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Do You Think the Stimulus Will Help the Economy?

Americans have some pretty low expectations these days. In a new poll only 38 percent of voters said they believe the $787 billion stimulus plan will help the economy.

Middle-income Americans are more likely to think the package will hurt the economy more than help it; while low and upper income individuals are more optimistic. Those making below $40,000 or above $100,000 are more likely to think it will help the economy.

What do you think of the stimulus bill?

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divinedebris divinedebris 7 years
If by help you mean push our country further into dept and make this recession last longer, then yes. Making things worse is always the easy way out. ha.
liliblu liliblu 7 years
"As if deliberately setting out to make Obama look naive, Senate Majority Leader Harry Reid secured, at the last minute, $8 billion for high-speed rail, with an eye to building a magnetic-levitation line that he supports between Las Vegas and Los Angeles." Hainan those funds have not been allocated to any one project. Florida and Texas are just two of the other states that could receive funds. Bush allocated funds for an environmental impact study of the Vegas to LA project.
genesisrocks genesisrocks 7 years
Honestly it's better than doing the same things that got us into this mess, but I'm not an economist. I promise nothing. Protecting unemployment's good because *theoretically* they'll keep spending money and putting it out there which will create a higher demand for products which will create more jobs. (I hope) Not much change coming fast. It will be a long process and only time will tell.
genesisrocks genesisrocks 7 years
Where is the option "we'll see"?
StolzeMama StolzeMama 7 years
And I think this so called stimulus is actually pretty bad. About as bad as it could get, really. I mean what would be worse, a trillion dollars? 2 trillion?
StolzeMama StolzeMama 7 years
If our economy still down spirals after this spending of $800 billion not including the interest, then I will be pissed.
margokhal margokhal 7 years
[I've been away for some time, class and other things to catch up with!] Carrie Sue - I'm not sure which time period you're talking about - did you mean that you started writing the lawmakers before the stimulus package [in its first version] was released or during the course of the "negotiations" that make up the final package? kranky - thanks for the link! Some of the things he's suggesting I don't really understand, to tell the truth [I'll have to do more research], but I was kind of turned off by the cancer cure analogy. It's not like what's happening now is a static condition that we can manage in some way; it will get worse and eventually consume us if we don't at least attempt to cure it. Maybe this current plan isn't perfect - no plan is - but it's definitely not the worst thing that could have come about. I'll take my chances that this is an unknown positive rather than sticking with the known negative. And even if the stimulus wasn't passed or didn't even exist, what's to say that the economy wouldn't *still* downspiral? I think the main thing after this stimulus is actually implemented [which I've heard may be a year away at least for some projects], make sure that the subsequent results are from the *stimulus*, and not the economy just acting out of its own accord. If things don't get better fast, as impatient as people are - I can see this happening very easily. And I meant the financial corporations and these big-money CEOs that were robbing us blind. Sure, I acknowledge that in the financial sector there were many people who applied for loans that they shouldn't have gotten, but who REALLY came out on top in that situation? Do you fault the fish for taking the bait, or the fisherman who put it out there in the first place? [I'm not suggesting that one is more at fault than the other, it's just a rhetorical question] As for Obama causing this - it hasn't been documented in the media, but in talking with some of the locals in my area [I'm in a slightly liberal-leaning metro city in an otherwise VERY conservative state], it seems that there's still a lot of bitterness about Obama actually winning the election, and their opposition to his stance on some social issues which allow them to blame every single negative thing that happens from now on out [even if the actions started before his term] on him. Which, no matter what side you're on, isn't right. Now I'll shut up and let the conversation continue. :)
StolzeMama StolzeMama 7 years
And my take on what people were saying is that the economy was not as bad as the fear mongering politicians were trying to say it is. That maybe the economy wouldn't tank if they, I don't know. took at least the 5 days Obama promised to read the bill. Im just sayin.
StolzeMama StolzeMama 7 years
I'd buy one CG :P
StolzeMama StolzeMama 7 years
As if deliberately setting out to make Obama look naive, Senate Majority Leader Harry Reid secured, at the last minute, $8 billion for high-speed rail, with an eye to building a magnetic-levitation line that he supports between Las Vegas and Los Angeles. Representatives from Wisconsin and Indiana got a tax break benefiting motorcycle and RV manufacturers in their states. On it went. New York Sen. Chuck Schumer's defense was to say, sure the bill had "porky amendments," but no one really cares about such picayune matters.
CaterpillarGirl CaterpillarGirl 7 years
I am TOTALLY going to make a T-shirt that says "This cost 13 bucks, thanks democrats!" or something along those lines....maybe "I got 13 bucks and the only thing I could buy was this T-shirt" ?
CaterpillarGirl CaterpillarGirl 7 years
I am TOTALLY going to make a T-shirt that says "This cost 13 bucks, thanks democrats!" or something along those lines....maybe "I got 13 bucks and the only thing I could buy was this T-shirt" ?
liliblu liliblu 7 years
Macy's is cutting 7,000 jobs. They announced it this month after the 1% jump in retail sales in January.
liliblu liliblu 7 years
Are people really getting excited by a 1% jump in retail sales after 6 months of decline? How much did retailers have to slash their prices to get consumers to buy?
bento-barista bento-barista 7 years
http://readthestimulus.org/
kranky kranky 7 years
"I understand that you guys see it that way. My point was that we have a long way to go, I'm not going to get ahead of myself here. Things are as cut and dry as they seem, there are so many factors to consider, some more important than others. I don't know if we have truly hit rock bottom yet, maybe some of you know better than I, but I'm not counting my chickens before they are hatched. Call it me being cautious." I would say that's reasonable, and we do have to agree to disagree to a degree. I took issue with you calling out GS for stating information that was true and supportable.
indielove indielove 7 years
"I *think* GS's original point was that there was improvement just around the time that Obama was presenting the economic situation as stark. To some of us, that comes across as fear-mongering. " I understand that you guys see it that way. My point was that we have a long way to go, I'm not going to get ahead of myself here. Things are as cut and dry as they seem, there are so many factors to consider, some more important than others. I don't know if we have truly hit rock bottom yet, maybe some of you know better than I, but I'm not counting my chickens before they are hatched. Call it me being cautious. That is all.
kranky kranky 7 years
Oh, OK. No - I do not believe that anyone here said that things were significantly improving. I *think* GS's original point was that there was improvement just around the time that Obama was presenting the economic situation as stark. To some of us, that comes across as fear-mongering. Holding the opinions that I do, the examples outlined in the article give some idea of how the market can work itself out given the opportunity to do so.
indielove indielove 7 years
"Seriously, if you aren't willing to look at all the facts of the situation, then I do not believe that you have an opinion that is at all well-informed or worthwhile." Aw hell, well gee whizzers...I guess I should bow down and declare my unworthiness because it is so clear that you are by far more brilliant and important than I. Heh.
indielove indielove 7 years
I said it doesn't mean that things are improving, and I meant SIGNIFICANTLY. Just because there's one spark of good(decent, in my opinion) news, it doesn't indicate on the whole that the economy is 'correcting itself'(as everyone around here loves to say) and in no time everything will be hunky-dory again.
kranky kranky 7 years
"It doesn't matter because even if that is true, it doesn't mean that all is well again or even that we're beginning to get back on course." So you deny that you stated this?
kranky kranky 7 years
indie- I really don't think that you are reading the comments closely. No one is disagreeing with you that the economy is slumping. However, it the midst of the slump, things looked marginally better in January... or to put in a different - things looked marginally less slumpy in Janaury. I also pointed out that retailers are cutting jobs to you, so thanks for reciprocating. My point was that some of those retailers are supposedly doing very well financially - which lends to the argument that the economy is in a period of readjustment (notice the departments that Wal-Mart is cutting). My husband works for a large company. They are cutting a lot of jobs in development and construction, but also posting a lot of new jobs in marketing and technology. So yes - that company is laying off people, but it is also hiring people into the sectors that are currently profitable. The company is readjusting things to deal with the shifting economy. Seriously, if you aren't willing to look at all the facts of the situation, then I do not believe that you have an opinion that is at all well-informed or worthwhile.
indielove indielove 7 years
"Do you really have the economic knowledge to say that? It's a pretty big statement, and most of the economists I'm reading these days pretty much admit that they don't know what the hell is going on." Puzzling little statement there. I didn't declare a thing. You're just getting ahead of yourself again...
indielove indielove 7 years
kranky: Your semantics bore me. I guess the data of unemployment being at a 26 year-high means nothing to you. I get it, it's ok. Let's add the 20,000 government jobs that 'The Terminator' is cutting to the the mix. At the end of the article you posted, it talks about several companies who are still slashing jobs. Did you even read the entire article? "Despite the leap last month, retail sales were down 9.7 percent from January 2008, amid the ravages of the recession, thousands of job losses and falling home prices. Many of the nation’s retailers last week reported sales declines for January. The Labor Department said retailers slashed about 45,000 jobs last month as they closed stores and tried to preserve cash while consumers curtailed spending."
hausfrau hausfrau 7 years
The economy has always been, will always be, cyclical. Even if things get better soon there is no way of saying if it wasn't just the market correcting itself.
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