Feb 26, 2009 1:39pm

Obama: Budget Will Restore Fiscal Discipline

Introducing a budget outline that calls for nearly $1 trillion in tax increases over the next ten years, President Obama and his economic team today said the plan would restore fiscal discipline and "produce sustained growth and shared prosperity."

Titled "A New Era of Responsibility: Renewing America’s Promise," the 134-page document released today was an overview of the larger more-detailed document to be released in April.

Peter Orszag, director of the Office of Management & Budget, said without action, the country would accumulate $9 trillion in new debt over the next decade.

In a briefing for reporters, Orszag said the administration was "inheriting … a very significant budget deficit. Under current policies and without any policy intervention, our estimates suggest that we would face $9 trillion in budget deficits over the next decade. The first step in addressing this very deep fiscal hole is honesty. This budget will not play the games that are typically played, in which you assume that there will never again be a hurricane or disaster, that the Alternative Minimum Tax, which is a second tax system resting alongside the regular income tax, would be allowed to gradually take over the tax code, that the cost of the war in Iraq and Afghanistan will magically disappear overnight."

Orszag pointed out four ways the deficit will be reduced:

1- The recovery act and "normal business cycles" will cause the economy to eventually recover.

2- Allowing "high income tax provisions to expire when they are scheduled to expire, at the end of 2010" and closing tax loopholes.

3- "Winding down the war" in Iraq.

4- Making government more efficient.

The Bush administration’s tax cuts expire in the end of 2010, when Obama’s tax increases will take over. Among them, $636 billion in various tax increases over the next ten years from individuals making more than $250,000, and $353 billion in taxes to business.

The individual tax increases include a reduction in itemized deduction for charitable contributions. Orszag today defended that reduction, saying that the stimulus provides $100 million for charities and economic recovery will bounce contributions back.

Christina Romer, chairman of the President’s Council of Economic Advisors, predicted negative 1.2 percent GDP growth for 2009 but expected it to grow by 3.2 percent in 2010 and 4 percent in 2011. She also warned that unemployment could rise to more than 8 percent in 2009, but decline progressively over the next few years to 5.2 percent in 2013.

President Obama opened on a hopeful note as he made his remarks about the budget this morning. The president, touting the benefits of the stimulus package, reported good news.

“Starting today, the recently unemployed will benefit from a COBRA subsidy that will make health care affordable,” The president, said adding that 7 million more Americans who will be covered. “It is a direct result of the American Recovery and Reinvestment Act that I signed into law the other week.”

Pegging off his “good news” report President Obama — flanked by his economic team — acknowledged that in terms of his budget released today, that additions need made to the deficit in the short term to provide relief over the long run.

The president took a jab at budgets past by emphasizing that he believes his budget is an honest accounting document.

“For too long, our budget has not told the whole truth about how precious tax dollars are spent.  Large sums have been left off the books, including the true cost of fighting in Iraq and Afghanistan,” Obama said, “We need to be honest with ourselves about what costs are being racked up, because that’s how we’ll come to grips with the hard choices that lie ahead.”

Obama promised that when the full budget is developed in the spring that the administration will “go through our books, page by page, line by line, to eliminate waste and inefficiency," and promised that no part of the budget will be free from scrutiny or untouched by reform.

Obama said that lowering the debt in the long-term would be the only approach to solving the country’s fiscal problems. He acknowledging that sacrifice is needed — while there are certain things that people care about, there are some things that the country simply cannot afford right now.

“I don’t think that we can continue on our current course. I work for the American people, and I’m determined to bring the change that the people voted for last November. And that means cutting what we don’t need to pay for what we do.”

Noting that it will not “sit well” with special interests and lobbyists in Washington, Obama said that billions of dollars will be saved by rolling back tax cuts for the wealthiest Americans, and giving a middle class tax cut to 95 percent of working families.

Obama noted investments in renewable energy to make America more competitive and break free of dependence on foreign oil.

“We’ll be working with Congress on legislation that places a market-based cap on carbon pollution and drives the production of more renewable energy. And to support this effort, we’ll invest $15 billion a year for 10 years to develop technologies like wind power and solar power and to build more efficient cars and trucks right here in America."

On health care, the president said that the budget makes a “historic commitment to comprehensive health care reform”and that such investment will in the long term help bring down the deficit.

And finally Obama mentioned the investment into education the budget will make, matching resources with reform.

“A budget is more than simply numbers on a page. It is a measure of how well we are living up to our obligations to ourselves and one another. It is a test for our commitment to making America what it was always meant to be: a place where all things are possible for all people. That is a commitment we are making in this, my first budget, and it is a commitment I will work every day to uphold in the months and years ahead.”

Obama — accompanied in the room by Vice President Biden, OMB director Orszag, OMB deputy director Rob Nabors, domestic policy advisor Melody Barnes, Chair of the Council of Economic Advisors Romer, and head of the National Economic Council Larry Summers — took no questions from the audience of reporters, despite being asked.

“No questions today,” he answered leaving the room with his economic heavyweights. 

– Jake Tapper & Sunlen Miller

User Comments

Obama’s promise of truthful, transparent budget accounting is very exciting and long overdue.
Can someone direct me to the page of the budget where the Social Security IOUs are deducted from available funds for budget accounting?

Posted by: mad | February 26, 2009, 1:59 pm 1:59 pm

Do they have a clue what discipline is?

Posted by: ws134 | February 26, 2009, 2:00 pm 2:00 pm

Due to recent government spending increases, the cost of electricity, gas, and oil, as well as current marketconditions and the continued decline of the U.S. economy under this administration, The Light at the End of theTunnel has been turned off.We apologize for the inconvenience. ….

Posted by: sandcrab1612 | February 26, 2009, 2:04 pm 2:04 pm

That is awesome that the President and his staff have found ways to save taxpayer money. I hope that with the money that is saved we will be able to advance the Millennium Goals! There are 963 million people that go to sleep hungry every night, and we were only $30 billion away from eliminating global hunger. By helping these people it will in turn make us a safer and stronger nation. Our public image will become stronger and we will build new allies and countries to trade with. The benefits of helping those living in poverty are amazing

Posted by: cougar_gal06 | February 26, 2009, 2:08 pm 2:08 pm

How can he say with a straight face this budget won’t “sit well” with the special interests and lobbysits? That is laughable, not to mention completely dishonest. That is, unless big banks, unions, auto companies, environmental groups, the alternative energy companies, the new carbon-trading industry, and welfare recipients (to name a few) are not special interests. What a liar this man is.

Posted by: David Lampo | February 26, 2009, 2:13 pm 2:13 pm

You have got to be kidding?! Fiscal discipline? This is the worst spin/lie from any politician I ever heard. Tripling the deficit this year alone, when winding DOWN the war in Iraq (which was Bushes worst spending) is going to BUILD a larger deficit. Not mentioning the “EAR-MARKS” in the bill congress is pushing now… I wanted Obama to be eklected, and I really do want Obama to succeed, but his administration has got to stop the our right deceits.

Posted by: Bill K | February 26, 2009, 2:14 pm 2:14 pm

Discipline? To whom?

Posted by: RS | February 26, 2009, 2:15 pm 2:15 pm

Line by line, to eliminate wasteful spending.
Um, OK.

Posted by: vinman | February 26, 2009, 2:16 pm 2:16 pm

I think that President Obama’s speech is such magnificient and truthful but most people think that the stimulus bill will not work because the senate point the president out that it will be wasteful money and it is for our own good and cause as well. I think it will be spend on education, enegy, and health care. My mom couldn’t afford health care that she needs to get better. So, President Obama please help my mom to get the benefit she needs for her health.

Posted by: James Long Eagle Kilgore | February 26, 2009, 2:16 pm 2:16 pm

VET1973: Here’s a news flash that you missed: JUST BECAUSE YOU DON’T BELIEVE SOMETHING DOESN’T MAKE THE SPEAKER A LIAR; IT SIMPLY MAKES YOU A NON-BELIEVER. Enough with the immature name calling. If you have a point to make that you can defend, have at it.

Posted by: Mike in Carolina | February 26, 2009, 2:22 pm 2:22 pm

“giving a middle class tax cut to 95 percent of working families. ” This statement is nothing more than a play on words to gain approval points. It is impossible to give a tax break to 95% of working families and still expect to get income.

Posted by: NoSpin1600 | February 26, 2009, 2:22 pm 2:22 pm

The con is on. Our president is serving his party’s own self-serving vision of some strange utopia where there are no poor or uneducated or hungry. However, his policies will ultimately lead to more poor, uneducated, and hungry people. Stop trying to solve all problems by throwing monstrous amounts of money at them. We are not fools…this is not fiscal responsibility, it is highway robbery.

Posted by: professorjones | February 26, 2009, 2:24 pm 2:24 pm

Please Mr. Obama. I voted for you. But, the sky is not chartreuse. Discipline? Bailouts keep going and going.

Posted by: Geo | February 26, 2009, 2:25 pm 2:25 pm

Yeah, ya know, let’s not do anything except cut taxes.
Keynesian economics have been proven wrong now for decades.
The Republicans got it right. Don’t impose any restrictions on business, and the normal market cycles will take care of itself.
What’s 10 more million unemployed, millions more homes confiscated by the banks, and millions more bankrupt greyhairs going back to work while the younger generation waits its turn for five or ten years?
I’m voting for the Republican ideas to get us out of this catastrophe. I just can’t seem to recall what they are. Now where did they post their clear solutions…

Posted by: John Luma | February 26, 2009, 2:26 pm 2:26 pm

We are starting to learn the illusion of President Obamas words cannot be the reality

Posted by: smith | February 26, 2009, 2:32 pm 2:32 pm

Is this a joke? “Winding down the war” in Iraq is supposed to save our economy while asking for $200 billion for Afghanistan? Making government more efficient by increasing government spending and creating new agencies to oversee that spending?

Posted by: common_sense | February 26, 2009, 2:32 pm 2:32 pm

If this is his definition of “discipline” I don’t have much faith in the definition of transparency, accountability or truth.

Posted by: mia | February 26, 2009, 2:34 pm 2:34 pm

With that many trillion dollars all drug-addicts and unemployeds will be millionaire anyway. Obama should be able to bring unemployment to zero.
We need to stop this mad man somehow. Write to your Senators and ask them to stop bailout mania and stop this insane President.

Posted by: Sam | February 26, 2009, 2:34 pm 2:34 pm

We just adore and simply love President Obama here in Europe.I’m proud that my family lives and settled in the US,now that the president is The Most Hon.B.H.Obama.We believe in you Sir.

Posted by: Carolina Bautista | February 26, 2009, 2:36 pm 2:36 pm

Obviously spending eveything you have or that you can possibly borrow will enforce fiscal discipline. Isn’t this after all what “going broke” effectively causes, the inability to continue unwise spending! My recommendation is that taxpayers do whatever they can to “starve this government” of the funds it will use to oppress us. Work for cash whenever possible, under report your income, over estimate your deductions, work as little as you can get away with and still remain employed, etc,,,,

Posted by: Ed Weirdness | February 26, 2009, 2:36 pm 2:36 pm

It almost seems like President Obama is trying to destroy the economy.
That way he can increase the number of voters who pay no taxes to above 50% (it’s currently at about 40%). With all his guaranteed handouts, this group will always vote democratic and the democratic party will always stay in power.

Posted by: Open-Mind | February 26, 2009, 2:37 pm 2:37 pm

James Kilgore:I hope your mother gets better. Many people do believe that the stimulus will work. They just don’t talk as much as the people who are angry about the outcome of the election. We need health care reform for people like your mother. Some try to pretend that health care reform means free health care for people who don’t deserve it. ALL AMERICANS DESERVE ACCESS TO AFFORDABLE HEALTH. PEOPLE WHO MAKE A LOT OF MONEY IN THE HEALTH CARE INDUSTRY WILL TRY TO KEEP THINGS JUST AS THEY ARE. DON’T WORRY. A CHANGE IN HEALTH CARE WILL COME.

Posted by: Mike in Carolina | February 26, 2009, 2:37 pm 2:37 pm

We have been told over again it is Republicans that are rascally—now we know differently. You sure know ALL corporations, and this includes governmental agencies because they also are incorporated, have a single source for money whether they sell Services or Products; their customers. If anyone doesn’t realize by now they are going to pay the trillion dollars in new taxes one dime at a time by increased costs at the office or retail outlet where they purchase these items they are dreaming.
The truth of the matter is President Obama just double the taxes we pay. You may recall the budgets approved by Congress to run the Government in the recent past have been running plus or minus a Trillion dollars EACH year. When we consider all of the new programs Democrats are shoving down our throats, we must also acknowledge they are also shoving the bill to pay for those programs down our throats. Corporations don’t pay taxes–Oh they fill out the paperwork but every cent of their overhead (labor, parts, materials, rent, maintenance, TAXES accounting etc.) is included in the cost of the product or service they sell (we buy). Oh you don’t own an airplane or a bull dozer, well that may be true, but the company that does passes their costs to the users of these items to include the taxes they pay, and they pass those costs on to you. In reality it can’t be otherwise, whether we are a socialist, communist or a capitalistic Country. You should visit Italy and appreciate their Government includes a 40% tax on every meal eaten in a restaurant. Moreover wage earners pay income taxes that approximate 50%. Most recently, they elected a very conservative individual because those running their Government before were doing to them the same sort of stunts happening in these United States since the 22 of January 2009.
WE the customers pay all of the costs to run each business and our Government. Is there anyone, among our electorate, that doesn’t understand this is the case? Socialism merely adds another level of management to the bills we are going to pay. Welcome to the real world.

Posted by: Carl D. Sedillo | February 26, 2009, 2:39 pm 2:39 pm

Absolutely!!! After all, Congress is proving they can live only on a diet of pork.

Posted by: Pete Swinegold | February 26, 2009, 2:42 pm 2:42 pm

Taxpayer monies never ought to have been put into GM, or any other corporation, and our monies need paid back immediately. GM, as with any corporation, ought to be able to enjoy any profits, and likewise suffer any losses, that’s capitalism. If GM management really believes the company has a future then management ought to go Chapter 11; if not, Chapter 7.

Posted by: Tucano Fulano | February 26, 2009, 2:45 pm 2:45 pm

The real mad man went back to Texas on January 20th. ‘guess you thought he was a real genius. The GOP lost the election. Try to get over it (if you can).

Posted by: Mike in Carolina | February 26, 2009, 2:45 pm 2:45 pm

Running a small business during these times has been hard enough, now add to this all the uncertainity over taxes, energy costs (carbon tax) and the sorry state of banking; its too much uncertainity to process. I am scared to make any decision that produces a payback more than 12 months out. I do not wnat to be saddled with debts for new purchases or employee hires that take a long time to train.
while some of these changes are needed, adding more uncertainity to the mix is not helpful for those trying to create jobs and pay the taxes.

Posted by: scott jeffries | February 26, 2009, 2:45 pm 2:45 pm

How exactly is over $1 trillion in new spending a year financial discipline? Individuals and businesses are already overtaxed and they want to increase current taxes while also adding another layer of taxes with a cap and trade system? They are insane. Reducing tax deductions for charitable contributions is ok because the stimulus plan does out money to some organizations? That’s not going to sit well with a lot of people. They give to charities that they feel are worthy of funds which is certainly going to be different from the groups these clowns are giving money to. Hopefully people will wake up, realize that this isn’t the “change” they wanted, and vote out as many incumbents as possible in 2010.

Posted by: kws | February 26, 2009, 2:45 pm 2:45 pm

Just a few tried but true thoughts on this mess for all the less-than-educated:
1. “What goes around comes around.” Every penny we go in debt WILL need to be paid back by someone – you, me, our children and our children’s children. OR we could be taken over by China when they call in the trillions we owe them. Think you would like communism?
2. “You reap what you sow.” We’ve done it to ourselves. We let greed and a ridiculous concept that everyone is entitled to a home dominate. And here I’m mostly talking about homebuyers that SHOULDN’T be buying homes but were allowed loans anyway. Lots of greed there.
3. “Absolute power corrupts absolutely.” Boy, are we seeing that with congress and the Pres. running selling off our futures for “nice” things that will do nothing to end this crisis. No ability to stop them. No balance of power. Not smart people.
Where do you all think the money is coming from??? And how is a bridge to nowhere going to build businesses and jobs for the future? It isn’t even logical.

Posted by: Kodiak8881 | February 26, 2009, 2:51 pm 2:51 pm

it’s so awful what they are doing to this country. and so awful people don’t see that they’re getting pick pocketed right before their eyes. his platform was on revenge and fear – and people are now accepting that this is all actually okay. this is what the germans did – they blamed the jews for the down fall of the german economy – obama is blaming people who work on wall street – and we know what that is code for. well, i guess socialism is better than fascism.

Posted by: criminysakes | February 26, 2009, 2:56 pm 2:56 pm

Does that mean that Congress will have to take a pay cut and give back some of their retirement benefits?

Posted by: camp50 | February 26, 2009, 2:56 pm 2:56 pm

Freeloaders – Congress – Yes, They are just a bunch of no good, money grubbing, (want to take our money), free spending moron$ that don’t know what the he!! is going on. I did NOT vote for OB. NEVER WILL.

Posted by: Marlene | February 26, 2009, 2:59 pm 2:59 pm

The boat we are in is leaking and taking on water, and these people just took a shotgun to blow holes in the bottom of the boat while shouting we could sink if we do nothing.
Stop listening to the BS from Mr BO and look at reality ! We have the TOTAL dollars spent for every year by Bush and they suck , but this guy just outspent his entire 8 years in 2 months with no visible or logical means to raise the revenue to support it! This carbon tax will result in shutting down every power plant in the country.
He is becoming clear that the ture goal here is vengence to an entire country for allowing someone to be abandoned by their father and then their step father and then be raped by a drug dealing pedophile during his teenage years.
Pray for Mr BO as he needs to get past his bitterness and hatred for Euro/Americans and all business establishments. If this continues, there will be no more tax base in the USA for any international or homeland charity programs.

Posted by: bob from Pittsburgh | February 26, 2009, 3:01 pm 3:01 pm

TERM LIMITS! Vote them ALL OUT! I don’t care if they are a Democrat or a Republician – just VOTE THEM OUT. They ALL are on the sugar t!t and it’s going to be hard to get them off, but folks – we have got to VOTE THEM OUT and put in TERM LIMITS! NO MORE SUGAR T!TS! TERM LIMITS!

Posted by: Marlene | February 26, 2009, 3:03 pm 3:03 pm

I love reading Obama’s latest fiscal strategy – then checking the stock market 2 hours later. Like clockwork – it goes down 100 points. Good time to be a short seller I guess.

Posted by: felix | February 26, 2009, 3:04 pm 3:04 pm

I love reading Obama’s latest fiscal strategy – then checking the stock market 2 hours later. Like clockwork – it goes down 100 points. Good time to be a short seller I guess.

Posted by: felix | February 26, 2009, 3:04 pm 3:04 pm

There is no way taxing the upper earners will cover all this spending. Obama is lying again…..once he gets this spending passed, he will have to raise taxes massively on everyone.

Posted by: PresGov | February 26, 2009, 3:05 pm 3:05 pm

Jonathon Adler:
“Jake Tapper details the $989 billion in tax increases called for in the Obama Administration’s new budget. But Tapper’s tabulation understates the increased tax burden of Obama’s proposed budget, as it does not account for the proposed cap-and-trade program, which will require businesses to spend another $646 billion between 2012 and 2019. So, all told, the budget actually calls for approximately $1.5 trillion in tax increases over the next ten years.”
————————————-
Jake, do you have more info on the cost of cap and trade, beyond higher utility bills?

Posted by: mad | February 26, 2009, 3:06 pm 3:06 pm

Millions to remove tattoos from gang members?
What a fiscally responsible bunch those Democrats are. Looking out for the gangs and the terrorist.
But if BO wants it the masses will think tatoo removal is heavenly.

Posted by: harry | February 26, 2009, 3:07 pm 3:07 pm

Two words that don’t go together…Government and Discipline.
Wake up America, we have all been had….again!

Posted by: CC | February 26, 2009, 3:07 pm 3:07 pm

The real mad man went back to Texas on January 20th. ‘guess you thought he was a real genius. The GOP lost the election.
Obama won, and since Jan. 20, The people lost the country!

Posted by: Mike_C | February 26, 2009, 3:08 pm 3:08 pm

This country is becoming just what every conservative said it would under Obama A welfare state There will be no incentive for people to go out and better themselves We or creating a country of lazy, irresponsible people who want Gov to take care of them Who on this page really think that the government has done a good job a running Medicare, Medicaid, Social security or even our school system and we want them running health care Voter needs to understand that this country is most prosperous country in the world There is no other country that comes even close to what this great nation has accomplish and it was done with limited government People better wake up and realized what they have before your kids or grandkids end up in a country like Canada, France or even the Soviet Union

Posted by: David | February 26, 2009, 3:10 pm 3:10 pm

It very amazing to see Republicans are now crying for “fiscal discipline”. What is this? Never heard during 8 years under Bush’s administration! While Bush was burning money like crazy, where were the Republicans? Burning tax payers’ money for unneeded Wars is fine, spending money to rescue the country is bad. What are Republicans thinking?

Posted by: oh | February 26, 2009, 3:10 pm 3:10 pm

Sure are a lot of forgetful people out there. Where did that first trillion in deficit come from? Oh yeah, 8 years of Republican leadership. They sure know how to create problems and debt, but all they ever do is cry when the Democrats come along and have to deal with their mess.

Posted by: J.M. | February 26, 2009, 3:14 pm 3:14 pm

European Carolina,
Why are you here? Did you come here because you “love” Pres. Obama so much that you wanted to pay him taxes? No, you probably came here because there were better opportunities here in the STates than in your European country. That’s because we have always rewarded innovation and enterprise with low tax rates and high rewards of income kept.
No longer.
Funny story, went to visit friends in Scotland who were there on sabatic from an American university. He had been offered a very nice job running his department in Edinburgh, but they did the math and the taxes were too high (60% – including the National Health Tax) for them to stay. So, this Scottish guy who has lived and worked in the US for decades has an opportunity to return home to the UK, but can’t afford all those taxes. Oh, and he’s a liberal democrat.

Posted by: Robin | February 26, 2009, 3:15 pm 3:15 pm

What people, I beleive should realize is that the 780+ billion Barack alloted for economic stimulus was needed. The money towrds the banking crises and housing crises was necessary as well. Any other agenda sent from the Obama administration was as to be expected. If there wasnt a crises he would need to act on it. He would have had a large budget to work with regardless of that. I think what scares people is the fact that we actually have access to what is being spent. The cost under the Bush years was kept hush hush. It’s Barack’s transparency that is allowing him to be criticized.The real question is what should be done? For those of us ( including me) that have problems with some of these numbers, what is our suggestion to the present admistration for what should be done with the current economic crisis. If you arent working or have an idea, I think we need to lay of on so much criticizm.Also I beleive the scope and speed of Barack’s agenda is frightening to because we don’t know how much and how often he will spend.These are extraordinary times and I guess extraordinary procedures have to be applied. Right?

Posted by: TV | February 26, 2009, 3:17 pm 3:17 pm

Those who make over $250,000.00 have been eating steak for the past 8 years. Now, it’s time for the middle class to eat an Angus Burger. So, give us a break! Everybody has got to have a turn.
If President Obama is going to fine tune the budget and get the support to cut out waste, the budget will balance itself out. That can’t be hard to understand. We do in our homes each month when we pay our own bills. So, don’t act like it’s not possible. As long as everyone is willing to give up a pet peeve, we’ll be OK! What happened to “IN GOD WE TRUST”? Do we only use it when your are trying to control the Republican base?
How long do we have to suffer with electric grids that fizzle out every time we have a rain or snow storm? How long do we have to suffer with bridges that fall or roads with big pot holes? How many people will die the next time the levy breaks in Louisiana? I realize that some people don’t know or understand the concept of multitasking, but this is ridiculous. Listen, you shouldn’t need to be a rocket scientist. We can do two things at once! If we can pump up the economy and make long needed repairs / improvements to our infrastructure, improve technology, our dependence on foreign energy and health care, I believe we will be leaving our kinds a stronger and more competitive country.
NOW, IS THE TIME TO REPAIR & IMPROVE…… NOW!

Posted by: y.sister | February 26, 2009, 3:18 pm 3:18 pm

I wonder what the Neo-Cons are going to say when the country gets back on its feet and running strong again.

Posted by: dan | February 26, 2009, 3:20 pm 3:20 pm

If you taxed everyone who makes 500k and over – 100% of their income – it would not cover 1/2 this debt. Hold on to your wallets! Fear and loathing in Washington is coming to your check book.

Posted by: Wise Willie | February 26, 2009, 3:21 pm 3:21 pm

I hear many complaigning about the tax hikes and that we need tax cuts to stimulate the economy. However I have not hear one example of how tax cuts would help. In fact I can think of 3 examples where tax cuts for businesses and the wealthy have been tried. The first is the Bush tax cuts, and that has not turned out too well. The second is under Reagan in ’81, and we entered a recession in ’86/87, which is fairly similar timing to the Bush recession. The third is prior to the Greast Depression. Calvin Coolidge cut the tax rate for the wealthy from 73% (Yes it used to be that high!) to 46% in 1924. Five years later we enter the Great Depression, all that money being fed into wild speculation by the rich and disappearing overnight. Herbert Hoover then instituted more tax breaks in 1929 to no effect. It wasnt until 1932 when FDR took office and instituted the New deal that the US recovered. Tax cuts might work but are reliant on a very big assumption, namely that big business and the wealthy will invest in their business, infrastructure, and staffing. Instead time and again they have used their new found money to invest in financial markets, which adds nothing but false numbers that can disappear when the bubble bursts and all that money disappears.

Posted by: Ordermonger | February 26, 2009, 3:21 pm 3:21 pm

One can see the new strategy at play here. These numbers are so far beyond the grasp of most normal people.
Most people think that ARod getting 27.5 Million/Year is quite high! If you spent ARod’s yearly salary a day, EVERY DAY, it would take you nearly 100 YEARS to spend just one Trillion dollars! Obama unleashed 3.9 Trillion in proposed spending today!
This thing is so enormous that most people are just going to surrender to it! That is what Obama & Dems. are hoping for!

Posted by: Mike_C | February 26, 2009, 3:22 pm 3:22 pm

Obama does’nt know what he’s about to unleash in the USA!!!!

Posted by: for sure | February 26, 2009, 3:23 pm 3:23 pm

It very amazing to see Republicans are now crying for “fiscal discipline”. What is this? Never heard during 8 years under Bush’s administration! While Bush was burning money like crazy, where were the Republicans? Burning tax payers’ money for unneeded Wars is fine, spending money to rescue the country is bad. What are Republicans thinking?
Posted by: oh | Feb 26, 2009 3:10:39 PM
***********
What, never heard of RINOs before? Never knew there was a huge difference between a Republican and a conservative? Please.

Posted by: Peach | February 26, 2009, 3:23 pm 3:23 pm

y.sister – It’s not about “having a turn.” This is not a buffet. It’s a democracy and capitalism. Go home.

Posted by: y.sisterJerry | February 26, 2009, 3:23 pm 3:23 pm

This is sort of like a really bad hangover after a party that rocked too hard and went on too long. As a country, as long as things were good IN THE MOMENT, we looked the other way. Call it human nature or Scarlett O’hara nature (“I’ll worry about it tomorrow”), we don’t want to talk about doing anything until things implode. As long as we’re still working and making lots of money, nobody wants to talk about turning off the funnel. We’re a hypocritical bunch of people. We want to enjoy the party and run laughing all the way to the bank, but when it comes to pay the piper, we cry fowl and blame anybody but ourselves. This crisis didn’t just come because of homeowners taking loans they couldn’t afford and brokers/banks giving loans they shouldn’t have. We ALL need to take responsibility for how we got here. If you have bought anything on credit for which you had to make payments, that means you bought something you couldn’t necessarily afford. Yeah I know, you have a job and you’ve got great credit and have always made your payments on time. That’s great and yes, that’s what the system is all about. But, what happens when that great job goes away and you can’t find another one to replace it? Or the only job you can get is at 1/4 to 1/3 the pay, or is part-time without benefits? And what if this remains your situation for 6-, 12-, 18-months or longer, which is the case of MANY people unemployed today? Talk about a wake-up call. I’m sick of hearing people complain that this is all the fault of “deadbeat and irresponsible” people. I’m not saying those folks don’t exist, but you can’t lay this whole thing on their shoulders. We have a former President who started a war based on bogus information, and that war has cost us over a trillion dollars just in combat costs, not counting the costs associated with medical needs etc of returning soldiers. We’ve allowed insurance companies to grab us by the balls and charge us whatever they want, all the while continuing to look for any reason to reject any claims we try to file. And we have lawyers for every conceivable kind of lawsuit marketing themselves all over the airwaves to anyone who wants to get rich by suing someone. There are exceptions to be sure, but let’s face it, we are one greedy nation. Given a way, a chance, an oppty, to make a ton of money, we take it, consequences be damned.
Well, enjoy the hangover. It was a great party, but it’s over. I wish there was an easy fix that would make everyone happy because it didn’t require any sacrifice from anyone, but that’s not reality and we all know it. As someone once said “there is no free lunch”. Well, we’ve enjoyed a smorgasbord for too many years, and the bill has come due. It will not be fun, it will call for some form of sacrifice from everyone, and it will be really hard and really painful. And thank goodness for that because if it’s not hard and not painful, we will forget and will be doomed to see it happen again.

Posted by: dzemog1 | February 26, 2009, 3:23 pm 3:23 pm

If you aren’t all on the floor laughing every time Obama mentions fiscal discipline, then there’s something wrong.
He has spent more money in his first month in office than most presidents spend in 4 years.

Posted by: Peach | February 26, 2009, 3:23 pm 3:23 pm

I think the governemnt should fund the tripling of everyone’s credit line on their credit cards. That would stimulate the economy! Who cares about the increased debt when we could enjoy 5 minutes of a “stimulated” economy?

Posted by: AJ | February 26, 2009, 3:23 pm 3:23 pm

I hear many complaigning about the tax hikes and that we need tax cuts to stimulate the economy. However I have not hear one example of how tax cuts would help. In fact I can think of 3 examples where tax cuts for businesses and the wealthy have been tried. The first is the Bush tax cuts, and that has not turned out too well. The second is under Reagan in ’81, and we entered a recession in ’86/87, which is fairly similar timing to the Bush recession. The third is prior to the Greast Depression. Calvin Coolidge cut the tax rate for the wealthy from 73% (Yes it used to be that high!) to 46% in 1924. Five years later we enter the Great Depression, all that money being fed into wild speculation by the rich and disappearing overnight. Herbert Hoover then instituted more tax breaks in 1929 to no effect. It wasnt until 1932 when FDR took office and instituted the New deal that the US recovered. Tax cuts might work but are reliant on a very big assumption, namely that big business and the wealthy will invest in their business, infrastructure, and staffing. Instead time and again they have used their new found money to invest in financial markets, which adds nothing but false numbers that can disappear when the bubble bursts and all that money disappears.

Posted by: Ordermonger | February 26, 2009, 3:25 pm 3:25 pm

Obama does’nt know what he’s about to unleash in the USA!!!!
Posted by: for sure | Feb 26, 2009 3:23:00 PM
********
Respectfully, I disagree. He knows.
No one with Obama’s superior education could be making these moves which are destroying the most successful economy the world has ever seen.
He’s doing it deliberately. It’s all about that redistribute the wealth philosophy he told us he had.
Socialism on steroids. Leapfrom right to Marxism.

Posted by: Peach | February 26, 2009, 3:25 pm 3:25 pm

I wonder what the Neo-Cons are going to say when the country gets back on its feet and running strong again.
—————————————
I’d love to be wrong, but the numbers dont even come close to adding up.
Obama told us his “stimulator” plan would create/save 3.5 Million jobs in 2 years!!
Yet today the OMB has declared that the unemployment rate will go up to 8 this year, drop to 7.9 next year, and down to 7.1 in 2011.
Just a slight conflict with Obama’s 800 Billion dollar fiasco to create jobs!!!
Posted by: dan

Posted by: Mike_C | February 26, 2009, 3:26 pm 3:26 pm

Marlene,
Term limts most certainly are the answer for the problems our country faces. We have gone from a great nation of statesmen to a society of career politicians.

Posted by: Alex P. Keaton | February 26, 2009, 3:28 pm 3:28 pm

Am I correct in assuming that everyone here talking about shared sacrifice will refuse to take an Obama tax cut?

Posted by: MayBee | February 26, 2009, 3:30 pm 3:30 pm

Why didn’t he get on a plane and travel anywhere this time to make his proclamation? He has the right to fly AirForce One as much as he wants. HE WON after all!
What a joke Obama is. How can anyone support this three trillion today, three trillion tomorrow, tra la la…
If you voted for Obama, like Geo, I hope you are embarrased and ashamed of yourself.
You handed the country over to a naked Marxist Socialist bent on robbing EVERYONE blind for the ACCUMULATION OF OBAMA POWER.
ACORN must be so proud. (AND WELL FUNDED FROM THE STIMULUS!!!)
Obama, the Salt Marsh Mice want to know what was that you said about “not one single earmark”
When does America figure out OBAMA IS A LIAR ON A POWER TRIP???

Posted by: Sam Adams | February 26, 2009, 3:31 pm 3:31 pm

Ordr….the US did not recover from the Great Depression due to FDR spending. IN fact, his spending is created with causing the Dression to last an extra 8 years. It was the War that finally pulled us out of the depression.

Posted by: PresGov | February 26, 2009, 3:32 pm 3:32 pm

Taxes are a cost of doing business which is ultimately passed on to consumers in the form of higher prices.
Cap-and-trade almost doubles the cost.

Posted by: mad | February 26, 2009, 3:33 pm 3:33 pm

Obama is all over the map. He is very cunning like a fox, his goal is to socialize the government. That is government will dictate every part of your life, your income, your healthcare, your income and when and how you die. Smart guy. Let’s abort and withdraw care from elderly and shortly we will solve a lot of problems

Posted by: Mel | February 26, 2009, 3:33 pm 3:33 pm

oh : So what you’re saying is you are for burning more money? I don’t understand your logic. It was dumb before but since democrats are doing it now it’s not dumb? Are you for burning through more money simply because democrats are doing it – but against it when the republicans were doing it. It is your money you know.

Posted by: steve from washington | February 26, 2009, 3:33 pm 3:33 pm

Ordermonger–”However I have not hear one example of how tax cuts would help. In fact I can think of 3 examples where tax cuts for businesses and the wealthy have been tried. The first is the Bush tax cuts, and that has not turned out too well. The second is under Reagan in ’81, and we entered a recession in ’86/87, which is fairly similar timing to the Bush recession. The third is prior to the Greast Depression. Calvin Coolidge cut the tax rate for the wealthy from 73% (Yes it used to be that high!) to 46% in 1924. Five years later we enter the Great Depression, all that money being fed into wild speculation by the rich and disappearing overnight. Herbert Hoover then instituted more tax breaks in 1929 to no effect. It wasnt until 1932 when FDR took office and instituted the New deal that the US recovered”– Actaully the first reagan tax cuts reduced teh unemployment rate left by Carter from 11% to just over 7%.. they also reduced the rate of inflation by increasing private sector production of goods and services.. Inflation went from 14% at the end of the carter Admin to under 9% under Reagan. The bush tax cuts restored all but 800,000 of the jobs lost at the end of the Clinton administration and every single tax cut enacted ahs caused subsequent INCREASES in tax revenue through growth (more money to pay debts) while every tax increase – especially on business has caused teh total revenue for the government to go DOWN due to retraction in the economy. Finally…Roosevelts new deal is NOT what is responsibile for the US recovery. In 1929 (the crash) unemployment was 14%.. In 1938 after all the New Deal programs were fully in place (and most had been for a number of years) the unemployment rate was 20%.. Massive increases in private sector production from the start of WW2 is what actaully brought us out of the the depression.. not Rossevelt’s new deal programs…

Posted by: arkie vet | February 26, 2009, 3:33 pm 3:33 pm

Mr. Obama,
Please stop this reckless and wasteful spending. I voted for you. Please do not leave me disappointed. I am beginning to feel that way, young man.
I should have voted for HILLLARY!

Posted by: oh dear | February 26, 2009, 3:33 pm 3:33 pm

>>>>How can he say with a straight face this budget won’t “sit well” with the special interests and lobbysits?
Because Obama is a con.
He’s appointed several lobbyists to his administration – after he railed against them for 2 years on the campaign trail.
Obots duped again!!

Posted by: joseyj | February 26, 2009, 3:34 pm 3:34 pm

You go Obama!!!

Posted by: POWER TO THE PEOPLE | February 26, 2009, 3:34 pm 3:34 pm

It’s time to throw off the yoke of bondage.
Obama will show the way!
The wealth was accumulated because of US. Time for Barrack to give us what is OURS!!!

Posted by: Our Turn | February 26, 2009, 3:35 pm 3:35 pm

Term limits are of questionable effectiveness. There are just as many ineffective junior statesmen as career politicians. Do some of these elected officials need to be out of office? Unquestionably, although many would likely differ on who. At the same time as a democratic supporter I am personally very happy with my Republican Senator who has been there a long time. I think a better alternative is devoting time and energy to getting an enthusiastic and well educated electorate, government transparency, and standards of accountability that allow voters to truly know how they are being represented. Of course term limits would be much much easier.

Posted by: Ordermonger | February 26, 2009, 3:36 pm 3:36 pm

Maybee wins: “Am I correct in assuming that everyone here talking about shared sacrifice will refuse to take an Obama tax cut?” Debate over -

Posted by: steve from washington | February 26, 2009, 3:36 pm 3:36 pm

do they need republicans to pass this in senate? or can this just be pushed through…dont know the answer. mr obama we will beat you at your game of socialism. let the fun begin

Posted by: catman | February 26, 2009, 3:36 pm 3:36 pm

Bush ruined this country so whatever OBAMA DOES IS GOOD

Posted by: Repub Hater | February 26, 2009, 3:36 pm 3:36 pm

Greetings Komrades!
In the name of the common good, The Party has decided to take ownership of all private property and institutions, such as banking, mortgages, energy, automobile manufacturers, etc.
You will continue at working at your current jobs. You will not be paid in currency, but government benefits.
If you do not have a job, The Party will create a job for you through public works projects and energy programs. You therefore will owe your soul to The Party.
Because all people are equal, all people will be bestowed with the same benefits. Anyone caught having more than his least-wealthiest neighbor will be forced to return such wealth to The Party for redistribution.
The Party will take control of the public airwaves. All news will be approved by The Party. Anyone caught listening to infidel news, such as Fox News or Rush Limbaugh, will be prosecuted.
The party has declared that all things wrong with the Union are thee responsbility of the infidels. Anyone disagreeing with The Party in any manner shall be labeled a Republican infidel and shall be prosecuted.
All persons are strongly suggested to register affiliation with The Party even if they are not citizens.
There will be open public elections. Anyone wishing to vote for The Party will be granted the right, even if you are not a documented citizen.
Your Party-assigned doctor, for families with last names A-E, will be seeing patients every third Thursday of the month. Be early, lines start forming at 7:00 a.m.
All children will have the right to a college education. Becasue The Party is providing that education, you will only be taught what the Party has approved for public consumption. Also, grades will be abolished to avoid the formation of a class-system.
Please stay tuned for more direction from The Party.

Posted by: tom | February 26, 2009, 3:37 pm 3:37 pm

Ordr, History lesson:
In the first place, the Fed helped spark the Great Depression by raising interest rates, not lowering them, as the Fed is doing now. Economist Milton Friedman won the Nobel Prize in large part because he showed that when the Fed raised interest rates from 1929 to 1933, that stifled investment and contracted the money supply. The Fed this time is keeping rates low.
Second, the Great Depression was worsened by the Smoot-Hawley Tariff, the largest tariff hike in U. S. history. Foreigners, unable to sell to the U. S. because of the high tariff barriers, refused to buy American exports and U. S. industry closed factories throughout the country. Car and truck sales, for example, were 5.3 million vehicles in 1929 and only 1.8 million in 1933. Tariff walls were an important part of this decline, but today tariffs are much lower and trade from country to country is brisker.
Third, Presidents Hoover and Roosevelt extended the Great Depression by passing large tax hikes on America’s major entrepreneurs. In 1932 Hoover signed a bill raising the tax on top incomes from 24 to 63 percent. Three years later, FDR raised the top marginal income tax rate to 79 percent. When government promises to take about three of every four dollars earned past a certain amount, we can be sure entrepreneurs will not risk investments in that amount. The current top marginal income tax rate is 35 percent, but Senator Obama has pledged to raise that to almost 40 percent if he is elected. He has also suggested raising the capital gains tax. Furthermore, House speaker Nancy Pelosi has floated the idea of a 60 percent top marginal tax rate, so the economy may not be completely safe from analogies to the Great Depression.

Posted by: PresGov | February 26, 2009, 3:37 pm 3:37 pm

Hmmmm increase taxes by $1 trillion dollars. That is EXACTLY what we need to boost the economy.

Posted by: Terrence | February 26, 2009, 3:37 pm 3:37 pm

Under the Bush Tax Cuts the so called wealthy actually paid more tax $$$ into the system. Look it up.
To be sure, the Congress spent too much.

Posted by: 1951jmk | February 26, 2009, 3:37 pm 3:37 pm

HOLDER WAS RIGHT!!
Americans are cowards
Time to talk about slave repairations. Get your wallets out. I have been waiting for a LONG time.
You go OBAMA!!!

Posted by: POWER TO THE PEOPLE | February 26, 2009, 3:38 pm 3:38 pm

Does the budget include the two wars? I have not seen any indication that it is. I heard Obama say that the budget would include the amounts. Please have a better breakdown available for the literates of the USA to read and digest. We are not all morons who follow the electric bunny, Nancy Pelosi and the nerd from Nevada, Harry Reid. They like playing follow the leader and will help bury us in debt and produce a great increase i,inflation.
Please remember that Roosevelt’s spending did not change the economy. It was World War II and then we lost out to Russia by giving away Eastern Europe. Remember, Russia relies on oil for its revenues along with others like Iran and Venezuela. We survived the Great Depression.I know because I was born in 1929 in a small village in Nebraska and proceeded to complete college, a stint in the Air Force and obtained my CPA certificate. That background put four children through college and their offspring, for the most part, are destined to provide for themselves and not rely on the handouts from Uncle Sam. I saw the handouts in the 1930′s when we got some eggs and cheese from the US government. I think that alone influenced my parent’s decision to see that I received a college degree.

Posted by: Al | February 26, 2009, 3:38 pm 3:38 pm

our turn…really…its your turn to……..work for the government because real business still have to hire and pay you. why would any real business play this game….you have just pushed more jobs offshore.

Posted by: catman | February 26, 2009, 3:39 pm 3:39 pm

Another hour, another trillion dollars spent by Obama. Is anyone surprised that he is raising taxes? I am not.

Posted by: CW | February 26, 2009, 3:39 pm 3:39 pm

Repub Hater – you have been brain washed into hating 150 million people you don’t know. You should reconsider your thought process.

Posted by: steve from washington | February 26, 2009, 3:39 pm 3:39 pm

This is beyond baffling. Webster’s Dictonary will be adding Obama’s picture next to the definition of hypocrite. In just over a month’s time he’s trippled deficit spending fromt he previous administration. The most wasteful spending in U.S. History and he has the audacity to claim this will restore fiscal discipline. (Perhaps he means since he has never had any it will finally occur – I strongly doubt it.)

Posted by: South_Texan | February 26, 2009, 3:40 pm 3:40 pm

Obama’s tax rate is going be very very high for everyone…he has all sorts of hidden taxes that are going to hit us. He wants higher taxes on gasoline—this will raise the price of everything for everyone. He wants taxes higher on cigaretts. He wants taxes on Business for Cap and Trade which will raise price for all energy. He tax tax tax and we all going to suffer.

Posted by: PresGov | February 26, 2009, 3:40 pm 3:40 pm

if i were applying for a job at a real business, not a govt buz,i would take my obama sticker off my car.

Posted by: catman | February 26, 2009, 3:42 pm 3:42 pm

“He wants taxes higher on cigaretts.”
NO…Actually he has ALREADY RAISED TAXES on cigarettes… $0.61 per pack to pay for the SCHIP program!
He is already a LIAR by defintion!!!
He has already raised taxes on people who make under his magical 250K line.
But give him credit, he was “fair”! He taxed EVERY smoker, no matter what their financial standing!

Posted by: Mike_C | February 26, 2009, 3:45 pm 3:45 pm

Arkievet,
I dont know where you got your Bush numbers but here are some numbers under Bush’s tax cuts. GDP grew at 2.5% prior to the repression, significantly below the average GDP growth average from 1950 to 2000. When Bush took over unemployment was measured at 4.2 percent, in 2003 it was 6.3 percentin 2007 prior to the repression it had recovered to 4.5%. At the same time the median income of US households fell by 1,175 dollars between 2000 and 2007. All of these numbers are even prior to the financial collapse at best case show a economy that was fairly stagnant at best.

Posted by: Ordermonger | February 26, 2009, 3:47 pm 3:47 pm

there goes the dow again… i am beginning to think he is doing this on purpose. i think there is more to reverend wright tha were led to believe. i am seeing chickens roosting.

Posted by: catman | February 26, 2009, 3:47 pm 3:47 pm

Oh my – I am curious if anyone has read this farce? If not, you really should and then you will be able to make some educated comments on it.
Socialism does not work – that HAS been proven.
Tax cuts do work – that has also been proven by Reagan when he inherited massive inflation and double digit unemployment by a president(Carter) that should have stuck to peanuts.
Get real people – for those of you that voted for Obama and the drive by media’s love affair will be exposed and buyers remorse its on its way.
Hope you are ready for it! I would be curious to hear from all of you lovers of the chosen one in 1 year. I would love to see how happy you are then.

Posted by: JFK767 | February 26, 2009, 3:51 pm 3:51 pm

We should all be ashamed for criticizing Obama.
He’s gone to all of this trouble, lied for us, embarrassed himself (no earmarks, fiscal responsibilty),put our grandchildren in debt
and we aren’t thankful for the $13 a week that he is giving us to stimulate the economy.
We should be grateful even when it goes down to $8 a week next year. Think of all we can buy for $8.00
And it only cost us and the next generation a few trillion.

Posted by: harry | February 26, 2009, 3:52 pm 3:52 pm

Who cares if our unemployment numbers reach 25% like the Great Depression? Conservatives reassure us the “normal market cycles” will balance naturally, like the deregulated opaque banking system we have now worked just fine. And it’s OK for millions more to hand over their house keys to those same banks – after all, all those who cannot afford their mortgages are losers who must learn to be “responsible”. Right, cutting taxes is the only solution – that plan worked great for the past 8 years. Oh, and “the US did not benefit from New Deal spending – it simply extended the Depression”. John Kenneth Galbraith once said the modern conservative is engaged in the eternal search for a superior moral justification for selfishness.

Posted by: BuyAmerican | February 26, 2009, 3:52 pm 3:52 pm

I would also argue that is it possible for higher tax rates on businesses and the wealthy would be good for long term stable growth. In order to avoid paying as much in taxes businesses will invest more in their staff and infrastructure to reduce their total net profit that they get taxed on. They will tie that money into the business to keep it producing. Now this is obviously only true as long as you do not tax them *too* high. Alternatively a tax rate that is too low encourages profit taking, businesses taking their money and putting into savings and the stock market. In one case you get investment in the Industrial market, in low tax environment you get investment in the Financial market. The financial markets are prone to bubbles, especially if many businesses who just got a tax cut invest at the same time. All this money is no longer tied directly to infrastructure and loses its value and when the bubble bursts all that money is lost.

Posted by: Ordermonger | February 26, 2009, 3:53 pm 3:53 pm

It’s interesting that the Obama supporters don’t have much to say other than “Go Obama!” and the like. Yet those who disagree with Obama seem to have more fact-supported arguments against his leadership. Hmmmm….Could it be because the Obama supporters have no ground to stand on??!!!

Posted by: Chris | February 26, 2009, 3:55 pm 3:55 pm

The tax cut argument is built on the assumption that the wealthy and business owners will pass on that money into the infrastructure, investing in the business product and employees. It is also reliant that they will not simply invest in financial markets and give bigger payouts to themselves…like executive bonuses. You will have to excuse me if I would rather not trust this model.

Posted by: Ordermonger | February 26, 2009, 3:56 pm 3:56 pm

HOPE JUST BECAME A FOUR LETTER WORD.

Posted by: catman | February 26, 2009, 3:58 pm 3:58 pm

Greetings Komrades!
In the name of the common good, The Party has decided to take ownership of all private property and institutions, such as banking, mortgages, energy, automobile manufacturers, etc.
You will continue at working at your current jobs. You will not be paid in currency, but government benefits.
If you do not have a job, The Party will create a job for you through public works projects and energy programs. You therefore will owe your soul to The Party.
Because all people are equal, all people will be bestowed with the same benefits. Anyone caught having more than his least-wealthiest neighbor will be forced to return such wealth to The Party for redistribution.
The Party will take control of the public airwaves. All news will be approved by The Party. Anyone caught listening to infidel news, such as Fox News or Rush Limbaugh, will be prosecuted.
The party has declared that all things wrong with the Union are thee responsbility of the infidels. Anyone disagreeing with The Party in any manner shall be labeled a Republican infidel and shall be prosecuted.
All persons are strongly suggested to register affiliation with The Party even if they are not citizens.
There will be open public elections. Anyone wishing to vote for The Party will be granted the right, even if you are not a documented citizen.
Your Party-assigned doctor, for families with last names A-E, will be seeing patients every third Thursday of the month. Be early, lines start forming at 7:00 a.m.
All children will have the right to a college education. Because The Party is providing that education, you will only be taught what the Party has approved for public consumption. Also, grades will be abolished to avoid the formation of a class-system.
Please stay tuned for more direction from The Party.

Posted by: tom | February 26, 2009, 4:00 pm 4:00 pm

MikeC,
I agree that 9/11 was a contributing facor…which is why I also included the 2007 figure where unemployment was still 0.3% higher than under Clinton with higher taxes, prior to the current recession.

Posted by: Ordermonger | February 26, 2009, 4:01 pm 4:01 pm

As a smsll business person I can promise you that this will kill what is left of our economy. This is an attempt of re-distrubition of wealth, just as Joe said. This is a sad day for this country and make no mistake about it, unemployment will go well over 10%.

Posted by: billy bob | February 26, 2009, 4:02 pm 4:02 pm

msnbc online poll….61.4% think this is huge mistake from the most left leaning group out there. dwizzle dwizzle dwone…time for the messiah to go home.

Posted by: catman | February 26, 2009, 4:03 pm 4:03 pm

“I would also argue that is it possible for higher tax rates on businesses and the wealthy would be good for long term stable growth. In order to avoid paying as much in taxes businesses will invest more in their staff and infrastructure to reduce their total net profit that they get taxed on. They will tie that money into the business to keep it producing. Now this is obviously only true as long as you do not tax them *too* high.”
WOW…talk about VOODOO….do you have any experience in a business at all?
Right now TODAY… We have the 2nd highest corp tax rate in the WORLD!
Just exactly how much higher do you want to go?
Go tell a business owner today that you are going to raise his taxes! The next thing that happens is a meeting to determine how many jobs get cut!
That is the real World…you need proof…just open your eyes and look at the unemployment lines!!!!! You mess with a company’s bottom line in this economic environment, and yuo are costing more people their jobs!!!!
Yep, That a Damn Good Solution!!!!

Posted by: Mike_C | February 26, 2009, 4:04 pm 4:04 pm

“Obama’s tax rate is going be very very high for everyone…he has all sorts of hidden taxes that are going to hit us.”
————————————–
This chartacterization can’t possibly be right. The President was very clear on Tuesday night in his address to Congress.
“If your family earns less than $250,000 a year, you will not see your taxes increased a single dime. I repeat: not one single dime.”
Notice, he didn’t say INCOME taxes. He said taxes. period

Posted by: mad | February 26, 2009, 4:04 pm 4:04 pm

“Starting today, the recently unemployed will benefit from a COBRA subsidy that will make health care affordable,”
Absolutely THE MOST EXPENSIVE way to purchase health insurance is through COBRA. We’re talking upwards of a thousand dollars A MONTH for families, maybe more. The federal government is taxing everybody, including many uninsured, for the privilege of subsidising the purchase of gold-plated insurance for the recently unemployed. This is insane.
The recently unemployed should be made eligible for Medicaid, and their premiums should be means tested. This would be cheaper, fairer, and a really good preview of what Obamacare has in store for all of us.

Posted by: Bridget | February 26, 2009, 4:05 pm 4:05 pm

“I agree that 9/11 was a contributing facor”
IT WAS THE FACTOR!!!!not a factor

Posted by: Mike_C | February 26, 2009, 4:06 pm 4:06 pm

I read a comment about hidden taxes..if you get $13 back per paycheck..you will wonder where it went..but, if you have a high household income..you will know where your money went.

Posted by: DontGet818OnMeNow | February 26, 2009, 4:10 pm 4:10 pm

Do you remember the three stooges when they were in the construction business, and the skyscraper they were working on had steel going everywhere with no ryme or reason to it. This is how obama and his cabinet along with congress are setting policy. There is no rhyme or reason, just stuff going everywhere.

Posted by: billy bob | February 26, 2009, 4:10 pm 4:10 pm

the 53% out there elected an absolute psycho who is becoming more dilusional by the day.

Posted by: catamn | February 26, 2009, 4:14 pm 4:14 pm

Does anyone feel like a government pack mule. They keep on loading more debt on our backs and tell us to be responsible while they walk with hands empty carrying nothing.

Posted by: ChicagBob | February 26, 2009, 4:19 pm 4:19 pm

Do you remember the three stooges when they were in the construction business, and the skyscraper they were working on had steel going everywhere with no ryme or reason to it. This is how obama and his cabinet along with congress are setting policy. There is no rhyme or reason, just stuff going everywhere.
———————————–
billy bob,
Obama’s plan is a simple one, throw a trillion metric tons of manure at the problem, hope some sticks, and when the 1 or 2 roses bloom in it, He will say “SEE, I TOLD YOU!!!!”

Posted by: Mike_C | February 26, 2009, 4:22 pm 4:22 pm

I don’t know about fiscal discipline. This title sounds insane to me.

Posted by: Huh | February 26, 2009, 4:25 pm 4:25 pm

BHO is less intelligent than most have thought. He’s a loose cannon with little indication that he knows what he is doing or even making his own decisions.

Posted by: millerj2222 | February 26, 2009, 4:27 pm 4:27 pm

Mike Huckabee says that we are becoming
The Union of American Socialist Republics.

Posted by: Michelle | February 26, 2009, 4:28 pm 4:28 pm

ALL THE PEOPLE LIKE MYSELF HAD BETTER BE MAKING OUT THEIR WILLS AND FUNERAL ARRANGEMENTS. IF MEDICARE IS GOING TO HAVE VERY MANY MORE CUTS, THE DOCTORS AND HOSPITALS WILL NOT TAKE OF US. RIGHT NOW THE FIRST THING THEY ASK IS WHAT KIND OF INSURANCE DO YOU HAVE? WHY DID I WORK 45 YEARS AND PAY TAXES FOR? eliabethsassy

Posted by: eiizabethsassy | February 26, 2009, 4:30 pm 4:30 pm

I’ve been saying this since I got out of high school (1982), if you stick it to the wealthy (business owners, investment class, people who contribute to charities, hospitals etc), the middle and lower class (you dweebs who actually work jobs) get stuck with the bill.
You think the guy who worked 14 hours a day, 7 days a week, taking no salary for a couple of years to build a business is going to stick it to himself if the cost of his business goes up? Hell no. He lays off workers, cuts back on services, raises prices etc.
Obama has now put a target on the backs of the movers and shakers. What incentive do I have now to make $250K a year if I’m treated as the enemy once I do? None. What incentive do I have to invest if the capital gains tax skyrockets? None.
The wealthy didn’t inherit it like Paris Hilton, or by robbing banks, they sweated for years, working nights and weekends to build it. And now some arrogant, little man-child Socialist comes along and says that’s not fair?
Somebody stop me from screaming.

Posted by: Voice of Reason | February 26, 2009, 4:30 pm 4:30 pm

“Right now TODAY… We have the 2nd highest corp tax rate in the WORLD!”
What you fail to mention between the name-calling and histrionics is that the 35 % corporate rate is so full of loopholes and tax shelters that the US collects far less in corporate taxes as a percentage of GDP than most other industrialized countries.
IRS data shows most American companies pay an average of 25.3%.

Posted by: Ranger | February 26, 2009, 4:33 pm 4:33 pm

Obama will beggar this country. Americans will have a much lower standard of living than ever before. People will not want to work, why should they Obama is going to give all those that sit home and do nothing hand outs. Obama wants a Socialist country where he can be “Dictator Obama” Obama is in bed with the unions who in turn will help ruin America. Obama lied is way throught the speech the other night and Americans are too stupid, or dazzled to see it.

Posted by: Valerie Tarantolo | February 26, 2009, 4:35 pm 4:35 pm

PEACH, Oh-Dear, Mike-C etc. etc. etc. Do you think we can’t read? What proganada sheet are you all typing from – almost word for word. “Haven’t heard ONE time when tax cuts work?” AND, “three times when it didn’t work?” Get your facts straight or just post the dumb e-mail that you got the stuff from instead of plagorizing it as though they are your thoughts.
BUSH – short but sweet and not enough to start the roll. We all knew that.
REAGAN – Reagan pulled us OUT of a very serious recession that Carter got us in to. I remember it WELL. Where I lived in 1978 – 81, we had a true DEPRESSION thanks to Carter. Reagon brought prosperity and dignity to the office again.
FDR DID NOT PULL US OUT OF THE DEPRESSION! NO reputable historian or economist buys that bull. In fact, it was probably his policies that made a recession into a depression WWII got us out kids. Everyone knows that.
Stop buying the verbage that the Obama propanda machine is selling and trying thinking for yourself. It’s time YOU got smart!

Posted by: Kodiak8881 | February 26, 2009, 4:36 pm 4:36 pm

Robert Reisch, Professor of Public Policy at UC Berkeley:
“President Obama’s new budget is, well, audacious — not just because it includes several big, audacious initiatives, but also because it represents the biggest redistribution of income from the wealthy to the middle class and poor this nation has seen in more than forty years.”
————————————
This progessive says Obama’s budget is redistribution of income and he is thrilled.
Of course, it remains to be seen what the definition of wealthy is.

Posted by: mad | February 26, 2009, 4:38 pm 4:38 pm

From the right-wingers at CNNMoney:
“New York – Stocks tumbled Thursday, giving up early gains as investors sorted through President Obama’s federal budget and remained wary about the outlook for the economy and the banking sector.”
2.4 million Americans have lost their jobs since this man was elected. Employers and investors do not like what they see…

Posted by: Fascist Hyena | February 26, 2009, 4:41 pm 4:41 pm

Obama gets his chance to implement an economic plan, just as Reagan and Bush Jr. got theirs –

Posted by: RG | February 26, 2009, 4:44 pm 4:44 pm

Canary Island redepositing of funds is about to hit record levels. You can’t tax what you can’t find. Ask Pelosi about her funds distributed around the world. Just how much does it cost to get an audience with De Pope?

Posted by: WhatChange? | February 26, 2009, 4:45 pm 4:45 pm

Robert Reisch, Professor of Public Policy at UC Berkeley:
“President Obama’s new budget is, well, audacious — not just because it includes several big, audacious initiatives, but also because it represents the biggest redistribution of income from the wealthy to the middle class and poor this nation has seen in more than forty years.”
————————————
This progessive says Obama’s budget is redistribution of income and he is thrilled.
What is really scary is that he and thousands of socialist just like him are teaching OUR kids their own personal political philosphy. You call him a progressive, I cannot tell you here what I call him.

Posted by: billy bob | February 26, 2009, 4:45 pm 4:45 pm

Frankly, I’ve had all the “stimulation” I can bear. The American people have given all we have. Higher taxes? Did you vote for that?

Posted by: BonnieInTexas | February 26, 2009, 4:48 pm 4:48 pm

Boo Hoo, the weathy can’t take it. Well guess what, you all supported Bush for his tax cuts and his war now it is time to pay up. The next time you say you don’t want to pay more taxes I want you to say it to a someone fighting for this country or better yet say it to the face of a family that has lost a son or daughter.

Posted by: jl | February 26, 2009, 4:49 pm 4:49 pm

Like Canada, when socialized medicine kicks in watch the flight of medical professionals take place. I should know. The Mrs. and I were both part of the “Brain Drain” of the 80′s. We make far less than we did in Canada but take home much much more…like 3 times more. You liberals can go ahead and wave your Universal Health Care all you wish. We’ll just move on. We can go anywhere in the “world” we wish. “Free housing, travel expenses are paid and a car or allowance (Our Choice)” are but a few of the perks the world is, right this second, offering American medical professionals for their talents. The south of France is nice this time of year, I think?

Posted by: WhatChange? | February 26, 2009, 4:51 pm 4:51 pm

This country is totally out of control!

Posted by: scoot | February 26, 2009, 4:54 pm 4:54 pm

Tax the wealthy. Did it occur to anyone that it is the wealthy who pay taxes anyway? They are the ones that can create jobs. Go ahead and tax the wealthy. They’ll just move. Then where is the money for Welfare and social programs going to come from ?

Posted by: CW | February 26, 2009, 4:56 pm 4:56 pm

Americans were dumb enough to elect Obama in spite of his inexperience, radical past and shady associates.
They were dumb enough to ignore all of those warning signs.
It’s no wonder that the majority of Americans are dumb enough now to believe BO is acting sensibly and responsible.
Obama is probably getting a big chuckle by the extent of ignorance he sees in his supporters.

Posted by: sammy | February 26, 2009, 4:58 pm 4:58 pm

Please small business owners lay off the Obama supporters first.
Besides they believe he will save them anyway.

Posted by: sammy | February 26, 2009, 5:00 pm 5:00 pm

A Trillion here a Trillion there…very soon we are all numbed and it is just another new story relegated to the 3rd page of the papers…great strategy!!! I won – I get to spend all your money – and your kids and grandkids money too!!! Vote out every politician that has been there for more than 2 terms…they will never set term limits for themselves…VOTE THEM ALL OUT – AND restrict their access to any lobbying or governement related work forever after that. Not one of them as done an honest days work in their lives – all they are used to doing is living off other peoples moneys and lying!!!

Posted by: VR | February 26, 2009, 5:02 pm 5:02 pm

Please small business owners lay off the Obama supporters first.
Besides they believe he will save them anyway.
That will happen, guaranteed.

Posted by: billy bob | February 26, 2009, 5:02 pm 5:02 pm

From the right-wingers at the Detroit News:
“President Barack Obama’s recent action to ‘help America’s automakers prepare for the future’ just might jeopardize the last vestiges of excitement and interest that have attracted customers to dealer showrooms for generations.
“On Tuesday night, the president made the reassuring statement that ‘we are committed to the goal of a retooled, reimagined auto industry that can compete and win.’ But his order for the Environmental Protection Agency to review, in effect, whether 13 states can adopt their own stringent fuel economy rules proposed by California would add enormous costs for companies already reeling from the recession. It also would push the industry a step closer to eliminating the American family vehicle and others people depend on.”

Posted by: Fascist Hyena | February 26, 2009, 5:03 pm 5:03 pm

Karl Marx and Bill Ayers must be so proud. Finally someone with influence to spread their ideas.

Posted by: tyler | February 26, 2009, 5:03 pm 5:03 pm

The only incentive Obama gives Americans is to make less than $250K. Why make more if you are going to be taxed at 40% or more.

Posted by: CW | February 26, 2009, 5:04 pm 5:04 pm

Tax the wealthy. Did it occur to anyone that it is the wealthy who pay taxes anyway? They are the ones that can create jobs. Go ahead and tax the wealthy. They’ll just move. Then where is the money for Welfare and social programs going to come from ?
Posted by: CW | Feb 26, 2009 4:56:41 PM
Did you know that 25 of Americans pay 40% of all income taxes in this country?

Posted by: billy bob | February 26, 2009, 5:05 pm 5:05 pm

Billy Bob:
“You call him a progressive, I cannot tell you here what I call him.”
————————————-
That was the label he applied to himself.

Posted by: mad | February 26, 2009, 5:05 pm 5:05 pm

Tax the wealthy. Did it occur to anyone that it is the wealthy who pay taxes anyway? They are the ones that can create jobs. Go ahead and tax the wealthy. They’ll just move. Then where is the money for Welfare and social programs going to come from ?
Posted by: CW | Feb 26, 2009 4:56:41 PM
Did you know that 2% of Americans pay 40% of all income taxes in this country?

Posted by: billy bob | February 26, 2009, 5:06 pm 5:06 pm

Fascist Hyena, forgive my lack of citation but I read recently that GM has a plant in Texas that makes the GM products most desired by the customer — pick-ups and SUVs.
With government in the mix, that plant won’t be producing for very long.

Posted by: mad | February 26, 2009, 5:10 pm 5:10 pm

Kodiak8881 posted “FDR DID NOT PULL US OUT OF THE DEPRESSION! NO reputable historian or economist buys that bull. In fact, it was probably his policies that made a recession into a depression.” Check out the study by economist Robert Whaples. More than half of the economists and historians DISAGREED that “government policies of the New Deal served to lengthen and deepen the Great Depression.”
Yes, WWII spending ended the Depression. Government spending and new jobs. The government had to spend money to pay the GI’s and purchase weapons + military goods from the private sector. GIs created new jobs – they left vacancies filled by the Rosie the Riveter.
For the first time women went to work in the factories in part built as infrastructure spending during the New Deal. Some believe without New Deal programs and building, we wouldn’t have had the infrastructure to fight the same fight a decade later.
Now our government is trying to do the same thing by putting the money into other areas other than the military since we don’t have the need for massive fighting force like we did in WWII. So, because there aren’t the vacancies in the job force that there was in WWII, the US has to create new jobs. Keep in mind outsourcing has seriously depleted family wage jobs – only 5 Million new jobs were created over the past 8 years and we now have over 11.6 Million unemployed.

Posted by: idahogirl | February 26, 2009, 5:12 pm 5:12 pm

Billy Bob:
“You call him a progressive, I cannot tell you here what I call him.”
————————————-
That was the label he applied to himself.
Posted by: mad | Feb 26, 2009 5:05:22 PM
I would assume a “progressive” is someone who makes progress? I always assumed progress was moving forward in the right direction and not repeating mistakes of the past. I think he must be confused on his title, we are just repeating the mistakes of the past. i guess I have more to learn about this progressive thing, seems kind of silly.

Posted by: billy bob | February 26, 2009, 5:14 pm 5:14 pm

A more recent example of successes and failures of government spending is Japan. After years of heavy spending, Japan’s leaders grew concerned about growing budget deficits and cut back too soon, snuffing out the recovery, similar to what Roosevelt did to the American economy in 1936.
Japan’s experience also seems to argue for spending heavily to promote social development. A 1998 report by the nonprofit “Japan Institute for Local Government” found that every 1 trillion yen (that’s ~$11.2 billion US) spent on social services (like food stamps and unemployment) added 1.64 trillion yen in growth. Financing for schools and education delivered even more return: 1.74 trillion yen growth.

Posted by: idahogirl | February 26, 2009, 5:15 pm 5:15 pm

“From the right-wingers at the Detroit News:”
Your trying to pass off an OPINION article as something written by a journalist from the “Detroit News?
Your copy and paste post was written by Bill Noack , an automotive consultant, and former executive with GM for the past quarter century! He wants to blame his companies lack of vision and loss of interest in his cars on the government?.? LMAO

Posted by: Ranger | February 26, 2009, 5:17 pm 5:17 pm

Good. We tried the exact opposite of this for 8 years, and how many jobs did it create?????? plenty..in CHINA! Handing out trillions to the most wealthy to invest in china and india just didn’t help grow american jobs, in fact, it went AGAINST American companies. Go figure. So take back the handouts. You want to grow a business, offer a grant for whomever will do it, offer a tax credit IF you employ americans. Want to grow jobs, do it DIRECTLY. Dont just handout trillions and HOPE it grows jobs. WE been there, done that, didn’t work. NIce to see a change!

Posted by: frank | February 26, 2009, 5:24 pm 5:24 pm

billy bob… you said….”Did you know that 2% of Americans pay 40% of all income taxes in this country?”……Maybe it’s time for that 2% to make “honest mistakes” in their taxes.

Posted by: CW | February 26, 2009, 5:25 pm 5:25 pm

Where’s the tea party. Do you realize that when we seceeded from England and won our independence from British rule was partly because we didn’t want to be taxed any more on goods coming in or going out. Now this!!! This would make our founding fathers cry. Why would you take away from a small business owner employing 4 people only to tax the crap out of the business forcing them to lay off workers. Oh, I’m sorry, we’re spreading the wealth so some Oprah watching bum can get the money that the hard working laid off person lost because the small business owner couldn’t afford to keep he or she anymore. Do you really think giving hard working money to those who don’t work is going to rebuild this country? What are we walking idoits to let this crap happen? People, we have to make a stand, this is a free country based on free principles. What is happening now, we’re letting this wolf take from those who work hard and give it to his lazy sheep to bring this country down. If we really want change, we need to look up and stop this nonsense.

Posted by: mlk | February 26, 2009, 5:26 pm 5:26 pm

My husband and I are looking into moving out of the country in the next few years. And we are just barely one of the what BO calls “RICH” LOL and compromise the small percent that pay taxes, By no means are we rich, we live in a very high cost of living part of the country(of course that is not taken into consideration) and we are just nicely getting by and able to save some money for retirement. BO’s tax increases will cripple us. We are in this income range because my husband worked his way thru college and now works 70-80 hours a week. We are really thinking of leaving and hope more people like us do the same. Then the liberals can work harder to pay for their projects.

Posted by: Mags | February 26, 2009, 5:29 pm 5:29 pm

Mags- as long as you have income anywhere in the world, you will have to pay your US taxes.

Posted by: MayBee | February 26, 2009, 5:32 pm 5:32 pm

I actually heard the big ‘republican stand” on the issue on NPR and the senator started saying “oh these are the job creators, we need to give more tax cuts to the job creators…” I had to laugh. are you kidding me??? are you guys STILL asking us to stay George Bush’s course??? we tried for 8 years, we were -><- close to it working!!! Let's just 'stay the course' a LITTLE more and I'm SURE it work!!! Get just give one more chance!!!! HA!!! IT DIDN'T WORK!!! TIME FOR A NEW PLAN!! Go Obama! Let's do it!!! Let's give this a chance!

Posted by: RU freakn kidding me | February 26, 2009, 5:33 pm 5:33 pm

Furthermore,
We need to keep the Hollywood elite out of government, U2, George Clooney, etc. They’re always worried about helping africa, what about our homeless people? When we send mony to Africa, most of it goes to their croney politicians and they in turn attcack the citizens. How many athletes donate to the poor, I can’t think of any, they earn so much money and sepnd it on nonsense. So the next time this country wants to donate $50 billion to an african nation, think about helping our own people starving in this country and keep the idiot actors and musicians out, I used to be an agent for these guys and I know how they think.

Posted by: mlk | February 26, 2009, 5:33 pm 5:33 pm

idahogirl | Feb 26, 2009 5:12:01 PM…..If government spending in WWII stopped the depression, why didn’t it resume after the war when the government spending dwindled?

Posted by: deanbob | February 26, 2009, 5:34 pm 5:34 pm

So now we read headlines that Obama wants to raise money by putting in some form of caps on pollution and give the $$ to the poor.
You know, the people who didn’t get an education or stay in school, who don’t pay taxes and already get all forms of governmental assistance through our tax dollars.
More redistributing the wealth.

Posted by: Peach | February 26, 2009, 5:34 pm 5:34 pm

“My husband and I are looking into moving out of the country in the next few years’
watch out – most industrialized nations have…shhh..
universal health care. Better hit the congo or something.

Posted by: Ranger | February 26, 2009, 5:34 pm 5:34 pm

The US Chamber of Commerce said this about Obama’s redistributing the wealth programs and spending:
“More taxes, heavy-handed regulations, and command-and-control government will not hasten recovery. Instead, it will delay it and do so at a terrible cost to taxpayers, businesses, and working families.”

Posted by: Peach | February 26, 2009, 5:36 pm 5:36 pm

mlk | Feb 26, 2009 5:33:33 PM….There are numerous Dallas pro athletes(footbal, baseball, basketball,hockey and soccer) who donate their time and money to help in various ways.

Posted by: deaanbob | February 26, 2009, 5:37 pm 5:37 pm

Obama wants to reduce the value of the deduction for charitable contributions to the group that donates the most to charity on a per capita basis, thereby reducing the amount of such contributions and making charitable organizations more dependent on other sources of cash.
Obama wants to reduce the value of the deduction for mortgage interest to that same group thereby further reducing the demand for, and the value of, higher end homes. And this in the middle of a recession that was precipitated by the bursting of a residential real estate bubble.
Obama wants to give bankruptcy judges the ability to rewrite mortgages, thereby reducing the value of mortgage portfolios held by the very banks we are bailing out, increasing the cost of mortgages to consumers over the long term, and thereby reducing the value of residential real estate even further.
Obama wants to impose a carbon tax that will increase the utility costs of every American household and drive offshore whatever remains of American manufacturing and heavy industry.
Obama wants to remove oil leases that were available from consideration and increase taxes on oil companies, thereby increasing energy prices even further and increasing our dependence on foreign oil.
And the next shoe to drop will be significant increases in the payroll tax via an uncapping of same and possibly an increase in the employer’s share.
To do these things in the midst of a recession is so bizarre it has to be deliberate.

Posted by: Peach | February 26, 2009, 5:37 pm 5:37 pm

“GM has a plant in Texas that makes the GM products most desired by the customer — pick-ups and SUVs.”
Ummm the plummet of SUV and truck sales is part of the reason why the big 3 are struggling so much.

Posted by: Ryan C | February 26, 2009, 5:38 pm 5:38 pm

Today’s Wall Street Journal had an article everyone should read:
The 2% Solution
It will put in perspective for you the damage Obama has already done and will continue to do to the economy.

Posted by: Peach | February 26, 2009, 5:39 pm 5:39 pm

I wonder how much Oprah will need to pay, oh that’s right she can jump through Obama’s loop holes with her schools in Africa. They don’t even cover the interest she makes but I’m sure she will be given provisions. What about the people making $150-250K, small business owners trying to make a busk. We will be the one’s who have to pay for all the welfare programs giving our hard working money away while the Oprah’s of the will jump through hoops with her high paid attorneys.

Posted by: mlk | February 26, 2009, 5:39 pm 5:39 pm

We’re looking at a DELIBERATE attempt by the Democrat controlled Congress and Obama to wreck the economy even further.
A commission established by Congress to study options for funding the nation’s roads and bridges on Thursday recommended raising the federal gas tax by 10 cents a gallon.

Posted by: Peach | February 26, 2009, 5:40 pm 5:40 pm

A GIVE AWAY TO WAR
TAX PAYERS SHOULD NOT PAY FOR A NEW JET THAT DOES NOT HAVE AN ARENA.
THE F22 COST 153 MILLION EACH
220 ARE SCHEDULED TO BE BUILT.
NO, NO, NO, NO.
IT HAS NEVER BEEN TESTED..

Posted by: Underdog | February 26, 2009, 5:42 pm 5:42 pm

Obama’s cap-and-trade system means that every business that emits “greenhouse gases” (and that’s all of them unless some industry lobbyists are able to bribe Obama’s people into exceptions) has to purchase permission from the government to keep producing and stay in business. That additional expense is going to be passed on to the customers of those businesses (all of us), so it’s basically a tax. That all of us are going to pay.
Even those people who make under $250,000/year. Maybe especially those people, because they’re the ones not likely to be able to afford fancy boutique products from “green companies” that charge a premium for them.

Posted by: Peach | February 26, 2009, 5:42 pm 5:42 pm

maggie mae | Feb 26, 2009 5:37:13 PM….many US high earners and business people may end up paying close to 70% when you add up all of the taxes. I’ve read stories from people who have been very happy abroad (with all of the modern conveniences). The US has the highest corporate taxes in the world. Any wornder why business are moving?

Posted by: deanbob | February 26, 2009, 5:43 pm 5:43 pm

Deaanbob
Oh sorry, they donate some time. You should read your sports, just last week there was an article that said $175,000 were givern to the ex football players fusnd from the 60′s, 70, and early 80′s. Boy that is going to help out more than a 1000 players with medical and financial problems, so don’t tell me the athletes are generous when they can’t even take care of their own who paved their ways.

Posted by: mlk | February 26, 2009, 5:44 pm 5:44 pm

what is the interest rate on 1.75trillion per day?
i say the states should consider seceding from washington d.c. and the fed banks…..let washington d.c. pay back the deficit that they’ve created….this black hole they’ve created cannot be paid back in 100 years….congress just won’t quit spending.

Posted by: j | February 26, 2009, 5:48 pm 5:48 pm

Writing too fast, missed the errors on my previous comments.
The tea Party has begun, we as americans don’t have to put up with this tax and spend attitude. We as small business owners will move our businesses out of he country if this communist government continues to tax us to pay for people are lazy. The bottom line is more tax, less jobs.

Posted by: mlk | February 26, 2009, 5:49 pm 5:49 pm

Today’s Wall Street Journal article titled “The 2% Illusion” makes the case effectively of just how badly the middle class will be effected by Obama’s reparations, err, redistribution of wealth.

Posted by: Peach | February 26, 2009, 5:49 pm 5:49 pm

Underdog: The Atlantic has an interesting article on the need (or not) of the F-22, titled The Last Ace. The article points out that technological supreriority is the REASON countries can’t challenge our air power. But Americans got a chilling wake-up call during recent air combat maneuvers in India. 4th-gen fighters with inexpensive upgrades gave the F15 a hard time. And several nations have their own 5th-gen fighters coming online. And of course, radar and missile advances are making SAMS more dangerous to F15s.
But beyond need – I thought we just got a lesson in the need to put Americans to work? Defense jobs pay well, lead to spin-off technologies, and are AMERICAN jobs. Better that than money for projects that will buy lots of Chinese products (though China needs money too, if they’re to continue subsidizing our welfare).

Posted by: Lightduty | February 26, 2009, 5:49 pm 5:49 pm

obama is increasingly looking like a one-trick pony, with increased spending being the answer to everything. his plans are going to lead to an unimaginable economic catastrophe.

Posted by: davidfrat21 | February 26, 2009, 5:50 pm 5:50 pm

If you folks haven’t yet realized that middle class people are the ones that will be paying for BHO spending spree you’re fools!

Posted by: bo | February 26, 2009, 5:52 pm 5:52 pm

5:37:13 PM…You liberals always have something nasty to say. Par for the course, at least we would know what we are getting into and there are several places where educated hard working people like us are rewarded and welcomed with open arms. We have already looked in to it, and besides, you wouldn’t be there!!! that in itself would make me want to jump.

Posted by: Mags | February 26, 2009, 5:53 pm 5:53 pm

“many US high earners and business people may end up paying close to 70% when you add up all of the taxes.”
of course there is no cite for that “fact”.
You people crack me up. Poor people pay more of a percentage of their income in taxes than rich people do, because of the regressive nature of property taxes, sales taxes, and “fees”.
Two-thirds of U.S. corporations paid no federal income taxes between 1998 and 2005, according to the General Accountability Office.

Posted by: Flash Override | February 26, 2009, 5:53 pm 5:53 pm

If you folks haven’t yet realized that middle class people are the ones that will be paying for BHO spending spree you’re fools!
Posted by: bo | Feb 26, 2009 5:52:37 PM
*********
From the looks of it, there are a lot of fools out there. People who have never invested in America’s future either on Wall Street of by paying taxes are easily gullible.

Posted by: Peach | February 26, 2009, 5:54 pm 5:54 pm

If you folks haven’t yet realized that middle class people are the ones that will be paying for BHO spending spree you’re fools!
Posted by: bo | Feb 26, 2009 5:52:37 PM
Exactly, what BO calls rich is really middle class in many parts of this country

Posted by: Mags | February 26, 2009, 5:54 pm 5:54 pm

Ummm the plummet of SUV and truck sales is part of the reason why the big 3 are struggling so much.
————————————–
Definitely a problem if your most desired models are trucks and SUVs.

Posted by: mad | February 26, 2009, 5:59 pm 5:59 pm

Underdog | Feb 26, 2009 5:42:32 PM….The budget SHOULD be cut, and no area should not be cut if we really want to do something about the deficit. Speech from Dallas Fed last yr: “For the existing unfunded liabilities (just SS & Medicare) to be covered…someone must pay $99.2 trillion more (68% tax rise) or receive $99.2 trillion less than currently promised.”

Posted by: deanbob | February 26, 2009, 6:01 pm 6:01 pm

Lightduty, those tests are generally considered to have been rigged. You should also be aware that the US military is heavily dependent on Chinese parts and minerals for their technology.

Posted by: Flash Override | February 26, 2009, 6:03 pm 6:03 pm

There could be no better investment in America than to invest in America becoming energy independent! We need to utilize everything in out power to reduce our dependence on foreign oil including using our own natural resources.Create cheap clean energy, new badly needed green jobs and reduce our dependence on foreign oil.The high cost of fuel this past year seriously damaged our economy and society. The cost of fuel effects every facet of consumer goods from production to shipping costs. After a brief reprieve gas is inching back up.OPEC will continue to cut production until they achieve their desired 80-100. per barrel.If all gasoline cars, trucks, and SUV’s instead had plug-in electric drive trainsthe amount of electricity needed to replace gasoline is about equal to the estimated wind energy potential of the state of North Dakota.There is a really good new book out by Jeff Wilson called The Manhattan Project of 2009 Energy Independence Now.

Posted by: Sherry | February 26, 2009, 6:08 pm 6:08 pm

STEELE will bring back the party that became lost and we will succeed in 2010 and in 2012 hopefully it won’t be to late. Obama is going to ruin the future of my kids and my future (hopefully) grandkids. He is spending..spending..spending where is this money going to come from, us the people. I don’t want all my money going to all this pork and I sure don’t want my tax money going to someone who will not work but is capable.
REPULICANS, 2010 and 2012 will be back in control hopefully before it is to late.

Posted by: BigDawg | February 26, 2009, 6:08 pm 6:08 pm

Flash Overdrive: Here are some facts: Read The WSJ opinions today “Obama’s Budget Illusion.” 1% of the population pays 40% of the taxes. They will pay upwards of 45% in taxes, plus the normal other taxes including state 8% in california, 7% in New York, City tax, and school taxes. And that’s before 2010 when congress raises taxes again – because even if you taxed the top 1% – 100% of their income it would cover only 1/2 of next years deficit.

Posted by: steve | February 26, 2009, 6:09 pm 6:09 pm

Here’s an idea, why don’t we invest in military technology with our laid off IT people, retool some of our auto industry to make different military machinery and start drilling here at home. We will still advance in cleaner energy and technology and our defense will get stronger. BINGO

Posted by: R Garcia | February 26, 2009, 6:10 pm 6:10 pm

Flash Override | Feb 26, 2009 5:53:12 PM
…my post was incomplete. Is should have included “after the new Obama tax increases take effect 2010-2011″.

Posted by: deanbob | February 26, 2009, 6:10 pm 6:10 pm

This budget is another pounding for the upwardly mobile part of the middle class making around $250,000 a year. Those in major cities know that you are not “rich” at that level. If they beat down people in the upper middle class then middle middle class will be next and soon we will all be lower middle class and “the poor” will want us to be more unselfish and give them what little is left. The dumbing down and slumming down of American society will be its demise. The only ones with money and decent healthcare will be the untouchable uber rich, the politicians, maybe a few Union leaders and the upper tier government workers.

Posted by: NothingLeft | February 26, 2009, 6:11 pm 6:11 pm

“Here are some facts: Read The WSJ opinions today”
Those two statements are at odds with each other.

Posted by: Ryan C | February 26, 2009, 6:13 pm 6:13 pm

The National Association of Manufacturing has blasted the Obama budget.
They said it will stifle the economy.
No kidding. Masters of the understatement.

Posted by: Peach | February 26, 2009, 6:13 pm 6:13 pm

The wealthy don’t pay taxes. They are going to reveal 17,000 of them who collaberated with UBS to avoid paying any taxes on billions. Funny you never hear about 17,000 middle class folks collaberating with banks to commit fraud

Posted by: jl | February 26, 2009, 6:14 pm 6:14 pm

Ryan – well, I just knew you’d be right along like the DNC’s sock puppet to blast the Wall Street Journal.
You are indeed the part of “transparent” that Obama meant when he said he’d run the most open government ever.

Posted by: Peach | February 26, 2009, 6:14 pm 6:14 pm

Just shut this guy up! He brings out his budget and my retirement portfolio goes down again. Every time he opens his mouth my portfolio goes down, enough he’s done enough damage to me.

Posted by: sandcrab1612 | February 26, 2009, 6:16 pm 6:16 pm

Obama is going to repeat the oil and gas tax breaks.
Expect to pay much more at the pump, folks.
But Obama told you he wouldn’t raise your taxes. ROFL

Posted by: Peach | February 26, 2009, 6:16 pm 6:16 pm

Sherry | Feb 26, 2009 6:08:05 PM….ANWR is 72 miles from Prudhoe pipeline; the oil reserve estimates are notoriously low. We’d put people to work, bring $18/barrel in tax (and more in royalties), and insure oil while we bridge the gap to alt energies. We’ll still need oil for many other products (plastic may be the largest).

Posted by: deanbob | February 26, 2009, 6:16 pm 6:16 pm

I took $500,000 out of the stock market a few moths ago. Who wants to invest in government owned banks, government owned car makers, government owned insurance agencies – then get taxed 38% on your profits (instead of the 15% now that makes investing worthwhile) and take the on the burden of risk – and have your government make a vilify you for being successful – and then take your money. I’ll never invest in the US economy again. They don’t deserve my hard earned money.

Posted by: Predictable | February 26, 2009, 6:17 pm 6:17 pm

By the way people, today we found out that the Tax Bracket is $208,000.00, not $250,000.00 like President B O told us 2 nights ago. The White House said, “it is in the ballpark.” since when is $42,000.00 in the ballpark?

Posted by: R Garcia | February 26, 2009, 6:18 pm 6:18 pm

Deanbob asks “If government spending in WWII stopped the depression, why didn’t it resume after the war when the government spending dwindled?”
Our economy boomed after the massive spending stimulus. There is now an emerging consensus that over the course of U.S. economic history, productivity grew fastest between 1905 and 1966, and within that period, in the highest 2 decades followed 1929.
The bulk of the achieved post-WWII productivity levels had already been attained because of spending BEFORE full-scale WWII mobilization in 1942. For example, government spending on family wage jobs to build the TVA.
It was not principally WWII that laid the foundation for postwar prosperity. It was technological progress across the American economy during the 1930s.

Posted by: idahogirl | February 26, 2009, 6:18 pm 6:18 pm

“By the way, where is my freakin’ unicorn? It is not raining skittles and there my garage is sans horse with horn.
Barry, you got some ‘splaining to do!”
-that is, by far, the funniest thing I have read all week! Although, personally, I’m still waiting on my sparkly red shoes, cause you can’t travel the yellow brick road without ‘em!

Posted by: nightengale7703 | February 26, 2009, 6:18 pm 6:18 pm

since when is $42,000.00 in the ballpark?
Posted by: R Garcia | Feb 26, 2009 6:18:03 PM
*******
Since a tax cheat became Secretary of the Treasury?
Or maybe since Senator Schumer (D) said that Americans didn’t mind those pesky little earmarks. There have now been well over 8,000 earmarks identified and some were submitted by Obama’s cabinet.

Posted by: Peach | February 26, 2009, 6:19 pm 6:19 pm

Ryan C | Feb 26, 2009 6:13:38 PM….Very observant & accurate.

Posted by: deanbob | February 26, 2009, 6:20 pm 6:20 pm

Oh, I just read that more and more economists are saying what most of us already knew:
Obama’s $2 trillion in “savings” is actually $2 trillion in new taxes.

Posted by: Peach | February 26, 2009, 6:25 pm 6:25 pm

jl…you will on march 4 when the leass than brilliant one lays out his mortgage mess plan.

Posted by: catman | February 26, 2009, 6:25 pm 6:25 pm

Would someone please change that saying you gave me from: “Give us your tired, your hungry, your poor” to “Give us your salary, your 401k, your children’s future.” I just want a little truth in advertising for all those future and current Americans.
Thanks, Miss Liberty

Posted by: Stature of Liberty | February 26, 2009, 6:28 pm 6:28 pm

The AP writes tonight that Obama’s budget projects a budget deficit at 4 times last year’s budget deficit.
As a lot of us have been saying for some time, this was Obama plan:
We’re broke and the deficit is huge. To fix it, we’re going to spend more money.

Posted by: Peach | February 26, 2009, 6:29 pm 6:29 pm

“The AP writes tonight that Obama’s budget projects a budget deficit at 4 times last year’s budget deficit.”
Not the AP write that our budget deficit is 4 times what it was last year not Obama’s budget that is being discussed now projecting to be be 4 times the deficit.
The deficit include TARP & the Stim bill, that is why it is so much greater than last year.

Posted by: Ryan C | February 26, 2009, 6:33 pm 6:33 pm

“But I’m pretty comfortable with the WSJ which you call a rag,”
I called the opinion page a rag and its no surprise you would feel comfortable with it.
Hopefully the news section will be able to resist Murdoch’s efforts to “sensationalize” them.

Posted by: Ryan C | February 26, 2009, 6:36 pm 6:36 pm

“I notice you are VASTLY outnumbered on these threads lately.”
On threads that Drudge links to certainly.
But given that most right wingers are like yourself and just parrot talking points, its not that hard.
But for the regular everyday threads, I am quite comfortable with the odds.

Posted by: Ryan C | February 26, 2009, 6:38 pm 6:38 pm

We’re screwed plain and simple. This guy is a socialist. We’re going to add 1.75 TRILLION to the debt this year. How exactly does he expect to cut the deficit in half when he adds trillions to it immediately?

Posted by: Ryan | February 26, 2009, 6:38 pm 6:38 pm

flash override… they paid no taxes because they had a loss. if that loss was from paying union peoples salaries..they paid tax on it. so you are misspoken.businesses empoly people…or they used to. if you understood how corporate income worked it would be helpful

Posted by: catman | February 26, 2009, 6:39 pm 6:39 pm

I thought we were going to see details THIS WEEK!!! Now we have to wait until April. This guy is a pathological liar. He won’t release the details because HE DOESN’T KNOW WHAT THEY ARE. You cowards elected the wrong guy.

Posted by: Ryan | February 26, 2009, 6:41 pm 6:41 pm

“There have now been well over 8,000 earmarks identified and some were submitted by Obama’s cabinet.”
Transportation Secretary Ray LaHood and Labor Secretary Hilda Solis were both House members when appropriators began to forge this legislation last year. However, a stalemate between President Bush and congressional Democrats forced the sides to punt the rest of the spending provisions until now.
New transparency rules ordered up by Democrats two years ago require lawmakers requesting earmarks to write a letter expressly asking Congress to dedicate money for a given project. And as one scours the omnibus spending bill, it’s easy to find specific appeals from people who are no longer in office, like LaHood and Solis.
In LaHood’s case, the former Republican Illinois congressman wrote a March 19, 2008, letter asking Congress set aside funding to move the “Jacksonville bandstand” from one of the House office buildings to the National Museum of American History in Washington. LaHood also earmarked funds for police radio upgrades, agriculture research and equipment at a planetarium in Peoria, Ill.

Posted by: Ryan C | February 26, 2009, 6:41 pm 6:41 pm

With sufficient demand, the US would produce more than $30 Trillion worth of goods and services over the next 2 years.
The US currently does not have that demand. Consumer spending and business investment have severely fallen, so a massive gap has opened up between what the American economy produces and what it’s actually able to sell.
This is one reason why the economy needs stimulus beyond continuing Bush era tax cuts.
BTW, standard estimates point out that a dollar of public spending raises our GDP by around $1.50.

Posted by: idahogirl | February 26, 2009, 6:42 pm 6:42 pm

“For too long our b udgets have not told the whole truth…” HOw true!!! Bush NEVER told us REALLY how much he spent! And spent it on NOTHING!! NOTHING! We got NOTHING for all that spending for 8 years. No progress on green technologies, cuts to state aid, cuts to aid to fire and police, cuts to interstate highway a nd bridge repair, cuts to school loans…and yet, Bush doubled teh deficit. At least with this you KNOW that Obama WILL be investing in green technologies, we WILL be repairing roads and bridges, we WILL be updating our electrical grid to take advantage of windfarms, we WILL be building wind farms, we WILL be creating ‘energy efficiency’ technologies and businesses, we WILL be graduating more college grads. At least we know this money is being spent DOING something. GOOD!!! and as forthe tax loopholes for the rich, slam them shut!!! 8 years we waited for them to ‘create jobs”. never worked. yeah, they created jobs in CHINA! Forget that. wanna create a job,

Posted by: frank | February 26, 2009, 6:42 pm 6:42 pm

msnbc…online poll…61.4% say no to obamas new budget.60% say deficit wont be cut…thats from the chris matthews msnbc fell a chill up my leg group. if there readers dont like it really stinks.

Posted by: catman | February 26, 2009, 6:44 pm 6:44 pm

Larry sommers???? Wasn’t he the guy who was seen sleeping on the stage during the “fiscal summit” last week? A true democrat! They are laughing at us.

Posted by: nomomoney | February 26, 2009, 6:44 pm 6:44 pm

“I thought we were going to see details THIS WEEK!!! Now we have to wait until April.”
The stupid, it burns.
Details are coming out this week for the current budget.
This article is referencing the the plan for the coming budgets, specifically 2011.

Posted by: Ryan C | February 26, 2009, 6:44 pm 6:44 pm

“msnbc…online poll…61.4% say no to obamas new budget.”
Online polls are useless.

Posted by: Ryan C | February 26, 2009, 6:46 pm 6:46 pm

why do you call it a ‘tax increase’ when all it is really doing is CLOSING a tax loophole for the most wealthy when those folks NEVER were given so much back before Bush’s time??? Why is that now the new standard to which we judge their taxes They NEVER paid so little in Reagan’s time and certainly nobody complained the rich paid too many taxesunder Reagan. I think the title of this article is misleading. It should say “tax rate for wealthy goes BACK to Reagan levels in 10 years, SAVES us trillions in our deficit”

Posted by: joe | February 26, 2009, 6:46 pm 6:46 pm

Why is raising taxes for people making more than $250K a year hurting anyone. I barely survive on 20K a year, jeez, anyone making that kind of money has more than enough to live comfortably on. I think Obama’s budget and willing to fix this countries problems is a ray of light. And no, I do not receive any public assistance, as a single older woman, I have found that unless you have children, there is not help available, I have lost my house, car, due to being layed off, not once, but twice, I have taken any job I could get to survive. Just my opinion……

Posted by: Fairlee | February 26, 2009, 6:47 pm 6:47 pm

In 2005 bush tried to reform freddie and fannie – and congress (barney frank) – and obama blocked it. bush was surely not a great president – but congress is on the hook for the housing mess we’re in. which led to the banking nonsense – which led to the economy being in the crapper. if anyone really thinks this is all one parties doings they are not very well-informed or simply blind-biased.

Posted by: Just A Thought | February 26, 2009, 6:49 pm 6:49 pm

why does everyone always think the amount of money you make is all that matter, Eveyone alwayslooks at what comes in your gross income $250000.00
what goes out after taxes this 250000.00
becomes 167000.00 now if you than have 4
children, food bills education clothing e medical mortgage and eveyday expenses where does that leave the sold called rich maby the goverment should also look at the size of the family befor the taxes are raised on everyone across the board

Posted by: lorraine | February 26, 2009, 6:49 pm 6:49 pm

I BELIEVE THAT THE LAST SEVERAL PRESIDENTS USED THE SAME SPEECH WRITERS AND MUST USE THE SAME PEOPLE TO HELP WITH THE BUDGET ONLY REAL DEFERENCE IS 1 PAYS FOR BUTTER THE OTHER PAYS FOR GUNS EITHER WAY MY 9 YEAR OLD SON LOSES BUT BOTH PARTIES REALLY SHOW THE LOVE FOR THE COUNTRY AND THE PEOPLE TAKE OUR MONEY TO PROTECT US FROM OURSELVES OR OTHERS THANK YOU SO MUCH TO OUR LEADERS THANK YOU MR BUSH MR OBAMA

Posted by: john | February 26, 2009, 6:50 pm 6:50 pm

I said its a parody of Obama supporters by racist right wingers.
****************************************************
That’s obvious, but some are grasping at straws. If the Obama administration resembled the Bush one, the accusations would be a lot less imaginative.

Posted by: kat the real one | February 26, 2009, 6:51 pm 6:51 pm

What the wealthy will pay in tax yearly, is what I was charged monthly in payroll tax withholding. That is when I had a skilled trades job in America.
What the rich will not receive in tax credits for donations ($600.00) Is more than what I earned weekly in the previous job I had two years ago. I have not worked since.
You have nothing to complaining about when you have nothing to live on at all.

Posted by: Michele | February 26, 2009, 6:55 pm 6:55 pm

In 2005 bush tried to reform freddie and fannie – and congress (barney frank) – and obama blocked it.
How many times must this myth be debunked?
The Democrats didn’t ‘block’ anything. There was no bill, there wasn’t even a vote on it. If the Republicans wanted to pass regulations on Freddie and Frannie they could have done so.

Posted by: Skip | February 26, 2009, 6:57 pm 6:57 pm

So this is how Obama will change America’s image around the world?
We go from cowboy bullies to wimps that won’t even use the words “war on terror”.
Arrogant with an air of entitlement.
Irresponsible shopaholics.
Oh how our enemies (maybe some of our allies)must relish our new image.

Posted by: sammy | February 26, 2009, 7:05 pm 7:05 pm

I often wonder why the “Income Tax” is used. I believe in a national sales tax. The rich buy more than the poor. And people on welfare also buy goods and services but create no income tax. Am I wrong?
Tax increases on corporations? I would guess those extra expenditures are passed on to the consumer aka taxpayer.

Posted by: curious | February 26, 2009, 7:06 pm 7:06 pm

I should also add that my state does not have an income tax.
It also worries me a little bit that government is funding so MANY new areas. Where there is govt money being spent, there is govt rules miles long.

Posted by: curious | February 26, 2009, 7:10 pm 7:10 pm

Good speech except for the comment regarding Biden. PLEASE! Biden couldn’t even come close to getting his own parties nomination more than once. NO SUBSTANCE AND HE IS THE COUNSELOR TO THE PRESIDENT???
The President is at a crossroads. The House just passed FY2009 Omnibus Appropriations Act which is loaded with EarMarks/Pork. Actually it should be called “Onthebus”. That is where the pork is. Soon we will know if it is business as usual or real CHANGE! HE NEEDS TO TELL THE PORK MONGERS (Senator Byrd and others) NO WAY! If he doesn’t it really is business as usual.
It is also good to see NY going after Bank of America RE 3.9 BILLION IN BONUS paid to Merrill Lynch execs. I am sure good old Merrill and BofA will say “oh we didn’t use the bailout money” (wink wink). This would not have happened if Teflon Barney Franks and Dodd had done their job and put proper oversight in funding. These idiots should repay the bonus and go to jail. They are crooks!! JUST PLAIN CROOKS! There should be no more money for Merrill or BofA until ALL of the Bonuses are paid back. It appears, by his speech, that the President and Congress have written off the first $350 BILLION given to Wall St/Banks. Has a bank ever given you a blank check loan and not asked you how you intend to spend it. We are requiring the auto industry to document and make specific changes in how they do business for a mere fraction of what Wall St/Banks received. NO OVERSIGHT IS CRIMINAL. Barney, Dood and their entire committees should be censured at least. They are pathetic, but afterall it wasn’t there money. If the President intends to cut the budget in half by the end of his (first) term he MUST acquire a full accounting of where the $350 BILLION went and get as much back as he can. Put that new attorney general and his staff to work and FIND away to go after Wall Street. NY is finding a way to go after them! The Feds need to step up to the plate!!!

Posted by: Nova Phil | February 26, 2009, 7:13 pm 7:13 pm

Skip–FYI——Federal Housing Enterprise Regulatory Act of 2005 S190— John Mccain and several Republicans sponsored this. Dems shot down saying they were just fear mongering.
2003– Bush wanted to create entity to oversee Fannie and Freddie –Barney Frank and Melvin Watt said they were exaggerating the problem and that there wasn’t any financial problems at the GSE’s.

Posted by: whathappened08 | February 26, 2009, 7:14 pm 7:14 pm

So let me see if I’ve got this straight. I pay my mortgage religiously, in full and on time. As of a few short days ago, I have to pay my neighbor’s mortgage too. Now obama’s telling me I can’t deduct my mortgage payment anymore. See what I get for being a good tax paying citizen. I get screwed!

Posted by: nomomoney | February 26, 2009, 7:15 pm 7:15 pm

The rich are the one’s who make the jobs….
Now is the time to give incentives to the rich….

Posted by: Photoman9 | February 26, 2009, 7:16 pm 7:16 pm

The proposed budget is an unfathonable amount of wealth and probably less then 1% can truly comprehend that on a individual basis. Is it similar to depression economics? Probably. Is it closer to socialism form of government? Very likely.
Examine and really internalize the past 40 years of the classes within the American populace. Have you seen seperation in classes (rich, richer; poor, poorer; middle class disappearing)? Has there been a number of newer constraints that have caused this such as illeagal immigration, expensive healthcare that the masses cannot keep on pace with financially, becomming the lone superpower, rest of the world decreasing the gap between our middle class and theirs, etc., etc?
Think of France in the late 1700s. America was in the process of divorcing itself from monarchy to democracy, a difference in philosophy. France had a divorce of the classes until the point where one class refused to acknowledge the problems of the others through either ignorance, being naive, or control of power; you take your pick. We all know how that ended.
That does not have to happen to America, but it would appear we are on that road. Obama’s attempt is noble to bring classes back together. Is it fair? No. Is it the right thing to do?
Maybe…

Posted by: Erik | February 26, 2009, 7:17 pm 7:17 pm

Right on Michele. 100 years ago, income in America skewed steeply toward the top. However, by the mid 20th century the US became significantly more equal (according to economists Emmanuel Saez and Thomas Piketty).
Back in 1928 just before the Great Depression, the wealthy top 1% of Americans grabbed 23.94% of our nation’s income. By 1976, that top 1% share had fallen to 8.86%. Since then Middle Class income has eroded, almost half of the country can’t afford medical coverage, poverty levels grew to 12.5% of our population, and the distance between rich and poor again widened.
As of 2005 the wealthy 1% share of our nation’s income had risen to 21.93%. I can only imagine how much more it has grown in the last 3 years.

Posted by: BuyAmerican | February 26, 2009, 7:22 pm 7:22 pm

I think it is time to split this country into parts. It’s obvious that there is a great divide between people based on belief, those who want big government and those who want small government. There is no reason to keep battling this out.
By dividing the country, those on each side can prove the superiority of their system and those who agree can easily move to those locations. People vote with their feet. I’m sure that people on the left and right can agree on the superiority of this solution.

Posted by: Morris | February 26, 2009, 7:23 pm 7:23 pm

“I often wonder why the ‘Income Tax’ is used. I believe in a national sales tax. The rich buy more than the poor. And people on welfare also buy goods and services but create no income tax. Am I wrong?”
I think you are right. A national sales tax would be the better way to go. Every time Paris Hilton buys (or is given) a new designer dress or designer purse it would be taxed. If she buys a Bentley it would be taxed at a certain percentage, but she would pay more than me because I would buy a small Ford (and I buy my clothes at Target). If I eat at McDonald’s I will pay less in taxes than someone who eats at a Sushi restaurant.
Basing what the government takes form us on “Income Taxes” protects tne very wealthy who do not make their money through income, like Warren Buffett.

Posted by: MakesSense | February 26, 2009, 7:24 pm 7:24 pm

Buyamerican, you neglected to point out that those same wealthy top 1% also pay 40% of the taxes.

Posted by: nomomoney | February 26, 2009, 7:24 pm 7:24 pm

“Federal Housing Enterprise Regulatory Act of 2005 S190— John Mccain and several Republicans sponsored this.”
John mcCain cosponsored it.
It was orig intro’d in
“Dems shot down saying they were just fear mongering.”
It passed committee in a party line vote but the GOP never brought it to the floor.
“2003– Bush wanted to create entity to oversee Fannie and Freddie”
ROFLMAO!
Bush proposed creating an agency for oversight because Congress (run by Republicans) had abdicated that duty.

Posted by: Ryan C | February 26, 2009, 7:25 pm 7:25 pm

It’s about time Obama got called-out on his incredulous statements and disingenous “goals”. He’s been writing his own story while the MSM just parrots it for far too long, and very little of it squares-up with reality. Maybe the press could do their job already, we’ve had enough articles on Obama’s puppy-vetting process and how he likes to play basketball.
-
Obama clearly couldn’t deliver the type of temporary, targeted, and timely “stimulus” he repeatedly promised. He simply lacks the the political stature to control Pelosi and Reid… who hit the trough hard, while bickering like siblings.
-
And the paucity of GOP co-conspirators exposed Obama politically… this legislation now looks to be a huge gamble. When all this pork and welfare fails to generate real economic gains, the Democrats could face a bloodbath in 2010.
-
Historical precedent and all common sense suggest that it will not work. This is likely to be his first and last chance to get the economy back on-track before the mid-term elections.
-
One could make the argument he knows his legacy will already be in tatters by 2010-2012.. and is ramming through as much of his far-left agenda as he can before the day comes when people cringe at the mere mention of his name… sure seems like it.
-

Posted by: Reaganite Republican | February 26, 2009, 7:25 pm 7:25 pm

What a breath of fresh air. My beloved President is putting his money where his mouth is. I approve of the the budget. Even business owners tell us, “that if you want to make money, you have to spend money.” Every president has spent money, the question is, on what? We have spent trillions on war, why not spend that much on health, education and energy to now help our soldiers, children, and America as a whole. Guess what people, we have to spend money, we will spend money, even if it were republicans in office. Get over it. I don’t see the “Republic of NO’s”, with any new ideas.

Posted by: Kathy | February 26, 2009, 7:26 pm 7:26 pm

ryan,,,youre missing the point on msnbc…they are your fellow kool aid drinkers and they are saying no…wake up..this dog dont hunt and your party will end in 2010 not beacuse the repulicans are any better but were jumping off a cliff here. even blue dog dems are saying this is over the top. this is george soros and moveon.org at its best.

Posted by: catman | February 26, 2009, 7:27 pm 7:27 pm

wrong kathy, he’s not putting HIS money where his mouth is, he’s putting MY money where his mouth is. Big difference!!

Posted by: nomomoney | February 26, 2009, 7:28 pm 7:28 pm

Photoman9 posted “The rich are the one’s who make the jobs….Now is the time to give incentives to the rich….” Disagree. It’s small businesses that are the job generators. If incentives to the rich actually worked, why did 8 years of the Bush administration tax cuts only create 5 Million new jobs? We have 11.6 Million unemployed and counting.

Posted by: idahogirl | February 26, 2009, 7:28 pm 7:28 pm

morris….you got something there. how do you want to split it.

Posted by: catman | February 26, 2009, 7:30 pm 7:30 pm

I am aware that the Dems and GOP could not agree on what to do about Freddie and Frannie, however, it is clear that no bill was ever brought to the floor for a vote. There were enough Republicans that did not support government regulation of free enterprise. They made no serious effort to actually pass regulations.

Posted by: Skip | February 26, 2009, 7:31 pm 7:31 pm

This is ridiculous, I love the idiots that say “what do you think Bush did, he ran up the budget.” First off, he just signs the bills (which he shouldn’t have done), congress writes them, which was democrats and republicans. Also, just because I shoot someone, does that give you the right to go shoot 3 people? In other words, if Bush signs a bunch of trash into law totally for example 100 billion, that automatically gives democrats the right to sign 10 times that must trash into law? That has to be the dumbest, most childish argument I’ve ever heard. And I’m tired of Obama saying he “inherited” the mess. GUESS WHAT, THAT’S WHAT HAPPENS WHEN YOU TAKE OVER AS THE PRESIDENT. World wars don’t stop, budgets don’t zero themselves out, plagues don’t disappear, unemployment doesn’t drop to 0%. He sounds like a little kid saying, “I didn’t break it, Johnny did it.” Unbelievable.

Posted by: Jim | February 26, 2009, 7:31 pm 7:31 pm

PS My brother got laid off from a company who’s ceo got over a million in a bonus this year, my brother worked for them 25 years, made 60K a year…. was a dedicated worker. I just think that getting the little people back to work is important. I wasn’t always a little person, used to make 56K a year. Now I struggle to make decisions between living on cereal and taking my dog to the vet (my dog for 13 years) and I work two jobs and cannot afford to take him to the vet…..I graduated HS, did 8 years in the army, worked for the federal gov for 15 years… got laid off because they consolidated services then got laid off because the Maine state budget cut it’s support for individuals with disabilites, hmmm,,,,, I know I am not a political expert, I only know what I see is happening to myself and family and friends, somethings got to change……be part of the solutions, suggestions encouraged!!!!

Posted by: fairlee | February 26, 2009, 7:32 pm 7:32 pm

idahogirl…follow your logic…what benefits are there for snall business? capital gains are being eliminated and your soc security taxes are going to tax wages that are now capeed at 106,000 all the way up to250k. may seem like big money but in california it is not by any strech…means no new employess for me.

Posted by: catman | February 26, 2009, 7:34 pm 7:34 pm

“ryan,,,youre missing the point on msnbc…they are your fellow kool aid drinkers and they are saying no.”
Online polls are useless.
I prefer scientific polls
Gallup(from yesterday):
Six in 10 Americans say President Obama is moving at about the right speed in addressing the nation’s problems, and 54% seem comfortable with the level of spending contained in the economic stimulus package. But 54% also say the amount being added to the federal debt is very worrisome.

Posted by: Ryan C | February 26, 2009, 7:34 pm 7:34 pm

“First off, he just signs the bills (which he shouldn’t have done), congress writes them, which was democrats and republicans.”
The President submits their budget to Congress who then thru both chambers do their own thing before it goes back to the President to sign.
I know Bush was pretty useless but he did more than just sign stuff.

Posted by: Ryan C | February 26, 2009, 7:36 pm 7:36 pm

Morris, how about we just see if Castro will take them. Afterall, they’ve got free healtcare!

Posted by: nomomoney | February 26, 2009, 7:36 pm 7:36 pm

I said in jan. of 2008 obama do just
this if elected now watch at the loss
of jobs who wants to invest if there
is no profit

Posted by: popstom | February 26, 2009, 7:37 pm 7:37 pm

ryan that gallup poll was before the 649 billion for health care and 4 trillion for budget.think what you want and so will i but dont put yur head in the sand.

Posted by: catman | February 26, 2009, 7:38 pm 7:38 pm

Morris, I like your idea of splitting the country in 2, but it wouldn’t work because the liberal side would need the tax money of the producers on the conservative side to stay afloat for more than a few months. It would be fun watch them self-destruct, but we all know they would blame Bush and then the media would cover for them, and everyone on their side would believe the media because they are too busy watching american idol and heros.

Posted by: Jim | February 26, 2009, 7:38 pm 7:38 pm

Obummer… yeah,anyone living on dividens and sales of assets will cost you money.. your money goes to deadbeats..

Posted by: patrickHenry | February 26, 2009, 7:39 pm 7:39 pm

Ryan C—The Republicans on the Senate Banking committee all voted for it the Dem’s all voted against it. The Dem’s took control in 2006 and the item was shelved. Now who was it that benefitted the most from Fannie and Freddie contributions… oh yes Obama and Dodd.
ROFLMAO

Posted by: whathappened08 | February 26, 2009, 7:41 pm 7:41 pm

“Morris, I like your idea of splitting the country in 2, but it wouldn’t work because the liberal side would need the tax money of the producers on the conservative side to stay afloat…”
You are aware that the ‘Blue’ states are far more economically strong than the ‘Red’ states aren’t you?

Posted by: Skip | February 26, 2009, 7:41 pm 7:41 pm

Skip, if I can call you that, California is a prime example of your theory. Louisiana was the only state in the union to add jobs in December…they seem to be consistently blue…oh no, let’s see, they aren’t.

Posted by: Jim | February 26, 2009, 7:44 pm 7:44 pm

“The Dem’s took control in 2006 and the item was shelved…”
The Democrats passed regulations on Freddie and Frannie within months of taking control in 2006.

Posted by: Skip | February 26, 2009, 7:44 pm 7:44 pm

Obama lied about the cost of the war, lied about his 2T ” savings”, lied about the cost of his socialized medicine program and lied about the rate he expects the economy to recover. Basically, he is not qualified to be a dog catcher.

Posted by: Brian | February 26, 2009, 7:46 pm 7:46 pm

I seen a chart today that showed that if the gov taxed every citizen in this country that made $75,000 a year at 100% there would not be enough money to pay for all the programs Obama is pushing through.

Posted by: dwduck61 | February 26, 2009, 7:50 pm 7:50 pm

I think that it would be worthwhile to follow the example of the founders of the United States. They sent representatives from each state to a continental congress where they aired their viewpoints and eventually created a blueprint for a lose confederation of states to protect the rights of freedom for all.
It’s very apparent that the regional variations are no longer the issue. It’s now a divide of belief. So I believe we need two continental congresses who would outline their systems of living. A conservative congress and a liberal congress. After creating their viewpoints, and they would have no need to moderate their desires, the resulting plans would then be voted upon by citizens in each county in the United States.
The counties would be reformed into contiguous segments. Counties completely surrounded by opposing viewpoints would be given to the opposing camp.
I think this process would take about a year.

Posted by: Morris | February 26, 2009, 7:53 pm 7:53 pm

“please someone tell me, if I shoot someone, does that give someone else the right to shoot 3 people? Someone tell me, multiplying something bad turns into a good?”
Its not the act but the hypocrisy.
“So flipping ignorant, I gotta get out of here.”
yeah Drudge links do that.

Posted by: Ryan C | February 26, 2009, 7:56 pm 7:56 pm

Skip–No they didn’t support Hagel’s bill they preferred a watered down version. We are in a housing recession here so let’s get the facts straight here.

Posted by: whathappened08 | February 26, 2009, 7:59 pm 7:59 pm

“You are aware that the ‘Blue’ states are far more economically strong than the ‘Red’ states aren’t you?”
————————————–
Check the Fed website. Nearly 80% of the total $$s in mortgage forclosures are in California, Florida, New York, New Jersey, and Illinois.

Posted by: mad | February 26, 2009, 7:59 pm 7:59 pm

“Ryan C—The Republicans on the Senate Banking committee all voted for it the Dem’s all voted against it.”
Which is what I said. It passed committee in a party line vote.
The GOP never brought it to the floor even though they had clear majorities.
“The Dem’s took control in 2006 and the item was shelved.”
Dems took over in 2007, 2006 was the election year.
Look up HR 1427 from the 110th Congress.

Posted by: Ryan C | February 26, 2009, 8:00 pm 8:00 pm

“Check the Fed website. Nearly 80% of the total $$s in mortgage forclosures are in California, Florida, New York, New Jersey, and Illinois.”
And where does the GDP comes from mad?
CA alone dominates the Red states.

Posted by: Ryan C | February 26, 2009, 8:01 pm 8:01 pm

“The Democrats passed regulations on Freddie and Frannie within months of taking control in 2006.”
Not to be a pain by 2007. 2006 was the election year.

Posted by: Ryan C | February 26, 2009, 8:03 pm 8:03 pm

‘You are aware that the ‘Blue’ states are far more economically strong than the ‘Red’ states aren’t you?’
You mean like California that is $45 billion in the hole?

Posted by: squid | February 26, 2009, 8:06 pm 8:06 pm

Ryan C–No problem. I understand the confusion you must be feeling in light of everything that has unfolded since Obama became POTUS. That would explain why you still feel the need to make excuses for him by saying Bush did it first!! It may work for awhile,but eventually you will have to face the facts. Good luck

Posted by: whathappened08 | February 26, 2009, 8:19 pm 8:19 pm

And where does the GDP comes from mad?
————————————–
The current economic situation is due to the mortgage crisis, or so we’ve been told. We’ve also been told everyone must pitch in to solve it, so tax dollars from all states will pour into California, Florida, New York, New Jersey, and Illinois.
But if those states have awesome GDP, and are capable of clearing up the mess on their own, I’m totally cool with that.

Posted by: mad | February 26, 2009, 8:23 pm 8:23 pm

Since Democrats took over Congress in January 2006, it’s all been downhill. darned shamed

Posted by: Peach | February 26, 2009, 8:24 pm 8:24 pm

Blue States are more economically stable than Red States…yeah right! I live in California (a Blue State) and we’ve had budget issues for well over a decade thanks to a do nothing democratic run government. Unemployment is almost 10% here and rising. People are leaving this state in droves because of high taxes, poor education systems and high crime rates. Can’t say I blame them. I won’t even get started on the welfare system (25% of all benefits are given to illeagal aliens). And we have a law here that says the budget has to be balanced. Arnold can’t get anything done without Feinstien, Boxer and even Pelosi blocking his every move. Liberism has run rampant here in California and a person can’t spit on the sidewalk sideways without offending someone (so therefore spitting is no longer allowed).

Posted by: my two cents | February 26, 2009, 8:24 pm 8:24 pm

Please explain to me why the American taxpayers are paying the Gov’t billions in tax dollars – that they are LOANING to the Wall Street folks. If its a loan – then Wall Street is paying it back with interest (and then we’re paying for it???) sooooo the Gov’t loans money and gets paid back TWICE? I mean we’re not going to get tax money back after Wall Street pays its debts right??? Great work if you can get it.

Posted by: Charlotte Beck | February 26, 2009, 8:37 pm 8:37 pm

“Since Democrats took over Congress in January 2006, it’s all been downhill. darned shamed”
January 2007.
2006 was the election year.

Posted by: Ryan C | February 26, 2009, 8:45 pm 8:45 pm

“Ryan C–No problem. I understand the confusion you must be feeling in light of everything that has unfolded since Obama became POTUS.”
I’ll take this ramble as a concession.

Posted by: Ryan C | February 26, 2009, 8:46 pm 8:46 pm

All of you out there, Republicans and democrats, why can’t we just get along? We need both sides to make this world go round. Okay, we are arguing the same case. Yes, democrats spend money, but they have also balanced budgets. Republicans are “fiscal conservatives,” but they have also spent a lot of money. Okay! The truth is, we need them both to work together to get this country back. Both parties have made their mistakes, and have had their successes. Now, it’s about us, the people. If you or anyone of your family members got terminally sick today, could you afford health care? Can we afford the price on our soldiers’ lives, or medical needs? If the Asian and Arab countries were to decide to turn from us today, how would we survive? And if our businesses were thriving, who will they hire, considering we lack behind in education. All political parties’ agenda aside, what are the solutions? Let’s think deeper. What will we do? Stop the blame. Let’s think beyond the politics, and get some solutions. If there is a financial problem in my household, I do two things simultaneously. I down size on my budget, to necessities, then I prepare for the future by investing in further education, thereby preparing myself to make more money to better afford the luxuries. I do both at the same time. I save, and spend. Let’s stop arguing about the price, instead, let us argue on its merits, it’s use, and it’s over all purpose. Instead of panicking, can we just stop and just ask how can we make this work? Can you truly say, on behalf of your family, children, and parents, that you don’t need better health care? Common people, let’s get real.

Posted by: Kathy | February 26, 2009, 9:00 pm 9:00 pm

kiss the american dream good bye
no matter how bad our economy gets its still the best in the world but yet you never see any foreigners complain, they just suck it up and keep living as best they can!

Posted by: mum | February 26, 2009, 9:01 pm 9:01 pm

There is no American Dream left,,,,,I am done, whatever jobs to get ahead for, I am way over qualfied, mu brother asks me what to expect, I have nothing to offer, I have been a cahsier at Best Buy, hell on earch, toes on the tile, by ppl 20 years my jr. I stayed needing the bucks even well they cut my hours,,,sigh, I am tired and sick of oatmeal and cold cereal, …

Posted by: fairlee | February 26, 2009, 9:09 pm 9:09 pm

It’s not a myth that the Democrats blocked regulation of Fannie and Freddy.
Republicans did not have enough votes in the Senate to block a filibuster. The Senate doesn’t vote on bills that are subject to a filibuster. That is the whole point behind a filibuster; its keeps bills that would otherwise pass from being voted on.
Republicans could have blocked a vote on the so-called “stimulus” bill if the three RINOS hadn’t caved. Therefore, there was no vote taken until enough changes in the bill had occurred so that the RINOS could stomach it.
Interestingly enough, the chief Democrat in the Senate who opposed regulation of Fannie and Freddy, Chris Dodd, received more money from Fannie and Freddy than anyone else.

Posted by: Lynnette | February 26, 2009, 9:50 pm 9:50 pm

hey folks cool down.
Bush’s budget did not even include the Iraq and Afghanistan wars, AMT was not included.
So cool down, that President OBAMA provides a honest and bold budget.
Accountability and transparency folks, the years of lies of the GOP are over.

Posted by: B | February 26, 2009, 9:54 pm 9:54 pm

BUSH and the GOP spent money without adding in the Budget = LIES and dishonest.
It is very refreshing to see that President OBAMA’s budget is honest, transparent and bold

Posted by: BrokerS | February 26, 2009, 10:00 pm 10:00 pm

“Republicans did not have enough votes in the Senate to block a filibuster. The Senate doesn’t vote on bills that are subject to a filibuster. That is the whole point behind a filibuster; its keeps bills that would otherwise pass from being voted on.”
Its a great story except there was no fillibuster threat.
The GOP had 55 seats.
And this was post gang of 14 when the GOP in power threatened to do away with the fillibuster.

Posted by: Ryan C | February 26, 2009, 10:16 pm 10:16 pm

I don’t care what party is to blame for the Fannie/Freddie mess. Investigate and let the chips fall where they may.

Posted by: mad | February 26, 2009, 10:21 pm 10:21 pm

Malpractice insurors, healthcare insurors and ambulance chasing lawyers are getting rich off our need for healthcare and the healthcare industry in general. Eliminate those cost factors and we will have affordable healthcare. Why aren’t those issues being addressed? None of our lawyer legislators have the heart to call the hands of the biggest lobbyists and members of their own profession who have the biggest scams of all working for them.

Posted by: mmonroeliveson | February 26, 2009, 10:23 pm 10:23 pm

Ryan C. -
Preventing a filibuster requires 60 votes. Therefore, the 55 votes the Republicans had were not enough to keep the Democrats from filibustering. The Democrats do not even have enough votes to prevent a filibuster now unless they get 2 Repubicans to join them.

Posted by: Lynnette | February 26, 2009, 10:26 pm 10:26 pm

Yes Cougar_girl; Obama has even found a way to save money on feeding the world. It’s down to $30 billion/ yr. from $40 billion/ yr. only a couple of months ago. And all this in the midst of a global economic crisis. Tim Tebow will be wearing an Obama cape by next season. Does Superman wear Tim Tebow pajamas?

Posted by: mmonroeliveson | February 26, 2009, 10:45 pm 10:45 pm

DOES ANYBODY FEEL THAT WE ARE BEING RUN BY A BUNCH OF POLITICAL DONS AND MAFIA BOSSES THAT ONLY WANT TO INSURE THEIR OWN SURVIVAL.
I THINK THE SOVIET POLITBORO WAS LIKE THAT…

Posted by: BAMMER | February 26, 2009, 11:00 pm 11:00 pm

Hey cowgirl; Isn’t he great. Cutting down on the world’s food consumption by 25% will make a big dent in that worldwide obesity problem, too. Then once we get them whipped into shape we can give them healthcare too. Well it really won’t be us doing it. We’ll probably be under world government pretty soon so it will be the world feeding the world out of the world feed bank. Hey it will be something to do. We can be the world’s farmers. How many times have you heard America can feed the world. Our industry is gone so what’s left but to scratch the soil for the whole world? We’ll have a purpose and we’ll be important. Imagine all the people sharing all the world. No heaven, no hell, no God, no religion, no money, no country, nothing to die for. It’s easy if you try.

Posted by: mmonroeliveson | February 26, 2009, 11:03 pm 11:03 pm

$1,750,000,000,000.00 debt in Obama’s 1st year. A $8,000,000,000.00 Gamblers train in the stimulous bill to take gamblers from L.A. to the casinos in Vegas, and Obama is going to restore fiscal discipline? Obama is plunging us into debt faster and deeper than any country has plunged in the history of the world. If China double its population and savings rate it won’t have enough money to lend to us for this. The U.S. doesn’t have enough rich people taxed at 100% to pay for this. Oh….My…..God!!!!!

Posted by: valwayne | February 26, 2009, 11:09 pm 11:09 pm

Valwayne; Did you miss Tim Geithners announcement that another two trillion has been dedicated to financial bailouts from the treasury. Now there’s anothe 540 billion dollar package already on the horizon with the promise of more to come. Without including the original 700 billion bailout package, which the democrats loaded up with pork and then passed, but we must mention it because Obama got 350 billion to spend at his discretion, the sum total to date becomes 3,130,000,000,000 already gone with another 540 billion pending. Add tghe trillion dollar plus budget deficit and we’re close to 5 trillion in the hole for the first 3 months. It’s all at risk. Or we could fold out right now for a little over a trillion. Looks like we’re all in from the opening bet the way Democrats play. That play is a desperation bet. All we can do is watch the cards fall and hope.

Posted by: mmonroeliveson | February 26, 2009, 11:35 pm 11:35 pm

LINCOLN’S WAR & OBAMA’S
THE AMERICAN CIVIL WAR
In 1860 life was good
Till its simpleness ceased one day.
The North wished to save the Union
While the South chose to break away.
America was torn apart
As six hundred thousand died.
Throughout four years of total war
Women without husbands cried.
The sad fact of the Civil War
Is what was left at its end.
Too many times, men’s evil acts
Destroyed both foe and friend.
The problem was, once it began
There was no peace or compromise.
Total victory must be proclaimed
Before rage would leave men’s eyes.
Destroy all that helps the enemy
Was the cry of either side.
Anything to obtain victory
As death on horseback did ride.
Black men dressed in old uniforms
Became the Union’s reserve.
They fought and died for their freedom
And their rights they earned and deserve.
Lifestyles would forever change
For all who survived the war.
It had ended as it began
With sadness, misery and more.
Both sides prayed to the same God
And spoke words from the Bible.
The prayers of both were not answered
For all involved were liable.
BLACK POWDER BRIDGE
A courier rider hands his papers to me
They are instructions from Robert E. Lee.
I am advised now is the time
To stop the troop movement on the Rock Island line.
I muster my men and they load up the boats
We powder our pistols and darken our coats.
Traveling the currents, the sun slips from sight
As brave men with a purpose have gathered to fight.
We capture a bridge before the moonrise
The Yankees who are here shall soon feed the flies.
The evil of war feeds on my brain
As I light the fuse to destroy a train.
Above us a trestle of timber and tar
As we pull our oars for a willowed sandbar.
From the banks of the river; we watch it approach
There’s shadows of soldiers, in the windows of a coach.
With a burst of bright yellow and a roar in my ear
I hear them scream as they ‘re falling in fear.
The river is boiling in steam, steel and stems
Back home their families shall soon sing funeral hymns.
The one lone survivor was a red stallion stud
I lassoed his neck, and freed him from the mud.
As I ride in his saddle beneath the stars that shine
I pray for forgiveness and some peace of mind.
War is a lesson we re eager to learn
When man has that fever to murder and burn.
Lord, please forgive me for what I have done
For all those I’ve silenced were some mother’s son.
THE FEVER OF FEAR
Cannons are bursting hot metal from the ground.
Soldiers are looting and burning our town.
The fever of fear rushes through my veins
As too many Bluecoats jump from troop trains.
Smoke from hot barrels is swirling around
As four thousand muskets volley their sound.
All of my comrades have stopped a lead ball
Most cry out, then stumble and fall.
Even the young lad who carried our flag
Now he lies dead as he clings to that rag.
Wagons with the wounded trail blood on the ground
Death and destruction are easily found.
The Generals are crying ’cause they can’t stand defeat
But it’s always the soldier who dies on his feet.
Horse hooves are pounding on a bridge made of boards
As the sunlight reflects from the blades of their swords.
Quickly I hide out in the roots of a tree
Where the dirt has eroded and there’s just room for me.
After dark I sneak out with the cover of fog
Then float down the river, as I cling to a log.
Songs of their victory, ring out through the night
While from the cold, muddy water, I see their firelight.
It makes me remember my old country church
Where the preacher spoke God’s word from his holy perch.
That the seed of all conflict began in a cave
When man, like the wild wolf had to prove he was brave.
THUNDER IN THE GROUND
Cannons are bellowing from a ridge far away
The battle lines are forming and there’s little time to pray.
Musket balls are pelting like hailstones from the sky
I’m so full of fear cause I don ‘t want to die.
From beyond yonder hill comes a terrifying sound
It’s the music of the buglers and there’s thunder in the ground.
The fast-riding troopers have all drawn out their swords.
They ‘re shouting and screaming as they charge up the gorge.
It’s hard to believe how many make it through
As they’re hacking and shooting at the boys dressed in blue.
Then come the soldier men who run upon their feet
Every time I drop one, my heart skips a beat.
There’s a storm on the ground made of death, dust and smoke
My throat is so dry, I can ‘t help but choke.
The fury of the battle is bound to settle down
When most of the fighters lie dead on the ground.
After dark, the stretcher-bearers are afraid to search around
The wild hogs eat the wounded and I can ‘t stand the sound.
Come dawn, we dig ditches for all the brave, lifeless men
Then quote words from our Bible praying heaven lets them in.
SLAVERY
When you chain the neck of a slave
The other end fastens to you.
Your heart and soul become corrupt
And all which is evil you’ll do.
No government shall exist for long
Who’s people are not really free.
Though around the world there are those
Who stay blind to how life should be.
Any who must enslave others
Will dwell in their own living hell
After death, they’ll join their master
In that place from heaven he fell.
But till then we’ll fight and resist
Making them put their chains away.
And those of us who may die first
From heaven shall watch and pray
BROTHER AGAINST BROTHER
In the course of becoming officers
The young men of West Point bonded like brothers.
Till roomers of Civil War transformed friend to foe
As many cadets chose to serve others.
Fifty-five of sixty major battles fought
Were lead by graduates of the long gray line.
Yankees and Rebels ravaged one another
For to kill and plunder were virtues of the time.
Over six hundred thousand soldiers were consumed
Not counting multitudes of population.
Cities, farms and the countryside were laid to waste
Before our Union was restored to a nation.
THE LITTLEST SOLDIER
Nine year old Johnny Clem who stood just four feet tall
Ran away from Ohio to answer his country’s call.
He joined up with the Union and became a drummer boy
Soon to prove the gun he wore was far more than a toy.
Armed with a sawed-off musket, cut down to just fit him
He shot a Rebel horseman who tried to do him in.
Awarded his sergeant’s stripes and the silver medal
His comrades offered him hot coffee from their kettle.
The newspapers of the North, gladly published his story
Telling of the nine year old who earned his country’s glory.
THE BATTLE
The moon is sky high
And perfectly round
As it highlights the beauty
Of disputed ground.
Life is a journey
Where the passage is free.
After, there’s judgment
By the living and Thee.
Tomorrow’s carnage
We’ll survive if we can.
Death and dismemberment
By the hand of man.
Some will stumble
With absence of breath.
While others charge
Into the face of death.
We’ll race toward the battle
And pray for the best
Hoping somehow
We pass God’s test.
BUGLES
Their red and blue, ragtag flag stood out
Against their dust covered uniforms of gray.
Savagely we fought to kill our enemy
As the battle raged on in the heat of the day
Volley after volley we put forth our blaze
With thousands of led balls snapping flesh and bone.
Blistering sweat rolled down every face
As the tunes of war by bugles were blown.
There was a clanking sound of ramrods in barrels
As each new minieball was loaded and fired.
Some shot aimlessly into the smoke
While others took aim at the worn and tired.
Bullets were popping like the fourth of July
Yet our enemy kept surging ahead.
All at once they broke and ran off in groups
Scattering as for the forest they fled.
From behind the protection of a stacked-stone wall
The victorious cheered or just sat starring
At all the bodies of friend and foe
While for the wounded the surgeons were caring.
Soon the war was over and I survived
Despite it’s brutality on trampled ground.
From boy to man I was transformed
Though, still in the night I hear its sound.
OBAMA’S WAR
SONS AND DAUGHTERS OF WORLD WAR III
Our sons and daughters serve in harms way
To defend our way of life.
Some are students, some grandparents
Many a husband or wife.
They face great odds without complaint
Gambling life and limb for little pay.
So far away from all they love
Fight our soldiers for whom we pray.
The plotters and planners of America’s doom
Pledge to murder and maim all they can.
From early childhood they are taught
To kill is to become a man.
They exploit their young as weapons of choice
Teaching in heaven, virgins will await.
Destroying lives along with their own
To learn of their falsehoods too late.
The fearful cry we must submit
And find a way to soothe them.
Where defenders worry if we stand down
The future for America is grim.
Now’s not the time to fight one another
Or kiss our enemy’s cheek.
All through history it remains the same
The strong enslave the weak.
May God continue to bless America
Refusing evil, the upper hand.
It’s up to us to stay resolute
Defending the liberty of Man.
FREEDOM
In their new uniforms
The young march off
Not knowing who shall return.
With a proud devotion
They brandish their flag
Leaving loved ones to wonder and yearn.
May we all be buried
By all of our children
Is an ancient tribal prayer.
They’re so easy to lose
But so hard to forget
Such a burden for a parent to bear.
Oh, the taste of victory
Shall soon be forgotten
But, never that which was lost.
For those rows of white headstones
In peaceful green fields
Make it easy to tally the cost.
America has survived all attempts to destroy
Knowing the cruelty of war
And, we who remain
Must help keep her free
For those who can march no more!
By Conservative Poet
Tom Zart
Most Published Poet
On The Web
TOM ZART’S RADIO POEMS
You can hear all of Tom Zart’s 330 poems
of love, war, faith and more 24-7 on web radio at
http://internetvoicesradio.com/Arch-TomZart.htm
Tom Zart ARCHIVES:
Global
Special
Operations
101
http://www.globalspecialoperations.com/tomzart2.html

Posted by: Conservative Poet Tom Zart | February 26, 2009, 11:36 pm 11:36 pm

VET1973: Here’s a news flash that you missed: JUST BECAUSE YOU DON’T BELIEVE SOMETHING DOESN’T MAKE THE SPEAKER A LIAR; IT SIMPLY MAKES YOU A NON-BELIEVER. Enough with the immature name calling. If you have a point to make that you can defend, have at it…
Posted by: Mike in Carolina | Feb 26, 2009 2:22:27 PM
Au contraire: when a speaker, however lofty his position and eloquent his expression is spouting utter nonsense, he is either a fool or a liar. And if you don’t have a problem with nonsense, you are either a fool or an enabler of that nonsense.

Posted by: Cincinnati RIck | February 26, 2009, 11:46 pm 11:46 pm

Obama: “Budget Will Restore Fiscal Discipline”
Sure. We need a little humor and levity in these troubled times.

Posted by: Cincinnati RIck | February 26, 2009, 11:51 pm 11:51 pm

Obama: “Budget Will Restore Fiscal Discipline”
Positively Orwellian.

Posted by: Bridget | February 27, 2009, 12:01 am 12:01 am

He’s too anti-capitalist to fail! We
owe total obeisance to a neophyte of
color. Giving him a “chance” is like
giving my savings to the first Acorn
captain I see and pray that he spends
it wisely. Best give it up to the
new man upon request. It saves one
the contusions and broken bones
down the road. I respect the Olympic
salute of the 60s…and you’d better
too.

Posted by: Trajan | February 27, 2009, 12:14 am 12:14 am

Considering the nearly frenetic pace of and ill-conceived and unbridled government spending and proposed spending which has occurred over the past 38 days, it would appear that the chief goal of our current Congress and the Obama administration is to completely suffocate an already spiraling National economy before Americans finally realize that we have become so mired down in gargantuan debt that our economy can no longer be resuscitated by applying the principles of fiscal corporate responsibility, and struggling free market industries must now be taken over by even more inept government bureaucracies in order to survive. When that happens, we can bid a sad farewell to “The Great American Experiment”.

Posted by: R. M. Horton | February 27, 2009, 12:23 am 12:23 am

I don’t get the dems who say because Bush drove up the deficit, Obama can drive it up 10 times as much.
I don’t know whether to scream or cry over his budget…he’s trying to destroy our economy and sell our country to the Chinese (who are more capitalists these days than Obama, so they can afford to bail us out…but we will owe them).
I’ve lost much of my IRA’s and 401k and my stock options to Obamanomics. And the govt has lost their share of eventual taxes from those as well.
I grew up on a farm, went to college and got my degree, and have been working hard in the technology industry all my life (still can’t afford to buy a decent place to live because I’m single). I believe in owning stocks because I work for a publically owned company and I know we all work hard for our clients and stock holders.
But I fear I will retire in poverty. Obama is ruining the economy, and borrowing from future generations who will have to choose between the Chinese and their old people. Obama thinks the stock market is “Wall Street”; ie: rich; so he doesn’t care.

Posted by: LCb | February 27, 2009, 12:24 am 12:24 am

“I’ve lost much of my IRA’s and 401k and my stock options to Obamanomics. And the govt has lost their share of eventual taxes from those as well.”
_______________________________________
This statement is simply ridiculous. Sure, I’ve lost a great deal of money since the start of 2008 but the vast majority of it was gone before Obama even took office. You people are so pathetic with your partisan BS.
I have no problem with people pointing fingers but at least be honest enough with yourself to point them in the right direction.

Posted by: pops | February 27, 2009, 2:47 am 2:47 am

obama talks wallstreet listens every time he opens his mouth our economy falls i wished he would lose his voice for a couple of years so the economy will get back to normal hes not hope hes a disaster

Posted by: david reyes | February 27, 2009, 5:26 am 5:26 am

As an accountant – I am truly excited about the times we are living in.
This reflection on transparency and accountability is long overdue.
For far too long a small percentage have managed to promote greed, excesses in the disguise of being “conservative” or “liberal” and there has been no way of truly addressing these issues in a transparent and robust manner.
I think the President have managed to make the most of this new technology by using this tool to enforce accountability and transparency.
Reading through a few of the comments I am truly amazed that a significant amount of people are locked in the present – it appears they are missing the fact that most of the problem we are experiencing did not happen in a single month or two, if you all relax and reflect on how far you have all gone or how ineffective your choices have been to this moment in time, you will find that it is a failure to reflect on how responsible we are.
I have often been amazed at how individuals want to live the “good life” without any form of personal responsibility.
I am a strong believer in the view that crises are times of opportunity and that setting budgets are more like a statement of intentions. Looking at where the bulk of the money is going makes good economic sense – issues such as education, energy, health and especially banking all fall within the framework personal empowerment and social responsibilities which are part of what makes the foundation of the United States of America.
All in all I think most of the pain or anger we are feeling right now is being misdirected. I think what we should be asking ourselves is if our laissez-faire “free market” which assumes that greed is good and that “self” will conquer all ills will work or if “biconceptualism” which involves a liberal and conservative approach – “bipartisan” approach the President is calling out for would finally create an approach that works to empower all to individual and social responsibility.
I pray that we all rise above petty politics”

Posted by: pammy | February 27, 2009, 6:17 am 6:17 am

Fact is, when the rich get richer it keeps me working. Their investments are what starts companies, builds things and creates jobs. They take risk. When we talk about redistributing the wealth to people that are not willing or incapable of taking risk these opportunities will lie domat. We will never be able to measure the opportunity cost of raising taxes on the rich.

Posted by: Lone Star Rules | February 27, 2009, 7:08 am 7:08 am

Obama will restore nothing. He will restore a lot of things in this country but transparecy will not be one of them.

Posted by: Jane | February 27, 2009, 7:48 am 7:48 am

“The individual tax increases include a reduction in itemized deduction for charitable contributions. Orszag today defended that reduction, saying that the stimulus provides $100 million for charities and economic recovery will bounce contributions back.”
This is just one of the ways that the government takes takes takes from the taxpayers and then divys out as THEY see fit. I am seeing this over and over from big banks to big charity. So now instead of letting me as a individual give to a charity that I see as fit and responsible, local and otherwise, the government is going to take my money and then give it back out to charities that they recognize. Charities that will make big payouts to politicians in order to get money to run their inefficient program.

Posted by: Rachel | February 27, 2009, 7:49 am 7:49 am

Wasteful spennding is a tax break to the wealthiest Americans that we can’t afford.They( the wealthy) are still receiving this tax break that republicans love to tell is neccessary to create jobs , but we’re still having record levels of unemployment.There is no guarantee that when rich folk have money they will hire more people to work.That is an assumption that they will. What is true is that the rich will have more money in their pocket to do whatever they want with it. Now granted I understand them not wanting to have to give up large amounts of money in taxes. I don’t like having to part with my money either. Still are they really struggling like average Americans when they have to pay a tax rate they had to pay before?

Posted by: TV | February 27, 2009, 8:10 am 8:10 am

I think it’s time that we as americans began to do research on these reports and articles we read as far as judging this new administration. I beleive the best way to judge this new administration and it’s proposed budget is to line it up with the spending of the previous and administraions of the past 30 years while taking into account that we are in economic downfall where the right things have to be done to correct it.3.5 trillion is a large number that I did not hear from the bush administration. Although,my quick study and research found that from 2005-2008 the Bush administration did have a budget over 2 trillion and it was 2.9 trillion for last year.That’s not to far offfrom what the Obama dministration is proposing and let’s get real. Obama wants to expand health care availability which costs money.If Obama cut back on programs to help the needy his budget would probably look similar to what Bush’s looked like.We voted for Obama.Thank God.I said this yesterday.Obama’s transparency is what is bringing all this scrutiny and now I hear that the previous administration was not as forthcoming about the financial costs of these two wars we are engaged in? We are just now being allowed to see our dead soliders returning from war. We didnt see that in the previous administration.President Obama is pulling back the curtain so America can see. His progress and the mistakes. I respect that. Truth is Bush may have well spent more than what Obama is proposing. Obama is honest enough to tell us up front.

Posted by: TV | February 27, 2009, 8:27 am 8:27 am

If a society has problems with money, eliminate money.

Posted by: Ivan | February 27, 2009, 8:57 am 8:57 am

Accountability and transparency folks, the years of lies of the GOP are over.
————————————-
B ,
I have news for you, Obama won the election. Bush is not in the picture now! You liberals can keep running off at the mouth that somehow this is all Bush’s fault, but its not working.
Obama is in over his head, now he has managed to pull the country under as well. I dont like him or his policies, but we all better hope this works at least a little bit.
If this fails, and the odds are it will, we will end up with an economy where the barter system will be the dominant financial mechanism!
In 5 short weeks this guy has managed to set himself up to spend more money than any person in the history of the planet!
These packages as so huge and overblown that “tranparency” and accountability is going to cost more than the Iraq War!
That alone is the dunbest idea going on here, the concept that the government can manage this! The government could not even “manage” the simple conversion to digital TV!!!!!
We are already suppposed to be fully digital right now! The government now is going to spend 650 Million more dollars in 4 months to get out the news to people about the change! It is not even remotely possible that anyone with a TV has not not seen the PSA’s about the conversion and getting a converter box if you need one! In the “stimulator” we are now going to WASTE 90 million dollars of that 650 M for further “education & outreach” !
Unbelievable!!!
The numbers of his own plans dont add up! He “claims the “stimulator” will create/save 3.5 million jobs!
Yet OMB has looked things over & they calculate an unemployment rate of 8 % for this year & 7.9% for 2010.
I guess the magic will be the 3.5 million will be all “saved” jobs, especially since their is no way to actually tally “saved” jobs!

Posted by: Mike_C | February 27, 2009, 9:24 am 9:24 am

Mike C
You are Right Bush is out of Office thank God, But his Disasters Are still Going on. and to suggest That only 30 Days In Office President Obama is Responsible for this Mess Is LAUGHABLE,Obama Has to try and Clean the Bush mess up It aint gonna be Easy!

Posted by: Angie in PA | February 27, 2009, 9:42 am 9:42 am

Jane, I don’t know which profession you subscribe to – it appears you won’t give the administration a chance to come up with their framework for transparency and accountability.
My observation is that it would help to keep an open mind and engage in holding the government to be accountable to the nation.
I don’t know the President personally but I remain open to the idea of transparency.
I don’t know about you but I have never been interested in politics but I repeat we are living in exciting times and the old ways of carrying out business is not working. We are living in a “global” environment which reaches out beyond this shore and as such we can not ignore the impact the USA has on the rest of the world.
On a different note, I noticed that someone mentioned about the rich creating work, yes they sure do but can you step back and make a list of businesses that have gone bust. – Enron, WorldCom, AIG, Lehman Brothers.
I implore you to research some of these companies and find out why they collapsed. Further still what happens to the workers when these businesses collapses. I think we are all being challenged here and the “core” message of Obama’s mantra on change is about on seeing the bigger picture.
This is not about an individual or party politics – it is a moral call to us all to be responsible citizens.

Posted by: Pammy | February 27, 2009, 9:45 am 9:45 am

Mike C; Please set your buddy Hannity straight. He claims Regan inherited Carter’s double digit unemployment.
Dept of Labor, Bureau of Labor Statistics.
The unemployment rate was 7.5% when Reagan took office in Jan 81, 10.8% in Nov 82 and did not get below 7.5 until May 84. That is over 3 years in office but it was still Carter’s unemployment! LOL
AND Reagan changed the yardstick to reduce the percentage by adding the military. Prior to that it was the CIVILIAN rate of unemployment.

Posted by: rom | February 27, 2009, 10:05 am 10:05 am

1- The recovery act and “normal business cycles” will cause the economy to eventually recover.
Keep your fingers crossed theory. However did any of these economists ever think that if government spending creates a 1.5 times multiplier then why not spend $10 trillion instead of only $.8 trillion?
2- Allowing “high income tax provisions to expire when they are scheduled to expire, at the end of 2010″ and closing tax loopholes.
Behavior will change. It always does. Rich people will not put as much investments at risk. Payoff here is in doubt since rich people can seek safer tax free investments.
3- “Winding down the war” in Iraq.
This will help but Afghanistan is a big “?” and could lead to another sink hole.
4- Making government more efficient.
Every administration always says this and it never happens.
In summary not much to find other then bigger debts are in our children’s future.

Posted by: noc | February 27, 2009, 10:06 am 10:06 am

i am not going to become a socialist “comrade”. my family members are not going to be “comrades”. we will not be told by government officials what is right and wrong.

Posted by: rachel | February 27, 2009, 10:27 am 10:27 am

If you don’t support the President, you hate America and don’t respect our troops overseas. At least, that’s what the faded bumper stickers on all of the Republican cars in town say…

Posted by: Ian | February 27, 2009, 10:29 am 10:29 am

Nothing is free, folks. If you think a different approach to government is gonna solve any problems without an accompanying cost – you are mistaken. The cost may be in taxes, prices, income, opportunity, or freedom. But there will be a cost. Nothing is free.

Posted by: N'erdowell | February 27, 2009, 10:37 am 10:37 am

Will Obama have the courage to say to congress, or they to him, “We will have to disappoint our campaign contributors, and abandon our personal agendas, to respond to a higher calling, salvation of the Republic” ?

Posted by: Tom Beebe | February 27, 2009, 11:47 am 11:47 am

1,750,000,000,000.00 debt in Obama’s 1st year. A $8,000,000,000.00 Gamblers train in the stimulous bill to take gamblers from L.A. to the casinos in Vegas.
There is no need to give this blogger any credibility whatsoever. FACT. The train from L.A. to Vegas was taken out of the passed stimulus package. Get your facts straight or don’t confuse people with your B.S.

Posted by: roy12505 | February 27, 2009, 2:30 pm 2:30 pm

“The National Association of Manufacturing has blasted the Obama budget.”
The loved the stim money and tax breaks, hate having their taxes raised.
What else is new.

Posted by: Ryan C | February 27, 2009, 2:59 pm 2:59 pm

Obama’s fiscal responsibility is like telling a woman being assaulted to make sure her attacker uses a condom. What a joke!

Posted by: John | February 27, 2009, 4:55 pm 4:55 pm

Once again this clown opened his pie hole today and I watched my retirement portfolio get smaller. He just needs to shut his trap!!!!!!!!!

Posted by: sandcrab1612 | February 27, 2009, 5:51 pm 5:51 pm

I doubt that very few of the posters on this web site make over $250,000 a year and are in the top 5% of the income earners in this country so why are you all protecting the rich, thieving bankers and wall street crooks? Bush gave tax breaks to the rich and it didn’t create any jobs – just the opposite. The rich are rich because they exploit hard working lower and middle class workers and it is time for them to pay their fair share. I am also really sick of hearing about how people who have invested in the stock market are losing money – so what – you took a chance with your money instead of putting it in something safe – like a savings account or government bonds so you could get rich and now when it went bad your are all whinning boo-hoo.

Posted by: Kate1149 | February 28, 2009, 2:05 am 2:05 am

Oh my God, Obama wants to go back to the tax rates for the wealthy that existed under Clinton and give the middle class a tax break for a change and you people all act like the world is coming to an end. The tax rate would go from 35% to 39% – wow a whole 4% points – yup sounds like socialism right? Morons! FDR passed Social Security during the depression, and Obama is going to pass health care for all Americans. God Bless President Obama and our Country – I am praying for both.

Posted by: Kate1149 | February 28, 2009, 2:16 am 2:16 am

I love how Obama keeps saying he “inherited” this mess, and you Obama cheerleaders go along with the hype. Did you forget your leader was in Congress since 2007? Did you ever hear him once, just once, complain about Republican spending in those years? Oh, I forgot, he was on the campaign trail those years. Well, maybe if he had been in Congress he could have stopped the wasteful spending like the Democratic majority tried to do – NOT! To rationalize away this massive payback “stimulus” package by saying George Bush did it, too, is the most disingenuous piece of garbage I have heard in years. “The buck stops here”, Mr. President, so grow up and realize this fiasco now belongs to you.

Posted by: Babs | February 28, 2009, 2:58 am 2:58 am

“Obama said that lowering the debt in the long-term would be the only approach to solving the country’s fiscal problems.”
And yet his 2009 budget will BORROW another $1.75 TRILLION to stack on top of the national debt. Then, if everything goes peachy and we get GDP growth of 3+ %, the government will only have to borrow an ADDITIONAL $500 – $600 BILLION for EACH and EVERY year after 2009, FOR THE NEXT TEN YEARS!
This does nothing to lower the debt. It DOUBLES THE DEBT! Yet, somehow we are suppose to believe the new administration is being responsible.
What is going to happen when other countries decide to no longer lend us money?

Posted by: robert | March 1, 2009, 12:30 am 12:30 am

look i’m gonna set the record straight. FDR’s New Deal actually did help the economy, but not very much. it took the massive demands of WWII to really bring us out of the Great depression.
if you dont believe me, look it up on MSN Encarta.
i believe that Obama’s plan to streamline healthcare with computer technology is wonderful, my mom is a nurse and she’s always talking of how they should do that. i believe that Obama’s over all plan will help the economy, even though i disagree with the carbon tax, and the cap and trade portion of his plan. Having said that, looking back on history i know that it will not be enough. it will take a drastic event, ssay WWIII or perhaps the forming of the North American Union to truly get out of this Economic Depression

Posted by: Natalie B. | March 2, 2009, 5:58 am 5:58 am

This budget is a socialistic monstrosity. THis is obama’s basic plan,spend more, raise taxes, and grow government. Translation,waste money, rob companies, and create a tyrany. This will not restore fiscal responsibility. It will do nothing but tax and spend.

Posted by: partisanandproud | April 4, 2009, 3:22 pm 3:22 pm

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