Is this really "change" or is it just more of the same?

By
Real Estate Agent with Sand Dollar Realty Group, Inc. BK627826

The U.S. House of Representatives passed an $888 billion stimulus package yesterday.  Yes, that is $888,000,000,000.  Great idea since the last stimulus package just 5 months ago has done such a "fabulous" job of getting the economy going and lenders loaning money again. Let's railroad another giant spending package through Congress.

capitol   

Yes Obama voted for the previous $750 billion bank bailout when he was a Senator and a lot of good that has done. (And out of fairness so did John McCain.)  Republicans in the house unanimously voted against this bill yesterday.  I do have to wonder how many of the Democrats who did vote for it actually read the bill.  After all the bill is 647 pages long

The bill appears to be more of a government pork barrel spending bill than any sort of stimulus.  Those that have analyzed it haven't indicated much excitement in the way of decreasing the unemployment rate except maybe in the government sector.  $90 billion of infrastructure projects - things that will take years to even get started, be run by government bureaucrats, and probably come in billions of dollars over budget. $10 billion for the National Endowment for the Arts - yeah, that will help get people back to work. $650 million for digital TV coupons - and that helps the economy how? I could go on and on.

An interesting thing is that only $13 billion of this is being allocated to the housing sector. So in other words 1.5% of the stiumulus money goes to fix the root problem of the whole economic mess.  Brilliant. Just brilliant.

Then again, the American people voted and made their choices back in November.  I do want to be positive about all this, so I sure hope all this spending actually works to get the economy going instead of bankrupting the American people altogether. I guess time will tell.

Some related stories on this topic. USA Today,    CNN,       Washington Post.

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(Copyright © 2009. Sand Dollar Realty Group, Inc. All rights reserved.)   Subscribe to my blog via RSS feed.

Rob Arnold - Your full service and investor friendly Realtor ® in Orlando and Central Florida.

ABR, CPL, CRB, CSP, GRI, Managing real estate broker, Notary Public

407-389-7318 / 1-877-389-7318 www.SDRhouses.com   We Buy Houses Florida

We sell foreclosures, short sales, and bank owned REO properties throughout Central Florida. We sell and list Central Florida real estate and Orlando real estate. Free list of foreclosure and short sale houses available.

I also provide flat fee MLS listings, For Sale By Owner, and menu-based services in most parts of Central & South Florida, the Space Coast, and the Treasure Coast including Orlando, Winter Park, Maitland, Ocoee, Winter Garden, Apopka, Altamonte Springs, Casselberry, Longwood, Winter Springs, Oviedo, Lake Mary, Sanford, Deltona, Debary, Deland, Mount Dora, Eustis, Clermont, Kissimmee, Winter Haven, Lakeland, Tampa, Sarasota, Bradenton, Miami-Dade, Fort Lauderdale, West Palm Beach, Port Saint Lucie, Melbourne, Daytona Beach, Ocala, Gainesville, Volusia, Brevard, and more.   

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Rainer
4,219
Gerri Weits, PA
Commercial Realty Team - North Palm Beach, FL

Disgusting and unconstitutional.  Everyone in this country should be required to watch Valkyrie.  At least the Germans had some pride, and balls.

Jan 29, 2009 08:38 AM #3
Rainer
65,997
Scott Smith
Coldwell Banker Residential Brokerage - Gloucester, MA
Gloucester & Rockport, Massachusetts

I do hope the Democrats come to their senses. They need to cut the tax breaks in half and put a trillion into infrastructure. If the republicans can't get on board, well too bad. Obama has tried to be bipartisan and the right-wing could care less. Steamroll right over them. They republicans in the house are only looking towards the 2010 elections. Pathetic.

Rob: And yes, I agree with you....where is money for housing? Our industry seems to be getting the blame for this mess. In much my market, mortgages are jumbos. There should be something that the government can do to lower the rate on jumbos. Talk about stimulating the economy. I, and tens of thousands like me in Massachusetts, could refinace if we chose to enjoy these incredibly low rates.

Jan 29, 2009 09:02 AM #4
Rainmaker
455,517
John Mulkey
TheHousingGuru.com - Waleska, GA
Housing Guru

And you failed to mention the $150 million honey bee insurance program (a real item) that is certain to generate thousands of jobs--for bees : )  It's just politics as usual in DC.  They still don't get it, and need to GET OUT!

Jan 29, 2009 09:05 AM #5
Ambassador
557,018
"The Lovely Wife" (Broker Bryantnulls Wife) The One And Only TLW.
President-Tutas Towne Realty, Inc. - Kissimmee, FL

Hi Rob...

I normally stay away from the polictics. I have my many lady like reasons for that :)

However, I did want to share something with you. Uncle Sam sent us a notice that they were going to be sending us a few bucks. The letter was followed up with another letter stating that the money they gave us was being applied to our upcoming taxes.

Moral of the story...Uncle Sam givith and Uncle Sam taketh away. I know. This comment has nothing to do with your post :)

TLW...ROAR!

Jan 29, 2009 09:17 AM #6
Rainmaker
487,085
TIM MONCRIEF
Tim Monciref - Austin, TX
Over 2,000 homes sold…..

Change?  It is not more of the same.....just more and more.....until we say stop.  You will have to wait a few years for the next round of elections.   this debt is gonna get nasty.................

Jan 29, 2009 09:28 AM #7
Rainmaker
400,669
Hugh Krone
Weichert Referral Associates - Hamburg, NJ
Realtor, Sussex County NJ

What's most sad is the one thing that doesn't change no matter which party is in power. It is always the special interests that win. Washington just loves to spend our money without any thought as to the long term effects.The only difference I see is that the democrats and republicans have different special interest groups on which to waste the money but in the end the shaft winds up in the same place.

Jan 29, 2009 09:52 AM #8
Rainer
65,997
Scott Smith
Coldwell Banker Residential Brokerage - Gloucester, MA
Gloucester & Rockport, Massachusetts

Hugh: On this we agree.

Jan 29, 2009 10:52 AM #9
Ambassador
533,485
Jason Sardi
Auto & Home & Life Insurance throughout North Carolina - Charlotte, NC
Your Agent for Life

I too, am in agreement with Hugh... on his last comment.

Jan 29, 2009 02:03 PM #10
Anonymous
Harriet

You guys forgot to mention the $500 per person rebate going to illegal aliens.

 

Harriet Seymour, bluespringsrealtyinc.com

 

 

 

Jan 29, 2009 02:23 PM #11
Rainmaker
484,352
Trey Thurmond
BCR Realtors - College Station, TX
College Station , Texas Homes

Rob,

Excellent take on the current situation. You are right on about the "Porkey Politicians" in their individiual choices on what needs funding."

Jan 29, 2009 10:47 PM #12
Rainmaker
565,518
Mike Saunders
Lanier Partners - Athens, GA

Rob - of course it is change. In July the Help 4 Homeowners Act passed, it failed. In October the TARP program passed, it wasn't stimulus, it was bailout, that's different. Of course it had pork in it and it failed. Now we have the stimulus, loaded with pork also, but it's not a bailout. It hasn't failed. That's change. Or maybe it hasn't failed because it hasn't passed yet?

Jan 29, 2009 11:27 PM #13
Ambassador
557,018
"The Lovely Wife" (Broker Bryantnulls Wife) The One And Only TLW.
President-Tutas Towne Realty, Inc. - Kissimmee, FL

I thought the $500 is like cab fare home :)

Shhh...I never said that :)

TLW...ROAR!

Jan 29, 2009 11:44 PM #14
Rainmaker
400,669
Hugh Krone
Weichert Referral Associates - Hamburg, NJ
Realtor, Sussex County NJ

Wow, Scott and Jason agreeing with me at the same time, I'll have to record this on for prosperity, just don't let TerryH come on and agree too my old heart won,t be able to take it. LOL

Jan 30, 2009 01:35 AM #15
Rainmaker
383,094
Kevin Robinson
Twin Falls, ID
Fractional Developer

Cab fare home. Now that is funny.

Jan 30, 2009 03:54 AM #16
Rainer
29,210
Es r
CSR - Huntington, TX

READ MY MOST RECENT BLOG. They are delibratley killing the economy.

Jan 30, 2009 07:31 AM #17
Rainer
208,733
Bob Cumiskey
A1 Connection Realty, Inc. - Sun City Center, FL
US Army Retired, Your Sun City Center, Florida ~ Realtor

They are hell bent on destroying America as we know it.

Jan 30, 2009 09:52 AM #18
Ambassador
533,485
Jason Sardi
Auto & Home & Life Insurance throughout North Carolina - Charlotte, NC
Your Agent for Life

I agree with Hugh as well.

 

your friend,


Terry H.

 

signed in as...

Jan 30, 2009 06:52 PM #19
Rainer
65,997
Scott Smith
Coldwell Banker Residential Brokerage - Gloucester, MA
Gloucester & Rockport, Massachusetts

Bob: Details please?

Jan 31, 2009 06:24 AM #20
Rainmaker
400,669
Hugh Krone
Weichert Referral Associates - Hamburg, NJ
Realtor, Sussex County NJ

Sardi , i like you more every day

Jan 31, 2009 10:03 AM #21
Rainer
302,425
Terry Haugen STAGE it RIGHT! 321-956-2495
Stage it Right! - Melbourne, FL

Rob, one huge difference between the bush mismanaged stimulus and this one, oversight and restrictions, not to mention potential job creation.  Bush and paulson just threw money at all paulson's old wall street cronies, oversight be damned.

Feb 04, 2009 09:45 AM #22
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Rob Arnold

Metro Orlando Full Service - Investor Friendly & F
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