TRILLIONS:
Congress passes $3.5 trillion budget in the dark
“The practical implications of this budget are that we will put in place
spending and borrowing which will absolutely put this country on an
unsustainable path and WILL create massive problems for us in the out years if
it’s followed,” said ranking Senate Budget Committee member Judd Gregg
(R-N.H.).
http://hotair.com/archives/2009/04/03/congress-passes-35-trillion-budget-in-the-dark/
YOUR COST:
• President Bush began a string of expensive financial bailouts. President Obama is accelerating that course.
What does this mean for the average taxpayer?
Before the recession, federal spending totaled $24,000 per U.S. household. Obama’s budget would increase it to $32,000 per household by 2019—an inflation-adjusted $8,000-per-household expansion of government. And while your taxes will be raised to pay for it, no livable level of taxation would be able to pay for this increase in spending.
http://www.askheritage.org/Issues.aspx?ID=260
COMPROMISED ADMINISTRATION:
Summers Earned Millions in D.E. Shaw Salary, Bank Speech Fees
By Timothy J. Burger and Kristin Jensen
April 4 (Bloomberg) -- Lawrence Summers, director of President Barack Obama’s National Economic Council, earned millions working at a hedge fund and speaking to banks such as Citigroup Inc. that later received taxpayer bailout money....
The disclosure statement for Summers and several other top administration officials illustrates the quandary Obama and his predecessors have faced in their personnel decisions because “powerful people are almost always also rich people” who have earned money from private interests, said Steffen Schmidt, a political science professor at Iowa State University in Ames, Iowa.
Obama’s “choice going forward is to choose unknowns of modest means who may be less controversial in terms of their connections,” Schmidt said. “Except those people would be far less knowledgeable and thus less of an asset to fix these very same urgent problems.” ...
Other Officials
The White House also released the personal financial disclosure forms of other top White House officials yesterday.
White House Chief of Staff Rahm Emanuel’s form listed a holding of less than $1,000 in shares of American International Group Inc., the insurer that has taken $182.5 billion in taxpayer funds to avoid financial collapse. The White House said Emanuel doesn’t currently own shares in the company...
http://www.bloomberg.com/apps/news?pid=20601087&sid=a4iGjejJVRko&refer=home
WHAT TO DO:
Beware the fury of enraged citizens
Posted 4/03/2009 01:00:00 PM
© 2009 by Michael Swickard, Ph.D.
It is hard for our local, state and national leaders to understand the fury of enraged citizens. A local politician was startled when I said, “Go against the wishes of the people at your own political risk.” We were discussing the introduction of “red-light cameras” to our city. I predicted that if they were adopted in this faltering economy, no one voting for these cameras would ever be re-elected. ...
http://haussamen.blogspot.com/
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