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| Bail Out Plan information |
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I have often reference Craig Huey in my blog. He does some pretty thorough research. Here is his take on the bail out plan that passed the Senate this week.
The Outrageous $810,000,000,000 Bailout: Obnoxious and Obscene Behind the lies, untruths and deceptions of the bailout scheme After the House of Representatives voted down the Paulson/Bernanke bailout, the Senate created their own monster, which is now headed back to the House. This bill has grown from just 3 pages to 338, filled with pork, self-interest and wasteful spending. Most upsetting, after all the talk about it in the presidential campaign about creating a “bipartisan” effort to cut national spending, earmarks and pork, over $100 billion has been added or given away for pet projects such as manufacturers of wooden arrows and gifts to American Somalia.
Who is to blame for this shameless and disgusting mess? What should be done?
After we see the final bailout scheme that our politicians have cooked up, I’ll answer those questions.
In the meantime…
Here are 7 key considerations to help you understand the deception behind this legislation
- Don’t believe the big lie. The power-hungry bureaucrats at the Fed and Treasury, the liberal politicians and the corporate self-interests would have you think this chaos is the result of deregulation or free enterprise gone awry. Wrong!
Example: Fannie Mae and Freddie Mac have become a Frankenstein creation of government—not of free enterprise or deregulation. It was a political Affirmative Action policy started under Carter, accelerated under Clinton and continued under Bush that helped create this mess. Not only did this social policy of government intervention create the huge subprime mortgage mess, but it was also filled with corruption.
Several years ago Congressman Barney Frank, Senator Chris Dodd and the liberal Democratic establishment refused to reform and control the growing disaster.
Click here to watch a three-minute video and you’ll understand the problem. - The Cure Will Be Worse Than The Disease The bailout doesn’t solve the underlying problem caused by…
- Bad government policy
- Out-of-control borrowing
- Federal Reserve irresponsibility
- Failed and outdated regulations
- And counter productive law and policy in the financial markets
- Escape from Responsibility. This bailout lets everyone off the hook. Wall Street. Irresponsible borrowers. Incompetent bureaucrats and government leaders. Corrupt politicians taking millions of donations from lobbyists.
For example, did you know Fannie & Freddie spent more than $200 million lobbying congress to protect their massive million dollar salaries?
All these groups are escaping responsibility while the taxpayer is going to be stuck. The result will be higher inflation, higher taxes and more debt for our kids and grandkids.
And worst of all, a prolonged economic downturn that will hurt us all for years to come. - Fear. Creating a climate of fear and forced decision-making go against everything our Founding Fathers wisely advised against. At the very least, thankfully, the original concept of a blank check to an unelected bureaucrat was rejected.
- Free market alternatives. There are a lot of good ideas that could instantly help the problems without higher taxes and greater regulations. Let’s implement them first. These include lowering the capital gains tax, lowering the corporate income tax and getting out of the insane mark-to-market rules.
- Don’t fall for class warfare. The Politics of Envy and the Politics of Self-Interest are two moral evils I speak about at the Election Forums. We must rise above this.
- Pray, pray, pray. Please add to your prayer list the financial crisis as well as Congress and the decision makers.
Pray they make the right decisions. Pray they don’t act out of fear, but with wisdom.
Most of all pray for guidance for our nation’s leaders.
Let me know what you think at craig@electionforum.org |
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| To add a comment to "Bail Out Plan information" |
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| October 03, 2008 |
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"Escape from Responsibility. This bailout lets everyone off the hook. Wall Street. Irresponsible borrowers."
I am very weary of hearing political leaders almost entirely negate the fact that greed is just as much a problem with the borrower as it has been with the unethical practices of the lending institutions: The presidential races seems to have side-skirted the issue that the problem is that the majority of Americans have created a culture of greed. The lender is no more at fault than the borrower who clearly made an agreement to live beyond their means. I am relieved to see "Irresponsible borrowers" added to this list.
It is time to learn and pay for our mistakes and not pass them on to our children: That's the Truth.
(However, Mrs. Palin did address this issue last night at the end of her comments on this subject in the VP debate; very carefully I might add) |
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| October 03, 2008 |
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| Isn't this crazy! Voice, is their a link or site we can turn to to write in or 'voice' our opinion about this matter? A legislative link possibly.... |
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| October 03, 2008 |
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| Cheryl, the best way to do it is to go to your Congressional Representative's web site and send them a comment. That is what I have been doing. It usually works well. |
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| October 03, 2008 |
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| ...especially since all the House is up for reelection this year...they want to appear responsive... |
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| October 03, 2008 |
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Awesome, so true..
Thanks~ |
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| October 03, 2008 |
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| great information! |
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| October 03, 2008 |
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| Welcome to the "New World Order"!! It passed and the left wing Moon-Bats are happy!!! |
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| October 03, 2008 |
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| Funny...starting at 2:15, the Dow has plunged almost 250 points...it was having a good day...until the bill passes... |
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| October 03, 2008 |
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| The Outrageous $810,000,000,000 Bailout: Obnoxious and Obscene Behind the lies, untruths and deceptions of the bailout scheme
Well they got away with it even though polls indicate 80% of the public were against it.
They con You to vote for them to get into office (power) then they have no evidence of representing
the People by the way they vote ...they enjoy the power as to abuse it for merely their own gains.
They are in bed with every special interest group.....their decisions are for only their best interests.
Your $$$..& not the best interests of the People......How is it possible we have these dishonest
politicians...even in power at all ...are we all just so in the dark that we do not understand what white collar Crimes they are committing??
If I ROB a Bank & get Caught I go to Jail......Our Government & Wall Street gets away with Robbing
All of the assets of America.
This is the largest...Financial...Holocaust....That is as Evil as Hitler.....this in fact was a Plan of Hitler
by counterfeiting & printing Money to destroy us.
Inflation will Resume now....Yet the value of the exchange rate of the American $$$ will be Very
De-Valued...or worthless.
Not a Solution at all.....It is a Holocaust.... Should never, never have come to this.
Would we or should we give Adolf Hitler...700 Billion $$$$ for Killing 6 million Jews.
This is the rewarding the Criminals are now to receive......Our Government has so Decayed.
Bill O'Reilly......Tell em....off.....but the seriousness of all of this is just beyond imagination.
Are the People ...The Church just like this is just no big deal to be concerned about ??
Notice that last nights Vice presidential Debate this topic was not even addressed much at all.
Republicans & Democrats....Both Pro Financial Holocaust......????
Both Parties Both Candidates.........Voted for......Financial.....Holocaust.........America Wake - UP
Wake - UP CHURCH !!!!
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| October 03, 2008 |
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| Michael makes a good point...everyone of these people is up for reelection in a month. This is a significant item where they did NOT represent the people... |
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| October 03, 2008 |
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Greetings Beloveds: Jesus and the Apostles continue to weep the intense tears of the betrayed for the ineffectiveness/lukewarm nature of today's christian (lower case "c"). The words that no one wants to hear: Willingly blind and gullible, lacking discernment, in this world and of this world - voluntary slaves to men and their systems. I am so sorry for this. You will see the facts clearly in the upcoming election. They will continue to vote for those that enslave them. Christians (with a capital "C") are continuing to be drawn out. Wheat from chaff. Sheep from goats. And this is only the beginning. I weep too... for you, dear christians. I weep too. As for me and mine - I will continue to serve the needy. Not the greedy. JamesAD62 -------------------------------------- Live Jesus. Be Church. |
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| October 03, 2008 |
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Mike must have deleted his comment about American Somalia...he noted there is no such thing...I am assuming that was a spell check mistake.
I just completed reading the bill. It is massive. Lots of added provisions - mostly tax related extensions such as deductions for elementary school teachers. If you want to read it here is the link: http://www.house.gov/apps/list/press/financialsvcs_dem/essabill.pdf. The mention of American Samoa is for the extension of the Tax Relief and Health Care Act for another two years - meant to stimulate the economy there.
Worth noting:
1. It raises the debt limit to over $11 trillion.
2. It creates several oversight organizations.
3, It includes a joint activity between Treasury, Housing and Urban Development, and FDIC
4. It creates a new Assistant Secretary of the Treasury.
5. It includes lots of reporting requirements - transparency seems to be the rule here. In some cases every 30 days.
6. It allows the Executive Branch to spend at $50B intervals. Then they have to come back to Congress to ask for more.
7. It attempts to limit Executive Compensation to $500,000 for any year that the government takes over a company.
8. It outlines limits of law suits and restraining orders (I bet some lawyers are already thinking this will be how they get in front of the Supreme Court).
9. It appears to me to be very similar to the bill that created the FDIC and the one for the Savings and Loan bailout.
10. There is wording that provides for relief for homeowners with mortgages and insurance that fall within the "troubled asset" criteria. |
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| October 03, 2008 |
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Saw your
memo that
the return
feature was
back! Just
had to
check it
out! If
it's true,
woohoo!
(Oh yeah,
good blog!)
:) |
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| October 03, 2008 |
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| what is a return feature ???? I don't get it! |
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| October 04, 2008 |
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| Define Democracy in America: The government of the people (those in power politically and financially), by the people (those in power politically and financially), for the people (those in power politically and financially). Catch my drift? In politics we call this an Oligarchy. |
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| October 04, 2008 |
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These Politicians....That voted Yes Claimed that businesses - Car Dealers & All sorts of Businesses....
called them to do the Deal.
Well Those Car Dealers that is Just Tuff.....There is is a Car Dealer In That Town That Runs His Business
Very CONSERVATIVE.....has Reserves...$$$$...Funds saved for the Rainy Day.....The Businesses That
called should Not Even be In Business....They Live Far too Beyond their Means...running on Credit...
not their own investment....Now if that Guy failed The Real Demand for a CAR could be supplied by the Conservative Car Deal ..& He should be rewarded...for running His Business Good..He would be selling more cars, employing more personel....more $ to payrolls....But Tuff luck for the Cry Babies....But Our Leaders
cuddled the Cry Babies....These People are users & abusers of their Employees...They Think they
are the Elite, They Deserve My Money to Keep afloat.....MY Tax Dollars....So That Car Dealer stays in Business...If this Deal would not have passed the conservative businesses would fill the demand for Goods & services....& the Public would most likely have received much Better Service.
The Conservative Businesses should have been Rewarded by the Strong will Survive....& The Weak Cry Babies would have Failed.......This is Just far beyond ..FED UP !!!
Now That was the Most Stupid Logic I have ever Heard....I know who Runs Conservative Business
in My City & I can Pick Them Out in any City. I Support those Businesses They Generally take much Better care of their Customers & Their Employees. |
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| October 04, 2008 |
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Here This is in Step with where we are heading.......No We have arrived.
Tax truth
At first I thought this was funny...then I realized the awful truth of it.
Be sure to read all the way to the end!
Tax his land,
Tax his bed,
Tax the table
At which he's fed.
Tax his tractor,
Tax his mule,
Teach him taxes
Are the rule.
Tax his cow,
Tax his goat,
Tax his pants,
Tax his coat.
Tax his ties,
Tax his shirt,
Tax his work,
Tax his dirt.
Tax his tobacco,
Tax his drink,
Tax him if he
Tries to think.
Tax his cigars,
Tax his beers,
If he cries, then
Tax his tears.
Tax his car,
Tax his gas,
Find other ways
To tax his ass
Tax all he has
Then let him know
That you won't be done
Till he has no dough.
When he screams and hollers,
Then tax him some more,
Tax him till
He's good and sore.
Then tax his coffin ,
Tax his grave,
Tax the sod in
Which he's laid.
Put these words
upon his tomb,
" Taxes drove me to my doom..."
When he's gone,
Do not relax,
Its time to apply
The inheritance tax.
Accounts Receivable Tax
Building Permit Tax
CDL license Tax
Cigarette Tax
Corporate Income Tax
Dog License Tax
Excise Taxes
Federal Income Tax
Federal Unemployment Tax (FUTA)
Fishing License Tax
Food License Tax
Fuel Permit Tax
Gasoline Tax (42 cents per gallon)
Gross Receipts Tax
Hunting License Tax
Inheritance Tax
Inventory Tax
IRS Interest Charges IRS Penalties (tax on top of tax)
Liquor Tax
Luxury Taxes
Marriage License Tax
Medicare Tax
Personal Property Tax
Property Tax
Real Estate Tax
Service Charge Tax
Social Security Tax
Road Usage Tax
Sales Tax
Recreational Vehicle Tax
School Tax
State Income Tax
State Unemployment Tax (SUTA)
Telephone Federal Excise Tax
Telephone Federal Universal Service Fee Tax
Telephone Federal, State and Local Surcharge Taxes
Telephone Minimum Usage Surcharge Tax
Telephone Recurring and Non-recurring Charges Tax
Telephone State and Local Tax
Telephone Usage Charge Tax
Utility Taxes
Vehicle License Registration Tax
Vehicle Sales Tax
Watercraft Registration Tax
Well Permit Tax
Workers Compensation Tax
STILL THINK THIS IS FUNNY?
Not one of these taxes existed 100 years ago, and our nation was the most prosperous in the world. We had absolutely no national debt, had the largest middle class in the world, and Mom stayed home to raise the kids.
What the hell happened? Can you spell "politicians!"
And I still have to "press 1"
for English.
I hope this goes around THE USA at least 100 times |
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| October 05, 2008 |
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I just put up a blog which addresse this problem called "The cumming Depression" I'm sorry it's so light. I wanted it "bold" but, this web site does not always give you what you want.
The intire problem, as explained in my blog is "unconstitutional." Our politicians are sworn to uphold the constitution. This "taxation without representation has been going on since the 1930s. starting with the 1913 Federal Reserve act. I love this country and the great people in it. most, are fine hard working good people. Those who have ever fought for this country and bleed on foreign soil. Will know my sincere feelings of my deep anger and how it hurts to think the fine men I fought with feel in battle. Only to let these soulless people do what they are doing and not even caring. actually daring us to do something about it. we need some ideas to stop this and bring the power back to the people. "We the People" not the elite, "The People" This has been a sad week for me as I'm sure it has for many of you. I pray God is watching. So many have done so little to keep America as it should be!! |
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| October 05, 2008 |
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| Golden, not only is God watching. He is still on the throne ruling. |
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