7.66 Trillion Taxpayer Dollars Used For Stimulus And What Do We Get?

[Vette_Newb]

Sometimes numbers tell the story and tonight there is one number that tells you everything you need to know about what's wrong with Washington's playbook.

That number is $7.66 trillion in taxpayer dollars. That's the total of all the stimulus dollars the Federal Government has used to set this nation's economy back on the right path. It’s 49 percent of our nation's GDP.

In other words, we spent half of what the world's largest economy can produce in a single year to bail out. The list is long. Take a look....

Bear Stearns: $29B

Economic stimulus checks: $178B

Bush Home Owners bailout: $300B

Fannie Mae and Freddie Mac bailout: $400B

AIG bailout: $42B

Emergency Economic Stabilization Act of 2008 (TARP): $700B

Automakers bailout: $25B

American Recovery and Reinvestment Act of 2009: $787B

Obama Home Owners bailout: $275B

Small business loans: $15B

Automakers bailout: $22B

Quantitative Easing I: $1.75T

Quantitative Easing II: $600B

Quantitative Easing III: $960B

Quantitative Easing IV: $1.08T

Operation Twist: $400B

Extending Payroll Tax Cut: $100B

Whew! That's a lot of money and where are we? Nowhere, as far as I can tell. Unemployment is at 7.8%, exactly where it was when President Obama came into office.

The economy is contracting, shrinking, and consumers and taxpayers say they aren't too happy. It's no wonder. All of this money out the door and much of it will have to be paid back. Our economy hasn't recovered. The stimulus spending was a bust!

Next time you hear Paul Krugman say we need more stimulus spending, ask him: where's my $7.66 trillion, mister?

http://www.foxbusiness.com/on-air/wi...#ixzz2Jf6bHaKm

[Upheval]

Who do you believe? The other half saying "oh ya, well look at the Dow." I dont trust the Dow. Especially when you hear things like this.

http://finance.yahoo.com/news/eight-...173320796.html

Best Buy

> Forecast store closings: 200 to 250
> Number of U.S. stores:1,056
> One-year stock performance: -36.8%

Sears Holding Corp.

> Forecast store closings: Kmart 175 to 225, Sears 100 to 125
> Number of U.S. stores: 2,118
> One-year stock performance: 8.8%

J.C. Penney

> Forecast store closings: 300 to 350
> Number of U.S. stores: 1,100
> One-year stock performance: -53.6%

Office Depot

> Forecast store closings: 125 to 150
> Number of U.S. stores: 1,114
> One-year stock performance: 50.7%

Barnes & Noble

> Forecast store closings: 190 to 240, per company comments
> Number of U.S. stores: 689
> One-year stock performance: 8.95%

Gamestop

> Forecast store closings: 500 to 600
> Number of U.S. stores: 4,471
> One-year stock performance: -2.2%

OfficeMax

> Forecast store closings: 150 to 175
> Number of U.S. stores: 872
> One-year stock performance: 80.8%

RadioShack

> Forecast store closings: 450 to 550
> Number of U.S. stores: 4,412
> One-year stock performance: -68.1%

[Upheval]

All of this economic data concerns me. The above forecast is just an indication of the big companies showing that more people will lose their jobs this year. What about all of the small businesses. So this means more people on the dole. On top of the economic data, everyone I know saw an increase in the amount taken out from the government. Furthermore, anyone who pays for their health care, those cost have increased as well, mine did. These items come at a time when jobs are getting hard to come by and the dollars has less purchasing power.
Then there is this gem, “US Social Security Admin: More Than Half Of Wage Earners Make $30,000 or Less!” http://www.ssa.gov/cgi-bin/netcomp.cgi?year=2011 So where is the money going to come from to correct the problem, the other 75 million Americans are supposed to save this sinking ship by themselves? I am hearing that a lot of people that work for a living and that are paying taxes are starting to get tired of the increasing pressure from all sides.
Then there is the national debt, still rising and not slowing down. If we don’t see a reversal soon, it can do nothing but come crashing down. The first people that will lose there ever loving minds will be the ones that are on the dole. The cash for peace program will end (Welfare) and the thin veneer of civilization will disappear as I have seen it in the past when things become desperate. Then we will get to see all that ammo that the government bought put to use. So maybe this entire gun BS was a blessing in disguise for some because now more people have stocked up and are prepared. It may not be the government we have to worry about, it just may be the fellow American.

[Vette_Newb]

Originally Posted by Upheval

Who do you believe? The other half saying "oh ya, well look at the Dow." I dont trust the Dow. Especially when you hear things like this.

http://finance.yahoo.com/news/eight-...173320796.html

Best Buy

> Forecast store closings: 200 to 250
> Number of U.S. stores:1,056
> One-year stock performance: -36.8%

Sears Holding Corp.

> Forecast store closings: Kmart 175 to 225, Sears 100 to 125
> Number of U.S. stores: 2,118
> One-year stock performance: 8.8%

J.C. Penney

> Forecast store closings: 300 to 350
> Number of U.S. stores: 1,100
> One-year stock performance: -53.6%

Office Depot

> Forecast store closings: 125 to 150
> Number of U.S. stores: 1,114
> One-year stock performance: 50.7%

Barnes & Noble

> Forecast store closings: 190 to 240, per company comments
> Number of U.S. stores: 689
> One-year stock performance: 8.95%

Gamestop

> Forecast store closings: 500 to 600
> Number of U.S. stores: 4,471
> One-year stock performance: -2.2%

OfficeMax

> Forecast store closings: 150 to 175
> Number of U.S. stores: 872
> One-year stock performance: 80.8%

RadioShack

> Forecast store closings: 450 to 550
> Number of U.S. stores: 4,412
> One-year stock performance: -68.1%

Looking at the dow is useless while Helicopter Ben is printing like he is Zimbabwe..

[ArKay99]

Originally Posted by Vette_Newb

Looking at the dow is useless while Helicopter Ben is printing like he is Zimbabwe..

But, this is no joke... pretty soon the monthly food budget for the average family is going to look like the Dow, numbers to dollars.

[Vette_Newb]

Originally Posted by ArKay99

But, this is no joke... pretty soon the monthly food budget for the average family is going to look like the Dow, numbers to dollars.

Nah, all they gotta do is mint this trillion dollar coin...

[walleyfisher]

Another year this country goes poorer and deeper debt.......Isn't there a song like this

[Upheval]

Originally Posted by walleyfisher

Another year this country goes poorer and deeper debt.......Isn't there a song like this

And if we play it backwards then everything gets better?

[Texdentist]

Originally Posted by Upheval

Who do you believe? The other half saying "oh ya, well look at the Dow." I dont trust the Dow. Especially when you hear things like this.

http://finance.yahoo.com/news/eight-...173320796.html

Best Buy

> Forecast store closings: 200 to 250
> Number of U.S. stores:1,056
> One-year stock performance: -36.8%

Sears Holding Corp.

> Forecast store closings: Kmart 175 to 225, Sears 100 to 125
> Number of U.S. stores: 2,118
> One-year stock performance: 8.8%

J.C. Penney

> Forecast store closings: 300 to 350
> Number of U.S. stores: 1,100
> One-year stock performance: -53.6%

Office Depot

> Forecast store closings: 125 to 150
> Number of U.S. stores: 1,114
> One-year stock performance: 50.7%

Barnes & Noble

> Forecast store closings: 190 to 240, per company comments
> Number of U.S. stores: 689
> One-year stock performance: 8.95%

Gamestop

> Forecast store closings: 500 to 600
> Number of U.S. stores: 4,471
> One-year stock performance: -2.2%

OfficeMax

> Forecast store closings: 150 to 175
> Number of U.S. stores: 872
> One-year stock performance: 80.8%

RadioShack

> Forecast store closings: 450 to 550
> Number of U.S. stores: 4,412
> One-year stock performance: -68.1%

While the economy surely plays a factor in these store closings, the greater reason is a sea change in retailing with the big box stores losing massively to online sales. Their only hope for staying in business is to close underperforming stores and shift resources to online efforts that they hope can compete with Amazon. Brick and mortar stores days may be numbered in a tech savvy society that always wants the lowest price.

[Vette_Newb]

Pretty much tells the story..

[Texdentist]

Originally Posted by Vette_Newb

Pretty much tells the story..

Again, although we hear a lot about outsourcing as a reason for job loss, by far the greatest cause of middle class jobs disappearing is technology. First automation is taking over manufacturing, but even more important, computer software has eliminated millions of jobs by increasing efficiency and allowing massive reductions in workforce. This is not an evil plot, it's just the result of where we are in time. The challenge is to find new reasons to make jobs that havent been teched away and to make sure the next generation is trained for the new reality. It ain't going back to the old way, ever

[gmjunkie]

Originally Posted by walleyfisher

Another year this country goes poorer and deeper debt.......Isn't there a song like this

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[C6 CRUZR]