Tag Archive: Stimulus Package
Nancy "Stretch" Pelosi
“We will hunt you down!” thundered Colorado Democrat Rep. Jared Polis during the AIG bonus demagogue-a-thon on the House floor Thursday. “If they’re not going to give [the bonuses] back, we’re going to take them back!” growled Alabama Dem. Artur Davis, who vowed to recover the taxpayers’ “ill-gotten gains” from rogue corporate executives. House Republicans pressed the Democrats on who knew what and when regarding the AIG bonus protections included in Connecticut Sen. Chris Dodd’s now-infamous amendment to the stimulus bill. Rep. Barney Frank shrieked about the Bush administration’s culpability. House Speaker Nancy Pelosi smugly patted Democrats on the back for “protecting the national interest.”
I ask you now to turn away from the bogus bonus smokescreen over $165 million in taxpayer-backed compensation packages for AIG employees. It is a pittance compared to the gargantuan spending spree happening right under our noses. The AIG bonus price tag amounts to one-tenth of one percent of the total AIG giveaway ($85 billion in September, $37.8 billion in October; $40 billion in November; $30 billion in early March, which took place with the assent of a Republican administration, a Democrat administration, and the congressional leadership of both parties.
Taxpayers might be less skeptical of the born-again guardians of fiscal responsibility if these evangelists were actually practicing what they preached. While the Obama administration now issues impassioned calls to stop rewarding failure, they moved Thursday to dump another $5 billion into the failing auto industry. That’s on top of the Thursday announcement by the Federal Reserve to print up $1 trillion to buy up Treasury bonds and mortgage securities sold by the government – that no one else wants to buy.
It's For My Own Goodness
Financial blogger Barry Ritholtz tallied up $8.5 trillion in bailout costs by December 2008 between the Federal Reserve, FDIC, Treasury, and Federal Housing Administration rescues (not including the $5.2 trillion in Fannie/Freddie portfolios that the US taxpayer is now also explicitly responsible for.) Then there’s the (at least) $50 billion proposed by Treasury Secretary Tim Geithner in February to bail out home owners and lenders who made bad home loan decisions, which would be just a small sliver of the $2.5 trillion he wants to spend on the next big banking bailout, which would draw on the second $350 billion of the TARP package over which an increasing number of Chicken Little lawmakers are having buyer’s remorse.
Phew. We’re not done yet. Also on Thursday: As AIG-bashing lawmakers inveighed against wasted taxpayer funds and lamented the lack of accountability and rush to judgment that led to passage of the porkulus bill that mysteriously protected the bonuses, the Senate quietly passed a $10 billion lands bill stuffed with earmarks and immunized from amendments. GOP Sen. Tom Coburn, fiscal conservative loner, pointed out that none of the provisions for special-interest pork projects – including $3.5 million in spending for a birthday bash celebrating the city of St. Augustine, Florida – were subject to public hearings. That’s on top of the pork-stuffed $410 billion spending bill passed two weeks ago.
Oh, and did I mention that the House passed a $6 billion volunteerism bill (the “GIVE Act”) on Wednesday to provide yet another pipeline to left-wing advocacy groups under the guise of encouraging national service? Also coming down the pike: The Obama administration’s “cap-and-trade” global warming plan, which Hill staffers learned this week could cost close to $2 trillion (nearly three times the White House’s initial estimate.) and the administration’s universal health care scheme, which health policy experts reported this week could cost about $1.5 trillion over the next decade.
"Smirky" The Clown
It is no wonder that when earlier this week Vice President Joe Biden told local officials in Washington this week that he was “serious, absolutely serious” about policing wasteful porkulus spending in Washington (price tag: $800 billion not including interest), he was met with the only rational response his audience could muster:
By John Stossel, ABC
H/T to Paul Revere
Here’s some patriots from the Meza, AZ tea party
Oh, there’s lots more, keeping reading!
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More from race baiting whiners! Will these racists ever shut the hell up?! We’re sick of it!
By –Michael Reagan
It is not true that grown men don’t cry. I’m grown and I’m on the verge of tears. The Republic I have loved all my life is being is being murdered, and the crime is an inside job.
Michael Reagan
If you hear a whirring sound in the background, it is my dad Ronald Reagan, who loved and served this nation, spinning in his grave as his latest successor plunges a carving knife into America’s vital organs.
In his wildest dreams, Ronald Reagan never thought that a president of a United States, now in the throes of a serious economic crisis, would adopt a solution to the problems of our economy that would not only worsen the situation but also set in motion the beginning of a transition of the government of the United States from a constitutional republic into a coercive quasi-Marxist regime where Washington is the master of our people instead of their servant.
Let it be said loud and clear: Barack Obama’s so-called stimulus bill, feverishly embraced by his sticky-fingered Democratic minions in the House and Senate (and three craven Republican senators), will not do a single thing to revive our ailing economy. Nothing.
Instead, it will put Washington’s grasping hands into every nook and cranny of America’s economic and social life, and bankrupt an already penurious nation for generations to come.
Think about it: nearly a trillion dollars to be squandered on a host of pork-laden projects, payoffs to pet leftist groups and causes grasping for their share of the booty, and a few bucks to create jobs, mostly in the public sector.
A trillion dollars we don’t have and will need to borrow from our grandchildren and their offspring. A trillion dollars created out of thin air that will drastically reduce the value of the dollars in our pockets in an orgy of runaway inflation.
It wasn’t all that long ago that spending a billion dollars on government projects and programs was viewed with alarm. As the late Sen. Everett Dirksen once said, “A billion here, and a billion there, and pretty soon you’re talking about real money.”
A trillion dollars is $1,000 billion, a sum that the imagination cannot comprehend.
If you could have spent a million dollars every day since Christ was born, you would not even come close to having spent a trillion dollars, yet Mr. Obama and his wastrel Democratic stooges on Capitol Hill have no qualms about spending that amount – and more – on programs that will do nothing to alleviate the current economic crisis, and in many ways worsen it.
Is it Dawn, or Sunset?
Have we forgotten what Thomas Jefferson warned us when in 1791? He said, “To preserve our independence, we must not let our rulers load us with perpetual debt. If we run into such debts, we (will then) be taxed in our meat and our drink, in our necessities and in our comforts, in our labor and in our amusements. If we can prevent the government from wasting the labor of the people under the pretense of caring for them, they (will) be happy.”
Jefferson would have refused to believe that a free people would allow their government to saddle them and their children and grandchildren with a debt so enormous they could not even begin to comprehend.
Nor would he have even dreamed of the government’s wasting money on projects noted by former Georgia Rep. Bob Barr, such as a billion dollars to subsidize money-losing Amtrak, $20 billion to expand the already-bloated food stamp program, about $2 billion diverted from the wallets of hard-working Americans to subsidize child care, and $2.8 billion to fund advocacy programs studying the global-warming hoax.
There’s another $600 million for newer cars for government bureaucrats, $44 million to refurbish the Department of Agriculture, $50 million for the National Endowment for the Arts, $150 million to spruce up the Smithsonian buildings, and more than $400 million to promote anti-smoking programs and programs to fight sexually transmitted diseases.
That’s what future generations of Americans will be paying for. I’m sure they’ll thank us.
Exhibit A: Excrement, Gilded
Dear Reader,
This is a must read article, and I don’t want you to miss it so please click:
Stimulus: Trillion$ from Heaven, or Viagra in Reverse
Please leave your comments on the new blog. Thank you for your patience while I transition to my new No Compromise blog
Kindest regards,
~No Compromise
Pork-Zilla Hunt
–TR
: Hey, I have an idea – How about members of Congress actually read and debate the bill in its entirety BEFORE VOTING on it for a Change. We can only Hope.
Write to your Rep. here and write your Senator here. I also suggest you fax them as a good many of these Congress Critters are round-filing the emails. For cheap faxing go here.
NC Sez: “Irresolvable conflicts” with Faux- Obama? Nooooo! Say it isn’t sooo! You’re a republican Gregg! I sure hope you have “irresolvable conflicts” with this inexperienced usurper!
Sen. Gregg Withdraws as Commerce Sec. Nominee
Republican Sen. Judd Gregg of New Hampshire abruptly withdrew his nomination as commerce secretary Thursday, citing “irresolvable conflicts” with President Barack Obama’s handling of the economic stimulus and 2010 census. “We are functioning from a different set of views on many critical items of policy,” Gregg said in a statement released by his Senate office.
Gregg, 61, is a former New Hampshire governor who previously served in the House. He has been in the Senate since 1993 and currently serves as the top Republican on the Senate Budget Committee, where he is known as a crusader against big spending.
He was Obama’s second choice to fill the Commerce portfolio.
New Mexico Gov. Bill Richardson withdrew several weeks ago in the wake of a grand jury investigation into alleged wrongdoing involving state contracts. He has not been implicated personally.
In his statement, Gregg thanked Obama for the nomination, and said, “I especially admire his willingness to reach across the aisle.”
In citing the stimulus and census, he said, “Prior to accepting this post, we had discussed these and other potential differences, but unfortunately we did not adequately focus on these concerns. We are functioning from a different set of views on many critical items of policy.”
The unexpected withdrawal marked the latest setback for Obama in his attempt to build a Cabinet.
Treasury Secretary Tim Geithner was confirmed despite revelations that he had not paid some of his taxes on time, and former Senate Majority Leader Tom Daschle withdrew as nominee as health and human services secretary in a tax controversy.
In his statement, Gregg said his withdrawal had nothing to do with the vetting into his past that Cabinet officials routinely undergo.
Gregg’s reference to the stimulus underscored the partisan divide over the centerpiece of Obama’s economic recovery plan. Conservatives in both houses have been relentless critics of the plan, arguing it is filled with wasteful spending and won’t create enough jobs. Gregg has refrained from voting on the bill — and on all other matters — while his nomination was pending.
The Commerce Department has jurisdiction over the Census Bureau, and the administration recently took steps to assert greater control. Republicans have harshly criticized the decision, saying it was an attempt to politicize the once-in-a-decade event.
The outcome of the census has deep political implications, since congressional districts are drawn based on population. Many federal funds are distributed on the basis of population, as well.
Both of those factors mean there is a premium on counting as many residents as possible. Historically, the groups believed to be most undercounted are inner-city minorities, who tend to vote Democratic.
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No Compromise When You're Right! 