It's Us Versus Them with the Stimulus

The $800 billion Stimulus Package that the Obama Administration is forwarding, having met with unanimous GOP House disapproval and facing uncertain change in the Senate has the public's rapt attention as we see the accelerating rate of job cuts, corporate losses, home foreclosures, and business failures. Widespread public apprehension is spreading about the wisdom of loaning more money to Banks and Corporations who continue to splurge on luxuries. The A.I.G. retreat of last year in the wake of the initial phase of the Bailout, the John Thain office extravagance at Merrill Lynch, and Citigroup's widely reported Presidential phone call resulting in cancellation of the $50 million jet.

Those accustomed to the 'lifestyles of the rich and famous' just don't get it! During this global recession, bonuses, luxurious trappings, and corporate extravagance are off the table. It reminds me of the absurdity of Bernie Madoff's complaint about being confined to his Penthouse after being charged with a $50 billion Ponzi scheme. The Republicans in Congress are actually enablers for this mindset and their worn mantra of tax cuts for the wealthy are profiting from their loyalty and are caught in the untenable position of either following Rush Limbaugh and remain loyal to Corporate greed and corruption or risk going against the GOP's monolithic attempt at maintaining the status quo. I have but one suggestion for them: Get a grip!

Calling much of the Stimulus welfare and socialism, republicans attempt to create the impression that money spent on anything that isn't infrastructure such as 50 million on the National Endowment For The Arts is not going to help struggling artists earn. Joe Scarborough on Morning Joe had to be reminded frequently by Mark Halpern during Monday morning's broadcast that, since the Democrats have won, the stimulus that will emerge from the Senate will and should reflect more of they want in the Package. Joe was forced to admit that the Republicans used fear and 3000 lost lives to push through gargantuan government wasteful spending after 9-11. The Republicans are jumping on Obama for claiming: "We Won" and "Now is not the time for profits" as proof of his Lenin like socialistic outlook. In reality, profitability is not our biggest concern now, it is keeping the doors open until the economy recovers enough until profits are possible for American industry. And yes, America kicked the Republicans to the curb in November in no small part due to the way they wrecked the economy.

The President spoke forcefully about the unconscionable $18.4 Billion corporate bonuses paid this year matching those of 2004, when the DOW was profitable. Recognizing the impact public furor over wasting these funds and the threat to his unprecedented support it engenders, Obama will wield his Bully Pulpit and publicly admonish and embarrass those intent on abusing the process. The creation of the new task force led by Vice Pres. Joe Biden announced Friday, is an attempt at assuaging public fears about the Stimulus as well as offer a public sounding board on the issues and process.

The new website, announced by Vice President Biden as astrongmiddleclass.gov is in actuality http://www.whitehouse.gov/strongmiddleclass, a small gaffe on the site rollout (it beats Bush's 'Internets' by a mile) is touted as a conduit to the general public as a source of information and input of ideas. At the risk of sounding like a snitch or communist state advocate, it should also serve as a whistle blower site for the transparency we need with the Stimulus Package that will eventually emerge for Obama's signature. Employees of Corporations using T.A.R.P. and/or Stimulus funds could use the new web site to report abuses of the Public Trust they see in the workplace. When BofA and other execs attempt to secretly plot to deny unionization that could improve the worker's rights, and public funds keep them afloat, it proves that those at the top have nothing but their own interests at heart. Any sense of Corporate loyalty should give way to recognition of the dire consequences of failure we face.

The money our grandchildren will be in debt for is our collective responsibility to insure that it is well-managed and well-spent. President Obama has on numerous occasions spoken of the shared responsibility we have to shoulder to return our country to fiscal viability and offer our citizenry opportunities for economic advancement. With the economic crisis, wars on two fronts and global terror a constant threat, we face the greatest challenge since World War II to our way of life. Let's do like the history books claim we did then; where we shared sacrifices, shared resolve, and shared victory which resulted in the boon of the 50's and 60's. Until those resisting a new way forward in how we reorient the American economy toward stability and success join the struggle in earnest, it's us versus them!

Comments

[Mildmannered]

Paul, you need to post more blogs/articles

[streak of rin tin tin]

Paul, I love your post!

[Xavieer]

This stimulus bill will pass period, and we get rid of a few neo-cons in the process....

[PhilipTaylor]

75% of Americans want the Bill Passed PRONTO!

PRINCETON, NJ -- A strong majority of Americans (75%) want Congress to pass some version of President Obama's economic stimulus plan.

http://www.gallup.com/poll/114097/Americans-Support-Stimulus-Major-Changes.aspx
__________­__________­__________­__________­__________­__________­_________

If No Republican's support the JOBS Bill Force a Filibuster, they will neuter themselves with their Bush Tax Cuts!

After listening closely to the Republican comments most of what they want is:

1. Make Bush Tax Cuts Permanent
2. In Fact Give us more Bush Tax Cuts in the form of Corporate Tax Reductions
3. Trust the Big Corporations to get us out of this Crisis.

Basically, "Let's Have Four more years as if Bush Never Left Office!"

We all know how that turned out!

[Paul Peete - Huffpost Blogger]

Yes, Their legacy is our misery!

[LizM]

"The new website, announced by Vice President Biden as astrongmid­dleclass.g­ov is in actuality http://www.whitehouse.gov/strongmiddleclass, a small GAFFE? (my emphasis and question) on the site rollout (it beats Bush's 'Internets' by a mile) is touted as a conduit to the general public as a source of information and input of ideas."

You gotta be freaking kidding me!!! And, by the way, Bush was technically correct about the 'internets'...just his dumb luck.

[Jazzman323]

You don't need Republicans to pass this bill. You have the votes. Move forward and pass this "Obama Kickback" bill and be done with it.

[Paul Peete - Huffpost Blogger]

You mean kick-start. The way Bush left the economy, it has to be reignited from the smoldering embers!

[Jazzman323]

Until they acknowledge what happened with the economy, the fixes will not do anything. Historically recessions self-correct over time. Government interference just prolongs them.

[only1Demvoter]

Paul : Given that these Rethug manipulative Fabricators have positioned themselves in the uncomfortable position of ' Us VS Them ', and with the real possibility of being left behind due to the ' Victor goes the spoils ' factor... You'd think that they'ed be more amenable to bipartisan concession, constructive participation, etc. ...

One would assume, given recent election results... '06 included... That they'ed WANT to make certain Platform ' adjustments ' !!

... Especially considering both the rosters in House and Senate, and not withstanding the real possibility of simply being left waiting at the bus stop with hat in hand !

( Maybe you can't teach an old dog new tricks... )


More to follow. -ralph

[Paul Peete - Huffpost Blogger]

They actually defy logic in how they operate. We are seeing the meltdown of the Republicats, and good riddance to bad rubbish!

[Mildmannered]

I think that the republicans, Paul, are actually gaining a little bit of traction, unfortunately, in the stimulus bill argument.

[oustfan]

I cannot believe that the only thing that Bush and Obama have agreed on is that the solution to the economic problem is to give the people responsible for the mess MORE money.

[only1Demvoter]

oust : It is good that you don't believe that Obama and GW agreed on that, as it is not true.


-ralph

[realitybytes96]

What about upfront money? When a broker leaves to go to another firm they receive up front money. The nicer name for this is forgiveable loan. I am currently hearing rumors that brokers are receiving up to 300% up front money to go to a certain TARP institution. I don't know what all the firms are paying but I am hearing rumors from friends in the institutions that they can get 200-300%. What I understand this to mean is that if they receive 300% up front money and produced 1,000,000 in commissions they will receive a loan of 3,000,000 which becomes forgiveable over time(usually 7 years). I think this is unforgiveable and I wish the media would do some investigation into this. Is it ethical for brokers to be doing this even though they are signing legal contracts?

[learnsomething]

President Obama and Bush are total opposites on how the country should run.