The Obamas on dueling covers for Essence Magazine
••
First, I am patting myself on the back for coming back!
Next, the economy will become worse before it gets better. Those holding onto their jobs are doing so with the "what is next" syndrome. Those looking for a job, it is hard as hell. Those on the unemployment take are hoping for many extensions. Those with money are not spending so easily, as before. And the banks are still not lending to ease the credit crunch out on Main Street.
The economic recession will get significantly worse before it starts to improve, President-elect Barack Obama said, seeking in an interview broadcast Sunday to tamp down expectations as he prepares to assume the presidency in 44 days.
“If you look at the unemployment numbers ... the fragility of the financial system and the fact that it’s an international system,” the recession “is a big problem, and it’s going to get worse,” Obama told NBC News’ Tom Brokaw on Saturday. The interview aired Sunday on NBC’s “Meet the Press.”
Many Americans, moi included, were not happy to bail out Wall Street. Call it what you may, these are greedy "you know whats" that got free money. Yes, free money. Congress only gave Paulson (that is Hank Paulson the weakest Treasury Secretary evah) half of the TARP money that was requested and Paulson did spread it around to the flailing banks, only to have these institutions to sit on the money. This now makes Dodd, Frank from congress to not dish out the other half. Can we ask congress WTF is on their minds to give out money on this caliber and not ask for strenuous oversight? Can I type merry-go-round? Oh, Bush Administration is not too happy about this, either.
Barack Obama's transition team is resisting Bush administration overtures to coordinate more on the financial-sector rescue, convinced that neither the lame-duck President George W. Bush nor the president-elect has the clout to win a smooth congressional release of more bailout funds.
With the first $350 billion of the bailout money nearly allocated, transition aides are pressing Treasury officials to convene a bipartisan meeting on Capitol Hill this week. Obama aides say the Treasury needs to sound out congressional leaders and rank-and-file lawmakers on what information they need to release the second, $350 billion tranche from the government's Troubled Asset Relief Program, or TARP.
While the bickering continues on the 350B TARP money, the auto industry is tanking and I mean it is going downhill so fast, my car cannot keep up!! The stench of the industry still is in the air for many Americans. We remember, or I was reminded by my mother, that the auto industry had gotten a bailout before in the late 70s or early 80s. This is when gas was not available anywhere and the cars or "gas guzzlers" were not worth the price tag at the dealership. I am sorry, but those issues with the auto industry are the same issues we are facing today. The sad part about it is that the automotive industry has been moving like turtles to fix it. This means that one of these giants will probably close their doors permanently. The industry will not get the 25B it is asking, but 15B with strict restructuring. The government could own a piece of the automotive industry, if this goes through, as we own a piece of these banks.
Sure this is not good for many auto workers, but again, what industry is next for a bailout? The American Public has not gotten any help or bailout from congress and this current administration is probably not likely to do anything with the door opening wider for Bush and Co. to leave. By the way, Obama agrees with congress asking for restructuring of the auto industry before any "checks" are disbursed. And the American Public is not for an auto industry bailout.
Lastly, these unemployment numbers should worry many out here. As long as folks are losing jobs, this means no health insurance, unable to pay bills, foreclosures will continue, car repossession is spiking, many restaurants are closing since many don't have that "extra" money, and retailers are in the toilet. In fact a shock was told to me that Bally's Fitness is in bankruptcy. What does this mean? That even a monthly fitness bill is too costly for many in this country. That is deep, not a shock, but deep in reality.
As many Americans are trying to hold on, the last thing folks want to hear is "Have a Holly, Jolly Christmas This Year". Yeah, it would be all that if many had a JOB.
Next bailout, retail giants? Are we going down that dark road? I hope not.
••
Obama Weekly Address, December 6, 2008
••
The Supreme Court says "NO" to Obama Citizenship Case
This was a bogus case. Straight up. Read about it, here.
••
and....................
General Eric Shinseki, Veterans Affairs Secretary Designate
Michelle Obama's Effortless Style
Caroline Kennedy for Clinton's Senate Seat
Obama wants broadband part of stimulus package
Obama ordering new tuxedo in 15 years
Obama meeting Gore, with Biden in Chicago tomorrow
Hillary and Condi having dinner
Jesse Jackson, Jr. still stumping for Obama's senate seat
Congressman William "Hiding 100K in the Freezer" Jefferson (D-LA) was finally defeated, first Vietnamese going to congress, yes a Republican
Who is dressing Michelle for inauguration night?
The Obama Brand
••
So, now it is uncertain future for Democrats? The continual drivel of the MSM.
Home Page
Share
