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Pres. Obama, here is a respectful suggestion on explaining the stimulus

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OHdem10 Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Feb-09-09 05:58 PM
Original message
Pres. Obama, here is a respectful suggestion on explaining the stimulus
I pick up the MSM, we are not getting the basis of stimulus and why
it is urgent and important.

Paul Volker, former Head Federal Reserve, begins with this empahasis.

This is not a direct quote but very close.

He begins with explaining we are in a World Economic Crisis and
as a former Super Power Economically, we must act.

Then he brings it to US, explaining that the Finacial System is in
a credit crisis. They SIMPLY DO NOT HAVE THE CAPITAL to make loans.
The first "TarP" given to the Financial Insitutions was enough to
only stablalize the Banks Wall Street etc. THEY DO NOT HAVE THE
CAPITAL TO LEND. The are frozen in place.

He explains that when the Market fails like this there is only
one entity that can do anything to help the economy. Volker
explains that Governments always step in these cases if any
progress is to be made.
Our Party has permitted the GOP to monopolize the airways
with the GOvernment cannot help. The Government is the problem.

The Government is answer---where are the Democrats. or do
we have any Democrats???

Now the Stimulus is intended to get the economy on the ground
(people) moving. Volker, Buffet and lots of knowledgeable
economists say it has to be huge. Wall Street and main street
must be both working.

Volker explains that we must have second round to Fincancial Insitutions to provide them capital to come out of their
immobile state and start loaning again.

Get a grip. Get a spine. Conservatism does not have all the
answer. The Democrats have got to stand up and say we believe
in something. J. M. Keynnes (sp?) has guided many smart
Democrats through some bad situations.







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OHdem10 Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Feb-09-09 06:31 PM
Response to Original message
1. Democrats in House and Senate/
Please take to the floor and refute those GOPers who dafre
to say FDRs plan did not work.

FDR only saved saved saved Capitalism and Democracy.
(Quite a feat for any President)
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