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Obama, Dems struggle to explain
TweetWASHINGTON (AP) — For the first time since last fall’s election, Democrats and the Obama administration are backpedaling furiously on an issue easily understood by financially strapped taxpayers: $165 million in bonuses paid out at bailed-out AIG.
Republicans, struggling to regain their political footing, are content to let Democrats try to dig their way out of this mess on their own.
Professing shock at the bonus payments, Democrats have embarked on a hurry-up effort to impose what amounts to confiscatory taxes on the bonuses, a maneuver that almost surely will be tested in the courts.
Treasury Secretary Timothy Geithner won a strong vote of confidence Wednesday from President Barack Obama, whose administration has been struggling with the controversy since the weekend.
But the mood is less charitable among congressional Democrats. And Republicans have made Geithner their top target, not surprising given Obama’s continued high approval ratings.
“It’s shocking that they would — the administration would come to us now and act surprised about these contracts,” said Sen. Mitch McConnell, R-Ky., the Senate GOP leader. “This administration could have and should have ... prevented this from happening. They had a lot of leverage two weeks ago.”
That would be when the Treasury Department decided to make an additional $30 billion available to American International Group Inc., the huge insurance conglomerate deemed too big to fail by two administrations.
Which goes to the crux of the Democrats’ current political problem.
Gone are the days when they could merely bludgeon the Bush administration and promise to seek bipartisan solutions to the nation’s economic problems.
Now, in control of the White House and Congress, they are struggling to come up with an explanation for what no one in either party seems moved to defend.
Senate Majority Leader Harry Reid, D-Nev., said AIG stands as a symbol of “greed and perhaps corruption.”
Sen. Max Baucus, D-Mont., scoffed at AIG’s claim that the money represents retention pay. “There are enough bright people in this country that would do the job for an honest salary, and enough honest taxpayers demanding that we put an end to this stuff. You can bet I’ll make sure justice is served,” he said.
But the bonus payments occurred on the Democrats’ watch, and for Republicans, AIG seems politically providential.
Their overwhelming opposition to last month’s stimulus bill appeared to be gaining little traction as Democrats showcase every shovelful of dirt that is turned — all in the name of economic recovery.
Criticism that Obama and Democrats are embarking on a new era of tax-and-spend is undercut by the lack of a budget alternative from Republicans — the party that presided over a historic run-up in the federal debt earlier this decade when it controlled both the White House and Congress.
Less than 100 days into the Obama administration, polls have brought little good news to Republicans.
Though a recent Pew survey found some slippage in Obama’s support, it also registered only 28 percent approval for the job being done by GOP congressional leaders, the lowest in nearly 14 years.
And a separate survey by CNN and Opinion Research Corp. put support for the president’s handling of the economy at nearly 60 percent.
The president “has complete confidence” in his Treasury secretary, White House press secretary Robert Gibbs said.
Comments
Giving billions to AIG, is just part of the economic problem, when it comes to the Stimulus/ Omnibus spending carousel. Money is siphoned away to support 40 million foreign nationals, who have overstayed their welcome.
If our so-called honest politicians are not going to enforce the laws of illegal immigration enforcement-- we must do it ourselves. This month they commit such anti-sovereignty deeds such as killing E-Verify, so they have ignored THE PEOPLES wishes. These Senators have a secret agenda, to suddenly pounce on the unsuspecting US population with a reformatted AMNESTY? They have Rep. Gutierrez on emancipation touring the country, looking for sympathetic votes for a new path to citizenship for lawbreakers. Sen.Harry Reid doesn't care, nor does Nancy Pelosi or Dianne Feinstein.or most Democrats. Nor does a number of Republicans. These lawmakers have no conception of the magnitude of how many Americans are jobless. SO it will be up to the public citizen at large to contribute to federal enforcement? Our eyes should be on watching other workers on building sites, large construction projects like bridges, highways. Carefully scrutinize who is hired by contractors, factories, business, with activity that doesn't seem correct. Have a friend who is employed in landscaping. Take good notes of what he has to tell you about other individuals working at the job site. Each month without public notice nearly 200.000 immigrants are settled into America, along with an unknown number of illegal immigrants the taxpayer has to house, feed, educate, arrange health services and of course a conveyor belt of prison inmates.
Hundreds of billions of your dollars are spent in favor of unpatriotic corporate welfare. YOUR DOLLARS? Every year--day in--day out--your being unknowing seduced by a the k street lobbyists. They have undermined the capitol halls with pockets full of cash. They have seduced, greedy disloyal lawmakers who just want to be a re-elected. Who wouldn't when they receive massive pay raises every year--benefits that the people can only dream of--unparalleled health care--and for Pelosi, whose arrogant demand to fly private jets with family to wherever? Think of how much of your dollars would be saved--without Washington waste. Yet we keep voting for the same old crowd.
Have you any idea the costs to the US population if they force through another Immigration reform package. It's another name for AMNESTY. Countless illegal/legal people will have more or less "Carte Blanche" to your tax money? IT will be a massive chain migration, as the extended families will be sponsored--the old, infirm and mentally handicapped services would be 'extracted' from your wage packet.
We think the traffic on our highways is bad now? It will be hardly any movement at all in big cities. The suburbs will spread so fast outwards, that wild creatures will be living in your back yard. Small farms will be non-existent taking over by mass produced food supplies. Our cities garbage already have issues finding new landfills. More energy will be needed and the flow of extra water for drinking--we already have water rationing in Sanctuary City--Los Angeles.
Only the newcomers who jumped the fence are soliciting for work outside Home Depot. Illegal immigrants who have been here for some years, have borrowed their legal cousins social security card and was hired, by some unscrupulous manager who ignores the E-Verify application. He's no longer digging trenches where illegal aliens work or a chicken processing plant. WASHINGTON, March 19 (UPI) -- Wages and employment increased for legal workers after raids on six Swift & Co. meat-packing plants in several U.S. states in 2006, a study indicated. These laborers are not just painting walls, but laying carpet and framing homes. In California they have state jobs, such as road maintenance and running electric cable. They have infiltrated everywhere, even to drafting house plans, computer programming or started their own business and hiring others without papers. Then by cutting costs able to starve out, American tradesman who can no longer make a profit. That's why you should have the--ICE-- 1-866-DHS-2-ICE (1-866-347-2423) number on hand--in your cellphone directory. Call them--leave a message. http://www.ice.gov/about/contact.htm Remember with businesses demanding more cheap labor, it might be your job next--NO MATTER WHAT YOUR TRADE, SKILL OR PROFESSION?
I don't know why the Republicans aren't making more political hay out of Harry Reed's addition to the stimulus bill that any deal approved before 2/09 would be exempt from the bonus cap.
The Republicans are without a clear and concise voice at a time when they could begin to make substantial gains and induce doubt as to the president's ability and competitence.
When you have Chris Dodd collecting 104k from AIG in 2008 and Obama collecting 101k in 2008 from AIG. What do you expect?
And Mr. Dodd just happens to put the little bonus measure in the package. That was voted on and passed by every Democrat in the House and the Senate, signed into effect by a Democrat President. Now looking behind you. You want to cry foul? Want a do over? Want the money back? Better yet think you can actually tax those people extra to cover your mistake? When people start writing laws and want to "Change" some thing after it is done. maybe the fast pace in which this stimulus had to be passed or the world would collapse is the real issue. The transparency of the promise of "change" in Washington. The same old, same old good old boys club seems to me like they received their pay in 08 and made sure it was paid back in 09. I hope everyone one of AIG, Fanny, Freddie and others keep every dime of it.
And if the clowns want to tax them on the bonus money like the 95% or 90% like some fools are thinking about. I hope everyone of them sues some body and wins. So tuck your tail in and start walking away. The Dems need to consider a loss and deal with it internally. [Dodd] And I am sure everyone will be reminded in 2010 and 2012 of this so called mistake?
From what I understand, up to this point in falls in Cris Dodds lap. Until the Obama administration comes out and explains who did what and why, the American people have no choice but to speculate that Cris Dodd is looking out for his own interest.
I voted for Obama and believe he is the best person to run the country and fix the economy. I also believe his feet should be held to the fire regarding the actions of his administration. If you screwed up say you screwed up and explain exactly what happened. Just saying the buck stops with me isn't enough.
"Sen. Max Baucus, D-Mont., scoffed at AIG’s claim that the money represents retention pay. “There are enough bright people in this country that would do the job for an honest salary, and enough honest taxpayers demanding that we put an end to this stuff. You can bet I’ll make sure justice is served,” he said."
There are many people in this country who would and could do a much better job than any sitting senator or congressperosn in D.C. for a whole lot less. Welcome to the end.