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.

GREAT BIG JOBS GOOSE EGG

Today in Detroit, MI, Teamsters President Jimmy Hoffa, Jr. had some profane, combative words for Republicans and Tea Partiers while warming up the crowd for Obama’s “Let’s Put America Back To Work” speech.

"We got to keep an eye on the battle that we face: The war on workers. And you see it everywhere, it is the Tea Party. And you know there is only one way to beat and win that war. The one thing about working people is we like a good fight. And you know what? They've got a war, they got a war with us and there's only going to be one winner. It's going to be the workers of Michigan, and America. We're going to win that war," Jimmy Hoffa Jr. told a heavily union crowd.

"President Obama, this is your army. We are ready to march. Let's take these sons of bitches out and give America back to an America where we belong," Hoffa added.

And then it was Obama’s turn to address the crowd. And when he took the stage he said he was "proud" of Jimmy Hoffa and other labor leaders. Obama didn’t chastise Hoffa for his inflammatory “fightin’ words.” He didn’t tell him to speak more peacefully, to stop the threats and name calling, to end the political posturing. No, Obama went on to use the same tactics to denigrate Tea Partiers and the Republicans. Today Obama spoke not to Americans but to Labor Unions and workers. Barack Obama sees America as the United States of Unions, not the United States of America. Hoffa and Obama, take note. Union workers are not the ONLY workers in America. In fact, there are more non-union workers than union workers. Get it?

There is a certain irony in Obama speaking on Labor Day to Labor Unions about jobs creation when his policies created NO jobs last month and his big picture job creation policies are a big fat Goose Egg.

I listened to Obama today, something I seldom do because his empty promises and lies disgust me, but today I did listen closely to get a glimpse of what his great “Jobs Plan,” set to be announced in full later this week, will be. Know what I heard him say today?

First, I heard him imply that the unemployment rate is the fault of the Tea Party Congress and the Republicans. HUH?

Then I heard The Boy Wonder chastise Republicans for “taxpayer bailouts.” He said “no more taxpayer bailouts.” He must have forgotten who approved all of the other Taxpayer Bailouts. What a short memory.

I heard Him say he will “end wasteful giveaways to big banks.” Really? Who doubled down on “giveaways” after he took office?

He also touted the cars coming out of Detroit saying “American auto workers could build the best cars in the world.” Oh, he must mean the government mandated Chevy Volt, the electric car that no one wants (GM sold 125 in July), the car that costs up to $45,000 but needs a $7500 tax credit (plus other state and city incentives) to entice Americans to purchase this tin can death trap. The car that travels 25-50 miles on a charge, has no charging stations where you can recharge it, since Costco just closed the charging stations they installed 2 years ago due to lack of use. He must be talking about this amazing American car.

And then PBO said, “I am fighting for a chance to give our kids a better life than we had.” How ignorant of him. He must not understand simple economics. Too much debt equals bankruptcy and financial failure. Give our kids a better life? Not under Obama’s watch. But a bigger debt? Well, Happy Birthday kiddies, here’s your present. Hope you get it paid for in your lifetime.

Obama said he doesn’t like “favoritism, and we need the same set of rules from Wall Street to Main St.” Does that mean he is giving up on back room deals in the wee hours of the morning to buy votes for his pet projects? Remember Obamacare? All of the promises he made to companies and legislators to get the bill passed, but now he’s issued thousands of “waivers” to select companies and MOST unions, stating they do not need to comply with this behemoth of a bill. Is this what he means by “favoritism?” And what about The Dream Act? It was rejected by both parties in Congress, but now Obama has figured out a way around Congress and is giving Amnesty to millions of illegal immigrants. “Favoritism? “ I think so. And what about Cap and Trade, which was also turned down by Congress? Well, Obama’s EPA is now regulating coal so heavily that 10% of existing coal fired plants will be forced out of business within a few years. Remember when Candidate Obama said “under my administration energy bills will necessarily have to skyrocket?” No oil drilling on our shores? Halted oil drilling in our waters? Economic disaster? No jobs? How is any of this Fair?

Black favoritism? How about when the DOJ refused to prosecute Black Panthers on voter intimidation charges when the DOJ had video proof of the incident?

Maybe the first elected Black President thinks its “Fair” that the unemployment rate for Black Americans is the highest it’s been in 27 years, far higher than the rate for other segments of American society.

The worst example of Obama fairness? How about the torrent of new regulations unleashed by this Administration? Since taking office in January 2009 Obama and his appointed henchmen have imposed 75 new MAJOR regulations, with additional costs exceeding $40 billion annually. No other President has ever burdened businesses, individuals and our economy with a higher number and larger cost of regulations in a comparable period.

And a great many more new rules and regulations are looming. The spring 2011 Unified Agenda lists 2,785 rules (proposed and final) in the pipeline. Of those, 144 are classified as “economically significant.” With each of the 144 pending major rules expected to cost at least $100 million annually, they represent at least $14 billion in new burdens each year. This is the biggest reason the job growth rate last month was ZERO. Oh, fairness, how sweet it is.

And the most egregious thing he stated? He said “Democrats and Republicans worked together to give families a tax cut that is going to expire soon.” I believe he’s referring to the extension of the Bush tax rates that were renewed last year. But how short is his attention span? The Republicans were in favor of extending the Bush tax rates and Obama and the Dems didn’t want to do it. Remember the huge battle in Washington to get it done and the Democrats had to be dragged kicking and screaming to the table? Now Obamaliar is taking credit for “working together” in giving families a tax cut. And I can’t figure out whether this colossal idiot really believes his own lies or is just too stupid to know what he says is nuts.

Take a good look, America, it’s pretty evident the 2012 OBama campaign will consist of viciousness, name calling, threats, thuggery, lies and the “it’s not my fault, Bush is to blame.” Or better yet, “Congress and the Republicans are to blame.” He surely cannot run on his record of job growth, spending, lowering unemployment, economic growth, Obamacare, fixing the housing mess or uniting America. When a president has failed so miserably on so many fronts, all he has left is name calling, mud slinging and finger pointing.

The Obama job creation proposal this week will consist of the same pathetic plan – spend more money, run up more debt, tax the rich. He’s already flushed 80 billion stimulus dollars down the drain with ZERO jobs created. His “tax the rich” mantra is simply taking money already in circulation and redistributing it. He should face it! He has no solution. Government is NEVER the answer. Government is NEVER the solution. More stimulus = more zero jobs created. Remember, in return for adding nearly $3 trillion in federal debt in two years, we still have 14.9 million unemployed Americans, millions more if you count the underemployed and those no longer looking for work.

But I have a suggestion. Obama, are you listening? There is a great deal you and Congress can do to alleviate the job-killing consequences of excessive regulation, and the need for action is now. Remove EVERY regulation all governmental bodies have enacted in the last 8 years. Simply get rid of them, declare them not on the books. You know the power of the Executive Order, since you use it willy nilly. You can wave that magic EO wand and declare them Gone.

Then get out of the way and watch private industry, large and small businesses and Americans take off and save this economy.

Auto Bail Out Fiasco - Tens of Thousands of Lost Jobs

Remember the bailout of GM and Chrysler by Washington? Well, at a time when the country was experiencing the worst economic downturn in generations and the Government and Obama's Auto Team (headed by Mr. Bloom, appointed to handle the bailouts) were asking the taxpayers to support a 787 billion dollar stimulus package designed primarily to preserve jobs, the Auto Team made a series of decisions that substantially contributed to the accelerated loss of tens of thousands of jobs due to closing thousands of dealerships. Their actions added many, many thousands to the unemployment rolls -- all based on a theory and without sufficient consideration of the decisions' broader economic impact.

When Mr. Bloom was asked specifically whether the Auto Team could have left the dealerships out of the restructurings he confirmed that the Auto Team "could have left any one component of the restructuring plan alone," but that doing so would have been inconsistent with the President's mandate for "shared sacrifice." So Obama's policy of "shared sacrifice" cost this country tens of thousands of jobs. Did he care? Doubtful.

And the "shared sacrifice" didn't extend to the GM bond holders. They got practically nothing out of their investment in the company, while the unions got most of what they wanted - guaranteed pensions, owning a large portion of the company, etc. Doesn't sound like "shared sacrifice" to me. Oh, I forgot, everyone shares in the sacrifice except the unions. That's par for the course for Obama and the Democrats.

Funny, isn't it, that Obama and the Auto Team were certain that dramatic and accelerated dealership closings were necessary immediately to help GM/Chrysler become viable again, and now these same companies have offered reinstatement to hundreds of dealerships without concern that such reinstatement would threaten their viability.

And remember the speed with which this happened? It had to be done IMMEDIATELY, it was crucial to "ACT QUICKLY," according to Obama and his Auto Team.

Just another joke perpetrated on us by our supposed president.

Be sure to vote in November. It's the most important election of our lives.