Senate passes $838 billion stimulus bill

Now we just get to wait and see what happens next.

Just keep piling that debt on for the next generation.

Who do we owe these trillions of dollars to? What happens if we don't pay? Are they going to come take it? When was the last time someone issued sanctions on the United States?

I think the debt means nothing.

It's sickening how phony or idiotic Republicans are with their NEW Concern over America's budget policy. Where the fuck where they 5 years ago ?

Oh now ... NOW ... they're worried about debt.

Note to Republicans ... shut the fuck up ! It's your bullshit that put us in this hole. You've lost all credibility :

On Defense - Republicans are fuckups
On Monetary Policy - Republicans are fuckups
On Jobs - Republicans are fuckups
On Oil - Republicans are fuckups
On National Policy - Republicans are fuckups
On International Policy - Republicans are fuckups
On Human Rights - Republicans are fuckups
On Compassion to Fellow Americans - FELLOW AMERICANS - Republicans are fuckups
On the Treatment of Veterans - Republicans are fuckups

I hear of a Truth Commission, and it's a start but frankly, most of us are way past that. Let's get to prosecutions and lethal injections / shooting squads.

Republicans have raped our country. They are traitors plain and simple.

great post, but the article is vague. Anyone care to break down how EXACTLY this will help us if/when passed?

"Both include Obama's call for a tax cut for lower-income wage earners, as well as billions for unemployment benefits, food stamps, health care and other programs to help victims of the worst recession in decades."

Details!

Wohoo here comes the welfare state. Soon no one will need to work because the messiah is going to pay all of our bills. This is not stimulus it is perpetuating that which is worst in this country. This does not help the lower class it simply makes it easier for them to stay there.

This isn't the end-all solution folks.... this is just a band-aid. If you don't want our country to devolve into a welfare state get off your butt and start working on building new industries that free our country from Oil and external influences such as job-outsourcing and international debts.

DO IT NOW!

It will not help us. Let me ask you a logical question-

How will anything you listed in the following quote "stimulate" people to spend money to keep businesses earning-

"Both include Obama's call for a tax cut for lower-income wage earners, as well as billions for unemployment benefits, food stamps, health care and other programs to help victims of the worst recession in decades."

None. They are A. giving away money to people who are not earning it. B. facilitating those people NOT SPENDING their OWN money. C. providing tax cuts that keep people happy but prevent the Fed from getting the money needed to fund these ridiculously expansive plans. Which equals- D. Debt.

How do you pay off debt if you are lowering taxes and not making money? You print more. What happens when you introduce more money not backed. You create inflation.

And don't complain about the rich, as they seem to be only ones still stimulating the economy and their ability is quickly diminishing. What is supposed to happen from here is that the market collapses and the business still afloat buy collapsed businesses, introducing more money into the economy. Then they are forced to produce equal or better products at cheaper cost to the consumer that couldn't afford the other product. From there you begin competition again and the markey slowly recovers. This is what combats inflation, competition.

Obama is trying to keep wall st. happy and find a way to appeal to us at the same time. Hence "Stimulus Bill".

Then wait till you see this one: http://current.com/items/89802313/factsheet_about_the_treasury_s_financial_rescu...

..and the stock market crashes. This is the end of the end.

Now only time will tell...

Seriously stop with the Bailouts and stimuli already...

Just change the tax system to a straight across 10% of whatever you make from "everyone"... no loopholes, no bullshit write-offs, no nothing. End of problems...

There may be some inflation... I am anxious to see what happens. I think it will take a lot of time to set up the infrastructure to create these jobs though...

My advise would be to start hoarding cash now. I know I am. You will need it when the inevitable tax increases come. There is no way you can go this deep into debt without raising taxes, on everyone.

Piling on debt is exactly what we must now do, unless a 10-15 year depression is preferable.

We really must stop being a debtor nation. Unfortunately, right now is absolutely the wrong time to worry about that.

After the announcement the stock market dove. We're off to a HORRIBLE start.

The stock market dove several times in response to Bush, to Clinton, etc. A market consisting of secondary or later equity instruments, subject to automatic trading, with volatility enhanced though risk obfuscating margin actions represents a poor instantaneous indicator of economic health. I'd go as far as to say there is no good instantaneous indicator of economic health.

I just hope they are as transparent as they have been asserting they will be. If they can track this thing down to the dollar and we can avoid the scenario that has taken place with the first half of the current TARP, then who can fault them for genuinely trying? They definitely have the best and brightest involved. Are we going to sit here and suggest that we could micro-manage this catastrophe any better?

bbar wanted to know "how is the Bush administration responsible for the current economic state?"

Let's start with :

1. Lying us into a war that has cost us over 1 TRILLION Dollars.

2. Complete failure of energy policy that has our economy tied to oil.

3. Failure to acknowledge we had an economic crisis until the election.

4. Increase the size of government by ORDERS of Magnatude !

5. Hired his friends into places of authority (complete morons) that either had no clue what was happening or new it perfectly but fit their actual plan to rob the nation.

And also :

On Defense - Republicans are fuckups
On Monetary Policy - Republicans are fuckups
On Jobs - Republicans are fuckups
On Oil - Republicans are fuckups
On National Policy - Republicans are fuckups
On International Policy - Republicans are fuckups
On Human Rights - Republicans are fuckups
On Compassion to Fellow Americans - FELLOW AMERICANS - Republicans are fuckups
On the Treatment of Veterans - Republicans are fuckups

I hear of a Truth Commission, and it's a start but frankly, most of us are way past that. Let's get to prosecutions and lethal injections / shooting squads.

Republicans have raped our country. They are traitors plain and simple.

Capitalism and consumerism is the worst thing to happen to humanity since the plague. There is no economic solution and trust me in 10-20 years we'll have another "crisis".

Printing money out of thin air is just a way to cause super inflation which devalues the dollar. Our national debt is in dollars. When the dollar is worth nothing, it will eliminate our national debt.

How ingenious.

http://current.com/items/89806069/2_5_trillion_bailout_coming_in_part_from_the_f...

Try $2.5 TRILLION. Much of it funded by the Fed's ability to "print money out of thin air," according to the New York Times.

.........what next?!?

OMG, either so many of you have never had a real economics course or, you failed the course. It is the statement of a simpleton to simply say that additional currency leads to inflation. The far better statement is that additional currency has an initial inflationary impact but its long term impact is determined by the collective productivity response. If the long term response to the currency increase is that of a productivity increase, then inflationary pressures are reduced or eliminated.

This is how we have tried to control our currency over the last...50-60 years??? This is also why the fed tries to aim for a small amount of inflation (b/c there isn't a consistent way to mitigate the initial inflationary response) – they believe a small amount of inflation is a good trade off for substantial productivity increases.

Now, I am not saying that our currency has been wonderfully managed. What I am saying is that many of the simple statements so many of you are using are inaccurate and display a lack of understanding.

The choice is new world socialism or old world
capitalism. New fair and regulated competition for business to create green sustainable lifestyles or old ways bogged down by monopolies and centralized money cultures.
new world socialism that creates heath care and education opportunities or old world capitalism that creates unneeded wars, profiteering and bailouts for duplicitous money cultures - banking, mortgauge industry etc. We are at a historic crossroads- we create a new better model for all or continue the old model that benifits the few!

i need a bail out - fuck me right.