Video: Ruinous stimulus bill becomes ruinous stimulus law
posted at 4:35 pm on February 17, 2009 by Allahpundit
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Nothing too exciting, but moments in American history as glorious as this deserve to be shared. Note his reminder halfway through the first clip that this is just the first bite of the crap sandwich we’ll have to ingest. He’s not kidding, people.
Ahead of Obama’s arrival in Colorado, the White House went live with a Web site, www.recovery.gov, that will allow people to track where the money is being spent. The White House press office also promoted the projected job growth for each state and congressional district.
Aboard Air Force One en route here, presidential spokesman Robert Gibbs told reporters the White House was open-minded about another similar effort. But he stressed that there are no plans currently in the works for one.
The website is thin on details and will remain so until money starts flowing, but here’s a nice, graphically gratuitous snapshot of where the cash is supposed to be going. Exit question: “Protecting the Vulnerable”?
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“The beginning of the end”.
Sent more troops to Afghanistan too like promised.
getalife on February 17, 2009 at 5:04 PM
Just gold, I believe. He had to devalue the dollar (i.e. reprice gold) and he needed the government to make tons of money off of the move.
I think silver is a better bet, but it is so much bulkier than gold (for the same value) that it’s a bit of a problem.
progressoverpeace on February 17, 2009 at 5:05 PM
AHH…. THE RUSH/HOLT ACT…..can’t wait for THAT one to hit the fan.
seejanemom on February 17, 2009 at 5:05 PM
Oh, they will do that but all the jobs will be gubment jobs.
genso on February 17, 2009 at 5:05 PM
How does this guy Obama get away with saying there is no pork in this bill??? How?
karu_servative on February 17, 2009 at 5:05 PM
All of the markets are dropping like stone baloons.
At this rate I should be able to retire by the the age of… oh, about 127.
Thanks, Ogabe!
Then again, he shouldn’t be the only democrat to get all of the credit. After all, Pelosi and Reid made this sh!t sandwich, and GM and Chrysler are letting themselves be raped by the Unions (who are mostly democrats), which isn’t helping. So there’s plenty of blame to go around.
But it boils down to: democrats have destroyed America.
UltimateBob on February 17, 2009 at 5:06 PM
Can someone explain the logic of this presentation? Why would these additional amounts not be presented in their respective little circles?
Could it be…oh I don’t know…DECEPTION??
Ann on February 17, 2009 at 5:06 PM
“America’s problems: Over.”
America’s future: Dim
notagool on February 17, 2009 at 5:06 PM
Maybe platinum is the better choice now, though I’m not sure about holding the actual metal.
genso on February 17, 2009 at 5:06 PM
Good. I’m running out of condoms.
Mark1971 on February 17, 2009 at 5:07 PM
Vulnerable Democrat seats.
spmat on February 17, 2009 at 5:07 PM
Washington Post has the 2009 expenditures from the Stimulus at a paltry $107 billion.
Even as an overbloated overrushed dumping of money, it’s a failure.
Chuck Schick on February 17, 2009 at 5:07 PM
Did everyone hear that GM and Chrysler are getting another $7B?
Repurblican on February 17, 2009 at 5:08 PM
Unemployment is not exactly the kind of statistic that can do “exponential”. Still, this spending will only make it worse.
Count to 10 on February 17, 2009 at 5:08 PM
I’ve read two arguments in favor of Silver:
1) more growth room than gold, looking at historical charts its oversold
2) if doomsday happens, we are better off to have a bunch of Silver Half-Dollar pieces to buy stuff with, Gold is worth too much.
jp on February 17, 2009 at 5:08 PM
It’s more than that. It’s the rest of the 50 billion if I am not mistaken.
Brat4life on February 17, 2009 at 5:09 PM
FOrget GOLD< for a time, y’all….seriously….unless you have your BEANS, BULLETS, AND BANDAIDS squared away FIRST, SECOND, and THIRD.
THEN buy antique gold coins from SOMEONE who isn’t scalping them….IF you can find someone.
seejanemom on February 17, 2009 at 5:09 PM
Palladium. Its useful.
Count to 10 on February 17, 2009 at 5:09 PM
Good. The “kept promises” side of the aisle was pretty bare.
Chuck Schick on February 17, 2009 at 5:09 PM
this is scary, from Wilson/FDR to eventually Reagan/Bush….now going back in the FDR direction
jp on February 17, 2009 at 5:10 PM
Yes, it seems to make sense. Part of the problem, though, is that it should be a metal that people can easily recognize, test, and would be willing to trade for.
I’ve been racking my brains with this problem of the best tangible to hold. I used to love land (not as a tradeable, but for some stability and assurity) but they are just going to steal that by raising real estate taxes. It all looks pretty bad.
progressoverpeace on February 17, 2009 at 5:10 PM
Lead, it can be melted down for much better uses.
fumpbump on February 17, 2009 at 5:10 PM
In a “doomsday” scenario, why would gold be worth anything?
Count to 10 on February 17, 2009 at 5:10 PM
Unsurprisingly, DeathToMediaHacks took Cryptkeeper Pelosi’s “500 million jobs a month” figure as being accurate….
Master Shake on February 17, 2009 at 5:11 PM
“Teh Vulnerable”, in liberal-speak, translates to the “zero liability voter”.
Dr.Cwac.Cwac on February 17, 2009 at 5:11 PM
Heh. And is cheaper, to boot.
Count to 10 on February 17, 2009 at 5:11 PM
Platinum is used in Catalytic Converters and other Industry related stuff, which is why it cost so much. Gold too…all of them are Industrial metals so it seems to me seizing them today would not be as easy a thing to do.
jp on February 17, 2009 at 5:11 PM
It sounds very reasonable. And the point I had made about the bulkiness of silver would actually help to make it less attractive to the government.
progressoverpeace on February 17, 2009 at 5:12 PM
I wish I hadn’t read so much about this whole thing. Sinister.
marklmail on February 17, 2009 at 5:12 PM
I have been thinking silver too since less people will be able to afford gold jewlery, lessening demand.
WashJeff on February 17, 2009 at 5:12 PM
I’m at that same point. Currencies are scary and near useless now and materials and metals, too. Land, if you have the time is very good. As for core wealth there seems to be little safe harbor.
genso on February 17, 2009 at 5:12 PM
Of course he did! She is third in line to the throne! She wouldn’t ever lie to the serfs!
fumpbump on February 17, 2009 at 5:13 PM
Excuse the rhetoric, but what I mean is if our money is worthless, chaos breaks out and we are left to fend for our selves. “Guns and Gold” period so to speak, it would be easier to buy food with a Silver coin than a Gold coin, or make more sense anyway.
jp on February 17, 2009 at 5:13 PM
Yeah there was a bid deal here in NJ of people going into car dealerships at night and stealing all the catalytic converters off of cars in the lots.
MDWNJ on February 17, 2009 at 5:13 PM
Now with the governmenvt being able to take any land it wants too, land would be iffy too, if things got really really bad.
Brat4life on February 17, 2009 at 5:14 PM
PLatinum is also used in fuel cells. Are those things in the crap sandwich?
WashJeff on February 17, 2009 at 5:14 PM
if so, buy Platinum
jp on February 17, 2009 at 5:15 PM
I just submitted this question through the website. I shall keep you posted on any response but am not holding my breath!
Ann on February 17, 2009 at 5:16 PM
Hell y’all! It is going to be hard enough to buy GROCERIES!!! I can’t worry about platinum/gold/silver!
fumpbump on February 17, 2009 at 5:16 PM
I’m going to fly my flag at half staff and up side down from now on. Think I’ll put one up side down in my frontroom window too. I also got a smaller one to put in the rear window of my pickup truck, right below my gun rack.
samhill on February 17, 2009 at 5:17 PM
Where do I go now to get my gas tank filled and my government subsidized mortgage payment coupons?
My collie says:
CyberCipher on February 17, 2009 at 5:17 PM
Yaaayyy! Where’s my Obamamuny!?
ronsfi on February 17, 2009 at 5:17 PM
and our governments tax land and buildings every year. Metals in a safe, not taxed annually…yet.
WashJeff on February 17, 2009 at 5:17 PM
As exponential as the illegal aliens crossing the border.
Johan Klaus on February 17, 2009 at 5:20 PM
Tragic just freaking tragic!!!
Political Chef on February 17, 2009 at 5:20 PM
What we really need is to create a government agency to do a study on the best way to spend our additional $13 a week! Then the dems can tell us, the moronic masses, where we should invest the money we just stole from our grandchildren!
fumpbump on February 17, 2009 at 5:21 PM
Omaha Conservative on February 17, 2009 at 4:54 PM
technopeasant on February 17, 2009 at 5:21 PM
President Prick is left-handed. How fitting.
RepubChica on February 17, 2009 at 5:23 PM
The total nonsense bill. It fails to address anything beyond the appetites of the Democrat constituency
For anyone who happended to watch CNBC’s House of Cards expose, you may recall Kyle Bass. Bass is a hedge fund guy from Hayman Capital and is someone who both anticipated the mortgage bust and resulting conflagration and subsequently made a great deal of money based on his bet.
Bass has some rather sobering views as to what to expect going forward. Here’s an investor newsletter from Oct 2008 that I located on the Internet. I think anyone trying to get your head around this current economic situation would find this interesting.
click link below
http://www.scribd.com/doc/7195651/Hayman-Advisors-Oct-14
moxie_neanderthal on February 17, 2009 at 5:24 PM
That second video was riveting.
Tzetzes on February 17, 2009 at 5:24 PM
I feel like I’m in the Twighlight Zone.
How did this guy get elected again?
pastorjim67 on February 17, 2009 at 5:24 PM
Oh yeah, McCain.
pastorjim67 on February 17, 2009 at 5:27 PM
When do I get my check, bitches?!?!
Abby Adams on February 17, 2009 at 5:27 PM
When do I get my check, b!tches?!?!
Abby Adams on February 17, 2009 at 5:28 PM
My broker sent me that several weeks ago. Maybe its time to open that bar I’ve always thought about. There’s sure to be a lot of people seeking misery relief.
genso on February 17, 2009 at 5:28 PM
That extra 13 dollars a week is gas for me for a month. Don’t knock it!
Magnus on February 17, 2009 at 5:30 PM
I guess that’s something.
pastorjim67 on February 17, 2009 at 5:31 PM
Welcome to the land of OZ with all the smoke and loud talk from the grand wizard Ozama. The grand wizard has cast a spell and allowed all of his democrat munchins and let them get all the candy they want from the candy store (taxpayer). Now it is up to the taxpayers to support millions of worthless pieces of crack selling garbage that will get free homes and a check to stay out of work and buy more crack. Sorry news for the Democrats is that prostitutes will only have to work 2 days a week now, since the checks will roll in without turning tricks, so they will have to schedule them in. Best of luck to all the small businesses that will be out of business soon since the banking is not fixed and likely won’t be with this bill. It only funds the democrat projects. Goodbye what we knew of America and welcome to OZ.
The only jobs that were lost, happened after he signed, now prostitutes can stay home and collect a check without turning tricks and crack sales will be at an all time high in the next two years.
workingforpigs on February 17, 2009 at 5:32 PM
You know, a LOT of low-income people voted for Obama because during the campaign he practically PROMISED to send everyone a thousand dollars. Why would they vote for McCain, when someone else promised them money?
I talked to my friend today, who is on SS disability, food stamps and subsidized housing.
She said she is excited about getting her stimulous check and expects it in March. I told her that there will be no checks now, that it’s just $8 per week more on a paycheck (which she does not get).
She was in DENIAL!
OH NO, she recalls the speech Obama gave on TV. She said some nasty Republican is creating the rumor that last year’s stimulous checks did not have the right effect.
I told her that he was going to sign the bill today.
She was still in denial. She said, OH NO, he will not. HE PROMISED us on TV that when any bill came to his desk, he would go through and CROSS OUT anything that was unlike what he promised.
I gave up. How many other MILLIONS of low-income people are like her, and are in for a rude awakening. They give Obama their vote because they thought they would get a big check out of it.
moonlighter on February 17, 2009 at 5:32 PM
sorry for the last commment, I am really upset about all of this.
workingforpigs on February 17, 2009 at 5:33 PM
You should own both Gold and Silver but only in coin form! Do not buy bars. They will be harder to barter and trade with if there is a collapse. Silver dollars are a good bet. If you are going for silver coins, make certain they do not have the copper slice seen on the side of the coin. This is not a pure silver coin and will not be useful if silver prices go up.
I also stock gold coins. Most are simple bullion, American Eagles, Canadian, Chinese Pandas etc.
sabbott on February 17, 2009 at 5:33 PM
You’re right. It is more Oz than Twiglight Zone.
Can we expose the “Wizard” now?
pastorjim67 on February 17, 2009 at 5:34 PM
More of the OpenAndTransparency™
yeah. right.
bdeitrich on February 17, 2009 at 5:34 PM
So our Savior flies 2/3’s of the way across country, dragging along his enormous entourage of carbon spewing aircraft, to sign an “emergency” bill 4 days after it passed Congress?
I get all that right?
GarandFan on February 17, 2009 at 5:34 PM
By the way there is one main reason that I like Rush over Hannity. At least Rush had the guts to blame McCain for the 2008 election defeat and call him a RINO. Sean still has McCain on his program in hope to rehabilitate him.
Sean, be like Alex Rodriguez. Please move on. Mccain did not go all out to beat Obama. For that we have the Messiah and the stimulus plan.
technopeasant on February 17, 2009 at 5:35 PM
I heard that it’s not $13 any more – it’s more like $8, and they think that just because it’s ongoing (for no more than 2 years, if that) that people will be lulled into thinking they have an increase in pay and go out and buy a fancy flat screen TV, or some other luxury that gets the economy jump-started. Ridiculous
moonlighter on February 17, 2009 at 5:35 PM
Ever since November 5th Obama has been trumpeted as the greatest president of all time. Why shouldn’t he believe his own line of crap and think his bills will all magically work w/o any unintended consequences. It’s all going to be unicorns and butterflies from now on. Until China comes over and wants their money back.
txaggie on February 17, 2009 at 5:36 PM
He flies with THREE Airforce Ones on each trip. The guy and Michelle just flew from DC to Chicago FOR VALENTINES DAY DINNER. Then, back to DC. Then, to CO. Now, back to DC. They had some Environmental guy introduce him in CO. Either he doesn’t care who knows, OR Obama just counts on the MSM to cover for him 24/7.
marklmail on February 17, 2009 at 5:38 PM
OH, we also should get ready to purchase a new TV for the entire welfare role, I see that they have delayed the switch because some people weren’t prepared. I guess from this that watching TV is now a right, of course the ones sitting home all day getting a check see it as their job. You would have had to live under a rock not to know that digital was coming Feb 17, but OZ will provide just watch and see.
workingforpigs on February 17, 2009 at 5:38 PM
“Protecting the vulnerable“?
WTF does that mean?
Welfare paymentsTax credits for the non-working?Paul_in_NJ on February 17, 2009 at 5:39 PM
GarandFan: plus he works just 2 weeks and then takes his wife out to dinner in Chicago, spending a 3-day vacation with his entourage. It’s like he’s thumbing his nose at the American voters who got him in there in the first place, promising to work hard for them. Is he going to take a getaway every other week now?
moonlighter on February 17, 2009 at 5:39 PM
Fixed it.
Valiant on February 17, 2009 at 5:40 PM
Hey, posing and strutting is hard work!
pastorjim67 on February 17, 2009 at 5:40 PM
“All political thinking for years past has been vitiated in the same way. People can foresee the future only when it coincides with their own wishes, and the most grossly obvious facts can be ignored when they are unwelcome. ”
George Orwell
Winston Smith on February 17, 2009 at 5:40 PM
I think he’s heading to Canada next week. I guess the telephones and video connections at the White House aren’t very good.
progressoverpeace on February 17, 2009 at 5:41 PM
Believe me. I could find something to do with 8 bucks a week extra. You get like that when your broke.
Overall I don’t know crap about economics and when Reagan was in charge we in the ghetto didn’t see any of the “trickling down” So I remain undecided about this bill and will see what the coming year brings before I have a full blow panic attack like some other folks.
Magnus on February 17, 2009 at 5:41 PM
Fixed it for real.
Valiant on February 17, 2009 at 5:42 PM
Obama is no more than the Front Man for a huge left wing conspiracy.
marklmail on February 17, 2009 at 5:42 PM
Posing, strutting, grinning, scowling, fibbing, snickering…
moonlighter on February 17, 2009 at 5:42 PM
Canada?? is that outside the US? It will be his first trip, since the saudi money he picked up in Germany that got him elected trip won’t count. That was when he blew off a visit to the troops in Iraq to get his campaign money. Of course he may be on a watch list over there, so that may make sense.
workingforpigs on February 17, 2009 at 5:43 PM
I seriously wonder if Obama read the whole 1,000+ pages before signing it. OH Yeah, that’s right. They rushed to sign it, and he took 4 days to give his approval. I supposed those 4 days (in Chicago) were spent, making sure the interests of the American public was protected
moonlighter on February 17, 2009 at 5:45 PM
From that handy dandy chart:
wtf? I’m not an economist or mathematician like The One, which must explain why these numbers make no sense to an (invulnerable?) plebe like me.
Buy Danish on February 17, 2009 at 5:46 PM
please moonlighter not before dinner
workingforpigs on February 17, 2009 at 5:47 PM
From the Corner on the narcissistic ceremony:
Obama’s Permanent Campaign [Amy Holmes]
The blame will be his alone as well.
INC on February 17, 2009 at 5:50 PM
This will steam you: If you have a job, the porkulus package will put a whopping $13/week into your pocket.
Got no job? You get twice as much:
(Emphasis added) Hey, when do we working slobs get to deduct any pay from our income taxes?
Paul_in_NJ on February 17, 2009 at 5:50 PM
This is nothing but fraud on a colossal scale.
n0doz on February 17, 2009 at 5:50 PM
I think that the stock market, today, demonstrated just how effective people think that this stimulous package will be.
moonlighter on February 17, 2009 at 5:51 PM
Buck Ofama
Jaibones on February 17, 2009 at 5:52 PM
I’ve been posting that all over the place for the past couple of weeks. It’s obscene!
califcon on February 17, 2009 at 5:54 PM
WTH is he smiling about?
I, for one, would appreciate a much more somber mood from all of those Craven Criminals while they’re robbing us blind to pay off special interests and the politically-connected, again.
I swear, those people are pathological.
Rae on February 17, 2009 at 5:54 PM
Its called “pricing in the bad news.” I wonder how low that price will be?
genso on February 17, 2009 at 5:54 PM
Bond prices up 2 and 4/32nds, as investors scrambled to buy into safety.
Jaibones on February 17, 2009 at 5:55 PM
I cannot wait for a politician to say I am for protecting the responsible.
WashJeff on February 17, 2009 at 5:56 PM
Don’t get too comfortable with bonds. Short term at best. When the monetary effects of all the debt and printing money hits the market, bonds won’t be very safe.
genso on February 17, 2009 at 5:57 PM
coniving, having the ugliest first lady evah, sucking off ahmadinnerjacket, giving all my money to acorn,worthless POS
UNREPENTANT CONSERVATIVE CAPITOLIST on February 17, 2009 at 5:57 PM
And the age of the Obama Recession begins. If he honestly wanted to stimulate the economy, he would make real tax cuts and fund the construction of a dozen or two nuclear power plants.
pearson on February 17, 2009 at 5:57 PM
Have I missed the moment of silence? :(
pannw on February 17, 2009 at 6:01 PM
The choice was tax breaks for businesses which would have created long term jobs or short term government jobs which will end as soon as the stimulus money is spent. Poor choice but exactly what I would have expected from someone with Obama’s history and judgment. The New Party candidate shows his colors.
Basilsbest on February 17, 2009 at 6:04 PM
I kept yelling “Obama barada nikto” at my screen, but it didn’t work. It didn’t work…
29Victor on February 17, 2009 at 6:04 PM
Forget safety. Bonds are going to take a dive as interest rates start going through the roof. That will happen sometime in the near future (at least I’m convinced of that). I’d be selling everything with a maturity over 10 years (bonds and notes) and shorting them after that. Bonds were the ride to have from the late 90’s to now, but that game is over, by my reckoning.
progressoverpeace on February 17, 2009 at 6:04 PM
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