stimulus deal reached - DFWstangs Forums
 
LinkBack Thread Tools Display Modes
post #1 of 21 (permalink) Old 02-11-2009, 04:08 PM Thread Starter
IA2
 
mikeb's Avatar
 
Join Date: Mar 2001
Posts: 22,413
Unhappy stimulus deal reached

$789,000,000,000.00

http://www.iht.com/articles/2009/02/...12stimulus.php

I look for a few things to happen from this.

1. A short lived market bounce
2. Continued unemployment and job losses
3. Continued tight credit issues with the banks
4. Continued economic hardships for the next 12 months
5. Another bailout announcement at some point
6. (eventually) Unhappiness with the dems when it is realized that we've been sold a bill of goods, and what the eventual cost will be

When you are in credit trouble the solution is not to go out and spend more money.
mikeb is offline  
Sponsored Links
Advertisement
 
post #2 of 21 (permalink) Old 02-11-2009, 04:16 PM
Turbobrooks
 
Andrew's Avatar
 
Join Date: Feb 2001
Location: You can call me Aaron Burr from the way I'm dropping Hamiltons
Posts: 16,252
I understand the issues with this bill.

That said, what would you propose?



Allen Werl Performance Racecraft Motorsports Inc.

Made possible by:
http://www.jamesbschassisservices.com
http://www.brooksracecraft.com
Andrew is offline  
post #3 of 21 (permalink) Old 02-11-2009, 04:23 PM
Lifer
 
Ylw 98~~SNAKE~~'s Avatar
 
Join Date: Oct 2000
Location: DFW
Posts: 13,083
Well I hope it works but I dont think increasing debt is the answer. I just hope it creates some jobs

98 Brokra
Ylw 98~~SNAKE~~ is offline  
 
post #4 of 21 (permalink) Old 02-11-2009, 04:25 PM
Lifer
 
grape's Avatar
 
Join Date: Dec 2003
Location: Fort worth, tx
Posts: 2,783
i think letting the auto manufacturers fail is a great idea.........you know, the ones who saved our asses in WWII by quickly mechanising a building aircraft and tanks for the war effort. I think US loyalty is overrated when it comes to companies like that.

real cobras don't have fog lights
grape is offline  
post #5 of 21 (permalink) Old 02-11-2009, 04:30 PM
Packin' up...
 
Skidmark's Avatar
 
Join Date: Jul 2003
Posts: 18,736
The 15k home buying perk is out the door, but they did not mention if the current 7500 first time home buyer loan will have to be paid back or not.
Skidmark is offline  
post #6 of 21 (permalink) Old 02-11-2009, 04:39 PM
LUCIFER
 
bjtheman1's Avatar
 
Join Date: Jun 2007
Location: Aubrey
Posts: 5,462
Quote:
Originally Posted by Skidmark View Post
The 15k home buying perk is out the door, but they did not mention if the current 7500 first time home buyer loan will have to be paid back or not.

That's what I'm curious about.

2004 GT Conv't

MODS:
FLOWS, 3.73'S, BASSANI O/R X-PIPE, ACCUFAB 75MM TB, PLENUM, AND VORTECH V-3 SUPERCHARGED


bjtheman1 is offline  
post #7 of 21 (permalink) Old 02-11-2009, 04:45 PM Thread Starter
IA2
 
mikeb's Avatar
 
Join Date: Mar 2001
Posts: 22,413
Quote:
Originally Posted by Andrew View Post
I understand the issues with this bill.

That said, what would you propose?
Let most affected businesses fail, get the pain over with, and then let the economy rebuild itself. Can't be much worse than what we're going thru now.
mikeb is offline  
post #8 of 21 (permalink) Old 02-11-2009, 04:49 PM
Packin' up...
 
Skidmark's Avatar
 
Join Date: Jul 2003
Posts: 18,736
Quote:
Originally Posted by mikeb View Post
Let most affected businesses fail, get the pain over with, and then let the economy rebuild itself. Can't be much worse than what we're going thru now.
I do agree with this. They will fail regardless of we they get propped up right now or not.

Let the successful business' buy them out for cheap, rebuild, rehire, and things will get a little better.
Skidmark is offline  
post #9 of 21 (permalink) Old 02-11-2009, 05:49 PM
Lifer
 
Join Date: Nov 2001
Location: Ellis County
Posts: 18,370
To Andrew, I propose they just piss all over this "spending" bill, because that's what it really is. It won't work, and since all congress does is throw good money after bad, they'll do it again in less than 6 months. You can't spend your way out of economic woes, so why can the government? It's a panic-motivated move. It's like going home with a heifer at 1:00, because you're afraid nothing else will come in before closing time. It's like a "booty call" with your hand...nothing more than desperation.

CHL holder and Conservative...AKA "Domestic Terrorist"
Vertnut is offline  
post #10 of 21 (permalink) Old 02-11-2009, 06:51 PM
DFWMUSTANGS.NET
 
Join Date: Jun 2007
Posts: 3,635
Quote:
Originally Posted by Vertnut View Post
To Andrew, I propose they just piss all over this "spending" bill, because that's what it really is. It won't work, and since all congress does is throw good money after bad, they'll do it again in less than 6 months. You can't spend your way out of economic woes, so why can the government? It's a panic-motivated move. It's like going home with a heifer at 1:00, because you're afraid nothing else will come in before closing time. It's like a "booty call" with your hand...nothing more than desperation.


BEST EXPLANATION EVAR!!!!1111!!!
sc281_99-0135 is offline  
post #11 of 21 (permalink) Old 02-11-2009, 07:06 PM
Dfw Mustangs dot net
 
Join Date: Aug 2006
Location: DFW Mustangs . Net
Posts: 1,276
Yes, the first time homebuyers loan will have to be payed back. You don't have to start paying it back until after two years. You will have 15 years to pay it back at 500.00 per year coming out of your future tax returns.
94mstng94 is offline  
post #12 of 21 (permalink) Old 02-11-2009, 07:08 PM
Cummins > Powerstroke
 
8mpg's Avatar
 
Join Date: Apr 2002
Location: id rather be cummin than strokin
Posts: 19,068
How are they funding it? The article the other day said that investors didnt want to buy into the stimulus... Are they printing money?

2006 Dodge Ram Megacab Cummins
1969 Mustang Coupe
1969 Mustang Mach1
1969 Chevy C10
1966 Mustang Coupe
8mpg is offline  
post #13 of 21 (permalink) Old 02-11-2009, 07:10 PM
Dfw Mustangs dot net
 
Join Date: Aug 2006
Location: DFW Mustangs . Net
Posts: 1,276
I "heard" someone at work yesterday mention the borrowing of money from Canada... Anyone else hear this?
94mstng94 is offline  
post #14 of 21 (permalink) Old 02-11-2009, 07:53 PM
Stock internals!!!
 
90stang's Avatar
 
Join Date: Jun 2003
Location: nitrousville,Tx
Posts: 1,767
Quote:
Originally Posted by Skidmark View Post
The 15k home buying perk is out the door, but they did not mention if the current 7500 first time home buyer loan will have to be paid back or not.

I read on one site that it was wiped off but CNN reported the $15,000 was just reduced but didn't specify.
90stang is offline  
post #15 of 21 (permalink) Old 02-11-2009, 09:16 PM
Lifer
 
Join Date: Jan 2004
Location: smithville
Posts: 1,993
thats not a real stimulus plan.thats more debt.

releiving americans of there payroll taxes for a few months would be a stimulus without debt.

look for nothing to come of these big money stimulus/bail out deals.it only sinks the usa more and more.you cannot spend your way out of this situation.

RON PAUL '08
fast83 is offline  
post #16 of 21 (permalink) Old 02-11-2009, 09:21 PM
PAN
 
Join Date: Mar 2002
Location: Under a rock
Posts: 20,154
The chinese know this too...

Mr Luo, whose English tends toward the colloquial, added: “We hate you guys. Once you start issuing $1 trillion-$2 trillion [$1,000bn-$2,000bn] . . .we know the dollar is going to depreciate, so we hate you guys but there is nothing much we can do.”

However, Mr Luo said Chinese officials would encourage its banks to finance domestic mergers and acquisitions rather than provide rescue finance to distressed financial companies in other countries: “There will be no bottom-fishing of financial institutions, particularly in the US, because there is a lot of uncertainty about the quality of the books.”

http://www.ft.com/cms/s/0/ba857be6-f...077b07658.html
Fox466 is offline  
post #17 of 21 (permalink) Old 02-12-2009, 12:26 AM
Lifer
 
MadMax404m's Avatar
 
Join Date: Jan 2007
Location: carrollton
Posts: 1,275
Our economy has been tanking(I don't care what graphs show of rises over short term years, its the long term effects that matter and that is about 2 decades) since we got taken off the gold standard. Everyone has been playing with fake money, money that never existed in reality. They are throwing around the numbers like billions and trillions like they are kids in a candy store because they all know its just fake money. So what if the dollar depreciates and this sends us into a period of inflation that has never been seen.

All this does is prolong the agony and gives the Dems the power they need to turn us into a govt run country. When Obama slapped the $500k cap on bailout CEOS into the air, and Bernake said we need to do it to ALL CEOs I realized this has been set up for years.

This "stimulus package" has been sitting on the desk of every democrate since each one got their seat. It was just a matter of time before anyone could throw it out there. Since when has our congress EVER come up with ideas(especially $789B) worth of ideas in a matter of a week or two.

I have no doubt it will pass, and my generation will take on the toll of fixing these congressional leaders screw ups, if were not already a socialist country at that point. I will say though, one good came out of the talks, Pelosi's rant for "Cash for Clunkers" got thrown out of this thing.

Although I was planning on purchasing a house in '09 with the home buying perks especially being a first time buyer. Had already talked to the mortgage company and all I just wanted to see if I would get my tax breaks....if I have to live with this thing, might as well milk what I can out of it.

71 Camaro 355sbc 6.472 @ 104mph/10.311 @ 128
Powered by: Tripp Motorsports E85 carburetor

NHRA Super Street-4040
IHRA Hot Rod-404
NHRA ET-404M
IHRA SSS-4X4M

How am I supposed to get my own T-Shirt with all those different numbers?
MadMax404m is offline  
post #18 of 21 (permalink) Old 02-12-2009, 12:41 AM
Packin' up...
 
Skidmark's Avatar
 
Join Date: Jul 2003
Posts: 18,736
Quote:
Originally Posted by 90stang View Post
I read on one site that it was wiped off but CNN reported the $15,000 was just reduced but didn't specify.
Yahoo is stating it's been wiped off the table completely, but it does not mention if the current 7500 tax 'loan' will need to be paid back or not.

Quote:
Originally Posted by MadMax404m View Post
Although I was planning on purchasing a house in '09 with the home buying perks especially being a first time buyer. Had already talked to the mortgage company and all I just wanted to see if I would get my tax breaks....if I have to live with this thing, might as well milk what I can out of it.
Better start planning my friend, it seems the perk will end in July.

CNN, "The homeowner tax credit has been kept but significantly reduced. The Senate version proposed a $15,000 credit, double that of the House bill."

Yahoo, "Working to accommodate the new, lower overall limit of the bill, negotiators effectively wiped out a Senate-passed provision for a new $15,000 tax credit to defray the cost of buying a home, these officials said."

I'm not sure how these two major news sources came to two different conclusions, both probably being on site in Washington.
Skidmark is offline  
post #19 of 21 (permalink) Old 02-12-2009, 08:33 AM
T5-T56-Tremec specialist
 
thesource's Avatar
 
Join Date: Nov 2004
Location: Heading back to Plentywood
Posts: 8,389
Chump change ...
thesource is offline  
post #20 of 21 (permalink) Old 02-12-2009, 08:46 AM
Time Served
 
Join Date: Jul 2004
Location: Plano
Posts: 711
http://www.latimes.com/news/politics...,5952458.story

Quote:
First-time home-buyers could qualify for an $8,000 tax credit.

The credit is slightly larger than the $7,500 credit in existing law, but it is substantially less than a proposal in the Senate bill that would have boosted the credit to $15,000 and broadened the eligibility.

In addition, the compromise bill waives a requirement that the tax credit be repaid. The credit applies only to homes bought between Jan. 1 and Aug. 31 of this year.

Homeowners who install new doors, windows or furnaces to make their home more energy efficient would be able to get as much as $1,500 back through new tax breaks.

'01 Bullitt #0054
bullitt54 is offline  
post #21 of 21 (permalink) Old 02-12-2009, 08:50 AM
LUCIFER
 
bjtheman1's Avatar
 
Join Date: Jun 2007
Location: Aubrey
Posts: 5,462
That's so BS, they should make anyone who purchased a home from when they started this last year not have to pay it back...not just people who purchase this year.

2004 GT Conv't

MODS:
FLOWS, 3.73'S, BASSANI O/R X-PIPE, ACCUFAB 75MM TB, PLENUM, AND VORTECH V-3 SUPERCHARGED


bjtheman1 is offline  
Sponsored Links
Advertisement
 
Reply

Bookmarks

Quick Reply
Message:
Options

Register Now



In order to be able to post messages on the DFWstangs Forums forums, you must first register.
Please enter your desired user name, your email address and other required details in the form below.

User Name:
Password
Please enter a password for your user account. Note that passwords are case-sensitive.

Password:


Confirm Password:
Email Address
Please enter a valid email address for yourself.

Email Address:
OR

Log-in










Thread Tools
Show Printable Version Show Printable Version
Email this Page Email this Page
Display Modes
Linear Mode Linear Mode



Posting Rules  
You may post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On
Trackbacks are On
Pingbacks are On
Refbacks are On

 
For the best viewing experience please update your browser to Google Chrome