President Obama, Talking Crap – Andrew Klavan
“HE MIGHT HAVE A SILVER TONGUE, BUT THAT DOESN’T MEAN PRESIDENT OBAMA IS NOT TALKING CRAP. IN FACT, THE CRAP TALKED BY BARACK OBAMA IS SOME OF THE MOST CRAPTASTIC CRAP TALK A CRAP TALKERS EVER TALKED.”
PRESIDENT OBAMA, TALKING CRAP – Andrew Klavan
What’s in a number?
Here is a look at what’s in a number: what’s a trillion? The CBO estimates that the deficit for 2009 will be driven to almost 2 trillion dollars. Quite an achievement for President Obama in just 6 months!
He has control of the banks, two car companies – and now he wants your healthcare.
Obama vs Obama on the Stimulus
The real reason behind the economic meltdown – government (particularly Democrats)
What was the real reason behind the economic meltdown? Government – particularly the Democrats. Policy starting from the Clinton administration by “powerful Democrats in Congress insisted that government-subsidized housing be geared to serve the purposes of social justice at the expense of sound lending.”
They used Fannie Mae and Freddie Mac with a line of credit from the U.S. Treasury and much lower capital requirements to squeeze out the competition. The Democrat’s manipulation of market forces produced the economic meltdown that aided the election of Democrat Barack Obama.
IBD – Behind The Meltdown: Many Americans are unaware of the causes of the greatest economic calamity of our lifetime. A new congressional report details how government politicized housing, wrecking the economy.
Rep. Darrell Issa of California, ranking Republican on the House Oversight and Government Reform Committee, has released a report that every American should read.
The analysis details how powerful Democrats in Congress insisted that government-subsidized housing be geared to serve the purposes of social justice at the expense of sound lending.
Here are some highlights of Issa’s blow-by-blow account:
• With an implicit subsidy to American homeowners in the form of reduced mortgage rates, Fannie Mae and its sister government sponsored enterprise, Freddie Mac, squeezed out their competition and cornered the secondary mortgage market. They took advantage of a $2.25 billion line of credit from the U.S. Treasury.
• Congress, by statute, allowed them to operate with much lower capital requirements than private-sector competitors. They “used their congressionally-granted advantages to leverage themselves in excess of 70-to-1.”
• The two GSEs were the only publicly traded corporations exempt from SEC oversight. All their securities carried an implicit AAA rating regardless of the quality of the mortgages.
• The Department of Housing and Urban Development set quotas for GSE investment in affordable housing.
• Encouraged by an inaccurate 1992 Boston Federal Reserve Bank study charging racial discrimination in mortgage lending, the two GSEs were strongly pressured to “lower their underwriting standards, particularly on the size of down payments and the credit quality of borrowers.”
• In 1992, Congress directed HUD to establish multiple quotas requiring mortgage quotes for low-income families.
• In 1995, the Clinton administration issued a National Homeownership Strategy, loosening Fannie and Freddie’s lending standards and insisting that lenders “work collaboratively to reduce homebuyer downpayment requirements.”
• The administration complained that in 1989 only 7% of mortgages had less than a 10% downpayment. By 1994, it wanted that raised to 29%.
• Reduced underwriting standards spread into the entire U.S. mortgage market to those at all income levels.
• A complete decoupling of home prices from Americans’ income fed the growth of the housing bubble as borrowers made smaller down payments and took on higher debt.
• Wall Street firms specializing “in packaging and investing in the lowest-quality tranches of mortgage-backed securities, profited hugely from the increased volume that government affordable lending policies sparked.”
• Wall Street firms, homebuilders and the GSEs used money, power and influence to block attempts at reform. Between 1998 and 2008, Fannie and Freddie spent over $176 million on lobbyists.
• In 2006, Freddie paid the largest fine in Federal Election Commission history for improperly using corporate resources to hold 85 fundraisers for congressmen, raising a total of $1.7 million.
This type of government manipulation of the housing market is a precursor of what Obamacare will do to health care – using the weight of the State to force out private competition. Do we want the same folks who blew up the housing market do the same thing to our personal health care?
More Articles
Video: No, you can’t just ram Obamacare through “fast” By Michelle Malkin
GM will lay off more workers after buyout falls short by Ed Morrissey
The President’s Accidental Gift on Race by Andrew Breitbart
The OMB-CBO throwdown by Ed Morrissey
Culture of Corruption: Czars of the Obama Underworld By Michelle Malkin
The Barack and Joe Variety Show by John Romano
Rasmussen: Obama’s presser backfired by Ed Morrissey
Dallas Tea Party activists outflank MoveOn at Obamacare protest By Michelle Malkin
The Matter With Myths By Philip Klein
Dead Cows and Other Biden Health Care Whoppers By Philip Klein
Inside the monstrous Obamacare bureaucracy By Michelle Malkin
CBO director: Deficit spending unsustainable by Ed Morrissey
Obamacare in the House: Do the Blue Dogs have any bite? By Michelle Malkin
Does ObamaCare outlaw private insurance? by Ed Morrissey
Congress should be required to enroll in Obamacare By Michelle Malkin
My Secret Life as a Conservative Republican by John T. Simpson
Kyl, McCain to White House: Threats “patently offensive” by Ed Morrissey
Warning: More Obamacare/MSM theater on the way By Michelle Malkin
The Borking of Frank Ricci By Aaron Goldstein
I Now Pronounce You Government and Wife by Doug TenNapel
ObamaCare: Taxing the uninsured by Ed Morrissey
Document drop: CBO scores the health care takeover By Michelle Malkin
Daily Gut: A New Alert System! by Greg Gutfeld
Obama: Hey, we’re going to keep losing jobs – Hot Air
Milestone: Budget deficit hits $1 trillion By Michelle Malkin
Pat Buchanan: Maybe it’s time for Todd Palin to push Levi Johnston’s head in a toilet by Allahpundit
Secret Plans to Kill Bad People by Greg Gutfeld
Obama staffers exhausted from grueling work of wasting trillions of dollars – Hot Air
Day Two: Sotomayor and ritual reassurances By Michelle Malkin
Palin on cap-and-trade: Job-killer by Ed Morrissey
Trumping the Race Card By Matthew Vadum
The Economy Is Even Worse Than You Think – WSJ
Video: ACORN affilates go nuts on Tea Party activists By Michelle Malkin
CBO does it again: Key ObamaCare cost-cutting proposal probably won’t save money – Hot Air
Video: No, you can’t just ram Obamacare through “fast” By Michelle Malkin
GM will lay off more workers after buyout falls short by Ed Morrissey
“We Misread How Bad The Economy Was” – Joe Biden
Misread indeed. Joe, maybe it would be a good thing to recollect how the Stimulus Package was shoved through congress without reading it, the rampant fear mongering by you and the President – and of course all the spending that our grandchildren will be paying for.
It also would be good to remember that the Stimulus was never about stimulating the economy. It was all about resuscitating the liberal machine and stimulating government.
Honestly is a lost virtue and this administration is adrift in the pool of broken promises.
More Articles
Stupidest House resolution ever By Michelle Malkin
Federal IGs object to attack on independence by Ed Morrissey
Dreams – or Nightmares – From Obama’s Father? by Ken Blackwell
Sarah Surprises Again By Robert Stacy McCain
Honduras at the Tipping Point – WSJ
Got Tea? The failure of the Stimulus and the looming disasters of Cap and Trade and Nationalized Health care
Got tea? House Republican Leader John Boehner addresses three issues: the Stimulus Package, Nationalized Health care, and the Cap and Trade Bill that just passed the House last Friday.
The Stimulus Package was never about stimulating the economy, but all about stimulating the government – and the unemployment rate.
I wonder – where are all the folks that complained about the deficit under George Bush now? Imagine what would happen if Bush presented a plan to spend our way to prosperity (which has never succeeded), and created unprecedented deficits that placed our grandchildren under it’s burden?
The message of hope and change by Obama was never explained in terms of ideology. In other words, he never said how he was going to achieve this hope and change. His far left methodology was carefully hidden – until now. Liberalism is a failed philosophy and progressivism is just liberalism progressively worse. Why must we visit failure over and over again?
Obama’s Stimulus Plan is a disaster. Cap and Trade and Nationalized Health Care are future disasters. Together, they will create a greater debt burden, a greater unemployment rate, and further capitulate the American people under the dominance of the State.
In a repeat of the Stimulus Package, Pelosi shoved Cap and Trade through without anyone knowing what was actually in the bill. One of the reasons could be that the legislation wasn’t written at the time! The CBO could not estimate the cost of this legislation because there is nothing to work with, except a 300 page amendment.
Can you imagine the same scenario when the health-care reform bill is rolled out at the end of the year?
Let’s work for real hope and change – and start by attending a nationwide July 17 protest against the government health care takeover. Please check out Tea Party Patriots and Re Tea Party for an event near you.
UPDATE! 7/17 Tea Party!
Today: Nationwide protest against socialized medicine & cap-and-tax By Michelle Malkin
UPDATE! 7/8
“60” from the NRSC.
UPDATE! 7/1
Pelosi’s National Energy Tax by the NRCC
More articles
Whom do you trust? by Ed Morrissey
Spawn of the Spendulus Updated By Michelle Malkin
The Receding Economy, Surging Spending By J.T. Young
Insurance Is No Answer by John Stossel
Spread Freedom? Not So Much by Jonah Goldberg
Stimulus fizzle has Democrats worried by Ed Morrissey
Down is Up, Unfair is Fair and Ignorance is Bliss by Victoria Jackson
Al Gore: If you question global warming cult, you’re a Nazi By Michelle Malkin
Video: EPA dissenter Alan Carlin speaks By Michelle Malkin
Video: Inhofe to dig into EPA head over suppressed report by Ed Morrissey
‘He’s Barack Obama’ Mega Anthem
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Barack’s Economic Plan – the people giveth, and the government taketh away…
The people giveth, and the government taketh away…
Serfdom – a member of a servile feudal class bound to the land and subject to the will of its owner – Merriam-Webster
So, the Stimulus Plan doesn’t seem to be working…
The passage of the Stimulus Plan placed us on the Obama Road to serfdom. FDR’s actions perpetuated the Great Depression, and Obama’s plan will perpetuate failure now. And our children will pay for it.
His call for change didn’t lead us to a new path, a new road – but a path that has led to failure. His new change is the decision to visit failure again. Instead of following the flow of freedom in the West from a totalitarian state, to freedoms unheard of in world history; Obama’s Road to Serfdom will lead us to socialism – which in turn, will hand over our future to the State and to servitude.
Instead of a government of the people, by the people, and for the people that Abraham Lincoln proclaimed – Barack Obama wants us to bow our knee as a people of the government, by the government, and for the government. A radical leftist, his intention is to bring change. But he wants to change the very fabric of our free society, to remake it, into his and his fellow elite’s image. His goal: to remake the most free, most prosperous, most powerful, most religious country in the world – and reduce it to a European secular socialist state.
It is surreal, as the unemployment rate rises and as Europe makes it’s turn to the right, recalling the President and the Democrats use of fear mongering, while shoving this so-called Stimulus Package down our throats. The Swindle Us Package is not about saving the economy, it’s all about saving liberalism and the progressive view of the future. This is a spending bill, and the only thing it is intended to do is stimulate the government. On top of it, this is wanton borrowing – we are not spending what we have, we are borrowing our children’s future.
We are just five months into the Obama Presidency and along with the Stimulus Package: the Omnibus Spending Bill (with over 8,000 earmarks), Obama’s take over of GM and Chrysler, his inroads in controlling banks and financial markets, the proposed passage of the global warming massive energy tax and plans to nationalize health care – are all indicators of the President’s intent of creating a nation of serfs.
More Articles
Caught on tape: SEIU thuggery By Michelle Malkin
CBO: ObamaCare will cost $1T, still leaves 30 million uninsured by Ed Morrissey
Obama’s Americorps scandal — and the First Lady’s meddling By Michelle Malkin
Britain to America: ‘Don’t Let This Happen to You!’ by Charles Winecoff
Billions in US bonds seized in smuggling operation by Ed Morrissey
Is Obama’s Economic Maneuvering Room Already Exhausted? David P. Goldman
Rev. Wright on Obama: “Them Jews aren’t going to let him talk to me” – Hot Air
Megan Fox: Another Cowardly Conformist Who Makes Things Worse for Women in Hollywood by Leigh Scott
Murder by Bureaucracy By Peter Ferrara
Kennedy health plan aids elders, young adults By RICARDO ALONSO-ZALDIVAR
“Obama Man”
Weekend: Protect Your Home from Joe Biden
h/t to Creative Minority Report. Well, you know that Joe! The President assigned him with the responsibility of making sure that Stimulus monies are not wasted. So beware! Don’t let the human gaffe machine persona fool you…
Weekend: Wrap-up of Tea Party on Friday, The Tea Party Continues – CPAC on Saturday
The Tea Party continues at CPAC on Saturday – watch live streaming at Townhall Presents CPAC-2009. Guests will feature Sen. Rick Santorum, Gov. Tim Pawlenty, Ann Coulter, David Horowitz, and Rush Limbaugh.
Pajamas TV will also cover CPAC, and also ongoing coverage of the National Tea party movement.
Michelle Malkin’s wrap up of Friday’s events
The Obama Road to Socialism and the Enslavement of the Poor
Jim
“The problem with socialism is that eventually you run out of other people’s money.” Margaret Thatcher
Serfdom – a member of a servile feudal class bound to the land and subject to the will of its owner – Merriam-Webster
We are on the Obama Road to serfdom. This road will lead us to socialism – which will hand our future to the State, and thus to servitude. This servitude will be exemplified in the State’s attempt to solve the problem of poverty, and the caring for our poor.
Barack Obama and the Secular Progressives believe themselves as the elites, and they in turn exalt the State as the savior of mankind. This is the radical left, and they insist that all must capitulate to the will of the State. But they have a problem. While there are folks who will relinquish their personal freedoms, and become serfs to the State – most people will not. Poor Seculars – what are they to do?
The Seculars realize the importance of recruiting as many people as possible, to depend on the government for some type of assistance. Whether Social Security, healthcare, education, welfare, and the like. The poor in their need are easy pickings. In order to understand all of this, we must realize the issue for the Seculars is not the solution to poverty. The issue is dependence on the State.
Continue reading “The Obama Road to Socialism and the Enslavement of the Poor”
A New Boston Tea Party? Update from D.C.Tea Party!
UPDATE 2/27!
Scenes from the D.C. Tea Party – Michelle Malkin
If you you are unable to attend one of the National Tea Party events today, Michelle Malkin has some great ideas for participating right at home or work:
“I want to encourage all of you to stage your own form of a protest at your work. Don’t do anything against your company policy that would get you disciplined or fired. Here are a few ways that you can participate:
1. Participate in the live tweeting using the #teaparty hashtag.
2. Take part in the Tea Party rally in Second Life.
3. Writing letters to the media, elected officials, etc.
4. Blogging about the Tea Party and the message behind it.
5. Bring bags of tea to work and lay them on your desk. When your co-workers ask you why, explain the reasoning behind the protest and say you are showing your support.
6. Make iced tea for the office and share the message with those you work with.
The last two on that list are things you can do at work to show support, but if you don’t feel comfortable you can still do them, but just not explain your reasoning to your co-workers if you aren’t comfortable or if you don’t work in a really accepting place.”
Michelle also has a listing of events, read the rest of her articlehere.
OBAMA’S SPENDING SPREE! 2/26
Folks, this is completely out of hand! We need to get serious, start bringing tea, and take our country back!
$25, 573.48 – what Barack Obama’s budget will cost each taxpayer
‘Hard choices’ budget sees $1.75 trillion deficit
Oh, where is the omni-pork in your neighborhood?
Spendzilla! Fun facts about Obama’s budget-busting budget
Estimated Budget Totals for 2008-2010 Show Government Public Debt Rise 63 Percent
It’s Obama spreading panic
By Dick Morris
Ultimately, all recessions and depressions resolve themselves into crises of confidence. The instant, global, 24/7 communications of today make them ever more so. President Obama, in his pursuit of liberal big-government spending, has totally neglected the role of the president of the United States in reversing global panic. To the contrary, his every remark and the constant preoccupation of his Cabinet is to heighten the sense of crisis and to escalate the predictions of doom if we do not do as they tell us and raise spending now and taxes later.
Instead of being a firewall, reassuring Main Street even as Wall Street crashed, he has become a conduit of panic, spreading the mood of desperation from the stock exchange floor to kitchen tables across the world.
There are bad loans, which became bad assets, that lie at the root of the crisis. Through deregulation by the government and the greed of financial institutions, they spread to every portfolio in the world. But these basic facts have metastasized out of all proportion to their real harm into job and financial insecurity for every family on Earth. It is President Obama, not the markets themselves, who has spread this fear. A global Paul Revere, he has not only aroused us, but incited fear and trepidation in his wake.
Previous panics have been global in impact, but local in focus. The world panicked because of developments in Mexico or Argentina or Thailand or South Korea. Now, with Collateralized Debt Obligations spreading the poison of a bunch of bad loans all over the world, infecting every portfolio, the panic is not only global in impact but in focus as well. Modern communications have hastened the spread of the virus of panic throughout the global bloodstream.
In addressing this panic, the president of the United States must truly be the leader of the world — showing the way back to confidence.
Instead, Obama has been instrumental in purveying fear and spreading doubt. It is his pronouncements, reinforced by the developments they kindle and catalyze, that are destroying good businesses, bankrupting responsible people and wiping out even conservative financial institutions. Every time he speaks, he sends the markets down and stocks crashing. He doesn’t seem to realize that the rest of the world takes its cue from him. He forgets that he stands at the epicenter of power, not on the fringes campaigning for office. This ain’t Iowa.
Continue reading “A New Boston Tea Party? Update from D.C.Tea Party!”
Obama abandons welfare reform – new Republican opportunity
New Republican Opportunity: Welfare Reform
American Spectator
By Peter Ferrara
Sweeping, historic, welfare reforms were enacted in 1996, led by the Republican congressional majorities at the time, with strong, bipartisan support. The reforms involved the old Aid to Families with Dependent Children program (AFDC), originally adopted during the New Deal. The federal funds for the program were sent back to each state with the funds to be used for a new welfare program designed by each state based on mandatory work for the able bodied.
Sweeping, Historic Success
Before the reforms, the federal AFDC funds for each state were provided through a matching formula. The more spent by each state for AFDC, the more federal matching funds were paid to each state. So the states had an incentive to sign up more and more AFDC recipients, for each new recipient effectively brought more federal funds to the state. As a result, before the 1996 reforms, the AFDC rolls grew and grew, in both good economic times and bad, apart from state AFDC experiments that began to implement the fundamental changes.
The Obama Road to Serfdom: Good Morning Socialist States of America!
Jim
The people giveth, and the government taketh away…
Serfdom – a member of a servile feudal class bound to the land and subject to the will of its owner – Merriam-Webster
With a stroke of President Obama’s pen, our country is on the road to Socialism. We are now on the Obama Road to serfdom. His call for change doesn’t lead us to a new path, a new road, but a path that has led to failure. His new change is the decision to visit failure again. Instead of following the flow of freedom in the West from a totalitarian state, to freedoms unheard of in world history; Obama’s Road to Serfdom will lead us to socialism – which in turn, will hand over our future to the State, and to servitude.
Instead of a government of the people, by the people, and for the people, that Abraham Lincoln proclaimed; Barack Obama wants us to bow our knee as a people of the government, by the government, and for the government. As a radical leftist, his intention is to bring change. But he wants to change the very fabric of our free society, to remake it, into his and his fellow elite’s image. His goal: to remake the most free, most prosperous, most powerful, most religious country in the world – and reduce it to a European secular socialist state.
It was almost surreal, watching the President and the Democrats use fear mongering, to shove this so-called Stimulus Package down our throats. The Swindle Us Package is not about saving the economy, it’s all about saving liberalism and the progressive view of the future. This is a spending bill, and the only thing it is intended to do is stimulate the government. On top of it, this is wanton borrowing – we are not spending what we have, we are borrowing our children’s future.
This package will reward supporters, support liberal causes, supply pet projects at home, and fund corrupt organizations like ACORN to help perpetuate the Democratic Party. FDR’s socialism perpetuated the Great Depression, and Obama’s socialism will perpetuate failure now. And our children will pay for it.
Obama’s sights are now on nationalizing failing banks, and failing mortgages.
Forget about 2012 – will the American People take our country back from Barack’s Socialist Party in 2010?
NEW! 2/27
Citi, U.S. Reach Deal on Government Stake
Government could own up to 36 pct. of Citigroup
NEW! 2/25
Those Foreclosure “Victims” Deserve No Sympathy – Michelle Malkin
More articles –
AIG Seeks to Ease Its Bailout Terms
The end of the American Dream by Star Parker
75% Oppose Nationalization of U.S. Banks – Rasmussen
Clinton wraps Asia trip by asking China to buy US debt – Breitbart
Continue reading “The Obama Road to Serfdom: Good Morning Socialist States of America!”
The Stimulus Package is not designed to save the economy, it’s designed to save liberalism – New Republican Opportunity: Welfare Reform
The Stimulus Package is not about saving the economy, it’s all about saving liberalism and the progressive view of the future. This is a spending bill, and the only thing it is intended to do is stimulate the government. On top of it, this is wanton borrowing – we are not spending what we have, we are borrowing our children’s future.
Here are articles to keep you informed about the Stimulus Plan that will be updated daily.
NEW! UPDATED ON 2/19
New Republican Opportunity: Welfare Reform
American Spectator
By Peter Ferrara
Sweeping, historic, welfare reforms were enacted in 1996, led by the Republican congressional majorities at the time, with strong, bipartisan support. The reforms involved the old Aid to Families with Dependent Children program (AFDC), originally adopted during the New Deal. The federal funds for the program were sent back to each state with the funds to be used for a new welfare program designed by each state based on mandatory work for the able bodied.
Sweeping, Historic Success
Before the reforms, the federal AFDC funds for each state were provided through a matching formula. The more spent by each state for AFDC, the more federal matching funds were paid to each state. So the states had an incentive to sign up more and more AFDC recipients, for each new recipient effectively brought more federal funds to the state. As a result, before the 1996 reforms, the AFDC rolls grew and grew, in both good economic times and bad, apart from state AFDC experiments that began to implement the fundamental changes.
More articles on the Stimulus Plan
Upside Down Economics – Thomas Sowell
A tainted win – National Review By Rich Lowry
President Obama’s 2,000-point tumble – Michelle Malkin
Goodbye, America! It Was Fun While It Lasted – Ann Coulter
The Real Lessons of the Great Depression – Michael Barone
Congress Passes $787B Stimulus Bill, Sends It to Obama for Signature – Fox News
House passes Obama’s economic stimulus bill – Breitbart
More articles on the Stimulus Plan
Boehner Floor Speech on Democrats’ Trillion-Dollar Spending Bill
This says it all folks – I hope Pelosi enjoys her trip.
Leader Boehner speaks shortly before House Democrats push through an 1,100 page, trillion-dollar spending bill with less than 24 hours of public review time.
Common Bread 