Tag Archives: tax increase

Help Me Out Here On Obama’s Second Press Conference?

Clearly everything Geithner’s bailout programs are doing is intended to “fix the credit markets,” which is to increase lending/borrowing to businesses and consumers. Geithner/Obama’s programs are to increase mortgage lending, and consumer and small business borrowing. There are special programs to increase lending for new cars, and to securitize credit card receivables so that consumers can spend on new cars and every kind of credit card borrowing.

At the same time these programs create  trillions of government debt, truly massive debt, but that is OK because the purpose is to make credit more available. Doesn’t that boil down to getting businesses, consumers and the government deeper into debt?

Help me out here. Isn’t excessive borrowing and excessive debt what got us into this mess?

Is increasing consumer and business debt the way to cure the problem of excessive consumer, business and government borrowing? What am I missing?

Here is text from Obama’s second press conference, cut and pasted exactly, courtesy of Associated Press:

At the end of the day, the best way to bring our deficit down in the long run is not with a budget that continues the very same policies that have led us to a narrow prosperity and massive debt. It’s with a budget that leads to broad economic growth by moving from an era of borrow and spend to one where we save and invest.” BH Obama March 24, 2009.

Well, clearly all the government programs contradict the words of our President about “moving from an era of borrow and spend…”

Let us examine the last part where Obama says: “to one where we save and invest.”

Exactly how does Obama stimulate saving and investing? The interest that savers can earn from the banks or from investing in Treasury securities range from one quarter of one percent to two percent, the lowest in my lifetime. How does Obama encourage people to save when he artificially forces the return on savings down to nothing?  I feel like I am being punished for saving.

My interest income has been destroyed.

But Obama wants to raise my taxes on income from savings and investments. How is increasing taxes on income, and on capital gains from savings and investing going to increase savings and investing?

Then the hypocrite will take the tax fruits from punishing savings and investing, and give it to people who borrowed and spent. Isn’t that rewarding “borrow and spend” while punishing, disincentivizing “where we save and invest?”

Help me out here. How are Obama’s lying, false words “by moving from an era of borrow and spend to one where we save and invest” not an even meaner, more cruel  joke than “Change you can believe in?”

We must decide whether Obama truly has no idea about what he is reading from the teleprompter and is merely another brainless idiot President, even dumber than the one he replaced, or whether he is bipolar and his evil side wants to destroy America. Because that is exactly what his policies are doing.

We Have Not Been This Oversold Since Tomorrow

Yesterday March 6, 2009, a NYSE Floor Broker with 30 years trading expertise was asked his opinion on the market prospects.

His comment was heard around the world within 90 seconds because it summed our prospects so clearly.

Or as Obama might say “boldly.”

The guys who knew say tomorrow will be worse, Obama says buy now. Stocks dropped a lot since Obama said to buy.

Don’t you just hope all those morons who bought his “Change” BS also bought stocks when the Messiah said to buy?

Of course his supporters would have to use Food Stamps to buy stocks.

Don’t Let Idiots Start A War with Iran

Iran will collapse of its own wieght as the price of oil declines. All we have to do is nothing but wait.

And perhaps start a student and cultural exchange program.

But the people from the Far Right, Far Left and Israel want to start another war worse than Iraq. Do no let them further ruin our country with another unnecessary war.

Sure Iran is offensive. So is our new President.

Make love, not war.

Real men go to Tehran!” brayed the neoconservatives, after the success of their propaganda campaign to have America march on Baghdad and into an unnecessary war that has forfeited all the fruits of our Cold War victory.

Now they are back, in pursuit of what has always been their great goal: an American war on Iran. It would be a mistake to believe they and their collaborators cannot succeed a second time. Consider:

On being chosen by Israel’s President Shimon Peres to form the new regime, Likud‘s “Bibi” Netanyahu declared, “Iran is seeking to obtain a nuclear weapon and constitutes the gravest threat to our existence since the war of independence.”

Make love, not war.

No more wars!

Emperor Nero (Obama) Keeps Fiddling As Rome Burns

Obama cannot understand that the stock market is the most intelligent evaluator that the world has ever seen, and it does not like what Obama is saying.

Obama keeps rolling out more and more expenditures, $275 billion for mortgages, $787 billion for a stimulus plan, $441 billion extra spending beyond Bush dumb budget. Golly gee, that is more than $1,500 billion in two weeks?

Plus trillions more to buy mortgages from Fannie Mae since no one else will buy worthless crap any more. Gee, why should we taxpayers? Just get rid of Fannie Mae, since she started this whole mess.

Plus trillions more into failed banks that just cannot stop failing over and over again.

The results of Obama’s Spendomania Orgy? January was the worst January in the history of America for the stock market.

So Obama announced more spending but tried to disguise it by saying he would cut the deficit in half in four years, but first he had to increase it to the most ridiculous number ever seen. The result?

February was the worst February in the history of America for the stock market.

The size of the deficit after he cuts it in half (assuming that he will, which defies credulity) the remaing deficit will be by far the largest deficit we have ever seen (before Obama, of course). To set that large a “reduced” deficit as acceptable is not reasonable. To set it as our goal is so ridiculous that words fail me.

Cumulatively, the Dow Jones and Standard & Poor’s indexes have all broken below their previous lows, signaling that the worst January in history, and the worst February in history, are only a harbinger of things to come.

These are the worst stock index charts in history. Let me repeat this in terms even a food stamp baby can understand:

THE CURRENT STOCK MARKET DECLINES FOR JANUARY AND FEBRUARY, COMBINED WITH THE DECLINES SINCE THE POLLS SAID A TAX RAISING SOCIALIST WAS ABOUT TO BECOME PRESIDENT, ARE FAR WORSE THAN ANY TWO MONTHS OF CHARTS IN THE GREAT DEPRESSION!!!

The market has just told us that Obama’s plans will fail to save us from a new Great Depression.

Sell ALL your stocks and real estate today, even at these low prices, and put all the money in insured bank deposits and T-Bills.

The worst part is Obama continues to mesmerize the media and the press and the youth, so he will get what he wants, and all value will be destroyed. Our financial future is lost.

Pork, Stimulus or just BS Obama?

Dear Food Stamp President: Is your brain able to recall your promise about no more earmarks, or better yet, YOUR PROMISE TO VETO ANY BILL CONTAINING EARMARKS???

Everybody try to see if BS Obama keeps his promise and vetos the new spending bill that contains these kosher, non-pork, non-earmark items:

$185,000 for coral reef research and preservation in Maui County, Hawaii

$55,000 in meteorological equipment for Pierce College in Woodland Hills, Calif.

$9.9 million for science enhancement at historically black colleges in South Carolina.

In addition to the basic operations of government, the new budget includes 775 pages of earmarks, funding programs that include local museums, colleges and infrastructure projects.

Among the earmarked projects in the bill are $764,000 for the Lake George Watershed Protection Initiative in New York, requested by Sen. Kirsten Gillibrand, New York
Democrat;

$9.9 million for South Carolina’s historically black colleges and universities, requested by House Majority Whip James E. Clyburn, South Carolina Democrat;

$1.1 million requested by Senate Republican Conference Chairman Lamar Alexander and Sen. Bob Corker, both of Tennessee, for water treatment plant improvements in Tennessee’s Unicoi County, as well as $300,000 for a sewer extension project in another county.

Examples of Earmarks in the Omnibus

$713,625 Woody Biomass at SUNY-ESF. Walsh and Schumer sponsors

$951,500 Sustainable Las Vegas. Berkeley and Reid sponsors.

$24,000 A+ for Abstinence. Specter is sponsor.

$300,000 Montana World Trade Center. Rehberg sponsor.

$950,000 Myrtle Beach International Trade and Convention Center. Graham sponsor.

$200,000 Oil Region Alliance. Peterson sponsor.

$190,000 Buffalo Bill Historical Center, Cody, WY for digitizing and editing the Cody collection. Barbara Cubin is the sponsor

$143,000 Las Vegas Natural History Museum, Las Vegas, NV, to expand natural history education programs. Sponsored by Harry Reid

$238,000 for the Polynesian Voyaging Society, Honolulu, HI, for educational programs. Sen. Daniel Inouye is the sponsor.

$381,000 for Jazz at Lincoln Center, New York, NY for music education programs. Jerrold Nadler is the sponsor.

Rep. Jerry Lewis of California, the top Republican on the House Appropriations Committee, would spend $3.8 million on a Needles, Calif., highway.

Sen. Thad Cochran of Mississippi, the top Republican on Senate Appropriations, backs earmarks including a $950,000 nature education center in Moss Point, Miss. He defends earmarks.

Nancy Pelosi Was So Precious At The State of The Union

Did you see Nancy Pelosi jump up in absolute ecstasy when Obama said corporate and bank executives could not just disappear in their private jets?

Did this psychotic bee-yatch actually forget that every weekend she disappears on a 200 seat jumbo jet to commute to her mansion in San Frangayda, and then back again, at a cost to us taxpayers of more than $100,000 each weekend round trip?

Her private government jet costs you and me more than $6,000,000 every year to commute between her Washington DC mansion and her San Frangayda mansion, but the Dems want Sarah Palin to pay back $7,000 for her daughters travel?

For those who are mathematically disadavantaged, Pelosi get $857 for every dollar our lovely Sarah gets!! This is wrong!!

Does the goverenment make Nancy Pelosi pay back the pro rata cost of her friends and family members who get free rides on Nancy’s jumbo jet paid by you and me?

Finally, did you watch Nancy’s facial expressions during the food stamp President’s speech? Nancy Pelosi has psychological problems!

Congress Just Keeps Getting Dumber

I just watched a Democrtic Congresswoman from New York on TV yapping away about how Barack Obama’s housing bill will stop home prices from falling.

Duh!

We got in this mess because government made too much credit available too cheap so every moron bought homes they could not afford under realistic circumstances and  HOME PRICES WERE DRIVEN TOO HIGH BY THE ARTIFICAL GOVERENMENT CREATED DEMAND, SO THAT NORMAL WORKING PEOPLE COULD NOT AFFORD A HOME

This moron Congresswoman is not alone. Everybody in Congress plus our Food Stamp President wants to lift up housing prices.

They just do not get it.

Government cannot mess with the free market without destroying everything.

At normal mortgage rates of seven percent, with a twenty percent down payment, there are no home buyers at today’s still too high prices.

The government manipulation of interest rates has screwed everyone who has savings. We cannot earn anything on our savings. Screw the food stamp a__holes! Reward the savers.

Kill the CRA Community Reinvestment Act that requires banks to make bad loans to unqualified buyers.

Home prices are too high and need to come down another twenty percent.

Obama, raise interest rates and require a twenty percent down payment to buy a house.

Obama, your policies are destroying any incentive for anyone to save, which means that every child in America gets further in debt to China.

HOME PRICES NEED TO COME DOWN ANOTHER TWENTY PERCENT, MORTGAGE RATES MUST BE SEVEN PERCENT, AND YOU MUST HAVE A TWENTY PERCENT CASH DOWN PAYMENT!