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#951401 --- 01/06/09 09:08 PM Obama to include accountability in economic plan
Retired Soldier Offline
Silver Member

Registered: 12/23/05
Posts: 12945
Loc: Rochester, NY
Obama to include accountability in economic plan
By CHARLES BABINGTON and LIZ SIDOTI – 56 minutes ago

WASHINGTON (AP) — President-elect Barack Obama vowed Tuesday to bar lawmakers' pet projects from his massive economic stimulus plan and to bring unprecedented accountability to federal spending.

Even as he promised to fight waste and to make tough budgetary decisions, however, Obama warned that the nation could face trillion-dollar deficits for years go come. Eight years ago the federal budget ran a surplus, and the deficit on Sept. 30 was about $455 billion.

Two weeks before taking office, Obama said Americans will accept his proposed stimulus plan — expected to cost about $775 billion — only if they believe the money is being used wisely to boost the troubled economy and to make smart long-term investments in public projects.

He told reporters at his transition office that his package will set a "new higher standard of accountability, transparency and oversight. We are going to ban all earmarks, the process by which individual members insert projects without review."

Details of the plan, which has yet to be drafted as a bill, will be available online, Obama said, "so the American people will know where their precious tax dollars are going and whether we are hitting our marks." He promised to make difficult choices and to "eliminate outmoded programs and make the ones we do need work better." He did not specify which programs might be trimmed or eliminated.

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#951449 --- 01/06/09 10:46 PM Re: Obama to include accountability in economic pl [Re: Retired Soldier]
Samuel Offline
Senior Member

Registered: 02/07/08
Posts: 4495
Loc: Potter, NY
Originally Posted By: Retired Soldier
Obama to include accountability in economic plan
By CHARLES BABINGTON and LIZ SIDOTI – 56 minutes ago

WASHINGTON (AP) — President-elect Barack Obama vowed Tuesday to bar lawmakers' pet projects from his massive economic stimulus plan and to bring unprecedented accountability to federal spending.

Even as he promised to fight waste and to make tough budgetary decisions, however, Obama warned that the nation could face trillion-dollar deficits for years go come. Eight years ago the federal budget ran a surplus, and the deficit on Sept. 30 was about $455 billion.

Two weeks before taking office, Obama said Americans will accept his proposed stimulus plan — expected to cost about $775 billion — only if they believe the money is being used wisely to boost the troubled economy and to make smart long-term investments in public projects.

He told reporters at his transition office that his package will set a "new higher standard of accountability, transparency and oversight. We are going to ban all earmarks, the process by which individual members insert projects without review."

Details of the plan, which has yet to be drafted as a bill, will be available online, Obama said, "so the American people will know where their precious tax dollars are going and whether we are hitting our marks." He promised to make difficult choices and to "eliminate outmoded programs and make the ones we do need work better." He did not specify which programs might be trimmed or eliminated.



You believe that? Every President since George Washington makes the promise of no special interest, or the new phrase "ear marks." Name a democratic President who has not taxed the crap out of Americans. The Clinton's were successful at holding the line because they did not spend money on the war that should have taken place eight years earlier. Hold on to you wallets folks!!

The stimulus package is not necessary now that gasoline has dropped 50%. The money that we don't spend on gas is entering the economy just as the stimulus plan dollars would. Why go another 85 billion in debt?


Edited by Samuel (01/06/09 10:48 PM)

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#951451 --- 01/06/09 10:53 PM Re: Obama to include accountability in economic pl [Re: Samuel]
Retired Soldier Offline
Silver Member

Registered: 12/23/05
Posts: 12945
Loc: Rochester, NY
It is too bad you are not in Washington sharing your expertise with the other economists, including a Nobel Laurate who say that this is the worst crisis since the Great Depression and getting worse.
Which war should Clinton have begun? You don't mean invade Baghdad do you? After all, shrub's Daddy and Cheney both laid out why THEY did not invade Baghdad and depose Saddam.
You know what? They were pretty good forecasters. Too bad Cheney got greedy and wanted a way to make a lot of money for Halliburton and shrub doesn't read books.

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#951456 --- 01/06/09 11:05 PM Re: Obama to include accountability in economic pl [Re: Retired Soldier]
Samuel Offline
Senior Member

Registered: 02/07/08
Posts: 4495
Loc: Potter, NY
Originally Posted By: Retired Soldier
It is too bad you are not in Washington sharing your expertise with the other economists, including a Nobel Laurate who say that this is the worst crisis since the Great Depression and getting worse.
Which war should Clinton have begun? You don't mean invade Baghdad do you? After all, shrub's Daddy and Cheney both laid out why THEY did not invade Baghdad and depose Saddam.
You know what? They were pretty good forecasters. Too bad Cheney got greedy and wanted a way to make a lot of money for Halliburton and shrub doesn't read books.


Your a true democrat even if your not registered as one. The world and the US economy will be just fine. It has gone through depressions and recessions and bounced back every time. I put my money where my mouth is and just bought a lot of stocks and will buy more for the next year. I am sure Cheney started a war just to profit from Halliburtun. He's the blame for it all. The financial crisis started from over rated stocks, and a wizard like arrangement where mortgages are bought up and backed by worthless stocks. You can thank the federal regulators for that, and it started way before Bush and Cheney. Both Presidents have their faults.

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#951463 --- 01/06/09 11:13 PM Re: Obama to include accountability in economic pl [Re: Samuel]
Retired Soldier Offline
Silver Member

Registered: 12/23/05
Posts: 12945
Loc: Rochester, NY
I will be buying stocks this year as well. That does not mean that the economy is not in deep trouble. There isn't any responsible, knowledgeable individual who thinks this will pass without the government getting involved.
Even your president asked for a bailout for the financial folks and agreed to a loan for the car companies.

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#951466 --- 01/06/09 11:18 PM Re: Obama to include accountability in economic pl [Re: Retired Soldier]
Mountain Man Offline
Senior Member

Registered: 10/27/07
Posts: 2432
Loc: out there
Obama is a comedy of contrary notions. You'll see.
_________________________
Some people never go crazy, What truly horrible lives they must live--Charles Bukowski

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#951468 --- 01/06/09 11:23 PM Re: Obama to include accountability in economic pl [Re: Retired Soldier]
Samuel Offline
Senior Member

Registered: 02/07/08
Posts: 4495
Loc: Potter, NY
Originally Posted By: Retired Soldier
I will be buying stocks this year as well. That does not mean that the economy is not in deep trouble. There isn't any responsible, knowledgeable individual who thinks this will pass without the government getting involved.
Even your president asked for a bailout for the financial folks and agreed to a loan for the car companies.


You mean that if you tried and tried you could not find one person who believes that we can get out of the economic trouble without more China money? Who says I agreed with the first bailout? I say the problem IS fixed. The home values dropped down to where they belonged all along, and no more mortgages to people who don't have the ability to pay the bank for what they bought. The 50% drop in gas prices is stimulus enough.

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#951475 --- 01/06/09 11:27 PM Re: Obama to include accountability in economic pl [Re: Samuel]
Retired Soldier Offline
Silver Member

Registered: 12/23/05
Posts: 12945
Loc: Rochester, NY
You'll forgive me if I take the advice of scholars and economists over yours? Your profile is a little thin. What do you do or who do you know that gives you all this insight that no one else has?

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#951481 --- 01/06/09 11:40 PM Re: Obama to include accountability in economic pl [Re: Retired Soldier]
Samuel Offline
Senior Member

Registered: 02/07/08
Posts: 4495
Loc: Potter, NY
Originally Posted By: Retired Soldier
You'll forgive me if I take the advice of scholars and economists over yours? Your profile is a little thin. What do you do or who do you know that gives you all this insight that no one else has?


I am a retired soldier. ;\) Who said you had to listen to me? However you can't pick and choose news clips to help bolster a democratic view. I don't always agree with the republicans or George Bush. I do believe Obama can do some good and I'll be the first to say so. But he is one man. Congress runs the country. (Very poorly) You will have time for a lengthy response complete with foot notes as I dis-assemble my cheep Chineese laptop (Dell) to replace the keyboard.

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#951536 --- 01/07/09 01:02 AM Re: Obama to include accountability in economic pl [Re: Samuel]
HarleyBobT Offline
Senior Member

Registered: 08/22/08
Posts: 5106
Loc: Walloon Freedom Fighter
Please not you to... ahahh
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Kristin Davis for NY State Governor,a hard working girl and the hottest candidate NY has ever seen.

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