Archive for the ‘Obama’ Category

GM Solved My Credit Card Problem!

Friday, April 23rd, 2010

I was impressed this week to see a commercial proclaiming that GM had repaid loans from the American people five years early.  Very impressive indeed, and surely a sign of economic recovery that this huge auto manufacturer was able to dig out of a hole and pay back what they owe.

Well…  maybe not.

From Senator Grassley’s note to Treasury Secretary Tim “TurboTax” Geithner”:

General Motors (GM) yesterday announced that it repaid its TARP loans. I am concerned, however, that this announcement is not what it seems. In fact, it appears to be nothing more than an elaborate TARP money shuffle.

On Tuesday of this week, Mr. Neil Barofsky, the Special Inspector General for TARP, testified before the Senate Finance Committee. During his testimony Mr. Barofsky addressed GM’s recent debt repayment activity, and stated that the funds GM is using to repay its TARP debt are not coming from GM earnings. Instead, GM seems to be using TARP funds from an escrow account at Treasury to make the debt repayments. The most recent quarterly report from the Office of the Special Inspector General for TARP says “The source of funds for these quarterly [debt] payments will be other TARP funds currently held in an escrow account.”

<snip

In reality, it looks like GM merely used one source of TARP funds to repay another.

Wow!  This is a great idea and an example for all of us to follow.  Pay off your loans with a loan from the original lender.

In fact, from now on I plan to pay my credit card bill in total by using that same credit card…   no more worries about credit card bills for me.  They will be paid in full every month and it won’t cost me a dime.

Should be interesting to see how this plays out… perhaps there is a reasonable explanation.  If not, there is surely an explanation that will satisfy the kool aid drinkers among us.

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Feeling safer yet?

Tuesday, April 6th, 2010

Interesting policy shift by team Obama:

From AP – “The U.S. promises not to use nuclear weapons against countries that don’t have them.”

In related news, the US promised to not use fighters and bombers against countries that have no air-force, ships against countries without a navy, only bombs of equal or lesser size of those available to our enemy will be used in any engagement, and to be fair, we will only deploy an equal or lesser number of soldiers into an engagement or, in the alternative, we will allow our players to switch sides to even things up.

After all, war should be fair.

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There he goes again…

Thursday, January 28th, 2010

President Barack Obama believes in the pharaoh method when it comes to leading a nation, or at least as it was portrayed by Yul Brynner.

All he need do is say the word and the word becomes reality… “So it is written, so it shall be done“.

More than one year ago President Barack Obama proclaimed Guantanamo “will be closed no later than one year from now.”

Not might be closed, not we plan to close, not it is important we close, not targeted to close, not we hope it is closed, not barring any unforeseen circumstance beyond our control it will be closed…

No! “Will be closed no later than one year from now.”  Will be closed! So it is written, so it shall be done.

Not closed.

In August, President Obama commanded that a special high-value, detainee-interrogation group (HIG) be created to ensure appropriate handling and interrogation of terrorist suspects.  According to AP:

“The unit would be led by an FBI official, with a deputy director from somewhere in the government’s vast intelligence apparatus, and members from across agencies. It will be directly supervised by the White House, but the senior administration officials insisted the unit’s agency bosses will make operational decisions, not the White House.

Shouldn’t be too hard to pull together.  Need an FBI guy, some reps from other agencies, and a reporting mechanism to keep the White House in the loop.

I estimate it would take me no more than one week to pull together this team (but then, I am very good at managing projects and teams :-)

Seems like a pretty important team to pull together to close a major gap now that all of the Bush administration approaches to interrogation have been abandoned, so clearly President Obama would be on top of this and ensure this team is up and active and protecting the United States from the bad guys.

What’s that?  They don’t actually exist yet?  Did anyone tell the president? Oh, I see… no need.  All that matters is that something is announced… so it is written, so it shall be done!  Phew, this leading stuff is hard work.

Too bad though, since we’ve all ready had three attacks by terrorists here on US soil since President Obama was inaugurated, including the Christmas Eve Underwear Bomber.  An interrogation unit might have come in handy.

So it was with great interest that I listened to President Obama, during the State of the Union Address, tell us that:

(Transcript from FoxNews) – … we will double our exports over the next five years, an increase that will support two million jobs in America.

And the only thing I hear is “So it is written, so it shall be done!”

My bet, he hasn’t clue one how to accomplish this, will not even do anything more than talk about it or form some commission to talk about it, and will continue on his current path of reshaping our economy into the image of “fairness” that he believes is what America should be all about:  a dependency on huge government that will be tougher addiction to kick than tobacco and as damaging as sniffing glue as we evolve to a nation of drones with no real incentive to innovate because any rewards will be taxed (literally) to death to support a government infrastructure that will be designed to ensure a voting block that must keep Democrats in office to maintain the steady fix of free money.

May not be written, but certainly will be done…  unless we restore some balance of power in November.

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Money Laundering Chicago Style

Tuesday, January 26th, 2010

Was chatting about politics tonight during a long drive and one of the folks in our discussion made an interesting observation.

While there is populist support for punishing the banks who accepted tax dollars during the bail outs and continue to pay out big bonuses, we appear to be witnessing yet another political shell game from this administration.

This anger that President Obama is tapping into as a means to levy a special tax on these banks is blinding us to what is really going on here.

Think about it.

First they take tax dollars and pump the money into the banks to prop them up.  At the same time, nothing is done to restrict bonus pay outs; in fact, maybe nothing can be done if these are contractual obligations.

Next, as bonuses are handed out, demonize the evil bankers who are taking taxpayer money and putting it in their own pockets (a right reserve for politicians).

Then, levy a special tax to punish the bankers and get back some of those tax dollars.  But… this money isn’t the same money we gave the banks.

Oh no, this is a special tax that can be used to fund other programs.  If this tax hurts the banks to the point where they can not repay what they owe, well that would be unfortunate indeed.  But you can’t expect us to pay back tax payers with this tax, the two are unrelated.  Why your money is still owed to you by the banks… talk to them about it.

Pretty straight forward money laundering.

Our money goes into the banks, “tax” money comes out, a nice new revenue stream for whatever program the Dems want to support (I heard one actually pushing for the money to go directly from this tax to Haiti).  What happened to our money?

Don’t look at us, ask the evil bankers.

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Stunning White House Admission

Wednesday, January 20th, 2010

According to team Obama, Scott Brown did not win because of his ideas, his vision of America, or because people are sending a message to Obama, Reid and Pelosi..  no, it’s because Americans are frustrated and angry (and clinging to their guns and religion perhaps?).

Senior Advisor David Axelrod:

“The same forces that swept Obama to office in 2008 are still very much astride the country today. The same frustration among middle class Americans about the situation they’re in, they’re working harder than ever just to try and keep up.”

There you have it.

It was not his ideas.

It was not the color of his skin.

It was not his eloquent speeches.

It was not his great campaigning skills.

It was not that he was the right man for the job.

It was not that he brought change that we can believe in.

Barack Obama was elected president because people are angry.

Barack Obama was elected by a bunch of frustrated Americans who will vote for just about anyone who is not the incumbent or a member of the incumbent’s Party.  Heck, they would even have voted for Howard Dean or Al Sharpton at this point.

I guess he didn’t have a mandate for change after all…  Just another check mark next to the box labeled: “Anyone Else”.

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Obama ready to borrow $10B/year to give to “developing” countries

Thursday, December 17th, 2009

Let’s say you go to a rather generous banker and borrow a million dollars.  As a newly minted millionaire, you decide to be generous and give away all of your money.  No worries, next year you can just borrow another million dollars and give that away too.

You can do this over and over again because… you’re rich!

Except for one minor technicality.. you still need to pay back the generous banker… with interest.

Sound like a good plan to you?

Apparently President Obama thinks this is a logical and fiscally sound approach to global citizenship:

FoxNews - Secretary of State Hillary Clinton told reporters in Copenhagen the United States is willing to commit up to $10 billion a year by 2012, and would support a global fund of $100 billion a year to help developing nations deal with climate change, provided the nations here are willing live up to the ‘transparency’ demanded by the U.S.

$10 billion per year, money we do not have, paid to “developing nations”.  Like China… who just happens to be America’s generous banker.

So… we are promising to borrow money from China so we can send money to China and other developing countries so that those countries will agree to reduce CO2 emissions.

Nothing wrong with that plan…

No worries though… President Obama knows where he can get that money to pay back our bankers.  All us rich Americans, and our kids, and their kids, and their kids will be happy to pay a large chunk of our pay checks so that we will one day live in a world where people no longer live in fear of CO2.

In fact, we can all do our part here… please refrain from breathing out.  It’s not your fault really, you can’t help yourself.  As long as you breath out you release CO2 into the air and contribute to global warming.  No one is suggesting you stop breathing in… just don’t breath out.

Thank you for your support…

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Can the government create real jobs really?

Wednesday, December 16th, 2009

Let’s say you have five kids.  Four have jobs, one doesn’t.

You feel bad the fifth doesn’t have a job, so you take 25% of the income from the four employed kids and “hire” the fifth kid to do shovel ready projects around the house.

Does the fifth kid really have a real job now?  Is it self-sustaining?  How long before the other four kids get tired of paying the fifth kid?

Of course it’s not a real job…

When our government makes temporary jobs to hire people for shovel ready jobs, jobs that are not self-sustaining,  jobs that can only exist as long as people with real jobs are able to pay for these jobs out of their own pockets… these aren’t real jobs either.

The Pelosi controlled House has passed a “jobs” bill:

FoxNews - President Obama’s Democratic allies in the House have muscled through a year-end measure aimed at creating jobs through a second round of stimulus spending.

According to documents released by Democrats, the measure would cost $154 billion. But there’s also another $20 billion from the federal treasury to keep the highway trust fund afloat.

The bill is funded partly with unused money from the government’s unpopular Wall Street bailout program called the Troubled Asset Relief Program (TARP). The bill redirects $75 billion in that fund to infrastructure and job investments to further stabilize the economy.

Ummm.. wasn’t that TARP money supposed to be repaid to us after it was no longer needed to save the country from imminent ruin?

This is nothing more than transferring money from the pockets of those who have jobs to the pockets of those who don’t.

Not that it is a bad thing to help folks out, but wouldn’t they be better served by stimulating the private job market so that there are self-sustaining jobs out there?

How do we expect private industry to afford to hire new employees if they keep having to send more money to the government to hire government workers?

The method utilized by this Democratic controlled government is an anemic attempt to address unemployment in the short term that will result in a extended weakness in the economy, extended weakness in the real job market, increased debt and taxes, and ultimately inflation and high interest rates.

Other than that… a great idea.

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