You asked for it, America.

randyhaddock:

Krauthammer on Obama’s ‘American Arrogance’ Comment: “In order to gain the adoration of the crowd he denigrated his country in a way that I think is disgraceful.”

You asked for it, America.

In February, Obama signed into law a large tax hike on cigarette consumers. The federal tax on cigarette consumers is jumping from 39 cents per pack to $1.01 per pack — a huge 159 percent increase. If you smoke two packs per day, President Obama has raised your taxes by a $453 annually. Next on the Obama low-income tax hike agenda: global warming taxes of about $80 billion per year, as revealed in the Obama budget, which equals an annual tax boost of $700 for every household in the United States.

Obama’s First Tax Hike Hits the Poor
(via sds)

You asked for it, America.

This itself is a hugely important political development. In essence, the bailout accelerated the decline of regional community lenders by boosting the political power of their giant national competitors.

Which, when you think about it, is insane: What had brought us to the brink of collapse in the first place was this relentless instinct for building ever-larger megacompanies, passing deregulatory measures to gradually feed all the little fish in the sea to an ever-shrinking pool of Bigger Fish. To fix this problem, the government should have slowly liquidated these monster, too-big-to-fail firms and broken them down to smaller, more manageable companies. Instead, federal regulators closed ranks and used an almost completely secret bailout process to double down on the same faulty, merger-happy thinking that got us here in the first place, creating a constellation of megafirms under government control that are even bigger, more unwieldy and more crammed to the gills with systemic risk.

Matt Taibbi, The Big Takeover (via muppetpants)

You asked for it, America.

PhotoAlt

davidkendall:

hilker:

Geithner To Propose Vast Expansion Of U.S. Oversight Of Financial System

but first, a five dollar footlong from subway.

Very nice!  (The joke, not the proposal….the proposal is crazy, and unnecessary — it echoes voices from way back when…..voices that brought us, for instance, the Tennessee Valley Authority, which was supposed to be the federal governments efforts to oversee distribution of power in the Tennessee Valley area, and an answer to local electric companies’ practices of over-charging for power….only the TVA became a huge beaurocratic sinkhole for taxpayers money that, while doing some good work initially, wound up wasting far more money than it saved, and long outlived its usefulness……but once you get a political beaurocracy started, you can’t kill it with wooden stakes and silver bullets……….but that’s a debate for another
day…..

You asked for it, America.

PhotoAlt

billda:

via bowlingalleylawyer:muppetpants:sarahchristine

You asked for it, America.

What Channel?

jeffmiller:

squashed:

Obama is currently giving a press conference where he’s explaining the financial crisis intelligently.

What channel are you watching?  I must be watching the wrong press conference.  In the one I’m watching, the President is claiming that the current emergency requires that Congress give him expanded executive power.  I’m either watching Bush in 2001 or Obama in 2009.  (Or Clinton after Oklahoma City).

I’m tired of Obama justifying his trillion dollar deficits by arguing that he inherited a trillion dollar deficit from the Bush administration.  Prior Bush deficits were considerably smaller (but still too big), and we only had a trillion dollar deficit last year because of bailouts that Obama supported and many Republicans opposed.  Obama and the Democrats own last year’s deficit just as much as Bush does.

You asked for it, America.

Page 1 of 2