Pelosi says $150B economic stimulus plan needed

Pelosi says $150B economic stimulus plan needed

news.yahoo.com

DENVER - House Speaker Nancy Pelosi said Wednesday that a $150 billion economic stimulus plan is needed now because of the faltering economy and she may call the House into session after the election to pass it.

Pelosi told reporters that the stock market meltdown, which has caused an estimated $2 trillion loss from pension funds, was a factor in her recommendation for a second stimulus bill. The first relief plan sent out $600-$1,200 tax rebate checks to most individuals

(visit the link for the full news article)

This is now beyond ridiculous. Leaders from both parties are slinging around money we don't even yet have like it's confetii at a Yankee World Champions parade. At what point does this cross the line from disasterous to comically unreal? We've got both parties talking about decreasing the defecit and debt... how do they expect this to happen when they continue to spend, spend, spend?

The nation needs to forget about every serious issue that's currently being discussed in Washington. There's clearly only one thing that matters and that's finding out what our "leaders" are smoking and obtaining some of it for each and every one of us so we too can join them in their little La-La land of make believe.

news.yahoo.com
(visit the link for the full news article)

What was it, like 80% of polled Americans were against the Bail-Out bill(on various news channels and sites), and now they think they can pass something like this without causing widespread dissent?

It's not longer a straw breaking the camels back, but more like a sledgehammer hitting it. From Space.

Even if they give us rebate checks, everyone I know spends it on secondhand or imported goods.

Seems they want their hyperinflation sooner rather than later. Another shot into the back of an already dead dollar. I doubt pelosi even knows what 150b is, that woman seems dumber than a doornail.

Anyone still have any doubts as to what these clowns want and are doing? If yes, try the email list at www.rothschild.com

My 10 ameros (this hyperinflation is bound to last into the replacement currency as well, hence the doubling of my opinion fee)



[edit on 8-10-2008 by Zepherian]

We already don't have the money for the revolving $700B bailout due to severe bond dislocation.
We don't have the money for this.

Oh my god, are these people insane?? Seriously?

Originally posted by SweetRevenge
What was it, like 80% of polled Americans were against the Bail-Out bill(on various news channels and sites), and now they think they can pass something like this without causing widespread dissent?

Even if they give us rebate checks, everyone I know spends it on secondhand or imported goods.

There wouldn't be any widespread dissent from the American public
if we thought that another $600 to $1,200 check was coming our way.
After all, the way the fed is churning money into the economy, why
shouldn't a bit of it go to the taxpayers directly? -cwm


[edit on 8-10-2008 by carewemust]

First thing one should ask themselves if and when they get this second stimulus is "What can I spend it on?" I mean after that 700B bailout, what will the dollar be worth? Will prices go up again causing people to have to spend their rebates on just gas alone? Will it be used for Food? Gambling? charity? All in all, I say a stimulus will do nothing, seeing as the dollar won't be much by the time the stimulus comes out anyway.

I'd really love to see a day at congress and see why and how they are coming up with these ideas

where are we supposed to get the money? We don't have the money to play the bail out, the and the tax base is falling. Pelosi gives new meaning to the word stupid!

Starred and Flagged Burdman....This is INSANITY.... this desperation HAS to stop.

FFS let the markets correct themselves before we send ourselves spiraling down too far to get back up!!

"When a man stares long enough into the abyss, the abyss sometimes stares back into the man" !!

I'm seriously sitting here with the most blank stare I've ever had (next to www.debbiewins.com posts)

AB1

[edit on 8-10-2008 by alphabetaone]

reply to post by kettlebellysmith


That is exactly what I want to know.
WHERE IS ALL THE MONEY GOING TO COME FROM?
Last night at the debate BOTH candidates threw around the word "Billions" like it meant nothing. Billions of $$$$ here, Billions of $$$$ there BILLIONS!! Even the word "Trillion" was brought up several times.
The general population has hard time wrapping their heads around millions much less billions and even trillions.
Come on, this is ridiculous.
We talk hundreds and our government talks billions, see how completely out of touch our Government is?
Pelosi is bringing another stimulus package up for sympathy points. She is only mentioning this option, they will not go forward with it. They should have and it should have been called the $700 Billion Bailout Main Street Package.
I am so over this whole bloody mess, I budget to pay a $150 electric bill or $50 of gas or $100 for food and these people are throwing around the word billion.
This country is so messed up, if I could budget a move out of this country I would but...

reply to post by SEEWHATUDO


I wont accept that... I wont accept perfectly good citizens wanting to leave this country that *I* fought for.

Fight damnit, don't throw your hands up.

AB1

SEEWHATUDO: You should listen to Jeff Rense and Alex Jones then, when you hear the word "Quadrillion" being thrown around regarding derivetives you know you're well and truelly screwed. And so are we in Europe too.

They have willingly destroyed the whole system, some out of agenda, some out of plain stupid greed. Some of the CEO's envolved, like the Lehman failed boxer, are worth half a billion dollars for basically ruining the economy of whole nations. It's one hell of a big mess.

This will either end in a new currency or currencies, or in a massive revolution and discarding of what are largely bogus paper debts. I favour the second, because we really need to get the system in line, and having an honest non inflationary monetary policy would save our western markets and allow us to have a more just economic system that would distribute the massive wealth of this planet more equally to the vast majority of generally good people out there. But this elitist driven pile o'crap(tm) just has to go and the people at the top need to be removed from the equation, or we will have nothing but tyranny and opression.

reply to post by alphabetaone


Thank you for fighting for us
We are not leaving the country our budget will not allow it.
I wish I could fight, fight what?
Americans fought to stop the Bailout Bill and we were ignored.
I can vote but being brutally honest that is about all the rights we have left in this Democracy and even voting has become shall we say skewed. Honestly I really don't care to vote for either candidate, I will write RP in but we all know thats not going to happen.
My childrens future is not looking very bright right now so I am in a very negative mood, I should probably do more reading and less commenting for the time being.

Might as well try to pass out flyers to Americans to get them to walk all the way (or drive) to Washington and tell these fat cats to get their heads out of their A**es and stop messing up the economy even more. Though with the invention of the TV most don't seem to want to go anywhere when their soap Operas or Dancing with the stars is on , but maybe just maybe if they see the way the economy is really going and such coupled with these reports perhaps America could be a fighting force the way it was in the Revolutionary war.

Everyone keeps asking where the money is coming from . . . where did you think it came from? It's not backed by anything besides faith. There is no gold standard that has to account for the money in circulation. If they want more money all they (FED) do is type an amount into an account and voila! Less than 5% of the total currency in circulation is hard . . . the rest is all electronic.

The problem is pretty soon they're going to crash that computer . . . then we'll all be holding . . . well . . . nothing.

So true . . . hyper-inflation here we come. And hyper-inflation has to lead to a depression . . . no way to avoid the cycle without, oh I don't know . . . making a NAU or changing the currency or ?.

I pray to God that this just doesn't past. What is this really going to accomplish if they do get it passed, I mean for real this won't do anything accept to add more to the debut that america has. The debut that I will have to pay for my entire life. Instead of giving away money why dont we try to get the country out of debut, and not waste money on things like this. It just makes me mad at how poor the leadership in the Untied States is right now. We just can't keep on letting this go on, this has to stop.

Hey Nancy for you!! No Problem!!
Let me make you out a check...hold on...150 billion right??
Here we go ...lets just make it 5 trillion...is that ok with you??
Thought you might like that!!

It's OK I am expecting a lot of money soon. I sold the sun on Monday!

Wait wait wait...

So if the first stimulus didn't work, and in fact led to this panic, how would a second one work.



I was wondering what happened to the "stimulus talk" and lo and behold, there it is.

This is leaders taking random stabs in the dark with this hoopla.

"Let's do a bail out!"

"Let's lower interest rates!"

"Hey... Let's do another stimulus package!"

"Let's bail out AIG... and send them on a holiday!"

This is unbelievable!

The US GDP is somewhere like 13 trillion (2006 numbers). Over the past few months, the government bought out Freddie Mac and Fannie Mae, passed the bailout bill, and passed another huge budget bill. With those actions alone we get close to 7 trillion in spending. That in a matter of about a month.

That doesn't count Paulson buying up commercial paper.

When you factor in the entire world having a financial "crisis"- Who the heck is going to be willing to buy US treasury notes? No one. Because The US people, and now the world has no faith in our government. And these idiots in congress and the White House continue to bankrupt this Republic.

These treasonous fools have got to go this November!

It's as if they were in a hurry for some reason.

Why must the global economic system collapse?

Surely, the world leaders know this is what they are doing.

So, if we assume they are at least as well informed as the rest of us potentially are, we have to accept that this is their intention.

Economic suicide. But why? It can't be a simple as - "To install the new currency (Amero?)" because they needn't destroy the economy to do that. What possible purpose could the economic destitution of the civilized world serve?


(Did anyone hear of the allegation that the Chinese reportedly receive 800 billion in Ameros from the US? - tell me that didn't happen - because then I can see a greater potential benefit to destroying the US dollar.)