Monthly Archives: February 2009

Re: Obama’s First Prime Time Press Conference

Those of use who oppose the so called “stimulus bill” do not want to “do nothing” We want to do lots of things. We just oppose spending money that doesn’t exist!

Before spending almost a trillion dollars how about trying to cut some of the federal fat? It is imperative that we balance the budget before the value of the dollar becomes nothing!

How about trying to balance out some of our one sided trade deals? A lot of our trade deals have been designed to help countries less fortunate than ours move up in the world – but we’ve given more than we can afford.

The bottom line is that the federal government Does NOT have $850 Billion to spend right now – and it seems to me that the Obama Administration is not considering in the slightest the affect that creating that much money out of thin air will have on the value of the dollar.

The man who campaigned against the “Failed economic policies of the last 8 years” and reiterated that stance last night, has decided that the problem was not spending money that we didn’t have. The truth is that the failed economic policy of that Bush Administration was spending money we didn’t have, and the Obama administration has kicked this policy into overdrive.

Enjoying a Good Laugh…

I find it hilarious that the recent cabinet picks have been giving Obama such fits. It seems that the Democrats don’t take to well to having the spotlight on their activities.

Although in fairness, Barack Obama deserves credit for not doing the politically expedient thing and brushing the tax evasions under the rug, having the Congress rubber stamp his men, and moving on as if nothing had happened.

Still, I’m practically rolling at the fact that the party of taxing the rich doesn’t actually bother to pay their taxes. Paragons of virtue they ain’t. In fact, it turns out that some of them have neglected to pay more in taxes than my net earnings over the past 5 years.

Lets all remember this the next time a Democrat gets up and lectures us about taxes having to be raised for the good of us all.

A Few Thoughts…

Credit to the House Republicans who refused to vote for a bad stimulus bill.  It saves the Republican base the trouble of burning them at the stake when they get home to their districts.  (This is something that Democrats should remember.  Conservatives have a deeply seated philosophical objection to “stimulus” bills and a refusal to support them is not meant as disrespect to the Chief Executive).  It’s a pity they didn’t torpedo the bailout bill when they had the chance.  It was spineless and a betrayal of principle.

I have heard this week that President Obama is a little hot under the collar over the billion dollar bank bonuses – as he rightly should be.  However, had the government done the right thing last year and let the banks go under and auctioned off their assets to the highest bidder (i.e. responsible banks) not only would there be loans going out, the taxpayers wouldn’t be on the hook for the money, and these bozos wouldn’t be giving bonuses out comprised of taxpayer money.

They say that they have to give the big bonuses to keep their best people.  I want to know, are these the same geniuses that suggested buying up securities comprised of loans that were made to people who statistically don’t pay them back?

The bottom line is that the money from the first bailout was squandered.  It didn’t do what it was proclaimed to do.  The naysayers were right.  Obviously, we can’t recover the first $350 billion dollars, it’s gone, and the Treasury department has no idea where it is, the Fed has no idea where it is, and the answer is surely not forthcoming from the banks.  What we can do, and what we must do, is refuse to give any more taxpayer dollars to these boondoggles.   The banks who took the taxpayer money should be audited, and anything amiss should be prosecuted.  Any banks that are put out of business should be liquidated and purchased by banks with responsible management.  With new assets at bargain basement prices, these banks will be able to make loans.  With the market corrected for the grievous gaming that was done in the late ’90’s through the mid 2000s we can move forward.

If, on the other hand, we continue to move foward with the President’s stimulus plan, we will inflate our way out of debt, yes, but we will also have a currency that is worthless.  And while the implications of this are disastrous for us here, the Dollar is held by so many countries and used as a standard in international trade that a collapse of the dollar will throw many countries into a depression and bring the world markets to chaos.

The United States of America must get it’s house in order.  It’s time to balance the budget, and it’s time to address the trade deficit we run with China to mask the costs of environmentalism and all the other isms that the government enforces.  We’ve been living on borrowed time and borrowed money for years.  It’s time to suck it up and act like Americans.