetoric and doesn't actually know anything about the bill. (much like most of our Congress when they voted for it).
  • bman618
    The fundamentals say a depression was put off but it will be a deeper (worse) depression with all of the bad economic decisions of the Obama and Bush administrations when it comes. We are spending at an unsustainable level and blowing up a national currency bubble.
  • general94
    To all you posters that have kids, look in their eyes then think long and hard whether this massive bill full of Pork really "saved' anything, or just added to the mountain of debt they are all ready responsible for.
  • dwccrew
    I'm going to take my money and run, just like Steve Miller said to in his song. What country should I go to?
  • jhay78
    BoatShoes wrote:
    jhay78 wrote: Why is it still being called a "stimulus" program. Everyone knows it was the largest SPENDING bill ever, a credit card with no limit for Dems and their wish lists.

    The government cannot stimulate an economy or create jobs by spending money. You can't take money from the private sector (taxes) and create "jobs" and call it a stimulus.
    a third of of the stimulus bill was tax cuts...(yeah yeah, tax cuts are no good now in the eyes of conservatives anymore unless they are reductions in rate brackets across the board)...but the point remains that this guy, jhay, is just spouting political rhetoric and doesn't actually know anything about the bill. (much like most of our Congress when they voted for it).
    Adjusting the withholding tables does not = tax cuts.

    After Bush's tax cuts (you know, the real ones) were enacted, jobs were created for 52 consecutive months.

    THAT is a stimulus.
  • majorspark
    ptown_trojans_1 wrote: It is so hard to prove that it did or did not save it. One can point to indicators, but it is something we will never know.

    Sure, the economy was teetering, but a depression, one cannot prove.
    And Obama knows this as well. Which makes his statement of fact untrue. Otherwise known as a lie.
  • Bigdogg
    The majority of the so called experts agreed that without some kind of stimulus package, the US economy was going to collapse. Since I doubt that we have any people on here that were smart enough to be consulted with before Bush and both party's agreed to pass the initial stimulus package, I'll think I take their word on it.
  • RedRider1
    jhay78 wrote: I heard it also prevented cancer in about 3 million people, prevented a major earthquake from hitting California, and prevented 7 large meteors from hitting Earth.
    Saved or cured cancer for sure.....

    Cant say the stimulus prevented a depression....just like it can't be proved that NOT doing the stimulus would have done the very same.

    Either are plausible.
  • QuakerOats
    Bigdogg wrote: The majority of the so called experts agreed that without some kind of stimulus package, the US economy was going to collapse. Since I doubt that we have any people on here that were smart enough to be consulted with before Bush and both party's agreed to pass the initial stimulus package, I'll think I take their word on it.
    Many are confusing the TARP with the 'Stimulus'. The TARP (signed by Bush) may have prevented a banking collapse. The Stimulus (signed by Obama) is a massive spending boondoggle and is one large transfer payment, nothing more / nothing less. Change we can believe in ........
  • fish82
    QuakerOats wrote:
    Bigdogg wrote: The majority of the so called experts agreed that without some kind of stimulus package, the US economy was going to collapse. Since I doubt that we have any people on here that were smart enough to be consulted with before Bush and both party's agreed to pass the initial stimulus package, I'll think I take their word on it.
    Many are confusing the TARP with the 'Stimulus'. The TARP (signed by Bush) may have prevented a banking collapse. The Stimulus (signed by Obama) is a massive spending boondoggle and is one large transfer payment, nothing more / nothing less. Change we can believe in ........
    ^^^^ This.

    TARP may have saved the financial system from collapse. Maybe.

    The "stimulus" didn't save us from jack shit. That's a fact.
  • Bigdogg
    fish82 wrote:
    QuakerOats wrote:
    Bigdogg wrote: The majority of the so called experts agreed that without some kind of stimulus package, the US economy was going to collapse. Since I doubt that we have any people on here that were smart enough to be consulted with before Bush and both party's agreed to pass the initial stimulus package, I'll think I take their word on it.
    Many are confusing the TARP with the 'Stimulus'. The TARP (signed by Bush) may have prevented a banking collapse. The Stimulus (signed by Obama) is a massive spending boondoggle and is one large transfer payment, nothing more / nothing less. Change we can believe in ........
    ^^^^ This.

    TARP may have saved the financial system from collapse. Maybe.

    The "stimulus" didn't save us from jack shit. That's a fact.
    Sorry it's not a fact its YOUR humble opinion. I was once told when the experts disagree the rest of the idiots are free to have an opinion. I do not think anyone came prove one way or the other TARP or The stimulus program prevented a world economic collapse at this point in time. That's something that needs some time to evaluate and one year is way too early to make an accurate assessment. I think it is something that will be studyed and debated for a long time.

    You are correct about TARP but there was also stimulus package under Bush

    http://www.govtrack.us/congress/billtext.xpd?bill=h110-5140
  • queencitybuckeye
    Bigdogg wrote: The majority of the so called experts agreed that without some kind of stimulus package, the US economy was going to collapse.
    At one time, the majority of experts believed the Earth to be flat. A majority opinion is not necessarily the correct one. As often as not, it isn't.