Archive for the ‘housing’ Category

The Great Give Away of Taxpayer Money By Bigger and Bigger Government

March 26, 2009

An eager 20 year old student asked me yesterday, “Uncle, who really pays for all this spending?”

“Well, your children and grandchildren, Dear,  I thought you knew,” I said.

This needs time to think in and sink in — since she hasn’t yet started a family….

This is a developing essay that is not yet complete….

So we’ve been wondering about all this Obama spending: what it is and what it means.

The president basically spent $1 billion per day in his first 50 days.

I wonder why we need paid “volunteers” so badly that we now have to pay for them?
 Federal Government Paying “Volunteers” To Teach Liberal Values

“You cannot carry on for ever squeezing the productive bit of the economy in order to fund an unprecedented engorgement of the unproductive bit. You cannot spend your way out of recession or borrow your way out of debt.”  This rings true for Americans even though it wan an admonishment to Britain’s Prime Minister Gordon Brown.
Warning to American Politicians, Via MEP Daniel Hannan to Gordon Brow

I wonder if the crisis in Mexico will mean a huge migration of Mexicans into the states…I mean way huger than ALREADY…and what will that cost?
 Mexico: “under sustained assault”; Could “collapse” — U.S. Military

“Worst-case scenario, Mexico becomes the Western hemisphere’s equivalent of Somalia, with mass violence, mass chaos,” said Ted Galen Carpenter, vice president for defense and foreign policy at the Cato Institute, a Washington-based think tank. “That would clearly require a military response from the United States.”

I wonder why the Pentagon can no longer refer to the “war on terror” and is already trying to figure out how to cut many billions from its budget; while Russia and China rearm?
China boosts military, cyberwarfare capabilities
 Gates readies big cuts in weapons
 Russia Pressing “Reset,” Medvedev Orders Military To Re-Arm
I wonder why ACORN, which gets federal taxpayers money, is hiring protesters with that money to go to the homes of AIG executives?
Did ACORN Organize Protests At Homes of AIG Execs?
ACORN Protesters At Homes of AIG Execs Similar To Lawlessness For UK Bank Exec?

When we make it much more simple to unionize through programs like card check, how will that impact the economy?  Well, FedEx might scrap plans to buy new jets from Boeing and the stimulus might hire many fewer workers….
Stimulus: Way Fewer Jobs Than You Thought

Just Wednesday FedEx said it might back off on billions of dollars of aircraft sales planned to go to Boeing.  The reason?  Card check.  FedEx is worried that fast unionization of its work force will dramatically change its bottom line.

Who benefits from all this U.S. debt?  Who buys our debt and who gets our interest payment?  The answer in one word is China.  The U.S. bailed out Freddie and Fannie with Taxperer money and now China is even buying the houses we once owned…
Chinese find opportunity in U.S. real-estate slump

I wonder how we will pay for “unknown unknowns” like 9-11 and Katrina?  Well, we’ll print more money…..
 Obama, Economy: So Much Uncertainty Spins Off More…. Uncertainty

There are still issues as yet untackled by Obama like immigration.  How will we deal with the vast numbers of illegals ou there?
What do I tell my legal immigrant family and friends?
Obama Believers Thought They’d Hear More On Immigration By Now

Immigration embers could turn into political fire for Obama

La Raza has a new best friend at Justice

I wonder how much our government will grow, what the government will cost us all and what freedoms we’ll lose in this Obama shake up?

There is a mind-set here that Americans can have eveything they want and now and without consequences.

Didn’t that thinking spark this “economic downturn”?

Read Michelle Malkin:


Obama Talks About “Making Hard choices,” But Budget Is “Have It All Now”


My Hope Doesn’t Allow Me To Swallow Obama The Way the Media Has…

March 16, 2009

There is just too much on the plate here to swallow.

As Andrew Malcolm wrote in the L.A. Times today:

Listen for more such positive tweaks in coming days. It’s bad. But we’re strong. If we can go to the moon, we can automate all medical records and cover everyone with health insurance and reform the country’s education system and stop foreclosures and expand the war in Afghanistan and create a federal deficit with more zeroes than most civilian calculators contain and then cut the deficit in half by giving 95% of Americans tax cuts and sticking it to a few rich people. And the only thing we have to fear is fear itself.

That and, perhaps, China calling in all its loans at once.

Oh, and cure cancer, solve global warming (if it is the disaster Al Gore claims) and rid ourselves of oil, gas and coal.

Frankly, my dear, I do give a damn.

And I give a damn about working on jobs, banks and the economy first: without fixing the “cisis” we cannot afford to fix the rest of the country and the world…..

And the swallow Obama media can’t be too smart: many of the newspapers that got behind Obama early and without criticism are now going out of business.  Even consevative talk radio guys that haven’t had the impact of the “Obama boost” inthe form of Rahm Emanuael’s orchestrated attacks, like Rush Limbaugh, are failing.

So here is the recipe for future success:

Mitch McConnell and other Republicans need to fight the Obama plan, slow down all non essential legislation, and get people to listen.

Then need to set down principles the way Newt did in the “Contract with America” and they need to stick to them the way Ron Silver did even when Hollywood wouldn’t hire him.

It’s the economy, stupid.

Principles, sticking to principles and getting the word out will work.  It worked before.

Obama: Playing not to lose

March 12, 2009

President Obama is not playing to win.  He’s playing not to lose.  After 50 days in office he is trying to run out the clock: with 1,410 days to go.

He’s playing not to lose the next election.

A president playing to win would have started on the economy on day one: and would never have delivered the inauguration address Barack Obama did.  A president playing to win would have declared war on the economy by now, fired Tim Geithner by now, and delivered a plan based-upon a well thought out national mission we could all hold on to.  The way the nation is going is more like Alice in Wonderland than the economic “catastrophe” we face in reality.

And the thought that we can still start spending on a host of new initiatives including universal health care, education, energy and climate change reminds me of the Yellow Brick Road.

Barack is behind the curtain: where he signed the shameful omnibus pork bill yesterday instead of declaring a veto as part of his “new boss in town” approach.  Instead our approach is: we can have it all.

Well: first get some jobs and houses back, Barack.  And you’ll need to fix the banks to do that.

Stop playing not to lose.  Playing not to lose is great for lawyers, professors and community organizers.  But we are no longer in a law firm, a class room or in Reverend Wright’s church.

ACORN and “God Damn America” won’t work here: and if you think it will good luck.  But remember: you’re gambling with my money, my childrens’ money, my grandchildrens’ money and China’s money.

The casino Barack Obama is spending our money in is the world and China, which holds much of the U.S. debt, and China could break his legs…..

President Obama says we need a total rebuilding of American health care, education and energy: but we’ll just push reset with the rest of the world….It just seems like a sophomoric and socialistic thought process that can’t work.  The Soviet Union spent itself to death trying to keep up with U.S. military advances.  Now China and Russia will just watch as America spends itself to death with $1 billion dollars an hour of borrowed (much from China) money….

We cannot fix everything until we fix one thing: the economy.

John E. Carey
Wakefield Chapel, Virginia

 Buffett: Obama not at war; has toxic message machine on economy

53% Say It’s Likely the U.S. Will Enter a Depression

Obama Reelection Effort Begins

Hey Obama: You had me at “hello.”

From January 21, 2009:

My expectations for Barack Obama starting on this Inauguration Day could not be higher.

He’s a gifted public orator with a huge election win under his belt and “political capital” like few ever before him.  As the throng on the mall this morning shows, people from all over America love this man and expect greatness from him.

He has to deliver.

He has to change the nation’s course and perhaps that of the world.

I want to hear his real vision.  Not rhetoric.  I want to hear a master plan from a Harvard educated black man that has risen as high as any American can go.

I want to hear “We Americans are no longer the land of pork barrel spending, party divisions, racial strife and discord.  We will meet any challenge, climb any mountain….”

Above from our inauguration day hopes…
Obama: Nation’s Hopes Never Higher, Times Seldom Tougher, Give Us Your Highest Vision


We can have it all got us into this economic mess, which Barack Obama chased after to solve.  The presidency was not “inherited.” And with this economy it seems we can not have it all….

Obama’s three-pronged economic strategy: delay, delay and delay

March 12, 2009

We are in a world-wide economic disaster.  We are bleeding out, as doctors say.  And so far the United States has a tourniquet but there is no heartbeat.

The number of households threatened with losing their homes rose 30 percent in February from last year’s levels, RealtyTrac reported Thursday.

After the stimulus and omnibus what do we have: lots of pork and debt but still a very uncertain picture on what all economist say we need: jobs and a fix for the banking and housing sectors.

Economists’ main complaint centers on the administration’s plan for the banking sector. “The most important issue in the short run is the financial rescue,” said Stephen Stanley of RBS Greenwich Capital. “They overpromised and underdelivered. Secretary Geithner scheduled a big speech and came out with just a vague blueprint. The uncertainty is hanging over everyone’s head.”

In stark contrast with Obama’s popularity with the public, a majority of the 49 economists polled by the Wall Street Journal are dissatisfied with the administration’s economic policies.

Reaf a report from The Wall Street Journal:


The number of households threatened with losing their homes rose 30 percent in February from last year’s levels, RealtyTrac reported Thursday.


Here’s David Ignatius of the Washington Post:

For all the legislative commotion surrounding the economic crisis, we are still living in the equivalent of “the phony war” of 1939 and 1940. War has been declared on the Great Recession, but it’s basically politics as usual. The bickering and mismanagement that helped create the crisis are continuing, even though we elected a president who promised a new start.

History tells us that phony war doesn’t last forever and that when it ends, all hell breaks loose. World War II officially began with Germany’s September 1939 attack on Poland, but for months it was just skirmishing on the sidelines. That hiatus ended on May 10, 1940, when Hitler invaded Belgium and its neighbors. Neville Chamberlain was out as British prime minister, and Winston Churchill arrived as the avenging angel.

We’re still in the Neville Chamberlain phase when it comes to the economic crisis. The government is talking about sacrifice and solutions, but it hasn’t yet made the tough decisions that will put the economy back together. Economist David Smick had it right in The Post this week when he said the administration had a three-pronged strategy: delay, delay and delay. The administration announces a rescue package but doesn’t deliver details; it promises budget discipline but saves the hard decisions for later.

One reason this season feels so political is that Obama has stacked his administration with politicians and former government officials. You might think that with the greatest financial crisis of his lifetime, the president would want a few business leaders with experience managing large organizations in crisis. But no.

Here’s the un-businesslike Obama Cabinet: At Treasury, a former government official; at State, a former senator; at Commerce, a former governor; at Defense, a former government official and university president; at Energy, a former professor; at Homeland Security, a former governor; at Health and Human Services, a former governor; at the White House as chief of staff, a former congressman; at the White House as economic czar, a former university president and government official.

All fine people, no doubt. But as thin on business experience as a Hyde Park book club. Maybe Obama sees business executives as too tainted by the financial crisis to be useful, or confirmable. The closest he comes is Paul Volcker’s Economic Recovery Advisory Board — which includes Jeffrey Immelt, chief executive of GE; Jim Owens, chief executive of Caterpillar; and venture capitalist John Doerr.

The culture of immobilism starts on Capitol Hill. These people are still working a four-day week, taking Fridays off so they can run home and tell constituents how diligent they are. They may talk about a crisis, but they don’t act like it’s real.

Republicans and Democrats are sticking to party-line votes on many key issues. The Democrats were egregious in packing the stimulus bill with pet projects that won’t stimulate much except campaign contributions and in sticking with earmarks — a symbolic outrage that Obama promised during the campaign he would eliminate. But the Republicans have been even worse in their strategy of opposing recovery plans, which has given a legislative face to Rush Limbaugh’s “I hope he fails.”

The legislative pettifoggery was captured by a New York Times headline this week: “Obama’s Budget Faces Challenge by Party Barons; Panel Chairmen Oppose a Tax Plan but Want to Reduce Debt.” This nonsense has to stop, folks. The party’s over.

Read the rest:


You don’t get something for nothing….

Obama says we need a total rebuilding of American health care, education and energy: but we’ll just push reset with the rest of the world….It just seems like a sophomoric and socialistic thought process that can’t work.  The Soviet Union spent itself to death trying to keep up with U.S. military advances.  Now China and Russia will just watch as America spends itself to death with $1 billion dollars an hour of borrowed (much from China) money….

And despite spending $1 billion an hour in Obama’s first 50 days, the economy hasn’t rebounded and will need (likely) much more money and much more work….

Schools Have To Face Facts: Your Tax Base is Deteriorated So Your Have To Cut Costs

March 11, 2009

City and county officials all over the United States are coming to grips with the grim reality that school funding has to be cut.  The housing crisis and foreclosures have lowered home values everywhere and the local community revenue from taxes is lower than once expected.

The rampant spending at the national level by the Congress and the Obama Administration along with hoped for stimulus and other federal money just won’t make school budgets what they once were: so now it it time for the tough decisions about what to cut without hurting the education of our youth.

But everyone should take heart in knowing that more money spent has not always (I want to say never) translated into better learning — by most fair measures.

Some of our most expensive dollar per stundet classrooms, in the District of Columbia, as just one example, remain some of our worst at really giving children basic needed skills like reading excellence.

So when community organizations like ACORN and teachers unions demand school funding at previous levels once considered “normal” they are encouraging a denial of the very basic facts of life we should learn to get used to….


Obama on Education: What’s Good For You Is Wrong for Sasha, Malia

From the Wall Street Journal:
Local Economies Seek Revival


By Andrea Billups
Washington Times
Marching bands are silenced. Sports programs, summer school and driver’s education are being slashed. Schools are facing closure and consolidation.

Teachers, many now vacuuming their own classrooms, have been told to do away with space heaters and office refrigerators because they consume expensive electricity. Even the school year is being shortened as districts across the nation are making hard choices amid a worsening recession as they deal with budget woes.

“If school districts think it’s bad now, it’s likely to get worse in the next couple of years,” said Michael Petrilli, vice president of programs and policy at the Thomas B. Fordham Foundation in Washington, who paints a grim portrait of the economy’s influence on education. He noted that as local revenues from property taxes continue to plummet, many districts likely will lose even more funding as foreclosures mount with increasing job losses.

Even as some hope that the economic stimulus will bring some relief, he said, children are the ones who ultimately lose as education bears a big hit from the downturn.

Read the rest:

Presidency of Fear

March 5, 2009

Barack Obama ran for president as the candidate of  “hope” but he is choosing to govern as the president of fear.

The economy is, in his words, a “catastrophe.”  This necessitated a railroading of the American people and the Congress commonly called the “stimulus,” the largest spending and debt bill in the 200 plus year history of the United States — passed without Congressional hearings and in record time.

Many memebers of the House and the Senate admit they never read the stimulus bill.

The “omnibus” spending bill is a joke — a large heaping pile of pork stacked atop the stimulus that hasn’t yet had time to do anything.

And we continue to piour dollars we don’t have into AIG and other entities: even as we know there is a mortagage bailout and bank bailout need apparently just off center stage.

I fear we have lost control of spending and debt and like a wounded man bleeding alone we have no recourse.

Where’s the hope gone?

Now we are told the tragedies of American life that only President Obama’s spending and debt ideas can solve include the environment, global warming and energy; health care; and home ownership.

Just this morning we were informed by MSNBC (The Mostly Such Nonsense as Barack Channel) and ABC (The American Barack Channel) that our president will tell a “health care summi” today that:

“The cost of health care now causes a bankruptcy in America every thirty seconds,” and “By the end of the year, it could cause 1.5 million Americans to lose their homes.”

Even NPR’s liberal commentator Juan Williams said last evening on Fox News Channel: “This is now the presidentcy of crisis, crisis, crisis and the sky is falling.”

Frankly, President Obama, who as already doubled American debt in just a few feeks and has single-handedly garnered condemnation from investors as seen in the stock market, is now proposing a multi-billion dollar debt-financed spending effort that will leasd to the rationing of health care, if the Canadain system is any model.  In Canada, women diagnosed with breast cancer are told to come back for their first radiation treatment in four months: in American the doctor recommended waiting period is not to exceed four weeks.

We are spending trillions in debt based upon fear: fear that we will have unemployed, fear that people will lose their houses, fear that the world will melt from warming, fear from desiease and inadequate health care and the list goes on.  The trillions we have alread put into the economic system have not gained us anything but more fear and a tanking stock market.

And now we have the Rush Limbaugh fear that the Republicans have no idea what they are doing so we Democrats must be right — after all we Democrats are the only game in town.

My fear, and the fear of many other conservatives, is that the president and his team are changing the course and the fabric of our nation inexorably toward socialism — and we have seen how that works in France and elsewhere and care nothing for the prospects.

I fear that taxes are going up because taxes ARE going up.  I fear that “cap and trade” is a shell game that willl slow economic investment and growth and only make middle men rich.  Wasn’t “cap and trade” at the core of Enron?

I have fear that we will never get back to the properity of America in the Clinton years because taxes and debt and government controls and regulations will stifle investment and growth.

I fear that President Obama may actually win his war on the wealthy — and Obama and the over-taxed and frightened wealthy will create far fewer opportunities and jobs in the future than America did in the past without all of Obama’s “help”…..

I was at first afraid because Barack Obama told me to be afraid.  Now I fear that Barack Obama and the likes of Timothy Geithner don’t know what they are doing. 

And I fear even more that they know exactly what they are doing.

Related from ABC News:


Reuters reported:
“If we want to create jobs and rebuild our economy, then we must address the crushing cost of healthcare this year, in this administration,” Obama said in remarks prepared for the opening of the health care summit event.

“Making investments in reform now, investments that will dramatically lower costs, won’t add to our budget deficits in the long-term — rather, it is one of the best ways to reduce them,” he said.


–You know: I just don’t believe that “reforming” health care will not add to the debt but it will increase prosperity….because it hasn’t done so in France, Britain, Canada and elsewhere .. …and president Obama’s record of speaking the truth is already down the toilet…


Barney Frank: Happy ending possible despite economic mess

February 14, 2009

House Financial Services Committee Chairman Barney Frank says he sees a “happy ending” to the nation’s economic woes within several years, has “a lot of confidence” in the Obama administration economic team, and argues that most of the money being spent to revive US banks “is going to be repaid.”

By Dave Cook
Christian Science Monitor

Both real and psychological problems

“We are in a terrible mess,” Rep. Frank, a key Congressional voice on economic policy, said Friday at a Monitor-sponsored breakfast for reporters. But, he argued, “it will have a happy ending in the sense that this is a very productive country.” Frank said one reason for his optimism is, “because I think our problems are at this point both real and psychological and I am hoping the psychology will begin to abate.”

Government policy will change as a result of the nation going through tough economic times, Frank said. There will be “a renewed appreciation for the importance of the government setting rules,” he said. “You will get a new, systemic-risk regulatory regime.”

Stock market as nervous hysteric

When Treasury Secretary Timothy Geithner rolled out the Obama administration’s Financial Stability Plan to attack the credit crisis on Tuesday, the stock market sold off sharply. “Over any considerable period, the market is a pretty good allocator of resources,” Frank said. “On any given day, it is a nervous hysteric not to be paid attention to.”

Confidence in the Obama team

Despite the market’s reaction, “I have a lot of confidence in Geithner and [Lawrence] Summers,” who heads Obama’s National Economic Council, Frank said. He agrees with critics who said Geithner’s speech on the Financial Stability Plan was light on specifics. But when Geithner releases more details next week, “I think the details on the [home mortgage] foreclosure part are going to be good,” Frank said. And on the issue of troubled bank assets, “there is no right answer to that and I think he will do something good,” Frank said.

Read the rest:

Gregg: ‘I’m Too Conservative’ for Obama

February 13, 2009

Republican Sen. Judd Gregg said Friday that he pulled out of the job of commerce secretary after realizing that “I’m just going to be a little too conservative” for President Obama’s administration.

Associated Press

If you’re going to be on a football team, “you’ve got to pull out and block on every play, you can’t do it on every other play,” the senator said.

“I didn’t feel comfortable going forward because of my individuality, for lack of a better term,” Gregg said during an appearance Friday morning on CNBC.

Gregg said he thinks Obama is on the right track in attempts to stabilize the shaky financial system and that the proposal of Treasury Secretary Tim Geithner — much criticized as being too vague — is going to be an extremely strong initiative once it is filled out with details.

At the same time, Gregg said his conservative inclinations would show up in terms of fiscal spending.

Regarding the $790 billion economic stimulus plan, “I think there was a tactical error made … in that you allowed the appropriators to write the package,” said Gregg.

He said he thinks the stimulus plan “should be focusing mainly on trying to stabilize the real estate markets, and promoting small business and getting jobs.”

Read the rest:

Stimulus: Republicans Have Plan To Help All Current, Future Home Owners

February 3, 2009

The current stimulus plan passed by the House and sent to the Senate leaves “housing pretty much unaddressed,” says Senator Lindsay Graham (R-SC).

“Housing was one of the causes of this mess and the stimulus needs to work that out,” said Republican Graham.

Graham favors a “Housing Trifecta:”

1. Money for the FDIC to hold off future foreclosures.

2.  A $15,000 tax credit for any new home buyers to lessen the glut of unsold houses.

3.  A national offer to renegotiate mortgages at 4%  interest rate, guaranteed.

Graham said this ould provide “an enormous boost to our economy in the short and long term.”

Will Stimulus be Big Enough, Soon Enough? Economic Data Today Expected to Show More Weakness

December 24, 2008

Several reports due Wednesday are expected to provide more evidence that consumers are cutting back on spending and companies are eliminating jobs in the face of a deepening recession.

The new figures will come a day after the government said the gross domestic product, the broadest measure of the economy, shrank at a 0.5 percent annual rate in the third quarter. Many economists expect the GDP to shrink by much more in the current quarter.

Wall Street economists forecast that a report on consumer spending in November, to be released by the Commerce Department on Wednesday, will show a drop of 0.7 percent. That would be the fifth straight month of decline.


Meanwhile, the Labor Department’s tally of initial applications for unemployment benefits last week is expected to rise slightly to a seasonally adjusted 560,000 from 554,000 in the previous week.

And the Commerce Department is expected to report that durable goods orders fell by 3 percent in November, after a 6.2 percent drop in October. October’s decline was the largest fall in two years.

Two reports on home sales Tuesday also sketched a bleak picture. Demand for both new and existing homes fell more sharply in November than expected.

Read the rest: