State of the Union
How did everyone like that speech last night? He really believes what he is saying! What is the one thing you would like to see solved,that is not solved?
LoBo The fact that our country just keeps giving more and more money away that we don't have?
Darrin 
JeffersonRepub 
iJay 
Heidi Free community college, lower health care costs, affordable day care, etc....mmm where does the funding come from for these programs? Us the taxpayers. Also president already promises to veto four bills... so much for the parties working together.
mike l I don't agree with making community colleges free. I believe people work harder and have a greater appreciation for things for which they work hard and sacrific a bit. I don't think we need another entitlement program!
FarmerJake "I don't think we need another entitlement program!"
We don't, but how else will they buy all of their votes?
I didn't even watch the speech. I can't stand to hear that man talk. He's either bitching about not getting his way, or snidely talking down to those who don't agree with him - intermingled with a whole bunch of "uh's ah's and um's" and pursed lips.
Mark Mc. I listen to the speech. My leader reassured me that everything is just great. Don't worry about a thing. The economy is picking up.The stock market is on a roll. You have no mores wars. You have health care now. If you have a little trouble with day care ,I will take care of it. If you have a little trouble with student loans, I will give you 2 years College free. You that are on Flipping Burger jobs,I will give you a raise to help along you along with the food stamps and health care
The wars are over, Alcadia is on the run.He is closing that pesky Gitmo. Cuba will be our friend. Go visit them and help them out.
I didn't hear anything about Illegals, or the trillions of debt and the Loss of FREEDOM of choice. That's a minor problem. I will get it from the 1 per-centers. Don't let it brother you
CBYA
Old Gent It was a ok speech just ok words with action are empty words . I am not happy with immigration problums in our country there is the right way to be come a American and the wrong way , and as the free schooling that's ok but there will be people with masters degrees moping floors or diging ditches education needs to be worked for but who am I good government starts at the bottom amd works its way to the top when we go to the freeholdes of our county and say put the sale of warren haven as a question on the ballet so we know what the people want and they say no were not listening to you that is bad government and what do we do come election time but vote them back into office who is at fault we are and thatshows in the vote by low voting numbers if less than 1/3 of voters vote who is at fault we are
Bless AMERICA keep it safe every day
Caged Animal The funds for the initiatives he spoke about would come from an increase in capital gains tax from 23.8% to 28%, closing certain tax loopholes like no capital gains on inherited wealth (pretty much just affects the uber wealthy) and on a tax imposed on financial institutions tied in amount to the amount they leverage themselves. It's all pretty well laid out and available information.
Eperot Has anyone in here been in the position to be the leader of the free world? I don't think its all peaches and cherry especially when a leader must navigate partisan politics to keep our country safe and secure. As our great Lincoln once said " A house divided against itself cannot stand". Our current generation is too engrossed in smut media and conceited images to really grasp the true nature of the world around us. If you dont stand behind and support the idealogy and basis in which our founding fathers established and the US constitution you are free to leave and live in a country of your choosing. Quit your bellyaching folks!
marty mcfly 
outsider How about cutting spending instead of more give away programs for starts. How about accountability in government, how about NOT drawing a line in the sand and agreeing to disagree and finding a middle ground. That was what our forefathers expected when our country came to be....not the " my way or the highway attitude" that has been going n for way too long in Washington. If you ask me they all need to go-term limits for all-and when a new bill is submitted to be voted on-it can only contain 1 subject-no more pork, no more special interest paybacks- it is breaking the backs of the working "FOLKS".
Deanna 
Justintime 
ianimal Justintime ask your brother ianimal for interpretation..sure you can both figure it out up in your tree ;)
Spending can't be cut because an increase in the money supply is needed to keep our monetary system from crapping out. The private sector alone can't grow the economy enough to make the numbers work, so the government makes up the difference. Spending and debt will continue until the monetary system is changed (historically in painful ways). In reality, even when it changes the govt likes easy money so any new system will have the same result.
I just heard the guest of Michele was a fraud. She's a dem campaign staffer who has worked for Patty Murry and others. Pretty much sums up the last 6 years.
Ollie 
Good speech, not great, but better than usual. Shorter too. Nice to be in a "the state of the union is better" position.
Think he pretty well laid out what he won't do; let's see if the Repubs are listening or whether they will go for the sound bytes will DOA bills fired for effect. Based on their official response ---- nope, not listening.
Think he said what he wants to do; I think no more than three proposals could be signed in pretty quickly if Republicans want to look productive. Like the ISIL proposal that should have already been law and a couple of other no-brainers.
On everything else it will be a fight even on tax reform and immigration where everyone wants to get something done but no one knows how to compromise much less work together. And toss in 47 Republicans vying for 2016, and you got a mess. Just like the Republican non-response response responded in a most uncompromising manner .
The "official" response came from newbie rank amateur and veteran soldier Joni Ersnt. You remember Joni of, “I grew up castrating hogs on an Iowa farm, so when I come to Washington, I’ll know how to cut pork" fame. Well, with stick firmly implanted for rigidity, hair helmet attached for unwavering locks, she delivered her rebuttal with a robotic precision that would make HAL sound human. I think she actually added syllables to many words.
Leading off by saying she would not respond to Obama's speech in the Republican official response....... she then proceeded to respond to the speech...... Still wants to repeal ObamaCare, which is really called the Affordable Health Care Act. Think she could have gotten the name right for an official response. If the Republicans want to spend their time on that, I mean actually try to repeal it ----- wow, there won't be much happening in Washington.
Then she droned on about the billions of jobs that would be created with the Keystone pipeline where Canadians pump oil to anywhere but here. Apparently she has not read the news re: oil prices and the looming shutdown of our Western and their Canadian shale fields.......
And then she talked about cutting Pacific trade barriers (is anyone else thinking about that?) and the need to eliminate tax loopholes, talking tax loopholes is very clever since she was agreeing with Obama's SOTU speech to which she was not responding to. Apparently agreeing is not responding.
She did note Obama's stale talking points when not responding to his speech and while basically reading out her points of distinction ------ basically Romney's platform from 2012 are her fresh points.
Meanwhile, having such faith in their spokespersons response, Ted Cruz, the Tea Party, Rand Paul, Carlos Curbelo will do a response in Spanish, and a gaggle of other Republican Presidential wannabes gave formal responses to the SOTU. Joni opted not to respond to these responders responding to the SOTU speech she did not respond to even though she really did.
And the wheel continues to turn.
(caricature from THE GUARDIAN)
mistergoogle MrG..I think you're the only person I know who actually watched it! You're a better person than I am. I couldn't watch. Tired of having my intelligence insulted by listening to the same old same old. If the middle class still needs so much help what the heck has he been doing for the last 6 yrs? I thought he was looking out for the little guy and going to help the middle class.
obama gave a most unpresidential speech last night; pithy, egotistical, and mocking are not signs of a good well intentioned leader,
not even close,
can't wait for regime change in the whitehouse, it's way overdue.
when does he and michele go home to chicago?
BrotherDog 
johnm62 Esperot, I don't know about the inheritance tax just affecting the uber wealthy. What about farm/ business owners. If a farm or business is large, or in an expensive location, it may be worth a good chunk of change, though you wouldn't consider the family uber wealthy. It will just mean people will be forced to sell family assets just to pay taxes when it is transferred. It's nice to say 'tax the wealthy', until you start looking at who gets caught in that wide net. It's also taxing money that has been taxed 2,3,4, or more times over.
I also didn't hear anything about spending cuts. The one thing I did like and hope can come to fruition is spending on infrastructure. We desperately need it.
Billions of jobs Mr. G? It's also a little short sighted to say that oil prices are in the tank, let's not build any infrastructure, no? They won't stay this low forever and it's not like a pipeline will be open the day after it's approved. And even if the oil doesn't all come to the US, it still creates money in jobs, exports, fees, taxes, etc.
MeisterNJ Free community college is a BS move. Maybe 90%, but the student needs to pay something to take it serious versus just a continuation of high school. 90% would be a good idea but where does the money come from?
"If the middle class still needs so much help what the heck has he been doing for the last 6 yrs?"
If you look, you will see plenty. If you can't find it, I will get you the list. While we have some of the lowest tax rates in history, the upper brackets are doing even better. When you look at asset ownership, the upper brackets own more of America then at any other time in history. While Obama has instituted a number of middle class things, the rich have been getting bonus deals. Most tax loopholes benefit the rich and rich companies, not the middle class. The real question is where have the Republicans been for the last 4 years of the do-less-than-nothing Congress. Having set records for doing nothing and then breaking those records, that's where.
"And even if the oil doesn't all come to the US, it still creates money in jobs, exports, fees, taxes, etc."
You are probably right, but not right now since these fields are pumping at a cost way above the current price. The Arabs can keep this up for close to 100 years. Pretty doubtful anyone would invest in this pipeline right now. Jobs -- just for 2 years. As to the rest, I have never seen what we get for oil passing through.
As far as the community college concept, I don't know. It starts with where do you stand on funding education for children. Yes, no? There was a time when we had the same debate about High School; personally it seems like a good idea to fund High School. Question is ----- is it now proper to fund two more years beyond High School nation wide? I would hope that, unlike High School, a sufficient grade is needed to attend and graduate.
To me, the question is does the Tennessee program work? http://www.politico.com/story/2015/01/barack-obama-free-community-college-114094.htmlhttp://www.politico.com/story/2015/01/barack-obama-free-community-college-114094.html
Seems to me, at best, we still don't know.
"Spending can't be cut because an increase in the money supply is needed to keep our monetary system from crapping out."
If it's money supply increase you want, you could create much more, much faster just by changing the excess reserve interest amount. Most of the money created vis-à-vis deficit and stimulus ended up there anyway ------- not in the money supply as you postulate. It's a new economy with some new rules JIT. And ps, spending has been cut.
As far as tax increases, give me a break. Just reinstate the Bush tax cuts and be done with it.
If you have a 529 and are saving for college that will now be taxed. Guess that's part of everyone doing their "fair share."
iJay, that would be your paycheck, my paycheck and all "working" Americans paycheck. I know you know that already. It's so sad (frightening really) that there are Americans among us who really think the Government has a job and makes money. Our Government like any and all Governments are the wealthiest company's in the world. Nothing but greedy rich ba$tards, and they have the nerve to look down their noses to the ones who supply them with their wealth.
auntiel "Free" community college will dilute the AA degree to a basic requirement for a minimum wage job that previously only required a high school diploma. I mean, can you imagine being the kid that didn't attend a free college?! Congratulations, you are now unemployable. On the other hand, if the kid does get his degree, he is now on the same playing field as those that paid for it.
TpnnMrG..I'm only asking because the president campaigned on helping the middle class for the last 6 years and continued with that same mantra Tuesday night. He had both houses of congress for 2 two years what did he do? Nothing to help the middle class. Wages are stagnet, prices on everything are higher, more jobs lost. Oh yes, gas prices are down but that has nothing to do with any of his policies. He and his minions were hoping gas would stay high and go higher as they are in Europe. Oh and the Affordable Care Act hasn't worked out to be so affordable. I'm still waiting for my $2500.00 reduction in premiums.
with all of these veto threats the president has just elevated the democrats to be the party of "NO"
so when congress sends bills to his desk, obama will gleefully become the 'do nothing' president,
the pipeline is a no brainer, should have been passed years ago, should be done asap, but the anti-growth obama would rather pass tax increases, and then rob your children's futures by grabbing your estate after you die,
what is wrong with him?
Here’s something we can do…
Convention of States, Article V in the US Constitution, is a mechanism that the Founding Fathers purposely put in the Constitution as a way for "we the people" to correct a federal gov’t that has overstepped its bounds regarding our lives, liberties and pursuits of happiness. I think a lot of us can agree that gov't overreach into the states and our lives has been happening for decades and it has hit the boiling point. It is OUR responsibility to use the Constitution as our Founding Fathers designed it---for ourselves, our children and grandchildren, etc. You can support the Convention of States by contacting your state legislators and telling them to support a Convention of States resolution. We have to start somewhere.
For info on COS here is the link:
http://www.conventionofstates.com/
Here is the link to confirm who your state legislators are:
http://www.njleg.state.nj.us/members/legsearch.asp
BrotherDog I am really surprised that your in favor of the pipeline it will create virtually no full-time jobs and the oil will not be used in the US tar sand oil when spilled is virtually impossible to clean up but the biggest surprise of all is that your in favor of a foreign company coming into the US and claiming eminent domain on private property owned by American citizens
Ollie, it does not make sense that responsible parents that save every month for the higher education of their child years from now would go back to being taxed.
Obama is trying to make great but fast changes. The problem is that personal accountability and determination have to be part of the equation. Obama only said one sentence about this in an hour speech (from what I recall). I understand that the masses would not want to hear from the President that many of them are lazy and need to get off their asses...
Paul Good pick up Ollie although it was not even mentioned in the SOTU address.
I agree, rolling back the 2001 expanded 529 tax credits is stupid and mean. These are good programs; the fact they are not taxed if used for education is a nice perk; not a bonanza, but nice. There is still risk in these; it's not like we all didn't suffer loses in 2008-2010; but we invest in America, in education, and we because of this, we pay no taxes on the profits. Seems prudent if you believe in education and American industry.
Obama's theory is that only 3% of us have them so small numbers. And 529ers mostly make over $150,000 a year. Well, Mr. President ---- if that means two of us working 60 hour weeks for $75K and spending out the kazoo for child care, etc. etc. etc. to be able to work like that means that we're rich and above it all, you're smoking something.
He also calls for closing Coverdells because he does not know anyone who has them. I had them Mr. President.
Apparently he thinks 529-ers are a small number of voters, most of them Republicans, and has difficulty spelling MIDDLE CLASS. A person making $150K is pretty well off; a family making $150K is most certainly middle class. The problem is the nation believes $100K per family is the top of the middleclass. What does HL think about that???? Is $150K upper class? Is $200K upper class.
Perhaps he thinks his new program will replace the 529; frankly I don't trust him on this.
He did the same thing in the AHCA when he cut the FSA from $5,000 per family to $2,500 figuring that not many of us used them and we were financially sound in his book. We didn't get the $5,000; just the tax break on it if we used it for health care. And if we didn't use it, we lost the principle. No, Mr. President, we were MIDDLE CLASS with higher than average health care costs and the ability to read, do math, estimate, and fill out paperwork. I did not notice my tax break on the $2,500 taken away come back anywhere else in the AHCA yet.
Quit chipping away at the middle of the MIDDLE CLASS by reducing tax breaks on health care and education; get your funding elsewhere. Or at least say it plainly that you think a family making $150K is not middle class anymore.
I urge anyone who has a 529; anyone who aspires to have a 529, to write your President and tell him to find his funding elsewhere.
While I agree with Ollie on this; not so much on the other musings.
when the Republicans were giving their response to the state of the union we heard how poor her family was how she had to wear bags over her shoes so they didn't get wet and how she had to work on a biscuit line. But what she for Got to tell you was her family and her extended family got over $100,000 in farm substitutes from the government and of course now that she and her family.got there's she wants to do away with them
Thank you MrG! There's always common ground somewhere.
I find myself today more worried about our foreign policy. Things seem to be falling apart in the middle east. I afraid that it's not a question of if we will be hit by another terrorist attack just about when and where. Yemen isn't exactly the peaceful place the president spoke about a few months ago. And now the Saudi King has passed. All very unsettling to say the least.
Old Red. Many do not agree with all the Governments give ways but if it's there for the taking, take it. They are going to get back at you one way or the other. Look at the MG rant today. When Government becomes the decider of what is best for you, in the distribution of your labors, one size dose not fit all. Free enterprise has winners and looser that makes for many advancement in the world. Socialist Governments have many rich also, but they are in the powerful positions. Just look who is running the USA today. That was not the dream of our forefather's. Our President always says.WHATS FAIR in his speeches and I say, FAIR TO WHOM !!!. Life is just a matter of survival.
Life is just a matter of survival? WHAAAT??? In America? Completely disagree. For all we complain about, we still have it pretty darn good here. This isn't some war torn third world country with bullets flying over your head and filth/disease running through your water supply. Now THAT is a matter of survival.
$150K for a family is middle Middle Class, I agree with that Mr. G. Especially in NJ. 200K would be upper Middle. Comfortable, not rich. Outside of NJ or major Metros? You're doing pretty well.
Where do I write my government about 529's? Couldn't agree more. Why take that away that small benefit for people? So you can pay for 13th grade for everyone?
To write your President: http://www.whitehouse.gov/contact/
Old Gent refers to my rant, funny guy considering his wandering ramblings disdaining proper use of both language and logic. Although I do agree quite often with snipets from your barrages. But Old Gent, to me --- our taxation system with it's compendium of deductions and credits is meant to garner revenue to support national efforts while incenting what we, the people, decide is in the interest of our nation and society. So, families, kids, education ---- all incented. You may not agree with each incentive, I know I don't, and we may feel some are unfair like the trusts the uber-rich can set up that beats the tax incentives of any 529 hands-down. But I do believe, IMHO that 529's are worthwhile for the people helping the middle class to defray a bit of the expense because they were willing to sacrifice and save for their kids future. I can't even really use them anymore.
As far as government, which is of the people, deciding what you do ---- you can choose not to use 529s. Feel free as I am sure you have been.
Oh yeah, and our current President is not rich and, right now, he is far less than all powerful. Think the word lame duck in a hostile environment would be more accurate. IMHO.
If you already have a 529 you may be grandfathered in. Check that possibility out. I believe the president has one for his daughter's and word is his is grandfathered in. No wonder he could care less.Guess that's what he means by us all playing on an equal playing field unless he's effected by it
You don't have to be rich or uber-rich to set up a trust Mr. G. And what's unfair about a trust? Money has been taxed already, in many cases twice or thrice. Why does it need to be taxed yet again? What about the 100 yr old family farm that is now worth a nice chunk of change, the kids still want to farm but can't because they owe the government %39? On a piece of land that has been bought with previously taxed $$, has had property taxes paid for a 100 years, and has been maintained by farm income that was taxed as well?
Oh yeah, I would expect to be grandfathered. My point is going forward, I just don't trust that the new "improved" system will be as beneficial, competitive and as easy to use. Plus, to me, the beauty of the 529's is they are state-run, and unlike insurance, I can choose the state so there's competition.
And now that the CD interest rate is so pitiful, you can no longer really use that, in your kid's name, to shield interest from taxation so you must totally rely on some non-banking financial investment. Using state managed investment funds seems a little less risky.
Haha. I'll let you know after powerball tomorrow whether I can continue to use it then, ianimal.
The whole issue with 529s is just a proposal at this point? I've been meaning to open them up but have been too busy. Can I still get in under the grandfather clause?
I don't even know what all these money gimmicks are all about. I did not have enough to gamble with. I never invested in the market much. I relied on banks when they were just bankers. I never had IRA's and all these plans you talk about. Most of my jobs had no pension plans. I did have health insurances in most of them which I counted as part of my re numeration. I read all your stories about your investment and struggles to save your investments. That is your choice and society needs people like you to take a chance. It provide Jobs. I lived a simpler life by choice. The most difficult thing for me and you, is trying to figure out what the Government is going to do next to destroy my plans and my choice. I managed to pay all my bills and taxes to this day. My faith is in a higher power, not in mankind. I severed mankind in helping many people in many different ways. Through Gods Grace I have been provided for. His promise is to over come death as an end, Thats where my faith is. His book says the uIber rich (new term) is the most difficult way. I believe Microsoft's founder is showing a way, and that's by his choice.
Notice choice is used a lot in my rant. Thats what FREEDOM WAS all about. IMO
Actually I don't know that educational trusts are evil, unfair or the sole purview of the uber rich. I will have to look but took some MSNBC wonk's word ---- my bad.
But I am sure I will find a prevalence for richer folks to use them.
As far as taxing once, taxing twice --- etc., it depend. The tax many look to escape is on the profits on investments. That money has not been taxed for the recipient.
If you are talking trusts to avoid estate tax; that's another story and again, for the most part, the purview of those a bit wealthier than most.
Here's some fun things we can't do: http://www.accounting-degree.org/accounting-tricks/ Note how trusts come up a lot.
Now to me, one of the worst dodges is the capital gains tax, especially long term. Again, we talking about taxing profits but some political gang of rocket scientists concluded that investors are bold risk takers and therefore deserve less tax because of this bold investment in America. First, you don't have to invest in America to take advantage of the loophole. Second, you tell me who takes more risk: me at the PC buying and selling or the fireman, policeman, coal miner, farmer, etc. It's a completely bogus loophole, but I thank you.
ian - start the funds, one for each kid, it will pay off for your family down the road,
take full advantage of all of your perks in life, lock away right now the maximum amount in your company matched 401k , make adjustments in your current spending patterns in order to fund it fully. manage/adjust/rebalance those investments 3 - 4 times per year, think about some vanguard funds in there
this will pay handsome dividends down the road for your whole family
just do it already
Thanks, BD... why didn't I think of that? (-;
So, you don't know if the cutoff date for opening capital-gains-tax-free-529s has already passed or if I can still get in if I hurry?
Nothing is signed into law, ianimal. And I'm guessing it will take a good long while to be put into law, if it ever does (it is Congress after all). And you can actually put in a good amount of money. Limit is over 100k/year. So, if you want to get in you have time. And any family can contribute to it, so hit up the grandparents.
" . . . if I can still get in if I hurry . . . ."
at this point it's just a proposal from the president during the SOU speech, that's a long way from that to legislation, personally my guess is it won't see the light of day, a very progressive liberal administration is putting agenda items out there to see what sticks, even they know it's a slim shot politically at this point, he's a lame duck, with a congress controlled by the other party, very little of obama's wish list is likely to become law, i think he's playing to his base for props and also trying to get conversations going about it, he knows it's not bloody likely
either way, start the funds, it's a good thing . . . . i can't believe they would retro it to include ones started this year or ones started before legislation gets passed and signed into law,
It's not only that it's just a proposal, the alternative is a tax credit as you spend which would make up for it. That credit is just meant for middle income and lower. (which is why Republicans said before the speech that it's already DOA) It still makes sense no matter what happens or what any new program is.
GC We don't have to wonder how much you have to make to be middle class. Obama defined that for us when he was running for office. Remember the pledge he made to the middle class. "If you make 250,000 or less, as long as I am President, your taxes will not be increased." Of course this is the same guy who promised over and over again that you could keep your doctors, and your insurance plans and that you would see a decrease in your premiums of 1,500 per year.
Indy2 DOA means the president will do it by executive action anyway. That's how he comprises.
Iman: It is a proposal, was not mentioned in SOTU address but is on the Whitehouse web page. When starting a 529, do the web research to see which state is doing the best. It certainly was not NJ in the past. I only had tiny one's in NJ, learned my lesson almost fast.
For 401's: I say go as deep as to can up to the corporate match point; not necessarily the max. After the corporate match point, you may want to consider other options since once its in the 401, it doesn't come out without a penalty and you are trapped into buying the vehicles offered by the fund. There might be better places to put the extra cash you would have put in a 401 once you reach the top of the corporate match. First, max out you and your's IRAs and then invest those funds anywhere you like. Yeah, you still have the penalties for early withdrawl, but now you're free to invest in the free world. Second, consider long-term (greater than a year) investments which, sure, are taxed, but up to 20% lower than normal income. And that money is very accessible. There's other places, like gifting to kids who won't pay taxes until they make a lot of interest, which is more attractive if CD interest rates ever come back.
Looks like the president dropped his brilliant idea of taxing 529's. Must have been bad when Nancy Pelosi comes out against it. One win for the American people!
Well I knew that email would do it :>)
Fact is President and staff were confused by fuzzy math. I think they looked at the value of 529's where the rich reap the greatest benefit at 80% of the value of all funds. But the number of account holders skewed in the direction of those making less than $150K per year at 70% of the account holders and many at the $50K level, up to 10% of the fund holders. At 7 million holders, 70% is a nice voting block.
I applaud the President for attempt to close tax loopholes favoring the rich like rolling back the Bush tax cuts for the wealthy, removing the capital gains loophole to treat gains like what they are ---- income, taxing off-shore investment shelters, but you can't use fuzzy math. The Bush tax cuts are a sizeable portion of the deficit and debt for example. But you have to look at value and the demographics of those affected. If he had wanted to remove the 80% of the value favoring the rich, who obviously will invest more in these funds, then he could have lowered the maximum annual cap, problem (if there is one), solved. But having screwed the pooch, he probably can't do that now.
Also, these funds must be used for education or be taxed so the fact that the rich have more just means they will spend more on education which, IMHO, probably helps everyone. Like perhaps making scholarships for the middle class more available (if there are more rich paying a higher fare).
So a good thing and I heartily recommend all folks with kids who can spin some savings, use them. Just be sure to research which fund, which state to fund in, and then have some fun-d :>) FYI --- my long-term funds starting well before 2008 have averaged about 10% profit per year; before 2008 they were at 12%, so not to bad and not to bad a hit for the recession although taking withdrawals around then was a bit painful.
I just changed my investment choice from a poorly performing fund to a mix S&P 500 and a growth fund. 4% wasn't cutting it. I should have done it sooner, but NJ's plan didn't offer much choice until recently. They seem to have stepped up their game.
I just read that Obama himself contributed a 'jumbo' 240k to a 529 plan for his daughters in 2007, which is allowable as long as you don't make any more contributions for five years (Forbes). Nothing like taking advantage of something and then slamming the door behind you. Is he really that detached?
MeisterNJ, I believe he is. Or more likely not looking out for the middle class as he claims to be.
I pretty much explained the whitehouse fuzzy math rationale for the stupidity of looking only at total value of the program which is overwhelmingly skewed to the rich versus looking at total subscribers in the program the vast majority of which are middle class. Thee whitehouse clearly stated it's original intentions, it's stupid fuzzy math logic and now has seen the error of their fuzzy math and reversed course. Obama putting in $240K in 2007 and deciding to gut the program because it only serves the rich is not detached ----- he would have been classifying himself as rich.
Also, there's going to be replacement programs; my issue was I liked this one and dis not want to risk it for something unknown, something new if I didn't have to. Who knows, the new ones might be better and all this moot.
I hope the whitehouse sees their error in the fuzzy math in the implementation of Obamacare. So far the numbers aren't adding up. I'm sure someone will reply that's it's called the ACA. Call it what you want it's not affordable or caring.
It's detached in thinking that he's crusading for the middle class now and punishing the rich, AFTER he got his (while really punishing the middle class more). It wouldn't affect him because he got in while the getting was good. So he acted rich, then wanted to punish them when it doesn't affect HIM by changing the rules. That is horrendous leadership, or lack thereof. Do as I say....
"Is he really that detached?"
yes, he really is that detached, non-plussed, non-involved, and cannot see past his own doorstep,
really , really poor excuse for a leader, not presidential at all,
obama is the worst president in our nations entire history, worse than carter, worse than nixon. (this in my opinion, your mileage may vary depending on how foggy your PC glasses are)
many who voted for him twice are experiencing buyers remorse. but sadly there is no return policy other than impeachment which ain't gonna happen.
and for the record it really is 'Islamic Extremism' that we are facing, not a bunch of 'Lone wolves', i mean gimme a break already, quit playing with the language and all the nonsensical parsing of the verbiage, it makes him look even more detached, and that's not good.
we need to call things what they are, and Obama himself encouraged all of us to call his signature achievement, "Obama-care" , that's the way he wants it.
btw, the do nothing party of no that the democrats and Harry Reid presided over is gone, the senate voted on several amendments yesterday, working on bills together like they are supposed to, thanks Harry for staying home and sitting this one out,
Obama worse than Carter, Nixon ---- give me a break. And notably left out BUSH.
But I do bemoan Presidential recommendations for a 7% spending increase due to shrinking deficits. Hello ---- you changed the rate of increase --- a deficit is a deficit and did you happen to notice the debt and the debt/GDP ratio? Give me a break.
Another Presidential bonehead recommendation: suggesting ending the sequester cuts. They were there for a purpose, the debt, and the purpose is still HUGE.
Perhaps gamemanship, but our kids future is not a game, the debt is too high, spending is too high, and the economy ain't that robust. Time to start paying the piper Mr. President.
Meanwhile --- Republicans vote for Keystone Pipeline; investors say they will go ahead. Guess they didn't notice the Yellowstone leak; rocket scientists put pipeline under water, pipe line broke, water is frozen ----- we'll get to a clean up in the Spring at which point the stuff will be rolling down the river for how many months? Brilliant!!! People drinking bottled water. Yippeee. Meanwhile, did anyone notice we are using foreign oil and not using Keystone Pipeline or any shale oil??? The economics of producing it are to operate at a loss and would be the investment in a pipeline to ship oil that loses money. Sure, the investors are gung ho, and then they're gonna go Ray Rice on us and take the approval and wait, and wait......
Then they move forward the Iran sanctions bill, another slap in the face not to mention a silly idea at this time.
OK, if this is one of the first bills passed, and the forwarding of another, by the "we gonna work together kumbaya Congress," I think we know where we're headed. Talk about detached from reality and entrenced in some whacko principalled-based do-nothing fuzzy logic. See you in two years for the next installment of how to get paid for doing nothing.
Right. "Worst president in our nations (sic) entire history. BD, CVS called, your meds are in.
1. Passed Health Care Reform: After five presidents over a century failed to create universal health insurance, signed the Affordable Care Act (2010). It will cover 32 million uninsured Americans beginning in 2014 and mandates a suite of experimental measures to cut health care cost growth, the number one cause of America’s long-term fiscal problems.
2. Passed the Stimulus: Signed $787 billion American Recovery and Reinvestment Act in 2009 to spur economic growth amid greatest recession since the Great Depression. Weeks after stimulus went into effect, unemployment claims began to subside. Twelve months later, the private sector began producing more jobs than it was losing, and it has continued to do so for twenty-three straight months, creating a total of nearly 3.7 million new private-sector jobs.
3. Passed Wall Street Reform: Signed the Dodd-Frank Wall Street Reform and Consumer Protection Act (2010) to re-regulate the financial sector after its practices caused the Great Recession. The new law tightens capital requirements on large banks and other financial institutions, requires derivatives to be sold on clearinghouses and exchanges, mandates that large banks provide “living wills” to avoid chaotic bankruptcies, limits their ability to trade with customers’ money for their own profit, and creates the Consumer Financial Protection Bureau (now headed by Richard Cordray) to crack down on abusive lending products and companies.
4. Ended the War in Iraq: Ordered all U.S. military forces out of the country. Last troops left on December 18, 2011.
5. Began Drawdown of War in Afghanistan: From a peak of 101,000 troops in June 2011, U.S. forces are now down to 91,000, with 23,000 slated to leave by the end of summer 2012. According to Secretary of Defense Leon Panetta, the combat mission there will be over by next year.
6. Eliminated Osama bin laden: In 2011, ordered special forces raid of secret compound in Abbottabad, Pakistan, in which the terrorist leader was killed and a trove of al-Qaeda documents was discovered.
7. Turned Around U.S. Auto Industry: In 2009, injected $62 billion in federal money (on top of $13.4 billion in loans from the Bush administration) into ailing GM and Chrysler in return for equity stakes and agreements for massive restructuring. Since bottoming out in 2009, the auto industry has added more than 100,000 jobs. In 2011, the Big Three automakers all gained market share for the first time in two decades. The government expects to lose $16 billion of its investment, less if the price of the GM stock it still owns increases.
8. Recapitalized Banks: In the midst of financial crisis, approved controversial Treasury Department plan to lure private capital into the country’s largest banks via “stress tests” of their balance sheets and a public-private fund to buy their “toxic” assets. Got banks back on their feet at essentially zero cost to the government.
yankeefan "And now you know the rest of the story."
+1 yankeefan
But what about............
Meanwhile the TeaParty House of Misrepresentation for 2014 goes down as the least productive in history narrowly beating the former worst peformers, the TeaParty House of Do Less than Do Nothing of 2013. These folks could live soley on Taco Bell and still not pass gas.
Yay! Finally, stemming the tide of nonsensical legislation - about friggin' time!
(That's actually an illusion, but I'll take it anyway lol)
How about this for a recommended course of action misterg?
http://www.gpo.gov/fdsys/pkg/BILLS-114hres41ih/pdf/BILLS-114hres41ih.pdf
Makes for an interesting read :-)
Well it was short and sweet with most being a redundant reitteration of the obvious having nothing to do with the law proposed. Whether the Nation is liable for the States' pension funds should have nothing to do with the state of the Nation's current debt (like the wording :>)
As to the liability: like the bank's, except for national security reasons, the nation has not reason to bail out any single state. And when they start to go belly up, it will be up to lawmakers to determine whether our national security is at risk becasue of it. Currently when the pension funds go belly up, and NJ's underfunded pension is prime, there is no safety net for this terrible debt. Zero, nada, none. In their brilliance, the all the state's did not envision an issue of banruptcy so did not create an insurance fund, like, say the fund that is MANDATED to protect insurance companies from going belly up. You know, insurance for insurance. Or the fund that protects private pension funds. Insurance for pensions. Probably a law made them do that.
Does not matter, if any of these types of funds hit the skids in a big way like the banks did, the funds would never cover anyway. The Pension insurance fund for example can handle a few companies, but would never sustain a tsunami like 2008. Which is why I converted mine to cash. Darn that Obama and his stimulus.
So again, IMHO, the FED has no liability for the state's financial woes except in the cases where national security might be put at risk. Thus, precluding the FED from steppinng in, by law, would seem to negate that possiblity even in the event that national security is at risk. IE ---- 25 states went pension-belly-up and the Fed could do nothing, would the resultant social unrest be more harmful than a bailout?
So I would not favor this law although I do not favor bailing out the state's either. But would like to reserve that right until I see how large the tsunami of failure is.
"And when they start to go belly up, it will be up to lawmakers to determine whether our national security is at risk becasue of it."
Not sure, but that almost reads like a full acceptance that the current (primarily monetary) *system* is flawed and broken and will ultimately fail unless the underlying elements are addressed. If so, what's the reason for perpetuating it via more and more and more and more and more and more and more and more spending propped up by the corresponding debt that *must* go along with it (regardless of whether it's public or private debt)? Status quo is fine - no one likes change, I get it - but IMHO controlled change, even if a little painful, is much better than debilitating change which is likely, as history has shown for every single civilization in recorded history (mostly manifested in wars).
"25 states went pension-belly-up and the Fed could do nothing, would the resultant social unrest be more harmful than a bailout?"
Absolutely. The problem is, I'm not sure that it won't happen anyway as a consequence of all the other problems created from unrestrained economic policies. BTW, this is a bit of an aside but the likelihood of increased social unrest and shifting power bases was also a topic at Davos this year (I know, take if for what it's worth).
Additionally, I didn't say I was in favor of the resolution, although I definitely lean in that direction. I posted it because some of the "actions" by Congress, IMO, should be toward reeling in past transgressions, not pushing new and "improved" ways to just spread money around - money that ultimately goes to the ultra wealthy anyway.
Hmm, not exactly a rosy outlook but you know me and my fascination with trends ;-)
Still going on about the teaparty MrG? I think they must worry you a bit. If they are such a group of misfits why do you have to keep bringing them up. It's gotten old just like the democratic play book
"Not sure, but that almost reads like a full acceptance that the current (primarily monetary) *system* is flawed and broken and will ultimately fail unless the underlying elements are addressed."
Not sure how that relates to states not funding a known liablity creating bad debt. Think bad borrowers exist in any economic system. Based on the nonsequitur, I will let the rest of the pargraph go since we've seen it, felt it, been there before....
25 states.....as a consequence of something else..... Absolutely. Just like the double failure Bear Stearns and Lehman banks could never have caused the Great Recession except for all those other consequences in process. Tha fact is we have a lot of financial dangling chads with a continued weak national and world economy. Too many underfunded state pensions; private pensions too however Bush did do some shoring up there and there is a insurance fund.
I am usually not for unilateral black n white economic laws made by people that have little idea of possible cause and consequences. Like I said, in this case, imagine 25 states worth of almost and retired public employees were told "you gonna starve." Is that worth not having a short term fund bailout with the state having to repay with a little interest? Shouldn't we make that decision as we see the breadth of the catastrophy rather that use a preordained script? As much as I loathe the current Congress' inablity to act, adding decision shakles for an unknown problem seems imprudent. However, I am for a balance budget for the moment ------ yet here I would say with a given time period for an extension vote and tied to a GDP/debt series of metrics versus a Constitutional amendment. Therefore, if times turned great, the law would not hamstring us. And we could review at a point in the tuture as to extension, by law.
" If they are such a group of misfits why do you have to keep bringing them up."
I think you answered your own question.
I asked you? If the are such a bunch of goopers why keep giving them the time of day?
I don't know, why are you?
I was discussing the topics noted above, one of which is Congress where the Tea Party is still relevant, unfortunately.
in reality the party of no was headed by the democrats in harry reid who refused to post bills for a vote, thereby becoming obama's veto by proxy
the republicans passed hundreds of bills in the house that dirty harry would not post for a vote in the senate thereby insuring that the president would not have to get out his veto pen.
now that obama's insulation (in the form of harry reid) is gone, he will become the leader of the party of no, and will be revealed as such openly as the current legislative sessions get ramped up in the new year
president obama is a do nothing kind of guy who prefers the company he keeps on the golf course to the business of the people who he was elected to represent.
it's way past time for more reasonable democrats to make their voices heard loud and clear. come guys, stop the insanity, wake up and smell the coffee, i'm begging you . . . . . . (you all should have voted for mitt when you had the chance, now we have to suck it up for two more years, sad really, so thanks for nothing on that one)
First off, it's not hundreds of bills passed, it's 129 by the 113th. The larger numbers include bills from other sessions. Second, the process calls for bills from the House to the Senate to enter committee where they are studied, modified, held or moved to vote. Guess where most of them are. Committees are bipartisian, although subject to the ratio's of the Senate (or House), but they are not Reid's desk. Plus, the fact they did not proceed is not statistically abnormal when compared to other Congress'.
What is different is that the House is unproductive. Unproductive both in qanitity and quality. They neither produce equivalent bills to past sessions of Congress, and what they do pass does not have the "quality" to make it to law. Maybe they think it's grand, but apparently most of the bills passed are not good enough. They have trouble getting hits, and when they do, most are singles at best. Very few bills make it home.
Plus, many of the bills are repeat offenders: multiples for pet projects like Keystone pipeline or the over 50 repeals of the AHCA.
The Senate is none too productive either. However most bills historically start in the House, and all revenue/appropriation bills start in the House. Many times the house originates more than double the bills by the Senate. The 113th House, whose tail is wagged by the Tea Party, ranks the poorest when it comes to any metric of productivity. http://www.washingtonpost.com/blogs/the-fix/wp/2014/08/08/yes-the-senate-is-ignoring-hundreds-of-bills-passed-by-the-gop-house-but-its-always-that-way/
So, as far as Reid blocking hundreds of bills ---- just not true. He has slowboated some, but no where's near hundreds: http://www.politifact.com/truth-o-meter/statements/2014/aug/06/lynn-jenkins/rep-lynn-jenkins-blames-harry-reid-do-nothing-sena/
It will be interesting to see how the new RED team does. So far, one of the first bills served up is DOA, having been telegraphed the answer, they passed it anyway. Keystone, which is more symbolic than tangible at this time, will be votoed, won't be overturned, and so here we go.
reid provided cover for obama, by not posting bills for a vote is in effect a big 'NO',
reid also had large influence over the committees, using chucky cheese shumer and his ilk to do his 'dirty' work by quashing bills, so they don't come out of committee, in total over the dreary tenure of our current president they number in hundreds easily, (100's of bills, all quashed by the democrats who are the party of no)
the house during obama's tenure has sent hundreds of bills to the senate that have been quashed by harry reid and his committee chairmen, this is the truth of it. the democrats are the real party of no. No compromise. No votes. No bills, and if bills do get to the presidents desk, then a big fat NO by veto, signed by the leader of the party of no, Obama. He has to own this, and we have to hold him accountable.
this is the truth of if, wake up and smell the coffee,
obama has already said NO over and over again using the threat of veto.
but guess what? bills will be presented to him and the president will have to take a visibly recorded stand and own his NO-compromise, NO votes, he will be shown as the leader of the party of NO.
get real already ,
"reid provided cover for obama, by not posting bills for a vote is in effect a big 'NO',"
Again, this is just not true. See above for sources or perhaps, source some facts yourself.
"reid also had large influence over the committees,"
Maybe. Prove it.
"the house during obama's tenure has sent hundreds of bills to the senate that have been quashed by harry reid and his committee chairmen"
Again, see above for numbers and statistics show this just not to be true.
What is true, statistically, is that this house produces less bills and is incapable of producing more than a few bills that can become law.
And to say that Obama will show his colors when he veto's bills that he said in the SOTU address in front of all America and both chambers of Congress that he would veto while asking unbelievers to wake up and smell the coffee -------
They are just wasting our money playing for the pundits savoring the sound byte.
It's time to get something, anything ---- accomplished.
Perhaps a better start would have been to initially focus on common ground bills of which there are a handful than starting with sticking fingers in the President's face when he told you he would veto. Then you might have put a couple of the unsavories in after actually accomplishing something. But noooooooooooo.
The funny part is Keystone will never be built until the price of oil changes. According to supplies, that's a few decades away. Until the price changes, nothing will happen except the finger wagging in Congress on behalf of who -------- Congress.
BD, does that number include the 50 or so times your party of yes has attempted to repeal the AHCA? You are really taking revisionism to a new level....
Seems like we're getting back to the kids fighting in the candy store again, arguing over which flavor is better, which of the smaller kids to bully, which ones to steal from, who to bribe with favorite candies so they'll be on their "side", etc.
Why is there no room for talk about just getting rid of the candy? Or are we destined to be locked forever in a battle of greed, continuously arguing over the pettiest of things just so we get one more piece of candy than the next guy?
as i said and the links support - hundreds of house bills sent to the senate: Hundreds - and they got quashed by the Democrats led by Harry Reid with assists from chucky cheese shumer and little dicky durbin via the committee process:
Have 352 bills passed the House but await action in the Senate?
Basically, yes. We used the THOMAS congressional database to pluck out the 733 measures that have passed the House so far this year. We then weeded out a few categories of bills -- ones that, for procedural reasons, were never intended to go to the Senate (such as election of the Speaker, assignment of lawmakers to committees, and procedural motions) or ones that were subsequently taken up by the Senate (either being passed or rejected).
What remained were 342 individual bills. That’s 10 fewer than what Jenkins claimed, but we have no quarrel with her number, since the difference likely stems from additional bills being passed in the couple of days between when she spoke and when we looked through the database.
http://www.politifact.com/truth-o-meter/statements/2014/aug/06/lynn-jenkins/rep-lynn-jenkins-blames-harry-reid-do-nothing-sena/
politifact confirms the number: " What remained were 342 individual bills. . . ." "we have no quarrel with her number,"
as i said, the senate democrats are the real party of 'NO'
BDog: well I am glad you finally got around to reading the source material I posted versus just winging it.
However, perhaps next time you want to read the entire piece; often you find the conclusions at the end.
"Our ruling
Jenkins said that in the "do-nothing Senate," there are 352 House bills "sitting on Harry Reid’s desk awaiting action," including 55 introduced by Democrats.
In some cases, committee chairs -- not Reid -- may be blocking or moving slowly on these bills. In other cases, senators are working on their own alternative bills on the same topic. Meanwhile, the claim oversells the degree of bipartisanship in the House; a majority of the Democratic-sponsored bills she cites are relatively minor pieces of legislation.
Ultimately, Jenkins places all the blame on the Democrats and the Senate, but experts agree that it takes two to tango. Both parties and chambers have played a role in creating the current legislative dysfunction. On balance, we rate the claim Half True."
Half True my friend and totally untrue that it's Harry Reid himself, personally squashing each and every bill. Chances are, you'll find, dare I say it, Republicans blocking as well.
Not only is the Harry Reid fable BUSTED but if you read the other source, you will see it's not unusual to have this many bills floating at any time in the nation's history.
Matter of fact, if you go farther back, you will that that this cumbersome, tedious, process that the minority can stall the majority before laws are made is EXACTLY what the founding fathers intended as in WORKING as planned.
What is different is not the total level of the lake, but the quantity entering from the House which is low. and the quality entering from the House which is shat-poor. In other words, these Tea Partiers pass less bills, but more importantly, they pass a minscule number of bills that have any chance of passing into law. They can not compromise on anything and are extreme in everything.
I see now what you like them.
Meanwhile, Harry Reid does need to go, but not for you invalid reasons.
politifact confirms the number: " What remained were 342 individual bills. . . ." "we have no quarrel with her number,"
democrats are indeed the party of 'NO'
"Why is there no room for talk about just getting rid of the candy?"
i agree with this JIT, there is plenty of blame to go around, for sure,
i get tired of the democrats repeating the same lies over and over again (the do nothing congress)
like that explains things; and as you and i both know, it doesn't;
the big lie technique (gobbles) employed over a long period of time seems to shape the 'truth as we know it', and some folks repeat these lies over and over again to the point where it becomes 'common knowledge', but it is actually untrue as i have pointed out above. and the article gives support for it, as they describe how the democratically controlled senate worked to stymie and hold back Republican initiatives while at the same time blaming them for 'not doing anything' , and the press picked up on it and had a field day with blaming the red state Republicans for the whole mess, ('they don't do anything, all they say is NO')
repeat over and over and what do you get? a brainwashed public, who thinks the lie is the truth, but in reality it isn't the truth
and too many here in NJ bought it, hook, line, and sinker, just review mg's posts to see how badly he's been brainwashed by a corrupt media machine and his own desires. like feeding time at the frickin' zoo serving up red meat
and the president is getting a free pass on all of this by a complicit media and a blinded group of sycophants who refuse to hold him accountable for anything,
hary reid and his allies , schumer, durbin, boxer, feinstein, mc caskill, and others squashed hundreds of house bills on purpose, to protect the president and their senate majority, hundreds of bills sent to them by the house, just as i said, and politifact confirms,
the real party of No is the democrats, refusing to negotiate, refusing to post bills for a vote, refusing to let them get out of committees, (that's all negative stuff btw, it's a big fat NO from the libs), and it's time to hold both parties accountable to the same degree,
as politfact reported; "it takes two to tango "
i'm just eviscerating the continuing narrative that has history wrong on this issue
its about time somebody did,
wake up NJ! it's time to look a little deeper into things around here.
Amazing in all this you all missed Obama going completely off the reservation into left field with wild abandon.
His $4T budget is a joke and worse than the Tea Party pushing the Keystone project up his pipeline. If meant for gamemenship, deal brokering, or firing a shot across the bow ----- it's bad form all around We need serious financial discussions with serious leadership. This is a joke.
Then his proposal to end the sequester cuts is a hypocritical two-faced lie much bigger than his AHCA lie. He calls them a really bad idea. Perhaps yes, but they were his idea. The fact that the Republicans could not fathom how to take the cuts intelligently with targeted cuts (go figure on a lack of intelligence), and instead opted for the law's mandatory across the board stupid meat cleaver cuts, (more their style and math abilities), notwithstanding, to back off the cuts as some sort of bargaining chip adds insulting to his spend-happy joke of a budget.
Instead of creating the scenario for useful financial budgeting discussions, all Obama did was unleash the dogma's of war from the left and the right with the same ole tired rhetoric.
"Being President of this country is entirely about character........(Obama's) problem isn't that he doesn't get it. (Obama's) problem is that he can't sell it! We have serious problems to solve, and we need serious people to solve them."
Too bad he opted to play the Washington game once again by the same old Washington rule book instead putting something out there straightforward, clear and concise. You know, walk softly and propose a doable budget.
And nothing happens for yet another two years.
Politic's today, is a career (no term limits). The two parties are fighting to see who controls the funds. ( very little difference between the parties.) They lie to us and we accept it ( the lessor of two evils). We The People gave up the control of government by allowing, government to take control of our lives with the cry (for the common good) become a way of communal life with less responsibility's.
We are now to the point that,(he with the most money wins control). JR's upside down flag.represents the loss of (Freedom of choice). This was not the dream of the founding fathers. They didn't want to be like Europe. (but we are). Only a few of us are really informed and concerned. (A 50% vote is considered great number) The Press ,is opinionated to each party. Investigation and fact is hard to find for the few of us concerned. They look for the gotcha moments. It was a great experiment but, to much responsibility for citizens to handle. IMHO
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