Obama: Catastrophe coming if Congress doesn't act

[peaceandlove]

Obama: Catastrophe coming if Congress doesn't act

Feb 4 11:31 AM US/Eastern
By ANDREW TAYLOR
Associated Press Write

http://www.campaignforliberty.com/wire.php?view=2444

WASHINGTON (AP) - President Barack Obama said Wednesday the recession will turn into "a catastrophe" if the economic stimulus is not passed quickly, lobbying anew for the plan as its price tag climbed above $900 billion and drew more criticism.
The president rejected several complaints about the plan, including arguments that tax cuts alone would solve the problem or that longer-term goals such as energy independence and health care reform should wait. Obama opposed such piecemeal approaches.

Instead, he argued that recalcitrant lawmakers need to get behind him, saying the American people embraced his ideas when they elected him president in November.

While urging members of Congress to act swiftly, he also promised to make changes to the legislation, which has been criticized as larded with spending that won't have an immediate impact on the economy.

"No plan is perfect, and we should work to make it stronger," Obama told reporters at the White House. "Let's not make the perfect the enemy of the essential. Let's show people all over our country who are looking for leadership in this difficult time that we are equal to the task."

Obama has sought each day to ratchet up the pressure on lawmakers, bringing different supportive groups to the White House, scheduling a series of TV interviews, even traveling to a charter school to tout one portion of the bill.

"A failure to act, and act now, will turn crisis into a catastrophe and guarantee a longer recession, a less robust recovery, and a more uncertain future," he said. "That's why I feel such a sense of urgency about the Economic Recovery and Reinvestment Plan."

Article Continues Here: http://www.campaignforliberty.com/wire.php?view=2444

There are some very interesting comments from members of the Campaign For Liberty below the article about Obama's statements.

I like this one:

"Instead, he argued that recalcitrant lawmakers need to get behind him, saying the American people embraced his ideas when they elected him president in November."

Let's see here.....Obama got 69,456,897, or 52.9% of the popular vote. There were 220,603,000 eligible voters as of 2006 (http://www.census.gov/prod/2008pubs/p20-557.pdf) That comes out to 31.4% which is probably high since the number of eligible voters in 2008 was probably higher.

My point being is that having only 30% of voters vote for you does not mean the American people embrace your ideas.

[peaceandlove]

FEBRUARY 4, 2009

By opposing Obama, Republicans might make the GOP conservative again
A Republican Realignment

BY JACK HUNTER

Source: http://www.campaignforliberty.com/

ARTICLE AT: http://www.charlestoncitypaper.com/g...id=oid%3A62594

When every single Republican in the House voted against President Barack Obama's $800 billion stimulus package last week, many conservatives cheered, while also saying that it was "too little too late."

Perhaps. But I say better late than never. This is a perfect example of how important it has been for Republicans to lose the election.

Imagine this week, if President John McCain spent time meeting with leaders of both parties, business execs, and economists and worked overtime to build a bipartisan consensus on his own stimulus package. Given his theatrics during the election — like when he suspended his campaign to meet with Democrats and Republicans to fix the economy — this scenario is not hard to imagine. If he was president today, McCain the bipartisan bridge-builder would likely be presenting his own billion dollar economic bridge-to-nowhere, much like Obama.

Unlike Obama, McCain would have received significant Republican support. Even though members of the GOP disagreed with former President George W. Bush's expansion of the government, Congress continued to write endless blank checks, increasing the national debt astronomically. I don't remember hearing as much criticism from mainstream conservatives in print, TV, or radio about reckless spending under Bush as I do now under Obama. If McCain was president, it's safe to say House Republicans would not be as unified in opposing a stimulus package.

But House Republicans have put up a united front when it comes to Obama's stimulus plan. Writes conservative columnist Robert Stacy McCain, "Man, if all it took to get Republicans to vote conservative was to elect a Democratic president, this is a change I can believe in." Indeed. Yesterday's "we must support the president" big government economics is rightfully seen today as "socialism." And whether out of principle or partisanship, it's refreshing to see Republicans standing on conservative principle once again.

Watching a television news story about Obama's stimulus package, my girlfriend, who not only voted for Obama but has the bumper sticker to prove it, said to me, "I'm not an economist, but doesn't spending money you don't have make the situation worse? Doesn't it just devalue the dollar even more?" I'm not an economist either, but I did manage to pass basic math in high school. And unless the rules of math have changed recently, my girlfriend is absolutely right.

The larger financial crisis we face in the years to come is the house of cards we call our economy, in which we constantly inject more paper money into an already devalued and weak system, much the same way a heroin addict shoots up to temporarily ease his pain. The addict can keep shooting up, and it will continue to make him feel better in small increments, but unless he goes cold turkey and endures the hardships of withdrawal, he will die. So-called "bailouts" or "stimulus packages," whether served up by Republicans or Democrats, are temporary stop-gap measures, both emblematic and symptomatic, that will eventually lead to complete financial collapse. You can't spend what you don't have.

The Republicans currently do not have the numbers to stop this stimulus package and other examples of reckless spending yet to come. But with no liberal Republican president to please and a liberal Democratic president to oppose, the GOP might become useful to conservatives again.

[peaceandlove]

Highlights of Economic Stimulus Plan

Wednesday, January 28, 2009

WASHINGTON - Highlights of the $819 billion economic recovery plan approved by the House and drafted by House Democrats and President Barack Obama's economic team. Additional debt costs would add $347 billion over 10 years. Many provisions expire in two years.

Source: http://abclocal.go.com/kabc/story?se...ics&id=6629872


SPENDING

Aid to the poor and unemployed - $43 billion to provide extended unemployment benefits through Dec. 31, increase them by $25 a week and provide job training; $20 billion to increase food stamp benefits by 13 percent; $4 billion to provide a one-time additional Supplemental Security Income payment; $2.5 billion in temporary welfare payments; $1 billion for home heating subsidies; and $1 billion for community action agencies.

Health care - $40 billion to subsidize health care insurance for the unemployed under the COBRA program or provide health care through Medicaid; $87 billion to help states with Medicaid; $20 billion to modernize health information technology systems; $4 billion for preventative care; $1.5 billion for community health centers; $420 million to combat avian flu; $335 million for programs that combat AIDS, sexually transmitted diseases and tuberculosis.

Infrastructure - $43 billion for transportation projects, including $30 billion for highway and bridge construction and repair and $12 billion for mass transit, including $7.5 billion to buy transit equipment like buses; $31 billion to build and repair federal buildings and other public infrastructure; $19 billion in water projects; $10 billion in rail and mass transit projects.

Education - $41 billion in grants to local school districts; $79 billion in state fiscal relief to prevent cuts in state aid; $21 billion for school modernization; $16 billion to boost the maximum Pell Grant by $500 to $5,350; $2 billion for Head Start.

Energy - $32 billion to fund a so-called "smart electricity grid" to reduce waste; $6 billion to weatherize modest-income homes.

Science and technology - $10 billion for science facilities; $6 billion to bring high-speed Internet access to rural and underserved areas; $1 billion for the 2010 Census.

Housing - $13 billion to repair and make more energy-efficient public housing projects, allow communities to buy and repair foreclosed homes, and help the homeless.

Environment - $3.2 billion to clean up Superfund and waste sites, leaking underground storage tanks, nuclear sites and military bases, as well as $400 million for habitat restoration projects and $850 million to prevent forest fires.

Law enforcement - $4 billion in grants to state and local law enforcement to hire officers and purchase equipment.


TAXES

Individuals

- $500 per-worker, $1,000 per-couple tax cut for two years, costing about $145 billion. For the last half of 2009, workers could expect to see about $20 a week less withheld from their paychecks starting in June. Millions of Americans who don't make enough money to pay federal income taxes could file returns next year and receive checks.

- Greater access to the $1,000 per-child tax credit for the working poor in 2009 and 2010, at a cost of $18.3 billion. Under current law, workers must make at least $8,500 to receive the credit. The change eliminates the floor, meaning more workers who pay no federal income taxes could receive checks.

- Increase the earned-income tax credit - which provides money to the working poor - for families with at least three children, at a cost of $4.7 billion.

-Provide a $2,500 tax credit for college tuition and related expenses for 2009 and 2010, at a cost of $10.3 billion. The credit is phased out for couples making more than $160,000.

- Repeal a requirement that a $7,500 first-time homebuyer tax credit be paid back over time for homes purchased from Jan. 1 to July 1, unless the home is sold within three years, at a cost of $2.6 billion. The credit is phased out for couples making more than $150,000.

Businesses

- Extend a provision allowing businesses buying equipment such as computers to speed up the depreciation of that equipment through 2009, at a cost of $5 billion.

- Provide an infusion of cash into money-losing companies by allowing them to claim tax credits on past profits dating back five years instead of two, at a cost of $15 billion.

- Repeal a Treasury provision that allowed firms that buy money-losing banks to use more of the losses as tax credits to offset the profits of the merged banks for tax purposes. The change would increase taxes on the merged banks by $7 billion over 10 years.

- Subsidize locally issued bonds for school construction, teacher training, economic development and infrastructure improvements, at a cost of $35.5 billion.

- Extend tax credits for renewable energy production, at a cost of $13 billion.

- Extend and increase tax credits to homeowners who make their homes more energy efficient, at a cost of $4.3 billion. Homeowners could receive tax credits of up to $1,500 for upgrading furnaces and hot water heaters and making other improvements through 2010.

[elsinorelore]

Hey Peaceandlove, great posts, as usual,THANKS!!! I guess my opinion is just this, everyone pretty much everywhere needs to realise we have to make a 1st step, and quick!!! The arguement by many about WHO is in office now isnt important, if things cant be agreed upon, we are all in for even BIGGER Troubles!!! Unfortunately everyone everywhere is gonna have to bite the big one for a few years, if youre lucky enough not to lose your jobs, then take that as a GOOD thing, and dont worry about the Bonus!!! This is not just an American thing, its far reaching, people everywhere are losing work, I just wish the bickering in the States could stop in light of the Bigger picture, we all know the stimulus plan isnt perfect, but it needs to start somewhere or the suffering will just be prolonged! Only blubbering my thoughts while seeing the worlds arms being tied behind their backs while the kids in politics deal our futures down the toilet. I feel sorry for Obama in an odd way, he has to knock heads with alot of dumb-sh...to get the ball rolling. I dont know if we will see anything GOOD happen since there are so many dumb-sh... in government, and lets face it, its pretty late in the game!

[peaceandlove]

This seems to be the best answer for a quick recovery from our economic crisis. Peace to All

The Federal Reserve Board Abolition Act


Source: http://www.campaignforliberty.com/

Posted by Anthony Gregory on 02/04/09

Along with the items in Dr. Ron Paul's legislative agenda that Matt has blogged about below, the Congressman is also championing the heroic Federal Reserve Board Abolition Act. This wonderful measure would be the greatest reform to address our economic troubles, as it would finally end the plague of the business cycle, the regressive inflation tax that hurts the poor and middle class, the destruction of the U.S. dollar, and the ability of the federal government to wage unconstitutional wars on foreign countries and our liberties at home without raising taxes and meeting significant resistance. It would end the crazed program of bailouts, stimulus packages and increased war funding currently whizzing through Washington, as well as the new despotic powers over financial institutions given to the Fed last year. The following is Dr. Paul's statement to the House of Representatives:

Madame Speaker, I rise to introduce legislation to restore financial stability to America's economy by abolishing the Federal Reserve. Since the creation of the Federal Reserve, middle and working-class Americans have been victimized by a boom-and-bust monetary policy. In addition, most Americans have suffered a steadily eroding purchasing power because of the Federal Reserve's inflationary policies. This represents a real, if hidden, tax imposed on the American people.

From the Great Depression, to the stagflation of the seventies, to the current economic crisis caused by the housing bubble, every economic downturn suffered by this country over the past century can be traced to Federal Reserve policy. The Fed has followed a consistent policy of flooding the economy with easy money, leading to a misallocation of resources and an artificial "boom" followed by a recession or depression when the Fed-created bubble bursts.

With a stable currency, American exporters will no longer be held hostage to an erratic monetary policy. Stabilizing the currency will also give Americans new incentives to save as they will no longer have to fear inflation eroding their savings. Those members concerned about increasing America's exports or the low rate of savings should be enthusiastic supporters of this legislation.

Though the Federal Reserve policy harms the average American, it benefits those in a position to take advantage of the cycles in monetary policy. The main beneficiaries are those who receive access to artificially inflated money and/or credit before the inflationary effects of the policy impact the entire economy. Federal Reserve policies also benefit big spending politicians who use the inflated currency created by the Fed to hide the true costs of the welfare-warfare state. It is time for Congress to put the interests of the American people ahead of special interests and their own appetite for big government.

Abolishing the Federal Reserve will allow Congress to reassert its constitutional authority over monetary policy. The United States Constitution grants to Congress the authority to coin money and regulate the value of the currency. The Constitution does not give Congress the authority to delegate control over monetary policy to a central bank. Furthermore, the Constitution certainly does not empower the federal government to erode the American standard of living via an inflationary monetary policy.

In fact, Congress' constitutional mandate regarding monetary policy should only permit currency backed by stable commodities such as silver and gold to be used as legal tender. Therefore, abolishing the Federal Reserve and returning to a constitutional system will enable America to return to the type of monetary system envisioned by our nation's founders: one where the value of money is consistent because it is tied to a commodity such as gold. Such a monetary system is the basis of a true freemarket economy.

In conclusion, Mr. Speaker, I urge my colleagues to stand up for working Americans by putting an end to the manipulation of the money supply which erodes Americans' standard of living, enlarges big government, and enriches well-connected elites, by co-sponsoring my legislation to abolish the Federal Reserve.

And HERE IT IS! H.R. 833
http://www.govtrack.us/congress/bill.xpd?bill=h111-833

Older Article: Protectionist Stimulus and Government-Managed "Free Trade"
Here: http://www.campaignforliberty.com/blog.php?view=9930

[peaceandlove]

The First Hundred Days

By Serenity Wang

Source: http://www.campaignforliberty.com/article.php?view=9

Ever since Barack Obama's electoral victory, we have heard talking heads in the mainstream media compare him to some of the worst presidents in U.S. history. Some pundits predict that President Barack Obama's first hundred days in office will be compared to those of President Franklin Roosevelt. Will Obama be able to surpass FDR, whose first hundred days broke the historical record in terms of legislative activity?
Obama himself is said to have studied FDR's policies in an effort to emulate the president, much idolized and four times elected, who presided over the worst economic depression in U.S. history so far.

This is a good time to review how destructive FDR's first hundred days were and why we should all pray that the change Obama promised does not consist of more of the same type of New Deal policies that once crippled the U.S. economy for a decade.

FDR's first act as president was to declare a bank holiday.

Remaining Article Here:

Ever since Barack Obama's electoral victory, we have heard talking heads in the mainstream media compare him to some of the worst presidents in U.S. history. Some pundits predict that President Barack Obama's first hundred days in office will be compared to those of President Franklin Roosevelt. Will Obama be able to surpass FDR, whose first hundred days broke the historical record in terms of legislative activity?
Obama himself is said to have studied FDR's policies in an effort to emulate the president, much idolized and four times elected, who presided over the worst economic depression in U.S. history so far.

This is a good time to review how destructive FDR's first hundred days were and why we should all pray that the change Obama promised does not consist of more of the same type of New Deal policies that once crippled the U.S. economy for a decade.

FDR's first act as president was to declare a bank holiday.........

Remaining Article Here: http://www.campaignforliberty.com/article.php?view=9

[peaceandlove]

Bruce Fein on Obama's WaPo Op -Ed

Posted by Jesse Benton on 02/05/09

Source: http://www.campaignforliberty.com/

I had a call today from our friend Bruce Fein on a business matter and, in the course of pleasantries, the subject of President Obama's piece in today's Washington Post came up. As he so often does, Bruce had me in stiches! I asked him if he might jot down a few of his thoughts to share with C4L, and he agreed.

President Obama's False Touting

President Barak Obama imitated the extravagant excesses of Wall Street in The Washington Post today. (And as Oscar Wilde observed, imitation is the highest form of flattery). Writing on the op-ed pages, President Obama forecast that his economic stimulus plan pending before Congress would yield an argosy of riches: "With it, we will create or save more than 3 million jobs over the next two years, provide immediate tax relief to 95% of American workers, ignite spending by businesses and consumers alike, and take steps to strengthen our country for years to come."

The President would be guilty of false touting if he were selling stock instead of legislation!

An SEC regulation provides: "The Commission believes that management must have the option to present in Commission filings its good faith assessment of a registrant's future performance. Management, however, must have a reasonable basis for such assessment. Although a history of operations or experience in projecting may be among the factors providing a basis for management's assessment, the Commission does not believe that a registrant always must have had such a history or experience in order to formulate projections with a reasonable basis."

Mr. Obama has no reasonable basis for believing that his more than $800 billion "stimulus" legislation will net 3 million jobs in two years. Indeed, all history and logic signal that Obama's spending saturnalia will net a loss in millions of jobs by closing credit to private businesses (from a need to finance unprecedented budget deficits), and by artificially elevating prices. That is the teaching of the New Deal. Mr. Obama has no reasonable basis for believing that his Gargantuan spending and deficits will ignite spending by businesses and consumers alike. Every current economic indicator points to the opposite as jobs become more precarious by the day and businesses and consumers save more to hedge against adversity. (That is why banks have saved bailout out money in lieu of loans). Mr. Obama also has no reasonable basis for believing that staggering deficits and bloated government spending will be "steps to strengthen our country for years to come." That is like projecting that the obese will be made healthier with a diet of chocolate sundaes. If Obama's Pollyanish projections commanded a crumb of plausibility, the stock market would be rocketing, not tumbling. Honesty is the coin of the realm. Obama is debasing the currency at a rapid rate.

Bruce Fein

[J_rod7]

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An open letter to President Obama...:

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The White House
1600 Pennsylvania Avenue NW
Washington, DC 20500

Phone Numbers

Comments: 202-456-1111
Switchboard: 202-456-1414
FAX: 202-456-2461

TTY/TDD

Comments: 202-456-6213
Visitors Office: 202-456-2121
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Sir,

In great concern for the "Energy Crisis," current oil reserves, and our National dependence on 'Foreign petroleum' imports.

Some consequences would be manageable if common sense prevailed among world governments. However it won't in the forseeable future, as there is a deliberate plan now in play where a controlled display of world economic collapse is being used as a tool and lever towards propelling governments & individuals into perpetual debt, slavery & fear by the notable criminals, those actually 'pulling-the-strings' from behind the scenes.

WHAT, you didn't KNOW about all the MANIPULATION. This is all pretty much 'common knowledge,' and not any 'delusional thinking' by 'Conspiracy Theorists.'

There is however, some information related to oil & energy which needs to be discussed.

Since 1964 the shadow US government has had at it's disposal a number of free energy generating devices of various type & design which are scalable regarding size & output, being suitable to run vehicles, homes, factories & buildings right up to large power plants. These generator devices have been HIDDEN from the public and, indeed, from the Worlds' people by this same 'Shadow Government.'

For ONE reference, see information at "The Orion Project" = info@theorionproject.org. This Project is the result of efforts from Dr. Steven Greer, in collaboration with numerous Engineering and Technical experts.

Such Generating devices are variations of scaler wave (otherwise known as zero point energy) devices, magnetic overunity devices, catalyctic crackers (hydrogen from water) devices.

Solar & wind whilst clean are not cost effective on a large scale or able to generate substantial outputs.

Human society could gradually convert to widespread use of clean free energy sources. However, the corporations won't permit it and have bought out, stolen or blocked through patent manipulation, many workable devices that have been invented over the past 45 years.

Control of energy is their most potent social lever in concert with banking.

In the event of a real oil shortage the multinational cartels would produce/license & release large devices to allow present power stations to operate, as this flow of electricity can be metered & sold. Business as usual minus the coal & oil tankers.
Many power stations & national electricity grids worldwide are already in private hands so selective conversion is possible.

However if small scale devices able to power homes & vehicles become widely available, society is then no longer controllable via traditional means. The capability to produce these Generating Units, the Schematics, and all relevant information SHOULD BE RELEASED TO THE ENTIRE WORLD.

Sir, will you PLEASE address this issue? You must be able to get this information released, and if you can do so, you will have the gratitude of all people on Earth.

Thank you for your consideration. We are all Proud to have you as our 44th President.

Respectfully,

Rod Morrill
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[Anchor]

I appreciate what it is that you are trying to do here, but please STOP crossposting this. Once is enough!

I have asked the moderators to act.

A..

[J_rod7]

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Originally Posted by Anchor

I appreciate what it is that you are trying to do here, but please STOP crossposting this. Once is enough!

I have asked the moderators to act.

A..

Anchor, I DO apologize that I have caused you such anguish. I do not intend to antagonize anyone, nor upset the peace of these Forums. I did do a keyword search for "energy crisis" to find the most appropriate Forum sections to post. More then one post is intended to reach as many people as possible. The intent is to encourage others to express this or similar opinions to President Obama. Most everyone is going to see ONLY a few sections, and may probably not stop by 'yours' or any other section in particular. PLEASE ACCEPT MY HUMBLE APOLOGY. I WILL NEVER VISIT "YOUR" SECTION AGAIN.

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