Obama: US Facing 'Catastrophe'

Obama: US Facing 'Catastrophe'

news.sky.com

Barack Obama has warned the US faces "economic catastrophe" if politicians fail to pass his £640bn rescue plan.

....snip....

Mr Obama warned that the consequences of inaction would be severe.

"If we do not move swiftly to sign the American Recovery and Reinvestment Act into law, an economy that is already in crisis will be faced with catastrophe," he said during a meeting with House Democrats in Williamsburg, Virginia.

(visit the link for the full news article)

Sounds like he's just using the same tactics as were used by his predecessors, scare tactics. I think he's right that the US could be facing catastrophe, but I'm not convinced more bailouts are the answer, plus we know when they say 640bn, that's just the start. Last time they said a similar amount, and even bloomberg were saying it was really at least 2 trillion. Some people put the real cost at 7 trillion!

All these companies will do with the money is pay unwarrented bonuses, decorate their offices, and move more jobs overseas.


news.sky.com
(visit the link for the full news article)

How quickly 'hope' and 'change' turns to doom and gloom. I guess running an election campaign with cute, useless slogans is one thing, but being faced with reality once in office is something else entirely.

Yes, his tactics are exactly the same as the fear-mongering that the Bush administration is accused of using. In this instance, he's trying to frighten everyone into dropping their opposition to it before the public realizes just how atrocious it is. He's trying to ram it through as quickly as possible.

The problem for Barack is that the public is already wise to this scam.

[edit on 6-2-2009 by vor78]

www.abovetopsecret.com...

Sounds very much like a created crisis and panic mongering to me...

It looks like once again corporate America and interest groups will win one more in congress to keep stealing and robbing the tax payer in this nation.

Once again we the American people will be rob blind to support those in power and their lavish life styles.

But is ok because first it was because riots and protest will plague the nation and now is because US facing a Catastrophe, I can not wait when the summer comes and again another bail out will be needed so I wonder what will be the next line.

reply to post by vor78
Fear mongering is a favorite mantra to get people to your side. Look at what it did for Bush in 2004. His fear mongering even got me to vote for him. Since I found this forum I'm a thousand times more informed.

Thank you to the fine members of ATS. My eyes are open now.

Ten, eleven, twelve, thirteen trillion in the hole, what's the difference, we're screwed now anyway. I don't/can't see a light at the end of the tunnel.

I didn't realise Obama's election slogan "Change we need" was a literal call to the nation to empty their collective piggybanks

Yes, Obama is using fear tactics. But that doesn't change the fact that what he says is true. The US does face a catastrophe. What we do or don't do now will probably have little consequence. I doubt it really matters if his "package" passes or not.

We still face a catastrophe.

We've been talking about it here on ATS for a couple years now.

He's said "catastrophe" 3 consecutive days now.

BLATANT FEAR MONGERING.

No other way to put it.

He's going trying to scare the public into supporting this garbage.

Also, the tone he used in speech last night hit my nerves. He seemed to be angry at people who don't support this piece of trash almost as if he was talking down to them.

Why can't people see through this crap? It's what Bush did and he's doing the same exact thing!!

reply to post by Benevolent Heretic

We still face a catastrophe.

We face catastrophe because our spending is completely out of control yet he wants to do more it. I was hoping he'd try to stop it and maybe reverse it....NOPE!

He's going full throttle to completely bury this country into debt. This isn't the first...there is more coming.

And i also said last week somewhere on ATS that he would do this..he needed some numbers to push this...well he got them today with the unemployment numbers.

I can not emphasize enough that while Obama claims change his team is far away from the change he wants for the nation.

Even when his economical stimulus is needed to keep the federal government working and spending, the money will be in the hands of group of people that have already their own personal and private interest to answer.

Even Obama financial team is full of people that do not have Americas best interest in mind.

From NATA supporters, to free trade supporters, WTO butt kissers, foreign visa workers whores, all this people will be stimulating themselves with this money and their beneficiaries.

That is the problem I have, how can I trust a president with good intentions but on the side have a whole bunch of crocks doing the work for him.

The American people need, demand and deserve actual change. What we have seen is a “who’s who” of Washington insiders and old-guard Democrats. We need more than the same old “free trade” thinkers and Clinton-era retreads. Somehow, despite his incredible popular mandate to bring sweeping reform to the White House, President Obama has instead chosen to openly promote the very policies which he railed against just months ago. We were told that the election would bring radical change to the failed system which was foisted on this nation throughout several administrations. What we are getting thus far is more of the same. The President seems more worried about his budget bending economic stimulus than with the qualifications and background of his advisors. We need professionals and experts who have a real understanding of the economic situation in America. The last thing we need is more lawyers who are in over their heads.

Recycling the trash is not going to help the people in this nation and neither the Obama presidency, they are going to make Obama fail.

www.economyincrisis.org...

Originally posted by David9176
reply to post by Benevolent Heretic

 

We still face a catastrophe.

We face catastrophe because our spending is completely out of control yet he wants to do more it. I was hoping he'd try to stop it and maybe reverse it....NOPE!

He's going full throttle to completely bury this country into debt. This isn't the first...there is more coming.

And i also said last week somewhere on ATS that he would do this..he needed some numbers to push this...well he got them today with the unemployment numbers.

We are already buried in debt sir - been slopping it on for almost a decade -and two decades before that...

Your point makes the assumption that OBAMA is evil or purposefully try to kill the U.S.A.

However I think most will agree that Obama is a very PROUD person - for better or worse. I assume, considering I have met a few VERY PROUD people in my time that OBAMA is not PURPOSEFULLY trying to tarnish his name.

So I hardly think Obama would like to see the GREAT DEPRESSION X 50 or the death of the USA with his name on it.

This assumption that he is trying to F things up on purpose is absolutely illogical IMO.

Considering Obama has the resources of the most powerful Government at his disposal,

IS it possible that OBAMA is privy to more than you - me or RP for that matter?

The point of economical stimulus is just that,

artificial means to improve circulation.

LIKE BLOOD in fact

IF 100,000 are not working - then 1,000,000 bills are not not being paid.

and if 1,000,000 bills are not being paid than more will be laid off.

Now less people are working - less bills are being paid and REPEAT.

For all any of us know, we may be MUCH worse off than we are being led to believe.

Maybe Obama is on the level?

Perhaps???

Mental modulator, what I have observed in the Obama administration so far is that while he have good intentions and a good model, the people that he has surrounded himself with to do the job is not.

They have a past history of failed policies that actually are the ones that brought the nation where is today.

To me either he is been force to give a place to this crocks due to party lines or the power behind his presidency is too strong for him to ignore.

Beside what they do care if he is one time wonder when the next president is just that another president that still will have to bend to the powers wishes.

Sad times in our nation and within our government right now to be a president.



[edit on 6-2-2009 by marg6043]

I believe we face a Catastrope either way with or with out the stimulus package. Trillions and Trillions of dollars in debt that will take generation after generation to pay back. Greed and corruption to the highest degree from the top of corporate America with the U.S. Government agencies as the overseers. Forgive them all Father for they knew what they were doing.

What the Government forgets is these $Trillions$ of dollars of debt have to be payed back by We The People tax payers and the government thinks it is theirs to do with what ever they want with out any accountability.

Folks we are in for a rough road of hoe and it is as though we have turned the keys over to kids in a candy store in this administration as well as the last administration. Do you really think the government has the answers to get us out of this economic mess? Now let me get this straight we as a Nation are going to spend our way out of debt with borrowed money that we do not have to pay back. I want a front row seat to this magic show. Oh I almost forgot we are all part of this magic show.


Where will this country be when China and the rest of the world stops buying treasury bills to help with the debt crisis? Where is the outrage of where all of this money is being spent and rat holed in this recent stimulus package? Why all of this pork barrel spending in projects that will not immediately stimulate the economy? Wake up America Wake up, never mind it is too late you have been sleeping.


[edit on 6-2-2009 by amari]

Originally posted by marg6043
Mental modulator, what I have observed in the Obama administration so far is that while he have good intentions and a good model, the people that he has surrounded himself with to do the job is not.

They have a past history of failed policies that actually are the ones that brought the nation where is today.

To me either he is been force to give a place to this crocks due to party lines or the power behind his presidency is too strong for him to ignore.

Beside what they do care if he is one time wonder when the next president is just that another president that still will have to bend to the powers wishes.

Sad times in our nation and within our government right now to be a president.



[edit on 6-2-2009 by marg6043]

If that is the case, PTB and all... Why limit CEO pay? You do realize the nutty mega rich cons are publicly furious with this move. Because it will set a precedent that will spread to many companies and that will hard to be reverse.

So if OBAMA is a "puppet" why would he be punishing the puppeteers?

If Obama is this great puppet, Why did "he" insert the AMERICA FIRST claus in regards to this bill?

Supposedly the NWO and WTO are the same.

So why attempt to cut them out of the stimulus via, materials, contract, etc?

Does not make sense...if he is a puppet.


The real test is to see if he closes corporate loophole and offshore laundering down the line. If he does - he is on the level.

On a different note


My deep belief is that the breaking of the FEDERAL government was the intention of BUSH co. - not in a nefarious way, but rather a way too kill the new deal and its ideology. In fact, this very principle is at the core of the neocon movement.
They did a heck of a job




[edit on 6-2-2009 by mental modulator]

[edit on 6-2-2009 by mental modulator]

Government is the problem

Spending is out of control

The reason we are going to collapse as a society is because of Government.

The US Government right now is at Alamo's Last Stand, she is trying to take as much power as she can before civil unrest begins.

reply to post by mental modulator


Still the bill is been dissected and review, still the cap on CEOs is still on the floor nothing has been done yet.

When this is over and the bill pass then we will see what changes were made, what will be added and what will not.

And as usual like you said loopholes will ensure that all of the above can and could be by passed and everything will be nothing than another mockery and scam at the expenses of tax payer.

I can not wait to see the bill once the voting is finalizing.

Originally posted by ConservativeJack
Government is the problem

Spending is out of control

The reason we are going to collapse as a society is because of Government.

The US Government right now is at Alamo's Last Stand, she is trying to take as much power as she can before civil unrest begins.

Bad government is the problem

The reason we are going down is because thats what "you" voted for with W and co.

They hold the same view as you, except in Neocon philosophy the government needs to fall in order to be rid of FDR, his programs amongst other things.

If people would have bothered to read up on NEOCON ideology before hand...

How else can you explain the WILDEST spending spree in history???




No accident - its get er done NEOCON style

Break the bloated government by bloating it to death.

I do very much agree we are facing catastrophe, but its not a very inspiring thing to hear from your national leader.

reply to post by mental modulator

We are already buried in debt sir - been slopping it on for almost a decade -and two decades before that...

You think I don't know this? It hardly justifies lopping over another trillion on top...we are already staring at 53 trillion with medicare and social security. I really don't care who points fingers at who...in my eyes both Reps/Dems are at fault.

Your point makes the assumption that OBAMA is evil or purposefully try to kill the U.S.A.

What? I'm stating that what he is doing is wrong. I don't think it will work and just make things worse.

This assumption that he is trying to F things up on purpose is absolutely illogical IMO.

Trying to put any kind of trust or faith into our government right now is illogical. I am not assuming he is trying to F things up on purpose...maybe he thinks it will work....

For all any of us know, we may be MUCH worse off than we are being led to believe.

Much worse? Well, Mexico is on the verge of collapse....we are dumping way too much money into the system which is going to inflate the dollar...China is threatening to dump our 30 year treasuries...Other countries are calling out to dump our treasuries (going to be tough financing all that debt), we are still financing wars in Iraq and Afghanistan that we can't afford, looming terrorist attacks, worldwide hatred for the USA, our 11 trillion dollar debt (53 trillion if you include social security and medicare which is staring us in the face), etc etc.

If things are worse than he's leading on...then he needs to tell the public. I will not trust politicians unless they give me a reason to trust them. I'm tired of being had.