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Politics : President Barack Obama -- Ignore unavailable to you. Want to Upgrade?

To: ChinuSFO who wrote (45299)	11/20/2008 5:40:03 PM
From: H-Man	Read Replies (3) \| Respond to of 149317

What Obama needs to do right now Is state that while the economy is in a down turn, he will not raise taxes on ANYBODY No increases in income tax, capital gains, SSI over some number, nuttin, zero, nada. Some say the market looks forward 6-9 months. I think it longer but won’t quibble. Though the market reacts to the news today, it is reacting to what today’s news means in the future. The market has no faith in Mr. Obama. The good news is that he can correct this easily if he can move past his ideology.

To: ChinuSFO who wrote (45299)	11/20/2008 5:43:44 PM
From: tejek	2 Recommendations Respond to of 149317

Seeing that the President is AWOL and Paulson is screwing things up, should Obama step upto the plate, confer more aggressively with Bush to goad him along. Obama needs to step up even as that's a dangerous move. Its not fair to him but this country hasn't had a president for two years and we need one now.....badly. As for Paulson, he's an idiot and someone needs to put a muzzle on him and make sure he's homebound so he can't screw up anymore.

To: ChinuSFO who wrote (45299)	11/20/2008 6:39:13 PM
From: stockman_scott	Read Replies (1) \| Respond to of 149317

Wagoner: With market so weak, an infusion of cash is needed now _______________________________________________________________ By KATIE MERX DETROIT FREE PRESS BUSINESS WRITER November 20, 2008 November U.S. auto sales remain just as anemic as last month, when they hit a 25-year low, keeping General Motors Corp.’s need for an “immediate” cash infusion unchanged, Chairman and CEO Rick Wagoner said in an interview this afternoon. “I think the industry looks like to me that it’s running fairly similar to last month, which continues to be quite weak,” Wagoner said. “Credit is still extremely tight, whether it’s for consumers or dealers as well as manufacturers and suppliers. And I also think it’s fair to say that consumer sentiment, I haven’t seen anything which indicates any change from what’s pretty negative outlook.” Wagoner spoke with the Free Press today upon his return from Washington, D.C., where he and his counterparts from Ford Motor Co. and Chrysler LLC appeared before Senate and House committees earlier in the week to request federal loans to help them survive the global credit crunch and the worst auto sales in 25 years. GM and Chrysler both have said they could run out of enough money to operate by the end of the year without federal assistance. GM said it burned through about $2.3 billion in cash each month of the third quarter and Chrysler says it burned through about $1 billion each month in that period. Ford says it is also suffering from the downturn in the economy and auto sales, but thanks to loans it took out in 2006, it believes it has enough cash to operate until 2010. Ford burned through an average of more than $2.5 billion in cash each month in the third quarter. The automakers had hoped to secure assistance from Washington this week, before Congress leaves town for a two-month recess, but they didn’t get it. Congress instead asked for business plans from the automakers and agreed to reconvene in early December to again consider aid. In the wake of a $700 billion bailout of financial institutions some say hasn’t been perceived well by the public, congressional leaders said they didn’t want to rush into another bailout program. They asked Detroit automakers to provide a detailed account of how much money they need and how it would be used by Dec. 2. Congressional leaders said they would call a special session the week of Dec. 8 if the automakers’ plans pass muster. Wagoner indicated some frustration that Congress didn’t provide assistance this week, but said the company will do what it needs to, to continue to operate. “We had said we felt that given all the uncertainties in the financial market, and weakness of sales in the auto market, we felt that urgent action was appropriate and needed,” Wagoner said. “I haven’t changed that view. But obviously the time frame has been now made clear to us, and that’s what we need to work with.”