Monthly Archives: April 2009
President Barack Obama on Monday directed his cabinet secretaries to slice $100 million out of their departmental budgets–an amount equal to 0.007 percent of the deficit spending Obama plans to undertake in 2010.
My Comment: I’m sick of hearing about bank stress tests. It’s a joke and the Government has mismanaged this from the beginning. First the Government couldn’t decide if they were going to publish the results. Now, they say they will publish the results and that no bank will fail the test. So is this a case of participation alone gets you a gold star? The public and investors are supposed to feel good about a transparent “stress test” that no bank fails.
In my opinion, the results should not be published. The Government will have the ability to pick and choose which banks win and lose from the stress test, by publishing which banks are healthy than the others. Another potential problem is how much data is the Government going to release; just the score or a detailed report. If the release is skinny on details, I suspect investors will view this as a bad sign, because the government is trying to hide just how bad the results are.
Bank bailout plan’s ‘stress tests’ already causing stress
A Tax Cut for 95 Percent of Working Families? I don’t think so.
Obama: “My plan will provide a tax cut to 95 percent of all working families…”
You can’t cut taxes on 95 percent of working families because according to the IRS about one-third of all income tax filers don’t have an income tax liability.
About 15 percent of all working families don’t even have a FICA tax liability, and these numbers are before taking into effect all the new refundable tax credits of the Obama budget.
Call a spade a spade, Obama is redistributing income to “working families.”
Republicans are smarter than Democrats on financial matters? So what, we are all under educated on these matters
Source: Pew Research