At & T, Comcast & Verizon want a bail out?
NL-Porn is way more deserving of a bailout. At least when you pay for porn, you can watch porn. My Comcast OnDemand never works, lol.
.jpg)
From Timothy Karr President of the FreePress.net –
President-elect Barack Obama has committed billions of dollars to rebuilding America’s crumbling information infrastructure. It’s a bold part of his economic stimulus plan that will revitalize our economy and our democracy.
But as Obama’s plan moves through Congress, it’s come under siege by phone and cable lobbyists seeking to turn our economic stimulus into their blank check — written out to corporations like AT&T, Comcast and Verizon with no strings attached.
Only a public outcry will ensure that public tax dollars go to serving the public interest.
For more info, and to speak your mind about the issue go to their site
FreePress.net.
The power of myths. Mr Change believes he is FDR. The deficit must be the priority. That is my humble opinion.
Stagnflation anyone?
How do you attack the deficit if the government isn’t bringing in enough revenue?
Stop borrowing and cut spending, Al.
You could do that, but the people who are most vulnerable are going to be affected the most. The only answer to this is to go further into to debt to stimulate the economy and create jobs, which will increase government revenue, a new new deal. The government should buy back some of the bonds it’s issued to give money back to investors. Reagonomics didn’t work in the 80’s, it’s not going to work now.
“The only answer to this is to go further into to debt to stimulate the economy and create jobs, which will increase government revenue, a new new deal.”
That is what I call the power of Myths. FDR in fact might have deepend and prolonged the depression who only ended in WWII. The US back them was a nation of savers and the main exporter of the world, so FDR recipe might have work once the idea of sacrifice entered peoples minds in WWII.
The nation Obama inherits is a huge importer and a huge spender where people does not saves but borrows and borrows. Going into more borrow and spend just will destroy the dollar credibility. Is another version of Bernake “helicopter” and in the end is just like injecting heroin. The pain will go away for a while but in the end your problems will be much worse. Is better to go cold turkey but Obama and the americans who give them a huge mandate do not what to do serious sacrifices.
” The government should buy back some of the bonds it’s issued to give money back to investors.”
In other world the Goverment should keep creating money of thin air and paying out debts with more debts or monoply dollars,
“Reagonomics didn’t work in the 80’s, it’s not going to work now.” Well it worked for a while, now you are seeing the hangover.
The problem is that LBJ/Nixon Great Society programs did not work either. Remember the stagnation/inflation of the Carter years? Obamanomics will bring that again on steroids.
Im very pesimistic about the future of the US dollar.
I’m not an economist, and what you say is possible, however I feel it is a necessary, tough choice. The government doesn’t have enough revenue to balance the budget let alone pay off the deficit. Something needs to be done to create revenue. Cutting spending is not practical. We are fighting two wars and need to keep our defenses sharp for anyone that comes gunning for us during our time of crisis. The United States is the only industrialized nation without universal health care. Almost 50 million people in the U.S. have no insurance and some 11% of children under 18 have no insurance. Reagan lowering taxes created the deficit crisis in the first place (700 billion to 3 trillion), and we can’t afford to spend as little as Reagan did. Bush followed the same principle only he increased government spending and fiscal irresponsibility, worsening the deficit. By any moral compass, printing up money to bail out major corporations but cutting the shit out of all of our social programs, which help the neediest Americans, is wrong. I don’t believe in letting anyone hang out to dry. If we don’t go more into debt, how are these corporations who are receiving loans from the government themselves make enough revenue to pay it back? I am also pessimistic about the U.S. dollar and feel stagflation is a real threat, but something has to be done. If Warren Buffet thinks Obama is going to do the right things economically, that is good enough for me.
“Reagan lowering taxes created the deficit crisis in the first place (700 billion to 3 trillion), and we can’t afford to spend as little as Reagan did.”
Actually entitlements like the Ponzi scheme called social securiy created the deficit. Reagan mistake was not to cut that. When the Ponzi scheme goes down it will make the current crisis looks as peanuts.
“By any moral compass, printing up money to bail out major corporations but cutting the shit out of all of our social programs, which help the neediest Americans, is wrong.”
I totally agree with you, but both MacCain and Obama supperted the bailouts.
“how are these corporations who are receiving loans from the government themselves make enough revenue to pay it back?” They will pay back, in monoply dollars and claim that the govement make even a profit. As happened in the Savings and Loans crisis.
So they will think debt is OK because it creates monopoly dollars.
“If Warren Buffet thinks Obama is going to do the right things economically, that is good enough for me.”
Warren Buffet and his pal George Soros became billionares investing and exchanging monopoly money and breaking up central banks. Obamanomics will make them even richer.
I’m going to paraphrase something I heard Ed Schultz say about taxes in the U.S., and from checking it out it looks to be accurate. Before JFK, the tax rate on any income over today’s equivalent of 1 million USD was 90%. JFK lowered this to about 70%, but closed all the loopholes that had been used to get around it. That had been in place until Reagan eventually slashed it to 28%.
At the same time Reagan wanted to flex against the Soviet Union. As per u-s-history.com:
“By the time Reagan stepped down from the helm, he had expanded the U.S. military budget to a staggering 43% increase over the total expenditure during the height of the Vietnam war. That meant the increase of tens of thousands of troops, more weapons and equipment, not to mention a beefed-up intelligence program.”
I have never heard social security described as a Ponzi scheme, however they way it was implemented, I totally agree. We’ve been robbing Peter to pay Paul.
When the highest tax bracket was 70% – 90%, there was no major problem with obtaining the American Dream. Reagan was trying to fix problems he inherited, but he went overboard.
Its scary either road you take. In what you propose, there’s a very real risk of deflation leading us to another Great Depression. What will the dollar credibility be then?
“The US back them was a nation of savers and the main exporter of the world, so FDR recipe might have work once the idea of sacrifice entered peoples minds in WWII.”
I lost track of my main point, but you said it earlier. We need to change our attitudes towards our lifestyles, spending and what is appropriate for some to have and others lack. Maybe this will humble the country.
“We need to change our attitudes towards our lifestyles, spending and what is appropriate for some to have and others lack. Maybe this will humble the country.”
That is my point, only a brief but painfull Depression could cut the crap. The borrow to pay debts mentality. The live now and pay latter. The “you do not have to work hard and be frugal do get your dreams done”. I think that any other way is prolonging what will eventually come, and the more you stay prolonging the inevitable the harder will be the fall. I fear that after a mild recovery the first years of Obama presidency the fall is going to be very hard. We have not seen anything yet.
And I agree, Reagan’s mistake was to face the Soviets without demanding sacrifices. Same problem as LBJ, Bush Jr. But Reagan won and at least FDR did put rationing and other measures of war.
But the problems the Democrats face now are that they what to go back to more progressive taxation when the rest of the world, even the socialdemocratic economies of “Old Europe” are moving away from progresive taxation. That will make the US even less productive and competitive.
You have the ever illusive recipe for a flat tax? I agree with you though about things falling hard, I think this is the beginning of the end of capitalism in the U.S. as we know it.