We are going to continue our discussion of the Barack Obama flim-flam-“stimulus”-plan today.
We are tempted to address Hypocrite Obama signing onto pay equity for women now but not practicing pay equity in his own campaign and Senate office; Hypocrite Republicans complaining about what they defended during the George W. Bush years; Hypocrite Obama supporters complaining that Obama is doing stupid “unity” nonsense which they defended during the campaign and attacked “celestial choirs” Hillary Clinton for mocking; Hypocrite Democrats complaining about the looted economy during the Bush years but now looting the economy themselves; Hypocrite Obama officials threatening Republicans who “must” cooperate whether they want to or not; Hypocrite Obama hiring lobbyists; Hypocrite Obama supporters defending Hypocrite Obama hiring lobbyists; and last but not least, Hypocrite Illinois politicians removing Governor Blagojevich for the very corruption they themselves engage in.
We’ll resist the temptation to rail against the hypocrites and persist with our dissection of the Obama flim-flam-“stimulus”-plan.
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The $825 billion plan to pick up the U.S. economy and revise how issues are considered in the future should be split, a former budget director says. [snip]
In testimony before the House Budget Committee Tuesday, Alice Rivlin, budget director for former President Bill Clinton, suggested lawmakers implement the stimulus section now and take a slower approach to build the longer-term spending components.
“Such a long-term investment program should not be put together hastily and lumped in with the anti-recession package,” Rivlin testified.
A respected and competent Democrat, Alice Rivlin is sending out as polite a warning to thinking progressives and fellow Democrats as possible. It is not easy for Democrats to speak out about Barack Obama’s biggest scam. But Alice Rivlin has taken out the red flag and is waving it, politely, for all to see.
Smart Democrat Alice Rivlin has some understanding of the mess which is Obama’s Flim-Flam “Stimulus” Scam:
Republican criticism of the stimulus package that the House will vote on tonight has focused on its soaring price tag, but some Democrats on Capitol Hill and other administration supporters are voicing a separate critique: that the plan may fall short in its broader goal of transforming the American economy over the long term.
President Obama, who promoted the $825 billion package at the Capitol yesterday, says the proposal serves two functions — creating jobs and stimulating the economy in the short term, and laying the groundwork for overhauls in energy, health care and infrastructure that would be felt for decades. But some administration supporters say that while they appreciate Obama’s intent, the two goals are competing with each other, and that the package could end up missing both targets.
Wake up real Democrats and Real Progressives! It’s not Rush Limbaugh vs. Obama – it’s Real Democrats who want to protect Social Security and secure the economy vs. Barack Obama and his flim-flam “stimulus” scam.
In testimony before the House Budget Committee yesterday, Alice M. Rivlin, who was President Bill Clinton’s budget director, suggested splitting the plan, implementing its immediate stimulus components now and taking more time to plan the longer-term transformative spending to make sure it is done right.
“Such a long-term investment program should not be put together hastily and lumped in with the anti-recession package. The elements of the investment program must be carefully planned and will not create many jobs right away,” said Rivlin, a fellow at the Brookings Institution. The risk, she said, is that “money will be wasted because the investment elements were not carefully crafted.”
For some House Democrats, the problem is less a matter of balancing the short and long term than a shortage of focus and will on the part of the administration. Their disappointment centers on the relatively small amount devoted to long-lasting infrastructure investments in favor of spending on a long list of government programs. While each serves a purpose, the critics say, they add up to less than the sum of their parts, and fall far short of the transformative New Deal-like vision many of them had entertained.
It will take a lot of courage for the emerging NObama coalition to speak up and vote against the Hopium addled and other Social Security looters. Barack Obama and his crimelords are attacking the elderly and the young. The elderly Obama will target with inflation and an attack on Social Security, the young Obama will attack with a debt they will inherit.
“Every penny of the $825 billion is borrowed against the future of our kids and grandkids, and so the question is: What benefit are we providing them? What are we doing for the country? It’s the difference between real investment that will serve the nation for 30, 50 years and tax cuts, and that’s a very poor tradeoff,” said Rep. Peter A. DeFazio (D-Ore.). “I go to my district and people say, ‘Yeah, I can use 10 extra bucks a week, but I would rather see more substantial investment.’ We’ve gone through a couple bubbles that were borrowing and consumer-driven. We want a recovery that’s solid and based in investment and productivity, and that points us at building things that will serve us decades to come.”
This is not a “stimulus” bill. It is a political money waste designed to influence the 2010 elections.
Republican John L. Mica of Florida laughs at Obama’s flim-flammery: “They keep comparing this to Eisenhower, but he proposed a $500 billion highway system, and they’re going to put $30 billion” in roads and bridges, he said. “How farcical can you be? Give me a break.”
This is not a “stimulus” bill. It is a political money waste designed to influence the 2010 elections. Long-term, well thought out programs will take time to plan for, design, and implement. Well thought out plans will take too long to have a dramatic impact on the economy by 2010. So Obama wants to drench the economy with dollars immediately, knowing full well the money is going down a rat hole and will later bring an ugly inflation – but for Obama politics comes first.
Real Democrats and Real Progressives must know that after wasting trillions, resistance will grow to doing what actually needs to be done. “After this initial rush . . . a lot of people are going to begin to wonder about whether we’re pushing the limits of our borrowing capacity here, and I’m afraid that when it comes time to do more robust investment . . . it will be ‘pay as you go,’ ” DeFazio said.
Energy experts are also weighing in on the trumpted energy programs. But they, too, worry that spending rapidly in search of a stimulative effect — and without sufficiently educating consumers — could keep the technology from meeting its full potential.
Republican Representative Ron Paul is usually someone we don’t pay attention to or heed. But Ron Paul has been around and he sees the old Chicago Razzle Dazzle and the old Bush Bushwa:
This week the House passed an $819 billion economic stimulus package. In reality, this bill is just an escalation of a government-created economic mess. As before, a sense of urgency and impending doom is being used to extract mountains of money from Congress with minimal debate. So much for change. This is déjà vu. We are again being promised that its passage will help employment, help homeowners, help the environment, etc. These promises are worthless. This time around especially, Congress should know better than to pass anything of this magnitude without first reading the fine print. There are many red flags that I have found in this bill.
Ron Paul has a list of questionable appropriations (“expanding the police state and the war on drugs“) that bear examination. The request for examination of appropriations is reasonable and usually considered a congressional responsiblity.
The Rivlin and Paul warnings are not unreasonable. The Razzle Dazzle Rush Rush is a flim-flam man’s favorite tool to part a fool from his or her money.
Imagine that. The most expensive social experiment in American history — one that will cost taxpayers more than both the Iraq and Afghanistan wars combined — was allotted less then a single day of debate in Congress.
How many speed-reading whiz kid representatives do you think slogged past their own pork to read the entire 647, or so, pages of the “stimulus” menu? [snip]
According to a new Rasmussen poll, 42 percent of the nation’s likely voters support the president’s plan, while 39 oppose it and 19 are undecided. The public’s support for the plan is down 3 points in a week — and this, without even having any time to chew on the specifics. Obviously, there is no time to waste.
George W. Bush engaged in the similar scare game when pushing through his $700 billion Troubled Asset Relief Program. But whereas Bush looked like a third-grader asking mom for an advance on his allowance, Obama has awe-inspiring confidence to pretend he actually can fix a recession.
Something is being fixed, but it’s not the economy.
The nation’s budget deficit will soar to an unprecedented $1.2 trillion this year, congressional budget analysts said yesterday, a startling tide of red ink that could dampen enthusiasm on Capitol Hill for some of President-elect Barack Obama’s most ambitious priorities.
In the first official estimate of the damage done to the nation’s finances by a weakening economy and various financial-sector bailouts, the Congressional Budget Office (CBO) reported that the gap between government spending and available revenue will exceed 8 percent of the overall economy by the end of September, a chasm not seen since the end of World War II.
The news drew a grim reaction from Congress, where the chairman of the Senate Budget Committee, Sen. Kent Conrad (D-N.D.), called the figure “jaw-dropping.” While lawmakers said they expect to dig this year’s hole even deeper by approving a massive stimulus package aimed at pulling the nation out of recession, Conrad and his House counterpart, Rep. John M. Spratt Jr. (D-S.C.), said they have warned Obama to limit the package to temporary measures that will not add to the deficit in future years.
Again, the polite red warning flags are waved by those who fear Obama. The dangers in the Barack Obama flim-flam “stimulus” bill are real. Shouting down gasbags like Rush Limbaugh and Hypocrite Republicans who cheered George W. Bush’s irresponsibilities is a distraction meant to rally thinking Democrats and thinking progressives from actually thinking about the dangers of this mess of a flim-flam “stimulus” bill.
The two Democratic budget leaders also cautioned Obama to find ways to pay for any other initiatives he pursues after taking office later this month, including expensive promises to expand access to health care for the uninsured, develop new sources of alternative energy and offer a bevy of new tax cuts to middle-class families.
“We should be very skeptical about any policy changes that add to the deficit and the debt that are permanent in nature,” Conrad said told reporters. “It is a mistake to do things that add to the deficit and debt beyond the period for economic recovery.”
Real Democrats and Real Progressives should keep first principles in mind:
Obama simply cannot be trusted. Obama cannot be trusted on any issue. Obama cannot be trusted by his friends. Obama cannot be trusted by his enemies. Obama cannot be trusted.
Obama cannot be trusted and his target, like George W. Bush’s is Social Security:
Obama once again declined to say how he plans to eliminate the growing budget gap, which is projected to narrow somewhat as the economy improves but explode again as the retiring baby boom generation sends the cost of the entitlement programs — Social Security, Medicaid and Medicare — skyrocketing. Obama said he will offer “very specific outlines” for addressing short- and long-term deficits when he submits his first budget proposal to Congress next month.
“We are beginning consultations with members of Congress around how we expect to approach the deficit,” Obama said. “We expect that discussion around entitlements will be a part, a central part, of those plans.”
So far, however, Conrad said Obama’s team has been cool to requests to establish a bipartisan task force that would reexamine the entitlement programs, as well as the nation’s tax system, and develop a long-term plan for bringing costs and revenue in line.
Real Progressives and Real Democrats must wake up and realize Obama cannot be trusted. Obama is planning a great betrayal – Social Security Treachery – that is why Obama wants to rush through this ill-conceived flim-flam “stimuls” plan before he reveals his treacheries. Universal Health-care is already betrayed (as Jim Clyburn revealed) Social Security is next.
The treachery will be masked as “necessary” by flim-flam man Obama in order to benefit his donors and Chicago crime lords:
Meanwhile, Spratt said Obama’s team is pressing for a new tax cut for working families in the stimulus package that would be made permanent in Obama’s first budget.
“I keep telling them to defer judgment: Don’t do anything permanent now,” Spratt said. Otherwise, “how do you get rid of a deficit of this magnitude?”
Spratt said he got “sticker shock” when he opened yesterday’s CBO report.
The picture it paints is bleak: The CBO predicts that the recession that began in December 2007 will extend well into this year, driving unemployment to more than 9 percent by early 2010. (The unemployment rate is currently 6.7 percent.) Plummeting home prices, which touched off the panic in financial markets last year, are likely to fall another 14 percent by 2010, and foreclosure rates are likely to remain high. As a result, federal tax collections are expected to drop by $166 billion this year.
Government spending, meanwhile, is expected to skyrocket to nearly 25 percent of the economy, the report says, “a level exceeded only during the later years of World War II.” One of the biggest expenses will be the estimated $240 billion to incorporate mortgage-finance giants Fannie Mae and Freddie Mac into the federal budget. The twin firms were taken over by the government in September.
There is only one place to get money: Social Security.
The scam called TARP (Troubled Assets Relief Program) which bailed out the gamblers is costing American taxpayers $700 billion. Those costs, combined with falling tax collections, are expected to drive the deficit to $1.2 trillion this year, or 8.3 percent of the overall economy — the largest budget gap as a percentage of gross domestic product since 1945. Next year’s deficit is projected to drop to 4.9 percent of the economy, or $703 billion.
But the worse is yet to come. Both figures substantially understate the problem, however. If Congress approves Obama’s request for nearly $800 billion in spending and tax cuts, this year’s deficit could easily soar to $1.6 trillion.
This year’s budget deficit can easily top $1.6 trillion. Obama sees trillion dollar deficits in the future too. The money will come from Social Security.
Even if the package of spending and tax cuts helps restore the nation’s immediate economic health, Obama said, the government is likely to be left with “trillion-dollar deficits for years to come” unless policymakers “make a change in the way that Washington does business.”
“We’re going to have to stop talking about budget reform. We’re going to have to totally embrace it. It’s an absolute necessity,” the president-elect told reporters a day before the Congressional Budget Office is set to release its outlook for the coming year.
Obama faces the twin challenges of managing the deficit, the annual gap between tax revenues and spending, and the swelling national debt, the amount of money that the government has borrowed to finance years of deficits. His task is made all the more difficult because new spending is widely viewed as the best way to pull the nation out of the recession. While Obama has declined to say how he intends to deal with such challenges, an economic adviser said yesterday that the president-elect plans to unveil “major initiatives” designed to eventually bring the deficit under control as part of his first budget proposal, which he will submit to Congress next month.
That is as clear as flim-flam man Obama ever speaks. Trillions in budget deficits will be spent this year, which adds to the national debt, and trillions more in budget deficits will be spent in years ahead. Obama also says he will submit a plan, after the flim-flam “stimulus” is passed – “major initiatives” designed to eventually bring the deficit under control. In other words, loot Social Security.
Republicans, ever eager to destroy Social Security will assist Obama. That is why Obama is courting Republicans.
Real Democrats and Real Progressives must wake up and oppose Barack Obama’s Flim-Flam “Stimulus” Scam.