Here is a campaign ad put together by the Catholic Church. It's very powerful and highlights the beliefs of Catholics, Christians and others. It's rare that the Catholic Church would draw such a distinct line in the sand, but they have. The video discusses Family, Jobs, Taxes, Energy, Economy, Marriage, Life, and Religious Freedom. It is an indictment of the policies of Obama and the Democrats and sends a very real message to them - don't mess with the Catholic Church. Remember that if Obama gets away with dictating to the Catholic Church, your religious beliefs may be next. Watch it here and invite others to see it. Change will only come in November if Americans are greatly fed up with the current administration and vote them all OUT of office. And then we have to demand that a new administration listens to We, The People.
Showing posts with label economy. Show all posts
Showing posts with label economy. Show all posts
Monday, June 25, 2012
Monday, August 15, 2011
THE "IT'S NOT A POLITICAL BUS TOUR," POLITICAL BUS TOUR
Mr. Obama seems to be unable to tell the truth. He is on a "bus tour" that he claims is not a campaign tour. C'mon, Mr. O., the American people are not as stupid as you'd like to think we are. You are touring four "battleground" Midwest states, "swing states" that you know are independent and could vote either way in 2012. But nothing new here. USA Today reported on July 17 that half of the travels Mr. O. made to 40 states in the last 2.5 years were to "swing states." These states will likely determine the winner of the presidential race in 2012. Mr. O stated today in one of his non-campaign campaign speeches, "I know it's not election season yet, but..." That sure sounds like campaigning to me.
Who does he blame for the current U.S. economy and the S & P downgrade of our credit rating? Well, he blamed the Japan earthquake, he blamed the Arab Spring unrest, he blamed the Republicans for acting badly, and he blamed a host of other things. He didn't, however, point the finger back at His Highness, where the finger pointing truly belongs.
Policies in place for incumbent presidents running for re-election are based on legal opinions from the DOJ and FEC which say that "taxpayers should cover the cost of official presidential travel, while travel relating to the campaign will be reimbursed to the government through campaign funds." There's plenty of campaign money already in Obama's coffers. He shouldn't get away with sucking up taxpayer funds that taxpayers don't have. Remember our 9.2% unemployment rate, our miserable economic growth, gyrating financial markets, our credit down grade, our HUGE national debt? But Mr. O. sees nothing wrong with stealing public money for campaigning, and Chicago politics prevail again.
Did he have any new ideas in his speeches today? Well, he trumpeted more spending on "infrastructure" to put people back to work. Something like his "shovel ready jobs" he promoted in 2008. But wait, I seem to recall his stating recently that the 2008 "shovel ready jobs weren't as shovel ready as we thought." New idea? No, just more of the same old tax and spend.
You will probably see him as he enters and exits the shiny new buses he and his entourage are traveling in. Do you know what they cost? $1.1 million dollars EACH. They were newly purchased by the Secret Service for the purpose of "busing" the president around on his non-campaign bus tour. I can hardly wait until the total cost of his "meeting with Americans" trip is tallied, that we will collectively pay for: hotels, food, transportation, gasoline for 150 vehicles, choppers, security at approximately $1 million per day, and a myriad of other costs. He has no remorse or shame.
It appears to me that he is always campaigning and never governing. He promises great unity (remember, he said he would unite the country), but he promotes partisanship by blaming everyone and everything for his failures.
What's he going to do when he returns to Washington? The Obama family will be leaving for a 10 day vacation to Martha's Vineyard. Well, thank God it's not some foreign country which would cost us more millions. But I, for one, am sick of paying for his four year vacation. But on the other hand, maybe it's good that's he's not in Washington doing yet more damage.
Who does he blame for the current U.S. economy and the S & P downgrade of our credit rating? Well, he blamed the Japan earthquake, he blamed the Arab Spring unrest, he blamed the Republicans for acting badly, and he blamed a host of other things. He didn't, however, point the finger back at His Highness, where the finger pointing truly belongs.
Policies in place for incumbent presidents running for re-election are based on legal opinions from the DOJ and FEC which say that "taxpayers should cover the cost of official presidential travel, while travel relating to the campaign will be reimbursed to the government through campaign funds." There's plenty of campaign money already in Obama's coffers. He shouldn't get away with sucking up taxpayer funds that taxpayers don't have. Remember our 9.2% unemployment rate, our miserable economic growth, gyrating financial markets, our credit down grade, our HUGE national debt? But Mr. O. sees nothing wrong with stealing public money for campaigning, and Chicago politics prevail again.
Did he have any new ideas in his speeches today? Well, he trumpeted more spending on "infrastructure" to put people back to work. Something like his "shovel ready jobs" he promoted in 2008. But wait, I seem to recall his stating recently that the 2008 "shovel ready jobs weren't as shovel ready as we thought." New idea? No, just more of the same old tax and spend.
You will probably see him as he enters and exits the shiny new buses he and his entourage are traveling in. Do you know what they cost? $1.1 million dollars EACH. They were newly purchased by the Secret Service for the purpose of "busing" the president around on his non-campaign bus tour. I can hardly wait until the total cost of his "meeting with Americans" trip is tallied, that we will collectively pay for: hotels, food, transportation, gasoline for 150 vehicles, choppers, security at approximately $1 million per day, and a myriad of other costs. He has no remorse or shame.
It appears to me that he is always campaigning and never governing. He promises great unity (remember, he said he would unite the country), but he promotes partisanship by blaming everyone and everything for his failures.
What's he going to do when he returns to Washington? The Obama family will be leaving for a 10 day vacation to Martha's Vineyard. Well, thank God it's not some foreign country which would cost us more millions. But I, for one, am sick of paying for his four year vacation. But on the other hand, maybe it's good that's he's not in Washington doing yet more damage.
Monday, November 29, 2010
QUANTITATIVE EASING 101
Ever heard of Quantitative Easing? It's what Ben Bernanke, the Federal Reserve and Obama are doing right now to attempt to solve our economic blues. Obama and the Feds did it once already with the Stimulus Bill for around 2 trillion dollars. They are doing it again now for another $600 billion. This time with no vote from Congress.
They simply say "we are going to infuse $600 billion into the economy to try to create jobs." In other words, we are going to spend money we don't have. Then they decide, "But we are broke so we have to print money to make the purchase." This means they go into their little back room, rev up the printing presses, roll out the bills, grab a bunch of them in their fists, take them down the hall to the room next door and give them to the U.S. Treasury to purchase our Treasury Bonds, which is how we finance our debt. DO YOU GET THIS? We are printing our own money to buy our own Bonds. It's a Ponzie Scheme, a Bernie Madolff moment. But it's our government who's running the scam. This is lunacy! Why do Ben Bernanke and Tim Geitner, our Treasury Secretary, still have a job??
Beware, our biggest threat doesn't come from a foreign terrorist. Our biggest threat is the traitor and his czars sitting at the end of Pennsylvania Avenue.
Watch this video for a concise explanation of Quantitative Easing 101. Watch it to the end. It explains it pretty well.
They simply say "we are going to infuse $600 billion into the economy to try to create jobs." In other words, we are going to spend money we don't have. Then they decide, "But we are broke so we have to print money to make the purchase." This means they go into their little back room, rev up the printing presses, roll out the bills, grab a bunch of them in their fists, take them down the hall to the room next door and give them to the U.S. Treasury to purchase our Treasury Bonds, which is how we finance our debt. DO YOU GET THIS? We are printing our own money to buy our own Bonds. It's a Ponzie Scheme, a Bernie Madolff moment. But it's our government who's running the scam. This is lunacy! Why do Ben Bernanke and Tim Geitner, our Treasury Secretary, still have a job??
Beware, our biggest threat doesn't come from a foreign terrorist. Our biggest threat is the traitor and his czars sitting at the end of Pennsylvania Avenue.
Watch this video for a concise explanation of Quantitative Easing 101. Watch it to the end. It explains it pretty well.
Tuesday, October 19, 2010
SHOVEL READY JOBS? YEAH, YOU BETCH'A
Well, well, Obama fessed up yesterday. He believes there is no such thing as a "shovel-ready job."
But wait, you say, wasn't "shovel-ready" jobs one of Obama's and the Dem's main selling points while shoving the stimulus package down our throats? That's all we heard on TV was how the almost $1 trillion will go immediately to "shovel-ready" jobs and will so stimulate the economy that unemployment won't go above 8.5%. In fact, Obama pledged that his "bold agenda" of "shovel-ready projects" would create 2.5 million new jobs. I got so sick of hearing the "shovel-ready" term that I wanted to hit someone with a shovel! Because I didn't believe a word of it.
And months later when the economy hadn't started to turn around Obama said it again. And months after that he bragged about it again stating that stimulus money helped fund "100 shovel-ready projects.... which are beginning to create jobs." And Biden's hum-drum has been the same spurious deception.
But after 2 years and unemployment not moving under 9.5%, and probably more like 17% when under employed and the aren't-looking-anymore are counted, Obama finally admits his own Stupidity. Or is it his Lack of Experience? Or maybe he's just Inept?
"THERE'S NO SUCH THING AS SHOVEL-READY PROJECTS." Those are Obama's exact words.
We Doubters knew it all along. Want my opinion? I think the Pretender President should be impeached and tried for treason. He's not fit to be a dog catcher, much less the President of the U.S. He ran for office trying to convince the American public he had a brain. He obviously doesn't.
But wait, you say, wasn't "shovel-ready" jobs one of Obama's and the Dem's main selling points while shoving the stimulus package down our throats? That's all we heard on TV was how the almost $1 trillion will go immediately to "shovel-ready" jobs and will so stimulate the economy that unemployment won't go above 8.5%. In fact, Obama pledged that his "bold agenda" of "shovel-ready projects" would create 2.5 million new jobs. I got so sick of hearing the "shovel-ready" term that I wanted to hit someone with a shovel! Because I didn't believe a word of it.
And months later when the economy hadn't started to turn around Obama said it again. And months after that he bragged about it again stating that stimulus money helped fund "100 shovel-ready projects.... which are beginning to create jobs." And Biden's hum-drum has been the same spurious deception.
But after 2 years and unemployment not moving under 9.5%, and probably more like 17% when under employed and the aren't-looking-anymore are counted, Obama finally admits his own Stupidity. Or is it his Lack of Experience? Or maybe he's just Inept?
"THERE'S NO SUCH THING AS SHOVEL-READY PROJECTS." Those are Obama's exact words.
We Doubters knew it all along. Want my opinion? I think the Pretender President should be impeached and tried for treason. He's not fit to be a dog catcher, much less the President of the U.S. He ran for office trying to convince the American public he had a brain. He obviously doesn't.
Sunday, September 26, 2010
OBAMA KNOWS IT'S NOW OR NEVER
Agenda, we all know what that means. And that is exactly what Obama and the liberal progressives in Washington/Congress had when they took control of our government. And here we are, two years into their "agenda," and they have pushed through the most damaging package of legislation in American history.
There's Obamacare which puts the feds in charge of 1/6 of our economy, driving prices up, driving competition out, and driving quality down. A bill that Nancy Pelosi said we'd have to read to know what was in it. A bill that adds 17,000 new IRS agents to administer the monstrosity. A bill that most in Washington didn't read before voting to pass it.
There's the one trillion dollar "stimulus" bill that miserably failed to reduce unemployment, but instead increased it. A bill that contained billions of dollars in wasteful spending and thousands of pork projects. A bill that almost everyone in Washington didn't read before voting for it.
There's the supposed financial "reform" bill regulating every aspect of our financial life and imposing massive fees (can you say "taxes") on everything we do financially. A bill that its sponsor, Sen. Chris Dodd (D-CT), admits are "unknown" and stated that he didn't read it before voting for it. For Crying Out Loud, he sponsored it and he doesn't know what's in it?
And then there's creation of DEBT on a scale unknown in the history of the entire world.
No one can comprehend what the consequence of this massive debt will be on Americans and future generations. They have put us on a mad dash to economic ruin.
AND SO IT'S "NOW OR NEVER," AND THE HANDWRITING IS ON THE WALL.
They know how angry Americans are, and they realize their power will be gone in January when a new Congress will be seated.
But the Obama Fantasy Cruise has other things they'd like to bring on board before the ship sinks.
Cap and Trade, which is nothing more than a license to cheat and steal. This will include additional bans on any and all oil drilling in the U.S. It will cost families thousands of dollars a year in taxes and cost more than a million jobs.
Amnesty for illegal aliens disguised as "comprehensive immigration reform." This will keep taxpayers shelling out billions in social services costs, create millions of new "liberal" voters, and encourage millions more illegals to stream across our borders and wait for the next "amnesty."
Value Added Tax (VAT). This is a tax added to everything produced in this country at every stage of production. It is a huge tax for all Americans. It's another convoluted tax added to the already convoluted confiscatory tax system we currently have.
Card Check. Obama and the Liberals want this badly. It's a plan to take away secret ballots in elections where workers decide whether to unionize. Non-secret ballots create a climate of intimidation and coercion, forcing non-union workers to vote for unionization to avoid harassment.
And Obama and the Liberals know It's Now Or Never. They know they will lose their majorities with the November elections. But the newly elected representatives won't be seated until January.
BEWARE, November to January is considered the "Lame Duck Session." These sessions are typically for minor legislation that didn't get done in the regular session or for big legislation that has wide support from both parties and Americans.
But in this case it's a time for Obama and the Liberals to bring on board everything on their wish list because they know It's Now Or Never.
And there is nothing Americans can do to stop it except put pressure on current elected officials not to further destroy this country by pushing through a raft of far-reaching laws that will increase our debt, regulate, tax and more deeply annihilate our economy.
I ask you to contact your current representatives, both Senate and House, and tell them you want NO LARGE LEGISLATION SHOVED THROUGH IN THE LAME DUCK SESSION. My web site www.americasmrsright.com has links to the Senate and the House.
It's imperative that we stay involved and vocal leading up to November, and then January, and thereafter for eternity. Americans will never go to sleep again.
There's Obamacare which puts the feds in charge of 1/6 of our economy, driving prices up, driving competition out, and driving quality down. A bill that Nancy Pelosi said we'd have to read to know what was in it. A bill that adds 17,000 new IRS agents to administer the monstrosity. A bill that most in Washington didn't read before voting to pass it.
There's the one trillion dollar "stimulus" bill that miserably failed to reduce unemployment, but instead increased it. A bill that contained billions of dollars in wasteful spending and thousands of pork projects. A bill that almost everyone in Washington didn't read before voting for it.
There's the supposed financial "reform" bill regulating every aspect of our financial life and imposing massive fees (can you say "taxes") on everything we do financially. A bill that its sponsor, Sen. Chris Dodd (D-CT), admits are "unknown" and stated that he didn't read it before voting for it. For Crying Out Loud, he sponsored it and he doesn't know what's in it?
And then there's creation of DEBT on a scale unknown in the history of the entire world.
No one can comprehend what the consequence of this massive debt will be on Americans and future generations. They have put us on a mad dash to economic ruin.
AND SO IT'S "NOW OR NEVER," AND THE HANDWRITING IS ON THE WALL.
They know how angry Americans are, and they realize their power will be gone in January when a new Congress will be seated.
But the Obama Fantasy Cruise has other things they'd like to bring on board before the ship sinks.
Cap and Trade, which is nothing more than a license to cheat and steal. This will include additional bans on any and all oil drilling in the U.S. It will cost families thousands of dollars a year in taxes and cost more than a million jobs.
Amnesty for illegal aliens disguised as "comprehensive immigration reform." This will keep taxpayers shelling out billions in social services costs, create millions of new "liberal" voters, and encourage millions more illegals to stream across our borders and wait for the next "amnesty."
Value Added Tax (VAT). This is a tax added to everything produced in this country at every stage of production. It is a huge tax for all Americans. It's another convoluted tax added to the already convoluted confiscatory tax system we currently have.
Card Check. Obama and the Liberals want this badly. It's a plan to take away secret ballots in elections where workers decide whether to unionize. Non-secret ballots create a climate of intimidation and coercion, forcing non-union workers to vote for unionization to avoid harassment.
And Obama and the Liberals know It's Now Or Never. They know they will lose their majorities with the November elections. But the newly elected representatives won't be seated until January.
BEWARE, November to January is considered the "Lame Duck Session." These sessions are typically for minor legislation that didn't get done in the regular session or for big legislation that has wide support from both parties and Americans.
But in this case it's a time for Obama and the Liberals to bring on board everything on their wish list because they know It's Now Or Never.
And there is nothing Americans can do to stop it except put pressure on current elected officials not to further destroy this country by pushing through a raft of far-reaching laws that will increase our debt, regulate, tax and more deeply annihilate our economy.
I ask you to contact your current representatives, both Senate and House, and tell them you want NO LARGE LEGISLATION SHOVED THROUGH IN THE LAME DUCK SESSION. My web site www.americasmrsright.com has links to the Senate and the House.
It's imperative that we stay involved and vocal leading up to November, and then January, and thereafter for eternity. Americans will never go to sleep again.
Wednesday, September 22, 2010
VELMA HART ASKS OBAMA THE TRILLION DOLLAR QUESTION
Obama supporter Velma Hart lets Obama know that his Summer of Recovery has not been good for her. Watch it here. Obama is speaking early in the video trying to justify his programs. Ms. Hart comes on later. Be sure to listen to Obama's response to her. And note the laugh and giggle from Obama. Does he think the state of the economy is a joke? Personally I think HE'S the JOKE.
Thursday, September 9, 2010
OBAMACARE TAB UP, NOT DOWN
So the news today is that health care costs will RISE under Obamacare, not go down as Obama continually told us. This information comes from our own GOVERNMENT, who has been studying Obamacare since its passage. This information shows that Obamacare didn't solve the cost problem in spite of Obama's promises.
The analysis found that health care spending will grow to nearly 20% of our economy. That is a HUGE amount of money and will surely affect the country's ability to spend money on other things, like education, research, transportation, or other programs.
Medical spending now accounts for about 17% of the economy, and most experts will tell that that even at 17%, it's too high. After all, wasn't that the purpose of Obamacare? To bring down the percent of money spent on health care?
But here is more sobering news.
By 2014 Medicaid will be opened up to millions more low-income people. Many doctors/clinics are already not accepting Medicaid patients because they lose money on every patient (due to federal mandated limits on coverage), and they can't afford to treat them, so that's one problem. The other is that for those who do get coverage, up goes our debt.
That same year insurers will have to accept all applicants, regardless of health problems. Who does Obama think is going to pay for that? Oh, the health coverage companies you say? The increased cost will just be passed on to the consumer, so up go our premiums.
Most Americans will be required to carry coverage or face a fine from the IRS. Yes, that's right, the Boogie Man IRS with their heavy handed tactics will be in control of assessing and collecting these fines. 17,000 more IRS agents are being hired. How much do you think 17,000 new federal employees will cost us? These costs were NOT included in the final cost estimates for Obamacare. Another scam on the American public. And up goes our debt again.
The report also shows that government is already becoming the dominant player in health care without fully enacting Obamacare. The biggest growth will come in Medicare and Medicaid (up 34% by 2014). Who is going to pay for this increase? Guess what, we are, and up goes our debt.
Do Obama backers get it yet? He lied again and again just to shove through his idea of what our health care should look like.
It's no wonder Obama wants to raise all taxes through not extending the Bush tax cuts. He has to pay for this travesty some way.
In the meantime, do you understand what Bankruptcy looks like? Get ready. We are already there.
The analysis found that health care spending will grow to nearly 20% of our economy. That is a HUGE amount of money and will surely affect the country's ability to spend money on other things, like education, research, transportation, or other programs.
Medical spending now accounts for about 17% of the economy, and most experts will tell that that even at 17%, it's too high. After all, wasn't that the purpose of Obamacare? To bring down the percent of money spent on health care?
But here is more sobering news.
By 2014 Medicaid will be opened up to millions more low-income people. Many doctors/clinics are already not accepting Medicaid patients because they lose money on every patient (due to federal mandated limits on coverage), and they can't afford to treat them, so that's one problem. The other is that for those who do get coverage, up goes our debt.
That same year insurers will have to accept all applicants, regardless of health problems. Who does Obama think is going to pay for that? Oh, the health coverage companies you say? The increased cost will just be passed on to the consumer, so up go our premiums.
Most Americans will be required to carry coverage or face a fine from the IRS. Yes, that's right, the Boogie Man IRS with their heavy handed tactics will be in control of assessing and collecting these fines. 17,000 more IRS agents are being hired. How much do you think 17,000 new federal employees will cost us? These costs were NOT included in the final cost estimates for Obamacare. Another scam on the American public. And up goes our debt again.
The report also shows that government is already becoming the dominant player in health care without fully enacting Obamacare. The biggest growth will come in Medicare and Medicaid (up 34% by 2014). Who is going to pay for this increase? Guess what, we are, and up goes our debt.
Do Obama backers get it yet? He lied again and again just to shove through his idea of what our health care should look like.
It's no wonder Obama wants to raise all taxes through not extending the Bush tax cuts. He has to pay for this travesty some way.
In the meantime, do you understand what Bankruptcy looks like? Get ready. We are already there.
Monday, September 6, 2010
DODD/FRANK PHONY FINANCE REFORM
2300 pages, that is the size of the Financial Reform Bill written by Barney Frank and Chris Dodd and their soldiers. So many words and so little clarity! Compare this bill to the Constitution of the United States (it created legal principles that have governed our nation for hundreds of years and have done a very adequate job) which originally contained only 4 pages. Four pages to run a nation and 2300 to run a bank? Give Me A Break!
So what does the bill do?
Well, first of all, the bill does not inspire confidence when Obama "thanks" two crooks directly responsible for the financial meltdown, Barny Frank and Chris Dodd. Oh, yes, they were responsible for drafting this monstrosity, and they were also directly responsible for orchestrating the collapse of our economy.
And guess what Barney Frank said after the bill was passed? "We won't know if it will work until we have another disaster." Boy, that sure elicites confidence, doesn't? The same people who got us into this mess don't know whether 2300 pages of regulation will work?
A number of years ago Dodd and Frank forced through legislation that required Fannie Mae and Freddie Mac (government backed lenders) to give loans to borrowers who didn't qualify for them. Fannie and Freddie did a great job of this, in collaboration with community organizing groups like Acorn and community activists like Obama, and together they made sure EVERYONE could get a home loan. What did they care if the borrower could pay it back? The loans were all guaranteed by the government, so Fannie and Freddie were protected. And we are now paying the price for their idiocy.
But there's good news - not only has the Frank/Dodd bill not fixed the problem or punished those involved (Fannie and Freddie), but Obama had Frank/Dodd include within this new bill provisions for 20 newly created government offices to make sure that banks give a certain amount of loans to minorities and women and under privileged borrowers.
Sure sounds like what has led to the current financial crisis created when Frank/Dodd and the Democrats in Washington required banks to give loans based on race, creed, gender, status, anything other than financial ability to pay it back.
The new Frank/Dodd bill proposes to regulate "risky" businesses but does not define "risky." Oh, gosh, I guess the definition of "risky" will be left up to the White House and regulators sitting in an Ivory Tower somewhere in the bowels of Washington.
The new bill proposes to regulate businesses "too big to fail" but does not define "too big to fail." Oops, another decision made by a political appointee, another opportunity for them to "pay off" contributors and supporters.
The new bill is loaded with provisions that cater to the unions and special interest groups. It creates new funding and employment opportunities for community action groups like fraudulent Acorn. Could this be a "pay off" for getting out the fraudulent, illegal votes that put the Obama Horror Show in power?
It establishes a Financial Stability Oversite Council that will have the power to punish ANY COMPANY it deems too big to fail - not just banks. Bail-outs will no longer have to go through Congress and be approved by our ELECTED representatives. The President and Secretary of the Treasury will now get to decide, and BOOM, your company is history - it's now under government control. And YOU cannot stop it!
American farms will be destroyed by certain parts of this bill. Check it out yourself. Google it. Farm costs will skyrocket. We will have to import much more of our food from countries who do not have the same bans on chemical use or the same strict processing standards that we have. We won't know what we are ingesting or what's in it.
Oh, I almost forgot. The two business that were directly responsible for the mess we are in, Fannie and Freddie, are not mentioned in the Financial Reg. bill at all. Yep, that's right, they are exempt from all provisions of the 2300 pages. Wow, another payoff because Fannie and Freddie contributed heavily to the Obama campaign.
So what doesn't Washington understand? Unions, taxes, excessive regulations all contribute to stifling the economy. Jobs disappear, housing dies, and here we go again. With an unemployment rate steady at 9.6% we cannot afford more job loss, but that's what we will get.
Congratulations, Congress, you just took another step closer to complete irrelevance for you. And congratulations, Obama, you rammed another bill through that will further destroy the greatest country on earth.
2012 should be the REPEAL IT NOW year, and I can hardly wait!!
So what does the bill do?
Well, first of all, the bill does not inspire confidence when Obama "thanks" two crooks directly responsible for the financial meltdown, Barny Frank and Chris Dodd. Oh, yes, they were responsible for drafting this monstrosity, and they were also directly responsible for orchestrating the collapse of our economy.
And guess what Barney Frank said after the bill was passed? "We won't know if it will work until we have another disaster." Boy, that sure elicites confidence, doesn't? The same people who got us into this mess don't know whether 2300 pages of regulation will work?
A number of years ago Dodd and Frank forced through legislation that required Fannie Mae and Freddie Mac (government backed lenders) to give loans to borrowers who didn't qualify for them. Fannie and Freddie did a great job of this, in collaboration with community organizing groups like Acorn and community activists like Obama, and together they made sure EVERYONE could get a home loan. What did they care if the borrower could pay it back? The loans were all guaranteed by the government, so Fannie and Freddie were protected. And we are now paying the price for their idiocy.
But there's good news - not only has the Frank/Dodd bill not fixed the problem or punished those involved (Fannie and Freddie), but Obama had Frank/Dodd include within this new bill provisions for 20 newly created government offices to make sure that banks give a certain amount of loans to minorities and women and under privileged borrowers.
Sure sounds like what has led to the current financial crisis created when Frank/Dodd and the Democrats in Washington required banks to give loans based on race, creed, gender, status, anything other than financial ability to pay it back.
The new Frank/Dodd bill proposes to regulate "risky" businesses but does not define "risky." Oh, gosh, I guess the definition of "risky" will be left up to the White House and regulators sitting in an Ivory Tower somewhere in the bowels of Washington.
The new bill proposes to regulate businesses "too big to fail" but does not define "too big to fail." Oops, another decision made by a political appointee, another opportunity for them to "pay off" contributors and supporters.
The new bill is loaded with provisions that cater to the unions and special interest groups. It creates new funding and employment opportunities for community action groups like fraudulent Acorn. Could this be a "pay off" for getting out the fraudulent, illegal votes that put the Obama Horror Show in power?
It establishes a Financial Stability Oversite Council that will have the power to punish ANY COMPANY it deems too big to fail - not just banks. Bail-outs will no longer have to go through Congress and be approved by our ELECTED representatives. The President and Secretary of the Treasury will now get to decide, and BOOM, your company is history - it's now under government control. And YOU cannot stop it!
American farms will be destroyed by certain parts of this bill. Check it out yourself. Google it. Farm costs will skyrocket. We will have to import much more of our food from countries who do not have the same bans on chemical use or the same strict processing standards that we have. We won't know what we are ingesting or what's in it.
Oh, I almost forgot. The two business that were directly responsible for the mess we are in, Fannie and Freddie, are not mentioned in the Financial Reg. bill at all. Yep, that's right, they are exempt from all provisions of the 2300 pages. Wow, another payoff because Fannie and Freddie contributed heavily to the Obama campaign.
So what doesn't Washington understand? Unions, taxes, excessive regulations all contribute to stifling the economy. Jobs disappear, housing dies, and here we go again. With an unemployment rate steady at 9.6% we cannot afford more job loss, but that's what we will get.
Congratulations, Congress, you just took another step closer to complete irrelevance for you. And congratulations, Obama, you rammed another bill through that will further destroy the greatest country on earth.
2012 should be the REPEAL IT NOW year, and I can hardly wait!!
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