New York Times:
Unemployment is rising. Foreclosures are surging. Lending is still constrained. So why exactly is the Obama administration waiting to act?
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Go to Whiteouse.gov, and see the MANY laws programs that President Obama has already passes to help with:
- Job creation with the passage of the Stimulus Package otherwise known as the American Recovery and Reinvestment Act . - SIGNED on FEBRUARY 17th
- Home Forclosures ( The Helping Families Save Their Homes Act - which helps makes their mortgages affordable and avoid preventable foreclosures. This bill makes this help easier to access, and establishes protections for renters living in foreclosed homes, and establishes the right of a homeowner to know who owns their mortgage. It also provides $2.2 billion to address homelessness, helping families be part of the recovery one by one. - The Helping Families Save Their Homes Act expands on the success of the Making Home Affordable Program first announced in FEBRUARY
- State Children's Health Insurance Program or SCHIP (which continues coverage for six to seven million children and increase that coverage to four million more.) - SIGNED ON FEBRUARY 4 th
- Credit Card reform legislation - ( A law to protect consumers from unfair rate hikes and abusive fees.) - SIGNED on MAY 22nd
- The Fraud Enforcement and Recovery Act - (gives the federal government more tools to crack down on the kind of fraud that put thousands of hardworking families at risk of losing their homes. It expands the Department of Justice"s ability to prosecute at virtually every step of the process from predatory lending. - SIGNED MAY 20th
Do you think we are still that gullible? Aside from S-Chip, NONE of those laws have been successful- they are half a$$ed and only wasted money because they were written so that people like you would believe something was being done to help Main Street.
Co-sign
The problem is that these bills sound good reading them, but they're not working because there is no required action.
Example" Many states getting stimulus money are not using it for creating jobs. Instead, they're using the money to balance their budgets.
Home foreclosure act...come on, everybody knows, many from painful experience, that the banks are not holding up their end of the bargain....because nowhere in that bill does it say they have to.
That's the cruel joke played on the American people.
Congress tells us about these great-sounding programs, then they meet with lobbyists to dig out some great big loopholes, taking away any enforcement the bills have, then they pass them.
We end up with all talk, no action.
The Senate has passed bills to help reduce unemployment but they're at risk from Pelosi and Reid's behind closed door tactics to remove them once again.
We need to SPEAK OUT to keep them from stripping these provisions again in committee like they did a few months ago.
http://www.numbersusa.com/content/nusablog/beckr/july-14-2009/u6-unemployment-people-who-will-be-hurt-most-if-pelosi-reid-kill-e-verif
He didn't wait to act here__
"AIG was no longer legally obligated to pay off its debts -- like those to Goldman Sachs (that's what bankruptcy is all about after all). Yet the Obama administration and Congress authorized AIG to use taxpayer money to pay off those debts in full. If taxpayer money hadn't been made into Wall Street's golden egg, Goldman Sachs' golden goose would have been cooked; they would have received pennies on the dollar."
How many schools could the money that went to Government Sachs have provided for?
how bout the money goes to the freaking private sector for once. You know, the people that foot the bill for the gov't.
Yeah That would be a change I could believe in...
With 75% of ownersip and income resting inthe hands of only a few (4%) and the workers being increasingly taxed while receiving less and less compensation, The elite is trying to extend the pubble to keep the rich rich and the poor poor. No small feet with the demands of a developing globe.
Hiring all contractors to rebuild the nations highways and bridges would switch the the balance to higher wages and more jobs balancing work and effort in the favor of the working class.
My numbers are old on the unequal distribution of wealth. I knew it was bad but I didn't realize it have gone that far. I believe the Roman Empire collapsed in civil war when the wealth distribution was 90% of wealth to 5% of the population. We seem to be moving inthat direction.
Look at the Tax Code if you and your wife each make 100K you are taxed out ot the second income plus even more. $200K puts yoy into the top 10% of the country because it is that lop sided. Yes 10% pay absolutely more tax dollars because the 90% have so little and are lossing more all the time. Simple math.
60% of all after tax profits is distributed to Secondary Stock Traders for trading stock with no SWEAT or GENIUS contribution.
Thanks for the Roman Empire info, I will verify where we stand.
ya and they say we dont need unions .just think where we would be now
Without unions, we'd still have the steel industry, the clothing industry, the electronics industry, etc.. the list goes on and on.
Obama's TARP continuation and Geithner plan has resulted in the creation of a new American Ruling Class (Prof. Michael Hudson) . A trillion dollars worth of American real estate has been transferred to the wealthiest investors for 7 cents on the dollar with the government (and taxpayers) guaranteeing the other 93cents. Goldman Sachs, accepting bailout billions is posting obscene profits nad pay packages to their employees (robber barons) Nothing redistributive has occured under Obama. NOTHING. He is NOT following in FDR's footsteps.
a three trillion dollar war / wars.and they have the ba@@s to talk about spending .practice what you preach.thank you mr bush .we wouldnt be this mess if you listened to the cia about 9-11
the party of no are turning on each other .thank you mr bush you did something right
Good grief NYT I'm so disappointed in you I actually thought you were a quality newspaper. Its been a few months things have been slightly improving and then one month it went bad can we wait a little before we go off and start making drastic moves.
What an embarassment. Its been years since I cancelled my subscription and more and more each day I'm convinced it was the right thing to do.
."[I] never saw a foreign intervention that the [New York] Times did not support, never saw a fare increase or a rent increase or a utility rate increase that it did not endorse, never saw it take the side of labor in a strike or lockout, or advocate a raise for underpaid workers. And don't let me get started on universal health care and Social Security. So why do people think the Times is liberal?"
New York Times reporter John Hess.
Beware that the NYT is suddenly calling for quick ostensibly progressive action on the economy. A return to progressive taxation would be good but I don't see them advocating for that.
A return to progressive taxation. According to the OECD, the US has one of the most progressive tax rates in the world, much more progressive than most of Europe. Exactly what do you people want, a 100% tax on those making more than $75,000?
the party of no ,will be no longer soon.they have made many mistakes and are paying for it now.
Germans were sure of their guy too 70 years ago...
nazzi party is the repuke party
The administration is in the process of finding out how many GOP - connected business leaders are purposefully laying off workers to boost their political agenda of destroying the economic infrastructure. When the tabulation is completed, many business leaders will be arrested, their businesses given to poor inner city residents. GOP politicians involved in this scandal will be taken to Guantanamo Bay for processing.
That's it...tax the GOP and bankers into oblivion.
plus sending there companies overseas and banks not lending to.which is why cti is in trouble . small biz couldnt get money from the wall street banks.many of these people will have to do some explaining soon.
Avoiding the problem isn't exactly "waiting".
no rush to do something wrong.bush didnt know that ha
Go to Whiteouse.gov, and see the MANY laws programs that President Obama has already passes to help with:
- Job creation with the passage of the Stimuus Package otherwise known as the American Recovery and Reinvestment Act . - SIGNED on FEBRUARY 17th
- Home Forclosures ( The Helping Families Save Their Homes Act - which helps makes their mortgages affordable and avoid preventable foreclosures. This bill makes this help easier to access and take advantage of credit , establishes protections for renters living in foreclosed homes, and establishes the right of a homeowner to know who owns their mortgage. It also provides $2.2 billion to address homelessness, helping families be part of the recovery one by one. - The Helping Families Save Their Homes Act expands on the success of the Making Home Affordable Program first announced in FEBRUARY
- State Children's Health Insurance Program or SCHIP (which continues coverage for six to seven million children and increase that coverage to four million more.) - SIGNED ON FEBRUARY 4 th
- Credit Card reform legislation - ( A law to protect consumers from unfair rate hikes and abusive fees.) - SIGNED on MAY 22nd
- The Fraud Enforcement and Recovery Act - (gives the federal government more tools to crack down on the kind of fraud that put thousands of hardworking families at risk of losing their homes. It expands the Department of Justice’s ability to prosecute at virtually every step of the process from predatory lending. - SIGNED
And we have the tr0|| thread of the day apparently...
Reagan by the numbers … (1981 vs 1989)
Unemployment - 7.7% to 5.3% (31% decrease; 65% basal corrected)
Interest rates (prime) - 20% to 11% (45% decrease)
Inflation - 10.4% to 4.8% (54% decrease)
Federal tax revenues (real dollars) - $599 B to $991 B (65% increase)
GDP (real dollars) - $5980 B to $7889 B (32% increase)
http://data.bls.gov/PDQ/servlet/SurveyOutputServlet
http://www.moneycafe.com/library/primeratehistory.htm
http://inflationdata.com/inflation/Inflation_Rate/HistoricalInflation.aspx?dsInflation_currentPage=1http://www.cbo.gov/budget/historical.shtml
www.ers.usda.gov/Data/.../Data/HistoricalRealGDPValues.xls
... not too shabby, Gipper, not too shabby at all
tax burden 135 percent on the middle class and small biz .good job gipper
...and the added debt?
yes ,much debt.
Did he QUADRUPLE the deficit in 6 months like Obama has? Did he create a RECORD- debt of $ONE TRILLION like Obama has?
Over 8 years, not 5 months. Just a little difference there...
m0r0n...
The Gipper was the rich man's President. The Gipper was in office for 8 years. Obama has been in office for 6 months. It will come down to jobs for Obama. If he doesn't produce by 2010 the public may punish him by voting for the GOP in the mid-terms. If he doesn't produce in his first term than America may fire him in 2012. It's way to early to start judging.
We had better economic performance during 40's 50's 60's under Keynesian policies.
You don't suppose WW2 (in the 40's) and the Cold War in the 50's and 60's gave our economic performance and GNP a boost, do you?
All you smug Republicans; that $400 BILLION you wasted in Iraq would be pretty handy right now, huh?
and it will end up costing over three trillion by the end.
You're being to generous with $400 B. Try almost one trillion dollars wasted in Iraq, not to mention over 4,000 American lives. And not one dime is coming back. $0 for the American tax payer.
400 Billion was just the amount stolen. Add a few trillion to that cost.
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Posted: 07-15-09 01:06 AM