Obama Vetos Himself on Sequestration

Obama and cronies invented this sequester, and he threatened to veto any bill which interrupted the automatic reductions in planned spending.
PRESIDENT OBAMA: “Already, some in Congress are trying to undo these automatic spending cuts. My message to them is simple: No. I will veto any effort to get rid of those automatic spending cuts to domestic and defense spending. There will be no easy off ramps on this one. We need to keep the pressure up to compromise – not turn off the pressure”
Obama signed the Sequester bill on August 2, 2011, and this LAW started cutting in 2012.  It scheduled  additional reductions  (totalling 1.2 trillion) yearly over 10 years, with $85 billion in reduction planned for 2013. The president has a great deal of discretion in determining where the cuts will be.

Now Obama has turned against this plan that he originated way back in 2011, and is blaming it on the Republicans.

Sequestration amounts to about $85 billion reduction in the spending increase slated for this year. One half of that is for the defense dept. It means that spending for the affected areas will only go up about 6-8 percent instead of going up 8-10 percent as baseline budgeting dictates.

To put this 85 billion sequestration for 2013 in perspective:

The government spends $3.5 trillion per year.

The government spent $50 billion on Tropical Storm Sandy relief.

The government spent $30 billion on extension of unemployment.

There is an estimated 44 billion in improper medicare payments yearly.

The federal reserve  prints $85 billion per MONTH and props up Wall Street with it.

TOP NEWS- a Tiny Cabal of Global Revolutionaries Occupies Wall St

Social Networking Spurs Wall Street Protest – NY1.com.

This is HUGE NEWS, sez the mainstream media.  These are the same newsguys  who ignore hundreds of thousands gathered in Washington DC every January in the freezing cold to protest abortion. Over a hundred thousand more followed  the event online in a virtual march.

But these global revolutionaries are a much biggerdeal!.  There was a puny crowd gathered in New York and between 4 and 5 thousand people watching the live stream online- WORLD WIDE.  Running chat rooms  had to be flushed out  because many of the watchers were there to make fun of the global revolutionaries.  Moderators  at the live stream chat asked for links and no more free form comments.   The little group of  protesters  in New York were repeating recitations by a leader, about five words at a time – more boring than watching Obama read the teleprompter, left…right… left… right.

But remember — this is a BIG DEAL, and those pro-life marchers who have been at the massive January rallies  for DECADES are to be ignored by the media, which knows what is important and what is not.

SEC Says New Financial Regulations Allow It to Hide Its Failures

FOXBusiness.com – SEC Says New Financial Regulation Law Exempts it From Public Disclosure.

The public will not be able to obtain SEC records using the Freedom of Information Act.   The SEC remains accountable only to government.

Fox Business News Network learned this when the SEC claimed this week that Section 9291 of SEC Financial Regulatory Law H.R. 4173 allowed it to refuse FOIA requests for info..

So much for Obama’s promise of increased transparency in government.

Fox Business Network intends to challenge this interpretation of the law.

Hey Libs, Obama Really Didn’t Mean That STuff About CEO Pay

Here’s Obama when he wanted your vote…. remember this? He was going to erase the evil of astronomical CEO salaries.

When Obama had a chance to regulate the pay of his very OWN Government Motors CEO…… $9 million, has just been approved, plus hiring him a helper, at almost $3 thousand per hour because, as you remember, Ed Whitaker ‘doesn’t know a thing about cars’!

GM CEO Whitacre receives $9M pay package – Yahoo! Finance.

Check out this video of Obama carrying on about the wall street CEO bonuses, telling them to cut their own pay.

Then watch February news  as he changes his mind……. well, those bonuses are suddenly OK again.    There’s also the pretense from the Obama-press that using stock to pay the bonuses is something new.  Those of us who have ever read business news know better.

Lefties, it appears that Obama is not going to solve your  bonus-envy issues  after all.

Why don’t you go buy some stock in the offending companies and show up at the shareholder’s meetings?