Colin Powell Criticizes President Obama, the Big Spender
13 minutes ago
What're people talkin' about in the coffee shops? Anymore it is Obama. The cult of Obama. OBAMA'S BEAR MARKET and its effects. "We're all Socialists NOw." Are we? Politics light, and not so light, sometimes serious, always lively. We solve the world's problems on a daily basis. There's no shortage of opinions from all sides of the spectrum.



What went down in Indy? Ahead of the election conference itself, a group of long-time feminists who were upset with the direction that NOW had taken decided to organize a resistance...
...Sure, we can look down our noses at the PTA moms and the softball dads who left along the way and insist that we don’t need them — but we do. We need unity. We need messages that will bring back the masses as the Next Wave begins. We need to focus on the issues that unite us, not divide us. We need national organizations that can excite and inspire. We need these national organizations to form alliances and fight for all of us....
”Overheated rhetoric and finger pointing will not resolve this crisis,” Chesbro said. “We've tried three different approaches in the past week to solve this budget crisis and avoid IOUs. So far none of those approaches have succeeded. We need bipartisan solutions to this problem.”
With the deadline less than eight hours away, things in the Capitol were largely at a standstill, with a Senate floor session suspended as the Big Five -- a group comprising the governor and Senate and Assembly leaders -- met behind closed doors in an attempt to craft some kind of compromise budget plan that would be palatable for Democrats and Republicans alike....
...The Legislature's latest proposal is no different than what Sacramento has been doing for the past two decades -- kicking the can down the alley,” Schwarzenegger's press secretary, Aaron McLear, said in a statement late Tuesday. “If the Legislature doesn't want to make the deep cuts necessary to balance the budget, the governor has proposed reforms that eliminate waste and still solve the entire deficit. The problem is the Legislature has refused the cuts, refused the reforms, and in doing so have made absolutely clear that they refuse to have state government live within its means.”
While pleading for unity and constructive solutions in one breath Tuesday, Chesbro couldn't contain his frustration with the governor in the next.
”He's not acting as though we are in a crisis, and that's very disturbing,” he said of Schwarzenegger. “The state controller, John Chiang, and the treasurer, Bill Lockyer, have both made it abundantly clear that we are in grave danger, not just of issuing IOUs but of gravely damaging the state's credit rating. And, the governor is acting like it's just another negotiation.”
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“On Wednesday we start a fiscal year with a massively unbalanced spending plan and a cash shortfall not seen since the Great Depression,” said John Chiang, the state controller. “Unfortunately, the state’s inability to balance its chequebook will now mean short-changing taxpayers, local governments and small businesses.”
Mr Schwarzenegger said he would veto any bills that raised taxes without reforming the state’s government. “I will veto any majority vote tax increase bill that punishes taxpayers for Sacramento’s failure to live within its means,” he said. ”The legislature will have a difficult time explaining to Californians why they are running floor drills the day before our budget deadline. We do not have time for any more floor drills or partial solutions. It’s time for the legislature to send me a budget that solves our entire deficit without raising taxes.”
U.S. consumer confidence took an unexpectedly steep slide in June, figures released on Tuesday showed, suggesting the 18-month-long recession had yet to loosen its grip on the economy.Soros must be a happy camper then. He must chortle with glee at what he has wrought.
A separate report on April house prices in major cities offered some encouraging signs that the worst of the housing slump may be over, but that was not enough to lift investors' spirits. Another crop of economic data showed business activity in New York City and the Midwest remained weak, while retail chains slogged through a rough June.
Billionaire investor George Soros added to the cautionary tone, saying that rising borrowing costs posed a threat to any eventual economic recovery.
Stocks fell sharply in midday trading Tuesday after a private research group said consumer confidence unexpectedly fell in June.
Investors had been expecting the Conference Board's measure of consumer sentiment to hold steady following big jumps in April and May. Consumer confidence is closely watched because spending from consumers accounts for more than two-thirds of U.S. economic activity.

