Obama's Stimulous plan is going to be a complete failure

2007 revenues............ +2.4 trillion 2007 expenditures....... -2.8 trillion 2007 deficit............... -400 billion Total US liabilities both public and private and international -53 trillion Projected deficit for 2009 -500 billion Interest on national debt (Not part of fiscal year budgets) -412 billion per year and rising as nothing is being paid off. The govt barrows money to pay this interest on borrowed money this figure will triple over the next 5 years at the current rate of borrowing. Stimulus plan in 2008 by Bush that did nothing to improve the economy using borrowed money -178 billion Obamas' stimulus plan ........... -876 billion Mortgage bail out .......................-78 billion First bank bail out .......... -350 billion + another -350 billion total -700 billion with no effect on the economy. First auto bailout ....................... -28 billion second auto bail out another........-20 billion Supplemental emergency spending ( Katrina, wars and natural disasters not included in fiscal year budgets) 2008 ...... -368 billion Lets do the math for 2009 shall we: 2008 numbers are not yet available so I will estimate for 2009 using the figures from 2007. 2007 revenues 2.4 trillion. I will be nice and give 2009 the same numbers as we all know they will be less because the economy has been in the tank for two years and can not possibly be as high as 2007. 2009 revenues ................ 2.4 trillion 2009 expenditures FY budget only. Govt spending increases every year at a rate of about 4% so 2.8 trillion x 4% = an increase of 112 billion for 2008 and anther 116 billion for 2009 in addition to the previous year bringing 2009 expenditures to 3 trillion 2.4 trillion - 3 trillion = - 600 billion deficit for FY 2009 Now lets add all the new spending: I will estimate that 1/3 of Obamas' stimulus will be spent in FY 2009 as it is over a 3 year period or is it 4? Who the hell knows. Anyway it does not matter 1/3 of 876 billion = 292 billion. Mortgage bail out ............ 78 billion Bank bail out part 2.......... 350 billion (The other 350 billion was paid out in 2008 FY) Auto bail out # 2 ............. 21 billion Interest on national debt 412 billion ( This number will be higher as I can't project what it will be with out knowing the figures for 2009 so I will use 2 year old numbers Estimated emergency spending for the new insurgence into Afghanistan and the existing war in Iraq -300 billion 2009 revenues ................................................... +2.4 trillion 2009 expenditures............................................... -3.0 trillion Stimulus plan.....................................................-292 billion Mortgage bail out................................................. -78 billion Bank bail out part 2...............................................-350 billion auto bail out # 2 ....................................................-21 billion Total estimated expenditures for FY 2009.................-3.7 trillion 2.4 trillion - 3.7 trillion = -1.3 trillion deficit for FY 2009 That is half of the total GDP now multiply this number x a minimum of 4% and then compound it over the next four years. Are you even starting to get the picture. There is no way in hell this plan will work. My opponent clearly does not know the difference between govt make work projects and real jobs created by the private sector. It is the private sector that creates permanent jobs, the govt has never created a job. It only creates tax liabilities on the private sector through spending. That is all it has ever done and that is all it will ever do. Taking money from one part of the private sector to give it to another does not generate tax revenue it is always a wash. Yes one type of industry will benefit but another one will take a loss as they will have to flip the bill to pay for the make work project through higher and ever higher taxes. Govt can not just endlessly pay people to work, the private sector can not ever possibly meet the govt's appetite for money. My opponents only mention about how the Obama plan will work is nothing more than a govt subsidised attempt at creating alternative fuel sources. This will do nothing to stimulate the economy. As it stands now all current alternative fuel sources are heavily subsidised by the govt already as none of them are cost efficient or viable otherwise the private sector would be all over it. Almost all of the things in Obamas' plan will remain permanent tax liabilities. The rail road from LA to Vegas will never support its cost and up keep. There are strings attached to the bail out to the states. They have to expand welfare and eliminate any welfare reforms that now exist. The new expansions on unemployment and welfare will become permanent new budget base lines for all subsequent FY budgets both state and federal. Nationalization of banks; http://www.cnbc.com... Govt control of health care: I site the recent passage of the increase of the SCHIP program that puts govt in direct competition with the private health care industry as it now offers free medical care to families making as much as 84,000 dollars a year. And I also site the new subsidising of COBRA insurance which is suppose to be temporary but we all know it will remain a permanent new base line for all subsequent FY budgets and will allow even more and more govt control over health care. "India being a thriving example of socialism and capitalism" Are you freakin serious!!! That place is a third world sh#it hole. You only see what the media wants you to see. Walk three blocks in any direction from where the camera is and you will see filth and poverty beyond your imagination. The only way to solve this problem is to let the inevitable happen. People who made bad business decisions need to lose there shirts. Banks that were fraudulent need to fail and the CEO's of those banks need to go to jail for life. And we need to let the capitalist free market do what it does best correct itself. And most of all, cut govt off at its knees and give the money back to the realy smart people and job creators the private sector. The govt is a corrupt useless pile of crap seeking ever more power over the people. If you trust the govt you are stupid and deserve to lose everything you have. New gun control legislation or should I say "ammo". Just make ammo to expensive problem solved. yet another attack on the law abiding citizen and a flagrant violation of the constitution. Obamas' administration does not even care about the constitution, they just laugh at it. Our founding fathers are rolling over in their graves right now. http://www.newswithviews.com...