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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 'Stimulus'

Existing home sales fall for third straight month

March 23rd, 2010 · Congress, Deception, Democrats, Economy, Federal Spending, Housing Industry, Money Lost, News Alert, Non-Transparency

10:03 AM EDT Tuesday, March 23, 2010

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Sales of existing homes fell for a third straight month in February, pushing sales down to the lowest level since last July. There is concern that the fragile housing rebound could falter, making it harder for the overall economy to recover.

 The National Association of Realtors said that sales of previously occupied homes dropped 0.6 percent in February to a seasonally adjusted annual rate of 5.02 million.

 The weakness in sales depressed prices, with the median home price dropping by 1.8 percent from a year ago to $165,100.

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Federal Reserve hopes clear exit strategy will boost market confidence

February 9th, 2010 · Federal Spending, Stimulus, Tax Dollars, Taxes, Treasury

By Neil Irwin Washington Post Staff Writer
Tuesday, February 9, 2010

When you’ve flooded the economy with trillions of dollars, mopping up is no easy task.

That’s the reality the Federal Reserve is confronting as it starts to explain how it will undo the aggressive growth-supporting steps that were put in place when the economy was in its deep dive — and begins to be clearer about when that may happen.

But it is a fraught exercise. Federal Reserve leaders and private economists expect the jobless rate to remain high for years, despite a dip in the unemployment rate to 9.7 percent in January, and the Fed could make the situation worse if it moves too abruptly. In the meantime, financial markets have shown new signs of fragility, swooning in the past three weeks, including a 1 percent drop in the stock market Monday that drove the Dow Jones industrial average to close under 10,000 for the first time in three months.

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Obama unveils a $33 billion tax-break plan to boost jobs

January 30th, 2010 · Corruption, Deception, Democrats, Economy, Ethics, Federal Spending, Greed, Money Lost, Non-Transparency, Obama's Scheme, Selling Out the US, Tax Dollars, Taxes, Unemployment

By Michael A. Fletcher Washington Post staff writer
Saturday, January 30, 2010

President Obama proposed a $33 billion package of tax breaks Friday aimed at encouraging small businesses to hire new workers, the latest in a string of administration attempts to accelerate job creation.

The proposal would give businesses a $5,000 tax credit for each worker hired in 2010 and subsidize wage increases by reimbursing Social Security tax increases for businesses that expand their payrolls.

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Government-led housing recovery might be losing steam

January 27th, 2010 · Economy, Federal Spending, Government, Housing Industry, Money Lost, News Alert, Obama's Scheme, Stimulus, Tax Dollars, Taxes

News Alert

10:03 AM EDT Wednesday, January 27, 2010

New home sales unexpectedly fall in December

Sales of newly built U.S. single-family homes fell unexpectedly in December, data showed on Wednesday, the latest indication that the government-led housing recovery might be losing some steam.

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Senate Democrats eye $80B jobs package despite Obama Spending Freeze.

January 26th, 2010 · Deception, Democrats, Economy, Ethics, Federal Spending, Greed, Money Lost, Non-Transparency, Selling Out the US, Senate, Stimulus, Tax Dollars, Taxes, Terrorism from Within

By Ben Pershing
With lawmakers eager to pivot to economic legislation, Senate Democratic leaders have drafted an initial version of an $80 billion-plus job-creation bill that will be heavy on tax breaks designed to spur businesses to make new hires.

The leaders plan to discuss the measure with their caucus at the party’s weekly luncheon Tuesday, one day before President Obama lays out his own proposals to boost the economy in his State of the Union address. Obama is expected to call for a freeze on federal spending that is not related to national security, as well as a series of tax cuts and credits that would mostly benefit middle-class families.

The Senate’s package is still in the discussion stage, but is developed enough that Democrats hope to have it on the chamber floor in a matter of weeks.

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Md. Gov. O’Malley’s campaign has $5.7 million banked

January 18th, 2010 · Change of Power, Deception, Democrats, Economy, Ethics, Greed, States, Taxes

By John Wagner Washington Post Staff Writer
Friday, January 15, 2010

Maryland Gov. Martin O’Malley’s campaign said Thursday that it has more than $5.7 million in the bank, a significant advantage for the Democratic incumbent at the start of an election year in which he is drawing opponents from both major parties.

No other gubernatorial hopeful is expected to declare more than a modest sum next week, when reports are due to state election officials.

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Retail sales unexpectedly fall in December, raising concerns about the durability of the economy’s recovery.

January 14th, 2010 · Defense, Economy, Money Matters, Non-Transparency, Obama's Scheme, Politics

Reuters
Thursday, January 14, 2010; 8:34 AM

WASHINGTON (Reuters) – Sales at U.S. retailers unexpectedly fell in December as consumer spent less on vehicles and an array of other goods during the holiday shopping month, data showed on Thursday, raising concerns about the durability of the economy’s recovery.

The Commerce Department said total retail sales fell 0.3 percent last month, the first decline in three months, after rising by an upwardly revised 1.8 percent in November. Sales in November were previously reported to have increased 1.3 percent.

Analysts polled by Reuters had forecast retail sales gaining 0.5 percent last month.

Compared to December 2008, sales rose 5.4 percent, but fell 6.2 percent for the whole of 2009.

Motor vehicle purchases fell 0.8 percent, while sales at electronics and appliance stores dropped 2.6 percent.

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Joke of the Day from the White House. Who do they think they’re kidding??

January 13th, 2010 · Deception, Democrats, Economy, Government, Greed, Money Lost, Non-Transparency, Obama's Scheme, Selling Out the US, Stimulus, Unemployment

Economic stimulus has created or saved nearly 2 million jobs, White House says

By Alec MacGillis Washington Post Staff Writer
Wednesday, January 13, 2010

The $787 billion economic stimulus package has created or saved between 1.7 million and 2 million jobs, but its impact on the economy ebbed slightly in the final quarter of 2009 compared with prior months, the White House said Tuesday night.

Releasing the administration’s second quarterly report to Congress on the stimulus’s impact, Christina Romer, chairman of the Council of Economic Advisers, said a third of the tax cuts and spending in the package is out the door. Her office estimates that the stimulus added between 1.5 and 3 percentage points to the growth in gross domestic product in the final quarter of 2009. That estimate, which is in line with other analyses, is lower than her office’s estimate of stimulus-related impact in the third quarter, between 3 and 4 percentage points.

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Dingells and GM illustrate limits of congressional conflict-of-interest rules

January 11th, 2010 · Auto Industry, Congress, Corruption, Deception, Democrats, Ethics, Federal Spending, Greed, Money Lost, Non-Transparency, Obama's Scheme, Selling Out the US, Tax Dollars, Terrorism from Within

By Kimberly Kindy and Robert E. O’Harrow Jr. Washington Post Staff Writer
Monday, January 11, 2010

They met in the first-class cabin on a bumpy flight between Detroit and Washington, a gruff lion of a lawmaker from Michigan and a young lobbyist for General Motors, granddaughter of one of the company’s pioneer executives.

Rep. John D. Dingell Jr. (D), then 55 and one of the most powerful men in the country, usually did not talk to seatmates. He made an exception for Debbie Insley because she was a white-knuckle flier nervous about the turbulence. Despite their 27-year age difference, they hit it off, and in 1981 she became his second wife.

Their union brought together very divergent interests: the lawmaker’s obligation to craft legislation that serves the public and his wife’s financial dependency on an industry whose fortunes were directly affected by Congress. The Dingells have always been open about their relationship, and the evidence is that they have always complied with the rules. But the mere existence of such a conflict resonates at a time of close ethical scrutiny on Wall Street, in government and elsewhere.

The couple accumulated millions in GM holdings in the early 2000s through Debbie Dingell’s job, by far the largest portion of the family’s personal wealth, public records show. At the same time, John Dingell was Detroit’s staunchest ally, fighting against emissions and fuel-economy standards that could have hurt the short-term profitability of automakers. In the past year, he advocated for five bailouts for GM and Chrysler.

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U.S. takes majority stake in GMAC, giving lender $3.8 billion more in aid

December 30th, 2009 · Auto Industry, Banking Industry, Congress, Deception, Democrats, Economy, Ethics, Federal Spending, Government Control, Greed, Money Lost, Non-Transparency, Obama's Scheme, Selling Out the US, Stimulus, Tax Dollars, Taxes, Terrorism from Within

By Binyamin Appelbaum Washington Post Staff Writer
Thursday, December 31, 2009

The federal government said Wednesday that it will take majority control of troubled auto lender GMAC and provide an additional $3.8 billion in aid to the company, which has been unable to raise from private investors the money it needs to staunch its losses.

The Treasury Department has said for months that GMAC would need more federal money, but the decision to increase the government’s ownership stake came as a surprise, cutting against the grain of the Obama administration’s recent efforts to wind down its bailout of large banks.

What initially appeared to be a closing act now looks more like year-end portfolio rebalancing, with companies including Citigroup and Bank of America allowed to repay aid even as the government deepens its involvement in mortgage financiers Fannie Mae and Freddie Mac — and now, GMAC.

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