President Barack ObamaPresident Barack Obama charted a dramatic new course for the nation Thursday with a bold but contentious budget proposing higher taxes for the wealthy and the first steps toward guaranteed health care for all — accompanied by an astonishing $1.75 trillion federal deficit that would be nearly four times the highest in history. Denouncing what he called the “dishonest accounting” of recent federal budgets, Obama unveiled his own $3.6 trillion blueprint for next year, a bol
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WSJ: A “Radical” Presidency When Barack Obama delivered his 44-minute acceptance speech in August among the majestic columns of Denver, it was apparent his would be an expansive presidency. Some wondered whether his solutions for a very long list of problems was too ambitious. On Tuesday, before Congress, he made clear across 52 minutes that the economic downturn would not deflect him from his Denver vision. Instead, the economic crisis, as it did for Franklin D. Roosevelt, will serve as a
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Late night stream of consciousness… If you bought more house than you can afford and cannot or will not pay your mortgage, responsible homeowners and renters should pay your mortgage for you. If you are a CEO who heads a business who receives a bailout, you are to be demonized and punished with a salary cap. If you are a homeowner who receives a mortgage bailout you are a victim who deserves our sympathy. It is appropriate, one week after you sign the largest deficit spending bill in his
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Use any stock market chart covering ten years. Observe that when the national public opinion polls in May 2007 showed that Obama would be the next President the market started down from 13,00 to almost half that level today. In contrast, during Bush’s Presidency the market went up almost thirty percent. So who is the better President? Bush up 30 percent over eight years Obama down 50 percent in nine months? Duh? Only Nadya Souleman messed up worse in nine months!
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from the WORLD SOCIALIST WEB SITE: Obama’s housing plan and the American ruling class 21 February 2009 US President Barack Obama’s Homeowner Affordability and Stability Plan (HASP), announced Wednesday, will do little to alleviate the enormous financial pressures on working class families caused by plummeting home prices. It does not reduce the outstanding debt, or principal, that homeowners owe the banks, which for millions of Americans now surpasses the value of their home
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