Debt Relief & Management

Posts Tagged ‘Barack’

Obama paid off by Mortgage Company Giants during the melt down.

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Is Bill Clinton withholding his endorsement and sulking until Barack Obama repays Hillary Clinton’s campaign debt?
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Though Hillary Rodham Clinton racked up more than $30 million in debt during her Democratic primary campaign, she could emerge from her loss with a bundle of campaign cash to either play kingmaker or mount another campaign of her own.

At her disposal are a handful of accounting maneuvers — some never before tried in presidential politics — that would render her political debt practically insignificant, while at the same time freeing up $24 million in currently off-limits cash, according to interviews with her lawyer and outside campaign finance experts.

Enhancing her flexibility is that all but $1 million of her $9.5 million in unpaid bills at the end of April was owed to allies and political firms unlikely to cause her legal or political headaches by demanding prompt payment.

In fact, their umed — but unspoken — cooperation is a key part of the New York senator’s most likely path to robust campaign finances.

That financial path would go something like this: Reclassify as a contribution most of the $11.4 million or more she loaned her campaign, which would be a personal financial hit because she wouldn’t be able to recoup much of it. Ask her donors to redirect $23.7 million they gave for her presidential general election campaign to her Senate campaign committee.

Meanwhile, try to raise some fast cash — possibly with istance from her vanquisher, presumptive Democratic nominee Barack Obama — to pay off vendors who might sue her presidential campaign, leaving “friendly” debt to be paid down gradually as she raises money from her Senate perch.

A riskier route would be to ask her general election donors to redirect — or “redesignate,” in campaign finance parlance — their general election contributions to Obama’s presidential campaign as part of a deal under which the Illinois senator would ask his donors to give to Clinton to help her pay down her debt.

The most aggressive approach would be to redesignate the general election contributions to her Senate committee, transfer her debt to the same account, and then use the general election contributions to pay off the debt.

There’s a budding debate in the campaign finance bar about the legality of such of a maneuver. Some contend it would amount to illegally “laundering” general election contributions to pay off primary election bills. But others ert a 30-year-old Federal Election Commission decision regarding “surplus” campaign cash allows flexibility in the brave new world of privately financed presidential campaigns.
http://www.politico.com/news/stories/0608/11020.html

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Ok so times are hard, maybe Antans next song might help cheer you up this Christmas!

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Click more info http://www.NelsonIdeas.com http://www.PartyTentCity.com Stimulus Thoughts by Bob Click http://www.youtube.com:80/watch?v=7k5CV4OVAIk I would suggest you use your Stimulus Package to Jump Start The Economy and Create more manufacturing jobs. Just spend your check at Wal-Mart where you can get most everything made in China. By spending your stimulus package you will keep the economy in the USA growing. It will help get the get the USA out of trillions of dollars of debt. It will keep the USA from going into a depression with the rest of the world. Have you seen the movie I.O.U.S.A. It is a real mind opener.
I am really getting excited about getting my stimulus package.
I will take my USA check down to Wal-Mart.
I will buy as many things as possible, even if they are all made in China.
This will create manufacturing jobs for the people who make the products
I buy.
This will help jump start the USA economy.
It will help cut our national debt.
I want to help to get the USA economy going and create more jobs.
What are you going to do with your stimulus package?
Comment below.
Brian Nelson, Houston, Texas 713-467-3025.

Economic Stimulus Act of 2008 and Section 179
In order to address concerns regarding a slowing economy, President Bush asked Congress to come up with an Economic Stimulus Plan that will benefit both consumers and businesses, and Congress responded with a comprehensive economic stimulus package.
On February 13, 2008, President Bush signed H.R. 5140, otherwise known as the Economic Stimulus Act of 2008. The Economic Stimulus Act immediately grabbed headlines because most Americans would receive a check for $600 from Uncle Sam. While the Economic Stimulus Act is a boon for consumers, there are significant benefits in the Economic Stimulus Act for businesses as well.
In fact, Small Business stands to benefit a great deal from the Economic Stimulus Act of 2008. This is because the Section 179 Deduction limits have been generously increased, and small businesses across the country will reap the rewards.
How your business will benefit from the Economic Stimulus Act of 2008
The Section 179 Deduction has been significantly enhanced by the Economic Stimulus Act of 2008, and has given businesses an incentive to invest in themselves by purchasing or leasing new equipment.

The specific impact the Economic Stimulus Act has had on the Section 179 deduction is related to the dollar limits of the deduction. The previous dollar limits were a $125,000 limit on the deduction and the total amount of equipment purchased could not exceed $500,000. The Economic Stimulus Act raise these limits significantly. The new deduction limits are $250,000 on the deduction, and the total amount of equipment purchased cannot exceed $800,000.

To recap the new limits:
2007 Deduction Limit: $125,000
2008 Deduction Limit: $250,000
2007 Total Amount of Equipment: $500,000
(deduction decreases dollar for dollar after reached)
2008 Total Amount of Equipment: $800,000
(deduction decreases dollar for dollar after reached)

Bonus Deduction
Another change that the Economic Stimulus Act of 2008 brings to Section 179 is it offers a one-time bonus first year depreciation of 50% on qualifying equipment. This is after the above deduction limit is reached.

In other words, if you buy enough equipment to exceed the $250,000 deduction, you can take a bonus 50% depreciation on the rest this is in addition to normal depreciation

Everyone Benefits
Most small and medium-size businesses will find these new dollar limits generous indeed. The Economic Stimulus Act is going to help consumers, and it will also significantly help most small businesses as well by lowering the cost of equipment that they need to purchase or lease to run their day-to-day operations. The Great Depression was a worldwide economic downturn starting in most places in 1929 and ending at different times in the 1930s or early 1940s for different countries. It was the largest and most important economic depression in modern history, and is used in the 21st century as an example of how far the world’s economy can fall[] The Great Depression originated in the United States; historians most often use as a starting date the stock market crash on October 29, 1929, known as Black Thursday. The end of the depression in the U.S is ociated with the onset of the war economy of World War II, beginning around 1939.
The depression had devastating effects in virtually every country, rich or poor. International trade plunged by half to two-thirds, as did personal incomes, tax revenues, prices, and profits. Cities all around the world were hit hard, especially those dependent on heavy industry. Construction was virtually halted in many countries. Farming and rural areas suffered as crop prices fell by roughly 60 percent.

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After 17 months of directing Operation Hillary, the would-be commander-in-chief is confronting some serious debt. $22.5 million of it. According to a report by the Federal Election Commission (FEC) released Friday, Clinton owes $10.3 million to everyone from printers in Iowa to caterers in Pennsylvania to Mark Penn’s consulting firm in D.C. She’s also down the $12.2 million she personally loaned her campaign.

http://blogs.tnr.com/tnr/blogs/the_plank/archive/2008/06/25/choose-your-own-debtventure.aspx

Faced with a campaign debt of over $20 million, Hillary Clinton discussed the issue with her former rival Barack Obama ahead of their first campaign appearance together to project Democratic party unity. The two spoke by phone Sunday night, the first time the likely Democratic nominee and his former rival have exchanged words since their private meeting in Washington weeks ago before Clinton conceded defeat and endorsed Obama. They discussed retiring Clinton’s campaign debt, a conversation Democratic sources cited by ABC called “constructive”.

They also discussed their forthcoming joint fundraising appearance in Washington on Thursday and the first campaign appearance together appropriately in the small town of Unity, New Hampshire, Friday. Though the former first lady won the New Hampshire Democratic primary, the two received 107 votes each in Unity. More on the US campaign trail

Clinton conceded the Democratic race to Obama June 7, just four days after splitting the final two primary contests in South Dakota and Montana.

The pair held a secret meeting in Washington at the home of Senator Dianne Feinstein, a Clinton supporter, prior to Clinton’s concession but had not spoken since that time. Battle for the White House

Besides talking to Obama, Clinton Monday turned to her supporters for help in settling the well over $20 million in debt, nearly half of which she loaned herself personally earlier in the year when her campaign was virtually broke and faced life-or-death primary contests.

Under campaign finance laws spearheaded by current presumptive Republican nominee John McCain, Clinton must pay herself back before the party’s convention in late August, or else she is only allowed to receive $250,000.

In an e-mail to supporters, Clinton says she “has something I want to say,” and directs readers to a Web video in which she says “Today, I still need your help.”

The video reads: “By helping us pay off our campaign debt, you’re not just helping Hillary elect a Democratic president and grow our majority in Congress. You’re making it possible for her to work as hard as she can on the issues we care about.”

Clinton also continued to praise onetime rival Barack Obama, saying she knows the Illinois senator shares the same goals as she.

The Obama campaign is reportedly open to helping Clinton raise money to pay off her lingering campaign debt, though no agreement has been announced yet. Under campaign finance laws, the Obama campaign is not allowed to retire Clinton’s debt directly
http://sify.com/news/fullstory.php?id=14701275

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