14% Lost in First Month of Leftist Power
The DOW Jones average closed at $8,281.22 on January 19, 2009, the night before the Obamanation became an historic reality. A little more than a month later, the DOW continues its free-fall approaching the $7000 mark and nobody knows where the bottom is. But so far, Obama-nomics have cost Americans trillions in new debt and 14% of their savings, in just a month…
If there was an award for bonehead defense reporting it should go to The New York Times for “Military Contractors Await Details of Obama’s Budget.” The opening paragraph includes this howler…”The good news for big military from President Obama’s budget this week was his proposal to increase the basic budget by 4 percent to $534.” If the reporter had bothered to talk to any credible military analyst, he would have learned Obama’s plan will likely be anything but a “real” increase in the budget. Here’s why:
President Obama and top members of his administration appear to be sponsoring hundreds of millions of dollars of earmarks in the 2009 budget that Obama is trying to push through Congress, CQPolitics.com reports.
In the congressional report that accompanies the budget legislation, Obama is listed as a sponsor of a $7.7 million earmark for “Tribally Controlled Post secondary Vocational Institutions.” Obama’s co-sponsors on that earmark include Vice President Joe Biden and Secretary of State Hillary Clinton.
President Obama pledged to fight the addition of pork-barrel earmarks to legislation during the presidential campaign. Last April, for example, Obama released a statement stating: “We can no longer accept a process that doles out earmarks based on a member of Congress’ seniority, rather than the merit of the project.”
House Democrats unveiled a $410 billion spending bill on Monday to keep the government running through the end of the fiscal year, setting up the second political struggle over federal funds in less than a month with Republicans.
Breitbart
