Myths and falsehoods surrounding the...

Myths and falsehoods surrounding the economic recovery plan

There are 70 comments on the mediamatters.org story from Jan 29, 2009, titled Myths and falsehoods surrounding the economic recovery plan. In it, mediamatters.org reports that:

During their coverage and discussion of the economic recovery bill supported by President Obama, the American Recovery and Reinvestment Act , media figures have advanced several myths and falsehoods relating to ...

Join the discussion below, or Read more at mediamatters.org.

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change

South Elgin, IL

#1 Jan 29, 2009
Mr_Bill What an unbiased source you bring us!
Crab Nebula Hooya

Hanoi, Vietnam

#2 Jan 29, 2009
change wrote:
Mr_Bill What an unbiased source you bring us!
dat Y .org,od not .Billyhill ?

:-ooooooooooo

“It's a Brand New Day”

Since: Feb 06

New Rochelle

#3 Jan 29, 2009
change wrote:
Mr_Bill What an unbiased source you bring us!
No bias in plain truth.

“Reconquer This.”

Since: Feb 08

Haymarket, VA

#4 Jan 29, 2009
Wow,

I've never looked at the MediaMatters web site before. A real bullshit factory!

Since: Apr 07

Franklin, TN

#5 Jan 29, 2009
Why the Economic Stimulus (Bailout) will not work.

http://getbackrat.angelfire.com

“It's a Brand New Day”

Since: Feb 06

New Rochelle

#6 Jan 29, 2009
Battlecat wrote:
Wow,
I've never looked at the MediaMatters web site before. A real bullshit factory!
Keep looking. Perhaps you can find a mistake.
Matt

San Francisco, CA

#7 Jan 29, 2009
An example of libslant is emphasis.
This morning I had the news on, and the subtext headline for an upcoming story (after the break) read like this....
-Republicans in the house say 'no' to stimulus.-

Notice the libslant?

Now the same line with a different emphasis...'

-Republicans in the house say no to 'stimulus'.-

Subtle, isn't it? I think the second one fits better seeing that they are writing an IOU to whoever they please, and putting your names on it.

Since: Apr 07

Franklin, TN

#8 Jan 29, 2009
Ok here is the problem and the solution as I see it.

Credit is what got us into this mess. Carter, Clinton and President Soetoro wanting to give FREE credit to those who could ill afford it.

Then there are those among us with a steady income who feel we must have our plastic. Yea I know boy it is very easy to convince ourselves how great life is when we are able to charge whatever we want.

The fact of the matter is while the average family income has remained virtually unchanged over the past 40 years our credit spending has steadily increased at an alarming rate.

Ok so that simplified and in a nut shell is what got us where we are today.

Now we all need to cut up ALL of our credit cards and stop charging EVERYTHING. Over the ne4xt few months we all need to start concentrating on paying off ALL of our credit card debts.

Yes we can do it. We created the debts and we can pay them down and off. Start by cutting up your cards. That way you can't use them. Then instead of using your card to make your purchases use your cash instead.

Yea I know I can't buy everything I use to when I had plastic also. But you know I seem to have more cash to spend then I use to.

For those who can pay off all of their credit cards at one time DO IT. For the rest of us remember when you pay the minimum payment you are only paying the interest and not the principle therefore pay as much as you can. I started out paying double the minimum. That satisfied the credit card companies and helps pay down my debt. Then as I paid off my cards I'd add the additional money to another card until it was paid off. Then I'd take that money and put it towards another card until I had paid off all of my credit card debt.

That left me with enough money to live on while I was paying down my credit card debts.

Next I went to the bank and negotiates a 15 year fixed mortgage. Yes the monthly payments were higher than what I was use to but in 10 more years my house will be paid for in full and I will be completely out of debt.

That will free up your entire pay check and you will find at the end of every month not only are all of your bills paid in full but you'll actually have a lot of money left over.

This is what I call the true American Stimulus Plan. It works for the individual as well as for the country.

Getting head over heals in debt is what got us into this mess. Getting out of debt will get us out.

http://getbackrat.angelfire.com

“Homosapien ”

Since: Jan 07

Minneapolis

#9 Jan 29, 2009
We tried the republican way and that got us here. Now we need to try something different. Some things in this package are not short term, I say GOOD! We've become so short term orientated that our roads are falling apart (bridges falling) and our stock market is controlled by emotional speculation, it's time that we did invest in this country instead of just speculate about short term costs or gains.
Truth can be Annoying

Lexington, KY

#10 Jan 29, 2009
change wrote:
Mr_Bill What an unbiased source you bring us!
He is a biased partisan democrat, mentally and emotionally, no different from a biased partisan republican.
Truth can be Annoying

Lexington, KY

#11 Jan 29, 2009
mixed wrote:
We tried the republican way and that got us here. Now we need to try something different.
Bush threw hundreds of billions in welfare at the recession, now Obama is doing the same thing. What, pray tell, is different, other than perhaps the recipients of the welfare?
change

South Elgin, IL

#12 Jan 30, 2009
Truth can be Annoying wrote:
<quoted text>He is a biased partisan democrat, mentally and emotionally, no different from a biased partisan republican.
For certain!!
Jones

“It's about the American People”

Since: Jun 07

Flushing, NY

#13 Jan 30, 2009
yes we can lie to the American people and put in the White House a Muslim president that was educated in islamic Madrassa in Kenya and Indonesia
Yes we can take the tax money of the hard working American people and give it to the Acorn street gangs that manipulated the election results.

“Tell the Truth”

Since: Nov 07

Orlando, Florida

#14 Jan 30, 2009
Thanks for posting this, Bill. The myths have been floating around Topix here for days. Of course, those who believe them will continue to do so because it gives them something to complain about.

“Tell the Truth”

Since: Nov 07

Orlando, Florida

#15 Jan 30, 2009
Jim Hayden wrote:
Why the Economic Stimulus (Bailout) will not work.
http://getbackrat.angelfire.com
Get Back Rat?????
koz

Akron, OH

#16 Jan 30, 2009
Mr_Bill wrote:
No bias in plain truth.
But plain truth is so hard to find on Media Matters.
Proud Of Georgia

United States

#17 Jan 30, 2009
OBama would go a long way in easing America's concerns over this $1,000 Billion spending bill, if he would simply revise his estimated job creation numbers from 3 million to 30 million.
Lied to by Obama

AOL

#19 Jan 30, 2009
WE HAVE BEEN LIED TO ALREADY BY OBAMA--- HE SAID HE WOULD HAVE A FORECLOSURE MORATORIUM. WELL WHERE IS IT !!!!! INSTEAD HE IS HAVING A BOOM DAY FOR LAWYERS BY LETTING PEOPLE SUE FOR UNEQUALLED WAGES. WHAT IS THIS GUY DOING FOR THE PEOPLE THAT NEED SOME HELP BECAUSE OF JOB LOSS. N-O-T-H-I-N-G !!!! Every single day more than 2200 families are put out of their homes now that is 5000 people A DAY!!!
YOU LIED TO US OBAMA!!! MAKE GOOD ON WHAT YOU SAID YOU WOULD DO NOW!!!!
Obama calls for 90-day foreclosure moratorium
Obama lays out economic 'rescue' plan
Oct. 13: Speaking in Ohio, Barack Obama lays out specific steps he would take to help U.S. business and consumers begin the road to economic recovery.
MSNBC
Reuters Final push
Presidential candidates Barack Obama and John McCain make their final appeals to voters.
updated 3:34 p.m. MT, Mon., Oct. 13, 2008
WASHINGTON - Democrat Barack Obama, bidding to extend his lead in the polls, proposed Monday to put home foreclosures on hold and give tax breaks to businesses that create jobs, while Republican opponent John McCain issued veiled but stinging criticism of the Bush administration.
With the U.S. economy threatened with an extended and deep recession, both candidates were mining deep anxieties among voters who watched helplessly last week as the stock market plunged nearly 20 percent, wiping away billions of dollars in retirement savings. Tens of thousands of Americans already have lost their homes to foreclosures and unemployment continues to climb.
Speaking in Toledo, Ohio, Obama laid out four new proposals that included a 90-day moratorium on home foreclosures by some banks, a $3,000 tax credit for each new job created, as well as a plan to let voters withdraw without tax penalties up to 15 percent, to a maximum of $10,000, from their retirement savings plans through the end of next year.
The Democrat's four-point proposal included a special federal fund that would lend to state and city governments as the economy contracts and local tax revenues shrink.
Obama said that banks participating in the $700 billion Wall Street bailout plan should temporarily postpone foreclosures for families making good-faith efforts to pay their mortgage.
"We need to give people the breathing room they need to get back on their feet," he said, adding that families living beyond their means share some of the responsibility.
More of this story at http://www.msnbc.msn.com/id/27163985/
Foreclosures up a record 81% in 2008
Filings continued to soar through the end of the year - and there's no relief in sight for 2009.

NEW YORK ( CNNMoney.com )-- U.S. foreclosure filings spiked by more than 81% in 2008, a record, according to a report released Thursday, and they're up 225% compared with 2006.
A total of 861,664 families lost their homes to foreclosure last year, according to RealtyTrac, which released its year-end report Thursday. There were more than 3.1 million foreclosure filings issued during 2008, which means that one of every 54 households received a notice last year.
"Clearly the foreclosure prevention programs implemented to date have not had any real success in slowing down this foreclosure tsunami," said James Saccacio, CEO of RealtyTrac in a statement.
And despite those efforts on the part of both the government and the banking industry to quell the housing crisis, defaults continued to climb as 2008 came to an end. Foreclosure filings were up 17% in December over November, and rose 41% compared with December of 2007.
read more at: http://money.cnn.com/2009/01/15/real_estate/m ...
MIDutch

Waterford, MI

#20 Jan 30, 2009
Lied to by Obama wrote:
WE HAVE BEEN LIED TO ALREADY BY OBAMA--- HE SAID HE WOULD HAVE A FORECLOSURE MORATORIUM. WELL WHERE IS IT !!!!!
Uh, he's been in office for one week and three days. Perhaps, it takes a little longer than that to get stuff done in the quagmire bureaucracy known as the US government.

Personally, I was very much hoping that a Republican would win the election just past, because then it would have been a Republican getting blamed for NOT fixing Bush's mess within hours of having been sworn in.

It doesn't take very long to get into deep trouble, but it often takes a VERY long time to get out of it. I truly wish it would have been the Republicans burdened with that impossible task.
Lied to by Obama

Australia

#21 Jan 30, 2009
MIDutch wrote:
<quoted text>
Uh, he's been in office for one week and three days. Perhaps, it takes a little longer than that to get stuff done in the quagmire bureaucracy known as the US government.
Personally, I was very much hoping that a Republican would win the election just past, because then it would have been a Republican getting blamed for NOT fixing Bush's mess within hours of having been sworn in.
It doesn't take very long to get into deep trouble, but it often takes a VERY long time to get out of it. I truly wish it would have been the Republicans burdened with that impossible task.
Sorry, I don't buy your excvuse for him. Every week he delays that's another more 35,000 made homeless. he sure seems happy to give Lawyers a new windfall field of litigation. It takes a few hours to draft and sign an executive order to moratorium foreclosures. WE HAVE BEEN LIED TO!!!!And Obama is ignoring a ticking time bomb. At some point all these a large number of these newly homeless turn to crime. And when there are enough of them they will turn to revolution. He had better get his priorities straight. If it gets to revolution all bets are off, and the "Change" that he promised but was empty talk, and all he did was continue kowtowing to the elite, the "Change" will be made by the people. At least he has Kenyan citizenship to escape to if it comes to that. Read the news everywhere. people are PISSED OFF and VIOLENT CRIME INCIDENTS are tripling in frequency everywhere.

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