Obama's Joint Session of Congress Speech

Originally Posted by 1stBlkPres

Thats Right. we are

Originally Posted by djnemo65

Hey Schneed, this article does a pretty good job of at least beginning to chart the funding mechanisms for the President's various proposals. http://www.nytimes.com/2009/02/26/us...budget.html?hp

Originally Posted by Slingin Sammy 33

When our national debt is over $10 Trillion it's not the time for new(or expanded) social programs and bailouts.

U.S. National Debt Clock

Halving the deficit still means the national debt increases by over $ 500B / yr. SS, Medicare and interest on the national debt eat up over 50% of the U.S. budget. If Obama and the Dems want to leave a legacy and truly change the U.S., they need to stop the wasteful spending, overhaul the tax code, overhaul SS & Medicare, pass a balanced budget ammendment, and any tax increases should be used to pay down the national debt.

Before the lefties yell, what about Bush, Bush increased this and left Obama with that, I'm just stating what needs to be done, not placing blame on any party. The Dems have almost complete control of the Gov't. They have the ability to do the right things.

Originally Posted by New York Times 9/30/99

Fannie Mae, the nation's biggest underwriter of home mortgages, has been under increasing pressure from the Clinton Administration to expand mortgage loans among low and moderate income people and felt pressure from stock holders to maintain its phenomenal growth in profits.

In addition, banks, thrift institutions and mortgage companies have been pressing Fannie Mae to help them make more loans to so-called subprime borrowers. These borrowers whose incomes, credit ratings and savings are not good enough to qualify for conventional loans, can only get loans from finance companies that charge much higher interest rates -- anywhere from three to four percentage points higher than conventional loans.

''Fannie Mae has expanded home ownership for millions of families in the 1990's by reducing down payment requirements,'' said Franklin D. Raines, Fannie Mae's chairman and chief executive officer. ''Yet there remain too many borrowers whose credit is just a notch below what our underwriting has required who have been relegated to paying significantly higher mortgage rates in the so-called subprime market.''
...
In moving, even tentatively, into this new area of lending, Fannie Mae is taking on significantly more risk, which may not pose any difficulties during flush economic times. But the government-subsidized corporation may run into trouble in an economic downturn, prompting a government rescue similar to that of the savings and loan industry in the 1980's.

''From the perspective of many people, including me, this is another thrift industry growing up around us,'' said Peter Wallison a resident fellow at the American Enterprise Institute. ''If they fail, the government will have to step up and bail them out the way it stepped up and bailed out the thrift industry.''

Originally Posted by saden1

2004 vs 2009...it doesn't take a genius to figure out how and where savings can be had, we'll see if Obama meets the gonad size required to get the job done.

Originally Posted by CRedskinsRule

one interesting note on those two visuals, the 2004 one has the pie split 2 ways - defense and congress and all the rests shoots off of those 2. the 2009 version has defense still separated out, but where congress was now it is just a huge jumble. not sure why the difference, but it does seem like it tries to makes congress less accountable, in a subtle way. also, again my opinion, the 2004 seems like a just the facts display, vs the 2009 one which seems more political

Originally Posted by saden1

What you're seeing is maturity in visualization approach not politics. Whatever angle you look from the numbers are straight from OMB and speak for themselves.

Originally Posted by saden1

It was kinda corny but liked the line "dropping out of high school [is] not just quitting on yourself, it's quitting on your country."

Originally Posted by dmek25

where do you see the words unpatriotic? the republicans do not have the market cornered on patriotism, in case you didnt know