The stimulus plan is shaping up to be a complete waste of time

[Kurt_and_Hunter]

If there is a crisis (which there is) our new president needs to do the right thing, not the thing that pleases Republicans, not the thing that advances other priorities in the guise of stimulus, not the thing that sounds good to the American people...

That's the thing about a crisis. It's more important than political bullshit.

Tax cuts and infrastructure spending will do very little to prevent a depression.

And if the priority is not preventing a depression then the whole thing is a malicious circle-jerk.

The American consumer is the key to our problems and the whole rest of the world's problems. And the stimulus has to hit like a bomb, dramatically changing consumer behavior--and by extension retail behavior, bank behavior, manufacturer behavior, etc.--in a span of weeks.

[shraby]

1. What are your suggestions. If you can diss a suggested

program, you should be able to put forth a solution.

[Kurt_and_Hunter]

3. I've posted it in detail on DU several times

I don't have a link though.

The key is to concentrate about a $trillion in the govt refinancing consumer debt as individual debt to the govt at 6-8% interest.

It spurs both spending and new lending and would add a couple of hundred bucks to the average families cash-flow every month for years going forward.

Would provoke the kind of dramatic activity and inventory reduction we need, repair all consumer lending banks balance sheets... it's the thing to do.

And it would hit very hard and fast.

[maxsolomon]

2. needs not wants

going back to overspending on plastic chinese crap no one needs is not a long-term solution.

i get the feeling that the american consumer is now gun shy - they're going to hoard before they binge.

[Kurt_and_Hunter]

5. Therein lies the problem... this is not the time for a long-term solution

The car is rolling closer and closer to the cliff.

That strongly suggests that the next car should have a better parking brake, but the immediate priority is to save the car we've got because we still need it.

As FDR said, "Nobody eats in the long-term."

[Democrats_win]

4. Stimulus plan should put Americans to work thus giving them money to spend.

The problem with Obama's plan is that he plans to give the money to businesses who will then suck up 50% or more of it. This type of program is known as the George W. Bush presidency. That's what he did and it failed miserably.

What needs to happen is a totally government run program which will put the maximum amount of money in the hands of the workers. This is what happened in the great depression. This is how the American worker became the greatest in the world because he was paid a fair wage and he accomplished something.

[Kurt_and_Hunter]

6. If that could be done in a month I'd be for it.

My problem is that we are planning long-term projects to soak up the unemployed when unemployment reaches 15%.

Our objective should be to prevent that eventuality, not plan how to deal with it when it happens.

The only measures that can take effect in the necessary time-frame involve moving numbers around. Programs that hire people are simply too slow.

This isn't 1932. This is more like 1930. We don't need what FDR did, we need what Hoover should have done. When FDR took over the car was already off the cliff. (28% unemployment on inauguration day)

[Democrats_win]

7. Ok, I see. Then Obama and Congress need ot act quick.

[terisan]

9. I hope the situation is not as bad as it seems because I don't see these expenditures as

working well plus I see tremendous problems with corruption in contracting. Maybe as bad as Iraq. A new bunch of billionaires will be created.Using the internet to post contracts sounds good but it is still unfortunately difficult to see where the money is going and who is benefitting.

My state has been soaking up public money for two decades on health records computerization and has done a dismal job. I think they finally decided to hire a firm from India-isn't that great!.I thought we spent the nineties getting schools computerized--with big taxes we pay on landlines---maybe as people drop landlines they are no longer raking in as much money.

We need massive debt relief for citizens because the executive and legislative branches got their money by letting banks screw citizens , we need underwriting of higher education and training opportunities for people of all ages, spending on the arts. I am sure not interested in refurbishing government buildings unless they are unsafe. I foresee thousands of Big Digs and Bridges to No Where.

They may be running scared in government-they have visions of riots in the streets and are grabbing ideas from lobbyists from corporations and and municipalities. I am convinced by this transition that we need to regionalize. What we have is a federal government-big finance-big corporation-ivy League complex every bit as bad as the military-industrial complex Eisenhower warned against.

Larry Summers and Robert Rubin are multimillionaire disasters. I want a law like China's where you can get executed or at least life in prison for economic crimes.

If we don't take the initiative we are doomed.

[FrenchieCat]

8. You need to provide more information based on your headline

cause the text of your op doesn't justify your headline in any way whatsoever.

Please provide substance, instead of vague pronouncements without any backup for them.