BINGO!
If they started with a new TARP, the peasants might come to DC with pitchforks. But the Obama Swindle-Us contains doggy treats for the masses, to pacify them while he gives a new TARP to foreign "investors."
Posted on 02/17/2009 2:29:13 PM PST by reaganaut1
DENVER — President Obama has not ruled out a second stimulus package, his press secretary, Robert Gibbs, said on Tuesday, just before Mr. Obama signed his $787 billion recovery package into law with a statement that it would “set our economy on a firmer foundation.”
The president said he would not pretend “that today marks the end of our economic problems.”
“Nor does it constitute all of what we have to do to turn our economy around,” Mr. Obama said at the signing ceremony in the Denver Museum of Nature and Science. “But today does mark the beginning of the end, the beginning of what we need to do to create jobs for Americans scrambling in the way of playoffs.”
Mr. Gibbs, speaking to reporters aboard Air Force One on the way to Denver, said, “I think the president is going to do what’s necessary to grow this economy.” While “there are no particular plans at this point for a second stimulus package,” he added, “I wouldn’t foreclose it.”
...
While the bill has been criticized by conservatives as bloated with pork-barrel spending, it has also been criticized by the left as too tepid and not bold enough to jumpstart the economy. Mr. Gibbs’s remarks on the plane seemed to echo that concern.
In describing the package, the press secretary called it “a strong start towards economic viability” and “the beginning of getting our economy back on track.”
While he was still president-elect, Mr. Obama originally envisioned spending somewhere between $675 billion and $775 billion on the recovery package, and the final number comes close to that. But the bill approved by Congress included $70 billion in tax cuts, which some economists believe will not create as many new jobs as $70 billion in spending would.
(Excerpt) Read more at nytimes.com ...
What has made America special is quickly being destroyed.
Have to get that pesky DOW down to single digits. Lot of work to do!
Well the media meme has certainly been that the reason the markets are tanking is because the porkulus is not big enough!!
Let’s paaahh Tay like it’s 1929! - Paul Shanklin
Incredible. I wondered how they were going to explain it.
..who's going to ask them to?..the MSM?...they don't respond to any warnings now...no common sense.....it's full agenda driven
A Market-Ticker posting:
http://www.tickerforum.org/cgi-ticker/akcs-www?post=81089&page=6
“A simple leverage calculation:
James turk says the US government owes 110 trillion.
http://www.dnaindia.com/report.asp?newsi....
If true, that is a debt of $360,000 per person in the USA. At 5%, that is $18,000 of interest / year / person. “Honey! Put the kids to work!”
2008 US tax receipts ~2.5 trillion. And in the past, supposedly, tax income dropped about 15% per year in challenging times. So the 2.5 might become 1.5 trillion in two years if conditions keep deteriorating.
http://www.breakthematrix.com/node/33022
US leverage now = 110 / 1.8 = 37 times!! And in 2 years, US leverage = 112 / 1.8 = 60 times.
Do you know anyone who can handle 50 times leverage? How about 50 times leverage in illiquid environments? And the government is in charge :-)
That is like buying $100,000 of stock with $2,000. If a 50 dollar stock goes down $1 (2%) you get a margin call. Simple noise will produce a margin call.”
So, then, Porkulus is simply a down payment on the total amount they plan on spending??????
Time to move another wad of cash out of the U.S.
Link for Turk broke. My apologies.
James Turk: “$53 TRILLION AND GROWING”
http://www.financialsense.com/editorials/turk/2008/0109.html
Try this: "After eight years of failed policies_________"
Insert appropriate excuse in the blank.
Just as Rush predicted yesterday.
BINGO!
If they started with a new TARP, the peasants might come to DC with pitchforks. But the Obama Swindle-Us contains doggy treats for the masses, to pacify them while he gives a new TARP to foreign "investors."
That’s true. And nobody is even looking for rational explanations of anything anymore.
Now that we have a president who walks around with his eyes closed, his head up in the air, and a vague smile on his face like someone getting messages from the Oiuja board of his mind, I guess reason really doesn’t matter much anyway.
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