My Obama Inspired Blog

While I was reading some of the news online today I just happened to come across this article:

I.R.S. Plans a Deduction for Madoff Victims

Why is it that those rich people who got screwed over by a scam artist get a tax deduction and I don’t? Those people took a risk gambling in the stock market and were guaranteed high interest returns on hundreds of thousands of dollars, and in some cases, millions of dollars.  They gambled their money for crying out loud.

My husband and I have lost almost 50% of our 401k because of the crooks on Wallstreet and in the government.  We didn’t gamble or risk our money.  We put our money in his employer sponsored savings plan.  We don’t or didn’t have 100’s of thousands of dollars in there..but we were certainly trying to work towards that.  So, why is it they get a tax break for being stupid and not doing their due diligence - but - we the normal every day Americans who lost money due to no fault of our own don’t get the same tax break?

I really think that President Obama should rethink this position - assuming he even knows about it.  Isn’t Tim Geithner in control of the I.R.S.?  Is it possible many of these people are his friends and he’s trying to smooth them over like he did with those guys at AIG?

I guess another question I have is why didn’t I hear about this on the evening news last night?  Why is it that I have to just happen across it to learn about this?

I urge everyone to call their senators and congresspeople and urge them to not allow this tax break to the rich unless they plan on giving it to us as well for the losses we incurred in our retirement accounts.

Yesterday President Obama announced that the economy does not appear to be in nearly as bad a shape as they originally thought.  The DOW was back up several hundred points again this week - it was up every day and did better this week than it has since November of last year.

Several banks have been announcing they don’t need the government bailout now.  Hmmm…perhaps Obama’s plans and his stimulus package actually are working?  Gee, how are those neo-cons going to explain that?  We all know they will find something else to take the credit for it rather than giving the responsibility to Obama and his team.

You go there Mr. President!  Keep up the great job.

Thank you,

Sarah

Every time I read something new about Obama opening up more of the Bush files, it brings a smile to my face just knowing it drives those “other” guys crazy.  I found this story today -

Obama orders review of Bush legal maneuvers

Last week Obama released all the details concerning the torture at GITMO and we learned that there were over 90 videotaped interrogations that were destroyed. This latest report details how Obama is having some high level executive branch officials review all of Bush’s signing statements that he used to get around laws and all signing orders will be brought for review by Eric Holder.

I’m sure there will be a lot more news coming out about these signing statements that I am absolutely sure will prove that Bush circumvented the constitution.  I’m sure there are some neo-cons out there right now quivering and shaking with anger.  Obama is living up to his promise of transparency in government.  This is a much refreshing change compared to the iron-fisted rule of BusHitler.

Thanks,

Sarah

Is there anybody else out there that reads the Huffington Post?  I find that to be a great resource and always has some really great articles.  I came across one today written by David Sirota titled Polls Show Big Majority Trust Obama - Fox News & Bill Kristol Say America Doesn’t Trust Obama .

Wow that’s a really long title - but - it does get the point across.  Essentially, it is a great piece about the hypocrisy of the right.  He so appropriately points out that the Wall Street Journal published an article showing that by far Americans trust Obama to do the right thing and that 87% of the population believes that Obama inherited this mess from Bush - and that he is not to blame for the continued downturn in the economy - but - on that very same day, both Fox News and Kristol try to say that America has no trust in Obama as is evidenced by the way the stock market is tanking.

So - which is it?  Do the American people trust Obama or not?  I would say the polls are correct.  As one of my commentors so appropriately pointed out in a previous discussion - don’t pay attention to the markets.  It is not a good indicator of the economy as a whole.  It is more of an indicator of the rich elite that can afford to buy stock.  It is not representative of we the working class.

Great post Mr. Sirota - way to call those wingnuts to the carpet.

I heard today that almost $30 Billion from the stimulus package is being released this week to go to “select” states to start on this shovel-ready construction projects.  The report said that up to 150,000 jobs will be created as a result.  Personally, I think that is really great news.

One thing that I might have to agree with those “other” guys is that it probably is not enough.  Considering that the stimulus package was $787 Billion - $30 Billion for infrastructure doesn’t really seem like a lot.  Not only that, considering that there are now almost 7 million unemployed in this country, 150,000 really won’t make much of a dent.  Don’t get me wrong - when I put this in real numbers - $30,000,000,000.00 - that is a whole lot of money.  But, I have to wonder why it is only going to “select” states.  Shouldn’t this money be going to ALL of the states and employ more people?

I commend President Obama for getting this out there as quickly as possible.  They say this is being released 8 days ahead of schedule.  Just awesome.  But, like I said previously - I don’t think that is enough.  There should have been a lot more included for infrastructure.  Maybe they could have done away with some of those other frivolous projects like saving the marshland mouse in San Francisco or buying golf carts for the politicians.  I don’t see how those two projects will stimulate the economy.

This is a great start for Obama.  I’m hoping they can go back and re-allocate that money and divert it in to more projects like these shovel-ready construction jobs.

What are your thoughts?  Am I wrong on this?  I almost feel kinda bad for appearing to be negative.  I’m not though.  I think in this case I’m being a pragmatic American hoping that the money actually goes to stimulating projects.

Thanks,

Sarah