As congress contemplates yet another socialist program (Home Owner Bailout #2), some of us have to wonder how, if at all, this administration is thinking. With another do-for-naught stimulus package in the wind, the question is almost answered.
Like any crack addict, heroin addict, gambling addict, alcoholic or addict of any type, this government is out of control and will do anything…anything to continue with the habit that it has. That habit is spending. It doesn’t matter what the problem is, or even if there is a real problem; the answer is more spending.
We were told that we would have to sacrifice. We were told that we would have to cut back on the lavish spending in our daily lives. For the Obama’s, however, not so much. They continue to enjoy Wednesday evening concerts and expensive vacations at a cost only to the American taxpayer. It’s the exemplification of the wealth redistribution the president promised. Take from us to meet their personal desires. It may not be the way it was described in campaign speeches, but then what is at this point.
Obama and clan have now obligated somewhere between three and four generations earnings to bailing out their cronies in powerful positions.
- They have spent money on “Cash for Clunkers” which elevated auto sales only for the length of time the program was available. Sales returned to sub-normal levels for the immediate three months following. That suggested that people who were ready to buy a car, and possibly would have within 90 days, took advantage of the subsidized pricing.
- They have subsidized mortgages for people who should not have had mortgages in the first place. The people, like the Wall Street and insurance company executives, gambled that the good times would continue to roll and lost. Many of the homeowners were allowed to borrow up to 103% of the appraised value of their home because they could not afford a down payment; they had no vested interest in ownership.
- In each and every bill that is passed by congress and signed by the president, there is more wasteful spending than most individuals can even imagine. How well could you live on the accounted and accepted 10% shrinkage due to loss, theft, mismanagement and misappropriation that goes with a $1billion bill? For those of you who don’t have a calculator handy, that would be One Million Dollars. Now consider the last $787 billion Pork Laden Package (aka the Stimulus Bill). That bill has had negligible affect on jobs or the economy, both of which are still headed in negative directions.
- The Universal Health Care bill was sold to about eight people of the nation as saving money on health care premiums. The rest of the nation recognized that there was no way it was going to benefit individuals financially or provide better health care. It is now known that with the passage of this bill the premiums will be higher, co-pay higher, service reduced and waiting times to see a doctor will be significantly extended. Medicare (senior care) will take a $529 billion hit to offset some of the costs of the new program. That is only taking money out of one pocket and putting it in another. It does nothing for reducing the cost. Youth wins more substandard care until they reach maturity.
- The last homeowner mortgage bailout worked so well (many people lost their homes waiting for a refinance decision because they were told not to make any payments, proving they needed the assistance), that the administration is going to try it again. They will buy down the loans on homes that are “under water”. Using borrowed money that will have to be paid back by your children and grandchildren (and perhaps their children and grandchildren, too), the new plan is to buy down the current mortgage to the market value of the home. The government then owns the mortgage. Read that as the government owns your home and can take it at the snap of their fingers should you default.
When you’re out of work, out of savings and your unemployment ends your only choice is to live off your credit cards until they are maxed. At that time your choices become bankruptcy or sell off all your assets and live at subsistence level until the sheriff comes to take you away.
A crack addict will do or say anything; he will steal anything value from anybody to support the habit. When a crack addict runs out of things to steal and has no more money, their life ends. That is not unlike what Obama and his dastardly crew have in mind for the nation. And their plan is working well.