Orszag on the Hot Seat

Dems are bailing on Obama. The budget deliberations will be, ah, interesting.

The unsustainable debt crisis our nation is suffering is no longer a political issue…the 535 members of Congress need to address this head on, right now. Orzag and Geithner need to go. We need people who know how to balance America’s checkbook and debt servicing and deal with it in a meaningful way ASAP.

Gregg was irked about President Obama’s plan to unveil a new proposal to use $30 billion from Troubled Asset Relief Program funds to help community banks… “This proposal violates the law,”
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More useless grandstanding from a Republican. It’s a PROPOSAL, not an executive order or action. The President can propose anything he wants, even if Republicans don’t want to talk about the fact that TARP is documented as costing taxpayers FAR less than Republican hysterics in January insisted it would (but Republican exaggerations turning out hilariously wrong isn’t even news anymore).
If Republicans are going to attack literally every proposal the President ever makes, they look awfully hypocritical when they then insist he needs to ‘focus on the economy and jobs’.

What Mr. Gregg does not say is that the big banks have NOT been lending to small businesses due to what they say is too much risk. So, what Obama is saying to the big banks – screw you! You can’t or won’t loan – we’ll get the small banks to do it. Maybe they’ll create jobs where clearly you have not

“You can’t or won’t loan – we’ll get the small banks to do it. ”
How much $ do you think banks, other than community banks, lend to business in the US relative to the proposed 30 billion to community banks?

Obama’s campaigning again. He based the entire 2008 campaign on lies. I won’t believe him this time. This corrupt administration needs to be stopped.

Senate Majority Leader Harry Reid (D-Nev.) is accusing Republicans of undermining national security, saying GOP filibusters of White House nominees are leaving critical posts empty at the State Department and Department of Homeland Security.—
Janet and Hillary have done such great work.

“Do you think the Bush tax cuts should expire and raise everyone’s taxes?”
The Bush tax cuts for the two top tax brackets are left to expire in the new proposed budget keeping all other marginal rates the same.
That is what Obama campaigned on.
So not everyone’s taxes are going up.
The lesson as always? Right wingers lie.

“Have you read today’s article from Reuters entitled “Backdoor Taxes to Hit Middle Class.”
Yeah it complains that the Make Work Pay tax credit will be have to be renewed year to year (as many tax breaks are).
It also claimed that all Bush tax cuts of the marginal rates would expire when the budget only calls for cuts for the top two rates to expire and keep all the other rates where they are.
And lastly it claimed the budget proposed did nothing about the AMT (Alternative Minimum Tax) which has been a political issue for YEARS. See AMT has not been indexed for inflation so more and more people get caught by it unless Congress offers a patch.
Obama’s budget calls for continuing the patch thru 2020.
So basically the claim that middle class taxes will go up under the Obama budget is completely false.
It was a shoddy article full of blatant inaccuracies and Reuters pulled it.
Of course the right wing loved it.

Heh. Janet “The System Worked” Napalitano.
Posted by: Obama: I Am the One You Are Waiting For | Feb 2, 2010 3:40:14 PM
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The Republican right are pathetic.
They hang around like jackals waiting for some tidbit they can turn into a moronic bumper sticker talking point.
Substance is something lacking – the point is attack, demonize and insult.
Lowering the level of decent politics – the Republican right.

—“This proposal violates the law,” Gregg said. “The whole concept of the TARP was as we recouped the money, we would use it to pay down the debt. Now that’s not going to happen. It’s become a piggy bank. A piggy bank which adds to our deficit.”—
The lesson as always, is that Liberals cannot resist more spending, more taxes, more debt, and more regulation.

“Actually, it was a $1.3 TRILLION dollar deficit for fiscal 2009 left by the previous administration.”
Posted by: tierra | Feb 2, 2010 6:08:51 PM
Nice try. Thank you for playing. Obama signed the FY 2009 budget, because Pelosi and Reid delayed it with continuing resolutions until Obama could be sworn in. And Bush left Obama one half of the TARP money to spend.
The lesson as always, is that Liberals lie.

“Nice try. Thank you for playing. Obama signed the FY 2009 budget, because Pelosi and Reid delayed it with continuing resolutions until Obama could be sworn in. And Bush left Obama one half of the TARP money to spend.”
So that would mean half the TARP money is Bush’s.
Apparently liberal ideas are so good right wingers who can’t think of their own, imitate them.
I’m flattered.

“So, you proudly take ownership of the idea to bail out big Wall Street banks?? Wow, what a Populist!”
No, that one is shared by some Republicans and quite a few Democrats who decided as unpopular on their face the bailout was, the economic collapse demanded the action.
I can’t take ownership of the idea but I understand why it was done.
But its nice that you find my fav tagline so appealing you have begun to imitate me.
Like I said, I’m flattered.

Sen. Gregg, you’re a petulant child, throwing a temper tantrum, impugning someone’s integrity because he came to ask for a change in the law that you so histrionically waved.
He reminds me of Cheswick in “One Flew Over the Cuckoo’s Nest”: “I want MY cigarettes, Nurse Ratched!”

It’s appalling that people defend Obama’s debt by saying Bush had debt too.
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The difference is this . . . Bush had a deficits and doubled the national debt when there was NO economic collapse.
Times of economic collapse place heavy demands on government programs and strip away tax revenues creating deficits and debt – that is what is going on now.
Bush did not have the defense of an economic collapse for his debts. Obama most certainly does.