Friday, January 23, 2009

Obama asks lawmakers to back stimulus bill - Yahoo! News

Obama asks lawmakers to back stimulus bill - Yahoo! News: "Many Republican lawmakers say the $825 billion package is too costly, and that too much of the spending is for long-range projects that won't aid the economy quickly. Some economists say the package should be even bigger, however, and it was unclear whether Republicans would have much impact." To fill the black hole left by the derivatives market, the government would have to spend 10's of TRILLIONS of dollars. It's not possible to fix this with government. A bubble has burst and no one wants to acknowledge it, because of what it is and will continue to do to the global economy for at least a decade, maybe more.

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