Obama's "Tax Cuts"...

Obama has all of these promises, promises which I have stated I have no idea how he will pay for. Unfortunately, Obama is not telling you that in 2010 he will let the Bush Tax Cuts expire. My wife and I will be paying close to $4,000 more in taxes, and we make a whole lot less that $250,000. This coupled with higher Capital Gains taxes, more spending, and higher taxes on businesses and life might really become unaffordable here. Corporations pass higher taxes on to the consumers which mean higher prices on everything, including bare necessities. Ned Barnett wrote a great article on Obama's Tax Lies for American Thinker. Read it, it is a great breakdown of what Obama is not telling you.

Disturbing....

Audio has surfaced of Obama speaking of Redistribution of Wealth in 2001, and then there is the Biden interview. Both disturbing realities of what is to come if they get elected. Barney Frank has called for 25% cut to funding to the military. And the liberals want to take over your 401ks. If this is not disturbing to the people who refuse to look at the facts about Obama, then they will get what they deserve.
Biden, in the interview states that the middle class has shrunk. It has, the middle class has shrunk by 11%. In a totally "unrelated" bit of information, the upper class has grown by 11%, totally unrelated.
The truth is Americans has prospered and the liberals hate People who prosper and do not need their help to do so.

The Elite Obamas...

It has been reported that Michelle Obama called for room service at 4 PM while at the Waldorf-Astoria for the Al Smith Charity Dinner. What did she order? Lobster hors d'oeuvres, two whole steamed lobsters, Iranian caviar and champagne. The NY Post's Page Six received the tip. I guess they can really relate to the American People. With orders like that, who would have thought that the economy was doing so poorly.

Question: I wonder if they sat and ate the Iranian Caviar without preconditions.

Joe the Plumber...

He outed The Messiah on his socialist views, and now the media has decided to investigate gate him. It took a whole 24 hours for them to vet Joe, too bad they did not have the same enthusiasm to vet Obama over the last couple of years. It is really sad when the media decides to go after a plumber because he took the spotlight away from their Golden Boy, and put him out to be the Marxist we all knew he was.

Joe the Plumber has two tax liens which the media has now gone after. What is interesting is that both Michelle Malkin and Patterico have brought to light that Obama's Campaign Treasurer also has personal and corporate tax liens, yet that will not be reported. Wouldn't that be more relevant? All the guy did was ask a question and now he is getting hounded and the media is trying to destroy a normal American's life, all for asking The One a question, in which Obama answered truthfully, displaying his socialist views.

Obama "warned" on the suprime meltdown...

According to his campaign, Obama warned about the sub-prime meltdown two years ago in a letter that no one has ever seen. There was a vote on the floor of the Senate a couple years back, a bill that could have avoided this mess, but Obama voted as he has many times, present. How did that help the situation that he states he was aware of? The Democrats were opposed to this bill, and yet he could not muster everyone together for a vote on something he supposedly knew was in trouble. The Wall Street Journal has a great article about this here.

With Obama, the buck stops here (at $250K)....

If Obama becomes President, the American Dream becomes an audacious hope. Why? Because with Obama the American Dream stops at $249,999. Any income after that and you become a part of the rich, a part of the hated. What do they do to the hated, the rich? They tax them heavily, because your success is also your downfall. The rich (5%) already pay 95% of taxes, but Obama wants to give tax breaks to the other 95% even though 40% out of those 95% do not pay any taxes. I currently make less than 20% of that $250,000 threshold, but I am opposed to the idea of highly taxing those individuals. One day I hope to succeed to a point where I am making that amount or more, and my sweat and sacrifices will get me there. Why, after all of the sacrifices, should my wealth and success be redistributed? It should not. This country will suffer greatly with the redistribution of wealth. Robin Hood was a fairy tale for a reason. The reason this does not bother the Democrat Elite is because they do not make large sums of income, most of their money is inherited or was previously made. The Democrats needs the people to need them, otherwise their existence is pointless.

Obama has stumbled backwards again, and changed his mind on another position he is taking. Obama has now adopted Hillary Clinton's Economic Plan, yes, the one he called "disastrous." We will wait and see if the media decides to point out another one of his flip-flops. I highly doubt it.

John McCain tried to stop the Fannie/Freddie meltdown...

But Obama's name was nowhere to be found. The letter was just signed by a group of Republican Senators. Human Events has published a great article and has posted a copy of the letter here. Obama states he wrote a letter, I think he should publish it, that is if he DID write a letter, which I highly doubt. It is probably another lie, his campaign is based on them.

First say it was your idea, then say its his bad idea...

The Obama campaign sent out an email on Tuesday after the debate stating that “McCain today said he had a new plan to allow the Treasury to purchase and restructure mortgages. The truth is that this is not a new proposal and is already part of the rescue plan that was signed into law. It was Obama, not McCain who called for this move two weeks ago.”

So as we have seen from the Obama campaign in the past, he takes credit for everything. He was against the Iraq War, even though he was not a Senator, he wrote a letter warning about sub prime mortgages yet that letter has never been released.

Then, in a turn of events, when I guess no one believed that it was his idea they decided to change their strategy. Obama's economic advisor, Jason Furman, came out and stated the following: “Since this (sic) beginning of this crisis, Barack Obama has demanded that any rescue plan must protect taxpayers and ensure that they share in any profit once the economy recovers, and he worked to include that principle in the plan that passed Congress. John McCain’s plan to overpay for bad mortgages by handing taxpayer dollars over to big financial institutions is erratic policy making at its worst, and it’s not the change we need to strengthen our economy, create new jobs and keep Americans in their homes.”

What is funny is that this is a horrible plan, one that was already included in the $700 Billion bailout. The one they both voted for. The one true conservatives have spoken out against. It is not Obama's plan, it is Henry Paulson and Bush's plan. I find it so interesting that Obama can shift positions so quickly and frequently just to appease someone. It goes to show that he is not a candidate of change, he is a typical politician.

Our future....

I have been thinking (and losing sleep) over the future of this country. If Obama is elected, we will be electing a President with self admitted Marxist ideologies. Even scarier is that Congress can be in complete control of the Democrats with no one to balance the power. The Democrats currently hold 49 seats in the Senate, with Sen. Bernie Sanders and Sen. Lieberman caucusing with the Democrats, it gives them the majority of 51. The Republicans have 49 seats, and have 23 of them up for election this year, out of the total 35 whose terms are up. Five of the 23 Republicans are retiring. Democrats are leading in five of the races, and are virtually tied in seven others. If the Democrats were to hold 60 seats or more they will have completely control over the Senate, with the Republicans not having any filibuster power whatsoever. This means that the Democrats do not have to debate any of the bills or topics, they can all go straight to vote, and they hold the power to pass the bills the desire. Tie this in with a Democrat in the White House, one who is a known socialist, and we can have a catastrophe.

This has kept me up at night, it is something that is un-American, because the system is not meant for all of the power to be held by one party. If you couple this with Judge and Justice appointments, ones who legislate from the bench, and it could be the end of "Life, Liberty and the Pursuit of Happiness." The further this country strays from the Constitution, the worse off we are. The Constitution is a timeless document that is currently being turned into toilet paper by politicians. The Democrats are especially at fault, but Republicans are not free of blame. The bailout bill is just the beginning of the end, if this country takes the path in which it is headed, it will be worse that the Great Depression, and worse that the Jimmy Carter era. It is time to take our country back, and put the power back in the People's hands.

Chuckie Schumer...

Senator Chuck Schumer stated that the U.S. Chamber of Commerce has turned into an extension of the right wing. He attributed this to a pattern of contributions from the organization. While not necessarily true, I think this is a very bad time for Sen. Schumer to say this. For if we use Senator Schumer's logic Fannie Mae and Freddie Mac would then be extensions of the left wing, due to their obvious contributions to the Democrats, in large amounts. And due to that, the failure of Fannie Mae and Freddie Mac can be blamed on the party they are an extension of. The liberals are always yapping, and their brains, unfortunately work a little slower than their mouths.

Even in an Economic Crisis...

Even in an economic crisis, Fannie Mae has still not learned how to conduct business. It seems that all one must do to get out of paying for their mortgage is shoot themselves. Although, I feel bad for the lady, it does seem odd that since 1997 when she took out a loan against the house, she has refinanced several times. This teaches us two things: (1) If you are being foreclosed on non-lethally shoot yourself, and (2) Fannie Mae has yet to learn anything, even through the embarrassing crisis it is going through.

Note: If Obama is elected, your 2nd Amendment rights might go away, so it might be wise to purchase your gun before January 20th if there is a possibility of your home being foreclosed on.

Congratulations America!!!

The Federal Government is now the biggest landlord in the world! And the DOW dropped by 260 points as the news comes out. It is barely in the green now.

The Housing Bill Passed which was approved by the Senate

With two candidates, one for so called "Change," and the other a supposed Maverick, I expected to see at least one them come out against this bill, but they both voted for it. It would have been a great time for McCain to have stepped up and said "This bill does not do anything for the American People, and quite honestly might not even fix the economy." Nobody is sure, but the free market COULD HAVE corrected itself, and if the House passes the bill, then I guess we will never know. Companies that still have Capital are acquiring other companies and growing, so the economy as a whole has not stopped, and nor will it. McCain has spoken out against earmarks and pork barrel spending, and Obama loved those two things until he announced he was running for President. In a way, Obama lives up to his, well, ears, when it comes to earmarks.

I skimmed through the entire 451 Bailout plan, which from my understanding started off at 3 pages some time last week. This bill will pretty much make the U.S. the biggest landlord in the world. The bill itself mentions that the Federal Government will, hold, control or own the mortgages. If they own the mortgage, then they pretty much own the house until it is paid off, this is scary. Within the contents of the bill were, some items which I honestly am not quite sure how they would help the economy. I have listed these interesting bits below:

-The FDIC Insurance does go up, this helps out the people more psychologically than anything else, but only through 12/31/2009. I thought the whole reason for the increase was to account for inflation since the coverage has been $100K since the 1970's.

-There are tons of Energy Tax Credits, but really nothing about drilling or our energy Independence, so it is just a waste of time and pages.

-They extended the FUTA Surtax for two years, this is a surtax that costs employers roughly $14 per year, per employee. Aren't we trying to create jobs here? (Sec. 404)

-The "Oil Spill Liability Trust Fund Tax" was increased, don't we have a "energy crisis?" They raised the tax by 3 cents per barrel through 2016, and 4 cents after that. I mean it is only pennies, but doesn't every penny count? (Sec. 405)

-The extended an Economic Development Credit for American Samoa. I don't even know what to say. (Sec. 309)

-They extended the tax credit for mine rescue team training and the election to expense advanced mine safety equipment. I am all for safety, but why is this inserted into this bill? (Sec. 310 &311)

-There is a section on railroad track maintenance which is not too specific, but again I have no idea why this is in this bill. (Sec. 316)

Now it starts to get interesting:

-Seven year cost recovery period for motorsports racing track facility. Seriously? Someone decided they had to appeal to their Nascar fan constituents? (Sec. 317)

-(By far my favorite) Extension and Modification of Duty Suspension on Wool Products, and Wool Duty Refunds. This also helps the Wool Research Trust Fund. This one is priceless. I was not aware that wool products and their research had a trust fund. Everyone run and get your wool sweaters, now Duty Free! (Sec. 325)

-I wonder which party put this in the bill? (Please note the sarcasm) They have tax deductions for film and television productions. I did not know that liberal hollywood and the media was hurting. (Sec. 502)

-Another good one. There is an excise tax exemption, and this is how it is worded, "for certain wooden arrows designed for use by children." This applies to the shaft only, and they cannot be larger than 5/16 of inch in diameter. (Sec. 503)

-There is also a section regarding taxpayers who receive qualified settlements from the Exxon Valdez oil spill. It states that when they pay taxes, the income source "shall be treated as engaged in a fishing business." (Sec. 504)

-There are 57 pages on Natural Disaster Relief and funding for Special Projects on Federal Land, which honestly I did not read because, again it was 451 pages.

-The last item I noticed bothered me, it was 34 pages, these 34 pages were titled the "Paul Wellstone and Pete Domenici Mental Health Parity and Addiction Equity Act of 2008." I see the importance of a bill like this (Relating more to the mental health than to the addiction aspect of it). According to this insertion into the bailout plan, health care insurances must treat mental health and addictions equal to regular medical care. They cannot make payments higher and cannot offer stricter treatment limitations than to ordinary medical coverage. This does not belong in this bill, this is something that they knew would not be passed on it's own, therefore they shoved it into the bailout. So health care costs will now rise, because of addicts, that is how I see it.

We were in such "dire need" to pass this bill quickly otherwise we would go into a depression, this according to Congress and the President. Well they have taken a week longer than expected and nothing, we are still here. The bill passed the Senate, and the Dow is still down close to 300 points. Both Republicans and Democrats are wrong on passing this bill, and the pork shoved into it goes to show you, that maybe these are the wrong people to oversee and control the economy. These are the same people who got us into this mess. Chris Dodd and Barnie Frank are front and center on this bailout, yet they were the two leading the economy on this downward spiral. How can we expect THEM to fix this?

Update: I guess I missed one earlier, there is also a tax brake for people who ride their bicycles to work.

The Rescue Package (Bailout)

Other than the blogs that I have published with who is to blame, and the videos on who is to blame, I have not really put my opinion out on this rescue package. I have heard countless so called "experts" say that it is needed, some say that it is not, I have heard some economists come out and say that it is needed, but we still might go into a recession, and others saying that we will be fine without it. So where could one stand on this, when in reality nobody has a clue if it will work or not? I have taken a few days to really think about this, and how we got here, and that is how I arrived at my decision.

I do not know of any large scale government program that has succeeded. It seems that the larger Washington is, and the more power they have, the more things get screwed up. Just look at Fannie and Freddie, Social Security, Welfare, Medicare and Medicaid, all of them pretty much bankrupt. The IRS was set up as a temporary organization, well it is still here. Why is the IRS still here? Because when the People simply give government the authority to have broader powers, even if only temporarily, they will never relinquish it. Roosevelt's New Deal, was a huge waste of money, and although some attribute us getting out of the Depression Era because of it, it was really World War II that got us out.

The market lost $777 yesterday, the biggest single day dollar amount loss, but it was the 17Th overall percentage loss (more importantly). Today the market has rebounded, and private citizens and enterprises are acquiring stock and companies at a bargain. The free market kind of corrects itself, without the real need for government intervention. The Treasury has already put so much money into the market, and banking institutions, is an additional trillion really necessary?

One thing that bugs me, if this was this big crisis that needed to be passed immediately, then how was Congress able to take 2 days off? It is all a matter of politics. Proof of it lies in the fact, as previously mentioned, that Pelosi told Democrats up for reelection that they did not have to vote in favor of the bill. She knows that the People do not want this. It is all political and the reason why Congress has a 9% approval rating.

Bailout

The bailout as it stood was not acceptable. It was filled with items that taxpayers should not foot the bill for. The President is wrong on this, after all though, he has not been fiscally conservative. This is a typical Democrat bill, which they along with the Democrat Henry Paulson, who should resign, crafted. The democrats did not allow the Republicans any input on this bill, yet they expected the Republicans to vote for it. The American people did not agree with that bailout, and that is why the House voted the way it did. Barney Frank though, the same Barney Frank in this blog's video heard saying that Fannie and Freddie did not have any problems, is blaming the Republicans and Nancy Pelosi is praising him. Well let us look at how the House voted: The vote ended with 205 in favor, and 228 oppose to the bill, 140 Democrats and 65 Republicans voted for the bill, 95 Democrats and 133 Republicans voted against it. Why are they not blaming the Democrats? Their own party, they could have single handily passed this bill, but they did not. Nancy Pelosi told 16 Freshman Democrats that they could vote against it in order to not risk their reelection. You see with the Democrats, it is all about power, they could care less about you or I. The Democrats put us in this mess, and were unable to get THEIR bill passed, and they blame us for everything.

Fannie, Freddie, Rick Davis and Franklin Raines

The New York Times published an article stating that a company owned in part by Rick Davis, the Campaign Manager for the McCain Campaign received $15,000 a month since late 2005 from Freddie Mac. What is interesting is that Rick Davis has not received any compensation from his company, or profit sharing or any other sort of compensation from that company since he took a leave of absence in 2006. He never had any part in the lobbying work that was done for Freddie Mac, and furthermore he has not done ANY lobbying work since 2005.

What bothers me is that the New York Times published this article, yet I do not see any article about the two Obama Economic Advisers, Franklin Raines and Jim Johnson. Now that the FBI is investigating Freddie, Fannie, Lehman and AIG, it will come out that Fannie and Freddie cooked their books, as was already found in a previous investigation. This was done when when Franklin Raines was Chairman and CEO of Fannie Mae. Franklin Raines received over $90 million in compensation for the six year period that he held these positions. Raines quickly walked away from Fannie, knowing that Fannie was on its way down. Obama no disputes the fact that Raines is a financial adviser, despite the fact that Raines and Obama were both quoted in the past as it being true. Jim Johnson is not only an advisor to Obama, but also was part of his Vice Presidential selection committee. Jim Johnson was a managing director at Lehman Brothers (Bankrupt), CEO of Fannie Mae (now in government control), was a board member of Goldman Sachs (Almost bankrupt), and received illegal loans from Countrywide (Bought out, but for pennies on the dollar due to it almost being bankrupt).

These are the people that are advising Obama, and his supporters actually believe that he has better economic policies than McCain. The media will not report these stories, but it is up to the public to ask the questions. I might sound ignorant, but I believe the people of the U.S. are smart enough to realize what is going on.

Biden Gaffes, Again...

Aside from stating that the Obama (His) Campaign was wrong to put the ad attacking John McCain as old, and not being able to use a computer (McCain cannot use a computer because his arms cannot be lowered due to the torture he endured in Hanoi). Joe Biden made another gaffe.

While being interviewed by Katie Couric, Biden said "When the stock market crashed, Franklin Roosevelt got on the television and didn't just talk about the princes of greed," Biden told Couric. "He said, 'Look, here's what happened.'"

Well, unfortunately for Biden, Roosevelt was not President until 1933, four years after the stock market crashed, it was actually President Herbert Hoover. Another embarrassing gaffe was that the television was a very experimental appliance at the time of the stock market crash, and really was not widely available until the early 40's. In the 1930's, only New York City and Los Angeles.

The Economy

Last Thursday I posted a blog regarding the government bail out, and how this entire issue could have been averted had the Democrats who were protecting Fannie and Freddie, in part because they would receive so much money from them, voted for Bill S. 190 which John McCain cosponsored in 2006. Bloomberg has a great article which describes the entire mess we are in, and how the Democrats got us into it.
http://www.bloomberg.com/apps/news?pid=20601039&refer=columnist_hassett&sid=aSKSoiNbnQY0

Interesting enough, the article speaks about Franklin Raines, the ex-Fannie Chief who cooked the books, much like the Enron scandal. Unlike Ken Lay though, he does not go to jail, he gets to become Barack Obama's Head Economic Advisers. A storyline like this I could not make up.

Email Hackers, Big Government and Other Things Occurring This Week...

This week has been hectic and filled with news.

Over the last two days the stock markets, on a global level, have tanked, and the U.S. Government has unfortunately grown. As if the Government of this great country was not already too large for a free democratic society with Capitalist free markets, the government stepped in to bail out AIG. Many people are saying that it was necessary, but it is tax payer dollars going to that, and the government taking over private assets is not really a part of the Conservative mind set. A few weeks back the government took over the horribly run Fannie Mae and Freddie Mac, organizations that were run into the ground by liberals.

Franklin Raines and Jim Johnson both ran Fannie and Freddie, and guess where they are? They are Economic Advisers for The Messiah, Barry Obama. These gentlemen, I say that loosely, were compensated heavily, and a lot of it was not disclosed. Yet the Democrats have tried to blame all of this on President Bush. President Bush has not been involved, and it was the Clinton Administration, in 1994, that relaxed the standards so that any individual would qualify for a house. Obviously, the people who took out these loans are just as responsible.

John McCain actually tried to stop this mess from occurring in 2006 when he cosponsored Bill S. 190 saying the following: "Fannie Mae’s regulator reported that the company’s quarterly reports of profit growth over the past few years were “illusions deliberately and systematically created” by the company’s senior management, which resulted in a $10.6 billion accounting scandal.
The Office of Federal Housing Enterprise Oversight’s report goes on to say that Fannie Mae employees deliberately and intentionally manipulated financial reports to hit earnings targets in order to trigger bonuses for senior executives. In the case of Franklin Raines, Fannie Mae’s former chief executive officer, OFHEO’s report shows that over half of Mr. Raines’ compensation for the 6 years through 2003 was directly tied to meeting earnings targets. The report of financial misconduct at Fannie Mae echoes the deeply troubling $5 billion profit restatement at Freddie Mac.
The OFHEO report also states that Fannie Mae used its political power to lobby Congress in an effort to interfere with the regulator’s examination of the company’s accounting problems. This report comes some weeks after Freddie Mac paid a record $3.8 million fine in a settlement with the Federal Election Commission and restated lobbying disclosure reports from 2004 to 2005. These are entities that have demonstrated over and over again that they are deeply in need of reform.
For years I have been concerned about the regulatory structure that governs Fannie Mae and Freddie Mac–known as Government-sponsored entities or GSEs–and the sheer magnitude of these companies and the role they play in the housing market. OFHEO’s report this week does nothing to ease these concerns. In fact, the report does quite the contrary. OFHEO’s report solidifies my view that the GSEs need to be reformed without delay.
I join as a cosponsor of the Federal Housing Enterprise Regulatory Reform Act of 2005, S. 190, to underscore my support for quick passage of GSE regulatory reform legislation. If Congress does not act, American taxpayers will continue to be exposed to the enormous risk that Fannie Mae and Freddie Mac pose to the housing market, the overall financial system, and the economy as a whole.
I urge my colleagues to support swift action on this GSE reform legislature."

Furthermore, according to http://www.opensecrets.org/ (http://www.opensecrets.org/news/2008/09/update-fannie-mae-and-freddie.html ), a web site that lists donor information it seems the Democrats are very popular with Fannie Mae and Freddie Mac employees and Political Action Committees. Open Secrets conducted a search, and for the period of 1989 through 2008, Democrats had received the largest amount of donations from those employed by the now government run entities, but which ones you might ask? Chris Dodd received the most amount of money, he has been in office for the entire 20 year period. The next one might surprise you, but really only if you are ignorant, Barack "The Oracle" Obama received the second most amount. If that is not shocking enough despite his claims of being against lobbyist and all the other lies that spew from his mouth, he was only in the U.S. Senate for two years of the 20 year period that was examined. In third place was another Democratic Presidential Candidate (Former), John Kerry, and Hillary came in 12th, although she has only been in office for 7 of the 20 years. Now I know you are interested in knowing where McCain was on the list. John McCain, although he has served during the entire 20 year period, came in 62nd place.

On another note, Governor Sarah Palin's email was hacked, and the Secret Service is now investigating the incident. The Liberals do whatever they want to, and feel like they should be able to get away with it. On the other hand, us Conservative are scrutinized for everything we do. The shocker here is that the investigation has been derailed a bit by the AP, who refused to cooperate with the Secret Service. How would have thought that the media would not want to cooperate on this, let alone report it.





Dr. Ron Paul, who I support and agree with very much, has this sign on his desk. I think it is too priceless to not post: