Friday, February 27, 2009

Did George Bush Write The New Obama Budget?

Are Any Democrats Longing For The Old Days Yet?

This is a look at a snapshot of the Obama budget proposal which will most likely endure changes along the way but that gives us an idea of the sectors and citizens that have the potential to feel the most pain.

Egg Timer


Will The Democrats Find A Way To Blame This Budget Proposal And Move Towards Socialism On The Bush Administration? I Am Sure We Will Find Out As Everything Obama Does Is Reported To Be In Response To "The Failed Policies Of The Last Eight Years."

For all of you Obama apologists and Bush antagonists out there, the sand is slowly running out of the egg timer. We know the drill. Eight years of failed policies and spending and an inherited budget deficit and banking/financial crisis. All the result of Washington business as usual and Change that hadn't arrived until Obama did. Is the change that we were waiting for: Jimmy Carter 2? Can a windfall profits tax on any industry still making money be far behind?

The Question: Is This Budget The Change That We Need?

The markets don't seem to think so as the Dow, NASDQ and S&P all fell after the details came out.

Student Loans - We have a proposal to end federal subsidies to private companies providing student loans - Sallie Mae -36% Thursday

Health Insurers - A proposal to trim medicare payments to firms such as United Healthcare -13% Thursday

Drug Company's - A proposal to allow more cheaper overseas purchases. Merck -7% Thursday

The budget also calls for a heavier tax burden on the "wealthiest" Americans, those making over $250,000 a year as a couple and $200,000 for single people. These are the same people who tend to be the entrepreneurs creating new jobs and who do the most consumer spending who may now lose any incentive to do either.

Budget Assumptions

The Obama budget assumes that the country will enjoy economic growth of 3.2% in 2010 and 4% the three years after that. All well above the estimates of the private sector economists.

This is just a quick look at what we heard Thursday.

That honeymoon is just getting closer and closer to its' end!

6 comments :

  1. mike , your negative right wing conservative focus is tiring....lighten up...why should you be another factor stressing out the world...you must be one tightly wound guy mike...take a chill pill (xanax) and get some sleep my man...because i think your looking at the deep end...this stuff may make you old and bald before your time mike haltman..how many time s could you bring up the last 8 years ..sounds like your consumed with that piece of shit bush

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  2. Hey Anaonymous:

    On a morning when the U.S. government is taking over Citigroup (trading down at $1.25 a share), you actually got me to laugh.

    As you know my obsession with the phrase "failed policies of the last 8 years" is in response to our presidents obsession with it.

    I am wound tight. I am negative and I don't get enough sleep. Aren't you, or are you one of the lucky ones with a business thriving in this recession. If so, congratulations.

    Be proactive for a change and instead of pointing out what I say, say something yourself. Point out the pot at the end of the rainbow or the light at the end of the tunnel and I will focus on that instead.

    I am not going to hold my breath becuase I doubt you can do that.

    Anyway, I am already old but my hairline has been the same since I was a kid. I appreciate your concern though.

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  3. mike, anyone could spew bullshit like your comments....i choose to be mellow.

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  4. Man, you talk a tough game until it is time to talk a tough game on anything other than telling me how wrong I am.

    I think you are a scared rabbit.

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