What the future needs!

I'm beginning to think that our current President, like our last one, is a complete idiot.

Today's Downsizer Dispatch from DownsizeDC.org: House Majority Leader Steny Hoyer wants to raise your taxes. Send your Representative and your two Senators a letter rejecting this idea. You can copy or borrow from my letter . . . Here's what Steny Hoyer said at the Brookings Institution on Monday, March 1: “No one likes raising revenue (increasing taxes), and understandably so, but if you’re going to buy, you need to pay." I've got a better idea -- don't buy! Millions of Americans have had to cut their expenses because of the economy. Their prudence is fruitless if you raise their taxes to pay for YOUR orgy of spending. And please don't tell me that you're going to tax the rich, and NOT me. Rich people don't spend most of their money -- they invest it to create jobs! That's how they got rich. So the more you tax them the fewer jobs there will be. YOU don't create jobs, rich people do! Instead, you destroy jobs with high taxes and w...

A good summary article from the Washington Times, includes this: It's sometimes tough to see how the jobs math adds up. The administration has estimated that the $862 billion stimulus act would create up to 3.5 million jobs, which would seem like a bad deal if a $15 billion highway funding extension could create 1 million jobs alone, as Mr. Reid has said on the Senate floor. Mr. Reid also has said a health care overhaul "would create 400,000 jobs a year," and that his travel promotion bill "will create tens of thousands of jobs in the service industry."

Via The Hill : “No one likes raising revenue, and understandably so,” Hoyer said in an address at the Brookings Institution. “But if you’re going to buy, you need to pay. If need be, I am hopeful that both parties will agree to look at revenues as part of the solution — not as a gateway to higher spending, but as part of a compromise that cuts spending and balances the budget,” he added.

Partisan hypocrisy and media failure about PAYGO.

Via Ron Paul: Perhaps most sinister are the revelations in Robert Auerbach’s book “Deception and Abuse at the Fed” that $5.5 billion was sent to Saddam Hussein in the 80’s - money that allowed Iraq to build up its military machine to fight Iran prior to the first Gulf War, the very machine turned against our brave men and women within just a few years!   I agree with Bernanke’s characterization of this – it is indeed “bizarre” to think that Americans at the Federal Reserve could engage in this type of behavior, which a some have called “criminal”.   However, Professor Auerbach served as a banking committee investigator, and as an economist at the Treasury Department and at the Federal Reserve.   His claims are hardly without merit.   In fact, they are solidly backed by court rulings and other evidence.  

Via Ron Paul: I asked Chairman Bernanke about Federal Reserve agreements with foreign central banks and if he had had any conversations about bailing out Greece, which he flatly denied.   However, he recently announced that the Federal Reserve will be looking into Goldman Sachs’ derivative agreements with Greece.   Goldman Sachs, as we know, has “too big to fail” status with the Fed, so it is conceivable that any Greece-related catastrophic losses at Goldman Sachs will once again be passed on to taxpayers.

Via Ron Paul: Instead, the State Department is building a $1 billion embassy in London, the most expensive ever built.   The plans even include surrounding it with a moat!   I asked the Secretary of State about this massive expenditure, and she claimed the funds for this were coming from the sale of other properties.   If money can be saved, then save it!   Don’t spend it on such an extravagant structure overseas when people back home can’t find jobs or pay bills.   Not only that, but the administration has committed to doubling foreign aid.   That is one promise that is likely to be kept, despite our economic crisis.

A secret form of government growth.