Today, Joe Biden was confronted by a citizen at Kopp's Custard Shop in Milwaukee who dared . . . express an opinion on the fiscal state of the country by asking the Veep to lower our taxes. Biden's reply was a testy "Say something nice for a change instead of being such as smartass . . ."
What a jerk. Seems like any time a citizen says anything real, they get marginalized or discounted by our elected officials. When citizens express an opinion that is other than adulation for our elected officials, they are turned into ogres. This happened with last Summer's Town Hall meetings, when our Congressmen stopped having Town Hall meetings because they did not want to hear from us. And, it is happening to the Tea Party activists. They are labeled as racists or zenophobes by our leaders instead of taken seriously, and listened to, as any citizen should be. Our politicians simply do not want any lip from us.
This is the height of arrogance. And, again, it exhibits the tin ears that this Administration has for feedback from the populace. Whenever there is something said that they don't want to hear, they ignore it, they discount it and they seek a way to try to de-legitimize it. Same pattern, over and over again. (This is especially true with our President, but that's another blog post altogether.)
Once again . . . please vote for the challenger, whatever the party. In practice, this will mean voting GOP a lot of the time, but so be it. We need to remove from office as many incumbents as possible. And, send a very strong message that these people cocooned in Washington work for us . . . not the other way around.
Woldy
Monday, June 28, 2010
Monday, June 14, 2010
Thank you Barney Frank and Chris Dodd
The two legislators who are most culpable for NOT regulating Fannie and Freddie more closely are Barney and Chris. Thankfully, Chris is retiring. Please, citizens of Massachusetts, its time for Barney to retire, too.
June 14 (Bloomberg) -- The cost of fixing Fannie Mae and Freddie Mac, the mortgage companies that last year bought or guaranteed three-quarters of all U.S. home loans, will be at least $160 billion and could grow to as much as $1 trillion after the biggest bailout in American history.
For more on this depressing story, click and paste the whole story.
http://www.bloomberg.com/apps/news?pid=20601109&sid=an_hcY9YaJas&pos=10
June 14 (Bloomberg) -- The cost of fixing Fannie Mae and Freddie Mac, the mortgage companies that last year bought or guaranteed three-quarters of all U.S. home loans, will be at least $160 billion and could grow to as much as $1 trillion after the biggest bailout in American history.
For more on this depressing story, click and paste the whole story.
http://www.bloomberg.com/apps/news?pid=20601109&sid=an_hcY9YaJas&pos=10
Friday, June 11, 2010
Quote on Obama Oil Spill Response
From an article on politico.com . . .
"Every other business doing business in the U.S. has to say: What happens when the government decides to come after me? They expect with Chavez in Venezuela, they have to account for that risk, but if the U.S. does it, that just reduces the incentive to invest in the United States,” Frank said. “The damage the administration is doing to the U.S. economy by playing these kinds of games is just appalling.”
Read more: http://www.politico.com/news/stories/0610/38406_Page2.html#ixzz0qa9FS9Io
"Every other business doing business in the U.S. has to say: What happens when the government decides to come after me? They expect with Chavez in Venezuela, they have to account for that risk, but if the U.S. does it, that just reduces the incentive to invest in the United States,” Frank said. “The damage the administration is doing to the U.S. economy by playing these kinds of games is just appalling.”
Read more: http://www.politico.com/news/stories/0610/38406_Page2.html#ixzz0qa9FS9Io
We Live in Pelosi-Land
If you are still on the fence about whether or not to vote against the incumbent dimwits running our national government, here are a couple quotes from this week's news:
1. Nancy Pelosi, Speaker of the U.S. House of Representatives. Today she decided that the U.S. court system is not capable of handling matters related to the inevitable onslaught of lawsuits coming BP's way. It is Speaker Pelosi's studied opinion that BP must . . . MUST . . . stop paying dividends to its shareholders immediately. Until such time that . . . well, until Speaker Pelosi thinks it is okay. When she gives the thumbs-up (and Hell actually does freeze over, due to the inevitable global cooling wave that is coming our way - - just wait, you’ll see), then BP can pay dividends. Or was it, until those individuals hurt by the oil spill in the Gulf start getting some dollars from BP . . . either way, Speaker Pelosi will let us know and then BP can start paying dividends. Because our court system is obviously not up to the task of sorting out legal rights and issues.
2. President Obama (only reason I didn't put this one first is out of respect for the President) stating that he is looking for some "ass to kick" about this whole oil spill thing going on down there in the Gulf. Man, is he pissed off. And, he is going to kick some "ass". I think it is really cool for the President to be talking about kicking some ass. When was the last time we had a President who would say such things? I mean, it is clear that somebody has to pay and Obama is the Chief Asskicker, or the Asskicker in Chief (whichever) so he is going to administer the kicking.
My only question is . . . how is he going to reach his butt with his own foot? Because clearly he should start with his own ass. For his instinctive desire to point fingers, assign blame and acting (as in performing for an audience), rather than actually doing the job we elected him for. Today’s show includes a berating of the Chairman of BP . . . as if that is going to solve anything. But, it looks oh so good to his audience to be chewing out some greedy corporate type. Obama really did learn a lot from fellow Chicagoan Oprah. He puts on a heck of a show.
1. Nancy Pelosi, Speaker of the U.S. House of Representatives. Today she decided that the U.S. court system is not capable of handling matters related to the inevitable onslaught of lawsuits coming BP's way. It is Speaker Pelosi's studied opinion that BP must . . . MUST . . . stop paying dividends to its shareholders immediately. Until such time that . . . well, until Speaker Pelosi thinks it is okay. When she gives the thumbs-up (and Hell actually does freeze over, due to the inevitable global cooling wave that is coming our way - - just wait, you’ll see), then BP can pay dividends. Or was it, until those individuals hurt by the oil spill in the Gulf start getting some dollars from BP . . . either way, Speaker Pelosi will let us know and then BP can start paying dividends. Because our court system is obviously not up to the task of sorting out legal rights and issues.
2. President Obama (only reason I didn't put this one first is out of respect for the President) stating that he is looking for some "ass to kick" about this whole oil spill thing going on down there in the Gulf. Man, is he pissed off. And, he is going to kick some "ass". I think it is really cool for the President to be talking about kicking some ass. When was the last time we had a President who would say such things? I mean, it is clear that somebody has to pay and Obama is the Chief Asskicker, or the Asskicker in Chief (whichever) so he is going to administer the kicking.
My only question is . . . how is he going to reach his butt with his own foot? Because clearly he should start with his own ass. For his instinctive desire to point fingers, assign blame and acting (as in performing for an audience), rather than actually doing the job we elected him for. Today’s show includes a berating of the Chairman of BP . . . as if that is going to solve anything. But, it looks oh so good to his audience to be chewing out some greedy corporate type. Obama really did learn a lot from fellow Chicagoan Oprah. He puts on a heck of a show.
Wednesday, May 12, 2010
Let's have an honest conversation
Take the emotion out for a minute and consider the public policy.
Medicare was created in 1966 at a cost of $3 Billion per year. The House Ways & Means Committee estimated in 1966 that the 1990 cost would be $12 Billion. Instead, it was $107 Billion in 1990 and today it costs more than $408 Billion per year.
These are facts.
The Congressional Budget Office estimated that the health care law that was just signed into law a few months ago will cost $940 Billion over the next 10 years. Actually, just today, the CBO came out with a new estimate that is $100 Billion higher. But, if history is a guide, this is low. Way, way low. And, like it or not, the dollars must come from someplace. Sadly, we can't even pay for what we are spending now (to the tune of $1.5 TRILLION a year), let alone add more spending on top. Which is exactly what this Congress and this President just did.
Another fact . . .
If the US Government cut out 100% of its spending, including defense, but kept paying Social Security, Medicare and Medicaid . . . the US would still have a deficit.
More (unpleasant) facts . . .
Tim Cahill, Massachusetts State Treasurer said, of MassCare . . . "If not for . . . commitments from Washington to prop up this plan, Massachusetts would be broke. The only reason MassCare has survived is that we have been repeatedly bailed out by the federal government."
This is the model for the US health care law that we now live under. There is not enough income in this country to tax to pay for all this spending. The top 10% of earners in this country ALREADY pay 73% of the income taxes collected by the IRS. So what is the right number? 85%? 95%? 100%? At what point do people stop creating new businesses and working longer hours to earn more money for the federal government to confiscate?
This issue is real. We are spending our way into oblivion in this country. Even after the massive tax increases which we will shortly experience, our federal government will still have huge current deficits on top of massive unfunded future liabilities. We simply don’t have enough money to pay for all the wonderful things our elected officials think up.
And, they are wonderful and worthy ideas. In a perfect world (which we sadly do not inhabit), we would have enough to pay for it all. But, unfortunately, we live in the real world, and not the imaginary one, and we need to find ways to pay for the programs we pass.
My advice, if you care about this issue, is to vote GOP this Fall. If you can’t bring yourself to do that (because you are too partisan), then vote against the incumbent. We need to send new people to Washington. Those people who have been there for 25, 30 and 40 years need to clear out. Let’s get some fresh blood in there and see if they can do a better job.
Woldy
Medicare was created in 1966 at a cost of $3 Billion per year. The House Ways & Means Committee estimated in 1966 that the 1990 cost would be $12 Billion. Instead, it was $107 Billion in 1990 and today it costs more than $408 Billion per year.
These are facts.
The Congressional Budget Office estimated that the health care law that was just signed into law a few months ago will cost $940 Billion over the next 10 years. Actually, just today, the CBO came out with a new estimate that is $100 Billion higher. But, if history is a guide, this is low. Way, way low. And, like it or not, the dollars must come from someplace. Sadly, we can't even pay for what we are spending now (to the tune of $1.5 TRILLION a year), let alone add more spending on top. Which is exactly what this Congress and this President just did.
Another fact . . .
If the US Government cut out 100% of its spending, including defense, but kept paying Social Security, Medicare and Medicaid . . . the US would still have a deficit.
More (unpleasant) facts . . .
Tim Cahill, Massachusetts State Treasurer said, of MassCare . . . "If not for . . . commitments from Washington to prop up this plan, Massachusetts would be broke. The only reason MassCare has survived is that we have been repeatedly bailed out by the federal government."
This is the model for the US health care law that we now live under. There is not enough income in this country to tax to pay for all this spending. The top 10% of earners in this country ALREADY pay 73% of the income taxes collected by the IRS. So what is the right number? 85%? 95%? 100%? At what point do people stop creating new businesses and working longer hours to earn more money for the federal government to confiscate?
This issue is real. We are spending our way into oblivion in this country. Even after the massive tax increases which we will shortly experience, our federal government will still have huge current deficits on top of massive unfunded future liabilities. We simply don’t have enough money to pay for all the wonderful things our elected officials think up.
And, they are wonderful and worthy ideas. In a perfect world (which we sadly do not inhabit), we would have enough to pay for it all. But, unfortunately, we live in the real world, and not the imaginary one, and we need to find ways to pay for the programs we pass.
My advice, if you care about this issue, is to vote GOP this Fall. If you can’t bring yourself to do that (because you are too partisan), then vote against the incumbent. We need to send new people to Washington. Those people who have been there for 25, 30 and 40 years need to clear out. Let’s get some fresh blood in there and see if they can do a better job.
Woldy
Sunday, April 25, 2010
King Barack Weighs in (Yet) Again
Is there nothing that Barack Obama will not opine about?
From the behavior of Cambridge cops to the pay packages of investment bankers to West Virginia mine safety and now to a piece of state legislation in Arizona (on immigration). Barack thinks he gets a say in EVERYTHING that happens in this country.
By the way, it is quite unusual for a sitting President to take a Governor and state legislature to task for passing a law he disagrees with. It is kind of Un-Presidential, in fact, to do that. Not the least of reasons is that he is supposed to be leading a country of States (maybe Cass Sunstein can remind him of some of the finer points over lunch one day). And, then there's this whole subject of seeming to be rather reactive, but that may have to wait for another blog posting.
The reason the Arizona state legislature acted is because the U.S. Congress hasn't acted. No, that is not really correct. Congress won't act because they are scared to (scared to piss more people off). But the problem is not going away. And as a front-line state, immigration matters to Arizonians. Right or wrong, their elected state officials felt the need to act, and did act. Now, having acted, The President decides that they did the wrong thing. The President. And, he bashes the Governor and the state legislature for taking the action they did.
Barack should be directing his ire at the Congress. Oh, and by the way, himself, for insisting the Congress take up health insurance legislation rather than other pressing matters of state. But, it is much more politically expedient for him to bash some Republican Governor. Hits the "right" note with his supporters.
Now I am not suggesting that The President should not exercise the bully pulpit to affect public policy. That is his right. He can say whatever he wants. He is The President. Unfortunately for him (and for the rest of us), he has exercised this right rather too aggressively in his short time in office. He basically can't help himself from speaking out.
Here is a serious question, not a joke: Does Barack think he is a Monarch or the leader of a Democracy?
From the behavior of Cambridge cops to the pay packages of investment bankers to West Virginia mine safety and now to a piece of state legislation in Arizona (on immigration). Barack thinks he gets a say in EVERYTHING that happens in this country.
By the way, it is quite unusual for a sitting President to take a Governor and state legislature to task for passing a law he disagrees with. It is kind of Un-Presidential, in fact, to do that. Not the least of reasons is that he is supposed to be leading a country of States (maybe Cass Sunstein can remind him of some of the finer points over lunch one day). And, then there's this whole subject of seeming to be rather reactive, but that may have to wait for another blog posting.
The reason the Arizona state legislature acted is because the U.S. Congress hasn't acted. No, that is not really correct. Congress won't act because they are scared to (scared to piss more people off). But the problem is not going away. And as a front-line state, immigration matters to Arizonians. Right or wrong, their elected state officials felt the need to act, and did act. Now, having acted, The President decides that they did the wrong thing. The President. And, he bashes the Governor and the state legislature for taking the action they did.
Barack should be directing his ire at the Congress. Oh, and by the way, himself, for insisting the Congress take up health insurance legislation rather than other pressing matters of state. But, it is much more politically expedient for him to bash some Republican Governor. Hits the "right" note with his supporters.
Now I am not suggesting that The President should not exercise the bully pulpit to affect public policy. That is his right. He can say whatever he wants. He is The President. Unfortunately for him (and for the rest of us), he has exercised this right rather too aggressively in his short time in office. He basically can't help himself from speaking out.
Here is a serious question, not a joke: Does Barack think he is a Monarch or the leader of a Democracy?
Saturday, April 17, 2010
SEC's Goldman Suit Smacks of Politics
I have been as vocal a critic as any about some of the ways that Goldman Sachs has benefited from Government bailouts over the last 18 months, but this SEC action, in the midst of the White House's legislative push to pass a financial regulations bill, just seems to me to be all about politics.
Plausibly deniable, we may never know (or at least we may not know until someone writes a book about it a year from now) if the prosecutors were influenced by the politicians to wage a public war against the most prominent survivor on Wall Street. It just seems to be too coincidental and I, for one, just don't believe in coincidence.
And, if it turns out to be true then, shame on the White House, the Democratic Congressional leadership and shame on the SEC Commissioner. Because they are messing with the reputation of one of our country's leading financial firms. And, the reputations of individuals. Once tainted, reputations are hard to restore.
I have no idea what actually happened, but this sort of fits a pattern with this President. He wants things the way he wants things and he wants them that way NOW. He is a bit of a bully and he doesn't like taking "no" for an answer. Sometimes these are good traits in a leader. But, not when the legal proceedings of our country's law enforcement agencies are applied inappropriately.
Time will tell if this was a political prosecution, or not.
Plausibly deniable, we may never know (or at least we may not know until someone writes a book about it a year from now) if the prosecutors were influenced by the politicians to wage a public war against the most prominent survivor on Wall Street. It just seems to be too coincidental and I, for one, just don't believe in coincidence.
And, if it turns out to be true then, shame on the White House, the Democratic Congressional leadership and shame on the SEC Commissioner. Because they are messing with the reputation of one of our country's leading financial firms. And, the reputations of individuals. Once tainted, reputations are hard to restore.
I have no idea what actually happened, but this sort of fits a pattern with this President. He wants things the way he wants things and he wants them that way NOW. He is a bit of a bully and he doesn't like taking "no" for an answer. Sometimes these are good traits in a leader. But, not when the legal proceedings of our country's law enforcement agencies are applied inappropriately.
Time will tell if this was a political prosecution, or not.
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