Not being able to stomach Obama's sudden interest in jobs, I passed on his speech to Congress and looked up the White House's fact sheet on his proposals. I rearranged them so that it was easier to see who gets what.
The Obama jobs plan:
$78 billion in tax cuts for businesses:
$65 billion cut payroll taxes in half from 6.2% to 3.1% on first $5 million in payrollRead below the fold...
and from 6.2% to 0 on first $50 million in wages for new hires
$5 billion for 100% expensing on new plants and equipment, available to both large and small firms
$8 billion for $4,000 tax credits to hire those unemployed more than 6 months
Mike Whitney declares:
This is Barack Obama’s economy now....
Obama's failure will likely result in political change that will deliver the White House to the GOP in 2012. Then the deficit hawks will control both houses of congress and the White House, and they will slash spending and push the economy into another Great Depression. This is not speculation. This WILL happen. Obama has made sure it will happen by shrugging off the warnings of every competent economist in the country, all of whom have said repeatedly that we needed more stimulus to lower employment, to reduce the output gap, to increase GDP, and to put the economy back on track.
I cribbed the above title from an oped by William Rivers Pitt entitled “So This is Despair.”
“I see a president on his knees, hands outstretched, offering the best ideas and policies liberal governance has ever devised up to the voracious carnivore of GOP opportunism. I see the end of the New Deal, and a far crueler America emerging from the aftermath. I see a Democratic president voiding his bladder on all that he is supposed to uphold.Read below the fold...
According to financial economist and historian Dr. Michael Hudson:
It’s a good cop-bad cop charade. The Republicans are playing the role of the bad cop. Their script says: “You cannot raise taxes on anybody. No progressive income tax, no closing of tax loopholes for special interests, not even prosecutions for tax fraud. And we can get a lot of money back into the economy if we give a tax holiday to the companies and individuals that have been keeping their money offshore. Let’s free the wealthy from taxes to help us recover.’Read below the fold...
I have got to herald Marc Rubin’s (“tom in paine”’s) so deserved, delicious and yet depressing diatribe against the colossal impotence of collective doormat TEAM DEM as Obama continues to amiably and relentlessly dismantle democracy . Un-friggin'-believable.
Rubin launches :
I received an email not too long ago from the Progressive Change Campaign Committee asking me to sign a petition that threatened Obama by telling him that if he sold out on social security and Medicare, they would, in no uncertain terms vote for him anyway.Read below the fold...
U.S. Taxpayers Get 4-Cent “Screw” From Boeing for $71 (177,000% Mark-up) & Other Financial Obscene Shenanigans
Oligarchs, Congress and Obama are shamelessly insisting that good ol’ trickle down economics will bring us recovery. Different year. Same BS.
Two years and waiting waiting waiting out this round of the BS.
Nearly 1 out of 4 Americans are now unemployed but our Washington faux-reps -- really cronies to the fat cats (fat cats, who are, by the way, doing FABULOUSLY) -- want to stay the Reaganomics course. It hasn’t ever worked, won’t now and will never work. Have they never heard of the definition of insanity? Do they think WE have never heard that definition? Read below the fold...
Empathy-challenged (war criminal) Obama is pretending he cares about military suicides.
I waited a few days to write this to see if my intensely bitter reaction to Obama's last week’s press conference would subside. It has not. In fact reading about the pride some progressives feel about Obama’s shamelessly hypocritical grandstanding sickens me even further.
One of the reasons slot machines in Vegas have so much power to keep you engaged is that just when you’re ready to surrender to the reality of your no-win misery a few coins drop down the slot and you unwisely stay engaged rather than cut your losses and leave. Read below the fold...
Barry Grey’s “Obama promotes corporate profits in the name of job creation” is a depressing update on Obama’s recent Durham, North Carolina meeting with his “Jobs and Competitiveness Council.” The money paragraph:
The reality is that corporate America, with the support of the government, is using mass unemployment as a bludgeon to drive down wages, destroy working conditions and force workers to accept poverty wages and sweatshop conditions. The same process is unfolding internationally, as the bourgeoisie utilizes the crisis of its own making to destroy social gains won by the working class over more than a century of struggle.Read below the fold...
Axelrod Destroyed the Democratic Party in Order to Save It -- Destroyed Democracy for Ego and Gamesmanship
Boy, you just can’t make this stuff up.
Weiner exhibiting his “package” via email.
Thank you, Anthony. Exhibit A. That just about sums up what the ruling patriarchy is all about. Power and competition and the biggest “package” whether of a person, a party, a nation or nations. The killer drones, by the way, seem to slide very easily into the abundance of phallic imagery penetrating the public through the addicted-to-titillation, disinforming, amoral media these days.
The alleged molestation by DSK is another one of those awesome, you can’t make these perfect metaphors up, of the IMF’s will to rape Africa, Africa represented by a vulnerable and working class African woman. Read below the fold...