US News
Obama defends spending as key to future economic growth (Roundup)
Mar 25, 2009, 2:36 GMT
Washington - US President Barack Obama defended the spending outlined in his budget Tuesday, saying investments in health care, energy and education are essential to long-term economic growth and eventually bringing deficits under control.
Obama defended the 3.6-trillion-dollar budget proposal that have been the subject of intense criticism from Republican and some Democratic members of Congress who warn it will pass along huge deficits to future generations.
The Congressional Budget Office has predicted that the spending would increase the national deficit to 9.3 trillion dollars over 10 years, more than 2.3 trillion dollars more than the White House's own estimates. Obama has insisted that his administration inherited a deficit from his predecessor George W Bush and that the spending will spur economic recovery that will help trim deficits in the future.
'What we've said is, let's make the investments that ensure that we meet our growth targets that put us on a pathway to growth as opposed to a situation in which we're not making those investments and we still have trillion-dollar deficits,' Obama said in the second primetime news conference of his presidency.
Obama also said his 787-billion dollars economic stimulus and efforts to unlock the credit crunch behind the financial crisis that dragged the economy into a recession are beginning to work.
Obama cited mortgage rates falling to record lows, increased home sales and price stability on the housing market as evidence of the economic progress made under his administration during its two months in office.
'We're beginning to see signs of progress,' Obama said.
Meanwhile, Obama flatly rejected China's call for a global currency that would gradually replace the dollar as an international reserve. China is seeking a gradual shift away the dollar to a global currency under the International Monetary Fund.
'I don't believe that there's a need for a global currency,' Obama said at a White House press conference Tuesday night, adding that the dollar 'is extraordinarily strong right now.'
China's government has expressed concerns in the last month over its nearly 1-trillion-dollar holdings of US government debt amid the worst global recession since World War II. Russia has made similar suggestions for an international currency.
US Treasury Secretary Timothy Geithner and the chairman of the Federal Reserve, Ben Bernanke, also rejected the Chinese plan during congressional testimony earlier Tuesday.
Obama views investments in health care, education and energy as key to pulling the US economy out of the recession. He believes the investments could create up to 3 million jobs while tackling major challenges the United States is facing, like dependence on foreign oil.
Growing health care costs in the United States will be a major cause of government deficits if a new approach is not taken now, the president said.
'Let's do a whole host of things, some of which cost money on the front end, but offer the prospect of reducing costs on the back end,' he said.
On foreign policy, Obama played down the prospects for quick achievements.
He acknowledged that a new Israeli government headed by conservative Benjamin Netanyahu, who has been sceptical of a two state solution, means achieving peace will not be 'easier than it was.'
'It is critical for us to advance a two-state solution where Israelis and Palestinians can live side by side in their own states with peace and security,' Obama said.
Netanyahu, the leader of the Likud party, struck a coalition agreement with the centre-left Labour Party earlier Tuesday that will make him the country's next prime minister. Netanyahu has been critical of a two-state solution endorsed by Obama, former president George W Bush and most of the international community.
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page: 1
The Jews and their World Bank
OUR GREATEST FOUNDING FATHER and first president, George Washington, probably wouldn’t be ready to celebrate his birthday on Feb. 22 if he were alive today. Having led the 13 colonies to independence from the British Empire in 1783, following the course of a difficult eight-year struggle by those freedom-loving American colonists who followed him, Washington (who lived from 1732 to 1799) would most assuredly be appalled to see that the liberties achieved from the American Revolution are now being flagrantly defied by a number of figures who populate the upper ranks of the administration of Barack Obama.
Six former Rhodes Scholars (educated at Oxford University in Britain) and four others associated with the London School of Economics are serving in key posts in the Obama administration. That’s not good.
Here are 10 of the key “British”—that is, Rothschild —operatives now ensconced in the Obama administration (more can be expected):
Susan Rice—ambassador to the UN; Michael McFaul—head of the Russian desk at the National Security Council; Elena Kagan—solicitor general of the United States; Anne-Marie Slaughter—State Department policy planning staff; Neal S.Wolin—deputy counsel to the president for economic policy; Ezekial Emanuel—senior counselor at the White House Office of Management and Budget on health care policy; Lawrence Summers—head of the National Economic Council; Peter Orszag—director of the Office of Management and Budget; Peter Rouse—senior advisor to the president; Mona Sutphen—deputy chief of the White House staff.
The truth about the Rhodes Scholarships is not known to the average American who is constantly told by the mass media that Rhodes Scholars (such as former President Bill Clinton) are among “the best and the brightest.”
The Rhodes Scholarships—awarded to Americans and students from other former British colonies—are funded by a trust set up by 19th Century British imperial figure Cecil Rhodes, whose intent was to indoctrinate these scholars with the theme that the American colonies should be reunited with the British Empire and that they should work through “public service” to achieve that goal.
But Rhodes wasn’t just some rich madcap dreamer. His ventures were underwritten by the international Rothschild dynasty operating from the financial district in London known as “The City”—the banking center of the Rothschild controlled British empire that also includes the London School of Economics.
So now a clique of internationalists trained in the idea of extinguishing American independence are ensconced in the Obama administration.
And another Rhodes Scholar, Louisiana Gov. Bobby Jindal, is widely touted as the great Grand Old Party candidate to “take back the White House” in 2012. Jindal doesn’t offer “change.” He—like the other globalists in the Obama administration—is part of the problem.
All of this is not a “conspiracy theory.” Rather, these facts are well known to those familiar with what the Rhodes scholarships are really about.
And so it is...........................
Obama is the first President honest enough to state that health care and education actually require investment - and that entitlements, including Social Security, will need to be dealt with as well.
Bush never included the Iraq costs directly in the budget - but rather used annual supplementals; counting on the blind patriotism of the country to pay for the war, since those supplementals were billed as 'for the troops' - instead of the waste, fraud, abuse and contractor payments they ended up going for.
Add in the future costs of Bush's NOT dealing with Afgahnistan - and Obama's $3.8 trillion (or whatever) has been EXCEEDED by Bush's expenditures that got us nothing but a giant increase in National Debt ... AND the $1.3 trillion deficit that Obama inherited (TARP plus last year's prohected deficit).
Someone stating that Obama brought this about in a mere 60 days is an imbecile; or listens to overfed and overpaid egomaniacs on the radio.
The government will not be dismantled, so discussing that is sheer crappola. We're seeing the Treasury take on added responsibilities because of what the Bush years left as its residue. Bush had from Sept. to Dec. 2008 to shoulder the burden, and did nothing but the TARP - and Paulsen's miserable handling of that left the public wondering if ANYONE knew what they were doing.
From Jan 20, I figured that people were expecting too much, too soon - and that the GOP was in a continual campaign for re-election, rather than showing some loyalty to the people's choice for President.
Bobby Jindal is the latest intelligent person to turn imbecile; starting with his asinine 'volcano research' remark in his Obama rebuttal speech - note the volcanic eruptions in Alaska, dumping ash all over the place. If that had been funding for the levees in Louisiana, Jindal would have been happy with it. Now, he's backing those who seek failure for the American leadership. In Russia, these jerks would be on a rail car to the Gulag by now for disloyalty.
www.usnews.com/articles/news/obama/2009/03/25/bobby-jindal-its-all-righ t-to-want-obama-to-fail-republican-louisiana-gov-tells-gop-fund-raiser.html
Bobby Jindal: It's All Right to Want Obama to Fail, Republican Louisiana Gov. Tells GOP Fund-raiser
--------
Between Jindal, Palin, and McCain, there's not one damned working brain. Sen. Spector continues to be a bright spot, but his seat is at risk from some GOP'ers to the far right.
'Mr. Specter, whose re-election campaign next year for his Pennsylvania seat may include a tough primary rematch with Patrick J. Toomey, a conservative former congressman, said Tuesday that his (union free choice) decision was based not on politics but on the poor economic conditions for businesses and the availability of other avenues to expand collective bargaining. The National Republican Senatorial Committee, the party’s election arm, indicated a few weeks ago that it would be hard-pressed to help candidates whose views on this issue were out of sync with the national party.
(Day by day, the GOP reminds me more and more of how Putin operates in Russia. They don't give a damn about the country - only their dogmatic positions, and their wallets).
(Another know-nothing with Presidential ambitions, to accompany McCain and Palin on their next 'Campaign to Nowhere')
www.seattlepi.com/connelly/404216_joel25ww.html?source=mypi
Thanks to 'something called volcano monitoring,' to use the denigrating language of Louisiana Gov. Bobby Jindal, passenger jets did not fly into ash clouds when Alaska's Mount Redoubt erupted earlier this week.
Volcanic ash creates conditions akin to flying into a sand blaster. A KLM flight lost power in all four engines after it flew into the cloud created by a 1989 eruption of Redoubt.
The plane dropped by more than two vertical miles before its crew could restart the engines and land in Anchorage. No wonder Alaska Airlines canceled 19 in-state flights on Monday week after Redoubt sent an ash plume 60,000 feet into the sky.
The eruptions of Redoubt carry a lesson that Jindal did not learn back when he was a Rhodes Scholar: Don't sneer at science.
The lesson applies equally to Alaska Gov. Sarah Palin, a potential Jindal rival for the 2012 Republican presidential nomination. 'Sarah Barracuda' spent last fall lampooning federal money spent on fruit fly research, ignoring that it is essential to the study of human genetics.
Jindal's remarks give pause, not only about this would-be president but the Republican Party to which he tossed red meat in response to President Obama's address to Congress. 'Instead of monitoring volcanoes, what Congress should be monitoring is the eruption of spending in Washington, D.C.,' said the governor.
Barack Obama as next President of The United States of America
The die is cast and for reasons that only a privileged few know, you Sir, will be the next President of the United States of America. Your next 4 years will be a turning point in US history and planet earth. CHANGE, your advisors and high stake investors offer the nation will undoubtedly be the same rhetoric and empty promises that make up a political campaign, that campaigns for appointment for any public office in America.
The White House will be the Black House to some, the Aryan Brothers of America will not be so happy, but yet will blame you and your staff if you fail, which will reinforce their belief that the Aryan Nation is the true leader for America. The religious zealots will be busy bees making nests to survive the onslaught of lies, corruption and deceit. Business enterprises and other competing nations will capitalize off of your inexperience in the art of corruption and murder. The organized crime organizations from different nations including our own will benefit from the lack of control over national crime.
Military governments including our own will test your tolerance to pain and deception and trick you into needless and profitable domestic and international conflict. You will no doubt attempt to colorize your staff to soften the race conflict once in office.
As President you will be President. Nations will respect you only for your title of office. Americans will soon see after your appointment as President that your intentions were manipulated by those that make the rules. You will fill the spot in history as planned, and nothing more.
You will never while in office be able to pull the troops from conflict in any land we are engaged in. As a matter of fact we as a nation will be engaged in a new conflict of war, which will galvanize Americans to seek a different form of government and a different and honest Congress.
You will attempt to shore up Americas problems with false promise and lies, because you cannot directly affect the CHANGE you promised.
Your frustration will be your downfall while in office, and your co-dependence on those that you trust will also add to your demise.
Our Armed Forces in rank will respect you as good soldiers they are, but those under them will not, and for good reasons, that only a good soldier knows.
America will not be America until its government respects the People, and tells the truth. America is a Republic, not a Democracy or Fascist Government or is it?
Until you can walk thru the streets and neighborhoods of America unaided by Secret Service or any other law enforcement agency you will not be respected by the many, only by the fearful and selfish few. Americans can protect their leaders if they are honest and respectful of the people they were elected to serve. Our Government has forsaken us for many hundreds of years, and now we will wait until your 4 years are finished for us to come to fruition.
CHANGE FOR AMERICA FOR AMERICANS!
The American Republic
A Sovereign Republic
If it were not for cut-and-paste, these retards would be mute ....
In the spirit of a different (8-letter) word that also starts with 'B'; from the GOP 'Have you no shame' department:
www.cnn.com/2009/POLITICS/03/26/budget/
'Two nights ago the president said, 'We haven't seen a budget yet out of Republicans.' Well, it's just not true because -- Here it is, Mr. President,' said House Minority leader Rep. John Boehner, as he held up a booklet that he said was a 'blueprint for where we're going.' The details of the GOP budget will be presented on the House floor next week, said Rep. Paul Ryan, R-Wisconsin.
==========
This is precisely what Geithner was condemned for when he made his initial presentation. Of course Geithner is dealing with the VERY REAL problems that Bush (and Boehner) dumped on the American people; while Boehner is only interested in the public's not realizing what a bunch of empty suits the GOP have become.
This particular idiot is even a bigger problem:
greeninc.blogs.nytimes.com/2009/03/20/michael-steele-we-are-not-warming /
'We are cooling. We are not warming. The warming you see out there, the supposed warming, and I am using my finger quotation marks here, is part of the cooling process. Greenland, which is now covered in ice, it was once called Greenland for a reason, right? Iceland, which is now green. Oh I love this. Like we know what this planet is all about. How long have we been here? How long? No very long.'
(Leave it to the GOP to come up with someone to make Palin look intelligent in comparison. Now, this fraud pretends he's Maxwell Smart)
thinkprogress.org/2009/03/26/steele-limbaugh-planned/
STEELE: So if I do something, there’s a reason for it. Even, it may look like a mistake, a gaffe. There is a rationale, there’s a logic behind it.
Q: There’s a rationale behind Rush, all that stuff?
STEELE: Yup, yup. … I want to see what the landscape looks like. I want to see who yells the loudest. I wanted to know who says they’re with me but really isn’t. … It helps me understand my position on the chess board. It helps me understand, you know, where the enemy camp is and where those who are inside the tent are.
(also)
Steele tells Lemon he has considered running for the White House. Whether he will or not will be determined by a power higher than Limbaugh: God.
'…If that’s part of the plan, it’ll be the plan,' explained Steele. 'We may have this conversation in eight, ten, 12 years and you’ll sit back and you’ll play the tape back and say, ‘Oh, look at what you said!’ But it’ll be because that’s where God wants me to be at that time.' God, for the record, is not affiliated with any political party.
(Watch the GOP send this jerk to some undisclosed location. By the way, God is no doubt offended by these references .....)
www.salon.com/opinion/conason/2009/03/27/deficits/
Of the roughly $11 trillion in federal debt accumulated to date, more than 90 percent can be attributed to the tenure of three presidents: Ronald Reagan, who used to complain constantly about runaway spending; George Herbert Walker Bush, reputed to be one of those old-fashioned green-eyeshade Republicans; and his spendthrift son George 'Dubya' Bush, whose trillion-dollar war and irresponsible tax cuts accounted for nearly half the entire burden. Only Bill Clinton temporarily reversed the trend with surpluses and started to pay down the debt (by raising rates on the wealthiest taxpayers).
Republicans in Congress likewise demanded balanced budgets in their propaganda (as featured in the 1993 Contract with America), but then proceeded to despoil the Treasury with useless spending and tax cuts for those who needed them least. Even John McCain, once a principled critic of those tax cuts, turned hypocrite when he endorsed them while continuing to denounce the deficits they had caused.
As for the Republicans, it is difficult to listen to their doomsaying predictions without laughing. They want us to worry about the evils of deficit spending when they obviously don't worry about that at all. Just yesterday, the House Republican leadership distributed what they called an alternative budget. Missing from that thin sheaf of papers was any attempt to estimate what their plan would cost and how much it would increase the deficit. Their ironic ignorance of history was illustrated by their single concrete proposal. They insist that we must cut the maximum tax rate from 36 percent to 25 percent – or the same as the top rate in 1929, on the eve of the Great Depression.
Odd isn't it? Over here, it's usually when we're stuck with 'Labour' governments that we get in hock up to our eyeballs.
You seem to have conveniently forgotten the mess that the Tories left when Blair took over. It's a worldwide crisis, and Britain is actually in better shape than other major Euro countries (not to mention Iceland). Cameron suffers from Boehner's problem - he whines during his 6 questions in PMQ, and has zero ideas aside from cutting spending that benefits health care and education.
At least Brown wants to step up the stimulus, unlike Germany - the public is buffered by national health care and much greater unemployment benefits than in the U.S., and does not feel the same degree of pain. So long as leaders appease, instead of leading, we'll continue to have problems. Obama is taking the heat for DEALING with problems originated by his predecessors.
You Brits seem to suffer from the same amnesia as some of our right-wingers.
Where the U.S. National Debt originated
www.salon.com/opinion/conason/2009/03/27/deficits/
Of the roughly $11 trillion in federal debt accumulated to date, more than 90 percent can be attributed to the tenure of three presidents: Ronald Reagan, who used to complain constantly about runaway spending; George Herbert Walker Bush, reputed to be one of those old-fashioned green-eyeshade Republicans; and his spendthrift son George 'Dubya' Bush, whose trillion-dollar war and irresponsible tax cuts accounted for nearly half the entire burden. Only Bill Clinton temporarily reversed the trend with surpluses and started to pay down the debt (by raising rates on the wealthiest taxpayers).
Republicans in Congress likewise demanded balanced budgets in their propaganda (as featured in the 1993 Contract with America), but then proceeded to despoil the Treasury with useless spending and tax cuts for those who needed them least. Even John McCain, once a principled critic of those tax cuts, turned hypocrite when he endorsed them while continuing to denounce the deficits they had caused.
As for the Republicans, it is difficult to listen to their doomsaying predictions without laughing. They want us to worry about the evils of deficit spending when they obviously don't worry about that at all. Just yesterday, the House Republican leadership distributed what they called an alternative budget. Missing from that thin sheaf of papers was any attempt to estimate what their plan would cost and how much it would increase the deficit. Their ironic ignorance of history was illustrated by their single concrete proposal. They insist that we must cut the maximum tax rate from 36 percent to 25 percent – or the same as the top rate in 1929, on the eve of the Great Depression.
...that the party that lambasted Bush for deficit spending now embraces Bush's methods as critical to their own success? The stimulus, which Bush was lambasted for, is now the cornerstone of the Obama admin. We are supposed to now accept that Bush concepts are good for America, as long as the Messiah is pimping them.
Bush, however, was able to generate record employment, record tax receipts, record, job creation, record household income, standards this administration will not set in the forseeable future.
but SP seems to be. The U.S. has the biggest deficit in history after Bush got through lumbering through his 8 years. Time to look forward at any rate and hope to he** this administration will be able to at least
put a dent in the debacle they inherited. If Obama fails, we all fail.
www.salon.com/opinion/conason/2009/03/27/deficits/
Of the roughly $11 trillion in federal debt accumulated to date, more than 90 percent can be attributed to the tenure of three presidents: Ronald Reagan, who used to complain constantly about runaway spending; George Herbert Walker Bush, reputed to be one of those old-fashioned green-eyeshade Republicans; and his spendthrift son George 'Dubya' Bush, whose trillion-dollar war and irresponsible tax cuts accounted for nearly half the entire burden. Only Bill Clinton temporarily reversed the trend with surpluses and started to pay down the debt (by raising rates on the wealthiest taxpayers).
Republicans in Congress likewise demanded balanced budgets in their propaganda (as featured in the 1993 Contract with America), but then proceeded to despoil the Treasury with useless spending and tax cuts for those who needed them least. Even John McCain, once a principled critic of those tax cuts, turned hypocrite when he endorsed them while continuing to denounce the deficits they had caused.
As for the Republicans, it is difficult to listen to their doomsaying predictions without laughing. They want us to worry about the evils of deficit spending when they obviously don't worry about that at all. Just yesterday, the House Republican leadership distributed what they called an alternative budget. Missing from that thin sheaf of papers was any attempt to estimate what their plan would cost and how much it would increase the deficit. Their ironic ignorance of history was illustrated by their single concrete proposal. They insist that we must cut the maximum tax rate from 36 percent to 25 percent – or the same as the top rate in 1929, on the eve of the Great Depression.
SP4's idiotic:
Bush, however, was able to generate record employment, record tax receipts, record, job creation, record household income, standards this administration will not set in the forseeable future.
=======================
You seem to have omitted a final $1.3 trillion deficit, a war in Afghanistan out of control, and a recession. On a net basis, what were the gains in employment through end of 2008? What was the household income gain from wages?
Give numbers; or shut the hell up. 2009 job losses to date are a result of Bush's policies, as the economy continuted to contract. The last few days at least indicate a bottom in sight; unlike, say, your I.Q.
www.americanprogress.org/issues/2008/09/econ_snapshot.html
(Sep 2008)
1. Job losses mount. The United States lost a total of 605,000 jobs in the first eight months of 2008, including 84,000 in August 2008. For the past 12 months, the United States lost on average 23,600 jobs each month after gaining an average of 116,100 in the 12 months before that and 184,000 in the 12 months before then.
2. Unemployment rates reflect broad labor market recession. In August 2008, the unemployment rate was 6.1%—the highest level since September 2003. The African-American unemployment rate stood at 10.6%, the Hispanic unemployment rate at 8.0%, and the unemployment rate for whites at 5.4% in August 2008.
3. Wages are flat. Factoring in inflation, hourly wages were only 0.2% higher, and weekly wages were actually 0.8% lower in July 2008 than in March 2001. Hourly and weekly wages in July 2008 were at their lowest levels since October 2005.
4. Fewer people have pensions and health insurance. The share of private-sector workers with a pension dropped from 50.3% in 2000 to 43.2% in 2006, and the share of people with employer-provided health insurance dropped from 64.2% in 2000 to 59.3% in 2007.
5. Family debt remains high. Household debt averaged 132.4% of disposable income in the first quarter of 2008, down from a record high of 133.5% in the previous quarter, but higher than at any point prior to the second quarter of 2007.
6. The housing crisis deepens. New home sales in July 2008 were 35.3% lower than a year earlier, and existing home sales were 13.2% lower. The median price for existing homes had fallen by 7.1% and prices for new homes by 6.3% from July 2007 to July 2008.
7. Homeowners lose wealth. The values of all homes fell by 2.5%, or $417 billion, in the first quarter of 2007 after accounting for inflation—the largest drop since the second quarter of 1974. Home equity as share of home values also fell to a record low of 46.2% in the first quarter of 2008.
8. People are paying more for basics. All prices rose by 24.5% from March 2001 to July 2008, food prices rose by 25.5%, fuels and utilities by 52.9%, medical care by 35.1%, transportation by 35.8%, and college tuition by 67.9%.
9. Mortgage troubles mount. One in 11 mortgages is delinquent or in foreclosure. In the second quarter of 2008, the share of mortgages that were delinquent was 6.4%, and the share of mortgages that were in foreclosure was 2.7%. The share of new mortgages going into foreclosure continues to reach new record highs with 1.1% in the second quarter.
10. Debt burden is taking its toll. Credit card defaults rose to 5.5% of all credit card debt by the second quarter of 2008, an increase of 14.7% from the first quarter of 2001. This occurred despite the new bankruptcy law passed in 2005 to make it harder for people to get a fresh start free of debt, especially credit card debt.
11. The budget deficit increases sharply. In the first 11 months of the fiscal year 2008, which runs through September 30, the deficit amounted to $486 billion, up from $212 billion a year earlier.
'Bush, however, was able to generate record employment, record tax receipts, record, job creation, record household income, standards this administration will not set in the forseeable future.
Read more: 'Obama defends spending as key to future economic growth'
God how stupid can one be! What Bush was able to generate was exactly what is going on right now you stupid fool! Record un-employment, tax receipt shortages, record job loss, the worst recession since the depression, no household income for 5.5 million people! Standards I hope are not equaled in the next century or this country will not be here.
Oh by the way is your IQ really over 60? Is your education level over 5th grade? When was the last time you tried to embrace realty? It appears the nut that keeps telling everyone that you are up to your neck in drugs, must be correct.
page: 1
sp'sassMar 25th, 2009 - 16:39:36
These bloody govmint beaurocrats can't see the forest because of the trees. The answer to all our problems is so simple even a moron can get it. All we need to do is downsize. We don't need to pay no stinking taxes, so we definitely don't need the IRS. We absolutely don't need the DOC, or DOE, or DOI, or DOL, for a matter of fact. We should streamline the govmint further, since we certainly don't need no stinking SEC, or FCC, or FTC. We have no use for govmint involvement with trains, planes, MTA, PTA, FDA, TVA, or even the bloody EPA . NOAA, NARA, and DARPA are useless dark holes we just throw money into, so let's get rid of them too. Why should the good citizens go bancrupt subsidizing the SEC, SSA, HUD, and especially the ED [that's erectile dsyfunction for all you femlibnazi limpdicks]. Furhtermore, we don't need no DHARMA, KARMA, and certainly not any OBARMA. I know all you good citizen conservative republicans out there will understand all this absolute truth, whereas all you commie oriented traitors nurtured on the tit of the biassed MSM will remain clueless as you all continue to destroy our once wonderful country.
And it don't make me wrong to say it.
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