As February Marks Record Monthly Deficit, Lib Group Calls for $312B Stimulus
- Posted on March 7, 2011 at 7:07pm by
Scott Baker
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As news of the record-breaking $223 billion deficit makes economic waves (which Drudge notes is larger than the entire 2007 deficit), a liberal think tank is calling on the federal government to devote $382 billion to a “politically popular” stimulus plan to lower unemployment.
According to The Hill:
The call from the liberal Demos group comes as the White House and congressional Democrats and Republicans argue over how greatly to cut this year’s spending. House Republicans have proposed a total of $61 billion in cuts this year, while the White House has agreed to a total of $10.5 billion in cuts.
Officials with Demos told reporters on a conference call that their new stimulus plan would create 8.2 million government jobs over two years while lowering unemployment from 8.9 percent to 4.5 percent.
They also said it would be politically popular.
“Poll after poll indicates the American people want job creation over other national goals, including deficit reduction,” Demos Vice President Tamara Draut told reporters.
According to the group’s research, $46.4 billion would be needed to create one million state, local and federal jobs. Increased tax receipts and decreased benefits such as for unemployment insurance reduces the net cost of the jobs to $28.6 billion, the group argues.
The group does acknowledge that the plan has no chance of passage, according to The Hill.
Click here to read the Demos release, and here is their proposal:
Did we mention that this marks the 29th straight month the government has run in the red.
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Eblaze44
Posted on March 8, 2011 at 8:14pmLet’s see, give every US CITIZEN $1,000 tax free dollars, regardless of their income or their net worth. you‘d still have money left over and they’d all spend it.
Yep, let‘s spend our way out of debt with money we don’t have. China and Japan need to take back their credit cards.
Report Post »wodiej
Posted on March 8, 2011 at 4:48pmAnd no raising the debt ceiling!
Report Post »amerbur
Posted on March 8, 2011 at 4:26pmI want the names of all those who are proposing more stimulous and anyone who signs on to such a bill. I will join others in doing all I can to kick them out of office when the time comes. How dare they propose any more spending when Americans are suffering trying to decrease spending.
Report Post »AmericanLass
Posted on March 8, 2011 at 3:59pmJust how greedy/ignorant can anyone be, at a time where we have to drastically make cuts, these people are back at the troth once again.
Report Post »jackeric61
Posted on March 8, 2011 at 12:01pmWhen the dollar is worth zero and the nwo with their new currency comes out of hiding we will all see what the fed was all about. If Americans don’t stop this insanity by the 2012 elections America as we know it will be finished. God help us all!!!!!
Report Post »OH, I Get It!
Posted on March 8, 2011 at 10:16amLiberal money mindset:
1) There are checks in the book, so keep on writing checks.
2) Freedom isn’t free; but money from the Fed is!
3) Quoting from Blazing Saddles, ” These are the people who made this country great; The common clay; Salt of the earth; YOU KNOW!, Morons!
Too bad for liberals we are smarter than they think.
Report Post »smithclar3nc3
Posted on March 8, 2011 at 9:55amIt time to reverse this cycle and stop creating job tax payer fund jobs. Then we need to go through the entire system and elliminate all job that are deemed necessary.
Report Post »macwedge
Posted on March 8, 2011 at 9:51amOh shut up Liberals! YOU CANNOT BORROW YOUR WAY OUT OF DEBT!!!!
Report Post »sWampy
Posted on March 8, 2011 at 9:20amHurray, I’m for the other team.
Report Post »GODSAMERICA
Posted on March 8, 2011 at 8:57amThis absolutely stupid. This is supposed to be from a think tank? Apparently they never learned how to think, create 8.2 million government jobs???? Shouldn’t they be smart enough to know that the more government workers there are the more real workers (private sector) have to pay to pay them. This is just another way to steal more money from the people of the country. STUPID STUPID STUPID
Report Post »Gold Coin & Economic News
Posted on March 8, 2011 at 11:34amObama and his cronies end up spending some $60 billion more in a single month than G W Bush spent in ALL of 2007 and somehow, some way, it‘s still all Bush’s fault. I’m ready to pull the rest of the hair out of my already bald head.
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