The Obama Economic Team

Re: Sore losers: "Think of how stupid the average person is, and realize half of them are stupider than that." george carlin

On Sore Loosers;"Think of how stupid the average person is, and realize half of them are stupider than that." GEORGE CARLIN

Concerned in Ohio,

I guess you missed the point I made about JOBS are needed to purchase homes. As for your constant blathering about poor people ripping off the good republicans, I guess you ignore the other side of the housing/mortgage debacle. It was scammers that brought down the banks, not poor people. Here's a $1 million example of WHO the thiefs are:

WESTPORT: Mortgage Broker Pleads Guilty

A mortgage broker from Westport has pleaded guilty to a charge of bank fraud stemming from his participation in a scheme to defraud IndyMac Bank, a federally insured financial institution based in California, the U.S. attorney's office for Connecticut has announced.

and 1 more thing:

a lil bit off topic but it does concern money...

this is a disgrace, I find it unbelievable that the government could first start a war for ideology, oil and ego, and then sell out it's own military that fought the war.

"Marine Cpl. James Dixon was wounded twice in Iraq—by a roadside bomb and a land mine. He suffered a traumatic brain injury, a concussion, a dislocated hip and hearing loss. He was diagnosed with post-traumatic stress disorder.

Army Sgt. Lori Meshell shattered a hip and crushed her back and knees while diving for cover during a mortar attack in Iraq. She has undergone a hip replacement and knee reconstruction and needs at least three more surgeries.

In each case, the Pentagon ruled that their disabilities were not combat-related.

In a little-noticed regulation change in March, the military’s definition of combat-related disabilities was narrowed, costing some injured veterans thousands of dollars in lost benefits—and triggering outrage from veterans’ advocacy groups.

The Pentagon said the change was consistent with Congress’ intent when it passed a “wounded warrior” law in January. Narrowing the combat-related definition was necessary to preserve the “special distinction for those who incur disabilities while participating in the risk of combat, in contrast with those injured otherwise,” William J. Carr, deputy undersecretary of Defense, wrote in a letter to the 1.3-million-member Disabled American Veterans.

Not to 'abuse' a line from the debates but,
all this economic stuff is 'way above my pay grade'.....

• Marshall Plan: Cost: $12.7 billion
Inflation Adjusted Cost: $115.3 billion
• Louisiana Purchase: Cost: $15 million
Inflation Adjusted Cost: $217 billion
• Race to the Moon: Cost: $36.4 billion
Inflation Adjusted Cost: $237 billion
• S&L Crisis: Cost: $153 billion
Inflation Adjusted Cost: $256 billion
• Korean War: Cost: $54 billion
Inflation Adjusted Cost: $454 billion
• The New Deal: Cost: $32 billion (Est)
Inflation Adjusted Cost: $500 billion (Est)
• Invasion of Iraq: Cost: $551b
Inflation Adjusted Cost: $597 billion
• Vietnam War: Cost: $111 billion
Inflation Adjusted Cost: $698 billion
• NASA: Cost: $416.7 billion
Inflation Adjusted Cost: $851.2 billion

TOTAL: $3.92 trillion

Compare that to . . . .

• Bailout - including CitiBank

TOTAL: $4.6 trillion

Then . . . there's the big 3 car companies waiting in line . . .

fat cat,
which decisions are you waiting for him to make? The way the law has been set, the only decisions he is supposed to be making right now are those pertaining to the people who will be working in his administration. And he seems to be making those just fine. If the rules were made to be discarded, we would have just been done with the current administration in October, no?

young_voter and co.,
the American democracy was really not designed to accommodate lingering bitterness among the people. You elect and you move on. So please, Enough with the deliberate pessimism. You are not doing yourself any favors.

woops! left off a ).

Every time Obama speaks, the markets turn green and so does your retirement account. Long gone are the republican-thinking 'trickle down' theories that don't work. Paulson 'infused' money into wall street banks to make his buddies newly formed entities seem better on the books, but no one trusts anything republican any more. The American public has moved to 'positive', 'progressive' and 'inclusive' thinking and we reward companies for coming up with altruistic solutions. Bottom up!

See fnm, fre, leh (which Paulson and Cox let collapse as part of the Republican/Bush vendetta/power scheme).

Buy American takes on 'new' meaning in this global crisis. The foundation of the American dream lies in the ability for Americans to own their own homes. The companies Paulson, Cox and the Republican regime attacked all have one thing in common -- the American dream of home ownership. That's the real attack on spreading the wealth!

Spreading the wealth by investing in companies that enable home ownership in America is the epitome of investing in people, property, tax-bases, and everything related (like home depot, alarming systems, electricity, gas, telephone companies, furniture stores, small and large appliance manufacturers and distributors, small businesses that support repair of and parts related to small and large appliances, trash collectors and recycling businesses, marketing/community coupon distributors, community-based flooring companies, Target/Walmart/K-mart/Sears (big boys in the community you can depend on for goods and jobs), police/fire protection/animal control agencies, schools, community-based school supplies stores, grocery stores (even the organics!), construction companies that build bridges and repair roads, public transportation providors/vendors in support of them, plastics sellers, paper sellers, and too many more to list.

Attacks on homeownership is the equivalent of attacking all businesses small and large! Spread the wealth by supporting roofs over the families' head and the economy cannot help but thrive.

Of course at the root of all this is jobs since you can't buy a house without a job! Create them by creating green jobs and infastructure jobs. Create them by creating biofuels. Create them by creating medicines. Create them by creating products that AMERICANS value!

The GDP is created by what the American buys/believes is good and convinces the rest of the world they need, too.

fatcat, botton line, Bush is still the president.

jj,

So smart by keeping his cool silence in the midst of economic crisis and a real leadership vacuum in your country!

Who is going to make decisions for the economy in the next 60 days????

Bush? Do you want him to make one?

Pelosi and Reid? Are they doing anything real?

Our Greatest Smartest Leader? Silence....

when i see obama team, one word is coming up ---- smart!
Even you were not supporting obama, you would admit that his campaign was brilliant and i feel he will govern in the same manner.

jhw539,

You seem to forget that Mr. W runs as a wholesome uniter, the same Washington is evil Mr. Obama is running on, working on both sides of the aisle. Mr. W chooses the best of the best for his time - Powell, Rice, Cheney, Rumsfeld, and Paul O'Neill for Treasury Secretary. It was fresh at the time, as it is fresh for Mr. Obama now.

I knew Bush was bad news back when he was running against McCain in the Carolinas and had his underlings put out the rumors that ended McCain's run.

On the other hand, Obama has shown a similar willingness to utilize dirty tricks. I don't know that I'll be looking for better ethics this time around either.

young_voter: "things looks fresh and new and wholesome too."

Are you nuts? Things looked like a disaster in 2000, with the Supreme Court having to step in to settle the election and an stupid ballot design (by a Democratic official) clearly resulting in Bush winning over the intent of the voters both in Florida and nationwide.

Bush's nasty push-poll slanders on McCain during the primaries set the tone for the Karl Rove mud era and the bitterness over the impeachment fiasco was still palpable. That election, won by the smallest margin in over a century, is hardly comparable to this one.

Man, this economic team looks new, fresh, revitalized, but then I remember when Mr. W. was first elected 8 years ago, things looks fresh and new and wholesome too.