Dollars and Cents, Dirty Hands and Obamanomics

~~By American Lassie

Here is something I needed to get off my chest today. This is the last time I refer to the background  of the heir apparent unless something comes of the Berg lawsuit.

I’m not joining the “Hallelujah Chorus”.

I’ve said before, and I’m saying again, until he produces documentation proving his eligibility I do not consider Obama the legal POTUS. Perhaps Justice David Souter will get to the bottom of his eligibility – perhaps not.  But if not, nothing he does or anything he proposes under Executive Order will be legal.  This country could be reduced to utter chaos.

So far Obama refuses to satisfy the requirements under the Constitution to hold this office.  If our Constitution is trashed this way, none of our laws or institutions mean diddly squat.  Why don’t some of those people who are bowing down to him take a minute to ask him why he doesn’t just show a legal birth certificate and put a stop to all the speculation?  It would be so simple for him to tell the truth about where he was born.  He has named two different hospitals in Hawaii but neither one has any record of his birth.  He is getting ready to occupy the most powerful position in the world  – and we have no idea who he really is.  He has spent his whole political life running for office but has never done anything once elected, except prepare to run for the next higher office.  His administration is already tainted by the crooked way the primaries were run.

He has chosen Rahm Emanuel as his chief of staff.  Emanuel comes to the position with dirty hands.  Emanuel sat on the Board of Directors of Freddie Mac during the time they were practicing questionable accounting and lending practices.  He contributed to the financial mess we are now in, and now he will be advising the president on how to clean the mess up.  This is putting the fox in the hen house to guard the chickens.  Is this change you can believe in?

Now the co-chair of Obama’s transition team** says the economic crisis will not prevent Obama from pursuing the priorities he outlined on the campaign trail.  What kind of magic do they plan to work?

My background is in accounting.  I’ve been an accountant long enough to know that what he is proposing isn’t possible without going further in debt to foreign governments or taxing the life out of the American people – or both.

I served on the Board of Directors of a United Way funded poverty agency for five years, and witnessed fellow board members try to spend more than we took in – time and time again.

I had my own tax business until a serious illness forced me to curtail my activities.  Now that I’m on my feet again, I intend to keep fighting for this country of ours with every fiber of my being.  I don’t profess to be the smartest person in the world, but I do know a little about finances and how to balance the books.  Enough to know that we are on a slippery slope to a complete melt-down.

Unemployment is up.  Retail sales are down. Our auto industry is tanking – and the hopey-dopey experts are promising champagne on a beer pocket book.

Both political parties are sick.  We can’t look to either one to straighten out this mess that Congress – yes, CONGRESS is primarily responsible for.  We have to fend for ourselves.

God help all those poor people who think the Messiah has come to deliver them from all their problems.

There won’t be enough Prozac in the world to take care of the mental depression that is on the way.

Luck to all.

**IA adds: That’s Valerie Jarrett, long-time Obama buddy who said the other day that Obama will be ready to “rule” from Day 1….

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10 Responses

  1. I have some financial training as well. I have been following this economic mess for most of this year. The economists I have been reading expect the economy to hit the fan sometime next year. This bailout will only delay it & make it worse when it finally does happen. Which is why I believe that dubya pushed the bailout on us, to make certain it happens when he is out of office & the blame falls on the next president.

    Nobama’s economic adisors are those same idiots who brought us this crisis to begin with. Morever in the 1930’s there were certain safeguards either in place, or put in place, that helped pull the country out of that financial crisis. For one thing, in 1930 (or 1931, I’m not sure) Congress passed the highest tariff in the history of this country, & in 1933 they passed the Steagall Act, which was dismantled several years ago. Meanwhile tariffs were done away with under NAFTA & other free trade race to the bottom treaties. Now Congress could possibly break these treaties & start passing tariffs again, & they could re-enact Steagall, but in the 1930’s we had a manufacturing economy, which we no longer have today. So it’s going to be much harder to put the economy back together again when it finally falls off the wall. To top it off we have an inexperienced whoozit about to run the country who promised pie in the sky to his minions. I shudder to think about what could happen when their Messiah dorsn’t deliver. You say god help those people. I say God help the rest of us who are gonna have to live thru this coming madness.

  2. I’m not an accountant. I’ve only a high school diploma and a couple years of college. But it doesn’t take a degree in accounting, or a degree in anything else for that matter, to know that if you spend more money than you have, you’ll go (further) into debt. So, even without the education and experience in accounting and finance, I, too, can see plainly that if Obama attempts to move forward with all of his promises to the American people regarding healthcare and entitlements, we’re headed for bigger trouble than we’re in now, bigger trouble than we’ve seen since the Great Depression. The money’s just not there. Period.

  3. I make no claim to any expertise about finances. I manage my own the same way I always have, I do not spend more than my income.

    Now I know that’s an outmoded idea. I also don’t have a credit card. I don’t buy things I can’t afford. And I am not addicted to stuff. I don’t want more “stuff” cluttering up my house, my closets and my life.

    We have a nation addicted to consumerism. We have a government addicted to spending. And neither of them can afford their nasty, foolish habits.

    I don’t have much money. I am now retired and will never have more money than I do now. And I will survive. I have one silly little secret for survival. I live within my means. And it works.

    Note: I am not talking about people who through circumstance have an income lower than necessary monthly expenses. Those people have my sympathy and I would hope that tax dollars could aid them until they can get on their feet. The irresponsible ones? No sympathy from me.

  4. as long as you live within your means (& manage to hang onto your job if you have one) you should be fine. And there are signs that the public is starting to do that.- last month we had a negative GDP, which means the country is reverting to a cash economy. But this is not good news for banks, credit card companies, & any other businesses that depend on people living on credit. Or the retail industry as their sales go down becuz folx are buying less. So they start laying off, & the lay offs spill into the other sectors of the economy, like a domino effect. So that is the downside of this adjustment period- the loss of jobs. I find it almost poetic that Barky has chosen to style himself like Reagan, since we are witnessing the death throws of Reaganomics. THe Gipper presided over the rise of Reaganomics, & now Barky can preside over it’s downfall. Some new economy will eventually take its place, or we may stay in a cash economy for awhile. Hard to tell at this point.

  5. “”I’m not joining the “Hallelujah Chorus”.”-
    Great verbiage!
    It i s ironic that Clarence Thomas, another black man, may hold the decisive decision in his citizenship.

  6. Interesting point, ahrcanum!

  7. Marge,

    Your mode of living is the same as that most of our ancestors lived by to build this country. It is the most sensible and long term practical way to keep a sane and balanced existence in these troubled times.

    I am deeply concerned about the many people who have lost their jobs and need help to keep their families together and food on the table. These people should absolutely be helped until they get on their feet. I deplore the idea that the world owes us a living if we are too lazy to pull our own weight. (Like the girl on television, who stated that if she helped get Obama elected he was going to buy her gas and pay her mortgage.)

    One reason for the housing debacle is the role Congress played in forcing banks and mortgage companies to grant mortgages to people who knew they couldn’t pay for the upscale houses they were buying. Some of thesse people weren’t even employed at the time they were granted the debt.

    Other people found themselves in dire need due to a serious illness, and they need help. I can relate to these people because I found myself in that same situation at one time. I didn’t have to seek government help, but it was a real struggle for a while. I think there is a need to help these people, but the hopey dopey scheme to tax the hard workers to cushion the do nothings, this I cannot see.

  8. The economy — and misogyny. Two topics that are closely related.

    Women earn less than men. The excuse used to be that men should be paid more because they have a family to support while women are only working for “pin money”. That fell by the wayside when it was exposed that many of the women were the sole means of support for their families and very often the men who got the higher wages were only supporting themselves.

    Very often women are the ones who manage the budget — buy the food and shop for sales.

    When the unemployment rate started going up, shortly after bush took office a century ago (or so it seems) women lost their jobs due to the downturn in the economy — many of these women never did find a job with a comparable salary. This is what happened in the 50s — the men were home from the war — now the little women needed to go home and become “housewives”.

    This campaign season only exposed the deep seated LEARNED misogyny that has existed in THIS culture, which was brought over from Europe. However, this is a new and “improved” brand of misogyny — and it is nasty and vile. It will not go away — even if we join the kool-aid line and and bow down to the ONE- their messiah.

    Obama was unapologetically sexists in his words and actions not once by many times during the campaign. I have NEVER seen such in your face contempt and disrespect for women. WE cannot let this pass and move on and forget it — as trolls on NQ and elsewhere are demanding.

    Everything is related — Obama disrespects women and he disrespects American taxpayers.

    THE WSJ has kept track of Obama’s promises and has estimated the cost of these promises — there is no way that WE can pay for Obama’s promises. NONE — no way. I think the US may have run out of credit. Just when Obama wants to borrow more money — China may be putting US Treasury notes (money loaned to the US) on the International market. So both China and the US will be trying to sell I-OWE-YOUs from the US at the same time.

  9. right on NW Rain!! another area in which the women’s movement has stalled & failed us. If Hillary & Sarah’s unsuccessful political runs revive the moribund women’s movement, then I will consider them a success.

    re: the economy- it appears dubya has finally changed course on something:

    “I’m a free market person,” President Bush told reporters after the summit ended, “until you’re told that if you don’t take decisive measures then it’s conceivable that our country could go into a depression greater than the Great Depression.

    -snip-

    for the full story click below, or paste it & click:

    http://news.mobile.msn.com/en-us/articles.aspx?afid=1&aid=27742573&pg1=1

    other than alot of talk about oversiting the banking industry I’m not sure how decisive these measures are. Comingling doesn’t appear to have been addressed, nothing about derivatives & other financial garbage, & the race to the bottom mentality still holds sway since tarriffs (“protection measures”) are off the table as a means to jump start the economy. More importantly, as I said in my first post in this thread, we no longer have a manufacturing economy. This is what got us out of the Depression in the 1930’s. We no longer have that today. If Congress can’t pass tarriffs, then it’s going to hve figure out a way to keep companies from outsourcing manufacturing jobs (or any jobs for that matter) & to recreate another manufacturing economy. Period.

  10. oops! when I tested the link I reread the story. There is some vague talk of limiting dervatives. *yawn* It’s gonna take more than that, however….

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