Why Not Spend The Whole 800 Billion Dollars For Cars And Stuff?
By gewcew23
@gewcew23 (8007)
United States
August 1, 2009 5:25pm CST
Just to be honest the only part of the Stimulus package that has actually done something has been this CARS program. Originally it was just 1 billion now 3 billion of the 800 billion has been allocate to buying up used cars for new cars. Even though I will stick to my guns by saying this will have long turn negative effect on the economy, at lest it has had short term positive effect on the economy. Since Nancy Pelosi wants another stimulus package for roads and transportation at the tune of 450 billion why not just use all the current money for quick fixes. Allow people to buy a bunch of new stuff, cars, appliances, and school supplies, while using the new stimulus money for the shovel ready projects? If you are going to do something, for something at lest do it some what right.
1 person likes this
4 responses
@tessrow (92)
• United States
2 Aug 09
I think that none of the stimulus package should have gone to the banks, period. They weren't responsible with their own money, so what on earth would make the government think those same banks would be responsible with ours? Basically we're paying off their bad debts, and they are continuing the same bad practices that got them into this mess in the first place.
Why not put people to work with the stimulus package? They could be taxed on their earnings, so it wouldn't be a total waste in any case. Large-scale public works projects have worked to stimulate the economy before, and they don't involve buying up private industries and investing taxpayer money in private enterprises that ought to remain private.
If you put people back to work, they'll spend. If you don't, they can't. It's really that simple. You can't tax income that isn't there.
To my mind, any part of the stimulus package that doesn't put people back to work is wasted money.
@iriscot (1289)
• United States
2 Aug 09
Anyone who's been schooled on economics knows that money has to continue to change hands in order for the economy to grow or run smoothly. The banks and lending agencies did a lousy job with money they received due to greed. The CEOs and high ranking executives are still taking the outrageously high bonuses and wages.
The "clunker" deal for buyers and dealers is working and it was proven by the fact that the first billion didn't even cover one weeks' worth of sales. It not only helps the dealers and buyers, it helps the manufacturer of the vehicles, plus the parts makers, plus the small diners located near the plants.
All in all it puts money in the pockets of thousands of workers who will buy other products, be able to pay the mortgage and put food on the table. It's turning out a lot better than anyone could have dreamed.
My granddaughter and her husband are going to buy a home now instead of renting, due to the $8000 program, it is making it possible for them. This too, can help spur the economy.
@tessrow (92)
• United States
2 Aug 09
I know someone who was able to buy her first home because of the new stimulus incentives for doing so. So I can say both that program and most likely the CARS program are useful.
I just resent the fact that the banks that are STILL charging ruinous interest rates to many of their customers got a big infusion of OUR money, which they have not passed along in any way that I can see.
@Destiny007 (5805)
• United States
2 Aug 09
Because they are saving it back to use against the republicans during the next presidential election cycle.
They intend to go to a one party system.
Aren't lies and deception grand?
@tessrow (92)
• United States
2 Aug 09
I don't really understand why you'd make an unsubstantiated statement like that. Can you produce one bit of evidence for this?
It's just fearmongering, like when George W. Bush was in his second term and people said he would declare a state of emergency so he wouldn't have to leave office. Remember that? And then when it happened -- oh, wait, it didn't. And neither will what you're suggesting.
Fabricating scary scenarios is fun, I guess. But it doesn't further the discussion so far as I can see.
@irishidid (8687)
• United States
2 Aug 09
There were far better ways to spend the money. All this spending is going to be paid for and when the bill comes due there won't be any avoiding the collection agencies phone calls.
