Obama proposes 'second stimulus', $50 billion in emergency aid.

www.foxnews.com...

Congressional leaders received a letter from the president asking for almost $50 billion for distribution to state and local governments, saying that increased spending is “urgent and unavoidable,” the Post reported. The money would protect the jobs of teachers, police and firefighters.

Someone please tell me if it's just me, but is this just ridiculous? It is my understanding that we haven't spent the over $700 billion from the previous stimulus.

Some quotes I found from both sides :

Don Stewart, a spokesman for Senate Minority Leader Mitch McConnell (R-Ky.), called the letter full of "contradictions."

"He's calling on Congress to pass a [jobless] bill that will add about $80 billion to the deficit, but then calls for fiscal discipline; he says these measures need to be targeted and temporary, but then calls for extending programs passed in the stimulus more than a year ago," Stewart said in an e-mail.

"While some people say you have to spend and some people say you have to cut, the president wants to talk about both cuts and investing," [Rahm] Emanuel said.

www.washingtonpost.com...

“Democrats are showing either that they just don’t get it on this issue of the debt, or that they just don’t care,” Senate Republican Leader Mitch McConnell said in a reaction to the letter. “You can understand the American people’s skepticism when they’re told that simply adding more government is the solution to government’s previous failures.”

www.luxlibertas.com...

"I think there is spending fatigue," House Majority Leader Steny H. Hoyer (D-Md.) said recently. "It's tough in both houses to get votes."

www.washingtonpost.com...


What also stands out for me is, when reading the Washington Post's article, they say Obama is urging lawmakers to "quickly approve" the bill that will approve the $50 billion. Hey America, worry about the oil spill while we send $50 billion wherever we want without a paper trail!

[edit on 13-6-2010 by TheFinalTruth14]

Originally posted by TheFinalTruth14
Someone please tell me if it's just me, but is this just ridiculous? It is my understanding that we haven't spent the over $700 billion from the previous stimulus.

Umm wow. Where do we even begin? Lets put it this way. You've spent many, many, many times that $700 billion.

The states are broke, most of them are having funding problems, tax receipts don't even begin to cover revenue. There is basically a two speed economy. Wall St and everyone else. Everyone else? Not doing so good.

Obama has been approving a constant stream of bailouts and the debt of the USA is exploding rapidly. Infact some estimates already put it at 130% GDP.

That is just the sovereign debt. If you add in the public and private sector you're up around 397% GDP.

Big depression coming there. Harsh Austerity. Very harsh.

Hey America, worry about the oil spill

I'd be more worried about gas prices. If I were you. But, luckily I'm not.

Been there, done that....massive FAIL.

How about this time we come up with $50 billion in emergency spending cuts?