Tim Geithner, and Obama never present their real position, or for that matter the basic facts.
In the stimulus we were told of a 700+ billion stimulus but never told that the same-old same-old AMT fix we do every year – a $100 + billion item – was now called stimulus.
On legislation Obama works against the public option as he says he is for it, as Tim Geithner works against Financial reform as he accepts Warren as advisor, as he tells Congress she will have no real power or influence in actual implementation. Now Tim is now for legal aid – maybe.
Indeed we just had a Tax cut bill of 854 billion, but 57 billion was for one year of unemployment which is a continuation so it is not a stimulus, so it is a 801 billion tax cut stimulus, but 137 is for the same old-same old AMT fix we do every year, so our “stimulus via tax cut” is 664 is stimulus – but there is perhaps 140 billion for the tax cuts for the rich, so is the stimulus 524 billion over two years? Should we use the estate tax cut from 55% to 35% and deductible increase from 1 million to 5 million cost of 68 billion as a “stimulus” – don’t think so, so we are down to 456 billion over two years. But the well mentioned (NYT) payroll tax cut of 112 billion (an error as the cost will be much smaller) part of the “stimulus” – if so at what size of a number? Since extending the Bush tax cuts for two years is 408 billion with 70 for the rich and 68 for the estate tax, just continuing – not stimulus – the middleclass tax cuts is 270, so we are down to 186 billion of tax based stimulus of which the payroll tax in 112 billion.
So where the hell do we get “even bigger a bill than the stimulus” – do I see GOP crocodile tears?