ANOTHER OBAMA DEATH BLOW TO THE ECONOMY?

Yes, the economy is showing some outward signs of improvement and for this I am grateful. Nevertheless, we are a long way from being out of the woods, other economic indicators are worrisome, and now Obama wants to turn loose a rise in housing interest rates and a tightening of money for housing loans. Plus, he wants to double the unemployment insurance payroll tax on businesses and he wants to “lend” $53 billion to states to bail them out of their pension problems, all while supposedly reducing the deficit.

I have to think that, as it was in Egypt, if all it takes is 19 days of protest in the streets to get rid of a President, we should all get on a plane right now and head for Washington. He has the Audacity to do these things to us and we all have the Hope that he’ll move back to Kenya… soon.

Obama wants to close down Fannie Mae and Freddie Mac over a five year period. I have to say that the lack of Federal oversight on the part of a horrible Congress directly led to the housing debacle that those two organizations created. It is difficult for me to understand how Chris Dodd and Barney Frank could be browbeating them into giving out loans to people who could not afford them and then for the Congress to blame those organizations for doing it. That being said, we all have to agree that the housing market was in an unsustainable and spiraling inflationary spin out of control and it was all being fueled by Frankfarter, Doddle and Waters, et al.

The proposed cure for all of this could well be worse. We have tons of foreclosures going on and no bank is selling or financing;  unemployment and underemployment are making it impossible for anyone to buy a house anyway. Further drying up of available financing by forcing Freddie and Fannie to close up shop can only lead to three things: higher interest rates, tighter loan requirements, and the ultimate total collapse of the housing market. I’m no brain surgeon and I can figure that out. Nevertheless, that’s what Obama wants to do.

For months, business has been battered by declining revenues, the question about abolition of the Bush Tax Cuts, ObamaCare and a seemingly endless parade of other terrific Obama initiatives. With the extension of the tax cuts, businesses felt at least some sigh of relief, but now the illustrious Messiah wants to raise the payroll tax to make up for the costs of unemployment claims. Duh? What enthusiasm was starting to develop in the business world has just been doused by millions of gallons of bad and very briny water.

Like a bull in the proverbial China closet, Obama twists and turns and decides we should spend another $53 billion to help the states because…. They can’t print money like Obama can and they are all facing financial ruin unless they can find some alleviation of their predicament. They have declining tax revenues, higher social needs, high costs due to ObamaCare, dozens of new unfunded mandates, and payroll pensions with built-in escalation clauses. Their cavalier high spending over the years has mimicked Washington’s and it’s now time to pay the piper. Obama wants to let them off the hook, bail them out with more of our money so that state workers, mostly union members, can retain their pension plans while the rest of the country goes over the cliff.

And, speaking of the cliff at the edge of the abyss of debt, Obama is truly the man whose lips you need to read; forget about George H.W. Bush!

Every day that goes by reveals to a greater detail what a bad decision this country made when it elected this jackass to be its President and then stacked the deck with a bunch of liberal weenies in Congress. We Americans still have a mountain of work to do in the next two years, and we’d better roll up our sleeves and get to it. 

That's MY AMERICAN OPINION, respectfully submitted.