THE OBAMA EFFECT: TALKS OF RAISING TAXES YESTERDAY; WALL STREET TANKS TODAY

THE LEFT JUST DOESN'T GET IT:
NYTIMES/REUTERS :

U.S. stocks slid in a broad selloff on Tuesday as investors pummeled financials on concerns about a potential government levy on banks.

...President Barack Obama is considering a levy on financial services firms to recoup losses from the Troubled Asset Relief Program as part of the fiscal 2011 budget he will unveil in February, according to a senior U.S. official.

Treasury has provided the White House's Office of Management and Budget with a new estimate that TARP will ultimately cost U.S. taxpayers about $120 billion -- down from a $141 billion estimate on December 6, a government source said. The final estimate is likely to decline even further.

Investors feared that a levy might hurt bank profits at a time when the sector was trying to recover from the financial crisis, analysts said.

OBAMA IS A DISASTER - FOR THE ECONOMY, FOR OUR NATIONAL SECURITY, FOR THE FREE WORLD.


JUST AS WE PREDICTED: LEFTIST POLICIES ALWAYS FAIL.