Showing posts with label finance reform. Show all posts
Showing posts with label finance reform. Show all posts

Tuesday, August 23, 2011

Do We Thank The Liberals? I Think Not!

The following appeared in the Beaufort Gazette on 8/23/2011 -

Today's many benefits brought to you by liberals

Published Tuesday, August 23, 2011
 
Let's share a day in the life of an American. We'll call him Ken.

Ken wakes. His breakfast and medications are safe because some socialist liberal fought to make them so.
Ken walks outside and breathes deeply. The air is clean because some environmentalist wacko demanded laws to stop industrial polluting. He has a job with medical benefits, retirement, holidays, and vacation because of some lazy liberal. If Ken is hurt or loses his job, he'll get worker's compensation or unemployment because some bleeding-heart liberal didn't want him to lose his home because of temporary misfortune.

Ken makes a bank deposit. It is federally insured because some godless liberal wanted to protect Ken's money from unscrupulous bankers. Ken has a student loan because an elitist liberal knew he would benefit if he were educated.

Ken takes the federal interstate to visit his father's farm. It was financed by the Farmers' Home Administration because bankers wouldn't make rural loans. The house didn't have electricity until some latte-drinking liberal fought for rural electrification. Ken's father is retired and has Social Security and Medicare because some quiche-eating liberal fought for them.

At home, Ken listens to his favorite radio host ranting endlessly that liberals are destroying the country. He doesn't mention the reactionaries who fought against every benefit Ken has enjoyed today.

Ken agrees: "These big-government liberals are ruining us. I'm a self-made man. I take care of myself. I will write a letter to the editor bragging about my independence."

Dean Dizikes
Hilton Head Island

This is my reply:

Let's expound on the day in the life of Ken.

Ken wakes in a free Republic to enjoy food provided by Capitalist Farmers and Big Business Corporations which is made more expensive by over taxation and regulation.  Food could still be made safe and cheaper of the Liberal Congress gets out of business's way, thus saving Ken thousands of dollars a year

His medications are safe because the pharma companies reinvest their profits and shareholder investments into research and development made affordable through tax credits made by Republicans.

Ken enjoys clean air despite attempts by progressive lobbyists seeking loop holes for their clients.  These lobbyists were blocked by Fiscal Conservatives who also relaxed regulations.  The regulations being relaxed allowed Ken's employers to increase wages and benefits and lower the cost of their product, thus increasing production and creating new jobs.

He enjoys the fail-safe of workers comp and unemployment insurance because Fiscal Conservatives cut unfunded entitlements as well as pork projects, to ensure funding is secured and the budget is balanced.

Ken enjoys a good return on his bank deposits because Capitalist Bankers seek a good interest rate for their clients and investors, supported by the Republicans who advocate a pro-business environment with less regulations.

However, Ken is burdened with an expensive student loan and stuck in an inferior job which does not match his education level.  Unemployment is listed at 9.4%, but in reality is closer to 16% overall and job growth is stagnant.  He cannot find a job to match his education level in this economy stifled by a devalued dollar caused by Quantitative Easing and a high deficit.

He visits his father's farm on a road full of pot holes and ruts because the FHA forced a road on a community that could not afford the maintenance on their meager budget.

The utilities his father's farm enjoys is brought to him by a corporation seeking to expand their customer base.  They would have arrived sooner had the Democrats & Progressives in Congress not imposed so many road blocks and regulations.

Ken's father enjoys his Social Security benefits because he paid fully into it all of his life.  He just wishes Medicare was not mandatory, he can get a better plan from a private insurer.  But, if he were to do that, he would lose the Social Security he has paid  a lifetime for.  Now, he is dependent upon Medicare, that most of his current doctors are dropping after the passage of Obamacare.  Worse, his father has not seen a Social Security Cost of Living increase in over 2 years, while Congress and their staff got pay raises and Stimulis Funds paid for bonuses to GE & GM, courtesy of a Democratic Congress and politicians who raided the Social Security "Lock Box".

Ken enjoys his Conservative radio show and knows the host is right, because:

1 - Food would be cheaper and just as safe if government stopped over-regulation and lower taxes on business.

2 - Medication would be available sooner and cheaper if the FDA streamlined approval and allowed generics into the system sooner.

3 - The air is clean because technology has advanced and utility standards have self-policed in advance of and in spite of government over-regulation.

4 - Job benefits and wages are at a record high at Ken's job, because employees have voted to keep unions out.. This allowed the employer to place more wages into the employee programs and lower productions costs. Lower production costs led to increased sales & production, resulting in the creation of new jobs and plant expansion.

5 - If Ken becomes unemployed, he faces the real threat of losing his home, because Obama's HEMP Program does not work.  Only 12% of the people who applied have been approved.  Conventional mortgage refinance programs are scarce due to the current financial situation and not likely to improve soon.

6 - His bank notified him that the Democratically controlled Congress has decreased the amount insured by the FDIC.  His savings are at risk.  In addition, the same Congress has enacted Financial Reform which will allow the banks to increase account fees.  Free checking will be a thing of the past.  Worse, the same Democrats have proposed and are trying to enact a Financial Transaction Legislation that will impose a 1% transaction fee on ANY monetary transaction.  This will include deposits, withdrawals, interest earned and ANY purchases, including groceries and gas.

7 - Because the government is desperately seeking revenues, they are agressively seeking repayment of student loans and addressing unpaid taxes.  Now Ken finds his wages garnished to satisfy the loans outstanding.

8 - The garnishment of Ken's wages means he can't pay his mortgage and his home is in foreclosure.

9 - The FHA forced a un-needed road on a rural community that is now in disrepair, the local government must float a bond of $5 Million.  This will increase the property millage rate by 1%.  Ken's father is not too please to learn his farm tax bill will increase by $5,000 per year.

10 - New EPA regulations on utilities, that far exceed industry standards have increased cost productions, forcing the utility to increase rates.  Ken's father sees costs of energy to his farm increase by at least $1,000 a month.

11 - Due to overall increase of cost production, supplies and new taxes Ken's father decided to sell the farm at a loss.  With the economy's dramatic drop in property value, the sale enables him only to repay the mortgage, with very little profit.  He is solely dependent upon his Social Security for his daily living.

12 - Obamacare being enacted, Ken's father sees his monthly Medicare payments almost double, which takes a substantial chunk of his meager Social Security check.  Private insurance would be cheaper, but if he purchases the insurance, Social Security will cease all payments. Congress married the two programs and they are mandatory.

13 - Unable to make ends meet anymore, Ken's father moves in with him.  Meanwhile, Ken is laid off because the Obama Administration and the NLRB won their case against Boeing, causing the plant to close.

So much for Liberal do-gooding!

Ann Ubelis
Lady's Island

Friday, July 22, 2011

The Audacity of Arrogance!

For my more than half century alive on this globe, a proud citizen of these United States of America, have I ever spoken derogatorily of a sitting President, until this past year.  Listening to President Barak Obama tonight (July 22, 2011) speaking about the failed budget talks raised my already high blood pressure through the roof.  First, he created a straw man to blame this crisis upon, then rip the straw man or should I say men down.  I think I detected an Irish jig being danced by our Commander-in-Chief on the effigies.  The straw men were the Republicans in the House, the Tea Party Caucus, the independent Tea Parties nationwide and Speaker John Boehner.  Secondly, he erected Bogeymen, resurrecting the Tea Party and Speaker Boehner to become the intended hated target.  Shame on them for wanting to decrease the deficit and prevent our nation from becoming the next Greece. Lastly, he named the victims of these horrible Bogeymen, the military service members and senior citizens Social Security recipients who wont be paid in August.  I hear Representative Joe Wilson in the back of my head shouting "You lie!".

What precipitated this massive meltdown?  The walking out of Speaker of the House John Boehner from budget negotiations created this episode.  President Obama "demanded" an additional $400 Billion in tax increases above and beyond the concessions that the Republicans already offered.  Along each step of this process President Obama has "demanded" from the Republicans one concession after another, without providing a written plan which can be graded by the Congressional Budget Office (CBO).  In fact, for  2 1/2 years a Democratic held Congress consistently failed to pass any budget.  In his letter to fellow Congress members following the breakdown in the talks, Speaker Boehner wrote; "A deal was never reached, and was never really close."

Did Speaker Boehner leave President Obama at the altar? No, President Obama never even entered the church!  Arrogance, you ask? Yes, King Obama "ordered" members of Congress to be at the White House at 11am tomorrow! Ordered? Demanded?  Last I looked we are a Republic of "equal and separate powers", executive, legislative and judicial.  After the temper tantrum of King Obama, Speaker Boehner stepped forward gentlemanly, explaining the differences calmly and said he would be at the White House at 11am tomorrow and continue to work toward a final budget bill.

Mr. President, that was egg Mr. Boehner wiped off of your face.  Until you succeed in finalizing the socialization of America, remember that is not a throne behind the desk in the Oval Office.  I foresee a long 18 month ahead!

Thursday, May 20, 2010

Kiss Your Wallets & Credit Lines Good-Bye!


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As the stock market melts down once again, Congress and our President just don't get the picture.  Once again, the Senate creates a legislative nightmare of Finance Reform totaling more than 1700 pages.  Haven't these Senators, who feel they are far more superior in intellect than the average voter, learned from the Boondoggle called Health Care Reform?  We still don't fully understand what is in that debacle and day by day, we learn more and the picture just aint right! (I know, aint aint a word!)

What makes me really mad, everyone fought hard to put Scott Brown in Ted Kennedy's seat, and now he's turned his back on our voices and voted to bring this monstrosity to the floor.  No wonder why Harry Reid is crowing he has the votes to pass this act.  Thanks Scott!  Keep this up and there will be no second term, we promise you!

We need to step up our game and let our Senators know, we don't want this bill!  We want sensible reform that includes Fannie and Freddie Mac.  If you want to curb wild swings in the market, you need to look at the automated computer penny traders that are not regulated.  Stop the "To Big To Fail" policies.  Don't try to legislate and regulate every single transaction in the business world, which includes any agreement I make personally with a company I owe money to and our repayment schedules.  Small banks will fail because of the massive regulation that will be imposed.  If you thought you have a hard time getting credit now, just wait until this beast hits!

There will be unintended consequences in this bill.  If JP Morgan and Goldman Sacks are salivating over this bill, then I for one believe, we better take a long look at it, there is definitely something wrong here! 

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Stop Finance Reform now!