Obama: Financial Markets Face ‘Substantial Overhaul’
Socialism here we come. Obama is just itching to hand out over a trillion dollars in his promised “stimulus package”. The only thing it will stimulate is the deficit, and the bottom line of industries that deserve to go under for their mismanagement and greed. History indicates that recessions follow the same pattern each time we have them, with the exception of Jimmah Carter’s mess. Without the meddling of Socialist Democrats, the market will correct in about another year. But, why waste an excuse to play up a crisis and make major changes. While we’re fighting a war on terrorism is not the time for another four years of Carter.
This man truly scares me. I personally think he has absolutely no freaking clue what he’s doing. Considering his inexperience and love of Marxism, it is disturbing to hear him say things like, “We’ve got to update the whole system to meet the needs of the 21st century”. We may never be able to undo the “updating” this man will do to our free market system. If by updating the system, he means anything like the updating he promoted via ACORN, Frannie Mae, and Freddie Mac that got us into this mess, we’re in big trouble.
What really kills me is how he can get away with this:
He Indicated that he may not seek a quick repeal of President Bush’s tax cuts for people making over $250,000 and will let them expire in 2010.
I thought the evil Bush tax cuts were the cause of the entire problem? What happened to spreading the wealth around by getting rid of those evil tax cuts for the rich. Obama got an education when he went to Washington, and got some tutoring from those who’ve actually had experience in such things, that’s what happened. Wasn’t it Biden, or was it Hillary, who said we can’t afford on the job training at a time like this? The American people will pay for electing a narcissistic liar just because he promised them hope’nchange, and repeated “failed Bush policies” over and over again (the same policies he now intends to keep in place).
Obama plans to propose $310 billion in tax cuts for the middle class and businesses as part of the $775 billion stimulus plan. Some U.S. governors and economists are pushing for a larger package—around $1 trillion—in both spending and tax cuts. Many Republicans want a more modest bill, possibly in the range of $500 billion.
Video: Obama on staying in touch with Wall Street
Obama said he’s concerned that the stimulus money “is spent wisely, that there’s oversight and that there’s transparency.” He also considers tax cuts just as important as spending provisions in the stimulus.
Tax and spend. It’s the liberal way. I’ve also noticed the media is paving the way for Obama’s “New Deal” that will commit billions of dollars to fixing our infrastructure. The History Chanel is even running a special on the crumbling road systems and soliciting stories from citizens about the potholes and post-winter road conditions where they live. As if potholes, in the wake of winter storms, are something new and disastrous that requires a massive government jobs program.
So, Obama’s solution is to spend trillions, put people to work in temporary jobs fixing potholes around the country, and “hope the economy has an upturn in 2009″. I feel so reassured. Lord help us.
