Cheat Sheet

It was sarcasm rapier, he didn't rip him at all.

Your right Plant! There is nothing he can do but sit back and wait it out. The mechanism is there, it just needs time to work. If he truly wanted to make the economy work he would hand out massive money to tax payers or home owners, something along those lines and let the people stimulate the economy. He won't do that! He would rather stick with his clowns, as you say, and that doesn't bode well for econ0mic health, country wise and individually. He might finally be doing the math!!!!!!
The transition from manufacturing to information has been a bumpy one and it's not over yet. As we settle into global competition we are going to find out we are at a disadvantage with everyone else with cheap labor and Americans want to think they are worth so much more. If we can't be a country of entrepreneurs and info/tech then those who remain uneducated will have to line up to compete with lower pay and benefits. Note that didn't happen with Chrysler and GM. LOL They are going to fail. Might take a while to realize that, just like this time, but it will happen.

Apparently you flunked Econ 101 or you would like most adults recognize that anyone who claimed to have sufficient information to predict the extent of the economic free fall was lying to you. Economic is an inexact science that renders educated guessess which are more often than not inaccurate. Biden told the truth as he usually does. Obama said almost the same thing recently but because the media wasn't looking hard for something they could call a gaffe, it slid right under the radar. Obama consulted the presumed best and brightest economic and financial consultants from the left, right and middle. He settled on the consensus. Krugman et al predicted that a much, much greater amount was necessary to prevent a depression. It will remain a moot point because there is no way in he** that congress would have ever approved anything of that size. Krugman has back off his doom and gloom forecast as the economy began to stablize. Stablize does not mean recover. Most predict that by the fourth quarter of this year the economy will begin a slow process of recovery but unemployment will continue to rise into next year. Grow up. There are no crystal balls, no ecomomic mystics and no magic wands. What are you doing to contribute to improving the economy. Since undoutedly you have multiple advanced degrees in economics to consider yourself qualified to call someone like Orzag a dope?!?, what is your solution other than give all the money to you. By the way, none of the so called experts read the extent of the downfall correctly because it was unreadable until it stopped. It is always that way. Grown people know that.

And now Obama plans to outspend all previous administrations, combined. The stimulus plan seems to be going to hiring czars and other government workers. The "shovel-ready" projects are still on the shelf. What tax cuts?? There were tax rebates this past year, not tax cuts. Don't expect your $250.00 next year. You can probably expect a tax increase. And don't forget inflation that is coming to bite you in your wallet to pay for all this massive spending.

Why does every Obama apologist begin with where was your outrage when Bush..... you can fill in the blank as it encompasses everything Bush ever did. As I recall there was a great deal of outrage when things went too far. Remember when the Congress went Democrat in the 2006 elections? I would also like to know how the last 8 year statment passes as fact when the Dems controlled Congress when they took their seats following the 2006 elections. And they did exactly what again? I cannot believe that there are only Dems and Repubs and they cannot see past a party label to do what is right for the country. We need real leaders, but the system is broken, and if we all keep electing the same fools, we have the country we deserve.

Zero001: That was a line from Heinlein.

xlntcat et al: I am a Repulican that agrees with you. Bush was a moralizing religious right numbskull who spent more time on holidays at the crawford ranch than doing his job.

My blog shows that I called the current FUBAR over three years ago. The current stimulus package will not be enough, even if doubled. It should have been handled during the jobless recovery, which was a symptom of underlying problems. That was entirely under Bush's watch.

For now, Obama is exactly correct. We need to see what the current stimulus does and then act accordingly. It may require spending piles more money. But maybe not (I doubt it).

I am the only Slamlander (tm).

Obama has out done him! Aren't you proud? LOL

slamlander, I shored up my finances and mortgage before things struck, helped my parents and spoke with friends. Economics is not rocket science. The writing was on the wall starting 911. Housing bubble was a no brainer, made money and put it away for this rainy season, good for you if you were on top of it too. I think rather than throwing more money at the problem it is time to let the market play it out but only if banking and health care regs are put into place. He's got the advantage of doing that to make the come back benefit everyone.

Mornin Squig; Hey has anyone ever voiced the theory that Biden meant "free from corruption" when he said "clean"?

Because that's what I think it means in politics, as opposed to "dirty"

morning rapier, how goes it? I don't think that is what old skool was talking about. Chicago politics have never been clean and that is old skool as well.

Allocated means that the funds have been set aside specifically for a certain project in a certain state but the state must furnish necessary documentation to verify that a real project is in the works with a real contractor who will hire real people. The money doesn't go out until the project has met all of the specifications required by a particular state.

Does allocated mean spent? Real question, no sarcasm!

No, it means that it's at the disposal of those who will administer the allocation.

Thanks rapier, I wasn't sure and I didn't get a chance to read about it.

You made my point. Our President wanted more & got less than he wanted but now he says that he wouldn't have changed anything.

I remember another president having incomplete data...and searching for WMDs that may or may not have been there....BHO is searching for a way out of this mess and just digging himself into a deeper hole....

Be specific, give examples. Tell us exactly what you understood and where you got your expertise. So in your infinite wisdom, you understood what no one else on the globe understood. You had access to the books of every financial institution and every corporation in the U S. which is what it would take to have all the data. I'd settle just for your full understanding of AIG and it's global connection to multiple financial institutions, a nightmare that you are surely the only one on the globe truly understands to date.

Obama and his economic guru Orzag predicted that the stimulus would keep unemployment below 8% and by now the US would be adding jobs and we'd back to 7% unemployment. Instead, the US continues to lose jobs and unemployment just hit 9.5%. The stimulus has clearly FAILED to deliver the "millions of jobs" that Obama promised. But rather then face this reality, Obama wants to pretend that the dog ate his homework, i.e. he didn't have all the data. Meanwhile, more honest and competent economists at the CBO using exactly the same data as the BOers have in the White House, correctly predicted the economic downturn and correctly predicated that Obama's massive spending on pork would produce a 2 trillion dollar deficit----a much higher deficit then the dishonest BOers would admit to.

Its time for the White House dishonesty to end.....the BOers still haven't revised their crazy economic prediction that we would be at 7% unemployment now....its time for Obama to come back to the US from his world-girdling apology tours and get to work on the economy instead of making ludicrous excuses for his failure.

So Obama claims he doesn't have all the data AND only 10% of the first stimulus has been spent. So how on earth have people determined we need a second stimulus?

Are you suggesting that the Republicans are turning into Nazis and the Democrats into Communists? Personally I think we're slowly turning into Argentina.