Robert Reich calls for $500 TRILLION in infrastructure spending

[Zebedeo]

Go to 7 min. 48 sec. in this video of his appearance on The Last Word tonight.

The annual budget of the U.S. government is around $3.5 trillion. The entire gross domestic product of the United States is about $14.7 trillion. Robert Reich very clearly said "500 TRILLION," with emphasis on the word "trillion," so it is hard to claim that he meant billion. Embarrassing.

[PoliticAverse]

1. A trillion here and a trillion there and pretty soon you're talking a lot of money... n/t

[steve2470]

2. over how many years ? nt

[Zebedeo]

6. He didn't say

but since the GDP of the entire world is only $58 trillion, his figure of $500T in new spending on infrastructure seems more than a little . . . well . . . stupid.

[bluestateguy]

3. Does that much money exist?

I am reminded of Dr. Evil demanding 100 gajillion bazillion dollars.

Seriously, I am fine with a stimulus of $1.5 trillion. But I guess that makes me a DLC Blue Dog corporate sellout.

[Zebedeo]

7. I don't believe so.

The GDP of the entire world is about $58T.

[IndyPragmatist]

22. It doesn't, but it could....

"But the U.S. government has a technology, called a printing press (or, today, its electronic equivalent), that allows it to produce as many U.S. dollars as it wishes at essentially no cost."
-Ben S. Bernanke

[Manifestor_of_Light]

4. Sen. Everett Dirksen said that back in the 1960s.

"A million dollars here and a million dollars there and soon you're adding up to real money."

[tblue]

5. Do numbers go that high?

Wouldn't that be all the money in the world?

Robert Reich is brilliant, but I wonder if he misspoke.

[pinboy3niner]

9. They go higher--brazillions, even

[Major Hogwash]

14. OMFG! ROFLMAO!

I knew that joke wouldn't die no matter how many times we buried it!

[joshcryer]

8. I'm sure he meant billion. Obama's plan is going to be closer to $150 billion.

[ProgressoDem]

10. What, he absolutely misspoke.

Oops! So embarrassing.

(Edit for spelling. Made a small mistake. HOW EMBARRASSING.)

[Starbucks Anarchist]

11. He had to have meant billion.

Honest mistake.

[Trillo]

12. Isn't there something about a 600 Trillion derivative bubble?

Maybe he's suggesting something related to backing the outstanding derivatives thorugh the upward sucking financial system we have. <---- purely speculative.

[Selatius]

13. I'll tell you one thing. 500 billion would likely forestall another recession.

If you wanna zap the economy awake though, I'd recommend a bigger and massive WPA style jobs program. Maybe as big as the 900 billion used to bail out corrupt bankers. It would make Obama a hero of the working class.

[Kennah]

15. ASCE has noted a $2.2 trillion dollar need in infrastructure

I think clearly Reich mispoke. Either that, or he is secretly Dr. Evil.

http://www.asce.org/reportcard/
http://www.asce.org/economicstudy/

[Firebrand Gary]

16. What is after Trillion?

[PoliticAverse]

17. A new currency... n/t

[pinboy3niner]

20. Well...

http://www.jimloy.com/math/billion.htm

[NYC_SKP]

24. After TRIllion:QUADrillion. Million, Billion, Trillion, Quadrillion.... quint, sext, sept, oct...

:hi:

[sam11111]

18. 154 Trillion is US wealth

http://www.federalreserve.gov/releases/z1/Current/accessible/l5.htm

Bottom line, next-to-right cell

We can pay the Debt with NO cuts and restore all cuts since 1980 then end all poverty, get FREE healthcare, free college, fat ss pensions, new med research and cures, etc.

Or we can let the GOP keep on framing the debate and ignore this 154 trillion fact.

Even here people never comment on it, don't seem to know of it, perhaps don't believe it even tho it is from a government site .. Federal Reserve. How solid a source can one get?

Amazing how the RW can block out a fact from peoples minds. I am truly astounded.

[Uben]

19. Wonderful idea!

...get them presses rollin at the mints cuz that's gonna take a while! I'm investing in paper and ink!


412 people could change the American economy for the better. That is the number of billionaires in the U.S.

"The needs of the many outweigh the needs of the one, or the few." If only......

[Bragi]

21. It's a mis-speak. Reich is a progressive and knowledgible economist. /nt

[trumad]

23. He clearly meant a billion...

Reich has forgotten more economics that you'll ever know in your lifetime.

Doucehbag thread.

[marmar]

25. This thread is embarrassing.

Is this the best you can come up with?

[Puglover]

26. So?

I'll alert the media. He misspoke.