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Obama Makes History... Breaks US Debt Record In Just 30 Days »
Posted By pc25 8 months, 3 weeks ago in NewsOn Friday the 13th , the Democratic Congress will approve the largest On Friday the 13th, the Democratic Congress will approve the largest transfer of private wealth to public officials in US history.
That move will put the 2009 Democratic Congress and President Barack Obama into the record books.
Read Full Story at gatewaypundit.blogspot.com »
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pc258 months, 3 weeks ago
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wonderful news considering the White House now admits the stimulus wont work
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White House dampens stimulus expectations
http://news.yahoo.com/s/nm/20090215/bs_nm/us_usa_s...
but we had to pass it asap-
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Leemck028 months, 3 weeks ago
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pc25, think about it as the price for having gone to far with Tax Cuts and no emphasis on production or bottom-up building; as some say, the chickens are coming home to roost. Don't be to quick to predict the outcome, the money was only transfered, wait to see if the expenditures balances before you cheer for failure.
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UnusualSuspect8 months, 3 weeks ago
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And if McCain had been elected...you don't think some sort of stimulus plan would have been passed as well, and that it would probably be close to being as much, the same, or more, than what was passed?
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Or if McCain have not created a stimulus package, would he and the rest of the Republicans let the country go down the tubes?
Get real, pc...wake up, and open your eyes... -
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Wolfie20078 months, 3 weeks ago
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Leemck028 months, 3 weeks ago
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Wolfie2007, not quite, he is saying we still need to hit the bottom, and he is trying to raise it up a bit before we reach terminal velocity. Hopefully, when we hit we'll bounce not break.
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Eight years of blunders and debt and your faith was strong, even when the same people who knew everything about how Tax Cuts was going to make the economy better still were talking about a "fundamentally strong economy". Wishful thinking, hopeful that President Obama fails to ease the embarrassment that the GOP is not fiscally responsible and worst, are not fit to represent the nation.
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Klarissa8 months, 3 weeks ago
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Obama said:
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"We've gotta spend some money now to pull us out of this recession. But as soon as we're out of this recession we've gotta get serious about living within our means instead of leaving debt for our children and grandchildren and our great-grandchildren. That's not the responsible way. That's not how folks here in Peoria operate in their own lives and they should expect the government is equally responsible."
Comments out of both sides of the mouth.
Spend money
VS
Don't spend money that you don't have.-
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pc258 months, 3 weeks ago
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He was like Kurt Russel in used cars......this car is you, you need this car, sign on the line now, if you don't someone is gonna come in a take this beauty away........hurry, dont want to see you loose out......
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http://www.youtube.com/watch?v=ZQiTRQTiMGY -
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Leemck028 months, 3 weeks ago
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Klarissa, your statement shows little understanding. "Spending money" is not the same; there are the wise and the foolish. When the GOP does it, it goes to the Top and we wait foolishly for it to trickle down, the rich get richer and the country nears collapse. When this administration does it, it will go into supplying multiples in local economies where the dynamics increase.
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I just hope he can get it straight to people and companies, right pass the Republican locals who will still direct it to special interest. That is this President's challenge. Look at broke SC and the Republicans trying not to help their economy. The people will soon find out the hopes for the South rising again is not good economic sense.
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nostalgia8 months, 3 weeks ago
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It's not over yet
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As I posted on another story:
It also appears that Prince Timothy was a little more specific with the details of his new program with the G-7 than he was in his speech here which bombed
According to an article on Bloomberg.com:
G-7 Says ‘Severe’ Downturn to Persist, Vows to Reverse Slump
Group of Seven finance chiefs vowed to tackle a “severe” economic downturn that will persist for most of 2009 without spelling out new steps to do so.
The G-7’s finance ministers and central bankers said in a statement released after talks in Rome yesterday that they were working to restore confidence in markets and revive the world economy. They predicted the full effect of individual rescue packages will “build over time.”
Geithner, a former Treasury undersecretary in the Clinton administration, returned to the G-7 stage after a week in which investors complained his $2 trillion plan to revive lending lacked detail. His colleagues yesterday urged him to push ahead.-
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nostalgia8 months, 3 weeks ago
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And in case you haven't seen this yet:
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Democrats Tailor Foreclosure Bill To Obama Goals
As President Obama prepares to announce a program next week to stem the soaring rate of foreclosures, key Democratic lawmakers say they are planning to craft a housing bill that would give the administration the authority it needs to carry out several elements of the initiative.
Obama will unveil the plan Wednesday in Arizona, among the states hardest hit by the housing downturn, White House press secretary Robert Gibbs said yesterday.
Rep. Barney Frank (D-Mass.), chairman of the House Financial Services Committee, said the administration's program would probably require changes to federal law. Some of those are already working their way through Congress. But Frank said he is looking to pull them together into a single housing package.
http://www.washingtonpost.com/wp-dyn/content/artic... -
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nostalgia8 months, 3 weeks ago
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AND don't forget
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Congress has not passed the appropriations bills for fiscal year 2009 which started last October!
They will be doing that when they get back from break in one huge omnibus appropriations bill
After that they will be working on the appropriations for fiscal year 2010
Now this story:
UN lobbies for share of bank rescue funds
The UN and the World Bank are lobbying for a portion of the billions of dollars allocated to bailing out the West's banking systems to be diverted to prevent 400 million people sinking into poverty across Asia in the wake of the global economic crisis.
UN officials say that such a plan is necessary to prevent severe social unrest in poor countries, especially among the tens of millions of migrant workers who are being forced back to their villages as jobs dry up in the cities of Asia.
A similar scheme has been proposed by Robert Zoellick, the head of the World Bank, who recently called for a "Vulnerability Fund" to which each developed country would contribute 0.7 per cent of its stimulus package.
http://business.timesonline.co.uk/tol/business/ind...
And guess which agency in the UN will run the program - the same one who handled the Iraq "Oil for Food" program
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Leemck028 months, 3 weeks ago
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Nostalgia, who are we to wait on? Are we to do more of the TAX Cuts? And Bloomberg was saying what when the nation was going down the tubes? By the way, what did the G-7 say for the last 8 years? Let's talk credibility.
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Is this a repeat of President Clinton's tenure, when all the TAX Cutting guru's was in lockstep, and rubber stamp spending also making Big Government while saying the opposite, meantime damning Clinton's policy only to find he made the surplus? Check the record.
Clinton can't spend and raise taxes they said. This is a laughing stock if we weren't in a near collapse. Somebody need to get serious.-
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nostalgia8 months, 3 weeks ago
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"Clinton's policy only to find he made the surplus"
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You are joking right?
That "surplus" was the result of 2 things - Congress cutting spending (now go back and look at who controlled congress when there was a "surplus") AND the usual inside the beltway accounting gimmick of adding the Social Security surplus into the general fund and be spent. It helps mask deficits
And I seem to recall Clinton refusing to sign a budget because of the cuts Congress made. It resulted in the government being shut down
Were you asleep during the Clinton years or just ill informed? -
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Wolfie20078 months, 3 weeks ago
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Lemck
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Hey genius has it ever occurred to you that maybe the federal government could cut spending instead of borrowing a trillion dollars to blow on pork projects? Cutting all taxes for people who pay taxes would stimulate the economy. The problem for you is you're so eaten up with class envy you can't see the truth. What a pitiful ideology you have take from those who earned and throw their dollars down a rat hole..
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Leemck028 months, 3 weeks ago
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Huckabee is on the sidelines and should offer something constructive if he is to say anything at all. What did he say during the 8 years (plus) that this mess was building up? He is good for hind sight at best; but then he isn't saying "what ever you do, don't do the Tax Cuts in the Top Down strategy as a solution", so he not to be considered as credible now.
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wtagg8 months, 3 weeks ago
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Just think, you supported the admin that started it all and are now complaining about continuing what they started. Jumping on the bandwagon a little late, aren't we?
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Or is it that the former admin's banking friends got what they wanted and it should stop there?
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pc258 months, 3 weeks ago
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If you check the chart which shows the federal surplus or deficit as a percentage of GDP it is the highest it has been in 30 years. It is almost 3x the deficit that the Carter administration was running in 1979 and he has along with Nancy Pelosi miraculously achieved this in less than 30 days..........
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Leemck028 months, 3 weeks ago
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PC, the money has not been spent yet, so we are not any worst off. As investments go, you have to spend (buy) first, then see if the choice for a return was a good pick. That was real money lost with 'W' and company, that's really gone, and we don't know where.
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When we lose accountability and find this President has ties with offshore accounts and funky companies then its time to worry.
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pc258 months, 3 weeks ago
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http://gatewaypundit.blogspot.com/2009/02/generati...
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Sunday, February 15, 2009
Obama Broke 7 Promises With Generational Theft Act
Good work, Dems!
It only took 3 weeks and the largest transfer of private wealth to government officials in the nation's history for Barack Obama to break at least 7 of his campaign promises.
Sweetness and Light explains:
7 Broken Promises in Record Time
1. Make government open and transparent.
2. Make it "impossible" for Congressmen to slip in pork barrel projects.
3. Meetings where laws are written will be more open to the public. (Even Congressional Republicans shut out.)
4. No more secrecy.
5. Public will have 5 days to look at a bill.
6. You’ll know what’s in it.
7. We will put every pork barrel project online. -
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greenmac8 months, 3 weeks ago
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As usual PC25 and Woolfie are wishing for Obama/USA to fail ... what patriots. The former administration was handed a surplus and it was squandered away....what a shame.Now obama is doing his best to try and save the country from tanking out and the cheerleaders for the former administration ,both inside and outside the government, have become experts on the economy....what a laugh.
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pc258 months, 3 weeks ago
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Wolfie20078 months, 3 weeks ago
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greenie
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I have no reason to wish for the bill to fail even though I know it will and it will make the economy even worse. I wish it could be different but I am one of those who looks at past history and I learn from it. It's too obvious that you don't. How is it that you say Obama is doing his best when he hasn't even come close to doing the right things? Compared to you and your crowd the conservatives here on Propeller are freaking genius on the economy and you're a joke. Yeah, I'm laughing!
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traceanyone18 months, 3 weeks ago
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We're in a situation where we're damned if we do and damned if we don't. There no clear solution, politicians don't the answer if they did they would be shouting it all over.
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You can't just sit idly by and complain it does'nt help any. If the US economy collapse we all suffer. Do what you can where you're at to help.
We buy from and need each others services egardless of party affiliation. -
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injest8 months, 3 weeks ago
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WASHINGTON (Reuters)- President Barack Obama's aides warned Americans on Sunday not to expect instant miracles from the $787 billion economic stimulus bill he will sign this week, but said it would help eventually.
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“it would help eventually”
So will buying a pack of gum.
A pack of gum does not cost $787 billion -
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injest8 months, 3 weeks ago
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Here’s a thought.
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How bout we put 785 billion dollars, in one dollar bills, loaded into 40ft long simi trailers.
We can rig some sort of venturi /vacuum thing that as the truck goes down the road dollar bills are sucked out and float down to the ground!
Then Americans can follow the trucks picking up the money!
That will get the money out to the public faster than 3 years!
Stimulus is Spending.
Spending is Spending.
Give the money to all Americans and let them spend it!
Americans spending IS Stimulus!-
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skyking2p8 months, 3 weeks ago
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injest you plan sounds a lot like the one GW bush had to take plane loads of US dollars and spread it around Iraq. That is part of your parties legacy . I find it interesting that you are ok with spending more than one trillion dollars in iraq (and still counting ) than spending this money in the US.----- I was called a traitor for not supporting for not supporting the Iraq war.
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JohnGault8 months, 3 weeks ago
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People think, that this is somehow Free money, for every dollar spend, it will have to be repaid with interest back. It will be our children and their children that have to pay for this.
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Between the wars, the Tarp, and now the stimulus, we are looking over 3 Trillion, and this is just to start. This is NOT our money to spend, and it COULD be a huge anchor on the future generations to pay off. All people are asking for, is to get it right. Work on a plan that gives the people confidence.
As for paying off this debt. Not related to but in the works.
The Government is already starting steps to create a new mileage tax, a measure that would be a GPS tracking device in your car! In the guise of needing more revenue, they are invading our privacy. Are we going to tolerate this!-
stalemateComment removed: Retracted by user
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quackpot8 months, 3 weeks ago
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How to puzzle a neo-con...
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Take the goose that borrows from future generations to improve future generations via public works projects -->and convert it to a golden egg for ME ME ME.
Ask'em what more can government do for the ultra-rich.
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SFCGuyW8 months, 3 weeks ago
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Of course he broke the debt record. One second after becoming President that record was broken because government pay and expenses and services continue each day and that creates debt. Bush left office with having created the most massive debt in history of the USA govt. and it is rediculous to blame Obama for that debt still building when he's only been in office for one month. Before leaving office Bush publically stated that some kind of stimulous package must be passed to try to save our economy, but he said there was not enough time for him to get one passed so he was leaving it to Obama to handle. Bush created this problem and now Obama has to try to repair it and it is rediculous for anyone, even the Rush Limbaughs & his ilk, of the world to condemn him without giving him the time needed to correct what it took 8 yrs to destroy.
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