You are correct, sorry I was not more specific in my post. The first 700 billion was a tutorial in knee jerk reactions. For sure I am not even close to being an expert, and many here can correct me but I believe the intention of the first 350B was to do just what you said. That is distribute the money to entities that will then inject it into the economy through loan vehicles to consumers, businesses, etc… Obviously it was an utter failure because the money never made it anywhere. The receivers of the funds simply hoarded the money to help out balance sheets that are to this day hiding assets. More, much more money will be needed to help out. Then we saw (and I guess we are still seeing a feeding frenzy) for every entity you can think of who feels they should get TARP funds. None of this appears to me to be simulating the economy in any way, shape or form.
Now lets move on to the stimulus package. Again, I am not any expert and I have spent a heck of alot of time on line trying to find an itemized list of where the “stimulus” money is going.
Does anyone, ANYONE, know?
Breeze can you post for us as you seem to be very connected to Obama.
PW what I have found is that this is much more of a federal spending package as opposed to a “stimulus” package.
You are absolutely correct that stimulus is about getting money into the economy. So my biggest problem is that this spending package does not seem to get money into the economy. It appears to be more about spending money and keeping people busy. It does not sit well with me to give tax refund money to people who do not pay taxes. There are alot of other things that don’t sit well but I don’t want to rant.
To me, getting money flowing into the economy can be achieved much more effectively by providing incentives to those who are willing to take the risk and work hard.
So yes stimulus is important and I think spending when done in a wise manner will help. However in no way do I feel that the current stimulus package is an example of wise spending.
