A Lesson on Obamonomics
Since 20 January 2009, our beloved President has been trying to shove down our throats a very strange and detrimental idea of economics.
It can be said that it started as early as September 2008 with President Bush still in office. I’ve been against the idea of bailing out banks and Wall Street with our hard-earned money from the get-go. TARP was a very bad idea. We are not obligated in any way to bail out those entities who made inappropriate decisions in trying to make a buck. Under threat from the federal government, they also inappropriately put people into properties they had absolutely no business in taking on or couldn’t afford. Now, those financial institutions are going belly up because of their own stupidity, not mine.
The current housing bubble burst can be traced as far back as 1999 when President Bill Clinton signed a fair housing act into law. That law should never have seen the light of day. I’m so sick of these mortgage advertisements on the radio. One particular local advertisement features a man with a loud southern accent (some may say he’s a squeaky voice).
Now in 2010, Obama and his cohorts are wanting to pass another stimulus! What in the world was that $800+ billion atrocity he was bawling about in 2009 for? Where are those jobs this administration “saved” or “created?” There are none!
One example of the American Recovery and Reinvestment Act of 2009 is the widening project of U.S. Highway 69 just north and south of Interstate 435 in Overland Park. Yes, that section of highway was in disarray for years, but it has not affected the economy of the Kansas City metropolitan area one bit!
Another example affects me personally. Until recently, one of my relatives worked for a Kansas government department. Stimulus funds were used to help people with assistance in certain situations. It was said that one attorney hired/contracted by the State of Kansas fouled up on a contract considering how to appropriately fund assistance programs for those aforementioned people. This attorney foul-up made the state of Kansas liable for those hundred of thousands of dollars from ARRA.
To help pay that back, this department for whatever reason decided to freeze wages and salaries for its employees for three years. In addition to that, this department was asking for voluntary pay cuts.
Last month, she attended a seminar in the Kansas City area on Martin Luther King, Jr. The presenter asked the audience if they were doing work for the devil or felt they were doing stuff for the devil. She was told by her friend that it was rumored that the Pope refuses to go through Topeka’s airspace because its ZIP codes start with 666 (e.g. 66611 for a section of northeastern Topeka).
That was it for my relative. She quickly cleaned out her desk and quit. She does not regret that decision. As I speak, she may already have a better job locally in Kansas City, Kansas instead of far in Topeka.
So, this so-called stimulus has cost jobs. Not created or saved. Those “created” or “saved” numbers do not add up to a hill of beans. Because of all this waste, this administration is reducing the U.S. Dollar to no more than Monopoly play money!
For me, November 2010 is fast approaching and I cannot wait for 2012, because we need to clean house promptly! Those who are running better wise up because we Americans have had it with the reckless government spending, the shredding of our livelihoods, and the shredding of our Constitution!
1 Comment
Hank Paulson was instrumental in turning Goldman Sach’s into a public company. Suprisingly he only let Lehman fail, and watched as Bear Stearns disappeared in the blink of an eye. However, when Goldman Sach’s could go down, the Treasury under the leadership of Hank Paulson rushes in to save the day. Wall Street is cutting off their noses to spite their faces. Wall Street can pay themselves all US dollars in the world, but once they bankrupt the country they will be in the same boat as the rest of America.