News 2 Me

http://www.msnbc.msn.com/id/29733519?GT1=43001

I like Senator Charles Grassley’s toughness in his rhetoric. AIG took billions from the government to save itself, and a portion of it actually went to bonuses for executives? Was it either have that portion go to the executives directly or put in in the fund for more private jets? This is the same audacity that I could not believe a few months ago with the automobile industry. Senator Grassley is outraged, saying, “But I would suggest the first thing that would make me feel a little bit better toward them if they’d follow the Japanese example and come before the American people and take that deep bow and say, I’m sorry, and then either do one of two things: resign or go commit suicide.” Of course it is rhetoric, and I do not believe the man has to apologize for his statement. I would hope people could recognize rhetoric and threats as different.

I still agree that this nonsense has to stop. Apologizing when you get caught just does not cut it. Other banks and companies will still try some corrupt schemes to get a little extra from the government just to profit certain individuals directly, not the company as a whole to keep it alive. When they do get caught, a simple apology is it? The government will force them to give back some of the money? I just do not think it is enough. Force these corrupt individuals to resign. I know this may cripple some companies, but it will be better to get people above corruption into these spots or stress to those already in these spots that they must not fool around with money given to them at this time. Now is not the time for companies in trouble to profit anyway they can, but to work with the government and public to stay alive.

http://www.msnbc.msn.com/id/29179041

Less than a month on the job, President Obama finally has the stimulus bill he believes will help the nation. It did not come without many compromises and dealings across party lines, and even then most Republicans fought against it. The vote in the Senate was 60-38. Three Republicans supported the bill. Even then, it took the vote of late-arriving Senator Sherrod Brown, whose mother had passed away recently, to get that final vote. In the House, the vote was 246-183. All the Republicans opposed it, and were joined by seven Democrats. Nevertheless, Obama has his way.

Time will tell if this bill works. I agree with many of the Republicans, so much spending makes me uneasy. Money does not appear out of thin air, and even if you print more, there are consequences. Besides that, too much spending without enough incoming revenue may leave the nation struggling if a huge catastrophe occurs. Terrorists do not stay quiet for long. And lastly, should the bill fail to really make jobs and stabilize the economy, the problem may have just gotten worse for the federal budget. Of course, we who pay taxes will really feel it then. Still, best of luck to President Obama.

No vote has been made yet, so do not bring out the party hats too soon. According to reports, however, the hard work and negotiations of certain Democrats has succeeded in winning over enough Republicans to pass the bill. A lot of compromises and cuts had to be made to get there. The $827 billion bill should still go a long way in an attempt to aid the economy. The bad news of unemployment rates rising and banks closing must have added an extra kick to some people to work harder, and others to have let their heart soften. The national unemployment rate is at 7.6 percent, and the number of banks that have failed this year is at nine. We are not exactly in mid-May, last time I checked a calendar. These are some pretty scary figures that could push anyone to action.

This has to be seen as a great victory for President Obama, if I am not speaking too prematurely. There are many hard Republicans out there, and they were ready with a brick wall. Negotiations between parties was key and it looks to be successful. This may be another sign of the nation continuing to come together when it is really needed.

http://www.msnbc.msn.com/id/28931648/

It was obvious that certain things could spell the demise of President Obama’s recovery plan, and that is beyond Republicans. I was thinking about somewhat unpredictable elements, such as more terrorist attacks, infrastructure failures, or how about just nature? Several states still need help after terrible storms hit last week. Kentucky needs aid faster, as costs go beyond $45 million. The National Guard is working continuously to help these people. Many cities and counties have declared a state of emergency already. The federal government has helped, but can they manage to do more?

I know that the economic financial crisis is not directly connected to the financial issues involved here, but if you look at everything in the larger picture, this issue can have huge effects in other areas. President Obama must devote time and thought to these states, as well as many of his aids. Money must be used to get all these things done to help the powerless. This is a test of keeping priorities straight and knowing your resources. Many will say that this is no big deal, and that the country can afford to help the few states that need help and get the the economic recovery package out there. And will these people say that for every disaster that comes along? It all adds up.

Michael Steele is the new leader. He is the first African-American to hold that post. I am surprised by this. First Barack Obama makes history, and now this? This is indeed a sign of possible great change. I am listening to his speech right not, and it is not that bad. He speaks softly, but has some charisma to him. I am not an official Republican or Democrat, so I am not speaking under blind affiliation towards a party. I think this is a good way for the Republican party to modernize. They definitely need to regain some of the footing they have lost, if they ever hope to make a real comeback.

How successful will he be? I said this was a good step, but the Democrats did not exactly trip themselves up recently in a huge manner. President Obama has been impressing me with some of his early actions. The Republicans need to back this symbolic change with some concrete ones as well.

http://www.msnbc.msn.com/id/28897426/

Two months ago, I talked about the Postal Service feeling the sting of the economy, causing less people to send mail, and therefor less revenue. The result was less overtime and a few other cutbacks, but no job losses. The story now develops further.

One less day of getting mail may not sound like a big deal, and I do not want to imply any huge societal problems this will cause, but it is really a symbolic blow in my book. They are predicting greater losses in revenue this year than they had last year. Cutting one day will help alleviate some of the financial stress. Less people are sending mail anyway, as I said before, so I cannot really condemn the Postal Service for asking for this day off. And they do have to ask. A legislation in 1983 created the rule of six days of mail. It may not happen. If it does, it will not happen in a day. The rate increase coming up in May will not help that much. The increase last year sure did not. Support your neighborhood postal worker.

http://www.msnbc.msn.com/id/28863873/

2008 was no friend to the economy, and things look even worse for 2009. People are spending way less, more job cuts came recently from several large businesses, and the nightmares go on. What really caught my eye is the consumer confidence level. It is expected to be 39 for this month. To put that into perspective, consumer confidence was as 87.3 exactly one year ago. A huge drop, to state the obvious. With things getting worse, the figures will not be improving for a while.

There is hope from these same analysts, however. Predicting huge declines for a while, things will supposedly pick up again in the fourth quarter. The key, however, is the stimulus package from the government. So many things can go wrong there. I still do not believe it will work out perfectly in reality. Few things ever do. Nevertheless, good news will serve to help the tense atmosphere in a long way. I do not have any good news myself, but I am just saying it is true.

http://www.msnbc.msn.com/id/28808023/

I am sure most Americans are tired of this guy, but he still has some life left. His top attorney is throwing his hands in the air and giving up on him, saying, “I have practiced law for 44 years. I never require a client to do what I say, but I do require clients to listen to what I say.” Blagojevich is playing his own game, and do not deny for a second that this is a game for him. He is trying to portray himself as a victim against the system. When you break a just law, I believe the system has some kind of right to punish you as it sees fit. In portraying himself as a victim he is hoping to get the public on his side. Not going to happen. I honestly do not understand this guy. So much has blown up in his face these last few weeks, why does he not just quit? How much more will it take? Is he trying to make things more interesting for the movie deal?

The House has voted to reject President Obama’s request for the rest of the bailout fund, 270-155. Nevertheless, the Senate had decided last week not to block the release of the money. In this way, President Obama will still get his way, but knows it was not a decisive nod in his direction.

The critics of spending that bailout money are made up of both Democrats and Republicans. Public opinion is growing strong against so much spending. Obama has to be aware of this. What can he do? Some spending must be done, yet the spending done so far has not been done correctly. Nevertheless, workers will not be silent while big business gets so much help. That is why the House even bothered to vote, knowing it would not mean much.

“Why are we still voting on it?” House Financial Services Chairman Barney Frank asked. “Because there is a degree of anger in the American public at what they think is a very unfair system that gives benefits unduly and disproportionately to some of those who caused the problem, while denying health care and unemployment compensation and a decent higher education for working-class people.”

A glorious day for many in the United States. George W. Bush has left Washington D.C., and President Obama is here. The celebration was huge. The stock market also had a small gift for President Obama. The Dow fell 332 points, 4%. That is the worst presidential administration start ever, even topping when Johnson took over from Kennedy on the day of his assassination decades ago. I think that puts things in some perspective. The stocks dropped on the day the nation’s top leader was killed. What is the excuse this time? It is pure financial doom. Bank of America is in danger, much like Citibank was last year. President Obama really needs to hit the ground running. Enjoy this moment for only a moment, and start getting to work. This job is more than just prestige, especially now. Good luck, President Obama.