Today, President Obama will kick off a two-day “Betting on America” bus tour through Northern Ohio and Western Pennsylvania. He begins his tour on the heals of promising economic news on the jobs front.
The Automatic Data Processing (ADP) National Employment Report released today shows that Private U.S. businesses added 176,000 jobs in June. This was almost double the growth that economists expected. In the report ADP also revised upward its May report by 3,000 jobs to 136,000.
Throughout Ohio and Pennsylvania, President Obama will talk about his efforts over the last three years to get our economy back on track, doubling down on American workers by saving the auto industry, investing in manufacturing and bringing jobs back to America.
The President will also talk with voters in their communities about the choice in this election – whether we want to grow our economy from the middle out, not the top town. The President is rebuilding an economy meant to last – one that restores middle class security by investing in education, energy, innovation and infrastructure and reforms the tax code — steps which will create American jobs, responsibly pay down our debt and ensure everyone – from Wall Street to Main Street – plays by the same rules and pays their fair share.
The President’s vision stands in stark contrast to Mitt Romney, who believes in an economy built from the top down and supports the same policies that crashed our economy and devastated the middle class in the first place. As a corporate buyout specialist, he made massive profits by shuttering plants, firing workers and investing in companies that pioneered shipping of good American jobs overseas. As governor of Massachusetts, he increased debt, raised taxes and fees on the middle class and left the state 47th out of 50th in job creation. As a candidate for president, Romney’s economic plan blows a hole in the deficit with tax cuts for the wealthy, guts investments in education and clean energy, encourages outsourcing, and puts taxpayers at risk by rolling back Wall Street reform. According to independent economists, Romney’s economic plan would fail to create new jobs in the short term, and even make our economy worse. And by proposing $5 trillion in tax cuts weighted towards the wealthy, Romney’s plan requires either further increasing our deficits or raising taxes on the middle class.
“Romney’s economic plan … puts taxpayers at risk by rolling back Wall Street reform”.
There has been No Wall Street Reform.
Obama is a fraud.
The following is from Congresswoman Marcy Kaptur.
http://www.kaptur.house.gov/index.php?option=com_content&view=article&id=637&Itemid=122
“Standing Up To Wall Street Greed
• Overview
• Letter to Attorney General Holder on the SEC’s charges against Goldman Sachs
• Legislation I have introduced on the financial crisis and Wall Street Greed
We have suffered the largest transfer of wealth from Main Street to Wall Street through both the housing crisis and the financial crisis. The six largest banks, Bank of America, JP Morgan Chase, Citigroup, Wells Fargo, Goldman Sachs, Morgan Stanley, and Metlife, Inc, now hold over two-thirds of our nation’s assets.
The Dodd-Frank Wall Street reform bill did not go far enough in addressing the challenges facing our financial system. For example:
• It did not replace and strengthen Glass-Steagall, separating commercial banking from investing or speculation.
• It did not reform the credit rating agencies, which had a starring role in the misdirection of investors, including the fundamental business model of the credit rating agencies.
• It did not force every derivative to be traded openly and transparently on an exchange.
• It did not end too big too fail.
• It did not prevent Wall Street banks from replacing community banks.
• It did not encourage prudent lending.
• It did not strengthen support for those agencies finding and fighting fraud in our financial system.
• It did not properly address the housing crisis.
Almost two years ago, I fought against the Troubles Asset Relief Program and I did not vote for it the two times it was brought up in the U.S. House of Representatives.
The clever comedic tale that is being spun by Wall Street megabanks here in Washington is that they are paying back the $700 billion our taxpayers bestowed on them in the fall of 2008, and so the cost to the American taxpayer will be low.
They want everyone to look at the TARP and not at the big picture, the real cost of the crisis, or the real losses thrust upon the American people. The American taxpayers need to be paid back for ALL the damage the Wall Street and its reckless banksters did to our economy.”
I saw this on facebook on a friends page today. I thought you may find it interesting. The idea of Universal healthcare is an idea that the Heritage Foundation made a policy point in 1989 during the Reagan Adminstration. With all the calls of Socialism etc etc I think it would be pretty in your face to the Republicans in Orange County to learn that the Heritage Foundation wanted to make Obama/Romney care a reality in the 80s because they saw it as the most efficient manner to deal with the health care issue in America. Pretty illuminating since so many Republicans are bemoaning the Socialistic nature of ACA. Cut and paste the link below into your browser. Its really awsome to throw this in the face of the anti healthcare folks out there.
http://www.scribd.com/doc/98897941/1989-Assuring-Affordable-Health-Care-for-All-Americans
The Importance of Repealing Obama Care, with Obama Care organization chart at link below.
160 new federal agencies means that it is more about controlling people than health care.
http://www.jbs.org/news/the-importance-of-repealing-obamacare