Posted on 11/22/2008 7:12:10 AM PST by Red in Blue PA
WASHINGTON – President-elect Barack Obama promoted an economic plan Saturday he said would create 2.5 million jobs by rebuilding roads and bridges and modernizing schools while developing alternative energy sources and more efficient cars.
"These aren't just steps to pull ourselves out of this immediate crisis. These are the long-term investments in our economic future that have been ignored for far too long," Obama said in the weekly Democratic radio address.
The goal is to it quickly through Congress, with help from both parties, after Obama takes office Jan. 20. The plan, which envisions those new jobs by January 2011, is "big enough to meet the challenges we face," he said.
Obama noted the growing evidence the country is "facing an economic crisis of historic proportions" and said he was pleased Congress passed an extension of unemployment benefits this past week. But, he added, `We must do more to put people back to work and get our economy moving again."
(Excerpt) Read more at news.yahoo.com ...
But go to the slaughter, they will.
A tad too much “chicken little” syndrome.
We are still the greatest country on the face of this rock and the illusion that our downfall will create a rise somewhere else, IMO is just an illusion. The rest of the world depends on us to survive.
See tagline, we survived.
TAX CUTS.....do I hear the words.....TAX CUTS......anybody? TAX CUTS?????
He intend to hire 2.5 million ppl to work for the government?
Yes, King Showbama will fix everything....
Who knows, maybe he’ll sell the rights to the bridges and roads to foreign governments and they can charge Americans tolls for usage.
O!
We sO! f**ked.
Next up on the agenda, he’ll make mens’ peckers and womens’ boobs bigger.
Wait till the public outrage is directed at the media. They have been the major player that has caused this mess. Maybe the stupid public (Obama idiots) will somehow see the truth.
Naw, just a thought.........
“The Apollo Alliance, a San Francisco coalition of environmental and labor groups, also released a study in September. It concluded that five million green jobs could be had with an investment of $500 billion — more than three times Mr. Obama’s number.
Kate Gordon, co-director of the Apollo Alliance, says the numbers are less important than the message. “Honestly,” she says, “it’s just to inspire people.”
See this:
http://online.wsj.com/article/SB122601449992806743.html?mod=googlenews_wsj
His proposal according to his campaign website is to spend $150,000,000,000 in developing clean energy and producing 5,000,000 well-paying jobs. That $150 billion is not all for wages but let us assume it was. These well-paying jobs would be paying $30,000 a year or $15.63 an hour—that’s before any deductions and assuming everyone gets paid the same amount! Yeah, that’s something to really “inspire” people and get them all excited!
I guess it’ll take that many people to dredge the harbors after the seas recede...
Notice that the plan wasn’t announced on a day the market was open. The DOW would have tanked big time on this “spend our way out of the problem” scheme.
“I was always under the impression that everytime gov’t hires someone, the public sector looses money.”
Your impression is correct. the money the Govt spends is taken out of the pockets of taxpayers and so whatever investment the Govt makes is simply displacing private sector investment. And if the govt takes on debt, it also crowds out private sector debt.
So this is basically a scam in which nothing productive is accomplished but that since the impression is given that something is being done, it will have the intended political effect.
Note this - FDR LENGTHENED THE GREAT DEPRESSION:
http://travismonitor.blogspot.com/2008/11/fdr-lengthened-great-depression.html
Yet he got re-elected 3 times. Go figure.
Like Clinton, he will make the numbers look good on the surface and take full credit, even though it will guarantee a secondary economic melt-down.
But don’t expect the blame to go anywhere except towards Conservatives.
They still believe that this mess is due to the public mood and can be turned around if everything is presented as peach keen and rosy.
“Pathetically, millions of morons haven’t realized it yet, but that day is fast approaching. The anger will be something to behold.”
I believe at on December 5th when the US Supreme Court makes a decision that will prevent Obama from taking the Office of President, the anger will be directed towards Obama for being the total lie he is. Yes, some will riot, but they are the folks who would riot for any reason and continue to do so.
I was in high school when they opened the 55 freeway which was then call the "Newport Freeway" because it was supposed to take everyone to Newport Beach. That freeway has been under constant construction since 1968 and it still doesn't end in Newport. It dead ends into Costa Mesa. Newport doesn't want it. Never did.
It has been widened and bridges have been built and rebuilt and I don't think I have ever driven on it when some kind of construction hasn't been going on. The total length of the freeway is about 10 miles. I think they now call it the "Costa Mesa" freeway. I guess they gave up on the Newport idea.
This will cause Wall Street to sell-off heavily to roll everything into Government/Municipal bonds. Which is already happening.
This is a carbon copy of the Carter years. I expect much the same thing to happen to the private sector as did then. There will be oil/fuel shortages, rationing, huge unemployment and run away inflation.
You can’t artificially stimulate an economy that just isn’t there.
He’ll give everybody a pair of scissors and tell them to trim the prairies.
Talk is cheap
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