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View Diary: Snowe, Collins will support financial reform bill (173 comments)

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  •  Maybe he's under the "delusion" that losing a (1+ / 0-)
    Recommended by:

    pointless bill is no loss.

    If he doesn't believe that the reform will help to prevent major problems, it may not be worth doing.

    Look at the stimulus that was passed a year and a half ago.

    Seemed pretty exciting at the time, even if it wasn't exactly targetted to stimulate very well.  Now we have nearly 10% official unemployment and gobs more when you include the discouraged and under-employed, but that early bill is an anchor when trying to pass a new stimulus that might actually stimulate.

    It really is possible to screw things over worse in the name of some good is better than no good.

    Free speech? Yeah, I've heard of that. Have you?

    by dinotrac on Mon Jul 12, 2010 at 05:33:54 PM PDT

    [ Parent ]

    •  I can't agree with this one (2+ / 0-)
      Recommended by:
      v2aggie2, flhiii88

      Surely you're not one of those people who think that the economy bounced back from 700,000 job losses/month automatically. The reason that unemployment hit 10% rather than the forecast 8% is because losses during the worst point at the end of '08/start of '09 were a lot worse than initially realized, and because GDP went completely off the cliff during the last quarter of '08, something also not appreciated at the time.

      The stimulus, while far from perfect, is the largest chunk of money the country has ever allocated for any one thing at one time. In some sense, it worked too well, because initially confidence grew and things got better so rapidly that people never realized just how bad they had become, and many now think nothing ever really happened - else, how to explain their belief that it is time to go into deficit reduction mode? Now, it may be true that it was too small, but politically it was as big as could possibly be passed. And we may need more, but we should not accept the GOP talking points that it did, and is doing, nothing.

      "The only thing we have to fear - is fear itself." - Franklin Delano Roosevelt

      by orrg1 on Mon Jul 12, 2010 at 06:32:59 PM PDT

      [ Parent ]

      •  Surely I am one of the people who believe that (0+ / 0-)

        we poured 100s of billions of dollars down the drain and got nearly nothing for it.

        Surely you're not one of those people who buy the tripe that Larry Summers and Company are trying to feed you -- that it's better to ensure that Wall Street Executives can buy their Bentleys than to rev up the economic engine so that ordinary "little people" like me can get work.

        I have a simple bottom line for all of this:

        When people aren't going back to work, the problem isn't being fixed, and people aren't going back to work.

        Free speech? Yeah, I've heard of that. Have you?

        by dinotrac on Mon Jul 12, 2010 at 06:39:46 PM PDT

        [ Parent ]

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