McCain – Scott Brown Rally Phoenix

Welcome SonoranAlliance readers!!

Barry Goldwater Jr made a big point that McCains seniority in the Senate gives AZ an important voice, and that we were the only state to have two Senators at that Healthcare PR stunt the WH pulled….Fife mentioned MAC was a big mentor to him early in his career. Given the amount of people MAC has coming in to bat for him and fundraising this soon before the primary (Aug) it looks like MAC will have the nomination sewn up. Can we get a promise he wont vote for cap n trade or amnesty ??

Couple pics now, video manyana, all that I had on me was the old the fuji camera, rest on camcorder…will fix pics up a bit too and repost …

Barry Goldwater Jr John McCain Rally 03052010

Hey!!! whats shakin!!??

11:48 am AZ Time/ 1:48 EST: we are in the first row of bleachers waiting for John McCain and Scott Brown!

yay!

2:00pm EST- Hey I just read on HA that BYRD says YES to reconciliation? the frakker, he is the guy who called the Big Dawg in 94 and said it would be INAPPROPRIATE to use on UHC??? WTF???

frakkers

I am going off live blog so I can woot! at scott brown, will be back!

4:00pm EST: Home again home again jiggity jig. There were a couple hundred folks at the rally. A good crowd for Friday morning a full 6 months before the GOP primary I’d say (August).

Scott Brown was gracious to Mac and waved off the standing O we tried to give him. A humble guy. Very sensible talk on deficit spending and how MAC was against waste and earmarks before it was ‘cool’, lol.

Barry Goldwater Jr and Fyfe Symington former AZ Gov introduced MAC.

MAC talked about the need for strong national security, reminded us we are in two wars and AfPak will be very tough but we must win (would be nice to hear TOTUS say that).

MAC talked about the reconciliation being unacceptable and that it would destroy the Senate. Talked about the 300,000 seniors in AZ on Medicare Advantage who will lose bennies under Obama plan…Encouraged us to call our Reps, said the House is where the next action will be and that the AZ Reps can stop the bill if they want to..promised to fight for AZ JOBS JOBS JOBS and keep us safe and fight the spending spree they are on in DC

Video and pics up later!

PS CNBC Chyron just reported Eric Massa DNY will resign eff TODAY?? WOOT! One less bell to answer…one less vote to count!

March 5, 2010. Tags: , , , , . Economy, Obama Administration, Politics, Popular Culture, Unemployment Statistics. 2 comments.

WH ‘Jobs Forum’ to feature ‘Green’ jobs sector leaders and labor, shockah!

Oh good gawd. Just CUT PAYROLL TAXES!! Just STOP THE HEALTH CARE BILL and Green regulations and taxing like crazy and small business will hire!

What will they do now, force Disney to paint their roofs white? Notice labor and green jobs are the focus here. And like 3 small business owners for good optics. Plus a bunch of academics, all of whom loved Obama in our primaries, like Stiglitz. Lord Help Us.

Politico:

WHITE HOUSE ANNOUNCES JOBS FORUM HEADLINERS — An aide says Thursday’s forum “will have approximately 130 attendees for the jobs forum including small business owners, experts from green jobs sector, business leaders, academics, mayors and representatives from nonprofits.”

CONFIRMED ATTENDEES INCLUDE: Eric Schmidt, Google (MiM here-GOOG-the company has a 30% profit margin and uses more carbon than anyone else on the list but he is Obama’s buddy so there ya go); Randall Stevenson, AT&T; Surya Mohapatra, Qwest ; Frederick Smith, Fed Ex; Brian Roberts, Comcast; Bob Iger, Disney; James McNerney, Boeing; Andrew Livens, Dow; Peter Solmssen, Siemens; Stephanie Burns, Dow Corning;

Phaedra Ellis Lamkins, Green for All; Reed Hundt, Coalition for the Green Bank; Larry Mishel, EPI; Alan Blinder, Princeton; Paul Krugman, Princeton; Joe Stiglitz, Columbia; Bob Greenstein, Center on Budget and Policy Priorities; and Jeffrey Sachs, Columbia.

PLUS SMALL BUSINESS OWNERS, including David Ickert, Air Tractor; Woody Hall, Diversapack; and Rose Wang, Binary Group.

AND Anna Burger, Change to Win; Leo Gerard, United Steel Workers; Joe Hansen, United Food and Commercial Workers; Randi Weingarten, AFT; Mayor Frank Cownie, Des Moines; Mayor Julian Castro, San Antonio; and Mayor Ed Pawlowski, Allentown, Pa.

November 30, 2009. Tags: , , , , , , , , , , , , , , . Economy, Finance, Labor Department, Obama Administration, Politics, Taxes, Unemployment Statistics, Wall St. 1 comment.

Brace for Impact: Team TOTUS comes out for extension of homebuyer tax credit

Update: Marty Feldstein agrees with MiM on the GDP and double dip  (too bad he endorsed Obama and later let himself be used as a tool like Volcker)

Third-quarter growth “was boosted by the various fiscal stimulus policies,” Harvard University professor Martin Feldstein said in an e-mail. “The danger remains of a serious slowdown after this and a possible double dip” of the economy in 2010, he said.

*Montage by Delta1111111

In an apparent  reversal of  sentiment from that expressed by HUD chief Shaun Donovan in his testimony to Congress just weeks ago when he said it was very expensive, the WH is endorsing the extension of the homebuyer tax credit (details at end of post).

IMO this policy reversal, combined with TOTUS’ failure to laud the GDP data today (he merely commented that he is not satisfied as Americans need work) can mean only one thing.

The internal economic projections of the WH team led by Romer rolling stimulus expectations waaaay back last week, are WAY WAY WORSE than expected. They see the double dip coming and are trying to get in front of it with more stimulus spending in an extended homebuyer tax credit which will do what clunkers did,  cannibalize future sales and leave a wider gap in the future with additional deficits.

So MiM’s forecast for artificial GDP bumps in 3Q and 4Q  ’09 may need to be extended into 1Q 2Q 2010 if they are going to keep throwing money at anything that will give a temporary boost to GDP. Of course the coming tax hikes they are building into the system with the deficit they are growing will CRUSH our economy for years to come but that seems to be beyond their timeline, and thus not their concern.

Clearly the goal is political with everything they do, I guess that comes from Rahm. But that being said, I would expect they are playing dice hoping to keep GDP artificially high going into 2010 Congressional mid terms.

Of course since it is not organic GDP growth jobs are not coming with it so I don’t see the payoff in this policy unless they think Americans will look at stock markets and GDP and feel happy despite being unemployed and foreclosed upon? DOW right now, 3:14 pm up 200. It is high on sugar and our economy is a diabetic on dialysis over here! Today is the anniversary of the 29 collapse btw…there was a HUGE rally after that followed by the utter collapse of the economy as a CNBC guest notes now…HA he said sugar high! I said that! I will add this video when CNBC posts it 🙂

Question is, can they pull off this GDP stimulus spending for that long while simultaneously driving down the dollar without a total collapse of our economy from the CRUSHING deficit? We shouldn’t have to even pose that question. This is like giving the car keys to a raging alcoholic after an open bar at their ex’s wedding.

Doubling down on bad medicine.  I am past girding, I am bracing for impact (sadly no Sully at the wheel, we have Pelosi and Reid)..

____________________

Original Post: In an apparent  reversal of  sentiment from that expressed by HUD chief Shaun Donovan in his testimony to Congress just weeks ago when he said it was very expensive, the WH is endorsing the extension of the homebuyer tax credit:

The nation’s top housing official expressed doubt over the need to extend the $8,000 tax credit for first-time home buyers, and said that the Obama administration was reviewing whether the additional cost of extending the credit was worth any benefit in home sales.

Shaun Donovan, the secretary of the Department of Housing and Urban Development, told a Senate hearing on Tuesday that there was “clear evidence” that the tax credit had benefited the housing market. But he said that the “real issue” in considering an extension was whether an extension was worth the cost to the government in lost tax revenue.

The actual cost of the credit won’t be known “until Americans have filed their tax returns,” he said. “And so, we feel it’s very important within the administration that we gather as much data as we possible can in advance of that before we make a final decision.”

This was just 2 weeks ago folks!

Mr. Donovan said that he understood that the impending expiration of the tax credit meant that the administration needed to make a decision soon so that the market could plan accordingly. Mr. Donovan said he didn’t believe a “catastrophic decline” in home sales would result if the tax credit were allowed to expire on Nov. 30, though he said that an expiration could have some “negative implications” for the market….

And today they send out Geithner to say EXTEND THE TAX CREDIT!

Bloomberg:

The Obama administration endorsed plans to extend an $8,000 tax credit for first-time homebuyers, saying it is helping stabilize the nation’s housing market.

The tax break, enacted earlier this year as part of an economic stimulus package, has “brought new families into the housing market and contributed to three consecutive months of rising home prices,” Treasury Secretary Timothy Geithner said today in a statement. The tax break will expire Nov. 30 unless Congress intervenes.

Senate Democrats have announced plans to extend the credit until April 30 while expanding it to include higher-income Americans and some who already own homes.

Senate Finance Committee Chairman Max Baucus said today the new plan would offer a $6,500 credit for homebuyers who have lived in their prior residence for at least five years. Couples earning up to $225,000 and individuals up to $125,000 would qualify for the break, Baucus said. That’s up from the current $75,000 limit for individuals and $150,000 for couples.

“The success of the American economy is closely tied to the success of the housing market – by helping to stabilize the housing market, the homebuyer tax credit has helped to shore up the economy as it begins to recover,” said Baucus. “This would enable an even greater number of potential homebuyers to take the credit.” Millions of renters earn more than $75,000, he said.

Here’s a question for good ole Max who initially balked at this spending: What will happen to all those rental property owners whose tenants you claim will buy houses? What about the people who work for those property owners? Unintended consequences. All the government can do is steal one man’s profit and give it to someone else. They do not CREATE anything. Only private capital CREATES JOBS. My God I sound like Larry Kudlow. My dad is smiling in heaven.

Democrats have been pushing to include the provisions in an unemployment benefits bill, which has been held up by a disagreement with Republicans over other proposed amendments….( read the whole thing).

October 29, 2009. Tags: , , , , , , , , , , , , , , , . Economy, Finance, Foreclosures, Housing, Obama Administration, Politics, Popular Culture, TARP, Taxes, Unemployment Statistics, Wall St. 4 comments.

Steve Wynn rips Obama Stimulus and Economic Policy on Squawk Box

Vodpod videos no longer available.

more about “Steve Wynn rips Obama Stimulus and Ec…“, posted with vodpod

October 23, 2009. Tags: , , , , , , , , , , , . Economy, Finance, Labor Department, Obama Administration, Politics, Taxes, Unemployment Statistics, Wall St. 1 comment.

Steve Wynn on Obama Stimulus and lack of Job Creation…

He CRUSHED Granholm and her pro Admin. happy green talk, as MI slides into an abyss of unemployment..

Courtesy of 2cpus4me

Full roundtable discussion below, Granholm apparently misses the fact that since the Min Wage increase teen UE has hit 52%, IMO when they add on these healthcare fees hiring will stop completely.

I didn’t think we would be the ones living through the proof that Keynsian policy in the face of a collapsed consumer combined with excess government ENTITLEMENT programs is a map to failure, the econOmists who believe it worked always use FDR as proof, but WWII is the event that drove that growth, it was not organic, as we are seeing as we live through Round Deux (later to be called Round D’UH!) under FDR-wannabes Team TOTUS without the war…(technically with A war, but not the will to actually try to WIN a war so it does not give GDP boost from defense spending)

And Zandi may be a nice guy, but he is tied to the Stimulus by his testimony to Congress pushing it and his ‘advice’ to Team TOTUS on it, when he says it is a success he is talking his book, period. We are spending a TRILLION dollars and there is NO JOB GROWTH, that is a FAILURE by any sane measurement of success.

October 12, 2009. Tags: , , , , , , , , . Economy, Finance, Obama Administration, Politics, Taxes, Unemployment Statistics. Comments off.

VA Debate: McDonnell – Deeds

Vodpod videos no longer available.

Politico headline reads ‘Deeds points finger at Washington’ .

BWAAHAAA Remember: ‘Obama’s Long coattails gonna keep a Dem majority’ they said! BWAAAHAA!! More like an anchor baby! Go McDonnell!!

Virginia Democratic gubernatorial nominee Creigh Deeds said in an interview that he was lagging in the polls entering the final weeks of the campaign in part because of voter concerns over his national party’s agenda.

“Frankly, a lot of what’s going on in Washington has made it very tough,” Deeds said in a “Battleground Virginia” interview sponsored by ABC 7/WJLA-TV, POLITICO, Google and YouTube. “We had a very tough August because people were just uncomfortable with the spending; they were uncomfortable with a lot of what was going on, a lot of the noise that was coming out of Washington, D.C.”

As one of two off-year governor’s races — the other is New Jersey — that are being closely watched for signals about the 2010 midterm election landscape, the factors behind Deeds’s struggles to date are being studied closely in both parties….

more about “VA Debate: McDonnell – Deeds “, posted with vodpod

October 6, 2009. Tags: , , , , , , , , , , , , . Economy, Obama Administration, Politics, Unemployment Statistics. 1 comment.

Stiglitz sees risks of ‘big bumps ahead for US economy’ & sustained UE in double digits, suggests a need for stimulus round deux

Our previous posts on Stiglitz here his answer is to spend more, OF COURSE IT IS! But Team TOTUS will hang on every word he says so it is good to know what he is saying.

Joe is talking about the UE rate again today see here.. The headline from that link is he sees ‘big bumps ahead for US economy..embed is disabled 😦

Here he is last week:

Bloomberg:

Exclusive Interview with Columbia University Professor Joseph Stiglitz (Bloomberg News)

October 5, 2009. Tags: , , , , , , , . Economy, Finance, Obama Administration, Politics, Taxes, Unemployment Statistics, Wall St. 1 comment.

Ezra Klein acknowledges ‘the insurance industry is not a particularly profitable industry’…

Word up. I actually agree with something a member of journOlist said.

Ezra Klein, Wapo:

…The insurance industry is not a particularly profitable industry. To be more specific, they’re the 86th most profitable industry as measured by profit margins, with an average margin of 3.3 percent. That’s lower than drug manufacturers (16.5 percent), health information services (9.3 percent), home health care (8.4 percent), medical labs and research (8.2 percent), medical instruments and supplies (6.8 percent), biotech firms (6.7 percent), generic drug manufacturers (6.6 percent), and much else. That’s not to pretend that 3.3 percent is nothing, but it’s hard to see how that’s a primary driver of health-care spending, much less the growth in health-care spending….

But of course, Max Baucus calls for an excise tax on them anyway, one that they will be forced to pass on to we consumers, thereby preventing them from containing premium increases, and thereby hitting the Snowe ‘trigger’ and dumping us all on to the Zeke Emanuel/Liverpool Pathway to Doom.

Doom I tell you!

Washington Wire has a copy of the health-overhaul plan that Sen. Max Baucus presented to the “Gang of Six” bipartisan negotiators over the weekend.

We reported the outlines this morning, but some details struck us as noteworthy. To pay for the plan, there are across-the-board fees not just for health insurers but also for pharmaceutical manufacturers, medical device makers and clinical laboratories. The hits are likely to arouse industry concerns, although companies also have a lot to gain from a health bill that expands coverage to millions of uninsured.

Like other bills, the proposal from Baucus, chairman of the Finance Committee, would require most people to carry health insurance. But it slaps higher penalties on those who refuse, ranging from $750 for the poorest single people to as high as $3,800 a year for families. By contrast, employers wouldn’t be required to provide coverage for employees. They would only have to pay a contribution for employees who get tax credits to buy individual insurance.

Doctors may be irked by some of the payment changes in the Baucus plan. In particular, one measure seeks to give primary-care doctors higher Medicare payments, and funding it by cutting payments to other doctors….

Repeat, hey DC, LEAVE US PEEPS ALONE!

You know, Canada is already Creating jobs, Aussies are doing better as well. Gee wonder why USA is not creating jobs yet? Hmm could it be b/c they didn’t spend 700 BILLION in a stimulus that did not stimulate job creation but instead assured a long term contraction under an unsustainable deficit? See the Aussie CONSUMER is pulling them out of it, which the US consumer would do as well, were DC to HIT THE BRAKES!

…Central bank Governor Glenn Stevens said: “Economic conditions in Australia have been stronger than expected a few months ago, with both consumer spending and exports notable for their resilience. Measures of confidence have recovered a good deal of ground. This suggests that the risk of a severe contraction in the Australian economy has abated. The most likely outcome in the near term is a period of sluggish output, with consumer spending likely to slow somewhat and investment remaining weak. Stronger dwelling activity and public spending will start to provide more support to overall demand soon, and growth is likely to firm into 2010…

Could it be we are not recovering the way Canada and Australia are b/c the loons in DC are acting out textbook examples of what NOT to do in a recession?

ie raising taxes, raising fees, expanding every level of government, enacting layer upon layer of regulation…and in varied ways scaring the consumer and leaving no safe haven in capital markets (except Gold)..

You do not need to be a SOOPERGENIUS to see this, and maybe that is the problem. The smartest folks in the room seem to have an amazing dearth of common sense. I do not think Keynes would have written the stimulus bill ANYTHING like the way they put our spendulus together..and had he seen the size of the deficit and state of consumer balance sheets I am confident he would find a need for incentivizing job creation through TARGETED tax brakes to encourage capital investment and economic expansion…

Cameo courtesy of  DiamondChick

September 10, 2009. Tags: , , , , , , , , , , , , , . Finance, Obama Administration, Politics, Taxes, Unemployment Statistics, Wall St. 2 comments.

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