Major Concerns About Bailout Plan

Tonight I was watching"Hannity and Combs", and of course the topic of the evening was the $700 billion bailout plan. There are some of the details of this plan that are just so disturbing. One of the biggest things that is driving me so crazy about the democrats is that they want to renegotiate people's mortgages who are in foreclosure. This bothers me because, what about all of those people who have been responsible by paying their mortgage's on time every month and have been hit just as hard as anyone else has been by this economy. There are lots people just like my parents who have lost lots of value in their homes but are not in foreclosure. These people are paying higher gas prices too, they are paying higher grocery bills as well, and they have watched the value of their homes plummet. So my question to Capital Hill is, are these responsible people going to be brought to the renegotiating table along with all of those irresponsible people, so that they can get a lower mortgage payment as well.

When I here these democrats talk about this issue it almost sounds like they think home ownership is an entitlement and not a privilege. This way of thinking is what got us into this mess to begin with. The reason the financial institutions are failing is because poor people bought houses they could not afford. Now, the taxpayers are being asked to solve these people's problems. I don't even own my own home, so why should one dollar of my tax money go to help someone else buy their home. It's just not fair. They should loose their homes and learn a valuable lesson. And that lesson is, don't borrow more than you can payback. Next thing you know, this bill will include paying their credit cards.



The next part of the bill that I don't like at all, is that the government is going to buy all of the bad paper. All that is going to do is increase the size of our government. The new branch of government will be the real estate department and they will be in charge of selling these houses. Come on people, wake up!!! The government is inefficient in every way. There will be tons of waste which the money will never get back to us and there will be lots of back door deals.



The government can set up an insurance fund for these companies. The companies can pay a premium to the government. Also the government can provide these companies with loans to get them through these hard times which they can pay back to the government with interest. And the banks should keep the bad paper!!! They should cancel out capital gains tax in order to attract more investment which will stimulate the economy and create more jobs.



I don't believe Nancy Peloci's totally out of line speech that she gave right before the vote, is what caused the failure of the bill. This bill goes against our capitalistic country and that is why the republicans did not vote for it. Actually the democrats are playing games because they have the majority which means they can pass the bill without the republican vote. They want to take credit if the bill works and if it is successful but they also want to be able to blame the republicans if it does not work. That is why they want the republican vote so badly.

So with all the games they playing they are still pointing fingers. Amazing!
http://www.youtube.com/watch?v=UVVVzEKauzY
http://www.youtube.com/watch?v=D-n5nkRKsWk
http://www.youtube.com/watch?v=usvG-s_Ssb0
http://themountainsage.wordpress.com/2008/09/17/mccain-called-for-reform-of-freddie-mac-and-fannie-mae-in-may-2006/

Days After The Debate

Wow, Wow, I don't know what else to say after seeing the polls today! You should have seen the look of shock on my face when I read Obama was up 50% to McCain 42% in the Gallup polls today. It was priceless! All day today when I watched the news, I was just confused when I heard people say that Obama did better than McCain.



One thing that especially surprises me, and actually quite annoys me is when hear commentators say that Obama is stronger on the economy. I would like to hear one thing that Obama has done that makes him more qualified than McCain on the issues of the economy. I don't know, maybe it's just me, but what I've been hearing from Obama is that he plans on introducing $1 trillion of new spending when he takes office. He plans on raising taxes on all of the biggest corporations that provide tons of jobs, create new jobs and spend billions of dollars in our economy. Also he says he is going to raise social security tax on everyone including the middle class, he is going to raise the death tax and he is going to to double the capital gains tax. After all of this, he looks in the cameras with a straight face and says quote "I am going to cut taxes for 95% of Americans".



Obama must think we Americans are as naive as he is on these issues. First of all 41% of Americans don't even pay income taxes, so he can't cut what they don't pay. He is really going to give people a rebate check any where from $500 to $1000 depending on how much they earn. Which he hasn't said whether or not he will continue to give that rebate check every year. That is not a tax cut! Also, if you look up his voting record, he has voted four times for higher taxes on people earning $42,000 year. Second, by raising taxes on big corporations is in essence the same thing as raising taxes on the middle class and the poor. Why? Because they will just pass the added cost on to us, the consumers. Which will also have a great effect on small businesses. Third, doubling the capital gains tax will put great strains on our economy by scaring away investments that is needed in order to grow our economy. If anything, capital gains tax should be cut to zero.



On the other hand, McCain wants to cut taxes across the board. He wants to cut taxes for big business which will help to keep the costs down on the stuff we buy everyday. It will help to keep jobs here in America. McCain will cut capital gains tax which will attract more investors which will help to grow the economy. McCain will cut government spending which is the complete opposite of his counterpart.



So, I guess for people who think that big expensive government that does everything for the people is good, than I guess Obama is the best choice them. But if your someone who understands that nothing is free, everything comes with hard work and accountability is important than McCain is the best choice for them.

Debate

I have to admit that before the debate I was a little nervous about how McCain would perform. Really, I thought it could go either way.

Hands down I think McCain won the debate. The entire debate Obama was on the defensive and Obama had agreed with McCain 8 times. Also, the remark that McCain had made about sitting on the table with the leader of Iran was so funny.

I know I am a McCain supporter and everyone expects I am going to say that he won the debate, but seriously though, the one thing that I can say I really took out of the debate is that McCain is way more experienced than Obama.

Watching the leftwing media though, they think that Obama did better on the issues concerning the economy because he is thinking about the little people. I think Obama did better on the economy if you think that giving everything away is great and taxes to no end is the answer to our problems. Although, if you understand that nothing in this world is free and that everyone must work for what they want, than I think McCain won on the issues of the economy as well as the foreign policy issues.

It will be interesting to see how the polls are in the next few days. That will be the true show of how things went.

http://www.youtube.com/watch?v=Rb6EE3C7uWE
http://www.youtube.com/watch?v=HbRRd1tWbKo
http://www.youtube.com/watch?v=usvG-s_Ssb0

Anger Towards All Of This Blame Game

Waking up this morning and listening to these democrats on the television talk about how it is all John McCain's fault that the bailout did not go through last night, is making me so very angry. The only republican that was really on board 100% with this idea was President Bush and his advisers. The house republicans were never on board with this plan and John McCain knew it, which is why he went out there in the first place. Now, Sen. Dodd and Sen. Reid are on the television lieing to the American public, by saying that everyone was on board before John McCain arrived. Which all the republicans are saying no way. They are just trying to play the blame game so that they can help Obama's campaign.

I for one am very glad that they did not approve the bailout last night and hope that some of details do not get approved. This plan is going to make our country one more step closer to becoming socialistic country. It's disgusting. We don't hold anyone accountable anymore for themselves.

It should not be a bailout. We the taxpayers should not buy the bad loans. We should hold the companies accountable. The companies should get a loan from the government perhaps but they should still own the bad loans in my opinion.

Also the democrats are proposing that in this deal something should be done to help people in foreclosure. They want to maybe restructure their loans or even revalue the loans. Can you believe this nonsense? I can't! What about the 95% of homeowners who are not in foreclosure, who pay their bills on time, have lost tons of value in their homes and are having hard economic times? What about them? Is the government going to help them? Are they going to get a check from the government for the loss of value in their home's? The answer is NO!! Why? Because they are responsible and are not is foreclosure, so would not be helped in this plan. Their are so many Americans who have lost lots of value in their homes in the last two years. Actually, I know several people who are in that situation right now as I'm sure you do too.

I'm not suggesting we don't help fellow Americans when times are tough. But the question is how do we help and what do we them with? We help people with food, clothes, jobs, and rent control, but we do not help people with their mortgages. We should help people with the necessities and home ownership is not a necessity. Come on, next thing you know we are going to help them with their credit card bills because they bought too many Xboxes! These people got in over their heads and bought houses they could not afford and now we are being asked to help them pay their mortgages. I don't even have a mortgage. I pay rent. Should the government help me with my rent?

All I am saying is home ownership is not a right, it's a privilege. It is something that someone earns with hard work. If you can't own then you can rent an apartment just like millions of other Americans.

Criticism of McCain's Decision to Postpone The Debate

Even though I am a McCain Supporter I am a little disappointed that he has decided to postpone the debate. Actually I do understand why he did it, although I am not sure that all the voters out there do understand.
You know that all of Obama supporters are laughing and saying McCain is afraid to debate Obama, which is absolutely not true at all. McCain has offered on several occasions to do ten town hall style debates with Obama and Obama did not accept. So if anyone is afraid of a real debate, it is Obama because we all know this debate that they are going to have on Friday night is going to be a rigged debate. Where as town hall debates would be real debates, where the audience would be able to ask questions of the candidates without them knowing the questions prior to the debate.

Of course though, the mainstream media never talked about Obama not accepting those debates, but now they are talking about McCain wanting to postpone this debate. The reason he is postponing this debate is because of this crisis that they are trying to deal with on Capital Hill. Just in case anyone forgot, Sen. McCain and Sen. Obama are still senators and are still being paid as so. If it were Obama who decided to postpone the event, the media would be praising him as if he were Jesus.

Come on folks John McCain has tons of foreign policy experience which is what Friday nights debate is about, so why would McCain be afraid to debate him on those issues. But once again the mainstream media is failing the Americans.

Misled Voters

Today I heard further proof that the media is so bias when it comes to this election. This morning I spoke on the phone with a friend of mine who I don't speak to very often and we had a discussion about the election. He voiced his opinion about not liking either candidate, which I respect very much. When asking him why he did not like John McCain his reasons were that, he was too old, his VP pick should be at home with her kids, and what has he ever done to show he will make a good president.
My friend sounded just like a spokesman for the left wing media. I almost had a heart attack. Now, like I said I respect others opinions but all I ask is that the opinions are based on the facts.
When I asked him what did he even know about Sarah Palin, he said quote, "she has five kids, she's against abortion, one of her kids has mental problems, and she is running around trying to be president". When I heard that I was so apauled. Where did he get that opinion from? Well, I would have to guess from that left wing media. I have never heard someone ask, "How a male politician was going to take care of their children while being the President". Have you? Bill Clinton was never asked, George Bush was never asked and from what I remember no one has ever been asked that.
It just goes to show you how backwards Americans truly are today. England has had women prime ministers. The Phillippines has a women President. India has a women President. But Americans who preach to the world about equality will say things like my friend said today. It's just amazing.

Sarah Palin has been in politics since 1992 until now. Sixteen years she has been serving the state of Alaska as politician. Sarah has served in many different forms of politics, as a city council women, as mayor, she served on the commission of the Oil And Gas Conservation of Alaska as the chairwomen of ethics, and she served as the Governor. To get into these positions she fought people in her own party and fought the corrupt oil companies. Although, when I asked my friend what did he know about her, all he could say was she had five kids. It's very sad, but I blame the left wing media for it.

I sure hope that before this election people will better educate themselves before they cast their votes. As long as people know the facts about each candidate and base their decisions on the facts, then I respect their choice.

Economy

One of the most mind boggling things to me is that Obama wins points in the polls due to this whole wall street bailout.
I would have to guess it's because the mainstream media will not report on the S. 109[109th] Federal Housing Enterprise Regulatory Act of 2005 piece of legislation that Sen. McCain tried to pass in January of 2005 which could of helped us avoid this financial mess. This was a bill that Chuck Hagel sponsored and John McCain, Elizabeth Dole and John Sununu co-sponsored.
Here are the exact words that John McCain said before Congress to try and help this bill pass.

"Mr. President, this week Fannie Mae's regulator reported that the company's quarterly reports of profit growth over the past few years were "illusions deliberately and systematically created" by the company's senior management, which resulted in a $10.6 billion accounting scandal.

The Office of Federal Housing Enterprise Oversight's report goes on to say that Fannie Mae employees deliberately and intentionally manipulated financial reports to hit earnings targets in order to trigger bonuses for senior executives. In the case of Franklin Raines, Fannie Mae's former chief executive officer, OFHEO's report shows that over half of Mr. Raines' compensation for the 6 years through 2003 was directly tied to meeting earnings targets. The report of financial misconduct at Fannie Mae echoes the deeply troubling $5 billion profit restatement at Freddie Mac.

The OFHEO report also states that Fannie Mae used its political power to lobby Congress in an effort to interfere with the regulator's examination of the company's accounting problems. This report comes some weeks after Freddie Mac paid a record $3.8 million fine in a settlement with the Federal Election Commission and restated lobbying disclosure reports from 2004 to 2005. These are entities that have demonstrated over and over again that they are deeply in need of reform.

For years I have been concerned about the regulatory structure that governs Fannie Mae and Freddie Mac--known as Government-sponsored entities or GSEs--and the sheer magnitude of these companies and the role they play in the housing market. OFHEO's report this week does nothing to ease these concerns. In fact, the report does quite the contrary. OFHEO's report solidifies my view that the GSEs need to be reformed without delay.

I join as a cosponsor of the Federal Housing Enterprise Regulatory Reform Act of 2005, S. 190, to underscore my support for quick passage of GSE regulatory reform legislation. If Congress does not act, American taxpayers will continue to be exposed to the enormous risk that Fannie Mae and Freddie Mac pose to the housing market, the overall financial system, and the economy as a whole.

I urge my colleagues to support swift action on this GSE reform legislation.


In the four years since he stepped down as Fannie Mae's chief executive under the shadow of a $6.3 billion accounting scandal, Franklin D. Raines has been quietly constructing a new life for himself. He has shaved eight points off his golf handicap, taken a corner office in Steve Case's D.C. conglomeration of finance, entertainment and health-care companies and more recently, taken calls from Barack Obama's presidential campaign seeking his advice on mortgage and housing policy matters...When Daniel H. Mudd stepped in to succeed Raines after his ouster, Mudd promised a House committee that the days "of arrogant, defiant, 'my way' Fannie Mae" would end. Congress has recently moved forward on legislation that would create stronger federal oversight of Fannie Mae and Freddie Mac."

This bill was not passed by the Democratically controlled Congress. Isn't that funny how the media does not talk about this very important bill that McCain attempted to pass 3 years ago. McCain basically predicted this mess, which is why he tried to pass a bill to help prevent what has transpired during these past two weeks. The reason the Democratic Congress denied the bill is because they have been pushing to make it easier for low income families to own homes. So they did not want to interrupt that.
Yet now the Obama Campaign wants to blame the Bush Administration for the entire thing and tell everyone that McCain is just like President Bush. All of this is complete lies.
The bottom line is that Obama is going to raise your taxes to no end which will take this country even further into debt and drive the economy even further into the ground.

Believe me I do not believe John McCain is perfect by no means but at least he understands that he can not solve all of our problems by raising taxes. I believe the Democrats hearts are in the right place but we have to do what makes sense.

Issues Of Experience

When the democrats bring up the issue of experience in regards to Gov. Palin being the Vice President, I just have to laugh because she is more experienced than Sen. Obama who is running for President. I love it though and hope they continue to talk about her experience because it will only help to highlight Sen. Obama's inexperience.
Enough of my opinions and lets get to the indisputable facts on this subject.
Ok, here it is, before Obama started his political career he was a community organizer in the south side of Chicago from 1985 to 1988. Afterwards he went to Harvard Law School where he became the first black President of The Harvard Law Review.
He began his political career as a State Senator from January 1997 until November 2004. Then he worked as United States Senator from January 4, 2005 until now. Although half of his time as a United States Senator has been spent campaigning for President. Now he is running for President. A Senator's job is to write and to vote on pieces of legislation. Now of course there is more to the job than that, but they are not in charge of or oversee any kind of budget. He did pass an important piece of legislation during his tenure as State Senator and that is a bill to reform ethics and the health care.
That is a quick overview.
Sarah Palin was the head of the PTA before beginning her political career. Sarah began her career by running for city council of Wasilla and then serving there from 1992 until 1995. Then in 1996 she ran and became the Mayor of that same town of Wasilla from 1996 until 2002. She then ran unsuccessfully for the Lieutenant Governor of Alaska. Then she was appointed to the Alaska Oil and Gas Conservation Commission where she served as the Ethics Supervisor from 2003 until January 2004 in which she resigned because of corruption. Afterwards she took on the same corrupt powers in a bid for the Governor of Alaska and won. Sarah has been Governor from 2006 until now.
So by just a quick look at the facts, Gov. Palin has 16 years of political experience to Sen. Obama's 9 years. Palin has run budgets and Obama has not. Palin has been in charge of state employee's and Obama has not. Sarah has been the Commander and Chief of the Alaskan National Guard and Obama has not. The list goes on and on and on and on.
The funniest thing is Obama is not even running against Palin! He's running against McCain who has 100X Obama's experience!!!!

The Unfair Media Treatment

It does not take a genius to figure out that the mainstream media wants Barrack Obama to win this election. And Because of that most obvious bias I witness everyday in the mainstream media is why I have chosen to write this blog. I write this blog with no expectations of anyone even reading it, but it is a good way to get out my frustrations.
In the short time that Sarah Palin has been announced as McCains running mate, the media has attacked her in every way possible. The attack that I find to be the most humorous is the one about her experience. I don't even get mad anymore when hear that, I just smile and laugh. If you go online to investigate Gov. Sarah Palins record and then compare it to that of Sen. Barrack Obama's record, then you will understand why I smile and laugh at that attack.

The Truth About Obama's Tax Cuts & New Spending Plan

Every time I hear a Democrat say, " the Obama Campaign is going to cut taxes for 95% of Americans!", I almost fall out of my chair. They must think that Americans are uneducated, ignorant and have never been involved in this kind of election before. First of all, they are claiming to cut 95% of Americans income taxes, which is impossible mainly because 41% of Americans don't even pay income taxes, so how could you cut what they don't pay. What he is proposing, is to give 95% of the American people a $1000.00 rebate check. Not exactly a tax cut, is it? So basically if you are one of those 41% of Americans who doesn't pay income taxes, you will get a $1000.00 check and for the 54% of Americans who do pay taxes but fall below the top 5% will get the rebate check in the form of a $1000.00 credit towards taxes owed. That is called a give away, class warfare, or income redistribution. You can call it whatever you like but you can not call it a middle class tax cut.
What Obama does not tell you in his speeches is that he is going to raise lots of other taxes, which will have great effect on the middle class. Obama is going to raise social security taxes, which he has said publicly. He also says he will only raise taxes on small business that make $250,ooo or more a year, which almost all small businesses gross more than $250,000 per year. Obama plans on almost doubling the capital gains tax which would be extremely damaging on the economy. It would mean less capital flowing through the markets which we all know right now is the last thing we need. Also, who do you think creates most jobs in this country? The answer is that top 5% who Obama wants to tax like crazy. What do you think they will do? I'll tell you what they will do, they will cut jobs, cut spending, cut benefits and they will cut pensions. And that my friends will effect the middle class.
In all of Obama's speeches he tells us of all the new government programs he plans on creating when he takes office. Huge and very expensive programs. Trillions of dollars worth of new spending. So he proposes trillions of new spending plus he says he will wipe out our 11 trillion dollar deficit and cut taxes at the same time. It is hard for me to write this without laughing. Are we to actually to believe this guy.
It's common sense! Somehow Obama has to pay for all of his ambitious plans and he can not do that strictly by raising taxes on the 5% riches people in America. It is impossible. We are all going to pay higher taxes to pay for his new government spending, believe me.