Unemployment is at 9.2 percent. There have been 3.5 million home foreclosures so far in this meltdown with another 11 million in the pipeline. 11 MILLION. That's 15 million families about to lose their homes. With these foreclosures come another wave of job losses, more business downturns which will lead to another round of both home and commercial real estate foreclosures.
Like all other deals that Obama has 'negotiated', he's got yet another NAFTA-like trade deal, with S. Korea, that will be joining his others in the coming weeks in Congress for ratification. These trade deals are bad for the American people -- More Americans' job will be moving overseas.
99ers (millions of unemployed) aren't covered in this deal, nor were they covered when Obama extended Bush's tax cuts for the rich in December.
Of the 6 million people currently receiving unemployment benefits, Obama's deal to extend Bush's tax cuts covered only 2 million, and many of them will get crumbs from his deal -- In spite of the 13-month extension, benefits will be cut off for many of those in the coming months when they reach 99-weeks. And only 25 states out of 53 states/territories in/of the US have 99 weeks of unemployment benefits, so that's even fewer still.
This is an absolutely wretched deal, but standard for Obama, who has a long record of negotiating lousy deals on ordinary citizens' behalf. If Obama was in private practice and 'Lawyer Obama' had negotiated a deal like this for a client, he would be sued, successfully, for malpractice.
The purpose of Obama's deal to extend Bush's tax cuts for the rich was so that political operatives could say on websites like this one, "Obama helped the unemployed", and most won't know the actual facts of how Obama sold out the American people. Again.
The purpose of this latest deal was to slash spending and get NO REVENUE INCREASES. Raising the debt ceiling was a wholly separate matter and one that could have been done last year in several ways (with a Democratic lame duck Congress or as part of the deal to extend Bush's tax cuts, OR most recently, by invoking one of several Constitutional methods and just raise it on his own).
The more we see of Obama in action, the more 'deals' he makes, the more people realize what a fraud Obama is, and a continuation of the cruel policies of Bush-Cheney. We need another FDR, and all we're getting are words reframing Obama's deals with the GOP to lead us to believe we're really getting great deals.
Read the Article at HuffingtonPost
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