Obama's economic tour: Day Three

Will Obama personally step in if he sees Reid and Pelosi getting out of line in trying to to reinsert the spending cut in the deal with the three GOP Senators? Those three amigos are already threatening to bail if even one program they wanted axed gets funded in a final House/Senate compromise.

How far will Obama push Pelosi?

http://www.political-buzz.com/

For the price of this boondoggle, socialist pork act each American taxpayer and small business could have a 7 month tax holiday; no income tax, no SS tax, no Medicare tax, no self-employment tax , no matching employment tax. Think about what your paycheck would be. Imagine you making the choices how to spend the extra cash. The 180B spring stimulus failed. The 345B housing package failed. The 700B WS bailout has failed so far and now we are hearing the need for trillions more. This is obscene debt financed credit spending cannot be sustained and this 800B plus joke is the worst of the lot. Stop the madness. Vote No! This rush, rush, rush push is just the ole' Chicago shuffle, throwing money everywhere and slipping in special agendas, especially to your supporters. Biden was finally right; "is this a joke?" and its on us!

Fromr reading this.The Pandora's Box has opend --- .buttttttttt for who?

Yes indeed Bubba Porter....why the rush...heck 4 months ago the republican candidate said the fundamentals were good. You can't get any more on top of the crisis than that. I'm sure 4 months ago when McBush said that...you were bobble heading right along with him. Great credentials there.

Inky.....wht r u saiing?

O.K., democrats, I have received all kinds of useful, but unsolicited, advice from u over the last year as to where to stick things, what cliffs are good to jump off of, good bending over techniques, befriending cows, and the like. This is another great moment in Education. Unlike my high school Math students, I “hopefully” am not over-stating that I have some marginal ability to “get It”, if there really is something to get.

NY, CA, MA, IL, RI are all great places. That would be to visit. I can only imagine that they do all kinds of wondrous, benevolent things for their fine indigenous citizens. But it looks to me like they are broke. If you have any kind of business, their big cities want more than anything else, to tax you and drive you out of business directly or indirectly. At the least, philosophically they do. But as you are folding up tents, they still have to collect the taxes. Other places - not so flashy, or free with the public money. TX and FL, by contrast, DO have a dominant sense of fiscal responsibility. They have infrastructure, social services, and other revenue dependent operations too, but they have a budget surplus. The surplus in Tx stands at 5 Billion $, American. If you are NOT in TX now, please DON'T find a need to come now. TX and FL would like to have some free $$$ also, but they are not reduced to bare bone beggar status.

So, democrats, here is a question, or two.

- Why are your economic systems perpetually in failure mode, while the lesser Socialist Republics can still somehow endure, despite all of the difficulty that they have to manage through also?

- Life really is unfair, isn’t it

- Which, in the long run, is better - Spending money that you consistently don’t have while “hoping” that the tax base doesn’t dry up versus balancing a damn budget?

- What is going to be different, after the Porkulus-Stimulus money has run its course?

- Should TX, a fundamentally Red State, just go ahead and secede now and export naphthenic lube oils back to the Global Warming but yet somehow still cold states in the Ice Belt? A fair, mark to market price of $2500 a quart for say, Castrol GTX, sounds about right or would that be too low?

Your guitarra playing friend, in the much hated Red State…

Inky, what r u smoking??????

Inky, what r u typing?

Inky, WHY r u typing?

Django, your post makes about as much sense as one from !inky. Everyone knows that states that have oil reserves in them have had VERY healthy budget excesses these last few years (suprisingly under bush's watch), so please do not try and say that they are so fiscally responsible. They are lucky they have the resource in their ground. You look like an ignorant maroon when trying to make the above point.

Django.....I also have recieved many offers from the right to put things in certain places as well as unpatriotic,coward,commy.....I could go on, but your situation is much the same. You aren't alone. It seems as though you want me to generalize why these "liberal" states are failing? These states are located all over the country and each one has its story. I can not paint an answer for you with a broad stroke......

bill r,

You may not believe this, but I actually agree with your answer. I realize that there are a combination of things that have gone badly, and everyone has been impacted in some way. I would think though, that the fine folks who run state and city governments would find a way to recognize that ExxonMobil, Merck, Wal-Mart, General Motors, National Steel, RV Manufactures, COAL Companies, et. ux. DO have some redeeming quality to them. They DO provide employment opportunites, and they Do have some sense and desire operate in an environmentally responsible manner, but they can't just shut down everything that the Left finds even remotely offensive. Mark this day. We kinda sort-of have a small piece of common ground to agree on.

Xcellentform,

The oil value benefit to TX is to the University Permanent Fund that serves the University of Texas and Texas A&M University more than anything else. It really does not provide much of a direct benefit to the state itself outside of that fund, which is essentially an endowment for education at the college level. Maybe you know more about that than I do, but then you would be wrong.

Oil products are no different than manufacturing cars or anything else. Negative product margins mean that on every unit that is sold, you lose money. When crude prices are high and cracking and conversion margins are low, those foul, ugly things that make the refined hydrocarbon products LOSE money, and that happens more than we like to see, and very often over the last 8 years. You have confused Production with Refining. Not the same thing. No Sale.

Why not just say that budget excess are an Act of God. Apparently, no one other than those states that have oil reserves, which are nowhere near what you seem to think, are able to figure out a way to have a surplus.

Thanks for your fine economic, factual analysis. Thanks too, for "ignorant moron". Liberals are so good at this sort of thing. I shall add that to the list.

Django...The sad thing is we probably have quite a good deal more in common....I think you have a conception that all liberals have problems with these companies. There are issues that I have with some....but not to the point of getting rid of these at all. We as a political people certainly generalize each other way too much.

Inky, what r u typing?

Posted by: Xcellentform | February 11, 2009 1:29 PM

Simple-
To make you read and hope THINK not CHANGE-

Django, that was MAROON you moron. And here are some FACTS to back up my statements. Where are yours at? Oh, that's right, your a pug and you have a license that says you don't need any of those pesky facts.

http://www.usnews.com/articles/news/national/2008/02/01/oil-revenues-help-other-states.html

http://www.time.com/time/business/article/0,8599,1867105,00.html

http://www.istockanalyst.com/article/viewiStockNews/articleid/2820921

And yes, commodities are VERY different than manufactured products.

Inky.....I'm begining to think you are talking in code. Are you really a sleeper cell?

Texas, another oil-rich state, has built a $5.7 billion rainy-day fund over the past few years using gas and oil revenues, which usually account for only 3 percent of its total receipts. ~ U.S. News

The oil-and-gas industry accounts for almost 16% of the Texas gross domestic product, double what it was five years ago, and that means any slowing in that sector will have a ripple effect on the state's overall economy. ~ Time
-----------------------------

Excellentform,

Certainly oil and gas revenues are important to Tx, 16% of the GDP as stated above, but Tx has ALWAYS had oil and gas revenues This is not a suddenly new development. Three years ago the state budget surplus was about 9 Billion $, American. It has approached 12 Billion $, American. The point is, Excellentform, it still has to be managed in a fiscally responsible way, and not squandered by a particular brand of politicos. There is still a budgetting process that does NOT provide EVERYONE with EVERYTHING that they have ever "hoped", imagined, or dreamed of. Those folk have to be fought off every two years in Tx.

It is so wonderful that you correctly recognize the general product classification of "commodities". The "commodities" of gasoline, kerosene (aviation fuel), and diesel still have to go through a manufacturing process that we generally call "refining". You don't just find them lying around, ready to be sold off to the high bidder by a bunch of unholy profiteers. Just like automobiles, if the "refining" margin is negative, money will be lost on each and every unit that is produced. It is NOT market-proof. It is NOT recession-proof. I'm sure you knew that though, because I am, after all, just an "ignorant maroon". I stand corrected on that. Maroon is normally a verb or a color. So, I would be an "ignorant verb of some type" or an "ignorant color", the color being similar to a dark red, I suppose. Will be sure to add that to the list. Thanks.

bill r.,

Thanks, I can appreciate that. That is certainly something that I can admit to having done a lot of. My sister, a non-political person, but still committed to the democrat cause, has tried to explain to me that just as I have a very personal perspective and issues to prosecute, she does too, at a much lower level kind of intensity. Other than the standard labels, that I do use, use a lot actually, I really don't get into the name calling though. It has never been my thing. Sister Angelica would probably pay me a visit in the darkest hour of the night if I were to have that as part of my standard repertoire.

In any event, for one day anyway, I can agree with you. Now, as for the rest of the #&*%!!.....

Inky.....I'm begining to think you are talking in code. Are you really a sleeper cell?

Posted by: bill r. | February 11, 2009 4:25 PM

Bill will have to locate my TELEPROMPTER to answer that one.

Bill will have to locate my TELEPROMPTER to answer that one.
Posted by: Inky

Hey, Inky, that's not bad; I'm shocked.

Excellentform,

I know how much you like links. Here is a link for you:
http://www.window.state.tx.us/taxbud/revenue.html

This shows the revenue sources for TX, a fairly backwards state, that I would not have thought someone of your bearing would have any interest in.

I would have correctly guessed that the biggest revenue stream in TX is the Sales Tax. In 1st place, at 24.8%, is the Sales Tax. In sixth place is Natural Gas Production, accounting for 3.1%. In ninth place is Oil Production, accounting for 1.7 %. TX CANNOT afford to mismanage its state budget just because it receives Oil and Gas tax revenues.

There are numerous Houston Chronicle articles on this subject that are misleading, in typical Houston Chronicle style. Incomplete reporting has been their specialty for quite some time now. If you like the Washington Post, you won't have any problems with the Houston Chronicle. Oil and Gas revenues did increase by 72 % and 42 % in 2008, which is a nice and very significant increase, but it is still just 4.8% of the state's total revenue, 4 million $, American, out of 87 million $, American. UT and A&M get 1/4th of this 4 million, automaticly, and you still need a damn budget, if you are serious about operating a damn state.

The hour of guitarras and Latinas is now upon me. Your "ignorant maroon" friend, down in the RED but n-d-Black state, or maybe in Mexico....

Boy I do get a "chuckle" from you lefty liberals, blowing smoke rings.
Inky, your the best! Stay on'em!