President Barack Obama confirms Osama bin Laden is DEAD. (Video)

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President Obama's Speech on Debt Reduction (Video, Transcript)

Today, President Obama gave a speech at the George Washington University and laid out his plan for a balanced approach to achieve $4 trillion in deficit reduction over twelve years, based on the values of shared responsibility and shared prosperity. The President’s approach borrows from the Bipartisan Fiscal Commission and builds on $1 trillion in deficit reductions in the President’s 2012 budget.

This was a good speech. President Obama reiterated that he will not extend the Bush/Obama Rich Folk Tax Cut. For me, we heard him say this and he ended up extending these tax cuts for the ricn in December. But he may have more leverage going into the 2012 Presidential Election, if the White House stay on top of the MESSAGE to the public. (along with Congressional Democrats) Lastly, this was a speech in which another commission is being put together to actual cut into budgets, programs. Devil is in the details and we will see how much the Defense Budget, Medicare/Medicaid and possibly Social Security will be cut.

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Sorry but call me selfish, POTUS....

Sorry but call me selfish, POTUS....

President Obama's Explanation of why we are attacking Libya (Video, Transcript)

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OMG!!! Obama Administration pushing for a deal to settle home foreclosure claims

Glory, Hallelujah!!!

I am speechless!! This is great!!!

Well, until you really read the information a big thud comes upon you. As in, business as usual, as in no accountability but all deniability by banks, as in wrap this up because it can become a sore thumb in any re-election bid.

But, I was excited for a hot minute!! Now, not shocked at this deal, it is what we have witnessed the past 2-1/2 years from the Obama Administration.


The premise of this deal sounds solid, good but as you read it, if you were one of these homeowners is this good enough?

The bottomline is this:

Described as a "shock and awe" approach, the deal would accomplish the four goals set out by state and federal policy makers and regulators as part of their multi-agency investigations into abusive mortgage practices by the nation's largest financial firms: punish banks for violations of state law and federal regulations; provide much-needed assistance to distressed borrowers; stabilize a deteriorating housing market; and dissuade firms from abusing homeowners in the future.

The modified mortgages could cost the five financial behemoths -- Bank of America, JPMorgan Chase, Citigroup, Wells Fargo and Ally Financial -- as much as $30 billion, according to sources. Combined, the five firms handle three out of every five home loans, according to newsletter and data provider Inside Mortgage Finance.

It also could lead to reduced mortgage payments or lowered loan balances for nearly two-thirds of the 4.7 million delinquent homeowners who have yet to fall into foreclosure, according to data provider Lender Processing Services.

Forget those who have lost their homes due to malfeasance, fraud, trickery and theft by these financial institutions. Your loss will remain ignored, not recognized and part of collateral damage in the art of "CYA", Washington, D.C. style. Sorry, but that is what is going to happen.

What this deal WILL DO is to help homeowners who are delinquent modify their mortgages, forgive the principle and any balances on second mortgages/home equity loans will be written down or possibly eliminated.

All of this has to be ok'd by the federal government/agencies, banks, financial institutions, along with the states. Why the states? Well, many states have started legal processes against many of these financial institutions on behalf of their constituents.

In the meantime, the financial institutions, along with the federal government want this over and done with. Why? Well, the public dislike and mistrust of banks is clear, especially since these thieving robber barons was directly responsible for the fall of this country's economy. This the public understands VERY WELL. For the Obama Administration, they want this continuing talking point OFF THE TABLE. Their position will be, "see we have held the banks accountable and are helping millions of Americans to restructure their loans in a fair and timely manner." Not having this deal will continue to be a black eye to the Obama Administration, as they will be perceived as doing nothing and "In Like Flynn" with the banks. Remember, the public don't like the banks.

Meanwhile, banks, while eager to put the controversies over wrongful home repossessions and "robo-signing" behind them, do not want to be the only firms that pay for what could be a mass mortgage principal forgiveness scheme. They want government-owned mortgage giants Fannie Mae and Freddie Mac, which own or guarantee more than half of all home loans, to participate in any initiative that calls for lowering homeowners' loan balances. Fannie and Freddie's regulator has been reluctant to allow them to participate, citing his responsibility of minimizing the cost of the bailout to taxpayers, people involved in the talks said.

The Obama administration wants a quick resolution to the probes, and is putting pressure on the small group of state attorneys general leading their investigation to wrap it up, sources said. On Tuesday, Treasury Secretary Timothy Geithner told a Senate committee that "all parties have a stake in bringing this to resolution as quickly as possible."

"It's very important that we try to bring this to bed as quickly as we can," Geithner told the Senate Banking Committee.

If all goes well, this could go over well with the voters, maybe. But for those wanting an investigation from this Administration, IT AIN'T HAPPENIN'.....

Investors, homeowner advocates and law enforcement officials hoping for a deep investigation into allegedly widespread mortgage abuses by the nation's largest financial firms may ultimately be disappointed.

Lastly, the banks are still in charge where D.C. is concerned. They definitely will not sign any agreement with new rules and procedures attached, nor will they pay any new penalty fees that will not clear their name (I am not kidding about this).

But the banks won't sign any agreement that forces them to abide by new rules and pay substantial penalties that doesn't clear them of liability or at least significantly lessen the chance of a state-brought lawsuit, sources familiar with their position said.

In fact, the banks are crafting their own proposal. Did we think this would not happen?

In the long run, the Obama Administration must show that they have done something in regards to the financial institutions because this continues to be an anger point with voters out here. The banks don't want a full investigation and all their dirty laundry out for us to sniff and become even angrier, especially since that dirt will be legal documents with legal signatures, with financial executives still bringing in billions and no accountability like "hand cuffs" on these crooks. Oh, no, don't expect that to happen.

This is about the best that will come of a preliminary deal and I mean preliminary because as we know, deals change, whether we like it or not. This will be a public slap to the banks, while the banks will continue business as usual, which in the end is a sad state of affairs for government working and not protecting the public. The government does not work for the people, they work for the status quo and we all know who they are.

Elizabeth Warren says it the best about this mortgage mess:

“If there had been a cop on the beat with the authority to hold mortgage servicers accountable a half dozen years ago, if there had been a consumer agency in place, the problems in mortgage servicing would have been exposed early and fixed while they were still small, long before they became a national scandal,” Warren said in testimony before a House Financial Services subcommittee. She is point person for setting up the new Consumer Financial Protection Bureau.

If the Financial Regulation Bill had real teeth in it, we would have started to see real change. But, again, the status quo always win.

Cross-posted @ Daily Kos

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This is what happens when you DON'T VOTE

Wisconsin is learning it the HARD WAY.

People in Wisconsin are now waking up to having their rights for collective bargaining, STRIPPED AWAY, for good. When we know that collective bargaining in this instance does not have anything to do with Wisconsin's budget. NOTHING.

If anyone does not believe this is the whole intention of the GOP/Republicans, then think again. After listening to the prankster posing as billionaire David Koch, while speaking to Governor Walker of Wisconsin, all you needed to know was right there to hear.

America, it is past time that you WOKE UP.

I never understood Americans voting against their financial interests, by voting Republican. Never did. And now there is hope that many are waking up to the reality of what the Republicans in this country is trying to do.

The Republicans have been very successful in busting unions in the South; they have virtually SHUT THEM DOWN AND OUT. Now this same hard ball task is being assaulted on the Midwest, but it won't work.

I am from Illinois and know all these Midwestern states; many people have prospered to become middle class primarily because of the Unions and collective bargaining. This is how health care became available, pensions, college funds for your children. It is because of the UNIONS.

And I will go even further, back in "da day" when folks were KILLED by the robber barons because they demanded more in pay, weekends off, holidays off, etc., this happened on the backs of millions of Americans who came together to FIGHT for their rights from the greedy ass corporations in this country. That time is no different from now in the sense that many Americans feel a "sense of urgency now" by watching what is happening in Wisconsin and spreading over the Midwest.

If the people of Wisconsin lose this battle, this will open up a can of worms that will rapidly charge ahead across this country. And don’t be fooled on what the Republicans will attempt next, if successful, I see minimum wage war on their table. Don't think the Republicans won't try it; they have been haggling at the minimum wage for YEARS. While millions of Americans know it is very difficult to survive on $7.25/hour. But if the Republicans are allowed to continue in this fashion, who is to say that your employer can not come to you one day and say, "We have to reduce your salary/pay due to 'whatever fucking excuse'” they are allowed to find. Think it won't happen if Governor Walker in Wisconsin is successful, think again. Every government program available to help millions of Americans will be stripped for good, because it is all about the deficit, when we know this is a bald face lie. It can happen if this precedent is allowed to go forward.

The Republicans don't give a damn about the American Public. They answer to the big corporations in this country, period. And now Wisconsin is experiencing the wrath of big corporate influence right now. The battle lines have been drawn and Wisconsin must win or we will start to see the rapid demise of unions in this country.

Lastly, Wisconsin this is what happens when you don't vote and don't know who you are voting for. Scott Walker's bullshit has been out there for some time, but when you are asleep and don't know what hit you when you woke up, it can truly be too late to do anything about it. Let us hope that this is a LASTING wake up call for everyone because if we can not wake up, it really will be too late for us all.

Cross-posted @ Daily Kos

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President Obama's State of the Union Address, January 25, 2011 (Video)

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President Obama's Speech at the Memorial for Tuscon, Arizona victims (Video)

Sarah Palin will never become President of the United States, after her whiny, all about ME statement today, she has been extremely diminished. And the woman does not KNOW ANYTHING, she is ignorant.

Tonight we saw leadership.

Visit msnbc.com for breaking news, world news, and news about the economy

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President Obama signs the bill to repeal "Don't Ask Don't Tell" (Video)

Today was a good day.

Visit msnbc.com for breaking news, world news, and news about the economy

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Trotting out former President Bill Clinton

First, I don't remember a former President taking the podium answering questions for the current President, while the current President is in a fight for a bill to be passed.

Yes, we call former Presidents to swing bats (due to popularity) during campaign swings, but to have a former President answer questions (which I say he did mighty well) to the White House Press Corps while the current President is in a current fight he is having?

I am sorry, that I have not witnessed.

Look, Bill Clinton is loved and hated within the Democratic Party. We understand his strengths and weaknesses. I am sure that some of the legislation (which Obama is now dealing with due to bills passed during the Clinton tenure) that Bill Clinton passed, he wish could take it back. Like, NAFTA, which has had a direct affect of jobs for the middle class in this country. Sure, he would probably want to take that back.

The reality is this. It was a nice picture, mini presser but Bill Clinton is not the President of the United States, Barack Obama is.

My husband said this, "...why is Bill Clinton answering questions to the current tax crisis/debate and Barack Obama is not? I think this makes Obama look weak. And this is 2010 and not 1994."

I thought about that and my husband was right. This is not 1994. Why? First off, the cable networks and cable chatter was not off the chain as it is now. The internet was not instant news as it is now, which many Americans, NOW get their information. And the big key my husband stated, "...the recession Clinton was in is different than what is going on now."

Clinton was retrieved because of the Internet boom that happened under his watch. But that bubble was busted once George W. Bush assumed office. The unemployment numbers that we see now are real, not a vapor. The people out of work are/have been for a while now, well over 6 months. And the truth, there are not enough hard jobs to hire folk in this country. That is the dilemma that Barack Obama faces. There will be no fake economy to save him, like it did with Clinton in the internet boom. What is happening out here is real.

So now, we see the Clinton/Obama show. It is nice, memory lane and all, but that is all it is.

All I can write is this. Barack Obama must be in real trouble to trot out Bill Clinton at this time. No disrespect to the former President, but one has to wonder why at this time and will it work. Will the Democratic base remember how Bill Clinton lost big time in 1994 and had to deal with the Republicans? Will the Democrats line up with Barack Obama and let all this pass? But, will the Independents come home as Barack go to the right? Those are the questions which we will see answered in the months to come.

Personally, I don't think Bill Clinton will make a difference. He was then and Barack Obama is now. That is the difference.

Cross-posted @ Daily Kos

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President Obama trots out former President Bill Clinton to make case for tax cut deal with the Republicans (Video)

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Did tax cuts for the rich create jobs in this country?

This is a fair and direct question.

The reason I am asking it is because the negotiated tax plan from the White House with the Republicans touts it will create jobs.

My thing is this, "The millionaires and billionaires have had this tax cut for 10 years, where are the jobs?"

This is a valid question because does anyone believe that continuing this tax cut will create jobs in this country?

We are knocking on the door of 10% unemployment in this country and I don't see any relief of these numbers, anytime soon. In fact, we need to create over 200K jobs a MONTH to catch up with inflation and the unemployment rate to off set it and we are talking about 200K a month for close to 2 years.

Look, the reality is this; all of this is a set up to marginalize President Obama further, along with the Democrats. If you don't believe it, watch the ratcheting up for the next year from the GOP. Watch about the continued lack of leadership, weakness from this president meme. And the GOP has been stating this about him WAYYYY before Democrats got frustrated and started saying this publicly.

This dog and pony show will continue, it will not slow down or stop. Every time President Obama wants something, he will be forced to cave to the Republican agenda. Pushing these rich folk tax cuts is just kicking the can down the road and empowering, proving the point to the Republicans. The Republicans believe they can defeat Obama in 2012, control the congress again, and make these tax cuts permanent. The Republicans don't believe this economy will turn around anytime soon, the fact of the matter is that we don't have enough jobs to employ folk in this country.

The next act from the Republicans will be the call to PAY FOR THIS SHIT. And guess what they will trot out? Social Security and Medicare cuts. The GOP will continue to whine that these programs will bankrupt this country and must be overhauled. Along with this disastrous meme, will be the reminder to President Obama that he is for "Pay Go". Remember, words do matter and he did say he supported it. This will put President Obama in another box. And you think folks are angry at rich folk tax cuts, watch your Grandmother go off when she witness President Obama state, "..cuts in payment to social security must be done to save this country."

It will be a sham.

Why a sham? Because the Republican Party is the party of spend, spend, and spend. They spent us into the ground under George W. Bush, but spent the money on what they felt is best for themselves and their rich buddies. That is how it went down. When the Democrats came in power, we get shamed on the deficit and it must be under control, programs must be cut. This bullshit is the biggest sham of all because we are spending fake money now to pass this tax cut and if the deficit was so damn important, WE WOULD NOT BE TALKING ABOUT THIS. Personally, I don't know if this tax cut deal will pass or not. But I do know that President Obama will become a mockery if it does.

Finally, from TomP's diary a comment from lisastar:

caller on Ed's show yesterday (7+ / 0-)

an international flight attendant reporting on what she overhears from US CEOs on her flights. It's all about opening new factories overseas and buying second homes in the 3rd world country of choice to make it easier to commute.

Another caller in the import business said: Trickle down economics works great to create jobs - JOBS OVERSEAS. The wealthy are investing alright, just not in America.

Screw the president's bill.

That is the real point here (and I heard the same caller on Ed's radio show). Until any President have the fortitude to revamp trade agreements to China, India, Brazil, etc. This argument will continue to go in circles. This country is feeling the affects of a poor NAFTA agreement and bad trade agreements resulting in CEO's of this country opening up their manufacturing plants abroad to the tune of 1.00 an hour for personnel with no benefits. This country can not compete with that and to be brutally honest, it won't change. President Obama can say whatever he wants, but the real banker that we owe is China and those floodgates of their bad gear, food is not going to stop coming into this country anytime soon.

That is the dilemma about jobs in this country and why we will be sitting on high unemployment for a very long time. Tax cuts to the rich are not going to create any jobs and if you believe that, then a cup of reality is much needed.

Cross-posted @ Daily Kos

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Keith Olbermann's Special Comment destroys Barack Obama's argument for the Bush Tax Cuts (Video)

Barack Obama, we believed in "Change You Believe In", now if you want to keep your job, you are the one who needs to change.

Cross-posted @ Daily Kos

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President Obama's Press Conference on extending the Bush Tax Cuts (Video)

Well, many are angry at the President for doing this, another broken campaign promise. Oh, and how are we going to pay for this one, since the initial one was never paid for. Next cut, WATCH, Social Security.



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King of Flip-Flops: Barack Obama

First, there was this and that secret deal the White House tried to deny with BIG PHaRMA:



Then, Senator Obama who was campaigning for President of the United States insisted that he does not support any mandates, but caved to the insurance companies that every American must purchase health care insurance. Meaning, giving the insurance companies up to or over 30 million new customers. Some change you can believe in!!

Though in 2008 then-Senator Barack Obama campaigned against requiring adults to buy insurance,[13] in July 2009 President Obama reportedly "changed his mind" and announced that he was "now in favor of some sort of individual mandate as long as there's a hardship exemption."[14] Supporting an individual mandate, Obama said, "I've been persuaded that there are enough young, uninsured people who are cheap to cover, but are opting out. To make sure that those folks are part of the overall pool is the best way to make sure that all of our premiums go down."[15] However, the Congressional Budget Office found that the effect of broadening insurance coverage "would probably be relatively small and would not directly produce net savings in national or federal spending on health care."[16]

Now the main premise of his campaign was repealing the Bush Tax Cuts. In fact, President Obama explained repeatedly that these tax cuts were never paid for and is part of the problem of the deficit. Informing the public that this money will be used for other programs and to help reduce the deficit. Well, the biggest flip/flop of all extending these rich folk tax cuts, along with reducing the estate tax for some of the most richest estates in this country. My question is always this, "there are more poor folk, middle class folk than rich folk..." That is a fact.

Now, the problem with the Obama White House is that they are incompetent when it comes to playing hardball and defending their policies. We saw this through the health care fiasco, financial regulation debate and now these tax cuts. President Obama's first duty should have been working on this economy, which includes getting ready to fight for the repealing of the Bush Tax Cuts and having ready his own tax cut plan. Unemployment Extension should never have been out there for the Republicans to hijack to get what they want. An up and down vote should have come out of congress for JUST EXTENDING UNEMPLOYMENT, a recorded vote for the public to view. The public would have been on the side of continuing the extension, with no games being played. Pressure could mount on incoming House members from the most hard hit states, Michigan, Pennsylvania, Ohio to vote to keep the UI extensions going. This is not hard, but the dysfunctional Democrats in D.C. continues to let it be dysfunctional.

Now, Barack Obama can continue to be thin skinned and have selective memory on much of what he said, but the American Public remembers. The public is not stupid, does anyone think Barack Obama will fight to repeal the Bush Tax Cuts in 2012? After we just saw this flip-flop show from him? He has just allowed the can to be kicked further down the road and the longer it is kicked the more reality that these tax cuts will become permanent.

Lastly, I don't care if the President is angry at members in his own party, he has another issue to deal with. TRUST. You need all those people that brought you to the dance to become re-energized in 2012, right now many are losing trust in anything that you say. When you lose trust it is very hard to get it back. Remember that President Obama, while you are getting upset at the word, "public option".

Cross-posted @ Daily Kos

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President Obama announces deal cut with Republicans to extend Bush Tax Cuts (Video)

A bad move, POTUS.



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