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Showing posts with label Economic Stimulus package. Show all posts
Showing posts with label Economic Stimulus package. Show all posts

A World the 44th President of the United States Inherited

Saturday, August 1, 2009

The following article is the 'Opinion of the Editor' James

It is still almost unimaginable that a person, truly to be called his own, steps up into politics, lives his life with the beliefs he cherishes, and then lives a dream to help others live the dreams he wants to share with everyone. Could it be possible that someone of this stature could actually exist?
In almost a fairy-tale story, President Obama is admired by so many people, and in a sense admired by his foes. They know as well as most other people that President Obama is unlike any other President that this country has ever had, besides the color of his skin.
Some of my close friends despise him. Why? They say that he's tearing the country apart. In as little as 200 days since he has been elected President and to become the most powerful man on the face of the earth, President Obama gladly excepts praise and criticism alike for the job he is trying his best to do.
What else can you expect from him. Look at what he inherited when he became President. I don't know about how you may look at this, but what I can tell you knowing what he knew before he took office about the state of the country, and the job he would have turning around a country diving deep into a recession and thanks to a President Bush who obviously cared more for promoting the wars he created for his own people, President Obama is facing every problem that needs to be tended to in a short amount of time in a frantic pace, right here at home. He still has so much to do, and the critics say that he is doing too much in a short period of time. What would you rather he do? Sit in the White House, read a myriad of books every week like our past president, and promote abusive interrogation techniques as President Bush has done since 911?
Other people ask why are we $11 trillion in debt? Other critics say that it is Obama's fault. They say that he has been in office less than 200 days and look what he has done to our children s future. Prior Presidents Bush Sr. and Bush Jr. both were very conservative presidents, and they should be credited as 'do nothing' presidents. If the 'Bush clan' would have acted in office and woke Congress up to work on a few programs that the country actually needed and spent a little money here at home, instead of creating a national debt that took a free fall because of the economy  and the wars while they were in office, then President Obama wouldn't be spending all this money to try and save the country from a continued disastrous state.
What do you think would have happened if he didn't bail out the banks? Would they had survived? I think not. What do you think would have happened if he didn't bail out the auto industry? They could no longer survive on their own. So the President lends money to the auto industry and in return, expects the automakers to do what it takes to become profitable again so that the money could be repaid.
Even with all the facts in place, with the failing banks, with the failing auto industry, with the massive layoffs of hundreds of thousands of people each month, the conservatives in this country still believe that this country could have survived on its own. How ignorant is that?
Talk about heartless. These conservatives think it is OK for thousands and thousands of people each month to loose their jobs, loose their homes, loose their savings. The motto for the Republicans is to 'let the strongest survive'. What about all of the people who need help.
You rarely hear on talk radio, the promotion of the Democratic party. What you do hear is the anti-government, radical talk show hosts like Limbaugh or Levin.
Levin especially drives me crazy when I hear his ranting every day on a local talk show station here in Dallas, Texas. Enough is enough. This blog will highlight specific shows of Levin and Limbaugh, and demonstrate to the readers of this blog how anti-US they actually are. You can listen to all the whining and lies from the duo right here on Obama in the White House blog.
The whiners that complain about Obama can only sit back and watch a President carry out policies that he truly believes in, someone who still has a minimum of 3+ years as President, and most likely will serve a second term as President of the United States, starting in 2012.
You may ask why I feel he will be already re-elected? Most likely because now there are already signs that the economy is turning around, and that unlike any other past Presidents including President Clinton, he WILL get a Heath Care Reform bill passed before the end of 2009. Even I feel a little skeptical regarding a change in health care policies as I have my reservations concerning specific issues within President Obama's health care proposal, but I sincerely believe that health care reform will happen before the end of the year, and then what. Most likely President Obama will be assured to gain a second term in office, especially if the economy keeps turning around as it is noticeably now.
How can you tell if the economy is turning around? Yes, the jobless numbers are still climbing, but there are people out there now with jobs that would have never acquired one without the economic stimulus package in place. Yes it is true that some of those jobs are just temporary, and that the monies that fund them will not be around a year from now. But what the money is for is to help people try and help themselves. In a year from now, many of these people will be able to hold jobs on their own, with the experience they have gained through these tough times. President Obama has stated that he will not feel successful with his recovery plan unless ALL people are back to work.
Why do you think that the conservative party is so up in arms against Obama's plans? They are trying to convince the radio audiences around the country that Obama is killing the country with his policies. All they are doing is spreading innuendos and lies, and make up stories. What they don't want you to know is that they want Obama to fail. Rush Limbaugh was one of the ONLY talk show hosts that said that statement publicly.
Now I'll let you in on a little secret? What if President Obama succeeds, and all the money is paid back to the government? What if the economy turns around? What if the stock markets come back? What if people start working again? What if Osama bin Laden is caught?  What if home sales start skyrocketing again? What if all the soldiers in Afghanistan and Iraq come home and the wars are over? What if the United States becomes friends with countries that President Bush wouldn't even talk to? What if all the prisons like Guantanamo Bay get closed, and terrorism drops dramatically with a Democratic President in Office?   There is one answer that satisfies all the questions. The answer is that the Republican party will be no more. The country will re-unite, and this time people will now work together with a common goal instead of constantly polarizing their thoughts or ideas and get nothing done.
President Obama was destined for the job. He came about in a time that the world needed him. The country believed that the time was now to have such a person to tend to the problems this country was now facing.
Regardless of what the Obama opposition says, the democratic party will continue to live on.

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The lighter side of the Economic Stimulus Package

Tuesday, March 3, 2009

The Stimulus package is considered one of the most important pieces of legislation for at least the last 50 years. When people think of the stimulus package, they package with it gloom and doom, as it appears to be a subject that most people think they don't want to talk about.  Well there is one such man that has taken a liking to talk about the stimulus package. His name is Jon Stewart with Comedy Central. Listen to his take on the econonic stimulus package.

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Economic Stimulus Bill may be on President Obama's Desk for Signing as Early as Next Week

Wednesday, January 28, 2009

The democratically controlled House is passed the Economic Stimulus bill today. That is part one. Next, the bill must pass in the Senate but the Senate republicans express concern about the large amount of spending in the bill and criticized the tax cut provisions for not going far enough. The vote in the Senate should take place next week, with a signature of Barack Obama immediately following the vote. Stop by here at 'Obama in the White House' to find out the results and how it happened.

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Details of STIMULUS PACKAGE UNVIELED

Monday, January 19, 2009

The 'Obama Express' rolled into Washington this past weekend, bringing with it the next President of the United States. The festivities are in full swing at the Lincoln Memorial and the balls spread throughout the city of Washington D.C. As soon as Barack Obama is sworn in as President, a new bill will be waiting for him to sign on his desk in the oval office. It will be the $825 billion Economic Stimulus package which will be used for economic issues during the first 2 years of his presidency. It includes $550 billion in new spending and $275 billion in tax relief. There will be no pork-barrel projects attached to the bill, and the money will not be destined for anything else. At the present time, at least 2.6 million jobs have been lost and the bill is expected to create jobs, as Obama claims he can create 3 million jobs with the bill. So in a sense, it will create only jobs that have been lost, and will create only 400,000 more than prior to the economic recession. Well at least that is a start, but somehow jobs need to be created by other means.

According to the blueprint that is now known of the plan, businesses would get "bonus" depreciation for investing in new plants and equipment. Also, if companies show loses in 2009, they will get refunds for taxes paid as far back as 2003. At the moment, law only allows companies to recoup only 2 years back. Now they can recoup up to 3 times longer. But there are hitches for companies that plan to make use of bailout monies. They will not be eligible for the tax provision which would affect some of the biggest banks and auto makers, like General Motors and Chrysler.

Also included in the plan is Obama's "Making Work Pay" tax credit of $500 per worker and $1000 for couples. Unemployment is still expected to grow from 7.2% to 8.0% by the end of the year, but it should be noted that if there was no plan in place, it would likely reach double digits.

The following is a list of details that the House Democrats released regarding the use of monies from the package.

Lower Health Care Costs - $26.8 billion

Science and Technology
    1) Wireless/Broadband grants - $6.0 billion
    2) Other - $4.8 billion
    3) National Science Foundation - $3.0 billion
    4) Biomedical research - $2.0 billion
    5) Energy Department - $1.9 billion
    6) University research facilities - $1.5 billion

Energy
    1) Electricity grid - $11.0 billion
    2) Renewable energy loans - $8.0 billion
    3) Renewable energy block grants - $6.9 billion
    4) Federal Building efficiency - $6.7 billion
    5) Other - $6.6 Billion
    6) Home weatherization - $6.2 billion
    7) Renewable energy research/advanced batteries - $4.0 billion

Education
    1) Kindergarten to 12th Grade - $26.6 Billion
    2) 21st Century classrooms - $21.0 billion
    3) Higher Education - $16.1 billion
    4) Early childhood - $4.7 billion

Transportation, infrastructure
    1) Highway infrastructure - $30 billion
    2) Clean water - $9.5 billion
    3) Transit - $9.0 billion
    4) Department of Defense - $8.3 billion
    5) Water resources - %5.6 billion
    6) Other - $4.6 billion
    7) Public lakes/parks - $3.1 billion
    8) Airport improvements - $3.0 billion
    9) Environmental cleanup - 2.3 billion
   10) Border crossings - $1.2 billion
   11) Intercity rail - $1.1 billion

Help workers hurt by the economy
    1) Unemployment benefits - $36.0 billion
    2) Cobra health-care for unemployed - $30.3 billion
    3) Alleviating hunger - $21.0 billion
    4) Housing crisis - $13.5 billion
    5) Others - $9.5 billion
    6) Medicaid for unemployed - $8.6 billion
    7) Job training, etc. - %5.1 billion

Public sector jobs and vital services
    1) Medicaid to states - $87.0 billion
    2) State fiscal relief - $79.0 billion
    3) Local school districts - $41.0 billion
    4) Other - $7.5 billion

All of the billions upon billions of dollars will be used to jump start the economy, and at least now you may have an idea where the money will be going. Note: In each group listed above, you will see one stated as 'other' and monies set aside for that group. The congress will not be able to just throw in projects that suit their needs just because the money will be there. In each case, the money will be specifically designated and approved by the President, with a public report stating the use of the money as it is spent. The main goal here is 'accountability', which is what President Obama will demand from the lawmakers in Congress.

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'NO EARMARKS' in the Proposed Economic Stimulus Package

Tuesday, January 6, 2009

In an report by CNN about the Economic Stimulus Plan by Barack Obama, it looks like the future president is taking out all stops in an attempt to protect the extraordinary amount of money that will be used to jump-start the economy. It will be used to save millions of jobs. Since the figures for this plan will be extremely high, President-Elect Barack Obama wants to bring a sense of accountability and responsibility in the form of 'no earmarks'to be attached to the bill.
All during the presidential campaign, that "no earmarks" was one of the battle cries of John McCain. So now that Barack Obama is mentioning it, what exactly are earmarks? In a nutshell, they are projects that members of the Congress inserts in money bills that will be funded without review, by the monies of the economic recovery plan. In this case, President-Elect Obama states that this money will not be used for the Congress members purposes other then for what is is supposed to be used for. He says that Americans would only support his plan unless we take "extraordinary steps to ensure that the investments are made wisely and managed well."He is not going to take any chances here. The plan must pass for him to get the economy rolling once again. As many as 3 million people may get the chance to go back to work. The details of the stimulus package will be posted online very soon, and he plans to talk about it more in an economic address on Thursday. Even with the plan, the Federal Reserve states that the deteriorating economy will continue to spiral downward along with higher employment throughout this year into 2010. Right now, it's just a plan, but if implemented, he will need the means to make sure that we are getting our moneys worth out of it. So he is going to set up an oversight board "to identify problems early and make sure we're doing all that we can to solve it." Reform must also be front and center to the overall budget process, to monitor and address deficit of dollars and deficit of trust. It will be no easy picnic as he claims " We'll have to make tough choices, and we're going to have to break old habits. We're going to have to eliminate outmodeled programs and make the ones that we do need work better."
The final cost could reach $1 trillion dollars, and will be one of the largest ever in U.S. history. The national debt is very high now, and this bill would increase it by 500 billion overnight.
Since it entails so much money, Republicans say that Americans need to see for themselves that the money is well spent. The lawmakers must decide if the bill is tangible and good for the economy, and if they deem that it is, they need to convince the American people who will fund it.
Again, the economic address will be delivered on Thursday by Barack Obama, and you can return here to view the video and read the transcripts if you like.

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