Blogs » Politcs Plus » Where is the money coming from?


The conservatives keep asking the Obama transition team “where is the money coming from.”The answer should be, the same place we got it for the Iraq invasion ($10 billion month) or the overnight $700 billion bailout for the financial institutions.

The Obama team is indicating that it will be aggressive in coming out with a economic recovery program. Another stimulus package will be a priority, but this might not include rebate checks. First we cannot let the automakers fail (again) millions of jobs, dealers, and suppliers lost will only put a new stranglehold on this ailing economy. We need to repair the infrastructure from California to New York. Nothing rebuilds economic confidence more than construction sites. Let’s get American working again. Over 500,000 lost jobs in two months is unacceptable.

Yesterday, we found out that Treasury made a change in the tax code that will benefit the banks by $100 billion. There’s $100 billion of the $150 billion needed for the stimulus package. Bank of America and one other bank were forced to take the bailout money because the Treasury Secretary was afraid lenders would all flee to the solvent Bank of America. The secretary told Bank of America to lend to new home owners. That’s how we got in this mess in the first place.

Now is the time to throw health care and alternative energy into the boiling pot. The Big Three automakers list union demands and health care as their biggest concerns. GM’s CEO not believing in climate change is a big concern. His mindset delays building the cars for the 21st century. Want another bailout? Fire your CEO.

Obama’s health plan does not call for Universal Health Care but this would be a great time to fund electronic record keeping of the health records, negotiating a new drug deal with Canada and Mexico for our seniors, and enlisting all children into a health plan. Preventative care instead of curing diseases as they accrue and misuse of the ERs will bring costs down.

It wouldn’t be popular, but I think raising the price of gasoline to $4 a gallon and leaving it there would keep us conserving and make it easier for the innovators to feel confident that their ideas would be funded. Put a cap on the barrel of oil anything less than $100 a barrel should be taxed and used for funding alternative fuels. We made the mistake of remaining on fossil fuels in 1970 when OPEC assured us of it’s abundance of cheap oil. We forgot to read the fine print.

Like the Republican Party, the Teachers Union needs to overhaul their platform. The Republican Party needs to get back to old principles and be more inclusive. The Teacher’s Union must get back to putting the emphasis on the students rather than their demands.

Am I asking for another FDR New Deal? Not really, we already passed a $700 billion bailout, why not cut out a slice out of that to pay for a ground up strategy. It’s all about jobs.

I have noticed a lot of demands, wants, and criticism of our new president-elect. Most of the  posters were silent during the Bush Administration.