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More Democrats break with Obama on tax cuts

Whovian said:
You, um, DO realize that the exit strategy for Iraq was put in place by Bush... right? That Obama simply followed through with it? That it wsn't 'his' idea?

If you're going to give Obama credit for the exit strategy in Iraq, I'm guessing you go along with Pelosi when she called the 'Bush Tax Cuts', the 'Obama Middle Class Tax Cuts' & at the same time, called for ending the 'Bush Tax cuts for the wealthy'... whcih were both just the original 'Bush tax Cuts'.
You need to really get your facts staight. The Obama tax cuts, pelosi if reffering to, are the ones obama gave 95% of all working families, he used that crappy ol stimulus bill to give it to em.
Incorrect. She was directly referring to the upcoming vote on 'extending' what are commonly called the Bush tax cuts.

As House Democrats and Republicans jockey over whether to allow a continuation of tax cuts passed nearly a decade ago or whether to raise taxes next year on some Americans, House Speaker Nancy Pelosi said Thursday that she's all for "the extension of the Obama middle-income tax cuts."

"What I believe the American people deserve is a tax cut for the middle class," Pelosi said during her weekly press briefing. "And without getting into procedure and timing and process, what we're going to do is to say at the end of the day, the extension of the Obama middle-income tax cuts will take place, and that's what I have to say on the subject."
 
...Cowboy Diplomacy never works...

Bend-Over-and-Take-it-Diplomacy works so much better. :lamo . After all, when you're feeling abused by your enemies, you can always take it out on your allies.
 
Let me see if I've got this right.

Wall Street goes on a drunken binge from 2001 to the crash in 2008. The Street is spurred by the removal of most regulations and by the creation of new financial devices like derivatives and credit default swaps. One hedge fund manager, a derivatives specialist, estimates that about two percent of the Street people who use derivatives really understand them. But no difference. You can use these devices and others like them to roll over deals like sub prime mortgages and sell them to the next customer -- and you take a big bonus as soon as the deals are made. The whole Ponzi-like scheme collapses in 2008. Some 8.5 million jobs are lost in 2008 and 2009 alone and several million people lose their homes. But the feds come to the rescue with a $700 billion payout in 2008, no strings attached. Wall Street recovers and in 2009 is again giving billions in bonuses. Now here's where it gets confusing ... Obama is the one responsible for all the jobs lost?

As early as 2001, the Bush administration was warning about the government-sponsored enterprises that caused this crash (Fannie Mae, Freddie Mac).

John McCain in 2005--"I join as a cosponsor of the Federal Housing Enterprise Regulatory Reform Act of 2005, S. 190, to underscore my support for quick passage of GSE regulatory reform legislation. If Congress does not act, American taxpayers will continue to be exposed to the enormous risk that Fannie Mae and Freddie Mac pose to the housing market, the overall financial system, and the economy as a whole."

Democrats, including Obama, came to the rescue of Wall Street fat cats in 2008 with a $700 billion payout, no strings attached. Unfortunately, some republicans including McCain and Bush went along with the democrat plan. Short answer to your question is yes. Obama is partially responsible because he supports and voted for the policies that got us where we are.

Throw in a $Trillion "stimulus" package that was all democrat and here we sit.

Ok, so let me also get something straight, Obama gets out of Iraq(the unjust war), and Obama tries to finish the job responsible( because the last prez fked up and left early) and Obama is still getting hounded by deficit spending? ( We wouldnt have had to do this if Bush would have finished it in the first place)

Obama gets out of Iraq by continuing Bush policies and time-frame...I'm just saying is all.

Class warfare? So what were the bush tax cuts if they helped the richest 2% of people the most? Was it not class warfare? Borrow another trillion from our grandchildren( me & my children) so that we can give rich people more money? I don't think so.

Not taking is not the same as giving, so in answer to your question, no. Not taking is not class warfare.
 
Bend-Over-and-Take-it-Diplomacy works so much better. :lamo . After all, when you're feeling abused by your enemies, you can always take it out on your allies.

No, actual diplomacy is a valid effort, something many hawks fail to recoginize. Smart people talk even to their enemies. Idiots refuse to talk and believe just blowing **** up will always fix things.
 
You're better at the top of your list CP. I hope as you age you learn more, but you really know too little about people. If GM failed, the reprecussions on those in office would be far more than they will be now. Our leaders know this, and what you call for would never happen no matter who was in office. And being on unemployment isn't really keeping any real number from getting work. That's more a myth on the part of the complaining class.

But, I would be interested in hearing from you in 20 or 30 years.

NEWSFLASH.....GM did fail, took our money, and are in the process of failing all over again. Good going.

"Unemployment compensation" decreases the motivation to do what needs to be done. Usually, that means moving, taking a pay cut, or doing a job you don't really want to do.
 
NEWSFLASH.....GM did fail, took our money, and are in the process of failing all over again. Good going.

"Unemployment compensation" decreases the motivation to do what needs to be done. Usually, that means moving, taking a pay cut, or doing a job you don't really want to do.

why do you say that?
 
NEWSFLASH.....GM did fail, took our money, and are in the process of failing all over again. Good going.

"Unemployment compensation" decreases the motivation to do what needs to be done. Usually, that means moving, taking a pay cut, or doing a job you don't really want to do.

Same as the other times they failed and we bailed them out. Bailing them out is not new. Nor limited to democrats bailing them. Only think obama did different is he tried to have a way to get our money back.

And if he did not bail them out, again, the consequences would have been greater for him and democrats, just as it would have been had republicans been in charge. That's why no party would have "NOT" bailed them out.
 
NEWSFLASH.....GM did fail, took our money, and are in the process of failing all over again. Good going.

Please stop using the slow economy to justify your political fear mongering...

GM is still keeping millions employed and still have the chance to recover. Jobs are the things that count now. Sooner or later people will ignore the contrived bad news and start buying again... Like always...

ricksfolly
 
No, actual diplomacy is a valid effort, something many hawks fail to recoginize. Smart people talk even to their enemies. Idiots refuse to talk and believe just blowing **** up will always fix things.

Yes, smart people talk to their enemies. Smart people also know who there friends are. Idiots treat their enemies like friends and their friends like enemies. Their enemies don't respect them and their friends begin to hate them.
 
why do you say that?

Why do I say they failed?

Paul Ingrassia: The Lessons of the GM Bankruptcy - WSJ.com

Or why do I say they are in the process of failing all over again?

1. They are owned and run by the US government, the Canadian government, and the UAW.
2. They are pouring all their R&D into an electric car that very few people want to buy, and they are trying to sell said undesired car for double the cost of a comparable car.
3. Nothing has changed fundamentally about the way the company is run (feel free to point me to some evidence otherwise).

Or why do I say that unemployment compensation decreases motivation? Do I really need to answer that?
 
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aug 12: GM profit improves, setting stage for sale of shares - Aug. 12, 2010

IPO key to repaying bailout

The sale of shares will be a key event in the company's efforts to repay most of the $50 billion in federal assistance it received last year to continue operations before and during its bankruptcy reorganization.

In May, when it reported first-quarter results, analysts estimated that the company would have a total market value of between $64 billion and $90 billion once it went public, a range that would allow Treasury to break even or make a profit on the bailout.

But such a value is by no means certain. It would not only dwarf the current $42 billion market value of rival Ford Motor (F, Fortune 500), it would also be the most GM stock has ever been worth in its history. According to the the Center for Research in Security Prices at the University of Chicago, the company's greatest value was $61 billion in May 1999.

sept 1: FT.com / Companies / Automobiles - GM sales dip casts shadow over IPO

sept 4: UPDATE 2-Taxpayers likely to face initial loss on GM IPO-sources | Reuters

sept 24: GM must sell for $134 a share for U.S. to recover investment

oct 1: 27% Avoid Buying GM Cars Due to Bailout - Rasmussen Reports™
 
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Financial Times doesn't load

It's not surprising there will be a loss on the face value of the GM bailout. But what you ignore is the saved costs in unemployment as well as tax revenue from the direct and indirect spending down the supply chain.

From your fourth link:

"Last week, in fact, Morningstar analyst David Whiston issued a preliminary estimate setting the shares' fair value at $134.

"GM's cost structure is drastically improved," Whiston wrote in a Sept. 13 note to investors. "We think GM's earning potential is excellent because it finally has a healthy North American unit and can focus its marketing efforts on just four brands instead of eight. . . . We think it is critical for investors to know that GM now makes excellent car models as well as light trucks."

GM's rising car sales suggest that the poll doesn't matter.
 
gm had its worst august in decades

ipo is principal to recouping taxpayers

aint gonna happen

54% told scott rasmussen (founder of espn) they're less likely to buy gm cuz the federal govt is majority owner

sorry
 
Yes, smart people talk to their enemies. Smart people also know who there friends are. Idiots treat their enemies like friends and their friends like enemies. Their enemies don't respect them and their friends begin to hate them.

But saying anyone is doing that would be a complete inaccuracy, a complete falsehood.
 
tell it to cnn

The nation's top automakers reported disappointing sales Wednesday, resulting in the worst August for industrywide auto sales in 27 years.

Industry sales also fell 5% from July levels. August sales typically outpace July, as deals become available on older models ahead of the fall introduction of new model year cars.
 
Boo Radley;1059028279]Same as the other times they failed and we bailed them out. Bailing them out is not new. Nor limited to democrats bailing them. Only think obama did different is he tried to have a way to get our money back.

And if he did not bail them out, again, the consequences would have been greater for him and democrats, just as it would have been had republicans been in charge. That's why no party would have "NOT" bailed them out.

Yes, every automobile company should always be bailed out. That way we could all still be driving Willys, Packards, Nash Ramblers, Reos, Edsels, etc. The selection would be fantastic! I'm a Studebaker man myself.

Maybe the US Government should finance all these companies to get back into business again in order to create still more jobs and make the unions even more powerful.. It really makes a lot of sense, doesn't it!
 
Yes, every automobile company should always be bailed out. That way we could all still be driving Willys, Packards, Nash Ramblers, Reos, Edsels, etc. The selection would be fantastic! I'm a Studebaker man myself.

Maybe the US Government should finance all these companies to get back into business again in order to create still more jobs and make the unions even more powerful.. It really makes a lot of sense, doesn't it!

No where did I say should. But regardless of what any of us think should be, no politician was going to let them fail. And if one did, that politician would be unemployed the next election cycle. Denying the truth isn't helpful. Government is acting the way we demand they act. And it is for just this reason Medicare, SS, and military spending will not be cut either. We the people make it impossible form our leaders to actually do the things needed and keep their jobs. You want to blame someone, look around you.
 
No where did I say should. But regardless of what any of us think should be, no politician was going to let them fail. And if one did, that politician would be unemployed the next election cycle. Denying the truth isn't helpful. Government is acting the way we demand they act. And it is for just this reason Medicare, SS, and military spending will not be cut either. We the people make it impossible form our leaders to actually do the things needed and keep their jobs. You want to blame someone, look around you.

The Tea Party seems to be having an effect.
 
The Tea Party seems to be having an effect.

An effect? Maybe. But not a positive one. They are incoherent and ignore reality. And have led to some real nutter candidates winning.
 
An effect? Maybe. But not a positive one. They are incoherent and ignore reality. And have led to some real nutter candidates winning.

This is the other reality.

"But regardless of what any of us think should be, no politician was going to let them fail. And if one did, that politician would be unemployed the next election cycle"

This not allowing any business to fail is a rather new concept to the United States and obviously not a healthy one for the people. It's amazing to me that there are so many who speak out against "Big Business" on the one hand who appear to support their bailouts with the other.

So you are a fan of large multinational corporations then?

The Tea Party is against bailouts while you and many others are for them. The line appears clear enough.
 
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