Posted on 02/16/2009 2:15:07 AM PST by JohnHuang2
The "stimulus" was passed by Congress late on a Friday night. They often pass these things on Friday nights so we peasants and serfs can have the weekend to drink it off our minds, and hopefully we've forgotten about it come Monday. Not this time. Continues...
Stimulus hoax; Granny hardest hit
Amazingly, the New York Times recently discovered that the recession is being caused by a credit crisis and not insufficient funding for federally subsidized courses on sexually transmitted diseases.
The Times notes that a credit crisis "is dragging down the economy," and that "banks cannot resume the ample lending needed to restart the wheels of commerce" and that the "mountain of losses from bad bets" easily "would overwhelm the value of banks' assets" and that banks are basically insolvent. So, to make it all better, Democrats inserted $1,000,000,000 in the 'stimulus' bill for courses on sexually transmitted diseases.
A new Rasmussen poll shows "only 39% of Americans now express confidence in the stability of the U.S. banking industry, with just six percent Very Confident," which "marks a 29-point drop from last July and a 25-point fall-off from September. Most Americans -- 57% -- lack confidence in the banking system, including 12% who are not at all confident" -- this despite $300,000,000 in the 'stimulus' bill to help buy "green" golf carts for federal workers.
In fact, Reuters reports that "U.S. consumer confidence fell to its lowest in three months in February" -- from 61.2 in January to 56.2 this month -- "as sentiment grew increasingly gloomy," with February's fall suggesting "the recovery -- or bottoming at least -- that many economists had hoped for is now in danger." The index is "near the record low of 51.7 that it hit in May 1980." To jolt consumer confidence back to life and get the economy going, there's $50,000,000 in 'stimulus' cash for the National Endowment for the Arts.
According to the Commerce Department, business inventories collapsed in December, recording their biggest monthly fall-off in eight years, offering more "evidence the economy likely shrank at a faster pace in the fourth quarter than initially estimated" (Reuters, 2/12). December business sales fell 3.2%, on the heels of a 5.7% record plunge in November, even as the latest jobless data "reinforces the impression that the underlying pace of layoffs is continuing to rise rapidly, setting the scene for even bigger declines in payrolls" (CNNMoney.com, 2/12). But, not to worry. There's $200,000,000 in 'stimulus' cash for a low-pollution power plant in Obama's home state of Illinois.
CBS MarketWatch notes that economic data coming out this week will likely "show further worsening in the housing industry, manufacturing and employment," with housing "still collapsing" and industrial production "expected to have plunged again in January" and the job market falling off a cliff, with continuing claims just under 5 million. But there's $25,000,000 in 'stimulus' cash for Smithsonian Institution maintenance! So everything should get better soon.
The press seemed overwhelmed with shock that only three Republicans voted to totally fix the foreclosure crisis overnight by adding $20,000,000,000 yearly to the food stamp program; end the credit crisis by spending $2,000,000,000 for the National Parks Service; restore consumer confidence with $65,000,000 for digital TV coupons; stop the downward slide in the economy with $30,000,000 for government office renovations; rush $8,000,000,000 in emergency cash for high-speed rail "investments" for Harry Reid; kick-start car sales by spending $1,300,000,000 to bailout AMTRAK; fix your 401k losses by spending $3,000,000,000 on ACORN; cut joblessness by spending $47,000,000,000 more on jobless benefits; end the housing crisis by shipping $9,000 'stimulus' checks to Filipino veterans living in the Philippines; lift the stock market with $9,000,000,000 in school construction; jump-start manufacturing with $15,000,000,000 in Pell Grants; make millions upon millions of jobs via $30,000,000 in wetlands restoration for the San Francisco Bay Area to save Pelosi's endangered mouse; stimulate senior citizens with $250 stimulus checks, then kill them off with mathematical 'cost-cutting' equations some newly hired Obamabot bureaucrat cooks up to ration their health care.
Liberals screamed when they found out Bush was 'spying' on al-Qaeda, but libbies just can't wait to pry into each citizen's private medical records to 'stimulate' the economy by lopping off the old stubborn tree stumps, then shoveling the big bucks "saved" into loser banks to rescue them from certain death.
Democrats say their insane, life-changing medical proposals are what you'd expect tucked in an economic stimulus plan. Getting people into the most 'efficient treatment plan' was also the centerpiece of Hitler's 'stimulus plan' for the Jews. If Obama and Geithner got the hots for nationalizing banks ostensibly to "save" them, nationalizing health care is every Obotomized drooler's ultimate wet dream to get the useless eaters' cords yanked. Being as compassionate as they come, liberals look at seniors kinda like toxic assets under the TARP program; set up the 'bad bank' of socialist medicine, dump granny in there, remove the tainted assets from the government's balance sheet, then misdirect the billions of bucks "saved" into . . . tax breaks for 'needy' Hollywood movie producers . . . rural waste disposal programs . . . STD prevention programs . . . brand new cars for government bureaucrats . . . adult sex workshops . . . honeybee insurance . . . ACORN community organizers. . . more checks for residents of the Philippines . . .
Anyway, that's...
My Two Cents...
"JohnHuang2"
Have a nice day, y’all...
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Gimmee one of those green golf carts!
I can only blame the money grabbing democrat B******Ds that
run the banks.
Good one.
One of my daughters has a new boyfriend who is currently waiting deployment to Afghanistan. He spends most weekends with us, so we have time for some good talks. He was telling of some of his friends who just don’t understand the threat to our economy that China presents. He tries to explain it to them, but it sounds like they have drank too much kool aide. Did I say the kid is a Mexican born US citizen? Maybe more US born citizens should take the citizenship classes so they better understand civics/economics and how they effect you and me.
Well said, and as accurate as usual. It sums it up. The United Socialist States of Amerika, a wholly owned subsidiary of the Peoples Republic of China, is SUNK!
In this economy, your TWO CENTS make a very accurate investment....in the truth.
Great essay as usual
>>Maybe more US born citizens should take the citizenship classes so they better understand civics/economics and how they effect you and me.
We used to do a pretty good job of teaching that stuff in grade school. No longer.
Yep. Taken out so the kiddies can learn more about diversity.
Thank you so much for this excellent wrap-up!
You nailed it a again, John!
Great job!
You ROCK! thank you.
Where is that video of the high-tech magic thinga-mabob that is going to revolutionize the crinsine and put the pep back in the peptide remonstrance renovator? Sounds like the Obama Debt Bill all over again.
Excellent, JH2!
Absolutely and positively excellent!
We are in Carter’s second term...on steroids!
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