Obama introduces Social Security

Posted on September 19, 2008 by billmanzi

You knew it was coming. Obama strikes at a sensitive subject in light of the meltdown on Wall Street, the Bush plan, supported by McCain, to privatize Social Security and invest those funds on Wall Street. Has to be considered effective, and will likely be a bludgeon used by Obama during the debates.

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10 Responses to Obama introduces Social Security

  1. Jim says:
    September 19, 2008 at 5:16 am

    Wow, it has sure gotten quite on this blog!! I’m guessing eating a little humble pie only works one way….

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  2. Jules Gordon says:
    September 19, 2008 at 5:46 pm

    Your Honor,

    The stock market closed at 11,388.44. There is no “melt down” The stock market is uncertain but struggles to work its way back up.

    I believe you are praying for a depression, just like the MovOn.org and daily KOS want to happen. You want a November win at the expense of the economy.

    There are certainly problems but NO melt down. There are no lines at the soup kitchens. 94% of everyone who wants a job has one. There are still traffic jams.

    You have moved into moonbat country.

    I know you will point out the government taking on the debit and soothing the market, and you would be right. Now we have to be patient while the markets calm down. The European banks are helping out.

    Your characterizing of the privatization of Social security implying that is is 100% is a lie.(Whopper) It is only a small percentage of the collections.

    Jules

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  3. Jim says:
    September 20, 2008 at 1:42 am

    Jules,
    While I understand you don’t see the irony in another taxpayer funded bailout contributing to a stock market spike over two days (though likely down for the week), I’m wondering where I can get a prescription for those rose colored glasses you wear:

    “As Senator Christopher J. Dodd, Democrat of Connecticut and chairman of the Banking, Housing and Urban Affairs Committee, put it Friday morning on the ABC program “Good Morning America,” the congressional leaders were told “that we’re literally maybe days away from a complete meltdown of our financial system, with all the implications here at home and globally.”

    “

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  4. Jules Gordon says:
    September 20, 2008 at 5:21 am

    Jim,
    Is that the same Chris Dodd that was the beneficiary of the highest contribution from the Fannie May gang @ $165,000 only slightly more than Barack Obama. Dodd also was the recipient of a favorable mortgage deal. Maybe, Jim, that was enough to stick their collective heads in the sand. After all they will blame Republicans.

    Barney Frank has been in charge of the congress group that oversees the finance systems since the 2006 Democratic takeover.

    What did he see, and what did he do? NADA.

    Barney did induce the mortgage industry to lower acceptance standards, the birth of the problem.

    Sorry, Jim, no innocents here.

    Loud enough for you, Jim.

    Jules

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  5. Jim says:
    September 20, 2008 at 2:36 pm

    I’m missing your point on this one Jules, as I never said it was a partisan issue.

    However, as that may be the case with Dodds, you did fail to note that amount was over the past 19 years. Less than $9k/year is hardly a windfall to me, but I suppose when republicans never take money from lobbyists, or God forbid, have lobbyists on their campaign committee, any amount could be perceived as a windfall. However, if by your inference Dodds is dirty, he’s at least acknowledging a problem that you fail to recognize.

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  6. Jules Gordon says:
    September 20, 2008 at 8:33 pm

    Jim,

    If you admit that this is bipartisan created problem, I agree. The top democrats and people like Frank Raines have been in bed with Obama campaign. The leaders of Fanny Mae and his counterpart in the bernie Mac group have both been part of the Obama campaign in various capacity. They became rich to the tune of millions dollars.Barney frank has driven the banks to expand their web to cover “poor people.

    It was the accumulated effects of the forclosed properties that creat the banking melt down.

    Jules

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  7. Jim says:
    September 22, 2008 at 6:58 am

    There, NOW it’s gospel:

    Source: AP

    WASHINGTON (AP) — Republican presidential nominee John McCain, who only a week ago said the economy was fundamentally sound, now says the U.S. financial system is facing a major crisis.

    Speaking Monday on NBC’s “Today” show McCain said, “We are in the most serious crisis since World War II.”

    He also said that despite the ballooning national debt he would not raise taxes if elected president.

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  8. Jim says:
    September 22, 2008 at 11:28 am

    Hmmm, while I realize it’s probably yet ANOTHER liberal newspaper, I couldn’t let this pass:

    “Source: International Herald Tribune

    Senator John McCain’s campaign manager was paid more than $30,000 a month for five years as president of an advocacy group set up by the mortgage giants Fannie Mae and Freddie Mac to defend them against stricter regulations, current and former officials say.

    McCain, the Republican candidate for president, has recently begun campaigning as a critic of the two companies and the lobbying army that helped them evade greater regulation as they began buying riskier mortgages with implicit federal backing. He and his Democratic rival, Senator Barack Obama, have donors and advisers who are tied to the companies.

    But last week the McCain campaign stepped up a running battle of guilt by association when it began broadcasting commercials trying to link Obama directly to the government bailout of the mortgage giants this month by charging that he takes advice from Fannie Mae’s former chief executive, Franklin Raines, an assertion both Raines and the Obama campaign dispute.”

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  9. Jules Gordon says:
    September 22, 2008 at 4:55 pm

    Jim,

    The problem started under Clinton when Janet Reno’s Justice department pressured banks to expand mortgages to a poorer communities (anti-red lining). Barney Farnk added his power. The huge inflow of cash this mortgage sham generated corrupted the banking system as the greed became an epidemic.

    Too much money will always corrupt the system. Case in point the big dig.

    This corruption spreads to the political parties as the managers of the banking system hire lobbyists to maximize their positions.

    Now the chickens have come hom to roost.

    There’s the history of this horrible banking event.

    The economy is still strong.

    Jules

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  10. Jim says:
    September 23, 2008 at 1:11 am

    Thank you John McCain, er Jules. 🙂

    Amnesia is a wonderful thing sometimes, isn’t it? You seem to have forgotten about the six years between Clinton and the barely tenuous democratic control of congress. You remind me of that Alfred E. Neuman caricature asking “What, me worry?”

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