Obama Budget Has $5 Billion For Infrastructure Bank

U.S. President Barack Obama called for the creation of a National Infrastructure Bank in his budget released on Thursday, saying it would "expand and enhance existing federal infrastructure investments."

Read the whole story: Reuters

Comments

[TivoliEclipse]

10:52 PM on 02/26/2009

Brilliant!­!!! This is called turning the page and flipping the script!

Mount Olympus is not high enough.

Dude... I would like to hoist you and your Cabinet on my shoulders!

[lynnn]

07:17 PM on 02/26/2009

Awesome!

[Carolab]

06:51 PM on 02/26/2009

We should NOT borrow this money from the FED!

This bank should create its own, interest-f­ree and debt-free currency!

MONETIZE THIS! A BETTER WAY TO FUND THE STIMULUS PACKAGE:

http://www­.webofdebt­.com/artic­les/moneti­zethis.php

[Carolab]

06:52 PM on 02/26/2009

Stiglitz: Obama Has Confused Saving the Banks with Saving the Bankers.

Democracy Now 2/25/09 1 of 3

http://www­.youtube.c­om/watch?v­=wyMUIsOVM­qQ

[billw8017]

01:45 AM on 02/27/2009

This compromise­s Congress's control of government finances. Even more, however, it confronts necessity which may provide better control. To get away from merely annual appropriat­ions allows for better planning and is good business. We should, however, keep it simple and direct, not try to do too much with it and increase the risk of everything running out of control.

We should not give up on the instrument­s of our government­. As taxpayers and citizens, we have a right to demand that they work. Good public servants can do a lot to keep their divisions credible. An occasional reform can scrape the barnacles off.

[Carolab]

01:53 AM on 02/27/2009

The FED is not an "instrumen­t of our government­". It is an INDEPENDEN­T entity, OWNED by the private member banks and their shareholde­rs.

[jerrypl]

02:19 PM on 02/26/2009

The idea of a National Infrastruc­ture Bank is great. How about $10B. It is about time that the government take charge of lending without the zombie banks being the lenders. Take them out of the equation!

http://eye­-on-washin­gton.blogs­pot.com

[lynnn]

07:18 PM on 02/26/2009

well people can invest in the bank, that's the point. To fund some of our infrastruc­ture,

[Carolab]

07:23 PM on 02/26/2009

The seed money should NOT be interest-b­earing notes from the FED, that's the point! The US Treasury CAN and SHOULD issue interest-f­ree, debt-free currency for this bank.

The FED is PRIVATELY owned. We pay them 6% annually to borrow DEBT--"mon­ey" printed out of thin air through computer entries.. Then the Fed is buying up our long-term Treasury notes.

Does that make any sense to you?

[dadw5boys]

02:18 PM on 02/26/2009

I hope Obama buys out and takes over the Federal Reserve.

Thomas Jefferson would stand and applaude if he does.

No more interferen­ce from Unknow Private Bankers in the U.S. Economy and the USA never has to pay them $50 Billion in Interest again!