PEBO: Stimulus Package Won’t Be As Big As Some Economists Want Because of Concerns About Deficits

Oh, yeah,,it’s great to be here…ha..ha..ha.

“”Today the Congressional Budget Office announced that the deficit we are inheriting for this budget year will be $1.2 trillion,”…
Even after our economy “pulls out of its slide,” the President-elect warned, “trillion dollar deficits will be a reality for years to come.”
Ok I am trying to follow this. the current FY deficit includes $700B of TARP most of which hasnt been spent and what has been spent will mostly likely be repaid.
Yes TARP will incur some additional debt service but why would $700B in ’08 result in similar expenditures in ’09 and ’10? It wouldnt.
The base deficit is in the 300B range. If Obama is planning on having trillion dollar deficits (not Debt) the next few years then he must be planning on spending at least $2-3T for his stimulus. Right?
“Part of our stimulus package is going to involve revamping all federal buildings so that they’re energy efficient. ”
This is an example of a project that is not “shovel ready”. There is no way that this is happening in ’09, so any stimulating effect would be years away. Its an open question what the payback period would be on this investment but I am reminded of the Simpsons episode where Marge wants to spend a windfall on vinyl windows because then they can save 4% on heating bills.

Does anybody have a problem with the fact that the TARP bailout bill is more money than the cost of EVERY war our country has EVER fought since 1776!!! Anybody else get a little pause and wonder why we are doing that on top of the current wars we are waging overseas… Oh and don’t forget, Obama won’t raise taxes! Yeah Surre!!!

Why was he not pressed about how he runs around being president in terms of fiscal matters, but hides behind the “one president at a time” when it comes to foreign policy? Where’ the followup?
Good god reporters, do your damn jobs!

Maybe Mr. Go-along-get-along shouldn’t have voted for the bank “bailout” giveaway …
So … businesses, the cops and teachers, and “the middle class”. Nothing about the, uh, POOR there, STILL.
Nothing about National Health for those who are dying or wishing to because all the politicians have “socialized medicine” for themselves.
Nothing about calling off the escalation in Afghanistan because it costs too freaking much.

Why was he not pressed about how he runs around being president in terms of fiscal matters, but hides behind the “one president at a time” when it comes to foreign policy? Where’ the followup?
Good god reporters, do your damn jobs!
Posted by: beth | Jan 7, 2009 1:00:48 PM
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I think he may have answered that. One thing I think I realize he still hasn’t been able to do is unfreeze the brains that have been frozen for a long time. It’s probably going to take a while for that to happen by itself. That’s what happens when you’ve had your head in the sand for a certain period of time.

I cannot, for the life of me, understand how repubs can complain about an administration that technically doesn’t exist while completely ignoring the last 8 years of cover-ups, mediocrity, failures, misdeeds and corruption. Open your eyes and minds leave the rhetoric to the spin room. Thank you.

The only change coming from Obama is even bigger deficits. I didn’t think it was possible that a new president would be even more fiscally irresponsible than Bush. Obama has proven me wrong.

For the first time in history we have an incoming president appointing members of both parties to his cabinet. Republicans are sooo jealous they spew half truths.
And as Benjamin Franklin said, “A Half Truth Is A Big Lie.”

I do not understand how anyone would want the job of President of the United States. Especially now.

Lynn, Obama is not the President yet, he is NOT responsible for this mess and Bush is, Bush came into office in the black and went straight to work putting us into the RED as far as he could before leaving, he is insane and it is unbeleivable that anyone would or could make any excuses for him. He should be JAILED along with Cheney, well his whole gang of thugs and idiots.

If Republicans and Democrats are complaining about a 1.2 trillion dollar deficit that President Bush accumulated over 8 years, it seems hardly consistent with their frame of thought to propose a 1.3 trillion dollar stimulus plan to more than double that debt in the first part of this year. Both of these administrations are creating more deficit and as anyone who balances a budget knows, the bigger the deficit, the less money you actually have. I’m afraid of what is to come from this.

“thoughtful,understandable,and an answer we can follow….how refreshing”
Not really. What was the answer to Tapper’s question- was it the high side of $775B or 1.3T? Thats pretty big spread.
And whats going on that we will have “years” of deficits in excess of $1T? That implies that there is going to be a $700B stimulus in each of the next three years? Is that what you were expecting?

One thing is for certain we cannot continue to see jobs lost at this rate we have homes,families and work that needs doing. All the experts say a stimulus package is needed, we must at times spend money to make money. I wish that if someone has a better idea they would step forward and show us how it would work and I bet Obama would consider it. A plan of action is needed and to just say Oh no we are in 1.3 trillion debt, we will just sit back and hoard our money and watch everyone around us sink? We must get this economic machine running smoothly and work on all these problems even if it costs money or our way of life may go away.

“If the proposed stimulus is targeted to the middleclass, how many jobs will be created?”
Uh, don’t the “middle class” HAVE jobs?
Or does the Obama organization mean “the middle class” is the dwindling pool of merely-”displaced” people in the MIDDLE of the utterly-destitute underclass and the corporate rich uber-lords who installed Him?

The Perfect Stimulus Package-The government simply absorbs the remaining $350 billion from the stimulus bill and suspends the collection of all income and payroll taxes for two months. Even trade. This means that for two months you get your entire paycheck (well … less any State withholding). The government ends up with the same amount of money in its coffers, and the income earners in this country have some extra money to spend – an average about $2,000 per taxpayer – over the following two months. This plan puts the economic stimulus money right into the hands of the people who actually earned it in the first place. Can you imagine that? by: Neal Boortz Let’s start writing our congressman and senators now! Could something like this actually make its way through our Congress? Sure it could … if the voters demanded it. But hey …let’s get serious.

Tax his cow,
Tax his goat,
Tax his pants,
Tax his coat.
Tax his ties,
Tax his shirt,
Tax his work,
Tax his dirt.
Tax his tobacco,
Tax his drink,
Tax him if he
Tries to think.
Tax his cigars,
Tax his beers,
If he cries
Tax his tears.
Tax his car,
Tax his gas,
Find other ways
To tax this lass.

In addition to the election of a megalomaniac empty suit-one Barry Soetoro aka Barack Hussein Obama, about whom we, the people are permitted to know little (no access to school records, medical records, birth records) other than his anti-American friends, Marxist beliefs, win at all costs strategy–ACORN fraud, massive amounts of campaign contributions that are “untraceable,” among other such unsavory behaviors and involvements which reduce our nation to a banana republicesque laughing stock, we do know that he has severed a major artery within this country by his continual use of the “race card.”

Obama will play the RACE card and the BLAME game long as possible

I am a nurse and not an economic expert, but I know that the goal is to live within your means and try to be prepared for any crisis that comes along. I know also that the mortgage crisis is a result of making loans to people without strict guidelines for debt to ratio review and income that can support the cost of the home you are trying to buy. The experts in banking saw a way to let anyone in a home whether they could afford it or not and then sell that loan in pieces to anyone they could find to buy it and to hell with the outcome. These are the people who should be prosecuted, and Bush made sure there were no regulations in thier way and is trying everyday to get rid of as many regulations as he can so these predators can continue thier evil deeds.

You’re right BertieW – Infrastructure spending may be highly effective, but it most likely won’t stimulate the economy until late-2009, early 2010. That doesn’t mean it won’t benefit the country though. So how far are we into this recession that has already lasted longer than the previous two (1990 and 2001 recessions lasted 8 months each.)? Economist Nouriel Roubini believes the US economy is only half way through a recession that will be the longest and most severe since WWII. Even with the $750 billion stimulus (including 40% of the stimulus package in tax cuts for households and businesses) that amount will fall short of the pull-back in consumer spending. Personal consumption will sharply drop as a result of market losses, the disappearance of home equity, job losses, and tighter credit conditions. But Roubini believes in the economy that will eventually rebalance and restore the pre-Bush era saving rate.

“The bill prohibited the GSEs from holding portfolios, and gave their regulator prudential authority (such as setting capital requirements) roughly equivalent to a bank regulator. In light of the current financial crisis, this bill was probably the most important piece of financial regulation before Congress in 2005 and 2006,” reports the Wall Street Journal.
Greenspan testified that the size of GSE portfolios “poses a risk to the global financial system. It would be difficult, if not impossible, to bail out the lenders [GSEs] . . . should one get into financial trouble.” He added, “If we fail to strengthen GSE regulation, we increase the possibility of insolvency and crisis . . . We put at risk our ability to preserve safe and sound financial markets in the United States, a key ingredient of support for homeownership.”
Greenspan warned that if the GSEs “continue to grow, continue to have the low capital that they have, continue to engage in the dynamic hedging of their portfolios, which they need to do for interest rate risk aversion, they potentially create ever-growing potential systemic risk down the road . . . We are placing the total financial system of the future at a substantial risk.”
Bloomberg writes, “If that bill had become law, then the world today would be different. . . . But the bill didn’t become law, for a simple reason: Democrats opposed it on a party-line vote in the committee, signaling that this would be a partisan issue. Republicans, tied in knots by the tight Democratic opposition, couldn’t even get the Senate to vote on the matter. That such a reckless political stand could have been taken by the Democrats was obscene even then.”

After a little bit of research I found out it was really Democrats mainly Obama who was responsible for the financial crisis the banks are in now dragging the rest of the financial market with it.
Posted by: Liz diess Thanks Liz! I too was snowed by the main stream media, until I looked at other sources information. I have come to learn during this election so many were manipulated by editing and the suppression of the truth. The puntive liberals (with the help of the msm) destroyed and distorted any possibility of a fair election. The facts and associations were suppressed and spun. The election of pebo was nothing more than a whole country being manipulated by Saul Alinsky’s Best Student! For many of these Americans, the explanation was rather simple… the news media, completely enamored with Obama, simply refused to do their job. Americans were shocked that a man of Barack Obama’s limited experience, extreme liberal positions and radical political alliances could be elected President of the United States. But what is even more frightening than the sinister schemes of liberal politicians to silence and criminalize political opposition is the apparent eagerness of rank-and-file liberals to go along with them.

IDEA FOR THE ECONOMIC SOLUTION
New idea to create demand in residential real estate and solve the economic crises
1) Have a monthly lottery, where any home bought gets that buyer’s name entered.
2) On the 20Th of the following month on national television draw names per state based on the number of U.S. representatives that state has. The first name drawn in each state gets their purchase price paid back and 1 million dollars. The other names drawn will each get 100k
3) This should be retroactive to the first day that it is announced nationally so that those intending to buy property do not hold off until it begins.
4) Some TARP funds could be used for this and it can begin tomorrow.
5) This would mean that there would be 435 winners per month. Times 12 months equals 5220 winners per year. If 7 million homes are sold a year this gives you a 1/1340 chance of winning. This will help motivate people to buy houses, prices will stabilize and the economy will recover.
6) This is cheaper and wiser then throwing $ at the banks and it has a better chance of achieving results. Giving Banks money does not encourage them to lend. How can anyone blame them? Who would lend someone money against an asset that is falling in value? WE MUST STABILIZE HOME PRICES OR THIS ECONOMY WILL NOT RECOVER.
7) Putting the drawing on TV will give this idea incredible exposure. Companies will eagerly want to sponsor it and also throw in free prizes such as free cars, cruises, airline tickets, vacation packages etc. They have just as much to gain as consumers. This can actually become a national phenomenon and be a great deal of fun for the country.
Try to get Hollywood and Sports athletes involved in some fashion.
8) Also, there should be a zero % capital gains tax on any property purchased during the next year no matter when you sell it. This should only be on new purchases to help absorb some of the high housing inventory. Investors will snap up some properties and make things happen. This is a win win situation because no homes are selling anyway so there is no capital gains tax lost.
9) The situation is not really as complicated as people like Henry Paulson try to make it sound. In fact it is not Harvard economics it is simple 5th grade economics of supply and demand. We could eliminate supply by tearing down the excess inventory or we can stimulate demand with the ideas above, some variation of them or entirely new ones. Or we can wait until it happens on its own causing mass unemployment and foreclosures in the process.
ACTUAL COST OF PRIZE MONEY =1.062 BILLION (may be less with corporate sponsors)
ACTUAL POTENTIAL BENEFIT TO THE U.S. ……..PRICELESS.
We have nothing to lose. The money invested will stay in the economy and we are sure to gain back at least what was invested.
We need to get people involved, Television, Hollywood, Sports athletes. World War II was won by getting people involved, volunteerism, purchasing of war bonds etc. That is why we won.
Obama won the presidency by getting people involved. He is the person that can make this happen. He can make progress in 30 days if he announces this plan. Please pass this on to President Elect Obama.

The most unnerving aspects about the punitive liberals, is their intolerance for dissent and their willingness to censor and otherwise suppress their opponents.–
The democrats are prejudice. The only good thing about the hippie punitive liberals is- they are a dying breed! -Libertarians will win in the end. Long live Ayn Rand!

Liz,
I realize you want to be a good liberal, but your DEAD WRONG on the history of the this stuff.
Pres. Carter created the Community Reinvestment Act with a Democratic Congress.
Then in 1995, during the Clinton administration, the Democrats added new provisions that forced banks to issue $1 trillion in “sub-prime” loans.
To be fair, Phil Gramm, a republican, was also instrumental in this with the Gramm-Leach-Bliley Act. Which by the way had a major promoter in Larry Summers, then Clinton’s Sec. of the treasury. Now one of Obama’s “brilliant advisors”.
And NEVER EVER forget the MAJOR contribution of BARNEY FRANK! He pushed and pushed Freddie/Fannie to make bilions & billions of loans to people who had no way of paying them back. All in the good name of liberalism. It was Frank that led oppositon to many attempts of Bush & the Republicans to place more regulation on the mortgages industry.
Please, blame all those involved, not just those you disagree with due to partisan politics!

Thanks Mathew! I am so glad to see on this site a few Obama suppoters. I must sign out and get busy.

I am embarrassed to be an American. Democrats and Obama have made us the laughing stock of the world

Get over it: he’s a stammering figurehead, and fading fast. You’ve been had, Oprah’s been had (again), numerous celebrities in the glitter seats have been had. Get ready for a failed-state nightmare the pundits can’t spin, followed by untidy revolution. – President-elect Barack Obama, relatively young and inexperienced.* Now the media is finally concerned and asking Questions? ‘And I suspect, at the end of the day, we will pay an equally high price for Obama’s concealment of truth.

The comments on this blog are down right disgusting!!!! People are ALWAYS COMPLAINING with no solutions! Complain about the bailouts because Americans where not getting the money. Now there is a plan to provide jobs and give some tax relief. By the compainer standards…that is not enough or our deficit is getting bigger. To get money you have to spend/invest in it. That is what corporations/business/alike do it is call risking or investing. SOMEONE has to invision or invest in us Americas..HELL BUSH invest in banks why not invest in AMERICANS and it’s land. COMPLAINERS/WHINERS never get anywhere in live because everything ugly comes out and their thoughts are all dried up. THIS is a land of opportunity, visions, and investment. EITHER you get on board and make a difference or SHUT UP and ride the train and enjoy the benefits!!!!!

To Lisa Again(blogger)-saying dear God help us ,that Obama is just another Democrat at the helm. Since you used God’s name; in the bible( book of Esther), it did not look good-All the Jews were going to be killed – her uncle told Queen Esther “who knows maybe she had come to the kingdom for such a time as this.” Maybe Obama has come to position for such a time as this. If God is with him he will be sucessful like Esther was.

“WHAT ADO YOU THAT WHO ARE OPPOSED TO OBAMA’S FINANCIAL PLAN THINK HE SHOULD DO. PUT HIS HEAD IN THE SAND”
————————————–
No, he has Barney Frank doing that right now!
The first thing Obama needs to do is use the “bully pulpit” and be truely honest with the country and layout the history of the Community Reinvestment Act and all the events since then. Point out those who enabled this mess and those who did attept to fight it.
THEN, we can move forward with solutions that address the real issues with some confidence that we understand what we are doing. If we try to approach this as Barney Frank, Nancy Pelosi & Harry reid have done, the end result will be more bilions wasted on solutions that had no chance of working in the first place.
ALSO, he need to be upfront with people about this stimulus package. All this yapping about infrastructure is only going to help unemployed people from the construction industry. Right now, no one on either side of the aisle can tell us just how many people from the unemployment rolls could expect a job from that portion of his package.
In the spirit of openness and transparency that he promised, he should disclose to the Ameriucan people his expected cost per month in Afganistan and his EXIT STRATEGY so we know how much moeny we are expecting to spend there. (Remember he made a big deal all through the campaign about 10B/month in Iraq!)
He needs to pressure Reid/Pelosi to get the oversight of ALL the bailouts monies that Congress has appropriated so far on a web site so every American can see for themselves where all THEIR money is going!

Some of these comments are absolutely amazing! You would think Obama has been in office for years. But as usual the GOP and it propoganda sidekicks are doing damage control for a dying party that has to rethink and rebuild. How can anyone whom claims to be Republican possibly say with a straight face they have followed Barry Goldwater’s lead of less government and FISCAL RESPONSIBILITY? The problem with American History is that few Americans actually know Americam History. These issues were essentially the same when several months before the stock market crash of 29 that Republican genius Hoover said the economy was in great shape. Although alot of us were Reagan fans despite party affiliation people forget that after 8 years of Reaganomics and trickle down that we had the worst Savings and Loan crisis in history and left H.W. Bush holding the bag and ssaying ” Read My Lips No New Taxes” when he knew like the rest of us there was no way to address the issues without rasing taxes. When you present me with somene who can actually make tricle down economics work I will follow. The problem is that if the people in power who are supposed to trickle don’t, then nothing filters down. It goes into their private piggy banks. At least give Obama a chance to try. If things do not get better in fours years, the Dems will have no place to hide since they are in control. Meanwhile the GOP should spend more time addressing it’s own future rather than relying on old tactics from a platform that no longer fits America’s daily needs.

I am embarrassed to be an American. Democrats and Obama have made us the laughing stock of the world
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
HA.. The voters should be embarrassed of how they vote like sheep. They have the power to change this in two years.
Not by voting republican or democrat but by listening to policy wonks and voting for policy and not personality.
Stop voting for the guy that would be good to have a beer with and vote for the guy thats able and willing. STOP voting for anyone with big ad campaigns. ENOUGH.. before we all go down the tubes.

Accounts Receivable Tax
Building Permit Tax
CDL license Tax
Cigarette Tax
Corporate Income Tax
Dog License Tax
Excise Taxes
Federal Income Tax
Federal Unemployment Tax (FUTA)
Fishing License Tax
Food License Tax
Fuel Permit Tax
Gasoline Tax (currently 44.75 cents per gallon)
Gross Receipts Tax
Hunting License Tax
Inheritance Tax
Inventory Tax
IRS Interest Charges IRS Penalties (tax on top of tax)
Liquor Tax
Luxury Taxes
Marriage License Tax
Medicare Tax
Personal Property Tax
Property Tax
Real Estate Tax
Service Charge Tax
Social Security Tax
Road Usage Tax
Sales Tax
Recreational Vehicle Tax
School Tax
State Income Tax
State Unemployment Tax (SUTA)
Telephone Federal Excise Tax
Telephone Federal Universal Service FeeTax
T elephone Federal, State and Local Surcharge Taxes
Telephone Minimum Usage Surcharge Tax
Telephone Recurring and Non-recurring Charges Tax
Telephone State and Local Tax
Telephone Usage Charge Tax
Utility Taxes
Vehicle License Registration Tax
Vehicle Sales Tax
Watercraft Registration Tax
Well Permit Tax
Workers Compensation Tax
STILL THINK THIS IS FUNNY?
Not one of these taxes existed 100 years ago, and our nation
was the most prosperous in the world.
We had absolutely no national debt, had the largest middle
class in the world, and Mom stayed home to raise the kids.
What happened? Can you spell ‘politicians?’
And I still have to ‘press 1′ for English!?
I hope this goes around THE USA at least 100 times!!! YOU can
help it get there!!! GO AHEAD – - – BE AN AMERICAN!

Backpedal, backpedal, backpedal.

Democrats are like the crazy uncle you want to hide from. Where did i get that from. OH Obama said that about his racist Rev Wright that he later threw under the bus when he said Obama is a typical politician

Obama lowered GASOLINE prices.
Vote Obama

Welostintegrity: That’s right! The evil Liberal Media pulled the wool over the eyes of all those citizens who thought the country was on the wrong track. Otherwise voters surely would have demanded we continue the conservative free-market theology: middle class jobs outsourced, tax cuts for the rich, hand over Social Security to Wall Street, and growing the people living under the poverty line by 5.7 million.

During this election so many were manipulated by editing and the suppression of the truth. The puntive liberals (with the help of the msm) destroyed and distorted any possibility of a fair election. The facts and associations were suppressed and spun. The election of pebo was nothing more than a whole country being manipulated by Saul Alinsky’s Best Student!
intelligent vote? LOL-On November 4th, 2008 millions of Americans were shocked that a man of Barack Obama’s limited experience, extreme liberal positions and radical political alliances could be elected President of the United States. For many of these Americans, the explanation was rather simple… the news media, completely enamored with Obama, simply refused to do their job.

westlin…Although that is true….this is how cities/states/ and Americans are able to survive. The taxes goes from one hand to the next and it keeps busines moving in the USA.

“Welcome to the Obama years.”
The Obama WEEKS is more like it.

Sorry no one was duped in this election. The information for voters was online, in your face, news media, etc. No one was mis-inform. If so it was only by choice. People wanted someone different in office with a plan and MCGrumpy and Crazy Palin did not make the cut!

“President Lincoln LIED about the reason of the war and the CIVIL war had the biggest anti-war protest of any war in history but now Lincoln is a hero”
Yeah, that’s the way it usually goes: assassinate ‘em, wait a while, reinvent ‘em, put ‘em in the history books as “heros”: JFK, Martin Luther King, etc.
If nothing else, it sells a lot of textbooks, which is profitable for the publishers who manage what passes for mass “culture”.

Seems like no matter what Obama is asked, he is just beginning to formulate a study that will create a committee to figure out how we can solve the problem and at the same time save money for the taxpayers and when that is completed, they’ll get back to us with the plan in a timely manner — most like by posting it on a web site. More and more, it’s becoming evident that he’s nothing more than a lot of hot air with no substance.

we do know that he has severed a major artery within this country by his continual use of the “race card.”
He’s done with the “race card”, apparently — unless he needs it for Holder. Now He’s channeling crypto-Mormon Harry Reid. No wonder Oprah gained all that weight.

Seems like no matter what Obama is asked, he is just beginning to formulate a study that will create a committee to figure out how we can solve the problem and at the same time save money for the taxpayers and when that is completed, they’ll get back to us with the plan in a timely manner — most like by posting it on a web site. More and more, it’s becoming evident that he’s nothing more than a lot of hot air with no substance.
Posted by: MadeInUSA
Made- He is the consummate politician. He chimes in on issues where he can gain credibility or political points and says “there’s only one president at a time” on the controversial ones. Sort of like voting “present”.

Jana, 500 a person, 1000 a couple, welfare for those that don’t pay taxes anyway. It’s not going to work. The only thing that will work is Fair Tax, google that.

Interesting story. BO is actually telling people to trust him . . . because he will be spending more money and running bigger deficits!
I thought trust was equal to not spending more money and not running large deficits?
Lemmings of the world (that’s you Democrats)- see if you can’t get in touch with your comrade, BO and tell him not to run this country over a cliff.

“Sorry no one was duped in this election. The information for voters was online, in your face, news media, etc. No one was mis-inform. ”
Of course they were. The media has already admitted that they were massively slated. The Washington Post ombudman admitted that made a mistake in sending reporters to Alaska to cover Palin’s tanning bed bt not asking questions of Obama to get him past his Hope and Change puffery. Stories on the broadcast networks were 70% favorable to Obama and 39% favorable to McCain. Chris Mathrews admitted he was in teh tank for Obama. The Today show producer just said that they dont want to be seen having guest criticizing Obama at this time.
Polls taken of Obama voters after the election show that huge percentages dont know basic information about him.
The free media was majorly in the tank for the guy and he blanketed everything else with his billion dollar ad buy.

Does anyone think this amount of spending will help this or any economy?
I don’t.
Any economists on this blog? Join in if you’re here.
It’s my understanding that when government spends money it doesn’t create more wealth – it just spends more money, correct?

Rbarley ..there is only one president at a time. Otherwise if he did step in to resolve a problem YOU would be saying HE IS NOT THE PRESIDENT he should wait his turn. President Bush could handle the situation/crisis BEFORE obama takes office.
EITHER way it goes he can’t make complainer/whiners happy.

I hope BO can do some uniting but I don’t think so.
I remember back to his one major speech where where he used “typical white person.” Did anyone ever ask him what a typical white person is? Also, isn’t calling a member of your own family an example of racial profiling? I hope he’s really not like that. I still wish him luck.

Maybe their is time to save this country if we IMPEACH this scum Obama now

Yes Democrats want a free pass on all the corruption. They want Chicago style thug style politics through out the country.

Election09 impeachment…wow What about solutions?

That’s right Bertie! The press single handedly turned voters into zombies by not exposing “basic information” about Obama’s Birth Certificate and his secret membership in the Weather Underground. If it wasn’t for the evil Liberal Media no sane moral Caucasian would have voted for Obama. Well, except for the 90% who already thought the country was heading in the wrong direction.

“Bertie W…FAUX was in the tank for Mccain!!”
You are wrong as you can see by consulting the Pew Report “The Color of News”.
” * MSNBC stood out for having less negative coverage of Obama than the press generally (14% of stories vs. 29% in the press overall) and for having more negative stories about McCain (73% of its coverage vs. 57% in the press overall).
* On Fox News, in contrast, coverage of Obama was more negative than the norm (40% of stories vs. 29% overall) and less positive (25% of stories vs. 36% generally). For McCain, the news channel was somewhat more positive (22% vs. 14% in the press overall) and substantially less negative (40% vs. 57% in the press overall). Yet even here, his negative stories outweighed positive ones by almost 2 to 1.
”
Contrary to your claim Fox did more negative stories on McCain than positive. That hardly ‘in the tank’.

“And part of the package is going to be to help states who are under extraordinary budget pressures to prevent them from laying off more workers in vital service areas like teaching, law enforcement and so forth, so that not only are we saving jobs, we’re also making sure that states are able to provide basic services to their citizens at a time of critical need.”

“a lot of the investments are going to be around things like energy, health care, education, things that we need to be doing anyway.”

“I’ve said before I think it’s entirely appropriate for members of Congress to want to have some say in terms of projects that take place in their district. Many of the projects that they might advocate for are worthy. But isn’t the place to do it. And so I think it’s important for us not to have earmarks here. It’s important for us to have transparency in how the money is spent. I intend to make sure that we have unprecedented measures to ensure that taxpayers can keep track of how this money is spent.”

For McCain, the news channel was somewhat more positive (22% vs. 14% in the ….shows like HANNITY AMERICA. Thanks for proving my point. Fox news was in the TANK!

Thank goodness Bush and the Republicans will soon be finished. The country is in such pitiful shape I don’t think it could take any more.
And who benefited during the Bush administration? Who had record profits?
Big oil (isn’t the Bush family involved with big oil?); the military/industrial empire (wasn’t Cheney a CEO at Halliburton who came directly to VP?) and big banks (who got the big bail out?).
Talk about pork and corruption, these clowns deserve to be in jail.

CNN had an article Monday where the FBI was going to hire 800 new agents? I can see them for terrorism or kidnapping or major crimes, but in my town, 175 FBI agents were involved in string of massage parlor busts. They said agents had been dumpster diving for condom wrappers for 18 months prior to the bust. Seems like we have too many agents on the payroll already if we have trillon dollar shortfalls and all they can do is chase prostitutes. The operators have been in jail for 18 months without trial or bond….meanwhile Wall Street bandits run free on thier tax-funded performance bonuses earned for running thier companies into the ground. I guess this is just more Washington logic.

BO also said he was going to create millions of Green jobs from this stimulus package. Really?
What is a green job? Where would one go right now to apply for one? What’s the name of the company that hiring for these “green positions?”
Answer: there aren’t things such as green jobs. For a democrat – a green job is soemthing like turning down the thermostat in your office and recylcing. “Creating green jobs” is a catch-all. Liberal politicians use it on their audiences b/c they know it works the same way large chunks of unprocessed meat works when zookeepers throw it into the carnivore pen in the Big Cat exhibit at the —— zoo.

Here’s how the Republicans ran the government when they held Presidency and Congress.
REPUBLICAN GOVERNMENT
$421 Billion OVER BUDGET (2002)
$555 Billion OVER BUDGET (2003)
$596 Billion OVER BUDGET (2004)
$554 Billion OVER BUDGET (2005)
$574 Billion OVER BUDGET (2006)
They left the country with massive debts, a severely damaged economy and a terrible international reputation.
Even with the brightest and best minds working with Obama, recovering from this will not be easy.

Blame it on the Bush administration respectfulcitizen, they’ve been in power for 8 years and made major appointments to the courts, including the Supreme Court.

Regarding the increase in deficit spending since 2002, remember we have been in a war involving two major theaters of operation. As a matter of record, the years that the U.S. Goverment has “record” deficit spending have occured when the Democrats controlled Congress.
Unfortunately, for the future, in less than a single year, with military operations winding down, the Obamaites will more than double and most probably triple the highest deficit spendingever seen under the Bush Administration.

He HAS been in office for years, doing NOTHING all the while but serving time, voting “present”, taking credit for bogus books about His legend, and selling out His gullible supporters in favor of corporations posted by Belle
good point may I add:
… while His mob-friendly organization has moved him up the ladder to First Figure-head for His money-masters.During this election so many were manipulated by editing and the suppression of the truth. The puntive liberals (with the help of the msm) destroyed and distorted any possibility of a fair election. The facts and associations were suppressed and spun. The election of pebo was nothing more than a whole country being manipulated by Saul Alinsky’s Best Student! For many of these Americans, the explanation was rather simple… the news media, completely enamored with Obama, simply refused to do their job. Americans were shocked that a man of Barack Obama’s limited experience, extreme liberal positions and radical political alliances could be elected President of the United States.

The Republicans held both the Presidency and the Congress through all those years where massive deficits were rung up.
Bush and the neo-cons pet war against Iraq killed and maimed tens of thousands of people on their own homeland and rang up these deficits.
$421 Billion OVER BUDGET (2002)
$555 Billion OVER BUDGET (2003)
$596 Billion OVER BUDGET (2004)
$554 Billion OVER BUDGET (2005)
$574 Billion OVER BUDGET (2006)
Make your excuses as you may.

“That’s right.!! Another Clinton administration official…”
Clearly the Clintons (or whoever) have coerced the “Obama” organization to let THEM be the government, with Barack as the media figure-head. Otherwise, it’s inconceivable He’d reconstitute the whole sorry shooting-match, after having promised “change”, and railed against the 90s, 60s and so on. ESPECIALLY Eric Holder … THAT’s just inconceivable, otherwise.
If some of those who KNOW what went down will just out Him NOW, we can skip months or years of embarrassing hassle, riots in the streets, etc.

SUNDAY, SEPTEMBER 21, 2008 (AP)
Bush Called For Reform of Fannie Mae & Freddie Mac 17 Times in 2008 Alone…
Dems Ignored Warnings
For many years the President and his Administration have not only warned of the systemic consequences of financial turmoil at a housing government-sponsored enterprise (GSE) but also put forward thoughtful plans to reduce the risk that either Fannie Mae or Freddie Mac would encounter such difficulties. President Bush publicly called for GSE reform 17 times in 2008 alone before Congress acted.
Unfortunately, these warnings went unheeded, as the President’s repeated attempts to reform the supervision of these entities were thwarted by the legislative maneuvering of those who emphatically denied there were problems.

“Regarding the increase in deficit spending since 2002, remember we have been in a war involving two major theaters of operation.”…..Yes and the absolute mis management of the wars as admitted by Bush, Powell and any number of WH officials, military analysts, etal contributed greatly to those huge deficits. A blundering administration tolerated by both parties in Congress coupled with an unbelievable number of business morons and crooks and goofball consumers who thought they could have everything for nothing down put most of us in the soup. We’re probably going to be there for a long time if not forever.

The short term benefits are far outweighed by the transitioning of the U.S. to the U.S.S.A. as we replace our market economy with a command economy controlled by the government. Throughout history, command economies have NEVER benefited the people they serve. The economist you cite should understand that increasing government bailouts or “economic stimulus” plans will bankrupt the country long before we could recover from a recession. If we let the market function as it should, we would see positive growth within 18 months. Supporters of Obama ignored his socialist characteristics during the election, but as he exacerbates the economic problems we face our people will hopefully demand true change -not just a catchy marketing gimmick.

How does going into debt more stimulate the economy? Are Obama and the Democrats serious about this spend your way to prosperity philosophy that has never worked in the past and won’t work this time? Why not cut budgets and start living within means like the rest of us have to?

“The Clinton Administration, however, allied with Rep. Frank, Sen. Kennedy (D-Massachusetts) and Rep. Waters (D-California), did an end-around by directing HUD … ”
HUD should be ABOLISHED, its EVERY past employee put out to pasture and barred from further public “service” employment (a good argument there for “guaranteed income” as envisioned by none other than Richard Nixon, and for National Health — if loss of position weren’t so ruinous, these hacks and crooks might embrace leisure), its victims compensated, and other arrangements made.
Some entities are so foul they can’t BE fixed, and HUD — as millions of people both in and out of government know — is one of them.

RBarley – Whoo boy those leftist radicals for social justice have teamed with the Lizard People to take over the elitist Liberal media owned by the socialist Illuminati to pull the wool over the eyes of the voters.

It’s not just a problem with government it is prevalent in our businesses and business practices. Let’s do it guy’s, lets just do it

Many of the citizens of this country have become weak, dependent and cowardly. Their repulsive hedonistic nature is causing them to relinquish their liberties for a convenient but false security. I never thought I’d see this in a country that takes pride in its individual freedoms and pioneer spirit, but I am witnessing it now and it is very sad. Unfortunately, the left is eager to assume control of their lives and their behavior. Wake up people before you have reached the point of no return.

“We have the ever-articulate and knowledgeable Barney Franks (remember in 1989 was found running a gay prostitution ring out of his DC house? Google it.) telling us how to spend the trillion dollar bailout plan money.”
Obama’s tossed His base, except for the “gay” movement organized by “post-partisan” corporados (Mary Cheney et al.) ahead of his supposed “grassroots” organizing.
The idea that anybody’d PAY to be intimate with Frank, however, is what’s TRULY frightening. Or was he the madam?

Incredible, The MSM is not reporting about the fact there are more ballots than registered voters in Minnesota

Pump up that scary hate! Oooooo police state! Ooooo gays! OOOooo riots in the streets! There HAS to be a conspiracy theory for why Obama was elected because NO WAY he’d have been elected otherwise after 8 glorious debt free happy years under George Bush. LOL

I love how Obama is already lowering expectations. What a fraud.

George W. Bush added more to the deficit than ALL 42 PRESIDENTS BEFORE HIM COMBINED. You cannot hide from this fact.

I don’t want to hear this crap about this huge stimulus being Bush’s fault. This is Obama and his responsibility. This economy has been coming on for decades but each one takes responsibility for his reaction to it.The causes are at least 4 decades old and brought on by a host of decisions, the chief one being good old American Greed. This Stimulus along with previous bailouts is staggering. I’m thinking we are going to far on this one judging by how little positve effect the other programs have had.

A 1.2 trillion dollar budget deficit, 3 wars, companies folding up right and left, and millions out of work. Thank you Mr. Bush. You did a fine job. We sure will miss you….NOT! ONLY 13 DAYS LEFT! What else can you screw up during that time you have left?

My bad with the grammar.

Obama supporters did you know you were actually voting for the Clintons.???
It is hard to give Obama credibility when all his appointments have been people who served under bill Clinton. today he announced the Chief Performance Officer. Nancy killefed. She was a Treassury dept. official under Clinton. Dr.Gupta was an advisor to Hillary Clinton 1997-1998. Leon Panetta, Bill Clinton’s Chief of Staff. CHANGE??…WHAT CHANGE..??

I just read a report on another network that says that THE PORN INDUSTRY WILL ASK
CONGRESS FOR A BAILOUT..!!!! No joke here. Look it up.!!!!

Mark–
Look forward to your comments in a year
or so….

Chief of Staff. CHANGE??…WHAT CHANGE..??
CW just what kind of change were you wanting? More George Bush?
I see us going from pretty far to the right to just a little left of the center. To me that is a
PRETTY BIG CHANGE !!

PAY THE DEFICIT FIRST!
1.2 trillion dollar? pay the damn deficit
and jumpstart the remains

“Doesn’t it go pretty much with out saying, we are coming in to this inheriting a 9 trillion dollar deficit, that is going to be with us for awhile? ”
No. 9T or 10T is the debt.
$1.2T is the new deficit. But even that number is funny since it contains a number of one time charges such as TARP and the Fannie Mae buyout. Those one times are non-reoccuring charges and in the case of TARP the actual cost is projected to be nothing like $700B. The deficit for 2008 had been projected at around $400B but need for TARP and Fannie Mae has driven it to 1.2T according to the CBO web site.
But there is no reason why the baseline for 2009 and 2010 should be over a trillion. You arent going to do TARP again. So the only way you get to a trillion dollar deficit each year is if Obama plans on a 600-700B stimulus each year. Maybe even more since you would have an offset of recovered TARP monies.
Those are enormous numbers- it would be like building a entire new Department of Defense each year.

Oh don’t be silly. The budget deficit is now so large that they’re going to have difficulty finding other countries to fund it. Time to live within our means, make the eligibility age for social security higher than average life expectancy like when it was invented, stop keeping troops in 130 countries, etc… It’s all do-able.

It is undeniable Bush ran up record deficits 2002, 2003, 2004, 2005 and 2006 with Republican control of Congress, any way you want to rejig the numbers.
Bush and the Republicans dug the hole and it will be a long time before the country can climb back out of it.
As Bush said after 9/11, the big secret . … go out and spend. Good advice.

Oh great Obama, oh great Obama, will you now kiss and make up with Osama?

Of course the entitlement programs are going to be scrutinized, which means the seniors are at risk–the age group who basically have little say in their behalf. Social Security & Medicare are perhaps the most costly of the govt. budget, but there is a lot of “pork” for states from Congressmen. Why aren’t these reviewed instead of being “sacred cows” not to be touched?

Senior,
Like I said, we were DUPED into voting for Obama, if what you say are the facts, referring to entitlements. NO ONE campaigned harder for him than I. I will be totally disgusted if he does not keep this promise.

Regular readers have probably noticed that whenever an ABC story tends to be controversial,their editors always opt for this goofy, unreadable ‘online chat’ format. It ensures that comments will be as tedious to follow as a Federal Reserve meeting. Speaking of, if Obama truly wants to save what’s left of this country, he has a simple option– start by abolishing the Federal Reserve and their criminal banking cartel. There’s even a bill waiting for this purpose- HR 2577 ‘A Bill to Abolish the Federal Reserve’. Yet another “stimulus” will do nothing but hand our leaders a bigger shovel with which to bury us.