: reposted
The package is mostly for show and useless. What needs to happen are fundimental changes in corporate law and a return of regulatory oversight. The new rules Obama has put forward about CEO salaries and bonuses are a start in the right direction but not nearly enough.

Uncompensated offshoring needs to be eliminated. You offshore your labor then you either pay increased taxes or your product is considered import and TARRIFFED so.

Tax Loopholes need to be closed

Board conflict of interests need to be prosecuted

Corporate personhood and lobbying stopped

"Currently, we don’t think it will get to 10 percent. Our current number is somewhere in the 9s.”

-Ben Bernanke, Chairman of the Federal Reserve testifying before Congress’s joint economic committee (May 5, 2009)

In all seriousness folks...I am not going to bash the administration. I think the stimulus plan is not working and our leaders need to rethink what they are doing with the money. I was against the stimulus plan when Bush did it and I am against the one Obama did. Buy outs of GM and banks and the bail out of wall street. We have employers laying off more and more people and there is no end in site. I do not think we are out of the recession and it is going to get worse.
As for the bail outs, GM should have filed bankruptcy and restructured, the wall street gang are the ones who got us into some of this mess and they should have been forced to restructure as well. As for Fannie and Freddy, Bill Clinton, Barney Frank and even Republicans should never have given them the go ahead to give loans to people who could not afford them.
This is a mess ....

FLYGUY...the article is true..Why is the rate higher for African Americans? I do not know, but it is a shame either way. Your feeble attempt to make me out to be a racist is a flop..

I ask what would you do if you were president. How would you go about creating jobs.

So I guess they were wrong. What's your point? You think they are first economists or politicians to miss an estimate?[/quote}

He (they) knew better. Heck, if I knew back last fall unemployment was going over 10% and post such here long before May, then the Fed knew also. He was lying.

I was serious folks..this is not a bash Obama thread. I hear my side{conservative] and I hear the opposing sides. What I want to know is what you think should be done?

I believe we should give incentives to those companies that left and went abroad. I think NAFTA WAS A BIG MISTAKE. How about we not buy products from who were once US based companies till they come home and provide jobs. If it takes tax breaks to get them here then so be it.
We have to find a way to get these companies back on our soil.

The stimulus is not working folks. If it was working, the democrat claims of unemployment NOT REACHING 8% would be accurate.

FLYGUY...the article is true..Why is the rate higher for African Americans? I do not know, but it is a shame either way. Your feeble attempt to make me out to be a racist is a flop..

As you can see from the number of bloggers that responded in a positive way with what they thought would help get "us" out of this mess that they are really only interested in confrontation, I think people have forgot that " a divided house can not stand"

I would not be opposed to giving companies that return to the USA tax cuts but they would have to return prior to taking the tax cut

The unemployment number has never been accurate, but it is closer now because unemployment benefits have been increased from 26 weeks to 99 weekks the number is now closer to accurate but naturally the extention in benefit time adds to the percentage of unemployed

I think that there has always been a disproportionate number of African Americans unemployed this just points out the need to work on the factors that are making it harder for minorities to find employment

It is not our place to come up with solutions...we were told that Obama had the tools necessary to get the job done...He allegedly appointed only the best and the brightest you know like Geitner.....He made promises based on these appointments and on his Stimulus plan..now that it is not working Liberals have taken up the argument "what would you do?" I am not President nor am I an Economist, Obamas Job is to manage America, he is Failing! so much of his time and effort has been in trying to get HRC passed which in reality will not do anything to help the economy in the near future.....now that it has passed the House maybe He and his best and Brightest will start to make a Sincere effort in fixing the Economy....

It is not our place to come up with solutions...we were told that Obama had the tools necessary to get the job done...He allegedly appointed only the best and the brightest you know like Geitner

As more and more people lose jobs that means more funds being paid out to programs such as unemployment, welfare, food stamps and etc.

When more and more people lose jobs, that means less income tax being paid to help pay the national debt

I thought I was fairly specific as to what I'd do. I didn't see any political agenda in my course of action. I only make decisions based on the economics and the money. I'm am not a member of any political party. In fact, I rarely vote in anything but local elections.

But this admimistration is setting economic policy and programs in place which are not only not working in the short run, but will be enormously harmful in the long term.

2. promote the use of natgas as fuel for large vehicles and transportation fleets with transition to using it as fuel for most transportation
a. this would spur a job creating drilling boom in the U.S.
b. this would spur jobs to build out the infrastructure to support the transition
* pipeline expansion
* fueling station construction and conversion
* lower imported fuels and reduce our balance of payment deficeits
3. Enact tax incentives for plant expansions of all types making the increased revenue tax exempt for a period of 10 years.

1. stop spending money we don't have (see UHC) at this time

6. Eliminate the Departments of Energy and Education

7. Freeze most if not all federal hiring

8. Eliminate the double taxation of dividends

11. Pass legislation to reform healthcare to include tighter restrictions on "pre-existing" condition denial, increased portability, states restricting access to their markets and tort reform limitations.

Not sure how we could handle all this unemployment, but spending more money while less and less is coming in, is not usually what most economist usually recommend.

The good news is that the American Recovery and Reinvestment Act, a k a the Obama stimulus plan, is working just about the way textbook macroeconomics said it would. But that’s also the bad news — because the same textbook analysis says that the stimulus was far too small given the scale of our economic problems. Unless something changes drastically, we’re looking at many years of high unemployment.

^^If he is such a smart and Nobel prize winning economist. Then Krugman should have seen this coming and warned us like Peter Schiff did back in 2006 and early 2007 plus all of the other warnings he gave before 2006.

Schiff warnings with dates (below)

http://www.youtube.com/watch?v=jv_kLqxbtcg

http://www.youtube.com/watch?v=zdVP_sgCETo

If he is such a smart and Nobel prize winning economist. Then Krugman should have seen this coming and warned us like Peter Schiff did back in 2006 and early 2007 plus all of the other warnings he gave before 2006.

He is Professor of Economics and International Affairs at the Woodrow Wilson School of Public and International Affairs, Princeton University, Centenary Professor at the London School of Economics, and an op-ed columnist for The New York Times.[4][5] In 2008, Krugman won the Nobel Memorial Prize in Economics for his contributions to New Trade Theory and New Economic Geography. He was voted sixth in Prospect Magazine's 2005 global poll of the world's top 100 intellectuals.[6]

In September, 2003, Krugman published a collection of his columns under the title, The Great Unraveling. Taken as a whole, it was a scathing attack on the George W. Bush administration's economic and foreign policies. His main argument was that the large deficits generated by the Bush administration — generated by decreasing taxes, increasing public spending, and fighting the Iraq war — were in the long run unsustainable, and would eventually generate a major economic crisis. The book was a best-seller.

If he is such a smart and Nobel prize winning economist.