Question for Obama supporters
Senator Obama has ran a lot of local television ads advertising that “John McCain has voted in favor of tax breaks to companies that ship jobs overseas to China.”
Does anyone know how Senator Obama proposes to fix this problem or is it just empty rhetoric?
Mike Sylvester
Three stupid Democratic Senators
You just have to read this Reuters story.
Per this story three Democratic Senators want to do the following:
These three Democratic Senators want the “U.S. Treasury Department to set guidelines saying that banks receiving government capital injections should use the funds to restore their lending activities to levels prior to the credit crunch.”
How stupid are these three Democrats?
The credit crunch happened in part because banks made loans to people they should never have loaned money to. These three idiots want to force banks to keep lending money at the same pace they lent money at prior to the credit crisis. This of course means the banks will have to keep loaning money to people who cannot afford to pay it back.
This is STUPID.
If there is one person reading this post who thinks this is a good idea, please leave a comment.
How on Earth do these people get elected to the US Senate? Heck, how do they balance a checkbook?
Mike Sylvester
A couple of bad ideas from Barack Obama in the last couple of days
Barack Obama has made a lot of policy proposals in the last few days.
I want to focus on two that make no sense to me; both of which I feel are terrible ideas.
What are the Democrats doing in DC?
I am sure most of you remember how the Democratic Party ran on a National platform of fiscal responsibility in 2006. They promised to restore fiscal discipline in Washington DC and reign in the out of control spending in Washington DC. The Democrats have been in control of Congress for the last two years…
Well, they lied.
Major News in Indiana’s 3rd District Congressional Race
Fort Wayne Observed has a post up that deserves your attention!
Per Fort Wayne Observed the DCCC (Democratic Congressional Campaign Committee) has purchased $487,000 of television advertising to support Democratic candidate Michael Montagano.
You may also be interested in reading a post from our own Jeff Pruitt about his feelings that the DCCC would be supporting Michael Montagano financially.
It will be interesting to see how the Republican Party responds.
I think Republican Mark Souder will be re-elected; however, I think it will be by a very small margin.
Mike Sylvester
Obama’s newest tax ideas
Mr. Obama is at it again. He is proposing another set of proposals that are intended to benefit certain Americans.
Please read this article in the Wall Street Journal.
As most of you know I do not like the fact that an ever growing number of Americans are subsidized through the Federal income tax laws. These Americans receive more from the Federal Government in the form of income tax “refunds” then they pay into the Federal Government in income taxes. In my opinion this is just another form of welfare.
A little more about “sub-prime” loans and the recent economic “crisis”
Much of the current financial “crisis” can be blamed on the explosion on sub-prime loans. Sub-prime loans are those loans made to people who have a higher risk of default than those Americans who are considered “prime” borrowers.
Consider these facts:
- In 1994 5% of the home loans in the US were “sub-prime” loans.
- This rose to 9% in 1996.
- It rose to 13% in 1999.
- It rose to 15% in 2001.
- It rose to 20% at its peak in 2006.
Debt Nation, post two
This is the second post in a ten part series on the excessive debt our nation has.
The first economic problem I want to discuss is the amount of money the Federal Government owes on a cash basis.
The media and the Federal government like to talk about the National Debt on a cash basis rather than an accrual basis. Cash basis accounting tracks the actual money spent and does not take into account future liabilities. Small businesses often use the cash basis of accounting; however, the Federal Government forces most larger businesses to use the accrual basis of accounting.
On a cash basis of accounting the current Federal debt is just over 10.2 trillion dollars. You can see the exact Federal debt at the below link:
http://www.brillig.com/debt_clock/
More drivel from CNN and Daily Kos
You ought to read this drivel over at Daily Kos.
Political rallies are intended to energize those who come to the rally.
When Obama draws huge crows the media calls it inspirational. When McCain and Palin (Mostly Palin) draw large crowds it is incendiary.
Good grief.
Mike Sylvester
Senator John McCain embraces socialism during last night’s debate
John McCain is, and always has been a moderate Republican. He would have to be considered pretty close to the political center by any objective person.
Last night Senator McCain did what he could to ensure that he is defeated in the upcoming election. Senator McCain keeps trying to reach out to moderates and Democrats when he should instead be focusing on conservatives.
His commentsabout bailing out homeowners who cannot afford to pay their home mortgages sounds like something a socialist or fascist would advocate rather then a conservative.
He wants to take 300 billion dollars of the 700 billion dollar bailout package and use it to bailout out certain home owners and write off a portion of their mortgage principle and negotiate a 5% interest rate fixed rate loan.
In other words he wants to reward people who made bad decisions by borrowing money we do not have and using that money to pay down the principal of these mortgages and refinance them at lower interest rates then most Americans have.
Good grief.
Mike Sylvester
P.S. Yes, I am voting Libertarian for President. Bob Barr has my vote for certain…
