Expected to announce the details in a speech tomorrow. Big :tup: from me, now that the big financials are shored up and have paid back most of the TARP money, it’s time to target our biggest economic issue, unemployment. A jobless recovery helps Wall St., but not Main st. and the government will be eating the cost either way, either through welfare and unemployment, or making jobs. Maybe Blue Eyed Devil will finally have ONE policy he can agree with the President about. :jays:
Well the infrastructure part would be directly correlated, roads don’t build themselves.
For the business tax cuts, i would hope there’s a hiring stipulation. It is, after all, a jobs bill. I feel more confident with Democrats doling out the money that it will end up creating jobs and not bigger balances in Swiss bank accounts. Let’s see what comes out after the speech.
This wouldn’t be part of TARP. This would be taking the “paid back” money and designating it for the jobs program so that we don’t have to borrow any more
So basically I take out a loan from myself for a trillion dollars, and once I pay back a third or so of it I say, “hey, I’m ahead now, look how much I’ve paid back. I think I’ll spend that money I paid back”.
I just really have a sore spot about not using the money to pay off debt. I am torn because I know how bad unemployment is, but at the same time I know this is money that the gov’t will never get back. So how can we start to pay off the debt?
Get people employed, unemployment starts to fall along with the current recovery, consumer confidence and private investment come back, economy takes off, tax revenues explode, surplus develops, pay money back in debt.
If you believe in Keynesian economics, government spending to eat slack demand in the labor market pays for itself many times over.
It will not get directly paid back, but with a large decrease in unemployment you will see an increase in tax revenue, so in the end it will be paid back through a sort of loop.
How about retiring the funds that were paid back? Wouldn’t that make more sense? Stave off deflation by creating the lending needed and then once the market sentiment is positive enough retire those monies so as not to create inflation? Of course with the above I’m discounting free market concept of letting the market find it’s natural balance, which I find most attractive. LOL
Yup, the American way. The loop that is a snake eating it’s own tail.
