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Obama Administration To Sink Money Into Infrastructure Bank

August 16, 2011 by  

The bank that would be created is an effort by President Obama to receive private funding for these projects, as low interest loans would be offered.The Administration of President Barack Obama is pressing Congress to create an “Infrastructure Bank” to help finance rail and highway construction, The Wall Street Journal reported.

Officials from the Administration have noted that the bank would be a new government entity that would provide loans to support public-works projects in both regional and national sectors. The bank that would be created is an effort by Obama to receive private funding for these projects, as low-interest loans would be offered, according to the newspaper.

The fund is a response to the lack of money that has been generated by the gas tax, as this levy has not been enough to provide the necessary resources to keep the Nation’s infrastructure at a sustainable level, according to the article.

Obama and his White House staff have been floating the notion of infrastructure improvements over the past several weeks in an attempt to use this issue as a possible solution for the down economy and high unemployment numbers, Fox News reported.

This investment may act as a way for the Administration to get money from companies to support public projects, according to the news source.

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  • Karen

    Just what we need another government agency with unlimited supervision to spend more money. Can you say NO!

    • karel Eekels

      Begins to look like the former USSR!

    • Bus

      Stupid is as stupid does.

    • ANNE

      I say no to anymore government committees and I not only say no, BUT HELL NO. The congress should figure out the budget and any other issues that plague this country by themselves, that is what they get paid to do, and I might add they get paid quite handsomely, so stop with the bull crap and do your jobs.

  • Cliffystones

    How about we just tell Warren Buffett to put HIS money where HIS mouth is? Nawwww, we’ll just pi$$ away more money creating another f-ing government bureaucracy. Oh joy!

    • Warrior

      Right on! The sage keeps railing for the super rich to pay more in taxes along with his buddy ‘ace’ greenberg. Why don’t you two step up to the plate at your next railing session, pull out your checkbook and write a check to your favorite guvmint program. Show us fellow Americans how really serious you are about pitching in. Oh, and the fraud in chief may join in with you because he claims he can pay more. But, he doesn’t either.

      What’s wrong with this picture?

      • http://?? Joe H.

        here is a man that has one foot in the grave and another on a bannana peel and very few heirs and he is telling all the rich to pay more in taxes!! The younger ones out there are the ones that will still be trying to build on their portfolio by starting businesses and investing in America!! Take a big chunk of it away and you will see less investment!! I still come back to the age old question; Have you ever gotten a good job from a poor person???

        • eddie47d

          There are allot of poor people who do a good job and should be respected for their hard work.

          • http://?? Joe H.


          • Mike in MI

            e47d -
            Yah, a “good job” running to their local welfare orifice to do all the hard work of filling out all those heavy to lift forms and on-line butt sitting applying for every sort of aid they think they should get – and then getting mad (seriously wrathful, spiteful and disgustingly foul-mouthed at their case worker) when told something they want is against state/federal policy. True union mentality and government tit-sucker slime.

        • Robert Smith

          Really? With taxes at their lowest for the rich in quite awhile how’s come unemployment is so high?

          BTW, do YOU make more than $250k?


    • Nadzieja Batki

      Why is anybody listening to the senile old goat?

      • Robert Smith

        Because Buffet has made bunches of money and is setting an example.

        Why do you feel you need to rip him down just because you disagree with him?

        BTW Do YOU make over $250K?


  • dan

    Can you just say : SLUSH FUND

    • Mike in MI

      dan – Can I say it? Yup! Obama’s private swimming hole and he’ll be the only one who gets a ladle to drink from the cess pool.

      Sounds to me like his next move will be to get rid of Muni Bonds. Then he can decide who gets to build what, where, when, how and with what union corner-cutters.

  • wandamurline

    We don’t need no more stinking government. What we do need is to clean up the mess and do away with all the departments in government that are not backed up by the Constitution. God, can we make it to 2012? I have never been soooooo tired to listening to the most progressive liar in the world. You cannot spend your way to prosperity and that is a proven fact…but this guy still cannot see that government is not the answer to the problems…government is the problem.

    • Chris Knight

      I respectfully disagree. Reagan ramped up spending in the early 80′s while lowering tax rates and effectively won the cold war while launching the US on an impressive three decades or prosperity. Remember that as long as the US dollar is the worlds reserve currency and as long as the US retains is monetary sovereignty, we really are masters of our own destiny. The only things that can derail us are God, inflation and to some degree pressure from other nations. Of course something unexpected like a massive loss of life due to attack, disease or war would call off all bets, but the reality is as long as we can meet the demands placed on our country in the form of production we really can continue the charade indefinitely. Its forty years today that we’ve been fanning our fiat currency about, buying this and that, building our military, exploring space, exponentially beating the rest of the world in inventions and creativity. I say continue, in fact double down! When you’re sitting at a winning table you don’t get up. We are still winning because we are still able to buy commodities at prices (in adjusted dollars) below the rate of inflation (with the exception of precious metals). I am not a socialist, I am a capitalist. But I have no problem with our Federal Government taking the lead to rebuild our infrastructure. Our bridges and our water pipes are failing at an alarming rate throughout the country and its a no-brainer to put people to work making improvements. Put politics aside and spend away! Get ‘er done!

      • http://?? Joe H.

        As far as those water pipes, the water and sewer bill you pay is supposed to take care of that! The water companies are supposed to put aside a certain portion of their profits for maintenance of the equipment, lines included!! Think they are doing their job well? We filter all our drinking water as I don’t like the taste of chlorinated water. We were giving our dog water straight from the tap. well, our pup started to get sick every night. We started to give him water from the filter and now he doesn’t get sick at night anymore!! Say what you want but I’m not a firm believer in coincidence!!!

        • Chris Knight

          Unfortunately the 20 year replacement assessment is over $330B I kinda don’t think our water bills are going to cover it. So here again is the rub; do we let it break? or do we agree to borrow and fix it. The real issue is that we need to think about money and the economy differently than we do. It is after all our creation. It is not a fixed physical thing, not in any sense. The only economic law is of supply and demand. We really can spend our way to wealth, in fact it is national suicide at this point to do otherwise. There will be no good outcome of crashing the system. Many conservatives are focused on stopping the spending and the growth of government at all costs. But be careful what you wish for. A global economic meltdown will surely usher in something other than our fathers America.

          • Robert Smith

            Posted: “Many conservatives are focused on stopping the spending and the growth of government at all costs.”

            I don’t understand why the continue to stick up for the super rich at their own expense. I could understand if there was something in it for them (maybe they all make over $250,000 and want to enslave the rest of us).

            Don’t they realize that it’s the roads they use too? Same water pipes, same street lights, etc.

            BTW, remember, these are the same nuts who wanted the utilities broken up so you can choose who is going to bill you leading the corruption like Enron.

            Utilities used to be among the most regulated but SAFEST investments of all. Now, they are junk and a gamble just like the rest of Wall Street.


          • Nadzieja Batki

            What did you babble? It is government spending that needs to be curtailed, not setting itself to do jobs that were never intended for it.

          • http://?? Joe H.

            chris Knight,
            In Lake county, the average water bill is about 200.00 a quarter. multiply that by the population of 227511, that comes to 45502200 dollars a quarter. that’s 45 million a quarter! that comes to 135 million a year. that comes to 2,700,000,000 in twenty years. now take say 25% of that and take into account that not all lines are replaced at the same time and you will see that they have enough to maintain them. This is just RESIDENTIAL bills. commercial are higher here!!

      • Mike in MI

        Chris Knight – Bull!
        If you think those things are all right and proper, if you think we can continue to steal from those who loan us good wealth by continuously inflating our currency, if you think God will stand with us after we have converted our system to something (and people with attitudes) He says He despises then you are one among those who He says in His book of Wisdom – Proverbs – are theives and murderers. Almost all the things you praise in your post I can show you in the Word are evils God speaks to STRAIGHT UP.
        If you think He’ll stand with you – or anybody who does that stuff, (“Christian”, “Judaic”, pagan or pantheist)- you’re about to drop into the slit trench outside the city walls.

        • Chris Knight

          Thats harsh, but okay, show me

        • Robert Smith

          Another threat from the right wing god worshiper.


          Why don’t you just prey to your god to fix things? Why do you keep blaming others for your god not getting the job done?


          • knights templer

            Robert Smith, You squat to pi$$! Your an imbecile at best. Your God is Obama that is clear. YOU and your kind are obtunded, have a disease called laziness and clearly, like your boy friend obama are communists and think others should pay your way, give you something for nothing and penalize everyone for working while you sit on your A$$, draw welfare and food stamps. Your problem is you don’t have God or morality in your life, something you and your kind obviously are lacking and incapable of. You’re part of the problem dartos breath.

          • Robert Smith

            Why do you lie about me Templar? “Your problem is you don’t have God or morality in your life…”

            Not YOUR brutal god that knocked up a twelve or thirteen year old girl, Mary, so his son could be tortured to death and then eaten every Sunday.

            Remember that transsubstanciation thing? That’s where the bread and wine actually TURN INTO the flesh of your Jesus.

            Ug, canabalism. How nasty.


          • http://?? Joe H.

            Gee Robert,
            According to you, they are just eating ACORNS!!! DAMN! YOU MAKE IT SO DAMN EASY!!!

        • Chris Knight

          I might point out the much of the “good money” we are lent is just as much smoke as the dollar! Its all a charade boys and girls, its all smoke and mirrors and its easy even tempting to shout that the emperor has no clothes, but to what end I ask? The fact is it is way too late to go back, we either use our clout to build and create or we throw in the towel. There are problems in this country, but chief among them is a lack of motivation among the masses. Too many of us are guilty of malingering. We need to redouble our efforts and if it takes some “fiscal stimulus” to get us up and at’em lets do it! But lets make sure this time the money is actually directed at roads, bridges and utilities; not at Hollywood and the “arts”!

    • Robert Smith

      wandermurline asks: “God, can we make it to 2012?”

      Pray, pray, pray. See what that gets you.

      Meanwhile the roads are full of holes and bridges are falling down.


      • http://?? Joe H.

        And so is your house built on sand Robert!!

  • Keith

    I thought the fuel taxes, road use taxes/permits and vehicle license fees were to be used to maintain our roads and bridges? Where has that money been siphoned off to?

    • Robert Smith

      Question asked: “Where has that money been siphoned off to?”

      A couple of wars started by George W. Bush.

      Tax cuts for the rich compliments of GWB.


      • http://?? Joe H.

        Mr. Smith,
        Since when does giving a group a break on the amount of taxes they pay equate to giving them money from the road use tax?? Quite a leap even for you!!

        • Robert Smith

          Hey Joe, how ‘ya been!

          And! Bush still started two wars and ruined the economy.

          Clinton left us with a balanced budget.


          • http://?? Joe H.

            And nobama thought it was such a good Idea, he got us involved in another!!! WITHOUT the consent of congress, I might add!!! If he gets back in, watch Pakistan!!!

      • http://deleted Shirley Jones

        oh for pete sake!!! quit blaming poor old George for every single thing that goes wrong with Obummers reign… it’s about time he takes responsibility for his office… at least George never used excuses for what he did in his terms.. and he had democratic senate and congress backing him up…. do not give this poor excuse for a president any more of our money to spend… and I hear the famous panel is messing around with military pensions… why don’t they start with congress and senate and presidents pensions… same rules should apply….

        • Jana

          Shirley Jones,
          I agree. Congress certainly gives themselves lavish pensions as well as expense accounts!

          • Mike in MI

            Surely, Shirley and Jana – Those monies Robbie S talks about went paying for Robert Byrd’s and Jaybird Rockyfellow’s WVa booniedoggles, paying for the bribes and democrat earmarks to pass Obamascare, paying for the subsidies and promised goodies to democrat lobbyists representing democrat banks, crony crapitalists and Nat’l. Educ. Ass’n./ University grantees for teaching blatant lies to children and overturning the heritage of a once wonderful country (which, history shows always leads to catastrophic destruction).
            If God favors a people, showers His blesings upon them and they turn around and give Him the old one finger salute…it usually doesn’t work out well for them at the final curtain.
            But, good ol’ Robbie doesn’t care much for such stuff, so he’ll swim in the cess pool with his favorite Haa

          • Robert Smith

            About your god: “and they turn around and give Him the old one finger salute…”

            We need to turn around because that’s how we are getting screwed.

            Some god you got there. Had any good inquisitions lately?

            Ohhhhhhh and that canabalism.


          • http://?? Joe H.

            since you call unborn infants acorns, then when is eating oak trees cannibalism???

      • Song

        Robert can’t you come up with anything new? You are nothing more than a broken record..broke…broke…broke…broken record.

        • Robert Smith

          Middle class and broke because of a couple of wars and a broken economy stolen by Wall Street.


  • eddie47d

    America’s infrastructure should be a top priority. If it wasn’t for the Stimulus money I doubt if even those projects would have gotten off the ground.We have 121 bridges in Colorado that are in serious need of repair. Only 6 have been completed and 18 are being worked on. The rest will have to wait which means other bridges will be added to the list as time goes on. Why some folks insist that they can ignore repairs even while knowing some will fail if this continues isn’t the smartest thing to come out of the mouths of those who put off the problems. Maybe some of you really do want this country to shut down and cripple itself. As I stated yesterday the Federal gas tax is only $.18 per gallon and hasn’t gone up in a couple of decades. We are regressing as a nation and no longer have the ability to pay for needed repairs. We are penny wise and pound foolish.

    • mar

      Several problems with this so-called infrastructure fund. 1. Where will the money come from? We are already so far in debt we will be drowning when we borrow more. If the gov was going to take the $ from stupid stuff like money sent to China to teach prostitutes to drink responsibly (WTF) that would be one thing but the gov has no intention of limiting programs that have not worked in the past.
      2. This slush fund would be administered by only the administration. They have already wasted a huge stimulus fund and now they want more $ to waste on non-shovel ready projects.
      3. The more money the gov has the more money they waste.
      4. The plan is to loan $ to private companies to improve infrastructure. Loan?? How do they make money from that to pay back the loan? Toll roads?
      Use the money we pay more wisely and you would not have to raise taxes.

      • http://?? Joe H.

        Very good point about the squandering of funds. Look at social security! Had the government kept their hands off of it, it would be solvent for yet another 20 to 30 years!!

        • eddie47d

          SS is good until 2036 so it is solvent for 25 more years.President Johnson did take money out of SS for Vietnam and social programs and that was a bad precedence.

          • Robert Smith

            Remember how Bush wanted to privatize SS and turn it over to companies that could abuse it like Enron did with energy.

            Let’s see… No SS from Bush and something for the extreme right to gripe about from Obama.

            I’d rather get my checks when I’m 65, not rely on Wall Street.


          • http://?? Joe H.

            that is only if you figure in the IOUs the government put in and they can’t pay it BACK!!!

      • peter

        Have we forgotten that the dollar is sovereign and that we can just go on printing as much as we like and that the rest of the world will just have to accept that. Where do you think we get all the money from that we give to all those dictators all over the world? We just print it man, it’s so easy. There is no limit to what we can do with Wall Streeters and our never ending printing machine – yes we can! yes sir – yes we can! As long as we can print money and dictate to the world we remain invincible – that is right – invincible.

    • john

      So, Eddie, what has CO been doing all these years besides letting the bridges rot? Why should I in Ohio fix YOUR bridges? You gonna pay for our bridges? Besides, doesn’t CO have a gas tax – I bet it does. Raise it before you come crawling to the rest of us.

      • Robert Smith

        Question asked: “You gonna pay for our bridges?”

        Are YOU paying for Ohio bridges? What shape are they in? It’s my understanding that no state is really up to snuff on their infrastructure.

        Shucks, lots of places can’t even plow snow because someone forgot to notice that it snows where they live and didn’t budget correctly.


      • eddie47d

        John in Ohio; It’s the Republicans and Conservative voters who refuse to raise the Colorado taxes to pay for improvements. So much for allowing states to manage their own infrastructure.It’s the same attitude in their ranks in Washington. Do you sit and watch TV while the roof is leaking? Most states are in a holding pattern now and that is understandable but our Republicans voted infrastructure projects down when the economy was good.

    • Earl Z.

      Colorado has followed the D.C. practice of areassigning road and bridge repair to social programs. The previous gov, Ritter, has implemented exhorbant fees in the vehicle registraton for these repairs… utility trailer registration was $12.00 vs $39.00 now.

      • eddie47d

        That was quit a jump in fees but it did get some urgent projects off the ground.

    • Jean

      Getting the job done is one thing. Giving Obama more control over anything is the problem. The gas tax won’t help anyway. More people are driving less because of the economy. So less gas will be used. If Obama got rid of the 1100 + regulations that are causing so many businesses huge amounts of money & let Obamacare be repealed, more companies would start hiring, which in turn will create more jobs, which would generate more revenue, & those bridges would get fixed. Businesses won’t hire knowing how much taxes & regulations will stifle them. Many businesses will close due to all of Obama’s regulations. Things need to change, starting with getting the idiot out of the white house that is anti-business, anti-capitolism, & anti-military.

      • Robert Smith

        Just saw on “60 Minutes” that business had BILLIONS cash on hand overseas.

        How patriotic of them to just skip out.


  • Keith

    Eddie47 you only mentioned the federal tax, most states have fuel taxes and charge for over-weight and over-sized loads using the roads as well. Penna. has over 7 million cars (at $36 each is 252 million dollars) and just as many trucks (with much higher fees) and other vehicles. How often do we see 4-5 guys on a road project when 2 or 3 could get the job done if they actually worked? And of course they are all public unions, so we know what that means. I recently passed a street storm water inlet replacement project on my way to/from work. It took the street department a week to do what a contractor would have dome in a day and a half (I know because I do that type of work!) I’m all for fixing and maintaining our infrastructures, but let’s examine the process, both funding and execution, before wasting more tax money on another bureaucratic slush fund that only benefits a few politically connected.

  • Alex

    First and foremost, no private company is going to be interested in borrowing money from the government to build or repair infrastructure when there is no lasting profit or productivity in doing so. Infrastructure doesn’t generate revenue. I can’t imagine a single entrepreneur being interested in such an alleged business venture.

    Second … where is the money to “loan” to the entrepreneurs going to come from? News flash … the country is broke and functioning at a deficit.

    Third … there would be enough money to develop or repair infrastructure if the tax revenue that is already coming in were not being sent back out in foreign aid, occupation of foreign countries, maintaining a standing army, providing extended unemployment benefits, and funding several dozen new agencies or committees. The problem is that the government has fine wine taste on a beer budget. They want to throw money at everything that comes across their plate, but there’s not enough to go around.

    Fourth … infrastructure spending will lead to exacerbated unemployment and a recession. You can’t interfere with the natural order of things without causing ripples somewhere else.
    One of the biggest chunks of that stimulus package went to government projects. It’s like Keynes himself came back from the grave shouting, “fill the gap.” It has his Consumption Function and Multiplier written all over it. If you put government borrowed money into public works projects, the theory, according to Keynesian economics, is that it provides employment and wages. Those wages are then put to consumption spending, which stimulates other aspects of the economy, such as shoe sales, or cucumbers, or what have you. But due to the horrible thrifts out there who save their money instead of spending it for the common good, we are left with gaps between the increase in money wages and the amount spent on consumption. That gap has to be filled through government spending in order to keep the flow of spending moving forward.
    This is hogwash. The problem is that the government money is being spent on things that are not necessarily needed. If entrepreneurialism has shown us anything, it’s that where a need exists, someone is always ready to profit from it. If a park needed to be built (i.e. if there was an actual community demand for such a thing), an entrepreneur would capitalize on it if there is a profit to be made.
    When projects are initiated by the government that do not yield a profit or some form of continuing production, the result is employment, followed by recession. A recession that is the result of malinvestment. If you commission the building of a bridge, for example, it will result in at least temporary employment. That employment will pay money wages to the workers who will spend that money in the local bar, at the hardware store, the grocery store, etc. The recipients of that consumption spending will spend their earnings on their own consumption needs, and the recipients of those consumption expenditures will spend according to their needs, and so on. But when the bridge is done being built, the party stops. Unless the bridge in its completed form is going to continue to employ those same workers, or will somehow create production in another form by its utility, its usefulness has just come to an end.
    But the repercussions are a little deeper than that. The businesses that hired workers, increased stock, and otherwise spent money due to the increase in demand caused by the consumption spending of the bridge workers, will suddenly find themselves with a loss of expected revenue. They may default on debts they might never have taken on. They may find themselves with consumable goods that they can’t sell because they no longer have a ready market for them. They’ll have employees they can no longer afford to pay. So the bridge got built. Some people were employed. And when the bridge was finished, it resulted in worse unemployment than existed before the bridge project, recession on at least a local level if not worse, financial hardship for the local economy, reduced state tax revenues, reduced federal tax revenues, increased unemployment benefit pay outs, and a number of other things.

    But at least you got a new bridge that people can drive across that doesn’t generate a dime of revenue to pay for itself or to continue employment for those who built it and “stimulated” the economy. Great way to malinvest!

    • 45caliber

      I agree.

      • Jana

        Very good post. However,I would like to point out that when a private sector contractor gets a bid for a project such as repairing a bridge, they hire workers who know they were hired for this particular project,and know that it is NOT lifetime employment. Most contractors go by the job, and know how much they can spend on materials and any other equipment needed in order to make a reasonable profit and pay their bills.

        Actually the scenario you played out for your particular company is what the Federal Government and even Unions do, and that’s why we are in the mess we are in.

        This is the difference between Government jobs and private sector jobs. The only problem right now is we have a man playing President that wants to hire only UNIONS. So your scenario is right on.

        • Alex

          Understood and agreed. My beef is not with building or repairing bridges. It’s with the government interfering, printing a ton of paper money, raising taxes and inflation, stealing bids from those companies that might have done the work, exacerbating unemployment, etc.

          • Robert Smith

            It isn’t government that’s exporting jobs, it’s CORPORATIONS.

            Why should we trust them at all? Remember, Enron? Remember how many have their “offices” in Switzerland as a tax dodge? How patriotic of them.


    • Chris Knight

      By your logic, we should never build a road, a bridge, a house, a skyscraper? ?! Where does it end? Thats the most illogical argument I’ve ever heard! Nothing lasts forever, get over it, nor does every endeavor produce a profit. It does not dictate that we avoid it. This nations bridges and water pipes are seriously deteriorating, many systems are way past their useful lives and all while we have unemployment approaching 10%? Put people to work fixing our infrastructure and you kill two birds with one stone. That it will only last 3 -5 years okay, but you’ll have launched millions of people on new careers all while rebuilding our crumbling country! Pretty good investment all things considered.

    • Robert Smith

      Alex says: “the country is broke and functioning at a deficit.”

      Yup, thanks to GWB. Clinton left America with a budget surplus.


      • http://?? Joe H.

        Prove that clinton left a surplus by using the GAO site!!!!

  • Raggs

    I knew this P.O.S muslim would BLOW millions more of our money on the unions as soon as he got his wish of the debt ceiling being raised.

    • 45caliber


      He NEEDS that money so they can pay part of it back to him in campaign contributions. That way he can try to buy the election again. And if that won’t work, he can get and keep plenty to insure he doesn’t suffer once he’s kicked out of office.

  • newspooner

    It sounds like just another bookkeeping trick to facilitlate more expenses being kept off-budget and otherwise deceiving the public on just how wasteful government is.

  • John P.

    All politicians are the blame. But this administration went over board. All they do is spend. When will they listen to the American people

    • 45caliber

      Only when they are forced to do it.

  • 45caliber

    Has anyone looked at your local infrastructure lately?

    Does it need fixing?

    Well, the railroads do. Back in the earl 70s, the government stepped in to rebuilt the rail lines to the tune of several billion. The railroads immediately stopped maintaining their rail lines. No need to spend that money if the government does it, is there? However, I’m not really interested in increasing their profits.

    But the highways? If you look at the main highways such as interstates and regional highways there is little or no problem. All are kept in good shape. Local streets can be bad but they wouldn’t be fixed with this money.

    The whole thing is meant to simply provide the country with more highways so the military can move faster. We don’t really need this.

    • Alex

      All the roads in the country won’t change the number of guns in the hands of the American people. I for one will not submit to oppression willingly. If they want my guns, they’ll get them muzzle first.

      • Jana


        The problem with people like you is, You are a thinking man. You know your facts, you know your rights, and you are armed. That is why they are trying to portray people like you (my husband and I fit in this catagory too) as terrorists.
        We terrorize the daylights out of Socialists and Communists.
        What they fail to realize is, what we are really called – -We are Patriotic Americans.

        • Raggs

          They have a list of all legal gun owners and we are the ones that they will come after first… I’m ok with that tho…. I have plenty of ammo.

          • Alex

            They won’t like the results. I won’t be the one to fire first. I won’t be the one to start the revolution if such a thing should come about. But I won’t be counted among the cowards either.

        • Alex

          Amen to that sister!

    • http://?? Joe H.

      In our city, we were given the chance to vote on a road maintenance tax being added to our city taxes. The money as written can be used for nothing BUT road maintenance. Each year they take the available funds, pick a number of the worst roads and the CITY repairs them. A small amount is reserved for pot hole repair as well. I have to give them credit, the roads are pretty well kept up and the crews work their assets off from what I have personally seen!

    • Raggs

      Thats a good point .45, I never thought of it that way… afterall oblama wants a civil military force to control ue all.

  • D Dude

    Let us hope it does not happen. Totally unnecessary and another problem.

  • MNIce

    As Alex and mar pointed out, we don’t have the money to capitalize this proposed “bank.” Besides that, the track record of Federal Corporations has been dismal. Every one of them has created distortions in the market that either ran up costs for everyone (Federal Reserve, Federal Student Loan Corporation) or crashed the market (“Fannie Mae” and “Freddie Mac”).

    Mr. Obama has not explained how this “bank” would be an improvement over the private market for state highway construction bonds – probably because he cannot.

    If states, counties and cities fail to allocate funds for basic maintenance and replacement, why should the Federal government force people from other states to pay for their shortsightedness? Eddie47d uses his home state as an example of inadequate infrastructure funding. To him I say, it’s not my fault Colorado is so inefficient. If Colorado doesn’t have the traffic or population to fund its existing highways, maybe it has more highways and bridges than it needs. The state should consider downgrading the capacity of or closing some of its less-traveled roads.

    There is an old federal law on the books that prohibits recipients of federal highway funds from requiring a long-term warranty on contractor work (Democrats passed it to ensure contractors and their labor unions get repeat business). Even the Swedes and Norwegians are smarter than that. We can do a lot more good by repealing that regulation than by blowing more funny money over the bridges. When states can demand long-term warranties, private contractors will have the incentive to develop more durable infrastructure designs and construction methods. Until that happens, the lowest bidders will keep doing things the same old way, and we’ll still be behind on infrastructure upkeep.


    As a leader, Obama is hopelessly stupid and uninspired. As a conniver, he is astute. Therefore, I denounce any and all of his schemes. I am all for small, limited Federal government. Let the localities take care of infrastructure, not DC. Every Federal govt. boondoggle serves the Power Elite, not the average person. Look at the huge salaries the bosses at Fannie Mae and Freddie Mac got. Obama is drowning in failures; lets make sure he can’t get any air!!!

  • http://msn Kerri

    The first simulous was supposed to have been to put people to work on road and infrastructure projects. What happened to all that money O.? Didn’t go for bridges and infrastructure did it?
    Now you are trying to pull the same peice of wool over our eyes again?
    And, just where are you going to get this money? Oh yes, print and borrow. We are now over 16 trillion dollars in debt with a trillion dollars or more deficet. AND YOU WANT TO SPEND MORE MOENY!
    I bet you never got a spanking when you were young did you. You know how i know that? Because you still keep making the same mistakes over and over again. And constantly blame everyone for your own failures.

    • eddie47d

      Actually it has been used for infrastructure> I see the signs everyday along work projects. Soon that money will dry up too so it all depends on what you want our roads to look like in the future (as in a few years).There is way too much backlog in projects and some will be put off again.

  • Jay

    Thousands of progressive activists meeting in Vegas
    By: CNN Senior Producer Kevin Bohn

    Las Vegas, Nevada (CNN) – Organizers of the annual Netroots Nation convention, beginning Thursday, hope what happens in Vegas does not stay in Vegas.

    With the president’s poll numbers hurting and chatter increases about the possibility of major defeats for Democrats in this year’s mid-term elections, sponsors of the fifth conference hope the ideas and techniques that emerge from the participants will help propel the progressive agenda and spur action by the more than 2,200 progressive activists participating. It is billed as the largest gathering of the Democratic base in advance of the November election.

    While the president still has an over 80 percent approval rating among Democrats, it has slipped a bit. As for the Democrats running this year, they are facing a large enthusiasm gap. Only 32 percent of Democrats said they were extremely or very enthusiastic about voting this year compared to 54 percent of Republicans, according to a May 21-23 CNN/Opinion Research Corporation Poll.

    Some 80 groups and organizations, many of them key constiuencies of the liberal wing of the Democratic party, are sponsoring NetRoots, including the AFL-CIO, SEIU, AFSCME, MoveOn.Org as well as the Democratic National Committee’s Organizing For America wing.

    There are over 150 different panels during the four-day event, ranging from voter contact: warming up the cold call; to channeling the power of jobs, populism and the angry voter; to how to respond to attacks on community organizers. Those sessions include a wide variety of activists, Democratic Party leaders, officeholders and candidates.

    The convention occurs at a time when some in the progressive community are disappointed in the Obama Administration for not pushing harder for more of their agenda. Specifically they point to the exclusion of the public option in the health care overhaul and some of the nation’s biggest banks were not broken up in the financial overhaul package just signed by the president. Other attendees however have blamed Congress for blocking some of those actions, especially in the Senate through the use of the filibuster, and say that is why more Democrats need to be elected.

    How to shrink that gap will be one of the key topics among attendees. Among the major speakers at the convention are House Speaker Nancy Pelosi, Senate Majority Leader Harry Reid, Sen. Al Franken and Montana Gov. Brian Schweitzer. Also speaking at a seminar is Elizabeth Warren, chairwoman of the congressional panel that oversees the government’s bailout programs. Several progressive groups are mounting a petition to encourage the president to select her as the first head of the Consumer Financial Protection Bureau, which is part of the newly signed financial reform law. She has ruffled some in the administration for being too vocal in her actions.

    Also present will be a large group of progressive bloggers. The convention, formerly known as Yearly Kos, first began with a technology and blogging emphasis as activists increasingly gathered on line to influence government action. Now it has morphed into a more general gathering for the wide range of progressive interests and organizations as well as those who want to use new media to communicate. Several of the panels emphasize that topic, including using new media to break through barriers, online to offline engagement and extending our reach: new tools for online progressives.
    One interesting attendee is Transportation Secretary Ray LaHood, a former Republican member of Congress. He is participating in a panel entitled Bikes, trains, stimulus and the Obama Cabinet’s biggest surprise.

    Meanwhile, about 1,000 conservatives will also gather in Las Vegas this weekend in a convention to counter NetRoots. On Friday and Saturday RightOnLine, sponsored by the group Americans for Prosperity Foundation, will feature Nevada Republican Senatorial candidate Sharron Angle, Republican Reps. Mike Pence and Michelle Bachmann and several conservative radio talk show hosts. As is true with NetRoots, sponsors of the conservative version aim to teach attendees how to become more effecitve in online activisim and with new media.

  • Bert Cundle

    What is the Federal Resurve??? A Credit Union? Where does the Tax Revenue, Meet? Government Finance… Magicians! Slight of hand…
    $$$.$$$,$$$,$$$.$$ … Disapear…

  • Bert Cundle

    The net worth of households and nonprofit organizations in the United States is published by the Federal Reserve in a report titled, Flow of Funds.[129] At the end of fiscal year 2008, this value was $51.5 trillion.
    Before O’ B.

    • Bert Cundle

      is the balance sheet as of July 6, 2011 (in billions of dollars):

      Total Assets: 2,914.51

      Total liabilities: 1,263.73


  • exbobbie

    ‘This fund is a response to the lack of money that has been generated by the gas tax’. Well “No s**t Sherlock”, why the hell do they think the gas taxes shrunk, it couldn’t have been that people are buying less gas because of the rise in price, NO that couldn’t be it, I mean I just love paying $3.90 a gal here in LaLa land, has been as high as $4.25. Don’t you just love these lib morons. California is a typical example of what libs can do when they have total control. California used to have a major aerospace industry, literally paying millions of dollars in taxes until almost all of them were driven out by over regulation and even higher taxes, and remember all those high paying jobs went too, so there was another loss of tax revenue. Then all of a sudden our ruling Dems in Sacramento were running around screaming “Where did all our money go”, and now it’s gone from bad to worse, I swear these people couldn’t organize a p**s up in a brewery.

    • Bert Cundle

      DID you forget the Elegal: Intruders, Invaders – RADERS? (LOCAST)

  • AJ

    Who’s pockets is the money really going to end up in?

    • Bert Cundle

      POPE JOHN PAUL & MARY MEN! In the Vatigan Forrest!



    • Bert Cundle

      There is no REQUIREMENT for a Politican to keep their Promice!!!

      • Jana

        Especially it seems, from the voters!



  • richbrat

    Actually the idea of a national infrastructure bank is a good idea, especially if directly funded without borrowing from the Fed or other countries. It’s the Federal Reserve, traitor corps and fickle investors moving/funds overseas that economically destroyed this country. We need to prevent the markets from being thrashed and prices driven into the stratosphere by mere investor sentiments.

  • exbobbie

    Sorry Bert, no I didn’t forget them, how could I they are everywhere. I was talking primarily about the two billion dollar short fall as a result of large manufacturers like aerospace leaving California because of anti business regulations and taxes. There is talk of trying to split California into two, Northern and Southern, I sure hope it can happen, we in the Southeast of California (predominantly conservative) are sick and tired of the looney lefties in this State, the split would start in LA and up.I am sure you heard about the wonderful Chief of Police in LA who changed the rules at sobriety checks. Now only cars belonging to citizens and LEGAL aliens will be impounded if you have no drivers license, ILLEGAL aliens get to go free because it’s not their fault that they can’t get a license, GO Figure. We are not called LA LA LAND for nothing. Please pray for us conservatives on this other planet.

    • Bert Cundle

      The Real Problem is: The number of Elegals, is in a Tiney Part of the Refugees Brought by our GOVERNMENT! Now Here In There Own Communities… Speaking Their Own Language, And Our Way of Life to CONFORM To Theirs! All Languages on the Balots, to elect, our Govrtnment Leaders. Real Citizens… What does it take to Get Our Country Back?

  • paintbrushbright

    Obama is preparing to put the last nail in the socialist coffin. Are we going to let him bury us alive? This fool has not listened to America-WE ARE BROKE-keep your hands off my children’s credit card.

  • chuckb

    barry would love something like this. the bank could fund lots of union jobs and that would turn into lots of votes for barry come 2012.
    this guy hasn’t a clue what is going on and he’s looking more pitiful each day. if he had any intelligence, his resignation would indicate he has some.
    unfortunately we have a congress that is trying to compete with the past bolsheviks in doing nothing.
    we need to replace more of the so called republican congressmen, boehner and mcconnell to name a couple, some of the tea party members that turned traitor and almost all the bolsheviks in the senate and more that are still in the house.

    • Nadzieja Batki

      The roads and bridges and most government contracts go to the lowest bidders. This does not mean that those companies will not make out like bandits, all this means is that cheap materials and shoddy workmanship will be the result.



  • s c

    It is truly sad that we do not have an H L Mencken. Mencken stuck it to FDR regularly. He needed and deserved it. Obummer is light years ahead of FDR when it comes to pampering a ten ton hog government.
    The bailouts did NOT work. Either Obummer’s memory is slipping, or he never had one. Banks are afraid to loan money because of the rank incompetence at the W H. And now we need ANOTHER agency?
    Mr. Prez – other than no standards or any sense of morality – what is your PROBLEM? What is it about losers and posers who always fail to remember ideas and things that DON’T work? You’ve tried almost everything else under the sun (making FDR look like a brat who never had an idea in his head).
    Are you going to import people from other countries and see what they can do? Frankly, I wouldn’t trust you to create an agency that has only three employees. All of them would be overpaid, have no credentials and would be immune from criticism.
    You are utterly consistent, Mr. Prez. You can’t do anything right. If you need help in resigning, let us know. People across America will volunteer to help you depart the W H so you can scurry back to Shecawger and OUT of our lives. Resign.

  • http://lives RAYMOND HARBIN



  • Randy Huffey

    Can this guy (Obummer) find any more ways to bankrupt America? Economic destruction is his goal, and he is succeding, would have already wiped us out were it not for the house of representatives. Work to get constitutional conservatives into the house and senate. This idea is going nowhere.

  • James

    This is what FDR did, but putting unemployed people on the government payroll doesn’t create jobs, it increases welfare.

  • Philippe

    Dear Americans, sad to say, this “Bank” will again slowly take more freedom away from you as citizens. Although this Bank / “system” will generate some work for the ordinary citizens, interest needs to be pay on these investments. Thus the investment monies that will be allocated to this bank – either through private investment schemes and or government – (this is now your pension fund monies etc.) will be taxed in the form of toll fees to generate interest for these investments. Thus you will basically have to pay tax on your own investment – cruel isn’t it. Mmmm, or how will they obtain interest on these investments ? How can any person in his right mind pay tax on their own investments. The freedom for the ordinary citizen is slowly taken away in such times and I would recommend that the people put pressure on their representatives / senators not to be blindsided by such a proposal. Are Americans not paying already enough taxes to maintain their roads and infrastructure ? Is the function of paying taxes not to generate infrastructure to the people ? European countries have such Banks for years yeah ….. but look at these countries Debt as a ratio or percentage of the GDP? Don’t be trapped by this, this will not empower you, it will enslave you.

  • Philippe

    Dear Americans, sad to say, this “Bank” will again slowly take more freedom away from you as citizens. Although this Bank / “system” will generate some work for the ordinary citizens, interest needs to be paid on these investments. Thus the investment monies that will be allocated to this bank – either through private investment schemes and or government – (this is now your pension fund monies etc.) will be taxed in the form of toll fees to generate interest for these investments. Thus you will basically have to pay tax on your own investment – cruel isn’t it. Mmmm, or how will they obtain interest on these investments ? How can any person in his right mind pay tax on their own investments. The freedom for the ordinary citizen is slowly taken away in such times and I would recommend that the people put pressure on their representatives / senators not to be blindsided by such a proposal. Are Americans not paying already enough taxes to maintain their roads and infrastructure ? Is the function of paying taxes not to generate infrastructure to the people ? European countries have such Banks for years yeah ….. but look at these countries Debt as a ratio or percentage of the GDP? Don’t be trapped by this, this will not empower you, it will enslave you.


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