SOROS’ CURRENT TIES
SOROS AND PRESIDENT OBAMA
In December 2006, Soros met with presidential hopeful Barack Obama in Soros’ New York office. Soros had previously hosted a fundraiser for Obama during his 2004 campaign for the Senate.
On January 16, 2007, Obama announce the creation of a presidential exploratory committee and within hours Soros sent a contribution of $2,100, the maximum allowable under campaign finance laws.
Days after Obama was elected in November of 2008, Soros said in an interview “I think we need a large stimulus package which will provide funds for state and local government to maintain their budgets – because they are not allowed by the constitution to run a deficit. For such a program to be successful, the federal government would need to provide hundreds of billions of dollars. In addition, another infrastructure program is necessary. In total, the cost would be in the 300 to 600 billion dollar range.” Since then, Congress passed a $787 billion stimulus and Obama very recently introduced a $50 billion plan to improve the country’s transportation program, saying “I want America to have the best infrastructure in the world.” http://www.spiegel.de/international/bus ... 68,00.html
In that same interview, Soros called for cap & trade: “I think this is a great opportunity to finally deal with global warming and energy dependence. The US needs a cap and trade system with auctioning of licenses for emissions rights. I would use the revenues from these auctions to launch a new, environmentally friendly energy policy. That would be yet another federal program that could help us to overcome the current stagnation.” Since then, Congress has introduced cap & trade legislation. (More info in “going green” section)
Also in that interview, Soros said “In 2010, the Bush tax cuts will expire and we should not extend them.” Since then, Obama expressed his opposition to the Bush tax cuts in an interview with ABC on September 9th: “All those middle class folks who need tax relief hostage right now in order to provide tax breaks for the top two percent wealthiest Americans, who don’t need a tax break, aren’t asking for a tax break. And you know, if we could afford it, it’d be one thing. But we know that’s gonna cost $700 billion over ten years. And so, that is not a smart thing to do for the economy”
Soros is also on board with Obama’s proposals to reform the banking system. In an interview with the BBC: Interviewer: Now President Obama last week announced some quite radical proposals to reform the banking system. He wants them out of what he calls “proprietary trading”, using their capital to speculate on their own account, and also he wants a limit on their size. Are these constructive measures in your view?
Soros: Very much so these are the right … it goes in the right direction. In my opinion, it doesn’t actually go far enough because it still leaves the problem of too big to fail. In other words, if you let’s say now again Goldman Sachs gives up its banking license, it becomes then an investment bank … (January 2010, http://news.bbc.co.uk/2/hi/business/davos/8485029.stm
Since Obama’s been in office, Soros has made four visits to the White House.
WILL ANOTHER FISCAL STIMULUS BE NEXT?
“The simple truth is that the private sector does not employ available resources. Mr. Obama has in fact been very friendly to business, and corporations are operating profitably. But instead of investing, they are building up liquidity. Perhaps a Republican victory would boost their confidence, but in the meantime, investment and employment require fiscal stimulus,” (Financial Times, Oct. 4, 2010 http://www.ft.com/cms/s/0/61a77634-cfeb ... ab49a.html
)WTFO: "Friendly to business"? If that were true, then businesses would have the "confidence" Soros mentions and the economy would be growing. Obama's federal stimulus has proven to be an absolute failure thus far.