Author Topic: The Stimulus Package  (Read 5329 times)

Offline duke_of_earl

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Re: The Stimulus Package
« Reply #42 on: 09-08-2011, 09:34pm »
Just following up on this article since it's likely going to be repeated ad naseum by the promising field of republican candidates.  How does a company that never had any profits get a $525 million dollar loan at 1.025% and then (surprise) manage to burn it all in 2 years?

duke

FBI Raids 'Connected' Energy Firm Solyndra

By MATTHEW MOSK and RONNIE GREENE
ABC NEWS and iWATCH NEWS

Sept. 8, 2011

The FBI has confirmed to ABC News that federal agents are conducting a search this morning at the offices of Solyndra, the now-bankrupt California solar power company that received $535 million in federal loans under a green energy program touted by President Obama.
 
The raid is part of a joint operation between the FBI and the Department of Energy's Office of Inspector General, Public Affairs Specialist Peter D. Lee said Thursday morning. Lee said he could not disclose the reason for the raid because the matter is under seal. Karen Sulier, a spokeswoman for the Department of Energy's inspector general's office, confirmed its part in the probe.
 
Beginning in March, ABC News, in partnership with the iWatch News/the Center for Public Integrity, was first to report on simmering questions about the role political influence may have played Solyndra's selection as the Obama administration's first loan guarantee recipient. Federal auditors had flagged the loan, saying some applicants had benefitted from special treatment.
 
One of the lead private investors in Solyndra was an Oklahoma billionaire who served as an Obama "bundler," raising money during the 2008 presidential campaign.
 
The bundler, George Kaiser, has declined to comment. His firm, Argonaut Ventures and its affiliates have been the single largest shareholder of Solyndra, according to SEC filings and other records. The company holds 39 percent of Solyndra's parent company, bankruptcy records filed Tuesday show.
 
...

Offline MCA™

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Re: The Stimulus Package
« Reply #41 on: 09-01-2011, 11:47am »
Issue isn't so much of the Chinese solar cells hitting the US market, it is more a concern in the global market (where everyone but the US seems to be moving towards solar energy)




Offline jarze

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Re: The Stimulus Package
« Reply #40 on: 09-01-2011, 11:36am »
All I can think about when I hear "The Stimulus Package" is sex toys and porno titles.



Online jehu

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Re: The Stimulus Package
« Reply #39 on: 09-01-2011, 10:34am »
Wow, you sound like a protectionist there! whatever happened to the free-market economy?

Issue isn't so much of the Chinese solar cells hitting the US market, it is more a concern in the global market (where everyone but the US seems to be moving towards solar energy)

 



Yeah, that sucks. Not much you can do when the Chinese are dumping solar cells at lower then costs.

that wouldn't happen if we put proper tariffs in place to prevent the chinese from flooding our markets with their cheap merchandise
Darna: could someone please splain to me why a person in a gang is called a gangbanger but a gangbang has nothing to do with gang activity?

shahaggy: can't believe I'm saying this but +1 jehu

[02:58 PM] MCA: it's not stalking, it's caring enough to find out things she won't tell you herself

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TheFang: as much as it pains me to say, jehu might be right.

One time, I hired a monkey to take notes for me in class. I would just sit back with my mind completely blank while the monkey scribbled on little pieces of paper. At the end of the week, the teacher said, "Class, I want you to write a paper using your notes." So I wrote a paper that said, "Hello! My name is Bingo! I like to climb on things! Can I have a banana? Eek, eek!"

Offline shahaggy

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Re: The Stimulus Package
« Reply #38 on: 09-01-2011, 10:26am »
Yeah, that sucks. Not much you can do when the Chinese are dumping solar cells at lower then costs.

that wouldn't happen if we put proper tariffs in place to prevent the chinese from flooding our markets with their cheap merchandise
[04:53 PM] Soshin: I don't think I've ever had fig spread Darna but I like figs and they make my sphincter sing power ballads

[12:48 PM] Bobblehead: Yo, you know I'm really happy for you and Ima let you finish, but soshin had one of the best meercat shouts of all time

[10:23 PM] skwirrlking: you submitting darna for beards eating cupcakes - mca?

[03:24 PM] Darna: [03:22 PM] jeht'aimeu: skw, you are climbing up my pole as well... 

[02:28 PM] propscene: I DPON"T MEAN I LOVE YOU DEEP INSIDE AS MUCH AS I LOVE HIM DEEP INSIDE OH GOD

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Offline duke_of_earl

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Re: The Stimulus Package
« Reply #37 on: 09-01-2011, 08:10am »
Yeah, that sucks. Not much you can do when the Chinese are dumping solar cells at lower then costs.

Ironic, given that the US company was doing the same thing.

duke

Offline Kindelan

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Re: The Stimulus Package
« Reply #36 on: 08-31-2011, 09:05pm »
I like the Stimulus Package. PSE&G hooks it up! Anyone else get the whole energy efficiency upgrade to your house for free? Awesome.

:elmo:

Offline Soshin

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Re: The Stimulus Package
« Reply #35 on: 08-31-2011, 08:04pm »
Yeah, that sucks. Not much you can do when the Chinese are dumping solar cells at lower then costs.

Well maybe if we just strip everybody of their health benefits, paid-time-off and retirement plans we can be competitive!  It's those damn pesky middle class values that are fucking it up for everybody else!  The Chinese have the right idea, make you work for pennies 24/7 until you jump out a window and can be replaced by some other sucker.
"god hates you. you will all go to yuppie hell. in yuppie hell there is no starbucks or hole foods or sushi bar. in yuppie hell you will work 16 hours a day in a bodega. in yuppie hell your car will not start when the sweeper is coming down the street. in yuppie hell your doorman will terrorize you and have sex with your wife or husband...when you are at work....in the bodega. in yuppie hell you will go to the laundromat and lose your last quarter in a broken washing machine. in yuppie hell you will buy all your food and clothing at the 99 cent store. in yuppie hell there are no cell phones, you will use a pay phone. a filthy pay phone".      -   Cat_Man Dude

Online jehu

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Re: The Stimulus Package
« Reply #34 on: 08-31-2011, 07:58pm »
Yeah, that sucks. Not much you can do when the Chinese are dumping solar cells at lower then costs.
Darna: could someone please splain to me why a person in a gang is called a gangbanger but a gangbang has nothing to do with gang activity?

shahaggy: can't believe I'm saying this but +1 jehu

[02:58 PM] MCA: it's not stalking, it's caring enough to find out things she won't tell you herself

[01:35 PM] shahaggy: fine but jehu's correct

TheFang: as much as it pains me to say, jehu might be right.

One time, I hired a monkey to take notes for me in class. I would just sit back with my mind completely blank while the monkey scribbled on little pieces of paper. At the end of the week, the teacher said, "Class, I want you to write a paper using your notes." So I wrote a paper that said, "Hello! My name is Bingo! I like to climb on things! Can I have a banana? Eek, eek!"

Offline duke_of_earl

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Re: The Stimulus Package
« Reply #33 on: 08-31-2011, 07:31pm »
Solar Energy Company Touted By Obama Goes Bankrupt

A California solar panel manufacturer which President Obama had made the poster child of his effort to expand the green economy and grow jobs has filed for bankruptcy, the company announced today.
 
Solyndra said “global economic and solar industry market conditions” forced it to abruptly shutter its Fremont, Calif., factory and immediately layoff more than 1,100 employees.
 
“Regulatory and policy uncertainties in recent months created significant near-term excess supply and price erosion,” Solyndra president and CEO Brian Harrison said in a statement. “Raising incremental capital in this environment was not possible.  This was an unexpected outcome and is most unfortunate.”
 
The White House did not immediately respond to ABC News’ requests for comment.
 
President Obama visited Solyndra in May 2010, heralding the company as “leading the way toward a brighter and more prosperous future.” He also cited it as a success story from the government’s $787 billion economic stimulus package.
 
“Less than a year ago, we were standing on what was an empty lot.  But through the Recovery Act, this company received a loan to expand its operations,” Obama said at the time. “This new factory is the result of those loans.”

 
In 2009, the Obama administration fast-tracked Solyndra’s loan application, later awarding it $535 million in guarantees from the stimulus funds.
 
The deal later came under scrutiny from independent government watch dogs and members of Congress, which said the administration had bypassed key taxpayer protections in a rush to approve the funds — claims the administration has denied.
 
Solyndra and the White House initially estimated that government financing for Solyndra would help create 4,000 jobs.
 
The company had received at least $475 million and created just 585 jobs., according to the most recent figures posted on Recovery.gov, which tracks Recovery Act projects.

Offline duke_of_earl

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Re: The Stimulus Package
« Reply #32 on: 03-31-2009, 07:12pm »
and "$2,700" with "over $21 billion and the morale of the entire US military service."

Ahh, the good old days....when $21 billion was a lot of money.   :P

duke

Offline AmbushBug

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Re: The Stimulus Package
« Reply #31 on: 03-31-2009, 12:55pm »


No haha, that is how the financial institutions the Bush administration have been working for the past 15 8 years....


Just substitute:
"a broken fence at the White House" with "Iraq and Afghanistan,"
"Three contractors are bidding" with "One contractor never had to bid,"
"One from Chicago" for "Halliburton and/or Blackwater"
and "$2,700" with "over $21 billion and the morale of the entire US military service."
A particularly Jersey malaise—the inextinguishable longing for elsewheres.

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Online jehu

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Re: The Stimulus Package
« Reply #30 on: 03-31-2009, 09:40am »
Three contractors are bidding to fix a broken fence at the White House. One is from Chicago , another is from Tennessee , and the third is from Minnesota .

 

All three go with a White House official to examine the fence. The Minnesota contractor takes out a tape measure and does some measuring, then works some figures with a pencil. "Well," he says, "I figure the job will run about $900: $400 for materials, $400 for my crew and $100 profit for me."

 

The Tennessee contractor also does some measuring and figuring, then says, "I can do this job for $700: $300 for materials, $300 for my crew and $100 profit for me."

 

The Chicago contractor doesn't measure or figure, but leans over to the White House official and whispers, "$2,700."

 

The official, incredulous, says, "You didn't even measure like the other guys! How did you come up with such a high figure?"

 

The Chicago contractor whispers back, "$1000 for me, $1000 for you, and we hire the guy from Tennessee to fix the fence."

 

"Done!" replies the government official.

 

And that, my friends, is how the new stimulus plan will work.




No haha, that is how the financial institutions have been working for the past 15 years....

Darna: could someone please splain to me why a person in a gang is called a gangbanger but a gangbang has nothing to do with gang activity?

shahaggy: can't believe I'm saying this but +1 jehu

[02:58 PM] MCA: it's not stalking, it's caring enough to find out things she won't tell you herself

[01:35 PM] shahaggy: fine but jehu's correct

TheFang: as much as it pains me to say, jehu might be right.

One time, I hired a monkey to take notes for me in class. I would just sit back with my mind completely blank while the monkey scribbled on little pieces of paper. At the end of the week, the teacher said, "Class, I want you to write a paper using your notes." So I wrote a paper that said, "Hello! My name is Bingo! I like to climb on things! Can I have a banana? Eek, eek!"

Offline Woodsy

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Re: The Stimulus Package
« Reply #29 on: 03-31-2009, 08:51am »
A nice reminder of how BIG the stimulus package really is (courtesy of the NY Times).




Offline shahaggy

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Re: The Stimulus Package
« Reply #28 on: 02-20-2009, 11:11am »
Three contractors are bidding to fix a broken fence at the White House. One is from Chicago , another is from Tennessee , and the third is from Minnesota .

 

All three go with a White House official to examine the fence. The Minnesota contractor takes out a tape measure and does some measuring, then works some figures with a pencil. "Well," he says, "I figure the job will run about $900: $400 for materials, $400 for my crew and $100 profit for me."

 

The Tennessee contractor also does some measuring and figuring, then says, "I can do this job for $700: $300 for materials, $300 for my crew and $100 profit for me."

 

The Chicago contractor doesn't measure or figure, but leans over to the White House official and whispers, "$2,700."

 

The official, incredulous, says, "You didn't even measure like the other guys! How did you come up with such a high figure?"

 

The Chicago contractor whispers back, "$1000 for me, $1000 for you, and we hire the guy from Tennessee to fix the fence."

 

"Done!" replies the government official.

 

And that, my friends, is how the new stimulus plan will work.

[04:53 PM] Soshin: I don't think I've ever had fig spread Darna but I like figs and they make my sphincter sing power ballads

[12:48 PM] Bobblehead: Yo, you know I'm really happy for you and Ima let you finish, but soshin had one of the best meercat shouts of all time

[10:23 PM] skwirrlking: you submitting darna for beards eating cupcakes - mca?

[03:24 PM] Darna: [03:22 PM] jeht'aimeu: skw, you are climbing up my pole as well... 

[02:28 PM] propscene: I DPON"T MEAN I LOVE YOU DEEP INSIDE AS MUCH AS I LOVE HIM DEEP INSIDE OH GOD

[12:58 PM] nikki: i feel like i should like the opposite of whatever jehu says

Offline TheFang

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Re: The Stimulus Package
« Reply #27 on: 02-17-2009, 07:07pm »
The lovely folks over at Pro Publica have published a breakdown of every bit of spending and of all of the tax cuts. There is also a really handy chart of the differences between The House and Senate versions of the bill.
"I can't help it, I'm a greedy slob. It's my hobby." -- D.D.

Offline TMN

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Re: The Stimulus Package
« Reply #26 on: 02-17-2009, 12:15pm »
so are you saying we should have spent even more money in Iraq?


Actually, yes.

While it’s no secret I’ve never been a supporter of the war, anything worth doing is worth doing right — a sentiment completely alien to Bush II, as well as his Defense Secretary, who wanted to prosecute two wars  “on the cheap”, for instance by making their soldiers have to buy their own body armor. The same President and Secretary who later failed to take care of those soldiers once they returned home, both by cutting the benefits they were promised, as well as the decent medical care they deserve.

Really, I think any idiot would have spent more on the Iraq war than Bush and Rummy did. Maybe if they'd planned the thing worth a damn, we wouldn't still be there five years and 4,000 dead Americans later.



See. AB, you and I can agree on something! If you are planning on participating in a War make sure you plan on WINNING it.
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Offline jcpeace

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Re: The Stimulus Package
« Reply #25 on: 02-17-2009, 11:41am »
so are you saying we should have spent even more money in Iraq?

Actually, yes.



i don't know if over stuffing the wallets of Dick Cheney's friends would be very stimulative for the overall economy....but I think that i get yr point.
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Offline AmbushBug

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Re: The Stimulus Package
« Reply #24 on: 02-17-2009, 10:21am »
so are you saying we should have spent even more money in Iraq?


Actually, yes.

While it’s no secret I’ve never been a supporter of the war, anything worth doing is worth doing right — a sentiment completely alien to Bush II, as well as his Defense Secretary, who wanted to prosecute two wars  “on the cheap”, for instance by making their soldiers have to buy their own body armor. The same President and Secretary who later failed to take care of those soldiers once they returned home, both by cutting the benefits they were promised, as well as the decent medical care they deserve.

Really, I think any idiot would have spent more on the Iraq war than Bush and Rummy did. Maybe if they'd planned the thing worth a damn, we wouldn't still be there five years and 4,000 dead Americans later.
« Last Edit: 02-17-2009, 12:13pm by AmbushBug »
A particularly Jersey malaise—the inextinguishable longing for elsewheres.

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Offline duke_of_earl

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Re: The Stimulus Package
« Reply #23 on: 02-17-2009, 08:56am »
It's ironic how a bridge to nowhere can become sound fiscal policy within three months.

Offline skwirrlking

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Re: The Stimulus Package
« Reply #22 on: 02-15-2009, 11:06am »
so are you saying we should have spent even more money in Iraq?

The New Republic has a great, thought-provoking piece on why the stimulus would benefit from more pork — in fact, far more. Basically, it follows the Keynesian argument that a stimulus package is a spending package: The whole point is to waste money, to inject it into the system. Chait gets to the meat of it in these two paragraphs:

Quote
A stimulus can shock the economy back to life if it happens quickly, but there are only so many useful projects you can spend money on really fast. Mass transit and new electrical grids take years to plan and build. There are worthwhile programs you can fund right away, but the list runs dry after a few hundred billion dollars. So the stimulus is less than half the size of the projected drop in output. It might be enough to stave off disaster, but then again, it might not.

Second, by emphasizing the worthiness of his spending proposals, Obama has allowed the debate to revolve around the merits of each project. Normal spending is judged on those terms--whether the goods or services justify their cost. The point of stimulus spending, by contrast, is simply to spend money--on something useful if possible, wasteful if necessary. Keynes proposed burying money in mineshafts, so that workers would be hired to dig it out. (Imagine what the GOP could do with material like that.)

World War II was an effective stimulus that, economically speaking, consisted of 100 percent waste. If war hadn't broken out, we could have enjoyed the same economic benefit by building all those tanks and planes and dumping them into the ocean.


I suggest everyone take a look




Offline AmbushBug

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Re: The Stimulus Package
« Reply #21 on: 02-13-2009, 02:31pm »
The New Republic has a great, thought-provoking piece on why the stimulus would benefit from more pork — in fact, far more. Basically, it follows the Keynesian argument that a stimulus package is a spending package: The whole point is to waste money, to inject it into the system. Chait gets to the meat of it in these two paragraphs:

Quote
A stimulus can shock the economy back to life if it happens quickly, but there are only so many useful projects you can spend money on really fast. Mass transit and new electrical grids take years to plan and build. There are worthwhile programs you can fund right away, but the list runs dry after a few hundred billion dollars. So the stimulus is less than half the size of the projected drop in output. It might be enough to stave off disaster, but then again, it might not.

Second, by emphasizing the worthiness of his spending proposals, Obama has allowed the debate to revolve around the merits of each project. Normal spending is judged on those terms--whether the goods or services justify their cost. The point of stimulus spending, by contrast, is simply to spend money--on something useful if possible, wasteful if necessary. Keynes proposed burying money in mineshafts, so that workers would be hired to dig it out. (Imagine what the GOP could do with material like that.)

World War II was an effective stimulus that, economically speaking, consisted of 100 percent waste. If war hadn't broken out, we could have enjoyed the same economic benefit by building all those tanks and planes and dumping them into the ocean.


I suggest everyone take a look


A particularly Jersey malaise—the inextinguishable longing for elsewheres.

                         -Junot Díaz

Offline Frank M

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Re: The Stimulus Package
« Reply #20 on: 02-12-2009, 02:05pm »
The $650 million for people ot get digital cable boxes rather than analog is a big fucking waste of money, that I definitely agree with. 


Maybe I got this wrong.  It's my understanding that all analog broadcasts will be terminated, whether transmitted over the air or via cable.  Every television set will require some kind of digital-to-analog conversion, which can be built-in to the TV or performed by a standalone unit. 

Either way, it's important that as many people as who currently receive a television signal continue to do so in the future.  Programming isn't the issue, that's not the purpose of television.  More importantly, what happens when so many are no longer subjected to television advertising, and how many millions of dollars is that worth?  Hmmm….

There is no analog cable out there any more that I know of, your cable box is already a D > A converter.  If you have an old TV and are watching the output of the cable box with a big thick coax cable going into the back of your TV then you are watching the analog output of a digital box already.  The converters are for people who watch free-to-air TV.

You are right about the advertising revenue, however the paranoid tin foil hat wearing fucknut in me sometimes thinks that there is a more sinister motive afoot.  TV is an important instrument of control.  If the government loses the ability to talk to the masses easily then people start to form their own ideas and the next thing you know you have rioting in the streets.  (I can hear you guffawng bdlaw  ;D  ).

The government knows this, just look at the televised James Brown concert in Boston in 1968 that helped prevent the rioting that had broken out across the country.

Okay, there ends my paranoia attack for the day.  If anyone needs me I'll be vacationing in Bohemian Grove until the summer....
 


Actually yes, analog cable is still around.  I have a TV from the mid-80's that pulls about 50 channels off the coax in my apartment.  No box.  The switch to digital transmission and decoding over the past several years means that cable companies rarely bother physically disconnecting the lines.  They can simply turn their non-paying customers' service off with a keystroke. 

(I don't think there's an argument over TV being a control mechanism, but I was being cynical enough as it was!)

Offline AmbushBug

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Re: The Stimulus Package
« Reply #19 on: 02-12-2009, 01:30pm »
Quote
So, although I have no problem with spending money on education, a hazily defined "summer youth program" sounds like a license to pour money down a hole.  A municipal government, Jeremiah Haly shaped hole.

That sounds like one big hole all right.
A particularly Jersey malaise—the inextinguishable longing for elsewheres.

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Offline justiceiro

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Re: The Stimulus Package
« Reply #18 on: 02-12-2009, 12:31pm »
Fango:

The question isn't whether or not these things would be nice to have.  They would be.  The question is do we need them, or rather, can we afford them, now.

I'm pretty confident that we are going to see some significant inflation due to this.  That means that every dollar that everyone has everywhere is going to be worth less.  If we take $0.08 cents of value off every dollar, we better create at least $0.09 in added value due to the stimulus.  This could get ugly.  Particularly hard hit will be the usual suspects, people on fixed incomes, etc.

So, although I have no problem with spending money on education, a hazily defined "summer youth program" sounds like a license to pour money down a hole.  A municipal government, Jeremiah Haly shaped hole.  I don't think its worth the money in Grandma and Grandpa's social security check that it will destroy.

Fiber Optic Cable is another case in point.  The TVA project created dams and made industry possible in the South.  I'm not sure that teh internets are as revolutionary an industrial enhancement as, say, electricity, nor as value creating.  Also, the boondoggle potential is enormous.  450 million dollars in state grants for the internet in Louisiana?  Soembody is going to make out like a bandit but it is unlikely to be schoolkids.  Anyway, that market is crying out for sexual release, so let Bangbros. build the cable and then sell them the porn on their own dime.  That's a stimulus plan I can get behind.

Who doesn't like Coast Guard ships?  They are nice and shiny white!  They have an orange stripe!  They are full of tanned young ensigns!  You are clearly a communist!


And seriously, the NEA has been a terrible idea from the beginning.  The only time that government funding for the arts worked was when it was WPA and we got awesome socialist murals and ansel adams.  Now you have a bunch of shit artists handing out grants to each other and funds going to Lincoln Center, a place they won't even let me into.  Artists working for the government is like Licensing whores through the Vatican.  Culture is overated anyway.

Every time I hear the word Culture I reach for my revolver!


And its you fault you were all delayed in Germany.  You thought the DB workers were human, when they are actually hostile genies.  You didn't ask the right questions!   SCHLECT! ;D
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Re: The Stimulus Package
« Reply #18 on: 02-12-2009, 12:31pm »