(CNNMoney.com) - How much does it take to shock the U.S. economy back to life? Almost $1 trillion a year.
Since the recession began three years ago, the total tally of Congress' efforts to jumpstart the economy has reached a total of $2.8 trillion.
I will take issue with the pretense of this article. There are really 2 major points. First, it would be mighty difficult to find anyone besides Joe Biden to stand up and say the economy is "back to life" yet.
The second issue is that if you blow the first couple $ trillion on stuff that doesn't work, why even count it? The federal response to the housing crisis has been awful in both implementation, expense and results. The spending on the Stimulus bill funded a bunch of government jobs for about a year but really just had the effect of letting States avoid fixing their budget issues so now they get to do that.
The recent extension of tax cuts will very likely have the greatest positive impact and I expect we will start seeing that in the next 6 – 12 months. Finally.
The best part: we keep giving the rich tax cuts as part of all these expenditures...while they take their "job creating businesses" and ship them overseas, hire foreign hamsters to run in their terad-wheels and hide most of their profits in offshore bank accounts so that they don't have to pay ANY taxes irrespective of the tax rate they are supposedly responsible for paying. They then off course take all that foreign-earned money and use it to buy 535 used car salesmen to sell us on the idea that it's working as intended.
That's one hell of a ditch that the [R]s ran the ecomony into; over $2 trillion and we're still not clear of it. And it also cost us quite a bit back then while they were running it into the ditch - remember all those tax breaks and refund checks that daffy Uncle George gave us and his lemming [R] congress signed-off on....all supposedly, they said, to strengthen the economy after the first recession he led us into?? [R]s are a waste of money as well as a waste of spce.
The cost would be a lot higher if no stimulus had been passed. But try explaining this to idiots that only see what they've been told to see, by a news media hell bent on political domination, instead of reporting the news. Democracy means nothing to the corporate ran media, just ratings and money. I'll bet this never makes the column, and if not it proves what was written above is correct. Freedom and Independence are little more than catch phrases to todays citizen. To many people are slaves to the dollar, or the credit card.