Obamanomics, everything for everyone

With announcement of his stimulus plan, it is finally clear to the neophytes that Obama has great vision but lacks great conviction.


He has correctly realized the scale of the financial crisis but his diagnosis and solutions are all over the map. Like his campaign promises, he is a generalist, a populist, a I-want-everyone-to-love-me politician.

Obama's "stimulus plan" includes tax cuts, business credits, infrastructure investment, green technology, deficit spending, promises of a balanced budget, rainbows, unicorns, and peter piper. Even the Democrats with conviction of their own are pushing back on items in the stimulus plan that are in contradiction with their Principles (yes, they do exist).

The man who holds the record for "present" votes will not get by on vague, visionary, generic, or charming policies. The President of the United States is the highest executive position one can hold. He will be forced to make major decisions with imperfect information that will have fatal and enormous consequences on the spot, every minute of every day. If he doesn't understand that, he will learn the hard way.

Bye Bye ambiguity. Its time for Barack to grow his conviction.

Signing off...JCB

http://www.nytimes.com/2009/01/09/opinion/09brooks.html?_r=2&ref=opinion
http://www.realclearpolitics.com/articles/2009/01/obamas_choice_fdr_or_reagan.html
http://www.mcclatchydc.com/251/story/59217.html
http://www.usnews.com/blogs/capital-commerce/2009/1/7/why-obama-will-own-the-recession.html Sphere: Related Content

TARP: A Gigantic Bridge to Nowhere?

The "Bridge to Nowhere" approved federal project to spend an estimate $398 million on a bridge to connect Alaska's Gravina Island residents (approx. 50) to Ketchikan International Aiport was once upon a time the scandal of scandals in mis-appropriated federal funds.

My, how the times have changed...

The U.S. Treasury has shown an ineptitude only capable by a government organization in its issuance, administration, and reporting of the $700 BILLION bailout. Otherwise known as TARP (Troubled Asset Relief Program), the bailout was approved with roaring voices of oversight and accountability by Democrats and Republicans in Congress.

The sad, almost predictable, fact is that with almost half of the money issued ($350B) there is little known impact. The AP surveyed those who received large chunks of the issued $350B, and they basically got non-disclosure regurgitation and vague accounts.

I may be old fashioned but how did these firms justify the dollar amounts they received? To justify were there ROI discussions or deliverable terms and conditions or did they throw out a round number and Paulson's cronies wrote the check? It is amazing the unwillingness and probable inability to produce some semblance of order to how the money is being issued and spent.

On issuance:

• What justification is used by firms to gain access to the funds?
• Are there strategy investments the Treasury is targeting?
• What are the terms for repayment?
• Are there goals of any kind related to spending?

On spending:

• Are the recipients accountable in any way to the Treasury to show spending?
• Are the rewarded for extending credit?
• Do they have any incentives to invest in specific sectors (i.e. foreclosure avoidance)?

OK, I'm getting dizzy staring into the great abyss. Maybe, just maybe, someday we will know how and if the money has been spent. Don't hold your breath!!

Signing off...JCB

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Car Czar, Drug Czar, what next?

As I wrote about previously, the Democrats are using bait and switch tactics to, I fear, expand the power and control of the Federal Government. The example I used was the call for more oversight of the auto-manufactures manifested in the idea of a Car Czar.

What concerns me is the abuse of such a position by a egregious ideologue intent on shaping the auto-industry to some predisposed outcome. You can see by recent news that this particular position's authority is expanding by the day. If they do make the mistake of bailing out the U.S.-based auto-makers, I hope there are defined terms for repayment, defined dates for renegotiated agreements, and specific Congressional oversight, administration, and issuance of the moneys.

My question is "what next?". What Czar-like authority will Obama and the Democrats appoint and build? Not one that will damage or question any of their constituents, I can assure you of that.

Think the auto-industry would have a shot at this time of hand-out in a Republican controlled Congress? It comes down to who your constituents are. Democrats have lived off of the coal miners votes in Appalachia for the past 65 years. They are about to part ways. Obama's desire to bankrupt the coal industry will likely happen in the next decade or two through the subsidizing of alternative fuels and exclusion of investment in clean coal. There won't be outrage or calls for a bailout of this industry, why? They are no longer voting Democrat religiously and with Obama they have a new strategy for victory.

You scratch my back, and I'll scratch yours. Good 'ol Boys!!

Signing off...JCB Sphere: Related Content

What is Bush thinking?

President Bush is considering using a portion of the $700B approved Bailout money to help the Big 3. Unbelievable!!

As Republican (and a few Democrats) Senators prepared to reject the bill passed by the House, after the UAW rejected the terms proposed by the GOP Senate Leadership. To my understanding, the approved bailout passed by the House included language that would require the UAW wages to be renegotiated to be more in-line with the other (profitable) U.S. auto-manufacturers. GOP Senators wanted a timetable to ensure that the agreement would take place within a reasonable time, the UAW response... No Way! Heisman! Bye-bye.

Well, if that isn't an indicator of their commitment to fundamental change required in the terms of the bailout agreement, what else? They obviously wanted to appear willing to consider change but would fight any concessions, that's the Union mentality. Commitment without accountability is an open door to subversion.

Of course, we get the usual attempt to vilify the GOP as Union killers. The GOP Senators need to sell the reason why they are opposing this, lack of accountability and commitment to correcting the problems.

Meanwhile, the President is hinting at working to pacify the inept? Huh? Why? If he thinks that helping the auto-makers & unions will be remembered positively, wrong! If he thinks that taking this action will help the economy and the perception that he helped bring us out of this downturn, wrong! Barack will get all of that credit.

Don't do it Mr. President. GM and Chrysler need Chapter 11.

Signing off...JCB Sphere: Related Content

Democrats using good old Bait & Switch tactics

For anyone who thinks that these bailouts will not nationalize in some way the private banking, auto, mortgage, etc. industries, think again!

As we hear calls for more "bailouts" to save these uncompetitive companies, we simultaneously hear Democrats clamoring for greater "oversight" of the issuing of the bailout money. It has even been suggested that we need a Car Czar.

Now I'm with all of you, there should be accountability for how the money is spent and who receives it. But I fear that the Republicans are oblivious to the bait & switch tactics at play. The Democrats are appealing to the reasonable conscience when requesting greater oversight. However, this power can be manipulated and abused.

Take the idea of a Car Czar:

• Where does his or her authority end?
• Is it solely in the administration of the money or does it extend to efficiency standards, labor contracts, product placement, green technology, etc.?
• Even if limited to the money, what are the contractual terms governing issuance?
• Can the Car Czar withhold bailout money from a car company that isn't meeting fuel efficiency targets or meeting union benefit demands?
• Can the Car Czar set precedent across the entire U.S. auto-manufacturing industry or is he or she limited to the Big 3 under the Bailout agreement?
• Can the Car Czar impose on other auto-manufacturers the uncompetitive labor requirements that the Big 3 have subjected themselves to?
• Does the Car Czar have authority over import tariffs on foreign owned auto-manufacturers?

These are all questions that need to be asked when Democrats invoke oversight privileges. This may not be a revolution, but the slow coalescing of control over market independence. Government oversight in the hands of ideological soldiers spawns into nationalized control of industry, that's Socialism. It is up to those who oppose this future to keep them in check, challenge their expansion of power, and educate the public on the subversive goals of their actions.

Signing off...JCB Sphere: Related Content

Czar you kidding me?

The United States is now entertaining an idea of government oversight over the Big 3 Automakers as part of a deal for emergency bailouts. The position has been quickly termed by the mainstream press as the "Car Czar." We've had "Drug Czars," "War Czars," and "Money Czars" as well as a few others in our American history, but they bear little resemblance to the Russian rulers dating back to 14th century. That's not for lack of wanting, though. Our mainstream press is simply gushing over Obama's "New New Deal" as they seek to solidify Democratic control over even more aspects of our daily lives.

What is it about people that makes them believe the government is somehow better equipped to handle their lives? In the Great Depression, we saw exorbitant spending by FDR, but little evidence of his policies exists that points to any economic recovery beyond entering World War II. That generation of Americans would take any job offered, and they would scrape what little they had to take care of necessities for their children. Today we have people singing that Obama's going to pay their mortgages, and put gas in their car in one city, while Congress is giddy to insert itself even more heavily into the free market to the extent that Detroit may be called the "Federal District of Detroit" before too much longer.

We've produced a nation of wimps, with over-obsessive government, to the point that I've actually witnessed people wait for permission to evacuate from a fire. Grown men stand idly by while an 80 year old WWII veteran is assaulted in one city, while other men trample over women and children to get an extra 15% off the red-sticker price at Wal-Mart. Now we have a nation that can't take responsibility for its own actions, like some spoiled rich kid, and begs mommy and daddy for a bailout loan with no solace, and no remorse for financial misdeeds, because they know it is coming anyway.

You and I are mommy and daddy, by the way.

It's time to tell your Senators and your Representative that you do not support bailing out failing companies with your own hard-earned tax dollars. Tell them to either bail all of us out, pay off our mortgages, and any debts that we may have incurred over time, as well. Heck, let's just create 1,000 new jobs at the Treasury Department and print off a quadrillion dollars and send checks to everyone while we're at it!

It's only our money...(that we don't have)...going to other people...(who don't deserve it) to solve (political) problems!


Find your 'leaders' here: www.senate.gov and www.house.gov and ask them where YOUR check is. Of course they can't do that, b/c you're not a union-run failing corporation. The government should no sooner cut checks to these companies than they should pay off anyone else's credit card balance. We need to take responsibility, but the government is unfortunately more concerned with using this economic situation as an opportunity to grab more power than any Czar from Russia's past could dream of.

It all comes down to freedom. Sphere: Related Content