Showing posts with label congress. Show all posts
Showing posts with label congress. Show all posts

Friday, March 19, 2010

Yet Another Clueless Congress

It's always something with these clowns we elect to represent us in government. They hold their power due to a mandate of the people. This mandate is not unconditional. It is also not limited merely by the election process. They govern by our consent and by the spirit of that consent, they should be shaping things according to our consent. Not by the consent they grant themselves, or by a mandate from those senior to them, or by the President of The United States, who also is granted power only to see to it that he manage the country according to our will, not his alone.

They govern by our consent alone. However, members of congress have managed through the last couple centuries to further corrupt the system they operate in order to benefit themselves first, and the people second.

Many of our current representatives, including the President, were not elected solely on their platforms but by mere shifting of the political winds when voters felt disenfranchised by the opposing party who previously held control. Many voters are not total platform voters, but often make their decision on who to vote for based on one or two issues, by party affiliation alone, or merely because the candidate of their choice is simply "not the guy we have now".

However, to hear our elected leaders speak, the people voted them in to enact every single aspect of the leaders' platforms and thought processes. I hate to be the bearer of news from the universe of Mr Obvious, but it isn't true no matter how many times they repeat it. The approval rating of Congress is not the fault of one party or the other, but in its entirety. It isn't just about what legislation they are trying to shove down our throats, or just who's constantly filibustering the ideas of the other side. Although these are very valid ideas of why congressional approval has remained in the tank for quite some time. It seems the problem that these people just don't understand is this: IT ISN'T ABOUT YOUR SIDE OR MINE, IT'S ABOUT AMERICA AS A WHOLE!

Those who make the decision to vote for or support only the ideas from a singular party affiliation are point blank, MORONS.

Its funny how we see ideas bantied about in the halls of congress. Ten years ago the republicans came up with an idea, and democrats blustered about how horrible it was. Now, the same idea comes out of the mouth of a democrat, and republicans bluster about the disgustingness that it represents. Or vice verse. And all too often, when the latter party trying the idea defends themselves they use such a ludicrous defense of "well, the so-n-so party tried it first!"

I mean c'mon. Haven't we all grown up with the lesson of of jumping off the bridge or cliff because our friends did it? If you have to defend your idea, why not try to use the skills you learned in the halls of academia that you bragged about so much. Please don't use such a juvenile mindset of "they did it first."

Yesterday it was about war and terrorism, this week its about health care, and it will be something else again down the road after that.

But today I address just a few of the finer points of health care reform, since that's the big topic, and supposedly coming up for a final vote this weekend. (Conveniently scheduled for when everyone will be at home watching the NCAA basketball tournament and worrying about how they do in their office pools)

One one side you have the Democrats pushing hard to pass a monstrous health care bill through, read or not read, debated or not debated, passed or not passed through both houses on an identical passage. And the big argument: We have to do SOMETHING to reform our system of health care in America.

Here are my points on this
1. Yes, you are correct- you do have to do SOMEthing
2. No you do not have to have a zillion pages of complicated legislation that 3/4 of the lawmakers couldn't understand if left to look over it themselves.
3. You do NOT have to do EVERYthing all at once
4. Quit distorting facts, and quit using emotional laden stories as your main basis. Once you forget about logic, your ideas fall flat. No matter how many people you convince of your righteousness, a stupid idea, really is a stupid idea.

On the other side, you have the seeming "Party of No" that has been branded on to the Republicans. They have been deemed as the party that wants to keep the status quo, and keep the special interest insurance companies flush with control and cash from the hard working American population.

Here are my points on this
1. You really are idiots for making a huge deal out of anything that Obama supports. I suspect that if Obama fully supported your very mother, a good legion of you would immediately look for ways to vilify your mother. So quit being idiots.
2. Get focused, and craft an entire bill yourselves. Look to address some problems beyond the most very obvious, and be fair about it. Don't merely countermand that anything the democrats do is stupid and anti-American. Again, this only serves to make you look like idiots.
3. Don't assume you can use fear as a main tactic forever. Sooner or later your words get played out, and no one cares. Remember the little fable about the boy who cried wolf? Yeah, you guys are him.
4. Quit distorting the facts. Inventing ghosts and using end-times equivalent stories to make your point only work so well. Get your facts, check your facts, and be really specific on your points and exactly how things are working. Don't cherry pick your facts, so the people who oppose you can say "hey look he forgot to mention the second half of the statement that shows us to be right". If you fail to use logic, and your idea falls flat when applied to a litmus test, well like I said of the democrats, a stupid idea is a stupid idea, no matter how many people believe in it.

But lets look now at a few specific ideas within the health care bill and the concepts it brings to the table.

1. Individual mandates. In other words, you buy adequate health insurance (as deemed most likely by a government bureaucrat), or you pay a fine. If you won't pay the fine, spend some time in jail. the enforcement of this idea is under the jurisdiction of the IRS. You know, the tax guys.

First of all, even if the health care reform bill is passed, if this clause is in it, the fight has only just begun. It will go to the Supreme Court, and will most likely be struck down. You will have wasted a crap load of money dealing with the legislation, then the court case, and in the meantime while that's being decided, it may well affect a lot of people who will in fact be active dissenters to this clause. Never mind the fact that Congress, according to their position have to consider the constitutionality of their actions even before trying to see how it will go down in a Supreme Court decision. That's their responsibility, which more often than not, they shirk away from on their way to cash that check with their new taxpayer-funded raises they gave themselves.

Secondly, if this is not a tax, as it has been argued...then why are the tax guys in charge of compliance? These are the same guys who will arrest you and jail you for the mere act of following the very letter of the law when it comes time to filing and paying taxes. There's a couple key words in the tax code as it was written that says "voluntary compliance". Interestingly enough, it isn't so voluntary once you get down to the bottom of it all. And with this mandate, as it is worded, there will be nothing voluntary about it, so be prepared to pay a price if you choose not to buy a pre-approved plan.

Thirdly, they say that the argument against health care reform is headed by insurance companies as they are wanting to keep the status quo. Well, in one sense I can see it. However, the mandate specifically adds millions to these companies rolls of paying customers. the very clause says, individuals will buy insurance from private insurance companies. Never mind the unconstitutionality of this, just think about who profits from having millions of new people paying into them. Yeah, so much for "eliminating special interests" from the argument. You can tell with this one clause that those special interests have bought and paid for our elected officials who go along with this plan.

You really want to look at some options to go with? And no these are not merely my GOP provided talking points here.

Take your time. Decide what the problems are with the system. Then divide them up into smaller groups and legislate in a few fixes at a time. Then move on to the next group of problems. If some of the new legislation isn't working, try a different angle that goes into effect and repeals the previous legislation, so as not to keep clogging up our law books with antiquated and irrelevant crap. Any costs associated with the first idea, transfer to the replacement.

In other words, lets solve the problems one or two issues at a time. You don't need 2000 pages and an immediate and complete changeover to get things accomplished.

You want competition against the collusion and monopoly of health insurers??? Try using your power to replace some your predecessors idiotic measures. You know, way back when, our leaders were expected to protect us from trusts and monopolies of companies so that they couldn't take unfair advantage of us Americans. And yet, guess who specifically made an exemption so that health insurance companies could create their own monopolies and leave us to their mercy, god forbid they had any to begin with? Yep..that's right the Congress of the United States of America, and signed into law by our President at that time. Seems to me if you allow interstate commerce, you will see an increase in competition, and you will see premium costs go down, reductions in co pays and deductibles as perks to attract more customers away from the competition.

Allow interstate commerce within the health insurance industry.

Tort reform. Look I'm not talking about ludicrous ideas like capping rewards at a mere $250,000 per case. I'm saying give it a rational look and make monetary awards with a little discretion. If you want to mandate something here is where you do it. Whatever it takes money-wise to take care of a person who is injured or debilitated due to medical malpractice, give them that to start with. Say a free ride to whatever medical facility they have in their area or that treats such things if their isn't a local provider of such services. Just issue them a card that says, I get free treatment. As far as other monetary damages being awarded, look at their salary and years left to retirement, and give them that, maybe with a slight bonus to make up for any inflation. No more $10 million "pain and suffering" awards t someone who makes $20,000 a year and is only going to be working another 10 years before retiring anyways. I understand its their life we're talking about, but 9 out 10 people will never make $10 million in their life total, so lets be realistic here. If the malpractice results in a death, then figure out an amicable financial settlement for the family of the deceased. And again, it shouldn't be $10 million. It should take care of things, but not turn them into instant Forbes 500 kind of people. With a little tort reform, you will see an expansion of some medical services to certain areas that are lacking, geographically speaking. You will also see a lot less wasting of the unnecessary testing that doctors go through knowing full well their patient is not suffering from "hyper-idiomoronic syndrome". Many people will retort that tort reform will only make it harder to sue doctors who screw up, and that defensive medicine costs and malpractice insurance costs are only a sliver of a percentage of why health care is so costly. First off, lets not change the wording that makes it harder to sue, just change the monetary awards to a more common sense level. Secondly, so what about percentages of cost. Isn't every little bit saved that much better for everybody all around? After all, we keep voting in guys who just want me to put in fractions of a penny on the dollars I earn to pay for this program or that program, and everyone seems to be fine with that.

Tort reform should be fair to both sides.

Look, in the end, I don't have all the answers. I don't think there is a single member, much less the collective body, of congress that does. I don't think the President does. I don't think consumer advocates do, nor do the health care industry's many entities. But I think we need to slow down, get off the ideological train wreck we are all on, and figure out a few things a time to see what works, rather than changing up the system entirely in one fell swoop, with hardly a clue of the consequences. No plan goes perfectly in general, but in two areas it really shows its imperfection: battlefields and government.

We don't have to do things like other countries do them. We're America. We have created more wealth than almost every other country in the world combined, in fact some of those countries made a good chunk of money through our system or because of it. The reason we can give so much financial support in pure dollars to other countries to aid them in defense, or in the event of a natural disaster, is because we made the money in the first place. One may say there is something wrong with American exceptionalism. And maybe to a point there is, but it was our exceptionalism that led the world into modern times. You look around the world, and a lot of items were either created here in the U.S. (see: cars, airplanes) or we vastly improved upon items invented elsewhere (see: gunpowder, space travel). We can create our version of health care, improved upon what we have now, and make it unique and better than anyone else's if we step back and put our logical minds instead of our emotional minds to it.

We built our country on the idea of free market, with some government to reign in the players from hurting each other. Let us not just take all the players out and have the government draft only its own players to play the game. You'll never win with that kind of plan. Unless you're already one of the power players or well connected to them. Lets use the framework fo what got us here in the first place, re-tweak it, and use it to propel us ahead to where we need to go.



Let us be that Shining Beacon on the Hill, not just to Americans already here, but be the example for the rest of the world.

Monday, December 21, 2009

Rent-a-Cop of the Year Awards

Well, after a long, hard fought competition, the Rent-a-Cop of the Year for 2009 is...... (okay so I haven't learned how to make a drum roll noise happen here, you need to do it yourself):

Colonel Beauregard Sterlng Lovell, Head of security at the Mookified Compound. What he did to earn this illustrious honor: took out Rent-a-Cop Manager of the Year 2008, Stew Holloway, when he came to check on the Colonel. After Manager Holloway stepped on his tail, The Colonel sprung into action with his cat-like reflexes, did a jiu jitsu leg sweep and then sprang at Manager Holloway's head, and biting him on the ear.

Let me be the first one to say, this contest was obviously rigged somewhere along the line, and by rigged, I mean NOT IN MY FAVOR!!! I was one of the 6 judges for the competition. Now before anyone asks how ethical it might be for me to be running for the award while being a judge...I invented the friggin award, so get over it. After hearing the announcement, I found the head judge, Manager Holloway, and asked for the breakdown on the votes. Apparently I was the only one who voted for me. Given my track record of excellent rentacopping, I was rather shocked at this. Apparently I didn't bribe the right people here. (In retrospect, bribing myself, a sure vote, was probably not worth the time, energy or cost that could've been invested in one of the other 5 judges).

Also upon hearing the news, newcomer and runner-up for the award, Trevor "Irish" McCarthy was also not pleased, and recently commented on his facebook about how he would be gracious, yet wished the Colonel harm, in hopes of taking his place. Irish was then informed that unlike other meritorious awards like Miss America (Irish also missed out on winning this one, after disparaging homosexuals rather blatantly when questioned by Perez Hilton- almost to the point of being arrested for his disturbances), there are no duties to the community or anything resembling service requirements associated with this award. Once you win, you win, and all losers (which I guess includes me) will just have to wait for next year in hopes of being bestowed with such high honors as the Rent-a-Cop of the Year Award.

It was however a very successful gala last evening. Lots of cavorting about drunk on jelly donut filling, or glaze, as well as highly intoximacated rentacops loaded with all sorts of liquor, and probably a few other things, like drain cleaner (Irish), windex (Manager Holloway), and the like (Me- not sure what it was...scrubbing bubbles maybe?).

At one point, all human rentacops vowed revenge on the Colonel for having upstaged them, a brawl ensued, we haven't seen the Colonel since, however we have all managed to be coated, inside and out, with his hair.

Three upstanding rentacops made citizen arrests on themselves for drunk and disorderly after having gone, not through the window in the midst of the fight, but managed to take out the wall itself, and land in the parking lot. One, is testifying both for and against himself in a trial set for just after the New Year. We haven't figured that one out yet. But, if you thought lawyers were full of shit, be prepared for this idiot rentacop to make you proud at his ability to upstage even the best of lawyers.

WE haven't seen Irish either. We last saw him bragging about his ability to maintain the fight while imbibing an entire 55-gallon drum full of Irish Whiskey, without being knocked out, or passing out. He's probably still somewhere in the rubble trying to get the last few drops down before the cleanup crew clears all the debris away, finds him, and kicks him out.

In all the drunken madness the Rent-a-Cop Manager of the Year award ended up going to former NPI supervisor Hayley Eash. She was not in attendance at the great gala, but received 5 out of 6 first place votes in the human poll. The Harris interactive computers had her at .945, while the AP computers had her as low as .796. BCS representatives were unable to explain these discrepancies, but did issue a statement to the effect that the system is what it is, and works effectively enough to determine a national championship. Somewhere, Congress is looking to investigate the BCS' role in determining not only college football, but also the Rent-a-Cop of the Year awards as well. Representative Barney Frank was clearly annoyed that after Manager Holloway stole the ladies swimwear event with style yet didn't win.

Either way it was fun, we were all drunk and/or in jail despite our supposing to have been on duty. Irish and the Colonel are AWOL....could be that Irish found the Colonel, and perpetrated that harm he wished and is off burying the body. But until he returns and files an incident report, details are sketchy at best. We're still a bit busy nursing our hangovers and in some cases, consoling their Bubbas as they get bailed out pending their hearings. If we ever recover any photos from the event we'll be sure to update you. If pictures of a few goats surface, don't judge us.

Tuesday, November 17, 2009

Mythological Jobs Created and Saved in Mythological Places

Some of the mythological places these jobs have been saved and/or created are hidden in some alternate universe that overlays our very own United States. The other mythological places are brought into existence in the real world through a budget line, yet by admission of some in charge of these jobs, the saved jobs were never in danger even without the stimulus. The jobs created were also found to be duplicate jobs in the form of pay raises to current employees. Others yet, are just plain ludicrous no matter what angle you wish to find them. The following two sub-posts here are courtesy of Dan McLaughlin at RedState.com.


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Your Tax Dollars At Liesure
Posted by Dan McLaughlin (Profile)

Monday, November 16th at 12:55PM EST

19 Comments
The Washington Examiner spots the pattern from multiple news reports:

More than ten percent of the jobs the Obama administration has claimed were “created or saved” by the $787 billion stimulus package are doubtful or imaginary, according to reports compiled from eleven major newspapers and the Associated Press.

Based only on our analysis of stimulus media coverage in the last two weeks, The Examiner has created this interactive map to document exaggerated stimulus claims. The map, which will be updated as new revelations appear, currently reflects an exaggeration by the Obama administration of about 75,000 jobs, out of the 640,000 jobs supposedly “created or saved.”

Read the whole thing, and don’t miss clicking on the link for the map. Ah, well, it’s only $787 billion, I’m sure there’s more where that came from.
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PART TWO

Unicorns, Leprechauns and Jobs Created By the Stimulus
Posted by Dan McLaughlin (Profile)

Monday, November 16th at 4:17PM EST

Somewhere in these 57 states, there exist Congressional Districts between sight and sound, in which Barack Obama is “creating jobs” that do not exist for constituents of Congresspersons who do not exist either,reports Jonathan Karl of ABC News:

Here’s a stimulus success story: In Arizona’s 9th Congressional District, 30 jobs have been saved or created with just $761,420 in federal stimulus spending. At least that’s what the website set up by the Obama Administration to track the $787 billion stimulus says.

There’s one problem, though: There is no 9th Congressional District in Arizona; the state has only eight Congressional Districts.

There’s no 86th Congressional District in Arizona either, but the government’s recovery.gov Web site says $34 million in stimulus money has been spent there.

In fact, Recovery.gov lists hundreds of millions spent and hundreds of jobs created in Congressional districts that don’t exist.

Read the whole thing (did you know the Northern Mariana Islands had 99 Congressional Districts? Neither did I.)

I can’t wait for these guys to run the Census, can you?

Wednesday, March 25, 2009

AIG Executive Resigns.....with good cause

The following is a letter sent on Tuesday by Jake DeSantis, an executive vice president of the American International Group’s financial products unit, to Edward M. Liddy, the chief executive of A.I.G.


DEAR Mr. Liddy,

It is with deep regret that I submit my notice of resignation from A.I.G. Financial Products. I hope you take the time to read this entire letter. Before describing the details of my decision, I want to offer some context:

I am proud of everything I have done for the commodity and equity divisions of A.I.G.-F.P. I was in no way involved in — or responsible for — the credit default swap transactions that have hamstrung A.I.G. Nor were more than a handful of the 400 current employees of A.I.G.-F.P. Most of those responsible have left the company and have conspicuously escaped the public outrage.

After 12 months of hard work dismantling the company — during which A.I.G. reassured us many times we would be rewarded in March 2009 — we in the financial products unit have been betrayed by A.I.G. and are being unfairly persecuted by elected officials. In response to this, I will now leave the company and donate my entire post-tax retention payment to those suffering from the global economic downturn. My intent is to keep none of the money myself.

I take this action after 11 years of dedicated, honorable service to A.I.G. I can no longer effectively perform my duties in this dysfunctional environment, nor am I being paid to do so. Like you, I was asked to work for an annual salary of $1, and I agreed out of a sense of duty to the company and to the public officials who have come to its aid. Having now been let down by both, I can no longer justify spending 10, 12, 14 hours a day away from my family for the benefit of those who have let me down.

You and I have never met or spoken to each other, so I’d like to tell you about myself. I was raised by schoolteachers working multiple jobs in a world of closing steel mills. My hard work earned me acceptance to M.I.T., and the institute’s generous financial aid enabled me to attend. I had fulfilled my American dream.

I started at this company in 1998 as an equity trader, became the head of equity and commodity trading and, a couple of years before A.I.G.’s meltdown last September, was named the head of business development for commodities. Over this period the equity and commodity units were consistently profitable — in most years generating net profits of well over $100 million. Most recently, during the dismantling of A.I.G.-F.P., I was an integral player in the pending sale of its well-regarded commodity index business to UBS. As you know, business unit sales like this are crucial to A.I.G.’s effort to repay the American taxpayer.

The profitability of the businesses with which I was associated clearly supported my compensation. I never received any pay resulting from the credit default swaps that are now losing so much money. I did, however, like many others here, lose a significant portion of my life savings in the form of deferred compensation invested in the capital of A.I.G.-F.P. because of those losses. In this way I have personally suffered from this controversial activity — directly as well as indirectly with the rest of the taxpayers.

I have the utmost respect for the civic duty that you are now performing at A.I.G. You are as blameless for these credit default swap losses as I am. You answered your country’s call and you are taking a tremendous beating for it.

But you also are aware that most of the employees of your financial products unit had nothing to do with the large losses. And I am disappointed and frustrated over your lack of support for us. I and many others in the unit feel betrayed that you failed to stand up for us in the face of untrue and unfair accusations from certain members of Congress last Wednesday and from the press over our retention payments, and that you didn’t defend us against the baseless and reckless comments made by the attorneys general of New York and Connecticut.

My guess is that in October, when you learned of these retention contracts, you realized that the employees of the financial products unit needed some incentive to stay and that the contracts, being both ethical and useful, should be left to stand. That’s probably why A.I.G. management assured us on three occasions during that month that the company would “live up to its commitment” to honor the contract guarantees.

That may be why you decided to accelerate by three months more than a quarter of the amounts due under the contracts. That action signified to us your support, and was hardly something that one would do if he truly found the contracts “distasteful.”

That may also be why you authorized the balance of the payments on March 13.

At no time during the past six months that you have been leading A.I.G. did you ask us to revise, renegotiate or break these contracts — until several hours before your appearance last week before Congress.

I think your initial decision to honor the contracts was both ethical and financially astute, but it seems to have been politically unwise. It’s now apparent that you either misunderstood the agreements that you had made — tacit or otherwise — with the Federal Reserve, the Treasury, various members of Congress and Attorney General Andrew Cuomo of New York, or were not strong enough to withstand the shifting political winds.

You’ve now asked the current employees of A.I.G.-F.P. to repay these earnings. As you can imagine, there has been a tremendous amount of serious thought and heated discussion about how we should respond to this breach of trust.

As most of us have done nothing wrong, guilt is not a motivation to surrender our earnings. We have worked 12 long months under these contracts and now deserve to be paid as promised. None of us should be cheated of our payments any more than a plumber should be cheated after he has fixed the pipes but a careless electrician causes a fire that burns down the house.

Many of the employees have, in the past six months, turned down job offers from more stable employers, based on A.I.G.’s assurances that the contracts would be honored. They are now angry about having been misled by A.I.G.’s promises and are not inclined to return the money as a favor to you.

The only real motivation that anyone at A.I.G.-F.P. now has is fear. Mr. Cuomo has threatened to “name and shame,” and his counterpart in Connecticut, Richard Blumenthal, has made similar threats — even though attorneys general are supposed to stand for due process, to conduct trials in courts and not the press.

So what am I to do? There’s no easy answer. I know that because of hard work I have benefited more than most during the economic boom and have saved enough that my family is unlikely to suffer devastating losses during the current bust. Some might argue that members of my profession have been overpaid, and I wouldn’t disagree.

That is why I have decided to donate 100 percent of the effective after-tax proceeds of my retention payment directly to organizations that are helping people who are suffering from the global downturn. This is not a tax-deduction gimmick; I simply believe that I at least deserve to dictate how my earnings are spent, and do not want to see them disappear back into the obscurity of A.I.G.’s or the federal government’s budget. Our earnings have caused such a distraction for so many from the more pressing issues our country faces, and I would like to see my share of it benefit those truly in need.

On March 16 I received a payment from A.I.G. amounting to $742,006.40, after taxes. In light of the uncertainty over the ultimate taxation and legal status of this payment, the actual amount I donate may be less — in fact, it may end up being far less if the recent House bill raising the tax on the retention payments to 90 percent stands. Once all the money is donated, you will immediately receive a list of all recipients.

This choice is right for me. I wish others at A.I.G.-F.P. luck finding peace with their difficult decision, and only hope their judgment is not clouded by fear.

Mr. Liddy, I wish you success in your commitment to return the money extended by the American government, and luck with the continued unwinding of the company’s diverse businesses — especially those remaining credit default swaps. I’ll continue over the short term to help make sure no balls are dropped, but after what’s happened this past week I can’t remain much longer — there is too much bad blood. I’m not sure how you will greet my resignation, but at least Attorney General Blumenthal should be relieved that I’ll leave under my own power and will not need to be “shoved out the door.”

Sincerely,

Jake DeSantis

Wednesday, February 11, 2009

A Consensus On Government Intervention In Our Economy? Depends On Who You Talk To.

First there was TARP, the initial bailout plan. The government approved and distributed hundreds of billions of dollars, taxpayer monies either printed out of thin air or borrowed from other countries with a nice interest rate attached to our new and growing debt, piled onto an already enormous amount of debt that we seem so fond of building upon. As recent history has noted, we basically wasted that money on a whole lot of nothing. We stuck money into the hands of already rich people, who basically decided to hold onto the money for themselves. Instead of loosening the credit markets and rebooting the economy, we added a big pile of debt that we'll be paying on for decades, despite having seen any real benefit. So, government intervention is good? Not in this case, but chalk the government up for a score. Government: 1 The People: 0

Now we have TARP 2....the new stimulus package that is being hammered out into an agreeable plan between the House of Representatives and the Senate. The whole plan is being engineered by the same guys who engineered the first one. And like the first one, there is little to no accountability for any of the numbers. Who gets the money? How much do they get? What will these monies produce in the end? And to all three questions, I'll bet less than 1/10th of 1 percent of the populace in general, if not the same percentage of those voting on it, could give you a reliable answer. We're just set, regardless of public support, to start throwing money out at random ideas in hopes that something sticks and works. And while the government is supposed to work for us people, it is us people who are having the wool pulled over our eyes. The President has and does want this package passed as quickly as possible, with little to no debate, so that the money can start flowing into the hands of those the administration deems worthy. Now Our President and many "esteemed" members of congress, mainly democrats, are convinced that we as individuals, and businesses cannot solve our problems. Only the great and powerful U.S. Government, in all its inifinite wisdom (remember they already fleeced us for hundreds of billions once, and if your anti-war, Bush-hating people, the government was the ones behind confirming the intelligence and sending us to Iraq..pure geniuses on both counts, eh?), is the only entity capable of solving our problems. Nevermind the fact that some of our problems, economically speaking were forced on us, via government policy, as well as by example. How can the government tell us how to be fiscally responsible when they are in fact the greatest creators of debt and deficit the world has ever known. In fact, the majority of the major players involved in "solving our collective problems" were partly responsible for helping create some of these problems to begin with. Now maybe that last point can be a point of contention for some, but regardless of politics, it is those certain people of influence who helped shape policy in the past that got us to this point. Now, don't get me wrong, I'm a firm believer in the addage "You made the mess, clean it up", but spending outrageous amounts of money (especially on quite a few programs that do nothing for the economy other than throwing money around at nonproductive measures..uh, bike trails anyone? hellooooo?)
Many people voted President Obama into office, not over John McCain, but in response to George W Bush's 8 years of office. They called for the hope and change that Obama touted so greatly. And yet, here is Obama, doing the exact same things we tried under Bush, hiring the exact same people who have been running around Washington for years, some longer than Obama has even lived life on this planet. So, the change is nowhere to be seen, as of yet...other than the fact that our president has a different name than the one we had just a month ago. Oh wait, I'm mistaken..I just saw some loose change on the floor. As for the Hope issue...well here's to hoping we as a nation, or at least our powers that be, don't royally screw us up for an indefinite and unforeseeable future. I now plan to keep a jar of vaseline with me everytime I go to get my paycheck, because sooner or later the piper is going to want to be paid, and guess who he is gonna come to for the money..you and me, that's who. All because our wonderful "leaders" in Washington have the most brilliant of ideas that always end up costing us money, while they attend their cocktail parties and laugh at the rest of us poor folks who think we really have any power to stick it to them. Because afterall, its the special interest guru who's tending bar that night, and he's mixing up their drinks real special....they just gave his cause a tax break plus a few hundren million bucks. Lucky us!
Below is a quote from President Barack Obama, made in January, followed by an open letter from some economists who have some slightly different ideas than he does.

"There is no disagreement that we need action by our government, a recovery plan that will help to jumpstart the economy."
— PRESIDENT-ELECT BARACK OBAMA, JANUARY 9 , 2009


With all due respect Mr. President, that is not true.
Notwithstanding reports that all economists are now Keynesians and that we all support a big increase in the burden of government, we do not believe that more government spending is a way to improve economic performance. More government spending by Hoover and Roosevelt did not pull the United States economy out of the Great Depression in the 1930s. More government spending did not solve Japan's "lost decade" in the 1990s. As such, it is a triumph of hope over experience to believe that more government spending will help the U.S. today. To improve the economy, policy makers should focus on reforms that remove impediments to work, saving, investment and production. Lower tax rates and a reduction in the burden of government are the best ways of using fiscal policy to boost growth.

Burton Abrams, Univ. of Delaware
Douglas Adie, Ohio University
Ryan Amacher, Univ. of Texas at Arlington
J.J. Arias, Georgia College & State University
Howard Baetjer, Jr., Towson University
Stacie Beck, Univ. of Delaware
Don Bellante, Univ. of South Florida
James Bennett, George Mason University
Bruce Benson, Florida State University
Sanjai Bhagat, Univ. of Colorado at Boulder
Mark Bils, Univ. of Rochester
Alberto Bisin, New York University
Walter Block, Loyola University New Orleans
Cecil Bohanon, Ball State University
Michele Boldrin, Washington University in St. Louis
Donald Booth, Chapman University
Michael Bordo, Rutgers University
Samuel Bostaph, Univ. of Dallas
Scott Bradford, Brigham Young University
Genevieve Briand, Eastern Washington University
George Brower, Moravian College
James Buchanan, Nobel laureate
Richard Burdekin, Claremont McKenna College
Henry Butler, Northwestern University
William Butos, Trinity College
Peter Calcagno, College of Charleston
Bryan Caplan, George Mason University
Art Carden, Rhodes College
James Cardon, Brigham Young University
Dustin Chambers, Salisbury University
Emily Chamlee-Wright, Beloit College
V.V. Chari, Univ. of Minnesota
Barry Chiswick, Univ. of Illinois at Chicago
Lawrence Cima, John Carroll University
J.R. Clark, Univ. of Tennessee at Chattanooga
Gian Luca Clementi, New York University
R. Morris Coats, Nicholls State University
John Cochran, Metropolitan State College
John Cochrane, Univ. of Chicago
John Cogan, Hoover Institution, Stanford University
John Coleman, Duke University
Boyd Collier, Tarleton State University
Robert Collinge, Univ. of Texas at San Antonio
Lee Coppock, Univ. of Virginia
Mario Crucini, Vanderbilt University
Christopher Culp, Univ. of Chicago
Kirby Cundiff, Northeastern State University
Antony Davies, Duquesne University
John Dawson, Appalachian State University
Clarence Deitsch, Ball State University
Arthur Diamond, Jr., Univ. of Nebraska at Omaha
John Dobra, Univ. of Nevada, Reno
James Dorn, Towson University
Christopher Douglas, Univ. of Michigan, Flint
Floyd Duncan, Virginia Military Institute
Francis Egan, Trinity College
John Egger, Towson University
Kenneth Elzinga, Univ. of Virginia
Paul Evans, Ohio State University
Eugene Fama, Univ. of Chicago
W. Ken Farr, Georgia College & State University
Hartmut Fischer, Univ. of San Francisco
Fred Foldvary, Santa Clara University
Murray Frank, Univ. of Minnesota
Peter Frank, Wingate University
Timothy Fuerst, Bowling Green State University
B. Delworth Gardner, Brigham Young University
John Garen, Univ. of Kentucky
Rick Geddes, Cornell University
Aaron Gellman, Northwestern University
William Gerdes, Clarke College
Michael Gibbs, Univ. of Chicago
Stephan Gohmann, Univ. of Louisville
Rodolfo Gonzalez, San Jose State University
Richard Gordon, Penn State University
Peter Gordon, Univ. of Southern California
Ernie Goss, Creighton University
Paul Gregory, Univ. of Houston
Earl Grinols, Baylor University
Daniel Gropper, Auburn University
R.W. Hafer, Southern Illinois
University, Edwardsville
Arthur Hall, Univ. of Kansas
Steve Hanke, Johns Hopkins
Stephen Happel, Arizona State University
Frank Hefner, College of Charleston
Ronald Heiner, George Mason University
David Henderson, Hoover Institution, Stanford University
Robert Herren, North Dakota State University
Gailen Hite, Columbia University
Steven Horwitz, St. Lawrence University
John Howe, Univ. of Missouri, Columbia
Jeffrey Hummel, San Jose State University
Bruce Hutchinson, Univ. of Tennessee at Chattanooga
Brian Jacobsen, Wisconsin Lutheran College
Jason Johnston, Univ. of Pennsylvania
Boyan Jovanovic, New York University
Jonathan Karpoff, Univ. of Washington
Barry Keating, Univ. of Notre Dame
Naveen Khanna, Michigan State University
Nicholas Kiefer, Cornell University
Daniel Klein, George Mason University
Paul Koch, Univ. of Kansas
Narayana Kocherlakota, Univ. of Minnesota
Marek Kolar, Delta College
Roger Koppl, Fairleigh Dickinson University
Kishore Kulkarni, Metropolitan State College of Denver
Deepak Lal, UCLA
George Langelett, South Dakota State University
James Larriviere, Spring Hill College
Robert Lawson, Auburn University
John Levendis, Loyola University New Orleans
David Levine, Washington University in St. Louis
Peter Lewin, Univ. of Texas at Dallas
Dean Lillard, Cornell University
Zheng Liu, Emory University
Alan Lockard, Binghampton University
Edward Lopez, San Jose State University
John Lunn, Hope College
Glenn MacDonald, Washington
University in St. Louis
Michael Marlow, California
Polytechnic State University
Deryl Martin, Tennessee Tech University
Dale Matcheck, Northwood University
Deirdre McCloskey, Univ. of Illinois, Chicago
John McDermott, Univ. of South Carolina
Joseph McGarrity, Univ. of Central Arkansas
Roger Meiners, Univ. of Texas at Arlington
Allan Meltzer, Carnegie Mellon University
John Merrifield, Univ. of Texas at San Antonio
James Miller III, George Mason University
Jeffrey Miron, Harvard University
Thomas Moeller, Texas Christian University
John Moorhouse, Wake Forest University
Andrea Moro, Vanderbilt University
Andrew Morriss, Univ. of Illinois at Urbana-Champaign
Michael Munger, Duke University
Kevin Murphy, Univ. of Southern California
Richard Muth, Emory University
Charles Nelson, Univ. of Washington
Seth Norton, Wheaton College
Lee Ohanian, Univ. of California, Los Angeles
Lydia Ortega, San Jose State University
Evan Osborne, Wright State University
Randall Parker, East Carolina University
Donald Parsons, George Washington University
Sam Peltzman, Univ. of Chicago
Mark Perry, Univ. of Michigan, Flint
Christopher Phelan, Univ. of Minnesota
Gordon Phillips, Univ. of Maryland
Michael Pippenger, Univ. of Alaska, Fairbanks
Tomasz Piskorski, Columbia University
Brennan Platt, Brigham Young University
Joseph Pomykala, Towson University
William Poole, Univ. of Delaware
Barry Poulson, Univ. of Colorado at Boulder
Benjamin Powell, Suffolk University
Edward Prescott, Nobel laureate
Gary Quinlivan, Saint Vincent College
Reza Ramazani, Saint Michael's College
Adriano Rampini, Duke University
Eric Rasmusen, Indiana University
Mario Rizzo, New York University
Richard Roll, Univ. of California, Los Angeles
Robert Rossana, Wayne State University
James Roumasset, Univ. of Hawaii at Manoa
John Rowe, Univ. of South Florida
Charles Rowley, George Mason University
Juan Rubio-Ramirez, Duke University
Roy Ruffin, Univ. of Houston
Kevin Salyer, Univ. of California, Davis
Pavel Savor, Univ. of Pennsylvania
Ronald Schmidt, Univ. of Rochester
Carlos Seiglie, Rutgers University
William Shughart II, Univ. of Mississippi
Charles Skipton, Univ. of Tampa
James Smith, Western Carolina University
Vernon Smith, Nobel laureate
Lawrence Southwick, Jr., Univ. at Buffalo
Dean Stansel, Florida Gulf Coast University
Houston Stokes, Univ. of Illinois at Chicago
Brian Strow, Western Kentucky University
Shirley Svorny, California State
University, Northridge
John Tatom, Indiana State University
Wade Thomas, State University of New York at Oneonta
Henry Thompson, Auburn University
Alex Tokarev, The King's College
Edward Tower, Duke University
Leo Troy, Rutgers University
David Tuerck, Suffolk University
Charlotte Twight, Boise State University
Kamal Upadhyaya, Univ. of New Haven
Charles Upton, Kent State University
T. Norman Van Cott, Ball State University
Richard Vedder, Ohio University
Richard Wagner, George Mason University
Douglas M. Walker, College of Charleston
Douglas O. Walker, Regent University
Christopher Westley, Jacksonville State University
Lawrence White, Univ. of Missouri at St. Louis
Walter Williams, George Mason University
Doug Wills, Univ. of Washington Tacoma
Dennis Wilson, Western Kentucky University
Gary Wolfram, Hillsdale College
Huizhong Zhou, Western Michigan University
Additional economists who have signed the statement

Lee Adkins, Oklahoma State University
William Albrecht, Univ. of Iowa
Donald Alexander, Western Michigan University
Geoffrey Andron, Austin Community College
Nathan Ashby, Univ. of Texas at El Paso
George Averitt, Purdue North Central University
Charles Baird, California State University, East Bay
Timothy Bastian, Creighton University
John Bethune, Barton College
Robert Bise, Orange Coast College
Karl Borden, University of Nebraska
Donald Boudreaux, George Mason University
Ivan Brick, Rutgers University
Phil Bryson, Brigham Young University
Richard Burkhauser, Cornell University
Edwin Burton, Univ. of Virginia
Jim Butkiewicz, Univ. of Delaware
Richard Cebula, Armstrong Atlantic State University
Don Chance, Louisiana State University
Robert Chatfield, Univ. of Nevada, Las Vegas
Lloyd Cohen, George Mason University
Peter Colwell, Univ. of Illinois at Urbana-Champaign
Michael Connolly, Univ. of Miami
Jim Couch, Univ. of North Alabama
Eleanor Craig, Univ. of Delaware
Michael Daniels, Columbus State University
A. Edward Day, Univ. of Texas at Dallas
Stephen Dempsey, Univ. of Vermont
Allan DeSerpa, Arizona State University
William Dewald, Ohio State University
Jeff Dorfman, Univ. of Georgia
Lanny Ebenstein, Univ. of California, Santa Barbara
Michael Erickson, The College of Idaho
Jack Estill, San Jose State University
Dorla Evans, Univ. of Alabama in Huntsville
Frank Falero, California State University, Bakersfield
Daniel Feenberg, National Bureau of Economic Research
Eric Fisher, California Polytechnic State University
Arthur Fleisher, Metropolitan State College of Denver
William Ford, Middle Tennessee State University
Ralph Frasca, Univ. of Dayton
Joseph Giacalone, St. John's University
Adam Gifford, California State Unviersity, Northridge
Otis Gilley, Louisiana Tech University
J. Edward Graham, University of North Carolina at Wilmington
Richard Grant, Lipscomb University
Gauri-Shankar Guha, Arkansas State University
Darren Gulla, Univ. of Kentucky
Dennis Halcoussis, California State University, Northridge
Richard Hart, Miami University
James Hartley, Mount Holyoke College
Thomas Hazlett, George Mason University
Scott Hein, Texas Tech University
Bradley Hobbs, Florida Gulf Coast University
John Hoehn, Michigan State University
Daniel Houser, George Mason University
Thomas Howard, University of Denver
Chris Hughen, Univ. of Denver
Marcus Ingram, Univ. of Tampa
Joseph Jadlow, Oklahoma State University
Sherry Jarrell, Wake Forest University
Carrie Kerekes, Florida Gulf Coast University
Robert Krol, California State University, Northridge
James Kurre, Penn State Erie
Tom Lehman, Indiana Wesleyan University
W. Cris Lewis, Utah State University
Stan Liebowitz, Univ. of Texas at Dallas
Anthony Losasso, Univ. of Illinois at Chicago
John Lott, Jr., Univ. of Maryland
Keith Malone, Univ. of North Alabama
Henry Manne, George Mason University
Richard Marcus, Univ. of Wisconsin-Milwaukee
Timothy Mathews, Kennesaw State University
John Matsusaka, Univ. of Southern California
Thomas Mayor, Univ. of Houston
W. Douglas McMillin, Louisiana State University
Mario Miranda, The Ohio State University
Ed Miseta, Penn State Erie
James Moncur, Univ. of Hawaii at Manoa
Charles Moss, Univ. of Florida
Tim Muris, George Mason University
John Murray, Univ. of Toledo
David Mustard, Univ. of Georgia
Steven Myers, Univ. of Akron
Dhananjay Nanda, University of Miami
Stephen Parente, Univ. of Minnesota
Allen Parkman, Univ. of New Mexico
Douglas Patterson, Virginia Polytechnic Institute and University
Timothy Perri, Appalachian State University
Mark Pingle, Univ. of Nevada, Reno
Ivan Pongracic, Hillsdale College
Robert Prati, East Carolina University
Richard Rawlins, Missouri Southern State University
Thomas Rhee, California State University, Long Beach
Christine Ries, Georgia Institute of Technology
Nancy Roberts, Arizona State University
Larry Ross, Univ. of Alaska Anchorage
Timothy Roth, Univ. of Texas at El Paso
Atulya Sarin, Santa Clara University
Thomas Saving, Texas A&M University
Eric Schansberg, Indiana University Southeast
John Seater, North Carolina University
Alan Shapiro, Univ. of Southern California
Thomas Simmons, Greenfield Community College
Frank Spreng, McKendree University
Judith Staley Brenneke, John Carroll University
John E. Stapleford, Eastern University
Courtenay Stone, Ball State University
Avanidhar Subrahmanyam, UCLA
Scott Sumner, Bentley University
Clifford Thies, Shenandoah University
William Trumbull, West Virginia University
A. Sinan Unur, Cornell University
Randall Valentine, Georgia Southwestern State University
Gustavo Ventura, Univ. of Iowa
Marc Weidenmier, Claremont McKenna College
Robert Whaples, Wake Forest University
Gene Wunder, Washburn University
John Zdanowicz, Florida International University
Jerry Zimmerman, Univ. of Rochester
Joseph Zoric, Franciscan University of Steubenville

Saturday, October 18, 2008

Debate Analysis- 3 Days Later

This last Wednesday night I saw the first 2/3 of the presidential debate (the first one I've actually watched, and more geared toward doemstic policy) before my wife distracted me with what she likes to call better action than politics, which she hates.
(3 points for the wife)

First off, IF this was my first exposure to the whole campaign, and I came in totally ignorant of everything, Obama won the debate, and I would definitely be voting for him over McCain.
(1 point Obama)

My take on the negative campaigning question, I had issue with both of them. Neither really answered. Obama tip-toed around the question, while McCain expressed disgust with negativity while simultaneously throwing in a few negative sounding jabs at the democrats.
(0 points)

On the economy, Obama sounded really great. McCain's plan was pretty sound on the surface. However its amazing to me that the moderator showed results of both plans adding about $200 billion to the deficit annually. Obama later retorted something to the effect of all independent organizations showed his plan to be perfectly sound and on target (I dont have the exact words, so don't quote me). McCain wasn't exactly on target either, but I think he had a greater grasp on the simple math...added to the fact that he supports line-item vetos, which would greatly help to reduce useless expenditures. Obama said programs would need to be cut in order to make room for some of his programs. I get that, however, his plan still leaves way too much taxation on the group that will provide more tax money either directly, or through new jobs that provide for more taxes through those people. Everytime in history has shown unfair taxation on the producers has resulted in less overall tax rolls.
So just what is Obama going to cut???
I do agree with Obama on working the tax code to encourage American companies to bring their production back home, while discouraging further outsourcing of manufacturing jobs.
(draw- 1 point each)

On energy policy, both had great ideas. Obama is still pondering the whole drilling issue, while McCain is ready to act. I score McCain that point. No matter what we do, we have to utilize all options, not just drilling, and not just anti drilling. As cheap as it makes gas in Iowa, the ethanol mandate needs to go, along with their subsidies. Obama made a point about the oil cmpanies having 68million undrilled acres of land they have leased,where they COULD get oil. The problem with that is, IS THERE ACTUALLY ANY OIL THERE? I'm in favor of them "using it or losing it", but I think we ought to concentrate efforts of drilling where we KNOW its at. I think Obama is, while not saying it, against going that direction. (1 point McCain.
)

On healthcare, I think both candidates have great ideas, and some not so great ideas, but both fall short.
(0 points)

So tallying it up, Obama and McCain score 2 points in my book each. My wife gets her 3 points...so she wins....but I'm biased and she's not running or elegible for the office. Pure scoring would show Obama as the winner of this debate. So given the draw, in my books, the debate goes to McCain for not totally flubbing this one up. Noone expected him to be anywhere near close, at least not according to main stream media outlets, and even a lot of conservative media outlets. He held his own, despite poor coaching from the leadership of the GOP.


Both candidates stuck almost squarely to their side of the aisles arguments. Obama talks about reaching across the aisle, but his words arent as loud as his voting history. He's going to have to adopt a few conservative perspectives to get all those things done he says he will, unless of course the DNC achieves filibuster proof control of Congress. McCain talks about issues, but his words give way in favor of hard-right perspectives on what should be said and done. While associations with certain people can come into question and are important, along with judgement calls on things, the issues based solely on provable facts are the only real strength of a republican platform. Unfortunately the republicans always fall short on following a real gameplan.

Tuesday, September 30, 2008

Again The Bailout Fails

The first two words that come to mind when I saw the news that a weekend worked bill to push forward with a $700 billion bailout failed:

THANK GOD!

Now I'm no financial expert for sure (I've seen my credit report showing past incidences to back up this statement), but I do know a couple things. Between big government and big business cooperating with each other to cook books and speculate on financial possibilities without a true guarantee, we got ourselves into the biggest economic disaster of my lifetime, if not the history of our country, save the Great Depression.
And now, we have the government and big business cooperating with each other, AGAIN, to use a lot of the same basic principles and ideas to fix the problem they created.

Obviously, as a country, economically we are quickly preparing to fall down the rabbit hole. Whether or not we get this bailout plan urged by certain financial related industries and our current White House administration, that rabbit hole is approaching awfully quickly, and we're going to meet it regardless.

So let me get this right...we can let the chips fall and businesses fail, and things go to hell in a handbasket, OR we can make more chips, save these poorly run businesses and still go to hell in a handbasket. Given interest rates on loans produced through newly printed, and foreign entities loans that will take that $700 billion and turn it into most likely a minimum of $3 Trillion when all is said and done. We already have multiple books on the government's end of things that have us anywhere from $9.5 trillion to $54 Trillion dollars in debt. So what's another $700 billion, right? Yeah, someone has to learn to say no. Someone has to learn to tell the people that the buck is literally stopping with all of us, right here, right now. We're going to have to suffer a little bit. We're going to actually have to consider doing without. Now I know that many in my generation and some in the preceeding generation have little idea what this concept is, but now is the time to learn the lesson.
No more pet projects, no more bailing out consistently failing businesses. No more rewarding guys responsible for getting the domino effect started leading to the crippling of entire economic industrial sectors.

Even in this bailout debate, we have politicians working hard to blame the other side. And to a point there are members of all sides to blame for where we are now. There are members of the general population who bought into the lies who are now responsible for where we are now, biting off more than they could chew with no idea how to pay for it. Many of these politicians still admit that they have no idea how well this bailout will work if passed. So we get these guys and gals together to give spending authority to one guy, with little to no oversight, to the tune of $700 billion (with authority to expand it if he feels necessary?), while having no idea what effect it will have??
That seems pretty stupid to me. Especially if we can let everything fail, learn a lesson, and figure out how to correct it naturally through our market forces and American ingenuity that has gotten us this far over the last 232 years, without spending the hundreds of billions (leading to trillions when we pay it off), that we'll spend the next few generations (if we're lucky, that'll be all) trying to get back.
So to Congress, Bush, Bernanke, and Paulson..thanks but no thanks.