Democrat Spending Spree is Killing Our Economy

[Guest Always Red]

U.S. Senate Republican Leader Mitch McConnell made the following remarks on the Senate floor Wednesday regarding Democrat efforts to use the oil spill liability trust fund to pay for new, unrelated spending:

 

Our nation faces many urgent crises at the moment. Americans are looking for solutions. They’re not getting any from Washington. Whether it’s the housing crisis, the financial crisis, the debt crisis, or the crisis in the Gulf, what they’re getting is a White House and a Democrat majority in Congress that seems more intent on pursuing a government-driven political agenda than in finding common-sense solutions to the problems that ail us.

 

Americans are exasperated by all this, but they shouldn’t be surprised — because if there’s one motto that defines this administration, it the one that was delivered by the White House chief of staff in a revealing moment just after the President’s election. I’m referring, of course, to what Mr. Emanuel famously referred to as “Rule One: Never allow a crisis go to waste.”

 

It’s a fitting slogan for an administration that saw a crisis at some of America’s great auto-making firms as an opportunity for government to extend its reach into industrial policy; which saw the panic on Wall Street as an opportunity for government to extend its reach further into Main Street; which saw out-of-control costs in health care as an opportunity to extend government’s reach further into the health care decisions of every American; and which is now talking about using a nightmarish environmental calamity in the Gulf as a prime opportunity to extend government’s reach even further into Americans’ lives through a new job-killing national energy tax that would hit every single household and business, small or large, in America.

 

Think about it: for more than fifty straight days, an underwater geyser of oil now roughly the size of Vermont has been polluting the Gulf. This is the kind of crisis that in the past would have united the nation in a focused effort to solve the problem. And yet day after day, as this toxic oil continues to flow, what we get from the administration is some new twist on the blame game or some ham-handed effort to appear in control of the situation.

 

Meanwhile, here in Congress, we’re getting much the same thing: the deficit Extenders Bill that’s now on the floor was supposed to be about giving job creators some assurance that the tax benefits they’re currently receiving, and which they depend on to retain workers will be there the next time they have to make a major business-related decision.

 

Yet Democrats are using this bill as another opportunity to extend government’s reach. Desperate for funds to bail out government programs, they’re raiding a trust fund that was created — get this — to pay for just the kind of cleanup we now need in the Gulf. They’re quintupling the tax oil companies pay into the oil spill liability trust fund that was created in the wake of Exxon Valdez, and instead of using this money to clean up the oil spewing in the Gulf, they’re raiding the trust fund to pay for new, unrelated spending.

 

In other words, they’re using the crisis in the Gulf not only as cover for even more government spending, but as a major source of funding for it. This is an outrage. And it should give every American a window into the Democrat approach to spending as well as their lack of seriousness about the debt; they just can’t restrain themselves. That’s the only possible excuse for raiding this trust fund for unrelated government spending. At the same time, as Americans wonder when this gusher will ever be plugged, we hear word that the administration and the Majority Leader want to piggyback their controversial new national energy tax — also known as “cap-and-trade,” to an oil spill response bill that could and should be an opportunity for true bipartisan cooperation.

 

So here again, we see the administration using a crisis, in this case the disaster in the Gulf, as an opportunity to muscle through Congress another deeply unpopular bill that has profound implications for small business and struggling households. Look: if the health care debate taught us anything, it’s that Americans want these kinds of massive bills debated out in the open — not rushed past them on a holiday or tacked onto a must-pass bill aimed at alleviating the kind of suffering we’re seeing in the Gulf.

 

The problem for Democrats is that debating the Democrat cap-and-trade bill might not fit neatly into the White House messaging plan, since it’s been widely reported that a major part of the Kerry-Lieberman bill was essentially written by BP. This is clearly an inconvenient fact: an administration that seems to spend most of its time coming up with new ways to show how angry it is with BP is pushing a proposal that BP helped write.

 

I can’t understand, and I don’t think the American people will understand, why the Majority believes that it make sense to respond to the BP oil spill by imposing a gas tax increase on the American people that was advocated by – BP. I think the American people want us to work together to address the disaster in the Gulf, not exploit it for partisan political purposes. The oil spill trust fund ought to be used to clean up oil spills. This is one crisis that Americans won’t let Democrats exploit for their policy purposes.

[Luke_Wilbur]

What should be noted is the rate increase of government jobs over manufacturing jobs throughout the United States. The government will go broke if it loses its tax base.

 

We cannot just be merchants either. People need to start making things that hold value. Durable goods should really be durable. They should be built to last. We need to start engineering a new model based sustainability. Software and hardware is now built to last three years. We need to construct products that will stand the test of time and environmentally degrade when we want it to.

 

We have to start moving obstacles. Government and too big to fail businesses need to assist the community more. Not just with pamphlets and stop doing drugs commercials.

 

Now I have tried calling Appalachian Power numerous times about processing spent coal ash into cement. I tell them each time that I want to use it as mortar for my cabin. The only assumption I take is that they either know it cannot be processed safely or they just are reluctant to try. Turning spent coal ash that is currently considered a BIO HAZARD into a useful cement product would be wonderful for our atmosphere.

 

Ever wondered why the Roman buildings are still standing. Moist lime and volcanic ash (calcium silicate hydrate) is how they made their cement. One part ash to five parts moist lime. I am trying to use fly ash.

 

I need to decide what I am going to use for my aggregate. Currently thinking clay and pigs hair?

 

Then I need to consider my water to cement and aggregate ratio. I am going to contact my local USDA representative for help on this.

 

This is what happens when you work at a farm. You have time to dream. I just need the support by the entire community. Not just with money, but with cooperative ideas and sharing of materials and lending a hand from time to time is not bad.

Edited June 14, 2010 by Luke_Wilbur

[Guest NYSE: GS]

Sure: Dems do nothing but strangle corporate America with their rules and regulations. How dare they interfere with the free market?? Even with the Democratic corporate-regulatory strangle-hold there was still a Wall street super-crisis/scam and a large oil company skirting what little regulations there were to create a catastrophic failure of an apparatus with a "fail-safe" device.

 

Republicans honestly believe a "free-market" system is self-policing?

That's comical.

What makes Republicans so delusional as to think that large corporations care about people: was it Enron or maybe Global Crossing

 

Corporations need to be policed because all they care about is the bottom line which is the bottom line, period, end of story.

 

Anyone who thinks large corporations care about America, its citizens or it's communities needs to step away from the bong for a few days.

 

With Love,

 

Goldman Sachs

 

U.S. Senate Republican Leader Mitch McConnell made the following remarks on the Senate floor Wednesday regarding Democrat efforts to use the oil spill liability trust fund to pay for new, unrelated spending:

 

Our nation faces many urgent crises at the moment. Americans are looking for solutions. They’re not getting any from Washington. Whether it’s the housing crisis, the financial crisis, the debt crisis, or the crisis in the Gulf, what they’re getting is a White House and a Democrat majority in Congress that seems more intent on pursuing a government-driven political agenda than in finding common-sense solutions to the problems that ail us.

 

Americans are exasperated by all this, but they shouldn’t be surprised — because if there’s one motto that defines this administration, it the one that was delivered by the White House chief of staff in a revealing moment just after the President’s election. I’m referring, of course, to what Mr. Emanuel famously referred to as “Rule One: Never allow a crisis go to waste.”

 

It’s a fitting slogan for an administration that saw a crisis at some of America’s great auto-making firms as an opportunity for government to extend its reach into industrial policy; which saw the panic on Wall Street as an opportunity for government to extend its reach further into Main Street; which saw out-of-control costs in health care as an opportunity to extend government’s reach further into the health care decisions of every American; and which is now talking about using a nightmarish environmental calamity in the Gulf as a prime opportunity to extend government’s reach even further into Americans’ lives through a new job-killing national energy tax that would hit every single household and business, small or large, in America.

 

Think about it: for more than fifty straight days, an underwater geyser of oil now roughly the size of Vermont has been polluting the Gulf. This is the kind of crisis that in the past would have united the nation in a focused effort to solve the problem. And yet day after day, as this toxic oil continues to flow, what we get from the administration is some new twist on the blame game or some ham-handed effort to appear in control of the situation.

 

Meanwhile, here in Congress, we’re getting much the same thing: the deficit Extenders Bill that’s now on the floor was supposed to be about giving job creators some assurance that the tax benefits they’re currently receiving, and which they depend on to retain workers will be there the next time they have to make a major business-related decision.

 

Yet Democrats are using this bill as another opportunity to extend government’s reach. Desperate for funds to bail out government programs, they’re raiding a trust fund that was created — get this — to pay for just the kind of cleanup we now need in the Gulf. They’re quintupling the tax oil companies pay into the oil spill liability trust fund that was created in the wake of Exxon Valdez, and instead of using this money to clean up the oil spewing in the Gulf, they’re raiding the trust fund to pay for new, unrelated spending.

 

In other words, they’re using the crisis in the Gulf not only as cover for even more government spending, but as a major source of funding for it. This is an outrage. And it should give every American a window into the Democrat approach to spending as well as their lack of seriousness about the debt; they just can’t restrain themselves. That’s the only possible excuse for raiding this trust fund for unrelated government spending. At the same time, as Americans wonder when this gusher will ever be plugged, we hear word that the administration and the Majority Leader want to piggyback their controversial new national energy tax — also known as “cap-and-trade,” to an oil spill response bill that could and should be an opportunity for true bipartisan cooperation.

 

So here again, we see the administration using a crisis, in this case the disaster in the Gulf, as an opportunity to muscle through Congress another deeply unpopular bill that has profound implications for small business and struggling households. Look: if the health care debate taught us anything, it’s that Americans want these kinds of massive bills debated out in the open — not rushed past them on a holiday or tacked onto a must-pass bill aimed at alleviating the kind of suffering we’re seeing in the Gulf.

 

The problem for Democrats is that debating the Democrat cap-and-trade bill might not fit neatly into the White House messaging plan, since it’s been widely reported that a major part of the Kerry-Lieberman bill was essentially written by BP. This is clearly an inconvenient fact: an administration that seems to spend most of its time coming up with new ways to show how angry it is with BP is pushing a proposal that BP helped write.

 

I can’t understand, and I don’t think the American people will understand, why the Majority believes that it make sense to respond to the BP oil spill by imposing a gas tax increase on the American people that was advocated by – BP. I think the American people want us to work together to address the disaster in the Gulf, not exploit it for partisan political purposes. The oil spill trust fund ought to be used to clean up oil spills. This is one crisis that Americans won’t let Democrats exploit for their policy purposes.

[Guest HUMAN]

Here is one we all missed;

 

http://www.ginniemae.gov/news2010/07-08presshud.pdf

[Guest HUMAN]

http://www.ginniemae.gov/about/about.asp?Section=About

[Guest Fedup]

http://www.ginniemae.gov/about/about.asp?Section=About

 

Whoa Nelly... Here comes Big Insurance.

 

As a result of the credit collapse, Ginnie Mae's mortgage-backed securities (MBS) issuance has risen from approximately $6-7 billion per month in 2006 to more than $30 billion a month currently. At one point, Ginnie Mae's share of the MBS market reached nearly 35 percent . Since the peak of the credit crisis in September 2008, Ginnie Mae's portfolio has grown approximately more than 50 percent. Our outstanding portfolio could reach a trillion dollars before the end of the year. If it weren't for investors' willingness to buy Ginnie Mae securities during the crisis, our nation's housing economy would have suffered far more. Indeed, the nation has relied heavily on Ginnie Mae.

 

Is the American Taxpayer backing a TRILLION dollars????????????????

 

Ginnie Mae neither issues, sells or buys pass-through mortgage-backed securities, nor does it purchase mortgage loans. It simply guarantees (insures) the timely payment of principal and interest from approved issuers (such as mortgage bankers, savings and loans, and commercial banks) of qualifying loans, such as those issued by the FHA and RHA.

 

 

What happens if the mortgage bankers, savings and loans, and commercial banks default on their loans who pays for it.

[Jaybo]

It started with Teddy Roosevelt and continued with George W. and his congress. The current bunch is just kicking the door wide open to what members of both parties have been doing for a century. From a slow death to a quick one.

[Guest human]

More than a trillion, and it's mostly spent already. Question really is, WHERE ARE YOU GOING TO CUT WHEN IT'S ALL SPENT?????????????

 

It's not "here comes big insurance" HERE COMES HELL AND IT'S KNOCKING AT THE DOOR.

 

--------------------------------------------------------------------------------------------

Whoa Nelly... Here comes Big Insurance.

 

 

 

Is the American Taxpayer backing a TRILLION dollars????????????????

 

 

 

 

What happens if the mortgage bankers, savings and loans, and commercial banks default on their loans who pays for it.

[Guest August]

The Dragon is listening.

 

To be honest, I am definitely a little worried. We have loaned huge amounts of money to the United States, so of course, we have to be concerned. We hope the United States honors its word and ensures the safety of Chinese assets. - Chinese Premier Wen Jiabao

[Guest Ron]

The warning signs were there in 2006. Democrats and Republicans did not care.

 

http://www.nytimes.com/2006/10/23/opinion/23iht-edchina.3259616.html

 

The Chinese sell a lot of merchandise in the United States and, in the process, accumulate a lot of dollars. They then loan many of those dollars back to the United States in exchange for all manner of American i.o.u.'s, including Treasury bonds, federal agency bonds, and private-sector debt.

 

America's indebtedness to China, as a result, is staggeringly high, although the Bush administration - which needs foreign loans to help finance the budget deficit - seems unfazed. But there is reason for pause.

[Guest HUMAN]

Okay!! I will bite, Where are those 3.6 million jobs?

 

With an unemployment rate at 9.3% there are alot of folks out here who would LOVE to know where

those jobs are.

------------------------------------------------------------------------------------------------

White House says stimulus plan creating 3.6 million jobs

 

http://news.xinhuanet.com/english2010/business/2010-07/15/c_111955371.htm

[Guest True Cajun]

Check out the Irvine for Congress Video, "Spending Out of Control". It is hilarious.

The Libertarian Party is the Choice for a New Voting Generation.

[Guest HUMAN]

Still waiting for a response as to where those 3.6 million jobs were created, and in what specific categories?

------------------------------------------------------------------------------------------------

 

White House says stimulus plan creating 3.6 million jobs

 

http://news.xinhuanet.com/english2010/business/2010-07/15/c_111955371.htm

[Guest HUMAN]

Still waiting for a response as to where those 3.6 million jobs were created, and in what specific categories?

 

Then with the health care insurance law taxes kicking in next year, it's going to be a rough 2011.

 

I use to hold back on the medical equipment; that even though I am entitled to get, I didn't and paid for it out of pocket because I figured Every little bit helps.

 

But seeing how wild your group is spending in the health care field; "Hey!! you left me impressed as to the level of greed" So with that, I am getting my insurance company to pay for all the things that I use to pay out of pocket for.

 

I finally came to the realization that "Why should I give a Damn when you obviously don't, and you WILL pass it along to the rest of us NO MATTER WHAT", and the rest of us will suffer for your own greed "No thanks".

 

Fannie, and Freddie mac, and Ginnie Mae are NOT included in the Dodd and Barney frank financial Bill.

 

You can pull the wool over most of the American People, but this is One Human.

 

------------------------------------------------------------------------------------------------

 

White House says stimulus plan creating 3.6 million jobs

 

http://news.xinhuanet.com/english2010/business/2010-07/15/c_111955371.htm

[Guest Jones]

I'll throw my hat into the conversation by addressing the original title of this posting by quoting a friend of mine:

 

"... Reagan proved deficits don't matter."

 

~Dick Cheney

[Guest Human]

I don't mind you playing intellectual chess, though you still haven't told me since you are a democrat where those 3.6 million jobs are?

 

What is it supposed to be, A big state Secret?

------------------------------------------------------------------------------------------------

 

I'll throw my hat into the conversation by addressing the original title of this posting by quoting a friend of mine:

 

"... Reagan proved deficits don't matter."

 

~Dick Cheney

[Guest LAW]

The President's Council of Economic Advisors estimated that the American Reinvestment and Recovery Act would save or create 3.5 million jobs as of 2010.

 

 

[Guest turn left]

Creating a foundation of investment for economic growth that does not depend on bubble-and-bust economies is going to take a long time to do. The Recovery Act was intended to spur economic growth, invest in the industries that we know can create jobs and create the jobs of tomorrow. A good example of the President's leadership is how he saved the auto industry. We can thank the president for the tens of thousands of auto jobs, auto manufacturing jobs, auto dealership jobs, and auto parts manufacturing jobs that exist today.

 

It is sad that the Republicans played politics with the unemployment benefits of people that have lost their jobs and are in an economy where there are five job applicants for every opening.

[Guest Augustine]

Wake Up People.

 

People live in a dream where the country will bounce back to where it once was after World War II.

 

China, Japan, Europe, and Russia were in total economic ruins.

 

The only industrial country standing was the United States. We had no competition.

 

Industries were built, goods and services were sold, and economic prosperity fueled the American Dream.

 

At this point of history there was a balance between the Unions and Industry Owners.

 

There was so much money to be made that it did not matter.

 

Slowly industries around the world started to get established and became competitive with American industry.

 

At the same time Environmental and Safety standards were put into place. Unions became powerful organizations that expected greater profits from their industry management.

 

Competing countries saw an opportunity to entice owners to move from the United States to a more profitable environment. Profits became smaller. Expenses became greater.

 

First the Manufacturing industry started to move. Then the Service sector. And finally the Energy sector.

 

With the industries slowly moved the wealth. The United States became more reliant on credit to maintain the American dream. We tore down economic trade barriers, deregulated industries, and started downsizing our work force. Rising oil prices were subsidized by our government in return for policing the world against our interests.

 

With deregulation industry owners were able to purchase credible news sources and filter out the true economic situation to the public. Americans lived under the illusion that the Dream was alive and well.

 

Wall Street looked blindly to maintaining the American Dream and starting building the World Dream of global prosperity. They sliced and diced every asset our country had to offer in schemes so complicated that they could not be figured out until it was too late. Profits soared with no end in sight.

 

Outside industries wanted a piece of the action. They forfeited their business models and became creditors. Industries made sure to fund campaigns of public servants that followed their profit line.

 

In the rubble of the crash these industry leaders were given a slap of the wrist. Working class Americans were left with a huge bill to pay for their mistakes.

 

The question really is whether Obama is the agent of change everyone believed in. Is the taxpayer money his administration has spent in the Recovery Act been used correctly to jump start the economy? Was it wise to put the lion's share to build a clean energy industry?

 

In the end it will comeback to the taxpayers who are also the consumers. They will decide whether an Asian manufactured Hybrid will be more cost effective than an American model.

 

Does "Made in America" really mean anything? That will be for history to decide.

[Guest Tom Bushman]

Would we be better off with fewer, more expensive American made goods, but more manufacturing jobs? I think not.

[Guest BlingBling]

I can assure you we would be better off if Republicans supported small business lending. Then again they are just puppets for big business. We found that out when they apologized to BP for our government forcing them to pay for their environmental catastrophe.

 

Remember this during the next election.