It looks as though the government is going to be purchasing shares in our auto makers.
What an idea? Reminds me of the railroads. Every time Amtrak cannot make any money because no one rides, which is pretty much every year, they just ask for billions of dollars in appropriations and usually get it.
Has airport security really improved since it was nationalized after 9/11? It seems to me that it is just one mess of political correctness.
So, how can one believe that the nationalization of the auto makers is going to help anyone.
The government will possibly nationalize all of the nation's industries in the interest of "helping", or is it just one big power grab? Cuba is lovely this time of year.
December 09, 2008
November 21, 2008
Who do they think they are?
I personally don't think that the auto makers should get a bailout unless they cancel their labor contract with the United Auto Workers, which has been a cancer on society, holding down the auto makers in several ways for years, but that is another argument.
However, Congress seems to pretend that they are models of thrift and modesty. I'm sure that Rep. Michael Capuano, who chastised the CEOs for flying on their jets, flies coach every time he travels back to Massachusetts or takes a vacation on our dime.
Seriously, pot, meet kettle.
Nancy Pelosi says, "Until they show us the plan, we cannot show them the money." Does that mean that we don't need to pay our taxes until Congress presents a plan to cut wasteful spending, balance the budget and provide clear leadership. I doubt it.
Here is a better answer Madam Speaker - right now, our budget is spread too thin due to the spending increases in expanding a failed welfare state. We have already rushed into a rescue package for the financia industry that has failed to stimulate the markets. We cannot afford to prop an industry that has run itself into the ground by enslaving itself to a union that has forced it into obscurity. Oh yeah, and moving forward, congressmen are going to fly coach and stay at Motel 6 to save the taxpayer some money.
What a bunch of hypocrites.
The reality is that this is just a stall tactic until Obama gets into office because they know that Bush is going to veto any bill they put accross his desk.
However, Congress seems to pretend that they are models of thrift and modesty. I'm sure that Rep. Michael Capuano, who chastised the CEOs for flying on their jets, flies coach every time he travels back to Massachusetts or takes a vacation on our dime.
Seriously, pot, meet kettle.
Nancy Pelosi says, "Until they show us the plan, we cannot show them the money." Does that mean that we don't need to pay our taxes until Congress presents a plan to cut wasteful spending, balance the budget and provide clear leadership. I doubt it.
Here is a better answer Madam Speaker - right now, our budget is spread too thin due to the spending increases in expanding a failed welfare state. We have already rushed into a rescue package for the financia industry that has failed to stimulate the markets. We cannot afford to prop an industry that has run itself into the ground by enslaving itself to a union that has forced it into obscurity. Oh yeah, and moving forward, congressmen are going to fly coach and stay at Motel 6 to save the taxpayer some money.
What a bunch of hypocrites.
The reality is that this is just a stall tactic until Obama gets into office because they know that Bush is going to veto any bill they put accross his desk.
November 19, 2008
Pirates!
What do pirates have to do with big government you might ask?
During the Cold War, piracy was almost unheard of because the USSR and USA both had huge naval presences in all the World's oceans. In essence, navies had become so prolific on the seas that no one had to worry about policing the ocean for piracy.
Fast forward to today. The Indian Ocean has become seemingly overrun with pirates, particularly off the coast of Somalia and in the Strait of Malacca between Malaysia and Indonesia. We may actually be living at the all time height of piracy. It is getting to the point where the international community will start asking for someone to quell piracy.
I have a feeling that no one is going to demand that the Somali, Malaysian and Indonesian governments shore up their respective coast guards and eliminate the government corruption that allows these practices to occur. All the governments losing ships to pirates are going to ask our Navy to be the police of the seas once again.
Let's not even mention how the insurance payments on piracy are going to stress the already troubled financial industry.
On the plus side, India seems to be doing a little something about it.
During the Cold War, piracy was almost unheard of because the USSR and USA both had huge naval presences in all the World's oceans. In essence, navies had become so prolific on the seas that no one had to worry about policing the ocean for piracy.
Fast forward to today. The Indian Ocean has become seemingly overrun with pirates, particularly off the coast of Somalia and in the Strait of Malacca between Malaysia and Indonesia. We may actually be living at the all time height of piracy. It is getting to the point where the international community will start asking for someone to quell piracy.
I have a feeling that no one is going to demand that the Somali, Malaysian and Indonesian governments shore up their respective coast guards and eliminate the government corruption that allows these practices to occur. All the governments losing ships to pirates are going to ask our Navy to be the police of the seas once again.
Let's not even mention how the insurance payments on piracy are going to stress the already troubled financial industry.
On the plus side, India seems to be doing a little something about it.
November 10, 2008
Ouch
The outlook is grim and the "T" word, trillion, is on the horizon when it comes to the deficit. This spells out the fiscal crisis, plainly and as well as anyone ever has.
Read more here.
Read more here.
The Government Accountablity Office Recognizes that we have a "Fiscal Challenge"
Basically, the Government Accountability Office says that "The federal government faces large and growing structural deficits driven primarily by rising health care costs and known demographic trends." The suggestion is that once the current crisis is over, the next administration will need to tackle the fiscal crisis next.
OK. So, it sounds to me like they are saying old people are living a lot longer than they used, so we need an overhaul. After all, the government spends about $1 trillion on pensions and medical coverage for seniors now. That coupled with advances in medicine, quality of life and the rise in health care costs really do lead us down a very expensive road that is difficult to maintain.
I fear that instead of reforming the runaway entitlement programs that have been overshadowed by the war for the last few years, the government will increase payroll tax in an attempt to deal with the fiscal crisis.
For those who may not know, the GAO is essentially the internal auditor of the US Government.
Read the GAO's statement here.
OK. So, it sounds to me like they are saying old people are living a lot longer than they used, so we need an overhaul. After all, the government spends about $1 trillion on pensions and medical coverage for seniors now. That coupled with advances in medicine, quality of life and the rise in health care costs really do lead us down a very expensive road that is difficult to maintain.
I fear that instead of reforming the runaway entitlement programs that have been overshadowed by the war for the last few years, the government will increase payroll tax in an attempt to deal with the fiscal crisis.
For those who may not know, the GAO is essentially the internal auditor of the US Government.
Read the GAO's statement here.
Bush to Ban Internet Gambling
"The most important ways in which I think the Internet will affect the big issue is that it will make it more difficult for government to collect taxes." - Milton Friedman (who often seemed to be right)
It looks like President Bush is going to sign into law the Unlawful Internet Gambling Act. This is the brainchild of the man who said, "I think there are a lot of very rich people out there whom we can tax at a point down the road," Rep. Barney Frank (I love how he refuses to respond to people who don't live in his district, which leads me to believe that he should give up his chair on the Finance Committee). Whether or not you are into gambling, the only real reason for this legislation is because the government cannot figure how to control, and ultimately tax, transactions that take place on the internet. The NFL on the other hand, which opposes most internet gambling, has a man in the Bush Administration and would love to see this go through. Just more weak legislation that won't work and won't benefit the people.
Read more here.
It looks like President Bush is going to sign into law the Unlawful Internet Gambling Act. This is the brainchild of the man who said, "I think there are a lot of very rich people out there whom we can tax at a point down the road," Rep. Barney Frank (I love how he refuses to respond to people who don't live in his district, which leads me to believe that he should give up his chair on the Finance Committee). Whether or not you are into gambling, the only real reason for this legislation is because the government cannot figure how to control, and ultimately tax, transactions that take place on the internet. The NFL on the other hand, which opposes most internet gambling, has a man in the Bush Administration and would love to see this go through. Just more weak legislation that won't work and won't benefit the people.
Read more here.
November 09, 2008
Addendums to the Bailout
Since it is now obvious that the $700 billion that the people were quoted was rooted in nothing but Henry Paulson's imagination, it should come as little surprise that Harry Reid and Nancy Pelosi are asking the Secretary of the Treasury for the automobile industry. They want $25 billion for GM and Ford. Also take note that Barack Obama feels the number should be $50 billion. Not surprisingly, one of the President Elect's economic advisors is Jennifer Granholm, Governor of Michigan. (Rhetorical question: would you select the Governor of the state that has had the worst job loss in the past decade to help dig the country out of a recession?) They try to play to our sympathies by telling us that hundreds of thousands of people will lose their jobs, but the only solution anyone ever wants to give these days is for the Treasury Department to throw more money into a failing system. Is that change?
Check it out here.
(You will notice that every time I use an elected official's name in this blog I will have a link to their contact information so you can tell them what you think.)
Check it out here.
(You will notice that every time I use an elected official's name in this blog I will have a link to their contact information so you can tell them what you think.)
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