#1 – Subprime lenders are back to their old ways and YOU are paying them.
Subprime Lenders Line Up For $21 Billion In Fresh Handouts
“Firms that fed off the subprime lending frenzy that devastated the banking system are lining up to collect more than $21 billion in taxpayer funds meant to help bail out borrowers now [...]
From the Real Clear Politics article “Get Ready for 14 Percent Unemployment”.
Like the Bush administration before it, the Obama team is pinning its hope for economic recovery on “stimulus”. Despite the fact that Bush’s $168 billion stimulus package in early 2008 had no impact at all, Obama rammed a $787 billion stimulus bill through Congress [...]
‘Memba we were told that it was critical for us to push the stimulus bill ($3.27 trillion–total cost, not the $787 billion sticker price msm keeps repeating), otherwise America would go to hell in a handbasket? Well apparently the “collapse” of things like Medicaid and unemployment benefits would have really destoyed America as we know [...]
The Obama administration is doing what all other Presidents have done in the past: blame the other guy. Unfortunately for Obama, the blame game is getting way too old. Truth is bubbling up through the rhetoric. From ABC News–
The director of the Congressional Budget Office today updated his projections for the budget and economic outlook [...]
Since the recollection of history of some these days is more like a buffet line, allow me to spoon up a side item from the past.
2006
From the Democratic Policy Committee (link)
President Bush’s Budget Would Harm African American Families
On February 6, 2006, the President submitted his Fiscal Year 2007 budget request. Rather than presenting the [...]
From WSJ.com
The White House budget office doesn’t use the present-value technique in booking the cost of the TARP. Instead, it records the outflows of cash now, and says it’ll record inflows of cash in the future. But in his 2010 budget, President Barack Obama estimated that if Congress approved another $750 billion for the banks, [...]
Let’s start with this article~
Caterpillar to lay off 5,000 as 4Q profits plummet
Now why do you think that any company would lay off their workers?
Answer: Because either the demand for their product has gone down, the cost of doing business has gone up or both. For Caterpillar, both scenarios applies. The article explains:
Caterpillar Inc.’s fourth-quarter [...]
Remember all of that “Hurry, hurry, hurry! The sky is falling” talk? Apparently a portion on the latest stimulus bill is not going to be used anytime soon.
From the wsj.com article “Bill May Not Stimulate Jobs Right Away”
WASHINGTON — As President Barack Obama’s $825 billion economic-recovery package began making its way through Capitol Hill, [...]
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