GOP Urging Restraint In Stimulus Debate

Out of power, Republicans appear to be retreating to familiar old ground. They're becoming deficit hawks again ... . John Cornyn, R-Texas. Asks House Minority Leader John Boehner, R-Ohio: "How much debt are we going ... are seeking to change the mix in Obama's proposal to include more tax breaks [more...]

Date: 2009-01-11 14:34:04

Blog posts (148) | Videos (54)
 

TARP's Original Mandate Must be Executed

“This program is intended to fundamentally and comprehensively address the root cause of our financial system’s stresses by removing distressed ... s (Troubled Asset Relief Program) original mandate, the Treasury would apportion a sizable share of the original $700 billion dollars of tax-payer funds to place busted mortgage-backed assets [more...]

Date: 2009-01-12 18:37:25

Uncle Sam’s 16% Return: How Treasury’s Bank Investments Are Making Money

Treasury Secretary Hank Paulson is getting a better return than most fund managers this year. ... yesterday that the Treasury’s Troubled Asset Relief Program has had a gain of about $8 billion ... . With this type of stimulus, there will be little, if any, long-term increase in the debt.” TARP [more...]

Date: 2009-01-06 12:37:00

Sarah Palin: COMMON SENSE CONSERVATISM

tothepointnews.com Written by Sarah Palin Thursday, 24 September 2009 You can call me a common-sense conservative. My approach to the issues facing my country and the world, issues that we’ll discuss today, are rooted in this common-sense conservatism… Common sense conservatism deals with the reality of the world as it is. [more...]

Date: 2009-09-27 17:28:31

Tax Incentives Found in the American Recovery and Reinvestment Act

Are you taking advantage of the tax incentives available to you as a result of the American Recovery and Reinvestment Act (ARRA)? Often referred to as the economic stimulus package, the ARRA was unleashed on our down economy in February of 2009. It’s been a while since the act was rolled out, so I thought I’d share some of the tax incentives that may effect some of your spending and saving this fall. [more...]

Date: 2009-09-28 02:44:11

Stimulation

The talk this morning is all about the tax cuts included in Barack Obama's stimulus package, which is understandable, but also a bit misleading ...   (and political) relief, and is skeptical about the investments which, if done well, will provide long-term growth: "I remain concerned about wasteful spending that might be attached to the tax relief. [more...]

Date: 2009-01-06 14:33:42

Full Text: Barack Obama on Economy | Economic Recovery and Reinvestment | January 8, 2009

(Source: Office of the President-Elect) Throughout America’s history, there have been some years that simply rolled into the next without much notice or fanfare.  Then there are the years that come along once in a generation – the kind that mark a clean break from a troubled past, and set a new course for our nation [more...]

Date: 2009-01-08 18:00:11

Cornell 13 - Emancipation of the Plebs

src="http://pagead2.googlesyndication.com/pagead/show_ads.js">Sitting at home on a proverbial January day means doing my reading a bit differently ... , but lacking thorough documentation and understanding of the past, conflict over land, debt, and political ... an anachronistic lens doesn't mean the Roman historians got it all wrong. Land and debt were [more...]

Date: 2009-01-14 19:08:00

Battle of the Titans

For those of you that prepare yourselves, the OPPORTUNITIES will be abundant and limitless; for those that don't it could be a very difficult period ... as they BELIEVE they have the ability to print money and create credit out of thin air endlessly. In reality ... to print wealth through monetary and asset inflation for decades. The first law the G7 is [more...]

Date: 2009-01-15 00:00:37

Transcript: DICK Cheney on Fox News Sunday | The Exit Interview | December 21, 2008

(Source: CQ Transcriptswire) Editor’s Note: This portion of the show transcript contains only the Cheney interview. Mr. Chris WALLACE: Mr ... s package basically extends a line of credit to the companies for a specified period of time and also ... that’s a target. That’s not a restriction. The bond holders taking equity instead of debt — that’ [more...]

Date: 2008-12-21 20:13:21

The Stimulation Method (or, The Economics of Everything)

As I said in the previous post, beyond some specific questions about how the "stimulus plan" may not help women in the workforce, ... has laid bare enormous problems in our economy centered around excessive levels of debt, debt which touches every aspect and corner of our lives. Home loans, car loans and crdit card debt impact almost [more...]

Date: 2009-01-11 18:01:11

Nevada Unemployment Higher: Whose job is it to create jobs?

Nevada's unemployment rate ticked upward again, increasing from 7.6% in October, 2008 to 8.0% as of November ... Unfortunately, they are also still clinging to their discredited economic mythology.Myth: Tax Breaks Will Make Us ProsperousMost Conservative solutions involve yet more tax reductions. Allan H. Meltzer told [more...]

Date: 2009-01-10 17:59:00

Democrats Indicate A Pulse-- Some Will Not Be Rubber Stamps For Obama When He Leans Too Far Towards Bad Republican Ideas

Obama and Conrad With extreme right wing loons demanding that "their" congressional delegates adopt their own 100% obstruct-obstruct-obstruct posture towards Obama, Limbaugh and other Republican propaganda agents are already claiming the impending Bush-GOP Depression is Obama's fault-- just as they always claimed that FDR caused the Great [more...]

Date: 2009-01-09 15:39:47

YOUR TOP TEN CONGRESSIONAL HITS, coming to your neighborhood shortly, is the plan (stolen from Tapped): * S ... mortgages by bankruptcy judges, new regulations for the credit card and financial industry ... interference") and perhaps another go at the Ledbetter law ("removing barriers to fair pay for all workers [more...]

Date: 2009-01-11 20:47:59

A Convert's Tale

A friend of mine, once armed with impeccable progressive credentials, ... and we lived in a council house. In fact, the shocked response of my family on this wall has been a relief ... , I experienced the burden of paperwork and tax which prevented us from growing and employing more people [more...]

Date: 2009-01-10 14:58:26

WHY WALL STREET ALWAYS BLOWS IT (and where the money went)

Atlantic Article Submitted by multiple readers, I read this as soon as my issue was delivered. It’s true ... all of us are to blame.by Henry Blodget WHY WALL STREET ALWAYS BLOWS ITImage credit: John RitterWell, we did ... hangover of an even bigger one—a global housing and debt bubble whose bursting has wiped out tens [more...]

Date: 2009-01-14 15:31:41

Obama's Cabinet - Love Fest and Patsies!

A baggy eyed Sen. Clinton was given a pass yesterday in her Sec.of State Nominee hearings.Every president is entitled to the Cabinet he has slected and the opposition party should play the role of asking penetrating and probing questions and unless they find something very disturbing Cabinet Nominees should be allowed to serve [more...]

Date: 2009-01-14 14:35:00

Nancy Pelosi’s Heavy-Handed Reign

Speaker Nancy Pelosi (D-Calif.) and her Democrat allies are poised to rewrite House rules today, ending term limits for committee chairmen and curtailing a procedural motion for Republicans to offer alternative legislation. Changing the rules will make it easier for Democrats to raise taxes without opposition [more...]

Date: 2009-01-06 13:40:48

Guest Post: Time to Recapitalize Banks Fully

As debate continues over the release of the second half of the Treasury Department’s Troubled Asset Relief Program, Peter Boone and Simon Johnson argue that it’s time to stop taking half steps and make sweeping moves to fight bank insolvency. Boone is chairman of Effective Intervention, a U.K [more...]

Date: 2009-01-15 11:47:00

Ask Joe the Plumber

(Editor's Note: The Angry Drunk Bureaucrat is pleased to announce that we have signed on Samuel Joseph Wurzelbacher, aka, "Joe the Plumber," ... , the President-Elect promised Middle Class tax relief for 95 percent of workers and their families with a tax cut of $500 for workers or $1,000 for working couples. Given the current economic situation [more...]

Date: 2009-01-13 00:50:00

The Loser Now Will Be Later To Win

posted below, which climaxes with a gorilla raping a man, or the 1995 skit he kicked around at SNL that would have depicted Andy Rooney, of 60 Minutes fame, contemplating what he could do with Leslie Stahl and a bottle of sedatives. Perhaps the most illustrative moment of Franken mischief comes in 1980, [more...]

Date: 2009-01-06 15:20:53

Top 17 Reasons Homeowner’s Default On Their Mortgage

Top 17 Reasons Homeowner’s Default On Their Mortgage Posted by Aaron Rice under For Buyers, For Realty Professionals, For Sellers, ... 16. Too much debt 17. Inheritance Most mortgage companies or lenders require the hardship letter ... who contact us on a daily basis to help determine the value of their assets. You can be sure [more...]

Date: 2009-01-15 14:59:13

Sarah Palin's TEA Party: A third party?

by Mark Silva Mark this as the week in which one of the potential players for 2012 set out to brand herself: Sarah Palin, the "common-sense conservative.'' Three years from now -- think about that phrase a moment -- we'll know if the brand stuck. We'll also have a clearer picture of what's up with this resignation of hers. [more...]

Date: 2009-09-27 12:00:00

Memo to The Banks

Memo to The Banks: Lend or Else DAVID SMICKBack in the early 1990s, when Fed Chairman Alan Greenspan was still considered "the Maestro," ... a discussion of 1980s tax and interest rate policy. That's not what I got. Greenspan theorized ... and bridges, more generous unemployment insurance, and tax credits hardly constitute "audacious [more...]

Date: 2009-01-12 18:01:00

Transcript: President George W. Bush at American Enterprise Institute, Includes Q&A | December 18, 2008

(Source: White House Press Office) 10:44 A.M. EST MR. DeMUTH: Mr. President, what’s on your mind this morning? THE PRESIDENT: First, thanking you for being the leader that you’ve been, and thanking AEI for generating good thought. People in the public arena need to have support for philosophy — and that’s what you provide, [more...]

Date: 2008-12-18 20:43:07

Economic Potpourri December 14, 2008

The barrage of noteworthy economic news continues unabated. Here are a few headline news reports of interest from the past couple days ... of U.S. government debt outstanding rose to $10.7 trillion in November from $9.15 trillion a year earlier ... people continue to flock to the U.S. government debt market because it’s the biggest and deepest [more...]

Date: 2008-12-15 02:30:00

The Ghost of Depression Past

The Ghost of Depression Past By The Editorial Board The economy is tanking, and true to Republican form, ... , making its other debt more expensive and undermining the very idea of state fiscal relief. Yet Mr ... federal relief, Mr. Hoover was finally persuaded by Congressional progressives to sign a bill [more...]

Date: 2009-01-08 21:08:14

Fixing the Unemployment Outlook

by The Mogambo Guru Mish Shedlock at globaleconomicanalysis.blogspot.com has looked at the latest Z1 Flow of Funds report, and found that "$7 ... " that he figures will appear in 2009. He says, "I doubt Obama can do that quickly, if indeed at all." Suddenly, I see my chance to get the spotlight off of Mr. Shedlock, who deserves it, and onto me, who [more...]

Date: 2009-01-02 20:04:08

Current Baltimore City Maryland Real Estate Market *Trend Tracking*

Current Baltimore City Maryland Real Estate Market *Trend Tracking* Posted by Aaron Rice under For Buyers, For Realty Professionals, For Sellers, ... Expert (CDPE). 443-244-0051. Are you facing a financial hardship? 4-Temporary Loan Relief ... consider forbearance when you can show that funds from a bonus, tax refund, or other source will let [more...]

Date: 2009-01-14 13:08:05

No Help for Middle class Americans. Can we get help sooner than later?.

After a year of failed efforts, Congress and the new administration are considering more aggressive measures, including a possible change to bankruptcy law. Homeowner relief could come as part of a new ... for foreclosure relief. Congress and the incoming administration are taking a multipronged approach [more...]

Date: 2009-01-14 21:32:00

TARP is in the headlines again!

Financial markets are still stressed. And given that Secretary Paulson has already appropriated TARP funds in excess of the first $350 billion, it is not surprising that Pres. Bush is drafting up a request for Congress to release the final $350 billion in TARP monies (with an interesting political tie to Obama) [more...]

Date: 2009-01-11 19:04:08

Do You Feel Stimulated?

Speaker Nancy Pelosi has released a draft of the proposed stimulus package that is now standing at around $825 billion.  It didn’t take too long to grow $50 over what Obama was asking for (read draft here).  Needless to say, that in order to get bi-partisanship off on the right foot, [more...]

Date: 2009-01-15 22:54:11

Equal Justice Works Launches Student Debt Relief Podcast

If you are graduating from college soon and worried that your career options are limited due to your staggering student loan burden, ... of Law, Equal Justice Works has launched its first podcast show on the topic of student debt relief ... hurdles for any person entering a public service career is student loan debt – and law school grads may [more...]

Date: 2008-12-26 17:53:00

IRS Offers Advice To Cash Strapped Americans

IRS Offers Advice To Cash Strapped Americans Posted by BK Dallas on 15 Jan, 2009 in Tax - Debt Garnishments Taxes, another debt that many Americans are struggling with is often going unpaid as taxpayers struggle ... from these payments, or make estimated payments to avoid a big bill at tax time. Public assistance and food [more...]

Date: 2009-01-15 17:08:01

Today In Budget Hell

With the Governor and the legislature still no closer on a special session solution on the budget, ... and debt service, the Capitol's budget paralysis may leave me no choice but to, in full or in part ... Stamps, WIC, Healthy Families, Medi-Cal, and CalWORKsfor assistance. Increased demand for public [more...]

Date: 2008-12-23 01:56:07

Bring Back Paternalism in the Mortgage Market

Not Responsible—Tom Jones Now let me ask you something: Have you ever felt that you weren’t responsible for the things that you do? I do not like government paternalism. When Ronald Reagan came to power and began our 25 year experiment with government deregulation, I thought it was a good idea [more...]

Date: 2009-01-12 15:43:03

Political Wisdom: Obama’s Plan is Just Too Small

Here’s a summary of the smartest new political analysis on the Web: by Gerald F. Seib and Sara Murray Plenty of skeptics are popping up to suggest the economic stimulus plan President-elect Barack Obama will present, carrying a price tag of $800 billion or so, is too much government spending, [more...]

Date: 2009-01-08 15:58:41

A Further Critique of Romer and Romer

by cactusA Further Critique of Romer and RomerLet's take another look at the main Romer and Romer findings, namely that under some circumstances, tax cuts are good for economic growth. In the past I noted I have a few problems with it, but I thought I'd let the Romers work speak for itself as much as possible when making this critique [more...]

Date: 2009-01-13 11:27:00

News and Commentary

Children Heavily Represented Among 917 Dead, Say Officialsby Michael Jansen - Irish Times / Common DreamsHealth officials in Gaza said yesterday that the Palestinian death toll since Israel began its offensive against the Strip on December 27th had reached 917 and the number of wounded 4,100 [more...]

Date: 2009-01-14 08:42:00

January 10 2009: Hornswoggled Absquatulation

Russell Lee Tobaccy Candy 1940 Pool hall, Shasta County, California Ilargi: The revolving doors between Washington and Wall Street are swinging like never before. Lawrence Summers and Robert Rubin are the finance powerhouses in the upcoming Obama administration. They were in the exact same place 10 years ago [more...]

Date: 2009-01-10 16:28:00

1-15-2009 (Thu Afternoon) Fin. & Econ. Activity

General Motors Corp. cut its estimate for 2009 U.S. industrywide auto sales to 10 ... in additional capital from the Treasury Department’s Troubled Asset Relief Program, plus government ... 1970s, said Steven Meyerhardt, a spokesman at the Bureau of Public Debt in Washington. The early [more...]

Date: 2009-01-15 21:20:17

Better Hope the “Blame Bush” Part Works

Better Hope the “Blame Bush” Part Works Jennifer Rubin - 12.22.2008 - 12:48 PM Well, let’s give Alice Rivlin credit ... concrete results in areas such as providing mortgage relief or extending unemployment benefits ... a legacy of debt, transforming the biggest surpluses in history into the biggest deficits and affecting [more...]

Date: 2008-12-22 17:48:14

LLC Bankruptcy - * What are your key turn around strategies

LLC Bankruptcy - * What are your key turn around strategies Restructuring business? How to turnaround your business and avoid bankruptcy ... certain there is no other choice. Anyhow, if your debt relief is significant, you must work with your Bookkeeper and debt representative to plan for any potential tax liability. In addition [more...]

Date: 2009-01-15 19:33:06

Retirement Investing Crisis

by Doug West The meltdown on Wall Street has taught us all that: ... offer many advantages over mutual funds. Here are just a few: * Tax Advantages - ETFs seldom sell ... , you could owe tax on part of the funds holdings (the winning stocks they sell at a profit) even [more...]

Date: 2008-12-20 02:23:03

Why Obama’s ‘Tax Cuts’ Won’t Work

Why Obama’s ‘Tax Cuts’ Won’t Work By Alex Brill Despite their political appeal, ... in the form of a tax cut. At least half of that tax relief is expected to be aimed at helping middle ... of the proposed tax relief. Some claim that a worker credit will give additional income to those people [more...]

Date: 2009-01-11 23:34:00

Where the Money Is

By BOB HERBERTNYTA trillion here, a trillion there .. ... to come.”The economy is in a precipitous downturn and no one, on the left or right, is advocating tax ... as we can: the Troubled Asset Relief Program ($700 billion and counting); Mr. Obama’s proposed stimulus program [more...]

Date: 2009-01-13 09:56:00

President Bush Doesn’t Care About Black People

Dec. 8, 2008: President George W. Bush kisses one of the children attending the Children’s Holiday Reception and Performance with first lady Laura Bush in the East Room of the White House in Washington, DC. The reception is for children whose parents are serving in the military and cannot be with them for the Christmas holiday [more...]

Date: 2009-01-14 08:47:09

IRS Tax Debt Relief

With the coming of the New Year, comes all the filing and paperwork involved in the inevitable tax return season that is quickly coming up ... there are companies out there they assist with these type of financial issues with IRS Debt relief ... . I can imagine and have witnessed the stress and strain on people that have any type of irs tax debt [more...]

Date: 2009-01-15 20:18:20

5 Things You Need to Know about the Estate Tax

Our new President, the House and Senate have a busy year in store for 2009.  Among the many issues on the docket is the Estate Tax.  Scheduled to sunset in a few short years, important decisions must be made.  Here are the basics about our current system: 1.    The rules for the levy of the US Estate Tax ( [more...]

Date: 2009-01-15 19:00:18

Borrow money for infrastructure, but fix what we have first

The highlight of Governor Chet Culver's "condition of the state" address yesterday (video here and prepared text here) was a proposal to issue state bonds to borrow up to $700 million over the next few years: Thousands of new jobs will be created, Culver said [more...]

Date: 2009-01-14 11:56:59

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