Stimulus now, deficit later

The country's Economy is as desperate as Obama has indicated.
Since the recession has begun, I have been laid off 3 times - the latest last week.
I was at my local Unemployment office today. I was told to get there at 7:00 AM(which I did) and I waited in line alongside approximately 100 other people to
wait for the 8:30 opening for filing.

Sad to say, the country's economy is failing right now - Obam will have to take drastic action to get things turned around.

hmmmm. Congress voted to raise their salaries that should definately help.

You voted for tax and spend...good luck to us all. In the 70s these type of programs failed miserably at revitalizing our economy. We need real leadership now and unfortunately, Obama is not a leader. A good orator does not equal great leadership. Obama promised to get us out of Iraq and stop spending money there, but in reality, that cannot happen. With the spending on the war and his "stimulus" package - which will not benefit me or many of your readers - we will see record deficits. This will only hurt the US economy long term and therefore me - unless he plans on raising taxes and creating a 50% tax bracket. That will help create incentives for those benefiting from his stimulus package to better themselves...do the math people...a 15% (or lower) marginal tax rate versus incurring debt to go to school and get an education and then taking a job that pays just enought to pay off those debts short term and when the day comes for you to make real money - which Obama defines as $250K (not like he has any new books coming out anytime soon to make his millions - which he was taxed at a lower rate and chose not to pay more in taxes himself), you have to give 50% of it to the government. I think most people will take the little effort and expenditure route and not better themselves. I just hope we wake up sooner or later and stop electing Washington morons. We need to stop electing the same people...no more voting for incumbants. Also, when are we getting term limits for Senators and Congressmen? We really need them...these guys are all a bunch of morons that need to go back to reality.

"Obama's team pledges to go line-by-line through the federal budget to root out waste and inefficiency"
~~~~~~~~~~~~~

Yeah, RIGHT they're going to do that. This isn't the movie "Dave" that starred Kevin Kline. However, if they ARE going to do this, might I suggest they draw a line through the raises the Congress just gave themselves? It's small, but it's a start. But we all know that pork barrel spending will continue - and the rest of us will just get screwed even MORE than we already are.

A $1 TRILLION deficit is not going to help the economy, it will only trigger hyper-inflation down the road.

No thanks, Obama. President Bush already tried that and it hasn't worked.

It is hard to tell whether there is any rationality to the stock market but it has priced in a pretty healthy recession. Right now the market is responding to Obama euphoria but that is nonsense. Should the Republicans be successful in cutting back on the stimulus package because of deficits, the US will be repeating the failures in the early part of the depression. That is not saying we are going to have one but if the market heads to new lows after the inauguration, you can thank the Republicans.

We are going to have problems no matter what we do but the Fed can do more about inflation than they can about deflation. The real solution would be to get rid of the Fed but since business interests are wed to it, this is no time to get religion about deficits.

Im sorry to say we live in a free country that congress can give each other a raise while people are staving and being laid off left and right , This country has forgotten what it is to be a free country and help starts at home not over seas protect the borders bring the troops home STOP NAFTA , worrie about us for once i dont care if people are dying over sea's im worried about people like my mother who was just laid off after 17yr and is 62 and Not going to be able to get anyother job unless its part time at McDonalds. I was laid off in June then again in September when do we stop the companys from controlling america ? when do we take pride in who we are and whaty we stand for , Home of the Brave and Land of the FRee - More like Land of the Brave CEO's who casue the mess and we get to pay . land of the free - Free money to anyone who wants to ruin the economy then make the taxpayers who they abused to also pay for being abused lol .. someone please WAKE the President UP so he can run the country

Yeah right, and voting for Bush was voting for no tax no spend? No it was just all about spend, no thought to what would happen. We see what has happened, in spite of the attempts to blame this disaster on Democrats. Who has been in the driver seat for eight years, and where has it gotten us? Does anyone really believe that McCain and (gasp) Palin have the insight to turn this around? He admitted it is not his strong point, and insisted right up until the banks started crashing that the fundamentals were good. And Palin left office in Wasilla with record deficits that they are still paying off.

Scott, what makes you think we can't get out or Iraq? The Iraqui government is requesting that we set a withdrawal date. We want out, they want us out, sounds like a go to me.

Considering that people with higher education levels and higher incomes overwhelmingly voted for Obama should tell you something. The "tax and spend" boogeyman is just that, a fantasy cooked up and dispensed as part of the Republican scare tactics to get and keep power. Need I remind you that Clinton was the only one to deliver a balanced budget in my lifetime. (60 years). The deficit has grown exponentially under ever single Republican president.

Obama's stimulus plan will benefit me and everyone I know. And it won't hurt anyone I know. At least we have hope. I pity those who can only express cynicism about Obama's presidency, considering that he isn't even in office.

Life must be a bleak thing for you. Sad considering that you consider it a hardship to pay a couple more percentage points in taxes. I guess that means you are in that above $250,000 group. And yet you are still miserable.

I just don't get how WE THE PEOPLE OF THE US OF A always manage to allow this sort of behavior (politicians voting to give themselves raises)...its time we cleanse the system of these useless nitwits and bring in competent replacements!

I always worry when Congress and politicians start talking about what they are going to do for us. Call me a cynic, but I don't think our leaders are capable of doing what is right for the country and the people. To do the right thing would mean to give up some of their power. I hope I am wrong, but all of us should begin to worry when we hear what the pols are going to do "for" us.

Joan - it depends upon what you mean by higher. The fact that those of us who work for a living voted against Obama should tell you something. When liberals raise taxes, they always leave loopholes for themselves and their ultra-wealthy friends. Free-loaders are exempted, so we get stuck in the web.

Obama's proposals would be a disaster for me and for everyone I know. Obama must be resisted.

Taxpayer bailout now!

Taxpayer bailout now!

I say we take all the money being used to bail out wall street and divide it evenly into a check to each tax paying American and see how that stimulates the damn economy!!!!! I bet the car dealerships, insurance companies, housing market, etc will all benefit!!! PLUS they will need employees to handle the influx of business! It isn't rocket science, boys!

Obama has already shown on the campaign trail that he can win support from both sides of the aisle; what he hasn't proven is that he can hold Congress' accountable.

It's easy to print more money and throw a welcoming party, but so far there's a lack of evidence that the country has the discipline to wean itself off oil and endless credit.
I'm ready for the celebration of new leadership in Washington. Heck, I may even buy some commemorative Obama stamps from QVC come inaugural weekend. But the clock is ticking, the bill is ballooning, and I can't help but ask: where's our finacial fix if we forever refuse to pay up?

I'll try to be patient but someone needs to remind Nancy Pelosi and Harry Reid not to get gidding yet. Washington needs to implement legislative and systemic changes to our economy -- i.e. more business oversight, increased ethics legislation -- and not just a thumb in the dyke.
Cra

There is too much name calling by some devout dems and repubs but for what? I think I can go as far as expressing an opinion but name calling is way over the line for me.President elect Obama,Vice President Biden,Senators and those members of congress and everyone in the white house they deserve congratulation too just like the outgoing Bush administration.Everyone of the two administrations and congress are hardworking and committed public servants who spent many hours away from their families and communities in fulfilling their commitment to our nation.So please say some nice things for our leaders in Washingron because noone is perfect Republican or Democrats.I think Nancy Pelosi and Harrry Reid did a fantastic job as leaders to my opinion and many democrats and republicans.