Finance


News stories today are speculating that in order to balance this year’s budget that the Massachusetts state legislature is considering cuts to local aid to cities and towns. This action, if taken, would be yet another hard slap to the face to the taxpayers in the Commonwealth.

Why?

Because the individual taxpayers fund the madness that is administered by the solons on Beacon Hill. Without us taxpayers — the proverbial money tree — the legislature wouldn’t have any resources to codify their grip on our fine state. Without our tireless financial contributions via income and sales taxes, how would our elected betters pay for the patronage jobs they dole out to family and friends? How would they fund their pet projects? How would they fund their pay raises??

So many questions, so little time.

But decreasing local aid without undertaking dramatic cutbacks and reorganizations of state government would be a hypocritical step. After all, where would the shortfall from state local aid reductions come from? In a word, taxpayers. Local real estate taxpayers. The same folks who pull cash out of one pocket to feed it to the state (and to the feds) are the same folks who’ll have to fish around in the other pocket for the “missing” money. Yes, we are the money tree, whose fruit is always hanging from its branches. There is NEVER a time, at least to politicians, when the money tree lays bare and there is no fruit to pick.

Well, I’m here to tell my august legislature that the money tree is bare. Buck nekked bare. Lying fallow, waiting for nourishment before it will blossom again. And, oh by the way, not waiting for the “fertilizer” that it is constantly fed by craven politicians. Where there was once easy pickens, there is none.

What can’t our “representatives”, who are supposed to be in touch with their electorate, understand this simple fact? Why must we be once again insulted and affronted with the threat of the loss of local aid, given the amount of revenues (of all kinds) that the state collects from us citizens. This constant threat of local aid cuts, BEFORE a single cost cutting measure is implemented in the hierarchy of state government, is getting to be a tired threat.

And I guarantee a threat that won’t elicit fear, but ire. If local aid is cut in Massachusetts, without a significant cut in the state’s budget elsewhere, then I GUARANTEE that it will be an interesting election season this fall. I promise that I will work tirelessly to “retire” those gutless legislators politicians who take this opportunity to push the “Easy Button” (apologies to Staples!) in lieu of doing the heavy lifting that we hire them to do. We’re all tapped out, and we’re not going to take this abuse of government any more. We may not look angry, but I assure every single one of you on Beacon Hill that we are. And our displeasure will be recorded on the first Tuesday in November.

So, follow through with this scheme to reduce local aid at your own political peril. You have been warned.

Let the games begin!

It’s probably not the first time and probably won’t be the last time that we’ve heard that the government, namely the president and the Congress, is lying to us.

But this time we’ve got irrefutable proof staring us in the face. And this isn’t proof like the ginned-up climate data that is being used to relegate Thomas Edison’s light bulb to a distant memory. No, this proof is the craven manipulation of the cost of health care costs by the Senate in order to make these costs appear in a favorable light and to gain acceptance of this plan by the American people.

But, as my dad used to say on many occasions (and I apologize for the profanity):

You can’t shine shit.”

Dad was an armchair pragmatist and although he wasn’t a particularly worldly man, he was able to in his words “see through” the obfuscations and lies from others, particularly politicians. So, if he were still with us, Dad would have seen clear through the pile of nonsense being dumped upon us by Harry Reid and his cohort Democrats and media minions.

Back to the proof of a lie for a moment. Jeffrey H. Anderson, a Senior Fellow at the Pacific Research Institute came up with a handy-dandy chart of the CBO’s projections of the cost of the Senate’s version of the health care bill. You can view it HERE. And you can view his op-ed piece on this issue in the New York Post HERE. I suggest that you print out the chart for future reference as it is a staggeringly reprehensible example of just how far the Democrats will go in order to achieve their Holy Grail of social engineering, universal health care for Americans. it seems that no lie is big enough so long as the ends justify the means.

Back to the chart for a moment. Please notice that in the first four years of the “reform”, from 2010 to 2013, that there is little outlay (according to the chart, less than 1%) in funds. However, in the fifth year, 2014, and beyond, the real costs start to kick in and grow ever-increasing thereafter. See, the big lie here is the “cost” that Sen. Reid (et al) is proffering off to us as the real cost of this plan: We will begin being taxed from year one, but we will receive no benefit from this “reform” until that fifth year, 2014. So, for four years, there will be that measly 1% revenue outlay that skews the final ten-year average that is being bandied about by Reid. The cost number Reid is trumpeting is $898 billion dollars — a number he claimed was deficit neutral. But he knows this is a lie! He knows that the real cost is northward of $1.75 trillion, and it will add to the deficit as surely as I’m typing these words.

But the $898 billion is a phantom cost — as evidenced by the four years with little or no bars on the bar chart during the CBO’s cost analysis. The real cost, as rightly claimed by Mr. Anderson, occurs using data from 2014 and beyond. This brings the cost of this “reform” to over $1.8 trillion and, more importantly, adds to our astronomical deficit.

Now, I disagree with Mr. Anderson as to when the true cost of this “reform” should be calculated. If you look at the costs of years 2014 and 2015, you will see that they are ramping up, and by the year 2016 and thereafter the per-year cost is at its final value. So, I propose that the 10-year cost average be used on the years from 2016-2025. This result is even more disastrous for the Democrats in their quest for control over our lives — as this number comes to over $2.25 trillion dollars. But at this point, this is mere quibbling because by then we will be in so  much trouble debt-wise, that the difference in the two averages will be virtually meaningless.

So, how does if feel to be lied to and manipulated by those who are otherwise supposed to be our representatives and advocates in Washington?

The phony cost number that Reid is using and the manner in which it was determined assures me that our elected officials see us as a vestigial nuisance in the political process. And they view us with utter contempt. Our votes are coveted, but our concerns and questions matter less to them than their partisan political plans and ideologies.

When all is said and done, this is our health care and well being that they’re playing with here — and it’s our money that they’re using to bankroll their schemes. Being lied to about the cost as though we’re uneducated, ignorant naifs is galling and ire-producing, at least for me. If Harry Reid were honest and above-board and if he truly cared about the American people and, furthermore, wanted an informed electorate, he would have produced the chart that Mr. Anderson did. And let the political chips fall where they may.

But he didn’t do any of those things, and for reasons that are blatantly obvious when you view the cost chart. His actions (to obfuscate and distort the real cost) were both a kick in the teeth assault on the American citizens and an insult to our collective intelligence.

And, yes, a bald faced lie.

Get ready world!! the Spin-O-Meter is ready to go to work!

We are going to see MAJOR LEAGUE spin and BIG TIME damage control of the “science” of global warming and of certain scientific reputations in the wake of the revelations of data rigging and scientific shenanigans that the recently-pilfered e-mails and files from the CRU in the UK have provided. Remember, there’s a lot at stake…trillions of potential dollars and Euros, so the global warming proponents aren’t going to go down without a fight…and a lot of help, sympathy and support from the like-minded mainstream media.

Also remember that a discredited global warming theory makes a LOT of “eminent” scientists and politicians look like morons! Oh yeah, and let’s not forget the culpability of the mainstream media, who bought this whole load of pseudo-scientific tripe hook, line and sinker without so much as a file folder’s-worth of skepticism and investigation.

Just check out this “story” from the AP that interviews a “key” scientist who cranks the scientific and political spin-o-meter to almost full scale:

Key scientist says politics behind stolen e-mails

Now, if I were born yesterday, I would normally assume that the title of this article referred to the duplicity and scheming of the climate “scientists” as revealed in the pilfered e-mails from the CRU. But, alas, the AP is not your typical “news” organization any more. This once fine news reporting agency is now a collection of “opinionizers,” and collectively they have revealed themselves over the past 5 or so years as ideologically corrupt an outfit as you will find in the media. So, the AP’s story doesn’t focus on the incendiary nature of the CRU e-mails and the worldwide political implications…no, no, no…they focus on the outrage of this “key” climate scientist, Kevin Trenberth, who by the way was one of the authors/respondents of the e-mails in question.

By his own words in those e-mails, Trenberth is shown to be less than reliable as a “key” and more importantly unbiased climate resource…and anything that the man now says should be regarded with skepticism until he and his cohorts at the CRU are investigated and either cleared or jailed.

So, good work AP! Fine investigative reporting. You’re certainly getting to the bottom of this scandal!

I say, let the games begin! Let’s see if (now what appear to be) corrupt “scientists” and politicians can explain and legally defend their way out of this mess to our collective satisfaction as taxpayers who have funded much of this foofarall. Let’s also see massive government investigations begin worldwide into these e-mails, and the allegations of collusion and data fixing that they seem to support. Let’s investigate all those involved, scientists and politicians alike…and let’s take a closer look at the AP for good measure!

I’ll tell you something, if I were in the shoes of a lot of prominent scientists and politicians right now, I’d be pushing the panic button!

The Panic Button!

Seriously, though, as a result of this brewing scandal, I think that President Obama should not even consider attending the now-tainted, upcoming global climate change summit in Denmark. If he negotiates anything that could or would throttle our economy down due to emission strictures now that the foundations of the global warming theory have been called into question, then he would do the citizens of the United States a great and damaging disservice. He would be negotiating treaties and promising actions be taken on a (what seems to now be) flawed set of assumptions.

But isn’t that what the present moral bankruptcy and political corruption in Washington DC are all about, anyways?

I’m sure that much of the legislation dreamed up in Washington DC is well meaning and intended to do good for us citizens. Regardless of how well meaning and intentioned the laws are, many (if not most) of these laws fall prey to The Laws of Unintended Consequences (TLUC.) We have laws that were passed that were supposed to help people but end up causing misery or headaches. We have laws that were supposed to save money when enacted years ago, yet they now cost us plenty — without questioning or revision by legislators.

See, once a law is on the books, it is rarely revisited for efficacy or reviewed for cost-effectiveness. Also, with the exception of tax cuts, laws are rarely time limited. In fact, I can’t think of a single spending program that has time limits attached to it.

Two examples of government programs created by well-intended legislation are Social Security and Medicare. But they are programs without end. They are programs that are failing. They are, I declare, the government’s “Big Lies!”

Right now Social Security has an unfunded liability is $17.5 trillion, in perpetuity, and that of Medicare is over $74 trillion, for a combined total of over $100 trillion. These are big numbers indeed, and I agree that they are unsustainable. To give you an idea of how big these number are, the nation’s total private net worth is estimated to be $52 trillion. As it stands, the unfunded portions of Social Security and Medicare are approximately twice the private net worth of the citizens who fund it via taxes! These aren’t so much programs as they are the most enormous Ponzi schemes in the history of the world.

So, how does the government intend to “fix” the Medicare shortfall? President Obama and the Democratically-controlled Congress would like to put in place a system of socialized medicine. They would like to model a new, Byzantine system on that of the UK or Canada. They tout that this highly-regulated system would reduce costs over time (except, according to the non-partisan CBO their plans don’t!) and make the medical care experience more efficient and patient-centric.

Except they leave out a salient detail: costs are to be saved predicated on services that are not delivered. What does this mean? It means that panels of medical “experts” will sift and sort through treatments and determine which are the most effective and which may be prescribed by your physician. If a treatment for you, at your age, isn’t determined to be efficacious, then you will not get the treatment. Simple as that. You might grow sicker, suffer and die, but costs will be contained!

Nice plan, huh?

There are so many other problems with the health care “reforms” currently under consideration in the Congress that are worthy of concern and consternation by individual Americans…do the research for yourself. In essence what the President and the Congress are attempting to do is change the paradigm of the entire health care industry (which is approximately 12% of our economy to help clean up mess created by TLUC. So rather than revisit Medicare and/or Social Security, and make honest, sweeping and painful changes to these programs, it is preferred that the entire American populace will be subjected to new and highly restrictive health care rules.

Remember, misery loves company!

It is the general belief of our political betters that not only wealth must be shared, but so must pain be shared as well. Heck, this is America…isn’t that the American way?

Uh, NO!!

We are all bound together by our Constitutional responsibilities. We are not yoked together by the oppressive caprice of our ersatz “representatives,” who care more about their prospective re-elections and pandering to wealthy special interests — whether they want us to believe we are or not.

We can act like our wallets are bigger than our hearts. We can enact sweeping social programs that will eventually enslave us all with taxes and ensnare us all in their inadequate services. Reality says our generosity must be bound by the wealth and resources that are available. If we wish exorbitant taxes and lousy programs that simply do not deliver the services that they promised, then let’s keep on traveling down the road that we are on, and have been for the last 70 years or so. I’m convinced that this road will lead us straight to Hell!

Because we can legislate only so many things, but they are dictated by reality and common sense, and we can never legislate or predict the final outcome or destination.

No matter how much we wish or how big our hearts are…

A: When it is hastily crafted and it contains more provisions to placate organizations who Obama and the Democrats owe political fealty to like unions and ACORN, rather than to serve as actual jobs creation legislation.

Oh yeah, did I mention that nary a single Democrat who voted for this turkey legislation actually read the (at the time) bill before they voted for it.

Well, we’re now witnessing first-hand that the so-called “Stimulus” legislation is not creating jobs as it was originally advertised. In fact, the Obama administration, starting at the top, is now backpedaling on this deficit-busting measure. That’s right, “Honest” Joe Biden recently let slip, as most Americans had suspected, that the Obama administration screwed up big time with regards to the stimulus. The following is an excerpt from an interview that Biden gave to George Stephanopoulos while Biden was on a recent junket to Iraq:

“The truth is, we and everyone else misread the economy.

“The truth is, there was a misreading of just how bad an economy we inherited. Now, that doesn’t — I’m not — it’s now our responsibility. So the second question becomes, did the economic package we put in place, including the Recovery Act, is it the right package given the circumstances we’re in? And we believe it is the right package given the circumstances we’re in. We misread how bad the economy was, but we are now only about 120 days into the recovery package. The truth of the matter was, no one anticipated, no one expected that that recovery package would in fact be in a position at this point of having to distribute the bulk of money.”

“So, no second stimulus?” asked Stephanopoulos.

“No, I didn’t say that,” Biden said. “I think it’s premature to make that judgment. This was set up to spend out over 18 months. There are going to be major programs that are going to take effect in September, $7.5 billion for broadband, new money for high-speed rail, the implementation of the grid — the new electric grid. And so this is just starting, the pace of the ball is now going to increase.”

Please note that what Biden said in Iraq was a candid admission that the administration didn’t have a clue just how bad a state that the economy was in when it pushed the $787 billion stimulus legislation…and then ramrodded it through the hapless Congress.

Now, what Biden said is a tacit admission of ineptitude…but the hubris-soaked Barak Obama cannot stand to make an admission of error or be seen as making a mistake. So, after Biden’s candid admission…the President went out on interviews to do some damage control:

“I would actually — rather than say misread, we had incomplete information,” President Obama told NBC News’ Chuck Todd. “What we always knew was that a) this recession was gonna be deep, and b) it was gonna last for a while.”

“There’s nothing that we would have done differently,” Obama said in an interview with ABC News. “We needed a stimulus and we needed a substantial stimulus.”

Responding to critics concerned about the mounting defecit with little results to show for it, Obama said there were “legitimate concerns. In the midterm and long term we’re going to have to get control of that. The question that some have argued is, ‘Okay, what next? Maybe you stop the freefall but you still have close to 10% unemployment,’ And you know, this is something that we wrestle with constantly … [W]e inherited a big deficit, and it is at a certain point potentially counterproductive if we’re spending more money than we’re having to borrow.”

It should be noted that both Obama and Biden are still using the red herring of “inherited economy” to bolster their case that they did not fail. Nice try at misdirection (and a craven rekindling of Bush Derangement Syndrome), but we’re trillions of dollars deeper in debt due to the actions of THIS administration…with several new economy-busting pieces of legislation currently under consideration in the Congress. And we’re still showing no signs that the “stimulus” is putting people to work and helping our economy to recover.

It’s time for the administration to admit their failure…and to just declare this to the citizens of the US. Obama and the Congressional Democrats need to fess up and admit that their “stimulus” was an attempt to pump tribute to their supporters under the guise of economic recovery and jobs creation, but it achieved feckless and flaccid results.

We (not Obama and the Congress)…we spent a lot of money on this craven attempt at political boosterism. And our return on our investment thus far has been ineffectual. We don’t have any of our elected representatives stepping forward to take the blame in the same manner that they did for passing this insane legislation. Shouldn’t we expect an adult leading us who understands where the buck stops?

Aren’t we at least owed the truth?

Why is the Dow Jones Industrial Average sitting above the 8300 level today? It can be summed up in two words made popular by Alan Greenspan back in 1996 — irrational exuberance.

The DJIA sank to sub-7000 levels a little over two months ago, and there hasn’t been any rationale for the rise to almost the 9000 level recently. The very structure of our economy and our debt has been damaged and in need of major repair. And the tinkering done by Obama and his co-conspirators in the Congress has only made a tottering economy only worse. Passing half-assed legislation and saying the economy is getting better might be self-ingratiating for Obama, but it is nonetheless wishful thinking on his part at its best.

Right now the Dow is being propped up above the 8300 level by pure, unadulterated greed…investors in search of a glimmer of profit. Any good news is greatly amplified and suddenly spawns a 150 point DJIA rise. However, in one breath Obama wants to make our financial system less dependent upon the Dow, but in the next one he touts how the Dow is rising over his latest hair-brained scheme and that the “Good Ship USA Economy” is paddling furiously out of troubled waters.

Well, I think that the “good” news is finally over, and the irrational exuberance has finally run its course. With the Democrat-controlled Congress dangerously tinkering with health care and now (probably) are going to mandate compensation in the financial industry, we are in precarious times indeed. I think even the mooniest of moonbats see that there is only so far that the government can go before it has reached too far. And in a little over 100 days of his presidency, we’ve marked that point under the “leadership” of Obama.

The dopes in Washington think they can legislate good times. But they don’t realize that every single penny that they spend comes from us, the private citizen taxpayer, or from business, unless they just print it from blank paper? Businesses are in business to make money and to turn the largest profits possible for their stockholders in the case of public corporations or for their owners in the case of private ventures. I think Obama and his minions have stumbled upon the very best way to tamp down free enterprise, initiative and commerce with their TARPs and stimuli…and their budgets. And I think that big business, particularly the multinationals are just starting to realize this fact. Don’t be surprised to see historically American corporations take up roots and move to a venue that promises to be more tax friendly than Obama and the commissars in DC are crafting the US to be.

I still predict Dow 5500 and a national unemployment rate of 10.5% before this is over…and that might coincide with the end of Obama’s one and only term as president. I beg you to remember that the current set of Democrat Congressional fools had the crying towels out constantly for the “burdensome” and destructive deficits that Bush supposedly ran up, which I remind you were less than a third of those already put in place by the newbie President Obama. So, to our collective dismay, they aided and abetted the Bush administration in the first place…and have now facilitated and perpetrated the greatest transfer of wealth ever in the history of mankind. Two wrongs, it appears, do make a right…if only in Washington, DC!

I firmly believe that Obama and his cohort may have grievously and perhaps permanently damaged our country’s economy and its ability to recover from this spending-spree madness. Time will tell, but it’s like skipping through the graveyard in the mean time. There is only so much wealth out there, and the dishonest and disingenuous Democrats have used their crises well to burden our system with utter nonsense in terms of social programs and give-aways.

I don’t think that Americans can or will stand to pay for or bear this nonsense much longer. And, unfortunately, with all that has transpired on the legislative front, it might just be out of their hands to do anything about it.

“Pay no attention to the man behind the TARP!”

You know that the acronym TARP is a pretty transparent moniker for the financial institution bailout program. Because I think that TARP really isn’t an acronym at all, it is a description for the literal shroud that was placed over the bailout process by the Fed. Perhaps DROPCLOTH, DRAPE, COVERALL, CURTAIN or CLOAK make lousy acronyms, and that TARP won out because the catchy “Troubled Asset Recovery Plan” phrase could be fit into the word.

But regardless of the words that make up the acronym, the program is nothing more than a cover for the for the politicians who got us into this financial mess in the first place with their tinkering. It’s a stratagem, a ruse, to divert attention away from them and place it on the financial institutions who followed the dicta of the federal government to the letter — making more and more and more unsustainable housing loans and mortgages — and then suffered the unintended consequences of this action.

TARP was a way for the Congress to say “We screwed up, big time” without ever having to speak those words. Because everyone knows that the Congress NEVER makes a mistake. It only creates programs that need “tweaking” and perpetual incremental financial support because things “change.” TARP was a way for the Congress to literally and figurative take cover for their cockamamie plan to increase home ownership to those who could never, under any circumstance, afford to own and maintain a home. TARP was a way to divert attention away from the well-intentioned but fatally-flawed Community Redevelopment Act, whereby financial institutions were encouraged to loosen their lending requirements to the point of fiduciary irresponsibility in order to make the social tinkerers in Washington, DC feel as though they had made a meaningful change in our society. This was meaningful change, but as we all know now, at a tremendous cost to our country.

So, as the Congress crawls under their TARP, which has a whole laundry list of problems on its own, we taxpayers are left with the check. We’re left with the check as we are with every other boneheaded, Robin Hoodian, socialist program that the Congress in all its rose-colored glasses donning, vote-grabbing frenzy can foist, either “for the children” or “for the good of the people”, upon us.

Except this time the check has a lot of zeroes on it…almost too many for the check we’ll be writing to contain. This check is for trillions of dollars: Some real cash as far as I’m concerned. But hey, it’s the 21st century and I guess I need to update my thinking in terms of all things financial. A trillion is the new billion, so I need to get with the program. And why am I worried after all? It’s not like I or any of my contemporaries are going to be footing this dine-and-dash induced tab left to us by our clever pols. Uh, uh. It’s going to be our children’s children’s children who all will be cranking open their wallets, big time, to pay for this folly and excess in our time.

So hey, why just leave our progeny dusty old monuments to long dead patriots and a working, sensible infrastructure when we can leave them a mountain of historical, self-serving debt?

To do something that utterly foolish would be so 21st century of us.

There was a way that the Obama administration could have chosen to forcefully fix the current financial crisis, but unfortunately it would have required something in short supply in Washington DC — actual political courage. President Obama could have implemented a 6 month payroll tax “holiday”, which would have acted as a genuine stimulus to the economy. Real people who earn actual money would have essentially been given anywhere from 30-50% more earnings in their paychecks. Can you imagine the spending that would occur if real-life taxpayers were unleashed with this extra cash?

Some critics, like Senator John Kerry (D-MA) have said that we citizens wouldn’t spend this windfall correctly. We would save it or pay down debt, etc. We wouldn’t be able to do the proper stimulus job that the government could accomplish.

Huh?

Can you imagine if there were millions upon millions of taxpayers and homeowners who would possibly use this money to have renovations done or additions to their homes built…or simply if they went out to dinner a couple more times a month? The effects of this spending would “marble” though our economy. The ripple effect would be unmatched by any pork-laden government spending that seeks out special interests and lines their pockets. Rather than doubting the power of individuals to save our economy, our government should be actively soliciting our participation. Instead, we get humiliated and insulted by the “rebates” of $400 per person (you know, the vaunted $13 per week that will rescue us from financial chaos and ruin!), which are essentially a temporary loan to ourselves because the tax tables weren’t changed…just the withholding tables, and temporarily at that.

Now, if Obama and the Congress were to have let loose the economic behemoth that is the American citizen instead of insisting upon the cleverly disguised power play they called a “stimulus” package, then we would already be feeling the effects of the action. People have lives they want to lead, and there is a greater sense of urgency in a personal need than there is about some ginned-up government spending program. Simply put, people will spend their money just about everywhere they can — from the mom-and-pop local market…to the big box mega-store…to their mortgage company…to the car dealership…to vacations…to everywhere and anywhere! The government isn’t the engine of the economy, they are a governor or throttle on it! Taxpayers and citizens with cash are the ONLY way that we can get out of the present crisis.

But, there’s another reason that the Obama administration didn’t propose this tax holiday, besides the blind hubris that grips our politicians in Washington. That would be the fact that if the electorate, particularly those who pay actual taxes, were to get an entire gross pay check’s worth of cash, even for a short period of time, then they would see for themselves just how much they pay to the government each pay period. The scam that is payroll deduction would be exposed and how! Do you really think that Obama would risk a tax revolt at the same time as this financial crisis? Because he would get one just after the tax holiday once folks were inured to seeing their higher pay during that time period.

Right now, the government relies on the “outta sigh, outta mind” sentiment that most folks succumb to while leading their busy lives. Payroll deduction allows the government to confiscate your hard-earned pay BEFORE you’ve had a chance to handle it. We all know why that’s done…to insure a known, predictable revenue stream, and so the government doesn’t have to chase around millions and millions of tax delinquents. They way things are presently done, the government doesn’t have to ask you for your money so that they can do this or that, they just take it!

So, Obama would have to have been crazy to have proposed and then implemented this payroll tax holiday. To administrators and legislators eager to appropriate our hard-earned money, the possible interruption of this political nourishment would be unacceptable and frightening. Imagine for one moment if the people had tacit control over our own government, instead of being treated like wage-serfs with open wallets?

But I submit that if Obama had done this, he would have been crazy like a fox! He would have struck upon the ONLY way that our economy could be rescued in a timely manner.

By the will of the American people.

Dollar SignsThere is a fine, fine line between boldness of actions and insanity. I fear President Obama, in what may be the most hubris-filled presidential actions ever witnessed by the American people, may have crossed that line.

It is one thing to try to “rescue” the economy with a “stimulus” package that will likely slide us deeper into the economic abyss. It’s another thing entirely to submit a budget that is the fulfillment of a decade’s long Democratic party wish list. What the heck, they’re gambling the the house’s money, right?

But Obama has been put into the performance crucible with his recent election as president: For a guy who got away with voting “Present” for most of his political career, this is quite a shock to his ingrained sensibilities. So what has he done? He’s reverted to form!! He’s embraced the “you can spend your way out of any crisis” philosophy with vigor and gusto. And he’s never met a Democratic social program or possible government entitlement that he hasn’t warmly embraced. He’s actually slipping from the role as Commander-In-Chief into that of Robin Hood and Santa Claus all wrapped up in one package. Or perhaps he’s just going for President Bling-Bling.

I bet he doesn’t, for one single moment, believe that all this nonsense spending and proposed tax increases on “the wealthy” are going to pull us from the grips of ruin and then cut the federal deficit. He’s counting on the normal economic forces that drive our economy to pull us out. Period. And then he can claim “Victory,” whatever in the heck that will be.

Rep. James McGovern (D-MA) has euphemistically called the overtly-larded stimulus plan a “tow truck” and Obama’s new budget “nourishment.” I respectfully beg to disagree! The stimulus does have a chain coming from it to our economy, much like a tow truck. But instead of a wrecker on the other end, there is a HUGE ANCHOR that will weigh our country down, and future generations, for a long, long time. And the new budget is anything but nourishment to our country. Nourishment would imply something that is required to sustain our country, and furthermore do it no harm. However, Obama’s new budget is unashamed Democratic, earmark-laden gluttony: It is a feeding frenzy feast of pork combined with an entitlement food fight that will, again, saddle the American people with a debt that must be paid long after Obama and McGovern have retired from DC with their swank pensions and other perks.

But I guess that’s what happens when you play with the house’s money. You get money for nothing, and your drinks for free! And then the rest of us poor saps get to clean up the mess!!

HR1: The American Recovery and Reinvestment Act of 2009, otherwise known as the 2009 Obama Stimulus Plan, is the height of contempt and disrespect by our elected leaders towards, us, American citizens. And by citizens I mean legal, taxpaying American citizens.

This so-called recovery and stimulus legislation has more partisan entitlement candy and rewards for their core constituency than it does actual economic “stimulus.” The simple fact that this legislation was proposed in the first place, straight-faced, by the Democrat leadership indicates either how dumb they think we all are or how much in contempt that they hold us.

The key precept of this legislation was to give the US economy a temporary shot in the arm. It was meant to get infrastructure and government spending into the economy quickly in order to bolster the expected natural recovery cycle of the recession. In short, it was meant to help the ailing economy get the sniffles rather than the full blown flu.

I’m not going to list all the partisan goodies and pork in this recovery legislation (if you want some light, bedtime reading you can peruse it for yourself HERE), but suffice to say that the ratio of immediate spending to longer term spending (of questionable value in aiding the actual recovery) is less than 50:50. That means that 50% (and probably more by some economist’s analyses) is being essentially wasted on programs and spending whose intent is to grow the size of the government and reward Democrat-leaning special interests. When we expect our hard-earned tax dollars to be spend in our best interests — frugally and wisely, meaning benefiting everyone, then this legislation is both an insult and a slap-in-the-face.

What I do know is that this verbose legislation (at well over 400 pages) was intentionally meant to bog down and confuse any person with the initiative to read it through. It was also intended as a vehicle to implement sweeping government programs that are intrusive into the personal privacy and liberty of most US citizens. As such, we citizens expect (or should expect) that measures like theses would be proposed as stand-alone legislation and not as part of a all-or-nothing stimulus bill. Additionally, we citizens should expect that stimulus legislation should only benefit legal US citizens. But this legislation ignores our economic pain and includes “rebates” and giveaways for illegal aliens.

The way in which this legislation was structured was meant to pull the wool over our collective eyes. Our representatives think we’re morons, and by the looks of this “stimulus” bill, we probably are! This legislation is more of a personal and party self-aggrandizement exercise by the Democrats. After all, who could possibly NOT vote for their generous benefactor(s) and government goody givers? Can anyone say quid pro quo?

Even though it passed in the House, I was heartened to see that all the Republicans and 11 Democrats stood on principles in the face of almost withering pressure for “bipartisanship” and “swift action” and voted against this turkey. Rather than being purely partisan opposition, I believe that the Republicans just couldn’t hold their noses long enough to vote for this bill just for the small portion that is actual stimulus. Rather than politics, it was an act of courage by the Republicans opponents (and even more so by the 11 Democrats in their opposition.)

It is unknown if this measure will gain approval in the Senate, even in the face of many controversial provisions being stripped out to make it more palatable for Republicans. However, a vast amount of waste and frivolous spending still resides in this package. I hope that the Senate Republicans and Democrats also see this legislation for what it is, a pork-laden insult to the American taxpayer. Exhortations and coercions by the majority leadership, collegial sentiments and cordial orations cannot make this bill anything but what it is: A travesty unworthy of support from our legislators and a craven power play from a self-proclaimed uncorrupted political party.

I think all Americans will remember all those who supported this legislation, and they will “un-elect” them at the next opportunity that presents itself to voters.

« Previous PageNext Page »