Nominal Republican Senators Susan Collins, Arlen Specter and Olympia Snowe assure passage of $ 800 Billion pork spending bill. Specter in particular has been one of the Democrats favorite Republicans over the years. I'm sure he got some gratis Pork for Pennsylvania (his home state) in exchange for his support.

Was there ever any doubt when you're dealing with this much of the taxpayers money???

http://news.yahoo.com/s/ap/20090207/ap_o...s_stimulus

Didn't make any difference, although you're right about these three.

We elected Obama. He never lied about anything. He was a community organizer, this is what they do. He couldn't run a lemonade stand that wasn't funded by a government grant. He knows no other solution than a government one. In his mind throwing money at pet projects is a great idea. Our congress and senate are filled wall to wall with these 60's leftists who are now in the 60's.

The American people spoke. They want government as a solution, and this is how the clueless believe it's done. Just bend over, take it, and shut up.

Hard for Republicans to stand firm on fiscal responsibility, Dip. We've had 8 years of massive deficits under Bush.

I told you he'd destroy the Republican mandate. It'll take 8 years to rebuild the party's image as a viable alternative to the Dems. Hard to argue Republicans provide a real alternative to the Dems when you're viewed as Democrat-Light.

Quote:The American people spoke. They want government as a solution, and this is how the clueless believe it's done. Just bend over, take it, and shut up.

Anyone who believes the American people spoke and "they listened" is delusional. This is more of the same, just behind a different moniker.

Agree with DB. The Republicans moved towards the Dems view of government under Bush. Strip away the rhetoric and spending got bigger, government got bigger, deficits got bigger.

You could see it coming. When Dumbo ran as a "compassionate Conservative" back in 2000 he was turning away from traditional fiscal conservatism.

If you take away their rhetoric-all of it designed to impress the base-the actual policies of Dumbo and Obama won't be that much different. Spend, spend, spend. Grow government.

Do you honestly believe McCain would have proposed this nanny state solution for a stimulus. Damn straight we voted for this. Majority rules gents, and the majority wanted to suck on the tits of government.

I can't imagine what the market will do on Monday............or perhaps it's been reacting to this all along. Can anyone name one thing in their that will stiumlate investment, that will stimulate consumer spending? More pork in this one bill than the cost of Iraq and Afganistan combined. I feel for my kids. This is going to be a long, long recession. Next up............National Health Care..........get ready. They're forming their drum circle to chant about it now.

McCain was lock stock and barrel behind the Wall Street Bailout. So to answer your question, yes! He would have had a stimulus that favored "Republican Pork" projects, don't kid yourself.

Nobody wanted to suck on the tits of the government more than the big money Republican beneficiaries of the bailout, and boy did they get it over the will of the American people. Not sure why you and everyone else are crying over this one and giving that other mess a hall pass.

The Wall Street bailout had the blessing of the libs too. At least it made economic sense. We'll never know if it kept us from an economic free fall, but we do know that it's not opening up the credit markets.

This bill will not stimulate jobs. It's doesn't even follow an economic model. It's simply pay back pork, under the name of a "stimulus package." It had the blessing of the media, and the American people were too stupid to notice the fine print.

This is the worst raping of the American people in our history.

This is Just the Beginning
by Peter Schiff






The intense scrutiny recently paid to my investment strategy in the immediate wake of the financial crisis of the last six months has unfortunately obscured the central element of my larger economic forecast. The standard line has been that although I was able to predict the crash, in the form of the housing collapse and the credit crunch, my expected fallout of a weaker dollar and global decoupling has been proven false. However, this assumes that the crash has fully played out. In reality, all we have heard thus far is the overture.

In 2008, the bubble economy that I had meticulously described years ago finally hit the pin that I knew was out there. The corporate losses, frozen credit markets and plunging home prices were the opening salvo in the unfolding economic crisis. However, the vast majority of air has yet to leak out of the bubble. As it does, the U.S. economic crisis will kick into a much higher gear. I have positioned my clients to withstand the full fury of the gale, and when it finally comes, the question "was Peter Schiff right?" will finally be answered.

Thus far, our economy has actually been spared the worst due to the temporary strength in the dollar and the recent desirability of our Government's debt. These movements derailed the short-term performance of many of my investment recommendations (though clearly not to the extent alleged by my critics) and threw a life-line to the downing U.S. economy. The demand for U.S. Treasuries has led to one of the sharpest dollar rallies on record, which has helped bring about just as pronounced a decline in commodity prices. As a result, although consumer income has fallen, so too have prices and interest rates.

The stronger dollar gives the Federal Government plenty of cover to a pursue a policy of rampant monetary inflation in order to re-inflate the collapsing bubble. Even though the Federal Reserve has thrown trillions of new dollars into circulation, those dollars have actually gained purchasing power - contrary to economic law. This, along with inventory liquidations and going-out-of-business sales, has kept a lid on consumer prices. The continued, although misguided, appeal of U.S. debt has also made it possible for the government to garner cheap financing for its equally misguided and massive bails-outs and stimulus packages.

In addition to cushioning the blow for us, the dollar rally has exacerbated the pain abroad. As money has rushed to our aid it has created a global credit crunch. The rest of the world is not only dealing with losses on toxic U.S. credit instruments but is also shouldering the burden of financing our new borrowing as well. As foreign currencies have fallen, foreign consumers have not received as large a windfall as Americans have from falling commodity prices.

In effect, Americans have been using these life-lines to pull the rest of the world into the stormy seas. However, there are signs that those holding the lines are about to cast them adrift. The dollar rally has run out of steam, gold has clearly broken out, and commodity prices are moving back up. 2009 is already the worst year ever for US. Treasury bonds and foreign stock markets are once again outperforming ours.

This week President Obama claimed that failure to pass his economic stimulus bill will have catastrophic consequences for the U.S economy. The reality is the catastrophe will be far greater with his plan then without it. If the trends of January and early February of 2009 continue, the rug will be completely pulled out from beneath the U.S. economy, and the full cost of the President's "economic depressant package" will be apparent to all.

If foreign capital does not continue to pour into Treasuries, interest rates and consumer prices in the U.S. will soar. At that point, we will finally be confronted with the real crises that I have long predicted. When the day of reckoning arrives our policy response will be critical. If we continue on the course our new President has mapped out, the catastrophe will far exceed the scope of any he hoped to avoid.

Health Care next. Think License Bureau.

Patient: I'm having a brain aneurysm, I have cash!

Nurse: I'm sorry sir, under National Health Care no person is more important than the other. You'll have to wait your turn. You're number 4012, just after the bag lady with a common cold.

The mess we have now with the insurance burocracy in the mix isn't much better. Needed to go with the free market approach paired with dollar for dollar tax credits.