Tigermike 4,309 Posted February 10, 2009 Share Posted February 10, 2009 Senate passes Obama's economic recovery planFeb 10 12:44 PM US/Eastern WASHINGTON (AP) - President Barack Obama's economic recovery plan has passed the Senate and is on its way to difficult House-Senate negotiations. Just three Republicans helped pass the plan on a 61-37 vote and they're already signaling they'll play hardball to preserve more than $108 billion in spending cuts made last week in Senate dealmaking. Obama wants to restore cuts in funds for school construction jobs and help for cash-starved states. Those cuts are among the major differences between the $819 billion House version of Obama's plan and a Senate bill costing $838 billion. Obama has warned of a deepening economic crisis if Congress fails to act. He wants a bill completed by the weekend. http://www.breitbart.com/article.php?id=D9...;show_article=1 Link to comment https://www.aufamily.com/topic/56288-breaking-news-senate-passes-stimulus-bill/ Share on other sites More sharing options...
Justin5 20 Posted February 10, 2009 Share Posted February 10, 2009 It'll be done by Saturday at the latest. More likely by Friday afternoon. Link to comment https://www.aufamily.com/topic/56288-breaking-news-senate-passes-stimulus-bill/#findComment-581424 Share on other sites More sharing options...
Tigermike 4,309 Posted February 10, 2009 Author Share Posted February 10, 2009 It'll be done by Saturday at the latest. More likely by Friday afternoon. What will you guys be naming our new socialist paradise? Link to comment https://www.aufamily.com/topic/56288-breaking-news-senate-passes-stimulus-bill/#findComment-581427 Share on other sites More sharing options...
RunInRed 19,667 Posted February 10, 2009 Share Posted February 10, 2009 I thought this was passed last night by the Senate? Link to comment https://www.aufamily.com/topic/56288-breaking-news-senate-passes-stimulus-bill/#findComment-581429 Share on other sites More sharing options...
Justin5 20 Posted February 10, 2009 Share Posted February 10, 2009 I thought this was passed last night by the Senate? It passed to be brought to the floor last night. Today the actual bill passed. Link to comment https://www.aufamily.com/topic/56288-breaking-news-senate-passes-stimulus-bill/#findComment-581452 Share on other sites More sharing options...
bigsixfive 341 Posted February 10, 2009 Share Posted February 10, 2009 It'll be done by Saturday at the latest. More likely by Friday afternoon. What will you guys be naming our new socialist paradise? USSA. Link to comment https://www.aufamily.com/topic/56288-breaking-news-senate-passes-stimulus-bill/#findComment-581453 Share on other sites More sharing options...
DKW 86 8,235 Posted February 10, 2009 Share Posted February 10, 2009 It'll be done by Saturday at the latest. More likely by Friday afternoon. The US may be 'finished' as of this bill... Link to comment https://www.aufamily.com/topic/56288-breaking-news-senate-passes-stimulus-bill/#findComment-581461 Share on other sites More sharing options...
au2004ece 30 Posted February 10, 2009 Share Posted February 10, 2009 It'll be done by Saturday at the latest. More likely by Friday afternoon. The US may be 'finished' as of this bill... Nah, it's just the beginning of the end. Wait until we can't borrow money to finance crap like this anymore. Then, the federal reserve will just print money and inflation will go bonkers. Again, so people won't be tricked in the near-term, the stimulus will give us a short-term boost over the next 1-3 years. The stimulus will have damaging long-term effects. Short-term boost, long-term pain. Link to comment https://www.aufamily.com/topic/56288-breaking-news-senate-passes-stimulus-bill/#findComment-581467 Share on other sites More sharing options...
arnaldoabru 11 Posted February 11, 2009 Share Posted February 11, 2009 It'll be done by Saturday at the latest. More likely by Friday afternoon. What will you guys be naming our new socialist paradise? Obamaland or Wecouldhavesatonourassanddonenothingland Link to comment https://www.aufamily.com/topic/56288-breaking-news-senate-passes-stimulus-bill/#findComment-581520 Share on other sites More sharing options...
BamaGrad03 0 Posted February 11, 2009 Share Posted February 11, 2009 It'll be done by Saturday at the latest. More likely by Friday afternoon. What will you guys be naming our new socialist paradise? Obamaland or Wecouldhavesatonourassanddonenothingland So you don't think doing the wrong thing is worse than doing nothing? You still haven't provided a defense of this bill. Link to comment https://www.aufamily.com/topic/56288-breaking-news-senate-passes-stimulus-bill/#findComment-581522 Share on other sites More sharing options...
OldNewby 27 Posted February 11, 2009 Share Posted February 11, 2009 There's well done and there's well-done. I think the nation falls under the latter. Link to comment https://www.aufamily.com/topic/56288-breaking-news-senate-passes-stimulus-bill/#findComment-581523 Share on other sites More sharing options...
arnaldoabru 11 Posted February 11, 2009 Share Posted February 11, 2009 It'll be done by Saturday at the latest. More likely by Friday afternoon. What will you guys be naming our new socialist paradise? Obamaland or Wecouldhavesatonourassanddonenothingland So you don't think doing the wrong thing is worse than doing nothing? You still haven't provided a defense of this bill. And how do you know it is the wrong thing. I have seen no altrenative plan offered by the Neropublicans. Link to comment https://www.aufamily.com/topic/56288-breaking-news-senate-passes-stimulus-bill/#findComment-581566 Share on other sites More sharing options...
Tigermike 4,309 Posted February 11, 2009 Author Share Posted February 11, 2009 It'll be done by Saturday at the latest. More likely by Friday afternoon. What will you guys be naming our new socialist paradise? Obamaland or Wecouldhavesatonourassanddonenothingland So you don't think doing the wrong thing is worse than doing nothing? You still haven't provided a defense of this bill. And how do you know it is the wrong thing. I have seen no altrenative plan offered by the Neropublicans. Well then by all means jump on board this incremental move toward socialism. Link to comment https://www.aufamily.com/topic/56288-breaking-news-senate-passes-stimulus-bill/#findComment-581571 Share on other sites More sharing options...
au2004ece 30 Posted February 11, 2009 Share Posted February 11, 2009 It'll be done by Saturday at the latest. More likely by Friday afternoon. What will you guys be naming our new socialist paradise? Obamaland or Wecouldhavesatonourassanddonenothingland So you don't think doing the wrong thing is worse than doing nothing? You still haven't provided a defense of this bill. And how do you know it is the wrong thing. I have seen no altrenative plan offered by the Neropublicans. Remove all corporate income tax rates. Companies would then have 150% of the profit that they do now. When you go from 65% to 100%, you are adding 35%. 100% > 150% of 65%. That extra 50% of profits would either be used to invest in the future productivity of the company, hire more people, or pay their current employees more. When the company does these things, the government will still get their money because new employees pay taxes and higher earning employees pay more taxes. But, the money is used to grow the economy before Washington gets it's hands on it. This is a proposal that McCain made during the campaign (he didn't say lower it to 0, but he said to lower it). Those that support this know that it has no chance to pass with the current makeup of Congress. Link to comment https://www.aufamily.com/topic/56288-breaking-news-senate-passes-stimulus-bill/#findComment-581579 Share on other sites More sharing options...
Bottomfeeder 244 Posted February 11, 2009 Share Posted February 11, 2009 Roubini has commented and says we'll follow Japan's model of economic growth if this plan is implemented. http://www.nypost.com/seven/02092009/posto...debt_154169.htm Given the high re-default on the modified mortgages in past govt and pvt program, any new govt program should make principal reduction compulsory with maturity extension/interest rate reduction in a full-recourse to fix the problem of insolvency and make the monthly payments more affordable. To increase lender participation, the program should be mandatory, govt should share the cost of modifying the loan and any future losses on the loan, condition capital injection into banks/purchase of MBSs based on banks’ willingness to modify mortgages, and also offer lender a share in future home appreciation. To reduce fiscal costs, govt should be entitled to a share in future home appreciation.Homeowners not qualifying for govt's program can be converted into tenants for the same house for a given period of time Roubini: HOLC kind of program to reduce face value of mortgages since large no. of households are insolvent and need debt relief to have more discretionary income to spend and prevent the recession from becoming more severe http://www.forbes.com/2009/02/03/america-j...el_roubini.html Link to comment https://www.aufamily.com/topic/56288-breaking-news-senate-passes-stimulus-bill/#findComment-581590 Share on other sites More sharing options...
au2004ece 30 Posted February 11, 2009 Share Posted February 11, 2009 Roubini has commented and says we'll follow Japan's model of economic growth if this plan is implemented. http://www.nypost.com/seven/02092009/posto...debt_154169.htm Yep, exactly like I have been saying. We are doing what is politically feasible, not what is economically feasible. We are trying to go backwards to just before the big problems started. That means the big problems will be in our future again. You have to go all the way through the big problems before they can be resolved. Link to comment https://www.aufamily.com/topic/56288-breaking-news-senate-passes-stimulus-bill/#findComment-581591 Share on other sites More sharing options...
arnaldoabru 11 Posted February 11, 2009 Share Posted February 11, 2009 It'll be done by Saturday at the latest. More likely by Friday afternoon. What will you guys be naming our new socialist paradise? Obamaland or Wecouldhavesatonourassanddonenothingland So you don't think doing the wrong thing is worse than doing nothing? You still haven't provided a defense of this bill. And how do you know it is the wrong thing. I have seen no altrenative plan offered by the Neropublicans. Remove all corporate income tax rates. Companies would then have 150% of the profit that they do now. When you go from 65% to 100%, you are adding 35%. 100% > 150% of 65%. That extra 50% of profits would either be used to invest in the future productivity of the company, hire more people, or pay their current employees more. When the company does these things, the government will still get their money because new employees pay taxes and higher earning employees pay more taxes. But, the money is used to grow the economy before Washington gets it's hands on it. This is a proposal that McCain made during the campaign (he didn't say lower it to 0, but he said to lower it). Those that support this know that it has no chance to pass with the current makeup of Congress. the ole trickle down theory. Link to comment https://www.aufamily.com/topic/56288-breaking-news-senate-passes-stimulus-bill/#findComment-581600 Share on other sites More sharing options...
au2004ece 30 Posted February 11, 2009 Share Posted February 11, 2009 Remove all corporate income tax rates. Companies would then have 150% of the profit that they do now. When you go from 65% to 100%, you are adding 35%. 100% > 150% of 65%. That extra 50% of profits would either be used to invest in the future productivity of the company, hire more people, or pay their current employees more. When the company does these things, the government will still get their money because new employees pay taxes and higher earning employees pay more taxes. But, the money is used to grow the economy before Washington gets it's hands on it. This is a proposal that McCain made during the campaign (he didn't say lower it to 0, but he said to lower it). Those that support this know that it has no chance to pass with the current makeup of Congress. the ole trickle down theory. Yep, the one that has always worked before. Link to comment https://www.aufamily.com/topic/56288-breaking-news-senate-passes-stimulus-bill/#findComment-581604 Share on other sites More sharing options...
autigeremt 7,551 Posted February 11, 2009 Share Posted February 11, 2009 It'll be done by Saturday at the latest. More likely by Friday afternoon. What will you guys be naming our new socialist paradise? Obamaland or Wecouldhavesatonourassanddonenothingland So you don't think doing the wrong thing is worse than doing nothing? You still haven't provided a defense of this bill. And how do you know it is the wrong thing. I have seen no altrenative plan offered by the Neropublicans. Remove all corporate income tax rates. Companies would then have 150% of the profit that they do now. When you go from 65% to 100%, you are adding 35%. 100% > 150% of 65%. That extra 50% of profits would either be used to invest in the future productivity of the company, hire more people, or pay their current employees more. When the company does these things, the government will still get their money because new employees pay taxes and higher earning employees pay more taxes. But, the money is used to grow the economy before Washington gets it's hands on it. This is a proposal that McCain made during the campaign (he didn't say lower it to 0, but he said to lower it). Those that support this know that it has no chance to pass with the current makeup of Congress. the ole trickle down theory. The only trickle down we will see whe this is all said and done is the urine that drips from the jackass. Link to comment https://www.aufamily.com/topic/56288-breaking-news-senate-passes-stimulus-bill/#findComment-581610 Share on other sites More sharing options...
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