Wednesday, February 25, 2009

Nice Speech Mr. Obama ...But....


How are you planning to pay for all of this Spending????

Egads... Obama's "can do" pep rally before Congress and the American people last night was well delivered etc., but honestly, it was more hope and change blah, blah, blah. Lots of words and promises and little substance. For goodness sakes he promises to cure Cancer!

All that was missing was the pom poms and 4th of July fireworks display!
And this was supposed to lift our doldrums?

I know he is trying to instill confidence - but words are not enough.
Uttering nationalistic rhetoric is not enough.
And please let's not equate being American, or supporting America with agreeing to Obama's policies.
Sure he re-iterated American pride - and I am all for that - but his administration's actions counter the "can do" attitude by continually focusing on handouts and bailouts.

The actions that this government has begun to take, and the ones they are planning, really will not help get us out of the mess they have built for us over the past decade (or more) with legislation for easy credit and a monetary and foreign policy that has been obviously detrimental.

Also, slamming CEO's that have abused their business finances is stupid especially in light of the fact that the government continues to fund them!

He talks about accountability and responsibility and so on, yet after spending over a trillion dollars there is now more spending is being laid out on the floor of Congress! $410 Billion more to be exact. With 9,000 different "earmarks" to be more exact. And, these are the very kinds of earmarks that Obama campaigned against and later said he'd veto. Honestly Mr. Obama ... money to finance astronomy in Hawaii?

These people in Washington have absolutely gone insane!
I want to know - how is all this spending going to be paid for?

Tax the rich you say?
Tax business you say?

and what happens when the business and the rich can no longer ante up and decide to close shop? Who pays then? The incentive to become rich and own a business will evaporate. Then what?

Then there will come a time real soon when the Chinese will not want to buy anymore of our debt. Then what? We just print more money? That's a good way to devalue US currency! But that's what they are setting us up for.

Another thing... the taxpayers are really getting sick and tired of bailing everyone out. Why should we all be expected to pay off everyone else's bills? One mayor's plan in Houston was to pay off homebuyers' credit cards so they could buy a house! Are you kidding me?

Yes, Mr. Obama we have a big problem, many big problems, and they need to be addressed now. But we cannot spend our way out of failed monetary policy.

Punishing businessmen in this country is not the way to prosperity.
Rewarding failing business is not the way to prosperity.
Expanding government is not the way to prosperity.
Making people more dependent on government is not the way to prosperity.
More government control over business and our citizens is not the way to prosperity.
Government giving us stuff is not the way to prosperity!

We need sound money and our families need to be able to keep more of their wealth.
We need government to stop raiding our paychecks so we can pay off our debts and accumulate wealth.
We need business to fail when they manage themselves like idiots. No matter how big they become.
We need people to keep more of their paychecks so they can put money away for a rainy day or for their retirements.
More money in individual's pockets should be put there by the individual - not by government.
Taking money from "Richie Rich" to give to "Sad Sack" is not government's function or right.

Yes, Mr. President, we are a "can do" country - so please let government get out of the way and let us "do" what we can do!

Let me end with something that I do support Mr. Obama on:
I agree that we need to have a comprehensive energy policy to launch us into better development and implementation of alternative sources. I applaud the Obama administration for promoting that.


========================

With regard to the speech - this comes to mind:





UPDATE: Stock Market Response ... perhaps it was something Mr. Obama said (or didn't say).

12 comments:

5kidsandadog said...

Yes, Exactly! How do you add up -millions+ -billions and equal +ANYTHING?? They need to make it much, much harder to get a credit card. Stop extending credit to high school and college students. Stop making going into debt SO EASY and push a good work ethic, earn what you spend. If a corporation has corrupt CEOs who spend, spend, spend, then let them go broke. I know it would mean serious financial problems for a while, but is it worse than where we are now? Businesses who are straightforward and honest are paying for and suffering for the greedy, corrupt ones. I recently heard Dave Ramsey talk about HIS plan to get the US out of financial trouble, and it sounds a heck of a lot better than Obama's. His plan is at http://www.biblemoneymatters.com/2008/09/dave-ramseys-solution-to-the-economic-crisis.html

Judy Aron said...

Stimulus Bill spending - interesting link here:
http://wsbradio.com/blogs/jamie_dupree/2009/02/spending-in-the-stimulus-bill.html

Jennifer said...

Here’s how it’s supposed to work: Humanity has known for centuries that the world is round. Therefore, if the economy tumbles down after falling into a deep debt hole, the solution is to dig even deeper until you tunnel completely through the Earth and climb out the hole again.

If a principle works in geography class, it applies to economics too. Right?

Anonymous said...

New definition of liquidity: You look at your 401K and pee in your pants.

Anonymous said...

I'm so disgusted right now. Where is the transpirancy and accountability of them in Congress etc? First the Trillion stimulus bill that 3 republican senators basically went to the Dems side to get it through. Gee I wonder how many earmarks they got etc.? Hmmm then there is the next new one that just came out. I would like to know how $500,000 to combat foot odor is going to help us feed our families or stimulate the economy, or hmmm how Pelosi's $30 million mouse project will too! This is a complete disgrace and they are arrogant about it too. They have no respect for the Constitution and the American people.

christinemm said...

Judy where can I find the numbers to the percentages of income that pay X amount of taxes?

I can't find them.

We keep hearing about the upper 2% of wage earners. What income is that in money?

Last night I heard a summary that said:

The upper 2% of wage earners pay 40% of total taxes.

The upper 5% of wage earners pay 60% of total taxes

The upper 50% of wage earners pay 95% of total taxes.

And some people who pay no taxes in the end have been receiving money back from the federal government through earned income credits etc.

I want more basic math done like if we raise the upper 2% of wage earners up X percent then that will yield an increase of X amount of dollars.

I can't believe with the stimulus package, the spending being discussed right now, and then the idea of halving the deficit and a promise of the 2010 budget having no pork that the dollars all add up. It can't add up that if the top 2% or top 5% of wage earners pay more taxes that ALL THAT would be covered. I can't believe it.

I'm not feeling that our government is being transparent yet. I feel like we're hearing more tricky words and even disagreeing on what is pork versus what is not pork. I see pork in the stimulus bill but the other night our President said there was no pork in it. I think I disagree with his definition of pork!

Judy Aron said...

Wow - you aren't feeling that the government is being transparent? Perhaps it is because they AREN'T.

We are being lied to.

As for getting the facts - maybe you should give your Congressional representatives a call and see what they say :)

I'll bet Ron Paul's office could tell you too. Or maybe Americans for Tax Reform.

Otherwise, just keep digging around and i will too.

motherbynature said...

"And please let's not equate being American, or supporting America with agreeing to Obama's policies."

I have an honest question. I haven't read the entire backlog of your blog, having only come across it recently. It's obvious you're no fan of the Obama administration and are big on constitutional issues, freedoms, etc.

From what I have read in your past posts, I haven't seen much in terms of similar criticisms of the Bush administration, who conducted some egregious non-constitutional acts, eroded many freedoms, kept so many secrets from the people, etc. I saw a few posts where you commented on some issues but never explicitly blamed the "Bush administration", where you are very quick to place all current problems on the shoulders of the "Obama adminstration".

Fair enough, I mean, obviously (I'm assuming) you're a republican. But I would expect that a true patriot, a true champion of the constitution would question all governments, regardless of party affiliations. I just haven't seen that equality of inspection to the Bush years. Have I just missed it?

I raise the question because the quote above from your post, "And please let's not equate being American, or supporting America with agreeing to Obama's policies", is precisely the kind of thing that Bush supporters had previously piled on Bush opponents, but in exactly the opposite fashion. If you didn't support Bush and his policies, then you were "un-American." And even if you didn't approve of Bush, you still had to show "respect for the office of the president" and so any criticism was looked at as unpatriotic.

Of course all Americans have the right to oppose Obama and his policies. That's freedom. It just seems to me that often, these are the same people who previously criticized the American who opposed Bush and his policies as being "unpatriotic", anti-American, disrespectful to the office, etc etc, and they don't seem to recognize the double-standard.

Your thoughts on this matter would be much appreciated. :)

Judy Aron said...

Thanks for your comment Mothermynature... Let me be very clear - I was no fan of the Bush administration's assault on Constitutional Rights Re: Patriot Act etc. I did not vote for John McCain. I believe that the Republican party has truly lost it's way insofar as it hasn't for a long time represented smaller government less taxes and restoration of sound economic and foreign policies.
That being said:
You are justified in your claim that I did not post as much in the past 2.5 years or so about the injustices of the Bush administration and that is likely because I really did not wake up to what was happening to our country until the election primaries and the "Ron Paul Revolution".
Let's just say I disliked what Bush did re: executive orders etc. as much as what Mr. Obama is doing to this country too. Had I known and understood then what I know and understand now, I certainly would have been more vocal about it.

christinemm said...

Judy here is the breakdown of the 2004 income levels and the taxes they paid. It is on the CBO site.

The summary table 2 has a nice breakdown.

http://www.cbo.gov/ftpdocs/88xx/doc8885/12-11-HistoricalTaxRates.pdf

This table addresses top 1%, 5% of wage earners, (and others). It doesn't have the magic number for top 2% which the news people keep quoting.

I note that the bottom 20% of wage earners which is 23.6 million people, makes pretax income of $37200 or less and pays zero federal taxes and in fact they get money back from the federal government in earned income credit.

And it is interesting to see the top 1% of wage earners makes over 1.55 million a year and that is 1.1 million people total, and they paid 38.8% of individual income taxes (27.6 percent of all federal taxes).

Also the top 20% of wage earners (anyone making over $231K) comprises 23 million people,
paid 86.3% of individual income taxes.

This is interesting to see laid out.

Anonymous said...

The proposed budget of President Obama predicts:

GDP growth:

2009 1.25%
2010 3.25%
2011 5.25%
2012 6.25%

That is what the budget proposals are based on, a percentage of the projected GDP.

If the growth is not that high the deficit will be larger than planned for.

Source: The Budget "A New Era of Responsibility"
http://i.cdn.turner.com/cnn/2009/images/02/26/fy10.budget.pdf

motherbynature said...

Thank you so much for your clarification, Judy. :)

I don't always agree with your views, but I have a lot of respect for people who are willing to question government no matter what their personal political stripes. It's hypocrisy I can't stand, even if it's hypocrisy on "my side".

It's always interesting to hear intelligent comments from the "other side". Knowing that you're not just another kneejerk "dems are evil Bush was the greatest" critic is very reassuring, thank you.

Oh, and your pic of Watson (waiting for his litterbox to be bailed out lol)? He looks just exactly like our Stuart, RIP. EXACTLY. It's quite startling to see Stuart on your blog!