Yemen Circling The Drain

Okay, Yemen was already pretty much circling the drain. But now the Yemeni government, that was marginally helping us in the war against al Qaeda and radical Islam, is under pressure. Who knows what manner of government might come to power if the current one falls?

Massive protests erupt in Yemen to demand ouster of president

Around 15,000 protesters took to streets in the Yemeni capital of Sanaa on Thursday, calling for the ouster of President Ali Abdullah Saleh.

“People want to change the regime, want the president to leave, ” protesters uproared with pink belts wrapped around their heads, which symbolized freedom, waving pink flags together in the largest public rallies organized by the opposition parties in four areas in the capital.

The protesters are mainly university students, opposition party members and supporters, as well as some workers and the unemployed, mostly of whom complained about unemployment and poverty.

“We are sending our message today to the president and his government that we demand improving living conditions, combating corruption as well as political reform. We want better future for our children,” a protester from the opposition Islamist Islah party told Xinhua.

See also:
Yemen protesters demand change of government
Now, people’s power sets off tremors in Yemen
Political Unrest Spreads as Yemeni Protesters Rally against Long-time Ruler
Thousands in Yemeni capital protest regime
Thousands of protesters urge Yemeni President Saleh to resign
Thousands march in capital in support of reforms
Thousands of Yemenis demand change in government
Sporadic Protests Continue in Egypt as Protest Movement Spreads to Yemen
Yemen protests: Thousands call on president to leave
Yemen protests: ‘People are fed up with corruption’
Canada urges Yemen to allow ‘freedom of expression’
Yemen president slams Al-Jazeera TV by phone call with Qatar Emir
US backs Yemeni right to protest

Let’s see, the pro-Western governments of Pakistan, Lebanon, Tunisia, Egypt, and now Yemen, have all been toppled or are under extreme pressure from opposition groups looking to overthrow the current regimes. And what’s Obama’s response? He’s throwing them all under the bus by encouraging the opposition protests under the guise of “freedom of expression”. Doesn’t Obama realize that the world could end up with a whole slew of new, anti-Western, Islamic governments? Wouldn’t that be fun?

/Obama is really naive and stupid or he actually approves of the possibility of a bunch of new, anti-Western, Islamic governments, either way, it’s extremely unsettling, remember, Obama didn’t lift a finger to help or utter a peep of support when the mass protests were against the Islamic regime in Iran

How Do You “Invest” When You’re Broke?

Hey Obama, what part of “we don’t have any money” don’t you understand?

CBO: Federal deficit to hit $1.5T this year

Last month’s bipartisan tax cuts and spending deal has deepened the federal deficit dramatically this year, putting the government on track for a nearly $1.5 trillion shortfall — the largest in history — the Congressional Budget Office said Wednesday.

The sobering check on the country’s finances was announced a day after President Obama‘s address to Congress and underscored the country’s tenuous fiscal standing, which could doom many of Mr. Obama‘s initiatives to boost government spending on education, roads and other infrastructure.

The CBO did say the economy appears to be improving, albeit slowly, from a deep recession that drove the unemployment rate to more than 10 percent. The rate is still above 9 percent, despite efforts by Mr. Obama and Congress to pump money into the economy.

“It’s been a slow recovery by the standards of our past. The labor market in particular has been coming back slowly; income has been coming back slowly,” said CBO Director Douglas Elmendorf.

Social Security Will Post Shortfall This Year, CBO Says

Social Security will post a $45 billion shortfall in fiscal 2011 and will pay out more in benefits than it accepts in payroll taxes through at least 2021 without legislative changes, the Congressional Budget office said on Wednesday.

See also:
The Budget and Economic Outlook: Fiscal Years 2011 to 2021
CBO projects record-high $1.5 trillion budget deficit this year
As deficits, debt soar, Obama, Congress fail to confront them
Deficit Outlook Darkens
CBO forecast: frightening fodder for both parties
It’s official: The debt is ballooning. Now can we think clearly?
Social Security to Run Deficits for Foreseeable Future, CBO Says
Social Security fund now seen to be empty by 2037
Social Security to Operate in the Red for the Next 10+ Years: CBO
Social Security to run permanent deficits, says CBO
CBO: Social Security Will Run Permanent Deficits
A Roadmap for America’s Future

I swear, Is Paul Ryan the only adult in Washington? When are these moron politicians going pay attention, grow some spines, and start taking this fiscal crisis seriously. Every day that goes by, we dig ourselves deeper into the national debt hole and it becomes ever so much more difficult and painful to try and climb out of our self inflicted, bottomless deficit pit.

/we’d better just forget about pie in the sky choo choo trains and go straight to the required austerity budget measures

Tunisia Circling The Drain

First the government of Pakistan breaks down, then the Lebanese government, and today, Tunisia’s government. See a pattern here? These are all Muslim countries and the toppled governments were all friendly to the United States.

Tunisians drive leader from power in mass uprising

Protesters enraged over soaring unemployment and corruption drove Tunisian President Zine El Abidine Ben Ali from power Friday after 23 years of iron-fisted rule, an unprecedented popular uprising in a region dominated by strongmen who do not answer to their people.

Tunisians buoyant over Ben Ali’s ouster immediately worried, however, about what’s next: the caretaker leadership of the prime minister who took control, and the role of the army in the transition.

The upheaval took place after weeks of escalating unrest fueled partly by social media and cell phones, as thousands of demonstrators from all walks of life rejected Ben Ali’s promises of change and mobbed the capital of Tunis to demand his ouster in the country’s largest demonstrations in generations.

At least 23 people have been killed in the riots, according to the government, but opposition members put the death toll at more than three times that.

See also:
Tunisia: PM Takes Power Amid Deadly Riots
Exit Ben Ali – but can Tunisia change?
Tension Grips Tunisia’s Capital After Leader Flees
Tunisia in turmoil as President flees from the anger of the dispossessed
Tunisia: President Zine al-Abidine Ben Ali forced out
Constitutional debate after Ben Ali
Arab activists hope Tunisia uprising brings change
Tunisia: a ‘wake-up call’ for Arab leaders
Patrick Cockburn: Troubles like these are brewing all over the Middle East
Al-Qaeda supports the events in Tunisia and Algeria
France did not prepare to welcome Tunisia’s Ben Ali: Foreign Ministry
Montreal eyes possible arrival of ex-Tunisian leader
Obama calls for free and fair Tunisia elections

That’s three governments in three Muslim countries in about as many weeks. How far will this trend spread and what government will be next to fall? It looks like we have a fast paced game of geopolitical dominoes going on here and it’s being played for keeps. And it could end up with Islamic interests being the eventual winners.

/it almost goes without saying that, chances are, the successor governments will be more hostile to the United States and Western interests

Friday Night Bad News Dump

Obama was hoping you wouldn’t notice the new record deficit he set. It’s more than three times as large as the deficit was when Bush left office.

White House predicts record $1.47 trillion deficit this year, 9 percent unemployment next year

New estimates from the White House on Friday predict the budget deficit will reach a record $1.47 trillion this year. The government is borrowing 41 cents of every dollar it spends.

That’s actually a little better than the administration predicted in February.

The new estimates paint a grim unemployment picture as the economy experiences a relatively jobless recovery. The unemployment rate, presently averaging 9.5 percent, would average 9 percent next year under the new estimates.

The Office of Management and Budget report has ominous news for President Barack Obama should he seek re-election in 2012 — a still-high unemployment rate of 8.1 percent. That would be well above normal, which is closer to a rate of 5.5 percent to 6 percent. Private economists don’t think the unemployment rate will drop to those levels until well into this decade.

“The U.S. economy still faces strong headwinds,” the OMB report said. They include tight credit markets, a high inventory of unsold housing and retrenchment by state governments bound by balanced budget mandates. The European debt crisis has also had an impact.

See also:
Mid-Session Review
Budget of the U.S. Government

Federal budget deficit to exceed $1.4 trillion in 2010 and 2011
Forecast for 2011 Deficit Is Raised to $1.4 Trillion
Obama Budget Office Forecasts $1.47 Trillion Deficit This Year
Obama’s budget deficit heading further up
US deficit heads toward record $1.47 trillion
Federal deficit expected to reach record high
OMB: Economic pain will linger
US predicts record budget deficit
U.S. economy faces strong headwinds: White House
U.S. Trims ’10 Deficit Forecast as Economy Faces Headwinds
Republicans pounce on new OMB deficit predictions
Budget 2011: Past Deficits vs. Obama’s Deficits in Pictures

And remember, these record deficit projections are based on rosy White House economic assumptions.

Real GDP is expected to rise by 3.1 percent during the four quarters of 2010 and to increase 4.0 percent in 2011. The growth rate is projected to rise to 4.3 percent in 2012 and 4.2 percent in 2013 as the economy returns closer to its potential output level. Beyond 2013, real GDP growth is projected to moderate, declining gradually to 2.5 percent per year in 2018-2020.

If the U.S. economy falls short of these GDP projections, the now record deficits will become even worse. And you don’t even want to think about what happens if interest rates rise significantly and it costs the U.S. Government even more to borrow these incredibly humongous amounts of money.

/there’s no way that Obama can legitimately blame Bush for this budget mess anymore, although that won’t stop him from trying to revise history

Kryptonite For The Economy

/Michael Ramirez

See also:
Is Obama anti-business?
Obama is Anti-Business
U.S. Business Groups Air Policy Concerns
Chamber of Commerce: Obama Polices are a “General Attack” on Free Enterprise
Obama, Big Business Trade Blame on the Economy
Obama’s stimulus fantasy
Letter: Time to go after Obama for his anti-business policies
Big Business Versus Obama
BIRNBAUM: Obama’s bogus pro-business credentials
Editorial: Obama should listen to business leaders

Who knows more about private sector business and the economy, Obama, who’s never held a real private sector job in his life, or professional business people, who actually create private sector jobs?

/the simple fact is that Obama doesn’t have the cure for this ailing economy, Obama is the disease that’s killing this ailing economy

Happy First Birthday “Stimulus”!

The “stimulus” worked exactly as intended. What, you didn’t think it was supposed to create jobs, did you?

/Michael Ramirez

Why Defend The Failed Stimulus?

Recovery: Is the president right when he says the stimulus kept the U.S. from falling into a depression? No. In fact, too much government tinkering and spending, not too little, has given us the jobless recovery we have now.

Democrats in charge of both the White House and Congress are firing all their guns at once to tout the benefits of the $862 billion stimulus package passed a year ago this week. They’ve even planned a 35-city tour to support it. Their message?

“One year later, it is largely thanks to the recovery act that a second depression is no longer a possibility,” President Obama said Wednesday. The stimulus act has created 2 million jobs, he claimed, predicting 1.5 million more this year from the program.

Is it just a coincidence that the 3.5 million jobs he is claiming is exactly what the White House predicted early last year? We doubt it. But whatever the case, Obama’s claims are false.

Start with this: Stimulus didn’t save us from an economic cataclysm. Obama himself said so back in March, noting that the economy was “not as bad as we think,” and that he was “highly optimistic.” It’s clear he didn’t think we were on the brink of a Depression.

He was right. In an editorial at the time, we pointed to 13 separate economic indicators signaling an imminent economic recovery — with all of them flashing before the stimulus was in place.

We knew at the time that our resilient private economy would climb out of its hole, and that politicians would try to claim credit. That’s why we wrote: “No politician who voted for these job- and growth-killing measures should claim any credit for our eventual rebound.” Following Wednesday’s fact-bending dog-and-pony show, we think that bears repeating.

The claim that stimulus has “created or saved” 2 million jobs is complete fiction. It rests on the obviously false idea that money can be taken from the productive private sector and given to the nonproductive public sector and create a net gain in jobs.

Based on the imaginary existence of a so-called “Keynesian multiplier,” this kind of thinking hypothesizes jobs that don’t really exist. Sadly, when we count actual jobs, the reality is a bit starker: 8.4 million jobs lost since December 2007, the start of the recession. And more than 4 million lost since the start of 2009.

So when Vice President Biden says Americans are “getting their money’s worth” from stimulus, it should be treated as a punch line — not a policy view.

Hey “Gordon Gecko” Obama, why do you need to wreck this country?

/because it’s wreckable, alright!

Obama Pounds 3.8 Trillion More Borrowed Nails In America’s Economic Coffin

We’re quickly nearing the tipping point where the interest payments alone on our debt will swamp our ability to pay them, yet Obama’s stomping the spending accelerator down to the floorboards with a record setting budget proposal, for the second year in a row.

Just wait until interest rates rise and watch how much more the interest on our debt is going to cost as we borrow even more, that is if anyone will still be willing to lend to us.

/Michael Ramirez

Obama to veil $3.8T budget with massive deficits

President Barack Obama is sending Congress a $3.8 trillion budget on Monday that will increase spending in the fight against high unemployment, boost taxes on the wealthy and freeze spending for a number of government programs.

The deficit for this year would surge to a record-breaking $1.6 trillion, according to a congressional official who had access to a White House summary document. That deficit would easily top last year’s then unprecedented $1.41 trillion gap.

The congressional source, who spoke on condition of anonymity before the budget’s official release, said the deficit would remain above $1 trillion in 2011 and would average 4.5 percent of the economy over the next decade, a level that economists consider a threat to long-term economic prosperity.

Budget of the United States Government, Fiscal Year 2011

See also:
Deficit climbs to record under Obama’s budget
Obama budget: Record spending, record deficit
Obama’s 2011 budget underlines depth of US woes
Shadowed by deficits, Obama pitches economic plan
Budget reflects dire realities, Obama says
Obama’s budget illustrates dire fiscal straits
Breaking Down Obama’s Budget
Hard choices to come with fiscal year 2011 budget
Tax Proposals in the 2011 Budget: What’s In It for You?
Obama’s budget: Impact on your taxes
Obama Budget, Jobs Plan Get Early Tests on Hill
Obama’s budget proposal draws rapid fire from legislators

So, in the face of an obviously unsustainable deficit and debt trajectory, why does Obama insist on submitting a budget with record spending and record deficits? Why does he propose a fig leaf of a spending “freeze”, when drastic spending cuts are clearly called for? I think James Clyburn sums up this insane Democrat mindset best.

“We’re not going to save our way out of this recession,” the majority whip added. “We’ve got to spend our way out of this recession, and I think most economists know that.”

Most economists believe that, really? The reality, as proven by history, is that only the private sector can create a sustainable recovery. Massive government deficit spending only creates a temporary boost, while crowding out private investment and adding to the national debt, which, in turn, sparks long term economic pessimism and turmoil. Eventually, this downward spiral will completely collapse in a national default.

/the time to stop the dangerous and reckless economic train wreck that’s looming is now, so vote like your standard of living depends on it, because it does

Read It And Weep For America’s Future

Obama gets bad numbers from Congressional Budget Office

Jobs and the deficits are going to be big themes of President Obama’s big speech tomorrow — and he got some bad numbers on both topics today from the Congressional Budget Office.

Oval colleague Richard Wolf breaks it down for us:

Here’s more bad news on the budget front for President Obama: A new report by the Congressional Budget Office says the nation’s $1.4 trillion deficit is likely to stay in that range for the next two years.

The 2010 deficit should be about $1.35 trillion, and if Obama keeps President Bush’s tax cuts in place and extends other expiring tax breaks, the 2011 deficit would be about the same, the report says. Over the next decade, the nation would rack up another $12 trillion in deficits, thereby doubling the size of the $12 trillion national debt.

“Daunting” and “bleak” were just some of the adjectives used by CBO Director Douglas Elmendorf on Tuesday to describe the 10-year budget picture. Spending is projected to outpace revenue, and the debt would soon be two-thirds the size of the overall economy. By 2020, interest payments on that debt would be more than $700 billion, about four times the size of the current amount.

The report shows the unemployment rate rising slightly above 10% before declining slowly. Not until 2014 would the rate drop back to 5%.

“In sum, the outlook for the federal budget is bleak,” Elmendorf said. “U.S. fiscal policy is on an unsustainable path to an extent that cannot be solved by minor tinkering.”

But don’t worry, it’s Obama to the rescue.

Obama’s federal spending freeze

The White House has been cranking out initiatives daily in an effort to regain the public’s confidence, and on Tuesday, its target was the enormous federal deficit. Aides to President Obama disclosed that his forthcoming budget will call for a three-year freeze on “non-security discretionary funding.” That’s bureaucratese for capping everything but defense, homeland security, veterans, international affairs and entitlements (for example, Medicare and welfare), with no adjustments for inflation. That would result in $250 billion less being spent over the coming decade than currently projected, said Rob Nabors, deputy director of the Office of Management and Budget. Although it’s merely a gesture, it’s a good one that sends the right signals to Congress and the public.

Skeptics were quick to note how little of the budget actually would be affected — about 17% — and how small the savings seem in comparison to the $6 trillion in total deficits expected over the coming decade. And presidential budgets are just proposals; Congress controls the purse strings. It’s hard to say how well received Obama’s latest offering will be, given how few details have been released. The official line is simply that the administration’s budget for fiscal 2010 (which runs from October 2010 through September 2011) will call for cutting some programs and increasing others.

So, in case you’re still confused, the National Debt is projected to double to over $20 trillion in the next ten years and Obama’s answer is to save $250 billion over the next decade. It’s like trying to put out a five alarm fire with a squirt gun, it’s a joke.

Oh, and remember that useless “stimulus” that we borrowed almost a trillion dollars for, the Democrat porkfest that had to be passed immediately to keep the unemployment rate below 8%? Well, four million jobs lost and a 10% unemployment rate later, guess what?

Officials Say Stimulus Bill to Cost $75B More

Last year’s $787 billion economic stimulus bill is going to be even more expensive — $75 billion more.

The new Congressional Budget Office estimate, released Tuesday, provides more ammunition for Republicans who say the stimulus has been long on spending and short on creating promised jobs. The additional cost also eats into the savings forecast from the budget freeze President Barack Obama is expected to propose Wednesday night during his State of the Union address.

Almost half of the additional cost, $34 billion, is because the food stamp program won’t be able to take advantage of lower-than-expected inflation rates and will instead have benefits set by the stimulus bill.

Higher unemployment insurance costs added $21 billion to the bill, and stimulus-subsidized bonds to pay for infrastructure projects have proven more popular than expected with state and local governments.

The $75 billion increase would erase one-third of the $250 billion in 10-year savings that would come from the partial domestic spending freeze being proposed by Obama. The boost in unemployment payments alone would more than erase the $10 billion to $15 billion in first-year savings from such a freeze.

And don’t forget that we borrowed the “stimulus” money so the debt service over time is going to make it cost more.

Read the whole depressing, frightening, and sobering CBO report:

The Budget and Economic Outlook:
Fiscal Years 2010 to 2020

See also:
Bleak Economic Projections as Obama Prepares for State of the Union Address
The CBO’s Economic Outlook Is Bleak
US Congressional Budget Office Chief Sees ‘Bleak’ Outlook
CBO Chief: “The Outlook For The Federal Budget Is Bleak”
Budget Office: The government’s finances on ‘unsustainable path’
CBO: Federal Deficit Projected at $1.35T
The Obama Fisc
Budget sanity
A ‘Bleak’ Budget but Slightly Better
Obama Seeks Partial Three-Year Spending Freeze
Broad range of programs targeted by proposed spending freeze
How much would Obama’s spending freeze trim US deficits? Not a lot.
The “spending freeze” in context
Tepid Reception for Obama Spending Freeze
Obama faces backlash on spending freeze
The Obama Spending Freeze is Simply Not Credible
Spending Freeze Won’t Melt Partisan Divide
Stimulus is now $75 billion more expensive
Stimulus Bill to Cost $75 Billion More Than Expected, CBO Says
Congressional Budget Office says stimulus bill to cost $75 billion more
CBO: Stimulus $75 Bln More Expensive Than Estimated
Stimulus price tag soars as jobless rate rises

/no matter what Obama sys tomorrow night, the State of the Union, is not strong

The First Stimulus Has Been A Total Disaster So Naturally Democrats Plan To Waste Even More Borrowed Money On More Useless Stimulus

Hey, I know, the first “stimulus” isn’t working, so let’s spend more money we don’t have on a second “stimulus”. Nevermind that we haven’t even spent one third of the first trillion dollar “stimulus” yet.

Insanity: doing the same thing over and over again and expecting different results.

/Albert Einstein

STIMULUS WATCH: Unemployment Unchanged by Projects

A federal spending surge of more than $20 billion for roads and bridges in President Barack Obama’s first stimulus has had no effect on local unemployment rates, raising questions about his argument for billions more to address an “urgent need to accelerate job growth.”

An Associated Press analysis of stimulus spending found that it didn’t matter if a lot of money was spent on highways or none at all: Local unemployment rates rose and fell regardless. And the stimulus spending only barely helped the beleaguered construction industry, the analysis showed.

With the nation’s unemployment rate at 10 percent and expected to rise, Obama wants a second stimulus bill from Congress including billions of additional dollars for roads and bridges — projects the president says are “at the heart of our effort to accelerate job growth.”

Transportation Secretary Ray LaHood defended the administration’s recovery program Monday, writing on his blog that “DOT-administered stimulus spending is the only thing propping up the transportation construction industry.”

Road spending would total nearly $28 billion of the Jobs for Main Street Act, a $75 billion second stimulus to help lower the unemployment rate and improve the dismal job market for construction workers. The Senate is expected to consider the House-approved bill this month.

But AP’s analysis, which was reviewed by independent economists at five universities, showed the strategy of pumping transportation money into counties hasn’t affected local unemployment rates so far.

“There seems to me to be very little evidence that it’s making a difference,” said Todd Steen, an economics professor at Hope College in Michigan who reviewed the AP analysis.

And there’s concern about relying on transportation spending a second time.

“My bottom line is, I’d be skeptical about putting too much more money into a second stimulus until we’ve seen broader effects from the first stimulus,” said Aaron Jackson, a Bentley University economist who also reviewed AP’s analysis.

And what if your “stimulus” isn’t creating even a fraction of the jobs you promised? Well, as they say, if you can’t dazzle them with your brilliance, baffle them with your bull[expletive deleted]!

White House Inflates Stimulus Job Creation With Accounting Gimmicks

The Obama administration is changing the way it counts jobs created or saved by stimulus spending in a way that will make the programs look far more successful.

Under the old rules, only jobs that were actually newly created or not lost because of stimulus money were counted. Now the administration plans to count all jobs for projects funded by stimulus money—even if that job already existed and the person was never in danger of losing the job.

The changes were made in a little noticed memo sent to federal agencies by OMB director Peter Orszag, according to a new report from ProPublica.

See also:
More Stimulus? Analysis Finds Funds for Roads, Bridges Has Had No Impact
Stimulus? There’s No Stimulus Here
Where Are The Stimulus Jobs?
U.S. road projects don’t help unemployment
Study: Road projects don’t help unemployment
No Unemployment Impact from Road and Bridge Spending
White House Changes Stimulus Jobs Count
White House changes how stimulus jobs are counted
Farewell “Saved or Created”: Obama Administration Changes the Counting of Stimulus Jobs
Counting jobs
White House panics on jobs
SUBJECT: Updated Guidance on the American Recovery and Reinvestment Act – Data Quality, Non-Reporting Recipients, and Reporting of Job Estimates

/Democrat’s “stimulus”, throwing money in the money hole, what’s the difference?

Obama And The Democrats Never Met A Borrowed Dollar They Couldn’t Squander

Remember the Troubled Asset Relief Program (TARP) that was originally passed to purchase toxic assets from banks but then, in a classic bait and switch, was spent on bailing out troubled banks instead? Well, the good news is that some of the banks, to escape onerous government interference and micromanagement, are actually paying back their TARP funds, with interest, and it looks like the American taxpayer won’t take as big a hit in the shorts as previously thought.

The bad news is that, instead of using the recovered TARP funds to pay down part of our record $12 trillion national debt, as the original legislation required, Obama and the Democrats now want to squander it on a new “stimulus” program. It seems they just can’t help themselves. Of course, once they waste the recovered TARP cash on even more useless Democrat pet projects, the money will be gone forever, the American taxpayer will never see it again and be even deeper in debt.

Bernanke speech: financial stability is returning

It’s welcome news for US taxpayers: The cost of the great bailouts of 2008 is coming in smaller than some forecasters had predicted.

Exhibit A this week is the financial rescue program called TARP – the $700 billion Troubled Asset Relief Fund. The money paid out in loans or investments to banks and other corporations is being paid back faster than expected, the Obama administration says. Although the US Treasury still expects a loss rather than a profit from the program, it now predicts that the 10-year cost will be no more than $141 billion, which would be $200 billion less than the administration predicted as recently as August.

Using TARP funds for job creation: creative or reckless?

President Obama and congressional Democrats haven’t even announced their latest job creation plans, but already they’re stirring controversy with an idea on how to pay for it – by tapping the Treasury’s so-called TARP funds.

The Troubled Asset Relief Program (TARP) was created by Congress 14 months ago to save the financial system from a collapse that threatened the whole economy. Now, as many banks are repaying money that the government had invested, Democrats say the unexpected windfall can be used to finance a jobs bill that may cost $50 billion or more.

But Republican lawmakers argue that the plan still expands the deficit, whether or not TARP is cited as the source of money. They put it this way: Borrowing less on the TARP bailout doesn’t mean the Treasury should then borrowing more for a jobs program.

The spin from both sides regarding the TARP funds could shape the broader debate over a jobs package. Mr. Obama and congressional leaders could try several tactics to boost employment. The possibilities include a new infusion of federal infrastructure spending, additional aid to state and local governments (to reduce planned layoffs), and tax incentives for businesses to hire.

See also:
Obama: Use TARP for job creation
Obama’s Setup
Obama May Use TARP for Jobs
US bank bail-out money could boost jobs, says Obama
Use of Cash From TARP Hits Hurdle
Tarp travels down a hazardous road
US Sen Gregg:Using TARP Cash For Jobs Package Would Be Illegal
TARP makes a profit! Washington immediately blows the profit!
How’s That Trillion Dollars In “Stimulus” Working Out?
Setting Records
You Can’t Stop Them, You Can’t Even Hope To Contain Them
Spending Like A Drunken Sailor On Crack

So far, less than 25% of the original trillion dollar “stimulus” has even been spent and now Obama and the Democrats want to spend another few hundred billion dollars on more “stimulus”? HELLO? What’s wrong with this picture? If their first “stimulus” was so wonderful, why do they need a second “stimulus”?

I’ll tell you why. Their first “stimulus” sucked big time, it’s not doing [expletive deleted] except flushing money down the toilet, and now Obama and the Democrats are panicking because unemployment is at 10% and the 2010 midterm elections are looming in the not so distant future.

/doubling down on their original “stimulus” mistake by squandering even more borrowed money on Democrat pet projects will only exacerbate our national debt and the inflation that’s eventually coming down the road, but don’t expect long term economic reality to stop them, they think they can buy 2010 votes through constituent targeted deficit spending, it’s the Democrat way