Obama calling for more infrastructure...

Obama calling for more infrastructure spending

There are 31 comments on the El Paso Times story from Sep 6, 2010, titled Obama calling for more infrastructure spending. In it, El Paso Times reports that:

President Barack Obama is asking Congress to approve at least $50 billion in long-term investments in the nation's roads, railways and runways in a pre-election effort to show he's trying to stimulate the sputtering economy.

Join the discussion below, or Read more at El Paso Times.

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God bless Obama

El Paso, TX

#2 Sep 6, 2010
When Bush launched a phony war then used American taxpayers' money in the trillions to fund it for a decade then increaded defense spending from 1/4 to 1/2 the entire US budget, then gave companies and super wealthy tax breaks that undermines America's benefit , and then allows deregulation of high risk, disasterous financial actions (that facilitate greed and irresponsible bankruptcy), and rewards those same greed mongers with bailouts ...NO WONDER
the recession is taking so long to recover.

Two term Bush had 8 yrs to build the house of cards and everyone expects it to be fixed in less than two years under Obama. GOP still obstructs, undermines and panders irresponsible plans and policies that lead to bankruptcy and deficits . Bush and PErry are THE BIGGEST spenders to ruin a country but obstuct spending to rebuild and try to recover the economy.

Tea Party, Libertarian and especially GOP are disastrous and self serving. They like tax payers to subsidize irresponsible industries, toxic pollutors , oil, insurance, Wall street, etc but loathe education, health , jobs.

Democrats are on the right path and need to keep investing in America and responsible business not dysfunctional ,greedy robber barron crony business industry mentality.
NObama

El Paso, TX

#3 Sep 6, 2010
How is bankrupting the nation into oblivion by spending on pet projects going to stimulate the economy?

How much more can the nation take from this imbecile?
Danny

El Paso, TX

#4 Sep 6, 2010
God bless Obama wrote:
...
Some people are ignorant because they don't understand the facts and then others, like you, are considered STUPID because they ignore the facts.
CHANGE ONE DAY

United States

#5 Sep 6, 2010
Man up & take responsibility for you actions (or lack of)...SAVE America vote Republcan!!!
Ray

El Paso, TX

#7 Sep 6, 2010
This fool has tripled our deficit already and he says he is going to help the unemployment rate now. This president is a socialist, marxist, lenonist, and would love to be a dictator as well. Let's send him a message in November!
awesome

United States

#8 Sep 6, 2010
The magic orator is going to tell us a new song.

Change is COMING, Change is COMING
in about 60 days

Fancy Nancy, Fancy Nancy and Harry Reid too,

all wishin, all wishin,

THEY LISTENED....

“Did U plug the damn hole yet?”

Since: Jan 08

Addison, TX

#9 Sep 6, 2010
I think Obama is one more expensive vacation away from losing a majority of the voters completely.

Obama really stumbled through August and if he thinks he can spend his way back into their hearts he's even more clueless than we thought.
curious

United States

#11 Sep 6, 2010
Republican HEYDAY from 2000 to 2008....you gave us "9-11" in 2001....you have us tax cuts for the rich so that jobs could supposedly created...you gave us lax regulations of the Wall Street gamblers, oil co's coal co's etc.,...falsehoods to attack Iraq, waste a trillion dollars and thousands of American lives...and watched as the US and world financial systems began to crash and burn, and millions of Americans losing jobs. THANKS WE WANT YOU BACK FOR MORE!
Dumber than dumb

United States

#12 Sep 6, 2010
Having failed on all fronts, especially on the TRANSPARANCY, he now has a magic bullet.

He just won't admit being in OVER HIS head,
as he sinks this nation to new lows.

Change is coming, and relief is in sight,
IT IS A MOVING VAN HEADED FOR THE PEOPLES HOUSE!

“Voters elect Big Bird”

Since: Jan 07

Dump American Eagle

#13 Sep 6, 2010
Obama likes to say the republicans drove the car in the ditch.... Well,no one can dispute that. However,at this moment,Obama is setting the car on fire and is throwing gas on to put it out. What can you expect from some one with no experience in business,finance,manufaturing, or construction. And HE is supposed to know what to do? Right....
Quis draw

AOL

#14 Sep 6, 2010
"He will work every day, every hour, every minute, and every second to...." wait while I make this putt will you? Oh, and after I take another vacation, oh and have my dinner with Michelle, and oh hell, scroo you America. Can this wait until tomorrow?
Wartime

United States

#15 Sep 6, 2010
God bless Obama wrote:
the recession is taking so long to recover.
Two term Bush had 8 yrs to build the house of cards and everyone expects it to be fixed in less than two years under Obama.
Are you referring to the George Bush under whom the federal deficit was a mere $161 billion in the last budget (FY 2007) before the Democrats took control of both houses of Congress in January 2007? Whereupon they increased it to $460 billion before Bush left office, and then to $1.42 trillion in the most recent fiscal year (FY 2009)-- an increase of $1.26 trillion or 776%. While the FY 2010 deficit is projected to come in at another $1.5 trillion, along with a TRIPLING of the national debt?

The same George Bush who didn't RUIN Americans' futures for generations in the name of some whacked anti-American subversive marxist's disingenuous, anti-capitalism, pro-union, 24/7 politics-first, America-last ideology and hidden agenda for wealth-redistributive social justice, along with TRILLIONS in union payoffs on the backs of American taxpayers?

The real disaster created by the last administration was Bush's fiscally LIBERAL, unrestrained spending (despite being miniscule compared to Obama and the democrats). Bush -- for all his fiscally LIBERAL policies -- brought us back from the dot-com bust and 9/11. Under Bush the DOW was at 14,000, the deficit under $161 billion, and unemployment at 4.2 - 4.5%.....UNTIL the democrats took over the House AND the Senate in January, 2007.
.
.
No one should forget what happened after January 20th, 2007, when the DEMOCRATS TOOK OVER BOTH HOUSES OF CONGRESS.

After which they quadrupled the national debt, tripled the deficit, doubled unemployment, legislated trillions in payoffs to state unions and union pensions, and have utterly crippled confidence and prosperity in America.

From: http://www.topix.com/forum/us/politics/T50ESI...

Since 2007...

• The National Debt.....has increased from $8.67 trillion to $12.6 trillion—an increase of $3.93 trillion or 45.3%.

• The Debt Limit.....has increased six times. Since the Democrats took over Congress, the debt limit has increased from $8.965 trillion to $14.29 trillion -- an increase of $5.33 trillion or 59.4%.

• The Deficit.....has increased from $161 billion in the last budget before Democrats took control of the Congress (FY 2007) to $1.42 trillion in the most recent fiscal year (FY 2009)-- an increase of $1.26 trillion or 776%. The FY 2010 deficit is projected to come in at another $1.5 trillion.

•$10.5 Trillion Deterioration to Nation’s Budget Outlook.....The same month Democrats took control of Congress (January 2007), CBO, under then CBO Director Peter Orszag, projected an $800 billion surplus over the ten-year period FY 2008-2017. Today, covering the same period—including the actual deficits from FY 2008 and FY 2009—as well as what the President proposes in his budget for fiscal years 2011 through 2017, that $800 billion surplus turns into a $9.7 trillion deficit. This is a $10.5 trillion worsening of the budget outlook in three years of Democrat control of the Congress.

HIGHLY RECOMMENDED....4 consecutive posts....
http://www.topix.com/forum/us/politics/T7SGOT...
http://www.topix.com/forum/us/politics/T7SGOT...
http://www.topix.com/forum/us/politics/T7SGOT...
http://www.topix.com/forum/us/politics/T7SGOT...

[continues...]
Wartime

United States

#16 Sep 6, 2010
[continued, part 2 of 2]

No one should forget what happened after January 20th, 2007, when the DEMOCRATS TOOK OVER BOTH HOUSES OF CONGRESS.

From: http://www.topix.com/forum/us/politics/T50ESI...

Source: St. Louis Fed/FRED, Hoven's Index for June 30, 2010
http://www.americanthinker.com/blog/2010/06/g...

Changes in number of jobs:

• In last six months (Nov. 2009 to May 2010):+873,000

• In Bush's eight years (Jan. 2001 to Jan. 2009):+1,080,000

• In Obama's 17 months:-2,979,000

• When Republicans controlled House and Senate, Jan. 95 to Jan. 2001:+16,107,000

• When Congress/Senate were split, Jan. 01 to Jan. 03:-2,203,000

• When Republicans controlled House and Senate, Jan. 03 to Jan. 07:+6,801,000

• When Democrats controlled House and Senate, Jan. 07 to present (May):-6,497,000

• Since December 2007 (peak):-7,381,000

The marxist subversive-in-chief has already cost us nearly 3 million jobs, and 6.5 million jobs have been lost since the democRATS took control of both houses of congress in January, 2007. And if you take government jobs (and census jobs) out of the equation.....the number of jobs lost by Reich Chancellor Obama and his National Socialist Democratic Party is MUCH, MUCH higher.

BO = EPIC FAIL. Case closed
Wartime

United States

#17 Sep 6, 2010
God bless Obama wrote:
the recession is taking so long to recover.
Two term Bush had 8 yrs to build the house of cards and everyone expects it to be fixed in less than two years under Obama.
The democrats -- Clinton and his administration (including Frank, Dodd, and Fannie and Freddie) are responsible for creating the too big to fail banks, for failure to regulate Hedge Funds, and for failure to regulate derivatives. In addition, the housing policies pushed by his adminstration under HUD Secretary Andrew Cuomo are responsible for expanding subprime loans.(while Bush tried 13 times to stop it).

Clinton signed the Gramm Leach Bliley Act and the Commodity Modernization Act (CRA). Poor public policies in the 1990s (the CRA for example) combined with those deregulation bills, and a period of very low interest rates earlier in the decade (after the Nasdaq bubble broke in 1990 and ushered in a recession) all fueled a housing bubble, and the asset securitization of the mortgages, and extreme leverage using unregulated derivative products of various sorts all contributed to the crisis.

The democrats and Fannie/Freddie's easing of credit requirements (which created the problem) in 1999 AND their thwarting of Bush's attempts to stop them in 2003 had FAR FAR more to do with the housing collapse than Bush.

2003: Bush proposes what the NY Times called "the most significant regulatory overhaul in the housing finance industry since the savings and loan crisis a decade ago". 1 of 17 proposals.

President Bush tried 13 TIMES to stop the corrupt Frank, Dodd, Waters, and their corrupt contributors Fannie/Freddie, but was thwarted. Bush SHOULD HAVE SHUT THEM DOWN like Pelosi, Reid, and Obama have shut down bipartisanship since the demoocrats took over both houses of congress in January 2007. But he did not. Blame lies with the democrats -- ALL OF IT.

And what have those same democrats and Obama done lately?....Promise Fannie and Freddie (who control 75% of all US mortgages and are $160 billion in the red) unlimited taxpayer funding, while EXCLUDING THEM from their financial reform bill.

Reposted from Alz: http://www.topix.com/forum/us/politics/T50ESI...

CRA was part of it. When Carter dreamed it up, it didn't have much of a bite. Clinton ramped it up and that's when the problems started happening.

It would have been better to let the market take care of the problems rather than allow forced government regulation that skewed the market over time.

(Sept 1999) "Fannie Mae Eases Credit To Aid Mortgage Lending"
http://query.nytimes.com/gst/fullpage.html...

(Sept 2003) Bush tries to fix it
"New Agency Proposed to Oversee Freddie Mac and Fannie Mae"
http://query.nytimes.com/gst/fullpage.html...

"The Bush administration today recommended the most significant regulatory overhaul in the housing finance industry since the savings and loan crisis a decade ago."

"Under the plan, disclosed at a Congressional hearing today, a new agency would be created within the Treasury Department to assume supervision of Fannie Mae and Freddie Mac, the government-sponsored companies that are the two largest players in the mortgage lending industry."

"The new agency would have the authority, which now rests with Congress, to set one of the two capital-reserve requirements for the companies. It would exercise authority over any new lines of business. And it would determine whether the two are adequately managing the risks of their ballooning portfolios."

"The plan is an acknowledgment by the administration that oversight of Fannie Mae and Freddie Mac -- which together have issued more than $1.5 trillion in outstanding debt -- is broken."

Blame is spelled D-E-M-O-C-R-A-T-S.

Barney Frank and Chris Dodd should have been frog-marched to jail.

[continues...]
Wartime

United States

#18 Sep 6, 2010
[continued, Part 2 of 2]

And LAST YEAR, Barney Frank came up with the idea of reducing the requirements AGAIN.( http://www.washingtonexaminer.com/opinion/blo... ) You can't make this stuff up!

And where are these Fannie Mae executives now?
Franklin Raines ($90 million in compensation): Economic Adviser to Barack Obama
Jamie Gorelick ($26 million): Major Democratic Fundraiser
James Johnson ($21 million): Adviser to Barack Obama

Video: Timeline shows Bush, McCain warning Dems of financial and housing crisis; meltdown
http://www.youtube.com/watch ...

Video: Democrats in their own words Covering up the Fannie Mae, Freddie Mac Scam that caused our Economic Crisis
http://www.youtube.com/watch ...

"I think that the responsibility that the Democrats have may rest more in resisting any efforts by the Republicans and the Congress or by me when I was President to put some standards and tighten up a little on Fannie Mae and Freddie Mac." -- Bill Clinton

http://query.nytimes.com/gst/fullpage.html ...
"These two entities -- Fannie Mae and Freddie Mac -- are not facing any kind of financial crisis", said Representative Barney Frank of Massachusetts, the ranking Democrat on the Financial Services Committee.

"The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing."
.
.
From the Laughing Liberal....
http://www.topix.com/forum/us/politics/T4R1N8 ...

Here's 7 records of people speaking out and raising the red flag of a mortgage crisis based on Clinton, Janet Reno, Cisneros, Cuomo forcing prosecution based on "Discrimination" reports generated by Federal Reserve Computer programs:

1) 1992: Republican representative Jim Leach (IO) warned of the danger that Fannie and Freddie were changing from being agencies of the public at large to money machines for the principals and the stockholding few.

Here's one of the best explanations I've read (6 pages):
http://findarticles.com/p/articles/mi_m1282/i ...

2) 1993: National Review dissents Dec 27, 1993 Robert Stowe England

3) As Congress's leading mortgage expert, Representative Bruce Vento (D., Minn.), explains: "We can't take away the judgment of individual financial institutions about what is a good credit risk.

4) Mr. Congdon, an economic advisor to Gerard & National in London and managing director of the economic consulting firm Lombard Street Research. "If it succeeds in driving banks to make bad loans in order to improve their minority-approval rates, this will eventually lead to more foreclosures in troubled inner-city communities. It will also reduce the available capital to credit-worthy borrowers, forcing more Americans to settle for a less attractive home than they had expected..."

5) NY Times 1999
Fannie Mae Eases Credit To Aid Mortgage Lending

...Peter Wallison a resident fellow at the American Enterprise Institute.''If they fail, the government will have to step up and bail them out the way it stepped up and bailed out the thrift industry.''

6) 1999: New Treasury Secretary, Lawrence Summers, became alarmed at Fannie and Freddie's excesses. Congress held hearings the ensuing year but nothing was done because Fannie and Freddie had donated millions to key congressmen and radical groups, ensuring no meaningful changes would take place. "We manage our political risk with the same intensity that we manage our credit and interest rate risks," Fannie CEO Franklin Raines, a former Clinton official and current Barack Obama advisor, bragged to investors in 1999.

7) 2003: Bush proposes what the NY Times called "the most significant regulatory overhaul in the housing finance industry since the savings and loan crisis a decade ago". 1 of 17 proposals.
NObama

El Paso, TX

#19 Sep 6, 2010
After passing the massive economic stimulus bill, the bailouts, the various unemployment benefits extensions, the healthcare reform, the financial reform, the bail for public-sector jobs, the Whiner-in-Chief complains that the Republicans are obstructing his failed policies. Give me a break!!!

What about people that don't work in construction? Where are they going find a job?
tip

Mount Hope, OH

#20 Sep 6, 2010
Methinks Wartime is desperate.
Like Dear Leader.
Crusader

United States

#21 Sep 6, 2010
"Miss Me Yet"????
Danny

El Paso, TX

#22 Sep 6, 2010
Worth watching:

&fe ature=player_embedded#
NObama

El Paso, TX

#24 Sep 6, 2010
What the hell does this mean:

“Some powerful interests who had been dominating the agenda in Washington for a very long time and they’re not always happy with me. They talk about me like a dog. That’s not in my prepared remarks, but it’s true,” he told the union crowd.

Whenever he unplugs himself from the teleprompter, he speaks gibberish. All the people who voted for this imbecile were Punk'd. Hahahahahaha!

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