imc indymedia

Los Angeles Indymedia : Activist News

white themeblack themered themetheme help
About Us Contact Us Calendar Publish RSS
latest news
best of news




A-Infos Radio

Indymedia On Air

Dope-X-Resistance-LA List


IMC Network:

Original Cities africa: ambazonia canarias estrecho / madiaq kenya nigeria south africa canada: hamilton london, ontario maritimes montreal ontario ottawa quebec thunder bay vancouver victoria windsor winnipeg east asia: burma jakarta japan korea manila qc europe: abruzzo alacant andorra antwerpen armenia athens austria barcelona belarus belgium belgrade bristol brussels bulgaria calabria croatia cyprus emilia-romagna estrecho / madiaq euskal herria galiza germany grenoble hungary ireland istanbul italy la plana liege liguria lille linksunten lombardia london madrid malta marseille nantes napoli netherlands nice northern england norway oost-vlaanderen paris/Île-de-france patras piemonte poland portugal roma romania russia saint-petersburg scotland sverige switzerland thessaloniki torun toscana toulouse ukraine united kingdom valencia latin america: argentina bolivia chiapas chile chile sur cmi brasil colombia ecuador mexico peru puerto rico qollasuyu rosario santiago tijuana uruguay valparaiso venezuela venezuela oceania: adelaide aotearoa brisbane burma darwin jakarta manila melbourne perth qc sydney south asia: india mumbai united states: arizona arkansas asheville atlanta austin baltimore big muddy binghamton boston buffalo charlottesville chicago cleveland colorado columbus dc hawaii houston hudson mohawk kansas city la madison maine miami michigan milwaukee minneapolis/st. paul new hampshire new jersey new mexico new orleans north carolina north texas nyc oklahoma philadelphia pittsburgh portland richmond rochester rogue valley saint louis san diego san francisco san francisco bay area santa barbara santa cruz, ca sarasota seattle tampa bay tennessee urbana-champaign vermont western mass worcester west asia: armenia beirut israel palestine process: fbi/legal updates mailing lists process & imc docs tech volunteer projects: print radio satellite tv video regions: oceania united states topics: biotech

Surviving Cities africa: canada: quebec east asia: japan europe: athens barcelona belgium bristol brussels cyprus germany grenoble ireland istanbul lille linksunten nantes netherlands norway portugal united kingdom latin america: argentina cmi brasil rosario oceania: aotearoa united states: austin big muddy binghamton boston chicago columbus la michigan nyc portland rochester saint louis san diego san francisco bay area santa cruz, ca tennessee urbana-champaign worcester west asia: palestine process: fbi/legal updates process & imc docs projects: radio satellite tv
printable version - js reader version - view hidden posts - tags and related articles

Alexander: Obama’s 5 Billion Stimulus Plan offers too little, too late

by Stewart A. Alexander Thursday, Jan. 29, 2009 at 4:56 PM

With less than 10 days in office, President Barack Obama has indicated that his 5 billion economic stimulus package will energize the U.S. economy and create future jobs for more than three million Americans. Socialists nationwide are rejecting this new call for deficit spending and are calling for programs that will meet the short and long term needs of the nation and create immediate employment for the millions of working people that are unemployed or under-employed.

by: Stewart A. Alexander

January 28, 2009

Within the past two years, Democrats in Washington DC have spent more than .5 trillion to help rescue the struggling U.S. economy out of the worst recession since the Great Depression; now, both Houses of Congress are fast-tracking a stimulus package for President Barack Obama that will likely cost the nation more than trillion. Socialists nationwide are rejecting this new call for deficit spending and are calling for programs that will meet the short and long term needs of the nation and create immediate employment for the millions of working people that are unemployed or under-employed.

The massive spending proposals that are now in the Senate and House will cut taxes while offering limited benefits to veterans, seniors and colleges students; and the proposals will offer some relief for the millions that are now unemployed. Millions of seniors that are Social Security beneficiaries would receive a one time 0 payment under the Senate’s version of the economic recovery plan. Veterans receiving disability or pension payments would also receive a one time cash bonus of 0.

In addition to the cash bonus, the Senate’s stimulus plan would provide tax relief for individuals and couples. According to the Associated Press, individuals would receive “0 per-worker, ,000 per-couple tax cut for two years, costing about 2 billion.” The plan would also include tax benefits for businesses to claim tax credits on past profits; the plan would also include tax credits totaling billion to boost renewable energy production.

Other provisions in the stimulus plan would provide limited aid to the poor and unemployed. The Associated Press reports the Senate plan has “ billion to provide extended unemployment benefits through Dec. 31, increase them by a week and provide them to part-time and other workers.” Presently, unemployment nationwide has climbed above 7 percent and many economists believe unemployment may reach double digits before the end of 2009; in some regions of the U.S., unemployment is now above 15 percent. At a time when hundred of thousands are joining the ranks of the unemployed monthly, much more will be needed by Congress to put the nation back to work.

Within the past year, Congress approved a 8 billion stimulus package that failed to jump start the U.S. economy. That program provided more than 135 million Americans a one time payment of 0 to 0 to help boost the U.S. economy by energizing consumer spending; the program failed to produce any positive results while increasing the national debt. Also, within the past year, Congress has invested more than .5 trillion to help rescue wealthy billionaires, troubled banks and Wall Street.

During the final weeks of the Bush administration, Congress approved a massive 0 billion bank bailout that has failed to free up credit for the banks that were burdened with troubled assets. Just last week, Congress release the addition 0 billion of the 0 billion Wall Street bailout package, the Trouble Assets Relief Program (TARP), to the Obama administration. Now President Obama and Congress are preparing to take a gamble with 5 billion on another trial-and-error approach that will likely produce minimal results and will not create jobs for the millions of working people that are now unemployed.

With less than 10 days in office, President Barack Obama has indicated that his 5 billion economic stimulus package will energize the U.S. economy and create future jobs for more than three million Americans; socialists believe millions of jobs can be created by the end of 2010 by addressing the critical needs that are now being faced by working people everywhere. Addressing the health care needs of 49 million working people, that are now uninsured, and more than 120 million Americans that find health insurance unaffordable, is an item at the top of the socialist agenda. Socialists are calling for a single-payer health care system that will provide coverage for everyone; a system that will provide useful, long term employment for working people.

President Obama has introduced various programs that will possibly produce long term results for the capitalists ruling elite; however, these programs will not put food on the table for the millions of working people that are now unemployed or under-employed today. Those program include building and repairing bridges, increasing the production of alternative energy, modernizing federal buildings, computerizing medical recording within the next five years, and investing in science, research and technology.

Socialists believe the current “financial crisis” is not just a temporary setback or because of the lack of regulation in the financial sector; the collapse of the financial sector is indicative of the total failure of the capitalist economy. Socialist Party USA recently stated, “As socialist, we understand that there can no longer be any rational debate on the question of pursuing the “free market” as an alternative to the compelling urgency for a socialist transformation of society. The need of the largest capitalist firms to wipe out competition has already led to the centralization of economic power, but in the form of private ownership of an unaccountable ruling class of professional speculators, not of working people.”

It is unlikely the proposed 5 billion stimulus package will have a measurable impact on a national recession that is moving like a category five hurricane. The U.S. recession is deeply related to the expanding global recession; it is likely the U.S. government would need to invest more than trillion dollars into the economy to accomplish any measurable results. Even if such funding were available, socialists believe a socialist transformation of society is necessary; this will require radical demands on the existing system, demands that challenge the basic assumption of a capitalist market economy while pointing the way to a new society.

For more information search the Web for: Stewart A. Alexander

Report this post as:

Local News

Change Links September 2018 posted S02 10:22PM

More Scandals Rock Southern California Nuke Plant San Onofre A30 11:09PM

Site Outage Friday A30 3:49PM

Change Links August 2018 A14 1:56AM

Setback for Developer of SC Farm Land A12 11:09PM

More problems at Shutdown San Onofre Nuke J29 10:40PM

Change Links 2018 July posted J09 8:27PM

More Pix: "Families Belong Together," Pasadena J02 7:16PM

"Families Belong Together" March, Pasadena J02 7:08PM

Short Report on the Families Belong Together Protest in Los Angeles J30 11:26PM

Summer 2018 National Immigrant Solidarity Network News Alert! J11 6:58AM

Watch the Debate: Excluded Candidates for Governor of California M31 5:20AM

Change Links June 2018 posted M28 7:41AM

The Montrose Peace Vigil at 12 Years M22 8:01PM

Unity Archive Project M21 9:42AM

Dianne Feinstein's Promotion of War, Secret Animal Abuse, Military Profiteering, Censorshi M17 10:22PM

CA Senate Bill 1303 would require an independent coroner rather than being part of police M10 9:08PM

Three years after OC snitch scandal, no charges filed against sheriffs deputies M10 8:57PM

California police agencies violate Brown Act (open meetings) M02 8:31PM

Insane Company Wants To Send Nuke Plant Waste To New Mexico A29 11:47PM

Change Links May 2018 A27 8:40AM

Worker-Owned Car Wash on Vermont Closed A27 5:37AM


lausd whistle blower A11 6:58AM

Website Upgrade A10 10:02AM

Help KCET and UCLA identify 60s-70s Chicano images A04 8:02PM

UCLA Luskin: Casting Youth Justice in a Different Light A02 6:58PM

Change Links April 2018 A01 6:27PM

More Local News...

Other/Breaking News

Chuck Grassley: Women Abusing, Animal Murdering, Illegal War Supporting Criminal S22 2:58AM

Finance Capitalism and the Digital Economy S21 4:45PM

Muselières syndicales, muselières patronales S21 7:19AM

Jeff Bezos, Amazon, The Washington Post, Whole Foods, Etc S21 2:50AM

Why Choose Nut Milk Over Cows' Milk S21 1:01AM

Antrhopocène, le grand effondrement S19 9:53AM

Creative Destruction Hack Diamonds Windows/iOS/Android - Creative Destruction Generator S19 12:51AM

Abolir l'économie S18 11:18AM

The Dictatorship of Corporations S17 5:26PM

18 Lethal Consequences Of Hunting S17 3:13PM

Paraphysique de l'outplacement déontologue S15 6:51AM

Creative Destruction Hack Mod Generator S15 3:49AM

Shopping du bashing S14 8:42AM

After Lehman Brothers, Experts Say Global Financial Crisis Can Happen Again S13 8:28PM

“Animaniacs in Concert!” Starring Voice Legend Rob Paulsen S12 9:30PM

Probabilités de fin d'humanité S12 6:49AM

Florida Area of Migrant Farmworkers Denied Right to Construct Health Clinic near NaplesCIW S11 2:57AM

Propagande de virus, virus de propagande S10 7:34AM

Steer clear of work morality! S09 12:10PM

Sweatshop Lodge Ceremony Continues in US Fed Prisons Led by Inmates S08 6:17PM

Paraphysique de l'origami S08 7:11AM

The Shortwave Report 09/07/18 Listen Globally! S06 11:23PM

August 2018 Honduras Coup update S06 12:28PM

Du réussissement putréfié S06 10:55AM

Brett Kavanaugh Filled The 5th Circuit With Execution Judges S06 6:14AM

Log S06 4:25AM

Augusta Georgia Woman Gets 5 Year Prison Sentence for Writing About Russians Crime Acts S05 8:29AM

Paraphysique de contextualité S05 8:29AM

More Breaking News...
© 2000-2018 Los Angeles Independent Media Center. Unless otherwise stated by the author, all content is free for non-commercial reuse, reprint, and rebroadcast, on the net and elsewhere. Opinions are those of the contributors and are not necessarily endorsed by the Los Angeles Independent Media Center. Running sf-active v0.9.4 Disclaimer | Privacy