Wednesday, October 8, 2008
Bail Out Disaster
I’ve waited a few days to see hoe the bail out was going and it is tracking just like a thought. Congress spent our money to bail out an industry that bankrupted itself by not following its own traditional rules. This behavior in handing out loans to people that normally would not qualify was spurred on by legislation in the Carter years, put on steroids by Clinton and allowed to fester under Bush. We are now left with the Democrat congress covering Raines Gerlock and their own culpable behinds by not conducting any real hearings especially since so many Democrats did nothing but obstruct any oversight attempts over the last four years.
So what are we left with, an 850 billion dollar bill that we cannot pay for by any stretch of the imagination. We will see high inflation by the end of the year and a massive jump in unemployment and a huge slow down in many areas of the economy. Yet we have the Obama Messiah and to a lesser degree McCain talking about spending even more money that we do not have.
There needs to be an immediate cap on all government spending at Federal, State and local levels. In fact there should be a ten percent reduction in spending at all levels. This will free up money to start the pay down of the enormous budget deficits at all levels of government and will allow money not wasted by these idiot elected officials to flow back into the private sector to grow jobs and the economy.
It’s a damn shame that the only people that are truly screwed in all of this are the taxpayers and homeowners like myself who work hard and bought houses on fixed mortgages that we could afford. This is not a racial issue that many of the left claim it is, it’s not racist to deny credit to people who are high risk. Home ownership is not a right, it is a goal that is out their for anyone who wants to work for it. When you here politicians like Obama talk they actual want you to believe that it is a right. They are simply wrong, life is full of choices and if you make bad ones you must bear the reasonability when events go south. The government should not be in the business of bailing out people and business’s for their own mistakes.
Obama and his advisors are a disaster waiting to happen I just hope enough people wake up in the next month.