Sunday, January 31, 2010

TARP Cop: Some Bailout Goals Still Unmet - TARP Cop: Some Bailout Goals Still Unmet

The government’s top bailout cop said Sunday that more than a year after the financial crisis hit, many of the goals of Washington’s $700 billion bank rescue program remain unmet and that policymakers still have not addressed fundamental problems that triggered the crisis, leaving the financial system vulnerable to another collapse.

My Thoughts
Most economists will say the same thing, "The recession is over." I disagree. I believe that we are still in the midst of it and it will get worse before it gets better. Why do I say that? Simple. The government continues to tinker in the free market system and it will cause the problems and allow the economy to founder.

So far, unemployment remains over 10%. It is only after the loss in Massachusetts and the growing dissatisfaction of the people with Washington's failure to address the unemployment rate. I talked with a friend of mine at Dell. He told me that 120 people were laid off in his area alone and walked out the door this past week.

Can anyone explain to me with the President's new rhetoric on jobs why this is occurring? With companies dealing with more and more government involvement in their business processes, I believe they will continue to lay people off and outsource their jobs. As I mentioned before, I am not for completely deregulating an industry. I believe the government has to be there to maintain some control. However, it needs to know when to do things and when to remain hands off.

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Wednesday, January 27, 2010

Stimulus Bill to Cost $75 Billion More Than Expected, CBO Says - Stimulus Bill to Cost $75 Billion More Than Expected, CBO Says

The whopping $787 billion federal stimulus package passed by Congress last year is now expected to cost $862 billion over the next 10 years, according to the Congressional Budget Office.

In a recent CNN/Opinion Research poll, 56% of Americans oppose this plan. In March, 2009. 54% supported the plan. Oregon is using the stimulus money to create more government jobs.

My Thoughts
In my humble opinion, the stimulus package is a failure. It was touted as the plan to keep unemployment under 8%. Unemployment is at 10+% and underemployment is 7%. Every supporter of the stimulus package says the same thing to defend it. "Bush caused all of these problems and we have to deal with it."

I believe both parties are to blame. By growing the federal government to astronomical proportions, we will see out of control spending and more government intervention. Don't get me wrong. I do believe there are times when the federal government needs to regulate.

However, a government needs to recognize its place. I am a very strong believer of states' rights and the 10th Amendment of the Constitution of the United States. If the government cannot figure out its place, we should help them by voting them all out of office and starting over from scratch.

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Thursday, January 21, 2010

Edwards Admits Fathering Love Child, Reportedly Separates From Wife - Edwards Admits Fathering Love Child, Reportedly Separates From Wife

After months of denial, former presidential candidate John Edwards has admitted fathering his former campaign videographer's child.

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Senate Democrats Propose $1.9T Increase to U.S. Debt Limit - Senate Democrats Propose $1.9T Increase to U.S. Debt Limit

Senate Democrats on Wednesday proposed allowing the federal government to borrow an additional $1.9 trillion to pay its bills, a record increase that would permit the national debt to reach $14.3 trillion.

My Thoughts
To even consider this during this juncture shows poor judgment and tells the American people that they are poor stewards of our money. Remember, it is our money that we pay to the government in taxes.

In almost every household, families run their budgets on a cash basis. They don't use deficit spending to buy things. If they want something, they save for it or decide it isn't something they really want.

With credit card debit decreasing on a monthly basis, Americans, I believe, have learned their lessons. Most of my unemployed friends say the same thing. "We are not going back into debt anymore. We have learned our lesson." I just wished the government learned its lesson about spending.

With our debt mounting and our credit score at risk, I think Congress would be silly to even suggest this as a solution. The Democrats will probably starting whining about how we are in a war that is costing us billions a month. We will hear the whole laundry list of people to blame. Stop blaming people and work the problem! Cut back on the programs! Let the states deal with social programs. The states are capable and closer to the issues of their people. They can certain provide better and more timely response to problems.

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Wednesday, January 20, 2010

Oil-Rich Nations Fall Far Short in Haiti Donations

Oil-Rich Nations Fall Far Short in Haiti Donations - International News News of the World Middle East News Europe News -

What do Alyssa Milano, Sandra Bullock, Lance Armstrong, Gisele Bundchen, the country of Senegal and — very possibly — you have in common?

All — including you — have donated more funds to the Haitian relief effort than oil-rich nations like Saudi Arabia and Iran.

Top economies like Japan and China, meanwhile, have donated $5.3 million and $4.4 million, respectively, or roughly 1 percent of the nearly $400 million donated. Germany, according to U.N. documents, has donated more than $6 million, easily surpassing donations from the Russian Federation, which provided $700,000 and one cargo aircraft with two helicopters.

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Brown Win Forces Democrats to Re-Evaluate Health Care Reform Game Plan - Brown Win Forces Democrats to Re-Evaluate Health Care Reform Game Plan

Democrats are being forced to re-evaluate their plans for health care reform after Republican Scott Brown's victory for the U.S. Senate seat in Massachusetts.

My Thoughts
I figured that the Democrats would do this. Take a look at what happened. Brown's victory in a state with a 3 to 1 ratio of Democrats to Republicans was not just a statement about the health care bill. It was a clear message to Congress that the American public is not going to tolerate their arrogance anymore. They have let their wishes be known and the Democrats are now facing a public that will start voting them out of office if they refuse to listen to their constituents.

Remember the town hall meetings and anger that was expressed over the specifics of the bill. Well, they just saw a small portion of it. Yesterday's election let them know the extent of that anger.

The Democrats can do a couple of things, but I believe they will chose to let Brown take his seat in the Senate before the vote on health care. Here are the other possible actions and their fallout.

1. Use the "Nuclear Option". By using political tactics, Congressional Democrats could push through the bill with a simple majority. The Democrats have enough votes in both houses to do it. They would have to strip things out of the bill and the House would have to accept the Senate's version. The fallout (pun intended) would be horrible for the Democrats.

During Obama's campaign, he pushed change and transparency in government. If the Democrats continue to use of bribes, secret meetings and political tactics to get the health care bill passed, Obama will be a one-term President and Congress will be Republican-led.

2. Vote before Brown takes his seat in the Senate. This would be another horrible move for the Democrats. It would prove to the American people that their elected officials are completely out of touch with the needs of the people and that they are arrogant.

The results are the same as option 1. Obama is out during the next election with most of the Democrats.

3. Downplay all of this and regroup. I think they will do this and they are already starting to talk about it. Read the article from Fox. Let everyone cool off and put health care on the back burner for a while or indefinitely. The Democrats will shift to another issue. In this case, jobs and the economy will be the most likely area for them. The President is going to work on creating his committee to work on lowering the deficit. The Democrats are already saying that we need to concentrate on jobs.

The results are better for the Democrats. If the health care bill is debated after Brown takes his seat and it is defeated, Democrats can tell their constituents in November that they tried. No other President or Congress faced the issues of health care head on. It was those Republicans again. Also, they can focus on the issue of jobs and the economy and let their constituents know that they see the plight of the little guy and are working to help get the economy on its feet and people back to work.

In their minds, the American public is gullible enough to buy all of this and they will get to keep their seats. I hope that we are strong enough to see through their thinly veiled attempt to woo back their voters and vote them out of office.

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Monday, January 18, 2010

Senate Race in Massachusetts

I have been reading articles about the race and its importance. The thing that we need to consider is what length will the Democrats go to in order to protect the Senate health care reform bill.

They have already talked about using the "nuclear option" and they are already discussing acting before Brown takes his seat in the Senate. In either case, Americans will see that all of the talk about change in Washington, DC was more rhetoric and political hot air. Nothing of substance. Just more of the same with the same outcome. Broken promises.

For example, the televised debates on health care that we were promised will never occur. Obama during his campaign promised that those debates would be televised. Now, Congress says, "I'm sorry. We won't do that." Why? Because they will make deals like they did a month ago in order to get this horrible bill to the President's desk.

Many Democrats say the same thing. "Well, the President can't make Congress televise the debate. Remember, there are 3 branches to the government." I don't need a government class to know that. However, the President can strongly influence Congress to do the right thing. He has not done that. The compromise we are given is that we would see about 1 hour of the debate. That's just great.

If I were in Congress, I tell you what I would do. I would have my colleagues get up during the vote and walk out of the chamber and let the news media know that since our voices weren't going to be heard, why waste the time. It would be a grand statement that we have never seen. Voters will re-elect those Senators and Representatives in landslides and the Democrats will be shown the door the next election.

You ask why all of this. Well, with November coming up, House and Senate Democrats up for re-election need to show something to their constituents. They will go back and ignore TARP and the other bailouts that have failed or fizzled. They will tell the voters that they passed health care reform and have given their best to the people. That's why this is so important.

Saturday, January 16, 2010

Dems Weigh Other Options for Passing Health Care if GOP Wins Kennedy's Seat - Dems Weigh Other Options for Passing Health Care if GOP Wins Kennedy's Seat

Chris Van Hollen, chairman of the Democratic Congressional Campaign Committee, told Bloomberg this week that Democrats are still considering reconciliation, a tactic that forbids filibusters and allow bills to pass with just 51 votes, or a simple majority.

Once again, a perfect example of how things are done in Washington, DC.

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Thursday, January 14, 2010

Coakley: Loss in Massachusetts Senate Race Would Hurt Democrats, Health Care - Coakley: Loss in Massachusetts Senate Race Would Hurt Democrats, Health Care

Democrat Martha Coakley and her supporters warned at a fundraiser in Washington, D.C., Tuesday night that the fate of health care reform and the Democratic Party's majority in Congress all hinge on the outcome of her bid for Senate in Massachusetts next week, according to accounts of the closed-door affair.

To me, her statements make her look very desperate. I think the Democrats are hurting and they know it. With Congress' arrogance and its free-spending mentality, I think there will be changes in Congress.

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Tuesday, January 12, 2010

Cash for Flunkers: Great Blog Piece on Fox News Business

President Obama now wants a windfall profits tax assessed against the nation’s top 20 to 30 banks to cover the estimated $120 billion in projected TARP losses, costs largely incurred from bailing out the failed insurer AIG, the automakers, and bad borrowers.
So which banks could be hit with the new “cash for flunkers” tax, by how much, and will it really raise tax revenues to cut down the deficit? Or will consumers have to pick up the tab?

Click here to read the entire entry.

Monday, January 11, 2010

Feds Probe Cadmium in Kids' Jewelry From China

Feds Probe Cadmium in Kids' Jewelry From China - Local News News Articles National News US News -

LOS ANGELES — Moving swiftly, U.S. product safety authorities say they are launching an investigation into the presence of the toxic metal cadmium in children's jewelry imported from China after disclosure of lab tests showing that some pieces consisted primarily of the dangerous substance.

First, it was lead paint on toys. Then, it was garbage used in teddy bears. Now, it is heavy metals used in children's Jewelry. When are we going to learn that we have no control over the items that China builds and ships over here? When US companies produced things, we could be certain of some level of safety in our products. Are we going to learn from this?

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Wednesday, January 6, 2010

CIA Resources Diverted to Climate Change

CIA Resources Diverted to Climate Change The FOX Nation

As terrorists continue to infiltrate America, the Obama Administration is tasking some of our nation's most elite intelligence-gathering agencies to divert their resources to environmental scientists researching global warming.

Experts with The National Center for Public Policy Research are decrying this practice as a distraction from important counterterrorism duties. They further question if it a possible avenue to renew climate change subterfuge already plaguing some of these scientists.

Talk about a misappropriation of resources.

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Did NPR Use Taxpayer Money to Promote "Teabagger" Bashing Video?

Did NPR Use Taxpayer Money to Promote 'Teabagger' Bashing Video? The FOX Nation

A video created by Mark Fiore titled "Learn to Speak Tea Bag" in November. American taxpayer dollars may have been spent on this video to bash people who speak out against the injustices of our system.

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ACORN Qualifies for Funding in Senate Health Bill

ACORN Qualifies for Funding in Senate Health Bill The FOX Nation

Senator Roland Burris is claiming credit for a provision in Harry Reid's "manager's amendment," unveiled Saturday morning, that could funnel money to ACORN through the health care bill.

Do you believe this? I guess Senator Burris will get another term with help from ACORN.

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C-SPAN Challenges Congress to Open Health Care Talks to TV Coverage

C-SPAN Challenges Congress to Open Health Care Talks to TV Coverage The FOX Nation

The head of C-SPAN has implored Congress to open up the last leg of health care reform negotiations to the public, as top Democrats lay plans to hash out the final product among themselves.

Congress will keep us in the dark as long as they can regarding this bill. Most Americans are against it, but Democrats will force this down our throats. Another bitter pill to swallow.

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The $100 Million Health Care Vote? - The Note

The $100 Million Health Care Vote? - The Note

Senator Harry Reid, who drafted the bill, cannot pass it without the support of Louisiana’s Mary Landrieu.
How much does it cost? According to the Congressional Budget Office: $100 million.

Look at Nebraska and what the state is getting for its vote in the Senate.

3 Democrats Drop Plans to Seek Re-election - 3 Democrats Drop Plans to Seek Re-election

Taken together, the decisions by Senators Chris Dodd of Connecticut and Byron Dorgan of North Dakota as well as Colorado Governor Bill Ritter caused another bout of heartburn for Democrats as they struggle to defend themselves in a sour political environment for incumbents, particularly the party in charge.

I think the Democrats are in trouble and they know it. Senator Arlen Specter, D-PA, will probably swap parties again and become a Republican.

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Tuesday, January 5, 2010

U.S. Health Spending Growth Falls to Slowest Rate in Half a Century, Study Finds

U.S. Health Spending Growth Falls to Slowest Rate in Half a Century, Study Finds -

With 10% unemployment and 7% underemployed, I can see why health spending cut back. If it weren't for my doctor and his staff taking care of my family's needs at cost or less, I don't know what I would have done.

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