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
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
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.
Record numbers of low-income people and senior citizens who can’t afford to heat their homes are applying for help, say some local agencies that distribute aid and struggle with the recession’s fallout.
“The overwhelming need we have (for heating aid) far surpasses any of our resources,” says Dave Dexheimer of Douglass Community Services in Hannibal, Mo. Read More
UPDATE: 06 Oct
The federal government is launching a multimillion-dollar investment in plastic slides and monkey bars by using federal stimulus funds to build playgrounds nationwide.
Many of the playgrounds are being installed on the latest type of rubberized surfaces, funded by the $787 billion stimulus law.
Many of the playgrounds are being installed by the Army Corps of Engineers at recreation areas, including Tuttle Creek State Park in Manhattan, Kan., where wood chips are being replaced by a rubberized surface for $25,000.
The Air Force Space Command was awarded up to $250,000 to build a Tot-Lot Playground in a family-housing play area at Malmstrom Air Force Base in Montana. Read More
If Obama and the democrat control congress cares about saving energy use and cost, then why don’t they use some of the Stimulus money to provide assistance to help insulate older homes from the outside cold for people who make wages of $50,000 or less. This would create jobs, save energy and keep low-income people and senior citizens from getting sick and using the healthcare system less. It doesn’t take a brain to understand.
From what I have read so far is Obama has given more Stimulus money to his rich campaign supporters than anyone else! Obama spending stimulus money on plastic slides and monkey bars instead of helping seniors save energy and cutting their cost to keep warm. We can read between the lines and see why he doing all this for the military families, he will need their votes come election time, but I don’t think to many military men and women will fall for his trick of buying votes while he lets their parents and grandparents get sick from no heat this winter!