100% Failure Rate - Part II

Consider this further evidence of my post back in September:

I don't know about you but the news out a few days ago about Social Security just proves that our federal government is unable to do anything right; especially with our current administration.

You didn't hear the news? You must watch the mainstream media who refuses to report anything that may make Obama look bad and, if they do, they blame Bush.

The disturbing news is that projections for Social Security are significantly off. Social Security was supposed to remain in the black for at least another six years. We found out a few days ago that it is already in the red; in other words, it is paying out more than it is taking in right now. (You mean to tell me that the government, which publishes its own projections for its own programs was wrong? I'm shocked!).

DO ANY OF YOU REMEMBER WHEN THE BUSH ADMINISTRATION TRIED TO OVERHAUL SOCIAL SECURITY?

WHO STOOD IN THE WAY? WHO DEMONIZED THE EFFORT? WHO SCARED SENIOR CITIZENS? ? ? ? ? ?

The answer is the same party that is trying to "fundamentally change America". The Republicans aren't much better but at least they would not have taken the country on a kamikaze mission. They could never get away with it because the loony left and the mainstream media would have screamed day after day like they did for eight years under Bush.

Back to the point of this post: We have commitments that we already cannot meet, and we are saddling ourselves with massive new expansions and more commitments (i.e. health care, stimulus bills/jobs bills, corporate bailouts, massive earmarks, mortgage bailouts, etc).

Where is it coming from?

• It will come FROM debt spread out over generations.

What does it come with?

• It will come WITH a lower standard of living as a result of massive new taxes heaped upon the citizens of the United States and the higher interest rates we will be forced to pay.

Until there is a commitment to MASSIVE spending cuts at the national and state level and MASSIVE tax cuts to stimulate small business owners to create jobs, we are screwed!

Ask yourself why the Obama Administration is not cutting taxes or reducing spending in the midst of the worst economy since The Great Depression???? Why are they piling on with more and more policies that have been proven over time NOT to work????

Power and control!!!!!

HOW'S THAT 'HOPE AND CHANGE' WORKING OUT FOR YOU?????

Please wake up America!

Corporate Debt Viewed More Favorably Than US Debt.

From Jon L. Johnson's Technical Trader Market Update for March 22, 2010:

How pathetic is this?

In a very, very rare circumstance, the debt issued by corporations, i.e. corporate bonds, is worth more than comparable term US treasury bonds. How do you tell? Look at the yield. Corporate bonds issued by Berkshire Hathaway, PG, JNJ, and LOW just to name a few, sport yields 3.5BP less than US treasuries of comparable terms.

As noted, this happens very rarely. It happens when the US outlook is viewed as less safe than that of corporations. The driver? The US debt and the debt to come. Moody's has already said if the US stays on this debt course it is going to lose its AAA credit rating.

The budget deficit is now 10% of the GDP, a post-WWII high. The US has the highest debt service cost (debt as a percent of revenue) of any top rated country with the exception of the UK. In 2010 it is 7%. By 2013 it will be 11%. That is not including the healthcare plan that will, despite absolutely bogus projections that count as savings money to be used elsewhere, don't count over $200B in increased doctor payments under Medicare, and that don't count $150B in administrative costs, balloon the spending. If you doubt, look to Massachusetts and its plan that cost 40% more than expected in just three years, Medicare that cost 10 times as much as projected, and Medicaid that cost 100 times as much as projected. The US won't save money by creating entitlements. When each has been passed it was going to save money over the private system. Each time it has taken us several steps toward breaking the bank.

This one will do it. That is why before passage corporate bond rates were lower than US Treasuries (indicating less risk and thus they had to offer less to attract buyers) and they are going to be an even better bargain as these costs become more apparent.

Sheer Lunacy

Did any of you see the Obama interview with Bret Baier at FoxNews yesterday? http://drudge.tw/ago8fD.

THIS GUY IS PRESIDENT OF THE UNITED STATES! If you missed it, here is a synopsis:

#1 - He never answers THE QUESTION! He is a tyrant at best, a dictator at worst!

#2 - Did you catch that???? “we’re not transforming one-sixth of the economy in one fell swoop”

#3 - "Bret, Bret stop interrupting me from NOT answering your questions!”

#4 - ‘If I say his name enough, he will stop asking me questions that I refuse to answer’

#5 - 'If I keep talking and not saying anything, my handlers will tell Bret that time is up'

WAKE UP AMERICA!

The Next Shoe to Drop

Does anyone in Washington think about the next shoe to drop or the

unintended consequences of their meddling?

In the Obama Administration's latest attempt to spend our tax dollars, we have yet another bailout, They have proposed a new program that will pay homeowners to sell at a loss.

http://tinyurl.com/ydf4yfz

So let me get this straight, the federal government forced lenders to make loans to people who were not qualified then had quasi-government institutions (Freddie and Fannie) buy the soon-to-be-worthless mortgages and now that the mortgage have assumed close-to-worthless status, the tax payers must now pay the originally non-qualified borrowers to vacate their underwater homes??????

Not a lot of common sense being employed here.

Being one who employs common sense, I'm thinking the next shoe to drop is . . . . . . the commercial real estate market. If you pay any attention to the financial markets, it has been abundantly clear that the next financial crisis will be triggered by commercial real estate loan defaults.

I'M JUST CURIOUS IF OBAMA WILL HAVE ENOUGH OF OUR MONEY LEFT OVER TO BAIL OUT THE COMMERCIAL REAL ESTATE MARKET AFTER HE HANDLES THE RESIDENTIAL MARKET, WHICH WAS PRECEDED BY THE BAILOUT OF WALL STREET (with the help of the Bush Administration), WHICH WAS FOLLOWED BY THE BAILOUT OF GENERAL MOTORS, TO BE CAPPED OFF WITH . . . . .THE HEALTHCARE REFORM BILL AND CAP AND TRADE.

WAKE UP AMERICA!

A Really Good One-Term President

In a December 18 interview, President Obama stated that he "would rather be a really good one-term president than a mediocre two-term president."

Is this the most idiotic statement you have ever heard?

There is no such thing as a really good one-term president. There is only one reason you become a one-term president; BECAUSE YOU SUCK!

Since Hussein cannot tell us what he really believes, let me rephrase this statement for him:

"I would rather ram my radical, progressive agenda down the throats of
America than get reelected in 2012."

Stated that way, you have to admit, he's doing an incredible job.

WAKE UP AMERICA!

The Truth About Reconciliation

I want to reference last week's blog where I quoted numerous Democrats', including Biden and Obama, who maligned President Bush's attempt at using "The Nuclear Option" to get his judges confirmed over the unprecedented obstruction of the Democrats in Congress.

A Wall Street Journal op-ed outlines the history of reconciliation and just what an abuse of power we are about to witness: http://bit.ly/ceNdtA

Even Robert Byrd is opposed to its use for non-budgetary legislation.

The level of desperation and Kamikaze approach to this legislation on the part of the Progressives (Obama, Reid, Pelosi, Waxman, Schumer, Boxer, Frank, Dodd, Rockefeller ) is nothing short of breathtaking.

And, once again, the lamestream media shows themselves for what they are . . . . . nothing short of a democrat party hack.

It's Official - The End Is Near

http://bit.ly/c57HLq - Washington Times

Congratulations to Mr. Obama and his merry band of socialist! It is official,

"for the first time since the Great Depression, Americans took more aid from the government than they paid in taxes."

The preferred course of action by our current administration and our two highly-esteemed Congressional leaders Pelosi and Reid is to throw more money at the problem.

You will not hear one mention of lowing taxes in order to stimulate job growth. The entire focus is two-fold:

#1 - Grow the government's employment roles so we have more and more citizens dependent on the government for their livelihood and, of course, become members of unions and;

#2 - Throw more and more money at various social programs so . . . . more and more citizens remain dependent on the government for their livelihood.

It doesn't take a genius to see what is going on.

WAKE UP AMERICA!