The following article appeared on my Yahoo page this morning under the title: Obama Officials: Taxes may rise to pay health care. Here is the article in its entirety with my comments in bold....
WASHINGTON – Two of President Barack Obama's economic heavyweights said middle-class taxes might have to go up to pare budget deficits or to pay for the proposed overhaul of the nation's health care system. Well duh, you can only bleed the "rich" until there is nothing left and they cant pay for everything that the Bush/Obama Admins have spent even if you tax them at 100%.
The tough talk from Treasury Secretary Timothy Geithner and National Economic Council Director Lawrence Summers on Sunday capped a week that brought rare good news for the economy: The worst recession in the United States since World War II could be on the verge of ending. Even so, officials appeared willing to extend unemployment benefits.
Geithner and Summers both sidestepped questions on Obama's intentions about taxes. Geithner said the White House was not ready to rule out a tax hike to reduce the federal deficit; Summers said Obama's proposed health care overhaul needs funding from somewhere.
"There is a lot that can happen over time," Summers said, adding that the administration believes "it is never a good idea to absolutely rule things out, no matter what." Meaning, this Administration will do whatever it wants, whenever it wants even if the possibility seems out of the question. Detain without cause. Send in the military against its own citizens. Ban weapons. Declare martial law.
During his presidential campaign, Obama repeatedly pledged "you will not see any of your taxes increase one single dime." But the simple reality remains that his ambitious overhaul of how Americans receive health care — promised without increasing the federal deficit — must be paid for.
"If we want an economy that's going to grow in the future, people have to understand we have to bring those deficits down. And it's going to be difficult, hard for us to do. And the path to that is through health care reform," Geithner said. "We're not at the point yet where we're going to make a judgment about what it's going to take." Means we know we are going to have to tax everyone but we arent at a point where we are going to admit that publicly.
On Friday, a report detailed the economy dipped only slightly in the second quarter of this year — falling at a 1 percent annual pace, better than expected. The government report permitted optimism that the economic downturn is approaching its end. Dont be fooled by the 1% "dip" - "dip" means it went down and back up....its not....and the low number is only because of all the Government spending and Government spending doesnt mean squat....it should be stated that the economy plateaued at 1% due to spending your tax dollars, but once we are done with that, expect to go lower - but you wont ever hear that....
The president cautioned against instant turnaround, though. We know its going to continue to go down, but dont want to tell you that either....
"Well as I've said, I think we maybe are beginning to see the end of the recession but it's still going to be some time before we are seeing companies hiring again, that's usually the last thing that happens," Obama said in an interview with Univision that aired on Sunday. "At least thats what I think because I dont know for sure because I have no experience in private business....I am a community organizer" is what the rest of the quote should read....
"So I think we are still going to have a tough remainder of the year — probably until next year — but, you know, at least what we are seeing — we've pulled back from the possibility of a depression. That's not the danger."
And many analysts think the economy is starting to grow again in the current quarter, setting up a long-awaited recovery.
"Most private forecasters — and let's use their judgment — suggest you're going to see unemployment start to come down maybe beginning in the second half of next year," Geithner said, adding those same economists predict positive growth during the second half of this year. You can always find someone to say what you want them to say and so we are going to use those forecasters. In fact, we are going to set up a new Czar and call it the Fortune Telling Czar and use them for all our financial outlook predictions.
At the same time, Geithner and other administration officials are contemplating how to ask Congress to extend — again — unemployment benefits for the millions of Americans who have lost their jobs in recent months. The proposal drew measured support from Sen. Jim DeMint, R-S.C., as long as the benefits are drawn from the already approved economic stimulus package.
"We need to take care of those who are unemployed, but we also need to make sure they get jobs," he said.
Those jobs, though, are still elusive. Former Federal Reserve Chairman Alan Greenspan said the economy is slowly coming back and that he is "pretty sure we've already seen the bottom."
"Collapse, I think, is now off the table. We were teetering for a while," he said. I bet Alan is saying this as this current crisis can be linked directly to his tenure at the Fed. I bet the last thing he wants is an audit of the Fed and so if he goes out there and says everything is Hunky Dory, maybe he can get people feeling good again and feeling good people dont want an audit - but pissed people do.... Alan, get ready, an audit is coming....
Geithner and Greenspan appeared on ABC's "This Week." Summers appeared on NBC's "Meet the Press" and CBS' "Face the Nation." DeMint was interviewed on "Fox News Sunday." We sent everyone out there we could, even Alan, on all the shows in order to try and get people out there to spend money (which we did with the Clunker nonsense) and feel all warm and fuzzy about an economy which we know is going to crash when China untangles themselves from our dollar....it all depends on how long that takes and not what we do over here.... We are just trying to pass all our massive, oppressive legislation before that happens because when it does, we know we are all going to be thrown out on our collective posteriors.....
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8 comments:
Sure, Obama is merely a shill of the powers that are...but Obama is trying to get us healthcare because probably his own ego is invested toward at least looking as if he's helping the common man. He tends to have at least some empathy for the masses and the working man because of his background.
The deal is we are going to keep paying taxes, regardless. GW cut taxes only for the rich and sunk the entire economy. You either pay now or later.
That Libertarian stuff is fairy tale BS and NOT based in reality.
The common American is far too stupid to realize that their choices are limited to where their taxes go. Our tax dollars will either go to profits for Big Business or actual health care safety net coverage for the common man like the rest of the civilized world enjoys.
But America is not very civilized. Our ruling class will probably keep our money to themselves unless they decide to throw Obama a bone.
They went for him to be the front man puppet rather than the GW type. Americans were ceasing to be fooled and needed a new approach to dupe them.
I have absolutely no doubt that O's ego is at the root of all his actions. He reeks of it... He doesnt get to skate because you want to give him the benefit of the doubt and pour your hatred onto a previous administration or a faceless corporation.
However, if we merge the previous 2 posts with this one, these big pharma companies that are so "evil" - well, they are the ones creating the drugs - the very ones needed to stave off the abhorent affects of rhumatoid arthritis.
After just one evening doing a little research I did discover that in Alberta Canada, biologicals are no longer available. I bet other Canadian Provinces follow suit soon. Canada considers them too expensive and in the UK, they are limited. There is no information regarding Cuba unless I take Michael Moore's SICKO at its word and I just cant do that - need to verify and not take that leftist propaganda machine at his word.
Anyway, my point is that the "civilized world" doesnt have the perfect system. And to pretend they do is the fairytale. They ration care, medicine and will eventually let the old die without a second thought because they are too expensive to treat.
And there wouldnt even be these drugs without the evil companies doing the research. They spend BILLIONS to develop this drug and if you want them to continue to cure things or at least make life better, they need to recoup this money to continue research. If you stifle this research - shame them out of their earned profits, make it to difficult to produce the drugs...well, I hope that you dont get whatever disease that they didnt have the time or inclination to cure because of all the Government BS.
I have no hatred for government, just a certain resigned resentment.
The previous administration was under the same folks that the present is under. It's the same ruling party.
People really need to get that the tiny ruling class doesn't give a damn about us.
I'm not surprised that foreign gov'ts don't want to pay the prices for the biologics. But eventually, they will hopefully force Big Pharma's price down in the future. Gov't such as France, generally have little love for Big Pharma. But almost anybody can be bribed.
I never said that the other civilized universal health plans were perfect. They're just better.
Research Cuba in the British press which is pretty conservative--just not completely bought and sold to big business as the MSM in the U.S.
Profit-based health care that doesn't give a damn about people isn't very good. When you're in a situation as being self employed with a pre-existing condition and trying to get benefits, it's easier to savvy that fact.
Your statement
And there wouldnt even be these drugs without the evil companies doing the research. They spend BILLIONS to develop this drug and if you want them to continue to cure things or at least make life better, they need to recoup this money to continue research.
This is a lie put forth by big Pharma. The gov't can do research. It used to do and fund it and far more effectively than big business which only does anything with profit in mind.
We shouldn't have profit-based research. Drugs that can cure rare diseases and save lives get orphaned if they don't make profit as do alternative medications where big business can't profit. Our health shouldn't be limited by the amount of obscene profits a particular drug can make.
If you stifle this research - shame them out of their earned profits, make it to difficult to produce the drugs...well, I hope that you dont get whatever disease that they didnt have the time or inclination to cure because of all the Government BS.
We already get plenty of diseases that could be treated that they don't have the time or inclination to cure because they won't make the profit.
I agree with you that modern government is BS...but it's a inescapable BS in modern times. We need to stop being sheep and force gov't to work for us instead of big business and ruling class profit.
What they are scared of is what happened when the common man rises up in anger. They expend MUCH energy to misleading and lying to us to keep us in control.
I never believed a single, solitary thing that man said. Nor any of his lackeys, either.
In my Tract The Age of Turbulence: Plea for a New Economic Order, I explain the nature and causes of economic depressions.
A turbulence in fluid mechanic is a chaotic state of a liquid. It Owns Most of the Proprieties of The Liquidity Trap, Origin of The Crash, it is a filled with Random Phenomenon and Discontinuities.
It proves that after the inflation of the Mother of all Asset Price Bubbles the ominous fate of this economy is Keynes' Liquidity Trap.
Its consequences are a new, bigger Crash causing, this time, a real Great Depression II.
That bipolarity of the Market is the problem an person who is irrationally exuberant, as any psychiatrist would tell, is unable to understand that he will necessarily fall in a deep depression. He just doesn't want to hear the warning no matter how many times he had that experience.
What do we do Before The Crash?
Preparing for the Crash, The Age of Turbulence. Proposes a strategy to profit from both the Irrational Exuberance and from the Crash.
Using the yield curve as a predictor that strategy covers Treasuries, Corporate Bonds, Minerals (Oil, Precious Metals and Base Metals.) and Stocks.
Its aim is to profit from both the Asset Price Bubble and Irrational Exuberance and The Crash and Economic Depression that will necessarily ensue.
It tries, and for the time being very profitably, to accomplish Alan Greenspan Mission Impossible:
"That is mission impossible. Indeed, the international financial community has made numerous efforts in recent years to establish such oversight, but none prevented or ameliorated the crisis that began last summer.
Much as we might wish otherwise, policy makers cannot reliably anticipate financial or economic shocks or the consequences of economic imbalances.
Financial crises are characterised by discontinuous breaks in market pricing the timing of which by definition must be unanticipated - if people see them coming, then the markets arbitrage them away."
....
The clear evidence of underpricing of risk did not prod private sector risk management to tighten the reins.
In retrospect, it appears that the most market-savvy managers, although conscious that they were taking extraordinary risks, succumbed to the concern that unless they continued to "get up and dance", as ex-Citigroup CEO Chuck Prince memorably put it, they would irretrievably lose market share.
Instead, they gambled that they could keep adding to their risky positions and still sell them out before the deluge. Most were wrong."
Alan Greenspan
The Age of Turbulence: Adventures in a New World [Economic Order?].
That Strategy Will not Anymore be Available to the General Public as of September 1st, 2009. However the Members of My Networks Will Still Have Access to It & Will be Regularly Updated. Join My Networks Now!
The Yield Curve - Plea for a New Economic Order.
But what do we do After The Crash?
I propose a plausible alternative solution to the Depression: I designed a System that will allow us, when The Crash will come, to get out of Credit Based Free Market Economy, Capitalism, and transfer to my Adjusted Credit Free, Free Market Economy and Abolish the FED:
To participate in our new economy you need to Enter Your €5 in The Cra$h R€gi$t€r. Before The Crash.
I.10.82
"People of the same trade seldom meet together, even for merriment and diversion, but the conversation ends in a conspiracy against the public, or in some contrivance to raise prices.
It is impossible indeed to prevent such meetings, by any law which either could be executed, or would be consistent with liberty and justice.
But though the law cannot hinder people of the same trade from sometimes assembling together, it ought to do nothing to facilitate such assemblies; much less to render them necessary.
I.10.83
A regulation which obliges all those of the same trade in a particular town to enter their names and places of abode in a public register, facilitates such assemblies. It connects individuals who might never otherwise be known to one another, and gives every man of the trade a direction where to find every other man of it.
I.10.84
A regulation which enables those of the same trade to tax themselves in order to provide for their poor, their sick, their widows and orphans, by giving them a common interest to manage, renders such assemblies necessary."
Adam Smith
June 5th, 1723 – July 17tn, 1790
An Inquiry Into the Nature and Causes of the Wealth of Nations.
Inequalities Occasioned by the Policy of Europe.
March 9th, 1776
The Tract Will be Published on September 17tn, 2009. It Will be Withdrawn from the Internet on September 1st, 2009. Buy Now The Tract Now!
You will enjoy my popular articles:
Ron Paul vs. Bernanke.
Ben "Systemic" Bernanke.
The Yield Curve - Plea for a New Economic Order.
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Good that he is helping even a common man..
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