Obama – A Case Of Diminishing Returns.


David Axelrod is telling us breathlessly that his glorious leader is FEISTY. I guess from that monumental statement Conservatives should be quaking in our boots in anticipation of the drubbing to be handed out by the President during his state of the union address. Pardon us while we don’t get overly apprehensive about repackaged garbage. According to White House insiders President Obama will focus on JOBS and the DEFICIT. In other words, everything he has worked so diligently to destroy in his ideological drive to transform this nation a la Saul Alinsky.

David Axelrod

This is worth repeating. While Obama is busy revamping his message and telling us what a terrible raw deal he was handed by George Bush… remember that one? The one engineered by Democrats through Fannie and Freddie, Acorn, AIG and players like Goldman Sachs, with the willing accompaniment and active interference of people like Barack Obama, Barney Frank, Hillary Clinton and Chris Dodd, the chairman of the House Banking Committee? Good public servants all.

Our President has presided over a money glut of historic proportions, one which if allowed to run to its conclusion will cost the taxpayers of this country FOUR POINT NINE TRILLION DOLLARS by 2016. This is in addition to the 5.1 trillion Bush and Obama are already responsible for.
Now he wishes to speak of fiscal responsibility and will seek to find blame everywhere but where it belongs. During the Bush years we saw gains of THREE POINT SEVEN MILLION new jobs. Not as impressive as the Clinton years and the hysterical growth prior to the .com bubble burst, which left George Bush with a recession of his own to deal with, a fact that is conveniently discarded by the tame Democrat left-leaning press and most politicians, but still solid substantial job growth.

Now we come to Obama and the great GREEN job revolution that ain’t. Better than 15.3 million jobs lost to the recession, according to the Bureau of Labor Statistics. The pathetically few jobs he can credit himself with are mostly government and / or temporary. Once again, GOVERNMENT PRODUCES NOTHING.

The American people know about job growth. They know where jobs come from and they also know that runaway regulation and massive tax increases are not going to create those jobs. Obama is putting out feelers for a SECOND stimulus to ‘jump start’ job growth. That seems to be the entire liberal philosophy… not accounting or taking responsibility for failed policy but taking refuge behind inanity such as “it needed more funding to do it right”, or “it needed more time”, which amounts to the same thing.

This is a mantra we’ve heard from the left consistently on one public policy issue after another for a hundred years. The definition of insanity is doing something with negative results and going back and doing it again and again expecting a different outcome.
President Obama, we await your little extravaganza with bated breath, while we observe your cronies scrambling for whatever political cover they can find.

Semper Vigilans, Semper Fidelis

© Skip MacLure 2010


Surprise! Geithner’s Fed Told AIG to Limit Swaps Disclosure


Geithner’s Fed Told AIG to Limit Swaps Disclosure (Update1)
By Hugh Son

Jan. 7 (Bloomberg) — The Federal Reserve Bank of New York, then led by Timothy Geithner, told American International Group Inc. to withhold details from the public about the bailed-out insurer’s payments to banks during the depths of the financial crisis, e-mails between the company and its regulator show.

I wonder if there will be anything to this?  Geithner covering for GS and SocGen for getting bailed out 100% of the AIG scandal on the taxpayer dime.  Geithner then gets a promotion to SecTreas.

“It appears that the New York Fed deliberately pressured AIG to restrict and delay the disclosure of important information,” said Issa, a California Republican. Taxpayers “deserve full and complete disclosure under our nation’s securities laws, not the withholding of politically inconvenient information.”

“Our position has always been that if AIG’s securities lawyers determine that AIG is legally obligated to make a particular filing or disclosure, then that is what AIG must do,” Thomas Baxter, general counsel for the New York Fed, said in a statement.

How convenient, kinda sounds familiar?  The government telling Ken Lewis of BoA what to do, before they didn’t.  “Well, we say lots of things but its up to him to do whats right.”

“Federal Reserve officials provided AIG’s counterparties with tens of billions of dollars they likely would have not otherwise received,” Barofsky wrote in a Nov. 17 report. “The default position, whenever government funds are deployed in a crisis to support markets or institutions, should be that the public is entitled to know what is being done with government funds.”

Entitled to know? Who, us? The peasant public?  Nah, they’ll  tell us when they are good and ready.  If they want our opinion, they’ll give it to us.  After all, its really their money and they just graciously let us borrow it for a few years.

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