Don’t be misled, look for yourself. Don’t just listen to the -hmm umm yahoos! :

http://en.wikipedia.org/wiki/Barack_Obama#State_legislator.2C_1997.E2.80.932004

OBAMA
Obama was elected to the Illinois Senate in 1996, succeeding State Senator Alice Palmer as Senator from the 13th District, which then spanned Chicago South Side neighborhoods from Hyde Park-Kenwood south to South Shore and west to Chicago Lawn.[26] Once elected, Obama gained bipartisan support for legislation reforming ethics and health care laws.[27] He sponsored a law increasing tax credits for low-income workers, negotiated welfare reform, and promoted increased subsidies for childcare.[28] In 2001, as co-chairman of the bipartisan Joint Committee on Administrative Rules, Obama supported Republican Governor Ryan’s payday loan regulations and predatory mortgage lending regulations aimed at averting home foreclosures,[29] and in 2003, Obama sponsored and led unanimous, bipartisan passage of legislation to monitor racial profiling by requiring police to record the race of drivers they detained and legislation making Illinois the first state to mandate videotaping of homicide interrogations.[28][30]

Obama was reelected to the Illinois Senate in 1998, and again in 2002.[31] In 2000, he lost a Democratic primary run for the U.S. House of Representatives to four-term incumbent Bobby Rush by a margin of two to one.[32][33]

In January 2003, Obama became chairman of the Illinois Senate’s Health and Human Services Committee when Democrats, after a decade in the minority, regained a majority.[34] During his 2004 general election campaign for U.S. Senate, police representatives credited Obama for his active engagement with police organizations in enacting death penalty reforms.[35] Obama resigned from the Illinois Senate in November 2004 following his election to the US Senate.[36]

2004 U.S. Senate campaign

See also: United States Senate election in Illinois, 2004

In mid-2002, Obama began considering a run for the U.S. Senate, enlisting political strategist David Axelrod that fall and formally announcing his candidacy in January 2003.[37] Decisions by Republican incumbent Peter Fitzgerald and his Democratic predecessor Carol Moseley Braun not to contest the race launched wide-open Democratic and Republican primary contests involving fifteen candidates.[38] Obama’s candidacy was boosted by Axelrod’s advertising campaign featuring images of the late Chicago Mayor Harold Washington and an endorsement by the daughter of the late Paul Simon, former U.S. Senator for Illinois.[39] He received over 52% of the vote in the March 2004 primary, emerging 29% ahead of his nearest Democratic rival.[40]

Obama’s expected opponent in the general election, Republican primary winner Jack Ryan, withdrew from the race in June 2004.[41]

In July 2004, Obama wrote and delivered the keynote address at the 2004 Democratic National Convention in Boston, Massachusetts.[42] After describing his maternal grandfather’s experiences as a World War II veteran and a beneficiary of the New Deal’s FHA and G.I. Bill programs, Obama spoke about changing the U.S. government’s economic and social priorities. He questioned the Bush administration’s management of the Iraq War and highlighted America’s obligations to its soldiers. Drawing examples from U.S. history, he criticized heavily partisan views of the electorate and asked Americans to find unity in diversity, saying, “There is not a liberal America and a conservative America; there’s the United States of America.”[43] Broadcasts of the speech by major news organizations launched Obama’s status as a national political figure and boosted his campaign for U.S. Senate.[44]

In August 2004, with less than three months to go before Election Day, Alan Keyes accepted the Illinois Republican Party’s nomination to replace Ryan.[45] A long-time resident of Maryland, Keyes established legal residency in Illinois with the nomination.[46] In the November 2004 general election, Obama received 70% of the vote to Keyes’s 27%, the largest victory margin for a statewide race in Illinois history.[47]

U.S. Senator, 2005–present

Obama was sworn in as a senator on January 4, 2005.[48] Obama was the fifth African American Senator in U.S. history, and the third to have been popularly elected.[49] He is the only Senate member of the Congressional Black Caucus.

Joe Biden has been in the service of the FEDERAL GOVERNMENT in 1972

So 36 years and 12 years for O/B FORTY EIGHT YEARS FEDERAL GOVERNMENT LEVELEXPERIENCE

John McCain since 1982 to present = 26 years FEDERAL GOVERNMENT LEVEL
Sarah Palin , uh, well 2days if you count since her being named by Senator McCain

TOTAL FEDERAL GOVERNMENT LEVEL EXPERIENCE Mc/Pal = 26 years +//- 2 DAYS!

Who has the more experience to lead the country ????

Read the Question TOTAL FEDERAL EXPERIENCE boys and girls

Truth hurts?
Remember what I said about the SHOUTING Yahoo!’s
Oh and FEDERAL LEGISLATIVE BRANCH includes Senators but not Governors or Mayors.

Quit chatting

Inflation is a destructive phenomenon. Germany suffered it destroys the middle class by destroying the value of the cash and savings bonds and other paper instrumente.Na the First World War, a severe deficit in the current account, current account deficit we have in the United States. About 1/3rd inability born of having to pay gold allied with European governments and the recovery of the war. But the rest because of economic mismanagement, and 2/3rd of the current account deficit is made up of German war-related spending. At that time, except for war recovery, and America, the largest creditor in Germany, with financial institutions in the United States, particularly JP Morgan, Jr., and arrange for loans to the Weimar coalition government, in companies and industries. News accounts and since that time indicates that the government of Weimar Germany and the Government of the United States now, was more concerned with avoiding a recession, and reducing unemployment and stimulating business activity than in economy on inflasie.Duitse believed to 1920, such as American economists now believe that a cheaper currency helps to stimulate export activity and industrial production. Germany needs to export raw materials to buy, just as the United States needs now, oil and consumer goods by Asian for sale. At the time, but the United States a net creditor nation. Have a role in Germany, similar to the role of Asian countries including China and Japan to the United States, except that, instead of the export of consumer goods, in 1920 the United States in the export of raw materials, mostly to Germany. The financial companies in the United States in the early 1920s, a belief that big in Germany, and buy German government bonds, and the provision of loans to buy American goods easier. These loans offset the imbalance in the German trade balance, according to the prices of bonds, treasury bonds and the Chinese buy now tekort.Op offset the U.S. current account minimum, and the U.S. dollar from the amount paid by the federal balance sheet by the toxic relationship damaged. Most frightening is the prospect of giving Hank Paulson, the former head of Goldman Sachs, one of the creators main instruments of relationship poison that caused the credit crunch, unlimited discretion in doling out $ 700000000000 in rescue operations, with no possibility of judicial review. This ensures that the money was used in the most efficient way and cronyism. This brings us to the depth of hiperinflasie.Ons can rationally expect that the dollar will be approximately 75% of its value in the meantime lost 2-3 jaar.http: / / seekingalpha.com/article/96723-what-effect-will-hyperinflation-have

James Johnson, one of three people tapped by Mr. Obama recently to oversee the search for his running mate, took at least five real estate loans totaling more than $ 7 million from Countrywide Financial Corp. through an informal program for friends of the company’s CEO, Angelo Mozilo, the Wall Street Journal reported Saturday. The Journal said at least two of the mortgages, among a series of loans made available to people Countrywide officials called “friends of Angelo,” were at rates below market averages, though it is difficult to predict a market rate without access to nonpublic information about a borrower’s credit history and other factors that can reduce interest charges on a loan.

Among the loans to Mr. Johnson, according to the Journal, were a $ 5 million home equity line of credit against a house in Ketchum, Idaho, a 5.25% loan of $ 1.3 million for a home in Palm Desert, Calif., and a 3.875% loan of $ 971,650 for a home in Washington, D.C. The interest rates applied for the first five years of the loans.

“That reeks most high,” a public relations specialist and vocal critic of Mr. Mozilo, Bonnie Russell of Del Mar, Calif., said. “Where’s the ‘change to believe in’ if they’re playing the same old game using the same old players?”

The Dominoes of Default


This infographic by Bill Rapp depicts the most significant and likely economic consequences for America if we default on our debt. See our accompanying report here: www.thirdway.org/publications/395

U.S. default could prompt new recession: study

By Andy Sullivan

WASHINGTON (Reuters) – The United States could plunge back into recession if inaction in Washington forced a debt default, according to a new analysis that arrives as the country reaches the legal limits of its borrowing authority.

Some 640,000 U.S. jobs would vanish, the housing market’s woes would deepen, stocks would fall and lending activity would tighten if the country were unable to pay its bills, according to a report by the centrist think tank Third Way due out on Monday.

The Treasury Department is expected to hit its .3 trillion borrowing limit on Monday, making it unable to access the bond markets again. Lawmakers from both parties say they won’t approve a further increase in borrowing authority without steps to keep debt under control.
But observers do not expect a deal to emerge for several months.

The Treasury Department says it can stave off default until August 2 by drawing on other pots of money to pay its bills.

Treasury officials have warned of "catastrophic" consequences if Congress does not approve a further debt-ceiling increase by then, but have declined to say exactly what would happen.
The Third Way report, based on a survey of existing economic research, spells out the details:

* Treasury bonds would lose their aura of safety, leading to a half-point increase in their interest rates. That would push up the U.S. government borrowing cost once lending activity resumed, leading to a billion increase in annual budget deficits over the short term.

* The higher interest rates would ripple through the economy, causing gross domestic product to decrease by 1 percent and employers to shed 640,000 jobs.

* Banks would curtail lending. Small businesses would have a harder time expanding and credit-card interest rates would rise. Student loans and car loans would become more expensive.

* The S&P 500 stock index would lose 6.3 percent in value over three months, causing retirement portfolios to shrink, the report said, citing research by financial services firm Janney Montgomery Scott.

* The U.S. dollar’s status as the world’s reserve currency could be threatened as investors move cash to Swiss francs, Japanese yen, or Euros. That could boost U.S. exports but raise the cost of consumer goods like gasoline and electronics.

* Home mortgage rates, which are tied to U.S. Treasury rates, would rise. Homebuyers taking out an average mortgage for a new home, currently 1,900, would pay an extra ,738 over the life of the loan, dealing another blow to an already struggling housing market.

"Defaulting on our debt is not an abstract idea that might affect a few institutions on Wall Street; it would harm tens of millions of Americans in profound and lasting ways," the report says.

(Editing by Philip Barbara)

www.reuters.com/article/2011/05/13/us-usa-budget-default-…

Did he actually throw himself under the bus when he stated, “The long term debt that we have accumulated is unsustainable. We can’t keep borrowing from China or borrowing from Other countries, because part of it is we have to pay for—-we have to pay interest on that debt. And that means we are mortgaging our children’s future with more and more debt, but what’s also true is that at some point they’re just going to get tired of buying our debt. And when that happens, we will really have to raise interest rates to be able to borrow, And that will raise interest rates for everybody—on your auto loan, on your mortgage, on–so it will have a dampening effect on the economy.

There is more and I have provided the link as to what Obama stated in his townhall meeting in Rio Rancho, New Mexico.

Do you find this unbelievable?

Player: We are already further in debt in 100 days than the 76 years the Republicans were in control of the spending, and that wasn’t perfect either. We all lose both you and I included.
Beardog: Ther chief economist at macinac.org will also tell you how much worse it is getting. I have an eonomist in my family who does not agree with Obamnomics. Looks like the middle class and the poor will pay. Watch prices and interest rates then say it is wrong.
That was 6 years of Republican control under Bush.

After Obama has HIMSELF ADMITTED long term trends are not sustainable, and that we are out of money?

http://www.bloomberg.com/apps/news?pid=20601087&sid=aJsSb4qtILhg

May 14 (Bloomberg) — President Barack Obama, calling current deficit spending “unsustainable,” warned of skyrocketing interest rates for consumers if the U.S. continues to finance government by borrowing from other countries.

“We can’t keep on just borrowing from China,” Obama said at a town-hall meeting in Rio Rancho, New Mexico, outside Albuquerque. “We have to pay interest on that debt, and that means we are mortgaging our children’s future with more and more debt.”

Holders of U.S. debt will eventually “get tired” of buying it, causing interest rates on everything from auto loans to home mortgages to increase, Obama said. “It will have a dampening effect on our economy.”

http://www.youtube.com/watch?v=rGo83FofDhU – “We’re out of money.” – Barack Obama

So, the spending continues DESPITE these acknowledgements, and yet it is still “stimulating the economy”, or “cleaning up Bush’s mess”, or whatever other lame excuses you guys use, right?
Reality Has, either you’re a troll or you’re the biggest jackass on answers. Did you not see THE ENTIRE QUESTION?

Why would Congress and the President plunge us into further debt AFTER ACKNOWLEDGING what is said in those links?

• bad obama policies
• did obama say he would forgiveness iraq\s debt to usa

Is this the real Henry Paulson & Bush plan?

If you buy stock in somthing you own a part of it, and that means the government owns a part of the Bank’s.

The bank’s were not making money so we gave them more money, and we also bought most of the home mortgages.

GM starts a bank and plans to merger with Chrysler using a government loan!

What happens when the government forecloses on companies?

What happens if the government raises the loan interest rates to 35%?

What happens when these government Corporations are the first tax free shops?

What happens when most Americans live in government owned homes?

What happens when the politicians betray the super rich by confescating their wealth?

It all belongs to to washington!

Then what was the real Paulson plan and does Obama support this or know?

So when El Duce aka Obama is president will this good ahead?

James Johnson, one of three people tapped by Mr. Obama recently to oversee the search for his running mate, took at least five real estate loans totaling more than $ 7 million from Countrywide Financial Corp. through an informal program for friends of the company’s CEO, Angelo Mozilo, the Wall Street Journal reported Saturday. The Journal said at least two of the mortgages, among a series of loans made available to people Countrywide officials called “friends of Angelo,” were at rates below market averages, though it is difficult to predict a market rate without access to nonpublic information about a borrower’s credit history and other factors that can reduce interest charges on a loan.

Among the loans to Mr. Johnson, according to the Journal, were a $ 5 million home equity line of credit against a house in Ketchum, Idaho, a 5.25% loan of $ 1.3 million for a home in Palm Desert, Calif., and a 3.875% loan of $ 971,650 for a home in Washington, D.C. The interest rates applied for the first five years of the loans.

“That reeks most high,” a public relations specialist and vocal critic of Mr. Mozilo, Bonnie Russell of Del Mar, Calif., said. “Where’s the ‘change to believe in’ if they’re playing the same old game using the same old players?”

On the campaign trail, Mr. Obama has criticized Countrywide’s executives. “These are the people who are responsible for infecting the economy and helping to create a home foreclosure crisis. Two million people may end up losing their homes,” Mr. Obama said in March at a town hall meeting in Lancaster, Pa.

The Chicago Tribune reported that the senator from Illinois “fumed” over a total of $ 19 million in bonuses set to be paid to Mr. Mozilo and the president of Countrywide, David Sambol. “They get a $ 19 million bonus while people are at risk of losing their home. What’s wrong with this picture?” Mr. Obama asked.

In a written statement issued in March, the senator called the payments “an outrage” and suggested Mr. Mozilo and others had “tricked” homeowners into unaffordable loans. “These executives crossed the line to boost their bottom line,” Mr. Obama declared.

A spokesman for the Republican National Committee, Danny Diaz, yesterday called the loans to Mr. Johnson “highly questionable” and said they conflicted with Mr. Obama’s public comments. “Barack Obama needs to immediately address this matter; otherwise, his rhetoric will continue to prove to be nothing more than complete hypocrisy,” Mr. Diaz said.

Aides to Mr. Obama had no immediate response yesterday afternoon to a request for comment for this article. An attorney for Mr. Johnson, Brian Brooks, did not respond to e-mail and telephone messages seeking comment yesterday. However, in a statement to the Journal, Mr. Brooks defended the loans as “well within the band of standard industry practices with regard to price and structure of loans to borrowers of Mr. Johnson’s background.”

I’m swimming in debt and workin two jobs, one full and part-time and Nate @ it is still not sufficient to pay all my expenses. I’m behind and my father phfa loan I qualify to get in touch before Obama Birth my income total is very high. I pay my bills with my income weekly net so I do not get why there looking at my product. I’m already in the program credit card debt, and stressed beyond belief I can sum1 help me with useful information, please

The total tab for taxpayers is already mind-boggling. So far, it includes the $ 410-billion omnibus spending bill (with more than 8,500 earmarks) that Obama signed on March 11. Then there’s the $ 787-billion economic stimulus bill which passed with no Republican support in the House and only three Republican votes in the Senate. On Friday, the Congressional Budget Office predicted that the president’s proposed budget would produce a $ 9.3-trillion deficit during the period from 2010-19. That’s $ 2.3 trillion worse than the White House predicted in its budget and, if accurate, would make the deficit unsustainable, according to the president’s own budget director!

Further raising the stakes is a new program announced on Monday by Treasury Secretary Timothy Geithner that would partner the Federal Reserve, the Federal Deposit Insurance Corporation and the Treasury Department with private investors to buy from banks at a discount up to $ 1 trillion in deeply distressed (aka “toxic”) assets—mostly from soured mortgage loans—with the goal of finally properly pricing the assets and then, hopefully, selling them at a profit in the future. Hopefully.

http://foxforum.blogs.foxnews.com/2009/03/23/kraushar_obama_economy/

In 2003, our little moron in the White House was spouting his “Ownership Society”.

One thing for sure – Bush doesn’t care if anybody owns anything. He was giving permission to his banker friends to start the risky sub-prime loans and rake in the $ $ $ MONEY$ $ $ .

And now that the banks have collapsed, he’s set to steal the largest sum of money in human history – $ 700,000,000,000 – to bail out his rich friends.

It’s a great old republican scam – they pull it over and over – but do you think they can still blame it on the Democrats?

It seems everyone knew certain people would not pay for their 350,000 dollar new home but politics prevailed, so has anything changed are we still knowingly making bad loans for political reasons, called votes. Just have far are we to go down the road of politically correct loans.

too many liberals don’t know responbilities.

they are living off other people still 18-25, thinking they know everything.

Thats why Obama lost in all the primaries to Hillary in all working states like Ohio, Penn, Texas, etc.

You guys are fooling yourselves if you think the fed is going to bring your payments current.

This is what will happen: your loan will be refinanced to 40 years, and the delinquent payments will be added onto the principal. You are going to die in debt, my friends.

The administration's plan for troubled borrowers: The details of the Obama administration's plan for helping strapped borrowers are complex. The ... of 2009 ): An article from: Mortgage Banking

This is a huge reservoir of oil and wet gas are found. Output of oil would relieve the pressure over time reduces the risk of storting.Gesien deliveries at full capacity, which is easy because it comes within the framework of its compression will result in higher prices for oil and to help all the world’s economy, with the exception of competitors such as Soros and Petrogras his oil what Obama 2000000000 $ deep drilling deep, while at the present time include the United States maatskappye.Ek oil must say, and delay tactic and obstructionary Obama administration smell funky too. Deny or delay, and on every aspect of the clean up this mess of oil. It’s just the environment, such as watermelon, tactics, and gardens in general have a problem or issue false and use it as they did with the snail Pitcher and spotted owl fraud. What did they do with the credit market by bad loans, packaging them into securities and then blew by blowing up the economy with high fuel prices, the Democrats and their allies created using watermelon and Friends of the Environment and Goldman Sachs and Merrill Merrill push oil futures fair value of the actual doubling of the use of techniques madness investment and ordered the oil futures as greed on the arrest happened, and get rich quick scheme. At the same time pay for a bad connection-backed securities while playing the oil futures briefly and make for the loss of billions of dollars from their customers that they use the price of fuel strike bomber who detonated a bomb in the credit market that triggered the economy to help. The idea that every person who, by the same people, some of the innocent and not intentional? Opportunity to hit the power ball jackpot keer.Hulle keep the two in a row for the development of statistics in a plot to destroy the American economy to the possibility of higher and higher, until now it is almost certain. It’s the same players, the same benefit of a group financially and politically on a number of tricks that involve on the boards of management, politics and media over and over again. All who participated in the Cape, politics and trade, linked to attacks banking and banking services (such as Soros, who gifted Bank that Chuck Schumer caused a run by lying about the condition of it, then was helped Soros has been gained control of gain, a large% of an agreement to get something like this What was done to Washington Mutual ..) If you take a look at what made the players run cooking globalization and progressive in pushing the government and the media are increasingly the target, which becomes more pronounced in the more progress there. This is the point now is almost completely in the open. You can follow if you want, when they are of Shills and misleading propaganda in media.Hulle on your system, your country if you know that the bruise, and you’re going to be poor, and they will set their thumbs, just as they want. If you do not have the mass awakening, has screwed up. They pass only way to damn hammer any possible chance of economic recovery, and it did not not read.