Today, the US national debt cracked the $15 trillion mark with no real debt solutions on the table from Congress. Debt-hawk Paul Ryan had a few things to say about this development in this video. Every time a milestone like this is reached we as a nation have fewer options available to deal with the [...]
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From September 2008 to February 2009 nearly $1.6 trillion America didn’t have had been spent by our government: TARP to bailout Wall Street ($700 billion), plus the auto bailouts ($80 billion), plus the Stimulus to bailout Democrat constituencies ($787 billion). When would it stop? Who would end up paying for it? Anyone paying attention was [...]
The Supreme Court issued a stay on the Chrysler bankruptcy ruling yesterday afternoon, shortly before a court of appeals imposed deadline would have made the deal final. The Chrysler bankruptcy, engineered by the Obama administration, would have engineered a sale of Chrysler to Italian automaker Fiat, and paid off the unions at the expense of [...]
President Obama has repeatedly said that he does not want to be in the automobile business. Yet a feature-length expose in the Detroit Free Press, a rare and daring indictment of the administration by a member of the main-stream media (now dubbed the state-run media by Rush Limbaugh) shows how Obama’s auto-czar Steven Rattner (one [...]
One of the arguments against big government and government interference in the economy is government’s unique position to grant political favors to political allies, or to punish one’s political enemies. One of the many reasons Conservatives believe in limited government is to reduce the potential for corruption, political favors, and political punishment from the government. [...]
In less than a year, we as a nation have gone from a robust capitalist economic system with some burdensome government regulation to be sure, to a government-controlled economy. The federal government has effectively assumed control, by both legislation and executive order, of the financial and auto industries. This week’s firing of General Motors CEO [...]
The effort is underway by the Obama administration to begin the wide-scale nationalization of American private enterprise. This nationalization will be far-reaching and touch several key industries, making it difficult to undo by future administrations. Early indications suggest that this nationalization will touch three key industries: Health-Care, Financial, and Automobile. Health Care: It is no [...]
House Minority Leader John Boenher announced yesterday that he opposes releasing the remaining $350 billion of the TARP Bailout fund unless there is a proven need. I think until there is a demonstrated need in our economy and a plan to address that need, I think it would be irresponsible for Congress to release the [...]
President Bush today defied the will of Congress and voted to use $15 billion of TARP money (the original Paulson bailout that was appropriated to save failing financial institutions during the credit crunch) to bail out the auto industry. The bailout went to Chrysler and GM, as Ford decided it did not need a bailout [...]
Last night, Senate Republicans successfully defeated the auto-bailout bill in a cloture vote (which requires 60 votes to succeed) due to lack of union concessions. It is now being reported that the Bush Administration, through the Treasury Department, is going to ignore the will of the people’s elected representatives, and take $15 billion of the [...]
America is headed towards a Socialist state. The current economic crisis, which is directly attributable to government intervention in the free market, is now being used to foster a new Socialist Democracy, threatening the ingredients of freedom that fostered America’s greatness for the past two centuries. As we speak, a deal has been struck between [...]
Rep. Louie Gohmert (R-TX) of the Conservative Republican Study Committee is proposing an alternative to the Auto Industry bailout and Economic Stimulus packages, as well as the remainder of the Paulson Bailout money that has yet to be authorized by Congress. His plan is to use the remaining $350 billion allocated from the bailout money [...]
Neil Cavuto had Congressman Joe Knollenberg (R-MI) on his show last night to discuss the proposed automobile bailout. Now, I understand the importance of the auto industry for Michigan, but Knollenberg, in arguing with Cavuto, stated that the government’s money is not our money. Knollenberg has a point about the auto industry doing everything that [...]
Conservatives such as myself warned back in September that the Bailout Bill proposed by Secretary of the Treasury Henry Paulson, passed by Congress, and signed into law by President Bush, was a socialist disaster in the making. The bill was supposedly passed to help shore up our nations credit and unfreeze the credit markets. Aside [...]
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