Cute title and the new buzzword from the Right……it is being used by McCain, Boehner, Cantor and a wealth of right wing talkers on the airwaves…..
The hundreds of billions of dollars Washington is borrowing to finance this pork-barrel monstrosity will come from our children and grandchildren. This is not “stimulus” – it’s generational theft.
McCain said that the Senate version of the package (which, even after some pruning by Republicans and Democrats, currently stands at $827 billion) would lead to a $1.2 trillion budget deficit, which he said marks only the beginning of a greater downward spiral. “We are going to amass the largest debt in the history of this country and we are going to ask our kids and grandkids to pay for it,” he said.
I find it amazing that they, the right, would be using it since they have, for the last 8 years, saddled our children with trillions in debt for their damn stupid military exercises….but that somehow is different….you will hear….but that is bulls*it!
Anything that stretches the deficit can be called generational theft…..the Dems do NOT have a market cornered on the situation…..all this hyperbole is just that……a game…a sick political game…a game that NO one can win….
The sickening part is the false concern for future generations……if these sanctimonious blow hards really cared about future generations then they would have NO problem saving the environment, strengthen education, fixing health care……but NO!……they had rather spend their time and waste our money playing games……while those insignificant little people (US) try to go about their lives and make a life for their families……
The Dems. well at least most of them, are working hard to try and find a way to control the financial markets so these thieving a/holes cannot bring down another booming economy by their insatiable need for profits and not just profits but rather obscene profits…..
You would imagine that the Repubs would do all they could to protect the Wall Street thieves from any such controls…..and they are….but their is another……
New Democrats! That alliance of centrists democrats……
Bloomberg is reporting on the new financial regulations battle:
“New Dems have promoted strong regulatory reform that institutes trade and price reporting, capital requirements, and margin requirements, all of which puts mandates on these institutions that they don’t like,” Lipman said. “New Dems have been focused on increasing transparency, reducing systemic risk, and preserving the ability for end-users to hedge their risk.”
The battle over derivatives legislation is a test for the Obama administration’s efforts to tighten financial regulation to prevent a repeat of the financial crisis that shook the global economy — a crisis exacerbated by derivatives trading.
Derivatives dealers became concerned that Obama’s plan didn’t adequately define “alternative swap execution facility” and that, in the end, regulators would write rules making them similar to exchanges, people familiar with the lobbying effort said. Over the last two months, the banks pressed to have Frank’s draft allow standardized trades to be executed privately via telephone, as they’ve been traded for decades, as long as they are reported to regulators, the people said.
The coalition sent Congress a letter on Oct. 2 saying that some reform proposals “place an extraordinary burden on end- users of derivatives.” Members also met this week with lawmakers and staff on Capitol Hill.
In the end-users coalition, broker-dealers found a powerful ally. Although the two groups say they didn’t coordinate their lobbying, their interests overlapped and many of the concessions won in the bill for end-users ended up benefiting some of the biggest Wall Street banks whose credit-default swaps exacerbated the financial crisis.
The New Democrats came to the forefront after the crushing defeat of Dems by Reagan and his machine….they decide that they would become a center for the party to rally around….it was these cowards that gave us the NAFTA debacle that help send all those jobs running to the overseas markets ….and now they want to protect the scoundrels that caused the meltdown of the US and world economies…..the truly sad part is that the people while angry at the Wall Street antics will turn a blind eye to the games being played by the big wheels……
You can almost bet that the highwaymen will find a way to help themselves to the benefits coming from Washington and in return will have their guarantee that if they screw up again, the American taxpayer will be glad to help them out of their plight……if this is the way of the future then the Dems are NO better than the Repubs….FINANCIAL COWARDS!
A side note: Since the taxpayer made Goldman-Sachs more stable should not they get the benefits of the profits that were made on their money? Why not demand that this company and any company that took TARP money use their profits not for bonuses but rather mail a check to each tax payer in the system…….you want demand to be created…that would do it……..Just a thought……