Showing posts with label Stimulus Bill. Show all posts
Showing posts with label Stimulus Bill. Show all posts

Saturday, August 21, 2010

People Have Noticed ... Alan Caruba

People Have Noticed
By Alan Caruba
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"Apres moi le deluge”, “After me, the flood” and though attributed to the French King Louis XV, historians believe it was actually said by Jeanne Poisson, Madame de Pompadour. The last members of the monarchy spent France into the poorhouse until they had their heads separated from their bodies via the guillotine.

People have noticed the same eerie disconnect from the suffering of the populace as Barack and Michelle Obama party on. There has been a succession of vacations topped off by Michelle in Spain on the U.S. dime. Keeping track of the vacations, about seventeen this year, has become a media pastime.

Twenty months into his first and last term, President Obama, has wasted a trillion dollars we didn’t have on a stimulus package that was little more than a wish list of pet projects for Democrat congressmen and bailouts of the teacher’s unions whose members would otherwise have to join the long lines at the unemployment office.

People noticed.

Obama has had notably little success in foreign affairs, failing to draw the line with the Russians on issues of defensive missiles in Europe, managing to insult the British in a dozen ways, and being mocked by the Iranian leaders as they get ready to fire up a nuclear reactor.

People noticed.

When he finally decided what to do in Afghanistan, he made the announcement at West Point, including a date when the new infusion of troops would leave. The cadets slept through the speech and the Taliban circled their calendar for 2011.

People noticed.

Barely in office a day, he was all for closing down Guantanamo until he learned there was no place for the detainees. The states did not want them in their prisons and foreign nations did not want them for any reason. When his Attorney General wanted to try the mastermind of 9/11 in New York City the outcry was deafening.

People noticed.

Many of those he wanted to appoint to his administration turned out to be tax cheats or had to withdraw due to charges of unethical behavior or corruption. Despite a pledge to drive out the lobbyists, a number of appointees were lobbyists. A whole slew of “czars” turned out to include a number of loonies who were either outright communists or who believed weird science theories.

People noticed.

Despite widespread, vocal opposition, Obamacare was forced upon an unwilling America and now we are learning it will increase costs and deny care, just as we knew it would.

People noticed.

Bush had his Katrina, but Obama had the Gulf of Mexico oil leak. His administration mismanaged it beyond belief and then he arbitrarily shut down oil production from other rigs, adding more people to the unemployment lines.

People noticed.

Obama used the occasion of a Ramadan dinner at the White House to wade into the controversy regarding a plan to build a mosque within two blocks of where 3,000 Americans died from an Islamic terrorist attack. Then he had to back off what he said.

People noticed.

Obama appointed two women to the Supreme Court, both of whom think the Constitution was written on silly putty. One had never been a judge.

People noticed.

Muslim murder at Fort Hood, a failed Christmas bomber on a commercial jet, and another failed bomber in Times Square. The response to all three incidents was slow and very, very politically correct, tip-toeing around using the word “Muslim.”

People noticed.

Rather than take dramatic action to stem the flood of illegal aliens along the southern border, the Obama administration brought a suit against Arizona at the same time twenty other states are writing and passing similar legislation to enforce immigration laws. Then they threatened Sheriff Joe Arpaio with a legal suit charging that he was anti-Hispanic!

People noticed.

Along the way the Tea Party movement occurred and Nancy Pelosi called them Nazis. Harry Reid became even creepier than anyone could imagine. The voters elected Republican governors in Virginia and New Jersey, and a Republican Senator to fill Teddy Kennedy’s vacant seat.

People noticed.

On November 2nd, the voters will go to the polls for a midterm election and the odds are that many Democrats will just stay home while the independents and Republicans will turn out in huge numbers.

The power in Congress will shift, perhaps dramatically, because people noticed.

© Alan Caruba, 2010
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Alan Caruba's commentaries are posted daily at "Warning Signs" his popular blog and thereafter on dozens of other websites and blogs. If you love to read, visit his monthly report on new books at Bookviews. To visit his Facebook page, click here For information on his professional skills, Caruba.com is the place to visit.

Friday, January 30, 2009

Hey Kids, it's a Depression ... by Alan Caruba

Hey Kids, it’s a Depression
By Alan Caruba
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Here’s the difference between a recession and a depression as defined by Bloomberg Business News:A recession occurs when a nation’s living standards drop and prices increase. This downturn in economic activity is widely defined as a decline in a country’s gross domestic product for at least two quarters.

A depression is defined as an economic condition caused by a massive decrease in business activity, falling prices, reduced purchasing power, excess of supply over demand, and rising unemployment.If this isn’t the beginning of a depression, it sure feels like one. Just check the daily headlines. On Monday, the Financial Times informed readers that “Gloom deepens as 75,000 global jobs go.” Among the companies laying off people were Caterpillar, General Motors, Sprint Nextel, Home Depot, Pfizer, and Texas Instruments. My guess is the General Motors declares bankruptcy by March.

The Financial Times still called it a recession, but we know what it is, don’t we? And if we just look at the 1930s and see how every move the administration of Franklin Delano Roosevelt made only deepened and prolonged the Great Depression, we will also see what should be done, but won’t be done. Indeed, with every passing day, the Obama administration looks and sounds just like FDR’s.

As to the stimulus bill, here’s what last Monday’s Wall Street Journal had to say about it:
“The stimulus bill currently steaming through Congress looks like a legislative freight train, but given last week's analysis by the Congressional Budget Office, it is more accurate to think of it as a time machine. That may be the only way to explain how spending on public works in 2011 and beyond will help the economy today."

According to Congressional Budget Office estimates, a mere $26 billion of the House stimulus bill's $355 billion in new spending would actually be spent in the current fiscal year, and just $110 billion would be spent by the end of 2010. This is highly embarrassing given that Congress's justification for passing this bill so urgently is to help the economy right now, if not sooner.”

Much, if not most, of the proposed $825 billion “recovery act” will go to various government agencies. Even a cursory review of the 600-plus page document suggests that not much of its billions will create private sector jobs. Those portions devoted to infrastructure projects are not only worthy, but polls indicate are greatly favored by the public. By contrast, the bill includes nutty energy stuff about solar and wind farms, neither of which can produce enough steady, dependable energy to keep the lights on anywhere.

Contrary to the madness that has gripped most of Congress, government spending should be cut. There is enormous waste in government at almost every level except the local level that must answer to people directly.

There should be major cuts in the tax rates from the wealthy to the lowest paid job holders. Putting money back in the hands of people will shorten the duration of the depression by stimulating purchasing, investment, and the risks involved in beginning or expanding a business of any size.

There should be a marked reduction in government regulation of all manner of business and industry in order to avoid increasing the cost of production and facilitate research and innovation

NONE of these options, proven, known, effective, are being discussed by the Obama administration that, in office less than two weeks, is issuing executive orders that will increase the cost of manufacturing cars in the name of fighting “global warming” or “climate change.”Apparently word has not reached the White House that it just snowed in a Middle Eastern desert nation, the United Arab Emirates, for the first time ever! That the world outside (and including) Washington, D.C. is experiencing some serious cold weather.

It’s so cold in D.C. that Al Gore’s Wednesday testimony to the Senate Foreign Relations Committee that the Earth is warming will likely be rescheduled.

While there is talk of tax cuts, it remains just that, talk.

Meanwhile things are going to hell in a hand-basket, so maybe it would be a good idea to (1) pay attention to the history and lessons of the Great Depression, (2) avoid repeating the same mistakes, and (3) not take your eye off the ball here at home with talk of finding a Mideast peace where none has not existed since the days of Harry Truman and, for that matter, all previous presidents.

The folks in Washington, D.C., being politicians, are all delusional and guess who’s going to pay the price for that? Phone, fax, email your Senators and Representative, and tell them to put the Recovery Act back on the shelf.

Alan Caruba writes a daily blog at http://factsnotfantasy.blogspot.com. Every week, he posts a column on the website of The National Anxiety Center, www.anxietycenter.com.



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