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Originally Posted by dc_dux
Someone should admonish the esteemed Republican members of Congress and conservative talking heads for repeatedly misrepresenting the stimulus package by suggestion it wont created jobs and/or most of the money is in the out years.
Last night on Fox:
According to the CBO report, the plan could be expected to create 3 million jobs in the first 18 months, with over 2/3 of the funds spent during that period and much of the remaining funds allocated beyond that time frame to support continued long term employment.
Not that I dont look forward to a better plan as a result of the current debate in the Senate. There is room for improvement before final passage, but not room to change the core approach...job stimulus does not require massive tax relief for the wealthiest taxpayers and the corporate sector.
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The US Census Bureau projects the population to increase about 3 million people per year. If the economy creates 3 million jobs our current unemployment rate will stay as it is now, netting no gains. I am not going to speak for the people you mention or defend their words, but I will say Obama's premise that government can create lasting jobs is false. People investing in the future and making valued goods or creating valued services creates lasting jobs. People being freed from excessive taxation and excessive regulation allows for more investment in the future.
The concept is simple if the government takes a dollar from me and spends it on you, nothing of value happened. If the government uses debt, that debt will be paid in higher taxes or inflation in the future.
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Quote:
Originally Posted by Willravel
Hypothetically, could the FDIC have covered all of the failures?
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Yes. Two possibilities, one the FDIC could raise premiums or raise funds from member banks. Bank regulators could adjust the rules governing solvency issues so that marginal banks don't get caught in a panic. Or if there is going to be a "bailout", the government could provide guarantees or financial support to the FDIC.