Posted on 09/06/2010 9:14:22 AM PDT by Libloather
President mulls new measures to spark economy
By the CNN Wire Staff
September 6, 2010 10:07 a.m. EDT
Washington (CNN) -- On this Labor Day, the White House will put its focus squarely back on the economy, following a week where the Obama administration concentrated on Middle East peace talks and the end of America's combat role in Iraq.
The address will be the first of two speeches this week in which President Barack Obama will try and frame his administration's response to the recession, less than two months ahead of midterm elections where Democratic majorities in the House and Senate are on the ropes.
Obama will be in Milwaukee, Wisconsin, Monday, speaking at a Labor Day event in a state that has extremely competitive gubernatorial and U.S. Senate races.
**SNIP**
Obama plans to work with Congress to enact a $50 billion "up-front investment," and then pair it with "a long-term framework to reform and expand our nation's investment in transportation infrastructure." the White House statement said. "As with other long-run policies, the administration is committed to working with Congress to fully pay for the plan."
The long-term framework includes establishment of an Infrastructure Bank "to leverage federal dollars and focus on investments of national and regional significance that often fall through the cracks in the current siloed transportation programs," the White House said.
However, a CNN/Opinion Research Corporation survey released Friday indicates the White House has some work to do to win over the American public on its ability to manage the economy.
(Excerpt) Read more at cnn.com ...
An Infrastructure Bank?
What will he call it?
We’ve already got Fannie Mae and Freddie Mac, which has has done absolutely nothing to control.
How about calling this new operation Hussein Mad?
Fannie Mae, Freddie Mac, and Hussein Mad.
You got it!
The entire purpose of this proposed union slush-fund "bank" would be so the pinky rings can more easily launder (and plunder) tax dollars
Pass nothing just get out of the way and clean the books.........but no, they all think they have to pass a law named after a child and tell us how great they are, god only gave us 10 laws, we should return to that.
He thinks he is FDR and is hell bent on proving that he can be FDR. What a FOOL!!! America is done with Big Government.
Inclined to think the fiscal ignorance is there, though, add a few curious words to persuade uninformed of superior knowledge, have an alternative motive, and there you have it.
To help with voter fraud.
He and his Socialist/Communist cronies care not ONE bit about the rest of us.
Just a reminder, there are NO federal dollars, only taxpayer dollars and every damn one of them belong to US! Never forget.
Oh, gee, an Infrastructure Bank. How cute. And how many unionized federal workers will need to be hired for this payback project? Sounds like something else to be put on the "defund it" list for next year.
And while I’m screaming in frustration about this, would somebody please explain to me how one goes about “leveraging” taxpayer dollars?
He's not trying to 'Spark' the economy, he's 'Spanking' the economy.
Infrastructure Bank = Earmarks
Not content with having poured sugar down the gas-tank the Man-Child is going to put sand in the carburetor. There has got to be something that can be done to stop this moron before he takes us all over the cliff. If Republicans take back the House and Senate impeachment hearings should start forthwith!
Yep, I like the way the article just calls it a "labor day" event/gathering (whatever). He was at a Union sponsered Labor Day event and stood on the platform, probably with some union guy, telling the crowd that more "govt" (read, taxpayer) money was going to be on the way.
Also, I don't think they have spent the whole of the "stimulus" have they? Why not use the rest of that money?
Fears Rise as EU Nations Aim to Raise Borrowing
The eurozone debt crisis is about to enter a critical phase as governments prepare to step up borrowing in the capital markets to fund their faltering economies.
Some strategists are warning that some of the weaker economies could fail to raise the amount of money they need as eurozone governments attempt to issue double the amount of debt this month compared with August.
Eurozone governments will try to raise €80bn ($103bn) in September compared with new bond issuance of €43bn in August. Spain is expected to attempt to borrow €7bn in September compared with €3.5bn in August, according to ING Financial Markets.
Spain, Portugal and Ireland , so-called peripheral eurozone economies, are considered most in danger of being shunned by investors as worries persist over the health of their banks and economies. Greece is no longer a concern because it has emergency loans to cover its funding for the next two years.
Thx thx.
I’m not a registered member of FT, but I appreciate the reminder that the EU nations are bankrupt and set to deflate nicely into the global depression, as are we. Good reminder and thanks for the heads up that they are at another milestone. Really, thanks for the tip.
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