Skip to comments.Obama may seek more stimulus
Posted on 08/17/2011 8:16:56 AM PDT by Qbert
OK - I may not be the brightest bulb in the room...[Snip], but how can you call something a deficit reduction committee if you are going to spend more taxpayer dollars to stimulate the economy?
Isn't that sort of counterintuitive? Welcome to Obama's Fantasyland:
President Barack Obama is considering recommending that lawmakers on a deficit committee back new measures to stimulate the lagging economy, people familiar with White House discussions said Tuesday.
The plan Mr. Obama is considering also would recommend the congressional committee come up with a package that reduces the federal budget deficit by much more that its mandate of $1.5 trillion over the next decade, a senior administration official said, through changes in the tax code and social safety-net programs.
"There's no reason to stop at $1.5 trillion," the official said.
Mr. Obama hasn't agreed to a set of proposals, people familiar with the discussions said, but the White House will begin to decide on elements of the plan in coming days. Mr. Obama is expected to make some decisions by Thursday.
The White House is looking for ways to boost the sluggish economy and bring down unemployment that is now stuck above 9%. Mr. Obama, facing re-election next year, has been pushing Congress for months to adopt a variety of stimulus measures, some of which he could urge the committee to embrace. These include extending unemployment-insurance benefits and a payroll-tax cut for employees, which expire at year end and together cost more than $160 billion a year, and an infrastructure bank that could cost as much as $30 billion. The White House is also looking at a payroll-tax cut for employers, worth perhaps as much as roughly $110 billion, and other tax breaks for businesses of as much as $55 billion.
(Excerpt) Read more at americanthinker.com ...
If Jeb Hensarling votes for more porkulus, he can forget to come home to Texas because in Rick’s immortal words, “We would treat him real ugly.” However, one wonders what the two MI congressmen on the committee will do. If Boehner screws this one up with these appointments, he should be toast.
Obama steals a few trillion more, of which a few billion more goes missing, and a few more millions end up shrinkwrapped in Wrangel’s freezer.
And the beat goes on.
How about a massive increase in the food stamp program. Today, just a mere 45,000,000 Americans are on it. Each $1 going to them, after the multiplier, yields $1.84 in GDP. Lets put all 350,000,000 Americans on it. While were at it, no need to stop there. Lets encourage all the youts and flash mobs to multiple and destroy, to increase replacement manufacturing and boost the cleanup industries.
The 200 year old Uncle Sam is in a Coma due to massive systemic bacterial infectons and Obama is precribing more viagra.....
What is needed is the infected tissue needs to be cut out and pump the system full of full spectrum anti-biotics.
Not more “sensual stimulus”.....
Like the recent deal you simply cut $2 trillion over 10 years but spend $4 trillion immediately!
OMG, OMG, OMG we gotta make a deal! We gotta make a deal or everything's going to collapse and we're all gonna die!
I'm not asking for anything cuz I don't wanna blow this deal! It's the best we can get!