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"The people who cast the votes don't decide an election; the people who COUNT the votes do." -- Joseph Stalin
Showing posts with label consumers. Show all posts
Showing posts with label consumers. Show all posts

Saturday, April 25, 2009

Obama Calls for Passage of PAYGO Legislation

Staying Ahead of the Game

In his weekly radio address, President Barack Obama called for a return to fiscal discipline, and outlined a four-step approach to reining in spending and eliminating waste.

It’s time to fundamentally change the way that we do business in Washington," said Obama. "To help build a new foundation for the 21st century, we need to reform our government so that it is more efficient, more transparent, and more creative. That will demand new thinking and a new sense of responsibility for every dollar that is spent.”

Obama, who held his first full cabinet meeting this week, said that he used the meeting to send "a clear message: cut what doesn't work."

He added that "we will continue going through the budget line by line, and we’ll identify more than 100 programs that will be cut or eliminated.” He did specify any of the programs, or say how much those cuts might save.

The president called on Congress to pass PAYGO legislation, saying that "we need to adhere to the basic principle that new tax or entitlement policies should be paid for… so that government acts the same way any responsible family does in setting its budget."

His plan also includes establishing a system for federal employees to submit ideas for cost cutting and a private sector forum on reforming government.

We cannot sustain deficits that mortgage our children’s future, nor tolerate wasteful inefficiency. Government has a responsibility to spend the peoples’ money wisely, and to serve the people effectively,” he said. “I will work every single day that I am President to live up to that responsibility, and to transform our government so that is held to a higher standard of performance on behalf of the American people.”

SOURCE: Politico















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Wednesday, March 25, 2009

The Truth About the SubPrime Mortgage Scandal

It's one of the most amazing displays of journalistic incompetence and malpractice in recent memory. The US news media failed to draw the obvious connection between the bizarre federal law enforcement investigation and leak campaign about the private life of New York Governor Spitzer, and Spitzer's all out attack on the Bush administration for its collusion with predatory lenders.

While the international credit system grinds to a halt because of a superabundance of bad mortgage loans made in the US, the news media failed to cover the details of Spitzer's public charges against the White House. Yet when salacious details were leaked about alleged details of Spitzer's private life, they took that information and made it the front page news for days.

To the 9/11 fiasco, the Iraq War, the travesty of the federal response to Hurricane Katrina, and the shredding of the US Constitution, we can now add a deliberate and reckless undermining of the credit and banking system of the US to the list of Bush administration "accomplishments." No external enemy, or group of external enemies, could have done as much harm to the nation as this group has in less than eight years.

Do you think it's a coincidence that a Bush was involved the last time the US banking industry fell into a black hole because of White House-facilitated fraud? There's actually a lot of money to be made blowing up banks. Here's how Bush Sr. and his friends in the Mafia and CIA profited from it the last time:

Bush, the Mafia, the CIA and the Savings and Loan Scandal




PART 2




The Bush administration actively interfered with states that attempted to enforce their own state lending laws. Bush & Co. used the Office of the Controller of the Currency to sue states like New York to stop them from going after predatory lenders. Bush Jr. is not the first Bush to get "hands on" involved in shaping the lending industry to his will. Many know that one of this brothers, Neil, was part of a spectacular Savings & Loan failure in the 1980s.

What far fewer people are aware of is how deeply the CIA, organized crime and, George Bush Sr. were involved in the Savings & Loan disaster which caused US taxpayers and estimated trillion dollars plus. The term of art for these kinds of operations is a "bust out." The scam works as follows: an organized crime group takes over a business, borrows as much as it can in the business' name, fails to pay vendors and then disappears with all the cash.

The Bush family and its associates in organized crime and the CIA figured out how to run this scam on a multi-hundred billion dollar level using the entire US banking system as its playground. When you consider that Reagan was probably out o
f it from Day One of his term and that Bill Clinton is a close associate of George Bush Sr., the Bush crime syndicate has been influencing when not outright running the executive branch continuously since 1980, which, perhaps not so coincidentally, marks the earliest days of the credit bubble the economy is now having serious trouble digesting.

. . . and the Republicans are trying to blame Obama!






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Friday, March 13, 2009

Media and GOP Team Up to Con the Public

CRY ME A RIVER

This is ridiculous. The media has been obsessing about President Obama's plan to roll back the Bush tax cuts for the wealthiest Americans—from 35% to 39.6%—even suggesting that makes him a SOCIALIST. 

But do you know what tax rate the wealthiest Americans paid on the top portion of their earnings at the end of Ronald Reagan's first term?
50%.

Under Richard Nixon?
70%. Under Dwight Eisenhower? 91%!

Shocking, right?

And for all the whining about rolling back Bush's irresponsible tax cuts, the truth is that O
bama's plan cuts taxes for 95% of working Americans who are struggling to make ends meet. Further, it closes huge tax loopholes for oil companies, hedge funds and corporations that ship jobs overseas so that we can invest in the priorities that will get our economy back on track.

Set the Record Straight

Republicans are distorting the facts, and we need to set the record straight: Obama's budget asks far less of the rich than President Reagan or Nixon did.

Pass this chart on to your friends, so everyone knows the facts.

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Monday, February 23, 2009

Obama Speaks Out on Fiscal Responsibility



OBAMA BLASTS BUSH DISHONESTY

President Barack Obama took aim at the “casual dishonesty” of Bush administration budgets Monday, saying he’ll abandon accounting “tricks” used to hide the ballooning deficit and pledging to cut a $1.3 trillion federal shortfall in half during his first term.

I want to be very clear,” Obama said to open a “fiscal responsibility summit” at the White House. “We cannot and will not sustain deficits like these without end. Contrary to the prevailing wisdom in Washington these past few years, we cannot simply spend as we please and defer the consequences to the next budget, the next administration and the next generation.”

In his brief remarks, Obama returned several times to criticism of past budget practices that clearly was aimed at President George W. Bush’s administration, suggesting the former president and his team weren’t candid with the American people about the scope of the budget difficulties.

At one point, Obama criticized “the casual dishonesty of hiding irresponsible spending with clever accounting tricks, the costly overruns, the fraud and abuse, the endless excuses. This is exactly what the American people rejected when they went to the polls. They sent us here to usher in a new era of responsibility in Washington, to start living within our means again and being straight with them about where their tax dollars are going.”

Obama also made clear that he believe he was inheriting the current budget mess from Bush — even though roughly a quarter of the $1.3 trillion deficit stems directly from Obama’s recently economic stimulus package.

Still, Obama said he would break from several of Bush’s practices in building his own 10-year budget being released Thursday. Obama said he would put the full cost of the Iraq and Afghanistan wars on the budget, and allocate money for natural disasters – two things Bush did not do.

We do ourselves no favors by hiding the truth about what we spend. In order to address our fiscal crisis, we have to be candid about its scope,” Obama said.

Failure to act quickly and decisively, Obama said, “we risk sinking into another crisis down the road, as . . .our bills come due, confidence in our economy erodes and our children and grandchildren [suffer].”

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Saturday, February 7, 2009

Why General Motors Deserves NOTHING


The EV1 - Shredded by General Motors


PLANNED BAILOUT: $10.4 billion in loans to General Motors Corp (GM.N), including $1 billion for GM to help its financing affiliate GMAC reorganize as a bank holding company; a $5 billion direct investment in GMAC; and GM could also qualify for a further loan of $4 billion in March. Att: President Obama. They don't deserve it. They are responsible for many of the problems facing the American transportation industry. Here is the evidence:

The US used to have a well developed electric street car system. What happened to these street car lines which could be found in every city from Boston to Los Angeles? General Motors & friends bought them up and destroyed them. THIS IS Not a conspiracy theory. It is a Historical fact, affirmed in court.

You know, maybe it wouldn't be such a bad idea if General Motors did go out of business. What has the destruction of the nation's street car system cost the country? A trillion dollars? Ten trillion dollars? You'd have to add up all the oil consumed that didn't have to be, all the environmental diseases that didn't need to happen, and all the economic constraints on poor and low income people that didn't need to be. Then there are the quality of life issues which are incalculable. Go to super-prosperous cities like Basel and Zurich in Switzerland and you'll see they excellent street car systems - just like we used to have in the US.



That's not all! What if a battery existed that allowed you to drive your car for 300 miles on a single charge? That would easily take care of most people's daily commuting needs. Unfortunately, we're years away from having a battery like this right? Batteries just aren't good enough to power cars and free households from dependence on oil companies and electrical utilities, right? Wrong. It exists, or rather it existed. The battery problem has been largely solved and not just in theory, but in production. Then GM bought its way in as a condition for using the battery in its cars. Then it sold its share in the company to Chevron. And now the battery is gone.

GENERAL MOTORS SHREDS ITS ELECTRIC CARS

. . . and they didn't stop there.










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Tuesday, January 13, 2009

Obama Extra Check Plan for Low-Income Seniors


Extra SSI Payment Considered

WASHINGTON – More than 7 million poor people who are elderly, blind or disabled and receive cash benefits averaging $477 a month could get an extra monthly payment as part of President-elect Barack Obama's $800 billion economic recovery plan.

Democratic congressional aides said the idea of an extra Supplemental Security Income payment is gaining traction on Capitol Hill as lawmakers and staff aides hold daily meetings to work out details of the upcoming stimulus bill. The aides spoke on condition of anonymity to discuss the closed-door negotiations.

Democratic lawmakers hope to have an economic stimulus bill ready for Obama's signature by mid-February, although officials indicated Monday night that numerous provisions are unsettled.

Several said the emerging legislation likely will provide at least $70 billion over the next two years to help states meet the demand for Medicaid, which provides health care for low income people, and another $25 billion more to help individuals who cannot afford to pay for private, post-employment health benefits.

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