Obama Needs A Crisis Revive Health Care Reform
September 7, 2009, 1:36 pm
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Obama Needs A Crisis Revive Health Care Reform

Bloomberg News
September 6, 2009
President Barack Obama returns to Washington next week in search of one thing that can revive his health-care overhaul: a sense of crisis.
Facing polls showing a drop in his approval, diminished support from independents, factions within his Democratic Party and a united Republican opposition, Obama must recapture the sense of urgency that led to passage of the economic rescue package in February, analysts said.
“At the moment, except for the people without insurance, we’re not in a health-care crisis,” said Stephen Wayne, a professor of government at Georgetown University in Washington. “You do need a crisis to generate movement in Congress and to help build a consensus.”
Obama speaks to labor leaders on Sept. 7 and to a joint session of Congress on Sept. 9 as he attempts to rebuild support for his top domestic priority, one that affects 17 percent of the economy. Lawmakers, trying to extend coverage to millions of uninsured Americans and rein in costs, are considering mandates on employers to provide coverage, new rules for insurers, and creating a government program to compete with private insurers such as Indianapolis-based WellPoint Inc.
Obama Chief of Staff Rahm Emanuel said the administration made unprecedented health-care progress in eight months.
‘Not There Yet’
“We gave Congress a charge, we gave them broad outlines, which is the reason we are farther along than any of the five presidents that have tried,” Emanuel said in an interview yesterday. “We’re not there yet, and this speech is intended to finish the job.”
Presidential speeches historically do little to move public opinion significantly, said George Edwards, author of “The Strategic President: Persuasion and Opportunity in Presidential Leadership.”
“This is almost like a Hail Mary, because they know that they’re substantially behind and the trajectory is negative for them,” Edwards said.
Unlike the financial crisis he inherited, the health-care debate is of Obama’s making and places a different burden on him, Edwards said.
“The best thing in presidential leadership is to recognize and exploit opportunities,” said Edwards. “The White House overestimated the nature of the opportunity.”
Stimulus Debate
Obama’s economic stimulus was debated as the Dow Jones Industrial Average dropped 18 percent from Nov. 4, 2008, to Feb. 13, when Congress approved the legislation. Unemployment had risen to more than 7 percent.
On the stimulus, Obama was able to say “that unless we do X right now, and X is pretty painful and pretty expensive, there is a serious danger in the next few weeks that the entire financial system will come crashing down,” said Bill Galston, a former official in President Bill Clinton’s administration, now a Brookings Institution scholar in Washington.
Emanuel remarked at the time that a crisis was a terrible thing to waste, and Obama pushed for health-care overhaul and energy legislation along with financial and auto bailouts.
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Government Will Hype Fall Swine Flu Outbreak To Save Obamacare
Infowars
August 17, 2009
Former Congressman and House Majority Leader Dick Armey warns that the government is planning to exploit a hyped swine flu outbreak this fall in order to reinvigorate support behind its failing Obamacare agenda.
Armey is confident that the grass roots backlash against Obamacare will cause the plan to fail, but warns that the government has one last trick up its sleeve which it is preparing to pull in the next few months.
The former House leader told the Financial Times that wavering lawmakers in both parties might be won over by an engineered crisis that the Obama administration is planning to exploit.
“In September or October there will be a hyped up outbreak of the swine flu which they’ll say is as bad as the bubonic plague to scare the bed-wetters to vote for healthcare reform,” said Mr Armey. “That is the only way they can push something on to the American people that the American people don’t want.”
As we reported last week, Georgia Congressman Paul Broun gave a similar warning when he told attendees of a town hall event Tuesday that the Obama administration was planning to use a pandemic or a natural disaster to implement martial law in the United States.
Speaking at the North Georgia Technical College auditorium, Broun said that the “socialistic elite,” as well as Obama, Nancy Pelosi and Senate Majority Leader Harry Reid, were planning to exploit a crisis to create a favorable climate for their stalling political agenda.
“They’re trying to develop an environment where they can take over,” he said. “We’ve seen that historically.”
Health authorities as well as Homeland Security chief Janet Napolitano have been hyping the inevitability of swine flu’s deadlier return this fall ever since it first appeared in April.
Despite the fact that the virus has proven far less potent than the common flu, governments across the world have been preparing to roll out mass vaccination campaigns which are set to begin next month, despite the fact that the shots will contain mercury and squalene and have also been linked with the killer nerve disease Guillain-Barre Syndrome.
US debt now at an astonishing $53 trillion
July 21, 2008, 11:22 am
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US debt now at an astonishing $53 trillion
SF Gate
July 17, 2008
As the Bush administration proposes backstopping mortgage giants Fannie Mae and Freddie Mac with a $300 billion line of credit and Congress contemplates another economic stimulus, the question is who will bail out the government?
“People seem to think the government has money,” said former U.S. Comptroller General David Walker. “The government doesn’t have any money.”
A rare consensus has developed across the political spectrum that the government’s own fiscal affairs are precarious, with an astonishing $53 trillion in long-term liabilities, according to the Government Accountability Office.
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Oil Hit Record $147, Gold $969, Euro $1.59
July 14, 2008, 2:04 pm
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Oil Hit Record $147, Gold $969, Euro $1.59
On Friday Oil hit record of $147.27, Gold $969, Euro $1.5972 against the greenback, Today July 14, 2008 11:31 AM EDT Crude price sinks to $145, Gold $969, Euro 1.5859.
AP
July 12, 2008
Gold prices rose Friday, making their largest advance since first hitting $1,000 earlier this year, after another record crude rally and a tumbling stock market led jittery investors to the safety of hard assets.
Other commodities traded mostly higher, with corn, soybeans, wheat and other agriculture futures rising.
Gold’s rally suggests investors are increasingly concerned about rising inflation as Americans struggle with $4 gasoline and the U.S. dollar continues to lose ground against its main rivals.
After a week of volatile trading in the commodities complex, a myriad of dour economic developments pushed gold prices skyward: Oil soared above $147 for the first time, stocks dove on concerns that mortgage companies Freddie Mac and Fannie Mae might collapse and the dollar tumbled further against the euro.
“All of these things are a pretty good recipe for safe-haven buying into bullion,” said James Steel, analyst with HSBC in New York. “You’re really spoiled for choice on a day like this.”
Gold for August delivery added $18.60 to settle at $960.60 an ounce on the New York Mercantile Exchange, after earlier rising as high as $969.10. That was gold’s highest trading level since first cracking the $1,000 threshold on March 13 after the collapse of Bear Stearns & Co.
Nervousness about the U.S. economy, record energy prices and the falling dollar have helped propel gold 34 percent higher in the past year, but it’s not clear if the current climate is gloomy enough to push gold back into record territory.
“The $1,000 mark accompanied a bank failure the last time so it’s questionable whether the situation now is as severe, but that doesn’t mean it won’t go back to that level,” Steel said.
Other precious metals also traded higher. September silver prices added 50 cents to settle at $18.82 an ounce on the Nymex, while September copper gained 2.15 cents to settle at $3.74 a pound.
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Euro falls one cent vs dollar from day’s highs
Reuters
July 14, 2008
The euro fell over one cent from the day’s highs against the dollar on Monday, after the U.S. Treasury and Federal Reserve launched emergency steps to restore investor confidence in U.S. mortgage lenders Fannie Mae (FNM.N: Quote, Profile, Research) and Freddie Mac.
The euro fell to as low as $1.5866 on trading platform EBS, down from an intraday high of $1.5972.
Jim Rogers: Dollar Doomed, Fed Will Fail
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Dems Prep Another Stimulus Package, Bush May Veto
July 6, 2008, 12:18 pm
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Dems Prep Another Stimulus Package, Bush May Veto
Reuters
July 1, 2008
Democrats in the U.S. Congress are gearing up to pass a second election-year economic stimulus package, but unlike the $152 billion measure that passed in February, they are not counting on getting the support of President George W. Bush.
Leaders in the House of Representatives and Senate are discussing with key committee chairmen the shape of another emergency spending bill that would again aim to spur the economy and help those hurt by the economic slowdown, several congressional aides said on Tuesday.
This comes on the heels of this week’s enactment of increased jobless benefits, another Democratic priority.
Infrastructure projects — road and bridge building and other government-funded construction — top the list, according to those aides. At least $8 billion in funds could be sought just for these projects, although aides said there were no firm cost estimates yet for any portion of the legislation.
Rep. Barney Frank, the Massachusetts Democrat who chairs the House Financial Services Committee, is hoping such a bill also would help deal with some problems related to the unfolding home mortgage crisis, especially if Bush vetoes a broader bill moving through Congress.
“The second stimulus package should include money to the states and cities to buy foreclosed properties,” Frank told Reuters in a telephone interview.
If a second economic stimulus bill advances and it follows the formula of emergency measures enacted this year, the new stimulus would add to already steep deficits that worry fiscal conservatives.
Last week, Senate Majority Leader Harry Reid, a Nevada Democrat, told reporters, “I think that we’re going to come back at a later time and do other things that are extremely important.” He singled out the need for more money for disaster relief, law enforcement and a program that helps low-income families pay their heating and cooling bills.
Reid’s spokesman, Jim Manley, said Reid and House Speaker Nancy Pelosi of California have held several conversations on possible legislation.
“July might be a little quick to pull it off. September seems more likely” following a month-long August recess, said one House aide, who asked not to be identified.
Last January and February, the White House and congressional Republicans displayed rare bipartisanship when they worked to enact a $152 billion plan, mostly tax rebates, to stimulate the economy by trying to boost consumer spending.
In crafting that package, Democrats gave up, at least temporarily, on a series of initiatives they wanted, from more food stamps for the poor to expanded unemployment benefits and government-funded construction projects.
Bush opposed those add-ons, citing cost concerns.
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