FHA May Require Bailout, Recovery Hypothesis, Second Stimulus

The Federal Housing Administration, which insures mortgages with low down payments, may require a U.S. bailout because it has $54 billion more in losses than it can withstand, a former Fannie Mae executive said.

“It appears destined for a taxpayer bailout in the next 24 to 36 months,”…… Read More

economy

Summers’s Recovery Hypothesis Flawed

Mohamed El-Erian, chief executive officer of Pacific Investment Management Co., said White House adviser Lawrence Summers is wrong to expect the economy to return to pre-crisis strength because consumer spending is unlikely to sustain growth. Read More

Second Stimulus

Democrats’ Offer Economic Relief Proposals. Second Stimulus?

Confronted with big job losses and no sign the U.S. economy is ready to stand on its own, Democrats are working on a growing list of relief efforts, leaving for later how to pay for them, or whether even to bother.

Proposals include extending and perhaps expanding a popular tax credit for first-time home buyers, and creating a new credit for companies that add jobs. Taken together, the proposals look a lot like another economic stimulus package, though congressional leaders don’t want to call it that. Read More

The economic recovery is not happening and Obama has spent the first stimulus money for projects that do not create jobs. Now he has a bigger problem then he did to start with. This mess that he put America in is his and his alone.

LINKS:

(1)    Video: Our Nation’s Decline Was Foretold

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Recession, Citizens on Police Patrol

policeca

With the economic downturn, there’s been a fresh boom across the country in volunteer cadres of citizens taking on some of the routine duties of short-staffed police departments. 

While many communities appreciate the help, friction has surfaced in some locales, with residents using terms like “little Napoleon” and “gung-ho” to complain about the citizen patrollers and their tactics. Read more

What happen to all the police jobs Obama bragged about that he was creating? Here in North Carolina the towns I live near was gave a grant for new police cars, but….don’t those cars need policemen to drive them? Isn’t this what Obama wanted his well equipped army of civilians for? Maybe not so wonder just why he wants to create an army with as good equipment as the military has, and for what purpose?

LINKS:

(1) Left-wing eco-terrorists celebrate radio tower sabotage

Vegas Mayor Demands Apology From Obama

Sin City’s mayor wants President Obama to apologize for saying companies shouldn’t visit Las Vegas on the taxpayer’s dime.

“What’s a better place, as I say, than for them to come here,” Goodman told KLAS-TV. “And to change their mind and to go someplace else and to cancel — and at the suggestion of the president of the United States — that’s outrageous.”

Obama made the remarks Monday during a town hall meeting in Elkhart, Ind., where the president traveled to muster public support for economic stimulus legislation.

“You can’t get corporate jets, you can’t go take a trip to Las Vegas or go down to the Super Bowl on the taxpayer’s dime,” Obama said.

Read More

I will have to agree with Obama on this one, unless that is Obama makes an Apology which he should not!