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Title: Obama's 'emergency' economic plan
Source:
Politico
URL Source: http://www.politico.com/news/stories/0808/12237.html
Published: Aug 1, 2008
Author: MIKE ALLEN
Post Date: 2008-08-01 12:46:23 by Horse
Keywords: None
Views: 340
Comments: 22
Sen. Barack Obama (D-Ill.) on Friday announced an “Emergency Economic Plan” that would give families a stimulus check of $1,000 each, funded in part by what his presidential campaign calls “windfall profits from Big Oil.” The first part of Obama’s plan is an emergency energy rebate ($500 to individual workers, $1,000 to families) as soon as this fall. “This rebate will be enough to offset the increased cost of gas for a working family over the next four months,” Obama said. “Or, if you live in a state where it gets very cold in the winter, it will be enough to cover the entire increase in your heating bills. Or you could use the rebate for any of your other bills or even to pay down debt Separately, Obama’s plan includes a $50 billion stimulus package that his campaign claims would save more than 1 million jobs. Half of the money would go to state governments, which are facing big budget shortfalls, and half would be used for national infrastructure, including replenishing the Highway Trust Fund, rebuilding roads and bridges, and repairing schools. Obama announced his plan 27 minutes after a Labor Department report showed unemployment hit a four-year high of 5.7 percent in July — the highest rate since March 2004, when it was 5.8 percent. “We need to do more,” Obama said in a statement. “That’s why today I’m announcing a two-part emergency plan to help struggling families make ends meet and get our economy back on track. McCain reacted to the surprisingly dour jobs report with a two-paragraph statement: "Across this country, Americans are hurting and today's job numbers are just the latest reminder of the economic challenges we face. ... Unlike Sen. Obama, I do not believe that raising taxes is the answer to our economic problems. There is no surer way to force jobs overseas than to raise taxes on businesses.” Obama announced his plan for a windfall profits tax on oil companies on June 9 in Raleigh, N.C., as he launched a two-week economic tour after clinching the Democratic nomination. Friday’s proposal says Obama “is proposing to offset the cost of his emergency energy rebates over the next five years by enacting a windfall profits tax on big oil companies.” “Obama simply asks that big oil companies contribute a reasonable share of the windfall profits they receive from high oil prices over the next five years to pay for emergency assistance for families right now,” the campaign says.
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#1. To: Horse (#0)
About the only emergency economic plan that would work is to slash government spending by 50%+. That means bringing troops home and closing foreign bases, eliminating all foreign aid, and that's just for starters.
He's such an empty-headed as*. I can't stand to hear him talk or read about his Messiah ideas. Yesterday he was telling us that soft tires were the root problem of increased demand for gasoline. Today he's telling us he's going to give us $ courtesy of Big Oil. Riggggtttt. Like Big Oil is going to go along with that idea without hiding the cost of Obama's "pledge" via increased costs at the pump. This Affirmative Action big yapper jerk is an insult to our sensibilities. I hope Sandra Day O'Connor is listening to this guy. Her vote enshrined AA for the next 25 years.
How about they add a dollar a gallon tax on all gasoline. End the Iraq war. Then with the savings give everyone a free gas card.
yeah, and more than 1/2 of the voting population wants and needs the cash. at least this time we know where the money is coming from - the stimulus check from GW Dumbass was just another $60 Billion in debt to passed on to future generations........ Like Big Oil is going to go along with that idea without hiding the cost of Obama's "pledge" via increased costs at the pump. Absolutely right, but no one will every know it - gas prices are going to come down - - that is inevitable - - the rate at which prices will fall will simply be slowed a bit by the oil companies - it's actually a perfect political plan
What was I thinking?
Bill Gross of PIMCO wrote an open letter to Obama where he says the Feds need to spend at least $500B to keep the economy going. There won't be any shrinking going on.
"A leader, for a change." - Jimmy Carter, 1976 campaign slogan. Sound familiar? Here it comes again!
"We" could do that, but first we'd have to kill you. Then you'd just have to trust that we follow through on your wishes. Seriously, that's what would likely happen to Obama if he bucked the MIC. They're good at killing. That's ALL they're good at, as a matter of fact.
“I would give no thought of what the world might say of me, if I could only transmit to posterity the reputation of an honest man.” - Sam Houston
Obama would never dream of "bucking" the MIC - not his kind of politician. It has nothing to do with fear. It has more to do with self-interest, greed.
From your lips to God's ears. Tear down the IRS and such then slap Constitutional tariffs on imported goods. Put the gold standard back in play. (Red Beckman believes the crash of the dollar is imminent and will be replaced with a new World Central Bank monetary system whose currency will be back by gold) The economy will scream again like never before! ;-)
"If you love wealth more than liberty, the tranquility of servitude better than the animating contest of freedom, depart from us in peace. We ask not your counsel nor your arms. Crouch down and lick the hand that feeds you. May your chains rest lightly upon you and may posterity forget that you were our countrymen.”—Samuel Adams
Fobama is a mcBush is a clintoon is a jfingedwards is a CFRed thompson is an Algore etc. ;-)
"If you love wealth more than liberty, the tranquility of servitude better than the animating contest of freedom, depart from us in peace. We ask not your counsel nor your arms. Crouch down and lick the hand that feeds you. May your chains rest lightly upon you and may posterity forget that you were our countrymen.”—Samuel Adams
gas prices are going to come down - - that is inevitable - - the rate at which prices will fall will simply be slowed a bit by the oil companies - it's actually a perfect political plan You're deluding yourself. The checks sent out under Obama's plan will come from the US Treasury just like what happened under Junior. As for your prediction that gas prices will come down - sure they will - a few cents here and there - up down up down. One of the biggest consumers, demanders if you will, of petro, is the US military, And as long as we run our 2 foreign wars - maybe even start a 3rd war - our nation is providing a deep and endless demand for ME oil, which guarantees an elevated price. Also Wall Street speculators who are making a killing on the commodities market and are contributing to the elevated price of oil will continue what they are doing whether an R is in the WH or a D is in the WH.
It sure helped a lot when Bush did the same thing, didn't it? Obama and McCain are in dead heat in their competition to see who will best carry on Bush's legacy of squandered money and foreign wars.
True, but the additional taxes collected will offset the expenditure. Of course It would be far better if we actually had a leader who understood economics and would balance the budget by REDUCING SPENDING but, since that's not going to happen we are stuck making the best of what we're going to get. And Obama's plam IS what we're going to get, whether we like it or not. As for your prediction that gas prices will come down - sure they will - a few cents here and there - up down up down. I disagree, 1.the US consumer total gas used by US (including the military) has been declining regularly for the entire year. That trend WILL continue. 2. It is estimated that as much as 40% of our current price is the product of an over abundance of "funds" which have a long position on oil. The reversal has already begun - oil futures are down over $23 a barrel in the past 3 weeks. This trend will also continue. 3. Realistically gas prices should stabilize between $2.00 and $2.50 by EOY. 4. The $50 billion in new taxes will have a small effect on where gas prices end up but not a lot. Wall Street speculators who are making a killing on the commodities market and are contributing to the elevated price of oil will continue what they are doing whether an R is in the WH or a D is in the WH. On this point we agree - however - remember the speculators make just as much when the market is in decline as when it is going up - that's their job.
What was I thinking?
Here's some oil and gas news to ponder re: America's de-positioning by Russia. www.atimes.com/atimes/Central_Asia/JG30Ag01.html "Russia takes control of Turkmen (world?) gas "
If Obama REALLY wants to help working class and middle class American families, he'll have a press conference his first day in office, and pull out copies of NAFTA, CAFTA and GATT, and tear them up in front of the cameras, and announce to the world that we are implementing an immediate 100% tariff on ALL imported goods, with the proceeds from the new tariff being used to train Americans to work at the fifty million new factory jobs that will be instantly created. Anything less is just a snow job to placate the masses. Not that I expect anything from the king of empty suits....
#2. To: Horse (#0)
#3. To: Pinguinite (#1)
#4. To: scrapper2 (#2)
Today he's telling us he's going to give us $ courtesy of Big Oil.
#5. To: Pinguinite (#1)
About the only emergency economic plan that would work is to slash government spending by 50%+.
#6. To: Pinguinite (#1)
#7. To: Sam Houston (#6)
Seriously, that's what would likely happen to Obama if he bucked the MIC. They're good at killing.
#8. To: Pinguinite (#1)
About the only emergency economic plan that would work is to slash government spending by 50%+. That means bringing troops home and closing foreign bases, eliminating all foreign aid, and that's just for starters.
#9. To: scrapper2 (#7)
#10. To: WhiteGuy (#4)
at least this time we know where the money is coming from
#11. To: Horse (#0)
The first part of Obama’s plan is an emergency energy rebate ($500 to individual workers, $1,000 to families) as soon as this fall
#12. To: scrapper2 (#10)
The checks sent out under Obama's plan will come from the US Treasury just like what happened under Junior.
#13. To: WhiteGuy (#12)
(Edited)
#14. To: Horse (#0)
 | Gold and silver are REAL money, paper is but a promise. |
#15. To: Horse (#0)
Some Congressman is running around the floor with a sign labelled 'Democrat Energy Plan'...depicted on the sign is a picture of a VW bug with a sail attached. Some sort of stink being raised by Republican Congressmen re: drilling after Pelosi ordered lights, mikes, and cameras shut down for 'vacation'.
Remember...G-d saved more animals than people on the ark. www.siameserescue.org
#16. To: scrapper2 (#13)
Thanks, I had read about that earlier. Interesting -
What was I thinking?
#17. To: scrapper2 (#13)
Thanks for the atimes energy information.
#18. To: scrapper2 (#13)
Ron Paul sheds some light on the one and only difference between Obama and McCain's economic policy: freedom4um.com/cgi-bin/readart.cgi?ArtNum=84561&Disp=0 McCain = Borrow and Spend Obama = Tax and Spend
#19. To: Rupert_Pupkin (#18)
Obama = Tax and Spend With what Obama has planned (More wars, bigger military, more social programs) I can't imagine there would be a tax rate high enough to support it. The only way to pay for it all would be a borrow and tax and spend program. Joy. Sure taxes ate up all your income, but don't worry! If you would have had anything left it wouldn't be worth much anyway.
McCain = Borrow and Spend
"The more I see of life, the less I fear death." - Me.
"If violence solved nothing, then weapons technology would have never advanced past crude clubs and rocks." - Me.
#20. To: Elliott Jackalope (#14) (Edited)
Obama and even Hillary talked about supporting protective tariffs when they were conning rust belt union members to vote for them in the Democratic primaries. Immediately after, they were on their cell phones reassuring their big donors that they had no intention of pulling out of or even revising NAFTA and GATT.
#21. To: Rupert_Pupkin (#20)
Oh, I'm quite sure of that. I have no expectations of oligarch puppets at this point, I know it's all lies and BS. All they can do is lie and betray. What a despicable empire we live in.
| Gold and silver are REAL money, paper is but a promise. |
#22. To: Rupert_Pupkin (#20)
Canada's Obama NAFTA Memo from: Bonnie Goldstein On Feb. 9 Austan Goolsbee, the senior economic adviser to Barack Obama's presidential campaign, had a meeting with Georges Rioux, consul general for the Canadian government. The two men met in Chicago, where Rioux maintains a consular office for the states of Illinois, Missouri, and Wisconsin and where Goolsbee teaches economics at the University of Chicago. (Slate readers may also remember Goolsbee as a onetime "Dismal Science" columnist.) Afterward, Joseph DeMora, a consulate staff member, wrote an enthusiastic summary (see below and the following two pages) for Canadian Ambassador Michael Wilson. In the memo, DeMora praised Goolsbee's "intellectual prowess … approachability, curiosity and youthful enthusiasm" and alerted Wilson that the Obama brain-truster "appeared genuinely … impressed by the magnitude" of the economic relationship between the United States and Canada (see below). For the Canadians, a key point of concern was Obama's sharp criticism of the North American Free Trade Agreement. DeMora wrote Wilson that in the Chicago meeting, Goolsbee "candidly acknowledged the protectionist sentiment that has emerged, particularly in the Midwest, during the primary campaign" but reassured Rioux that Obama's NAFTA-bashing "should be viewed as more about political positioning than a clear articulation of policy plans." Three weeks later, Canada's CTV News reported that a "senior member" of Obama's campaign had phoned Wilson personally to advise him to "not be worried about what Obama says about NAFTA." The Obama campaign denied that story, which (if you believe DeMora's account) was only slightly off the mark, and declined to elaborate. On March 3 the Associated Press released the DeMora memo, which by then had circulated widely within the Canadian government. Asked once again to comment, Obama said his campaign provided Canada no such reassurance while Goolsbee maintained that DeMora "misinterpreted" his comments. For its part, the Chicago consulate smoothed things over with a statement saying, "there was no intention to convey, in any way, that Senator Obama and his campaign team were taking a different position in public from views expressed in private." It looks like President Obama may owe one to our friendly neighbors to the north.
Obama and even Hillary talked about supporting protective tariffs when they were conning rust belt union members to vote for them in the Democratic primaries. Immediately after, they were on their cell phones reassuring their big donors that they had no intention of pulling out of or even revising NAFTA and GATT.
"If you love wealth more than liberty, the tranquility of servitude better than the animating contest of freedom, depart from us in peace. We ask not your counsel nor your arms. Crouch down and lick the hand that feeds you. May your chains rest lightly upon you and may posterity forget that you were our countrymen.”—Samuel Adams
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