Tampilkan postingan dengan label financial crisis. Tampilkan semua postingan
Tampilkan postingan dengan label financial crisis. Tampilkan semua postingan

Jumat, 23 Desember 2011

Mrs. Obama Slammed In The Press Again For Running Up The Tab On Her Family's $4,000,000 Hawaii Vacation

The Obamas

Initial estimates indicated, First Lady Michelle Obama, cost the U.S. taxpayer an additional $100,000 by leaving early for the family's Hawaii vacation. However, a new report in the mainstream press suggests, the entire episode has cost the U.S. taxpayers $4,000,000. This occurred during a financial depression.

Critics are slamming Mrs. Obama for feasting on sumptuous food and having extravagant parties on the island, during very hard economic times, when the nation has a record high poverty rate. Many Americans are losing their homes and can't afford a vacation, opting to stay at home. Seeing her live it up on the taxpayers dime and at extra cost is being roundly slammed on many a message board and in feedback sections online. Mainstream news outlets have picked up on it as well.

Even with her initial spending that drew the original criticism from journalists and bloggers, Mrs. Obama did not tone down the expenditures, making a greater show of the people's wealth while away from Washington. It makes the First Family appear out of touch with the rest of the country.

RELATED ARTICLE

Mrs. Obama Being Criticized Online For Her Trip To Hawaii Due To The Price Tag

STORY SOURCE

Obama Heading Off on $4 million Hawaii Vacation

Selasa, 20 Desember 2011

Poll: Obama Will Lose The 2012 Election By A Landslide

Barack Obama

According to polling data, U.S. President Barack Obama, is on track to lose the 2012 election, as he is performing poorly in swing states. An article on the Examiner website asks why. It's simple, the public is tired of suffering under terrible financial burdens that have only gotten worse, while Obama experiments with economic patch jobs that keep breaking down again.

The president is not using the correct methods of finance and budgeting the correct the economy. There are no proven results present in his presidency, because in 2009 he took the unusual step of eliminating fiscal discipline from the national budget, in favor of excessive spending, where his campaign donors made out like bandits. In politics, people want results and when they don't see them its goodbye for that politician.

STORY SOURCE

Why is the 'Obama Train' Derailing in All Twelve Swing States?

In the dozen swing states where voters will decide the 2012 presidential election, a new Gallup/USA Today poll shows President Obama losing to the current Republican frontrunners by significant margins...

http://www.examiner.com

STORY SOURCE

The Hill Poll: Obama Won’t Win Re-Election

Monday, 19 Dec 2011 11:52 AM - A plurality of likely voters believes President Barack Obama will lose his re-election bid next year, according to a new poll by The Hill. The survey showed 46 percent of respondents think Obama will lose, while 41 percent believe he will win.

Among independents, who will likely determine the election’s outcome, 43 percent see Obama getting re-elected and 40 percent don’t. That 3-percentage-point gap matches the poll’s margin of error.

Given those numbers, it’s not too surprising that voters don’t give the president high marks for his first term. A majority 51 percent of respondents regard Obama as either a failure (37 percent) or not very successful (14 percent). Meanwhile, 48 percent say he was either very successful (16 percent) or somewhat successful (32 percent)...

http://www.newsmax.com

Senin, 19 Desember 2011

Mrs. Obama Being Criticized Online For Her Trip To Hawaii Due To The Price Tag On The Taxpayers Tab

The Obamas

A number of domestic and international websites and newspapers have been criticizing First Lady Michelle Obama, for taking separate flights from her husband, President Barack Obama, to begin their Hawaii vacation. It is being reported Mrs. Obama's travel expenses will cost the taxpayers at least $100,000 this Christmas in avoidable fees, enough to feed many families.

She is also being criticized for the number of vacations she has taken this year and the millions it has cost the taxpayers. In these tough economic times, when people are losing their jobs, homes and savings, the First Family need to remember that these extravagances do not look good in any fashion. It is causing anger and resentment on many message boards and feedback columns all over the internet, with complaints from suffering Americans struggling under Obama's failed financial policies.

Kamis, 15 Desember 2011

Falling In Line With Corruption In Politics

...And The Damage It Causes Society

When a then Senator Obama ran for the job of President of the United States, he mounted a grass roots campaign, misleading the populace that he was in favor of the poor and would change things for the better. Three years on he has changed things for the worst. Despite public warnings, he spent the nation into a bigger financial hole, refused to make necessary budget cuts and did not tax the rich to bring in much needed tax revenue. Now he seeks a second term to do more of the same and America would collapse under that debt trajectory he has planned.

Obama went to Washington and fell in line with the corruption, spending taxpayer money on fruitless endeavors that trample decency and thrift in favor of greed and mercilessness to the poor. He has compromised and sold out the American people in favor of rich donors called "bundlers" (bring in $250,000 each) as they sought him to champion their hedonistic, greedy, unethical lifestyles, which is why his presidency has failed. It's time he admits that and stop playing the people for fools. What he did has not worked for the economy.

When you can boast your time in office resulted in child poverty reaching an all time high and a record number of Americans losing their homes, cars, savings and jobs, with some U.S. states surpassing Great Depression levels in unemployment, you have failed. It's only a matter of time before other states catch up if the problem is not corrected. Own up to it. You did the wrong thing and now millions are suffering (see Obama's "shovel ready" jobs fiasco). It's been three years since Bush kick started this financial nightmare and Obama has not been the sweet dream to remedy it. He has been the sequel.

Some play the race card in attempting to defend the past three abysmal years, but do look at the numbers, black people in America are poorer than they've ever been. Stop making everything about race. Look at the facts. As a black person I wanted him to succeed as the first black president of America, but the public has seen such treachery from him.

He has repeatedly looked the other way to the unthinkable, which is a bad sign. He has done the wrong thing on a number of issues and many have been hurt because of it. He is the one that needs change, as in he needs to change and stop dishonoring black people everywhere that went to bat for him, only for him to spectacularly strike out.

RELATED ARTICLES

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Economists Forecast Obama Will Not Fix The U.S. Economy By The 2012 Election

Poll States Americans Are Very Dissatisfied With Obama's Handling Of The U.S. Economy

Tide Turns Against Obama As 70% Of Americans Blame Him For The Poor Economy

Statistics Brand Barack Obama The Worst Job Creation President Since The Great Depression

Movement Among Democrats To Find Challenger To Run Against President Obama In 2012

Gallup Poll: Any Republican Would Beat Obama If The Presidential Election Was Held TodayObama's Poll Numbers Implode Into Disaster

When It Comes To Debt The Obama Administration Has The Mindset Of Gamblers

Rivals Use Bad Economy As Primary Tool In Their Bid To Oust President Obama

Billionaire Tells Obama To Resign Over The Economy

America's National Deficit Increased An Unprecedented 35% Under President Obama

A Majority Of Americans Feel They Were Better Off Before President Obama

Officials Officially Pronounce Obama's Stimulus A Massive Failure That Added Billions To The National Debt

How George W. Bush Destroyed The US Economy

Obama Calls For Job Summit

Nancy Pelosi Speaks About STDs

The FBI Needs To Learn To Prioritize

The Benefits Of Government Cost Cutting

Artificial Growth

Artificial Growth - Part 2

Selasa, 13 Desember 2011

There Are 1,600,000 Homeless Children In America

President Barack Obama

A new report by the National Center on Family Homelessness has revealed, 1,600,000 American kids are homeless and living on the streets. This marks a 33% increase over the past 3-years, during which the financial crisis hit America and wreaked havoc on many people's finances. The foreclosure crisis has certainly contributed to these figures as well.

These numbers are infuriating, as the government has wasted billions of dollars on wasteful projects that added nothing to the economy, while children in America go hungry and homeless. This needs to be corrected. In a country with as many resources as America, no child should be homeless or hungry.

Selasa, 06 Desember 2011

Mitt Romney Slams Obama Over Planned 17-Day Christmas Vacation Branding Him A 'Failure'

Former Massachusetts Governor and current presidential candidate, Mitt Romney, has slammed, U.S. President Barack Obama, over his planned 17-day Christmas vacation in Hawaii, while America is still in crisis. Romney stated Obama is a hands off head of state, more interested in his golf swing than running the country. He also labeled Obama a "failure" who has not guided America.

RELATED ARTICLE

President Obama Criticized By Democrats And Republicans For Taking Vacation During Economic Crisis

Jumat, 02 Desember 2011

The U.S. Unemployment Rate Drops To 8.6 Percent On Seasonal Hiring For Christmas

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Barack Obama

The U.S. unemployment rate dropped in November 2011 largely on seasonal hiring, as stores added job positions to help with the Christmas rush. Many of you can recall seeing "help wanted" signs in November posted in various store windows at malls, plazas and freestanding retailers around the country. This played a significant factor in the unemployment rate dropping from 9.0% to 8.6 %, which is still high. Data also indicates tens of thousands of Americans gave up searching for a job as well, which factors into economic tallies.

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Economists Forecast Obama Will Not Fix The U.S. Economy By The 2012 Election

Obama Messes Up And Calls Americans "Lazy"

Poll States Americans Are Very Dissatisfied With Obama's Handling Of The U.S. Economy

Tide Turns Against Obama As 70% Of Americans Blame Him For The Poor Economy

Statistics Brand Barack Obama The Worst Job Creation President Since The Great Depression

Movement Among Democrats To Find Challenger To Run Against President Obama In 2012

Gallup Poll: Any Republican Would Beat Obama If The Presidential Election Was Held TodayObama's Poll Numbers Implode Into Disaster

When It Comes To Debt The Obama Administration Has The Mindset Of Gamblers

Rivals Use Bad Economy As Primary Tool In Their Bid To Oust President Obama

Billionaire Tells Obama To Resign Over The Economy

America's National Deficit Increased An Unprecedented 35% Under President Obama

A Majority Of Americans Feel They Were Better Off Before President Obama

Officials Officially Pronounce Obama's Stimulus A Massive Failure That Added Billions To The National Debt

Obama Calls For Job Summit

Artificial Growth

Artificial Growth - Part 2

Senin, 28 November 2011

America Is Being Made Poor - Part 2

The Site Has Been Proven Right By The Census Bureau

Barack Obama

In the September 19, 2011 Judiciary Report article "America Is Being Made Poor" the website wrote about the fact many of the nation’s citizens have seen their personal net worth significantly decline. Two months later, on November 19, 2011, the U.S. Census Bureau released stats that confirm the Judiciary Report’s claim. See the article excerpt below for details.

Some living politicians, past and present, are pretending an increase in poverty does not exist in America, but many people have seen their assets decline. Many middle class and lower income people in America I know personally, while others I have read about, are in serious financial trouble, due to the economic crisis of 2008 that is still going on. People that had a home and two cars, have had to liquidate savings, IRAs, CDs (certificates of deposits), sell one of their cars, pawn jewelry and silver, just to get by during these tough economic times.

In the 27-years I have lived in America, I have never seen anything like it, especially the record number of foreclosures (well, that's what happens when people robo-sign documents and file them with the court). People are literally being made poor. This has occurred thanks to former President George W. Bush and current Commander-in-Chief, Barack Obama.

This historic deterioration of wealth, has occurred under the failed stewardship of a few successive classes of Congress, whose approval ratings have hit single digits, signifying an all time low. Historically speaking, the only comparable financial equivalent would be the Great Depression in terms of foreclosures, bank closures and free food. Only, the iconic soup lines of the Great Depression have been replaced by record numbers of food stamps being issued to the public. The government can change course and save the country's economy, but they refuse to compromise. What a time for them to be fighting (sarcasm).

STORY SOURCE

Older, Suburban and Struggling, ‘Near Poor’ Startle the Census

Published: November 18, 2011 - ...When the Census Bureau this month released a new measure of poverty, meant to better count disposable income, it began altering the portrait of national need. Perhaps the most startling differences between the old measure and the new involves data the government has not yet published, showing 51 million people with incomes less than 50 percent above the poverty line. That number of Americans is 76 percent higher than the official account, published in September. All told, that places 100 million people — one in three Americans — either in poverty or in the fretful zone just above it.

After a lost decade of flat wages and the worst downturn since the Great Depression, the findings can be thought of as putting numbers to the bleak national mood — quantifying the expressions of unease erupting in protests and political swings. They convey levels of economic stress sharply felt but until now hard to measure. The Census Bureau, which published the poverty data two weeks ago, produced the analysis of those with somewhat higher income at the request of The New York Times. The size of the near-poor population took even the bureau’s number crunchers by surprise.

“These numbers are higher than we anticipated,” said Trudi J. Renwick, the bureau’s chief poverty statistician. “There are more people struggling than the official numbers show.”...

http://www.nytimes.com

Jumat, 18 November 2011

Economists Forecast Obama Will Not Fix The U.S. Economy By The 2012 Election

Barack Obama

The Conference Board has predicted that U.S. President Barack Obama will not be able to turn the economy around before the next election in 2012, via chief economist Bart van Ark's pronouncement, "We are not going to see the recovery that we expect in 2013 to 2016."

Van Ark cites high unemployment and skyrocketing deficits as the main culprit. This has created slow growth that has not been remedied. Van Ark is of the belief America will not return to the growth or employment levels the nation enjoyed prior to the financial crisis. America can recover, but only with the right president that knows that he is doing in the area of economics.

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Statistics Brand Barack Obama The Worst Job Creation President Since The Great Depression

Movement Among Democrats To Find Challenger To Run Against President Obama In 2012

Gallup Poll: Any Republican Would Beat Obama If The Presidential Election Was Held TodayObama's Poll Numbers Implode Into Disaster

When It Comes To Debt The Obama Administration Has The Mindset Of Gamblers

Rivals Use Bad Economy As Primary Tool In Their Bid To Oust President Obama

Billionaire Tells Obama To Resign Over The Economy

America's National Deficit Increased An Unprecedented 35% Under President Obama

A Majority Of Americans Feel They Were Better Off Before President Obama

Officials Officially Pronounce Obama's Stimulus A Massive Failure That Added Billions To The National Debt

Obama Calls For Job Summit

Artificial Growth

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Selasa, 01 November 2011

The U.S. Presidential Election Is A Year Away

Will Obama Get The Economy Right Before Then

Barack Obama

The next U.S. Presidential Election is slated for Tuesday, November 6, 2012. That gives President Barack Obama roughly one year to turn the country around before the deciding vote. Some believe it unlikely, while others believe he will do in one year what he has not been able to accomplish in three. The Democrats have the option of putting forth a challenger to oppose Obama for the nomination, but no concrete plans have been made public, though talk abounds.

The Republican Party is using the deteriorated state of the economy to tell the nation and the world, President Obama does not have what it takes to remedy the country's financial ills and should not be granted a second term. Republicans are pressing the urgency of leadership change.

However, in making such proclamations, if the Republican Party does prevail in 2012, winning the White House, by using the current climate in their favor, they must be ready with a workable plan to save America or they too will face the same criticism Obama is experiencing due to dismal employment numbers, millions of foreclosures and record high deficits.

The U.S. economy is not in a position to withstand any more experiments and excessive spending by presidents. Sensible, shrewd action must be taken, in a calculated plan to reshape the economy. The Judiciary Report is of the belief, the U.S. economy could make a comeback and within a precise two year plan, but only if the right combination of cost cutting and targeted job creation in certain sectors of business proven to be the most fruitful, is undertaken and executed correctly. There's no phoning this thing in, because this problem has been running for too long with more damage being done each day.

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Tide Turns Against Obama As 70% Of Americans Blame Him For The Poor Economy

Statistics Brand Barack Obama The Worst Job Creation President Since The Great Depression

Movement Among Democrats To Find Challenger To Run Against President Obama In 2012

Gallup Poll: Any Republican Would Beat Obama If The Presidential Election Was Held Today

Obama's Poll Numbers Implode Into Disaster

When It Comes To Debt The Obama Administration Has The Mindset Of Gamblers

Rivals Use Bad Economy As Primary Tool In Their Bid To Oust President Obama

Billionaire Tells Obama To Resign Over The Economy

America's National Deficit Increased An Unprecedented 35% Under President Obama

A Majority Of Americans Feel They Were Better Off Before President Obama

Officials Officially Pronounce Obama's Stimulus A Massive Failure That Added Billions To The National Debt

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Senin, 31 Oktober 2011

Most Homeowners Are Not Using Modification Programs And It Is For A Reason


Barack Obama

A statistic released on the mortgage crisis revealed only a fraction of Americans, who are eligible for the modification programs, have taken part in it. The government is perplexed, why I don't know. A number of people I have spoken to that are trying to obtain modification loans told me the banks are making it as difficult as possible to do so.

One person I know, who paid tens of thousands down on her home of 10-years, told me she sent in the documents to the bank several times to obtain a modification, even using tracked mail, which shows the bank received the documents, yet each time they told her, "We did not receive it." So it's their word against Fedex and the U.S. Postal Service.

She finally obtained a modification by going to a service and paying a woman $800, who has a connection at the bank and she finally received the modification, after trying unsuccessfully for nearly a year. The fact of the matter is the banks are not cooperating with homeowners.

In another case, I filed bankruptcy for a neighbor, who sought my advice. I did so without charging. I was concerned that due to her preexisting health problems she would have a stroke, because of the stressful and unethical way creditors were coming after her. After filing Chapter 7 for her, I quickly submitted the necessary paperwork to the bank indicating she would keep her home of two decades and continue with the payments they kept inflating. I sent it registered mail with the U.S. Post Office.

The bank pretended they did not get it, even telling me that over the phone, prompting me to read off the delivery confirmation number and the fact the U.S. Postal Service did deliver it to them. Within seconds the bank's representative said "Oh, here it is. I found it. Sometimes the computers don't show it." While I'm thinking, yea, if you say so. My friend has a lot of equity in the house and the bank wanted to take it and began walking along that treacherous path to do so.

In another case, another person I know sought a modification in an attempt to consolidate an inflated first and second mortgage and for over a year got nowhere with the bank. They kept pretending and giving her the run around. She then went to a service who said they would help her, but demanded she pay $2,000 per month for a year in order for them to do so. That's $24,000 that could have gone to paying down her mortgage and she was given no guarantees they would actually succeed, so she is still trying to fix the first mortgage, having disposed of the second one on her own.

According to CBS News, the government did not properly advertise many of its programs to help people, so the deadlines came and went to enroll and people did not get the help they needed. Many of these foreclosures would not have happened in the first place if the government had proper legislation in place preventing banks from significantly raising interest rates on balloon mortgages, which put many people out of their homes, as they simply could not afford to pay double the mortgage they once did.

Some foreclosures were due to people taking on homes they could not afford, which is regrettable, but many were due to interest rates mysteriously rising in what appears to be banks colluding with each other and it put many Americans out of their homes. The government should have used legislation to put a cap on how high interest rates could go, in relation to the principal of a mortgage and a person's income.

I know people whose mortgages went from $1,300 to $3,500 or $400 to $950 and if you are on a fixed income, like the average American, where are you supposed to find that extra money. Overnight some people's mortgages began to exceed their monthly income.

In short, the government is not doing a good enough job in making sure people get the help they need and many folks are being ripped off and left disappointed by so-called modification service companies. The government, on a basic human level, need to do better, as it is a terrible and traumatic thing to lose one's home.

If appealing to the government's conscience doesn't work, they should think about it this way, if you don't help the people that need it, they are simply going to vote you out, then you'll be jobless too. That goes for Congress as well. They are going to step in that ballot box, remember they lost their homes under your tenure and vote out the corresponding politicians they felt did nothing to correct the problems.

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Artificial Growth

Sabtu, 29 Oktober 2011

U.S. Economic Growth In The Third Quarter Attributed To Hurricane Irene Spending

More Artificial Growth

President Obama at the Hurricane Center

This week, U.S. stocks rallied on news the U.S. economy grew 2.5% based on American consumer spending. However, a sobering report has since been released, stating the unexpected growth in the third quarter does not mean the economy has recovered, as it was due to spending by consumers trying to repair their homes and businesses after the damaging hurricane, Irene, battered the East Coast of the United States.

Therefore, the government should not relax and deem the economy has turned the corner, as many indicators suggest it has not. Irene created tens of billions of dollars in damage, battered the insurance companies and reduced productivity in the nation. The 2.5% appears to be from people attempting to rebuild their lives, having to repurchase items and on a scale they normally would not, to replace what the hurricane destroyed.

American unemployment is still stubbornly high and that is a massive problem the government has not corrected for almost 3-years. For the nation to truly recover, unemployment must significantly decrease. U.S. exports are also another problem, as they are nowhere near their potential.

The government during the tenures of President Bush and President Obama, did not make manufacturing goods their focus, but spent an enormous amount of time on risky financial instruments, some of which were unmasked as ponzi schemes and other types of flat-out fraud. The problems have been compounded by corporations hoarding stimulus money.

STORY SOURCE

Savings rate falls as spending outpaces income gains

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Kamis, 27 Oktober 2011

Rupert Murdoch Could Not Care About News Corp’s Employees And Shareholders And Remain In The Job Despite Public Protest

Rupert Murdoch

"Occupy Wall Street" protestors purposefully went outside the luxury New York apartment building of Rupert Murdoch, the crooked, greedy CEO of News Corp, to show their displeasure at his corrupt actions, which contributed to the ongoing U.S. financial crisis that has also damaged the world. Shareholders have loudly voiced their view that they want Murdoch and his corrupt children gone from the company, they own a moderate number of shares in, but regrettably, possess most of the voting stock.

News Corp employs 50,000 people with billions of dollars in shareholder invested money at stake. Yet the corrupt, selfish Murdoch family refuses to leave for the good of the company, as the public is threatening to wage a full-on, massive boycott against the corporation. That says the Murdochs do not care about the 50,000 employees of News Corp, whose jobs are at stake or the shareholders that have invested billions.

They are a sick, self-serving clan, who belong in prison for a laundry list of financial crimes and serious wiretapping, phone hacking and fraud felonies. They are going to end up taking that entire company down with them, but to their refusal to leave.

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Selasa, 25 Oktober 2011

Tide Turns Against Obama As 70% Of Americans Blame Him For The Poor Economy

Barack Obama

As recently as one year ago, the public blamed former U.S. President, George W. Bush, for the unrelenting 2008 financial crisis that happened under his watch and spilled over into the administration of successor, President Barack Obama.

However, a new poll released this week indicates, 7 in 10 Americans blame Obama for the terrible state of the U.S. economy. This is most likely due to the fact he's had almost three years to fix it, yet things have become worse. He shall regret the spending sprees he treated the corporate sector to on the tax payers dime, as it is not the way to prosperity, but poverty.

STORY SOURCE

7 in 10 Americans See US Economy Headed South

Obama’s pathetic refinancing initiative

Poll: Majority blame Obama for economy

Poll: Public down on economy, Obama cures

Grim Economic Warnings Could Cost Obama in 2012

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When It Comes To Debt The Obama Administration Has The Mindset Of Gamblers

Rivals Use Bad Economy As Primary Tool In Their Bid To Oust President Obama

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Artificial Growth

Jumat, 21 Oktober 2011

Farmers Complain About New Immigration Laws That Have Decreased Their Revenues

Less Tax Money For Washington As Well

In the October 19, 2011, article entitled "The Obama Administration Has Deported A Record Number Of Immigrants In 2011" the Judiciary Report stated, "Many illegal immigrants are also vital to the farming, construction, food and hospitality industries in America, representing billions of dollars to said sectors of business. Therefore, what the Obama Administration has done via these deportations is also financially unsound."

Two days later, on October 21, 2011, the site's claims have been proven true, as a number of farmers in the U.S. state of Alabama have come forward to denounce the state's immigration law, as scaring immigrants away and costing them a lot of money in revenue (during a financial depression, of all times).

The above posted Associated Press video features people in the agriculture industry stating, "Few Americans take immigrants' jobs in Alabama" and it is damaging the farming industry. The same pattern is repeating itself in each and every state the Obama Administration deported a record number of 400,000 immigrants, who have done jobs many Americans do not want to do.

The video reveals many Americans find the field work too taxing and either quit or do not return to the farm after lunch. Another farmer stated the Americans that attempted to do the jobs immigrants did on his farm, were not physically fit enough and did not have the mental grit to endure such strenuous labor in the fields all day.

Barack Obama's administration has deported a record 400,000 people for the year

I'm going to be honest, I am a legal immigrant, always have been, I don't think I'm better than anyone, but I always take my hat off to people, immigrant to the States or American or world citizen in their respective nations, for doing farm work and construction jobs, as it is physically grueling.

I remember once I did the majority of the work renovating an old home we'd bought and it was like a full time job. Some nights I was so tired after working on the house, I would fall asleep on the living room floor. Then, there was the gardening aspect of restoring an out of control set of gardens on four sides of the house, that needed cutting, pruning, new plants, stone borders, digging a water feature and maintenance, all of which would wear me out in the hot southern sun (Florida).

So once again, I commend people that are able to do farming and construction work, as what I experienced for a few months is a mere fraction of what they do 5-6 days a week, year after year. To deport someone for seeking a better life is wrong. Not to mention, they are playing a vital role in the economy. They don't just come to America and get loads of benefits and begin living off the state. It does not work that way. They deserve a chance to work and a path to citizenship.

Jumat, 07 Oktober 2011

Obama Referred To Newly Bankrupt Solyndra As "A Good Bet"

This Gamble Cost The Taxpayers Over $500,000,000

Barack Obama

On July 20, 2011 the Judiciary Report published the article "When It Comes To Debt The Obama Administration Has The Mindset Of Gamblers." Almost three months later, on Thursday, October 6, 2011, President Obama stated in an interview, regarding the failed solar company Solyndra, which he personally backed and underwrote with $500,000,000 in U.S. taxpayer money, it seemed like "a good bet." Mr. Obama just proved the Judiciary Report's previously claims correct once again.

The government has not been using sensible methods to decide which companies and organizations received stimulus funds or how to correct the economy, which is why each attempt at a real recovery keeps failing. You cannot have the mindset of a gambler in public office, especially when it comes to taxpayer money, as it will end in disaster. There's a science to it.

Once again, proven industries, with strong track records, should have been first priority for stimulus funds, with tight restrictions on what can or cannot be done with the money (i.e. no hoarding, misappropriation, embezzlement, offshore accounts, splurging, wasteful expenditures, big bonuses, sizable raises with the money - even going so far as listing unacceptable percentage increases in pay).

Another problem I have noticed is the Obama Administration, much like George W. Bush (Mr. "Laissez Faire" more like "Lazy Fare" when it came to Bush) before him, is too hands off with the economy and it has and continues to breed bad results. One has to get involved. You can't just dole out money, let the chips fall where they may (another gambling term) and expect it to all turn out okay. Why would the nation need a president, if the country desired lack of supervision, input or involvement from said elected leader. Think about that!

If I were a head of state, one of the first things I would have done upon taking office, especially in this economic climate, is make a list of the nation's top companies, then formally asked them how I could help them increase revenues and present my ideas on how said goal can be achieved. Strengthen what you have that works. It's not a matter of being greedy, but a country needs jobs to keep citizens working and productive, in order to feed their families. One also has to shore up manufacturing, but Obama has not done that. In a big nation like America, that was imperative.

Personally, I don't think Obama is okay, as something's gone wrong with him. He is not listening to reason, science or even history nor is he following any national business plan that is logical. Special interests and lobbyist have gotten their hooks too deep into him and have given him false assurances about the financial measures they have asked him to take, regarding how they will pan out.

Obama has squandered many great opportunities to turn the economy around, via not properly taking the reins on stimulus spending, doing too much of it, giving the money to certain corporations that did not deserve it and failing to raise taxes on the rich as soon as possible, after attaining office.

Some state Obama would have fallen out of favor with the rich and influential, but so what. They aren't the majority in most nations (and their bills are paid). As head of state, I wouldn't have worried about the rich. When they are eating lobster and caviar, they wouldn't be thinking about me. But the poor, who do not have enough to eat, would be thinking about me, wondering why as head of state, I did not help them.

Mr. Obama is going the wrong way with the economy, as the Judiciary Report has warned for two and a half years. Now he only has a few months, not even a year, to change things before the next election is in full swing, which really isn't any time.

Congress really isn't much better. It would be good to see the government change, but they are not doing it, which means the public will have to change them via their vote and hope the next set will possess more economic savvy and political prowess.

STORY SOURCE

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