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Romney certainly has the background as far as the economy....

Posted By: sam on 2008-08-27
In Reply to: I'm hoping for Romney - NM

I kinda thought Obama was going to pick Biden, because Biden protested way too much...lol. But I really have NO idea where McCain is going. They have guarded it well.


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Obama and Romney
Can't believe Hilary is running, after all the Clintons already did in the White House, she should be in hiding, along with Bill and his new girlfriend.
I'm hoping for Romney
s
Romney is a phony, but at least not a lunatic. sm
McCain will bomb Iran the day after he takes office. There really is no difference in voting for either one - they will both assure the status quo, but I do not want McCain anywhere near a button for a bomb.
Interesting take on Romney's speech.

Does Romney’s America Include Non-Believers?



Does New York Times" href=http://www.nytimes.com/2007/12/07/opinion/07brooks.html?ex=1354683600&en=8a31b02ef8ccfd20&ei=5088&partner=rssnyt&emc=rss>David Brooks has a sober and thought-provoking take on Mitt Romney’s “Mormon speech,” simultaneously praising its intricate weaving of philosophy and worrying that his method of arguing for inclusion of Mormons in the political sphere was at the cost of excluding non-believers.



When this country was founded, James Madison envisioned a noisy public square with different religious denominations arguing, competing and balancing each other’s passions. But now the landscape of religious life has changed. Now its most prominent feature is the supposed war between the faithful and the faithless. Mitt Romney didn’t start this war, but speeches like his both exploit and solidify this divide in people’s minds. The supposed war between the faithful and the faithless has exacted casualties.


The first casualty is the national community. Romney described a community yesterday. Observant Catholics, Baptists, Methodists, Jews and Muslims are inside that community. The nonobservant are not. There was not even a perfunctory sentence showing respect for the nonreligious. I’m assuming that Romney left that out in order to generate howls of outrage in the liberal press.


The second casualty of the faith war is theology itself. In rallying the armies of faith against their supposed enemies, Romney waved away any theological distinctions among them with the brush of his hand. In this calculus, the faithful become a tribe, marked by ethnic pride, a shared sense of victimization and all the other markers of identity politics.


In Romney’s account, faith ends up as wishy-washy as the most New Age-y secularism. In arguing that the faithful are brothers in a common struggle, Romney insisted that all religions share an equal devotion to all good things. Really? Then why not choose the one with the prettiest buildings?


Indeed. The problem with the secularization of religion is that it winds up being insufficiently secular and insufficiently religious.


Brooks is also right that non-believers are more excluded from our process than even aggrieved religious groups like Mormons and Muslims. As noted here months ago, an atheist would have a much harder time getting elected president than a homosexual, black, or Hispanic — let alone a Mormon.


Memeorandum rounds up the blogger reactions to Brooks’ column. Most, like Ron Beasley, seem to agree with Brooks.


An exception is Red Stater Hunter Baker (who doesn’t appear to have read Brooks’ column) takes the opposite view, though: “The United States has traditionally been a nation that recognizes freedom must be paired with religion and morality if it is to persevere in political society. Mitt said it. Libertarians need to hear it. So do secularists.”


While there’s not much question that the Protestant Reformation played a role in the rise of democratic governance in the West, it’s far from clear that religion is necessary for freedom. Indeed, it’s difficult to think of a free theocracy.


The Washington Post weighing in on the question this morning with an editorial entitled, “No Freedom Without Religion? There’s a gap in Mitt Romney’s admirable call for tolerance.”



Where Mr. Romney most fell short, though, was in his failure to recognize that America is composed of citizens not only of different faiths but of no faith at all and that the genius of America is to treat them all with equal dignity. “Freedom requires religion, just as religion requires freedom,” Mr. Romney said. But societies can be both secular and free. The magnificent cathedrals of Europe may be empty, as Mr. Romney said, but the democracies of Europe are thriving.


“Americans acknowledge that liberty is a gift of God, not an indulgence of government,” Mr. Romney said. But not all Americans acknowledge that, and those who do not may be no less committed to the liberty that is the American ideal.


The estimable John O’Sullivan, though, thinks Brooks and others are reading something into Romney’s message that was not there.



The religious liberty celebrated by Romney plainly entails the liberty to be non-religious. What Romney is opposing in those sections of the speech that seem to concern the culture wars is an obligation to be non-religious in the public square.


David’s arguments seems to be that if religious people were to unite against secularists to fight the their joint battles more effectively in the culture war, that would be an aggressive, divisive, and regrettable act. But that argument itself rests on the unstated assumption that the culture wars would stop if religious people stopped fighting them. In fact the culture wars began because the Left employed the courts to change America on everything from abortion to school prayer to gay marriage. This has not stopped. The obligation to be non-religious in the public square, though a very recent invention of liberal philosophers, is treated seriously in legal arguments and court decisions today.


So why shouldn’t religious people, while affirming the right to be non-religious, organize to defend their joint beliefs and interests in the way deplored by David?


No reason at all, of course. Indeed, while I would prefer that public policy decisions be decided on purely secular grounds, religious convictions are ultimately no less legitimate motivation for policy preferences that economic interest, party loyalty, or “we’ve always done it this way.”


It seems inevitable, though, that the overwhelming majority who are religious will mount their fight to protect their cultural values (even those shared by many secularists) on Us vs. Them grounds.


Further, as Eric Klee reports, Romney is thus far refusing to distance himself from the Brooksean interpretation.



A spokesman for the Mitt Romney campaign is thus far refusing to say whether Romney sees any positive role in America for atheists and other non-believers, after Election Central inquired about the topic yesterday.


It’s a sign that Romney may be seeking to submerge evangelical distaste for Mormonism by uniting the two groups together in a wider culture war. Romney’s speech has come under some criticism, even from conservatives like David Brooks and Ramesh Ponnuru, for positively mentioning many prominent religions but failing to include anything positive about atheists and agnostics.


Indeed, the only mentions of non-believers were very much negative. “It is as if they’re intent on establishing a new religion in America – the religion of secularism. They’re wrong,” Romney said, being met by applause from the audience.


Romney’s strategy, if indeed it was intentional, is a politically sound one. The numbers favor pandering to the religious to the exclusion of non-believers; that’s especially so in the Republican primaries. It’s not the way to national unity but that’s generally well behind winning votes in a politician’s calculus.


Romney is not running, Biden is...
and he was talking about the guy he is running with. Nice attempt at dodging.

As for Kilkenny...she is a Dem with a bone to pick, i.e., "She has hated me since 1992." lol. On Wiki all she said was "there was some talk about banning books but she never followed through with it."

So which is the lie and which is the truth?
How did he become a Senator then? Did no know look into his background then?
Supposedly he is being called a terrorist, Muslim and is involved with all of these organizations, so I do not understand why and how he has been allowed to serve our government???? Did no one care about all of this when he was elected?????
background check

No matter what their assigned security levels are, they ALL have to undergo a background check whether it be given by CIA/FBI, etc.


Romney is a joke, he tried meeting w/black folks
if you all had seen it - it was very_inappropriate..........showed us all he has little to no interaction with people of color.........isolationist in my mind..........
Wanna revist the Romney/McCain primary wars?
Then he was "honored" to share speeching spotlight with Cindy and SP at RNC. Did he lie? Which time? SP's ebay claim was presented to the entire nation as a feather in her fiscal responsibility cap. This flies in the face of information found on this most interesting link, authored by a Wasilla woman who has personally known SP since 1992. http://www.snopes.com/politics/soapbox/kilkenny.asp
but bring up Obama's questionable background, and
nm
Obama would not be able to pass the FBI background check...
due to his past associations, yet many want him to be president. Talk about blinders on. Sheeple, wake up and look at the man behind the curtain, he is NOT your friend.
I have the same feeling. I hear the background noise already nm
nm
WH Press Release & Background Sotomayor

FOR IMMEDIATE RELEASE


May 26, 2009


Family members of Judge Sotomayor in attendance at today’s East Room announcement:


Celina Sotomayor (mother)
Omar Lopez (stepfather)
Juan Sotomayor (brother)
Tracey Sotomayor (sister-in-law)
Kylie Sotomayor (niece)
Conner and Corey Sotomayor (nephews)


Judge Sonia Sotomayor


Sonia Sotomayor has served as a judge on the United States Court of Appeals for the Second Circuit since October 1998. She has been hailed as “one of the ablest federal judges currently sitting” for her thoughtful opinions,i and as “a role model of aspiration, discipline, commitment, intellectual prowess and integrity”ii for her ascent to the federal bench from an upbringing in a South Bronx housing project.


Her American story and three decade career in nearly every aspect of the law provide Judge Sotomayor with unique qualifications to be the next Supreme Court Justice. She is a distinguished graduate of two of America's leading universities. She has been a big-city prosecutor and a corporate litigator. Before she was promoted to the Second Circuit by President Clinton, she was appointed to the District Court for the Southern District of New York by President George H.W. Bush. She replaces Justice Souter as the only Justice with experience as a trial judge.


Judge Sotomayor served 11 years on the Court of Appeals for the Second Circuit, one of the most demanding circuits in the country, and has handed down decisions on a range of complex legal and constitutional issues. If confirmed, Sotomayor would bring more federal judicial experience to the Supreme Court than any justice in 100 years, and more overall judicial experience than anyone confirmed for the Court in the past 70 years. Judge Richard C. Wesley, a George W. Bush appointee to the Second Circuit, said “Sonia is an outstanding colleague with a keen legal mind. She brings a wealth of knowledge and hard work to all her endeavors on our court. It is both a pleasure and an honor to serve with her.”


In addition to her distinguished judicial service, Judge Sotomayor is a Lecturer at Columbia University Law School and was also an adjunct professor at New York University Law School until 2007.


An American Story


Judge Sonia Sotomayor has lived the American dream. Born to a Puerto Rican family, she grew up in a public housing project in the South Bronx. Her parents moved to New York during World War II – her mother served in the Women’s Auxiliary Corps during the war. Her father, a factory worker with a third-grade education, died when Sotomayor was nine years old. Her mother, a nurse, then raised Sotomayor and her younger brother, Juan, now a physician in Syracuse. After her father’s death, Sotomayor turned to books for solace, and it was her new found love of Nancy Drew that inspired a love of reading and learning, a path that ultimately led her to the law.


Most importantly, at an early age, her mother instilled in Sotomayor and her brother a belief in the power of education. Driven by an indefatigable work ethic, and rising to the challenge of managing a diagnosis of juvenile diabetes, Sotomayor excelled in school. Sotomayor graduated as valedictorian of her class at Blessed Sacrament and at Cardinal Spellman High School in New York. She first heard about the Ivy League from her high school debate coach, Ken Moy, who attended Princeton University, and she soon followed in his footsteps after winning a scholarship.


At Princeton, she continued to excel, graduating summa cum laude, and Phi Beta Kappa. She was a co-recipient of the M. Taylor Pyne Prize, the highest honor Princeton awards to an undergraduate. At Yale Law School, Judge Sotomayor served as an Editor of the Yale Law Journal and as managing editor of the Yale Studies in World Public Order. One of Sotomayor’s former Yale Law School classmates, Robert Klonoff (now Dean of Lewis & Clark Law School), remembers her intellectual toughness from law school: “She would stand up for herself and not be intimidated by anyone.” [Washington Post, 5/7/09]


A Champion of the Law


Over a distinguished career that spans three decades, Judge Sotomayor has worked at almost every level of our judicial system – yielding a depth of experience and a breadth of perspectives that will be invaluable – and is currently not represented -- on our highest court. New York City District Attorney Morgenthau recently praised Sotomayor as an “able champion of the law” who would be “highly qualified for any position in which wisdom, intelligence, collegiality and good character could be assets.” [Wall Street Journal, 5/9/09]


A Fearless and Effective Prosecutor


Fresh out of Yale Law School, Judge Sotomayor became an Assistant District Attorney in Manhattan in 1979, where she tried dozens of criminal cases over five years. Spending nearly every day in the court room, her prosecutorial work typically involved "street crimes," such as murders and robberies, as well as child abuse, police misconduct, and fraud cases. Robert Morgenthau, the person who hired Judge Sotomayor, has described her as a “fearless and effective prosecutor.” [Wall Street Journal, 5/9/09] She was cocounsel in the “Tarzan Murderer” case, which convicted a murderer to 67 and ½ years to life in prison, and was sole counsel in a multiple-defendant case involving a Manhattan housing project shooting between rival family groups.


A Corporate Litigator


She entered private practice in 1984, becoming a partner in 1988 at the firm Pavia and Harcourt. She was a general civil litigator involved in all facets of commercial work including, real estate, employment, banking, contracts, and agency law. In addition, her practice had a significant concentration in intellectual property law, including trademark, copyright and unfair competition issues. Her typical clients were significant corporations doing international business. The managing partner who hired her, George Pavia, remembers being instantly impressed with the young Sonia Sotomayor when he hired her in 1984, noting that “she was just ideal for us in terms of her background and training.” [Washington Post, May 7, 2009]


A Sharp and Fearless Trial Judge


Her judicial service began in October 1992 with her appointment to the United States District Court for the Southern District of New York by President George H.W. Bush. Still in her 30s, she was the youngest member of the court. From 1992 to 1998, she presided over roughly 450 cases. As a trial judge, she earned a reputation as a sharp and fearless jurist who does not let powerful interests bully her into departing from the rule of law. In 1995, for example, she issued an injunction against Major League Baseball owners, effectively ending a baseball strike that had become the longest work stoppage in professional sports history and had caused the cancellation of the World Series the previous fall. She was widely lauded for saving baseball. Claude Lewis of the Philadelphia Inquirer wrote that by saving the season, Judge Sotomayor joined “the ranks of Joe DiMaggio, Willie Mays, Jackie Robinson and Ted Williams.”


A Tough, Fair and Thoughtful Jurist


President Clinton appointed Judge Sotomayor to the U.S. Court of Appeals for the Second Circuit in 1998. She is the first Latina to serve on that court, and has participated in over 3000 panel decisions, authoring roughly 400 published opinions. Sitting on the Second Circuit, Judge Sotomayor has tackled a range of questions: from difficult issues of constitutional law, to complex procedural matters, to lawsuits involving complicated business organizations. In this context, Sotomayor is widely admired as a judge with a sophisticated grasp of legal doctrine. “’She appreciates the complexity of issues,’ said Stephen L. Carter, a Yale professor who teaches some of her opinions in his classes. Confronted with a tough case, Carter said, ‘she doesn’t leap at its throat but reasons to get to the bottom of issues.’” For example, in United States v. Quattrone, Judge Sotomayor concluded that the trial judge had erred by forbidding the release of jurors’ names to the press, concluding after carefully weighing the competing concerns that the trial judge’s concerns for a speedy and orderly trial must give way to the constitutional freedoms of speech and the press.


Sotomayor also has keen awareness of the law’s impact on everyday life. Active in oral arguments, she works tirelessly to probe both the factual details and the legal doctrines in the cases before her and to arrive at decisions that are faithful to both. She understands that upholding the rule of law means going beyond legal theory to ensure consistent, fair, common-sense application of the law to real-world facts. For example, In United States v. Reimer, Judge Sotomayor wrote an opinion revoking the US citizenship for a man charged with working for the Nazis in World War II Poland, guarding concentration camps and helping empty the Jewish ghettos. And in Lin v. Gonzales and a series of similar cases, she ordered renewed consideration of the asylum claims of Chinese women who experienced or were threatened with forced birth control, evincing in her opinions a keen awareness of those women’s plights.


Judge Sotomayor’s appreciation of the real-world implications of judicial rulings is paralleled by her sensible practicality in evaluating the actions of law enforcement officers. For example, in United States v. Falso, the defendant was convicted of possessing child pornography after FBI agents searched his home with a warrant. The warrant should not have been issued, but the agents did not know that, and Judge Sotomayor wrote for the court that the officers’ good faith justified using the evidence they found. Similarly in United States v. Santa, Judge Sotomayor ruled that when police search a suspect based on a mistaken belief that there is a valid arrest warrant out on him, evidence found during the search should not be suppressed. Ten years later, in Herring v. United States, the Supreme Court reached the same conclusion. In her 1997 confirmation hearing, Sotomayor spoke of her judicial philosophy, saying” I don’t believe we should bend the Constitution under any circumstance. It says what it says. We should do honor to it.” Her record on the Second Circuit holds true to that statement. For example, in Hankins v. Lyght, she argued in dissent that the federal government risks “an unconstitutional trespass” if it attempts to dictate to religious organizations who they can or cannot hire or dismiss as spiritual leaders. Since joining the Second Circuit, Sotomayor has honored the Constitution, the rule of law, and justice, often forging consensus and winning conservative colleagues to her point of view.


A Commitment to Community


Judge Sotomayor is deeply committed to her family, to her co-workers, and to her community. Judge Sotomayor is a doting aunt to her brother Juan’s three children and an attentive godmother to five more. She still speaks to her mother, who now lives in Florida, every day. At the courthouse, Judge Sotomayor helped found the collegiality committee to foster stronger personal relationships among members of the court. Seizing an opportunity to lead others on the path to success, she recruited judges to join her in inviting young women to the courthouse on Take Your Daughter to Work Day, and mentors young students from troubled neighborhoods Her favorite project, however, is the Development School for Youth program, which sponsors workshops for inner city high school students. Every semester, approximately 70 students attend 16 weekly workshops that are designed to teach them how to function in a work setting. The workshop leaders include investment bankers, corporate executives and Judge Sotomayor, who conducts a workshop on the law for 25 to 35 students. She uses as her vehicle the trial of Goldilocks and recruits six lawyers to help her. The students play various roles, including the parts of the prosecutor, the defense attorney, Goldilocks and the jurors, and in the process they get to experience openings, closings, direct and cross-examinations. In addition to the workshop experience, each student is offered a summer job by one of the corporate sponsors. The experience is rewarding for the lawyers and exciting for the students, commented Judge Sotomayor, as “it opens up possibilities that the students never dreamed of before.” [Federal Bar Council News, Sept./Oct./Nov. 2005, p.20] This is one of many ways that Judge Sotomayor gives back to her community and inspires young people to achieve their dreams.


She has served as a member of the Second Circuit Task Force on Gender, Racial and Ethnic Fairness in the Courts and was formerly on the Boards of Directors of the New York Mortgage Agency, the New York City Campaign Finance Board, and the Puerto Rican Legal Defense and Education Fund.


People with felonies cannot pass background checks...sm
Even a pending felony, never mind a conviction. So,how does he have a job? I say we give him the boot.
If he wouldn't pass a background check to work

for the FBI....how can we trust him to be our president?


The FBI will initiate an intensive background investigation that you must pass before you can join the FBI. The investigation includes a polygraph examination; a test for illegal drugs; credit and records checks; and extensive interviews with former and current colleagues, neighbors, friends, professors, etc.


Well....I don't know if him buying his property for way less than it was valued through the help of Rezko would disqualify him or his associations with a racist person like Rev. Wright.  Those two right there would disqualify him from employment with the FBI and those aren't the only two scary associations of Obama.  Or maybe how the Woods Fund donated money to Rasheed whatever the heck his name is.  The fact that he worked next to Ayers on an education committee.  Even if he lied about all of this stuff....which he does because his stories frequently change....the polygraph would surely take him down and prove him lying.


If checking the adoption records is part of the normal background check, then the only reason this i
x
Here's another one regarding the economy.

And you're right.  Some people do. 










The Joyless Economy
by Paul Krugman
The New York Times
December 5, 2005


Falling gasoline prices have led to some improvement in consumer confidence over the past few weeks. But the public remains deeply unhappy about the state of the economy. According to the latest Gallup poll, 63 percent of Americans rate the economy as only fair or poor, and by 58 to 36 percent people say economic conditions are getting worse, not better.

Yet by some measures, the economy is doing reasonably well. In particular, gross domestic product is rising at a pretty fast clip. So why aren't people pleased with the economy's performance?

Like everything these days, this is a political as well as factual question. The Bush administration seems genuinely puzzled that it isn't getting more credit for what it thinks is a booming economy. So let me be helpful here and explain what's going on.

I could point out that the economic numbers, especially the job numbers, aren't as good as the Bush people imagine. President Bush made an appearance in the Rose Garden to hail the latest jobs report, yet a gain of 215,000 jobs would have been considered nothing special - in fact, a bit subpar - during the Clinton years. And because the average workweek shrank a bit, the total number of hours worked actually fell last month.

But the main explanation for economic discontent is that it's hard to convince people that the economy is booming when they themselves have yet to see any benefits from the supposed boom. Over the last few years G.D.P. growth has been reasonably good, and corporate profits have soared. But that growth has failed to trickle down to most Americans.

Back in August the Census bureau released family income data for 2004. The report, which was overshadowed by Hurricane Katrina, showed a remarkable disconnect between overall economic growth and the economic fortunes of most American families.

It should have been a good year for American families: the economy grew 4.2 percent, its best performance since 1999. Yet most families actually lost economic ground. Real median household income - the income of households in the middle of the income distribution, adjusted for inflation - fell for the fifth year in a row. And one key source of economic insecurity got worse, as the number of Americans without health insurance continued to rise.

We don't have comparable data for 2005 yet, but it's pretty clear that the results will be similar. G.D.P. growth has remained solid, but most families are probably losing ground as their earnings fail to keep up with inflation.

Behind the disconnect between economic growth and family incomes lies the extremely lopsided nature of the economic recovery that officially began in late 2001. The growth in corporate profits has, as I said, been spectacular. Even after adjusting for inflation, profits have risen more than 50 percent since the last quarter of 2001. But real wage and salary income is up less than 7 percent.

There are some wealthy Americans who derive a large share of their income from dividends and capital gains on stocks, and therefore benefit more or less directly from soaring profits. But these people constitute a small minority. For everyone else the sluggish growth in wages is the real story. And much of the wage and salary growth that did take place happened at the high end, in the form of rising payments to executives and other elite employees. Average hourly earnings of nonsupervisory workers, adjusted for inflation, are lower now than when the recovery began.

So there you have it. Americans don't feel good about the economy because it hasn't been good for them. Never mind the G.D.P. numbers: most people are falling behind.

It's much harder to explain why. The disconnect between G.D.P. growth and the economic fortunes of most American families can't be dismissed as a normal occurrence. Wages and median family income often lag behind profits in the early stages of an economic expansion, but not this far behind, and not for so long. Nor, I should say, is there any easy way to place more than a small fraction of the blame on Bush administration policies. At this point the joylessness of the economic expansion for most Americans is a mystery.

What's clear, however, is that advisers who believe that Mr. Bush can repair his political standing by making speeches telling the public how well the economy is doing have misunderstood the situation. The problem isn't that people don't understand how good things are. It's that they know, from personal experience, that things really aren't that good.


The economy. It's not going anywhere
counting.
Economy going down is right.
work for, the largest transcription company in the US, is now paying us for ASR, 60% and others will get straight 4 cents a line. 
Actually, no, not the economy....(sm)
I was actually referring to Pelosi and her power grab, cutting off all GOP opposition, behind closed doors, that no one will ever hear about again, from the other day.

And did you catch Barney Frank today on the retroactive rules on the TARP?


http://www.newsmax.com/politics/tarp/2009/01/09/169663.html?utm_medium=RSS
What I am doing to help the economy

1.  I pray for this country and the president every day.


2.  I'm not constantly complaining about everything.


3.  I am not watching the DOW like it's American Idol.


4.  I’ve taken fiscal responsibility for me and my home.


5.  I give what I can to the food banks and my church etc. to help those who need help.


 


I did not vote for President Obama.  I do not think he is the messiah and I certainly will not blame him for the mess we are in right now simply because we all played a part.  No one forced anyone to take house loans that they could not pay, no one forces us to use our credit card and run up debts and live beyond our means, no one predicted that you would take a loan and then lose your job and be in foreclosure and no one regulated the banks like they should of.


 


Now that being said, in a crisis it is so easy to look for someone to blame, become angry, and forget who we are.  So my advice the next time you are at your kitchen table wondering how you are going to make ends meet, that you remember who you are, an American.  I would also advise getting some debt management help.


 


So please, instead of running around with your hands up in the air thinking the worst and claiming the sky is falling, try listening to the Star Spangled Banner or something that is positive.  I have found that this helps me a lot.


 


Now let us all take a good long look in the mirror, have a little faith in ourselves as a country and stop beating up on each other.  Have a good day everyone and God Bless America.


 


What I am doing to help the economy

1.  I pray for this country and the president every day.


2.  I'm not constantly complaining about everything.


3.  I am not watching the DOW like it's American Idol.


4.  I’ve taken fiscal responsibility for me and my home.


5.  I give what I can to the food banks and my church etc. to help those who need help.


 


I did not vote for President Obama.  I do not think he is the messiah and I certainly will not blame him for the mess we are in right now simply because we all played a part.  No one forced anyone to take house loans that they could not pay, no one forces us to use our credit card and run up debts and live beyond our means, no one predicted that you would take a loan and then lose your job and be in foreclosure and no one regulated the banks like they should of.


 


Now that being said, in a crisis it is so easy to look for someone to blame, become angry, and forget who we are.  So my advice the next time you are at your kitchen table wondering how you are going to make ends meet, that you remember who you are, an American.  I would also advise getting some debt management help.


 


So please, instead of running around with your hands up in the air thinking the worst and claiming the sky is falling, try listening to the Star Spangled Banner or something that is positive.  I have found that this helps me a lot.


 


Now let us all take a good long look in the mirror, have a little faith in ourselves as a country and stop beating up on each other.  Have a good day everyone and God Bless America.


 


Please take Economy 101
Your pathetic little woe-is-me mentality is the problem with the economy.

Wake up, eejit. The 'rich' people are the ones paying all the taxes. The runts at the bottom - you know - the ones so unintelligent or unmotivated to make it in the world - pay no taxes and suck all the money out of the country.

No country ever got anywhere by taking down the successful people and raising up the ingrates. In America, you can get rich if you want to. But you have to work for it. If you don't have the guts or the self-motivation, you get to live according to your own means.

Suck it up.
The Economy

The Economy - Not the President - is Tanking the Market


by:  Hale Stewart



One of the more ridiculous statements going around over the last few weeks is "this is an Obama bear market." This statement is, well, ill-informed at best and fraudulent at worst. Let's look at why.


First -- who is saying this? Such economic luminaries as John Hawkins at Right Wing News (who actually asked Is Obama Deliberately Tanking the Stock Market?), Powerline, Brit Hume along with a host of other right wing bloggers. What all of these people have in common is their incessant chearleading during the Bush years despite mounting evidence of an upcoming recession. There are the same people who argued that ... housing is a small part of the economy ... most people are paying their mortgages ... the US economy will decouple from the rest of the world .... it's the greatest story never told ..... you get the idea. Simply put, these are people who have distinguished themselves by being some of the best contrary indicators around.


Secondly, the SPYs -- the tracking ETF for the S&P 500 -- dropped from (roughly) 155 in the summer of 2007 to (roughly) 85 at the end of last year. Yet I don't remember any of them saying that was the Bush bear market -- even though that's a drop of roughly 43%. No -- it's the new President that's causing the problems. In addition, when Bush took office the SPYs dropped from roughly 130 at the begging of 2001 to 85 in the fourth quarter of 2002. Yet somehow I don't think any of them blamed Bush's policies for the drop. Then it was the "lasting effects of the Clinton recession" or something similar.


What all of these idiots are forgetting is the simple fact that the economy is the backdrop of the stock market. When the economy does well the stock market does well. When the economy doesn't do well, the stock market doesn't do well. And to that end, the economy isn't doing well right now. Let's look at some recent news events.


From the BEA:


Real gross domestic product -- the output of goods and services produced by labor and propertylocated in the United States -- decreased at an annual rate of 6.2 percent in the fourth quarter of 2008,(that is, from the third quarter to the fourth quarter), according to preliminary estimates released by theBureau of Economic Analysis. In the third quarter, real GDP decreased 0.5 percent.

From the BLS:



Nonfarm payroll employment continued to fall sharply in February (-651,000), and the unemployment rate rose from 7.6 to 8.1 percent, the Bureau of Labor Statistics of the U.S. Department of Labor reported today. Payroll employment has declined by 2.6 million in the past 4 months. In February, job losses were large and widespread across nearly all major industry sectors.



From the Federal Reserve:


Reports from the twelve Federal Reserve Districts suggest that national economic conditions deteriorated further during the reporting period of January through late February. Ten of the twelve reports indicated weaker conditions or declines in economic activity; the exceptions were Philadelphia and Chicago, which reported that their regional economies "remained weak." The deterioration was broad based, with only a few sectors such as basic food production and pharmaceuticals appearing to be exceptions. Looking ahead, contacts from various Districts rate the prospects for near-term improvement in economic conditions as poor, with a significant pickup not expected before late 2009 or early 2010.

Consumer spending remained sluggish on net, although many Districts noted some improvement in January and February compared with a dismal holiday spending season. Travel and tourist activity fell noticeably in key destinations, as did activity for a wide range of nonfinancial services, with substantial job cuts noted in many instances. Reports on manufacturing activity suggested steep declines in activity in some sectors and pronounced declines overall. Conditions weakened somewhat for agricultural producers and substantially for extractors of natural resources, with reduced global demand cited as an underlying determinant in both cases. Markets for residential real estate remained largely stagnant, with only minimal and scattered signs of stabilization emerging in some areas, while demand for commercial real estate weakened significantly. Reports from banks and other financial institutions indicated further drops in business loan demand, a slight deterioration in credit quality for businesses and households, and continued tight credit availability.




From the FDIC:





Expenses associated with rising loan losses and declining asset values overwhelmed revenues in the fourth quarter of 2008, producing a net loss of $26.2 billion at insured commercial banks and savings institutions. This is the first time since the fourth quarter of 1990 that the industry has posted an aggregate net loss for a quarter. The ?0.77 percent quarterly return on assets (ROA) is the worst since the ?1.10 percent in the second quarter of 1987. A year ago, the industry reported $575 million in profits and an ROA of 0.02 percent. High expenses for loan-loss provisions, sizable losses in trading accounts, and large writedowns of goodwill and other assets all contributed to the industry's net loss. A few very large losses were reported during the quarter-four institutions accounted for half of the total industry loss-but earnings problems were widespread. Almost one out of every three institutions (32 percent) reported a net loss in the fourth quarter. Only 36 percent of institutions reported year-over-year increases in quarterly earnings, and only 34 percent reported higher quarterly ROAs.


I could go on, but you you get the idea. The news of the underlying economy has been terrible (at best). And that's what's causing the problems.

 



The economy had nothing to do with ........
his jumping to grow BIG and BIGGER government; he was going to do that regardless of the economy. Obama is for big government and was WAAAY before he was elected. The economy was a good excuse to scare people into electing him, as if this country couldn't pick itself up, get rid of the bad, new companies come in, and the economy would continue all on its own, WITHOUT Obama's interference. But, of course, he jumped at the chance to push his HUGE government agenda by taxing us to death. Please don't tell me you won't pay any taxes. How in the heck do you think trillions of dollars of debt will be repaid..... and no, it won't be those mean old "rich" people everyone loves to hate and it won't be the big businesses Obama wants you to hate, it will be YOU and me..... business will just pass their increased tax load onto us!! Way to go Obama!!
And the economy isn't already gasping its

So is theft of the economy! nm
xx
why can't the economy be first and we have the debate...
after it is fixed. Why does the debate HAVE to be on Friday?
I have learned so much about the economy over...sm
the last week but it has only made me see how much more I don't know.  Pretty scary!  We are all at the mercy of those in Washington and on Wall Street.  Plenty of blame to go around but blame will not get us out of this mess.
The candidate who ran from the economy...
Obama voted for the bailout and that is ALL he did. That is not running from it? He still wants to spend trillions, won't say he is willing to cut spending, and wants to RAISE taxes in an economic downturn. You can't turn around the markets by raising taxes on corporations and the so-called "rich." Common sense should tell you that.

McCain has run from nothing. All Obama does is repeat the same old vagaries and NEVER gets specific about anything, but why should he? You obviously don't care. lol.
The OP is talking about the economy. nm
z
Not as compelling as the economy.
x
In a McCain economy, you will be
su
Who has been in charge of the economy for the

Democrats own congress....... they are the ones responsible for the complete mess of this economy.   But because there is a republican president, the republicans get the blame. 


Republican president really can't get anything done with an all democrat congress. 


He is going to do that by destroying the economy...
of Pennsylvania, West Virginia, Virginia, Ohio...making us all pay higher utility bills? What are his proposals? He doesn't want coal. He doesn't want nuclear. We CAN'T do it with windmills, not all of it, even T. Boone Pickens will tell you that.

Nuclear energy and building plants WOULD bring thousands of new jobs.

Sorry...his energy plans make NO sense to me, nor where he is going to get the billions, in this economy, to put his ideas into action.

He is already preparing the speech where he tells his faithful he can't do a lot of what he said he would do.

Snake oil salesman.
You are for, then....destroying the economy of...
the coal producing states and skyrocketing our electric bills...THIS on top of everything else, and he still looks GOOD to you? Amazing. lol.
Yes, and the economy with still stink. O will put us
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how is it going right back into the economy?
and WHO is it benefiting?

and one more thing... if this was McCain's inauguration, you would have no problem with the amount being spent either?

come on, be honest now
What would you undertake to fix the economy?.
Any better idea?
If you criticize, you have to come up with a better alternative.
fixing the economy...
I hope that by the time these projects are over, the economy will be better and the companies will therefore have new projects to move on to. The money that these jobs generate in taxes and in spending will spur more movement forward and we can hopefully start getting back on track.
Would that not stimulate the economy? sm
Think about it. If a person has a mortgage payment of say $500 a month (or any figure, really) and the government wrote a check for, say, $50K to that individual and it would pay off their house, would that not free up that $500 to be spent in other ways that would stimulate the economy?

People who are struggling to make their house payment, regardless of the reason, are still consumers and those consumers would be able to put more money back into the economy if they didn't have a mortgage payment. Isn't that the whole idea? To get more people spending more money so that more jobs would be created and so that our economy would grow?
Economy notice
Economy Notice

Due to recent budget cuts and the cost of electricity,
gas and oil, as well as current market conditions and
the continued decline of the U.S. economy,

The Light at the End of the Tunnel has been turned off.

We apologize for the inconvenience.
So much for fixing our economy

Mr. President.  This is the biggest problem I have with Barrack Obama.  He is all about implementing his personal agenda and making us all dependent on government while it grows bigger and bigger that he doesn't stop to think about the consequences that these actions will have on our already horrible economy.  All he talks about are the jobs he has created or saved and I'm sorry.....but I don't see that from where I'm sitting.  I see people all around me losing jobs or about to lose jobs and cap and trade will most definitely cause more job loss. 


Let our economy fix itself, Mr. President, and then we can talk about your personal agenda.  Any person who wants to raise taxes during a recession is a complete and utter moron.  Obama is doing nothing but hurting the middle class....which is the class he professed to want to help so badly. 


I have no doubt that Obama is smart or he wouldn't be where he is at.  However, I think he lacks the experience to be our president.  I personally feel that any person wanting to be president of the US should be required to have run or owned a business in the past.


I tell ya what....come 2012....I'm seriously going to be looking outside the box for our next president.  Not only will I thoroughly check out the pub and dem candidate but I'm going to check out the indepedents a lot more than I ever have in the past.  I think it is about time we show the two parties that they both suck and we have decided to go against both of them.  Maybe that will wake them up because this going back and forth between pub and crat hasn't done us much good here lately.


cant have an economy without a healthy land
Frankly, you cant have an economy, if you have no livable land or healthy people.  First and foremost is the land and it's people and animals.  Without all of that, we will not have an economy.  Funny how other industrialized countries are signing on..you know the countries who take care of their citizens with health care, paid maternity leave, paid vacation time..The caring countries..not the capitalistic class divided society of America.  OMG, just in New Orleans now you can see who are the fortunate ones versus the unfortunate ones.  The minorities are mostly all the unfortunate ones cause they could not afford to get out of town.  They are the ones hurting and rebelling.  This is the picture of America today.  The *haves* and *have nots* and Bush continues to give to the *haves* and do nothing for the *have nots*.
Republican Cut and Pasate Economy
Subject: lousy economic news

http://www.counterpunch.org/roberts12032005.html
An Economy Driven By Debt
Don't Confuse the Jobs Hype with the Facts
By PAUL CRAIG ROBERTS

The November payrolls job report was announced Friday with the usual
misleading hype. Spinmeisters made the most out of the 215,000 jobs.
Looking
beyond the glitter at the real facts, this is what we see. 21,000 of
those
jobs were government jobs supported by taxpayers. There were only
194,000
new jobs in the private sector.
Of those new jobs, 37,000 are in construction and only 11,000 are in
manufacturing. The bulk of the new jobs--144,000--are in domestic
services.

Wholesale and retail trade account for 20,000. Food services and
drinking
places (waitresses and bar tenders) account for 38,000.
Health care and social assistance account for 27,000. Professional and
business services account for 29,000. Financial activities gained
13,000
jobs. Transportation and warehousing gained 8,000 jobs.

Very few of these jobs result in tradable services that can be exported
or
help to close the growing gap in the US balance of trade.

The 11,000 new factory jobs and the 15,000 of the previous month are a
relief from the usual loss. However, these gains are more than offset
by the
job cuts recently announced by General Motors and Ford.

Despite the gain in jobs, total hours worked declined as the average
workweek fell to 33.7 hours. The decline in the labor force
participation
rate, a consequence of the shrinkage in well-paying jobs, masks a
higher
rate of unemployment than the reported 5 percent. The ratio of
employment to
population fell again in November.

Average hourly earnings (up 3.2 percent over the last year) are not
keeping
up with the consumer price index (up 4.3 percent).
Consequently, real incomes are falling.

This is not the picture of a healthy economy in which growth in high
productivity, high value-added jobs fuel the growth in consumer demand
and
provide savings to finance Washington's red ink. What we are looking at
is
an economy that is coming unglued from the loss of jobs that provide
ladders
of upward mobility and from massive trade and budget deficits that are
resulting in unsustainable growth in indebtedness to foreigners.

The consumer price index measures inflation at 4.3 percent over the
past
year. Many people, experiencing household budgets severely impacted by
fuel
prices and grocery bills, find this figure unrealistically low. PNC
Financial Services has a Christmas price index consisting of the gifts
in
the song, The 12 Days of Christmas. The index reports that the cost
of the
collection of gifts has risen 6 percent since last Christmas. Some of
the
gifts have risen substantially in price. Gold rings are up 27.5
percent, and
pear trees are up 15.4 percent. The cost of labor (drummers drumming,
maids-a-milking) has remained the same.

Populations are hard pressed when the prices of goods rise relative to
the
price of labor, because this makes it impossible for the population to
maintain its standard of living.

The US economy has been kept alive by low interest rates, which fueled
a
real estate boom. Consumers have kept growth alive by refinancing their
home
mortgages and spending the equity in their houses. Their indebtedness
has
risen.

Debt-fueled growth is qualitatively different from economic growth that
results from an increase in high value-added jobs. Economists who look
at
the 3+ percent economic growth rate and conclude that things are fine
are
fooling themselves and the public. When the real estate boom ends, what
will
be the source of new spending power?

Paul Craig Roberts has held a number of academic appointments and has
contributed to numerous scholarly publications. He served as Assistant
Secretary of the Treasury in the Reagan administration. His graduate
economics education was at the University of Virginia, the University
of
California at Berkeley, and Oxford University. He is coauthor of The
Tyranny
of Good Intentions. He can be reached at: paulcraigroberts@yahoo.com








Economy 1st issue, Terrorism last sm
What is wrong with this country? What good will money do us when our country is attacked? There is nothing like one who has walked the walk to guide us. I am thinking of my family first, it won't matter how well off we are if we are not a "free" nation. McCain knows what evil is, he lived it.
With the onset of a global economy........sm
it might not be such a stretch of the imagination.  Our cpl is dropping rapidly, if not for transcribed lines, then surely with ASR.  With the quality of the ASR I have seen lately, I pretty much have to transcribe from scratch a good percentage of reports I get.  This brings my overall cpl way below what I was hired to transcribe for. 
Interesting view on the economy...

George Bush has been in office for 7 1/2 years. The first six the economy was fine.


A little over one year ago:


  1. Consumer confidence stood at a 2 1/2 year high;
  2. Regular gasoline sold for $2.19 a gallon;
  3. The unemployment rate was 4.5%;
  4. The DOW JONES hit a record high — 14,000+;
  5. American’s were buying new cars, taking cruises, and vacations overseas, living large!

But Americans wanted CHANGE! So, in 2006 they voted in a Democratic Congress & yep — we got CHANGE all right.


In the PAST YEAR:


  1. Consumer confidence has plummeted;
  2. Gasoline hovers near $4 a gallon;
  3. Unemployment is up to 5% (a 10% increase);
  4. Americans have seen their home equity drop by $12 TRILLION DOLLARS & prices are still dropping;
  5. 1% of American homes are in foreclosure;
  6. As I write, the DOW is playing around 11,500. $2.5 TRILLION DOLLARS HAS EVAPORATED FROM OUR STOCKS, BONDS & MUTUAL FUNDS INVESTMENT PORTFOLIOS!

Yes, in 2006 America voted for change. And we sure got it. Now Barack Obama, the Democratic candidate for president, claims he’s really going to give us change.


How much more CHANGE do you think we can stand?





First 6 years, economy was great too. Then,
nm
Why did the economy spiral downward after the
nm
Yeah, and the economy has plummeted since
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