A BAILOUT IS STILL A BAILOUT!

A BAILOUT BY ANY OTHER NAME IS STILL A BAILOUT!


Here we go again. Obama proposed today to spend another $10 billion to bailout underwater homeowners. This is in addition to the money he’s already thrown at the miserable housing market. The money he’s already spent has done nothing to help. So what does the Bailer in Chief do? More bailing, again and again and again.

And he wants the banks to charge a fee to pay for another ill conceived program. Does he not understand that any fees the bank charges will just be passed on to all of their customers? So Americans end up paying to bailout people who are in over their heads.

The program works like this. The banks will be forced by government mandate to refinance mortgages for borrowers whose interest rates are higher than what Uncle Obama thinks is fair. As many as 11 million borrowers may qualify for the scheme. Banks would be REQUIRED to reduce mortgage balances for homeowners whose mortgages are more than 140 percent of the value of their home. This new provision is supposed to be part of the already passed HARP (Home Affordable Refinance Program) legislation. But Google HARP. See what a failure it’s been. The new Bailout provisions are projected to save eligible taxpayers up to $3000 for the average borrower. To quality? You must be current on your mortgage. Well, excuse me, but millions of Americans are not current on their mortgages. They’ve lost their jobs. They can’t find work anywhere. They are losing everything. Lowering their mortgage balances and interest rates won’t help them. The biggest question? Why would Obama bailout homeowners who are not in trouble with their mortgages? VOTES! He’s feeding the beast that he thinks will elect him again. He’s buying votes with bailout money. So what’s new?

The banks can pass along the fee, making banking more expensive for the rest of us, and if they can’t collect enough fees to cover their Bailout losses, then oops, here we go again; Obama will just bail out the banks again. Any way you look at it, Americans are going to foot the bill for this stupidity.

Obama’s attempts to bailout the housing industry have only prolonged hitting the bottom, and the housing industry will not recover until it hits the bottom. Bailouts will not help. Jobs will help. Like the Keystone Pipeline, like drilling for oil in the Gulf of Mexico, like opening up every energy resource we have. No, not green energy jobs that he favors. Most of his “pet” companies are already bankrupt, dragging trillions of our tax dollars with them.

Bailouts will only add to our increasing deficit, which will be close to 4 trillion dollars for fiscal 2012 – added to the 16 trillion already spent. But what the heck does Obama care? He’s added over a trillion dollars every year since he took office. What’s another four, five or more? He’ll be out of office and won’t have to deal with the destruction he’s causing. Maybe he’ll go back to wherever he was born. We can always hope.

OUR BIG FAT GREEK BAILOUT

Hey, if you haven’t heard about this, Greece is being “bailed out,” and this week the stock markets responded with glee. Investors must think the world’s financial problems are over.

Greece is the birthplace of Democracy, where Capitalism once flourished. But let’s look at Greece today. It has become the poster child for the Womb to Tomb version of the Nanny State. How did Greece go from Capitalism to Socialism? They had a Big Fat Greek Wedding where the bride, the groom and all the guests were showered with presents, hand-outs, party favors, and gifts, and all future offspring blissfully jumped on the gravy train. But now the honeymoon is over.

Greece borrows 50% of what it spends. (The U.S. borrows 40% of what it spends.) Greece spends their borrowed money on over spending, over compensating, over promising, over regulating, over taxing, and over extending. Does this sound familiar?

Greece is leading the insolvency race, but watch out, here comes Portugal, Italy, Ireland, and Spain not far behind. Who’s to blame? European Socialism did this. The Greeks have become completely dependent on government social programs. And now they realize the government can no longer finance their schools, their colleges, their pensions, airports, hospitals, medical facilities, health care, and welfare programs. Greece has learned a brutal lesson. Socialism does not work.

Any government that cannot pay its bills cannot be trusted to handle its money. Greece has been unable to get anyone to lend it any more cash. It is saddled with extraordinarily high interest payments on loans Greece has already been given that they cannot repay. So Greece appealed to the European Union to bail it out. In other words, Greece wants other people to pay its debts.

Now the EU has agreed to do so, and here’s how it’s going to happen. This is such a convoluted plan you are going to have to pay attention here.

The European banks who have already loaned money to Greece will get back 50 cents on the dollar from Greece. Those same banks will then look to other governments they do business with for the remaining 50 cents. Example, if a German bank loaned one million Euros to Greece, they will expect Greece to repay ½ million, and the German government will pay the other half million. Now you are probably wondering where will the German government get their ½ million? From the German taxpayer. And when the German taxpayer can’t or won’t make the payments where will the money come from? You’ve got it! The Federal Reserve. And when the Federal Reserve can’t or won’t come up with the cash where will it come from? The International Monetary Fund. What is the IMF, you ask? That’s the loony Socialist World Bank, 1/3 of which is funded by the American taxpayer. That’s a cool one hundred billion dollars.

So now you know the truth. The ultimate Knight in Shining Armor for the Greek Socialist economy is YOU.

Now, you would expect that Obama would not approve of us financing the Greek bailout. After all, it’s not as if we have money to burn. And it would seem reasonable that he would understand, oh, you know, that banks and people who make risky investments must accept the consequences of those risks and cannot look to the taxpayer for a handout. Otherwise what’s to prevent them from making crazy, reckless investments in the future? You’d think that no one would lend a penny to the Greek government, since they’re obviously lacking in debt management skills. You’d think that Obama or someone in Congress would say NO to our involvement in this financial charade.

But you’d be oh, so wrong. This week Greece’s Rich Uncle Obama praised the solution and stood fully behind the IMF providing bailout funds to Greece. YOU are the answer to Greece’s financial problems.

While we have unemployment over 9% and while we borrow 40% of everything we spend from China, what are we doing bailing out Greece? To you Obamabots, is this what you elected him to do? Has Congress authorized this? No.

We are experiencing 5% inflation if you include food and fuel, continued high unemployment, and the continual erosion of the dollar. So why has Your Guy lubed up the feds money printing press and pledged billions of dollars of our kids’ future income to bail out Greece?

Does the U. S. Constitution allow The Bailout King to spend billions of taxpayer dollars on a European bailout? No, but he’s doing it anyway while thumbing his nose at the Constitution, at Congress, and at every American, while sending our debt clock into overdrive.

And it’d be so easy for him to Just Say No. He could do it by Executive Order. He uses the EO for everything else. This is one time where it would do some good.

PAUL RYAN FOR PRESIDENT? REALLY?

Last week the pundits from both political parties were full speed ahead on the rumor that Republican Paul Ryan of WI was seriously thinking about running for President. And while I believe Ryan probably has a better working knowledge of budgeting, deficits and the mess America is in than anyone else in Washington, I'm not sure he's a candidate I could support for president. I am looking for a True Conservative, small government, cut spending and do-it-now candidate. Ryan may not qualify.

Ryan proposed a budget plan to return the government to fiscal sanity - Maybe. Ryan is a passionate advocate for Conservative principles - Sometimes. Ryan's "Path To Prosperity" budget plan that came out in April was seen as a plan to return the federal government to fiscal sanity - Or was it?

When the plan came out it was trashed by Conservatives because it provided for spending to increase $4 trillion over the next five years. It reduces deficits but does not eliminate them until 2040, 29 years from now. This analysis is from the CBO. Ryan's budget projects the public debt increasing every year from 2011 to 2021. It shows the debt increasing to $16.2 trillion in 2012 and rising every year after that, going to $23.1 trillion by 2021. The plan does not address interest on the national debt. No credible proposal can ignore such a huge obligation. Forget eliminating deficits by 2040. It is financial and economic suicide to wait that long to solve our fiscal mess. And the main thing the elite media focused on was, "Oh, my gosh, Ryan wants to take away Medicare," which is a total lie and distortion of his proposal.

The other problem Ryan has is that he supported TARP, supported the debt-ceiling deal, supported Bush's spending binge, supported the auto bailout, supported big AIG bonuses. He has shown by his votes that he may have a problem understanding what Americans really want - an end to the spending, deficits and debt that led to the need to raise the debt ceiling.

The real crisis hanging over the American economy and our way of life, is not whether the debt ceiling was raised, but rather that we are borrowing 40 cents of every dollar we spend. Everyone knows this can't continue, yet no one in Washington has proposed a surefire way to end this slow national suicide. The deals being concocted in smoke-filled rooms and in the dead of night behind closed doors on Capital Hill are intended to get politicians past the 2012 election, and none of the deals solves the real crises. The so-called Super Panel as mandated in the "Debt Deal" is just another joke panel that will come up with nothing. Why isn't the House of Reps doing this work? That's THEIR job, not some hastily thrown together Super Panel. And our economy continues to BURN.

And while Ryan gets some points for proposing a plan to reform federal spending, which is way more than Obama and his henchmen have done (Dems haven't passed a budget in over 800 days), the Ryan plan doesn't cut it. It doesn't go far enough and it doesn't do it fast enough.

But I suppose it's better than nothing, "nothing" is what the Dems have proposed, and yet there it sits in the Senate. It was passed by the House and has languished in the Senate because the Democrat controlled Senate hasn't passed any of the 3 budgets the Republican controlled House passed. Ah, the nuances of politics.

The Republican establishment elites are making a colossal mistake if they think grass-roots conservatives don't understand the difference between a deal to raise the debt ceiling and a solution to the spending and deficit crisis. They are not one and the same. I'm not sure Paul Ryan gets it.

Bailing Out Europe

Did you see on the Web and in the papers that Elizabeth Warren, Harry Reid's appointed Congressional Oversight Panel Chair, says that US taxpayer dollars disbursed during the "bailout" went to foreign countries?

Yup, that's right. Taxpayer money from the TARP bank bailout went to FOREIGN COUNTRY BANKS.

Elizabeth Warren is currently under consideration by Obama to head a new federal agency, probably some agency created in one of his massive bills that the Democrats all voted for, and she and her panel admitted that "billions of dollars in US rescue funds would up in big banks in France, Germany and other nations."

So let's understand this. As the US economy struggles to recover and desperately needs job creation, while Obama/Pelosi/Reid tripled our national deficit in just one year -- and that's money we US citizens are going to have to pay back -- our tax dollars spent on the bank bailout were flowing overseas to big foreign banks. And Ms. Warren explained, "There were no data about where this money was going," meaning what the overseas banks spent it on.

ABC News reports, "The most egregious case? AIG, naturally, where tens of billions of US taxpayer dollars went to Deutsche Bank and Societe Generale, among others." 43 of the 87 financial institutions that benefited from the AIG portion were foreign - that's 49%.

So while German and French banks benefited from our cash, the US taxpayers are left paying the bill. And we still have no jobs!

And how did the Obama administration respond to this report? They said the report "shows that Treasury worked effectively with its overseas partners in a number of ways to address the global financial crisis." "WORKED EFFECTIVELY..." That's all Obama had to say as US taxpayer dollars flowed into the welcoming hands of foreign bank.

The bank bailout was bad enough, but to find out that much of the money has been flowing into foreign banks is outrageous.

YOU MUST VOTE IN NOVEMBER AND THROW THE TRASH OUT OF WASHINGTON. That means anybody in Washington who voted for TARP. Our vote is the only way to put a stop to their agenda, which is to destroy our country.