Monday, February 23, 2009

Obama's Plan To Stimulate The Economy And Cut The Deficit Debated On Paltalk

Is it even possible to spend billions of dollars on a stimulus package, even more on bailout plans and still cut the $1.3 trillion federal deficit in half in four years?

That's what President Obama is suggesting. And that's the question we asked, and discussed, today on News Talk Online on

Boaz in California doesn't think it's possible.

But Jim in Michigan says the stimulus package had to pass. "If we don't create jobs, if we don't create a good housing marked we can't get out of this crisis," he argues.

Silvia in Argentina agrees. She says the stimulus money will find its way into the private sector, and the private sector, she says, will lead the nation, and the world, out of the economic downturn. More jobs, she says, will be created. More taxes will be collected. "In the long term," she says, the government "will receive that money back."

But Leah in Texas says the Obama plan ignores the lessons of economics 101. She says, eventually, "they are going to have to raise taxes somewhere."

Scott in Canada says you can stimulate the economy and reduce the deficit. He argues that Obama plans on cutting back the cost of the war in Iraq. And is insisting that future projects include funding components.

Erik in Iowa says bailouts just don't help an economy recover. He argues that when Japan went through it's last recession "they tried to bail the banks out seven times and it failed."

Lynda in Illinois questions the selection of projects for the stimulus package. "The government," she argues, "is wasting ... money" on programs like building day care centers. Instead, she says, the money should be applied to reducing the nation's debt.

But Malik in Indianapolis hopes the president's gamble will work. "He wants to stimulate the foundation of the economy," he says. "The option of doing nothing wasn't good."

1 comment:

Anonymous said...

if the car makers want more bail out money, I say if they wantted the money in the first place, tell them ok, but, you have to put all american made parts on your vehicles for a period of time, say 15 years, this = more jobs, more people with money, more people spending money, = people stimulating economy on their own