Let me get this straight: You want to get into a posting contest of malapropisms, Obama vs. Bush. You really like to lose, don't you?
http://www.washingtontimes.com/news/2010/nov/25/gms-union-on-road-to-recovery-after-stock-sale/ GM's union recovering after stock sale Taxpayers and investors not as fortunate as UAW General Motors Co.'s recent stock offering was staged to start paying back the government for its $50 billion bailout, but one group made out much better than the taxpayers or other investors: the company's union. Thanks to a generous share of GM stock obtained in the company's 2009 bankruptcy settlement, the United Auto Workers is well on its way to recouping the billions of dollars GM owed it — putting it far ahead of taxpayers who have recouped only about 30 percent of their investment and further still ahead of investors in the old GM who have received nothing. The boon for the union fits the pattern established when the White House pushed GM into bankruptcy and steered it through the courts in a way that consistently put the interests of the union ahead of many suppliers, dealers and investors — stakeholders that ordinarily would have fared as well or better under the bankruptcy laws. "Priority one was serving the interests of the UAW" when the White House's auto task force engineered the bankruptcy, said Glenn Reynolds, an analyst at CreditSights. The stock offering served to show once again how the White House has handsomely rewarded its political allies, he said.
http://blogs.wsj.com/metropolis/2010/11/20/union-drops-health-coverage-for-workers-children/ Union Drops Health Coverage for Workers’ Children One of the largest union-administered health-insurance funds in New York is dropping coverage for the children of more than 30,000 low-wage home attendants, union officials said. The union blamed financial problems it said were caused by the state’s health department and new national health-insurance requirements. The fund is administered by 1199SEIU United Healthcare Workers East, an affiliate of the Service Employees International Union. Union officials said the state compelled the fund to start buying coverage from a third party, which increased premiums by 60%. State health officials denied forcing the union fund to make the switch, saying the fund had been struggling financially even before the switch to third-party coverage. The fund informed its members late last month that their dependents will no longer be covered as of Jan. 1, 2011. Currently about 6,000 children are covered by the benefit fund, some until age 23. The union fund faced a “dramatic shortfall” between what employers contributed to the fund and the premiums charged by its insurance provider, Fidelis Care, according to Mitra Behroozi, executive director of benefit and pension funds for 1199SEIU. The union fund pools contributions from several home-care agencies and then buys insurance from Fidelis. “In addition, new federal health-care reform legislation requires plans with dependent coverage to expand that coverage up to age 26,” Behroozi wrote in a letter to members Oct. 22. “Our limited resources are already stretched as far as possible, and meeting this new requirement would be financially impossible.” Behroozi estimated that the fund faced a $15 million shortfall in 2011 and more in the following years for the coverage of workers’ children.
Hey barfo, Remember when Reagan said, "are you better off now than 4 years ago?" and won? I wouldn't be shocked if Palin was saying the same thing 2 years from now. http://www.bloomberg.com/news/2010-...they-re-worse-off-under-obama-poll-shows.html Most Americans Say They're Worse Off Since Obama Took Office, Poll Shows More than 50 percent of Americans say they are worse off now than they were two years ago when President Barack Obama took office, and two-thirds believe the country is headed in the wrong direction, a Bloomberg National Poll shows. The survey, conducted Dec. 4-7, finds that 51 percent of respondents think their situation has deteriorated, compared with 35 percent who say they’re doing better. The balance isn’t sure. Americans have grown more downbeat about the country’s future in just the last couple of months, the poll shows. The pessimism cuts across political parties and age groups, and is common to both sexes.
[video=youtube;Ll5DXNiBQmc]http://www.youtube.com/watch?v=Ll5DXNiBQmc[/video] LOL at this: [video=youtube;mqaWiI_sM0c]http://www.youtube.com/watch?v=mqaWiI_sM0c&feature=related[/video]
Hey barfo, This time he really means it? http://news.yahoo.com/s/ap/20101222/ap_on_bi_ge/us_obama_economy Obama pledges economic focus during next 2 years – Wed Dec 22, 4:42 pm ET http://articles.cnn.com/2010-01-21/...ck-health-plan-president-obama?_s=PM:POLITICS Obama to focus hard on economy after Democratic loss January 21, 2010|By Ed Henry, CNN Senior White House Correspondent http://www.usatoday.com/money/economy/2009-12-03-obama-jobs_N.htm Obama puts renewed focus on job creation Updated 12/4/2009 11:53 AM
Are you implying that he hasn't focused on the economy? Whether you like the approach or not, many of the major actions so far have been focused on the economy: ARRA (aka the stimulus bill) Bailouts of Chrysler and GM Wall street regulation reform Tax cut extension (aka stimulus #2) Arguably, the health care reform bill has important economic implications as well. barfo
Wolf in sheep's clothing. You point to a pork laden bill that was full of progressive agenda items that had nothing to do with economic stimulus. And you point to two other things that might be reasonable in good economic times. You omit things like increasing CAFE standards that helped put Chrysler and GM in the need for bailouts. http://www.time.com/time/world/article/0,8599,1995113,00.html Will German Austerity Help or Hurt the Global Recovery? http://www.google.com/hostednews/ap...IVl5Tg?docId=7a40a90ed67f407489caa51b189b3f52 German consumer confidence dips from high level BERLIN (AP) — German consumer confidence has slipped slightly from high levels amid expectations that the country's strong economic growth will ease in the coming months, according to a survey published Tuesday. http://www.bloomberg.com/news/2010-...tedly-rises-to-record-on-domestic-demand.html German Business Confidence Unexpectedly Rises to Record on Domestic Demand http://www.bostonherald.com/business/general/view.bg?articleid=1304540&srvc=rss Boston Fed chief: U.S. unemployment to stay above 9% in ’11
Well, now that's a rather interesting argument. So, Obama announcing higher future CAFE standards on May 19, 2009 caused Chrysler and GM to need bailouts? Curious that Chrysler was already in bankruptcy by then, and GM was only 2 weeks from declaring bankruptcy. I guess Mr. Bush must have understood this when he provided the first bailout money in 2008. "Well, Obama is probably going to raise the CAFE, so these auto boys are gonna need some cash". barfo
So there weren't CAFE standards before the bailouts? Why do you think the car companies fought those things all along?
I believe we were discussing Obama's focus on the economy. It's hard for me to see how CAFE standards enacted by previous administrations are relevant to that topic. Because they were run by idiots. barfo
How's that hopey changey thing working for people? Like the ~19% unemployed or underemployed? Or the 28% of people whose homes are underwater? The car makers were making cars people wanted to buy. CAFE standards made them make cars people didn't want to buy as much.
The success of the Japanese car companies suggests that people weren't uninterested in buying smaller, more efficient cars. They just wanted good ones instead of bad ones. Too bad the US companies took decades to figure that out. barfo
