...."You're gonna need a bigger boat"
I remember the late Roy Schieder's famous line in JAWS, when he first saw the shark.
This is what Barack Obama, his administration and our elected officials soon are going to find out about the problems the economy is truly facing. I still don't think people are taking the problems the economy has seriously. How else do you explain and or reconcile what is going in Washington DC right now?
The Democrats are stuffing the Stimulus Bill with classic absurd liberal spending , that is forcing the Republicans to take on a opposition stance. This bill if passed, will not be the Obama Stimulus Bill, it will be the Nancy Pelosi/Harry Reid Bill. Not good for Democrats when mid term elections come around. Both parties are wrong.
What is happening right now is we are in a recession, not a horrible one yet, but still a painful one. We are headed for a big recession, (not a depression), if the powers that be don't realize that the Stimulus needs to be in the range of $2-3 Trillion, If not, this Stimulus Plan will also be a waste of money.
Just think about it, how much money has been lost the last 6-12 months from the wealth effect? frozen credit? loss of jobs? loan activity? Any type of Stimulus would nearly have to equal what was lost correct? From what we have seen its all partisan politics to give special interests what they need at the expense of the ones that were hurt most - Home Owners and the Tax Payer.
In actuality, $2-3 Trillion probably would not be enough anyway, but it would send a strong message that they at least are taking the issue seriously.
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