The Rape of the American People

Mr. Gibbs today stated that "We need to go to the doctor before we go to the pharmacy" in regards to Tim Geithner's plan to buy all the toxic assets.

Too bad they didn't start with that philosophy. Perhaps we wouldn't now have the spendulus bill, the omnibus bill and the bloated budget proposal Obama has developed.

Now, in addition to all that, House Democrats are starting to talk about yet another 500 billion stimulus package. What?? When will it be enough?

I think the simple answer is that, as with any addict- it will never be enough. Washington isn't going to stop until the American people make them stop.

On the new tax front- it's now being contemplated to tax your medical benefits you get from your job. Analysts estimate each of us will be on the hook for an additional 7,000 to 9,000 bucks in income that Mr. Obama will get to tax.
Think about it. Each of us may soon have to declare our medical benefits as income.

Cap and Trade proposals will see each of us paying higher energy bills, some estimating the increase may be as high as an additional 40% increase in our electric bills. After all, when businesses get hit with tax increases, they very very quickly pass those costs along to consumers.

But remember, most of us is going to get to keep an additional 13 bucks in our check each week. Happy days are here again.

The Obama Two Faced Penny

Someone asked me the other day just why I have such antipathy for Mr. Obama.
I replied that I really admire the guy's talent and obvious intelligence, but,, I am absolutely horrified at the agenda he is setting. I'm 45 years old, and I don't think I've ever seen a President so determined to vilify capitalism and innovation. I insisted that the new American penny should be a bust of Obama on both sides.

My friend got angry and insisted that I wasn't describing Obama, so I told him a story a day later.

President Bush, during his term, threw lavish parties every Wednesday. He had $100 per pound beef served, had headliner bands play at the White House, all at the tax payer expense. He ran on a platform of a centrist, and as soon as he got elected, he ran a ultra conservative agenda and rammed it through Congress, breaking every campaign promise and didn't allow Congress to even read the Bill they were approving.

My friend blinked and said, "I thought you were a conservative. That's exactly what Bush did, and he never should have gotten a second term."

I just smiled. "I am a conservative, I just don't like dishonest people. By the way, the story is actually Obama's. Just change the name of Bush to Obama, and bam! The added insult is Mr. Obama is spending more money that any President in history. Too bad we don't have the money, and really really too bad the Chinese don't want to loan it to us."

You see, I expect politicians to deviate at least some from their campaign promises. I don't expect them to pull a 180 degree change after they get elected.

Obama railed against the deficit Bush had incurred. He didn't tell us he was going to spend more than double Bush's 8 year deficit in three months.

Obama swore up and down on the campaign trail he was all for developing coal and nuclear energy. But I guess he forgot about that in his budget.

Obama promised pork and earmarks were going to go away. Under his administration, pork barrel spending is at an all time high.

Obama ran on a reformer platform, and swore his administration would have the highest ethics ever. That it would not be business as usual in Washington. No lobbyist need apply.
How many of his cabinet don't pay their taxes?? Guess that was the shortest fit of honesty in history.


In three months, this President has managed to foment class warfare, create a climate of fear and mistrust, run confidence right into the ground and divide the American people.

What really chaps my hide is, that while the American economy burns to the ground, Obama throws lavish parties at the White House, and criticizes CEO's for doing the exact same thing-- on the tax payer dime.

4 Trillion Dollars

Mr. Obama's budget will ask for more than 3.5 trillion dollars for the fiscal year 2010 in spending, and an additional sum of 750 billion will be reserved for additional bank bailouts. No, that 750 isn't part of the 3.5 trillion-- it's in addition to it. It's interesting to note that this figure is 50 billion more than the original bailout approved by Bush. (Although, to be fair, Mr. Obama left the campaign trail to vociferously demand that it be passed while he was still in Congress.)

According to a "senior administration official", the budget will be between 3.5 and 4 trillion beginning October 1st.

634 billion will be set aside for the anticipated Universal Health Care Obama wants implemented. (What model exactly will be used isn't known. ) It's also anticipated that the cost could go up to 1 trillion for this program.

How is he going to pay for it?

Raising the tax rates on the salaries, dividends and capital gains of those making more than $200,000-$250,000, and phasing out their exemptions and deductions, can raise only a small fraction of the amount. Even if we have a strong economy, Mr. Obama's proposed tax hikes on the dwindling ranks of high earners would be unlikely to raise much more than $30 billion-$35 billion a year by 2012.

Besides, Mr. Obama does not claim he can finance his ambitious plans for tax credits, health insurance, etc. by taxing the rich. On the contrary, he has an even less likely revenue source in mind.

In his acceptance speech at the Democratic convention on Aug. 28, Mr. Obama said, "I've laid out how I'll pay for every dime -- by closing corporate loopholes and tax havens." That comment refers to $924.1 billion over 10 years from what the TPC wisely labels "unverifiable revenue raisers." To put that huge figure in perspective, the Congressional Budget Office optimistically expects a total of $3.7 trillion from corporate taxes over that period. In other words, Mr. Obama is counting on increasing corporate tax collections by more than 25% simply by closing "loopholes" and complaining about foreign "tax havens."

The administration has identified some preliminary savings it will ask Congress to approve.

Phase out of direct payments to farms (mainly corporate ones) with sales revenue of more than $500,000 per year. This two-year phase out of payments, which go to 25 percent of all farms receiving direct payments, is projected to save $9.8 billion over 10 years. It will also ask Congress to abolish payments for the storage of cotton, generating a projected 10-year savings of $570 million.

Eliminate the tiny Federal Mentoring Program, an initiative started in the second Bush presidency that costs $49 million a year. The administration says this program was added to more than 100 other youth-oriented programs at 13 different agencies. The 10-year savings is projected to be $500 million.

Eliminate a small tax cut known as the "Advance" Earned Income Tax Credit. Projected 10-year savings is $880 million.

Require investment managers (almost exclusively private equity and hedge fund managers) to pay their standard income tax rate -- instead of the current 15 percent rate -- on their income from annual fund profits. This is known as a "carried-interest" loophole because fund managers or investment managers typically pay income tax rates at their normal rate, but only 15 percent -- the current capital gains tax rate - on a portion of the fund's annual profits (upwards of 20 percent).

The administration will seek an additional $300 million to hire additional IRS agents to police and collect a portion of an estimated $350 billion in uncollected taxes. It will also seek "legislative and enforcement measures to reduce tax evasion and avoidance," including steps to "limit U.S. corporations' ability to deduct currently expenses allocatable to deferred foreign earnings." Translated, the administration will try to crack down on offshore tax shelters used by corporations and individuals to shield income earned in the U.S. from the IRS.

The president will seek significant savings from Pentagon procurement. No details or cost savings were specified but are expected Thursday when Defense Secretary Robert Gates briefs reporters on the overall defense budget.

So, let me see if I've got this right- Mr. Obama plans to increase spending on social programs to an unprecedented level, gut the military while we're at war, tax business and rich at a level that the average citizen would revolt over, and then spin the whole thing as good for the economy.

Mr. President-- have you taken a look at California lately? This is exactly what they did, and look at what it did. Small businesses went broke, big business left the state, citizens who were able to work are leaving the state in record numbers. California Democrats have literally created a welfare state. It's broke, and it doesn't work.

Obama Promised Line Item veto of Earmarks

Today, David Axelrod was quoted as saying that President Obama would not be scrutinizing the 410 billion appropriations bill because it was old business that should have been passed under Bush 'administration.

Mr. Obama? Ummm, it's coming to you for your signature. Not former President Bush. If it's coming to you for your signature, then it's your responsibility. Period. Dot. End of discussion.

To really understand the difference between what Mr. Obama says and does,, look back to Bill Clinton when he was questioned about Monica- I did not have sex with that woman. -- then later, he argued we really need to look at his definition of sex.

Semantics. Down here in Texas, we call it bullcrap. We also call it dishonest. Where is the transparency? Where are these "highest ethical standards"? What happened to reforming how Washington does business?

If I apply the common morals and ethics of most law abiding, tax paying citizens, then Mr. Obama is a lying, cheating, scheming stealing politician who said whatever he had to in order to get elected.

Granted, all politicians lie, but this one ran on a reformers platform. He ran on a ethics and transparency platform. I think he'll end up finding they weigh like and anchor on a drowning man.

787 billion+ 400 billion+ 250 billion+ 700 billion

We're not hearing a lot about the 400 billion dollar omnibus bill; the bill the Federal government needs to keep running for the rest of the year.

What I find interesting is this- the spendulus bill was 787 billion. The omnibus bill is another 400 billion. The interest will bring the tally for this month to 1.8 trillion to 2 trillion dollars. Does this president really think we have enough rich people in this country to pay this bar tab?

Someone figured out how to conceive of just how much money we're actually talking about. He said, if you spend a million dollars a day, from the day Christ was born to today- you still couldn't spend as much as Congress and Mr. Obama have.

So far, the Federal government has spent two trillion, one hundred and thirty-seven billion just on bail outs and pork and a minor amount in actual stimulus.

Now, how does our government borrow money to pay for deficit spending?

Well, Congress passes a bill for appropriations. It goes to the president for signing, and after that, it's sent to the Federal Reserve. They, in turn, issue bonds with a set interest rate. (That's the interest we tax payers end up paying for this boondoggle.)

Once bonds are issued, foreign banks and countries buy the bonds, usually China and Japan. China owns almost a trillion dollars worth of our debt.

Sounds great, right?

It would be if foreign banks and countries weren't trying to dump our debt right now. A Chinese government official, after hearing of our money presses running 24/7, and the incredible amount of spending, said "We hate you guys. You're devaluing your money and you're dragging us down with you."

Now,, that's a problem.

You see, if foreign banks and countries don't buy our bonds, then the Federal Reserve will have to buy them. (And,, hows that work.)

In other words, Obama probably can't finance all his plans. I've said it before, I'll say it again; Look for massive inflation within 16 months.

Obama Touts Passage of Bill as Advance in Health Care

If you'll remember, I mentioned that this health care reform initiative was a trojan horse for democrats to institute socialized medicine.

Now, think carefully- did President Obama put any spotlight on this provision prior to it's passage? No? Then why is the white House now crowing about the provision?

Didn't the House of Representatives institute a gag order on debate about the bill? Why would they do that?

Was the public given the promised 48 hours to review the bill? No? Why is that?

Were the people voting on the bill given opportunity to even read what they were voting on?

Let me ask a hypothetical; Would you allow a surgeon to operate on you without his knowing what is wrong with you, and how to correct it? Even better, would you allow that same surgeon to act this way with your child?

Then why are we allowing the politicians to act in the exact same way with our childrens future, and our own?

Remember I wrote about this when a Federal Council on Health Care denies you a procedure because it doesn't fit their model on comparative-effectiveness research.

This bill has undone all the progress on welfare reform-- prior to this bill, Clinton had signed a welfare reform bill that shifted the burden of welfare back on the states, thus, the states with incentives to go to work,, also had the lowest welfare. Now, all US working citizens will pay for those states who have the largest welfare rolls. ie, Texas will now pony up for California's pie in the sky wet dream liberal programs. (Just an example, but accurate.)

Want my advice on how to spend that extra 13 bucks week we'll be getting? Buy ammo. At least then you can hunt to provide for your family.

1071 Pages-- Voted On, But Why Bother To Read It?

Obama got his 1071 page, 787 billion dollar spendulus plan.

The good news for you,, if you have a job, is that you can possibly get up to 13 bucks more in your check each week.
The really good news is that those who don't pay taxes at all will be the first to benefit from this package.

Washington just sold your children and grandchildren into servitude to pay for welfare-- aren't you proud?

Oh yes, remember how Obama was going to cap CEO salaries? Not so now. That provision was removed from the bill. It turns out that those same CEO's who were demonized, also pay about one billion a year in taxes. The Dems don't want to lose that revenue.

Back in November 2007, Barack Obama promised the American people transparency in government. That he would ensure bills were posted at least 48 hours for the public to see.

He promised the strongest ethics of any president ever. He said no lobbyist would be allowed to work in his cabinet.

Well, the bill was printed at midnight, then voted on less than twelve ours later. No one got to read it. The House speaker denied having the bill read in debate. Debate was forced closed less than two hours in and the vote was forced,, despite the fact that no one knows what the hell is in this bill!

As far as Obama and ethics-- so far he's managed to break pretty much every promise, every rule, every prinicple he touted on the campaign trail.


So much for promises. So much for change.