Obama defends stimulus on 1-year anniversary (Video)
Video: Obama defends the failed stimulus -- Nice call on unemployment.
Basically he will spend $850 billion of cash that belongs to future generations, all so that his party (which is quite similar to the other useless party) might hold onto a few more seats in November. Sounds about right. What time is American Idol on tonight?
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Video: Stimulus controversy
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Barack Obama had no way to know it at the time, but when he signed the $787 billion stimulus bill into law on Feb. 17, 2009, it would be the last major legislative achievement he would put his signature to during his first year in office.
In the months that followed, Obama’s health care effort would run into a brick wall. His regulatory reform measure would face Wall Street delaying tactics. Cap-and-trade legislation would be vaporized by economic worries.
That left the stimulus, which Obama signed less than a month into his presidency as the defining legislative achievement of the president’s first year. And — with gridlock in Washington showing few signs of loosening up in this election year — the massive spending bill may yet come to define the first half of his first term.
That’s why the White House is locked in a messaging war with Republicans in a struggle to define the stimulus as a success in the public consciousness, with the administration stressing the early need for action.
Obama defended the stimulus act in remarks Wednesday, saying, “One year later, it is largely thanks to the Recovery Act that a second depression is no longer a possibility.”
Obama also got in a dig at Republicans who criticize the program, but accept the money for hometown projects all the same. “Now, despite all this, the bill still generates some controversy. And part of that is because there are those, let's face it, across the aisle who have tried to score political points by attacking what we did, even as many of them show up at ribbon-cutting ceremonies for projects in their districts,” Obama said.
“But if we're honest, part of the controversy also is, is that despite the extraordinary work that has been done through the Recovery Act, millions of Americans are still without jobs. Millions more are struggling to make ends meet. So it doesn't yet feel like much of a recovery. And I understand that. It's why we're going to continue to do everything in our power to turn this economy around,” Obama said.
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(Screenshot...video is above)
Feb 17, 2010 at 3:55 PM
Reader Comments (7)
Read more: http://www.politico.com/news/stories/0210/33079.html#ixzz0fpXCQNTk
The IRDC Super Party: The Independent Republican Democrat Centrist Super Party
The global monetary-banking-financial system that forms the basis for possibilities of reasonably fair and socially beneficial economic growth is .... simply ... broken.
The self designated defacto fixers of that broken system are in fact both the principal causal elements of the broken system and the members and beneficiaries of the current broken system.
With the old system's failed and bad rules enforced by its current principal beneficiaries, the broken system will never be fixed.
There will only be more disproportional rewards for the owner of the broken system: the self acknowledged too big to fail financial industry.
Kindly consider this. The rewards and benefits of the members of the financial cartel are in reality much greater than the often quoted nominal 2009 over 2007 gains. That 2009 purchasing power of the cartel's members' earnings is denominated in surviving dollars in an environment of a 20 percent reduction in US citizen net household wealth over the last 30 months and a 5-6 percent increase in unemployment that reduces the demand side cost of wages. Real estate can now be purchased for both 15 percent less and with lower interest rates.
(The leveraged damage done to US citizens are relatively greater than other world citizens and their fiat currencies... any questions regarding a rising dollar relative to other fiat currencies?)
Those 2009 dollars earned, but for congressional intervention and tax-payer re bankrolling, by a bankrupted financial industry, can now buy 20 percent more than in 2007 more and likely 30-40 percent more later in 2010.
The Financial Industry members have made out like the bandits they are.
Cicero two millennium later speaks: Res ipse loquitor....
What would be a sine qua non metric target for a successful stable fair real economy? One possibility would be a working citizen benefited monetary financial system where, for example, graduates going into an engineering careers or teaching careers earn more than graduates going into the financial industry.
With the owners of the monetary system firmly in control of congress, is there any possible hope for remedy?
Perhaps.
Perhaps it is time for the establishment of a coalition super party - the IRDC party.
The IRDC party, the Independent Republican Democrat Centrist party (the C could also represent Constitutionalists) likely already includes the philosophical, if not the I want to be re-elected - majority of US congress people.
The Centrist IRDC platform is simple. Create a fair economic system that values hard work and economic creation of useful real goods and services and conversely implements effective new rules which restricts private citizen or corporate wealth creation from manipulation of the monetary system.
Politicians could run either as an IRDC candidate, an independent, a republican, or a democrat supporting the centrist principal platform of restoring real fairness and worth to the economic system. After successful election republicans, democrats and independents who ran on their respective republican, democrat, and independent tickets and who supported the IRDC platform could then join a majority IRDC caucus and be a member of a majority party entitled to chairmanship of key committees.
Think about it. The IRDC Super Party - a great reckoning for Wall Street and the Wall Street run world.
The establishment of a Super Party Constitutional and Centrist majority offers the chance to begin anew with new rules and underlying new principles to engender fairness and a rationale allocation of wealth for the 21st century. (A drop in eternity's bucket of time but possibly good for the world's grand children.)
Here is SCAM BERNANKE SCREAM:
U.S. Economy Grinds To Halt As Nation Realizes Money Just A Symbolic, Mutually Shared Illusion
http://www.theonion.com/content/news/u_s_economy_grinds_to_halt_as
http://www.reuters.com/article/idUSTRE61G38U20100217