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TARP Cash To Be Used For More Gov’t Jobs

From faithful believers at the Associated Press:

Obama: Jobs plan will ‘jump-start’ hiring

By Philip Elliott And Andrew Taylor, Associated Press Writers

ALLENTOWN, Pa. – Even as he trumpeted a slowdown in the nation’s job losses Friday, President Barack Obama put finishing touches on a proposal he’ll unveil next week to "jump-start" business hiring across America.

In a speech from Washington on Tuesday, Obama plans to send Congress an initial list of ideas he supports for a new jobs bill. Among the ideas he will likely endorse is the expansion of a program that gives people cash incentives to fix up their homes with energy-saving materials, two senior administration officials said.

Obama also is leaning toward new incentives, either through the tax code or some other means, for small businesses that hire new workers and new spending for the construction of roads, bridges and other infrastructure, said the officials, who spoke on condition of anonymity because the package, and Obama’s speech, are still being crafted and could change through the weekend and beyond.

The president is open to a federal infusion of money to cash-strapped state and local governments, considered among the quickest and most effective — though expensive — ways to stem layoffs. But officials stressed the president likely won’t mention in his speech every job-stimulating idea he will eventually support.

"We need to grow jobs and get America back to work as quickly as we can," Obama said Friday at an event at Lehigh Carbon Community College. "On Tuesday, I’m going to speak in greater detail about the ideas I’ll be sending to Congress to help jump-start private sector hiring and get Americans back to work." …

After talks with Treasury Secretary Timothy Geithner and other administration officials, congressional Democrats are eying up to $70 billion in unused borrowing authority from last year’s $700 billion Wall Street bailout for jobs-related legislation, House Democratic aides said.

Democrats say the Troubled Assets Relief Program money would pay for any jobs bill. But the move is largely cosmetic since tapping the bailout money would require issuing billions of dollars in new federal debt. The White House had hoped to lower deficit projections by not using the full $700 billion in TARP authority approved during last year’s economic meltdown.

Gosh, we didn’t see this coming.

Among the ideas he will likely endorse is the expansion of a program that gives people cash incentives to fix up their homes with energy-saving materials…

Oh, that will help. (The SEIU, who will perform this work in most public buildings.)

Obama also is leaning toward new incentives, either through the tax code or some other means, for small businesses that hire new workers…

The highest figure ever mentioned is $3,000 per hire. Which wouldn’t even cover the cost of the time it takes to fill out the paperwork.

[A]nd new spending for the construction of roads, bridges and other infrastructure…

You mean like the $700 billion stimulus was supposed to do. And didn’t?

The president is open to a federal infusion of money to cash-strapped state and local governments, considered among the quickest and most effective — though expensive — ways to stem layoffs.

That this is the only plan that has a chance of coming to to fruition. Because it will put money in the pockets of Mr. Obama’s constituents.

Those on welfare, and those who work in the public sector in union jobs. (Which is a lot like being on welfare.)

Democrats say the Troubled Assets Relief Program money would pay for any jobs bill.

Remember, the argument at the time was that this TARP money would be eventually paid back by the financial institutions it was slated to go to. Indeed, we were told that the taxpayers would eventually make a profit.

Our Democrat Congressmen (and too many Republicans) are such liars and thieves.

This article was posted by Steve on Friday, December 4th, 2009. Comments are currently closed.

9 Responses to “TARP Cash To Be Used For More Gov’t Jobs”

  1. Liberals Demise says:

    “God, I feel so dirty. This ain’t gonna wash off……is it?”

    We just got punked by our government!!

  2. proreason says:

    Millions more jobs saved or created !!!!

    At this rate, everybody in the country will have a saved or created job in just a few short months !!!!

    Happy days are here again

  3. Rusty Shackleford says:

    As Charlie Brown says so often:

    *sigh*

    • eaglewingz08 says:

      Don’t tar republican and conservative congress representatives and senators with ‘they’re ALL liars and thieves.’ Yes most democraps are liars and thieves, but not most republicans in Congress.

  4. GetBackJack says:

    Simple Solution to job growth.

    Radically slash federal taxation at every level, every field of commercial activity and in every area of income and transaction.

    1. The federal coffers will quickly fill to overflowing, and
    2. Job creation will rise like a tumor on steroids.

    Because … well, ya’ll know the reason why.

    Dear eaglewingz08 – I respectfully disagree, amigo. As my pal, the chair of Constitutional Law at a major USA university rants in his emails to me … “every member of Congress has violated their Oath of Office to protect and defend the Constitution by not requiring Barack Obama to prove his natural born citizen status. It is unquestionably grounds for removing them forthwith from office.”

    The Oath requires elected legislators to defend the Constitution against enemies foreign and domestic. I refer you to three items out of thousands I hold our legislators accountable for …

    1. The abrogation of our national currency, debauching our currency of wealth, into monetized debts.
    2. The taxation system that arose uniquely in support of that debauchment.
    3. That was corrupted further into commercialism via “The entire taxing and monetary systems are hereby placed under the U.C.C. (Uniform Commercial Code).”
    — The Federal Tax Lien Act of 1966

    You had proud claim to your own money as a birthright as a citizen. Today, you do not. Your birthright was free of tax on personal income. Today, you pay more tax than any serf ever did, because our money was corrupted from representing wealth to representing debt. Your birthright as a citizen was certainty of protection of private property with all our Law aimed at protecting equity. Today, you have no rights in property. Don’t pay property taxes and find out who really owns your ‘property’.

    The game faces of “Democrat” and “Republican” are chimera. There is only one party and that’s the Party of Power. It fields two divisions to do political battle to keep us amused and distracted.

    While every Democrat is a spawn of Satan, every Republican is also dirty.

    Because no Republican stands up and shouts about what is written here. The corruption of our Constitution.

    Well, except Ron Paul and James Traficant. Paul is shouted down as merely an obscure crank while Traficant got framed and slammed into prison. Both display naked anti-Semitism, so …

    I stand by my analysis that to be in Congress is to give Due Disclosure of who you really are.

  5. proreason says:

    You could be right eaglewing.

    There might be an honest person in Congress. Perhaps even two.

    Did you ever wonder how it is that every single member of congress is wealthy?

    Joe Biden was fond of saying that he was the poorest person in the Senate. So poor that he was only able to afford a 6,000 square foot masion on 13 wooded lakeshore acres in Delaware. Which he bought for about $500,000 dollars in the mid-90’s. Boy is he ever a great negotiator, heh?

    These people are corrupt to the bone street thugs who have held up our country and deserve the same treatment as high-school drop-outs who kill 7-eleven clerks with Saturday Night specials.

    They should all fry.

  6. U NO HOO says:

    Larry Kudlow is speaking strong on WABC 770, hope you are listening.

  7. GetBackJack says:

    Pro … c’mon over and have some BBQ with us Saturday night.

    You’re my kind of people.

  8. bill says:

    Government jobs have this funny quirk, the money runs out.


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