The Die Are Cast

Well, the congress did it! They went ahead and passed what is certainly one of the largest, if not THE largest, spending bill in the history of our country. The $787 billion economic stimulus plan was passed in the House of Representatives by a vote of 246-183, without receiving a single Republican vote. In the Senate, however, three Republican senators (Senators Susan Collins and Olympia Snowe from Maine and Senator Arlen Specter from Pennsylvania) decided to vote with the Democratic majority of the Senate, thus giving the Senate the 60 votes needed to pass this emergency legislation.

I, and many others, have grave misgivings about the actions of the Congress this past week. My first complaint is that nobody seems to know what, exactly, is contained within the 1100 or so pages that make up this legislation. The final approved version of the bill was not completed by the joint House-Senate committee until Tuesday and was rushed into both houses of Congress for voting before most members of Congress really had a chance to even read the bill, let alone evaluate its possible problems. This was, by the way, in direct contrast to the way that President Obama promised the American people that business would be conducted during HIS presidency. "Complete transparency" was the term I believe he promised to use. The way this bill was brought about and voted on was hardly what any fair minded person could call "completely transparent."

My second problem has to do with the likely outcome of this action. Bear in mind that "our representatives in Congress" have elected to gamble what will surely wind up being over $1 trillion of OUR money on a plan which Vice-President Biden says has a 30% chance of failure. Think about that for a moment! Despite the fact that almost two-thirds of citizens who were polled said they were not in favor of this plan, our elected representatives, the very people who our supposed to represent our will and our interests, chose to vote for this plan anyway. They have take $1,000,000,000,000 and gambled with approximately a 1-in-3 chance that it will fail to do what needs to be done for this country and its citizens. THIS IS BEYOND IRRESPONSIBLE GOVERNING, IT IS ABSOLUTE IDIOCY!!

The third and possibly most disturbing problem is how much "pork" has been passed through with this spending bill. The Democrats have rammed through many pet projects that have nothing to do with stimulating our economy and improving the economic lot of most of the tax paying citizens of this nation. Any citizen who chooses to do so can read through the 1100+ pages to see all the individual "pork spending" in this bill. Some items, such as $58 billion for childrens' health care, may be worthy projects when our economic health is better, but it is a large expense that will do nothing to stimulate our economy. Other projects, like re-decorating government offices and changing our government fleet to a "greener" fleet are simply items that SHOULD HAVE BEEN POSTPONED during this current crisis. Tax breaks for small business and for individual taxpayers would do far more to stimulate our economy than increased government spending on pet projects.

At this point there is little that any of us can do about this legislation. If it actually does work and turns our economy around, I will be the first to congratulate President Obama on his inspired leadership in a time of crisis. If, however, this turns out to only make a bad situation worse, than I truly hope and pray that, in the 2010 elections, the voters will demonstrate their displeasure at the polls and vote out ALL the morons in Congress, including the three renegade Republican senators, and replace them with men and women, of whatever party, who will do their duty and represent the wishes and the interests of their constituents instead of their respective political parties.

B.O. (bailout)--America's New Stink

If you read my earlier entry of today, you already know how I feel about the AIG bailout. America has started down a long and slippery slope which can only end in bankruptcy all round. We have already bailed out AIG, and they have sure made the most of it, haven't they?? A couple of junkets to luxury resorts that most of us will never be able to afford, and now a proposed $500 million to pay its top management (the ones who screwed up in the first place) in advance so that they will not leave the company! Is America a great country or what?!?!?!

NOTE: For any reader who doesn't realize it at this point, the above is sarcasm. The whole AIG affair, in this blogger's opinion, is one giant BCS (Big Crock of Shit, not Bowl Championship Series, although I think the BCS is also a BCS!)

So, here we are. Lehman Bros. does not get a bailout, but AIG does. Who made that decision? What was the basis of that decision? What will any future bailouts be based on and who will make those rules? WHERE WILL IT ALL STOP?!?!

If we bail out GM, what about Ford and Chrysler? If we bail out the auto industry in general, what about the steel industry, the coal industry, food service, hospitals and medical care, etc., etc., etc.? I heard on the news while driving today that Congress is now, or will soon be, receiving bailout requests from cities and states. Starbucks profits are way down? Are we going to bail them out or risk doing without our Venti White Mocha Latte?!?! Can America survive THAT?!?!

We live in, or are supposed to live in, a free market society, where every company, big or small, can succeed and be profitable or fail and be replaced by a better company. I run a company with 65 employees. If my company would ever go under, 65 people would have to find another job, including me. But the government would not ever think of bailing out my company, nor should they. But, if General Motors or Ford or AIG or Starbucks can't compete successfully, then they too should be kicked to the curb and another company will fill their spot. Too bad, how sad!!

However, as a final thought, I offer this information. I am a small business owner, as I stated earlier. I, and thousands more like me, provide 80% of the employment in this country. If the government really wants to get some "bang for their buck" in the bailout department, take the several trillion dollars and distribute it to these businessmen as low interest loans. Those business people, who are used to working and producing a profit, will expand the economy and produce new products and services, increasing employment, and pay the money back to the government. That would leave our economy a hell of a lot stronger than flushing the money down the industrial toilet by giving it to people and businesses who have already proved that they can't make a profit.

By the way, if anyone in the government wants to bail me out, it will only take about $200,000.00, and I won't even take a luxury junket!! WHAT A BARGAIN!!