Obama Gives the GOP an Opening

Obama Gives the GOP an Opening

by Karl Rove

"Team Obama thinks the president, having spent a good portion of the campaign decrying the $2.9 trillion in deficits during the Bush years, can now double the national debt held by the public in 10 years. Having condemned earmarks during the campaign, the Obama administration now believes it can wave through 8,500 of them in the omnibus-spending bill, part of the biggest spending increase since World War II."

"With the Dow at 7,486 and unemployment at 8.1%, Mr. Obama says the economy is fundamentally sound. Does he suppose the nation won't recall him attacking John McCain last September for saying the same thing -- when the Dow was at 11,000 and unemployment at 6.2%?"

"Candidate Obama vowed to end "the same partisanship and pettiness and immaturity that has poisoned our politics." Yet his administration geared up MoveOn.org to lead a left-wing coalition to pressure Republicans and centrist Democrats, organized a daily conference call to coordinate liberal attack dogs, and strategized with Americans United for Change on ads depicting the GOP as the party of "no.""

9.3 trillion worth of red ink over 2010-2019

$1 trillion deficits estimated for each of next 10 years

"President Obama's budget would generate deficits averaging almost $1 trillion a year over the next decade, according to the latest congressional estimates, significantly worse than predicted by the White House just last month.

The Congressional Budget Office figures, obtained by The Associated Press Friday, predict Obama's budget will produce $9.3 trillion worth of red ink over 2010-2019. That's $2.3 trillion worse than the White House predicted in its budget."

Too much spending?

Senate's Conrad sees $1.6 trillion in extra deficit

"U.S. Senate Budget Committee Chairman Kent Conrad said on Thursday he expects federal deficit spending will be about $1.6 trillion greater over the next ten years than President Barack Obama's budget plan forecasts.

Obama submitted his budget outline to Congress last month which forecast almost $7 trillion in deficits through 2019, however a worsening economic picture is expected to make the budget outlook darker.

Conrad told reporters that the additional $1.6 trillion over the next decade was based on projections of the Democratic majority's budget committee staff."

Inflation Ahead?

"IN A dramatic move that took markets by surprise, the US Federal Reserve announced last night it would buy $300 billion in long-term treasury securities and another $850 billion of mortgage-backed securities issued by nationalised financial institutions Fannie Mae and Freddie Mac."

US Fed to pump over $1 trillion into US economy

This is why the dollar just tanked against the euro, the price of oil and gold went up.

Global Warming Update: Democrat Senator Against Cap and Trade

Potential opponents include: Evan Bayh, Robert Byrd, Robert Casey, Mary Landrieu, Carl Levin, Blanche Lincoln, Ben Nelson and Mark Pryor.

8 Democrats oppose debate on global warming bill

"Eight Senate Democrats are opposing speedy action on President Barack Obama's bill to combat global warming, complicating prospects for the legislation and creating problems for their party's leaders."


US cap/trade bill may not pass this year-senator

Right Wing Conspiracy?

I have notice a lot media are saying the outrage of the $160 million in AIG bonuses are a White House diversion. That the White House knew about these payouts way before they expressed outrage. That this is just the "politics of distractions", to divert the attention away from the $50 billion of taxpayers dollars given to foreign banks through AIG.

Chris Dodd AIG admission: Senator says he helped adjust bill to allow bonuses
"Sen. Christopher Dodd (D-Conn.) suffered a political blow Wednesday with the admission that he had been involved in key legislative changes that helped pave the way for AIG to pay controversial bonuses.

In a retreat from earlier statements, Dodd said Treasury Department officials had come to him last month urging him to modify an amendment to the stimulus bill that capped bonuses for firms receiving aid.

On Tuesday, Dodd had said he was not a member of the conference committee that crafted the compromise bill and said the exception had not been in the bill as he drafted it.

But late Wednesday, Dodd admitted he had been involved in the change."

The Right Wing Media is saying that the White House is using Rush Limbaugh, Dick Cheney, and AIG to divert attention away from what they doing. No wonder no one was given a chance to read the bills coming out of conference before they became law.

Will Cap and Trade cost 2 Trillion?

Obama climate plan could cost $2 trillion

"President Obama's climate plan could cost industry close to $2 trillion, nearly three times the White House's initial estimate of the so-called "cap-and-trade" legislation, according to Senate staffers who were briefed by the White House."

""The last thing we need is a massive tax increase in a recession, but reportedly that's what the White House is offering: up to $1.9 trillion in tax hikes on every single American who drives a car, turns on a light switch or buys a product made in the United States," said Michael Steel, a spokesman for House Minority Leader John A. Boehner. "And since this energy tax won't affect manufacturers in Mexico, India and China, it will do nothing but drive American jobs overseas." "