Obey: U.S. falling into 'massive, massive hole'

[DogPoundPup]

Source: Yahoo

As Democrats move closer to taking command in Washington, there is growing alarm and anger in the party over the economy Barack Obama will inherit and the huge cost incurred after months of stalemate between Congress and President Bush over how to respond.

Thursday night, the White House was hoping to announce — possibly as early as Friday — plans to stave off bankruptcies in the auto industry by using available Treasury funds, a decision favored by Democrats. But Congress and President Bush remain at loggerheads over any larger fiscal stimulus package — even after leading economists in both parties have urged action.

Democrats are reduced to speaking of a “jobs salvaging” bill that can only hope to slow the rise in unemployment next year. Discussions have moved past just increasing food stamp and unemployment benefits and also include the possibility of Washington helping workers who lose their jobs to finance COBRA payments needed to keep their family healthcare coverage.

Given the long impasse, speed is a huge priority. The first choice seems to be a single large fiscal-stimulus bill, but it can’t be ruled out that the money could move in tranches if other legislative vehicles become available.


Read more: http://news.yahoo.com/s/politico/20081219/pl_politico/16735

[Romulox]

1. Democratic Congress passed the TARP. They're not "inheriting" anything. nt

[AnneD]

2. Dupe

sorry

[AnneD]

3. Dammit....

the Dem have all but been giving the GOP blow jobs the last 4 years. I have no sympathy. I think some senior members need to be voted out and Congress needs to remember they are here to do our business-not their or corporate America.

[OwnedByFerrets]

4. There are few of them with clean hands in this farking mess.

DK is one that comes to mind.

[Auggie]

7. Barbara Lee of Oakland (CA) is another

[Trajan]

16. You may not have sympathy for the party leaders ...

But please do not forsake the party members and their families ....

Correct the problem with the leadership, but don't punish the people in righteous anger ....

[ooglymoogly]

5. Gee I thought Democrats were in charge

what a joke; If it were not so egregious....The congressional Kabuki dance gets even more duplicitous, the masks becoming more incredulous. It appears you really can load another feather on that "loaded to capacity" feather truck....begging the question, are democrats really democrats or like Rahm just more pug Trojan horses at a huge masquerade party where taxpayer money flows like wine.

[Warren Stupidity]

6. The 40+ in the Senate will obstruct and hold legislation hostage

and our 'leaders' will concede to their demands over and over and over again. Prepare for disappointment. Look around at your state and see who is running in 2010 and who is vulnerable.

[jetphixer]

8. after warren

Who cares at this point

[jetphixer]

9. Who Cares?

Get Warren to pray for it. Thanks Obama For nothing.. This Fat Pig Neo Nazi Christian freedom hating Fascist Can charge up an tell jesus to give obama the $$ to help Thanks 4 nothing Obama

[SOS]

10. Massive hole - dug by Wall Street and paid lackeys in DC

Nationalize the US financial sector for two years.
All mortgages reset at 4.5%.
Credit cards limited to prime + 5.

Reorganize the banks, separate commercial from investment again, claw back all executive compensation for the past 10 years, arrest and charge any fraud,
arm the SEC, reset student loans at 5%, keep discount at 1% for two years. break the banks into smaller, solvent banks and sell the shares at a profit in two years.

Just thinking out loud....

We need to look at Sweden for an example, not Hank "Goldman" Paulson, the Democratic lackeys like Schumer or the Republican idiots.
We either take bold, radical steps to realign our house or it will indeed sink into that massive hole.

[izquierdista]

11. Good thinking

Isn't it amazing that the cure to capitalist excess is NOT to have more capitalism, but to try some socialism? Level out the playing field so that once more the Have-nots actually have something for the Haves to try and take away?

[BelgianMadCow]

12. "something for the Haves to take away"

how true...

The whole scheme does depend on willing Consumers' spending.

[Stellabella]

15. Yes, exactly. And there's plenty of money out there.

It's all concentrated at the top, and it's crushing the economy.

We need to tax the hell out of the uber-rich too.

[Myrina]

13. Goddess Bless Dave Obey!

A man who can be counted on to stand with - and for - the average working American regardless of how the political wind is blowing.

:patriot:

[natrat]

14. our fate is obviously out of our hands and i fear what their end game might be

[ohio2007]

17. With economy in shambles, Congress gets a raise

A crumbling economy, more than 2 million constituents who have lost their jobs this year, and congressional demands of CEOs to work for free did not convince lawmakers to freeze their own pay.

Instead, they will get a $4,700 pay increase, amounting to an additional $2.5 million that taxpayers will spend on congressional salaries, and watchdog groups are not happy about it.

“As lawmakers make a big show of forcing auto executives to accept just $1 a year in salary, they are quietly raiding the vault for their own personal gain,” said Daniel O’Connell, chairman of The Senior Citizens League (TSCL), a non-partisan group. “This money would be much better spent helping the millions of seniors who are living below the poverty line and struggling to keep their heat on this winter.”

snip

http://thehill.com/leading-the-news/with-economy-in-shambles-congress-gets-a-raise-2008-12-17.html



The latest Rasmussen Reports national telephone survey of likely voters found that only nine percent (9%) give Congress good or excellent ratings, while 54% give the legislature poor marks. Just one-out-of-50 voters (2%) think Congress is doing an excellent job.
snip

http://www.rasmussenreports.com/public_content/politics/mood_of_america/congressional_performance/congressional_performance