Archive for the ‘generational theft’ Category

Liberated “Almost Commerce Sec” Gregg: Obama’s Harshest Budget, Debt Critic

March 24, 2009

Now that he’s not joining them, Judd Gregg has made no bones about criticizing the Obama administration.

The New Hampshire senator and formerly almost-commerce-secretary has become one of President Obama’s sharpest and most prominent congressional critics of late, saying this weekend on CNN that “this country will go bankrupt” under Obama’s budget and denouncing the administration’s consideration of rolling big energy and health care policies into the un-filibuster-able budget, telling the Washington Post that that’s the “Chicago approach to governing” (akin to “running over the minority, putting them in cement and throwing them in the Chicago River”).

Gregg cuts a unique path: He stands by Treasury Secretary Tim Geithner and told CNN’s John King that while he has problems with the budget and stimulus package, when it comes to the administration’s efforts to stabilize the financial system, “I think they’re taking the right course of action.”

In an interview yesterday, Gregg praised Obama on a personal level as a “pretty effective guy” and a “great personality” and gave preliminary kudos to Geithner’s new bailout plan (though he wanted to read the fine print), saying that public guarantees plus private dollars could equal the right formula to get toxic assets off of banks’ books.

Meanwhile, Gregg has also emerged as one of the sharper critics of the effort to impose a supertax on AIG bonuses, calling that “an abuse of the tax laws” (though he says that the bonuses themselves are “despicable” and that more should have been done to rein in American International Group earlier).

The tax-AIG-at-90-percent effort, Gregg said yesterday, “sets a horrific precedent for our nation. This is something Venezuela might do.” He adds: “As a practical matter, the opportunity to discipline this was flubbed by us. The Treasury Department had every opportunity to limit these bonuses,” including making the $30 billion in additional funds released this month contingent on curbing bonuses.

Read the rest:
http://www.concordmonitor.com/apps/
pbcs.dll/article?AID=/20090324/OPIN
ION/903240310

Sen. Judd Gregg, R-N.H. speaks during a news conference on Capitol ...

Gregg said President Obama proposes to amass more debt than all other U.S. presidents — combined.  Here Sen. Judd Gregg, R-N.H. speaks during a news conference on Capitol Hill in Washington, Monday, March 23, 2009.(AP Photo/Susan Walsh)

Obama’s Hope, Post-Partisan, Post-Racial Promises Were All BS

March 13, 2009

Many Americans swallowed a big load of BS last autumn and elected Barack Obama President of the United States.  The promise that things would be different in Washington this time — no earmarks, no partisanship, and a spirit of hope — have vaporized.  Or rather, they have been swept away by Team Obama’s arrogance with attacks on Rush Limbaugh and a stimulus, omnibus and future budget so eager to spend that I feel completly hopeless.

And taxes are rising and certain to rise more in the future.

My Children and grandchildren now alreay have a debt of staggering proportions to deal with — that’s their national inheritance.

They may find a socialist America where nobody has the incentive to work — work and pay will only mean more taxation and ugly admonishments: from the White House.

John McCain calls it generational theft: and that is exactly what it is…

Related:
Obama’s mythical mystique of government and science and their inherent moral benevolence

Obama’s Schools Will Have To Follow Federal Rules, Like Socialist, Communist Schools

****************

By Michael Gerson
The Washington Post

In Mark Strand’s pleasingly odd poem “The Tunnel,” the author is tormented by a persistent, moaning man in front of his house. The narrator vainly orders him to leave, makes obscene gestures through the window and destroys the living room furniture “to prove I own nothing of value.” Finally, the author takes refuge in his basement and digs a tunnel to escape — only to emerge moaning outside a house, where “I have been waiting for days.”

Against all my expectations, President Obama is having this effect on me.

Following Obama during the New Hampshire primary, I saw a candidate who — though I disagreed with him on many issues — defended idealism and rhetoric against the supremely cynical Clinton machine, who brought a religious sensibility to matters of social justice, who took care to understand and accommodate the arguments of others, who provided a temperamental contrast to culture-war politics.
After just weeks of governing, that image seems like a brittle, yellowed photograph, buried at the back of a drawer.

Obama’s proposed budget shows all the vision, restraint and grace of a grasping committee chairman, using the cover of a still-unresolved banking crisis to push through a broad liberal wish list before anyone notices its costs and complications. The pledge of “responsibility” has become the massive expansion of debt, the constant allocation of blame to others and the childish cultivation of controversy with conservative media figures to favorably polarize the electorate. The pledge of “honesty” and “sacrifice” has become the deceptive guarantee of apparently limitless public benefits at the expense of a very few. The pledge of “bipartisan” cooperation has become an attempt to shove Republicans until their backs reach some wall of outrage and humiliation.

None of this is new or exceptional — which is the point. It is exactly the way things have always been done.

Read the rest:
http://www.washingtonpost.com/wp-dyn
/content/article/2009/03/12/AR2009
031202761.html?hpid=opinionsbox1

Related:
http://michellemalkin.com/2009/03
/12/tea-party-update-revolution-is-brewing/

Obama Wasting America’s Strategic World Power; China Surges Despite Economy

March 12, 2009

While President Obama has spent $1 billion in borrowed money each hour in his first 50 days as president, and more spending is in the offing, what did America gain?

Well: Obanma may have bought himself a second term and there may be some feel good relief to people and businesses, which is real — but what did America gain?

In the time since Barack Obama took the oath of office, Russia and China have strengthened their common interests, which are rarely shared with American interests, Russia has denied America Manas air bas which is key to the War in Afghanistan, China has bought up oil and other commodities at bargain basement prices, China has sent a strong signal of intolerance toward the U.S. in an at sea incident, and North Korea, with China’s undoubted blessing, has rattled its saber….

China has used this period of economic decline to improve its future.  Almost any American will tell you our future is uncertain or certainly worse than before.

Yet the president insists there is a lot of spending yet to be done on education, health care, energy (wind), climate change and other projects.  Yet he saw no need to stop congressional pet projects (earmarks) in the omnibus spending bill he signed in solitude yesterday.

Lets just flush money and America’s future down the toilet…..

Massive debt-spending is called generational theft for a reason….

Related:
Pelosi’s Stimulus II? Lawmakers Propose No Cost, High Employment Energy Package

China Buying Oil, Uranium, Gold, Other Products At Bargain Prices

Russia, “Desperate For Cash,” Sells Oil to China In “Very Bad Deal”
Even Democrats Showing Signs Of Economic Despair, Worry at White House Inertia

Pelosi: Congress Needs to ‘Keep the Door Open’ to Second Stimulus Package

Obama Spending $1 Billion an Hour of Borrowed Money in First 50 Days

March 11, 2009

“In just 50 days, Congress has voted to spend about $1.2 trillion between the Stimulus and the Omnibus,” Senate Minority Leader Mitch McConnell (R-Ky.) said. “To put that in perspective, that’s about $24 billion a day, or about $1 billion an hour—most of it borrowed. There’s simply no question: government spending has spun out of control.”

And, sadly, the economy has not shown new signs of life…..

On Obama:

“No one wants him to fail,” McConnell, 67, said in an interview. “But saying ‘no’ to bad policy is not saying ‘no’ to everything.”

*****************

Senate Minority Leader Mitch McConnell (R-Ky.) has come up with a vivid new way to express his contention that the nation is spending way too much money it doesn’t have.

McConnell includes the tweaks in his opening remarks on the Senate floor on the 51st day that President Obama has been in office.

“In just 50 days, Congress has voted to spend about $1.2 trillion between the Stimulus and the Omnibus,” McConnell says. “To put that in perspective, that’s about $24 billion a day, or about $1 billion an hour—most of it borrowed. There’s simply no question: government spending has spun out of control.”

From Politico:
http://www.politico.com/new
s/stories/0309/19884.html

and
http://news.yahoo.com/s/bloom
berg/20090311/pl_bloomberg
/a9ygbyjyi4dq

And where has the Bank Bailout (TARP) money gone?
.
Ask Cleveland Democratic Rep. Dennis Kucinich.

Kucinich staffers questioned the propriety of an $8 billion Citigroup Inc. loan to Dubai, a $7 billion Bank of America investment in China Construction Bank Corp., and a $1 billion investment in India by J.P. Morgan. The three financial institutions got a total of $120 billion in tax dollars through the bailout program.

Although the transactions are not illegal,  Kucinich questioned the wisdom of directing money to foreign governments rather than the domestic economy.

“How does a multibillion financing deal to Dubai ease the liquidity crisis in the United States of America?” Kucinich asked at the subcommittee hearing. “What about other kinds of uses of funds: corporate spending on lavish parties, the continuation of contractual agreements to pay for naming rights on professional sports stadiums, corporate sporting event sponsorships?”

The memo also cited “significant shortcomings” in Treasury Department oversight over money dispersed through TARP, and claimed the department hasn’t questioned any TARP recipient about its use of the money.

Nancy Pelosi is already saying the nation will need another stimulus bill before we get out of this recession….

The $787 billion economic-stimulus plan was followed by today’s omnibus for $410 billion….

The interest payment on the debt from the stimulus and the omnibus will be about $500 billion…..

Elect me after I promised to end earmarks and “business as usual.”  Priceless?  Hardly.  Hypocracy.  Much of the price will be paid by your children and grandchildren.  John McCain calls that “generational theft.”  Not “priceless.”

Related:
President may Ask For “Global Bailout”
Obama, Geithner: recession requires global action 

Even Democrats Showing Signs Of Economic Despair, Worry at White House Inertia

http://michellemalkin.com/2009/03/1
1/earmark-zilla-futuregen-boondoggle-
grows-even-bigger/

http://giovanniworld.wordpress.com
/2009/03/11/howard-fineman-grows-up/

Hypocracy President Signs Omnibus, 9,000 Earmarks, Claims “Honest Budget”