So, even though several economists are saying that what Obama is doing overall is the right thing to do, you claim that it's irresponsible. Fine... what SHOULD he have done? Closed government and cut all spending? Give it all to the banks and hope it would "trickle down"? Explain.
No, spending was/is required. But Obama was/is spending in the wrong places. Look at unemployment. No jobs. A local radio host devoted a hafl-hour for people to call-in that had received a job because of the stimulus plan. Not one call.
All that spending and he couldn't get banks to lend? Couldn't get banks to extend some of those billions of dollars?? Which would in turn allow companies to finish construction/development projects and create jobs?
Where are the shovel-ready jobs? They were supposed to be instantaneous. Does he even care?
We acknowledge that... but we also know that you can't make money without spending it first. That's why all of this crying over the National Deficit is disingenuous. You'd get a lot more respect around here if you didn't go for the cheap points, star... when will you realize that?
Spending is required. But how much? And why are there no jobs?? Why are there hundreds of thousands of new unemployment claims every month? What, exactly, is the stimulus and spending doing out there?
It would be nice to see some results - some verifiable, factual results that the spending is doing something positive. It sure is a helluva lot of money that is being doled out.
Here is another example of what he could do:
Give a zero-interest loan to certain real estate groups (they would need to demonstrate application/expertise, etc.)
They could put together REITS (Real Estate Investment Trusts) in which they could go out there an start buying and managing property. Commercial property is selling for 20 cents on the dollar.
This would help the real estate market pick up, provide jobs such as maintenance, rehab, etc., several sales/analytical/clerical jobs with the REIT, and would start lifting real estate prices again in the short- and mid-terms. And the loans would all be paid back to the treasury; otherwise the government can go in and take possession of the real estate as collateral.
You CANT LOSE with that type of stimulus. WHY WHY WHY can't this administration come up with something as easy as that??
Jobs are created literally on day one, and the gov't is guaranteed to get their money back.