Much of the stimulus spending is just beginning to trickle through the economy, with spending expected to peak sometime later this year or in early 2010. The government has funneled about $60 billion of the $288 billion in promised tax cuts to U.S. households, while about $84 billion of the $499 billion in spending has been paid. About $200 billion has been promised to certain projects, such as infrastructure and energy projects.
Economists say the money out the door -- combined with the expectation of additional funds flowing soon -- is fueling growth above where it would have been without any government action.
Many forecasters say stimulus spending is adding two to three percentage points to economic growth in the second and third quarters, when measured at an annual rate. The impact in the second quarter, calculated by analyzing how the extra funds flowing into the economy boost consumption, investment and spending, helped slow the rate of decline and will lay the groundwork for positive growth in the third quarter -- something that seemed almost implausible just a few months ago. Some economists say the 1% contraction in the second quarter would have been far worse, possibly as much as 3.2%, if not for the stimulus.
For the third quarter, economists at Goldman Sachs & Co. predict the U.S. economy will grow by 3.3%. "Without that extra stimulus, we would be somewhere around zero," said Jan Hatzius, chief U.S. economist for Goldman.
Meanwhile, Dan Savage lays it on the line, as you know I agree:
"When you have a party that claims to speak for God, claims that God is on it's side, the rhetoric heats up and the anger heats up. It's not just a battle of ideas and positions and what's good for America and bad for the country. It's a battle of what God wants and what God doesn't want and you're, and it's easier to demagogue about your enemies and despise and to dehumanize in this really personal and vicious way, and the religious right is fomenting this kind of hatred in this country, and at our peril. I really do think that the Michele Bachmann's of the world and the Glenn Beck's of the world are actively, consciously or subconsciously trying to get, I'm just going to say it, they are trying to get the President killed. That's why they're setting this up as kill or be killed arguments. He's gonna kill you grandma, pull the plug on grandma, death panels children have to go in front of. This kind of rhetoric, this paranoid style on the religious right, from the birchers to the birthers doesn't usually end well, and we, somebody's gotta put the brakes on it, and unfortunately, in the Republican party, there are no adults left in the room, there are only the Michele Bachmann's and the Glenn Beck's and the Rush Limbaugh's running the show."
The President of the United States of America is coming to speak to schoolchildren in Florida, and this broken Republican party we have today is calling for a sick-out. Florida Republican chairman Jim Greer, official statement:
"As the father of four children, I am absolutely appalled that taxpayer dollars are being used to spread President Obama's socialist ideology. The idea that school children across our nation will be forced to watch the President justify his plans for government-run health care, banks, and automobile companies, increasing taxes on those who create jobs, and racking up more debt than any other President, is not only infuriating, but goes against beliefs of the majority of Americans, while bypassing American parents through an invasive abuse of power."
There is some sickness out there in America right now. The fearful and hateful and those who rule with fear, who attempt to spread it.
As always, Nettertainment makes plenty of room for conservatives who aren't relying on those gimmicks, as I believe the President to be somewhat conservative in the sense that he chooses, when possible, to conserve institutions rather than letting them fall, and so far it's working. We'll know more after his first year in office. And I there are reasonable conservatives who aren't so comfortable with today's GOP distractionating:
“There are serious questions that are associated with policy aspects of the health care reform bills that we’re seeing,” said Gail Wilensky, a veteran health care expert who oversaw the federal Medicare and Medicaid programs for the first President George Bush and advised Senator John McCain in his presidential campaign last year.
“And there’s frustration because so much of the discussion is around issues like the death panels and Zeke Emanuel that I think are red herrings at best,” she said, referring to a health care adviser to President Obama whose views on some issues have been misrepresented by opponents.
Dr. Scott Gottlieb, a fellow at the American Enterprise Institute, a conservative research group, is among those making policy-laden arguments against Mr. Obama’s plan that do not lend themselves to easily digestible catch phrases like “death panels” or false but sensational assertions that the elderly will be told to choose euthanasia as a cost-saving measure. But his critique is based on related fears that the plans being discussed would inevitably lead to increased government involvement in personal medical decisions and eventually affect vital services.
That's the ground that the Administration deserves to have to win the argument. Unless you're already 100% convinced, I mean not a shred of doubt, that any healthcare or health insurance reform is unacceptable AND are an Ends-Over-Means adherent, you've got to want a real debate on how to solve the very real problems of our current for-profit-only health insurance system. I actually agree that the President and Congress will need to convince the country that their ultimate reform plan is both worthy and workable.
The stifling of that debate, or of our democratically elected President in making that debate (and I mean by incitement, conscious or unconscious) to violence, is simply a matter to right vs. wrong.
And I say it's up to our mainstream media to admit it.
9 comments:
I would go for a public option if the plan could pay for itself. But that's not going to happen. I'm not sure of any government program to date, that can sustain itself especially on this large of a scale. So wasn't it reported that the Private Insurers take in a 20% profit. Does this mean that Public Health Care is only going to be 20% less? Or like everything else it's going to be massively under-budgeted at first, and we'll have to climb out of a huge hole.
It will seem like it works at first, especially if all Americans (or the rich) start flipping the bill with a necessary increase in taxes. With these increased taxes people will probably start feeling some pressure, and they will let go of their private plans in favor of using the "public option." Thus creating an even bigger burden and requiring an even higher need raising taxes, rinse and repeat, then people will start screaming "WE NEED TO REFORM THE REFORM".
Prove to me that I'm crazy, and this won't happen. Also everyone seems so panicky about this, like there's this dire emergency to fix it. Why is everything the Democrats work on in a state of emergency?
I think no one is not guilty of whipping up their constituents in a frenzy of some sort. By the way I agree with you on the Glenn Beck thing, I think a Buckley quote is good here:
“I won't insult your intelligence by suggesting that you really believe what you just said.”
Sometimes when I do listen to him I feel like he's addressing a Klan rally, and it's a little scary. But... It's well within his right to say it.
(I typed a lot don't feel like re-reading it)
Night Netter :) BTW what happened to lunch? FAIL
BTW, if they want todo any kind of current reform they should keep investigating price fixing. There's no reason for them to be competitive and reduce prices if that's going on. I guarantee that a ridiculously low priced, (and certainly doomed to fail), public option might be all that takes to get the private insurers to check their pricing model and get learner / meaner.
You know what's Wrong Netter? Biting someone's finger off!
Another Buckley quote:
“Liberals claim to want to give a hearing to other views, but then are shocked and offended to discover that there are other views.”
... and then bite them apparently.
Ditto punching them in the nose as the "admitted aggressor", which precipitates finger-biting.
I just got off the phone with CIGNA, in which they admitted they made a mistake -- in their favor of course. And this happens about 50% of the time. People around the world must think we Americans are as dumb as they come. Fighting over health care reform? Arguing to keep the f*cked up, disfunctional system we have now?!?! WTF!!!!
Reports I've heard from people there (this being my area) is that Rice was singled out. "Because he was the smallest and least threatening."
It seemed the reformer was looking to start an altercation. (Hence why he walked across the intersection to get in Rice's face) But way to spin it my friend.
Also just to be truthful, maybe the right is more agressive, because I'll let you know this... the finger biter was lucky it wasn't me.
@slick, some people may be happy with their current Health Care, you ever think of that?
Oh, if only the finger biter chose to fiercely express his staunch patriotism and robustly luxuriate in his 2nd Amendment rights by carrying a firearm instead of just his choppers we all would've been safer, and the crime rate would go down, and we'd all live free or die, and nobody would tread on us.
Or something.
Not to beat a dying horse (and not to worry, death panels will finish it off), but you're more than welcome to keep your health care, MasterFu. That doesn't mean I shouldn't have alternatives, including a public plan, nor does creating more alternatives imply eliminating your current one.
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