Senate passes stimulus package...

[NYDisGuy]

I don't own a house, I refused to put myself in hock so that all I could do was pray I could pay my mortage every month.

I trust people with their money much more than I trust my governement with it, I see how they continue to waste it daily.

As for the banks, well how stupid were they for loaning money to people that couldn't afford it. That house of cards was bound to fail.

Sorry, this is a two way street. You think people had 0% down mortgages forced down their throats? Best buy selling a $5000 TV to a dorm student doesnt make Best Buy the bad guy. Its the dorm student spending out of their means because they were never tought the bad things about credit. Do you know how many junior high kids have credit cards now? Who is to blame for that, must be Visa!

 

[Cindy F]

I'm sure there is a good reason why Obama, congress, the senate, etc decided to rely on "expert economists" instead of just going to a chat board.

 

[DisneyBamaFan]

I agree, WWII ended the Depression, but because of massive government spending. In tough times, government spending works when nothing else does.

Actually, WWII worked for a few reasons other than government spending. American families pulled together and conserved like never before. Belts that were already tight were cinched in another notch or two so families with no means of support could be cared for while their husbands and fathers went off to war.

Both of my grandfathers/grandmothers spoke a great deal about those times. They really represent that best that America had to offer.

One more thing - when we were at war, almost every cent spent by the government was spent on American goods produced by American labor...

 

[Master Mason]

Sorry, this is a two way street. You think people had 0% down mortgages forced down their throats? Best buy selling a $5000 TV to a dorm student doesnt make Best Buy the bad guy. Its the dorm student spending out of their means because they were never tought the bad things about credit. Do you know how many junior high kids have credit cards now? Who is to blame for that, must be Visa!

If best buy loans money to someone that can not afford to repay it, then they are stupid and deserve to go out of business for their supidity.

As for the JH kids, that would be the parents fault, since someone under 18 can not enter into a contract.

 

[wvjules]

I'm sure there is a good reason why Obama, congress, the senate, etc decided to rely on "expert economists" instead of just going to a chat board.

So any economist that disagrees isn't an expert?

 

[MeghansMommy]

I'm sure there is a good reason why Obama, congress, the senate, etc decided to rely on "expert economists" instead of just going to a chat board.

LOL!! But WE are the DIS! We know everything!

 

[bsjs0708]

 

[nedac]

FYI Obama supporters; its really ok to admit your man missed the mark with this "stimulus" package. You can still support the man and not support this pork project at the same time.

That's right. Look at the bright side, he's handsome, young, half-black and is a good BSer. That counts for something right? It could have been worse, you could have voted for the old, ugly white guy who was more qualified.

 

[mirmartinez]

Sorry, this is a two way street. You think people had 0% down mortgages forced down their throats? Best buy selling a $5000 TV to a dorm student doesnt make Best Buy the bad guy. Its the dorm student spending out of their means because they were never tought the bad things about credit. Do you know how many junior high kids have credit cards now? Who is to blame for that, must be Visa!

I think both parties are at fault. The lender should verify income.

 

[DebbieB]

In case everyone missed it, our hero is pulling out of Iraq...

And, our economy did flourish during the Iraq war. Historical highs on wall street and very low unemployment. Did everyone forget already? Oh, wait... everyone was too busy looking for something to blame on Bush, thats right.

I thought the war was still going on and I don't recall those historic highs when Bush left office three weeks ago..........

The war was going on loooong before 3 weeks ago.

October 9, 2007 - Dow Jones closes at 14,164.53, you forgot? That was not that long ago.

You said the economy flourished during the war. The war is still going on and the economy is not flourishing. The 3 weeks referred to when Bush left office. The economy has not fallen apart in the past 3 weeks, it was loooong before that.

 

[SteveInBrooklyn]

Actually, WWII worked for a few reasons other than government spending. American families pulled together and conserved like never before. Belts that were already tight were cinched in another notch or two so families with no means of support could be cared for while their husbands and fathers went off to war.

Both of my grandfathers/grandmothers spoke a great deal about those times. They really represent that best that America had to offer.

One more thing - when we were at war, almost every cent spent by the government was spent on American goods produced by American labor...

Those things decrease GDP. Government spending on (as you pointed out) goods and services produced in America increase GDP. It worked in the 40's, it'll work now. It's simple math.

 

[eliza61]

I'm not crazy about a TRILLION dollar trial and error program. We don't have the first trillion dollars; where do you propose we come with additional trillion dollars?

FYI Obama supporters; its really ok to admit your man missed the mark with this "stimulus" package. You can still support the man and not support this pork project at the same time.

thanks WVJules,

I've never been a fan of bailouts. So I'm taking a cautiously optimistic view. I'm glad that the President is recognizing that we have serious problems, I am impressed that he is attempting solutions, I'm not crazy about some of them but it beats sticking our heads in the sand and doing nothing. Which seems to be the popular approach in congress.

Sure he missed the mark but he aimed and that is more than can be said of the last 3 administrations, like he said last night "Don't come to me criticizing when for the last 15 years we have done zippo but create these problems"

 

[NYDisGuy]

If best buy loans money to someone that can not afford to repay it, then they are stupid and deserve to go out of business for their supidity.

As for the JH kids, that would be the parents fault, since someone under 18 can not enter into a contract.

I agree with you, however it's the responsibilites of both parties once you enter into that contract, not just Best Buy, Capital One etc. You are agreeing to pay back the loan that is given to you, but people weren't because they thought credit was Publishers Clearing House and it was all for the taking. Until they realized taxes and interest were included, that's when the default train began.

 

[nedac]

Sorry, this is a two way street. You think people had 0% down mortgages forced down their throats? Best buy selling a $5000 TV to a dorm student doesnt make Best Buy the bad guy. Its the dorm student spending out of their means because they were never tought the bad things about credit. Do you know how many junior high kids have credit cards now? Who is to blame for that, must be Visa!

Both are to blame....

If you can't eat because you have a $5000 TV, good, starve while you watch TV. Not my problem. If Visa and Best Buy want to hand out credit without limits, then they should expect to lose money. I should not be expected to bail out either.

 

[NYDisGuy]

Doubtful...

Not sure if you have ever gone out and gotten a home loan, but you just get one because you want one. You have to be approved by a lender (you know, Fannie Mae and Freddie Mac). It seems as though our government persuaded these lending institutions to hand out money to any and everyone because people were being "discriminated" against. So, answering the governments "social" cause and no doubt, out of greed as well, loans were made to people who could not afford them. Even stupid Bill Clinton knew that was a bad idea.

Next someone is going to try to convince me that handing out money to domestic automakers who can't manage their money was a good idea too.

You have no proof of your claim. Your just throwing out another conspiracy theroy about the Government. I love how people are never to blame in these situations, it was the advertisment's fault I overspent!

 

[NYDisGuy]

Both are to blame....

If you can't eat because you have a $5000 TV, good, starve while you watch TV. Not my problem. If Visa and Best Buy want to hand out credit without limits, then they should expect to lose money. I should not be expected to bail out either.

That was my point all along.

 

[nedac]

You said the economy flourished during the war. The war is still going on and the economy is not flourishing. The 3 weeks referred to when Bush left office. The economy has not fallen apart in the past 3 weeks, it was loooong before that.

10/9/2007 was barely over a year ago.

 

[Cindy F]

So any economist that disagrees isn't an expert?

http://en.wikipedia.org/wiki/Straw_man

Are you an economist? I find it appallingly ignorant for anyone to think that no other avenues were discussed or investigated or that there are things we do not understand and/or know about for whatever reason.

I did not agree with many initiatives of past presidents but I also understood that they had access to more (and better quality) information than I did.

 

[eliza61]

If best buy loans money to someone that can not afford to repay it, then they are stupid and deserve to go out of business for their supidity.

As for the JH kids, that would be the parents fault, since someone under 18 can not enter into a contract.

MM,
I am laughing because last November I took my 17 year old Ds to an open house at Marshall University in WV. Two weeks later American Express sent him a pre approved green card. I called AE to explain to them that this was a minor with NO JOB. You know what they told me, he was approved on his 'EARNING POTENTIAL". I literally started screaming in laughter. what earning potential, the boy hasn't even gotten accepted into a college yet.

I politely told them he was still a minor and please remove him from their mailing list. I also told her I would write a letter to the CEO because any company with such an idiotic policy deserves to be fleeced.

 

[MeghansMommy]

MM,
I am laughing because last November I took my 17 year old Ds to an open house at Marshall University in WV. Two weeks later American Express sent him a pre approved green card. I called AE to explain to them that this was a minor with NO JOB. You know what they told me, he was approved on his 'EARNING POTENTIAL". I literally started screaming in laughter. what earning potential, the boy hasn't even gotten accepted into a college yet.

I politely told them he was still a minor and please remove him from their mailing list. I also told her I would write a letter to the CEO because any company with such an idiotic policy deserves to be fleeced.

You and your son are responsible people. Can you imagine the number of people who would have said, "Cool beans!" and went out shopping with that card?