The Instigator
bigbass3000
Pro (for)
Losing
12 Points
The Contender
Creator
Con (against)
Winning
18 Points

POFO debater only please.

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Voting Style: Open Point System: 7 Point
Started: 3/29/2008 Category: Politics
Updated: 9 years ago Status: Voting Period
Viewed: 931 times Debate No: 3430
Debate Rounds (3)
Comments (2)
Votes (10)

 

bigbass3000

Pro

Resolved: That the Economic Stimulus Act of 2008 will successfully mitigate economic slowdowns over the next year.

Definitions:
Successfully- Achieving the desired effect
Mitigate- decrease
Year- 2009

Contention 1: Money into economy

Whereas the Economic Stimulus Act is giving roughly $106 billion dollars to citizens that qualify, spending will increase within the nation. When this occurs companies are able to profit in turn mitigating the current recession. The recession is caused by citizens who're incapable due to debt (for the most part) from purchasing goods. As companies suffer due to loss in profit due to lack of buying, the economy suffers.

Contention 2: Federal Reserve

A)Money and Rates:

The Federal Reserve had injected $24 billion into the U.S. banking system and lowered the federal funds rate below the usual target rate of 5.25% to help stabilize the economy, August 9, 2007. Since then, the rates of the Federal funds rate have been reduced to its current level of 4.25%. Basically this means in addition to the economic stimulus alone, the Fed. Reserve is working with the banks of the U.S. to help lower the amount that banks are charged when they make an overnight loan to one another. This helps the economy by taking less money away from the banks, allowing it to fuel the economy, and at the same time giving direct funding to the economy in banks. This helps mitigate the economic recession.

B)Foreign and Central Banks

Through actions between the Federal Reserve and foreign central banks such as the European Central Bank (ECB) and the Swiss National Bank, the Federal Reserve was able to alleviate some funding pressures by making greater liquidity (ability or ease to convert assets into cash) available. Lines were established between the ECB and the Federal Reserve to swap currency, which funds non-U.S. institutions that would usually go to the interbank market as opposed to the U.S. Through liquidity provided from the ECB's short-term funding of about $500 billion, markets have been able to recover on an international level. Essentially U.S is working with foreign banks to circulate money, helping to raise the value. Pressures on the economy are being alleviated through the liquidity of the Federal Reserve. Also, through the ECB's funding in the interbank, some markets are able to recover.

Contention 3: Hirer wages

Higher wages are an easy way to increase economic activity in the sense that it increases the amount people are able to spend on U.S markets. Now it's easy to say that there are no guarantees that the money will be spent on personal ventures, but the fact of the matter is that many Americans are in over their heads in debt, and this hurts companies when these citizens aren't able to pay. This increased wage can easily help to pay back loans, and debts acquired through the years and this directly influences the economy. This may look like a costly method, but it is effective and will essentially benefit companies in general, and perhaps save this nation from facing a great economic recession.
Creator

Con

Creator forfeited this round.
Debate Round No. 1
bigbass3000

Pro

I guess all I have to say really to get my character is vote Aff, please, my opponent is not debating me.
Creator

Con

Creator forfeited this round.
Debate Round No. 2
bigbass3000

Pro

I realllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyy
don't know.
Creator

Con

im cooler im cooler im cooler im cooler im cooler im cooler im cooler im cooler im cooler im cooler im cooler im cooler im cooler im cooler im cooler im cooler im cooler im cooler im cooler im cooler im cooler im cooler im cooler im cooler
Debate Round No. 3
2 comments have been posted on this debate. Showing 1 through 2 records.
Posted by Creator 9 years ago
Creator
Did you even break at nat quals or compete, did u break at state or even break at state quals, and im going to nats in congress
Posted by bigbass3000 9 years ago
bigbass3000
Shut up Josh really you could not even win to get to nationals.
10 votes have been placed for this debate. Showing 1 through 10 records.
Vote Placed by jmlandf 8 years ago
jmlandf
bigbass3000CreatorTied
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Vote Placed by aodanu16 8 years ago
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Vote Placed by A-ThiestSocialist 9 years ago
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Vote Placed by liberalconservative 9 years ago
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Vote Placed by Spiral 9 years ago
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Vote Placed by ETKANG 9 years ago
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Vote Placed by bigbass3000 9 years ago
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Vote Placed by alvinthegreat 9 years ago
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Vote Placed by CHS 9 years ago
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Vote Placed by Creator 9 years ago
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