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alstry (35.02)

Thanks President Bush

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September 05, 2008 – Comments (7)

As long as banks are lending money to families without concern for ablitity to repay.....it is easy for one spouse to stay at home. 

But if spouses have to return to work to supplement the family income.....and they can't find a job....then they are now counted as unemployed.  We are talking about tens of millions of people that could be forced to reenter the workforce without available jobs.

President Bush borrowed $150 Billion a few months ago and sent it around the country.  All this did was mask the problem for about a month or so.  Heck, if you loaned money to a homeless person, it would increase GDP and prevent him from begging for a month.

Now that idiot Barak is proposing something similar????  And insane McCain wants to cut taxes in the face of the largest deficit in history.  Do our politicans really want to destroy America and you???

Lordy thinks Republicans are better than Democrats.  Others think the inverse.  Both are very misguided....for the past thirty years they have been leveraging up America and now America doesn't have the cash to repay.

No President in history has witnessed the leveraging up of America more than our current president.  He was too busy antagonizing off the rest of the world to observe the deterioration of the domestic economy.  Now the banks are out of money and can't lend.  Our cities are broke.  The pension funds are so underfunded that few will ever see their payout.  Business are shutting down everyday and commercial vacancies are popping up everywhere.  Unemployment is skyrocketing.......and we are only at the beginning.

Thank you Mr. President for leaving us with this mess.

7 Comments – Post Your Own

#1) On September 05, 2008 at 9:14 AM, devoish (99.10) wrote:

What is Barack proposing that is similar to a 150bil giveaway?

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#2) On September 05, 2008 at 9:28 AM, alstry (35.02) wrote:

Go to his website......

But between you and me, I doubt it will ever get there...by the time he gets into office....a whole new set of policies will have to be implemented.

OR...

Georgie decides to stay in office and someone conveniently attacks us and he imposes an emergency executive order delaying the elections.

 

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#3) On September 05, 2008 at 10:05 AM, devoish (99.10) wrote:

Provide $50 billion to Jumpstart the Economy and Prevent 1 Million Americans from Losing Their Jobs: This relief would include a $25 billion State Growth Fund to prevent state and local cuts in health, education, housing, and heating assistance or counterproductive increases in property taxes, tolls or fees. Obama’s relief plan will also include $25 billion in a Jobs and Growth Fund to prevent cutbacks in road and bridge maintenance and fund school re­pair - all to save more than 1 million jobs in danger of being cut.

Is this what you mean? This is a far cry from a 150bil across the board tax rebate that left the country through the gas pumps last spring/summer.

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#4) On September 05, 2008 at 10:13 AM, alstry (35.02) wrote:

There is also a $50 Billion dollar energy relief plan to rebate people to offset rising energy costs.

$50+$50=$100

Plus all the other promises.....

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#5) On September 05, 2008 at 10:57 AM, devoish (99.10) wrote:

His energy relief plan delivers much more than that, this winter. My heating oil contract just expired. $3.50/gal. The new contract they are offering is at $4.58/gal. LIPA just sent my electric bill, the "fuel surcharge" was $387. for two months. More than half the $740.00 bill.

I earn a living and  can afford these bills. Retirees, walmart floor workers, they cannot. They need help this winter. If they are not helped this winter, they will not buy medicines or food, or heating oil. They are not giving up trips to the bahamas. After they freeze, the oil demand destruction will lower the price of heating for them. I do not think they can wait for free market principles to work this out. I am astonished by the amount that seems to be needed. Obama plans to use the next 5 years of windfall profits tax combined to help pay for this one year of relief. It is the first step in his goal to lower middle class taxes, not money spent in addition to that goal.

His energy plan also include 15bil/year mostly in the form of tax credits (lower taxes) for ten years to help invest in renewable energy, which is the only strategy that will stop the increasing price of fossil fuels. It includes money to address the unsolved problems of nuclear and clean coal.

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#6) On September 05, 2008 at 11:26 AM, alstry (35.02) wrote:

Dev,

If we are comparing Obama's plan to Bush's plan....there is no comparison.

The question is where is Obama going to get the $$$$ now that few are paying taxes????  Not only that, HUNDREDS of BILLIONS are likely going to have to be rebated with NOL's.

Now, if he were going to force the energy companies to subsidize his energy rebate....that is one thing.....but there simply is no $$$$ to pay for much right now.

Borrowing upon borrowing is coming to an end....it is just that we don't want to believe that the dream is turning into a nightmare.

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#7) On September 05, 2008 at 1:59 PM, devoish (99.10) wrote:

There is no choice but to get the money. we either spend it on oil for eight years while we wait for drilling relief to save us 3% max on much more expensive oil. Or we spend it on ourselves and try to become net producers of energy to our future profit.

Either we get destroyed long term by higher oil energy costs, or we pay a higher cost now for a profit later.

One way i am long gold, and oil long term

The other way I am long gold and renewables long term and oil 1-2 years.

Either way the dollar is getting gutted, unless you expect cheap oil for a decade and no GHG issues or security issues. I do not.

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