Obama To have a tea party of his own in New York


the weekend there was an impressive turnout of people in Washington DC that estimates numbered at between 60-70,000. Conservatives estimated the number at more than a million but if conservatives could estimate anything or even count, the country wouldn’t be in the economic mess its been in.

that end, President Obama will be having a tea party of his own, today in New York, giving a speech on the first anniversary of the Lehman Brothers collapse.

Obama and the Democratic congress’ Tea Party revolt will be against the non-existant oversight and lax regulations of the previous conservative administration, the one that Tea Party conservatives twice elected to the White House, and their gross negligence governing the country’s investment and financial institutions.

will be promoting stricter regulation of the financial industry and to put in place safeguards so that the abuses Republicans ignored, and the polices they employed that encouraged the abuses that led to the economic crisis never happens again.

not directly related to the deficit, these safeguards will in many ways help reduce it in the long run by strengthening the confidence people will have in the integrity of the country’s financial institutions and that can only help the economy.

These new regulations and their enforcement will effect the health of the economy far more than the conservatives with the Hitler signs and swastikas that show up at Tea Party protests, though to be fair to those who are legitimately concerned about the deficit, the issue does have to be dealt with, Just not by conservatives who caused the problem in the first place and watched it explode during Bush’s presidency and said nothing. Their protests are more about whom is in power and more about politics than the deficit itself.

Today’s Wall Street Tea Party is a Democratic revolt against the past abuses of Wall Street and are designed to ensure that Wall street has no more champagne parties at tax payers expense. And champagne parties were exactly what they were having during the Bush Administration. Obama’s speech and the Democratic initiatives is signla that the party is not only over — that happened a year ago — but that it’s not going to happen again.

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