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Obama: Crackdown on offshore assets will create more jobs

May 8, 2009 by  

Crackdown on offshore assets will create more jobs, says Obama As the new administration continues to pursue individuals and institutions who it believes are implicated in hiding assets from the IRS, President Obama has explained the process will boost economic growth and jobs at home.

A statement issued by the White House says the current tax code offers a competitive advantage to companies that invest and create jobs overseas and provides opportunities to avoid taxes through offshore tax havens.

To prove that, it cites statistics indicating that almost one-third of all foreign profits reported by U.S. corporations in 2003 came from just three countries, namely Bermuda, the Netherlands and Ireland, known for their low tax levels.

To remedy the situation, Obama has proposed replacing tax advantages for investing overseas with incentives to do so at home by reforming deferral rules that give tax breaks to those who reinvest overseas.
He has also vowed to continue to "get tough" on overseas tax havens.

"It is the downpayment on the larger tax reform we need to make our tax system simpler and fairer and more efficient for individuals and corporations," the president said at a joint news conference with Treasury Secretary Timothy Geithner.

The White House estimates the plan will save around $200 billion over the next decade and will discourage companies from enhancing their foreign operations at the expense of creating American jobs.
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  • James Glover

    Thank GOD for President Obama and the Democratic Party.Keep up the good work guys.

    • Mark

      You’re kidding right? You were making a joke. Please for the Love of God, tell me you are not serious. You can’t possible look at the single largest increase in national dept in the history of our country, and the single biggest power grab while reducing personal freedoms and be glad, unless you can’t think straight. Obama has tripled the national dept in just over 100 days, expanded the government jobs that take from the economy and give back nothing but bureaucracy. And you think this is good? You and mind numbed robots like you are the reason this country is in trouble. You want entitlements, but don’t stop to think of where the money is coming from. You just naively think it can never end. Your inability to think rationally is terrifying. You and your ilk are just as dangerous to freedom and our country as the Islamic terrorist.

      • Tim

        Mark,
        You are right on with this blind sheep. Very Very scary that there are hundreds of thousands like him.

        • don

          they listen to lies, they are blind sheep looking for the shepard, so are we now in this country . lets vote them out 19 months and then impeachment time. now thats going to be a good day for this country. what fools some are..

      • bill

        the word dept is spelled debt

        • Paul Trood

          Thank god for the spelling police. If that’s all you have to offer Bill don’t bother.

        • Paul Trood

          Oh and by the way you are WRONG, the word debt is spelt debt. Goose.

      • Rich

        you must be kidding! When Bush left the national debt was near 10 trillion. In order for Obama to triple the national debt it would have to reach 30 trillion. It hasn’t get your facts stragth.

        • Mark

          My bad, I will try and get my facts “stragth”. You do speak English right? I was talking about the budget deficit and said national debt. So, let me correct that. Based on the wall street journal*. 2008 budget deficit was $407 billion, project to reach $438 billion in 2009. Obama out did himself. The budget deficit is $1.8 trillion. Do you feel better now? I sure don’t. Obma has MORE than tripled the budget deficit. But you are right, he hasn’t triple the national dept. That will take him until his mid term. By the way what does “It hasn’t get your facts stragth” mean? Is it pig latin?

          *http://online.wsj.com/article/SB122100526189017309.html

        • LARRY

          YOU ARE THE ONE THAT NEEDS TO GET YOUR FACTS STRAIGHT .. BUSH LEFT OFFICE WITH JUST OVER 1 TRILLION IN DEBT .. WHAT OUR GREAT ONE WILL LEAVE US WITH IS MORE DEBT THAN WE CAN EVER PAY ..

      • Terrie McCormack

        You are so right. But people like to live in fantasy land so they will believe the crap that the government is telling us. Obama is a dangerous man.

        • dmac68

          Terri you are so right but how can he be stopped? Not till 2010 if we have a country left and our right to vote isn’t jeopardised. This old gal isn’t anti young people but they are going to have to wake up and get their head out of the sand and start taking pride in America and realize it is and always has been the greatest country in the world. Even with the problems we have had. But up until now I have always had faith that the problems could be voted out of offices. But I am afriad we are looking in the eye of dictatorship for America. I pray I am wrong.

    • Gale

      I am going to muster all the tact I can here, “ARE YOU INSANE”. Since the “jobs” actually belong to the one who owns the product or what ever. What will stop the whole company from going to a country which is more business friendly. It could mean major job loss as business relocate their main offices and take everything including all of “their jobs”.

      • Mark

        And yet they don’t see it. They feel so smugly and arrogantly superior that just know that since they are the smartest one in the room that it will work out they way they want it too. Don’t confuse them with facts, don’t bother them with history, and certainly what ever you do, don’t confront them with the truth that will just send them into orbit. No, just let them be doomed to repeat it. The problem is that they will take the whole country down with them. Then when it goes wrong, they will say, well we just didn’t spend enough. Or, it’s George Bush’s fault. By the way, how long is that tired line going to play?

        • nancy

          Or, it’s George Bush’s fault. By the way, how long is that tired line going to play?

          Untill they are gone…

          • billy

            “tired line” is that what fox news is calling it now?

    • Gloria

      My vote is still out on Obama. I believe we are suppose to see results in 16 months and I am willing to wait that long.

      I have studied more than my share of American and world history. Although I am a bit older I can still recite long portions of “The Declaration of Independence”, “The Bill of Rights” and OUR “Constitution”. I have also studied people.

      The problems we are having now were not created by the Bushes, the Clintons, nor the Obamas. They were created by us. First of all, our electorate is uninformed and lazy. Most people don’t bother voting at all. They believe that their vote doesn’t count and as a result, two elections that we know of were stolen. They were able to do that because it was expected there would be an initial display of outrage but they knew it wouldn’t be as important as “American Idol” and in a short time the people would return to their habits.

      In the year 2010 there will be a census. The purpose of this is to divide up the voting districts so that all people will be equally represented. They never are equal as the boundaries are so skewed to disenfranchise voters so the winner is someone who won’t change anything. Very few people attend or are aware of the importance of local govts. where local laws are enacted including how much we pay in local and state taxes.

      But the one thing that really drives me nuts is how we complain about outsourcing and than go gine our money to Wallmart. The excuses are usually Wallmart is cheaper. It was but It’s not. . The second reason is that nothing is made in America any more. Many things are made in America. It takes a little longer to find things and they cost a little more but the quality is usually better and the people who make them get paid a living wage, not a minimum wage but enough to support them. What Walmart pays their employees is pitiful. But we don’t care about that either, nor do we care about the children in these other countries. These children are made to work at 6 and 7 years old and continue to work until they are no longer needed. As a group we are narcistic, greedy country

      The United States of America can only be saved by the American People and the thought of that makes me ill. We allowed Bush and cronies to tap our telephones. We forfeited our rights against illegal search and seizure. The one scary thing about Obama is that he has not returned them.

      I end with a quote by Benjamin Franklin, “Those who are willing to give up freedom for safety, deserve neither.”

      • Valverde

        Guess what, Gloria, the MESS-iah has stacked the census team with people who will make sure they have counted every illegal alien in this country to be certain they have enough people who will vote the MESS-iah and his crooks back into office in 2012. Oh, they won’t be citizens, one might say. D-o-n-’t Y-o-u B-e-l-i-e-v-e it. The MESS-iah can make citizens out of the very stones of the earth by waving his magic wand and throwing more of OUR money around. Just wait and see. The crook will do it.

      • Mark

        Hey Gloria, a very thoughtful and composed statement, unfortunately, the reason Obama keeps using the phrase, and you can feel free to check this out, “we need to do this now!” Is that he doesn’t want you to have time to see what his end game is. He is trying to do as much damage as he can, so that it can not be repaired. Valverde is correct. Obama is attempting to put ACORN in charge of the census. This is the same group who has 17 outstanding state indictments for voter fraud. How can that not scare the hell out of everyone? No, Gloria, unfortunately we have only one shot at this, if it is not too late already. If we wait 16 months, or even 1 more month before we try to stop this fascist onslaught it will be too late. NO, we don’t have that time to wait. It may be too late right now. But you are correct about the lazy electorate. Just look at how many of them can not even articulate why they voted for Obama. That’s not all that fair though; most Obama voters can’t even articulate a coherent thought.

      • howiem

        Ben Franklin’s quote was made in reference to those who decided to seek safety with the British and were unwilling to fight for freedom.
        You cannot have freedom without having safety first. Try reading “The Road to Serfdom”, and you will see just what it all about. While your patience in waiting to see what will happen in 16 months is admirable,, gthe impacts of new government policies take from 6-24 months before the results can be measured. By then socialism will have set in to a degree never seen before in the USA.

      • Joe

        Gloria, you have brought up some very valid points however, there are also some that need to be discussed. First of all, the Obama program is essentially doomed from the get-go regardless of the 16-18 month lagging indicator. His programs have been based upon tried and failed policies. Then again, I believe that he is not really interested in fixing the financial ills of the country but rather implementing old fashioned socialism. Furthermore, this is really about command and control of basically every facet of our lives (much like Stalinist Russia). This fits well with the goals extreme left (i.e., Bill Ayres, etc.) but will not satisfy the great segment of voters that trusted their future to this man.

        As for Walmart, all that I can say is that this organization is one of the only ones that were and are willing to go into certain areas and provide reasonably priced goods to an underserved population (inner cities such as Chicago) Remember, they also bring jobs into these areas as well. To me, that is being a responsible corporate neighbor.

        As for our current crop of problems, I am in total agreement, the Bushes, Clinton and now Obama did not create them per se. Their existence only reflects the laziness and inattention of the average American who puts weak or corrupt leaders in place. When you are asleep at the switch and vote for platitudes and “change” what do you expect to get? Cicero said it best (and I paraphrase) “A nation deserves its leaders”. Furthermore, if there is a lack of “heroism” in our leaders, then there is also a lack of heroism in “we the people”. Laziness is in not fully identifying what a person truly believes and represents but rather listening to “words” that are designed to resonate. This lack of attention and effort on our parts dooms us to suffer the fate that we eventually end up with. In this case, we have trusted our fate to a man who has no discernible background other then being a radical leftist and community organizer. Not what you would identify as strong credentials for executive leadership!

        I believe that within 16 months, we will be in a state that none of us want, both domestically as well as internationally. Hopefully the past resilience of our nation will again manifest itself. If it does not then we are doomed.

      • http://Govterrorizingourgardens Idarae

        Guess what Gloria, you will NEVER see the America that we all knew and loved, fought for and died for, it will soon be gone and we the people, believed our politations, the culprit is the “Federal Reserve” and big bankers in Europe like the Rothschilds, Bush & Obama are only the “puppets” soon our Constitution will be totally gone. This was all planned a long time ago, and Obama needs to keep our country in a turmoil so “they” can complete the “one world” indoctrination, Watch who makes the 7 year peace agreement with Israel that is the one to fear.If you want to know how the story ends, you will find it in the Bible and it is coming FAST. 7 years after the Christians have “left” the ” New King” will bring us back with him. what a glorious time that will be.

      • Terry Day

        Thanks Gloria. Well said.

      • Lisa

        Thanks Gloria. You are right, but the best we can ever get from the electorate is venom, shouting and sloppy thinking. We don’t educate our public to think critically — the pendulum has swung and now the same folks who were screaming during the Clinton years are back with the same tired rhetoric, enhanced by Fox news. When it swings back, Democrats will wring their hands for 4-8 years with their brand of hate.

        In the meantime, Congress does what Congress does and each administration takes us inexorably down the path of corporate statism. We’ve been screwed for a long time, and until we really look at the map we will not see where we are – and have been – going.

      • Lisa

        My Goodness, I tried reading this section because I like the source, but so many of you are just abrasive and filled with hate. That will never be the solution. When I heare “DO SOMETHING NOW OR IT WILL BE TOO LATE” or I have to wonder exactly what is is you intend to be done and what is the “or else”? I want to dialogue, but it’s too hard to read the majority of the comments…

      • Rev. Dr. Michael D.D.

        Well here it is August 28, 2011. Gloria are you embarrassed yet for being an Obama supporter? Has he fixed our economy or made it worse? Is he even eligible to be POTUS? Is the World a better place?

    • Chris

      And of course the investing in overseas labour (outscorcing) will of most certainly be also viewed as any other overseas investment………..NOT!

    • LARRY

      yea right .. keep up the good work my ass .. wait until the union takes over .. then see if you say that again ..

    • Missy

      yes! Obama is doing a great job on this. These big fat cats have been avoiding paying their fair share of taxes for years. How unAmerican can you get?

      • Rev. Dr. Michael D.D.

        Spoken like a true communist.

  • s c

    Most Americans refuse to be dumbed-down. Most Americans have no use for rose-colored glasses. Most Americans want real hope and real change. Then there’s Obama and his starry-eyed robots. Those who choose to believe the current Washington pr/pc blitz have serious reality issues. Their new mantra seems to be “don’t bother us with facts. Mary Poppins and Peter Pan will lead us.” America is now expected to blindly accept and love FDR II, Carter II, Clinton II, NWO Big Brother and a raging, paranoid arrogance that defies all common sense and
    reality. Even if this new herd learns to walk on water, they will never deserve our trust. They don’t pack the gear. They never did. What they want is abolute power and a nation of slaves. They tread on very, very thin ice.

    • Jimc

      Obviously there’s a whole crapload of those that don’t appear in your “Most” Americans statements, cause he sure got elected and now “Most Americans” are suffering because of it, with no end in sight!

      • 13th Gen. American

        The term “CRAP LOAD” is just so appropriate because they believed his load of crap.He got elected because of FRAUD! ACORN signed up thousands and thousands of fake voters. Tons of service men fighting for our country didnt even get to vote, and stupid morons who believed his crap. He’s not even a citizen! Also because real americans who love this country and are working hard at just trying to live and didnt think they would be fighting an enemy who cheats,lies,steals your money and seems to hate everything that made this country great. I know just about all politicians on both sides lie and cheat but Obama and his cronies are taking it to a new level. The worst part is he is so bad at it. I cant believe how many people believe his lies till I remember how God said he would allow peoples mind to be deceived. Thank GOD I’m not one of them!

        • Ron

          Very well put. However, there were 68% of someone voting for all of these people, and they are going to get just what they deserve. God have mercy on the ones that are not blinded by these people.

        • nancy

          This is to Ron..
          I am not convinced that they did not win by fraud. There was certainly enough of it going around then.

        • nancy

          People who vote liberal vote to be taken care of by the government. People who are on any kind of government handout should not be allowed to vote. Food stamps, welfare, aid to depend children, fake disability, the kind where you can work but you just do not want to. Any one on welfare, fake disability, the kind where you can work but you just don’t want to should have to do 10 or 15 hours work a month, even if it is just cleaning the roadsides and parks. Maybe put in hours picking fruit or cotton or something. They should be required to go to school and get good grades so they can get a job. And take drug tests.

          While I am on my soap box, I think there should not be a fair tax, because if there is not enough money coming in from the things people want, then the tax will go up on things people need until it is to high to afford. I think there should be a head tax. It would be a great birth control method if abortion can be done away with. Make abortion to expensive and put a tax on it and people will do some thing more permanent about preventing pregnancies. And if the head tax is around $1000.00 per person living in your home then that is a fair amount going to the government.

          I am sure I will be corrected if any one disagrees with me.

        • don

          only god can help this country now ,.my advice is to pray to god every day to take him out of office some how, and pelosi too, pray brothers pray,,

      • Valverde

        I have wondered how many people did not vote in the last election because they didn’t like McCain? I held my nose and voted for him because I didn’t like the smell of death coming from the MESS-iah. I wonder if they like what they got for their lack of gumption.

        • Luz

          I love the word “Mess-iah”! lol lol. I for one didn’t like him one bit. I scoured the internet during the election and found so many negative rumors about him, that it wasn’t outed by the mainstream left wing media. They covered (left wing media)Obama’s “shady” past. Instead they go after Sarah Palin and the Plumber . I was so upset about those left wing media covering about how much Sarah Palin’s wardrobe spending while Obama jetted to Hawaii 2x and no mention about he and he’s wife wardrobe spending. It’s really mind boggling. Up to this day, I don’t even feel ling seeing his face in the T.V. He is the guy who is saying one thing and doing another, or ” his like a wolf wearing a sheep cloak”. Voter’s are very unaware of the situation ,they just went along with the flow (since Obama is hailed like a Hollywood star by the Left wing Media). Hopefully next election, citizens should now be more careful in voting their candidate, since they already learn their lesson from that man (Obama).

    • Judy & LIVID

      Amen!
      Well said.
      They are definitely SHEEP, they will follow you anywhere. You know what happens to a herd, SLAUGHTER!!!
      Judy & LIVID

  • John

    How will forcing large coroporations to move entirely out of the country to stay solvent create more jobs here in America?

  • http://www.personalliberty.com Joe

    The tactic is this:

    We (the U.S.) will force our corporations out of your countries leaving your economy in shambles. Then we will turn around and offer you foreign aid so we can control you by making you meet our demands before we give it to you.

    This administration not only wants to control the domestic population – it wants to control the world’s population.

  • http://jmkremote@comcast.net Jerry

    Democrat/Liberal thinkers have no idea what it means to run a business or what socialism is. They don’t understand what profit margin is as well. Each company has to make a small percentage to survive. Oil companies for example run on an 8% margin so if you raise their taxes, so to speak, they are forced to raise prices. In the end it’s the consumer that pays more, not the companies that the government wants to overtax. Taking away the ability for companies to make money hurts the average American worker, creates inflation and raises the unemployment rate due to some companies that decide to maintain their profit margin by laying people off rather than raising prices.

  • D. C. Daman

    Obama was elected on one principal, ” I’ll give you ice cream everyday.” His problem was he didn’t know how he was going to pay for the Ice Cream. His solution was, I’ll dip my hands deep into the tax payers pocket and the tax payer can pay for the Ice Cream. Obama is slowly crushing the entrepreneur with his new vision/policies. One example is his push to force union labor on business. This will only drive up the cost of doing business, ie: the big three car companies, and drive business off shore where they will make and keep their money and jobs. Preventing business owners from taking advantage of ways to make a profit is not the American way. The American people, who voted for Obama, are slowly waking up to the reality that the Ice Cream Obama offered is in reality curdled milk with just a few sprinkles on top. If Obama continues on his current path he will be thrown out along with the rest of his topping selection.

    • don

      voter fraud ,lies,earmarks,more lies,no stamped birth certificate, no drill, air presure in tires, small cars, lies, stealing ,acorn, fools are allover the place, where are the jobs, lies, pelosi, lies, reed,lies time to pray for this country.before its next speedy policy brakes the bank.

  • Luvenia

    I would suggest you speak to the people that have prepared tax returns for years. Ask them how the wealthiest have avoided most of their tax obligations. Ask how people like the Rockefellers (excuse my spelling of names) get tax breaks for charities that feed back into their pockets. If is okay for the wealthiest to have tax havens and cheat on their taxes should not the middle class have one to? We get fined and face jail time all because we can afford to put our money in a private bank in another country. Please tell me why our businesses have gone overseas after their best friend, President Bush cut their taxes. Where was their pride in this country? So with their large tax break they jumped ship like the traitors they are and now are upset they will have to pay taxes on their actual profits instead of their cooked ones. So sorry but if they leave maybe some true Americans can start a business with America in mind.

    • KALYNNE

      Sorry, Luvenia, but if you cheat on you taxes you get to work for Obama, you don’t pay fines, and no jail time.

    • Lori

      Obama’s cabinet didn’t pay their fair share of taxes in many cases. So you are pointing the finger at your own party. Also, speaking of paying something into your own pocket. Are you aware that the Liberal Hero Al Gore owns the company he pays his so called Carbon Offset Credits to? So, he uses $7000 per month worth of electrictry, justify’s it by buying COCredits from himself….what say you to that? Your cries and finger pointing of hypocrisy fall on deaf ears when you only point to the “rich” and the “Bushe’s” because your political beliefs outweigh the core of your argument.
      Again, your argument is outweighed by the truth of what you let us see about your belief system. You have bought the lies of the liberal media and the democrat party that Bush only cut taxes on corporations and rich folks. Your party screams for responsibility for world responsibility yet when the major coorporations go to these poorer countries and provide jobs where none were before, it is all about their leaving us behind….the truth is that they do both, they operate where taxes are lower and where there is a need to employ folks. BUT, if Obama makes it unprofitable for them to operate here and THERE, they will got to the place most profitable. AND you will lose your job…..while those other countries see that financial increase that you originally screamed was their responsibility.

      You also show your ignorance when you talk about coorporate profit being the “bad ” thing….without a profit they lay people off…..don’t they? So take away their profit by raising coorporate taxes and three things happen…1) they leave the country entirely or 2) they stay here but lay folks off and increase the price of their goods and services to the customer who can’t afford it any longer because they got laid off……

      wake the hell up.

    • LARRY

      YES MAYBE SOME OTHER PEOPLE CAN START UP A NEW BUSINESS SO OBAMA CAN RAISE THEIR TAXES ALSO SO THEY WILL HAVE TO LEAVE THIS COUNTRY TO .. BUSINESS IS THE ONES THAT CREATE JOBS SO LETS RUN THEM ALL OFF .. LOL

    • LARRY

      there won’t be any new business start up without a tax break .. it cost a lot of money to run a business .. with payroll , expenses to operate and all of the unforeseen expenses .. i don’t think you have ever tried to run a business …

  • traciek

    How about something really simple? Lower taxes on companies in the US. Lower taxes – companies stay in US. Higher taxes – companies leave in search of a location where they have lower taxes and higher profits? I just don’t get why it is so difficult for Congress and Obama have such a hard time wrapping their brain around this.

  • David

    We already have the highest coorporate tax rate in the world and now plan to: 1. Energize the unions (unreal how stupid this is) with card check. Has the midwest and northeast not figured out why so many industrial compaines have headed south! Because they can be more competitive. Unions do not have a chance in the south. You ruined the north and stay the heck out of the south!
    2. Cap & Trade or Global Warming and now Climate Change (not warming so much anymore) – the dems keep changing the name but the end result is the same….as the single largest tax ever imposed upon energy intensive industries. Energy intensive industry equates to high paying white and blue collar jobs. Oh yea, don’t forget that fossil electric and nat gas utility rates WILL skyrocket (about 170%) for all of us. That’s called the back door tax, which will affect all companies; even if they do not trigger the 25,000 ton CO2 trigger. So if your margins are tight, pucker up.

    Industry and my small business see the hand writing on the wall. To make a profit, and that is the goal; our goverment is making it damn near impossible to stay here. The hellish taxes have forced industry to look for loopholes.

    Wait until they start taxing you for exhaling CO2 and passing methane….it’s coming. I think they call it the crap tax.

  • Barry

    God is not for Obama the baby killer and Muslim lover.

    Just drink the kool aid libs and then after 4 years of Obamanation you will wake up and wonder what the hell happened to dreamworld.

    This is just another attack on big business and raising taxes, both will kil jobs not create jobs like the lie BO stated a few weeks ago that he had created over 100,000 new jobs. What a liar and the kool-aid drinkers believe it when in fact another 633,000 Americans lost their jobs last month thanks to BO and the libs.

    Oh, I need for BO to say he is more popular than Jesus. Say it BO you arrogant Chicago Thug politician, I dare you to say it BO.

  • ONTIME

    This is just another of those glossy fruited lies the public is being asked to accept and those who think big biz is an evil thing are cheering and just about ready to have an orgasm.

    For the bone heads, these companies by law are allowed to defer taxes on overseas income for a a reason, defer does not mean they will not pay it means they will pay under regulated circumstances in the future.

    You have just been sold another dirtbag bill of goods and made your own cost go up by allowing this travesty to be instituted.

  • larry criddle

    what has he really done about creating new jobs . nothing .. all he thinks about is putting his hand in our pockets and taking out all he can get .. if he is so set on cracking down on law breakers , he can start right in his on cabinet .. until he shows proof of his birthplace , he isn’t my president … that is one law he broke .. so he needs to go after himself … that’ll be the day ..

    • Judy & LIVID

      AMEN!!!
      He has already given us enough evidence to try him and his cabinet for TREASON!
      I say we go after them. NOW!
      Start flooding their offices with objection letters; hand-written letters or less likely to be trashed. Send them to everyone in office at all levels, from local up to the so called, messiah and state that, WE THE PEOPLE, will vote you out of office if you do not comply with THE CONSTITUTION, THE DECLARATION OF INDEPENDENCE AND THE BILL OF RIGHTS!
      We need to take a stand, NOW

  • RICHAR FISHER

    TAXING AMERICAN INTERNATIONAL CORPORATE OVERSEAS PROFITS PRIOR TO REPATRIATION WILL RESULT IN DIVISIONS OR EVEN THE ENTIRE CORPORATIONS BEING SOLD. THE NEW NON U S OWNER(S) WILL FAVOR MOVING OPERATIONS TO HOME COUNTRY OR TO OTHER MORE BUSINESS FRIENDLY COUNTRIES CLOSING U S OPERATIONS. MANY JOB LOSSES PROBABLE.

    MAY EVER BE ATTRACTIVE TO SELL OUT. IF OVERSEAS ACCOUNTS ARE LARGE. STOCK HOLDERS CAN GET SHARE OF UNREPATRIATED PROFITS IN STOCK PURCHASE PRICE WITHOUT DOUBLE TAXATION.

    • Frank

      Putting tarrifs on imports stops that too… Maybe we could make our own TVs again….

  • Joe Hooker

    Just leave the poor guy alone, okay.
    He’s obviously a product of the publik skool sisstem.
    Joe

    • Marcia

      We will never leave him alone with the reignes of this country. He is a Brithish citizen by his father and not our president. You have to have 2 parents born in the USA He does not. He not part of the public School system. He is part of the Muslin shool he went to in Indonesdia and in Kenya.

      Do not put the Public Shool System down. we are all part of that and some great people have come from the public school system. We have gone onto college and graduate school and so forth and so on.

      • Valverde

        Maybe in the past some great people came from the public school system, but have you looked at what they are teaching, or more accurately, what they are failing to teach, now? Ask around and see how many high school grads can tell you how many branches are in our governmental system (Executive, legislative and judicial), how many states are in the union (our dumb pseudoPresident didn’t even know. I guess his teleprompter was turned off). I our 50th state to the east or to the west of California?
        The present public school system is controlled by the union and not by the parents who have the most at stake in the education of their children.

        • Frank

          Yeah like George W. Bush who couldn’t even speak, the freaking retarded redneck….

        • Marcia

          You are right I have been out of school for too long. I do talk to my grandchldren in TX and they seem to know more then the kids aound here is PA. So I have taken it on my self to teach them the Constitution and bill or Rights as I have a booklet of these things. I am in a wheelchair so when my husband is out of the house they come over and I give him one Article or Admentment a day and they have to memorize it and then I will quiz them.

          I know the shools are bad from all that i see but I think in parents were more involved you would see a better outcome.

        • Judy & LIVID

          Thank You! Valverde
          We have been dumb-downed starting in the early 1920′s when the U.S. adopted the public school system, it came from Prussia. Before that, children were taught in the church. If you want a rude awakening, read the book by Gregory Thompson, “Hidden Secrets”, it’s content is based on source documents. It will absolutely blow your mind and make you FURIOUS!!! If you have half a brain.
          I can’t believe some of the comments from people that like obama, They Have NO CLUE!!!

      • Joe Hooker

        Sorry!
        I was refering to the poster, not the imitation president.
        I should really have made that clearer.
        Joe

        • Marcia

          if you want to help us Impeach Obama go to http://www.americangrandjury.org and work with them. I just did and I have a great feeling I did something for my country. This grand jury is rolling across America at an amazing speed adn Obam is upset he knows that americna citizens can form a grand jury and present them to the court for redress. We need more people to join in and take action. It only takes 5 minutes of your time.

      • Frank

        Marcia you are just wrong on so many levels, why the hell don’t you pack up and leave this country, we’d be better off without your type.

        • Valverde

          Look who is talking about being wrong. I haven’t seen anything that you have said that contributed anything to the discussion. What you have mainly done is run people down and make ad hominem comments. Buddy, if you haven’t heard your dear, dear Nobama MESSiah lie you haven’t been listening. Clean out your ears and really listen to what he says. Lying is also spreading the BS on so thick that people like you think it is truth. Nobama isn’t about to put the middle class first. That would put him in deep kimshee. I am certainly not with that Socialist Wack-a-Mole

        • Marcia

          Why not go to http://www.oilforimmigration.org and read what is in this bill. I am a conservative and I have a Ph.D and I resent your telling me to move out of the country. I was born and raised here and I will fight for the Consitution and bill of Rights. Of Course Obama has trashed that as his father is a British subject and so he does not have two parents raised in the USA. He is British and Kenyan as he want to a Muslim school for his education and has told all of us the evening prayer of the Muslims is the most beautifiul song he has ever heard. He will not salute our American Flag and he and his wife say our National Anthemn is too violent.
          Obama was disbarred as an attorney as he as so many alises and his wife was disbarred for doing something horrible to her clients while she was in court with them Just what do you know about Obama BEFORE he became president I say nothing.

        • Judy & LIVID

          Frank,
          I think you’re the one who is dead wrong and should take your own advice.

          You must have cut to many history classes and you probably didn’t even take a class in government. Hmm, imagine that, No wonder?
          I propose a Bill or maybe a Law, for all students to pass a very indepth test on The Constitution, The Declaration of Independence, and The Bill of Rights in order to graduate from grade school, to graduate from highschool and to graduate from college. OHHHH!!! That was the criteria to graduate when I went to school.

          I say we kick it up a notch!

          Make it a LAW, that in order for a person to hold a public office, any office and a Supreme Court Judge position, they will need to pass a series of tests. A very thorough testing on all three documents and their own state’s constitution. I will gladly help with the construction of this exam.

          Publicize their scores!

          I also feel they need to submit an agenda, just like the average person does when they apply for a job. No benefits until they meet the bosses requirements. They participate in all programs, just like every average American is required to do so. That means, healthcare, SS, etc. I believe they will start to understand what we face everyday as an average American. OH! obama, stop your Wednesday night parties, I can’t afford one of my own, how can I afford yours?

          We as citizens are their employers; we dictate the policies, not them. It is our duty to control this government,. It is time we step up to the plate
          and play ball, OUR WAY!!! And BY OUR RULES!!!
          THE CONSTITUTION STATES IT!!!!!

  • David

    Hey but then we would all be considered sheep with our hands out. Isn’t that the goal. No job, no guns, hand outs. Sounds like a plan.

  • Frank

    It is time we make these business pay their fair share, period. Close the loopholes and put tariffs on all the foreign garbage coming into this country. We have gone down hill since Reagan started this garbage of outsourcing with Japan in the 80′s. It is time to put Americans, our jobs, and our middle class first, thank you Obama!!!!

    Like the retardican god Bush said, “If you are not with us you are our enemy…” Well if you don’t like Obama pack up your crap and get out…… I’ll help you pack if your too lazy………

    • http://N/A jim

      Frank , I assume you believe what you say. Do you have a job? Do you own a home? Do you have a 401k? any Roth IRA’s?
      Have you noticed big business and government have solid ties? They send lobbyist to washington to buy both Republicans and Democrats . This is not new its traditional business and has happened down through history. Its like GM and the UAW they sleep in the same bed. They set the terms for the hourly workers.
      Do you really believe the union has any leverage or negotiating power with GM under these circumstances? What did Rick Wagoner walk away with? When GM was given the chance to restructure didn’t they start and end at the bottom?
      Restructuing should start at the top and work down. The same with Chrysler .
      Do you think either company gave a darn about the average joe?

      Obama is not going to give you anything. He has taken up where Bush left off. Marching down the road to socialism.

      If you answered yes to any of the above questions I don’t believe you will have the same mindset in six months.

      • Frank

        Yes I work, yes I own my home, and 3 Dodges too…. I also know the difference between socialism and fascism, and believe me taking tax dollars and giving them to corporations is not socialism….. But I think Obama has brought government back to the center, the problem is the leadership in congress is too, well, too much of the same old same old, we need new centrist leaders in Congress, Obama can’t do it all on his own. He needs some real liberal leadership in the house and senate.

    • LARRY

      he fully intends to put the middle class people first .how else is he going to pay for health care and cap and trade .. you can surely bet not out of his pocket ..

  • Frank

    Don’t worry Obama REAL Americans support you… God bless and we have your back….. Obama/Biden 2012 Obama/Clinton (Michelle and Chelsea) in 2016 and 2020……. Whhhooooo hoooooo……….. God Bless America!!!!!

    • Valverde

      Yeah, Nobama, we have your back, your backside, with my steel-toed boot stuck up your skinny Muslin (no typo) rear. Same for the other liar, Clinton. I think Clinton and Nobama are having a contest to see who can tell the biggest lies and get away with it. Looks like a dead heat, folks.

      • Frank

        Better Dead Than Red, vote for a LIBERAL in 2010 and 2012…..
        Speaking of lies, I never heard Obama say one yet, and Clinton’s little lie did not get anyone killed, but just where in the hell are the WMD? Bush like all conservatives is pond scum…..

        • LARRY

          just what planet are you from ..

  • http://N/A jim

    How about we keep it simple. Lets have far less government. Lets except the fact that both party’s are corrupt and could care less about America or you and me.
    Let us focus on people who have already proven themselves to love America , that speak the truth, That are truly interested in our well being, that are roll models who are ethical and have proven to be morally correct. Lets look towards Patriots to lead us.
    We need people who can make hard decisions that are correct. We need people who will not debate the issues to death but rather take action.

  • Marcia

    Obama has signed a bill HR 1388 to take 20 million of our tax dollars and use it to import 100,00 Muslins from the Gaza Strip to this country. They are dedicated to Hamas and the belive in Sharia Law.

    So we are goig to have these people as Obama’ army and are dicated to killing Americans or he will put them into our lives and they will then take us out.

    This is a crime

    • Frank

      Marcia,
      That bill does nothing of the sort, read it instead of parroting right wing propaganda… Oh wait your a woman so using your brain is definitley out of the question for you……

      • Marcia

        I am so sorry you think that way about women I have a PhD in History and tought on the college level to idiots like you.

        If you want correct information for your little brain go to http://www.oilforimmigration.org and wake up and smell the fowl oder of Obama

        • Frank

          HR 1388 is about volunteerism in this country……

          Even if it did have something to do with Palestinians, they should be able to escape a life of persecution by the Jews……

          I support the constitution as well, oh and the Bill of rights is the first 10 Ammendments not a seperate document like your post leads one to believe. You should read the preamble then a dictionary to find out what preamble means…..

          Does Ph D in your case stand for “Piled Higher and Deep”?

          God Bless America and God Bless America….

      • E

        The sexist remark is totally uncalled for.

  • Lyn

    Hey Frank, funny, I’ve never heard Hussein tell the truth. If his lips are moving, he’s lying. He also has a juggernaut media machine to lie for him. They’ve obviously sold you the propaganda and convinced you that he tells the truth. I’m grateful there are an awful lot of other people waking up to the lies Hussein spewed to get elected and they know better than to watch his lips move now. Troll on Frank.

  • Wayne

    Lyn and Marcia are uneducated and ignorant…… go figure???

  • Kay

    Marcia, I’m certainly no Obama lemming but from what I can find out from reading the actual bill and from other reputable websites, HR1388 provided funds for Palestinian refugees over there, not to bring them over here. The email that has been going around is wrong.

    Just remember, this administration is very adept at smoke and mirrors. Almost every time there has been a diversion — this one, swine flu, the NY flyover, AIG bonuses, etc., there has been something a lot more important they’ve been trying to slip through Congress. Consequently, ignore the distractions and stay focused on what’s really important — right now national health care and cap & trade. But, also be sure to keep a very close eye on what’s happening with amnesty. This is definitely one I think they might try to sneak through under the guise of something else.

    Also, a general comment about liberals….Don’t you just love how they almost always immediately resort to either a personal attack or some hoo-hah of blind support? They just seem incapable of defending their position with facts. I once read the big difference between liberals and conservatives is that liberals “feel” whereas “conservatives” think. And, never has that statement seemed to be more accurate than now. Even the national talking heads, who should have ready access to the facts, more often than not do nothing more than repeat the party mantra — over and over and over. And heaven help them if they’re asked to admit one of their own made a mistake or was wrong about something. They just can’t do it, can they?

    It will be interesting to see how long it takes the people who voted for Obama and the Democrats to finally wake up to the fact that they’ve been sold a bill of goods by a bunch of politians who don’t care one whit about the American people and that in reality it’s all about power — keeping what they have and grabbing even more. Unfortunately for the rest of us a whole lot of people who were sucked into the slick rhetoric probably aren’t going to see what’s really going on until it hits much closer to home — and especially in their pocketbooks. An example being last summer when gas prices skyrocketed. That certainly made people forget their political leanings in one big hurry, didn’t it? Until then, however, about the best the rest of us can hope for is that these folks recognize the folly of their ways sooner rather than later. Otherwise, we’re all going to be dragged down as a result of their folly.

    • Frank

      I already knew that about HR 1388…..

      But you can’t argue facts with a Conservative, the facts do not support them.

      As for lying, look at all the garbage that came out of the Bush regime.

      Live free vote for a Liberal…….

      • Valverde

        It isn’t quite like that Luvenia. Look at the government’s own statistics. They tell us that the top 10% of taxpayers pay 90% of the taxes and the bottom 20% pay only about 5%. The bottom 10% pay nothing. These are the government’s statistics not mine. So, listen up.

        5

        • Bob Wire

          Yes Valverde, and that’s part of the problem.

          The lower 10% don’t pay taxes, for if they did, they’d be homeless and in some case they actually are already.

          You can only “take” what people “have” ~ You can’t take what they “don’t have”

          If these people are managing to stay off of the “Welfare dole” and not require state or Federal subsidies is the best we might hope for.

          It sucks ~ but we must look at it realistically, in real terms.

          This mindset, of judging yourself by others , comparing yourself to “others” is a slippery slope. To want to be seen a an individual one minute and then part of a whole the next to support and justify your argument is conflicting.

          We don’t want to live like the very poorest live. I’d wish better for them but I’m a realist and know most of them are beyond help any anyone can provide. Where is a mental disorder or whatever, ~ they are just barely going to get by regardless.

          I don’t want to compare myself to the poor that pay no taxes. I might wish to compare myself with the rich, ~ but how can I? We have so little in common. ~ I’m running out of teeth to chew my food and needing to go to the Dentist for two years while I’m paying late penalties and interest on back property taxes. How could I consider myself in the ranks of the wealthy? It’s kind of humbling actually.
          It’s pain, every day, pain every night, when I eat and sometime when I breath, even air hurts.

          But! I’ve only got $1400.00 left to pay and I’m caught up.

          I’m surly not hiding any wealth and forgive me if I’m not terribly sympathetic with people that are or the poor living under bridges.

          I like roads, streets, bridges , sidewalks, curbs , storm drains, lighted highways, garbage pickup, indoor comforts, I know these things are not free ~ I pay for them. I pay my part ~ but it’s always been a struggle. For there is no “abundance” of cash.

          I know a few people that REFUSE to Cheat ! Do you know anyone like that? I how that you do.

      • Valverde

        Hey, Are you between 18 and 25? Guess what. According to HR 1388 you will serve 3 months at least, of millitary service. If you are not, they will just take and take and take until you have nothing left. Ihave read HR 1388 and it is another Nobama strong arm tactic. Your old buddy Rahm Emanuel is laughing at you. Read his book, you fool. Maybe you won’t think this bunch is so peachy-keeny.

      • Kay

        Frank…

        Can’t argue with a conservative? At least most conservatives do consider all sides and base their position on facts rather than a baseless mantra. First, you mistakenly assumed I am a conservative. I am an independent. In addition to Republicans I have voted for Democrats when I felt they would do the best job of representing me. To me, it makes no sense at all to blindly adhere to a party line, at least not if you really care about your own well-being as well as that of others.

        That said, I will be glad to debate you on facts. How about we start with these — and try takiing off your liberal rose-colored glasses for a moment so that you can look at what’s going on as a concerned American rather than in just a political context:

        What do you do when things get tough? You tighten your purse strings, don’t you? You watch your pennies and buy less to keep yourself afloat. You look for ways to cut costs and you try to save. You can’t get out of debt by spending more money and neither can the government.

        Admittedly, the Republicans didn’t do such a great job sticking to their creed of fiscal responsibility and principles of less government for the past 8 years. However, two wrongs don’t make a right. And Obama is carrying on right where the Republicans left off only in a much, much bigger way. Fact: In less than 100 days with the help of the current irresponsible and often times reprehensible Congressional leadership he has earmarked, spent and promised over $12.8 trillion.

        The interest alone on our national debt is already at $150 billion a week and that’s not counting the massive entitlement programs like cap and trade and nationalized health care that are currently being rushed through Congress, not to mention amnesty which is also in the works. And, this doesn’t even include a further tripling of the national debt down the road. Where is the money going to come from to pay for this crippling debt? It can’t come just from the top income earners. There aren’t enough individuals and businesses in this small segment of taxpayers rt put a dent in it — and remember corporations do not pay taxes. Whatever they owe is passed on to the consumer, which means you’ll be the one paying more for just about everything you buy.

        And, what do you think will happen when the top percent of those taxpayers is bled dry (don’t forget to take into account that they’re already making less because of the recession)? The truth is, you can forget that approximately $13-a-week tax cut for 95% of Americans because the government will have to look to you to pay more taxes too.

        With the fed printing money night and day, the dollar is losing is fast losing its value so what you do manage to hang on to in the future won’t buy even what it does today, and there’s already talk of a national sales tax so everything will cost even more. Explain to me how that is going to help you, me and the country as a whole. And, what happens when the debt can’t be sold? There are only three countries in the world capable of buying our debt — China, Japan and Saudi Arabia — and China has already warned us on several occasions that because our spending has gotten so out of hand they may not be interested in purchasing any more of our debt. Japan’s not a likely candidate either because they tried this same approach in the 1990′s with disastrous results. If nobody is willing to buy our debt, we’ll be in even more trouble. Did you know our credit rating has already been lowered?

        The current direction Obama and the Democrats are taking this country is being built on a house of cards. FDR is lauded by many liberals as the savior of the Great Depression and what Obama is doing in terms of spending and expanding government is almost an exact carbon copy of what FDR did back in the 1930′s. However, if you’ll take the time to study your history you’ll discover that FDR actually prolonged the depression about 8 years longer than was necessary with these same kind of spending policies and government expansion. And, by the way, did you know that at one point FDR was so desparate for money with which to pay for his programs he wanted to tax everyone making over $25,000 a year 100%? Or that that it took a ruling from the Supreme Court to stop him?

        In technical terms this massive spending policy is called Keneysian economics, and it’s been tried numerous times times in the past. Yet not once has it ever succeeded. In every instance the country was eventually mired in debt and its economy rapidly deteriorated. As former British Prime Minister Margaret Thatcher put it, “The problem with using eveybody else’s money to pay your bills is that you eventually run out out of their money.”

        Okay, now let’s talk specific programs starting with the $787 billion stimulus — the one that was touted to be so critical to staving off chaos that had to be passed by Congress in such a hurry that not one person read it but not actually signed into law until four or five days later. Give me some facts on how this is working. You can’t because they’re just not out there. First of all, only about 6% of those funds are actually in the pipeline. Why? Two reasons: Because (1)nobody took the time to come up with proper oversight beforehand ($billions are missing and nobody seems to know where it is) and (2) the bulk of the funding doesn’t even kick in until two and three years down the road. Even the administration is now beginning to question whether or not it’s working. The facts clearly show that it is not. Just last week unemployment (which was not supposed to hit 9% until late fall) reached 8.9%. Consumer spending is down. Credit is still very hard to come by at the banks — and that’s not surprising when you find out what the government and the media aren’t telling you. The banks are so loaded with new regulations and costs their hands are still tied. For example, I spoke to the local bank and learned that insurance they’d previously had to buy cost about $700,000 per year. Now, it has skyrockted to between $6 and $7 million annually. Forty-eight out of fifty states are now operating in the red, yet when California (one of the deepest in debt) wanted to cut $74 million from their budget, they were strong-armed by the federal government (with the Employees International Service Union sitting in on the negotiations) and threatened with the loss of federal funding if they didn’t abandon the cuts. And, speaking of unions, the amount of power they’re being rewarded with is another genuine concern.

        Take the Chrysler bankruptcy, for example. Even though the UAW was as responsible for the failure as management, no weight at all was given to their culpability in the downfall. Instead, they received reimbursement for all the legacy funds they were lacking (which means union employees will enjoy their full pensions while everybody else watches their 401K’s and IRA’s tank) and a major ownership share of the company including one directorship on the board (which along with the federal government’s 4 directorships gives the two control). All this as an unseured creditor while the bond holders (secured creditors who should have been given precedence) are left with practically nothing. How would you feel if you had invested in a company as a secured creditor with protection under existing bankruptcy laws only to see your investment evaporate without due cause? Not too happy I would think.

        Then there’s the recent announcement of an upcoming crackdown on individuals and corporations with offshore accounts and business activities. I totally agree with more regulation of offshore accounts but unfortunately the administration didn’t stop there. They also want to add an American tax on businesses who have operations abroad, which means they will be double taxed. With America’s corporate tax already being one of the highest in the world, this certainly won’t stop outsourcing or bring jobs home. It will have the opposite effect of driving business out of the country altogether, the result being further loss of revenue and jobs.

        Finally, there’s the matter of Obama’s $2 or $3 trillion green energy policy with its cap and trade (translation carbon tax). If passed, this program will devastate the country even farther. Are you aware that if enacted as presented, economists estimate the cost per year to every family will be around $3,100 — every year from now on — and that we can expect the loss of an additional 7 million jobs. This program is based on the energy plan adopted by Spain in the 1990′s. Do you know how they’ve faired? Energy costs have skyrocketed. They estimate that for every green job created, 2.5 regular jobs have been lost resulting in a huge jump in unemployment to a current 17%. In addition, businesses that used to come to Spain for the favorable environment are now leaving the country in droves, driving their economy down and putting them deeper in debt. And, to make matters even worse for us, the plan being proposed by the administration intends to auction carbon credits. This means heavy energy use businesses won’t even be able to formulate accurate cost projections creating an even unfriendlier commercial environment. I can’t believe anyone with an ounce of common sense, regardless of their political affiliation, would support something this potentially disastrous — and especially since they’re “putting the cart before the horse” when it comes to global warming in general.

        Before proceeding with any kind of green energy program, it would seem prudent to have a fair and open discussion about global warming. But, of course that’s not happening. How can anybody make an intelligent decision without having all the facts? Gore and his sycophants would have us believe there is no debate insofar as the science, but there certainly is. What about the fact that the earth has been cooling since 2001? What about the polar ice that is growing? What about the 30,000+ scientists that are now disavowing the computer models as invalid? What about the fact that humans are responsible for only about 2% of the greenhouse gases while the rest is produced naturally by the ocean and in the atmosphere? What about the fact that although China and India are two of the world’s biggest emitters of CO2, neither intends to do anything about it as long as the current world economic situation exists and that according to the UN’s Kyoto Protocol they don’t have to anyway because they are designated as emerging nations rather than developed nations as the US is classified? What about the fact that we don’t have to subject ourselves to such a potential financial burden and potential economic disaster if instead we use our own natural fossil fuel resources to bridge the gap to alternative energy in a more timely manner?

        I have only one more thing to add to this rather lengthy reply and that pertains to something you said about living free and voting liberal. Please explain to me how you’re going to accomplish the living free part when almost daily you’re losing another freedom and/or right to make your own decision thanks to your liberal vote. Maybe we just don’t define freedom the same way.

        • Valverde

          Right on, Kay. I couldn’t have said it better myself. Did you know that FDR was one of the stupidest men ever to be President. In fact, that is why the Dimocrap leadership pushed him because they they he would be easy to manipulate. They were right.

        • Bob Wire

          Well Kay, ~ you don’t have to be a Republican to see all sides of an issue. And if Conservatives do see all sides as you suggest, they discount much of what I find important.

          ~ That was a very polarizing opening statement ~ basically telling everyone , HEY! if you don’t agree, that only conservatives see “all side” of an issue ~ Don’t waste time reading the rest of my post!

          so I didn’t get much farther with it.

          So you wish to only appeal to “like minds” I suppose as you are preaching to the choir ~ a Pep Rally of sorts ~ This might be a fun thing to do ~ but it not going to bring in votes, ~ You already have these peoples vote. but you don’t have mine. ~ and you didn’t say anything to change my mind.

          Where did the 787 billion go?

          >> Nationally, $321.4 billion in stimulus money out of a total of $787 billion has been spent through the end of March, the most recent reporting period, according to the website Recovery.gov. Texas has spent close to half of the $22.8 billion it was allocated, according to R.J. DeSilva, a spokesman for the comptroller.

          Both the national and state totals, however, are buoyed by billions in entitlement and tax relief payments that were made in lump sums at the passage of the recovery act. In question are the programs like the Weatherization Assistance Programs across the country, which are part of $275 billion in stimulus for contracts, grants and loans for programs and projects that were supposed to do the heavy lifting of job creation. Just $97.4 billion or a little more than 35 percent of that money has gone out the federal door.

          The states, however, are reporting that they have spent $61.6 billion, a nearly $36 billion gap between what the government says it sent out, leaving nearly $215 billion to spend, according to the new Recovery.gov figures.

          Texas is doing far worse in the contracts category than the national average, having spent $2.9 billion out of $13.2 billion. The percentage of spending is worse than only New York among the top five recipients of contract funding through stimulus. California, the top recipient with $22.2 billion has so far spent $8.8 billion or 39.6 percent of the total.<>Feb 10th 2010
          Wall Street Journal
          WASHINGTON—The Obama administration’s economic-stimulus program has delivered about a third of its total $787 billion budget during its first year, much of that to maintain social services and government jobs and to provide tax cuts for workers. Now, the pace and direction of stimulus spending are about to change.

          Infrastructure spending is set to step up in the second year of the stimulus program, which should mean more money flowing to private-sector employers. Still, economists say that won’t likely have a big effect on the unemployment rate, which most say is likely to continue a slow decline as the broader economy recovers.

          The shift could be significant politically, though, because Republicans have criticized the relative lack of private business hiring directly attributed to the stimulus.<<>$787 billion stimulus bill: National boon or boondoggle?
          By Ken Robertson, Herald Executive Editor

          So, was the federal $787 billion stimulus package a budget-buster that frittered away money on make-work projects and ensured your grandkids will spend their lives up to their necks in federal debt?

          To judge from my conversations with Tri-Citians, many think it definitely was the former, not the latter.

          Even among folks who work at Hanford, where $1.9 billion in stimulus money is being spent and has created or saved several thousand jobs, many still seem unswayed by the roughly $10,000 per capita being spent in our region.

          In Sunday’s and Monday’s Herald, whether you bleed Republican red or Democratic blue, you’ll get a clear-eyed look at what the stimulus package has meant in the nation, in Washington and in the Tri-Cities.

          It’s clear the effects of the money have been far-reaching.

          On Sunday, McClatchy Newspapers, the Herald’s parent organization, and the Medill News Service dig into the national impacts of the spending.

          And on Monday, Les Blumenthal, the Herald’s longtime Washington, D.C., bureau reporter, reports on some of the results of the $6.6 billion the stimulus bill eventually is expected to pump into Washington state.

          Here are a couple of tidbits to whet your appetite to read both reports:

          “Some parts of the country have benefited far more from the American Recovery and Reinvestment Act than others have, some sectors of the economy are benefiting far more than others, and it’s difficult to detail exactly where all the money has gone,” the Medill study found.

          And Blumenthal reports the stimulus money has touched many corners of the state beyond Hanford: “Recipients include an Italian restaurant and a chiropractic clinic in Bellingham, a well-known burger joint in Tacoma, a hydroponic gardening store in the Olympia area and a pizza parlor and hair salon in the Tri-Cities.”

          Blumenthal’s story continues: “Most of the attention with stimulus funding has focused on major infrastructure projects and everything from schools to health care and green energy projects. But (Dan) Skelley and tens of thousands like him have been mostly overlooked as they use economic recovery funding to create or save one or two jobs at a time.”

          A Small Business Administration loan benefited Skelley, the owner of a University Place business that sells, repairs and tunes pianos.

          No matter how you feel politically, the stimulus spending has changed your life — and likely will for years to come.

          You won’t want to miss the stories in Sunday’s and Monday’s Herald

          Read more: http://www.tri-cityherald.com/2010/08/06/1121790/787-billion-stimulus-bill-national.html#ixzz0xCidKNQL

          While I’m sorry that you can’t see where the money has gone, you are in good company Kay, neither have I. Texas and Oklahoma are sitting on it, dripping it out, hoping for some midterm benefits and gains is my guess. ~ I will say, while my business is awful, worst AC season in 40 years,~ the phones are no ringing! not once today ! I am beginning to see civil project in the works. Final! sidewalks and curbs are being install. ~ gas lines are being dug up and upgraded. This is a promising sign the way I see things ~ But I’m just a conservative social progressive,(meaning you can’t legislate morality and expect compliance) ~ what do I know? I have only been self employed since 1978, what could I possible know about business and simple money matters. Hells Bells , it’s a cool 75 degrees in my house, maybe it’s cool in everybody’s house and why they not bother to call! I must have fixed them all! I can’t see all side to this quandary! ~ Were a Conservative Republican when you really need one. ~ Down at the NO TELL Hotel with lobbyist that dressed and painted up like a 500 dollar hooker.

  • barterman

    “crackdown”i think he’s smoking crack.

    • dmac68

      I don’t know if he is still haveing the parties at the WH like he was. But I hoped they would raid it and see what they found drug wise. He bragged about being a user in college days. Would bet he still does it.

  • Robert

    strong text
    Sounds about right, this clown will not help the American people to become less dependent on foreign oil instead he wants to help his Islamic buddies and forget the American people who have to pay out the nose to get to work to pay for all of his high priced spending crap that he is doing!!! Look, you have a choice, sit and do nothing or write, email, call, or VOTE and flush this toilet in 2010!!!!

  • mike

    If my memory is correct when Bill and Hillary submitted their financials while she was running for office it showed they had their money in an offshore account. I am sure there is some way to check this out but I am pretty sure that is what I read.

    • Valverde

      You were right. The Clintons never were for anything straight and above board if they could sneak around and hide something.

    • Bob Wire

      The Clinton’s have been audited and investigated closer and more intensely then any person alive or dead.

      The records are there for you to read at your leisure.

  • Tom

    The new Super power and leader of the world in 20 years will be China
    They are not taking part of cap and trade in fact starting up one new coal fired plant
    every ten days. They are reaching out to our businesses and offering them a chance
    to go there and pay no taxes. Add to that that it will be the biggest market in the world. Little legal B.S. to contend with…..I love my country! I am afraid that we are shooting ourselves in the leg with a shotgun with what all is going on here

  • BaltimoreMan

    Five international treaties stand poised, ready for ratification by the new nearly filibuster-proof Senate pushed by the new, nearly-giddy administration. Each of these treaties surrenders a little more of our national sovereignty to an international body governed by a majority of nations that despise the United States.

    Treaties are voluntary agreements among nations to prohibit certain actions, or to accomplish certain objectives. They are typically not enforceable – at this time – except through economic sanctions or nasty tirades at the United Nations or through the international media. Since 1998, however, a new dimension has entered the world – the International Criminal Court. The ICC has not been ratified by the United States, but clearly could be added to the list of treaties that are ready for ratification.

    The ICC was created to prosecute genocide, war crimes, aggression, and – crimes against humanity. Who decides when a national activity falls within the jurisdiction of the ICC? The ICC, of course. So far, the ICC doesn’t have the clout to exercise the authority it has on paper, but the mechanism is there. All it needs is the cooperation and funding of the United States and it will begin to spread its wings.

    It is worth noting that at nearly every U.N. Climate Change Meeting, a delegate from one or more nations will take the podium to bad-mouth the United States for its refusal to ratify the Kyoto Protocol and label the refusal as a “crime against humanity.” The course this administration is charting will empower the ICC to prosecute individuals and companies within sovereign nations for treaty violations that they label “crimes against humanity.”

    The Convention on Biological Diversity

    This treaty provides for government control of virtually all land use. The 16-page treaty is accompanied by an 1140-page instruction book called the Global Biodiversity Assessment, which, on page 993, identifies the Wildlands Project as the “central theme” of the treaty’s land use management scheme.

    The Convention on the Law of the Sea

    Three times, this treaty has been presented to the Senate for ratification, and three times, it did not garner enough support to warrant a vote. This Senate is different; it can, and likely will ratify this thrice-rejected abomination. The Convention on the law of the Sea explicitly says that the exercise on national sovereignty within our territorial seas must conform to the terms of this treaty and other international law. Ratification of this treaty is absolutely the surrender of national sovereignty. It also designates the global commons to be the “heritage of all mankind” under the jurisdiction of the United Nations. And it creates an International Seabed Authority with the power to levy taxes in the form of permit fees and royalties.

    The Convention on the Rights of the Child

    This treaty contains 54 Articles and conveys nearly as many new rights to children. The “right” to receive information” from any source – despite what the parents may have to say about the source – is one example. Essentially, this treaty takes the authority to make decisions about children from the parents and gives the authority to the government.

    The Convention on the Elimination of All Forms of Discrimination Against Women

    This is another U.N. Treaty that seeks to “equalize” everyone by bestowing rights on some people and penalizing others. A CEDAW compliance committee could require 50/50 employment of men and women, regardless of the task or employer’s desire, and, fully implemented, could require that men and women divide housework equally – regardless of which spouse might work outside the home. It is a ridiculous treaty that should not be ratified just to curry favor from the international community.

    Inter-American Convention Against the Illicit Manufacturing of and Trafficking in Firearms, Ammunition, Explosives, and Other Related Materials

    A good way to ignore the Second Amendment is to ratify this treaty, as 30 of the 34 American states (countries) have done. A product of the Clinton era, and now resurrected by President Obama, this treaty would give treaty authority to the regulation of all firearms. Claiming that the Mexican drug problem is worsened by the flow of guns from the United States, the president has announced his intention to push for the treaty’s ratification.

    There are more international treaties, agreements, and resolutions in the wings, waiting in turn to crash down upon unsuspecting Americans, all in the name of “resetting” our image with the international community. These five treaties are at the front of the line and already designated for quick Senate action. Each treaty surrenders a little more national sovereignty, but to the current administration, national sovereignty doesn’t appear to be nearly as important as international approval.

    To steal from one person is theft. To steal from many is taxation.

    • Valverde

      Baltimore, you are right on every count. I wonder if any of the MESS-iah slavish boot lickers have read any of them. I don’t think so. They would rather be promised ice cream and cookies than do anything to save their country.

  • BaltimoreMan

    In my opinion this man is more dangerous then any man in our history he is Benedict Arnold in $1000 suit .He hates everything this country stands for.

  • Luvenia

    I am sorry that my post was misunderstood and when I am done here both parties will hate me. I only meant that the rich (super Rich) have had loop holes for to long. To many ways to pay little or no taxes at all. They will tell you other wise but the numbers are there, again ask anyone that has prepared taxes for many years. Now that that is said I will go beyond that. BOTH PARTIES ARE CROOKS. There is so little,if any difference in Rep. and Dem. but they would have you believe other wise because that is what their bosses want you to believe. They want us to rip each other apart as that way we will never be strong enough to fight the truth. NAFTA, written by a Rep., signed in by a Dem. and supported by both parties. The world is not ready to be one big happy family and the people in the world do not want it. It is the private banks and the super investors of the world that want us to become a ONE WORLD POWER. Our President is no different and has the same bosses that President Bush had. This goes all the way back to the introduction of the Fed bank and beyond. So keep pointing fingers and party bash because that is what they want you to do.

    David Rockeller in 1991 Trilateral Commission Founder

    “We are grateful to the Washington Post, The New York Times, Time Magazine, and the other great publications whose directors have attended our meetings and respected their promises of discretion fro almost forty years.
    It would have been impossible for us to develop our plan for the world if we had been subject to the bright lights of publicity during those years. But the work is now much more sophisticated and prepared to march towards a world power.
    The supranational sovereignty of an intellectual elite and world bankers is surely preferred to the national auto determination practiced in past centuries”

    Do the research and wake up. Unless we come together as a nation and not as a Rep.or Dem. then they have already won. Both parties are puppets and their strings are being pulled by one central group of crooks wanting it all, money and POWER !!

    • dmac68

      This is the very reasons that I am an Independent. Now if we could find some real Independent to run and look out for America and the American people I would bet they would win. Especially when the people find out about the Senate trying to get HR985 very sneaky passed. It is the Obama Birth Certificate Protection Act. This means that no one even the Supreme Court can make him show his BC or any school records. If the American people don’t wake up and get their heads out of the sand we are going to be under a dictator ship. This old granny doesn’t want to see that happen to my great grand kids. They have already been dumped on with unimaginary future debt.
      People are calling all of this junk Socialistic but to this old gal it smacks more of Communism and Nazism. If this keeps up all of the lives that have been lost and ruined fighting for freedom for the American people and our Constitution in over 200 yrs were all in vain. Down the toilet. Does no one have the pride in being an American and having the best country in the world? What is happening to the younger people?

      • Bob Wire

        >>>H.R. 985:

        Whistleblower Protection Enhancement Act of 2007
        110th Congress

        This is a bill in the U.S. Congress originating in the House of Representatives (“H.R.”). A bill must be passed by both the House and Senate and then be signed by the President before it becomes law.

        Bill numbers restart from 1 every two years. Each two-year cycle is called a session of Congress. This bill was created in the 110th Congress, in 2007-2008.

        The titles of bills are written by the bill’s sponsor and are a part of the legislation itself. GovTrack does not editorialize bill summaries.
        2007-2008

        Tweet This
        Use #usbill #hr985/110
        our recommended hashtags
        Track H.R. 985 [110th]

        Because this bill was introduced in a previous session of Congress, no more action can occur on it.
        Bookmark this bill in your Trackers page so you can find it again later. This bill no longer generates events.

        See H.R. 985 [110th] on THOMAS for the official source of information on this bill or resolution.

        To amend title 5, United States Code, to clarify which disclosures of information are protected from prohibited personnel practices; to require a statement in nondisclosure policies, forms, and agreements to the effect that such policies, forms, and agreements are consistent with certain disclosure protections, and for other purposes.<<

        How So?

      • Bob Wire

        Young people are not running the country, old farts are.

  • Danny

    Dear Liberty Digest: My Friend Who Wanted to know my leanings/Said he doesan’t care, and he thanks the current leader, is doing a good job. I am personally an American/I didn’ t learn this from anyone.-I realized it, an felt at home. Latter i found out what a wonderful gift, i had inherited. There is more to human life, when it is known, by the individual/ than those who have not the conciousness, that- is the true life.!

  • LARRY

    I DON’T KNOW JUST WHERE HE IS GETTING HIS INFORMATION , FROM ANOTHER PLANET , BUT CRACKING DOWN ON OFFSHORE ASSETS WON’T CREATE JOBS IT WILL JUST SHUT DOWN WHAT JOBS THAT ARE ALREADY THERE .. MAN HE WILL JUST SHOOT FOR ANYTHING SO MAYBE SOMETHING MAY HIT ..

    • Bob Wire

      No he promised us , he was going to crack down on tax fraud and phony off shore account that people used to avoid paying taxed.

      He stopping the leaks and plugging holes, attempting to make the system “fair” ‘er for more Americans. Spread the burden ~ spread the load.

      You know 43 tax cut was impart to assure his second term. We got them and he got his second term. ~ The agreement made and has been honored.

      Obama didn’t offer us such a deal, in fact ~ he told us ~ the party was over and it’s time to pony up.

      From the looks of the General Ledger ~ it’s well pasted time.

      Don’t you just hate it! ~ I do. ~ I hate to give away my money ~ but if I must ~ I expect other too.

  • Kim Rozell

    How is all that hope and change working for you? How is that new GREEN Job you got working out? Good stuff huh? Well I am now unemployed because of it. Well since The White House estimates the plan will save around $200 billion over the next decade, that is what? $20 billion a year? How much is it going to cost us to get the $20 billion? Say, did they not already pay taxes on the money when it left the country? It is already suppose to according to 1964 tax law. If it were wired overseas it would have a paper trail for the IRS to follow.

  • conversion money

    Can anybody remember when the times were not hard and money not scarce?

    • Bob Wire

      Yea ! 1967 ~

      The nerve of this President ! He is doing what he said he’d do!

      Don’t he know ~ that’s just not right!!!

      Making a big deal over wealthy people avoiding paying Federal Taxes ~ after the Tax cut! Chasing them down like criminals !

      It’s damn un American what he’s doing!

  • E

    Your sexist remark is totally uncalled for.

  • http://www.veoh.com/videos/v194073374KpexA3G Jean-Christophe

    Success in business requires training and discipline and hard work. But if you’re not frightened by these things, the opportunities are just as great today as they ever were.

  • madmary

    Frank, you are INCORRECT. Muslims will be coming to America because of this BILL. IT’S TRUE. Go read it yourself.

    Barry Soetoro is a fraud.

  • Bob Wire

    I was making $2.47 per hour in 67 on a 500 pound bomb line. 10cents more then my father, a licensed electrician working for the railroad.

    He was making 75.00 a month house payment on a GI home bought in 1955, while I was paying 325.00 per month to rent a dump.

    There was a lot of disparity then, as there is now. I worked 76 hours one week and gave my bide the payroll check, 567. or so take home pay.

    She says , Dar that’s not enough ! what are we going to do !???

    I said , I don’t know what you are going to do babe, but I’m going to bed.

  • hoser

    Any word on GE’s offshore accounts? You may want to look into it.

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