Spring Break
Obama's economic plan, appointees face criticism
Cameron Birch
Issue date: 2/6/09 Section: News
President Barack Obama warned of the nation entering a deep "crisis" Thursday in an op-ed piece in The Washington Post. This came as nominee to secretary of health and human services, Tom Daschle, withdrew his candidacy due to tax problems, according to a FOX News article.
George Tsetsekos, dean of LeBow College of Business, said he and his colleagues were working on addressing the economic stimulus package in classes and lectures and will discuss Congress's stimulus bill when it expected to pass next week.
"The philosophy of the bill … is based on the idea of reinvesting America and create opportunities to save jobs," Tsetsekos said.
A CNN article describes the $800 billion stimulus package, which features a $15,000 tax credit for people that purchase a home within the next year.
The housing amendment was added in the Senate after the original housing bill passed in the House, failing to receive a single Republican vote.
In his editorial, Obama wrote, "What Americans expect from Washington is action that matches the urgency they feel in their daily lives- action that's swift, bold and wise enough for us to climb out of this crisis."
Obama has also placed a deadline for a bill to pass by the end of the week.
Mike Hess, chairman of the Drexel College Republicans, said despite the push for bipartisan support, neither side is willing to make concessions.
"[There were] straight party line votes aside from ten democrats," Hess said, "It is encouraging to find solidarity [among Republicans]."
Tsetsekos said the house bill created "unhappiness" among Republicans. He also stated that both parties share certain right views on fixing the economy, from infrastructure spending to tax breaks for many Americans.
In an interview with NBC's Brian Williams, Obama said he was willing to take his lumps in the appointment of former Senate Majority Leader Daschle. The Obama vetting process has recently come under scrutiny as Daschle, treasury secretary nominee Timothy Geitner, and performance czar Nancy Killefer have been investigated for failure to pay back taxes.
Daschle had withdrawn his consideration for the position after Killefer had withdrawn from her position over a tax lien regarding unemployment compensation taxes.
"Someone should have done better homework," Tsetsekos said. "This is a very difficult situation for President Obama."
Tsetsekos also found error in Geitner only paying his taxes upon being selected for the secretary position. "You cannot be objective and credible enough to oversee the taxes, the entire tax organization, and the entire taxes department, and at the same time be a violator of tax laws," he said.
"[The appointment] shows lack of wisdom," Hess said. "I find it baffling that someone with as much research and knowledge that he can't more thoroughly vet these people."
Finally, the Senate hearing for the confirmation of Hilda Solis as labor secretary was postponed due to tax liens against her husband's business.
George Tsetsekos, dean of LeBow College of Business, said he and his colleagues were working on addressing the economic stimulus package in classes and lectures and will discuss Congress's stimulus bill when it expected to pass next week.
"The philosophy of the bill … is based on the idea of reinvesting America and create opportunities to save jobs," Tsetsekos said.
A CNN article describes the $800 billion stimulus package, which features a $15,000 tax credit for people that purchase a home within the next year.
The housing amendment was added in the Senate after the original housing bill passed in the House, failing to receive a single Republican vote.
In his editorial, Obama wrote, "What Americans expect from Washington is action that matches the urgency they feel in their daily lives- action that's swift, bold and wise enough for us to climb out of this crisis."
Obama has also placed a deadline for a bill to pass by the end of the week.
Mike Hess, chairman of the Drexel College Republicans, said despite the push for bipartisan support, neither side is willing to make concessions.
"[There were] straight party line votes aside from ten democrats," Hess said, "It is encouraging to find solidarity [among Republicans]."
Tsetsekos said the house bill created "unhappiness" among Republicans. He also stated that both parties share certain right views on fixing the economy, from infrastructure spending to tax breaks for many Americans.
In an interview with NBC's Brian Williams, Obama said he was willing to take his lumps in the appointment of former Senate Majority Leader Daschle. The Obama vetting process has recently come under scrutiny as Daschle, treasury secretary nominee Timothy Geitner, and performance czar Nancy Killefer have been investigated for failure to pay back taxes.
Daschle had withdrawn his consideration for the position after Killefer had withdrawn from her position over a tax lien regarding unemployment compensation taxes.
"Someone should have done better homework," Tsetsekos said. "This is a very difficult situation for President Obama."
Tsetsekos also found error in Geitner only paying his taxes upon being selected for the secretary position. "You cannot be objective and credible enough to oversee the taxes, the entire tax organization, and the entire taxes department, and at the same time be a violator of tax laws," he said.
"[The appointment] shows lack of wisdom," Hess said. "I find it baffling that someone with as much research and knowledge that he can't more thoroughly vet these people."
Finally, the Senate hearing for the confirmation of Hilda Solis as labor secretary was postponed due to tax liens against her husband's business.
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Terry Mock
posted 2/07/09 @ 11:54 PM EST
Humbled Masters of the Universe
http://www.sldi.org/newService/SLDIFeb2009.html
This year's official World Economic Forum Davos theme - "Shaping the Post-Crisis World" – might well have been – "How could the giants of capitalism have been so stupid?" For many, Davos this year was "where the pent-up dismay and anger over what Wall Street wrought boiled to the surface" despite efforts to contain it. (Continued…)
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