Archive for the Category » govt. economics «

April 25th, 2010 | Author:

Well, not exactly, despite all the TV ads to the contrary.  As near as I can figure out from the Forbes article, the numbers look like this:

Uncle Sam gives GM $49.5 billion: $6.7 billion loan @7% interest + balance as purchase of 60.8% equity in company.

Uncle Sam puts an additional $13.4 billion in GM’s escrow account during bankruptcy.

In my math-challenged mind, this means the taxpayers have forked over a total of $62.9 billion.  (This does not include the $9.5 billion that Canada  “invested.”)

So how much of that $62.9 billion has GM “repaid?”  The initial $6.7 billion loan.

But … they need more money.  Knowing that another bailout would be less than popular, they’ve applied to the DEC for a $10 billion loan – at 5% interest, 2% less than the loan they just “repaid.”

As Forbes so succinctly put it:

In short, GM is using government money to pay back government money to get more government money.

If you or I tried this, 1) we’d call it refinancing, and 2) we’d get arrested.

Reality Check:. Because a billion has nine zeroes here in Amerika, I’ve used the” billion” word like the government does.  They do it to make it look like a smaller number.  I did it because if I typed it out each time, this post would be too long.  But here’s what it looks like just once:

1 billion = 1,000,000,000

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April 24th, 2010 | Author:

Hat tip to Bluegrass Pundit.

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April 06th, 2010 | Author:

There are categorically no such thing as ‘death panels’ in the health care reform, we were told repeatedly.  Sarah Palin was castigated for posting about this issue.

But there seems to be a little more openness about this issue now that the bill has been made into law.  Listen.

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January 20th, 2010 | Author:

There’s an old saying that I’ve always been quite fond of:

A committee is twelve people doing the work of one.

Thanks to the brains in Washington, we’ve got another one.  The Post reports:

Faced with growing alarm over the nation’s soaring debt, the White House and congressional Democrats tentatively agreed Tuesday to create an independent budget commission and to put its recommendations for fiscal solvency to a vote in Congress by the end of this year.

Under the agreement, President Obama would issue an executive order to create an 18-member panel that would be granted broad authority to propose changes in the tax code and in the massive federal entitlement programs — including Medicare, Medicaid and Social Security — that threaten to drive the nation’s debt to levels not seen since World War II.

Only in Washington would you try to solve a budget problem by hiring more people.

Only in Washington would you need eighteen people instead of the standard twelve.

Only in Washington would those eighteen people be issued the “broad authority” to … propose changes.

Only in Washington.

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January 03rd, 2010 | Author:

The stench of death is everywhere for those who bother to notice.

  • Our economy cannot help but collapse at some point under the weight of a national debt over $12 trillion, or almost $40,000 for every man, woman, and child.  This number continues to increase at an average of $3.81 billion per day, and someday the Chinese will either quit investing in a losing proposition – or they’ll own it outright.
  • Al Quaeda has won the war on terror.  You won’t see that headline on the nightly news, but you can read an excellent article on the subject by Fred Reed.  Granted, the man is more than a little crude, but he’s honest in pointing out that the goal of a terrorist is to terrorize.  On that point alone, they have won hands down. [HT to Jim.]
  • So little is necessary to terrorize the world’s hyperpower. A free-lance dingaling secretes a bomb of sorts in his shoe, whereupon the US goes into convulsions and long lines of Americans stand comically barefoot in airports. Dingaling Two popularizes liquid explosives, and so Washington frenziedly confiscates toothpaste. Yes, the world’s hyperpower is afraid of Colgate, with fluoride. Dinglaling Three hides the infernal machine in his skivvies, so Obama makes Firm Pronouncements, and we will now have to undergo examination by panty scanners. Always, over and over, the terrorists have the iniative. The country reacts hugely and predictably.

  • We routinely kill and maim innocent men, women, and children all over the world, and can’t even be bothered to keep a tally, because as General Tommy Franks said, “We don’t do body counts.”
  • We have murdered over 50 million innocent, unborn babies in this country calling it choice, when in actuality it’s a result of the demand for freedom from the consequences of our personal actions.
  • The Bill of Rights is swiss cheese.  We willingly submit to arbitrary searches at airports, train stations, and driving anywhere within 100 miles of an external border – which includes more than 2/3 of the population; we have politically-correct hate laws to prevent Christians from speaking the truth of scripture; our every electronic transmission from private phone calls to internet searches are arbitrarily monitored and sold to the government; we need “permits” to gather in protest of the latest government outrage;  habeus corpus and the Posse Comitatus Act have become quaint historical traditions; and the list goes on.
  • Government officials at every level have run amok.  They ram every imaginable law down the throats of an unwilling populace; they defend bribery, blackmail, and coercion as normal political practice; and their personal, financial, and sexual “scandals” have become commonplace.

So how did this happen?  Why is America dying?

We can blame the public school system that is hell-bent on indoctrinating our children with feel-good, anything-goes secular humanism, but neglects the Constitution, the Bill of Rights, and the historical significance of these documents.

We can blame big business, who courts corrupt politicians to pass laws to give them an unfair advantage over the competition.

Or we can blame the power-hungry politicians, who care not about the people they are elected to represent, but only about their own positions.

Or … we can look a little deeper and recognize that the above are just symptoms of a much deeper problem, one that we have been warned about from the beginning:

… there is no truth more thoroughly established than that there exists in the economy and course of nature an indissoluble union between virtue and happiness; between duty and advantage; between the genuine maxims of an honest and magnanimous policy and the solid rewards of public prosperity and felicity; since we ought to be no less persuaded that the propitious smiles of Heaven can never be expected on a nation that disregards the eternal rules of order and right which Heaven itself has ordained; George Washington, his first inaugural address, 1789

We have no government armed with power capable of contending with human passions unbridled by morality and religion . . . Our Constitution was made only for a moral and religious people. It is wholly inadequate to the government of any other. John Adams, speech to the military, 1798

Not until I went into the churches of America and heard her pulpits aflame with righteousness did I understand the greatness and the genius of America . . . America is good. And if America ever ceases to be good, America will cease to be great.” Alexis de Tocqueville, Democracy in America, 1835, 1840

Above all, I know there is a Supreme Being who rules the affairs of men and whose goodness and mercy have always followed the American people, and I know He will not turn from us now if we humbly and reverently seek His powerful aid. Grover Cleveland, Second Inaugural Address, 1893

We do not need more national development, we need more spiritual development. We do not need more intellectual power, we need more spiritual power. We do not need more knowledge, we need more character. We do not need more law, we need more religion. We do not need more of the things that are seen, we need more of the things that are unseen. Calvin Coolidge, President 1923-1929

The basis of those ideals and principles is a commitment to freedom and personal liberty that, itself, is grounded in the much deeper realization that freedom prospers only where the blessings of God are avidly sought and humbly accepted. Ronald Reagan, speech 1983

This sampling of wisdom is based, of course, on the Bible – that same Bible that is largely rejected or ignored in today’s America.  The latest evidence of this fact, and the one that prompted this post, comes from a recent Rasmussen poll.  These answers cannot come from Christians who put their faith in God.

National Survey of 1,000 Likely Voters
Conducted December 30, 2009

By Rasmussen Reports

1*Some people say that there is a natural tension between protecting individual rights and national security. In the United States today, does our legal system worry too much about protecting individual rights, too much about protecting national security, or is the balance about right?

43% Legal system worries too much about protecting individual rights
17% Legal system worries too much about protecting national security
28% Balance is about right
12% Not sure

2* In light of the recent attempt to blow up an airliner as it was landing in Detroit, should the United States take full control of security measures at foreign airports so that anyone flying to the U.S. would have to go through U.S. security?

54% Yes
29% No
16% Not sure

3* Should the attempt to blow up the airliner be investigated by military authorities as a terrorist act or by civilian authorities as a criminal act?

71% By the military as a terrorist act
22% By civilian authorities as a criminal act
7% Not sure

4* Should waterboarding and other aggressive interrogation techniques be used to gain information from the suspected bomber?

58% Yes
30% No
12% Not sure

5* How do you rate the U.S. government’s response to the attempted airline bombing – excellent, good, fair or poor?

5% Excellent
29% Good
27% Fair
35% Poor
4% Not sure

NOTE: Margin of Sampling Error, +/- 3 percentage points with a 95% level of confidence

Whether you agree or disagree with the majority, understand that these attitudes do not reflect Christianity.  They do not reflect the Constitution or the Bill of Rights.  And ultimately, God will give us what we ask for.

If you will fear the LORD and serve Him, and listen to His voice and not rebel against the command of the LORD, then both you and also the king who reigns over you will follow the LORD your God. If you will not listen to the voice of the LORD, but rebel against the command of the LORD, then the hand of the LORD will be against you, as it was against your fathers. (1 Samuel 12:14-15)

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