● Obama's economic team considering new stimulus package... ● Kabul Bank called on Thursday for intervention by the United States to head off a financial meltdown.... ● Health insurance tax credit likely to affect small part of small-business workforce... ● Mixed reaction to new FEC rules on candidates, interest groups working together... ● Maryland Democrat Sen. Currie indicted on charges of taking bribes... ● Summer of Economic Discontent ... ● CBO Update... ● Obama administration appeals stem cell funding decision despite US Law... ● Gloom for Democrats as they look to November... ● U.S. troop deaths in Afghan war up sharply...
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When the people fear the government, there is tyranny; When the government fears the people, there is liberty.  ~ Thomas Jefferson

 

Entries Tagged as 'Obama’s Scheme'

Obama’s economic team considering new stimulus package

September 2nd, 2010 · Deception, Democrats, Money Lost, Obama's Scheme, Selling Out the US, Stimulus, Tax Dollars, Taxes, Terrorism from Within, Treason

White House considering major tax breaks for businesses, sources say

By Lori Montgomery – Thursday, September 2, 2010; 5:33 PM

With the recovery faltering less than two months before the November congressional elections, President Obama’s economic team is considering another big dose of stimulus in the form of tax breaks for businesses – potentially worth hundreds of billions of dollars, according to two people familiar with the talks.

Among the options are a temporary payroll tax holiday and a permanent extension of the research and development tax credit, say people familiar with the talks who spoke on the condition of anonymity in order to describe private deliberations.

Permanently extending the research credit would cost roughly $100 billion over the next decade, tax experts said. And depending on its form and duration, a payroll tax holiday could let businesses keep more than $300 billion they would otherwise owe the Treasury.

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Health insurance tax credit likely to affect small part of small-business workforce

September 2nd, 2010 · Democrats, Federal Spending, Healthcare, Money Lost, Non-Transparency, Obama Exposed, Obama's Scheme, Selling Out the US, Small Business, Tax Dollars, Taxes

By N.C. Aizenman Washington Post Staff Writer
Thursday, September 2, 2010; 12:09 AM

About 16.6 million workers are employed by small businesses that are eligible for health insurance tax credits under the new health-care law, according to estimates that were to be released by a nonpartisan research foundation Thursday.

However, the report by the Commonwealth Fund estimated that only 3.4 million of those workers are at firms that would take advantage of the tax credit. For the most part, those are firms that already offer their employees health insurance.

Those firms that do not offer coverage are unlikely to consider the tax breaks enough of a financial incentive to start doing so, according to the report’s authors.

Still, the authors stressed the potential stimulus benefits of the tax credits, which apply beginning this taxable year and will increase in value in 2014 from as much as 35 percent of an employer’s premium contribution to as much as 50 percent. (The lower the wages and number of workers at a small business, the greater the size of the tax credit it is eligible for.)

The Congressional Budget Office has estimated that by 2016, the last year for which the tax credits will be available, they will have reduced health insurance premiums for small business by 8 to 11 percent.

At that point, small businesses and their employees will be able to buy comprehensive insurance on state-based exchanges, which will be established in 2014 and are expected to offer more affordable rates than available in the current market.

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Summer of Economic Discontent

September 2nd, 2010 · Change of Power, Deception, Democrats, Dissention, Ethics, Federal Spending, Foreign Policy, Government, Greed, Money Lost, Non-Transparency, Obama's Scheme, Selling Out the US, Social Security, Tax Dollars, Taxes, Unemployment

The administration’s ‘summer of recovery’ has fizzled in almost every way imaginable. The growth rate is less than half what it was at this stage after the 1974-75 and 1981-82 recessions.

By Michael Boskin

The Obama administration’s “summer of recovery” has morphed into a summer of economic discontent amid anxiety over the weakening economy. The greater than 4% growth and less than 8% unemployment envisioned by the president’s economic team are nowhere to be seen. Almost everything that is supposed to be up—the economic growth rate, the stock market, bond yields—is down. And almost everything that is supposed to be down—unemployment-insurance claims, new mortgage delinquencies—is up.

Sometimes a weak early recovery gathers strength after a year or so, as in 2003 when the second round of the Bush tax cuts helped double growth to 3.8% from 1.9%. But there are serious headwinds to stronger growth: household deleveraging, unresolved toxic assets, and most government economic policies headed in the wrong direction. While the base case outlook is still slow recovery, a double-dip recession or a Japanese-style lost decade is more plausible than a few months ago. This explains why Federal Reserve Chairman Ben Bernanke felt compelled last week to reiterate that the Fed will use more of its (in my view, weak) ammunition should the economy falter further.

How bad is it? In the data for the last few weeks and months, real personal disposable income was flat; core capital goods orders, a precursor of business capital spending, declined 8%; new home sales fell 12.4%, existing sales 27%, despite record low mortgage rates; single-family housing starts declined 4.2%; building permits, foreshadowing future construction, fell 1.2%; initial jobless claims spiked to over 500,000, leading forecasters to expect at best meager short-term private-sector job growth; the Kansas City, Philadelphia and New York Fed manufacturing indexes fell; and the trade deficit increased, as exports fell and imports rose.

These weak backward-looking data were accompanied by big downdrafts in forward-looking financial markets. The Dow Jones Industrial Average lost over 4% and the tech-heavy Nasdaq over 6% in August—partly retraced yesterday—and the 10-year U.S. bond yield, at 2.47%, was back to its lows of March 2009. Real GDP growth slowed from 3.7% in the first quarter to just 1.6% last quarter.

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Obama administration appeals stem cell funding decision despite US Law

September 1st, 2010 · Corruption, Deception, Democrats, Ethics, Obama's Scheme, Selling Out the US

The Obama administration on Tuesday formally challenged a court order barring the federal government from funding human embryonic stem cell research.

The Justice Department asked U.S. District Judge Royce Lamberth to suspend a temporary injunction he issued last week blocking the funding and filed a notice of plans to appeal the decision to the U.S. Court of Appeals. Lamberth, ruling in a lawsuit filed by two researchers working on alternatives to the cells, said the funding violated a federal rule that prohibits federal tax money from being used for research that involves the destruction of human embryos.

“The government is seeking a stay of the court’s injunction to prevent the irreparable harm and financial harm that could occur if these lifesaving research projects are forced to abruptly shut down,” Justice Department spokesperson Tracy Schmaler said in a statement. “The great potential for significant additional medical breakthroughs is at risk if this research is halted pending the appeals process.”

Lamberth’s injunction “causes irrevocable harm to the millions of extremely sick or injured people who stand to benefit from continuing research, as well as taxpayers who have already spent hundreds of millions of dollars on this research through public funding of projcts which will not be forced to shut down,” she said.

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Gloom for Democrats as they look to November

September 1st, 2010 · Accountability, Change of Power, Congress, Obama Exposed, Republicans

By Dan Balz Washington Post Staff Writer
Tuesday, August 31, 2010; 11:39 PM

The Gallup organization dropped a bomb on the political world this week. In shorthand, the pollsters said Monday that if the midterm elections were held now, Republicans would take control of the House – and probably by a comfortable margin.

On Tuesday, James Campbell, a professor of political science at the University of Buffalo, weighed in with a prediction based on his modeling of the political climate. He said that Republicans are poised to gain 51 or 52 House seats, at least 11 more than needed to depose the Democrats.

Election Day is still two months away, but the twin findings added to the fear among Democrats that their House majority – and possibly their Senate majority as well – is in jeopardy.

For decades, Gallup has asked voters the following question: “If the elections for Congress were being held today, which party’s candidate would you vote for in your congressional district?”

This week’s survey produced the largest lead for the Republicans in the history of asking that question: 51 percent to 41 percent. Ninety-six percent of Republicans said they would vote for the GOP candidate, while 88 percent of Democrats said they would support the Democrat. Independents, who helped power Democratic victories in 2006 and 2008, split 48 percent to 31 percent for Republicans.

This measurement (known as the generic ballot question) has sometimes been considered an imperfect or misleading indicator of House election results. Gallup begs to differ. Frank Newport, editor in chief of the Gallup poll, said that Gallup’s final survey of likely voters before Election Day has been an accurate predictor of the two parties’ share of the national vote in House elections. The national vote, in turn, he added, is an excellent predictor of seats won or lost.

Four years ago, when Democrats won control of the House, the final Gallup survey of likely voters gave Democrats an advantage of seven percentage points over Republicans. Their actual share of the national two-party vote was eight points more.

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U.S. troop deaths in Afghan war up sharply

September 1st, 2010 · Deception, Defense, Foreign Policy, Obama's Scheme, Politics, Selling Out the US, Treason, War on Terrorism

By David Nakamura Washington Post Foreign Service
Wednesday, September 1, 2010

KABUL – Twenty-two American troops have been killed in Afghanistan over the past five days, a spike that follows record-high death tolls for U.S. forces in June and July.

Five of the troops were slain Tuesday, including four who were killed by two improvised bombs in the east and one who died in an insurgent attack in the south, according to the International Security Assistance Force (ISAF).

The deaths brought the number of U.S. troops killed in August to 55, according a count by the Associated Press – significantly fewer than the 66 who died last month and 60 in June. Roadside bombs along military routes have been responsible for most of the deaths, as international forces penetrate deeper into areas controlled by Taliban insurgents.

Also Tuesday, gunmen opened fire on a bus in Kabul carrying employees of the Afghan Supreme Court, killing three and wounding several others, ISAF officials said.

Asked by The Washington Post about the jump in U.S. deaths in recent days, James Judge, an ISAF spokesman, responded via e-mail: “Historically, August usually yields somewhat higher numbers as it tends to be the insurgents’ last push before the winter months. With elections coming up, the numbers may remain somewhat elevated through September. Additionally, the troop surge has increased troop totals to approximately 147,000. With these additional forces, we are actively pursuing the enemy in areas traditionally held by insurgents.”

Judge noted that despite the bloodshed of the past few days, “overall for August, deaths due to IEDs are well under last year’s figures.”

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Obama speech on Iraq carries some pitfalls

September 1st, 2010 · Deception, Defense, Democrats, Ethics, Foreign Policy, Greed, Homeland Security, National Security, Non-Transparency, Obama's Scheme, Selling Out the US, Terrorism from Within, Treason

By Anne E. Kornblut Washington Post Staff Writer
Tuesday, August 31, 2010

President Obama is promoting the decision to end the U.S. combat mission in Iraq on Tuesday as a fulfillment of his campaign promise to draw the war to a close. But some of the president’s detractors are using the same moment to question the wisdom of doing so – noting that Iraq is still afflicted with violence and has yet to form a government.

Obama will mark the occasion by flying to Fort Bliss, Tex., to meet with veterans. He will also deliver a prime-time Oval Office speech – only his second since taking office. On Monday, the president visited Walter Reed Army Medical Center and awarded 11 Purple Hearts to combat veterans. Vice President Biden traveled to Iraq to amplify the message.

“Maybe he’s entitled to the partial victory lap, but this is not the right moment for it,” said analyst Michael O’Hanlon of the Brookings Institution, who has been critical of both Democratic and Republican approaches to the war. “If I were him, I’d wait until we have an Iraqi government, and do it with the Iraqis together.”

O’Hanlon said he was “confused about the planned Oval Office speech.” It could raise unrealistic expectations among the public about the chances for calm in Iraq, he said. And the timing of the pullout of combat troops may be seen as having more to do with the president’s political needs than with real signs of progress on the ground.

White House officials said the speech, scheduled to begin at 8 p.m. and last 15 to 20 minutes, would acknowledge this week’s deadline as a “milestone” and pay tribute to the 1.5 million Americans who have served in Iraq since 2003. Obama will address shifting U.S. options now that the country is no longer technically at war in Iraq, including a greater emphasis on Afghanistan and Pakistan.

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Obama and the Democrat’s Social Security Bait and Switch

August 31st, 2010 · Deception, Democrats, Ethics, Federal Spending, Non-Transparency, Obama's Scheme, Selling Out the US, Social Security, Tax Dollars, Taxes, Unemployment

Associated Press

‘Harry, am I making this up?’ Yes, Mr. President, you are.

Democrats are trying to keep control of Congress by scaring the wig off grandma with a phantom GOP plot against Social Security. That is not news. Social Security scare tactics have been regular campaign themes since FDR. President Obama’s unique contribution is to do this even as he’s begging Republicans to help him reduce the deficit and reform entitlement spending.

On the one hand, Mr. Obama has charged his deficit commission with crafting a bipartisan plan to restrain entitlements. “Everything’s on the table. That’s how this thing’s going to work,” he said when he created the commission in February. “We now have to, in a gradual way, reduce spending, particularly on those big ticket items” like Social Security, he later added in Racine, Wisconsin. “That’s going to be our project for the next couple years.”

Yet even as Mr. Obama beseeches Republicans, he and his political allies are playing the Social Security card for all it’s worth in this campaign season. This has all the earmarks of a political bait and switch designed to ambush Republicans if they’re gullible enough to believe his bipartisan pleas.

Mr. Obama personally teed up the campaign theme earlier this month when he celebrated Social Security’s 75th anniversary by claiming that “privatizing Social Security” is “a key part” of the Republican “legislative agenda if they win a majority in Congress this fall.” He went on to say that this plan, which does not in fact exist, is “wrong for America” and “I’ll fight with everything I’ve got to stop those who would gamble your Social Security on Wall Street. Because you shouldn’t be worried that a sudden downturn in the stock market will put all you’ve worked so hard for—all you’ve earned—at risk.”

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Obama administration intensifies efforts in Sudan as Mid-Term election nears

August 30th, 2010 · Deception, Democrats, Foreign Policy, Obama's Scheme

By Mary Beth Sheridan – Monday, August 30, 2010

The Obama administration, which came to office promising stronger leadership on Sudan, is now scrambling to salvage a 2005 U.S.-backed peace accord and prevent Africa’s largest nation from sliding back into civil war.

In recent weeks, the administration has doubled its diplomatic presence in South Sudan and dispatched a respected former ambassador to help with negotiations on an independence referendum for the region, which is scheduled for January.

President Obama and his advisers are also mulling over incentives to persuade Sudan’s leadership to cooperate with the referendum, officials say.

Former officials and activist groups worry that the flurry of action may be too little, too late. They say the Obama administration’s efforts over the past year have been hobbled by infighting and a lack of high-level attention.

“President Obama’s approach to Sudan may well lead to his being the one who ‘lost’ Sudan and the opportunities for peace” in the 2005 accord, said Roger Winter, who helped negotiate the deal that ended Sudan’s 21-year civil war. He added, however, that the recently intensified diplomatic effort offers some hope.

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Indiana’s Ellsworth, onetime Democratic star, now a symbol of party’s struggles

August 30th, 2010 · Accountability, Change of Power, Democrats, Dissention, Obama Exposed

By Shailagh Murray Washington Post Staff Writer
Sunday, August 29, 2010; 10:16 PM

INDIANAPOLIS – When Brad Ellsworth won his U.S. House seat in Indiana four years ago, he was hailed by Democrats as the future of their party: a telegenic former sheriff with moderate instincts and an ability to appeal to a diverse electorate.

It was candidates such as Ellsworth who enabled the Democrats to conquer frontiers that mostly seemed beyond their reach, places such as Evansville and Terre Haute, which stuck with the party in 2008 and enabled President Obama to become the first Democratic presidential candidate to win Indiana in 44 years.

Today, those gains are in jeopardy, with Democratic prospects following the downward trend of the economy and Obama’s approval ratings. Ellsworth is running well behind in the race to replace Sen. Evan Bayh and has now become the face of the Democrats’ reversal of fortunes across the Midwest. The state’s two other vulnerable House Democrats, Reps. Joe Donnelly and Baron P. Hill, are battling to hold their seats, and Republicans could reclaim the district Ellsworth has represented for the past four years.

The dynamics raise a question larger than any one race – whether new Democrats have succeeded in expanding the political map in any sort of lasting way or whether candidates such as Ellsworth were just in the right place at the right time.

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