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Obama: "My Way Or The Highway!" What America Wants Dosen't Matter!

President Barack Obama's soft-sell pitches to Republicans haven't gotten him very far on his economic stimulus plan, so he's resorting to a sharper tone that is at odds with his vow to make Washington less partisan.

Stopping just short of a take-it-or-leave-it stand, Obama has mocked the notion that a stimulus bill shouldn't include huge spending. He's also defended earmarks as inevitable in such a package. And he's pointedly reminded Republicans about who won the November election.

The heightened rhetoric reflects White House frustration that Obama's earlier efforts, which included high-profile visits to House and Senate Republicans last month, yielded not a single House GOP vote for the legislation. In the Senate, Obama and his allies were battling Friday for just a handful of Republican votes to avoid a bill-stopping filibuster.

"He's going on offense," Rep. James Clyburn, D-S.C., said after listening to Obama's more combative speech Thursday at a House Democrats' retreat. "I think the president decided that it's time to lay out the facts to the American people, as he did going into the campaign, and take control of this debate."

"We can't sit back and just let them define us," Clyburn said.

Some Democrats believe Republicans have done just that by highlighting questionable items in the roughly $900 billion package and using them to depict it as a pork-laden extravagance that won't do enough to stimulate the economy quickly.

Obama and his Democratic allies agreed to kill a few such provisions, such as money to resod the National Mall, in hopes of winning some Republican senators' support. Around midweek, however, Obama began changing his tone. Democrats need not apologize or compromise further except on small items, he said.

Some critics, he said at Thursday's retreat, contend the bill "is full of pet projects. When was the last time that we saw a bill of this magnitude move out with no earmarks in it? Not one."

Ratcheting up the sarcasm, the president said: "So then you get the argument, 'well, this is not a stimulus bill, this is a spending bill.' What do you think a stimulus is?"

"That's the whole point," he said, as the audience hooted and applauded.

Obama warned Republicans not to "come to the table with the same tired arguments and worn ideas that helped to create this crisis." Americans, he said, "did not vote for the false theories of the past, and they didn't vote for phony arguments and petty politics."

"They sent us here to bring change," he said.

Congressional Democrats in close touch with the White House say Obama would welcome more Republican support for the stimulus bill but has lost patience and feels Republicans have slapped his open hand of friendship. White House officials now talk of trying to win just the few GOP Senate votes needed to cut off a filibuster and pass a bill that could be reconciled with the House version.

Both sides, it seems, are ready to let voters -- and history -- cast their judgments on a dispute where the two sides differ widely. Both sides say polls support their positions.

Backers of the Obama stimulus plan "haven't been listening to the American people, who clearly want major changes in this bill," said House Republican leader John Boehner of Ohio.

House GOP Conference Chairman Mike Pence of Indiana said Friday he was disappointed that Obama had abandoned bipartisanship and "resorted to tough political rhetoric to pass the Democrats' so-called stimulus bill."

Democrats, however, say Boehner and Pence are trapped in an echo chamber of conservative talk shows and rock-ribbed Republican districts.

"There's a great disconnect between the way this plan is being perceived by the American people and the way it's being bantered about ... on the cable channels," said Rep. Chris Van Hollen, D-Md.

While Obama is aiming harsher words at Republicans in general, he has kept the fight from becoming personal.

Asked Friday who Obama felt was being "petty," White House press secretary Robert Gibbs demurred, and simply cited the need to stop job losses.

But Gibbs did not quarrel with a description of Obama's new tone as a "fist-in-a-velvet-glove approach."

"The president's tone denotes the economic crisis that we face," Gibbs said.

Even some of Obama's strongest supporters don't know if the tougher tone will prove more effective than the softer tone.

"It's a work in progress," Rep. Xavier Becerra, D-Calif., said of the stimulus package, which must be reconciled by the House and Senate. With Obama continuing to make personal appeals to lawmakers, he said, "it's still cooking."

Hitler gave people the opportunity to go along with his socialist programs too. And, if you didn't......

Reminiscent of what we are seeing the beginning of here. Remember, Hitler was elected in a time of economic turmoil on a platform of change after his country had been at war too!


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20 helpful answers

Lawmakers in 20 states move to reclaim sovereignty
Obama's $1 trillion deficit-spending 'stimulus plan' seen as last straw

As the Obama administration attempts to push through Congress a nearly $1 trillion deficit spending plan that is weighted heavily toward advancing typically Democratic-supported social welfare programs, a rebellion against the growing dominance of federal control is beginning to spread at the state level.

So far, eight states have introduced resolutions declaring state sovereignty under the Ninth and Tenth Amendment to the Constitution, including Arizona , Hawaii , Montana , Michigan , Missouri , New Hampshire , Oklahoma and Washington .

Analysts expect that in addition, another 20 states may see similar measures introduced this year , including Alaska, Alabama, Arkansas, California, Colorado, Georgia, Idaho, Indiana, Kansas, Nevada, Maine and Pennsylvania.

"What we are trying to do is to get the U.S. Congress out of the state's business," said Oklahoma Republican state Sen. Randy Brogdon.

"Congress is completely out of line spending trillions of dollars over the last 10 years putting the nation into a debt crisis like we've never seen before," Brogdon said, arguing that the Obama stimulus plan is the last straw taxing state patience in the brewing sovereignty dispute.

People are getting fed-up,  its time that we all wake up and take notice and maybe a positive change can come before its too late.

 

 
10 helpful answers

 

Remember the $750 Billion Bailout from this Fall?
It was just a couple months ago when we were told if we would just quickly hand over $750 billion to the Treasury Secretary to bailout his friends on Wall Street, he would make the economy all better. That didn’t work, and neither will an additional $825 billion. This Money Doesn’t Grow on Trees
And this has nothing to do with paper money being made of cotton and linen. The only way the government gets money is through taxing, borrowing, or printing—that is, it has to take it out of the economy in order to put it back into the economy. If government borrows the money for the stimulus, then it will either have to print money later or raise taxes to pay it back. If it raises taxes to pay for the stimulus, it will, in effect, be robbing Peter to pay Paul – probably with interest. If it prints the money, inflation decreases the value of the dollar for every American – robbing Paul to pay Paul.

 
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If you like the 750B and 825B bailouts, do a search on "7.4 trillion bailout" that hit the newswires in November.   I can't find a lot of info on this right now, even if they didn't do it in some under-handed fashion, it is very disturbing.   Glenn Beck talked alot about it, maybe thats why he is not at CNN anymore.   The story originally came from Bloomberg.   I'm afraid they want to keep this talk under wraps, delaying the inevitable.

Posted 2009-02-10T18:59:38Z
 
1007 helpful answers

Lets play ball JoeAnimated MonkeysThrow the ball back Biden

 

 

 

Nancy is changing the rules! Democrat "Hope and Change" is here! Bend over America!!?

Nancy will make sure America is totally controlled by the Democrat Party!..........Get ready for two years of Hell fire!

Pelosi Erases Gingrich's Long-Standing Fairness Rules
by Connie Hair

01/05/2009 Print This
!
House Speaker Nancy Pelosi plans to re-write House rules today to ensure that the Republican minority is unable to have any influence on legislation. Pelosi’s proposals are so draconian, and will so polarize the Capitol, that any thought President-elect Obama has of bipartisan cooperation will be rendered impossible before he even takes office.

Pelosi’s rule changes -- which may be voted on today -- will reverse the fairness rules that were written around Newt Gingrich’s “Contract with America.”

In reaction, the House Republican leadership is sending a letter today to Pelosi to object to changes to House Rules this week that would bar Republicans from offering alternative bills, amendments to Democrat bills or even the guarantee of open debate accessible by motions to recommit for any piece of legislation during the entire 111th Congress. These procedural abuses, as outlined in the below letter obtained by HUMAN EVENTS, would also include the repeal of six-year limit for committee chairmen and other House Rules reform measures enacted in 1995 as part of the Contract with America.
After decades of Democrat control of the House of Representatives, gross abuses to the legislative process and several high-profile scandals contributed to an overwhelming Republican House Congressional landslide victory in 1994. Reforms to the House Rules as part of the Contract with America were designed to open up to public scrutiny what had become under this decades-long Democrat majority a dangerously secretive House legislative process. The Republican reform of the way the House did business included opening committee meetings to the public and media, making Congress actually subject to federal law, term limits for committee chairmen ending decades-long committee fiefdoms, truth in budgeting, elimination of the committee proxy vote, authorization of a House audit, specific requirements for blanket rules waivers, and guarantees to the then-Democrat minority party to offer amendments to pieces of legislation.

Pelosi’s proposed repeal of decades-long House accountability reforms exposes a tyrannical Democrat leadership poised to assemble legislation in secret, then goose-step it through Congress by the elimination of debate and amendment procedures as part of America’s governing legislative process.

 

http://www.cartoonstock.com/lowres/epa0879l.jpg

http://bartblog.bartcop.com/wp-content/uploads/2008/05/my-way.jpg

 

http://i243.photobucket.com/albums/ff81/fairhenbane/route666.jpg

 

http://www.ahajokes.com/cartoon/6thsense.jpg

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1007 helpful answers

Lets play ball JoeAnimated MonkeysThrow the ball back Biden

 

 

 

1 Trillion dallors

1 dollars bills    1.1 million tons

                       22 billion pounds

100 dollar bills  11 thousands tons 

                      2.2 million pounds

If you stacked a trillion $1 bills (US) on top of each other, you'd form a stack that reached a quarter of the way to the moon--the stack would be nearly 70,000 miles high or three times  around the equator

 A dollar bill's dimensions are about 2.6" x 6.1" x .0043"

$253 million to cover a one-mile by one-mile square.

So $1 trillion in one-dollar bills would cover an area of about 3,857 square miles  

$1trillion in one-dollar bills (if packed perfectly) would fill a volume of about            40 million cubic feet

Minneapolis sports stadium Metrodome Interior volume is 60 million cubic feet

will fill the Metrodome 2/3 full

                                                                                   

                                                                               


 
3 helpful answers

obama is just a big bully. bullies the republicans into signing a 1,000+ page doc without being able to read it. all a big hurry to just put it on his desk while he parties in chicago. probably spend more time going over options on a car they are purchasing

 
3 helpful answers

what happened to Obama's - "I'll let the American people read it 48 hours before I sign anything"... more lies from him-

 
1007 helpful answers

Lets play ball JoeAnimated MonkeysThrow the ball back Biden

 

 



The Bailout Alternative: Virtual Mark to Market
Imagine if you had a $200,000 mortgage on a $300,000 house that you planned on living in for 20 years. But a neighbor, because of very special circumstances had to sell his house for $150,000. Then, imagine if your banker said you had to mark to this “new market” and give the bank $80,000 in cash immediately (so that you would have 20% down), or lose your home. Would this reflect reality? Not at all. Would this create chaos? Absolutely.


According to some pundits, the simplest solution to our economic crisis is to suspend or abolish the mark to market accounting rules.
For those unfamiliar. Mark to market is where a company reprices their assets on a daily basis to the most recent market transaction price. If asset prices are falling, this means that the total value of assets on a banks or other company’s books falls. When the total value of assets fall, then those who have lent them money get worried. They are worried because the assets they lent them money against now are worth less. If the borrower cant pay them back, that leaves the lender SOL. SO, the lender demands that the borrower raise cash immediately or add assets to make their asset total higher. If the borrower does not, the lender will either take back enough assets to cover their loan, or find some other way to get their money back.
In a normal market, that wouldn’t necessarily be bad because the borrower could refinance the asset and pay off the original lender. In this market, with credit tight or not available at all, that is not possible. So the borrower ends up selling assets at far below market value to raise cash quickly.
This type of desperation sale is happening everywhere, the latest example is Goldman Sachs sale to Warren Buffet. If enough assets are being sold at firesale prices, the market for those assets collapses, as we have seen with housing prices. This creates a vicious circle. Asset prices are sold at firesale prices. That forces more mark to market writedowns, which in turn forces more firesales. etc, etc.
To some the resolution is to end or suspend mark to market accounting rules. Their logic is obvious. If there is no need to mark to market, then assets are not written down. Banks and other companies are not forced to have firesales to generate capital and prices of assets are not pushed down by the firesales. All good, right ?
Not so fast.
The other side of the coin is that because assets are not being marked to market, shareholders and potential investors have no real idea what the assets on the bank/companies balance sheet are really worth.  When prices are going up, shareholders and investors don’t care. Prices are going up.
When prices are going down, as in this market, cash is dear, and investors and shareholders do not want to take any chances that the asset values on the balance sheets have fallen dramatically. No mark to market, no trust in the balance sheet, which means shareholders run to the exits and there is no one there to buy their shares. Which means banks have to go out and find someone way to raise capital from people who dont know the real value of their assets.
Both routes get us to where we are today: A 700B bailout from you and I the friendly taxpayer
Which leads to my proposal which solves both sides of the coin.
First, let me say that its about time we take advantage of the fact that we live in a broadband enabled society. Our society is now educated to go online for information. We are digital information consumers. Its time we recognize that fact and integrate it into our decision making process.
My proposal is that we suspend mark to market rules, but require complete asset transparency for any company that chooses not to mark to market.  If a company avoids mark to market accounting,  Every asset that  company owns should be required to be listed on their website and updated in REAL TIME on their website. A full asset description, original cost or loan value, value on the books, and latest transaction for this class of asset, or an actual transaction price for the asset.
This means that investors will have the same information available as if the company had marked to market, but their actual balance sheet would not change. The best of both worlds.
I would recommend that every company be required to post this accounting information in a standardized format on a web page, AND to also post a complete comma delineated file that includes all that assets and required info.
Standardization is important as is this asset list. Why ? Because in this digital age, it wont be long till a very smart capatilist, takes all the data and creates a business out of consolidating and publishing the data and possibly even creating an exchange for the data.
If this is done, it allows for several alternatives to the current bailout plan to happen. It allows for what some call the “SwedishPlan” (from the 1992 Swedish bank bailout), but should probably now be called the Warren Buffet Plan or the 3P Plan. It  is the direct purchase of equity from the banks/organizations that need it, in the form of preferred stock and warrants in a 10 plus 10 format. (10pct P erferred, in P erpetuity, callable at 10pct P remium, ie the 3P Plan)
A combination of a 3P plan and the Virtual Mark to Market gives the government a chance to  make money back for taxpayers. It solves the banks problem of liquidity, and it stops the firesale of assets, while most importantly, increasing market transparency and in turn confidence in the market
It allows for the straight purchase of assets, by the Treasury or anyone else. I would of course recommend that any assets sold by institutions to the government then be updated with the price paid , date and who the buyer is. Transparency is king
tell me what you think about this idea.
http://www.moneymorning.com/images2/mark_to_market.gif

http://www.offthemark.com/Images/stock/stock02.gif
cartoon lisa benson bigger.gif

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