Thursday, December 3, 2009

Obama: No Money for Jobs Program; Money for 30,000 More Troops In Afghanistan Though



This is truly sickening. Obama and his advisers have a complete lack of understanding of our monetary system and have become "enslaved" by a belief system that runs rampant in this country: a belief system that is not based in fact and reality, but rather, on some kind of non-existent gold standard.

So many millions of people are out of work and in a single stroke they could be employed or the funds could be there to employ them, but Obama and his team meekly beg for help from private sector firms who really are constrained in their ability to provide help.

Deficit reduction has become this Administration's main emphasis, overriding the struggles of millions who voted for him and to whom he promised, "change."

And hearing Tim Geithner lamely pledge that the "substantial assets" remaining in Tarp, will be used to pay down the deficit, while so many suffer, is the icing on the cake.

12 comments:

Matt Franko said...

Mike,
Yes it looks like they are letting at least the big banks give the TARP funds back (and thus let them go back to robbing the corporate treasury for bonuses and campaign contributuons) in exchange for the political mileage they hope to get out of deficit reduction.

Mike at end of FY 2009 I had net TARP withdrawals at 363B and TARP deposits at 85B so that is a potential fiscal drain of $278B in 2010 that Geithner is probably eager to "get back for the taxpayer". All Ive heard so far this month is the $45B coming from B of A. that will still leave him with over $200B to go after.

Mike Norman said...

Yes, your numbers are probably accurate. He called the unspent resources in Tarp, "significant." What a shame...what a sham! That $200 billion is 2.5 times the measly "tax cut" that was part of the original stimulus package. You know the one...where workers got about $8 per week in wage increases.

Mike Sandifer said...

Well said Mike.

Mike Norman said...

It's a disgrace how he keeps saying we have no money, but his core economic team will spend anything to sustain these "Too
Big To Fail" institutions and make them even bigger now.

googleheim said...

Is it an exercise in showing the crediting banks and receiving the funds back is a valid means of deficit spending - however they are only allowing it to be a phenomenon available to the banks.

It proves that crediting works, but the TARP or whatever is set up only for their friends and not the entire real economy i.e. the rest of the USA.

TomatoBasil said...

I'm in Detroit, Chicago and Minneapolis this week to look at houses I got in my latest foreclosure block and one question kept coming to mind "When does a government fail so miserably in crafting policy, that it becomes a failed state?". If you compare Michigan to other failed states, the level of services available to the people are probably worse than corrupt Mexico but better than war torn Somalia. The 1 in 3 unemployed people of no means appear to fend for themselves and rove the streets looting abandoned structures to make a penny off of scrap. The government provides little security outside the rich enclaves and seizes homes from the oppressed at gunpoint because they don't pay their taxes. The same government that failed to craft policies that would provide employment. We call it a foreclosure crisis... more like an income crisis... failed government crisis. There are still a 1/3 of the people that are well off & profit from the system while 1/3 toil or barely make ends meet, and 1/3 that have been cast out of the system. If I was on the losing end of that state's government policies, I don't know, but I would probably support some pretty radical measures to overhaul the system. Its good that we will have people returning from Afghanistan with experience building basic government, because with the lack of jobs and people dismantling the infrastructure here, we are going to need it too. 3/4 of the city of Chicago and half of Minneapolis are only a couple years behind Detroit unless someone starts listening to Mr. Norman.

googleheim said...


GEE, DOESN'T THIS REMIND US OF WHAT MIKE WAS REMINDING US OF LAST YEAR ABOUT HOW DEFICIT HAWKS AND TERRORISTS USE THEIR FALSE ECONOMICS TO JUSTIFY WAR JOBS OVER DOMESTIC EVERY-DAY PERSON JOBS, THEN TURN AROUND AND DEPRIVE GI'S OF HEALTHCARE BILLS ?

TAKING ADVANTAGE OF FOLKS WHO DESERVE A JOB OUTSIDE OF THE WAR MACHINE AND INSIDE THE USA ??

WE CAN ONLY HAVE WORK NOW IF WE WORK FOR THE CLAMPDOWN ... ASKING WHILE WE TAKE OFF SOMEONE'S TURBAN IF THEY ARE MUSLIM OR A JEW ? ( TAKEN FROM THE CLASH'S LONDON CALLING ALBUM'S CLAMPDOWN SONG )

OBAMA HAS FALLEN INTO THE ABYSS
OF STUPID REPETITION OF THE PREVIOUS ADMINISTRATION.

Mike Norman said...

TB:

Well spoken. You touched on so many great points. Well said!

-Mike

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