President Obama has announced his WE CAN'T WAIT PROGRAM as a way to implement his policies on how to get the economy growing again.What we have here is just more of the same that got us in this trouble to begin with.The Community Reinvestment Act , passed during jimmy Carter's administration, started us down the road of creating this housing bubble,which eventually helped cause the financial meltdown we experienced in 2009.Then the Clinton administration made some changes to the legislation which put more pressure on the banks to lend money to low income communities.
This Act also relaxed lending requirements of the banks and the customers by not having to prove their financial worth and taking their word on how much income they had coming in. People like Congressman Barney Frank,who was chairman of the House Financial Services, repeatedly supported Fannie Mae and Freddie Mac,who made thousands of these sub-prime loans.On more than one occasion, Mr.Frank defended these two Government Sponsored Entities,dressing down regulators testifying before his committee ,that Fannie Mae and Freddie Mac needed to be reeled in.Many other Democrats on the committee also chimed in saying that there was nothing wrong with the agencies and that the regulators only wanted to punish the poor.
So now Obama is bring back the bailout of the housing market, which will only lead to more taxpayer money being wasted.The only way that the housing sector will recover is to let the natural process of foreclosures take place.Yes, it will be painful,but the way we are addressing it now is only going to create a bigger bubble.
President Obama told us when he was first elected, that creating and saving jobs, was his main focus.Instead, he worked relentlessly on the Health Care Bill.Then when that passed,and millions of workers still unemployed, while adding more every week, he announced on national TV, that he was laser focused on creating jobs.First of all, the Government can't create jobs, but only the environment,such as relaxing regulations, and permanent tax rate cuts, not one time tax credits.
One thing that is certain, Obama is laser focused on saving one job and that is his.His campaign slogan while running for President in 2008 was Hope And Change The main change we need right now is the Office of President of The U.S.It can't come soon enough.
Tuesday, October 25, 2011
Thursday, October 20, 2011
SENATOR HARRY REID TELLS US WHAT HE REALLY THINKS ABOUT JOB CREATION
As the majority leader of the Senate,Harry Reid,speaking from the Senate floor,told us exactly what the Jobs Bill was all about and who it targets.According to the Senator from Nevada,"it's very clear that private sector jobs are doing just fine. It's the public sector jobs where we've lost huge numbers, and that's what this legislation is all about." So it's their union friends that they are planning to take care,just as it was in the first stimulus bill,spending nearly $1 trillion.
According to U.S Bureau of Labor Statistics,the national unemployment rate is 9.1%,compared to the public sector rate of 4.7%. It looks like Reid has spilled the beans on the real purpose of this so called Jobs Bill.This is another example that the Dems can't really tell us what they support because there wouldn't be many people that would agree with their policies.Probably less than 20%. They have to lie to get re-elected. Then when they get in office, they just ramrod their policies and ideas through the Legislature and flip the voters off.
They spent our tax money bailing out some banks and GM.And in doing so, the Obama administration gave the majority of ownership of GM to the unions,thus actually putting the bondholders behind the unions. If you didn't know, the bondholders,which are secured creditors should have come first.
According to an article by Tom Gantert, the private sector has lost 6.3 million jobs since December 2007.The public sector lost 392,000 jobs during the same time period.The public sector has an estimated 22.3 million jobs according to the Bureau of Labor Statistics. The private sector are the ones that create real jobs, because they offer us goods and services,whereas the public sector doesn't produce anything.
Either Reid doesn't know what he's talking about, or he has given us the real agenda of the Democratic controlled Senate.I bet it is the latter. These people need to go .
Word of advice for all of the Occupy Wall Street protesters.When the Government gets most of the money from the wealthy,by taxes and fees, then what are you going to protest then,when there isn't anything left of this economy.Because if you don't realize it,the wealthy will soon call it quits and move all of their money and businesses offshore to another country.This will only leave what we call the middle class to take up the slack to pay all of your entitlements. So when you get rid of the money making private sector jobs, all we have left is Government and they don't have a very good track record of running things.
So give it another shot Senator Reid.Maybe you can explain these statements to all of dumb Southern redneck conservatives.Wait a minute!I think I understand.This is who you really are.
According to U.S Bureau of Labor Statistics,the national unemployment rate is 9.1%,compared to the public sector rate of 4.7%. It looks like Reid has spilled the beans on the real purpose of this so called Jobs Bill.This is another example that the Dems can't really tell us what they support because there wouldn't be many people that would agree with their policies.Probably less than 20%. They have to lie to get re-elected. Then when they get in office, they just ramrod their policies and ideas through the Legislature and flip the voters off.
They spent our tax money bailing out some banks and GM.And in doing so, the Obama administration gave the majority of ownership of GM to the unions,thus actually putting the bondholders behind the unions. If you didn't know, the bondholders,which are secured creditors should have come first.
According to an article by Tom Gantert, the private sector has lost 6.3 million jobs since December 2007.The public sector lost 392,000 jobs during the same time period.The public sector has an estimated 22.3 million jobs according to the Bureau of Labor Statistics. The private sector are the ones that create real jobs, because they offer us goods and services,whereas the public sector doesn't produce anything.
Either Reid doesn't know what he's talking about, or he has given us the real agenda of the Democratic controlled Senate.I bet it is the latter. These people need to go .
Word of advice for all of the Occupy Wall Street protesters.When the Government gets most of the money from the wealthy,by taxes and fees, then what are you going to protest then,when there isn't anything left of this economy.Because if you don't realize it,the wealthy will soon call it quits and move all of their money and businesses offshore to another country.This will only leave what we call the middle class to take up the slack to pay all of your entitlements. So when you get rid of the money making private sector jobs, all we have left is Government and they don't have a very good track record of running things.
So give it another shot Senator Reid.Maybe you can explain these statements to all of dumb Southern redneck conservatives.Wait a minute!I think I understand.This is who you really are.
Monday, October 17, 2011
OBAMA CAMPAIGN FOR JOBS BILL CONTINUES WITH NEW BUS TOUR
Once again President Obama is taking his,or should I say our,new Canadian made buses on a three day tour across North Carolina and Virginia,campaigning for his tax bill disguised as a jobs bill.This time,he is vowing to propose pieces of the bill,instead of the complete bill.He is doing so because the Senate rejected his bill last week.He is spending his time and energy playing politics and class warfare.Obama himself has repeatedly said this is not a time to play politics,even though it has been almost three years since he was going to create millions of jobs with his great economic policies.
The President has proposed giving the states $35 billion to hire teachers,construction workers, and first responders.He doesn't remind voters that $150 billion was given to the states from the Stimulus Bill in 2009 for this very reason, but somehow didn't create these jobs.He also got the Congress to give another $26 billion in 2010 for this purpose.He's trying to widen the political divide between the people of this country with his demagoguery,not to just win the 2012 election,but to continue to have the availability and power to fundamentally change this country,as he said during the 2008 election.
Just as Bill Clinton's bill to give the states enough money to hire an additional 100,000 police,Obama fails to tell the crowds that this only good for one year also.After one year,they will disappear because the States are not in shape financially to keep them on the payroll.
I find it very perplexing what people think it will do for them when they take more money from the rich, just for Congress to waste it.What it will accomplish is to run Corporations to do business in other countries, just as they have been doing for years.Only this will speed up the process,to fundamentally transform this country.In turn, thousands of more jobs will be lost instead of any new ones being created.
Why did it take Obama almost three years to focus on job creation? He told us many times over the last 3 years that his administration would be laser focused on jobs.Instead he focused on more regulations,cap and trade,and the health care bill.He now goes across the country telling the people that this is the only thing that will save us,all the while it will continue to destroy it.
He is hitting hard at Wall Street types, even though he has gotten more money from Wall Street than any recent politician.Special deals and bailouts are and were given to big businesses instead of letting the market take care of it.If we had let them fail ,this economy would probably be back on the right course.
The President has proposed giving the states $35 billion to hire teachers,construction workers, and first responders.He doesn't remind voters that $150 billion was given to the states from the Stimulus Bill in 2009 for this very reason, but somehow didn't create these jobs.He also got the Congress to give another $26 billion in 2010 for this purpose.He's trying to widen the political divide between the people of this country with his demagoguery,not to just win the 2012 election,but to continue to have the availability and power to fundamentally change this country,as he said during the 2008 election.
Just as Bill Clinton's bill to give the states enough money to hire an additional 100,000 police,Obama fails to tell the crowds that this only good for one year also.After one year,they will disappear because the States are not in shape financially to keep them on the payroll.
I find it very perplexing what people think it will do for them when they take more money from the rich, just for Congress to waste it.What it will accomplish is to run Corporations to do business in other countries, just as they have been doing for years.Only this will speed up the process,to fundamentally transform this country.In turn, thousands of more jobs will be lost instead of any new ones being created.
Why did it take Obama almost three years to focus on job creation? He told us many times over the last 3 years that his administration would be laser focused on jobs.Instead he focused on more regulations,cap and trade,and the health care bill.He now goes across the country telling the people that this is the only thing that will save us,all the while it will continue to destroy it.
He is hitting hard at Wall Street types, even though he has gotten more money from Wall Street than any recent politician.Special deals and bailouts are and were given to big businesses instead of letting the market take care of it.If we had let them fail ,this economy would probably be back on the right course.
Friday, October 14, 2011
LIBERAL MEDIA COMPARING OCCUPY WALL STREET PROTESTS AS THE LEFT'S ANSWER TO TEA PARTY
News outlets,correspondents,entire networks,and news anchors continue to push the notion that the OCCUPY WALL STREET protests are the liberals answer to the Tea Party.Many are even saying are operate in the same fashion.Is that really the case?
First, the Tea Party was a grassroots movement against the government taking over more of our society,the unending spending,the class warfare,the insatiable desire for more taxes and fees,and the countless regulations being implemented every day,which destroys the greatest economic structure the world has ever known.The people,for the most part, at OCCUPY WALL STREET [OWS], are calling for the destruction of capitalism,increased government intervention,cradle to grave charity.They don't seem to understand that if our capitalist system is destroyed,the Government will run out of money and resources to take care of all their wants and needs.
Second, the Tea Party gatherings around the country were law abiding,respectful of contrarian beliefs,clean,and organized in a way that respected the property that they were using.The OWS crowd have been rude,down right unclean,don't respect local businesses,relieving themselves on the ground in public,taking over businesses bathrooms,stealing toilet paper,and having sex in plain sight.
We have been told for years,even decades, that the left,Democrats and Liberals were the only people who cared about the planet of being free from littering and abusing our environment.This has proved to be false many times over.Take for example, the 9-12 gathering in D.C. in September,2009,with at least 400,000 people,was left spotless. Compare that to the Obama Inauguration,the One Nation Rally,and the Jon Stewart Rally in D.C. One of the D.C. staff told the 9-12 people that the park was left the cleanest he had ever seen.Also,it has been reported that so far New York City has paid 3.2 million in overtime to police and other departments.These extras weren't necessary for the Tea Party rallies.
Third, the people protesting for the most part,can't tell reporters what it exactly is that they are protesting. The Tea Party had a few things on the agenda,which was less Government ,lower taxes, no more bailouts,and follow the Constitution. At least some of the OWS crowd has expressed their dissatisfaction with all of the bailouts.
Media Research Center interviewed some of the OWS protesters asking them what they thought of the Frank-Dodd bill.To a man, no one knew that it was the financial reform bill passed earlier,putting many regulations on our banks.Thus ,they are protesting Wall Street without knowing anything about the new regulations put on the very people they are protesting.
Fourth, we have media pundits ,such as MSNBC's Donny Deutsch,saying on the tube that what we need is something like Kent State in which 4 people were killed.What a statement!!Hows that civility that Obama called for after the shooting in Arizona working out .Haven't heard form the President or any Democrats whether or not this crossed the civility line or not.Don't look for it either.
As hard as the main stream media is trying to make these Occupy protesters like the Tea Party, the only people who will fall for that are the far left,lots of Democratic politicians, and the Woodstock like people who agree with the protesters.
Fifth, any money they are getting is coming from our Capitalistic economy,yet they accept it without resistance.They all have their I-Phones,I-Pads,I-pods, and laptop computers,all gadgets they would be without if it weren't for our free market system.I imagine some of them left their protest area to stand in line for the Apple 4GS I-Phone this morning.
Sixth,I'm sure many of them are college students.So, maybe they should take their concerns to the very universities they attend,as most ,if not all,have big endowment funds that are earning big returns from wall street investments, all the same time raising their tuition fess every year.Just saying!
As bad as the Liberal media wants to make this protest the same as the Tea Party,it will never fly with the majority of the people.This country is more conservative than Liberal, and unlike most Liberals ,the Conservatives are well informed and not ignorant of the facts.
First, the Tea Party was a grassroots movement against the government taking over more of our society,the unending spending,the class warfare,the insatiable desire for more taxes and fees,and the countless regulations being implemented every day,which destroys the greatest economic structure the world has ever known.The people,for the most part, at OCCUPY WALL STREET [OWS], are calling for the destruction of capitalism,increased government intervention,cradle to grave charity.They don't seem to understand that if our capitalist system is destroyed,the Government will run out of money and resources to take care of all their wants and needs.
Second, the Tea Party gatherings around the country were law abiding,respectful of contrarian beliefs,clean,and organized in a way that respected the property that they were using.The OWS crowd have been rude,down right unclean,don't respect local businesses,relieving themselves on the ground in public,taking over businesses bathrooms,stealing toilet paper,and having sex in plain sight.
We have been told for years,even decades, that the left,Democrats and Liberals were the only people who cared about the planet of being free from littering and abusing our environment.This has proved to be false many times over.Take for example, the 9-12 gathering in D.C. in September,2009,with at least 400,000 people,was left spotless. Compare that to the Obama Inauguration,the One Nation Rally,and the Jon Stewart Rally in D.C. One of the D.C. staff told the 9-12 people that the park was left the cleanest he had ever seen.Also,it has been reported that so far New York City has paid 3.2 million in overtime to police and other departments.These extras weren't necessary for the Tea Party rallies.
Third, the people protesting for the most part,can't tell reporters what it exactly is that they are protesting. The Tea Party had a few things on the agenda,which was less Government ,lower taxes, no more bailouts,and follow the Constitution. At least some of the OWS crowd has expressed their dissatisfaction with all of the bailouts.
Media Research Center interviewed some of the OWS protesters asking them what they thought of the Frank-Dodd bill.To a man, no one knew that it was the financial reform bill passed earlier,putting many regulations on our banks.Thus ,they are protesting Wall Street without knowing anything about the new regulations put on the very people they are protesting.
Fourth, we have media pundits ,such as MSNBC's Donny Deutsch,saying on the tube that what we need is something like Kent State in which 4 people were killed.What a statement!!Hows that civility that Obama called for after the shooting in Arizona working out .Haven't heard form the President or any Democrats whether or not this crossed the civility line or not.Don't look for it either.
As hard as the main stream media is trying to make these Occupy protesters like the Tea Party, the only people who will fall for that are the far left,lots of Democratic politicians, and the Woodstock like people who agree with the protesters.
Fifth, any money they are getting is coming from our Capitalistic economy,yet they accept it without resistance.They all have their I-Phones,I-Pads,I-pods, and laptop computers,all gadgets they would be without if it weren't for our free market system.I imagine some of them left their protest area to stand in line for the Apple 4GS I-Phone this morning.
Sixth,I'm sure many of them are college students.So, maybe they should take their concerns to the very universities they attend,as most ,if not all,have big endowment funds that are earning big returns from wall street investments, all the same time raising their tuition fess every year.Just saying!
As bad as the Liberal media wants to make this protest the same as the Tea Party,it will never fly with the majority of the people.This country is more conservative than Liberal, and unlike most Liberals ,the Conservatives are well informed and not ignorant of the facts.
Thursday, October 13, 2011
WHY DOES THIS ADMINISRATION CONTINUE TO THROW DOWN THE GREEN RATHOLE?
The extreme positions that the Obama administration takes in funding "GREEN ENERGY" companies continues to befuddle the average citizen and taxpayer.We learned just a few weeks ago that over $500 million was given to a company called Solyndra. We also know that before the energy department gave away our tax money,many had warned that this was a bad investment,dating back to the Bush administration.They even received at least a billion dollars from private investors,including people who bundled money for Obama during his campaign.
When it was known that the company would fail, they even changed the rules that would have given the taxpayers first rights to any money left,instead giving it to private investors,who just happen to be big Obama supporters.What a coincidence!!This after the bond holders of GM were to get first pickings by law, but the Obama administration gave it to the unions first.
Now we find out that a company called Sunpower,received 1.2 billion in loans while owing $820 million,$20 million more than its market capitalization. According to Human Events, it traded at an all time of $133 in December of 2007.As of October 4Th, it was trading around $6.60 per share.Sound like this $1.2 billion will be gone soon,if not already.
The loan guarantee was to go to the California Valley Solar Ranch {CVSR}. According to the DOE, this project would create 350 construction jobs during the estimated two years to build this project.It would create a whopping 15 permanent jobs, which works out to a cool $80 million per job.What a deal!!But wait, they say that they would create an undetermined number of jobs building the panels, only these would be in Mexico.
This GREEN ENERGY PROGRAM is going to really help our already insurmountable debt and for what.Just a bunch of failing businesses,while the heads get tons of money.Talk about crony capitalism !
This administration harps constantly about any money given to oil companies even though they pay huge taxes.At least they are giving us a needed commodity,even though oil has gone u[p considerably the last two years, at a usable price.The so called green energy will come about when the private market finds ways to market it a reasonable price that the consumer will pay.In the mean time, lets drill for more oil and natural gas.We also have more coal than anyone in the world..Enough is Enough!!
When it was known that the company would fail, they even changed the rules that would have given the taxpayers first rights to any money left,instead giving it to private investors,who just happen to be big Obama supporters.What a coincidence!!This after the bond holders of GM were to get first pickings by law, but the Obama administration gave it to the unions first.
Now we find out that a company called Sunpower,received 1.2 billion in loans while owing $820 million,$20 million more than its market capitalization. According to Human Events, it traded at an all time of $133 in December of 2007.As of October 4Th, it was trading around $6.60 per share.Sound like this $1.2 billion will be gone soon,if not already.
The loan guarantee was to go to the California Valley Solar Ranch {CVSR}. According to the DOE, this project would create 350 construction jobs during the estimated two years to build this project.It would create a whopping 15 permanent jobs, which works out to a cool $80 million per job.What a deal!!But wait, they say that they would create an undetermined number of jobs building the panels, only these would be in Mexico.
This GREEN ENERGY PROGRAM is going to really help our already insurmountable debt and for what.Just a bunch of failing businesses,while the heads get tons of money.Talk about crony capitalism !
This administration harps constantly about any money given to oil companies even though they pay huge taxes.At least they are giving us a needed commodity,even though oil has gone u[p considerably the last two years, at a usable price.The so called green energy will come about when the private market finds ways to market it a reasonable price that the consumer will pay.In the mean time, lets drill for more oil and natural gas.We also have more coal than anyone in the world..Enough is Enough!!
OBAMA TO BYPASS CONGRESS ON HIS JOBS BILL:DO WE HAVE A PRESIDENT OR KING?
President Obama made the announcement that he has instructed some of his top people,including Valerie Jarrett,to scour the jobs bill and identify any part or parts that he can act administratively and bypass the Congress.This has to be done because his own party isn't particularly happy with the bill.They know it's a tax bill, not a jobs bill.
As a matter of fact, Senator Harry Reid had been saying for weeks that he wouldn't bring it up for a vote anytime soon because of other pressing matters.This as the President was criss-crossing the country saying "pass this bill, pass this bill now."
Last night the senate voted down the jobs bill with the help of a couple of Democrats,all the while Obama was blaming the Republicans for defeating the bill.The bill doesn't even have a sponsor in the House of Representatives,which appropriates the money for any such legislation.
One question to President Obama.Can we expect you to call out Reid and the other Dems who voted against your Jobs Bill, or you just playing politics?So far,it looks like you are playing politics.What a shock!! I remember Obama saying during his speech to the joint session of Congress,that it wasn't time to play politics with the Jobs Bill.Pass this just like it is and pass it now!!Then the Majority leader of the Senate, who is a Democrat last time I checked, refused to take it up and when he did he changed the part regarding whom to tax.
The President continues to pit Americans against each other,even though we heard all during his campaign that there would be no more partisan divides.He would bring us all together and sing Kumbaya. Actions, not words define the man.
We had almost $800 billion allocated and spent during the first stimulus and shovel ready jobs on our infrastructure were supposed to be a big part of it.Then when Obama was asked the question of why there weren't more shovel ready jobs created from the first stimulus,he responded, laughingly, that there weren't as many as we thought.Now, the majority of the next $447 billion,is to be spent on our infrastructure.Where did the first $800 billion go? Vice President Biden was supposed to make sure the money was spent right.What a person to put in charge of that.A man who has spent his whole adult life in politics spending our tax money, or should I say wasting our tax money.
The bottom line is that this bill will not create new long term jobs,just the opposite.It will kill new long term jobs by taxing the very people that create the jobs. They will refrain from doing so as long as their expenses go up and will even pass along the tax increases to the customer.That is you and me.
As a matter of fact, Senator Harry Reid had been saying for weeks that he wouldn't bring it up for a vote anytime soon because of other pressing matters.This as the President was criss-crossing the country saying "pass this bill, pass this bill now."
Last night the senate voted down the jobs bill with the help of a couple of Democrats,all the while Obama was blaming the Republicans for defeating the bill.The bill doesn't even have a sponsor in the House of Representatives,which appropriates the money for any such legislation.
One question to President Obama.Can we expect you to call out Reid and the other Dems who voted against your Jobs Bill, or you just playing politics?So far,it looks like you are playing politics.What a shock!! I remember Obama saying during his speech to the joint session of Congress,that it wasn't time to play politics with the Jobs Bill.Pass this just like it is and pass it now!!Then the Majority leader of the Senate, who is a Democrat last time I checked, refused to take it up and when he did he changed the part regarding whom to tax.
The President continues to pit Americans against each other,even though we heard all during his campaign that there would be no more partisan divides.He would bring us all together and sing Kumbaya. Actions, not words define the man.
We had almost $800 billion allocated and spent during the first stimulus and shovel ready jobs on our infrastructure were supposed to be a big part of it.Then when Obama was asked the question of why there weren't more shovel ready jobs created from the first stimulus,he responded, laughingly, that there weren't as many as we thought.Now, the majority of the next $447 billion,is to be spent on our infrastructure.Where did the first $800 billion go? Vice President Biden was supposed to make sure the money was spent right.What a person to put in charge of that.A man who has spent his whole adult life in politics spending our tax money, or should I say wasting our tax money.
The bottom line is that this bill will not create new long term jobs,just the opposite.It will kill new long term jobs by taxing the very people that create the jobs. They will refrain from doing so as long as their expenses go up and will even pass along the tax increases to the customer.That is you and me.
Monday, October 10, 2011
GOVERNMENT SHOULDN'T PICK WINNERS AND LOSERS
The Obama administration has the position that it is their job and duty to pick what businesses should make it in our free market economy.This comes from an administration void of people who have ever run a business or made out a payroll check.Gather up all of the educated economists in the country and it would be fortunate if we found a few who have operated or managed a business.
In the first place,if the Government had the power to pick winners and losers,they would pick them based on their ideologies, and not based on pure economics.Think SOYLANDRA!! They only received over $500 million and filed for bankruptcy less than 2 years later.The President has stated that we have to make bets, and that some of them are bad bets.Fine and dandy, but don't use the taxpayers money to be flushed down the toilet.
President Obama also stated that we can see things differently after the fact.In other words,hindsight is 20/20 vision.Not so fast.The President was repeatedly told by people in is own administration that this wasn't a good deal.Yet, he and the energy department went ahead with the guaranteed loan.
On Friday September 30Th, the energy department sent out more than $4 billion to other "green job" companies .They did so because it was the last day that they could do so without going through the whole process of getting the money allocated to do so. Congressman Darrell Issa,{R.,Ca.}, has asked the question what new information the energy department had to make these loans viable ,compared to what they had before.
The bottom line is that the Government or any public office can't pick winners and losers in a free capitalist Enterprise.Oh sure, they might get lucky and get 1 or 2 right, but it is very doubtful.Anything the Government runs is usually full of red tape, fraud ,and waste, and would not make it in the free market standing on its on.
This American Jobs Act is just another $500 billion of wasteful spending.What should have happened when this recession started,was to let the companies,banks and any other business, either make it on its own or file bankruptcy.As a result,we would be much farther along on a recovery. Instead, we have just prolonged the inevitable and make this recession longer and more far reaching than it should have been.
In the first place,if the Government had the power to pick winners and losers,they would pick them based on their ideologies, and not based on pure economics.Think SOYLANDRA!! They only received over $500 million and filed for bankruptcy less than 2 years later.The President has stated that we have to make bets, and that some of them are bad bets.Fine and dandy, but don't use the taxpayers money to be flushed down the toilet.
President Obama also stated that we can see things differently after the fact.In other words,hindsight is 20/20 vision.Not so fast.The President was repeatedly told by people in is own administration that this wasn't a good deal.Yet, he and the energy department went ahead with the guaranteed loan.
On Friday September 30Th, the energy department sent out more than $4 billion to other "green job" companies .They did so because it was the last day that they could do so without going through the whole process of getting the money allocated to do so. Congressman Darrell Issa,{R.,Ca.}, has asked the question what new information the energy department had to make these loans viable ,compared to what they had before.
The bottom line is that the Government or any public office can't pick winners and losers in a free capitalist Enterprise.Oh sure, they might get lucky and get 1 or 2 right, but it is very doubtful.Anything the Government runs is usually full of red tape, fraud ,and waste, and would not make it in the free market standing on its on.
This American Jobs Act is just another $500 billion of wasteful spending.What should have happened when this recession started,was to let the companies,banks and any other business, either make it on its own or file bankruptcy.As a result,we would be much farther along on a recovery. Instead, we have just prolonged the inevitable and make this recession longer and more far reaching than it should have been.
Subscribe to:
Posts (Atom)