Capital Commerce

The Size of Obama's Stimulus Plan

November 25, 2008 RSS Feed Print

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Goldman Sachs does the stimulus math this way: Take Obama's claim that his stimulus proposal would create 2.5 million jobs. According to Okun's Law (concerning the relationship between unemployment and GDP), an increase of 1.8 percent in employment requires a 3.6 percent increase in the size of the economy, or $530 billlion. Goldman says that the stimulus multiplier effect for tax cuts is 1.0 vs. 1.5 for spending increases. (Don't get me started.) So a $350 billion spending package would generate the same oomph as a $530 billion tax-cut package. So the stimulus needed would be $350-$530 billion.

Me: Of course, Democrats in Congress have years of pent-up spending ideas that they may wish to dump into any package. So I think the package will end up being about the same size as TARP, $700 bllion or pretty much the upper-range of what Sen. Chuck Schumer predicted. And don't forget a possible homeowners bailout with a mega-refinancing plan. That would be an additional $300 billion.

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Mr. President,
I am not only Physically disabled permanently, but was born with a permanent brain injury. I try to live on 858.00 per month, no car, no psychiatrist, improper and lack of funds for some meds. I was not a welfare case that went onto disability because I was too lazy to work. I started working at age 15 until 1993 when I could no longer work at age 38. have written several letters and sent emails to the white house about my situation. NO ONE CARES is how I can sum it up. I voted for you, think you are honest and realistic. I hope I am right. I feel like this country would rather all of the disabed were dead. It is sad, but like the Black eyed Peas song "Where is The Love", I wish I would die in my sleep just to save you money. I still Have no ironing board, dish and bakeware, clothing and sheets, or DECENT shoes for my feet. I am in a lot of pain. I feel like I would be better off looking for a doctor who will let me get hooked on oxycontin. At least I won't feel the physical or emotional pain as much. Thanks for the reply I never got.

Laurel Havens of FL 9:46PM September 30, 2009

Sure I'll take this opportunity to add some words, although, even as I type, I've serious doubts that anyone (other than those in my same boat) will take them even a tiny bit serious. OK, I'm a 42 yr. old woman, who worked HARD my whole life, until I became disabled & could no longer do so physically. I'm therefore in a situation I'd give my right arm NOT to be in. Nobody has to take me seriously, but it's still a fact, if I COULD go back to work, I WOULD. This is because even working a job held by many highschool kids, such as a fast food job would earn me a LOT more monthly than I get in Social Security Disability. I had to fight for over 2 yrs. to even get my SSD, & lived on practically nothing during that time, surviving only on church handouts of meals, homeless shelters for a bed etc. because I have NO living family left to help me out, & there are millions just like me. This one-time payment is a help, I will not sit here & say it's not, the real question is how much help ? OK, I can stretch it out, & buy my needed meds, which I have to do without far too often because I have to choose most of the time to pay for heat in my apt. & the rent to stay in it, or take said meds. Tell me what kind of choice is that to have to make ? How would President Obama feel if his own mother had to decide not to take her prescribed medicine so she would be able to maintain to a small apt. to live in ? What am I expected to do, still live in shelters & buy my meds ? OK, so as I said, now after May 09 I will be able to have rent & buy my meds & pay my utilities for a whole 4 months (yes I did the math) so then in September 09 I go right back to no meds, GREAT !!! & THANKS !!! I so appreciate the hand up there, can you tell ? I would go ahead right now & apologize for my obvious sarcasm, because that is the kind of person I am, however, why should I when the reality is I have been reading various articles & comments for the past 2 days online & can not even tell you how many comments I have read that are written by working people that say in essence that we (disabled and elderly) are LUCKY because we get SSD or SSI. PLEASE GIVE ME A BREAK PEOPLE, I am FAR from LUCKY !!! To me lucky would be if I were able to go into a workplace each day & work hard again, & come home tired as can be, & then at weeks end cash a check I earned, & once again feel grateful, THAT would make me lucky, but I CAN NOT do that any longer, NOT I do not want to... Oh I know as well as these people do that there are people in our society that COULD work, & claim they can't & you SHOULD be mad at them, I am too, BUT DON'T group all the disabled & elsderly together with these losers who make it bad for everyone. PLEASE !!! How would you like it if you were diagnosed with a terrible degenerative disease & could no longer work & then to add insult to injury people treated you like you were not even an asset to the human race, & basically made you feel they'de be better off if you were dead ?

Angel Forsyth of KY 4:17PM March 28, 2009

I am a disabled divorced woman with custody of my children, one of whom has special needs. Thier father was recently laid off, and has stopped paying child support. I worked full time as a program director for adolescents before I became disabled. I must feed and raise my children on my SSDI payment of 680 dollars a month,and 50 dollars SSI. I must pay all my bills- including rent, clothing, heat, electricity, telephone, food, car insurance, etc. It is impossible, even with section 8 housing, which we only recieved after spending some time in a homeless shelter because I could not afford my rent on disability once I could no longer work. The government actually makes me cry each month-they send ONE dollar per month for each of my two children. i cannot even buy one gallon of milk for them with that. Then, they ask for an annual accounting of how I spend thier dollar a month! They cannot even get new shoes for school with thier yearly allowance of 12 dollars a piece. As far as food goes, food stamps would help, but every time I try to get an appointment, no one calls me back. The one time I was actually able to get an appointment, they sent me the appointment letter the day AFTER the appointment was supposed to take place. Then, they transferred my call to a full voice mail - I could not leave a message. So, I recieved a letter saying my food stamps were denied because I missed the appointment.
What can i do? I do not have a family that can support me. I have a devastating disability that is progressive and degenerative, and I am trying to do what is right for my children while I still can.
Please, Obama, look at what is happenning to disabled Americans and thier children.

Cyn of RI 10:46PM February 09, 2009