Without a Debt Deal, Obama Can Make the Rich Pay
Polls show that Obama is now down to 40 percent approval. Americans are now understanding that both the Republicans and plutocratic Democrats are at fault for their joblessness and drastically lowered income. Bloomberg Business News reported that American Median Income, or half more and half of families less, is no at the hard to survive level of $43,000. In Oregon, a poor state, $48,000 median income is necessary for necessities only for a family of four. Reagan and Greenspan got the idea of easy debt through credit cards and easily obtained Equity Loans and family and finally coup was the no or very low down payment "loan" to suck Americans in and take away their homes when they could not pay. The way they did this is break up each mortgage in many pieces so they could be combined with others and sold. The bank that owns your home is not your local bank, but mostly Wall Street Banks. They make huge profits on foreclosures because they lose nothing, and just get the enormous fees they charge to bankrupt you.
Jim Kawakami, July 30, 2011, http://jimboguy.blogspot.com
Posted on Jul 29, 2011 By Moshe Adler
What we should be talking about when we talk about the debt ceiling is the proper role and size of government. Instead, we are asking whether the government spends too much on programs that alleviate the pain that is the result of government policies in the first place.
Social Security, Medicare, Medicaid, unemployment insurance and food stamps are all good programs, but all are meant to deal with the consequences of the income inequality that the government makes possible by the laws it passes.
Income security programs make up 65 percent of all government expenses, and from this we are asked to conclude that the government is mainly in the business of serving and taking care of common people. But the most profound actions that the government takes, passing laws that make the rich rich, ostensibly cost no money and, because we play along, enforcing them supposedly has no cost. ... (Pulitzer Prize winning NY Times Economics columnist David Cay Johnston describes this clearly in Free Lunch: How the Wealthiest Americans Enrich Themselves at Government Expense [ and Stick You with the Bill]