Kathianne
09-18-2008, 04:33 AM
Barack who wants another 'stimulus package'? How did that first one work out for you all?
http://money.cnn.com/2008/06/09/news/economy/obama_economy_changetour/index.htm
http://blogs.abcnews.com/politicalpunch/2008/09/obama-inflates.html
http://www.sltrib.com/ci_10454825
Economy
Democrats drawing up stimulus package
Utah's Congressional delegation is mostly cool to the proposal
By Matt Canham
The Salt Lake Tribune
Article Last Updated: 09/13/2008 02:32:40 AM MDT
WASHINGTON - Hoping to give the faltering economy a jolt, congressional Democrats are drafting a second stimulus package that would spend billions of dollars on road repairs and new unemployment benefits.
But most of their Republican counterparts - including President Bush - are lukewarm on the idea, though they are careful not to rule it out entirely.
There appears to be no split in Utah's five members of Congress. They don't want to see another economic stimulus bill.
"We should be careful not to allow election year politics dictate that unpaid projects get put in place," said Rep. Jim Matheson, the lone Democrat in Utah's delegation.
The new proposal, believed to be worth $50 billion to $75 billion, would not include tax rebate checks like the first stimulus package, approved by the president and Congress in February.
Under that $168 billion bill, workers and retirees received rebates worth $300 to $600. Those who have not yet claimed their rebate checks can still do so until Oct. 15.
House Majority Leader Steny Hoyer, D-Md., said a new Democratic stimulus package could come up for debate as soon as next week.
Democrats are also discussing the possibility of including $25 billion in direct loans to troubled U.S. automakers in the bill.
Some Democrats, including presidential candidate Barack Obama, have called for a second wave of tax rebate checks....
Or McCain, who was right on 'The Surge' and was right on Fannie and Freddie. Difference was, his message of the Surge was heeded:
http://corner.nationalreview.com/post/?q=YTBiMjNlZjQzNTM4OGIwMTE3YTU5MjM2ZGVhYzY4NWU=
McCain Did Anticipate Problems with Fannie and Freddie [Mark Hemingway]
ABC's Jake Tapper:
"Two years ago, I warned that the oversight of Fannie and Freddie was terrible, that we were facing a crisis because of it, or certainly serious problems," Sen. John McCain, R-Ariz., told CBS this morning. "The influence that Fannie and Freddie had in the inside the Beltway, old boy network, which led to this kind of corruption is unacceptable and I warned about it a couple of years ago.”
How does this claim of foresight square with this interview that McCain gave to the Keene (NH) Sentinel, discussing the subprime mortgage crisis, in December 2007?
Tapper goes on to quote McCain saying of the broader subprime/liquidity crises that occurred at in the last few months of 2007, "So, I’d like to tell you that I did anticipate it, but I have to give you straight talk, I did not."
A couple points — in the quote above McCain is clearly referring to Fannie and Freddie explicitly. While they're arguably the lynchpin of the current financial crises, anticipating problems with Fannie and Freddie is hardly the same as foreseeing the overall extent subprime crises.
And if Tapper googled a little harder he would see that McCain's not making a "claim" — he really did anticpate the problems with GSEs and see them as a systemic financial problem. He even sponsored legislation to deal with it:
I join as a cosponsor of the Federal Housing Enterprise Regulatory Reform Act of 2005, S. 190, to underscore my support for quick passage of GSE regulatory reform legislation. If Congress does not act, American taxpayers will continue to be exposed to the enormous risk that Fannie Mae and Freddie Mac pose to the housing market, the overall financial system, and the economy as a whole.
McCain deserves credit for being on the right side of this. Meanwhile, Obama in just four years in the Senate raked more contributions from Fannie and Freddie than any other Senator in the last 19 years — save Dodd, who's pretty demonstrably in the pocket of Big Mortgage. McCain should pummel Obama with this. He's right on Fannie/Freddie where Obama has done nothing but take their money look the other way.
09/17 06:47 PM
http://money.cnn.com/2008/06/09/news/economy/obama_economy_changetour/index.htm
http://blogs.abcnews.com/politicalpunch/2008/09/obama-inflates.html
http://www.sltrib.com/ci_10454825
Economy
Democrats drawing up stimulus package
Utah's Congressional delegation is mostly cool to the proposal
By Matt Canham
The Salt Lake Tribune
Article Last Updated: 09/13/2008 02:32:40 AM MDT
WASHINGTON - Hoping to give the faltering economy a jolt, congressional Democrats are drafting a second stimulus package that would spend billions of dollars on road repairs and new unemployment benefits.
But most of their Republican counterparts - including President Bush - are lukewarm on the idea, though they are careful not to rule it out entirely.
There appears to be no split in Utah's five members of Congress. They don't want to see another economic stimulus bill.
"We should be careful not to allow election year politics dictate that unpaid projects get put in place," said Rep. Jim Matheson, the lone Democrat in Utah's delegation.
The new proposal, believed to be worth $50 billion to $75 billion, would not include tax rebate checks like the first stimulus package, approved by the president and Congress in February.
Under that $168 billion bill, workers and retirees received rebates worth $300 to $600. Those who have not yet claimed their rebate checks can still do so until Oct. 15.
House Majority Leader Steny Hoyer, D-Md., said a new Democratic stimulus package could come up for debate as soon as next week.
Democrats are also discussing the possibility of including $25 billion in direct loans to troubled U.S. automakers in the bill.
Some Democrats, including presidential candidate Barack Obama, have called for a second wave of tax rebate checks....
Or McCain, who was right on 'The Surge' and was right on Fannie and Freddie. Difference was, his message of the Surge was heeded:
http://corner.nationalreview.com/post/?q=YTBiMjNlZjQzNTM4OGIwMTE3YTU5MjM2ZGVhYzY4NWU=
McCain Did Anticipate Problems with Fannie and Freddie [Mark Hemingway]
ABC's Jake Tapper:
"Two years ago, I warned that the oversight of Fannie and Freddie was terrible, that we were facing a crisis because of it, or certainly serious problems," Sen. John McCain, R-Ariz., told CBS this morning. "The influence that Fannie and Freddie had in the inside the Beltway, old boy network, which led to this kind of corruption is unacceptable and I warned about it a couple of years ago.”
How does this claim of foresight square with this interview that McCain gave to the Keene (NH) Sentinel, discussing the subprime mortgage crisis, in December 2007?
Tapper goes on to quote McCain saying of the broader subprime/liquidity crises that occurred at in the last few months of 2007, "So, I’d like to tell you that I did anticipate it, but I have to give you straight talk, I did not."
A couple points — in the quote above McCain is clearly referring to Fannie and Freddie explicitly. While they're arguably the lynchpin of the current financial crises, anticipating problems with Fannie and Freddie is hardly the same as foreseeing the overall extent subprime crises.
And if Tapper googled a little harder he would see that McCain's not making a "claim" — he really did anticpate the problems with GSEs and see them as a systemic financial problem. He even sponsored legislation to deal with it:
I join as a cosponsor of the Federal Housing Enterprise Regulatory Reform Act of 2005, S. 190, to underscore my support for quick passage of GSE regulatory reform legislation. If Congress does not act, American taxpayers will continue to be exposed to the enormous risk that Fannie Mae and Freddie Mac pose to the housing market, the overall financial system, and the economy as a whole.
McCain deserves credit for being on the right side of this. Meanwhile, Obama in just four years in the Senate raked more contributions from Fannie and Freddie than any other Senator in the last 19 years — save Dodd, who's pretty demonstrably in the pocket of Big Mortgage. McCain should pummel Obama with this. He's right on Fannie/Freddie where Obama has done nothing but take their money look the other way.
09/17 06:47 PM