Monday, February 9, 2009

Obama Blunders on First Televised News Press Conference

Obama had his first national televised news conference and I was bored out of mind. I was wondering where was the Teleprompter. He did manage to give an adequate, but eloquent prepared speech about the economy. What Obama blundered was from his “off the cuff” question and answer session with reporters. I was extremely annoyed that he can blatantly lie that the stimulus bill is not full of pork and that government spending is the only solution that will help us get out of this rut. I despise this current president for the audacity to say that he inherited eight years of a failed former President Bush tax-cut policy. Please note that in the six years of President Bush term of office shown economic growth. In the last two years lead by a Democrat Majority started a spiral economic collapse. It started with a malicious scandal in the financial sector with the sub-prime mortgage debacle.

To be honest, Obama doesn’t know what is in the stimulus bill. In fact, this is not a stimulus bill at all. Obama failed to mention that this is a supplemental budget bill that the Liberals had been waiting to enact for forty years. This is not going to produce permanent jobs, but instead, temporary work. A stimulus should take effect almost immediately and not a span of several years. Obama can’t say with conviction that this will work, but he wants to give it a try.

Let me summarize what is in this horrible bill.

This bill has something to satisfy Liberal organizations:

$50 million for the National Endowment for the Arts
$380 million in the Senate bill for the Women, Infants and Children program
$300 million for grants to combat violence against women
$2 billion for federal child-care block grants
$6 billion for university building projects
$15 billion for boosting Pell Grant college scholarships
$4 billion for job-training programs, including $1.2 billion for “youths” up to the age of 24
$1 billion for community-development block grants
$4.2 billion for “neighborhood stabilization activities”
$650 million for digital-TV coupons; $90 million to educate “vulnerable populations”

Here is something to satisfy those Republicans that want tax relief:

$15 billion for business-loss carry-backs
$145 billion for “Making Work Pay” tax credits
$83 billion for the earned income credit

We can’t forget the expansion of the Federal Government:
$150 million for the Smithsonian
$34 million to renovate the Department of Commerce headquarters
$500 million for improvement projects for National Institutes of Health facilities
$44 million for repairs to Department of Agriculture headquarters
$350 million for Agriculture Department computers
$88 million to help move the Public Health Service into a new building
$448 million for constructing a new Homeland Security Department headquarters
$600 million to convert the federal auto fleet to hybrids
$450 million for NASA (carve-out for “climate-research missions”)
$600 million for NOAA (carve-out for “climate modeling”)
$1 billion for the Census Bureau

Oh, I forgot to mention redistribution of wealth:

$89 billion for Medicaid
$30 billion for COBRA insurance extension
$36 billion for expanded unemployment benefits
$20 billion for food stamps

Then there are the so-called “pork” Obama claims that are not in the bill:

$4.5 billion for U.S. Army Corps of Engineers
$850 million for Amtrak
$87 million for a polar icebreaking ship
$1.7 billion for the National Park System
$55 million for Historic Preservation Fund
$7.6 billion for “rural community advancement programs”
$150 million for agricultural-commodity purchases
$150 million for “producers of livestock, honeybees, and farm-raised fish”

There are concerns how spending money for renewable waste will create jobs:

$2 billion for renewable-energy research ($400 million for global-warming research)
$2 billion for a “clean coal” power plant in Illinois
$6.2 billion for the Weatherization Assistance Program
$3.5 billion for energy-efficiency and conservation block grants
$3.4 billion for the State Energy Program
$200 million for state and local electric-transport projects
$300 million for energy-efficient-appliance rebate programs
$400 million for hybrid cars for state and local governments
$1 billion for the manufacturing of advanced batteries
$1.5 billion for green-technology loan guarantees
$8 billion for innovative-technology loan-guarantee program
$2.4 billion for carbon-capture demonstration projects
$4.5 billion for electricity grid

My main concern is bailing out States like California and Michigan who can’t get their act together:

$79 billion for State Fiscal Stabilization Fund

So, if I’m correct, we have seen similar scenarios in the past that didn’t work. I can’t understand how borrowing money to pay off debt actually works. Since the Democrats control the Majority, let them own this monstrosity and see themselves choke in their own feces.