Open Question: What do you thing of this idea to get the country back on its feet. ?
Easy business loans or Grants. With the number of forecloses most Americans credit is crap. With the banks cutting the amount you can borrow or lowering the amount you have already, or raising the requirements to get any type of financing we will never get out of this hole we are in.
(For example I had a nice home I bought with a credit score of 580 in 2006. Know you need a 620 or higher and the value of the home isn’t there. So how does a person get out of this? Yes there are government programs helping but you have to be current and you have to have 3 jobs just to be qualified.)
Back to the business Loan or Grant the key to this in my mind would be 1. A well made business plan. I feel when people are out of work they try to make money everywhere they can. We think of new ideas,
If Big Bother wants to tell us what to do and when to do it. Then He should help us when we need it. What will 600.00 do to help us with this problem? Let me tell you just buy more beer to forget are problems for a few days or pay the interest on that credit card people are living on if they have any credit left.
Yes I know there are State programs helping with this but the requirements are out of this world. At this time there are no Government programs I have found to help with a loan or grant for a Small Business. Also most investment capitalize work with only companies wanting 2 ½ million or more.
This is an important issue. What do you think? What is your idea? Please don’t answer this just to get point or answer it with something like we are doomed.
Give real solutions? Who knows there could be someone that could make this happen out there.
moreOpen Question: is there small business loans from the government i dont have to pay back?
Im already in the whole a bit just need a bit to ge tme started u know
ive thought about a partner but its last resort.
oh and by the way
i have terrible credit
moreOpen Question: What is the likelihood I'll get government aid for school?
I live by myself, no roommates, I make about $950 a month, and my mom is still paying back her school loans. Supposedly they still have a financial obligation to me but there is no way they can afford to pay for my college education. My dad works at an inland port, and my mom is just now getting a job that relates to her career choice, and still has a second job trying to pay down school loans. Is it very likely that i will even be able to get FAFSA. My b/f and his sister cant get one because their mom owns her own business, my mom is an "independent contractor" for a company for which she has to pay a "small business tax on" (which is really BS). Is it likely i would be able to get it at all even if i can't pay for it in any way. My mom makes less than i do monthly. (tho idk what hew new job pays)
**what her new job pays **typo**
moreVoting Question: government loans to small businesses?
I need a loan to expand a small business. What website do I go to?
moreResolved Question: how do I get a government small business loan?
i am a single female. i am a minority. i am very young, i currently do not have a job, but i own my home 100%.
because i am not working i want to open up my own small business.
i keep hearing about how their are government small business loan for minority women.
how do i find more information about one, and how do i get one?
is it better if i get a government loan, or just try to get a home equity loan from a bank even though i am not working?
moreResolved Question: help please history!!!!!!!?
21: Among Latin Americans, United States actions related to the Panama Canal created
hope for a prosperous future
ill will toward the United States
calls for Roosevelt's impeachment
a long-lasting economic crisis
22: Progressivism was halted by
the efforts of the NAACP
World War I
the repeal of the prohibition amendment
the victory of the Bull Moose Party
23: Which belief was held by most Progressives?
The government should be more accountable to its citizens.
Housing and healthcare should remain private.
The government should protect agricultural interests.
The government should intervene in unfair business practices.
24: One goal that Progressives did not seek was
the moral improvement of society
the reduction of government corruption
a ban on strikes
child labor laws
25: One way reformers hoped to end corruption in government was to
establish an income tax
give voters more direct say in lawmaking
provide more welfare services
use the army to oust political machines
26: The platform of the Bull Moose Party supported
unregulated competition
the 12-hour work day
women's suffrage
a Federal Trade Commission
27: Under the terms of the Sussex pledge, the German government promised that
the German navy would not attack any American ships
German ships would not blockade Britain and France
German U-boats would warn ships before attacking
the German army would never invade Russia
28: The United States decided to enter World War I in response to
Germany's return to unrestricted submarine warfare
France's fall to the Central Powers
the Czar's growing support in Russia
a filibuster by United States senators
29: German submarines aimed to atack ships that were carrying
weapons to the Allies
passengers to the United States
food to the Central Powers
oil to Mexico
30: At the Paris Peace Conference, President Wilson's program for peace
angered the Russians
met no resistance among the Allies
was backed only by France
underwent several changes
31: After Wilson presented the treaty to the United States Senate,
the Senate ratified it
only the "irreconcilables" backed it
the Senate rejected it
only the "reservationists" backed it
32: One result of Prohibition during the 1920s was
an increase in alcoholism
a decline in dancing and socializing
the rise of organized crime
the creation of urban artistic colonies
33: Which of the following was a long-term effect of Prohibition?
the consumer economy
the growth of organized crime
an end to alcoholism in the United States
the rise of fundamentalism
34: William Jennings Bryan took up the cause of fundamentalist Christians
at speakeasies in Chicago
on new buses to the suburbs
at the Scopes trial
in Hollywood studios
35: Key features of Republican administrations of the 1920s included
expansionism and business regulation
isolationism and laissez-faire business policy
a buildup of armaments and armed forces
reduction of quotas and increased immigration
36: Why did many Americans fear Vladimir I. Lenin and his followers, the Bolsheviks?
They promoted a system that was hostile to American values
They refused to pay back Russia's war debts
They had abolished the Russian monarchy
They encouraged other nations to reject socialism
37: Generally, the 1920s were marked by
rising farm prices
rising stock prices
falling production
falling wages
38: One sign that the economy might be weakening in the 1920s was
uneven distribution of national wealth
underproduction of consumer goods
an increase in personal savings
the collapse of large corporations
39: Which statement best describes the American economy in the 1920s?
Wages decreased and the economy appeared weak
Unemployment was at an all-time high
Stock prices rose and the economy appeared healthy
Small businesses dominated American industry
40: In the fall of 1929, a wave of panic selling gripped the stock market as a result of
a sudden fall in stock prices
corruption among stockbrokers
business failures
government limits on speculation
41: Not long after Black Tuesday, the stock market crash was affecting
only those who had invested heavily in stocks
wealthy industrialists almost exculsively
millions of Americans, many of whom had never owned stocks
mainly stockbrokers and banks
42: Why did FDR declare a "bank holiday" early in his administration?
to cut of the use of cash
to weaken the banking industry
to inspect the financial health of the banks
to give people in the banking industry a well-earned vacation
43: Which New Deal agency was created to help businesses?
Federal Reserve Board
National Recovery Administration
Civilian Conservation Corps
Home Owner's Loan Corporation
44: Which of the following did New Deal programs fail to address?
protection
moreResolved Question: government loans to small business UK only answers please?
Since the budget statement i have been trying to find out how the government is actually going to throw us small businesses with cash flow challenges the vat/tax and loan guarentees. Is it spin or has anyone worked out how to grab on to this life line?
moreResolved Question: A bottom up approach means investing in education,Ok so question? Solutions?
A bottom up approach means investing in education, job training, GI Bills, student grants, and subsidized loans. It means helping people and small business work their way up. Ok so question? Solutions?
A bottom up approach means investing in education – where does this money come from? Besides the Alummi who give millions
job training - for who and for what? And who pays for the training where does the money come from?
GI Bills, I thought we had those already?
Student grants – Don’t everyone from Hersheys chocolate and Planned Parenthood to the NAACP, schools, Alumni etc.. and the government have these things in place already??
Subsidized loans - I thought we had these and if we need more where does the money come from? And what about those who start school and don’t finish or pay back the loans ever does this matter or no cause it would be the minority (the exception not the rule)?
It means helping people and small business work their way up, Small businesses are the heart beat of America
I thought we had small businesses and small business loans etc… for those who wanted it and could qualify
Where does the money come from where do we get it from?
What solutions do you have to solve the money aspect of this? I know Taxes, right? is there any limits?
moreResolved Question: Loans available for people who want to start up a small business but who do not have a job?
Hi I'm 17 and I want to start my own business which is going to be a small airport transfers business so a bus going from the airport to the eastern suburbs.
I was wondering if the bank would let me get a loan of say $6,000 max. So I can buy a van, pay for insurance and all the application fees, etc.
I've tried applying for a government grant but they said they don't give grants out to people starting up a business only for existing business owners.
I've had the odd job here and there but they haven't lasted more than 3 months and on the minimum wage.
Can anyone help??
Thanks heaps!
moreResolved Question: Does the government have Bipolar Bailout disorder? What is the best treatment?
As cornucopian benefits flow from Washington, Uncle Sam turns out to suffer from Bipolar Bailout Disorder. Like a taxpayer-funded Push Me-Pull You, he goes both ways while consuming enormous resources on the road to nowhere.
Today’s gargantuan mess started largely because Washington used Fannie Mae and Freddie Mac to promote affordable housing. “The more pressure there is on these companies, the less we will see in terms of affordable housing,” Rep. Barney Frank (D., Mass.) said in 2003. He described Fannie and Freddie as “fundamentally sound” and added: “I want to roll the dice a little bit more in this situation towards subsidized housing.”
Well, it worked. America is awash in affordable housing. Home prices in 20 major cities plunged 16.6 percent last quarter. That’s bad news if you’re selling, but a bonanza for those seeking affordable housing.
So, rather than declare “mission accomplished,” Uncle Sam has cannon-balled into the mortgage markets to jack up housing prices.
Which is it?
Last September 24, G.W. Bush claimed the $700 billion bailout would relieve distressed banks of “troubled assets that are clogging the financial system.” But just seconds later, Bush continued: “...the value of many of these assets will likely be higher than their current price, because the vast majority of Americans will ultimately pay off their mortgages.”
In that case, are these assets really troubled, or just hung over? If the latter, why not calm down, let them sleep it off, and then arise after a decent interval?
The Troubled Assets Relief Program then endeavored to rescue teetering banks. But to do so, Treasury dragooned prosperous banks into accepting bailout money so their needy competitors would not be stigmatized. This is like a supermarket whose affluent shoppers must accept and spend Food Stamps so low-income customers with Food Stamps don’t appear poor at the checkout stand.
“I think it’s absurd,” says the director of one small mid-Atlantic financial house. “We are a profitable bank. We have zero non-performing loans. We have more capital than we are required to have. We arguably are overcapitalized from an economic and a business point of view. Our only constraint on lending is the demand of credit-worthy borrowers. Our lenders are on the street every day, as they have been throughout this financial crisis, looking to make new loans. Despite that, we are being offered this relatively low-cost capital in the form of this preferred stock to be bought by the federal government.” This bank officer estimates that the Fed is ready to hand his hale and hearty institution between $4 million and $5 million.
This banker notes “the ironic escalation of the interest rate.” The terms of the loan, he marvels, are “five years at 5 percent, then it goes to 9 percent.”
In other words, Washington is giving banks adjustable-rate loans. This perfectly parallels the adjustable-rate mortgages that steered us into this ravine in the first place.
http://article.nationalreview.com/?q=YzBjMmM3MmJlZGUzOWY1YWJiOTc4NGQzNjkzMjY0NjA=
The whole article is good. It points out that despite the panic of passing $700 billion in bailouts immediately without review, Bush is leaving $350 to have Obama allocate them. The Federal Reserve is out of reserves, and the article says 'this goes way beyond 'show me the money', now it is 'throw me the money'.
Are we ready yet to demand fiscal accountability and transparency, at minimum of our government and the federal reserve? Would you back HR 2755 to abolish the fed that injected two TRILLION in credit recently, per Bloomberg, and refuses to say who got it?
TJTB - I hadn't seen that. Makes me mad, but who DIDN'T see this coming at least for the last year, at least on SOME scale? I mean, say only the Austrian School devotees predicted the extent, EVERYONE knew subprime mortgage structures were bad. Where do they get off speculating in markets to begin with?
moreResolved Question: How would you fix this economy?
Here are my ideas. What are yours?
1) Small scale lending must be nationalized. The "free market" has little interest in lending to individuals and small businesses. The "free market" will always avoid the risk of small loans. It isn't something that will get better with affluence or wealth. Thus, all of the historic government programs designed to facilitate lending to small borrowers must be nationalized or firmly regulated like a monopoly. The historic separation of risk and reward, the co-signing or guaranteeing of loans that has been done by Freddy mac, fanny May, FHA and others, needs to be scrapped for a government department dedicated to small capitalization lending, or heavily regulate it. Most mortgages and small business loans will fall into this category, say anything under a million dollars. Here is an easy way to think of it: We all understand that utilities have monopoly power and must be regulated. Think of residential lending in the same way. The free market will not willingly fulfill this function. The current system of private funding and government guarantee is a separation of function that simply does not work. Do you find this idea somewhat socialist? Then is the regulation of your utility company also socialist?
2) the aspects of derivative trading legalized by the "Financial reform act of 2001" needs to be repealed, permanently, or revised to have the same underwriting and capitalization requirements as the insurance industry. If an insurance business insures beyond their means, then they are consequently held criminally liable. Derivative trades must be held to the same standard. Is this too harsh? Too conservative? Then why do we hold the insurance industry to this standard, and not the investment houses?
3) Outsourcing needs to be taxed to attempt to slow or stop the capital that the the United States bleeds to India, Mexico and China. The amount those countries have grown from our outsourcing, the economic power they've used to bid up the global price of oil, is an accurate measure of the economic power the United States has lost, to outsourcing. Those revenues should be used to help fund higher education (state university systems). Let's build an affluent populous. Are you thinking Smoot Halley? India really likes it that you think that way.
4) the federal government must make provisions to develop energy sources other than foreign oil, primarily wind and nuclear energy. The raping of our coast lines and oceans for oil should be legislated permanently illegal. Notice how the call for drilling has stopped? The destruction of our oceans and coast lines shouldn't be subject to the daily price of oil.
5) disclosure of the terms of adjustable rate mortgages must be required to be in a large font size, in plain English, like effective interest rates are required to be displayed currently on all conventional mortgages. The length and nature of the "teaser" period of ARMs must be legislated to be clear and comprehensive to someone with a sixth grade education.
moreResolved Question: Did you know Ron Paul opposed the bail-out of Chrysler in 1979?
http://westernstandard.blogs.com/shotgun/2008/11/bailout-flashba.html
Some quotes:
“Do we in Congress have the authority, either moral or constitutional, to cause this suffering? I can find no provision in the Constitution authorizing Congress to make loans or loan guarantees to anyone, let alone to major corporations. Nor have I yet seen a valid moral argument concluding that we, as representatives of all the people, have the right to tax the American people – most of whom receive less in wages and benefits than Chrysler workers – to support a multibillion-dollar corporation. What right have we – and I pose a serious question that deserves an answer – what right have we to force the American taxpayers to risk their money in a business venture which private investors dealing in their own funds have judged to be too risky? Chrysler paper is now classified; that means that any private investor who is handling funds for his depositors, shareholders, or clients may be judged as violating his fiduciary responsibilities should he invest in Chrysler. Don’t we have a trust equally important from the American people? Are we not betraying their trust by voting for a Chrysler bailout? I believe so.”
“Last year there were 200,000 bankruptcies in this country, according to U.S. News & World Report. Yet we have selected only the largest for our aid. This is discrimination of the crassest sort. We ignore the smaller victims of this government’s policies simply because they are small. Only the largest, those with the most clout, the most pull, get our attention. This aristocracy of pull is morally indefensible. What answer can be given to the small businessman driven into bankruptcy by government regulations when he asks: “You bailed out Chrysler, why not me?” No justification can be given for this discrimination between the powerful and the powerless, the big and the small.
It is an axiom of our legal system that all citizens are to enjoy the equal protection of the laws. That axiom is violated daily by our tax laws, and now by this proposed corporate welfare plan for Chrysler. Apparently some citizens are more equal than others. That is a notion I reject, and I hope you do, too. I urge you to reject this proposal for all the reasons I have stated.”
Do you agree with him?
moreResolved Question: Bailout flashback: Have you seen Ron Paul's statement on the bailout of Chrysler in 1979? Still relevant?
"“Do we in Congress have the authority, either moral or constitutional, to cause this suffering? I can find no provision in the Constitution authorizing Congress to make loans or loan guarantees to anyone, let alone to major corporations. Nor have I yet seen a valid moral argument concluding that we, as representatives of all the people, have the right to tax the American people – most of whom receive less in wages and benefits than Chrysler workers – to support a multibillion-dollar corporation. What right have we – and I pose a serious question that deserves an answer – what right have we to force the American taxpayers to risk their money in a business venture which private investors dealing in their own funds have judged to be too risky? Chrysler paper is now classified; that means that any private investor who is handling funds for his depositors, shareholders, or clients may be judged as violating his fiduciary responsibilities should he invest in Chrysler. Don’t we have a trust equally important from the American people? Are we not betraying their trust by voting for a Chrysler bailout? I believe so.”
And
“Last year there were 200,000 bankruptcies in this country, according to U.S. News & World Report. Yet we have selected only the largest for our aid. This is discrimination of the crassest sort. We ignore the smaller victims of this government’s policies simply because they are small. Only the largest, those with the most clout, the most pull, get our attention. This aristocracy of pull is morally indefensible. What answer can be given to the small businessman driven into bankruptcy by government regulations when he asks: “You bailed out Chrysler, why not me?” No justification can be given for this discrimination between the powerful and the powerless, the big and the small.
It is an axiom of our legal system that all citizens are to enjoy the equal protection of the laws. That axiom is violated daily by our tax laws, and now by this proposed corporate welfare plan for Chrysler. Apparently some citizens are more equal than others. That is a notion I reject, and I hope you do, too. I urge you to reject this proposal for all the reasons I have stated.”
What do you think? Do those statements apply equally well today?
daniel m, you really should look into those topics a bit more.
moreVoting Question: Small Business Loan for a 23 and 25 year old?
Hi,
I have worked for over 2 years developing a fantastic business plan and putting together a company and an idea to try and thrive in the US. Me and my business partner are now ready to take the next step. We need 260,000.00 in a start up loan to cover all initial costs. I will actually be working for free for the first few months to make this happen and so will he. We are excited and thrilled but are now facing our biggest obstacle. My credit score is a 700 his is a 600. We need to find a lender. The government just passed a bailout package and I think now would be a good time to go on this.
Where should I go to get a loan considering my collateral will not be very high because of my young age?
The sba is my frst thought but the red tape sucks so bad. I was also considering other financial institutions but I am unaware of their collateral proof requirements. Please offer me some advice and help me determine our next step to find a lender. He will cosign with me.
Thanks
moreResolved Question: If the Government gave each individual a check for $2200.00, what would you do with the money?
All these bailouts - we all know they will be never-ending. Now we see
Cities in line asking for money; Real Estate companies want money;
everyone who is doing poorly wants the Government to "bail them out".
I HAVE A BETTER IDEA. Interference in the Free Market is never a
good idea; the reason the housing market got into trouble is simple:
The Government interferred in the housing market when the Democrats
put pressure on Banks and lending companies to give out NINJA loans
which means "no income, no job, no assets"; if you had a pulse, you
got a house, even if you had no job to pay the mortgage. When these
bills came due, there was nobody to pay them.
Instead of interference in the Markets, I propose to take the $700 Billion dollars and divide it equally among EVERY INDIVIDUAL with a
valid social security number: Thats NOT HOUSEHOLD BUT EVERY
INDIVIDUAL - Every man, woman and child. You do the Math: Thats about $2200.00 each person, since there are 306 million people in America - it would even be more than that per person, since not everyone living in America is a citizen with a Social Security number.
The immediate impact of each person getting this money would be:
1. SPEND IN TIME FOR CHRISTMAS, helping the retail markets
2. BUY A NEW CAR/TRUCK, helping the auto industries
3. PAY DOWN CREDIT CARD DEBT, with money leftover to spend
4. MONEY DOWN ON A NEW HOME, helping the housing market
5. INVEST IN STOCKS/BONDS, helping Wall Street
6. INVEST IN EXISTING OR NEW SMALL/HOME BUSINESSES.
7. BUY HOME HEATING FUEL, in time for Winter - taking the burden
off the emergency energy assistance programs already stretched
to the brink, with money left to spend!
EACH INDIVIDUAL WOULD GET A CHECK, so for a household of
4 people, they would get a total of $8000.00; a household of 5 would get 10000.00 and so on.....
THIS WOULD NEGATE ANY NEED FOR ANOTHER STIMULUS PLAN.
AND THINK ABOUT THIS: Every homeless person (citizen) would get
the money - a mother with 2 children on the streets would get $6000.
total which would LIFT HER OFF THE STREETS AND GIVE HER THE OPPORTUNITY TO BECOME A CONTRIBUTING TAXPAYING CITIZEN
AGAIN.
IF YOU RECEIVED $2200.00, MULTIPLY THAT BY THE NUMBER
OF CITIZENS LIVING IN YOUR HOUSEHOLD INCLUDING EVERY CHILD REGARDLESS OF AGE, AND THEN ANSWER THIS:
1. FOR YOU, HOW MUCH MONEY WOULD COME IN ?
2. WHAT WOULD YOU DO WITH THE MONEY?
This question is serious; instead of bailouts, I would like to get an
idea of how much better it would be for the economy to give the money
back to the American people. Please, serious answers only.
Thank you.
moreResolved Question: should government bail out Auto industry?
the US auto industry has been doing poorly for years, and worse now. it's not like they will flourish and pay back the loans.
would the gov bail out your family's small business?
moreResolved Question: Where do I go to learn more about starting my own small business?
Where can I find information for starting my own small business? Also, if I need a few thousand dollars to get it started but don't have the best credit is there a way for me to still get a small business loan (eg. government help)?
moreResolved Question: Here is my solution to the economy what do you think ?
I am a Republican, so I believe in Small Government, Less Tax, and a Strong Military. My Social stances include, Pro-life, Pro-Israel, Pro-marriage, and Pro-NRA.
Subject-wise has hovered around History because much of my political beliefs have been shaped by what I learned in the past. History plays a key role in shaping our future so we can learn from it or repeat our mistakes.
Issues
Taxes
The Republican Party: Working to slash your taxes!
The Republican Party is working every day to cut your taxes! By contrast, professional politicians from the other parties just want more of your money, and are busy increasing the size of government!
In the last few decades, the federal government has exploded in size! No area of your life or business is free from the meddling of politicians -- especially your wallet!
It doesn't have to be that way! With less government and lower taxes, you could keep more of what you earn! It would be easier to start new businesses, build new homes, and fuel stronger economic growth!
Just Defend Our Rights
Republicans believe that if government's role were limited to protecting our lives, rights and property, then America would prosper and thrive as never before! Then the federal government could concentrate on protecting our Constitutional rights and defending us from foreign attack! A federal government that did only those two things, could do them better and at a small fraction of the cost!
How Can We Cut Taxes?
Instead of tending to the basics, government has grown into a bloated conglomerate of political services that gets larger every year -- with no end in sight!
For example, politicians spend millions of dollars to urge people not to smoke -- while spending more millions to subsidize tobacco farmers! They send billions overseas for foreign aid -- while the federal deficit swells! They spend millions to subsidize public art -- while working families struggle to pay their taxes!
Politicians also run trains, bail out savings and loans, construct houses, sell insurance, print books, and build basketball courts -- you name it! But the fact is, every service supplied by the government can be provided better and cheaper by private business!
Privatize And Cut Taxes
All over the world, governments are busy selling airlines, power plants, housing, and factories to private owners! Where inefficient government bureaucrats lost money and squandered tax dollars, hard-working private owners now make profits and create new jobs! Why can't we do the same thing in America?
Defend America: Cut Taxes
Military expenses are over $250 billion a year! A large percentage of this is spent overseas to defend wealthy countries like Germany and Japan -- who then wallop us in international trade! Let's take them off military welfare! We can defend America better and save at least $100 billion a year in taxes!
Stop Bailing Out Industry
No one has the right to cover his losses at taxpayer expense -- and yet wealthy corporations demand exactly that! The federal government has bailed out railroads, banks, and other corporations with your tax dollars! This must stop!
Replace Welfare: Cut Taxes
The bulk of your welfare tax dollars goes to pay the handsome salaries of well-educated welfare workers! The poor get little from government welfare except meager handouts and a cycle of despair! Let's get government out of the charity business! Private charities and groups do a better and more efficient job of helping the truly needy get back on their feet!
Why An Income Tax?
Before 1913, federal income taxes were rare and short-lived! America became the most prosperous nation on earth! The U!S! Government did not try to police the world or play "nanny" to everyone from cradle to grave! People took responsibility for themselves, their families, and their communities! That is how the founders of America thought it should be! And it worked! It can again!
moreResolved Question: How will my mom/brother be supported?
I live away from home while I'm at school and working my Internship, away from my mom (51), brother (12), and dad (52). I'm 19. They are in a very rural area that is almost impossible to get to unless you own a car (no buses or anything go that way), though it's only a couple hours away. Only my dad works, and brings in enough money they can lead a reasonably nice lifestyle, and buy new things, but they don't really have anything extra (they make a major purchase like a tv, computer, stove, etc about twice a year). They have their house and vehicle paid off and don't have any major costs headed their way. I'm completely independent of them and they pay for nothing of mine, though my mom uses my car which I pay for. My dad works at a very small private business (so no pension) and they only have a few thousand in savings and no life insurance.
My mom can't (or refuses to) hold a job, no matter how hard times get. She got a job at YMCA but quit after 1 shift because it was too much work and she expected preferential treatment because of her age, marital status, and kid.
Recently, some events have occurred that lead me to believe my dad my not have long to live (I mean like 3 years or so). I'm not 100% sure, as it's really more of a suspicion and worry... He hasn't exactly led the healthiest lifestyle.
I've never really had anything major in my life happen like a death of anyone I know.. But me and my dad are really close. Me and my brother are close as well, but
IF it happens that my dad were given, say, 3 years to live, I have no idea what would happen to them financially, and neither do they. With very little savings, my mom having no education, or job experience, and the inability to work.... They have no income. At all. They would not be able to keep the house I'm sure, or even have enough to get an apartment together.
How would they be supported in this situation? How do other people do it? Is there some type of government aid? (I live in Ontario Canada by the way)... would they be forced to take out a loan (which they would surely never be given in any reasonable amount)? Even if my mom DID get a job, she would never find anything above minimum wage, and she does horrible with money and budgeting.
Would it be up to me to help them? I do work a well-paying internship, but when It's done, I'll be back to school until the end of 2012, racking up quite the debt. I've been saving enough to pay for myself through to the end of college, but should I be looking to save enough to support my family? Would I ever be expected to drop out of school and work full time to support them?
I just need some advice from someone who has been through this about what happens when someone just can't pay the bills!
(Sorry this is so long but I guess I have a lot to say!)
@Just Say No...
Well I dont know the entirety of it... because I don't see them or talk to them very often at all, but my dad called me today (which he hasn't done more than twice in the 2 years since I moved out), so that was strange... But it was the way he brought up that he had gone to the hospital for all these tests and stuff, and had a CT scan... and was going to a specialist for some other scan...
He doesn't like to elaborate but it was the way he was talking... I guess it's kind of hard to explain because you don't know my dad :)
moreResolved Question: I am having a bunch of Credit problems and I need Credit today!?
I am a 24 yr/old small business owner and it seems I never get a brake! I just keep on jumping into "to-good-to-be-true" offers. I may not jump into to many, but when I do, they are big leaps, generally into, what seems like, a bottomless pit.
I don't have much credit history, and what I do have is BAD!
I started @ 18 by getting a credit card w/ a $600 limit. It wasn't bad, I was making the money, paying it off, then I lost my income. After the card was already maxed out! That was six years ago, so that means if I wait another year or 2 it will be off of my report all together. Well, you might say "problem solved"... but wait, there's more! I went to college, got a supplementary scholarship, my parents covered the rest, and then I hear that I am getting a "refund check". I thought that it was a refund because I got another scholarship somewhere that I applied for, but I was wrong. It was from the government and it was a loan. If I had realized that at that time, I would have put it in a bank in a cd account, but I didn't and then when it came time to pay it back, I didn't know what it was, so I brushed it of as one of the many mistakes that our government makes and ignored it. BIG MISTAKE! Up until now, I have made money through music, on basically a per contract basis. So, money came when it came.
I ended up getting married and when my wife and I did our taxes together this year they took the money I owed. So that is paid off, and it's supposed to be off of my report by now.
Now, here is the big problem! I own a business, a towing business, it's a very profitable business, if your trucks continue to work. Even more profitable if you have a tow lot. I make the majority of my money towing cars from A to B. I can't tap into the largest cash cow in the automotive industry, the government! In MA you need certain "towing rights" to tow for the city and/or state, also if you want to do "trespass towing" (parking lot tows).
Now to my point, I have been having problems with my trucks (2 trucks) and I don't have a lot. A man approached me about his company named Vericomm, it's a merchant services company. He gave me the whole spiel on how they have the best rates around and there is no cost to cancel, no minimum charges required, no charges other than the lease (through MBF LEASING) and a statement fee, it all should have added up to $90 a month.
Now that was all good and fine, but I wasn't getting enough people who wanted to pay by card to get it. So, he told me about something that made financial sense to me. He said that a week after I got the machine, whether I used it or not, I would be able to tap into up to a $150,000 advance, which was paid back by the use of the machine. A percentage would be taken out of every charge, and there would be little or no interest on the advance. He told me thatI was more likely to get about 30k to 50k on my 1st request. This seemed like a dream come true to me, because I could get my trucks in tip top shape and have a down payment for a lease on some property for a tow lot. I knew (and I still know) that if I had that available to me, I would make that money back in just a few short months.
It turned out that, he pushed me passed all of the fine print, that said exactly the opposite of what he said. They ended up charging me over $140 a month and I then found out that the advance is only available to those who regularly bring in $10,000 a week for at least 4 weeks through their company before they would consider me for only $1,500.
Well, I tried to explain my complaint to them and they ignored me and continued to charge my account. I ended up closing my account and now they are threatening to put in on my credit report (I am supposedly, personally liable for about $3,600 for my lease.) and/or take legal action if I don't resolve this in the next 24 hours.
I feel like crap, my credit was just on it's way to getting better. Now my wife is ready to divorce me, my business is in shambles, I have a card machine that doesn't even work, and my credit report is about to get even worse!
Does anyone know any companies that will give me credit today! And is it easier to get a business credit card w/ a personal guarantee, or is it easier to get a personal credit card!
moreResolved Question: I have a restaurant idea I need $ 2 lauch. But I don't want to take out a loan. Where can I get money 2 start?
Currently, the U.S. government only provides small business startup loans. Where can I apply for a grant that will provide me with money for my business?
moreResolved Question: How do I create a winning buisiness plan?
Hi, I am trying to find out the best way to start my own business. I know I need to come up with an idea, business plan ect. my question is, How do I go about writing my Business plan in a way that im sure to obtain a small business loan, and does anyone know how I can file for a government grant to help get me started as well. Im sure there are plenty of questions that I have failed to ask, so if you have in cunstructive input that I may not have mentioned or asked about please let me know. Thanks.
moreResolved Question: Small start-up business loan?
I am thinking of starting a small business. I haven't done all the research yet but I think when I do, I'll find there is a market for my idea. If I do that, where can I borrow some money? I don't really have good credit. I think it's 625. I don't know how good or bad that is. But my work histroy is erratic. It's not really that erratic. I've been employed on and off at one place for five years. Mostly on, but with gaps. Right now I'm not there. Also the place I work, I get tips and I've never declared them, so I can't prove any kind of decent income. I've heard the government makes loans of this type. How do I find out about it and how do I qualify? I only need about $3,000
moreResolved Question: Ok, Obama is now pres. elect. Please tell me what his "share the wealth" means? Is it like Huey Long's of old?
I was looking on the net for info regarding this and only found an interview he did around 9/11, the thing with Joe the plumber, stuff that the opposition said about him and some historical stuff about this guy Huey Long from the depression days. Longs deal was that no -one was going to be allowed to make or have less then a certain amount of money but also, no one was going to be allowed to have more then or earn more than a certain amount of money. If a person made more then a certain amount, it would be taken away and used to bring the people who had less up to the minimum standard. Also he had a thing for old age pensions. Long at least was clear for his time, about who he considered rich and who he considered poor. I'm having trouble nailing this info down with Pres. Obama. Also wouldn't this just create another level of poor like in some European countries ? Folks with minimum housing and food but no hope of ever doing better because there are no jobs. Wouldn't this just mean that what we consider poor would just change? Maybe he's figured a way around this. I'll keep searching the net for it. Also what is he going to put in place to motivate people to make enough to be taxed? I mean I know some business owners who have mortgaged their homes, taken out personal loans, worked 80 hour weeks, lived off of cup of noodles, etc. to get to the point where they can have a couple of employees. In tight months, they made sure that their employees paychecks and payroll taxes were paid before paying themselves, if they could pay themselves at all. Now they've reached the point where they are finally able to write themselves a serious paycheck and have to worry about it being taken away to "share the wealth". I have another friend who really wants to hire another guy, but has always waited to add employees until he could pay them above California Minimum wage and toss in some basic health benefits. Not much but some. More then what is required by law for a company his size. Now he is going to wait and see what happens with taxation first. So somewhere out there is someone not making 3 dollars over minimum rage with benefits as untrained labor. What do I tell my friend? What do I tell my boss who also has a small business and pays relatively well? I was hoping to find something on the net. I know Pres. Obama has two books out, but if they addressed this, wouldn't people be talking about it on the net?
I guess that I just need to be reassured that if I continue to work hard, invest in myself, etc. That I too can get hold of the American dream. My dream wasn't for the government to pay all my bills so that I could live as well as my neighbors. My dream was to have the opportunity to do well enough do pay my own bills, be able to save for my own retirement and help out others along the way when I can.
I was raised believing that if I worked hard, was willing to be flexible, was willing to move to where the work was, was willing to take risks and was willing to be continually educated, that I would have the American dream of relative prosperity. That no one could hold me down because of my ethnicity, my sex, who my parents were or what part of town they were from like in some countries. I need to know that this will stay the same. That while our society is looking after the people who can't, we won't railroad the people that can (and those who are at least willing to try) to benefit the people that won't.
When I typed rage, I meant wage. I keep forgetting that spell check can't check for proper word usage, only its spelling.
Interesting answers.
When I watched and listened to Pres. Obama's speech after the election. I didn't just watch him, I watched the crowd watching him. They seemed enthralled. Like they not only were part of the solution but knew the game plan and were just waiting for the right person to come along to put it in action. I thought that I could just check the net and get the same answers for my questions that they obviously received. I couldn't find much except what I listed. I then decided to ask on the net only one of the questions I had and give my honest concerns based on the only information that I was able to get off of the net.
I was raised to believe that once the vote was over, who ever won was now the leader.
We are in a very deep hole that we as a nation and as individuals dug ourselves. We ok'd nafta when we couldn't get it blocked in congress. We also ok'd it whenever we were willing to buy imported goods instead of locally made. We ok'd it when we invested in companies that moved their production out of the US. They could sell the same product for the same price or less and still show a higher profit margin to their investors. We did it when we bought houses with reading the documents to see what our payments would be. We did it when we let ourselves become dependent on foreign oil. We did it when we bought cars bigger then we really needed and more toys then we could ever really play with to make them worth the expense.
We did it when we stopped saving and started putting everything on credit with no plan on how we were going to pay it back in full. We did it when instead of having a medium recession four years ago ( about the time everyone ran out of cash) , we financed our lives with credit. We did it when instead of forcing local factories to to become environmentally friendly, we chased them out of town and now from other countries with fewer regulations, they are now dumping waste in the same ocean. We did it when we as a nation and as individuals have no long term plan. We think so temporary. We want instant gratification. People who make money off of lending money feed on that. An example is layaway. Use to be that most stores had some form of it. Where for free or a a fee, they would hold your selected goods until you had paid in full. Now most stores have store credit cards instead. We kept buying. Mortgages were only supposed to be 30-40% of your monthly income. When housing went passed
that, some of us stopped buying but enough kept buying even though they couldn't afford it. This meant instead of the normal ebb and flow of the housing market that we get when supply out passes demand, we got housing prices that were artificial supported ( remember, something is only worth what someone is willing to pay for it at the time its up for sale.) Everyone from the original seller, to the buyer, the bank, the real-estate agent, the city and county all participated in this lier's poker, with the idea that the next player coming to the table would bail them all out and pay them all off by paying whatever they asked. Panic happened when that next player didn't come soon enough to keep the mortgage from defaulting. To keep the game going.
We did this when we assume that people in different countries,( with their own unique histories, hopes, cultures, religions, etc.) share all of our values. Then we thought we could buy their friendship. So now we are broke and we have
and have discovered that these countries had extensive unsettled conflicts dating back to biblical times and just like our European counter parts did centuries ago, we are going to try to carve up the would to make money and bring peace. Didn't work for the English, the French, the Dutch, Portuguese, Spanish, etc. But now its our turn. We should learn from history even if its other countries history. We tried buying them off and we got dictators so now we try beating them up. Both take money that should have been spent making home safer, more stable and a better place to live. That was the look I saw on the faces in the crowd. That all of our problems would be solved if we would just work together under Pres. Obama.
Considering this was a "team failure", its going to take team effort to fix. Considering parts of this huge problem we face are 40 years old and some just a few years old, I don't expect it to be fixed in four years.
Just want to see that plan.
moreResolved Question: Where can I find about government Grants to start a small business?
I am trying to get my home business to the next step, but do not have the capitol to make it happen, for unrelated reasons that prevent me from getting a loan. I need to be able to advertise and pay for vendor fees at various shows, but most importantly, I need to establish a real shop for people to come to and where I can work on my product in a more effective environment for my work.
No. I am NOT looking for internet pyramid schemes, so do not send any links for them. I am asking about Government Grants only.
Thanks Naima, but I am not able to get a loan. Because I am paying child support, I am considered a high credit risk.
moreResolved Question: What career am I best suited for?
I don't want work with nonprofits or as a paralegal anymore. What career am I best suited for with my current education and work experience? And, how do I pursue a career in the industry you recommend?
I'm interested in government/politics, journalism, lobbying, higher education, research, advertising, and music. I'd like a job with growth potential in an large organization with good management infrastructure (no more small companies or operations).
This is my truncated resume:
Director of Programs—Chamber of Commerce
Develop and coordinate programs to support and improve local business. Design and draft marketing materials to publicize Chamber programs using MS Publisher, Constant Contact, and Adobe Contribute. Foster partnerships with schools, government officials, businesses, and community organizations to attain the specified goals related to each program.
Legal Coordinator—The Willett Law Firm, P.A.
Developed an action plan with the NC State Bar to wind-down John G. McCormick’s law practice. Assisted clients with filing grievances with the NC State Bar and finding alternate legal counsel.
Legal Assistant/Paralegal—John G. McCormick, P.A.
Organized and managed the firm’s accounts payable and receivable using QuickBooks and Timeshlips software. Assisted personal representatives with estate planning and settlement. Performed title and lien searches and helped to prepare closing packages for real estate transactions.
High School Social Studies Teacher
Taught Economic, Legal & Political Systems, which is an overview of stock market investing and micro- and macroeconomics concepts, civics, law, and a comparative study of historical and modern political and economic systems in foreign countries.
Y2K Readiness Project Administrator –Quintiles, Inc.
Communicated with project managers to track compliance and contingency planning. Managed and tracked project data using MS Excel.
Legal Assistant–Rucci, Burnham, Carta & Edelberg, L.L.P.,
Helped defense prepare for a criminal trial in Puerto Rico discovery for a client charged with violating Savings and Loans regulations.
Employee Assistance Program Intern–United States Tobacco Co.
Education:
Juris Doctorate, Campbell University Norman A. Wiggins School of Law, Two years completed
Summer Program, Handong International Law School, South Korea
Master of Arts in Teaching, Univ. of North Carolina, Chapel Hill, NC
Bachelor of Science in History, Appalachian State Univ., Boone, NC
NC State Bar Certified Paralegal
Relevant Coursework:
History of the World Since 1945
Germany Since 1917
U.S. Foreign Policy
U.S. Intellectual Tradition
Constitutional Law
Islamic History
Asian History
Latin American History
Latin American Politics
American and National Government
Political Parties and PACs
Law & Ethics of Communications
Theory & Practice of Persuasion
History of American Public Education
Microeconomic Theory
Race, Poverty & Politics
Globalization
Comparative Law & Culture (U.S. v. Asian Traditions)
International Business Transactions
Constitutional Law
Entertainment Law
Education Law
Contracts
Torts
Civil & Criminal Procedure
Criminal Law
moreResolved Question: Given the news of the worst auto sales month since 1942, would a McCain spending freeze destroy the midwest?
The sales numbers are in. In the last month, GM sales are down 45%, Ford sales are down 30%, and Chrysler sales are down 35%. GM says, figuring in population growth, these were the worst sales industry-wide since 1942.
All American auto manufacturers exected a lean year in 2009, but it is hard to imagine they planned funding for this. Ford has enough money on hand to exist until late 2009. GM and Chrysler were looking to merge to survive before this latest bad news came in. All three have fuel efficient small cars scheduled to role out in 2010-2011. All three are hoping for another $25B or maybe more in government loans in 2009 to help them survive until those cars hit the market.
10% of America's workforce works for the automakers. As Obama's plan is based on swelling the workforce to pay for his spending, it is pretty clear an Obama administration would loan them the money to get their cars out.
McCain on the other hand wants to freeze any addtional spending and is counts heavily on the advice of Phil Gramm, a free enterprise zealot.
If McCain wins, could we see the auto industry allowed to collapse based on the free enterpriser idea that "something better will take it's place"? Is that reasonable if the banks and government are going to be very hesitant to loan out seed money to new businesses? Will the uber rich rush to put their money into risky ventures like the midwest unionized states would be at that point or will they invest overseas? With no American manufacturers would our car money join our gas money in heading overseas? Finally, what would happen to the cities of the midwest if the car manufacturers closed? Would theirs kids schools have adequate funding? Would the burden of the tax shortfalls shift to other workers and businesses in those communities driving out more businesses and workers? Could we see the collapse of several mid-western communities?
Rob - Do you honestly think a bailout of the auto industry would be excluded from a McCain spending freeze? Please at least try to be honest.
iamsuranovi - I am calling BS. McCain was very clear in the debate that he was talking about an accross the board freeze in new spending. And anyhow I am sure employees of Lehman Bros would suggest that saving the auto manufacturers might very well be considered a discretionary choice if left to a republican braintrust.
PJ and several others have put up a very legit argument that the manufactures have been making the same ill-conceived crap for years and deserve to fail.
I don't disagree with that and I think that is the logic McCain would use to let them fail. I do think that you have to look at where that leaves the economy. Where are we going to be if 10% of our workforce goes on unemployment? What will happen to the schools of kids in those states?
Fromage a Trois - Obama is talking about pumping government revenue into small businesses via SBA loans to create alternative energy jobs that cannot be outsourced.
moreResolved Question: What is the most legitimate criticism the McCain/Obama Campaign has made against your preferred choice?
I voted for Obama, but was a McCain fan in 2000. I feel that McCain will likely lose as (like Kerry in 2004) he has had the least success in defining the race.
IMO almost every criticism McCain has thrown out against Obama, there is an equally telling one against McCain. "Obama has worked with Terrorist Ayers" --- What about McCain and G. Gordon Liddy who recommended shooting government agents?
"Obama had kind words for Rashid Khalidi, a current professor at Columbia and reportedly former director of a PLO press agency from 1976-1982. The Woods fund, a non-profit organization designed to help the disadvantaged on whose board Obama sat, provided a total of $75,000 over two years to the Arab American Action Network, an organization on which the man's WIFE serves as president. Conversely, Since 1993 McCain has served as Chairman of the International Republican Institute, an organization that has given $448,873 (in 1998) to an organization that Khalidi himself --- not his wife --- founded and served on the board of until 1999, the Center for Palestine Research and Studies.
About the only thing McCain has put out there that holds much water to me is the idea that Obama is probably making a mistake taxing small businesses that make over $250K on the basis that it will cost jobs.
I think there is some legitimacy to that, but only a little. Small businesses will adjust, either by paying their owners larger salaries or whatever. Additionally, I think that it ignores a much larger point --- Obama is FDR --- a pol who believes that when an economy is having a series of bank crashes that are destabilizing the economy, you have to pump government money out there to get people off unemployment and onto the tax rolls by giving them government jobs and having them rebuild the infastructure --- the power grids, the roads, the trains, etc. His investments into small business loans would create a lot more jobs as well. The net result is Obama would add more jobs than he would cost the small business sector, but it is at least something that I do think could possibly legitmately hurt.
moreResolved Question: im running for president!?
what do you think?
Economy
We are a capitalist country. That means the markets are determined by supply, demand and competition. I believe the 700 billion, tax payer dollar bailout was out of government bounds. The governments’ responsibility includes patients, tariffs, quotas, minor wall-street and banking regulations, opening trade agreements with other countries and other small policies. I don’t not believe that the interest rate should be set by, as I’ve heard once, “a few powerful men in a marble palace in solitude.” The market should be set my consumer-business negotiations. It will be rough for a couple of months but when it does get settled out it is a much more sound, stable and predictable market. If a bank charges to high of a rate, the consumer goes elsewhere for a loan. That forces the bank to lower. The same rule applies to prices. If gas is too high, boycott it. In a week gas would be back to $1.50. If gas starts back up, repeat until it settles out. I am not an economist the simplicity of this ideas boggles people’s minds so much hey they can’t understand it. Will there be hard times, yes. Is it better, I think so. (my bad, America is to spoiled to go a week without gas.i do it all the time. *cough* city bus *cough*)
Deficit Reduction
The national debt is tremendous. Ridiculously huge. Easy fix though. Cut government spending. Oh, my god! It’s too simple! Duh! If you own a business and you gross $100. You expenses is $150, and you debt is $700. First, stop barrowing, then cut you expenses to $60 (aka budget cut). Use the $30 to pay off the debt and $10 to improve your business. I can’t tell you all of the different government programs there are. But I’m willing to bet 45% if the federal budget is useless crap. The war will have to end and someone will have to go down the list of government programs with a sharpie. A lot of government jobs will be lost, yes. But by how crappy all the other, more important programs are running, I think they could use an extra hand.
moreResolved Question: A reply to "Joe the Plumber" an echo of my own life, what do you think ?
This is the real reason why you don't want to vote for Obama. He just doesn't understand.
Given the furor about “Joe the plumber” I’ve written an open letter to Mr.
Obama myself. I think it is worth the read. Maybe if Americans could take a closer look at what a small businessman is, they wouldn’t want politicians penalizing their success. Feel free to forward it if you want…
Cory
Mr. Obama,
Given the uproar about the simple question asked you by Joe the plumber, and the persecution that has been heaped on him because he dared to question you, I find myself motivated to say a few things to you myself.
While Joe aspires to start a business someday, I already have started not one, but 4 businesses. But first, let me introduce myself. You can call me "Cory the well driller". I am a 54 year old high school graduate. I didn't go to college like you, I was too ready to go "conquer the world" when I finished high school. 25 years ago at age 29, I started my own water well drilling business at a time when the economy here in East Texas was in a tailspin from the crash of the early 80's oil boom. I didn't get any help from the government, nor did I look for any. I borrowed what I could from my sister, my uncle, and even the pawn shop and managed to scrape together a homemade drill rig and a few tools to do my first job.
My businesses did not start as a result of privilege. They are the result
of my personal drive, personal ambition, self discipline, self reliance,
and a determination to treat my customers fairly. From the very start my business provided one other (than myself) East Texan a full time job. I couldn't afford a backhoe the first few years (something every well drilling business had), so I and my helper had to dig the mud pits that are necessary for each and every job with hand shovels. I had to use my 10 year old, 1/2 ton pickup truck for my water tank truck (normally a job for at least a 2 ton truck).
A year and a half after I started the business, I scraped together a
20% down payment to get a modest bank loan and bought a (28 year) old, worn out, slightly bigger drilling rig to allow me to drill the deeper water wells in my area. I spent the next few years drilling wells with the rig while simultaneously rebuilding it between jobs. Through these years I never knew from one month to the next if I would have any work or be able to pay the bills. I got behind on my income taxes one year, and spent the next two years paying that back (with penalty and interest) while keeping up with ongoing taxes. I got behind on my water well supply bill 2 different years (way behind the second time... $80,000.00), and spent over a year paying it back (each time) while continuing to pay for ongoing supplies C.O.D.. Of course, the personal stress endured through these experiences and years is hard to measure. I do have a stent in my heart now to memorialize it all.
I spent the next 10 years developing the reputation for being the most
competent and most honest water well driller in East Texas . 2 years along
the way, I hired another full time employee for the drilling business so
that we could provide full time water well pump service as well as the well drilling. Also, 3 years along the path, I bought a water well screen service machine from a friend, starting business # 2. 5 years later I made a business loan for $100,000.00 to build a new, higher production, computer controlled screen service machine. I had designed the machine myself, and it didn't work out for 3 years so I had to make the loan payments without the benefit of any added income from the new machine. No government program was there to help me with the payments, or to help me sleep at night as I lay awake wondering how I would solve my machine problems or pay
my bills. Finally, after 3 years, I got the screen machine working
properly, and that provided another full time job for an East Texan in the
screen service business.
2 years after that, I made another business loan, this time for
$250,000.00, to buy anot her used drilling rig and all the support equipment needed to run another, larger, drill rig. This provided another 2 full time jobs for East Texans. Again, I spent a couple of years not knowing if I had made a smart move, or a move that would bankrupt me. For the third time in 13 years, I had placed everything I owned on the line, risking everything, in order to build a business.
A couple of years into this, I came up with a bright idea for a new
kind of mud pump, a fundamentally necessary pump used on water well drill rigs. I spent my entire life savings to date (just $30,000.00), building a prototype of the pump and took it to the national water well convention to show it off. Customers immedi
moreResolved Question: Did Obama wow you last night? ?
Well hopefully your eyes were opened to his deceitfulness:
WASHINGTON – Democratic presidential candidate Barack Obama was less than upfront in his half-hour commercial Wednesday night about the costs of his programs and the crushing budget pressures he would face in office.
Obama's assertion that "I've offered spending cuts above and beyond" the expense of his promises is accepted only by his partisans. His vow to save money by "eliminating programs that don't work" masks his failure throughout the campaign to specify what those programs are — beyond the withdrawal of troops from Iraq.
A sampling of what voters heard in the ad, and what he didn't tell them:
THE SPIN: "That's why my health care plan includes improving information technology, requires coverage for preventive care and pre-existing conditions and lowers health care costs for the typical family by $2,500 a year."
THE FACTS: His plan does not lower premiums by $2,500, or any set amount. Obama hopes that by spending $50 billion over five years on electronic medical records and by improving access to proven disease management programs, among other steps, consumers will end up saving money. He uses an optimistic analysis to suggest cost reductions in national health care spending could amount to the equivalent of $2,500 for a family of four. Many economists are skeptical those savings can be achieved, but even if they are, it's not a certainty that every dollar would be passed on to consumers in the form of lower premiums.
___
THE SPIN: "I also believe every American has a right to affordable health care."
THE FACTS: That belief should not be confused with a guarantee of health coverage for all. He makes no such promise. Obama hinted as much in the ad when he said about the problem of the uninsured: "I want to start doing something about it." He would mandate coverage for children but not adults. His program is aimed at making insurance more affordable by offering the choice of government-subsidized coverage similar to that in a plan for federal employees and other steps, including requiring larger employers to share costs of insuring workers.
___
THE SPIN: "I've offered spending cuts above and beyond their cost."
THE FACTS: Independent analysts say both Obama and Republican John McCain would deepen the deficit. The nonpartisan Committee for a Responsible Federal Budget estimates Obama's policy proposals would add a net $428 billion to the deficit over four years — and that analysis accepts the savings he claims from spending cuts. The nonpartisan Tax Policy Center, whose other findings have been quoted approvingly by the Obama campaign, says: "Both John McCain and Barack Obama have proposed tax plans that would substantially increase the national debt over the next 10 years." The analysis goes on to say: "Neither candidate's plan would significantly increase economic growth unless offset by spending cuts or tax increases that the campaigns have not specified."
___
THE SPIN: "Here's what I'll do. Cut taxes for every working family making less than $200,000 a year. Give businesses a tax credit for every new employee that they hire right here in the U.S. over the next two years and eliminate tax breaks for companies that ship jobs overseas. Help homeowners who are making a good faith effort to pay their mortgages, by freezing foreclosures for 90 days. And just like after 9-11, we'll provide low-cost loans to help small businesses pay their workers and keep their doors open. "
THE FACTS: His proposals — the tax cuts, the low-cost loans, the $15 billion a year he promises for alternative energy, and more — cost money, and the country could be facing a record $1 trillion deficit next year. Indeed, Obama recently acknowledged — although not in his commercial — that: "The next president will have to scale back his agenda and some of his proposals."
moreResolved Question: Did anyone see Barack Obama's 30 minute presentation on television Wednesday night? ?
I don't have cable so I was not able to see it, but the Associated Press article had the following to say about it.
WASHINGTON – Democratic presidential candidate Barack Obama was less than upfront in his half-hour commercial Wednesday night about the costs of his programs and the crushing budget pressures he would face in office.
Obama's assertion that "I've offered spending cuts above and beyond" the expense of his promises is accepted only by his partisans. His vow to save money by "eliminating programs that don't work" masks his failure throughout the campaign to specify what those programs are — beyond the withdrawal of troops from Iraq.
A sampling of what voters heard in the ad, and what he didn't tell them:
THE SPIN: "That's why my health care plan includes improving information technology, requires coverage for preventive care and pre-existing conditions and lowers health care costs for the typical family by $2,500 a year."
THE FACTS: His plan does not lower premiums by $2,500, or any set amount. Obama hopes that by spending $50 billion over five years on electronic medical records and by improving access to proven disease management programs, among other steps, consumers will end up saving money. He uses an optimistic analysis to suggest cost reductions in national health care spending could amount to the equivalent of $2,500 for a family of four. Many economists are skeptical those savings can be achieved, but even if they are, it's not a certainty that every dollar would be passed on to consumers in the form of lower premiums.
___
THE SPIN: "I also believe every American has a right to affordable health care."
THE FACTS: That belief should not be confused with a guarantee of health coverage for all. He makes no such promise. Obama hinted as much in the ad when he said about the problem of the uninsured: "I want to start doing something about it." He would mandate coverage for children but not adults. His program is aimed at making insurance more affordable by offering the choice of government-subsidized coverage similar to that in a plan for federal employees and other steps, including requiring larger employers to share costs of insuring workers.
___
THE SPIN: "I've offered spending cuts above and beyond their cost."
THE FACTS: Independent analysts say both Obama and Republican John McCain would deepen the deficit. The nonpartisan Committee for a Responsible Federal Budget estimates Obama's policy proposals would add a net $428 billion to the deficit over four years — and that analysis accepts the savings he claims from spending cuts. The nonpartisan Tax Policy Center, whose other findings have been quoted approvingly by the Obama campaign, says: "Both John McCain and Barack Obama have proposed tax plans that would substantially increase the national debt over the next 10 years." The analysis goes on to say: "Neither candidate's plan would significantly increase economic growth unless offset by spending cuts or tax increases that the campaigns have not specified."
___
THE SPIN: "Here's what I'll do. Cut taxes for every working family making less than $200,000 a year. Give businesses a tax credit for every new employee that they hire right here in the U.S. over the next two years and eliminate tax breaks for companies that ship jobs overseas. Help homeowners who are making a good faith effort to pay their mortgages, by freezing foreclosures for 90 days. And just like after 9-11, we'll provide low-cost loans to help small businesses pay their workers and keep their doors open. "
THE FACTS: His proposals — the tax cuts, the low-cost loans, the $15 billion a year he promises for alternative energy, and more — cost money, and the country could be facing a record $1 trillion deficit next year. Indeed, Obama recently acknowledged — although not in his commercial — that: "The next president will have to scale back his agenda and some of his proposals."
Laura - Obama's speech became meaningless when he entered Wright's church and stayed there for 20 years listening to "Black Liberation theology" which is a twisted perversion of the Christian gospel and is heavily racist to the point of wanting to see white people exterminated.
Obama was born to a Muslim father, he had a Muslim grandfather, he was raised
by a Muslim step father, taught as a boy in a Muslim school, tutored by a man who was a sexual pervert and socialist during his early boyhood, attended the church Wright pastored which had many Muslim members, has been praised by Quaddafi and Hamas - Muslim terrorists,
and in an absent-minded moment on tv slipped and said "My Muslim faith."
His friends are terrorists and leaders who hate our nation and want her destroyed from without and within. He has not proven his citizenship, and his biggest campaign issue centered around race. He has promised that his future plans are heavily racial in purpose.
Christian? Never!
Obama voted 4 times against letting a baby receive medical attention if that baby survived an abortion. Fannie and Freddie paid him more than everyone but Chris Dodd and 39 times more than McCain. I believe McCain received a token payment to cover their tracks, and the big three; Dodd, Obama and Kerry were paid to keep their mouths shut or to continue their refusal to vote with Bush
regulate them. Obama has NEVER at any time declared he loves America, but has called our troops terrorists and has downgraded our Constitution. He has lied so many times about so many things
that it is hard to believe he means any of the things he says. He has vacillated on numerous issues, and has never instituted any legislation in his one year that he actually showed up for work in Illinois. He has can speak eloquently about nothing and people look beyond his lack of knowledge and experience like they are in a hypnotic trance. He is a fraud, and unworthy of the respect of any thinking person.
moreResolved Question: Should I hire a lawyer to prepare my parents' application for US tourist visa?
Hi,
This happened in Thailand. My parents have recently been denied a US tourist visa after their first attempt. I am a green card holder. I got married to an American this year and we plan to have a wedding reception early next year. So we invited my parents to attend. They do not speak much English. We already bought them roundtrip tickets and included the confirmation letter in their visa application. We also wrote a letter stating that we will cover all the expenses while they are in the US. My dad is a government official and my mom owns a small business. My dad even had a letter from his boss stating the same date shown on the plane tickets. Additionally, they have recently bought a house and also included this evidence in their application.
On the interview day, they asked to be interviewed by a Thai speaking person but instead got an American officer who doesn't speak Thai very well. He asked several questions, but it was not clear most of the time. I admit that my parents were not aware that they had to "sell themselves" and figured that the officer would request specific proof before making a decision. Shortly into the interview, the officer abruptly ended the conversation without looking at any of the supplemental evidence (tickets, loan information, letter from my dad's boss and his bank accounts, etc.) They were handed a piece of paper explaining that my parents did not demonstrate sufficient evidence that they would return to Thailand after the trip is over.
How can we best increase my parents' chance of getting the tourist visa? Is it worth hiring a lawyer at this point? Is it good to state that we will support them financially on the trip or should they demonstrate that they can afford the trip? Is showing that they have round trip tickets already purchased good evidence?
moreVoting Question: why is the worlds economy based on the election of the president of the United States?
I continue to see that the stock market is dropping drastically day by day. I am fortunately not effected by the stock market falling because i lost my entire 401 four years ago in the market. I am a small business owner in SC and the drastic down slide of the economy is about to put our company completely out of business. My credit is ruined due to the decline in clientele that once filled our store and purchased items that were for sale. I don't understand the government trying to bale out the big business while the small business man is left to swim with the sharks. It really makes me mad beyond compare to see companies that still have millions in their accounts be lifted out of their problems and we can't even get a bank to loan us enough money to survive on.All those ads you hear about the government having a surplus of money just waiting to help out small business is completely ridiculous. I have called several of them, only to be told that we don't meet the requirements or the guidelines prohibit them from issuing any money to a new business. My company has weathered the constant attacks from the local competition endured a wrongful lawsuit against my partner that almost destroyed the company two years ago and still isn't over yet, and of course the everyday battle we fight just trying to stay afloat. I am almost at a point of closing up and chalking it up to experience and as I stated earlier, loose my entire 401 one more time. I keep telling myself, this is temporary and that times will get better. Am I living a tunnel dream? I will be at the poles at 6:30am on November 4th and will cast my vote.
moreResolved Question: If Small Business Owners Hate Socialism So Much, Why Do So Many Have Small Business Administration Loans?
which come from the federal government?
The government uses tax payer money to fund the SBA which loans money to start businesses.
How is this not Socialism?
And republican, free market types, please don't just try to tap dance your way out of this question.
moreResolved Question: My other senator who voted for the bailout. Here's his response to my opposing it. What do you think?
Dear [Constituent]:
Thank you for contacting me about the current financial crisis. I appreciate having the benefit of your comments on this matter.
I, like many Texans, am angry and frustrated that the United States is in the current financial crisis. As a strong supporter of the free market, I am opposed to unnecessary government intervention in the economy. As you know, the federal government has recently taken several steps to ensure that our financial system remains stable for the growth of our economy. Any actions by the federal government must be temporary and limited. Furthermore, any taxpayer money that is used to support our troubled economy must be subject to strict oversight and be repaid—in full—to the American people. Hard-working, financially responsible Texans should not have to pay for the irresponsible behavior of corporate executives who abused their positions. These executives must now be held fully accountable under the law.
The current financial crisis was caused, to a large extent, by Fannie Mae and Freddie Mac—two government sponsored enterprises that played a central role in the much maligned mortgage market by guaranteeing loans to individuals who could not pay them back. Together, these two agencies own or guarantee nearly half of the nation’s $12 trillion mortgage market. I have long advocated that Congress reform both Fannie Mae and Freddie Mac in an effort to protect taxpayers. In 2006, I urged the Senate Majority Leader to bring reform legislation before the full Senate after reports that Fannie Mae intentionally overstated its earnings by $10.6 billion. This reform legislation would have increased oversight and taken steps to protect taxpayers from the risk that Fannie Mae and Freddie Mac posed to our economy. Regrettably, the Senate did not consider these reforms because special interest groups lobbied their Congressional allies to prevent this legislation from being debated.
Furthermore, risky business practices by irresponsible financial institutions have caused great stress on our credit market, limiting the amount of credit available to both individuals and businesses. America’s system of credit is the lifeblood of our economy as it affects thousands of purchases and investments made in our country each day. Without access to credit, small businesses cannot pay their employees and working families cannot receive the loans necessary to send their children to college or purchase a new home or car. It is critical for our economy that the financial crisis be prevented from spreading to families and businesses across Texas which would result in many Texans losing their jobs, diminished college funds for their children, and a loss of hard-earned retirement savings.
Finally, it is imperative that all parties associated with the current financial crisis are aggressively investigated and that any corporate executives found to be involved in criminal activities are swiftly prosecuted. I intend to ensure that a thorough criminal investigation is conducted and that those responsible for violating any criminal laws of the United States are held accountable. As such, I have called on the Attorney General to begin a criminal investigation of executives at Fannie Mae and Freddie Mac. It is because of their poor—and possibly criminal—business practices that American taxpayers and our nation’s economy are in jeopardy. Soon after the Attorney General received my request, the Federal Bureau of Investigation announced an investigation of Fannie Mae, Freddie Mac and multiple Wall Street financial firms.
I appreciate the opportunity to represent Texans in the United States Senate and you may be certain that I will keep your views in mind as the 110th Congress draws to a close. Thank you for taking the time to contact me.
Sincerely,
JOHN CORNYN
United States Senator
517 Hart Senate Office Building
Washington, DC 20510
Tel: (202) 224-2934
Fax: (202) 228-2856
http://www.cornyn.senate.gov
============
Guys!!!! Folks!!!! We are naming NAMES, FINALLY!!!
Keep it up. Name every law-maker on our ballot who's dereliction is to blame for this anti-Citizen assiduousness.
...
moreResolved Question: Obama tax plan - I'm a small business owner that makes $250,000+?
I am one of the lucky ones that fall into Obama's tax plan to supplement other people families from my income. Here's my situation and tell me why I'm wrong.
I started my business 12 years ago. I lost money the first few years and lived off 401K withdrawal and loans on my house.
When I started making money it was not as much as many who took no risk and worked 9 to 5 for a company. I was still in the hole but paying off the debt and trying to survive.
About 3 years ago I am fortunate enough to make the business work and I break the $300,000 income bracket --- Finally! But debt still needs to be worked off.
I live in one of the most expensive regions in the U.S. NJ so my housing isn't cheap. I am the sole provider of a wife and 5 children. My oldest goes to college and because I "make too much" I get no aid & have to pay the $40,000+ tuition A YEAR out of my pocket (After my income is adjusted with the 40% tax bracket I'm in between State & federal). I also help my Mother each month with several thousand $$ - she is a widow on a fixed income. BTW, my Mom I am happy to help it's the guy's family Obama is making me pay for that makes me a litte resentful.
I'm not rich by any means especially when you include the debt I incurred to make my business successful.
This is my plan - Tell me why I shouldn't do the following for the survival of my company:
1 - Pass on his tax cost to my customers, i.e. the American public - So you will pay.
2 - Cut back on between 1 to 3 employee's due to possible lower sales volume based on price increase and the healthcare cost I will incur for ALL employees.
3. Since Obama has made the decision for me as to the individuals who HE deems worthy to get my money - I will either curb or stop writing checks to charitable organizations.
I'm sorry if people don't make as much as I do but the fact is I was poor longer than I was making ends meet. I understand what it's like to worry about keeping food on the table - But NEVER did I ever want the government to bail me out. Fact is successful people inspired me when I was down and broke.
Please tell me why I should NOT take the steps I outline above as a small business owner. I hope I am wrong especially for the good people I will lay off.
pintisd - Theres only 1 problem with the points you are making - The increase I am referring to is NOT to pay down the U.S debt or for police & infrastructure - It's to subsidize people Obama feels needs MY help - i.e. spreading the wealth around. BTW, you seem to throw around the $50,000 tax that comes out of my pocket likes it's nothing. I bet your not so loose with you money though!
Coco - I suppose because I'm a big bad busines owner I don't pay my employee's well. I wonder why no one has ever left in all the years they've been here if I'm prostituting them around in some sweat shop. The fact is I pay well and my company policy is family first. Whenever someone has a family need - work comes secondary and you go tend to your family - after all that is why we work - That said like other libs you seem to think it fine that I go into MY pocket and give someone else 3% of my income. How bout this - Why do you volunteer YOUR money Saint Coco. Put up or shut up!
moreResolved Question: Anyone been approved for mortgage recently?
As the government has just bailed out the banks (indeed many governments have all over the world!!) and stipulated that they have to start lending to small businesses and mortgage loans, my question is has anyone out there in the UK been recently approved for a mortgage and if so, how much of a deposit did you have to have? Has house sales started moving again? Is now a good time to buy before house prices increase due to approved lending increases?
moreResolved Question: If not Gordon Brown who?
This global financial mess started in America and in the last month the American government has made several catastrophic errors which have made a bad situation worse.
1. Allowing Lehman Brothers to go bust
2. Buying up toxic debts without understanding how much was required.
3. Dithering on the bailout plan
This has lead to banks refusing to lend each other money as their dont know if they will get it back. This has lead to small business and homeowners not being able to get credit thus going out of business or failing to pay their home loans making the problem worse and a long term recession looking likely.
What Gordon has done is buy shares at a very low rate and put certain conditions in place to ensure that money gets back into the economy. When thses shares recover we make a profit and reduce the national debt.
His plan has been followed in Europe and finally by the US - without this more banks would have been nationalised and we would be looking at an unprecidented global depression that would have taken years to come out of.
Politicians and Economist (including Nobel Prize winners) the world over are hailing him as saviour of the finanical world.
Strange that some people on here still dont trust his handling of economy - my question would be who do you trust?
moreResolved Question: How should I answer my Senator's response (below) to my plea that she vote against the bailout? ?
Dear Mr. [soMEone]
Thank you for contacting me regarding the Emergency Economic Stabilization Act of 2008. I welcome your thoughts and comments on this issue.
On September 19, 2008, Treasury Secretary Henry Paulson announced a plan by the Bush Administration to stabilize the financial services sector of the economy. This plan included broad authority for the Treasury Secretary to purchase troubled financial instruments with very limited oversight and few protections for taxpayers.
In July, I voted against a similar proposed bailout of Fannie Mae and Freddie Mac because it did not provide taxpayer protection and limits on executive compensation for a government owned entity. For the same reasons, I was not willing to support the Administration’s initial proposal, and I encouraged my colleagues to continue work on a plan that would protect taxpayers, provide strict oversight, and place limits on the benefits to executives who accept taxpayer assistance.
In the days following the Treasury Secretary’s announcement, concerns about the danger to the broader economy deepened. The high-profile failure of numerous financial institutions caused the commercial lending market to accumulate and hold cash. The credit markets effectively froze, making it difficult for consumers to obtain loans for purchases such as homes and automobiles. The lack of lending in these areas began to place further pressure on the troubled housing market and threatened to spread deeper into the economy. Similarly, many small and mid-sized businesses were finding it difficult to obtain financing to meet their payroll obligations and purchase inventory. Many cities were entering the bond market and getting no bids, even with AAA ratings. The current liquidity crisis still poses a real potential for significant job losses. After consulting with numerous financial experts, small businesses, and bankers in Texas, it became clear to me that normal commercial lending activity would not resume without action by Congress.
Despite this realization, I was still not inclined to support the Paulson plan. After weeks of negotiation, however, a bi-partisan compromise was reached. While there are provisions in the bill that I do not favor and would not have drafted, overall the need for action to stabilize the market and to protect the retirement savings of millions of Americans weighed heavily on my mind. Ultimately, I supported the Senate bill along with 73 of my colleagues. The bill we passed was a major improvement over the initial plan announced by Secretary Paulson.
We increased the deposit insurance cap from $100,000 to $250,000 so that families will have added protection for savings and retirement accounts. While the initial proposal authorized up to $700 billion to purchase distressed assets, the measure we passed takes a more cautious approach, initially authorizing $250 billion and requiring the approval from Congress and the President for additional funding. Importantly, the bill we passed includes restrictions on the benefits received by executives whose companies are selling some of their distressed assets to the government. In return for purchasing the assets, taxpayers will obtain an ownership stake in the companies. Many leading economists believe that the real estate market will turn around in the foreseeable future and government owned properties and assets will be sold at a profit. A provision in this bill that I supported requires any profits realized to be placed in the nation’s treasury to reduce the deficit. If, however, after five years the government is facing a loss in the program, the President must submit a plan to Congress recommending how the money will be recouped from financial services companies. I believe that these protections are a dramatic improvement over the Administration’s initial proposal.
The bill passed by the Senate included an important package of tax policy provisions. One of these provisions is an extension of the state and local sales tax deduction, which is a matter of fairness for states like Texas that do not have a state income tax. The average Texan will save $520 when they file their federal income tax forms next year. We also shielded low and middle-income taxpayers from higher taxes associated with the flawed alternative minimum tax (AMT) and included tax incentives to spur energy production and innovation including the wind energy production tax credit and the research and development tax credit.
As Texans, we have learned to take responsibility for our actions and being asked to pay for the mistakes of others is something many, including myself, find deeply troubling. However, after careful deliberation, I believe that the risks associated with doing nothing outweighed the risk of passing a less than perfect bill that nevertheless includes important protections for taxpayers. Economic evidence clearly suggested the problems were spreading into the broader economy. That i
============
[cont.]
That is why I voted for the Emergency Economic Stabilization Act.
I appreciate hearing from you. Please do not hesitate to contact me on any issue of concern to you.
Sincerely,
Kay Bailey Hutchison
United States Senator
284 Russell Senate Office Building
Washington, DC 20510
202-224-5922 (tel)
202-224-0776 (fax)
http://hutchison.senate.gov
==========
Kat: We have no choice but to drive 10 over. Our cows do eighty in their sleep!
Seriously, you're spot on, as always. Lucky for you your Senators (unlike our Sinners) did it down.
Thanks!
(beware the Texas Cow)
...
moreVoting Question: Are Customers more important than Tax Cuts for the Rich?
i own a small restaurant, and i don't see how lowering taxes for small businesses are going to create jobs, because demand will still stay low.
if the government gives me tax cuts, that doesn't mean i will get more customers, so I Am Not Going To Hire More People, because tax cuts are not going send people through my door.
i am just going to take the tax cut and pay off more of my debt and loans, and maybe when ever that day comes when i'm debt free, then i might update some of my equipment.
but i am Not going to hire more people and expand just because i get more money, i will only hire more people and expand if i get more customers.
so just like Walmart, i only make money when poor people have money. so i don't see how giving rich people money will then get money to the poor people?
for me customers are more important than tax cuts
you can't trick people or attract people to come in the door. if people don't have extra money, they won't spend it on luxury items. people are alot smarter espeically when it comes to their budget.
moreResolved Question: Do Republicans care more about Greed than Country? please read all?
i own a small restaurant, and i don't see how lowering taxes for small businesses are going to create jobs, because demand will still stay low.
if the government gives me tax cuts, that doesn't mean i will get more customers, so I Am Not Going To Hire More People, because tax cuts are not going send people through my door.
i am just going to take the tax cut and pay off more of my debt and loans, and maybe when ever that day comes when i'm debt free, then i might update some of my equipment.
but i am Not going to hire more people and expand just because i get more money, i will only hire more people and expand if i get more customers.
so just like Walmart, i only make money when poor people have money. so i don't see how giving rich people money will then get money to the poor people?
for me customers are more important than tax cuts
moreResolved Question: Does Obama being friends with a terrorist scare any of you? ?
Posted 1:00 AM Eastern
by Jim Kouri
March 22, 2008
© 2008 NewsWithViews.com
There is a far-reaching scandal brewing for presidential hopeful Sen. Barack Obama, thanks to a radio talk show host based in Oregon. Syndicated talk show host Laurie Roth's revelations make the news story about Obama's relationship with a racist, anti-American pastor look like child's play.
A top official at the Pentagon during former-President George H. W. Bush's Administration and a former CIA intelligence officer maintain that Barack Obama and former Weather Underground honcho William Ayers funneled money to Professor Rashid Khalidi, a known terrorist sympathizer.
Khalidi serves on the faculty of Columbia University in New York and is best known as the professor who invited Iranian President Ahmedinejad to visit Columbia University after he finished his speech at the United Nations. According to confidential sources, Khalidi has direct ties to the Palestinian Liberation Organization (PLO), a group on the US State Department's list of known terrorist groups.
"One source for this information was once a top military figure in the 1990s. He doesn't take making allegations lightly. If he says something happened, believe me, it happened," said syndicated radio talk show host Laurie Roth.
"Another source is a former agent for the Central Intelligence Agency, who is an expert in counterterrorism," said Roth, who broke the story on her show Friday night.
"I certainly don't want to demonize someone because they are a woman, black or liberal running for President. I love the idea that in our culture, a black and woman can now run. However, it does matter to me with any candidate, their consistency with good judgment, their voting record, their association with people with questionable backgrounds and commitment to our country," she said during her show. To listen to Laurie Roth's 3-21-08 show click here.
Here are the connections as described by very reliable sources, who possess impressive military, national security and intelligence backgrounds:
Allison Davis, who hired the young Obama into his small, Chicago law firm Davis, Miner, and Barnhill in 1993, left the firm in late 1999-2000 and became a housing developer. Davis went into business with Tony Rezko, the indicted businessman who's scheduled to go on trial for corruption in Illinois, and who was a major fundraiser for Obama.
Davis met Rezko when he was a client of Davis, Miner, and Barnhill. Rezko is currently under indictment in Illinois for demanding kickbacks from companies seeking state government business contracts under Governor Blagojevich. Obama was identified as one of the politicians cited in the indictment as having received political contributions from Rezko out of his kickback funds.
Tony Rezko hosted fundraising events for Obama in his home and was on Obama's US Senate campaign finance committee which collected $14 million for his campaign against conservative Alan Keyes, an African-American who served as an Ambassador during the Reagan Administration. In order to avoid a scandal during his presidential campaign, Obama returned $85,000 that Rezko and his family had donated to him.
In early 2000, while Obama served as a state senator in Illinois, he also sat on the board of the nonprofit Woods Fund. The Woods Fund is a Chicago-based foundation that claims its primary mission is to make financial grants in order to increase and/or create opportunities for disadvantaged people and low-income communities.
The chairman of the Woods fund board in 2000 was Howard Stanback, who like Obama also had connections to Davis, according to the reliable sources.
Davis submitted a grant request to the Woods Foundation for a $1 million investment in his development partnership, Neighborhood Rejuvenation LP, that would be used to finance low-income senior-citizen housing. Under normal circumstances, a board member is supposed to recuse himself or herself from decisions where they have a business or personal relationship.
Obama, who did not recuse himself, voted to approve Davis' grant request. Stanback, on the other hand, abstained from voting. The housing project, which also received a $5.7 million loan from the city of Chicago, in turn donated almost $70,000 in political contributions to Obama's presidential campaign.
In the past, Rezko gave Obama -- who served as an Illinois State Senator -- his first two political contributions in 1995, $1,000 each from two of his companies. In 1998, State Senator Obama wrote letters to city and state officials urging them to fund a Davis-Rezko housing project. It was an obvious quid pro quo arrangement.
Another major fundraiser for Obama is William Ayers, who also sat on the board of the Woods Fund with Obama and is a professor at the University of Chicago.
Bill Ayers, along with his wife Bernadine Dohrn, was an active member of the Weather Underground, a radical left-wing group that advocated vio
Ayers and Dohrn are known to have held at least one fundraiser for Barack Obama in their Chicago home.
During Obama's last year on the board of The Woods Fund (2002), he participated in awarding grants, including a $70,000 grant to the Arab American Action Network, a Chicago-based group founded by Rashid and Mona Khalidi.
In another suspected quid pro quo arrangement similar to those with Ayers and Rezko, Rashid Khalidi also held a fundraising event in his home for Barack Obama.
In the Middle East, Rashid Khalidi was known as a man to be reckoned with. From 1972 through 1983, Khalidi was the director in Beirut of the official Palestinian press agency, FAFA. His wife worked there as well.
According to sources, when the Khalidi's left Chicago for Columbia University in New York, Rashid was honored with the Edward Said Chair in Arab Studies at that Ivy League university. Their goodbye party in Chicago included testimonials from Bill Ayers and Barack Obama.
In a related story, during an interview on Thursday morning (March 20) with Black Panther leader Malik Zulu Shabazz, Fox News Channel viewers learned that Shabazz' group endorsed and supported Senator Barack Obama for President of the United States. Even on Fox -- an organization wrongly accused of being "conservative" -- the interviewers were careful in their questioning of Shabazz, a recognized racist and anti-American radical.
The New Black Panther Party leader proudly announced on Fox News that his organization endorsed Obama for President.
"While some people may say that Barack Obama has no control over who endorses him, he should have control over what endorsements are posted on his websites," said Laurie Roth, who, besides hosting a popular talk show, is a regular columnist for NewsWithViews.com
"The endorsement of the New Black Panther Party was posted on Barack Obama's website. Why was this tolerated unless Barack Obama wanted their endorsement? If he does not want their endorsement, how much control over his staff is he going to have once he's elected President?" asks Mike Baker.
The New Black Panther Party is openly anti-White, anti-Jewish, and anti-America. After Obama's Tuesday damage-control speech, his campaign pulled the Black Panthers' endorsement story off their website.
It's also been reported that Obama's campaign staff was allowed to fly a Che Guevara flag inside his office, according to NewsMax.
"Do these revelations demonstrate a pattern of Barack Obama's judgment? If so, then I do not want him dealing with world leaders. I do not want these groups having access to the White House. Do you?" asks the New Jersey-based political strategist.
"It appears the Barack Obama water carriers within the mainstream news media are on the job as usual -- ignoring another story that has the alternative media on the Internet buzzing: Obama's embracement of an endorsement by the radical, racist organization," Baker added.
moreResolved Question: Do you think these bailouts are going to help? Even the presidential candidates bailouts?
I believe that these bailouts are just going to post pone our crisis a few months or a few years at best! If people can't afford to pay their bills and mortgages what is going to suddenly allow them to pay their bills because the government owns the loans? Nothing, the problem isn't that people overstepped their ability to pay, it's that gas prices went crazy and has effected everything, cost of living, driving, everything. I believe we have to fix the gas problem, and our energy problem at the same time. Without fixing the energy crisis all the bail outs are going to fail, and send us into a huge depression.
I own several small businesses, and as soon as gas prices hit $3.00+ a gallon sales dropped, and everything started going downhill.
Is it just me or what? Neither one of these candidates really talked about fixing the energy crisis in the short term. They have talked about long term solutions (10 year plans). We need a immediate tax break or something NOW!
Whats your opinion?
moreResolved Question: How would you fix the economy? Please include specifics.?
The government now has 7Billion to "fix" the economy. I guarantee you they will not spend it as wisely as we tax payers would like. So how would you spend it? Would you use it to bail out banks, businesses, small business, people? What would you do?
If you want to include dollar amounts, fine, but you don't have to.
Personally, I'm not sure what I'd do. For sure I would give some to those who are being wise with their money but are having to pay the price at the pump, in the grocery store, with increased interest on loans not related to the housing market. But I'd also buy some of the mortgage loans too - just not the bottom of the barrel ones. I'd help out small businesses by fixing the commercial paper business. But mostly I think I'd overhaul the rules and regs that let this happen in the first place (which probably has little to do with the 7B I'd be given.)
I like all three answers so far. I think the economy would have recovered in time on it's own. But now that we have the money, I think it's time for a fresh start. Let's put together a plan that works and makes sense then hit the reboot button. The new plan can be built on many of the same principles as the current one, but you have to admit there are some crazy financial laws out there. Golden parachutes for one (although technically not a law).
Smokey, I like yours too. ...except for the invasion of smaller countries thing. I think the time for expansion through conquest is over. However, I'd be for smaller nations (Hatti for example) becoming a US Territory (without voting rights until things settle down over there), especially once they see how our new plan is working.
I really like the idea of increasing foreign taxes.
While I agree that there shouldn't have been a bailout in the first place, there was and now we the American taxpayer are going to have to pay for this $7billion dollar monstrosity. I just think that since the government is not going to say - oops, we shouldn't have done that, here Mr/Ms Taxpayer, take the money back, that we should be able to say where the money goes.
I'm in perfect agreement that if left alone things would work out on their own given a little time (one to two years), but that's not how things worked out. So now what do we do? How do we spend the money?
moreResolved Question: Where can I go in GA to get a small business loan not exceeding 250k . Preferably a government loan or grant?
I have horrible credit I am a white male and everywhere I read I do not fit the qualifications . However, I know there has to be some agency that will give me a loan or grant especially in the recession. Kinda why I'm looking toward the government and not the banks ( but main reason is I have bad credit).Someone please help.
moreVoting Question: Can someone sum this up for me please? : a statement on the federal reserve?
BARR: If I could wave a magic wand and the Federal Reserve Bank would disappear tomorrow, I would do so. It’s a group of unelected governors that are not answerable to or accountable to the people of this country and yet they wield considerable influence over the economy by basically setting rates at which banks and other financial institutions can loan money. And they have built up, you know, huge reserves themselves that they can then dole out as they’re doing — as they did recently with Bear Stearns to prop up as failing, what they see as failing investment houses, for example. What we’re on the verge of right now, Glenn, through this federal government monkeying around with the mortgage business, both directly and indirectly, is to have the federal government now set a “One size fits all” mortgage criteria for the country. That would be disastrous. It would stifle risk-taking, it would stifle the independence of small mortgage houses and mortgage banks and would simply create furt
further problems down the road. What we need to be doing is tackling government spending. That is the root of all evil, so to speak. We need to get a handle on federal spending, we need to start reducing the economic footprint and, you know, all the other footprints of the federal government if we want to talk about them, and get the federal government out of running our economy. It was never intended to be the job of the federal government to run the economy.”
moreVoting Question: What's Really Going On With the "Bailout"?
I'm reposting this to give out some facts about the "Bailout" (incorrectly named - It should be Rescue plan because it is SO misleading)
The Bailout is in no way shape or form a negative thing. There are two very important distinguishing comments I have to make about this subject. THIS IS NOT A BAILOUT, the reason why this wasn't passed the first time it was brought in Congress was because it was sold to the public in a terrible way. The $700 Billion dollars are NOT going to be put to use to save more major companies and banks. Secondly, THIS IS NOT SPENDING. The money that the government has put forward to this idea IS AN INVESTMENT.
The Idea behind the plan is to free up the credit market by buying the bad mortgages from all these banks and major corporations (as well as the individual investors) to alleviate the fear of lending among the banks. What's going on now is that no one can lend money because there is an unstable fear among the banks that believe that no one is capable, nowadays, to pay back their loans. The idea behind the INVESTMENT (Not Spending) is to free up this market so that people may loan again and expand their small businesses and to purchase a house perhaps.
Now for the investment part of this question. This is Not Government Spending. This is taking the tax money of the people (approx. $2,000 per person in the USA) and putting it towards buying assets (The Bad Mortgages) to free up the markets. These assets ARE WORTH SOMETHING, they're not pieces of paper that will be worth nothing when the government purchases them. The idea is to get the money now to buy these assets, free up the markets, and when they are worth enough to sell back into the market the government will begin to sell them (They may even make a profit like the RTC did in the '80s). The money that the government makes is hopefully and purposefully going to be given back to the taxpayers in the form of tax relief.
The whole matter is who needs the money, how much, and when. Wall Street is not getting a free pass from this, they will pay. The idea is to prevent the taxpayers from paying for their mistakes, and frankly the only way to do that now is to work with the Financial sector of the economy (specifically mortgages and the credit market) to allow the commonpeople to make loans.
Without this government intervention I guarantee a nice old Depression, we all know how successful that was... And another thought. How did we get out of that Depression? Oh yeah, World War II, I hope that's not the only way to get out of Depression, another World War *sigh*.
"The Banks will be tighter than ever with their money, and will not be any more likely to extend loans to the ordinary consumer than they are today. You said it yourself- "there is an unstable fear among the banks that believe that no one is capable, nowadays, to pay back their loans". Does this plan change that? No."
There has to be a compromise between the excessive loaning of yesterday (i.e NINJA loans) and the restricted loaning today (i.e frozen market). You can't expect everyone to get a loan and I do believe that there will be more restrictions on getting