Red State Update on Obama's Stimulus News Conference

Jackie and Dunlap on Obama’s first prime-time news conference. Stimulus pimpin’ and Elkhart bashin’ ensue.

As Geithner rolls out Bailout Plans and Stimulus passes senate, stocks plummet

So much for reviving the economy. No sooner does Obama’s Treasury secretary roll out his plan for bailing out the banks and Obama’s “stimulus plan” passes muster in the Senate; the stock market drops and drops quite hard.

Here are the charts (as of 1:34 PM EST):

Dow Jones:

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New York Stock Exchange:

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The rest of the numbers:

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So much for Stimulus eh?

I think Barry needs to try again… Badly.

(Charts by Think or Swim)

Former Lieutenant Governor of New York says Stimulus contains rationed medicine

This is President Barack Obama’s idea of economic revival?

The former lieutenant governor of New York is warning that the $50 billion that President Obama expects to spend in the next few years on a nationwide digital health records system for every individual easily could, and probably will, result in rationed medical care.

WND recently reported on a little-discussed provision in Obama’s plan that would demand every American submit to a government program for electronic medical records without a choice to opt out, raising alarms for privacy advocates.

Privacy advocates said patients might be startled to discover personal information could be shared electronically with, perhaps, millions of people, including documentation on abortions, mental health problems, patient non-compliance, lawsuits against doctors and sexual problems.

Sue A. Blevins, president of the Institute for Health Freedom, said unless people have the right to decide “if and when” their health information is shared, there is no real privacy.

Now Betsy McCaughey, former lieutenant governor of New York and an adjunct senior fellow at the Hudson Institute, has released a commentary warning about the likelihood of rationed care – or a health care system that simply provides treatment when it determines the cost-benefit ratio for the treatment and the patient meets its guidelines.

Obama plans to spend $50 billion “over five years” to create a system of electronic health records for every person who sees a doctor.

“Tragically, no one from either party is objecting to the health provisions slipped in without discussion,” wrote McCaughey. “These provisions reflect the handiwork of Tom Daschle, until recently the nominee to head the Health and Human Services Department.”

“If the Obama administration’s economic stimulus bill passes … in its current form, seniors in the U.S. will face … rationing. Defenders of the system say that individuals benefit in younger years and sacrifice later.”

Other nations that utilize such programs typically deny costly treatments to patients who are senior citizens, and McCaughey warns that would be the case in the United States, too.

via Stimulus contains rationed medicine —- WorldNetDaily.

If this report is even remotely true; this would be the same thing as what happened in Germany during World War II and to certain extent here in the United States as well. The very idea of rationing medicine to children who need it most, is about the most despicable thing I ever heard.  I think that this would be good time to stand up and call your senators and demand that this provision be removed from the bill.

I will also say this, that if this stimulus bill fails to deliver all the “Pie in the Sky” promises that Obama is say that it will. He will be a one term President. The people will not be lied to, as I blogged about last night, the far left is already angry over the Obama continued use of Bush tactics, when it comes to trials of the terrorists. So, watch what happens with this Stimulus, if it flops, so will Obama’s approval ratings.

Congression Budget Office says the Economic Slump will end mid-2009

This is quite interesting:

The non-partisan Congression Budget Office reports the current economic slump will end sometime around mid-2009.

Keep in mind Obama himself admits any effect he thinks his government expansion will have on the economy won’t take place until 2010 — well after the slump will end anyway.

Between that, and the CBO’s research last week showing Obama plan will cause long-term damage to the economy, and that the economy will bounce back faster without the package, why is the Senate even considering a $1,100,000,000,000.00 Frankenstein’s moster of wealth transfers and fatter government?

It probably has much to do with the fact much of the money lines the pockets of groups that deliver votes to Democrats, and much of that borrowed taxpayer money could even end up in Democrat campaign accounts by way of funneling through labor unions, ACORN and such.

The only thing the package appears to be stimulating are government growth and Democrat vote-delivering mechanisms.

via CBO: Economic slump will end mid-2009 | Libertarian Party.

You can read this for yourself here. (It’s a PDF file, requires Adobe Reader)

So, basically all this money is being wasted for no reason. So typical for Washington D.C.

(Via IPR)

The Road to European Socialism just got a bit shorter

Via the New York Times, it seems that the economic socialist stimulus plan has passed a procedural vote:

Senate Democrats on Monday advanced the $838 billion economic stimulus bill, clearing a major procedural hurdle by a razor thin margin with the help of just three Republicans. A vote on final passage of the bill is expected on Tuesday.

The Senate vote, by 61 to 36, to close debate on the stimulus, symbolized the partisanship that still grips Congress despite President Obama’s call for new cooperation. It also highlighted the rising power of the centrist Republicans who cast the critical votes. Under Senate rules, it takes 60 votes to invoke cloture and usher a bill to a vote.

Those votes, by Senators Susan Collins and Olympia J. Snowe of Maine and Arlen Specter of Pennsylvania, along with the 56 Democrats and two Independents who regularly vote with them, followed a succession of floor speeches by Republicans criticizing the stimulus as a bloated, wasteful spending bill.

But supporters of the measure said that a good, bipartisan effort had been made at drafting a compromise bill.

“I am proud of the bipartisan work that we have done during the last 10 days,” said Ms. Collins, who supplied one of the three crucial Republican votes. “As with any major legislation, this bill is not perfect, but it can go a long way toward creating jobs and addressing the dire economic crisis facing our nation.”

The majority leader, Senator Harry Reid of Nevada, said: “The United States senators from both parties met the seriousness of the economic crisis with an earnest approach to solving this emergency.”

Well, as you can see, the Republican Party, the part that is supposed to be the party of small Government and low taxes, has once again capitulated to “The One.” Remember this come election time.

Communist Leader says "Obama working to nationalize U.S. economy"

Just as I suspected….:

President Obama is “considering” a radical agenda to nationalize the U.S. financial system, the Federal Reserve Bank, and private industries such as energy and other sectors whose future is “problematic” in private hands, claims the leader of the Communist Party USA.

In a major speech focused on Obama titled “Off and running: Opportunity of a lifetime,” CPUSA leader Sam Webb also alleges Obama’s administration is considering turning education, childcare, and health care into “no profit zones;” rerouting investment capital from military infrastructure

to “green economy” projects and public infrastructure; and waging a “full scale” assault on global warming.

“We now have not simply a friend, but a people’s advocate in the White House,” declared Webb at a recent speech in Ohio for People’s Weekly World Communist newspaper.

“An era of progressive change is within reach, no longer an idle dream. Just look at the new lay of the land: a friend of labor and its allies sits in the White House,” Webb proclaimed.

via Communist: Obama working to nationalize U.S. economy — WorldNetDaily.com.

You can bet your sweet royal behind that if this “economic stimulus” fails, the doors will be opened to nationalization of our Banks, Businesses, Oil companies and everything else eventually.  We as Americans must stand up and fight against this sort of tyranny!

A great video

Here Milton Freeman schools Communist liberal asshat Phil Donahue:

Reaction in the Blogsophere has been postive, except for some Communist Liberal Idiot, that just does not get it. (she writes at my hometown paper, which says quite a bit.)

Others: Macsmind, TigerHawk, Dr. Melissa Clouthier, Wizbang, Sister Toldjah, Scared Monkeys

(via Memeorandum)

Quote of the Day

This week President Obama claimed that failure to pass his economic stimulus bill will have catastrophic consequences for the U.S economy. The reality is the catastrophe will be far greater with his plan then without it. If the trends of January and early February of 2009 continue, the rug will be completely pulled out from beneath the U.S. economy, and the full cost of the President’s “economic depressant package” will be apparent to all.

If foreign capital does not continue to pour into Treasuries, interest rates and consumer prices in the U.S. will soar. At that point, we will finally be confronted with the real crises that I have long predicted. When the day of reckoning arrives our policy response will be critical. If we continue on the course our new President has mapped out, the catastrophe will far exceed the scope of any he hoped to avoid.