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Congressmen are speaking up! Sen.Inhofe: U.S. Headed Toward Revolution
Ms Sans Serif
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[quote:WatchmanOntheWall:MV84Njk0NzlfMTM0NTg5MTlfNkYxNkQwOEY=] [b]9 Trillion Obama has spent in 6 months![/b] [b]Obama's Spending Spree, Budget Numbers "Have All Gone Mad," Analyst Says[/b] Posted Aug 27, 2009 09:00am EDT by Heesun Wee in Investing, Products and Trends, Recession, Autos, Housing Related: ^DJI, ^GSPC, WMT, TGT, ROST When retail expert and all-around economy watcher Howard Davidowitz appeared on Tech Ticker in February declaring the worst was yet to come for the U.S. economy and that Americans' standard of living has changed permanently, our comment boards lit up. But surely with the latest rally off the March lows, bearish Davidowitz is more bullish, right? Not a chance. Look at your financial history books. Two of the biggest rallies of more than 40 percent occurred during the Great Depression, says Davidowitz of Davidowitz & Associates,a retail consulting and investment banking firm. "People were sucked in and ultimately were destroyed," he says. It's a warning to today's investors, who are hoping to extend the rally. Don't get Davidowitz started on the economy or fundamentals. "Barack Obama's numbers have all gone mad," Davidowitz says. The Obama administration recently announced the U.S. budget deficit will be $9 trillion during the next decade; $2 trillion higher than the original forecast. And, the proposed price tag for health-care reform? "Minimum $3 trillion," Davidowitz says. "One trillion? Are you kidding?" Stimulus binges? Roller coaster equity performance over years? Stubborn consumers holding out for sales as deflationary pressures loom over the recovery? Sounds like the U.S. economy is turning Japanese, Davidowitz says. [b]Watch the video click on link:[/b] http://finance.yahoo.com/techticker/article/312185/Obama's-Spending-Spree,-Budget-Numbers- [/quote]
August 27, 2009
Inhofe: U.S. headed toward revolution
@ 1:01 pm by Eric Zimmermann
The overreaching of the federal government is pushing the U.S. towards a revolution, Sen. Jim Inhofe (R-Okla.) said today.
"People are not buying these concepts that are completely foreign to America," Inhofe said at a townhall in Chickasaw, Okla. "We're almost reaching a revolution in this country."
Inhofe has been one of the Senate's most strident opponents of climate legislation and healthcare reform.
Inhofe added that he didn't need to read the full helathcare legislation before deciding to vote against it. Public opinion and news reports, he said, provided all the information he needed.
"I don't have to read it, or know what's in it," Inhofe said. "I'm going to oppose it anyways."
Most of the versions of healthcare legislation making their away through congress are about 1,000 pages long.
link to briefingroom.thehill.com
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