Have The Stimulus Packages To Counter The Global Financial Crisis Been A Waste Of Money?


12 Answers

Anonymous Profile
Anonymous answered
Not as long as we're giving foreign aid and money to illegals.  I have nothing against them, but with all of the loops Americans have to jump through, take care of us first.
Joan Profile
Joan answered
I was raised to believe, if you don't have the money for it, wait until you do or don't make the purchase in the 1st place.  Instant gratification and the ability to charge on a credit card has gotten people into a mess financially.  Nobody has forced individuals to make credit card purchases or buy homes with ballooning payments..did people not expect that at some point the lenders were going to want their money?  You can blame the lenders all you want to but the fact is, we the public, agreed to the terms. Two different situations exist here...those that bought a house knowing that they could not afford the payments once they began to climb but expected to sell it at a profit prior to that time,  and the poor guy that was making ends meet but lost his job.  The latter is the one that deserves our sympathy.  The former was out to make a buck and was expecting to gouge some other home buyer.   I know of at least 2 couples that expected to turn a quick buck and got caught with a house they can not afford and knew they could not afford when they signed the contract.  They just thought they could unload the home prior to the payments going up.  They were not tricked and they were not stupid...they knew exactly what they were doing.  They deserve no bailout, as far as I am concerned.  How many more of those type transactions are there?   As far as the stimulus package is concerned, I have seen no personal benefit.   Will the stimulus package help the global situation?  I have no idea, I have my doubts since I can not even see a big benefit happening on an immediate basis in my city and state.  Too bad each of us are not big "mucky-mucks"  in the banking world or insurance industry!
Mary Ann Cassidy Profile
As many of us in the Middle Class or whatever we have been devalued to, know, you can't spend money you don't have; especially when it's not your money that's being spent!  It seems that the people running things, threw billions at  special interest groups, without providing for repayment.  It is unconscionable. They've always thought  that we're idiots, to be manipulated and used up. The American people are now waking up and speaking up. I think this is the only way to bring about change. The big shots sure don't want to lose their lavish lifestyles, and if they think they will be voted out if they don't realize that we're taking back the country, they will change what they're doing. There's more unemployment now , than before.  They use a lot of smoke and mirrors to convince us otherwise, but the jobs I see, are mostly part time, with no benefits, and they are working people to the bone, and then  putting them to the curb.
yarnlady Profile
yarnlady answered
Not entirely. Some of the money has actually helped a few people, but it has not been done efficiently or effectively, and then end result is not looking promising.

Where many jobs were saved or created, they only last as long as the stimulus money is available, and as soon as it runs out the jobs disappear again. That is not the way it was supposed to work.
thanked the writer.
Keith Old
Keith Old commented
We would have been better off with something more long term, Yarn
yarnlady commented
Yes, but I don't think anybody really knows what it should be. I know, but nobody ever asked me, and they didn't pay any attention to my letters either. The entire stimulus money should have gone to home buyers who were in danger of losing their homes, to use as additional principle payment against their loans.
Merlin Paine Profile
Merlin Paine answered
Some of the money spent a waste. The money paid to ordinary people was not a waste because ordinary people are the ones getting robbed here and they at least got something out of it. Ever last dollar, dime, nickel, and penny of the money that went to the bonuses for CEOs of the banks and automakers in particular was the biggest waste of money I have ever known. Also General Motors and Chrysler should have been allowed to fail. Ford did not need a bailout. We have awarded incompetence.
Zaphod  Beeblebrox Profile
I saw an audacious Bank of America commercial recently that summed it up nicely. The commercial asked: "What do you call 7 billion dollars in federal stimulus money?" And then after a pause: "A good start."

They have some big balls at Bank of America.
Anonymous Profile
Anonymous answered
I have no idea.

No one ever gave ME any "stimulus" money.
thanked the writer.
Keith Old
Keith Old commented
You could have shown them how its done Mensan.
Anonymous commented
True, but no one in the USA government is the least bit interested in anything I have to say, about anything.

If I was a multimillionaire, they'd listen to me all day long, if they thought that doing so would get them a campaign contribution.
james caison Profile
james caison answered
To the big banks, also Chrysler & GM it has been money thrown away. California claims to have created jobs with the help of the money but all the results are not in.
John Profile
John answered
According to our own government the jobs from the money have helped bring the economy back .the only problem is the money was spent to bring back government jobs and not permanent jobs for the working class that they have let be farmed out over seas.so until those jobs or more beneficial jobs have been brought back /produced all over the nation we the people have not moved into this new economy as the buddy system of government has produced.our own reporters have been telling us this for over a year so how can the local and federal government say they have produced jobs for all. The only time in history when the government did produce jobs for america was when we had infrastructure jobs and national jobs for the highways and national parks. It has been 40-50 years we since these type of jobs were available to the working class cictizens of the united states and the world for that matter.yes we are trying to start a new system of jobs with green power(wind,solar,geo-thermal,wave power).the only problem is they are not starting any nationwide training programs to go with so the unemployed can get some of these future boom jobs from green power.it's like they want to keep people stuck on stupid(the working class) and stuck in poverty/bypassing them as the country moves forward.it's laughable to see they are repeating the mistakes of the past by not bringing everyone along as we go into the new era. And they are suppose to be working for the good of the whole country not just a  select group. I know it's easy to take pot shots but they(the government) make it so easy. It's like one of those old kopper(black and white police comedy caper movie) movies where they all follow each other and then when one car crashes they all crash in the same spot.even in my state they are looking for fast fixes not realizing they are dooming their own people to jobs that go nowhere and their paychecks go into a business that is from out of state/has no ties to the area(a casino).while the building they are wanting to put the casino in is a manufacturing building where thousands of good paying/skilled workers could have new jobs if they would work on bringing in new technology jobs.it's like they have blinders on for the future of the state.the really sad part is while they keep the downtown area looking like a jewel (with taxpayer dollars) the neighborhoods all over town are falling into slum status because people are leaving left and right because there are no working class jobs. I guess they never learned from nero's example. Burn baby burn.(violin playing in the background).i told you it was easy to take jabs at the leaders.: )

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