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  • Morning Bell: The President's Permanent Political Slush Fund

    After suffering major electoral and legislative defeats last month, President Barack Obama took to the campaign trail in Nashua, New Hampshire, pitching his administration’s latest new plan to lower our nation’s double digit unemployment rate. This time, the President hopes to do for small businesses what Fannie Mae and Freddie Mac did for home mortgages. Specifically, he wants to create a new $30 billion “Small Business Lending Fund” which will loan money to banks with assets under $10 billion at favorable new rates, as long as they comply with a slew of new regulations designed to incentivize them to loan that money to small businesses. Never mind that a recent poll of small business owners by the National Federation of Independent Businesses ranked “Finance and Interest Rates” as the second to last most important problem facing their business.

    And just where does the President plan to get this new $30 billion? The President explained yesterday: “This proposal takes the money that was repaid by Wall Street banks to provide capital for community banks on Main Street.” In other words, TARP – the $700 billion Troubled Asset Relief Program first signed into law by President George Bush, and then used by Treasury Secretary Hank Paulson to force many financial firms into taking taxpayer money they never wanted in the first place. But if Wall Street banks are paying-back their TARP funds, then how can President Obama say the following when justifying his  Financial Crisis Responsibility Fee:

    We want our money back, and we’re going to get it. And that’s why I’m proposing a Financial Crisis Responsibility Fee to be imposed on major financial firms until the American people are fully compensated for the extraordinary assistance they provided to Wall Street. If these companies are in good enough shape to afford massive bonuses, they are surely in good enough shape to afford paying back every penny to taxpayers. Now, our estimate is that the TARP program will end up costing taxpayers around $117 billion — obviously a lot less than the $700 billion that people had feared, but still a lot of money.

    So which is it? Are Wall Street banks repaying their TARP obligations in full so that the President can afford to spend $30 billion on his new Small Business Lending Fund? Or is TARP going to lose $117 billion? The answer is both. In reality, the major financial firms that took TARP money – many against their will – are paying-back those funds, and American taxpayers will get every single dime they are owed. But TARP has long since devolved from a one-time emergency action into a crony-capitalist political slush fund. TARP will lose money. But those losses will come almost entirely from the bailouts of union-backed firms General Motors and Chrysler, as well as AIG. Of course, GM and Chrysler are exempted from President Obama’s Crisis Tax, as are the government firms at the core of the housing bubble – Fannie Mae and Freddie Mac. The President’s Crisis Tax has nothing to do with recovering unpaid taxpayer TARP money and everything to do with finding a new source of revenue to help cover up the Obama administration’s massive new spending increases.

    And unfortunately, more government spending and more government regulation are this administration’s answer to every economic problem. But more debt and more regulation will not create new jobs. According to a new Gallup poll, 57% of Americans are worried that there will be too much government regulation of business, half say the government should become less involved in regulating and controlling business, and only 24% say the government should become more involved in regulating and controlling business, which is exactly what the President’s new “Small Business Lending Fund” does. And remember that NFIB poll that showed borrowing costs as the next to last problem small businesses face? Well, that same poll also identified taxes as their second biggest problem and government regulation and red tape as the third. Americans and America’s small businesses know what will create new jobs, and it ain’t taxpayer campaign giveaways from the White House.

    Quick Hits:

    • Due to a debt burden that will climb to 97.5% of gross domestic product, Moody’s Investors Service said the United States will “test the Aaa boundaries” of their top debt rating.
    • House Majority Leader Steny Hoyer (D-MD) said Tuesday that the White House is reassessing a plan to move Guantanamo detainees to a prison in northwest Illinois.
    • The Obama administration’s top intelligence officials on Tuesday described it as “certain” that al-Qaeda or its allies will try to attack the United States in the next six months, and they called for new flexibility in how U.S. officials detain and question terrorist suspects.
    • Iran test-fired a new satellite rocket and unveiled three new telecommunications satellites and a new satellite-carrier engine.
    • MSNBC’s Keith Olbermann has lost 44% of his audience since President Barack Obama was sworn into office and is now third in the ratings behind Nancy Grace.
    Posted in Ongoing Priorities [slideshow_deploy]

    65 Responses to Morning Bell: The President's Permanent Political Slush Fund

    1. Howard Reed, Durhamv says:

      Look for the Bam to cover his flim-flam man tracks by sleight of hand maneuvers to incur more debt. It is plain to most Americans where this guy and his progressive cronies are taking this country, by progressives attitude toward the nation in the first place. He and his Marxo-Sapiens pals are not to be trusted in any aspect of governing the country. Like Nancy Reagan's drug campaign, "just say not to Obama'' progressivism" as they did in three off year elections of late, and are getting ready to do in his political home state.

      The Turban Torpdeo

    2. Mike Baker - McKinne says:

      It's simply BHO is a bait and switch con-artist

    3. Richard Cancemi, Arl says:

      The Flim-flam man is at it again!

    4. Mary.... WI says:

      More of the same mismanagement of taxpayers money. Everyday the government gets a little bit bigger. To me, the outlook for this country to win back her strength seems to diminish every time BO opens his mouth with new plans designed by his administration. Will we all end up as serfs to the king?

    5. Normca says:

      The Motto – Never let a crisis go to waste. In this case; control more banks and with it the engine of the economy. Only now after major defeats for his party; more voters see through the Marxists plans. And the MSM just continues to paint a good picture for this president. More failed policies will [unfortunately for the unemployed] result in more failure. The agenda of hate, that this man, is not good for America and November 2010 can't come son enough to take him down several pegs. We thought Willy used Executive Orders to the max; that's all I want Obama to have left in 12 months. .

    6. Ann Cassileth says:

      The Obama Administration contiues to spend money, makes promises etc which leads to USA going bankrupt. This Administration reminds me of a shell game of a con artist watch my hand as the funds disappear.

      I wish Congress and Senators would wake up but most of them are enjoying the shell game also.

      My fear is that China could step in and take over the USA in collecting their money. It makes u wonder since the Administration n Czars all like the Communist Moa or Moe – Could that be their underhanded plan?

    7. Bill says:

      The curent adminstration is still using that shovel to dig that hole deeper and deeper. The question is where, really now, the money is coming from. We are broke, busted, so just borrow more from China. This land is your land and this land is my land, don't let this continue. Vote all of them out, both sides of the isle..

    8. Backliner, NJ says:

      The most dangerous (to country) president in my lifetime and probably in the history of the republic!

    9. Ozzy6900 says:

      The President's backward economic program is putting us deeper and deeper in a hole. The Government is out of money, the bills are mounting and he just keeps spending! This is sheer stupidity! No one can run a business or a household in this fashion and there is no Government on Earth that can sustain this kind of economic suicide. President Obama in his quest for redistribution of wealth is crippling small business, bringing corporations to a halt and bringing our Society to a point of Revolution, all in the name of Socialism. The man was never anything but a Community Organizer, he has not experience running a business and he has no use for Capitalism because he was brought up hating America and what REALLY made Her the Greatest Power on Earth. Hope and Change ——– you can keep it!

    10. Keith says:

      Where , in the Constitution, does Obama have the authority to just arbitrarily dole out money?

    11. Don Turano says:

      It's not financing which most small business want, it's customers, And the only way to spur more cosumer spending is to LOWER taxes.

    12. Ed LeDuc Miami Fl says:

      I just wanted to say I liked the old format better.

      thanks Ed

    13. Ken Jarvis says:

      It is NOT what they say,

      but HOW they say it -

      WHY would the HF call the –

      "Small Business Lending Fund"

      a "Slush Fund"?

      WHY?

    14. stuart goodall, tuls says:

      It is unconstitutional for Obama to direct 30 Bil to anyone as it is the congress who is charged with that

    15. Tater Salad says:

      I sure hope small business owners do not fall in the trap of accepting any of this Obama sluch fund money that the taxpayers own. "If" these owners accept this money they will then become "beholding" to this administration and have to walk the plank for the progressive agenda. Please, don't fall for this "Switch & Bait" program.

    16. Tater Salad says:

      Small business owners, don't fall for this. He is "pitting" you against each other by trying to get some to accept the money and then he will "own you".

      http://www.youtube.com/watch?v=HfeKHqYqMQw&fe

      http://cloward-piven.com/

      http://www.youtube.com/watch?v=HfeKHqYqMQw&fe

      http://www.americanthinker.com/2009/11/clowardpiv

      The strategy of forcing political change through orchestrated crisis. The "Cloward-Piven Strategy" seeks to hasten the fall of capitalism by overloading the government bureaucracy with a flood of impossible demands, thus pushing society into crisis and economic collapse.

      http://www.youtube.com/watch?v=HfeKHqYqMQw&fe

    17. Lou Trillo, Parkland says:

      Mr. O and his pals see the writing on the wall ever so clearly now. "Spend now, get Congress to pass all the earmarks and enjoy it while you can 'cause in November your majority will be wiped out clean." The great man of hope and change will leave our coffers dry… but not before he lines the pockets of those that helped catapult him to the top. Once again John Q Public is left paying the bill for generations while a select few become more rich and powerful.

    18. Salverda, Hugo MN says:

      According to the "dubious" law that authorized the tarp money to be borrowed in the first place, left over tarp money "shall" be used to pay off the debt, any other use of this money is illegal. It is rightly called a slush fund because it is a pile of cash that is being kept illegally to be used at the discretion of the executive branch. The constitutional system of checks and balances, whereby the "congress" has to authorize expenditures is being ignored!

    19. Bob Veigel, Arlingto says:

      Obama does not know up from down or right from wrong. He is a compulsive liar, a nation destroyer and in plain english a very corrupt, indecent, incompetent and ignorant political hack. In addition, he is a disgrace to freedom loving people. And very dangerous to our Nation.

    20. Blair, Franconia, NH says:

      When Obama was sworn in last year, or shortly thereafter, there were people lined up

      to get money from the government. I think it was thirty thousand. I'm not sure. This,

      as was broadcast on the Rush Limbaugh Show last January, was in Detroit. When the reporter for one of the local television stations asked a woman what she was doing in line. She replied: "I'm here to get my money." When the reporter asked her:

      "Where do you think the money's coming from?" she replied: "It's coming from Obama's private stash." Sad but true. The leftover money from TARP wasn't meant to be "Obama's stash." It's supposed to be used to pay down the debt. If we ran our

      businesses the way Obama and the Democrats in Congress are running the government, then we'd be sent up the river to la grand maison, or la casa grande.

      Translation: "the big house." That's federal prison for you and me. Either Marion,

      (Illinois), or the Supermax in Florence, Colorado. That's where Obama and his Corruptocrats belong.

    21. Dingus, Bellingham, says:

      Reading about this in the WSJ yesterday, the first question that came to my mind is: What strings will the White House attach to the funds distributed to the banks to lend to small business? Somehow I won't be surprised if there is a "racial diversity" quota attached. Something along the lines of forcing the banks to factor in race, in addition to the traditional screening methods used for making prudent business loans. If so, this stinks of the same logic that created the housing bubble/crisis. Not the same scale of course, but similar ridiculous logic. Plus, the banks may have little incentive to resist or care, given that these are tax dollars (and not customer deposits). But what the heck do I know…. I'm a "clinger of guns and religion".

    22. Tom, US Virgin Islan says:

      What I fear is that with the consensus of conservatives being launched to throw out both side of Congress, the President will decide that another crisis is at hand and issue an Executive Order to cancel the mid-term elections and consequently save the jobs of his cronies. I hope the hell I'm wrong.

    23. Ken Jarvis says:

      I looked it up -

      Definitions of slush fund on the Web:

      * a fund for buying votes or bribing public officials

      wordnetweb.princeton.edu/perl/webwn

      * Slush fund is a colloquial term which has come to mean an auxiliary monetary account or a reserve fund. However, the term has special meaning within a context of corrupt (including but not limited to) political dealings by governments, large corporations or other bodies and individuals. …

      en.wikipedia.org/wiki/Slush_fund

      * Money stored for illegal or dishonest purposes

      en.wiktionary.org/wiki/slush_fund

      * A fund (or something similar) that does not have a designated purpose. These types of funds are often illegal.

      investor.infospaceinc.com/glossary.cfm

      HOW did YOU expect your readers

      to interpret your meaning?

      LVKen7@Gmail.com

    24. Lloyd Scallan - New says:

      Again, we all must realize that part of Obama's plan to "transform" this country. is to destroy our capitalist system and thus our economy. I know no one wants to believe this is possible in this country. But when we understand that this Socialist, Marxist system has been at work for 100 years, we will see the truth. Once our economy fails, a "crises" can be declared. Then Obama will be free to complete the take-over of every aspect of our lives and this nation. We must understand who and what Obama is!

    25. Yitzhak, Israel says:

      Just look at Germany to see what government regulation of business accomplishes. High unemployment rates and a shortage of workers. It cost too much money to employ workers in a regulated regime.

    26. Brad, Detroit, MI says:

      Jesus 2.0 is not qualified to run a hot dog stand, yet he stands in front of everyone (consults his "economists" – aka – lackeys) and proclaims how HE and HE alone will get our economy going again. I still can't believe that we elected this clown.

    27. toledofan says:

      This is just an incredible thing to watch; out government spinning out of control and we can't do a lot to stop it. I just wonder what Thomas Jefferson or Ben Franklin would be saying, today, if they were alive. I'm pretty sure they would be beyond words and flabergasted at what is going on. It'sobvious that the democrats can't be trusted with managing the government, our economy, the military and the war on terrorism. All of the mis-steps from the Fannie and Freddie debacles, TARP, the budget, closing Gitmo, raising taxes, the HiNi scare, the health care bill, tryin terrorists in civilian court, the deficeit, etc. are all glaring examples of not only mismanagement but incompetyence as well. Hope and change you really can't believe in because its the wrong direction.

    28. Al Wunsch, Fl says:

      This man (Pres Obama) is a disaster. In the first place, the TARP funds were not used for that which they were authorized – to buy up bad loans and square away fannie & freddie. To use them as this administration is doing is illegal, not that the law or the constitution ever had the respect of this admin. As for what he says, it is just that – a new line to cover what they still want to do. Nothing has changed and it won't until we vote the dems out. After we vote the dems out, we may, depending upon what the party does, have to vote out the rest of the incumbents. This admin is still on the same secular progressive path that he and Pelosi/Reid have been on prior to the MA senate race. (and the MSM is still out to lunch as well)

    29. R. Wayne Moorhead, K says:

      Small business purchase and/or expansion. The reasons people are not buying and/or expanding are: If the government forces healthcare (pt & ft employees), eliminates "independent conractors status" & forces unionism on them, all small businesses will go broke.

      A business broker for 30 years.

    30. Dennis Social Circle says:

      Spend is the motto, never mind if the country can not afford the bill.The American people made a huge mistake in the last election, one that our great-grand children will be paying for. "Hope and change", well we got the "change" and in the process we lost "hope". I guess we can "hope" that the red white and blue will continue to fly, but wonder if we will end up under the chinese flag instead.

      The dems and obama are wrong, we must remove them from office at the next election and at the same time remind the next office holders who they work for.

    31. Pakala, Honolulu says:

      I'm a retired commercial banker; a 33-year career in finance. The one thing many folks (like the Dems) don't understand is that banks always want to lend as much money as they can. They make a much higher spread on loans than other types of transactions. But to give the banks more money to lend won't creat any more risk acceptable lending opportunities than they already have. The problem we have now with the economy in the tank, is that there are far less opportunites to make a loan. Remember that no matter what their ads say, banks don't "invest" in business; they "rent" money to it. A commercial bank never makes a loan if they're not sure they'll get repaid. So giving them more money won't enable banks – the most regulated industry on the planet – to make loans to customers whose ability to repay is in question. In the field of finance (and many others) rate must always equal return. It's a rule of the universe. That's why banks have the cheapest rates. They don't take risks. They can't take risks because when a depsitor comes for his money, they can't say, "Ahhh…wait a while until we can collect it…OK?"

    32. Barbara Glorioso says:

      e-mail address is correct

    33. John Sharp,Federal W says:

      According to the TARP bill when written..ALL funds REPAID SHALL…I REPEAT…SHALL..( NO WIGGLE ROOM WITH THIS WORDING) BE USED IN PAYMENT TO REDUCE THE DEFICIT..& FOR NO OTHER PURPOSE!!!

      Obama's attempt to use these repayment funds in ANY MANNER other than reducing the deficit is BREAKING THE LAW..& in doing so..ONLY compounds the debt structure our being PILED on US & OUR DECENDENTS…EVERYONE ONE OF US SHOULD IMMEDIATELY CONTACT OUR LEGISLATIVE REPRESENTATIVES & INFORM THEM THIS IS TOTALLY ILLEGAL & UNACCEPTABLE..& I BELIEVE THEY ALREADY KNOW THIS..BUT WE MUST REMIND THEM NOW..IN NOVEMBER 2010 & AGAIN IN 2012!!

    34. Louis L Cesar F LEVY says:

      Can man establishes the relationships between Mind control and money? the Comptroller can always suggests smart twisted ways so that his objective is fullfiled without most realizing who does what. Got it?

      To understand the phenomenology of our times and wars, it is necessary to see how unthinkable relations are effectively established by mind control warriors in the economical sphere as well, and not only social and political.

      What do you want? As long as most can't see these meaningful abstracts then the logic behind what is happening escapes our logical reasoning.

    35. Ted Stein says:

      I suspect my views may be discredited since I'm not motivated to blame the current administration, (or former administration) but here goes…TARP was intended to preserve both the domestic and global financial system. Financial institutions were "forced" to participate so the weakest would not be segregated, leaving them even more vulnerable. AIG was a recipient of financial support to give the global financial market confidence that the insurer would not fail. It has a lot to do with the US being both the currency of choice and supporting the notion that the Government truly provides the ultimate guarantee under the full faith and credit concept.

      Although I'm not "pro union" from a political perspective, the typical union workers' compensation differs dramatically from the so called "Wall Street" types that frequently make millions of dollars in compensation. I was not opposed to giving bonuses to those same Wall Street types, any more than I am against paying union workers their compensation that was negotiated through collective bargaining. The so called "pass throughs" that got into domestic and foreign hands at one hundred cents on the dollar, were intended to satisfy that same full faith and credit concept, and it worked.

      Union workers are not bad people, anymore than investment bankers are bad people. However, manufacturing is where value and wealth is derived, not banking.

      We need to redouble our efforts to encourage investment in innovation. Bankers don't invest, they receive fees for brokering the relationship between those with money and those that create value and wealth. Union workers aren't weathly, but they build the products that are sold, which does produce value and wealth. A strong middle class provides consumers to buy those products. Note: most people don't realize that the US is still a major manufacturer. Unfortunately, weapons is our greatest export.

      Concerning small business, approximately 50% of all jobs come from small business. However, around 80% of small business start-ups fail within five years. Since it's not likely that corporate America would invest in this economy, at least not right now, and it is more likely that entrepreneurs would take the risk of starting a new business, particularly since they don't have an income. We should put our money "at risk" with the entrepreneur.

      Concerning Fannie and Freddie, I believe in home ownership. It gives people a stake in their community. They're more likely to get involved in community activities that can only benefit society as a whole. Anything that we can do to encourage home ownership, we should.

      I would add education and training to the mix, but that's for another time.

    36. bigdave, ocala fl says:

      Excuse me, the TARP funds are BORROWED MONEY! Borrowed IN ADVANCE, from FUTURE TAXPAYERS! And more good news: the number of taxpayers is DECLINING as the number of tax receivers(includes union govt workers) has EXCEEDED THE PAYERS!!! Thank you morons like Ken Jarvis! Even more good news: social security deductions now DO NOT COVER SS PAYMENTS!! Thanks again to another DEMORAT, TED KENNEDY who personally made it possible for the fund to be DRAINED TO THE TUNE OF MORE THAN $60BILLION PER YEAR, paid to IMMIGRANTS who never paid a penny into the fund! So I ask you"what good are demorats?". They have done NOTHING BUT DESTROY THIS COUNTRY! All government DEPENDENTS, drug addicts, alcoholics, homeless, illegal immigrants, convicts in prison, are ALL DEMOCRATS!!! You people should be proud! You are managing to bring an ENTIRE COUNTRY DOWN TO YOUR LEVEL!!! Please, HERITAGE INCREASE YOUR VISABILITY!!!

    37. Walt Mn. says:

      Just figured out where the money is comming from, having been retired for 8yrs I see the increase in taxes on my retirement check of $42.00 a month is my share.

    38. William Downey, JD L says:

      The law creating TARP specifically requires that TARP funds repaid be returned to the genral fund and used to reduce the deficit. The Director of OMB testified at a Senate hearing yesterday that it was the intent of the administration to use those repaid funds to fund other initiatives. Senator Gregg of NH finally got the director to admit they needed Congressional action to use the funds in the manner that the administration wants.

      Simply, the president is saying he is going to do something he is legally prohibited from doing. Should the funds not be reallocated then he can say it's the fault of Congress, Classic misdirection.

    39. Evan, Anchorage says:

      I am glad to see HF offering solutions with their complaints for a change. They even said cut corporate welfare once. Let's hear it again. I will vote republican when I see a contract with America. Until that that happens, it is just noise they are making.

    40. susan neal, Irving t says:

      I loved reading the other comments about the illegal use of the left over Tarp funds; I am not surprised in the least that Obama would illegally do this, since when did he and eric holder ever follow our Constitution? They hate it because it limits their power; our Founding Fathers were very wise when they wrote this document; it is too bad that our government and our courts have abandoned it!

      Fannie and Freddie were set up and used as a slush fund for democrats; obama got close to a million dollars for his campaign; hillary got a nice wad of cash, also; can someone with a constitutional law background answer why Frank, Dodd, Raines, Johnson, Gorelick, Angelo of Countrywide and a host of other democrats have never been subpeoaned and forced to testify under oath as to their part in the sub-prime crime? I am still livid that none of the members of the banking and financial committees who were directly responsible for this corruption that has casued the whole melt-down of our economy not mentioning housing value losses in the state of Florida that I have been a victimof as well as countless others; Hey, Barney, do ya think that people that did not have a job or any source of income should have been getting sub-prime loans for a house? Duh! I can not wait til November comes; I look forward to helping make Obama the lame duck president that can DO NO MORE HARM! I also want Scott Brown seated as of January 29, 2010, as he should have been as directed in MA's constitution; wonder if barney handled that transaction like he did Fannie and Freddie?

    41. Rick74 says:

      In the NFIB report is the statement: "Santa Clause did deliver some nice revisions to the jobs numbers that will cheer everyone up as we watch the change in employment cross the “0 line” maybe by the end of the year (private sector jobs will finally take the lead)."

      Santa Clause?

      Sorry, the spell checker and grammar checker would not catch this.

      The mistake, however, makes the editing look like it was done by the best of climate change defenders.

    42. ella quinn,kinston,n says:

      My family didnot vote for obama. We saw thur him,he is a muslim. He sat in a church 20 years and listen to a man talk bad about our country. What kind of people could vote for a man who does not love our country.You need brains to know the truth about him and his democrat followers.He associated with bad people. All of you that voted for him need to give account of why you did.Their is no real meaning to why you did.You need to ask america for forgivness. Next election vote him out.If you love you children and grandchildren you will.pray god will help you see what you have done to us all.

    43. JFBeck says:

      Target 2010

      175 House Dem seats turn over.

      18 Senate Dem seats turn over.

      1 One term President 2012

      A trial for crimes against humanity for every member of the current administration

    44. William D. Jackson says:

      I was under the impression that in order to spend money, you had to make money ? And if some company extended you credit, you were limited to the assigned amount ! If you had no money,no job,and had failed to save your money and ruined your credit. You were out of luck, leaving you a couple of options. Go on welfare, or reastablish your self by doing what you should of done in the first place . This includes having a Cosigner to stand for your loan. If you failed once again to do as you promised you were out of luck. The Key Points in here are keeping your promise,integraty, and honesty.Our New President " doesn't" fits into most all of the requirements. When are the people who meet these obligations everyday are going to stop this person(s) from destroying Our Econony,and foundation with no ending credit or limitation on spending. Wake up America, if we don't, one of these days soon, There Wont be an a America ! Get out and use your Common Sense to Vote and Get your Representatives to Stop this Run Away Train !

    45. Lynn Bryant DeSpain says:

      Mr. Obama has yet to inform the Nation or Congress where the funds are coming from to pay for all of his Czars. This money must be coming from the Tarp Fund. There are no other funds with reserves large enough.

      Mr. obama's hero that he himself chooses to emulate is past President Woodrow Wilson, the creator of the Federal Reserve, the beleiver of Eugenics, the man who believed that only the most well bred and most intellegent and best educated should run this nation. The same man who stated that our Declaration of Independence, our Bill of Rights, and our Constitution, had no place in the modern World, and was useless. The very same man who resegregated the Military.

      The very same President, that while the rest of the World was looking to America as a Future Role model, and France was building the Statue of Liberty as a Tribute, was looking to Germany as a model to fashion America after. His alma mater, John Hopkins, sent their very best to Germany to finish their educations.

      Obama doesn't believe our most important three Document of Freedom mean anything. Obama also apologized to Germany for our part in both World Wars.

      At Obama's direction Congress is creating a National Medical system designed to "weed out" those who are too old, or withut the mental capacity or physical capacity, to 'earn their own way and contribute to the greater Society. Obama gave our Veterans a book telling them that it was their Duty to commit suicide rather than be a burden to their families and Country.

      Woodrow Wilson created the term, "Progressive'. Obama calls himself Progressive, and he is not alone. McCain also calls himself Progressive and most of our Senators and Representative do also.

      Read your history of Woodrow Wilson and it will frighten you how similar it is to the thoughts of this time.

      Let us not History to repeat itself, let us not live under Wilsons Fascism, or Socialism lead by an eletist goup, who all think that the rest of us are mealy chattle.

    46. Barbara G says:

      Obama has no intention of playing by the rules. He has gone through the system himself, no doubt, and knows how to make it to the top on other people's money. How do you think he got to Harvard? Why do you think he has had all of his records from birth through college sealed? He most likely lived by the rules of ripping people off, then worked through the corrupt Chicago political machine and taught radical Saul Alinsky principles as "professor", and now is trying to push this on low and middle income America, while stealing from those in America who have worked hard, made some money, and helped further America's causes of independence and conservatism. Does anyone see the parallel between Obama's administration and the Broadway show "Lion King"?

      Think of the Bush Administration, right wing Republicans, and conservatives as Mouffasa,and Scar, his brother, as Obama and his radical followers, and the Lion King's family as the Americans "making over $ 200,000/year" wealthy who are essentially made into slaves for the lazy hyenas, and the Lion King's girlfriend as the conservative media and movement searching for the Lion King to return and re-establish order to the land. That leaves the question as to who is going to be the Lion King,ie, the one(s) to take back the land and bring order, values, prosperity, and freedom back to our America?

    47. parella, florida says:

      It's 2010, and November cannot come soon enough. The only way to stop the Obama agenda is to replace the clowns in the House and Senate…Democrats and Republicans…who are so corrupt in their free-spending ways that we're in such serious trouble as a result. The Constitution is all but in the toilet with these clowns and we need to vote in some common sense representatives who think of the people of this country…not those who line their pockets or the pockets of their pals. The people of Massachusetts spoke up and we need to do our part….else our country is lost.

    48. Stephen Mills ; Aike says:

      I want to ask a question. Can a group of citizens sue a sitting sen. or congressman for not upholding the constitution, or passing laws that are unconstitutinal? Someone please reply, as I am really wanting to sue this government, mabe with a class action suit.

    49. Mike Marsh,Californi says:

      As I understand it, the TARP law requires all repaid moneys to be used to reduce the government's debt. If this is true, then it is illegal for BO to use the repaid funds for ANYTHING ELSE!! Does he think he can ignore our laws? This man and his party are truly dangerous to our republic. We are not a dictatorship!!

    50. hal metzger - Scotts says:

      This TARP nonsense and the President's slush fund is just additional bad news for an already despairing American voter who have been spoon fed the Obama disasters over the past thirteen months.

      Does all this mean that we just have to sit by and witness the further crumbling of our country without any recourse? When will Obama and his minions be stopped dead in their tracks? By the time November rolls around and we emasculate the Congress of all Democrats, it may be too late. Tell us this is not so and that there is some answer to this frightening dilema. How can the Administration expect the economy to turn around and get healthy when the middle class wealth that fuels the economic engine portends nothing uplifting in the foreseeable future? Obama's policies are slowly dimming the light at the end of the tunnel as our confidence wanes and is repleat with uncertainity.

    51. cella smith germanto says:

      Obama should not be spending any money paid back. He also should pay back the trillions instead of buildig trains to nowhere. who will have money to rideto travel on them??? We must clean house!!!

    52. jane hughes, san ant says:

      I share the same opinions as many have expressed- we have two of the three branches of the Federal Government that are out of controll, out of touch, anti-America as the Founding Fathers envisioned it, and on a collision course to economic collapse. My question is, what do we do about it? The election in MA was HUGE, and it provided a glimmer of hope that there are many like minded people out there. And, it may really be correct that the state that started the first Revolution started the second. Any US Representative or US Senator who has not been a VOCAL opponent of the actions of the Democratic majority has not upheld their oath of office and needs to go. I just pray that the 2010 elections are enough to save the Republic from a banana "republic" democracy.

    53. duelles says:

      We elected a hack. Mr. Obama is following Marx's teachings in controlling central banking and money. The creepy guy doesn't care. He is a sociopath. I would like to see him prove otherwise.

    54. bigdave, ocala fl says:

      Obama is living proof that try as he may, he can not legislate PROSPERITY! He is "paving the road to destruction of the middle class AND the upper class to which the middle aspires!". When all the money is really gone after his wealth-transfer,and all the businesses/manufacturing is gone, who will support the massive government employee payroll which now surpasses the private sector? The LEFT WING NEWS MEDIA? They really believe they are insullated from any financial harm. The MORON KATIE COURIC's pay is being halved(no one watches her anyway, she should be ditched) , Sony laying off thousands because DVD sales in the tank..hey its just the beginning folks! No one will be spared in the disaster OBAMA is creating. Some say on purpose. Ok, lets say they are wrong. Would you get on a jet aircraft KNOWING THE PILOT HAD NEVER FLOWN BEFORE AND THERE IS NO BACKUP?! Either way, the RESULTS are the SAME! HERITAGE SHOULD BE ON CABLE TV..,WHERE FOX NEWS STARTED AND THE ONLY SOURCE OF THE TRUTH!

    55. CommieBlaster, Chica says:

      FLASH!!

      This Brand New Video Blows a Huge Gaping Hole in Obama's Cap and Tax Scheme: http://www.youtube.com/watch?v=BVm5-6H_sH4

    56. B. Lowe of Utah says:

      I was a small business owner for one year and then my business went under. The single most robber of our cash drawer was the Federal and State Governments. We not only had Federal and state taxes to pay but Workers Compensation Fund, and Work Force Services. We also paid State Sales Taxes and carried insurance on our employees and the building we leased. With our overhead, We had to charge more for the rental of our product which was videos. No wonder we went out of business. People could go to red box and Net Flix and rent for less than half of what we had to charge. It was a little Mom and Son business and we loved working with the public, but we lost it. How dare he and his cronies tax the people more and plague small businesses with more debt! All ready the people of the United States are putting up more that they were from England when the Declaration of Independence was signed. The House of Representatives can impeach him according to the Constitution and it is time the did it.

    57. Laura Kauffmann says:

      Just a little reminder that the plural of the title Attorney General is not Attorney Generals (as they are not in the service), but Attorneys General.

    58. Zach Petitbone, Colu says:

      Obama said he was going to spread the wealth around, even if he has no authority to do so. Taxes and regulations are choking small businesses, but Obama thinks taxes and regulations are "good" as in that he can reward his friends and punish their enemies/competitors. Loans are the least of a small business' problems.

      Watch Obama sign numerous Presidential Decrees to bypass Congress. He is determined to spread the wealth (or transfer massive wealth to his donors and friends). And watch where the small business loans go.

    59. d.doe/kinnelon nj says:

      I'm sick & tired of the outright corruption in Washington.. Someone has to put a stop to it all NOW…

      We spend billions like it nothing to the Government's debt..

      Are we Bankrupt or wi9ll we soon be……..

    60. Pingback: Morning Bell: Dodd Bill Creates Permanent TARP and You Can Quote That | The Foundry: Conservative Policy News.

    61. Pingback: Morning Bell: Dodd Bill Creates Permanent TARP and You Can Quote That « Thoughts Of A Conservative Christian

    62. Jackson, Denton, TX says:

      Maybe we need a new movement of folks fed up with out of control spending, using the same acronym as the governement spending spree advocates, but with a totally different meaning:

      TARP: "TOTALLY AGAINST RECKLESS PAYOLA"

    63. Pingback: Morning Bell: Wall Street Bailouts Forever « Thoughts Of A Conservative Christian

    64. Pingback: Geithner: Sir Bail-ALot | Clarion Advisory

    65. Pingback: Wall Street Bailouts Forever « Conservative Thoughts and Profundity

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