The comedy show in the District of Columbia gets funnier every day. Yesterday, Treasury Secretary Paulson announced that he won’t use the $700 BILLION dollars to buy troubled assets after all. Instead, he will use all of the money to "invest" in companies. Paulson admitted that he knew that buying troubled assets wasn’t the right solution to the problem while the bill was being debated in Congress.
Regardless, this is going to cost us a lot more than $700 billion. According to Forbes.com, the U.S. government has already incurred a whopping $5 TRILLION of obligations in the various schemes by the Treasury, Federal Reserve, and Federal Deposit Insurance Corporation to shore up the financial system.
The list of companies standing in line to get a taxpayer “investment” is getting longer every day. AIG and GE Capital are going after their second round of hand outs. American Express and the grossly mismanaged U.S. Auto Industry are next.
Guess what is going to happen to the corporate executives who got us into the mess? Bloomberg reports that they are going to get big, fat Christmas bonuses. For example, Goldman Sachs has set aside $6.8 billion for bonuses while Morgan Stanley has allocated $6.4 billion.
To top it off, the Democrats are planning some nice surprises for us next year. Congress is holding hearings on confiscating our 401Ks and turning them over to the Social Security Administration. Of course, many of us are going to get stuck with a big, fat tax increase as well.
It just gets better all of the time…
Showing posts with label democrats. Show all posts
Showing posts with label democrats. Show all posts
Thursday, November 13, 2008
Friday, October 31, 2008
An Obama win next Tuesday, but how big?
Here are my predictions of what will happen next Tuesday:
Obama will win pretty easily. Early returns in Virginia will inform us how the night will go for McCain – a close loss or blow out. Right now, somewhere between 270 and 340 electoral votes seems likely.
The Democrats will pick up 25 or more seats in the House, but probably not more than 30.
The Democrats will not reach a 60 seat, filibuster proof Senate. However, it won’t matter because the GOP “leadership” in the Senate will pretty much cave in and go along with whatever Obama wants out of fear.
The Democrats will completely rule the roost for the next two years. My guess is that the GOP will remain in the wilderness even longer because there isn’t any Newt Gingrich on the horizon who can lead a GOP revival in 2010, no matter how crazy the Democrats get.
The GOP has screwed up big time over the last 8 years by losing site of what they allegedly stood for. They have been completely corrupted by power and have become worse than the Democrats on almost every single measure. Thanks to Bush, the GOP has now reverted to their pre-Reagan status as an irrelevant minority party parroting their pitiful “me too” liberalism.
The GOP deserves what is coming to them. Unfortunately, many of us don't deserve what we will get as a result.
Obama will win pretty easily. Early returns in Virginia will inform us how the night will go for McCain – a close loss or blow out. Right now, somewhere between 270 and 340 electoral votes seems likely.
The Democrats will pick up 25 or more seats in the House, but probably not more than 30.
The Democrats will not reach a 60 seat, filibuster proof Senate. However, it won’t matter because the GOP “leadership” in the Senate will pretty much cave in and go along with whatever Obama wants out of fear.
The Democrats will completely rule the roost for the next two years. My guess is that the GOP will remain in the wilderness even longer because there isn’t any Newt Gingrich on the horizon who can lead a GOP revival in 2010, no matter how crazy the Democrats get.
The GOP has screwed up big time over the last 8 years by losing site of what they allegedly stood for. They have been completely corrupted by power and have become worse than the Democrats on almost every single measure. Thanks to Bush, the GOP has now reverted to their pre-Reagan status as an irrelevant minority party parroting their pitiful “me too” liberalism.
The GOP deserves what is coming to them. Unfortunately, many of us don't deserve what we will get as a result.
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