The Booming Economy

Union Pacific is looking to shed 3,150 jobs and possibly more.
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I think it is good of Obama to criticize companies that are squandering taxpayer-funded bailouts.

Companies should be held accountable for the money:

Moving forward, the president said, it would be necessary to pass reforms
ensuring the kind of “oversight, transparency, accountability that’s going to
be required in order for the American people to confidence in what we’re
doing.”

Exactly.
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In more good news, Obama says he is going to keep the estate tax.

If anything, he should increase the estate tax on the wealthiest individuals.

The estate tax is absolutely crucial in this country not only to raise revenue but to prevent an inherited aristocracy. The lack of an aristocratic class in this country is one characteristic distinguishing the United States from so many others despite the best efforts of the GOP right to create one.
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Obama says his new stimulus package is on target.

There is a video of his remarks:


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The latest housing and unemployment figures are far worse than economists anticipated.
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Harley-Davidson plans to cut 1,100 jobs.
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The Booming Economy

There are no roadmaps or how-to manuals when creating the stimulus package, just as our dictator didn't even bother to read anything more complicated than My Pet Goat when he set out to ruin the United States economy.

Does Obama

truly understand how bad the economic situation is in this country, which is far more like the Great Depression than it is recessions the country has had over the past 35 years?

One project Obama could undertake is create a high-speed railway system in this country similar to those in other countries. Having ridden on a couple of high-speed trains when I was in Italy, I can say they are GREAT.

Given the geographical size of this country, one couldn't have high-speed railways everywhere, but certainly they could be done between large cities.

Obama's Economic Stimulus Package

Today Obama pressed for a massive economic stimulus package, which of course the GOP would love to sabotage.

Video:

Visit msnbc.com for Breaking News, World News, and News about the Economy

link

The Booming Economy

Predictably, the WSWS takes a rather dim view of Obama's economic proposals.
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Two more banks have been shut down.
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Something needs to be done to help the U.S. auto industry.

I just get SO pissed these crooks on Wall Street get all kinds of handouts when they should go to jail, while major industries are allowed to go down the tubes.

Fuck Friedmanism.
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The Booming Economy [Updated]

The unemployment rate has shot up to the highest level in 14 years.
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Among other proposals to fix this shithole of an economy, Obama today talked about extending unemployment benefits, which should have no trouble passing both houses of Congress now, let alone have to worry about a presidential veto.

We will have to see if he really acts like a Democrat or is going to act like a neoliberal.

This is the transcript of the press conference.

Here is the video:


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