Dow Tanks On Obama Plan

On Monday night Barack Obama preempted regular programming in order to get on the air and scare people into supporting the future generation bankruptcy plan. After he told us of the dire consequences of inaction he took some questions. Some of those questions dealt with the second half of the TARP money and what was going to be done to ensure that it worked and there was accountability. Obama said that his Treasury Secretary Tim [Geithner] would be speaking at a press conference tomorrow [Tuesday] and would explain it all. Obama did not want to steal Geithner’s thunder.

Well, Geithner spoke and all I can say is if this is the brightest guy and the only one who could handle the problem then we are in real trouble. This specific plan that Obama said would be revealed was a very general plan with NO specifics. There was no meat to the thing. He did manage to say that access to government resources is a privilege and not a right. I want to point out that they are not government’s assets because government has none. The assets belong to the taxpayers who have them confiscated.

In any event, Geithner and the rest of the government would do well to remember his words. Access to our money is not a right. It might be legal but that does not make it right.

This plan had no substance but we were assured that they would tell it to us once they got it straight. If it takes as long for him to come up with a plan as it did for him to pay his taxes we will all be dead of old age before it is published. This is the guy who was told he had to pay taxes and was given money to do so but decided not to anyway. If he was told to and said he would (signed a paper indicating) and then did not then it must have been intentional.

Obama promised a plan and he promised Geithner would deliver it. The guy comes out today and he has no plan. He is lacking substance and the genius who was going to fix it all because he had the answers brought so little out today that he wasted our time.

Wall Street reacted unkindly. The Dow dropped around 400 points today after he “detailed” the plan.

This is the plan Obama made us wait for?

Related:
Politico

Big Dog

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4 Responses to “Dow Tanks On Obama Plan”

  1. Jo says:

    Best line in the whole post: If it takes as long for him to come up with a plan as it did for him to pay his taxes we will all be dead of old age before it is published.

  2. Barbara says:

    Obama and his cronies have no intention of really letting us know what is in the plan or how they are going to handle it. This is all their control. From what I could see of Obama’s speech, he didn’t like the questions he was getting and ended it rather abruptly.
    This is all we are ever going to get until Obama and the Democrats hit rock bottom and people start to wake up and put a stop to it.

  3. Carla says:

    All people have to do is take a look at California to see what will happen to the whole country, as the far left has been in charge of that state for a long time. I moved from Southern California a year ago and it breaks my heart how that state has been economicially destroyed. It is a sanctuary city as much as San Francisco is and La Roza has a real hold.

  4. Terberon Stanier says:

    hope that b doesnt bring back card check, that would be a soft tyranny