Clinton to propose $70 billion stimulus: report (first stim. plan to come from candidates)

Source: reuters



Clinton to propose $70 billion stimulus: report

1 hour, 4 minutes ago

NEW YORK (Reuters) - Democratic presidential contender Hillary Clinton on Friday will propose a $70 billion emergency spending package and possibly another $40 billion tax rebate to counter what she sees as a coming recession, according to the New York Times.


"I have been looking at the latest unemployment numbers, and I really think it is imperative that we start to move to help people dealing with the housing market and give the country a jolt of confidence in the economy," the senator from New York told the Times.

Clinton's plan would provide $30 billion for an emergency housing crisis fund for states to help low-income families unable to make mortgage payments; $25 billion to help low-income families pay heating bills this winter; $10 billion to extend unemployment insurance for people unable to find jobs; and $5 billion for alternative energy programs, the Times said.

The $40 billion tax rebate would be enacted later if economic conditions worsen.

The plan was the first specific stimulus package to be proposed by a presidential candidate from either party, the Times said.

Read more: http://news.yahoo.com/s/nm/20080111/bs_nm/clinton_stimulus_dc;_ylt=AlmHt8RXlLWm86kfPJQzWrSs0NUE

Clinton's campaign had announced she would lay out her plans for jump-starting the U.S. economy in California on Friday at 2:15 p.m. EST.

and what he actually delivered? I recall he ended up with a pretty small stimulus package. As we know now, to some extent it was because Greenspan threatened him if offered too much stimulus. Given we're in the same situation now as then - big deficits - and that Clinton has make deficit-reduction a big priority, how do we know history isn't going to repeat itself?

Interesting that she choes the figure $70B; the same amount that Bush periodically asks for with regard to the Iraq war. Maybe this will help the electorate appreciate the opportunity cost of the war.

by the time she could get anything done we won`t need bread....

a note to hillary and the barrack......stop the war now....

This is why we need Clinton.

The federal government is what? Nine trillion dollars in debt?

So, without any proposed cuts in the military budget, in the Iraq occupation funding, she wants to add another $100 billion (interest will have to be paid, you know) to the national government's debt.

This is what gets Democrats in trouble on the presidential level every time -- play right into the 'tax and spend' stereotype.

We need new ideas, not the same old, same old.

new income for the treasury......if people lose their homes and do not have jobs, the deficit will continue to rise.

And Obama wants to EXPAND the military.....and has not offered any help to the Middle class.

In the last recession revenue collapsed and ballooned the deficit.

Instead, the government should take the oil from the oil companies under eminent domain.

And instead of compensating the companies, just deduct it from the amount of back-taxes, franchise fees, and royalties the oil companies owe the American people.

Perhaps put Exxon-Mobil and/or Shell into government receivership.

:headbang:

Government revenue tends to take a huge hit in recessions.

The crisis is now. And no doubt the economy would be in better condition if the national debt wasn't so high, which this is only going to worsen.

The economy will take off like a new Ford Toyota if they do that. But it's not good for the obscenely rich, so they won't do it.

Do you honestly think that a package proposed by either one of the likely Dem candidates could get through the Senate at this point? Puhlease! Hillary knows this is a symbolic gesture that has no chance of passage in this Senate. It's political -- intended to impress voters rather than to get passed. That's.the way it works. It's good strategy and could become great strategy for the eventual candidate to propose bills that get filibustered to death in the months before the nomination because that would demonstrate that the Pubs are obstructing the needs of the people.

If they pumped the lion share into alt energy development, there would be immediate job creation. Plus all sorts of other industries spun off as a result, but alas, oil and coal still rule and once again we the people are left holding the bag of a failed future.

It seems to me that the one thing this economy *does not need* is more money floating around. What it needs is income redistribution and job creation, and there's an entire industry just begging for investment.

Lets borrow and spend our way out! Then cut taxes and go even deeper into debt! BRILLIANT! How is this any different from what is already being done? That $25 billion to help poor families pay for heating bills still goes to the Energy Industry! $30 billion for mortgages still goes to the Banks!

Hillary sure is a change agent. More of the same corporate welfare, just a different way of doing it. Instead of giving away money directly to the Energy and Financial industries, lets funnel it through poor folks and pretend we are actually helping!

Hey Rubes, Hillary is just an extension of the Bush/Clinton duopoly. You might think you are getting something new and different, but you are DEAD WRONG!

I will take anything that helps people out in terms of real money....

not just handouts.

5 billion in alternative energy programs should be 50 billion. Debt used to build real wealth is much less harmful than debt used to blow things up and kill people, or to just prop up excessive profits of certain large monopoly corporations. And, anyway, there is plenty in obscene taxes for the top 1 or 2% to pay for a lot of it.

Fund massive solar energy/wind energy projects and research.
Fund mass transportation infrastructure: bus stations and busses in small towns across the US, improved bus and/or train systems in cities, research and development of more efficient engines (hint: copy designs the rest of the world already uses).
Subsidize small companies to begin retro-fitting houses to make them more heating/cooling efficient.
Subsidize local companies to begin converting gas guzzlers to efficient diesel.
Invest in local biofuel (switchgrass?) fermenting plants.
Plus: nationalizing oil, energy and transportation companies is not a bad idea at all, considering we face a world emergency and these companies have been unable to act in their own interest, let alone our interest.

JOBS, JOBS, JOBS, JOBS, JOBS, JOBS, JOBS, JOBS, JOBS, JOBS, JOBS, JOBS, JOBS, JOBS, JOBS, JOBS, JOBS, JOBS, JOBS, JOBS, JOBS,!!!!!!!

(But I'm not holding my breath. It sounds too "socialist", I guess.)

not speculation. all these things are good ideas. just look at what kennedy sought to do.