Thursday, March 27, 2008

Where’s the Outrage Now???

Aren’t Democrats SUPPOSED to be FOR the common man, the “average taxpayer?”

Yeah, I thought so too. After all they say that ALL the time!

Well, here’s proof that “IRONY can get pretty ironic sometimes.”

See, Barney Frank and his House Financial Services Committee and Christopher Dodd and his Senate Banking Committee have proposed legislation that would move most of the “bad paper” risks FROM the lending banks TO the American taxpayer!

Yeah, “Power to the peop-”

Wait a minute, that doesn’t seem all that appropriate.

The problem with the currently suggested “Mortgage Bailout,” is that all such things have long-term unintended consequences.

OK, some, in this case, like the government (I mean taxpayers) taking on nearly $30 BILLION in bad loans in the Bear-Stearns deal are quite “intended.”

Others, like ordinary citizens who’ve paid their mortgages seeking to get the same kinds of deals offered to their defaulting neighbors, are quite “unintended” and thus incalculable in terms of their potential future economic impact.

Now, how come when some “evil Republican” does something that benefits business at taxpayer expense they get excoriated, but when Liberals like Barney Frank and Chris Dodd do it, nobody pays attention?

I know, that’s a pretty good question, isn’t it?!


Uncle Joe said...

Ain't this a switcheroo! Democrats bailing out "fat cats" and "fat cat free market capitalists" holding their hands out to tax payers.

We won't start to see the effects of these "economic stimulus packages" for another 6 to 9 months. Sooner or later, we will have to pay the piper and the sooner the easier it will be. I am not so sure that bailing out rich people who make stupid business decisions is the role of government. Talk about "corporate welfare."

I would appreciate it if the Democrats would just cut my taxes just a little. Not a lot, just enough to allow me to put my kids through college without taking every penny (literally) for taxes in April that I manage to save during the year. Gasoline, books, tuition, car insurance, room and board, food, clothes, and "technology fees" for two college kids (plus my own college loans that I am still paying for) really take a bite out of the budget. But every time there is talk of a tax cut, Democrats try to convince me that I don't really need it.

Republicans go to the other extreme by claiming to want to cut taxes but over the last 8 years they haven't seen a government spending program that they didn't love except the one that allowed me to claim the lion's share of my tuition payments. They reduced that break.

What a mess. Just how much more of this stuff will China finance anyway? But, the important thing, apparently, is which presidential candidate can increase government spending by turning all doctors and nurses into government employees with most number of zeros in the number.

JMK said...

I think the Dems are just better at "populist rhetoric," Uncle Joe.

I also agree that the economic impact of these bailouts will be quite negative, with many unforseen consequences.

WHY are reckless, irresponsible people, who don't pay their bills worthy of a bailout, while those of us who DO pay are bills aren't.

Without question, when bad behavior is rewarded, we'll get more of it...MUCH more!

The Dems aren't going to cut taxes, hell, even John McCain doesn't have a stellar track record on that score.

He's also (like many Republicans) absolutely atrocious on the ILLEGAL immigration issue.

Conservatives and Libertarians are going to have to steel themselves and find new ways of educating others and helping spread the news that economic Liberty (keeping what we earn) is the foundation of all other freedoms.

Sadly, sometimes it seems like a long, uphill battle.

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