Trader's Blog Contest For March

Posted on by lindsay

"Is The Government's Spending Out Of Control?"

Yes, No... Don't Care? The new administration is tossing around billions of dollars, but are the allocations justified? Do you think that the proposed stimulus package is money worth spending, or do you think that things have gotten out of hand?

Just answer... Yes, No, or Don't Care (specific opinions optional)  to be entered in a drawing for the prize below.

Prize

Winner will receive 3 DVD workshops on Taxes & Trading from our authors in INO TV and a hardback copy of "Trade Your Way To Wealth" by Bill Kraft. If your comment is drawn, your prize will be mailed to you courtesy of INO TV. No shipping, no handling, no catches.

How To Enter:

Comment on this post telling us if you think that the government's spending is out of control. Just write YES or NO, but feel free to voice your opinion... just keep it clean!

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Rules

1. This contest is open until 11:59 PM on March 31st, 2009.

2. No wrong answers, any participation counts as an entry.

3. One entry per email address.

4. Winner will be picked by random integer software.

5. Winner will be contacted on Thursday, April 2nd, 2009 via email.

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Good luck!

259 thoughts on “Trader's Blog Contest For March”

  1. Don't really know will tell you when all is said and done if our govt did the right thing. Too bad we cannot get our two partys on same page but that is what made this country great.

  2. Yes, Was watching the Glen Beck show and had guess on explaining the 30's depression and was pretty familiar in what was going on now and then. Too much govt involvement is bringing us down. Still have faith in America hope our so called experts start moving us back to respectability again.

  3. NO was my comment on March 11 and I shall now elaborate and this is only my opinion not a trade or investment recommendation. The velocity of money is going to increase as a result of an increasing money supply. The length of a human life necessitates the need to increase the velocity of money. Trillions of dollars seem like a large sum and yes a a fellow trader commented above that it would take greater than a human life to count, which is precisely why we need more and faster. The USD is currently the world's reserve currency and because of the large pallets of large denominations stacked in consecutive serial number sequence around the world it will remain capable of payments of debts past, present and future. Fear and greed have conspired together simultaneously to hold the VIX moderate and markets in a range which is indicative of dollar hoarding as traders pray for any sign that will just make sense. The human condition is such that in order for continued improvement an infinite money supply is necessary for finite life.

  4. YES
    To solve the financial crisis I propose to give all working people over the age of 55 a million dollars each to retire from the workforce that would free up 40 million jobs according to the labor department,
    unemployment solved.
    Next I would tell the retiree's they had to buy a new american car, that would solve the auto makers problem.
    Next I would tell the retiree's they had to buy or pay off a home, solved the housing problem and the bank mortgage problem.
    Next I would tell the retiree's they would not be collecting social security and that would solve the future social security problem.
    All in all 40 million looks a lot less than 1.3 trillion.
    Jimmy

    1. Jimmy Higgins I love your logic simple and straight to the point and in a limited sense of USA only it could work very well. It gets a bit dicey when overlain globally since that's really where the greater amount of a world reserve currency resides.

  5. YES.

    "Generational theft" places an untold burden on the future without regard. Personal responsibility has been thrown to the wind by a socialistic mentality that is destined to fail.

  6. Yes. Most people probably don't have any idea of the enormity of the ever-growing stimulus/bailout packages passed and being proposed that have now reached $3 trillion. Just how much is this $3 trillion already spent or allocated? It is:

    - $150,000 spent EVERY SECOND for an entire year
    - the amount it would take to buy the entire economy of Germany for this year
    - the amount it would take to buy the entire economy of Canada and Mexico combined for this year and still have money left over
    - as much money as the 10 largest government and private international lenders COMBINED loaned out last year

    If that $3 trillion were amortized like a conventional mortgage, to be paid back with reasonable interest over a 5 year period, it could buy the entire U.S. Army with all its equipment and supplies every year for those 5 years.

    This enormous amount of money, which the Obama administration and Democratic Congress show every sign of being added to, can NEVER be funded through taxes and normal financial channels. It's just way beyond any earthly ability to fund.

    The only place this amount of "money" can come from is the Federal printing presses, which already are churning out masses of green paper without limit or end in sight.

    Ask ANY economist, of whatever school of economics you choose, what the consequences sooner or later MUST be of so much "money" being injected into the economy and they will answer unanimously: massive inflation. Get ready for it, my friends, because it's inevitable.

  7. YES!!!
    Greed by the mortgage companies, political correctness by Congress in thinking that everyone deserves a home, wall street assisting in the creation of toxic assets, but probably the most at fault is the Federal Reserve for allowing this to go on and develop over years to become an global economic "Super Storm".

  8. Yes,
    All working class citizens should be voting on all spending by our government. If you don't pay taxes you don't vote no exceptions.

  10. YES!
    Selfish, Narcissistic SOB's seeking airtime and reelection.
    Same motives as Don Corleone...to get what we want,
    "We give the people what they want!"

  13. No- It is not the amount being spent, it is what it it is being spent on.
    AIG should have been broken down and then financed.(thrown a green life preserver shaped like a dollar)

  14. YES.

    However, right or wrong I would rather see an administration who "recognized" how bad the situation was, "formulated a cure" at the nick of time and had the courage to spend the money within the confines of this country in an effort to revive the dying economy (than spend it somewhere else)at the "first few weeks" in office which is absolutely not an easy task, my friends.

    Nevertheless, it was done with boldness by determining the "approximate" level of necessity. The target is clear. That is the most important thing. The accuracy of hitting the target at the bull's eye is another story. Hitting part of the target will at least ignite a cure sooner or later.

    Bottom line, I believe this administration will be successful and will further formulate new standards. I see hard work in spite of all criticisms roaming around. What counts for me is at least "take baby steps to recovery" than see everything melt down.

  15. The government is out of control. My business is about ruined by the speeches Obama has made. Almost all of my customers are afraid to spend money and I have had to lay off all of my workers. This is a disaster and a takeover of the countries industries for a few.

  17. Yes.
    The more the feds mess with the system - the more I fear the final outcome.
    I believe the market can "fix" it's own problem regardless of what the feds do. The thing is if the feds get desperate (I think they are now) they will try some real boners and of course it will not be their fault. (they inherited this you know)
    I pray that they stop meddling after the latest big mistake and let the markets do their job. Only the market can fix the market.

    http://www.ravenforex.com

  19. yes no supprise then, they know little about how the sytem work and will stert tinkering and make it worse

  20. YES YES YES .....I realize its all part and parcel ....yet with some of the bigger problems you face as a nation,and we all face as a planet in mass crisis,all this seems truly insane.TRILLIONS! How about you make sure every single person in your great country goes to bed at night without an empty stomach,knowing how to read and not fearing how to deal with any medical problems they or thier family may face. PRIORITIES? RESPONSIBILITIES?ACCOUNTABILITY?Can this truly be to much to ask?

  21. Heck Yes!
    Our gov. is totally out of control. This new irresponsible power of the Democrats is going to bury the financial markets. Oops! Sorry, meant buried the financal markets.

  24. yes, just waiting for any figs to show improvement so they can say the spending policy has worked, lol

  27. Yes.

    We the people have been conned. There really is no stimulus to speak of when over 75% of the "package": won't reach its target for over 12-18 months from now. And when it does, it will be too late. Also, inflation by that time will have cut in half the value of the "package": to the market.

    The masses (us) are being led by figures in Washington who are out of touch and as selfishly motivated as Bernie Madoff himself and about as ethical.

  31. Yes, the US govt is only delaying the inevitable consequences of an economy which for so many years was credit driven. The American people will have to learn the hard way and alongwith that the whole world will suffer because when America sneezes the world catches a cold.

  32. Yes if only from the point that they have no idea which black hole they are puting the money in. They now are reacting to please the public who probably dont realise they have a massive bill coming down the road.

  34. Yes. Too much government intervention in the free market should lead to long term pains.

  36. yes, though the reference to billions was months ago, reference should be trillions. Do you know how long it would take to count to a trillion by ones? @ 24/7/365 it would take approx. 317 lifetimes (if each lifetime was 100 years in duration....), now THAT's putting a trillion into perspective.

  38. Yes, spending is out of control. The pork barrel projects should be printed in newspapers,the congessmen who received campaign contribution from these greedy financial institutions should be recalled, the taxes on small businesses should be lowered, and anyone who receives a welfare check should have to submit to a urine test periodiodically. Giving the government control of our medical system will be the same as the service you receive at the BMV.

  39. Yes. Politicians are using the economy as the straw man for the biggest government takeover in US history.

  41. Spending is out of control. "That government which robs Peter to pay Paul, can always count on Paul's support."

  42. Yes, they do not understand the overall magitude of their actions, and just keep flooding the banking system without know if their actions worked or where the money was spent (USA or International)!!!!!!!!

    They need to stop and evaluate their actions and current end results.

  43. yes. It seems like Pres. Obama and staff has no limits on how much to spend, while at the same time preaching hope and a new way of doing things.

  44. Most Americans can't wait that long! I find it so funny that those who say let capitalism work it out, it will eventually. Unfortunately for many Americans they can't wait that long. Secondly, everyday that passes an American families life becomes worse and consumer spending will continue to tank. I don't care what the market does and likes or dislikes about Obama's plan. If Americans start working and spending again companies will start reporting profits, unemployment numbers will start to decrease and this will spark investing in those profitable companies no matter what the policies are. What the biggest mistake is you want to pay down debt in a hurry they should be tacking on 5 cents per gal on gas while prices are beat down. Sure it hurts spending a little but we currently deal w/swings anyway and the debt is going to hurt more eventually. It is fair to me and most Americans. It doesn't discriminate, if you don't like it don't drive. Now it looks as though oil may jump again so it may be too late. Imagine a month of a 5 cent gas tax what would that do for this debt? I like it better than taxing salaries I think that hurts more than anything.

  45. Yes.
    One can understand that the government feels compelled to simply do something but as some have already said, and I do agree with them that some corporations should actually be allowed to fail. That could be used to set the preceedence for new and better controls.

  53. Yes. No matter how much politicians want to keep big business from going under because doing so might cripple the economy further, a free market system will correct itself in the long run. Corporate officials that make poor decisions or take unnecessary risks will be punished (their options will be put out-of-the-money and they may lose their jobs/careers) by the capital markets. A free market system is the only way to ensure strong and efficient competition in any market, wheter it be the capital markets or the job markets.

  57. No, not at all.

    I seem to be in a small minority, so I ask all of the "NO" responses a simple question: "how much of the budget have you read?" and
    "specifically, which part of that budget is 'out of control?'"

    I would argue that "Out of control" suggests something quite other than what is going on. The budget submitted by the administration reflects the issues that Obama campaigned on and was elected to do. So, to some extent, this is what the people wanted.

    Are the deficits enormous? They're staggering. How much deficit was inherited? $1.3 Trillion. Staggering.

    Since the Obama administration has decided to open up the budgeting process (perhaps re-open is the better term, but it's been a long time) I would recommend you read the budget and tell your member of congress which parts, specifically, you disagree with.

    Please enjoy. http://www.whitehouse.gov/omb/assets/fy2010_new_era/A_New_Era_of_Responsibility2.pdf

  58. Yes. We have become a Government of the Politicians,By the Politicians , and FOR THE POLITICIANS. They are the best that money can buy. They are out of control, and will do very well, but I don't know about the rest of us

  60. Yes, in combination with the rest of world severe inflation is on the horizon.

  63. Yes absolutely - we are in a new era and denial is no way forward - the Japanese were (are perhaps still are) very good at sticking their heads in the sand when things go wrong - drastic mistakes call for drastic measures, otherwise there is no way forward, no hope...these enormous mistakes will hopefully teach us lessons, though we all know that another bubble will emerge at some point in the future, the US and Western world have caused this mess, but let's never say it's too late to fix it - small amounts of money would be money thrown away - it's time for pulling out the stops BIG time and President Obama knows this, so we must have faith and repair the damage...it can and will be done!

  64. YES,
    I do not believe we can spend our way out of this mess.
    I think it will just postpone the inevitable.
    I think that greed is out of control and we are enabling
    those responsible on the backs of the people.

  67. Something has to be done. I LOVE to see the comments by those who are attributing this mess to the Democrats and the Obama administration. Have we forgotten how we got here? If the present course of action is incorrect, then what would you suggest? Letting the bottom fall out? Watching anarchy take over the biggest of cities as people finally get tired of being hungry after the soup kitchens finally go broke as well? Be critical, but at least propose an answer. I would probably not have the b### to take the extreme steps that they have taken. God knows that the outgoing party didn't. NO, they are not overspending. Ask the people whose jobs are being saved. They might agree with me.

  70. YES
    We are currently witnessing a worldwide economic meltdown which is a direct and orchestrated result of establishing the Federal Reserve Bank (a private bank) in 1913 and the resulting fiat currency and fractional banking system. By going off the gold standard, our criminal politicians have violated their oaths to the U. S. Constitution (if we still regard it as the law of the land) which, in Article 1, Section 10 states, in part: "No state shall ... make anything but gold and silver coin a tender in payment of debts ..." Constitutionally, the Federal Reserve Bank is not authorized to create or make "money", regardless of the Federal Reserve Act. Congress is not authorized to amend the Constitution by legislation. No fiat currency in the history of the world has ever resulted in anything but the complete collapse of the affected economy. We are now asked to go further into debt in order to give money to the perpetrators of our current problems -- the banks! It's not unlike our government passing laws to "fix" problems caused by the laws they previously passed. In 1828 Andrew Jackson (the first president who was not a founding father) said "if the people only understood the rank injustice in our banking system, there would be revolution before morning."
    We, and especially our politicians, apparently do not learn from history. We've exceeded all the bounds of the previous depression; we've witnessed historic bubbles in stocks, housing and credit and the resulting "correction" will also be historic. If you own stocks, bonds or federal reserve notes, be prepared to watch them all evaporate.
    Who is the most powerful person in the world? Many would say the president of the United States. However, Mayer Amschel Rothschild, Godfather of the Rothschild Banking Cartel of Europe, said "Give me control of a nation's money and I care not who makes the laws." That would make Ben Bernanke the real power broker. The head of a private bank owned by mostly European bankers!
    Be prepared for the great upheaval.

  72. Only time will tell. I'm wondering if the elderly of today, who lived and struggled through the Great Depression, thought they would ever see another depression. There were people who hated FDR for what he did to revive the economy in the 1930s and thought he should lay off and let capitalism take its course. Then there were others who absolutely loved him for what he did. While FDR's programs did revive the US to some extent, it wasn't until WWII and the following years that it could be said that the American economy had turned around. Obama's programs may or may not be a band-aid, but what is it going to take to truly revive the US economy?

    1. Perhaps the best known economist of the last century was Milton Friedman (1912-2006), who authored "Free to Choose."

      Friedman, who in 1976 was awarded the Nobel Memorial Prize in Economic Sciences, wrote, "The Great Depression, like most other periods of severe unemployment, was produced by government mismanagement rather than by any inherent instability of the private economy. ... Roosevelt's policies were very destructive. Roosevelt's policies made the depression longer and worse than it otherwise would have been."

  75. Yes. I still think the stimulus package could work but it will take time. We just don't have patience. Thank your lucky star you're not living in some third world country where government don't have the means or even care and freedom is only a dream.

  76. YES out of control by definition: no one knows what the problem is, so how can this provisional solution be termed "in control?"

  77. YES! Further regulations also required - but this has three parts to it: (1) - MANDATE the regulations; (2) - POLICE the regulations; and
    (3) - ENFORCE the regulations.

  78. Yes! Agree with all those positive comments above - and their concerns of danger ahead! I lived in the 1930's and remember those "wheelbarrows" full of German marks, placed into the kettle stove for heat. Some experts have expressed the opinion that FDR's efforts did not get us out of the Depression, (check 1937). They suggest it was WWII that got us out of the Great Depression, (in hind-sight). Others today point out that ANY government full-time meddling, plus or minus, is not really the answer. (Pour gasoline onto a fire?) Government help for people and their survivability (unemployment Insurance) is the backbone of our FREE and CAPITALIST society. Our "rapid-rise" to danger facing our society well known - done by our people and system! (Fooled the Germans in WWII, and the Japanese were most afraid of wakening the "sleeping giant" - us!) We rose quickly, then! Now the value of the dollar has "improved" recently, (EUR 1.45 vs. 1.25), only because, as we look over at the current Japanese, we BOTH are RELATIVELY in free-fall, even-stephen. Sure this is a global problem. Just don't look down, it is coming! Ingenuity of our people, focusing on needed approaches and structures will possibly afford leadership and direction! Not pork-barrel money, which burns.

  80. YES, and it will get worse before it gets better. Funny money doesn't work for individuals OR government. Unfortunately, the individual impacts one when the government affects ALL!

  82. Comment by Mohammad:

    "...the only thing that we can do is to minimize the recessionary period and incure the least amount of time if proper monetary and fiscal policies are adopted by both the government and Federal Reserve."

    Agreed. The problem is that this spending is not the "proper" policy.

  84. Yes. If government control and spending is so good then communist and socialist countries are business paradises. Are they?

  85. yes! Lets take a different look at what's going on. Think of how perfect the timing is for the obama administration to be in power. It's loaded with old cronies that believe their guidance of, Trust us, be silent, and just follow, is the answer. When their the ones over the years that caused this mess. The GOP did the same thing in the past. Both partys have let political power plays trump what we hired them to do. Our basic problem is our industrial base has peaked sence wwII,and there's world trade, they want what we've had for years, a better life style. And if those nations don't respond, then they have more chaos. So here we are, a world this time, hopelessly in debt, it seems, Capitalism in major trouble. So the only out is for a perfectly timed obama administration, to try to spend our way out of this mess. I don't like it. It's a catch 22. Let socialism gain ground which might work for now? Or let all the insolvent companys go belly up, which is the capitalistic way of doing things, which would create massive unemployment, which could put our country in chaos. What ever we end up within, we still live in a great nation that gets its worth from the strength of it people. Stay strong. All we can do is let obamas ideas play out. We can't reverse the vote. If he's wrong.we'll pick up the pieces and move on. such is life. GOD BLESS AMERICA.

  86. Totally out of control. Let's fire congress and let Jeff Foxworthy's 5th.graders run the show, they could do a much better job than the clowns we have now.

  88. Yes, but how do the productive people stop it. When we get under 5000 on the DOW look guns to go flying off the shelf.

  91. Yes it is, and pointlessly so. Inflating the currency won't solve the problems, just make more. We have an opportunity now to 'clear the decks'. The situation is most unwelcome and has been forced on us, but we should take advantage of a bad situation and use it to clear out the economic debris and streamlline our economy.

  92. NO Rather it will stimulate investment thereby increasing employment and finally there will be an increase in state revenue.however to avoid a situation whereby the banks will implement high rates the government has to follow the STIMULUS policy with regulatory policies.

  94. Don't care! Capitalists had plenty of opportunity to step up to the plate and they didn't! Someone has to do something. The funny thing I find is how those complaining publicly are not out of a job or have a fear of losing theirs? Could it be because they are so wealthy it doesn't matter? Those who didn't want this could have stepped up and stopped the economy from dying. It is their fault Reganomics failed AGAIN! It is time Reganomics gets its just deserving end w/ no return ever!

    1. Thomas Sowell, one of the great free-market economists in our midst today, writes, "Socialism in general has a record of failure so blatant that only an intellectual could ignore or evade it. ... It is amazing that people who think we cannot afford to pay for doctors, hospitals, and medication somehow think that we can afford to pay for doctors, hospitals, medication and a government bureaucracy to administer it. ... The first lesson of economics is scarcity: there is never enough of anything to fully satisfy all of those who want it. The first lesson of politics is to disregard the first lesson of economics. ... The welfare state is not really about the welfare of the masses. It is about the egos of the elites."

      Another, Walter Williams, cuts to the core: "Two-thirds of the federal budget consists of taking property from one American and giving it to another. Were a private person to do the same thing, we'd call it theft. When government does it, we euphemistically call it income redistribution, but that's exactly what thieves do -- redistribute income. Income redistribution not only betrays the founders' vision, it's a sin in the eyes of God. ... No human should be coerced by the state to bear the medical expense, or any other expense, for his fellow man. In other words, the forcible use of one person to serve the purposes of another is morally offensive. ... One of the wonderful things about free markets is that the path to greater wealth comes not from looting, plundering and enslaving one's fellow man, as it has throughout most of human history, but by serving and pleasing him."

  95. Yes! Anyone have a realistic plan to pay for this level of spending without everyone adjusting to an even lower Standard of Living ?

  96. Yes. but it is not money being "spent". It is money being printed.

    Too much of that always leads to inflation. The USA was a net saver until it changed to a net borrower under the republicans from reagan to Bush.
    Clinton reduced the debt but George W. put a stop to that as well as deregulating a lot of stuff and starting some wars...At least Obama says he is aware of that and this is desperate times call for desperate measures.

    Unfortunately when the Brits invented Income Tax it was a temporary war measure... which sort of hung on for ever....

  100. Yes. It will lower the value of the dollar in the long, which is bad for the economy.

  101. Yes. I also believe that it is time We, the People, not only remind ourselves of our rights under the Tenth Amendment, but begin calling for the resignation of the Obama administration, and the so-called leadership of the Democratic party. Let the drumbeats begin!!!

  103. Sorry friends,I'm from Israel,a foreigner and cannot comment,still,if
    you're caught by a tsunamy hipervave,you'd be better down deep under
    it close to sea bed and even then it's not shure you'll remain with
    your very life, good by from the hollyland and lets hope for the best.
    You couldn't have choosen a better man to run America than 100% mr.

    Obama and not 100% mr.Hussein,time will tell, Jay.

  104. Yes ! For proof of this read on:

    Thought you might enjoy this -- "Then And Now"--"I Found The Letter"

    An excellent letter for children who are expecting an inheritance as
    well.
    A Letter From a Grandpa

    Guess you heard that 68% of the youth vote went to Obama.. My granddaughter called this morning to tell me she was one of them. I
    replied with this e-mail:

    Dear Granddaughter,
    The election of Obama comes down to this. Your grandmother and I, your
    mother, and other productive, wage-earning tax payers will have their
    taxes increased and that means less income left over. Less income means
    we will have to cut back on basic purchases, gifts and handouts.

    That includes firing the lady who cleans our house twice a month. She
    just lost her job. We can't afford her anymore.
    What is the economic effect of Obama's election on you personally? Over
    the years, your grandmother and I have given you thousands of dollars in
    food, housing, cash, clothing, gifts, etc. By your vote, you
    have chosen another family over ours for help. So in the future, if you
    need assistance with your rent, money for gas, tires for your car,
    someone to bring you lunch, etc. ... call 202-456-1111 . That's the
    telephone number for the Office of the President of the United States .
    I'm sure Mr. Obama will be happy to send a check from his personal or
    business accounts, as we have, or leave cash in an envelope taped to his
    front door for you, as we have.

    It's like this... Those who vote for the President of the United States
    should consider what the impact of an election will be on the nation as
    a whole and NOT just be concerned with what they can get for themselves
    (Welfare, stimulus checks, etc.). What Obama voters don't seem to
    realize is that the government's money comes from taxes collected from
    tax paying families. Raising taxes on productive people means they will
    have less money to spend on their families.

    Congratulations on your choice. For future reference, you might attempt
    to add up all you've received from us, your mom, Mike's parents and
    others and compare it to what you expect to get over the next four years
    from Mr. Obama.

    To congratulate Mr. Obama and to make sure you're on the list for
    handouts, write to:
    The White House
    1600 Pennsylvania Ave. NW
    Washington , DC 20500

    Love you Honey, but call the number listed above when you need help.
    Granddad

  106. Yes

    I cannot think of too many successes when you can buy your way out of debt.

  108. yes, if yes is wromg , what other smart option have we got accept kicking out those who took our financial sector into thier own destiny and gave the finger to america. since the reaganism policy ( spend spend) came to reality in the 80-90.now we are paying the bill + interest = america land + american conimg new generation. god bless us.

  111. Yes ......... Totally out of control. We need Al Gores hockey stick to measure this one. Aaaaand this is only the beginning.

  113. Yes it is. God help us if we ran our households the way the governments run the country!

  114. NO, first of all we have to remember that this whole mess was created by the previous administration and the obama admistration simply just inherited the whole thing. second of all as an economics major students, i believe that what the goverment is doing is in line with principles of macroeconomics and there for we had to go for stimulus package. the only thing that might seem to be gloomy and we can still cast doubt on it is how this money is going to be spent. if it's going to be spent proportionately and timely it's gonna work out and if otherewise then we might get into more troubles. Besides, many economic intellectuals believe that the money spent- specifically the one in banking system- has to be loaned out properly so that the suffered people can take advantage of and the economic engine jumpstarts quickly. we all know that in a business cycle the downturn and recessions inevitably exist. the only thing that we can do is to minimize the recessionary period and incure the least amount of time if proper monetary and fiscal policies are adopted by both the government and Federal Reserve. and the story continuese...

  116. The current political party is spending and spending and imposing taxes on the wealthy however since the leading Democrats don't pay taxes why should they worry about imposing higher taxes on the rest of us.
    The stimulas bill is a joke, again one item caught my eye and I wondered how can we spend 180 mil (I think that was the number)on a ship used for Ice Breaking when Al Gore the mindless leader of global warming chicken little's says we are going to have a melt down of all ice at both of earth's poles.
    I'm sure there are any number of stupid items that should be questioned but remember the people don't care about a little pork here and there.

  119. Yes. It would be better if these folks didn't look like they made this up the night before their term papers were due. Obama needs to wrest control from Pelossi and her ilk. Strong medicine must be administered. Saving all of these poorly run industries will prolong the agony.

  130. Yes.
    Change is really coming by way of help.
    Wallstreet is to be totally ignored and they minted money and created havoc in the mmainstreet

  132. YES.
    Wall Street is angered by the present administrations spending plan, since the amounts are going to be spent on the mainstreet and the needy.The increase in taxes on the rich and cuts on the poor makes the present spending really going to those who need most.The administration must not heed to the rantings of wall street who spoiled the economy by their bullying tactics

  133. Yes. Bailouts only lead to future bailouts. Enough corporate welfare! Individuals, companies, & the gov't had better wake up and take some responsibility. Enough of the entitlement mentality. It is time for CHANGE. Change in the way we think. Big gov't will only make things worse.

    Yes we can!

  134. YES
    There may be some balance between NO gov't support and what they are doing... but I think they are missing the mark. I do think the whole world economy would be in worse shape if they did not intervene at all. It might have crashed harder, but recovered more quickly - nobody will ever know for sure. Now we will assuredly have inflation, possibly even hyper-inflation and severe devaluation of the dollar. Unclear since the whole world is also going down which supports the strength of the dollar.

  135. No. You've gotta spend money to make money sometimes. Investors and business types should know this better than anyone. The global economy is going through a major restructuring right now. True, the world isn't going to just "end." Markets will right themselves in time, but what will the newly structured market look like for the US? Probably not so good if the government doesn't involve itself. In normal times the usual method for capital acquisition is through credit, but those who usually fill this role are unwilling or incapable of stimulating growth. With no one lending, people losing their jobs and their homes: Who you gonna call to try to establish a bottom on this? Ourselves.

  136. Yes, that's the way our government trys to fix everything. Just pour more money on it.

  137. No, The previous Administration that ran up trillions in debt during the good times sure did though.

  147. Absofreakingluty YES......

    But also keep in mind Obama has engaged in a war against wall street, he keeps trying to separate, and treat WS and MS as two separate entities, that is why our economy will be very slow to recover, until he understands that wall street is part of almost every american now, the stock market will keep on going down the tubes...So, trade only and hold nothing...

  151. Government programs and lack of proper regulation of banking and insurance companies got us into this mess and more money thrown away isn't going to solve it.

  152. THIS PACKAGE IS NEEDED BUT IT WILL NOT BRING BK JOBS THAT THE US CORPS. HAVE TAKEN OVER SEAS AND I DO NOT SEE ANTHING TO HELP OUR INDUSTRIAL COMPLEX.LETS GIVE TAX BREAKS TO THOSE CORPS THAT STAY HOME OR THOSE THAT WANT TO COME HERE!
    BANKS, I CANNOT GET ANY STIMULUS FOR MY PROBLEMS, MY BIZ WILL JUST FAIL IF I DONT FIX IT AND THEY SHOULD TO!!.LAST I HEARD THE BANKS ARE SITTING ON 1.39 TRILLION AND NOT PUTTING OUT TO THE US, AGAIN HURTING THE VERY COUNTRY THEY ARE ASKING FOR HELP FROM. ENOUGH!!!!
    MR. PRES. THEY ARE BLEEDING US DRY

  161. Yes.
    Too much debt, too much consumption and too much spending got us into this mess. Why would anyone think the solution is more debt, more consumption and more spending?

  162. No- Something has to be done, I know too many people out of work. All the greedy people (bankers, consumers, etc) that created this mess are the ones we should be mad at. What a big fat mess.

  163. yes this will be to much and to late within a few years the world will see running inflation

  164. YES. I mean it's outrageous, and insane, new deficits breaking historical records while debt defaults and deleveraging keeps devouring capital. DEBT NEEDS TO BE REPAID. PERIOD.

  166. Yes, out of control & spiked with pork. Do the math. Every $1Trillion the gov spends is $3,500.00 +/- per person. Not $100K. But, if individuals spending borrowed money on overpriced housing got us into the this problem, how does government spending more borrowed money fix it?

  170. Yes. Although, I believe some elements of Obama's combined program will bear fruit. I think we can all rail against spending, but I would be curious to know where Rick was when the Rep's who were in totally in power were running huge deficits & then set up the tarp. Those damn "red" socialists.

  172. This question is like a two edged sword....
    I believe that the government has to spend money to get back the economy rolling. I am totally against the government printing the money and then giving it to the financial institutions that got us in this catastrophic mess.
    The government has to start regulating the market, as it was and still is like the Wild Wild West.
    The banks are taking the money or getting the money at low rates and not lending to consumers and companies; and if they do lend, they do it at very high interest rates.
    These banks are totally insolvent, as they have leveraged at a 100:1, if not more, with monstrous toxic assets, and the list goes on....
    Just look at AIG and the like that ask for billions every couple of months. It is totally ridiculous.
    The government should let them fail and then create new financial institutions, with all this printed money, and start lending to consumers and companies at low rates, to get the economy back on track.
    So therefore I am FOR the stimulus package but in Totally different circumstances...
    As well, I completely FOR the gold standard or something similar...
    As an example, just look at Canadian financial institutions which are viewed amongst the best in the world, due to Canadian banking regulations. Without regulations, the result is what you are witnessing.

  175. No. This is being orchestrated very carefully and under the control of those who wish to CHANGE our government from one that is of the people, by the people and for the people. And they HOPE they can get away with it.

  176. It is insane! I read every day that Obama is dumping more and more of our (the taxpayers who still pay taxes) money into "helping end the liquidity problem."
    If he thinks it will work I would be willing to bet him and his "team" they are wrong.
    Stop Now Please - let the market solve the problem.

  177. No. It is in the absolute control of those who wish to CHANGE our government of, by and for the people. And they HOPE they can get away with it.

  182. Yes! If my math is right, The government could have given every legal working American $100,000.00 each and tell them to go buy or invest American. I know this would have improved the economy more than either stimulus package has and it would have cost less.

  183. Yes
    History is repeating itself(1930's) as IBD"s article " Same Old New Deal" quotes FDR"S Treasury secretary R. Morgenthau in 1939,"We are spending more than we have ever spent before and it does not work. We have just as much unemployment as when we started...and an enormous debt to boot"
    We all have the opportunity to make our voices heard, let's vote out the big spending socialists next year. The Dems approval rating is 9.7%,Republicans 22%............. shouldn't be too difficult 🙂

  184. No, They inherited all these mess, Need to spend and save us from getting deeper

  188. Yes, big time. They are just throwing dats at a board and hoping to hit the right answer.

  189. yes ,just hope they spend it on the best deal they can get price wise through competitve bidding

  190. Yes! The depth of the depression we are in is being extended by our Congress and President! It will get worse before it gets better!

  192. Yes
    Can not spend your way to a recovery .
    A socialist country soon i think

  196. Yes, but like the gas guzzler here comes the money which is being
    guzzled by a grizzly bear and the mutating elephant - Recession.

    Hope is word for everybody but that too seem to be a distant hope.

    Akshay aka Kasi Viswanathan

  197. Absolutely Yes, given the fact is USA is flooding the markets with money and it seems like a small apple for an elephant and this elephant is mutating and spoiling other economies.

    Cant there be a drug remedy or therapy to stop stimulus.

    Akshay aka Kasi Viswanathan
    Chennai,India

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