Wheres the stimulus?

[petasux]

Just reading an artical about the stimulus package that was ramrodded through.Apparently none of the states aresure what its for once they get it.

http://www.msnbc.msn.com/id/29590379

As tens of billions of dollars in stimulus funds begin to flow across the country, states and federal agencies are gripped by disputes over whether the money is being used in ways that violate the letter or spirit of the legislation, battles that raise new questions about precisely what the intent of the legislation was and that threaten to delay the infusion of funds into the staggering economy

Some states seem to be viewing it as a savings account

Kansas may save some of the state funds that will be freed up by stimulus money it is getting -- even though putting money in the bank would not stimulate the economy.

Others a way to balance thier own budgets

In Kentucky, which plans to use most of the freed-up state money to balance its budget,

Theres also a lotta states looking to expand thier Medicare

West Virginia wants to expand access to Medicaid but is still waiting for an answer about whether that goal is being encouraged under the law.

And my favorite part is these states are all waiting for Washington to tell them if these things are ok, apparently Washingtons not even sure of the intent for all this money theyve made available.

Now Im not a economic expert, but I do recall hearing this money was going to create jobs, boost the economy, and get money flowing again.How is it going to do that if its stashed away in a bank as a rainy day fund, or used to cover existing budget shortfalls in different states?What jobs are created if Medicares expanded?

What was the big rush to push this through and get the money flowing if everyones sitting on it anyway because they cant get a straight answer on how its supposed to be spent.This could possibly turn into the biggest circle jerk in the history of our country, I hated the Bush administration but these guys are making them look like rocket scientists by comparison[:-]

[RainmakerIII]

You need more patience petasux.

[etothepii]

ORIGINAL: RainmakerIII

You need more patience petasux.

If I remember correctly, it was Obama who desires swiftness, not patience.

[burniegoeasily]

ORIGINAL: etothepii

If I remember correctly, it was Obama who desires swiftness, not patience.

Exactly eto. I believe we were told, "there will be dire consequences if we do not pass this bill, now". That is what Obama told us when he insisted on ramming this bill through congress with out taking time to analyze, debate, revise, and post for the public to read. And now we are told to be patient???? I thought we didnt have time for patience. All boils down to ramming socialistgoodies as pay back for votes. Nothing more. [:@]

[petasux]

ORIGINAL: RainmakerIII

You need more patience petasux.

Rainman, what am I being patient for?Banking the moneys not stimulating anything, covering the holes in the state budgets not creating any jobs, these were the reasons for this giant cashgive away.

Not that youll have a logical answer anyway but .............

[Vizsla Vince]

I don't feel stimulated yet.....

[petasux]

ORIGINAL: Vizsla Vince

I don't feel stimulated yet.....

See rainman, Vince dont feel stimulated yet, what do you have to say about that

[sachiko]

I'm waiting to be stimulated, but I'm not feeling anything. Well not from the government anyway.

[James B]

He learned the panic rush it through trick from the first big porker last year.

[Lemaitre]

The stock market went up 380 points today with the biggest gains coming from the financial sector. Now I know one robin does not a Spring make but there were developments besides the big increase in stocks that are hopeful signs. Yesterday, Bank of America, considered to among the banks in the worst shape, was able to raise $8 billion in capital from private sector investors. Just a few weeks ago the consensus would have been that the private sector would never put money in BofA and that the bank's only option for raising capital would be going to the Treasury Department. $8 billion is not a large amount compared to the tens of billions of dollars that the government has had to infuse into Bank of America since last Fall but it is a very good sign that Bank of America can raise any money from the private sector. GE capital was also able to raise $8 billion from private sources with an FDIC guarantee. Indications today that Citigroup, probably the weakest of the big banks, may be returning to profitability in the first quarter is an indication that the financial sector is beginning to recover and is not insolvant as many analysts had feared.

Getting the financial sector healthy and functioning again is critical to a general economic recovery. It appears the Obama Administration has been doing considerable work behind the scenes to breath new life into the financial sector. There will still be bad economic news in the days to come and unemployment, which is a lagging indicator, will continue to rise for at least another year but in the last two days we may have reached a turning point where some of the Obama initiatives have started to bear fruit and there is hope that the economy will begin to function normally for the first time since September 2008 when all of the Bush Administration chickens came home to roost.