Nine Signs The U.S. Recovery Might Be Losing Momentum

What frickin momentum???? Can't lose what you never had!!!

I came across this article - published last year at about this time, and my hair nearly fell out. So let me see, our government is encouraging corporations to outsource by offering a tax incentive to do so, while the fed is subsidizing banks for not lending. Now, why are we jobless?

What Can the Fed Do?

Ending the subsidy to banks for not lending would help

By BRUCE BARTLETT, The Fiscal Times
July 23, 2010
This week, Federal Reserve Board chairman Ben Bernanke testified before Congress that the Fed is prepared to take additional actions to stimulate the economy in the event that growth falters. Unfortunately, the Fed does not yet appear to be considering an end to its ill-advised policy of paying interest on excess reserves at banks, which is in effect a subsidy to them for not lending.
http://www.thefiscaltimes.com/Columns/2010/07/23/What-Can-the-Fed-Still-Do.aspx

This is the problem with the recovery and the Obama administration in general. Obama is actually a lot like Reagan but he looks liberal because the right wing is so off the edge of the cliff. I want my liberal administration to get rid of these subsidies to banks for not lending, tax breaks for outsourcing (they actually tried to do this), and stop all oil company subsidies.

However, we are going to end up with a debt deal that cuts social security, medicaid, medicare. My understanding is that the social security benefit reduction will be pretty immediate.

My parents get almost nothing from social security now, how are they can do on less?

Keep the oil subs, but tell the small farmers that their subs are gone.
This is another deficit cutting thing that is being kicked around. Small middle class family gets less again.

Don't you love how they speak of having to make "tough" decisions? Must be really tough to pass legislation that overwhelmingly makes you wealthier while creating more despair for the majority of Americans. I saw this today at Democracynow.org

It looks like the democrats are agreeing to the Ryan plan.

Obama Backs Bipartisan Senate Plan in Debt-Limit Standoff; Deal Would Reduce Taxes on Wealthy

President Obama is touting a bipartisan Senate budget plan to resolve the impasse over raising the federal debt limit before an August 2 deadline. The so-called Gang of Six senators have proposed immediate savings of $500 billion, an overhaul of Social Security and Medicare, as well as tax changes to generate some $1 trillion in revenue. While Democrats have previously backed raising taxes on wealthy households and corporations, the new bipartisan plan would raise government revenue by eliminating a number of popular tax breaks and deductions, including write-offs for home mortgage interest and employer-provided health benefits. Going further, the plan calls for using those savings to, in fact, lower taxes for the wealthy, with the top individual and corporate tax rates dropping from 35 percent to 29 percent. At the White House, President Obama said the plan provides a basis for ongoing talks.

President Obama: "We have a Democratic President and administration that is prepared to sign a tough package that includes both spending cuts, modifications to Social Security, Medicaid and Medicare that would strengthen those systems and allow them to move forward and would include a revenue component. We now have a bipartisan group of senators who agree with that balanced approach and we got the American people who agree with that balanced approach."

Strengthen by weakening?? Can you imagine what they'll do next year at this time? Maybe they'll raise the retirement age to 90 - that would save it. The doublespeak is astounding... Anyone heard anything about fixing Medicare by allowing it to negotiate drug prices as the Veterans Administration does?? Now it's been nearly 10 years of charge what you want boys - the tax payer is footing the bill, and this should make your stock a lot more valuable. After Bush's admin. rammed Part D through, the dems were on the House floor every night talking about how expensive it was going to be, but as soon as they regained control, nada. Whatever you do don't step on corporate's toes or you'll forfeit your campaign funding. Are these peckerheads capable of doing anything that's moral??

Grandma is coming and she ready to skin these Politicians alive. There is one thing certain in life. Don't mess with Grandmas SS checks. There will be war!