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Your refusal to understand is expected.
$30 billion more federal debt.
We need another housing bubble?Its not a refundable tax credit. At worse, the people who buy a primary residence this year wont have to pay any income taxes. At best, the housing market might recover.
Your refusal to understand is expected.
I seriously doubt the price of the credit was cut because theyre worried about the federal debt considering they want to increase it by 800 billion.
Tell me that cant be the reason. Please.
Give me my faith back in my fellow americans.
So don't complain about the size of stimulus package anymore.
I'll add something here -- if you're really upset about it, why don't you get your state to give homebuyers a break on their state taxes? Texas is sitting on a $10 billion surplus. What is the state lege doing to encourage home sales here?
Ah, I see. So youre in the "all or nothing" boat.
Well I go back to the corporate jet analogy. Or lets just buy everyone in America new car. Dont complain about the price.
I highly doubt the they reduced the size of the tax credit because of the price. Try again.
Understand what, exactly?
You claimed that i was using the tactic of a political strawman. Kind of like how Obama is claiming Republicans want to do "nothing".
But Im not the one who is saying "ANY spending is good, no matter what its spent on." Democrats ARE saying that.
No, you are arguing both sides of that issue. No need to me to get involved there.
What do Republicans do want to do besides vote no?
There is plenty of stimulative spending to go with the pork. You are saying that you didn't think Democrats would spend money when they got back into power, which is pretty damn stupid.But Im not the one who is saying "ANY spending is good, no matter what its spent on." Democrats ARE saying that.
Bigger tax cuts including the housing one we've been arguing about for three pages, remember?
Spending is one thing. 60 Billion for childrens healthcare is spending. Increasing all federal spending by 25% in the first month is quite another.
So they got a smaller one. What else?
Depends on what it's spent on. The spending can be quite stimulative. I agree there is pork in there, but it's not like Republicans can claim to have been fiscally responsible while they were in complete control of the government and there was no need for this Keynesian spending.Spending is one thing. 60 Billion for childrens healthcare is spending. Increasing all federal spending by 25% in the first month is quite another.
Thats another thing. I never want to hear another word about Bush's spending.
Remember how we use to freak out anytime we saw how much we've spent in Iraq?
http://www.nationalpriorities.org/costofwar_home
We're almost to 600 billion and its been six years.
The dems blew Bush away in their first month in control.
Remember when McCain said we should have a spending freeze and Obama said that would be using a hatchet instead of a scalpel? He said it in all three debates.
Obama needs to stand up to Pelosi. Obama won on change and a call for bi-partisanship. Now we have drama unfolding like a bad espisode of "90210".
Yeah, the economy might not be in the ter quite as badly had that money not been wasted.
McCain said the economy was strong. You remember that.Remember when McCain said we should have a spending freeze and Obama said that would be using a hatchet instead of a scalpel? He said it in all three debates.
Who needs bipartisanship? All Obama needs is a couple of Republican votes.Obama needs to stand up to Pelosi. Obama won on change and a call for bi-partisanship. Now we have drama unfolding like a bad espisode of "90210".
We'll see. The last time the Dems had congress and the white house, they passed things like the Brady Bill and higher taxes and they got thrown out of office in no-time.Yeah, the economy might not be in the ter quite as badly had that money not been wasted.
McCain said the economy was strong. You remember that.
Who needs bipartisanship? All Obama needs is a couple of Republican votes.
If they raise taxes during a recession, they should be thrown out.
The last time the Republicans had Congress and the White House, they got us into an unnecessary war in Iraq and loosened up regulations to enable the current ty economy.
There is a reason the Republicans lost so badly.
They should just print a bunch more money out and tell the fed res to stop shredding old money and boom we are back in business. Damn I'm smart.
They are pretty much doing that already.
http://money.cnn.com/2009/02/13/real...ion=2009021712
Interesting. There's an imcome limitation on those who receive the credit. Thus the idea that the "rich" would have benefited more from a 15k tax credit is stupid.
Still dont understand why the Dems negotiated it down to 8k. Chumpy said it was the price (30 billion), but thats just asinine considering all of the stupid stuff they're spending money on.
Priorirty number one should have been to shore up the housing market.
The cratering of home equity was the catalyzing event, but the real culprits were over-indebtedness and a failure to analyze the risk of MBS's. The effects of this risk have already cascaded into the financial system. Helping the mortgage sector doesn't put the genie back in the box.
The homes market is important, and there's a lot we can do in the to help the lenders and borrowers out, but by now it is epiphenomenal. Solving banking insolvency puts the housing market in the shade IMO.
shoring it up -- it was overvalued to begin with.
Now, keeping people in their homes should be a priority -- but the lenders we bailed out are fighting that effort as much as they can.
I could see that. But it could help build consumer confidence when a million people are no longer upside down on their homes by 100k.
"Animal spirits" are the least of our concerns now, and reinflating the mortgage bubble only kicks the can down the road. The paradox of thrift is real, but in the deflationary scenario it isn't alleviated by cheering everyone up.
Contrary to the prevailing myth, recession isn't just an at ude problem.
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