The Final Minority Report

Because Even Minorities Oppose Liberalism & Statism

Obama, the Budget, and Circumventing the Process

You’ve got that right! Thank goodness for Obama!

Without him, the national deficit is going down…oh wait, it’s not. http://gatewaypundit.blogspot.com/2009/03/10-tax-spend-facts-for-tax-day-tea.html#links

But hey. At least Congress has NOT spent (pledged prior to today’s budget) more money in the past 70 days then the country’s GDP of the entire last year…oh wait, they have. http://www.bloomberg.com/apps/news?pid=20601087&sid=armOzfkwtCA4&refer=home

At least Obama and Congress followed the procedural rules when passing a budget. Oh wait, they circumvented the process through the “reconcilliation” process. http://online.wsj.com/article/SB123871911466984927.html

04/04/2009 Posted by | Government Debt, Obama Budget, Obey Obama, Redistribution of Wealth | | Leave a comment

US Forever in Debt – End Game

Below sums it all up pretty well.

BUSH DEFICIT VS. OBAMA DEFICIT IN PICTURES.

http://gatewaypundit.blogspot.com/2009/03/10-tax-spend-facts-for-tax-day-tea.html#links

According to Heritage, Obama will quadruple the deficit this year.

But when a Republican is President,running up deficits is “unpatriotic”:

Obama’s trillions dwarf Bush’s ‘dangerous’ spending
By Byron York
Chief political correspondent 2/24/09

http://www.dcexaminer.com/politics/Obamas-trillions-dwarf-Bushs-dangerous-spending.html

Pelosi and Reid called Bush’s budgets “dangerous” and “unpatriotic,” but with Obama, they’ve changed their tune.

Back in 2006, when Democrats were hoping to win control of the House and Senate, party leaders worked themselves into a righteous outrage over the issue of out-of-control federal spending. Rep. Nancy Pelosi, D-Calif., called the Republican budget “irresponsible” and “unpatriotic” because it increased the amount of U.S. debt held by foreign countries. Sen. Harry Reid, D-Nev., accused Republicans of going on “an unprecedented and dangerous borrowing spree” and declared GOP leadership “the most fiscally irresponsible in the history of our country … no other president or Congress even comes close.”

Good thing we had those super smart democrats to tell everybody how terrible and dangerous deficits are for America and the burden it will put on our future generations.

OHH…..wait…..deficits.
Hey no problem baby, deficits are “beneficial” now:

White House Budget Director Orszag: “Elevated Deficits Are Beneficial”

“During an economic downturn like we’re experiencing the deficit gets elevated which is not only natural, it’s beneficial because it helps bring the economy back up to the potential output level. In other words, the key problem we face right now is the gap between how much the economy could produce and how much it is producing. The whole point of the Recovery Act is to fill in that gap and part of that means a temporary elevated deficit.”
Peter Orszag
White House Budget Director
February 26, 2009

Yea baby!!!
democrats go from deficits being “unpatriotic and dangerous” to “beneficial and necessary”.

But no,wait.
It’s all Bush’s fault.480 billion deficit combined with the 700 billion Tarp (that democrats said we had to have) is the
real problem:

Reporter’s question to Orszag:

a related question, you know, when you all unveiled this budget you talked a lot about fiscal responsibility, and the end result is spiraling debt, basically. And I’m wondering if you see this task force as a means to begin to address that.

MR. ORSZAG: Well, let me answer that second question first. Again, I don’t know what spiraling debt you’re referring to, but we’re inheriting a budget situation that is a mess, and that we’re working our way out of.

“WHAT SPIRALING DEBT ARE YOU TALKING ABOUT?!!!!”

Somehow quadrupling the debt is “beneficial” and not “spiraling debt”, but Bush’s less than 25% of this debt is “inheriting a budget that is a mess”.

This is why liberals are always having to announce how “intelligent” they are because it does not show.

This economy is 100% Obama’s and the democrats now.
Their spending and deficits dwarf anything from our previous Presidents combined.

04/03/2009 Posted by | Government Debt, Liberal Business, Obama Budget, Obey Obama, Polls, Populism, Pork, Redistribution of Wealth | 3 Comments

Budget, Deficit Call for $100,000 in Taxes for Workers Earning $150,000

So after hope-and-change, we really are going to be stuck with just change, aren’t we?

Taxes = Involuntary Servitude

The claim to reduce the deficit by half compares this year’s immense (mostly inherited) deficit to the projected fiscal year 2013 deficit, the last of his current term. While it is technically correct that the deficit would be less than half this year’s engorged level, a do-nothing budget would reduce it by 84%. Compared to do-nothing, Mr. Obama’s deficit is more than two and a half times larger in fiscal year 2013. Just his addition to the budget deficit, $459 billion, is bigger than any deficit in the nation’s history. And the 2013 deficit is supposed to be after several years of economic recovery, funds are being returned from the financial bailouts, and we are out of Iraq.

Finally, what of the claim not to raise taxes on anyone earning less than $250,000 a year? Even ignoring his large energy taxes, Mr. Obama must reconcile his arithmetic. Every dollar of debt he runs up means that future taxes must be $1 higher in present-value terms. Mr. Obama is going to leave a discounted present-value legacy of $6.5 trillion of additional future taxes, unless he dramatically cuts spending. (With interest the future tax hikes would be much larger later on.) Call it a stealth tax increase or ticking tax time-bomb.

AND is there support for such massive spending?

CNN and the Huffington Post dutifully reported the DNC’s claim of 642,000 pledges. Network cameras and the BBC showed up to film the operation. “We had one of the big printers downstairs smoking last night,” party spokesman Brad Woodhouse said.

In fact, the canvassing of Obama’s vaunted e-mail list of 13 million people resulted in just 114,000 pledges — a response rate of less than 1 percent. Workers gathered 100,000 more from street canvassing. The DNC got to 642,000 by making three photocopies of each pledge so that each signer’s senators and representative could get one.

Oh well. I guess he can always threaten voters just like he threatens bankers.

But President Barack Obama wasn’t in a mood to hear them out. He stopped the conversation, and offered a blunt reminder of the public’s reaction to such explanations. “Be careful how you make those statements, gentlemen. The public isn’t buying that.”

My administration,” the president added, “is the only thing between you and the pitchforks.”

The alternative option is to just follow the NYT and the love for Nazi-economics.

In the summer of 1933, just as they will do on Thursday, heads of government and their finance ministers met in London to talk about a global economic crisis. They accomplished little and went home to battle the crisis in their own ways.

More than any other country, Germany — Nazi Germany — then set out on a serious stimulus program. The government built up the military, expanded the autobahn, put up stadiums for the 1936 Berlin Olympics and built monuments to the Nazi Party across Munich and Berlin.

The economic benefits of this vast works program never flowed to most workers, because fascism doesn’t look kindly on collective bargaining. But Germany did escape the Great Depression faster than other countries. Corporate profits boomed, and unemployment sank (and not because of slave labor, which didn’t become widespread until later).

What author David Leonhardt leaves out is one little tiny uncomfortable fact: Hitler’s plans required wars of global conquest no later than 1942-43 (that he got a global war in 1939 was an accident; he thought the Allies wouldn’t fight). Because after eight or nine years of Obamanomics Nazinomics, Germany was going to be out of money. Totally out of money.

04/03/2009 Posted by | Government Debt, Obama Budget, Obey Obama, Redistribution of Wealth, Useful Idiots | , , | Leave a comment

Letter to my Congressman

Congressman Lacy Clay represents my district. He’s never responded fully to a question. However, I consistently bug his office about federal government spending. The same goes to Claire McCaskill (but I do substitute the appropriate words to directly address her).
Here’s the latest question

Dear Congressman Clay,

As a long-time Missouri, and a first generation Mexican-American, I had two questions concerning the stimulus plan earlier this year and the upcoming votes on the Federal Budget.

(1) How does passage of the stimulus bill in February, which OVERTURNED Clinton’s welfare reform provisions of the mid-1990s, benefit St. Louis taxpayers?

http://www.slate.com/blogs/blogs/kausfiles/archive/2009/02/11/turning-over-the-rock.aspx

(2) How does the government’s pledge to spend more money this year (in terms of the stimulus package and the federal budget) than what the entire US GDP output was last year benefit St. Louis taxpayers?

http://www.bloomberg.com/apps/news?pid=20601087&sid=armOzfkwtCA4&refer=home

PLEASE give an actual response. Your office has never returned this constituent’s questions about federal government spending.

Sincerely,
A St. Louis (and Federal) Taxpayer

04/03/2009 Posted by | Obama - Housing Bill, Obama - Spending Bills, Obama - Stimulus Bill, Obey Obama, Redistribution of Wealth, tax cheats, Useful Idiots | Leave a comment

Tax-Cheating Treasurer Wants to Run Your Business

We have a man who has never run a for-profit company, who cannot even fill out his own income tax properly, now firing the heads of large manufacturing firms.

On top of that, Congress wants to limit “excessive spending.” Hmm…which business or entity has blown (pledged) enough money in the past 70 days to equal that of the US GDP? (see previous posts). How about we have Congress set an example first and allow TAXPAYERS to set their pay grade and perks (like free unlimited health care and travel).

04/02/2009 Posted by | Capping Pay, Government Debt, Liberal Business, Obama - Domestic Policy, Obama - Housing Bill, Obama - Spending Bills, Obama - Stimulus Bill, Obey Obama, Populism, Pork, Redistribution of Wealth | Leave a comment

Will the Media Treat Biden like they did with Palin?

I don’t think so.

So, you think it’s unfair to criticize Joe Biden for the actions of his daughter. And you could be right. But did you say the same thing about Bristol Palin? Her pregnancy was supposed to prove something bad about her mom’s advocacy of abstinence education. (Even though Sarah Palin also advocates teaching birth control, which somehow always gets left out of such arguments.) Her private, personal decisions have been strewn all over the media landscape. She’s been torn apart everywhere from Good Morning America to Saturday Night Live. And what she did isn’t even illegal.

If Bristol Palin’s actions reflect badly on her mom, why don’t Ashley Biden’s actions reflect badly on her dad?

Oh, and let’s not forget another acquaintance of Joe’s who was known to snort a line or two in his time. You now know him as Mr. President.

04/01/2009 Posted by | Obey Obama, Populism, Tolerant Liberals | Leave a comment

Contrary to Reality, Voters Think Obama is Careful w/ Public Money

The old Revolutionary War slogan was “no taxation without representation.”
Why not make “no taxation, no representation”? In other words, if you do not pay state taxes, you don’t get to vote in state elections. If you don’t pay federal taxes, you don’t get to vote for federal elections. Why does this matter? Because the type of people who are currently running our government have spent this money money (below) [i.e., I’m betting people who actually pay taxes are more likely to be more careful about who they vote for and how that person/party will spend their money than those that do not. Not a hard and fast fact. Just an idea].

The U.S. government and the Federal Reserve have spent, lent or committed $12.8 trillion, an amount that approaches the value of everything produced in the country last year, to stem the longest recession since the 1930s.

New pledges from the Fed, the Treasury Department and the Federal Deposit Insurance Corp. include $1 trillion for the Public-Private Investment Program, designed to help investors buy distressed loans and other assets from U.S. banks. The money works out to $42,105 for every man, woman and child in the U.S. and 14 times the $899.8 billion of currency in circulation. The nation’s gross domestic product was $14.2 trillion in 2008.

The following table details how the Fed and the government have committed the money on behalf of American taxpayers over the past 20 months, according to data compiled by Bloomberg.

===========================================================
— Amounts (Billions)—
Limit Current
===========================================================
Total $12,798.14 $4,169.71
———————————————————–
Federal Reserve Total $7,765.64 $1,678.71
Primary Credit Discount $110.74 $61.31
Secondary Credit $0.19 $1.00
Primary dealer and others $147.00 $20.18
ABCP Liquidity $152.11 $6.85
AIG Credit $60.00 $43.19
Net Portfolio CP Funding $1,800.00 $241.31
Maiden Lane (Bear Stearns) $29.50 $28.82
Maiden Lane II (AIG) $22.50 $18.54
Maiden Lane III (AIG) $30.00 $24.04
Term Securities Lending $250.00 $88.55
Term Auction Facility $900.00 $468.59
Securities lending overnight $10.00 $4.41
Term Asset-Backed Loan Facility $900.00 $4.71
Currency Swaps/Other Assets $606.00 $377.87
MMIFF $540.00 $0.00
GSE Debt Purchases $600.00 $50.39
GSE Mortgage-Backed Securities $1,000.00 $236.16
Citigroup Bailout Fed Portion $220.40 $0.00
Bank of America Bailout $87.20 $0.00
Commitment to Buy Treasuries $300.00 $7.50
———————————————————–
FDIC Total $2,038.50 $357.50
Public-Private Investment* $500.00 0.00
FDIC Liquidity Guarantees $1,400.00 $316.50
GE $126.00 $41.00
Citigroup Bailout FDIC $10.00 $0.00
Bank of America Bailout FDIC $2.50 $0.00
———————————————————–
Treasury Total $2,694.00 $1,833.50
TARP $700.00 $599.50
Tax Break for Banks $29.00 $29.00
Stimulus Package (Bush) $168.00 $168.00
Stimulus II (Obama) $787.00 $787.00
Treasury Exchange Stabilization $50.00 $50.00
Student Loan Purchases $60.00 $0.00
Support for Fannie/Freddie $400.00 $200.00
Line of Credit for FDIC* $500.00 $0.00
———————————————————–
HUD Total $300.00 $300.00
Hope for Homeowners FHA $300.00 $300.00
———————————————————–
The FDIC’s commitment to guarantee lending under the
Legacy Loan Program and the Legacy Asset Program includes a $500
billion line of credit from the U.S. Treasury.

AND YET, voters still believe that Obama is being “careful with public money.”

04/01/2009 Posted by | Obama - Domestic Policy, Obama - Housing Bill, Obama - Spending Bills, Obama - Stimulus Bill, Obey Obama | | 1 Comment

“OBEY ME” – Obama Says to Banks, Free Market Economy

Ever seen the 2008 Obama campaign posters that tell you to OBEY Obama?

Guess they weren’t kidding!

Sunday, March 29, 2009
Obama’s “Industrialists”
There is something more than a little unsettling when a government and industry collaborate. Government is all about political power … and the use of force against those who refuse to cooperate. Industry is all about economic activity and, in free societies; it is closer to the individual. Business, after all, provides most of us our jobs, our income, our career paths. When business and government combine they form effectively fascist societies; combining the economic power or industry with the coercive power of the state.

Obama invited the heads of the major US banks to a meeting in the White House recently, and they came. They had no choice; the government is either a majority or minority stakeholders in their companies.

Beyond the banks, the Obama government is demanding the power to seize all non-bank companies that could, in its sole opinion, damage the economy. Keep in mind that the government already has the power to seize banks via the FDIC. By defining the seizure power to “non-banks” the government is literally asking for power to seize ANY company. Tim Geithner’s rationale is that this power could have prevented the AIG problem. But it is not at all clear how the government could have prevented AIG from imploding when it failed to do so with Fannie Mae and Freddie Mac, two quasi governmental organizations over which the government had oversight. And the power that the government is demanding in it’s power to seize “non-banks” is not limited to AIG-like corporations. Based on Geithner’s testimony, the power the government is demanding will give it the power to seize General Electric, General Motors, Boeing, Exxon and any other major corporation.

The concerns about this seizure of power by government are not theoretical. Historians, especially historians of the Left are constantly reminding us that Hitler had the support of German “industrialists.” Here is the testimony of those industrialists and their co option by the Nazi regime.

*
Leaders of industry are invited to the capital and given a speech by the head of government. Check.
*
Leaders of industry were warned of the dangers to the country if not properly addressed. Check.
*
Leaders of industry praise the wise measures taken by the government to meet the threat. Check.
*
Leaders of industry pledge overwhelming support of government aims. Check
*
Leaders of industry lead their enterprises for no compensation. Well, is $1 a year close enough?
*
Industry that does not cooperate can be seized on the pretext that is is a threat to the economy. Working on that.

Have we had our Reichstag fire yet?

03/29/2009 Posted by | Obey Obama | | Leave a comment