• Yea

    January 28, 2009 at 12:34 p.m.

  • VBB
    The house will vote on their version this afternoon with little GOP support and this is the concessions they made.
    In addition, Obama leaned on Democratic leaders to withdraw two elements of the stimulus bill that had been ridiculed by Republicans: an expansion of family planning funds for poor families and $200 million to resod the National Mall in Washington.
    Really there is no exact definition of middle –class but Obama said said his plan was to give 95% of Americans a tax cut (
    I think if we make Social Security solvent “FIRST” then an option to gradually letting people invest in the market like starting with 2% because those funds are not being contributed to the Social Security pot.
    AmeriCorps or Acorn is like the faith based organizations Bush pushed. They have the experience, people, expertise in certain areas like for buildings that need weatherizing..Remember the bill will have some long range planning.

    January 28, 2009 at 10:06 a.m.

  • The Knight
    As for the bailout, I believe I would have listened to the secretary of treasury and fed chairman if they predicted gloom and doom in the immediate future for our financial markets. No it has not helped the credit nor will it without banks lending and the rise of consumer spending.
    I don’t necessary disagree with the article but you make it sound like the GOP is the nice guy in all the negotiations .So far its politics as usual…The president did speak with with both chambers and he got a positive response.
    As far as campaign rhetoric, I take it with a grain of salt just like the state of the union..It just gives you a little insight into his thinking.

    January 28, 2009 at 9:45 a.m.

  • A pundit of the left, John Heilemann, this week wrote in NY Magazine:

    "The sheer scope of the ambitions that Obama seems to have for his presidency require broad majorities. He appears to take this business of unifying the country seriously, and to do that will require him not just to appear to reach out rightward but to actually … you know, do it."

    Heilemann opposes that course for Obama.

    The new administration has warned that it may run up deficits in excess of four trillion dollars over the next two and half years to deal with the recession. Supposedly, its first spending bill of 865 billion is solely for economic stimulus.

    Team Obama's lead-off talking point is the desperate need to rebuild our nation's crumbling infrastructure. Truly enough, spending for infrastructure would create lots of jobs immediately, and we would derive a long term benefit from the expenditure. BUT just 3.3% of this alleged stimulus bill is for road and bridge rebuilding. Shouldn't someone in Congress sound the alarm, or should this game of bait and switch be allowed to continue without criticism?

    Small business is the biggest job creator in the US economy by a mile, but the current bill will spend four times as much for new grass in Washington DC public areas than on stimulus incentives for small business.

    When the Wall Street meltdown struck last fall, Treasury Secretary Paulson asked for $75 billion to avert disaster in the credit market. Congress agreed immediate action was needed, but didn't want to give one man a blank check with no accountability and Congressional oversight. That was prudent. Then, to their great shame, the most powerful members of Congress exploited the crisis by loading the bill with $25 billion in pork barrel spending projects for their home districts while at the same time failing to add the oversight safeguards they promised.

    The so-called financial bailout bill was a disgrace. And it did not end the credit crunch. Many who opposed it nevertheless voted yes in fear they would be seen as obstructionist during a national emergency.

    That way of doing business in Congress should stop. Among Obama's many campaign promises was a commitment to put the brakes on Congressional excesses in pork spending. (Review his statements about earmarks in the televised debates with McCain).

    During the writing of this latest spending abomination, congressional Democrats refused to allow the opposition to offer amendments. Thus the GOP's only way to try eliminating the bill's most objectionable provisions is to call press conferences and cry foul. They have achieved minor victories with this strategy. In the face of growing controversy, last night Speaker Pelosi removed a provision that would have spent $200 million on contraception.

    Regardless of anyone's opinion on taxpayer funding for contraception and the abortion industry, it is obvious that such spending would do zero to stimulate the economy or provide the four million jobs Obama says must be created quickly. Sadly, the same will be true for a myriad of items in the trillion dollar turkeys yet to come, foisted on us in the name of economic recovery by the Pelosi-Reid Congress.

    Obama should keep his pledges to work with both parties and to rein in pork barrel spending.

    January 27, 2009 at 11:03 p.m.

  • Actually I was attempting to be complimentary, of course you & I do not agree politically, so therefore I don't agree with the tone of your blogs but I have enjoyed the ensuing discussion. 
    I actually heard on the news ACORN was getting 2-4 billion dollars & this was on HLN.  C'mon they are mini CNN, they wouldn't do anything to make Obama look bad. 
    As far as tax cuts go & who is deemed "worthy", what is your definition of middle class?  Whats the upper income limit?  I am middle class & yes my tax bracket needs some relief as it seems we are carrying a bulk of the load. 
    My dream is to be like you & my parents, have a decent nest egg to live comfortably til we cease to exist. It is definately difficult to save in our current economic climate. It would be nice if we could "opt out" of SS & Medicare & be able to put away &/or invest our money for ourselves, that will never happen since Peter would run out of funds to rob from Paul.
    I don't see how "investing" tax dollars into community projects like ACORN & Americorps is going to stimulate the economy or create jobs.  I also don't understand throwing so much money into after school snacks & planned parenthood.  This is some of the "special interest" stuff that needs to go away, as it serves no greater purpose or even a common good (common meaning everyone benefits).

    January 27, 2009 at 10:14 p.m.

  • VBB
    I read the portion of the bill that has caused the GOP some concern as worded “Congress provides $4.19 billion for "neighborhood stabilization activities." It does not specifically target $4.1 for ACORN..In fact the money was previously limited to state and local governments, but those Democrats now want part of it to be available to non-profit entities. That means groups like ACORN COULD be eligible for a portion of the funds.  
    I have not gotten into the details of the plan because it has not yet made committee when it makes it to the floor; I will watch it on CSPAN.
    This blog kept me from throwing a shoe at the TV set as I watched the Democrats cave in to more tax cuts…I was just vetting and my anger was aimed at the congressional Democrats.
    Tone of blogs? I have already said I am not running for president of the student council….:).
    I am just a small fish, with a Social Security check, pension, wife’s paltry wages and a small amount of interest and dividends….I am of no consequence, I want the middle-class to get a tax cut.
    I am not against big business or the wealthy but they got their piece of the pie from 2001-2008; so now it’s time for a tax cut targeted to the middle-class.IMO
    As for Social Security and Medicare; let a Republican run on the platform of getting rid of those entitlements..See how far they get….If Bush would have gotten his way on privatization..They would have been calling for his head.
    History will not be kind to Bush but enough people know he had no idea what was going on during the meltdown…He was a no show in the deliberations…IMO

    January 27, 2009 at 8:30 p.m.

  • legion357
    That's really  up to the laid off people;details are still in the works but white collars jobs will be offered for the energy jobs ....As i understand the bill whoever is working for the construction working on a HWY 59 project will remain the same but new jobs for weatherizing the Federal buildings will save the tax payers in a long run....As grants become available innovators will get the funds needed to create the new green jobs...This will take time...We did not get into this predicament overnight and Obama is not trying to give any illusion that it will be easy. or that mistakes will not be made...We have never been in a world financial crisis ;so the pattern or game plan is not out there.
    Again..Whats your plan?

    January 27, 2009 at 8:03 p.m.

  • Does anyone really think any of the 5,000 ppl laid of by Microsoft or any of the line assembly workers from , take your pick, GM, Chrysler, Cataplier are really going to take a job working for a road or bridge construction company?

     Ask your self this, who works for the largest , and even local paving and concrete companies?

     Sure you can say if there hungry they will take the job, but come on, they already have lots of workers to call on.

     All the big new infrastructor  contracts might look good on paper, but IMO they are not to create any "new" jobs for americans. Sure there employees might be working a ton of overtime and traveling across the country from job to job and spending more money, but IMO all that is doing is sort of make work jobs, not long term and not doing anything for long term economic growth.

     After all, take a drive to Riverside Park, all those nice cement picnic tables and bbq pits where built by the ccc back in the depresion, it helped them to eat but that was about it.

    January 27, 2009 at 6:42 p.m.

  • Mike, you cannot not know there is billions in this stimulus package targeted for ACORN.  You disappoint me.  : )    Why ACORN needs money is beyond me, unless it is payback for their get out the vote campaign.  (my words only). 
    Yes I know CATO is a conservative think tank.  But, the man (wish I could remember his name) was a past VP of the Dallas Fed & he wasn't on any of the "hate radio" shows, it was an economic program.  If Geitner did pay interest & penalties, why hasn't anybody corrected the previous statement that he didn't.  Last I heard he didn't pay penalties, interest I'm not so sure about.  Bottom line, still smacks of cronyism.  Obama should be more aware these days who he keeps company with to include appointees, he hasn't always exercised the best judgement.  : )
    Good for you that you have managed your tax bill so that it isn't a burden.  The $50,000.00 I'm gonna be writing come April doesn't please me one iota & the 10,000.00 quarterly after that just adds fuel to my flames.   The self employment taxes that we have to pay could easily replace SS & Medicare for us.  I would rather save that myself as I've done a heck of a job so far this year.  I don't agree with the concept of people getting back more than they pay in, while I am paying through the nose.   I guess I could spit out a few tax deductions to help ease my pain but that's a double edged sword.   I was just telling my friend that I wish I was in the previous tax bracket as it really wouldn't affect that much considering the difference in tax burden is enormous.  I don't begrudge anyone getting ahead, as long as it's not on my back.   I have my daughter & granddaughter living with me, who qualify for nothing, so essentially I am taking care of my own & everyone elses.  Maybe that's why I am so bitter about it right now.  At least I can write them both off my taxes this year.   I know you dislike "personal" stories but I believe it adds to my thought process, instead of you thinking/assuming I want to get rich while others stay poor.  I am a bit younger than you, I just want the same opprotunity to save for our retirement like you & my parents had.
    Whatever happens with this stimulus package, Bush will be blamed.  He is a bigger scapegoat than Clinton can ever be.  Bush will be blamed for everything that happens in the next few years, for many years to come.
    I haven't liked the tone of your blogs (go figure) but I have enjoyed the tone of your responses.  Thanks for that.  : )

    January 27, 2009 at 5:41 p.m.

  • Hello Wayward
    Frankly I am surprised the IRS did not give him a 90 day letter followed by a 30 day letter and a threat to garish...The fact that the company he worked were all having problems not paying the FICA & Medicare portions due to their accountants..I am surprised the IRS has remained quite..Why didn't Timothy take it to tax court ? Way back from 2001 so it must have been in litigation.
    Basic point too many questions but he is no better than anyone else and we are just a social security number to the IRS..For a .2001 matter this was settled too easily and too fast and it looks like a deal was in the works....Yes,he would have paid the IRS does not discriminate ,they may have been incompetent in this matter and settled for dimes on a dollar.
    Anyway thats how I see it but I may be wrong.

    January 27, 2009 at 5:29 p.m.

  • Mike...I'm glad that Gietner finally got around to paying what he owed -- AFTER HE GOT CAUGHT.  My question is, do you honestly think he'd have paid if the Infernal Revenooers hadn't been on his neck?  Be honest now.  Nobody's looking. 

    January 27, 2009 at 5:16 p.m.

  • This where I got my information and I heard it from a Obama spokesman...
    Obama’s choice to be Treasury secretary, failed to pay tens of thousands of dollars in federal taxes and also faces questions about the immigration status of a former household employee, according to the committee and the Obama transition.
    After the underpayments were detected, he paid back taxes and interest totalling $43,200.
    But he is the choice so lets move on.

    January 27, 2009 at 5:03 p.m.

  • Hello bugman
    Yes, I knew the conservative mindset but government started growing after Reagan and didn’t stop growing with Bush..So I take it with a grain of salt.
    That’s exactly what I am saying …”Pass it Democrats”; that’s why they voted you in…Harry Reid and Nancy Pelosi say they have the numbers…Doing nothing or just tax cuts for the rich is not going to cut it.
    Not as easy as that (to get a great treasury secretary)and yes; if it was you or I, we would get to pay back taxes and interest and penalties because the IRS just wants the money..It happens every day…Neither one of us are as sharp as Gietner ….He helped solve the Japan financial crisis and knows the ropes.

    January 27, 2009 at 4:48 p.m.

  • VBB
    Gietner did pay interest and penalties ,I know some right-wing blogs are saying he didn't but the OBama team confirmed that he did.
    VBB you know CATO is a right-wing organization that probably doesn't like any Democrats...:)
    I am doing just fine and if Obama just helps the working middle-class I will be thrilled ..Personally I don't need one.
    I really don't want the Dems to pass pork or special interest bills but I believe Obama has a overseer to do just that..I was just trying to say the naysayers will fault the Dems ..No matter what..It was not an indictment against the Republicans;just a call for the Democrats to realize they have political clout...Elections matter...
    I don't know anything about ACORN..Is that still campaign rhetoric?

    January 27, 2009 at 4:36 p.m.

  • Come on, don't tell me that you don't realize that conservative thinking revolved around smaller government just as liberal thinking considers bigger government a good thing.  Thus, the Republicans are simply going back to their roots.  And its about time.  All they have resisted is parts of this bill that spend money on things such as birth control, landscaping, and dollars that may go to organizations like ACORN. 
    Secondly, if you think that either party is not looking ahead to 2010 then you are blind.  Both major partys have been more interested in geting into, or staying in, the majority for years.
    Yes, there are problems with Geithner's failure to pay more than $30,000 in taxes.  It is more of a trust issue with me.  But think about this for a second.  If this was you of me, the IRS would be hunting us down, not letting us get by without penalty.
    Finally, if this bill is such a great thing then why don't the Democrats just pass it over the whining Repubs?  Then they could hang it over their head in 2010.  In reality, I think that the Dems. want the support of the Repubs. so they are not the only ones to hang when it does not work.

    January 27, 2009 at 4:01 p.m.

  • Timothy Gietners failure to pay his taxes is a big deal!  He was in charge of the NY Fed, how could he "forget" to pay his taxes?  I am a regular person who has never forgot to pay in what I am told I owe, though maybe this year I'll pull a Geitner & "forget".  I wonder if I'll be treated as kindly by the IRS as he was.  A simple apology & a check for the back taxes with no interest or penalties?  He is one who can afford the interest & penalties more than the average joe.  Again, it seems like it's all about cronyism & who you know.
    I was listening to a man from the CATO Institute talking about Geitner &  he was less than impressed with him. 
    Maybe we would be better off without Social Security & Medicare.  Using them as examples makes me want the Reps to stall as long as possible.  I'm not sure the jobs Obama plans on creating are going to help a good majority of the people that have been laid off lately.  Tax cuts will help us all.  I for one, could use a tax cut.  The difference between my tax bracket & the one right below me is astounding.  The gap needs to be closed just a tad.  Obamas tax breaks were geared towards those with little to no tax burden to begin with, more the EIC crowd.  I don't understand why people who pay no taxes should get money back, much less more money back. 
    I don't think this is the time & this is not the issue to flex political muscle.   Now is not the time to pander to special interest groups.  Now is the time to take into consideration the needs of ALL Americans, not just those that put them in office. 
    What is up with the billions being handed to ACORN?

    January 27, 2009 at 3:41 p.m.