How much will the stimulus bill cost??

[manning]

The CBO estimates around three trillion dollars. That's with a T

 

[AlexTina]

This is completely insane!! I wish Obama would grow a brain and veto this thing today and just put it on hold until they can come up with something that might actually work, and I know someone is going to post the common "well what's your idea then?" so here goes.

If I we're a powerful person in Washington I would suggest that all spending be suspended. If it doesn't directly affect the lives of people like food stamps or the safety of the public like infastructure then cut it and I mean all of it. Get the economy back on track and then when we've got it under control go back and re-evaluate all programs that have been cut. We need to get down to bare bones and spend only on things that will affect us directly right now. What exacly would I cut I don't really know but I'm sure that there is a ton of spending that is not going to affect anyone if it is cut right now.

Tina

 

[Christopher Robin]

It will cost us alot more than money.

 

[Geoff_M]

Well, at least the Porkulus bill seems to have had a big impact on Wall Street! Oh, wait... nevermind.

 

[DawnCt1]

Once it is signed, the debt will exceed the GDP of the entire world.

 

[JMD]

This spending bill is going to be a disaster.

 

[vt_disney_fan]

$36k for every man, woman and child in the US. I have a family of 6, so that's $216k of debt for my family alone.

Here's an idea - give that $216k to me. I'll stimulate the economy with it. Heck, I'll probably end up giving it to the bank anyway - BUT THEN I'LL OWN MY HOUSE!!!

Instead, what will I get? Nothing that's worth $216k, that's for sure.

Another fine plan.

 

[djm99]

 

[AndyLL]

The CBO estimates around three trillion dollars. That's with a T

Link?

I would guess you are including all future estimates of interest payments.

Have you done that for any other spending bills? For example... what is the total cost of the Iraq war including the debt servicing? 5-10 trillion?

The CBO estimates only included the guaranteed spending. They have this statement:

CBO anticipates that implementation of H.R. 1 would have a noticeable impact on economic growth and employment in the next few years. Following longstanding Congressional budget procedures, however, this estimate does not address the potential budgetary effects of such changes in the economic outlook.​

Much of the bill was tax cuts totaling 419 Billion of lost revenue by 2019.

Bush had 2 tax cuts:

EXTENDING THE PRESIDENT’S TAX CUTS AND AMT RELIEF WOULD COST $4.4 TRILLION THROUGH 2018:
http://www.cbpp.org/1-31-07tax.htm
​

I believe you have been in favor of extending the tax cuts?

You republicans are so amusing with posts like this. The time to be screaming about fiscal irresponsibility was 6-8 years ago when surpluses turned into deficits.

 

[Olaf]

$36k for every man, woman and child in the US. I have a family of 6, so that's $216k of debt for my family alone.

If you're one of the producers in this country, those that make enough money to pay federal income tax, it will actually cost you a lot more. That's because a good portion of people in this country pay no federal income tax, so the share that those who actually pay the tax will be much greater.

The whole thing is just disgusting beyond belief. I truly wish they'd quit calling it a stimulus bill and call it what is--Big Fat Democratic Pork.

 

[3DisneyBuggs]

I have a feeling we are doomed no matter what stimulus is passed.

 

[PeterPan09]

Link?

I would guess you are including all future estimates of interest payments.

Have you done that for any other spending bills? For example... what is the total cost of the Iraq war including the debt servicing? 5-10 trillion?

The CBO estimates only included the guaranteed spending. They have this statement:

CBO anticipates that implementation of H.R. 1 would have a noticeable impact on economic growth and employment in the next few years. Following longstanding Congressional budget procedures, however, this estimate does not address the potential budgetary effects of such changes in the economic outlook.​

Much of the bill was tax cuts totaling 419 Billion of lost revenue by 2019.

Bush had 2 tax cuts:

EXTENDING THE PRESIDENT’S TAX CUTS AND AMT RELIEF WOULD COST $4.4 TRILLION THROUGH 2018:
http://www.cbpp.org/1-31-07tax.htm
​

I believe you have been in favor of extending the tax cuts?

You republicans are so amusing with posts like this. The time to be screaming about fiscal irresponsibility was 6-8 years ago when surpluses turned into deficits.

Yeah, the people that were so wrong for the last 8 years actually expect anyone to listen to them now. Sorry folks, your credibility is in the toilet.

 

[SteveInBrooklyn]

Once it is signed, the debt will exceed the GDP of the entire world.

That can't be right, can it?

 

[vt_disney_fan]

You republicans are so amusing with posts like this. The time to be screaming about fiscal irresponsibility was 6-8 years ago when surpluses turned into deficits.

Hey genius, I had more money in my pocket, WITH those tax cuts, than I did without, so at least I was better off financially WITH them than without them. Deficit aside, my OWN finances were (and are) better.

You democrats are so amusing b/c... you just are.

 

[Muushka]

The CBO estimates around three trillion dollars. That's with a T

That is why I edited my signature. I think these numbers are thrown around and people don't realize how much $$ a trillion dollars is.

 

[Geoff_M]

More of the "Big Lie" from Obama.... to oppose the "Porkulus" bill means you want to do nothing and let the "free market" fix it. There were a grand total of three GOP Senators that endorsed that notion.

 

[djm99]

That can't be right, can it?

No its not right. It is worth spending 1 minute to verify whether the claims are even correct. Infact it took me longer to type this post than verify the correctness of this article !

Google search "world gdp", and it seems to be in the range of $78T (note that the US is about $14T)
http://en.wikipedia.org/wiki/List_of_countries_by_GDP_(nominal)

Google search "US national debt" and it seems to be in the range of $10T (note that our total debt is less than one year of GDP)http://en.wikipedia.org/wiki/United_States_public_debt

These figures are for slightly different years, but are close enough to show that the claim is clearly wrong.

Personally, I am sick of the doom and gloom articles. I know I will get flamed for this, but the United States is an amazing place. We've had hard times in the past and we're having them now in the present. But this country is very adaptable and we will prevail and move on into the future. No, the world won't end. Sure, there will be some hardships and some major changes, but we as a nation will continue to grow, expand and yes, prosper.

The world will go on with or without this stimulus. There may be some drastic changes, but we're a strong culture with some of the most intelligent and inventive people.

Don't let these Rush republicans with near-sighted vision sell you out. We will survive.

 

[manning]

Link?

I would guess you are including all future estimates of interest payments.

Have you done that for any other spending bills? For example... what is the total cost of the Iraq war including the debt servicing? 5-10 trillion?

The CBO estimates only included the guaranteed spending. They have this statement:

CBO anticipates that implementation of H.R. 1 would have a noticeable impact on economic growth and employment in the next few years. Following longstanding Congressional budget procedures, however, this estimate does not address the potential budgetary effects of such changes in the economic outlook.​

Much of the bill was tax cuts totaling 419 Billion of lost revenue by 2019.

Bush had 2 tax cuts:

EXTENDING THE PRESIDENT’S TAX CUTS AND AMT RELIEF WOULD COST $4.4 TRILLION THROUGH 2018:
http://www.cbpp.org/1-31-07tax.htm
​

I believe you have been in favor of extending the tax cuts?

You republicans are so amusing with posts like this. The time to be screaming about fiscal irresponsibility was 6-8 years ago when surpluses turned into deficits.

http://www.cbo.gov/ftpdocs/99xx/doc9988/hr1extendProvisionsRyanLtr.pdf

http://blog.heritage.org/2009/02/12/true-cost-of-stimulus-327-trillion/

You republicans are so amusing with posts like this. The time to be screaming about fiscal irresponsibility was 6-8 years ago when surpluses turned into deficits.

The last two years the democrats were in charge. So what did they do???

 

[SteveInBrooklyn]

No its not right. It is worth spending 1 minute to verify whether the claims are even correct. Infact it took me longer to type this post than verify the correctness of this article !

Google search "world gdp", and it seems to be in the range of $78T (note that the US is about $14T)
http://en.wikipedia.org/wiki/List_of_countries_by_GDP_(nominal)

Google search "US national debt" and it seems to be in the range of $10T (note that our total debt is less than one year of GDP)http://en.wikipedia.org/wiki/United_States_public_debt

These figures are for slightly different years, but are close enough to show that the claim is clearly wrong.

Personally, I am sick of the doom and gloom articles. I know I will get flamed for this, but the United States is an amazing place. We've had hard times in the past and we're having them now in the present. But this country is very adaptable and we will prevail and move on into the future. No, the world won't end. Sure, there will be some hardships and some major changes, but we as a nation will continue to grow, expand and yes, prosper.

The world will go on with or without this stimulus. There may be some drastic changes, but we're a strong culture with some of the most intelligent and inventive people.

Don't let these Rush republicans with near-sighted vision sell you out. We will survive.

Thanks.

I get the feeling that some people HOPE that the stimulus fails. They care more about their ideology than they care about their own country. It's sad, really.

 

[wvjules]

Thanks.

I get the feeling that some people HOPE that the stimulus fails. They care more about their ideology than they care about their own country. It's sad, really.

People hope the stimulus fails because they care about their country.