Financial Bailout

Could There Be A Peasant Uprising Afoot?

More and more Congressmen are finding out that the unwashed masses they represent are not happy with what is going on in the halls of Congress. The arrogant and dismissive attitudes of those who are supposed to represent the people continues to build a groundswell of protest from coast to coast. And, it’s all being caught on video.

Gateway Pundit, Ed Morrissey at Hot Air, and Michelle Malkin have more coverage on the spreading revolt.

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Money For Nothing, NH Stimulus Costs $8.32 Million Per Job

More good news about the Obama Stimulus having its “intended” effect. NH has received $416 million in stimulus funds thus far and has actually created jobs with the money. Unfortunately, the number of jobs created is a mere 50.  Quite an accomplishment by the Granite State considering that since President Obama took office we have been losing jobs at the rate of 16,000 per day.  But, remember President Obama is telling us that the stimulus is having its intended effect, so all is well.  After such a stunning success with taking the money and creating jobs, you’d think NH would be boasting and showing off their magic job machine.  However, as Ed Morrissey at Hot Air has pointed out< mums the word in NH.

More than $400 million in federal stimulus money has come to New Hampshire this year, and more is on the way.

The Office of Legislative Budget Assistant reported last week that $413.6 million made its way to the state under a list of programs that involve education, highways, environmental, health and human services, energy and law enforcement. …

So far, a total of 50 jobs have been created by the funding, 34 of them full time. The OES will be headed by a director whom Gov. John Lynch has not yet appointed. All five OES jobs are described as full-time temporary positions that will go out of existence in September 2011, the end of the federal fiscal year.

Now that’s job creation.  I especially like the part about them being temporary full time posotions in government bureaucracies that will be eliminated when the federal money dries up.
What ever happened to the transparency and accountability promised by President Obama?  Patrick Hynes at Now Hampshire points out the fallacy of transparency.

NowHampshire.com has repeatedly asked the state’s “stimulus czar” Orville “Bud” Fitch for up-to-date tallies of stimulus jobs created in New Hampshire. At the end of May, Fitch did not know. On June 26th, Fitch told Nowhampshire.com, “We are just now rolling out a reporting system to gather information from grant fund recipients.”

Once again, the the Federal Government is proving that the only thing it is efficient at is wasting our tax payers dollars.  At $8.32 million per job they should all be summarily sent to the unemployment line.

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Obama Says The Stimulus Has Done It’s Job


Obama Lied, The Economy Died

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You Break It You Own It

With Democrats in control of all three branches of the Federal Government there is no longer anyone to blame for the state of our union.  The NRSC has released this video addressing the full responsibility of governing lies solely with the Democrats.

And, just in case anyone has forgotten, the Dems own this,

this,

and this,

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They Had It Figured Out In 1934

From a 1934 Chicago Tribune Editorial Cartoon.

via Pat Dollard

SSDD, no one listened then as long as they got their’s, and no one’s listening now as long as they get their’s.

The American Republic will endure until the day Congress discovers that it can bribe the public with the public’s money.
Alexis de Tocqueville

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The American Descent Into Marxism

“But if the government undertakes to control and to raise wages, and cannot do it; if the government undertakes to care for all who may be in want, and cannot do it; if the government undertakes to support all unemployed workers, and cannot do it; if the government undertakes to lend interest-free money to all borrowers, and cannot do it; if …. ‘The state considers that its purpose is to enlighten, to develop, to enlarge, to strengthen, to spiritualize, and to sanctify the soul of the people’ — and if the government cannot do all of these things, what then? Is it not certain that after every government failure — which, alas! is more than probable — there will be an equally inevitable revolution?”

-Frederic Bastiat, “The Law,” June,  1850

The pace of  America’s march towards Marxism is quickening, and yet the majority of Americans sit idly by and do nothing.  But, others around the world have taken notice and are now reporting on this transformation.  A recent Op-Ed in, of all places Pravda, makes note of this transformation and what lies ahead. (Emphasis mine)

Pravda

It must be said, that like the breaking of a great dam, the American decent into Marxism is happening with breath taking speed, against the back drop of a passive, hapless sheeple, excuse me dear reader, I meant people.

True, the situation has been well prepared on and off for the past century, especially the past twenty years. The initial testing grounds was conducted upon our Holy Russia and a bloody test it was. But we Russians would not just roll over and give up our freedoms and our souls, no matter how much money Wall Street poured into the fists of the Marxists.

Those lessons were taken and used to properly prepare the American populace for the surrender of their freedoms and souls, to the whims of their elites and betters.

First, the population was dumbed down through a politicized and substandard education system based on pop culture, rather then the classics. Americans know more about their favorite TV dramas then the drama in DC that directly affects their lives. They care more for their “right” to choke down a McDonalds burger or a BurgerKing burger than for their constitutional rights. Then they turn around and lecture us about our rights and about our “democracy”. Pride blind the foolish.

Then their faith in God was destroyed, until their churches, all tens of thousands of different “branches and denominations” were for the most part little more then Sunday circuses and their televangelists and top protestant mega preachers were more then happy to sell out their souls and flocks to be on the “winning” side of one pseudo Marxist politician or another. Their flocks may complain, but when explained that they would be on the “winning” side, their flocks were ever so quick to reject Christ in hopes for earthly power. Even our Holy Orthodox churches are scandalously liberalized in America.

The final collapse has come with the election of Barack Obama. His speed in the past three months has been truly impressive. His spending and money printing has been a record setting, not just in America’s short history but in the world. If this keeps up for more then another year, and there is no sign that it will not, America at best will resemble the Wiemar Republic and at worst Zimbabwe.

These past two weeks have been the most breath taking of all. First came the announcement of a planned redesign of the American Byzantine tax system, by the very thieves who used it to bankroll their thefts, loses and swindles of hundreds of billions of dollars. These make our Russian oligarchs look little more then ordinary street thugs, in comparison. Yes, the Americans have beat our own thieves in the shear volumes. Should we congratulate them?

These men, of course, are not an elected panel but made up of appointees picked from the very financial oligarchs and their henchmen who are now gorging themselves on trillions of American dollars, in one bailout after another. They are also usurping the rights, duties and powers of the American congress (parliament). Again, congress has put up little more then a whimper to their masters.

Then came Barack Obama’s command that GM’s (General Motor) president step down from leadership of his company. That is correct, dear reader, in the land of “pure” free markets, the American president now has the power, the self given power, to fire CEOs and we can assume other employees of private companies, at will. Come hither, go dither, the centurion commands his minions.

So it should be no surprise, that the American president has followed this up with a “bold” move of declaring that he and another group of unelected, chosen stooges will now redesign the entire automotive industry and will even be the guarantee of automobile policies. I am sure that if given the chance, they would happily try and redesign it for the whole of the world, too. Prime Minister Putin, less then two months ago, warned Obama and UK’s Blair, not to follow the path to Marxism, it only leads to disaster. Apparently, even though we suffered 70 years of this Western sponsored horror show, we know nothing, as foolish, drunken Russians, so let our “wise” Anglo-Saxon fools find out the folly of their own pride.

Again, the American public has taken this with barely a whimper…but a “freeman” whimper.

So, should it be any surprise to discover that the Democratically controlled Congress of America is working on passing a new regulation that would give the American Treasury department the power to set “fair” maximum salaries, evaluate performance and control how private companies give out pay raises and bonuses? Senator Barney Franks, a social pervert basking in his homosexuality (of course, amongst the modern, enlightened American societal norm, as well as that of the general West, homosexuality is not only not a looked down upon life choice, but is often praised as a virtue) and his Marxist enlightenment, has led this effort. He stresses that this only affects companies that receive government monies, but it is retroactive and taken to a logical extreme, this would include any company or industry that has ever received a tax break or incentive.

The Russian owners of American companies and industries should look thoughtfully at this and the option of closing their facilities down and fleeing the land of the Red as fast as possible. In other words, divest while there is still value left.

The proud American will go down into his slavery with out a fight, beating his chest and proclaiming to the world, how free he really is. The world will only snicker.

John Loeffler has his own analysis of “The Sad Road To Socialism”, and breaks it down into three stages,

Step One – The Moral Agument Of Something For Nothing.

The moral argument that we can finally solve poverty, pain, sickness, and hunger with “free” money seems just to good to be true.  It usually is but it sells to the public.  To fund these allegedly moral programs, the assets of the gentle citizens must be quietly taxed in the name of the public good.

Step Two – The Silent War Between Government And Its Citizens

At some point, the unwashed masses suspect their politicians aren’t really gentle any more much less benevolent.  This is where a silent war between government and people erupts.  It’s a blurry transition through never-never land when the politicians still claim to be gentle but the people sense that they have gone from being protectors of the public good and private property to a plunderers of it; from morality to immorality

Step Three – A Day Of Wrath And Mourning

Ultimately the dragon cannot keep its promises.  This last stage is where events turn nasty and chaotic.  It is a dangerous time.   It is a time no country should ever wish to reach.

Politicians are perceived as ravenous wolves.  Blame and finger-pointing frenzies among politicians erupt to deflect responsibility for the chaos they have caused as they attempt to hold onto their privileged status.

Faith in government dissolves along with faith in the currency.  Widespread flouting of law is common and tax payments quit.  If it gets bad enough, crime flourishes, both organized and random. The domestic economy collapses into a depression and the currency just collapses.

Two different views with one scary end game.  Loeffler does point out in his analysis that the end result can be avoided if the proper actions are taken.

No country trapped in socialism goes through all the events described above, which is a composite of past histories.  It can turn itself at any time providing it is prepared to discipline itself the undergo the pain required to get off the public dole, much like coming off an addiction.  Few societies ever want to face that, so they condemn themselves to all three stages.  And the longer they wait to enact the necessary changes, the worse the pain becomes.

From currency, to energy to property rights, issues today are clouded with so much static and partisan bickering that the average person has little real comprehension of what is happening.  Frequently Democrats and Republicans blame each other when often they’re both responsible and fiddle while Rome burns.

America is truly at an economic and moral crossroad, having already started into Stage Two of the sad road to socialism.   Whether or not we plow through all three stages remains to be seen.  It takes great moral courage to prevent this but politicians tend to be neither moral or courageous.

Thus it is up to what actions are moral, legal and necessary to see us, our families and friends safely through the tempest.  But as a ray of hope, it is here where Americans in times past have always shown themselves most noble.

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Barry Wants To Pimp Your House

As some had predicted, Obama’s mortgage bailout plan has now spread its tentacles to cover second mortgages.  Diana Olick told her CNBC readers and viewers two months ago about the portion of the bill, which will have taxpayers  paying for a bailout of home-equity seconds as well.

It’s not that I don’t get the reasoning. Sure, do all you can to help people pay their mortgage, like get rid of other debt. By why stop there? What about car loans? Student loans?? The second liens, in general, were used by borrowers to either buy more home than they could really afford or to use their homes as ATM machines. Yes, some people use home equity lines of credit to pay college tuition.

But I can’t tell you how many homeowners I’ve interviewed (and just take a look at David Faber’s documentary House of Cards to see more) who took out home equity lines to put in a pool or buy a fancy car or put an addition on the house that includes a fancy new kitchen with a Viking six-burner. And I’m supposed to pay for all that?

It’s one thing to suck up the bitter pill in order to save the greater housing market and keep families in their homes, but using taxpayer dollars to give homeowners a free ride on second liens is preposterous.

The Washington Post detailed portions of the plan.

The Obama administration unveiled an expansion of its $75 billion foreclosure prevention plan yesterday, providing new subsidies to mortgage lenders and investors.

Under the expanded plan, some homeowners could see their payments fall significantly and the interest rate on their second mortgage pushed down to 1 percent. The announcement comes nearly two months after the administration launched the housing program, called Making Home Affordable. While officials said some borrowers have already received help, the foreclosure rate is rising and it could be months before the program begins to have an impact.

The new efforts address, in part, criticisms from consumer advocates that the administration’s housing plan did not go far enough and that borrowers still face too many barriers to receiving help.

“Ensuring that responsible homeowners can afford to stay in their homes is critical to stabilizing the housing market, which is in turn critical to stabilizing our financial system overall. Every step we take forward is done with that imperative in mind,” Treasury Secretary Timothy F. Geithner said in a statement.

Quite a statement on responsibility by Turbo Tax Tim. Perhaps Tim should seek a better understanding of the word responsible.  Buying a house you can’t afford to make payments on and then taking out a second mortgage to pimp your digs just doesn’t add up to responsibility.

As one commenter on The Wall Street Journal Online remarked,

So, if you never borrowed more than you could afford, lived a responsible lifestyle and have been in your house a long time while doing both of these things, then you get to subsidize those that didn’t. This my friends is Socialism and rewards bad behavior. For many (especially the young) this is the first time that their financial chickens have come home to roost. Tell me, what lesson did they just learn? What do you think their expected outcome would be from doing this all over again?

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No Media Bias Here; CNN Reporter Berates Tea Partyers

Obama groupie and CNN “reporter” Susan Roesgen, holds nothing back in her assessment of Tax Day Tea Party participants during her coverage of the Chcago Tea Party. While CNN attempted to slant the image of the people who took part in yesterday’s activities, other cameras were working also.   Take a look for yourself at the exclusive video shot by Founding Bloggers yesterday.

No chance in the world that the expressions of the average man or woman on the streets were going to make it onto the CNN airwaves.  Now, thanks to Gateway Pundit, we have a comparison of Ms. Roesgen’s bias towards both former President Bush and President Obama.

Michelle Malkin’s response to Roesgen,

She called today’s events “anti-CNN.”

No, just anti-stupid.

CNN earns the Tax Day Tea Party Big Loser Award:

Biased. Busted. Beclowned.

And, could this be the final straw that kills the MSM?  Ed Driscoll ponders that very thought.

At the start of 2005, Howard Fineman warned his colleagues at Newsweek:

A political party is dying before our eyes — and I don’t mean the Democrats. I’m talking about the “mainstream media,” which is being destroyed by the opposition (or worse, the casual disdain) of George Bush’s Republican Party; by competition from other news outlets (led by the internet and Fox’s canny Roger Ailes); and by its own fraying journalistic standards.

The destruction was complete enough within four years that last month, Victor Davis Hanson wrote, “We have no media—at least as we once knew it:”

Somewhere in late 2007, it disappeared entirely, and became something akin to the old Pravda, or the livelier Baghdad Bob’s broadcasts, or the rants of Lord Haw-Haw. (We got everything from Judith Warner about the dreams of women having sex with Obama to “I felt this thrill going up my leg” Chris Matthews).

For the short-term thrill of ensuring the coronation of Barack Obama, it gave up all hard-won standards of journalistic objectivity—so much so that it is hard to adjudicate whether the rise of the Internet alone, or the clear bias of the print media, has nearly destroyed the newspaper industry.

Few any longer connect with a Newsweek editorial, a Time essay, a riff from NPR, or commentary on PBS. The front pages of the New York Times or Washington Post are op-eds in thin disguise. The faculty of the Columbia School of Journalism is not objective. We live in an age of affluent, rather inbred ironists who punch in at the Ministry of Truth, and the result is that about half of the population still wakes up every morning and sighs when they turn on the television, listen to the radio news, or read the newspaper, “He’s lying” or “She’s biased”.  The utopian ends of social egalitarianism for the new media lords justified the tawdry means of distorting reality.

The Tea Party coverage today allows viewers a perfect textbook comparison of how the legacy media covers political protests. Throughout the decade, leftwing protests against President Bush and the liberation of Iraq were reported as the salt of the earth; democracy in action; everyday Americans expressing their voice.  A quick scroll through the archives at Zombietime will quickly prove that those descriptions are simplisme at best.

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The Core Of Corruption In Government; The Federal Tax Code

It is a shame that the average U.S. citizen can’t connect the dots between the corruption, out of control spending, social engineering, and infringement of our Constitutional rights, that has been created by the Federal Tax Code.

Former Presidential Press Secretary, Ari Fleischer addressed the problem in yesterday’s Wall Street Journal.

Picture an upside-down pyramid with its narrow tip at the bottom and its base on top. The only way the pyramid can stand is by spinning fast enough or by having a wide enough tip so it won’t fall down. The federal version of this spinning top is the tax code; the government collects its money almost entirely from the people at the narrow tip and then gives it to the people at the wider side. So long as the pyramid spins, the system can work. If it slows down enough, it falls.

It’s also what’s called redistribution of income, and it is getting out of hand.

A very small number of taxpayers — the 10% of the country that makes more than $92,400 a year — pay 72.4% of the nation’s income taxes. They’re the tip of the triangle that’s supporting virtually everyone and everything. Their burden keeps getting heavier…

…According to the CBO, those who made less than $44,300 in 2001 — 60% of the country — paid a paltry 3.3% of all income taxes. By 2005, almost all of them were excused from paying any income tax. They paid less than 1% of the income tax burden. Their share shrank even when taking into account the payroll tax. In 2001, the bottom 60% paid 16.3% of all taxes; by 2005 their share was down to 14.3%. All the while, this large group of voters made 25.8% of the nation’s income.

When you make almost 26% of the income and you pay only 0.6% of the income tax, that’s a good deal, courtesy of those who do pay income taxes. For the bottom 40%, the redistribution deal is even better. In 2001, these 43 million Americans, who earn less than $30,500, made 13.5% of the nation’s income but paid no income tax. Instead, they received checks from their taxpaying neighbors worth $16.3 billion. By 2005, those checks totaled $33.3 billion.

Today, Mr. Obama and many congressional Democrats want the “wealthy” to pay even more so there is more money for them to redistribute. The president says he wants the wealthy to pay their “fair share.” Who can argue with that? But he never defines what that means. Is it fair for 10% to pay 70% of the income tax? Does he believe they should pay 75%, or 95%, or does fairness mean they should pay it all? It’s clever politics to speak like that, but it is risky policy.

As Allahpundit at Hot Air says,

No crudités or finger sandwiches for this party; just raw red meat, still on the bone, courtesy of the Cato Institute.

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Here's To You Mr. Jefferson

This just seemed so appropriate for today

h/t Kevin at Pundit Review