Sat, April 04


Good Grief!!! I don't believe this country, as we know it, has been in such danger since 1942. In less than 2 months Barack Obama has taken our economy from "sick" to "near terminal". To those who think he has not been "given a fair chance" I would counter that that is what he is counting on. The American people need to bring the "honeymoon" to an end. While his personal popularity is high (63%), his policies are causing angst to 7 of every 10 people polled, those believing that the government has gone on a drunken orgy of spending that must be ended.

While a majority of those polled believe that the policies instituted in these first days will not help the economy, I believe that there is no real effort being made to halt the slide. When Rahm Emmanuel said "We cannot afford to waste a good crisis" his candor was lost on many people. The intent to use the fear being generated from the White House as a smoke screen to ram through a liberal agenda that might otherwise take years seems fairly apparent. Trying to distract the public with the phony Rush Limbaugh issue is not going to work, either. Even the GAO has warned that the president is courting disaster. A U.S. government bankruptcy, once thought to be impossible, is now being discussed as a distinct possiblily, even by the Chinese government.

Why would I think the president is not interested in ending the economic downturn as soon as possible? Show me evidence that would prove otherwise. Except for those whose philosphies tend to socialism, the experts find very little stimulus in the stimulus package, better known as the Congressional Relief Action Pact (or C.R.A.P.) While campaigning, Obama said he did not believe that raising taxes during a recession was wise. Ever since taking office he has has spoken of little else - trying to get us to believe that he would only raise taxes on the top 2% of earners, the rich, who he says is anyone making over $250,000 a year, in order to balance the budget. Is it possible? Let's see.

In 2006 3.8 million Americans earned $200,000 or more and paid $522 billion, or 62% of total income tax receipts. The top 1%, or 1.65 million filers, earned over $388,806 and paid $408 billion, or 39.9% of all income tax revenues. If the government were to confiscate 100% of the income of those making $500,000 or more (include Bill Gate, T. Boone Pickens, etc) it would only total $1.4 trillion, about half of the 2006 budget. If they were to take 100% of the money earned by those making $75,000 or more, it would come to about $4 trillion, or just enough to cover Obama's 2010 budget. Wait a minute, you say!! $75,000 isn't rich! And the Wizard promised not to raise taxes on anyone earning less than $250,000. Again, let's see.

The president says he wants (and he has the votes) a "Cap and Trade" bill for the environment. But it's not really a Cap and Trade. More of a carbon tax, and all the money goes to the government. So who really pays the tax? Anyone who buys energy - gas for transportation, heating oil, natural gas, coal for furnaces, and that means everyone. He intends to let the Bush tax cuts expire, raising taxes on just about everyone who pays them. He will erase the cap on the payroll tax, by itself raising by 7% the taxes of anyone making over $102,000. Is this picture becoming any clearer?

Except for his own cronies, the president seems to hate anyone connected to Wall Street. While it is true that there are hundreds of Wall Street types that deserve jail time, the vast majority of them are honest. But this administration is proving to be anti-investment, anti-job (private sector) and anti-business. Have you ever been hired by a poor man? Neil Cavuto recently said "I think the president would be wise to look at the community (Wall Street) he disdains." Public opinion usually follows Wall Street, though it is usually lagging. Wall Street is showing a remarkable lack of confidence in the president's ability (or intention) to save the economy. Since taking office, Obama's policies have seen a $2.7 trillion drop in the wealth of those Americans who are invested, through such things as 401k s, in the stock market. The lag in public opinion may be short as we watch our life saving evaporate.

I have been around through 13 different presidencies. Never has any of them had such trouble filling the top positions of their administration as Mr. Obama. He seems to have brought everything bad about Illinois politics, as well as shady advisers, with him to our most respected and powerful elected position. Few of those he has appointed are unstained by corruption. He is supposed to be doing the work of the nation, a bi-partisan endeavor. The vast majority of the people believe in the free enterprise system that has sustained this country for nearly two and a half centuries. I didn't vote for Mr. Obama because I listened to his words, not the delivery. I doubt that most of those who did vote for him thought the "change" he promised was a one way ticket to socialism.

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