Sen. Gregg says Obama budget will bankrupt US

The top Republican on the Senate Budget Committee says the Obama administration is on the right course to save the nation’s financial system.

But Sen. Judd Gregg of New Hampshire also says President Barack Obama‘s massive budget proposal will bankrupt the country.

Gregg says he has no regrets in withdrawing his nomination to become commerce secretary. He pulled out after deciding he could not fully back the administration’s economic policies.

The senator said Obama’s spending plan in the midst of a prolonged recession would leave the next generation with a country too expensive to live in.

Gregg appeared Sunday on CNN’s “State of the Union.”

Most Americans Now Say America Could Go Bankrupt

With the stock market in a nose dive and the U.S. government spending borrowed money like a drunken sailor, more than 60% of Americans now believe the U.S. could literally go bankrupt.

And as Americans watch news reports on how all this federal money (ie your money and my money) is being spent by the likes of Barney Frank, some are starting to wonder if all this spending will do any good, if it is fair and honest, and if it will prevent disaster (or as Barack Obama has sermonized: “catastrophe”).

Even if the “stimulus” and other Obama spending measures slow the economic downward slide, it is getting more doubtful that the Obama plan will restore investment, prosperity and economic growth in America — as investors seem to be saying in the stock market.

And is it all fair?  Should luxury car salesman Chadi Moussa get a new mortgage with your money and my money?  Should Americans and American companies be allowed to fail?

In the every-player-gets-a-trophy never-never land of liberal American, apparently nobody will be allowed to fail.  So the net reult may be that we all fail….

 

Chadi Moussa bought his home in Dublin, Calif, for $2.24 million in 2005. Its value and his income have since fallen by half. Now he wants a government bailout.  Heidi Schumann for The New York Times

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The stock market has plunged to its lowest point in decades, unemployment is up, and home foreclosures are sweeping the country. Still, Americans think it can get even worse – a lot worse. Fully 61 percent of Americans think it is possible the United States government could literally go bankrupt. That’s according to a new Fox News poll released Thursday.

By Chris Anderson

And what about the billions of dollars the government has spent since last fall to get the economy back on track? Many Americans think its simply not working: 44 percent say “things would be the same as they are today or even better” without the spending, while 38 percent think “things could have been a lot worse,” without the spending. Another 14 percent think it is too soon to tell.

Some 60 percent of Americans now describe themselves as confident “about the future security of your job,” down from 64 percent in September 2008 and 82 percent in October 2007.

Lower earning workers are the least confident in their job security. Nearly half (45 percent) of households with annual incomes under $50,000 are confident in their job security, compared to 70 percent of higher earning households.

Opinion Dynamics Corp. conducted the national telephone poll of 900 registered voters for FOX News from March 3 – March 4, 2009. The poll has a 3-point error margin.

Read the rest:
http://www.foxnews.com/story/0,2
933,505184,00.html

Related:
http://michellemalkin.com/2009/03/05/boo-freak
ing-hoo-million-dollar-home-owner-whines-about
-bailout-limits/

http://www.nytimes.com/2009/03/05/
us/05mortgage.html?_r=1&em

Democratic Pakistan Limps On

Pakistan returned to civilian rule shortly after the assassination of Benazir Bhutto a year ago, but the nascent democracy is now caught in a web of crises that is threatening its future, analysts say.

The government led by President Asif Ali Zardari, Bhutto’s widower, came to power with significant public support, but many say he has not lived up to the promises made by their slain leader before her death in a suicide attack.

“He seems to have lost some of the popular goodwill because the government appears to be ineffective in addressing the problems that have hit the common people most,” political analyst Hasan Askari told AFP.

By Rana Jawad
AFP

 
Pakistan President Asif Ali Zardari. Pakistan returned to civilian rule shortly after the assassination of Benazir Bhutto a year ago, but the nascent democracy is now caught in a web of crises that is threatening its future, analysts say.(AFP/File/Sezayi Erken)

Pakistan’s troubles have worsened in the past 12 months with more than 50 suicide attacks killing civilians, severe economic woes for the government, and high food prices and regular power shortages hitting ordinary families hard.

At the same time, militancy in the lawless tribal areas and simmering tensions with India have been accompanied by political infighting between the ruling Pakistan People’s Party (PPP) and its former coalition partner.

Read the rest:
http://news.yahoo.com/s/afp/20081224/wl_sthas
ia_afp/pakistanattacksbhuttoanniversarypolitic
s_081224062445

Related:
http://www.cnn.com/2008/WORLD/asiapcf/12/26/un.pakistan/index.html