Obama's new economic recovery proposal...

Is frankly a bunch of smelly cow refuse. According to this Associated Press story--"Obama offers new proposals to help economy" by Christopher Wills of the AP--Obama, speaking before 3,000 people in Toledo, OH, thinks he has the solution to the current financial woes.

What has he in mind? Obama says that his plan includes a 90-day moratorium on home foreclosures, a two-year tax break for businesses that create new jobs...and another proposal, that, frankly, is about as dangerous to the future financial health of Americans as it gets:

http://hosted.ap.org/dynamic/stories/O/OBAMA?SITE=TXDAM&SECTION=HOME&TEMPLATE=DEFAULT

Obama also proposed allowing people to withdraw up to $10,000 from their retirement accounts without any penalty this year and next.

This plan with an estimated $60 billion price tag (Yes, "billion". With a "b".) over two years, according to Obama, would not take long to enact at all should he get elected:

[This plan]can be enacted quickly, either through the government's regulatory powers or legislation that Congress could pass in a special session...

"I'm proposing a number of steps that we should take immediately to stabilize our financial system, provide relief to families and communities and help struggling homeowners," Obama told a crowd of 3,000. "It's a plan that begins with one word that's on everyone's mind, and it's spelled J-O-B-S."

Take a look at what this bozo (no offense to Bozo the Clown) is proposing:

A delay in foreclosures. NOT preventing them! That will hurt the lenders (although they do deserve a lot more for their financial shenanigans for profit), but in the end, people will lose their homes anyway more often than not since they will NOT be able to qualify for and/or meet the terms and conditions for any restructured loan;

Tax breaks for businesses. Never works. Sure they will take the money, but any jobs that get provided (with the wages offered subsidized by the government) will almost certainly be bottom-rung ones with NO benefits and a lousy salary.

Because that's the type of jobs that the target market--lower-income people with poor education and few skills--qualify for.

Or the jobs will be for those who DO have the skills and education or can get them easily. Yes, we need those jobs, so it should not tax a tax break--a form of subsidy to the employer-- to create them!

And guess what happens to those jobs once the tax breaks end? I am sure Raj and his buddies appreciate the new jobs they will soon get in places like Bangalore, India...and Americans who thought they had secure employment...well...

Never mind telling people they will be allowed to dip into the very funds they need for retirement! Yes, there will be no penalty...right now. The penalty will come late when the person retires, never mind the loss of interest and dividend income (which would add to the available retirement funding) that can NEVER be made up, even if the principal is replenished.

In other words, the "time value of money" and "compounding" are concepts that Obama and his ilk do not seem to ever have bothered to learn about, have they?

Note how he proposes to get this plan through:

He will either cost the American people more by calling for a special session of Congress (risky enough) or this blooming idiot will get what he wants via. Government fiat, in the form of regulation!! Not changes in the law, but imposed Government rules via. the appropriate agencies.

That means no recourse for those negatively affected and no limits that a simple "That was yesterday. Today's orders are..." cannot overcome.

Ooooooooh Rottie...... I think you just made Rob's head explode....... For some strange reason Chrissy and I have not been able to convert him to a Palin errrrrrr McCain follower...... He WAS there but now he's backed out...... And just you wait til I send this link to "Kitten" the fur is gonna fly LOL!

In a nutshell...... I dislike em both...... I'm voting for McCain BECAUSE of Palin...... I really like the woman... & as most of you know I normally can't STAND women.... (present company excluded)

I don't care what the Commie News Network says..... I honestly can't stand watching the news anymore....... Fox.Com and Reuters..... that's about all I can deal with......

The ONLY thing I like about Obama is that he smokes..... ...... But I think he's a coward because he hides it.....

Gawd FORBID someone light up a cigarette in public

Great, I'm surrounded by a bunch of conservative women.

Feel free to private message me your phone numbers and I'll fix that problem.

And THAT ladies and gentleman is the new pick up line of the year........

Who is gonna hold my hair while I go throw up?

Rottie.... forgive him....... pimp daddy can't help himself.... When he & Chrissy were here a few weeks ago I swear to gawd he collected and gave out his number 20+ times..... It's a man *thang*

He's totally harmless in person...... He's just a male