Wednesday, October 7, 2009

Obama Hits Record Deficit $1.4 Trillion-CBO

Associated Press writer Andrew Taylor pens an article on that the Congressional Budget Office estimates our federal deficit at $1.4 trillion dollars for the fiscal year that ended last week.

From Paul Kanjorski's website:

Barletta Claim: Congress failed to provide the oversight necessary when passing the $700 billion economic rescue plan.

THE TRUTH. Paul Kanjorski believes that the rescue law is part of a comprehensive solution. It will help to stabilize the economy and safeguard the financial security of average Americans. Congress must now pass additional laws, like a new economic rescue that Paul Kanjorski is working to draft, to get our economy back on track.

•Paul Kanjorski worked with his colleagues to significantly alter the initial Treasury plan in order to ensure that it would work as intended, protect taxpayers, limit the financial windfalls of executives at the distressed companies getting help, establish strong oversight watchdogs, provide transparency, and control overall costs.
•As part of a comprehensive response, the House is already working on a new economic recovery bill to help average Americans, and the Speaker has tapped Paul Kanjorski to serve on a task force developing this plan.

How's that economic recovery plan that you claim ownership working for you? You call what you wrote as the truth!!!

Unemployment 9.5% quickly to reach over 10%. Obamanomics failed stimulus plan hasn't created jobs, it's lost them. Thank God the Europeans didn't listen to Obama with a Europorkulus plan of their own. They are already on the road to recovery. A friend is in France right now. He said the exchange rate sucks. No wonder our dollar continues on the decline.

France and Germany actually exited the recession last quarter. The leaders of both nations specifically and publicly rejected Obama's cries for Europorkulus. "It would be irresponsible to chose another policy, which would increase our country's indebtedness without having more infrastructure and increased competitiveness in the end," French Prime Minister Francois Fillon said at the time.

Yes, even the French have been more fiscally responsible in dealing with the recession than the Obama administration and the Democrat directorate in Congress.

And even though "Germany, with its heavy exports dependence, has been particularly badly hit by the global recession," its economy, too has turned the corner. Citizens of Germany should be glad that Chancellor Merkel didn't heed the call to resort to Obamanomics.

Paul Kanjorski- Bad Ideas, Bad Judgment

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