Stimulus Fraud

The economy is in a recession, so for the last month-or-so, Obama and the Democrats in Congress have been rushing a “stimulus” bill through the legislative system.

And as we’ve heard, if we don’t do something right now, our economy may “never recover”, or so says the Messiah (Barack Obama).

So, you start getting a little suspicious when you see something like this in the news:

Obama to sign stimulus bill today in Denver

By BEN FELLER, Associated Press Writer Ben Feller, Associated Press Writer – 2/17/2009

WASHINGTON – President Barack Obama is poised to sign into law the most sweeping economic package in decades, a rescue plan designed to create millions of jobs, spur consumer spending and revive the nation’s outlook. Capping the biggest victory of his month-old administration, Obama will sign the economic legislation Tuesday in Denver.

The setting, the Denver Museum of Nature & Science, is meant to underscore the investments the new law will make in “green” energy-related jobs.

Ahead of Obama’s arrival in Colorado, the White House went live with a Web site, http://www.recovery.gov, that will allow people to track where the money is being spent. The White House press office also promoted the projected job growth for each state and congressional district.

The flailing economy continues to dominate Obama’s time.

Tuesday is when General Motors Corp. and Chrysler LLC, which are living off a combined $13.4 billion in federal bailout loans, are due to hand in plans to the government about how they can remain viable.

And on Wednesday in Arizona, Obama will unveil another part of his economic recovery effort — a plan to help millions of homeowners fend off foreclosure.

But first comes the $787 billion economic stimulus bill, which tries to address the nation’s economic free fall on multiple fronts.

It pumps money into infrastructure projects, health care, renewable energy development and conservation, with twin goals of short-term job production and longer-term economic viability.

There’s a $400 tax break for most individual workers and $800 for couples, including those who do not earn enough to pay income taxes. It dishes out tens of billions of dollars to states so they can head off deep cuts and layoffs. It provides financial incentives for people to start buying again, from first homes to new cars.

And it provides help to poor people and laid-off workers, with increased unemployment benefits and food stamps, and subsides for health insurance.

What the legislation is not expected to do is change the nation’s economic fortunes quickly. So part of the White House’s goal has been managing expectations.

Presidential spokesman Robert Gibbs said over the long holiday weekend that “things have not yet bottomed out. They are probably going to get worse before they improve. But this is a big step forward toward making that improvement and putting people back to work.”

The unemployment rate is now at 7.6 percent, the highest in more than 16 years. Analysts warn the economy will remain feeble through 2009.

Republican lawmakers, meanwhile, largely balked at the economic package. It drew no GOP votes in the House and only three in the Senate, albeit vital ones. Many Republicans said it was short on cutting taxes and the spending measures didn’t target the vast sums of money well enough toward short-term job creation, which was the major goal of the bill.

But with the economy shedding jobs, there was widespread consensus in Washington for some sort of stimulus, and fast.

Yet the government’s action comes at a cost down the line.

Many private economists are forecasting that the budget deficit for the current year will hit $1.6 trillion, including the stimulus spending. That’s about three times last year’s shortfall, and such year-to-year deficits contribute toward a mounting national debt.

Ok, the aforementioned stimulus bill was shoved through Congress on 2/13/2007, which was a Friday.  Obama, however, waits until 2/17/2008 – a Tuesday – to sign the “stimulus” legislation into law.

So, what happened to the “crisis”?  I’d figure that if things are so frickin’ dire, and the days so dismally dark, Nancy Pelosi would sprint to the White House with the bill for Obama to sign.  I mean, she did the same thing with the TARP legislation.  Remember?

Then you read things like this:

SURPRISE! Dems Break Promise: Stimulus Bill to Floor Friday

Human Events – 2/12/2009

In a press conference Thursday, the House Republican leadership spoke candidly about being kept out of the House-Senate conference on the Obama-Pelosi-Reid so-called “economic stimulus” bill. They confirmed they had not yet seen the text of the bill as of 4 p.m.

Minority Leader John Boehner (R-Ohio) said he was unsure how many Democrats would vote with Republicans again on this bill but that he thought Republicans “may get a few” Democrats to side with them. The fact that the Demos have now broken their promise to have the public able to see the bill for 48 hours may drive more Dems into the Republican camp.

“[I] don’t know, ‘cause they haven’t seen the bill either,” Boehner said.

“The American people have a right to know what’s in this bill,” Rep. Mike Pence (R-Ind) told HUMAN EVENTS after the press conference. “Every member of Congress — Republicans and Democrats — voted to post this bill on the internet for 48 hours, 48 hours ago. We’ll see if the Democrats keep their word.”

Actually — as of 5:15 pm, the Democrats had broken their word. The stimulus bill — which we still haven’t seen — will be released late tonight and will be brought up on the House floor at 9 am tomorrow.

The following statement was released by Majority Leader Steny Hoyer at 4:57 p.m.:

“The House is scheduled to meet at 9:00 a.m. tomorrow and is expected to proceed directly to consideration of the American Recovery and Reinvestment conference report. The conference report text will be filed this evening, giving members enough time to review the conference report before voting on it tomorrow afternoon.”

Meanwhile, at an earlier presser Thursday, Pelosi — while talking about legislation regarding school construction funds — said it was vital to see the language of a bill before making decisions. ReadtheStimulus.org had the following quote:

“With all of this you have to see the language. You said this — I said that — I understood it to be this way — you know, we wanted to see it in writing and when we did that then we were able to go forward.”

“Around here language means a lot. Words weigh a ton and one person’s understanding of a spoken description might vary from another’s. We wanted to see it. And not only just I had to see it, I had to show it to my colleagues and my caucus. We wanted to take all the time that was necessary to make sure it was right.”

Congressional members are also exchanging barbs via the popular social network Twitter. Sen. Claire McCaskill (D-Mo.) twittered, “Don’t know when we’re going to vote. Will the no votes delay vote just because they can? Speed is important. They know that.”

House Republican Whip Eric Cantor (R-Va.) twittered back, “Those in favor of speed over commonsense may just be afraid of letting the People know what they are ramming through.”

UPDATE: The Democrats finally made the bill’s language available around 11 p.m. Thursday, approximately 10 hours before members meet Friday to consider the bill and 38 hours short of the time promised Americans to review the bill.

Now Democrats lying and going back on their word is nothing new.  But the urgency of this all smells pretty foul.  Undoubtedly, Pelosi and company played these games to either avoid Republicans from mounting opposition to the “stimulus” bill, and/or prevent the details of the bill from getting out to the general public.  I’m placing my bets on both of these.  If the Democrats felt confident of this bill, they’d have no problem letting people look it over.

So the Democrats know that this is a crap bill, and will probably have a good portion of the US citizenry up in arms.  But, they’re willing to shove it down our throats anyways.  There have been a couple of times in the recent past when the voters have risen up in outrage, and one of them was amnesty for illegal immigrant.  People were up in frickin’ arms over this, gave their representitives livin’ hell, and members of Congress started walking away from their support.  So, there was no way on God’s green earth that either Harry Reid, Nancy Pelosi, or The Nazarine wwere going to allow this to happen.

There is more, however.  If there was so much urgency over this, Obama would have signed the measure Friday.  He didn’t.  He chose to wait to sign it in Denver.

Why is this?

My opinion is that he knows full well that all of his alarmist crap about the state of the economy is just that: alarmist crap.  Unemployment hasn’t even reached the level of the Carter years, and there are a few leading indicators (like retail sales being up in January, and new home loans being up in December) that are showing a turnaround.  Plus, that monstrosity of a “stimulus” bill had as much to do with an economic turnaround as a boil on my bum.

It was a liberal spending bill loaded with pork and pet projects.  Want an example?  How about a high-speed rail project from Los Angeles to Las Vegas for something like $8 billion…something that would benefit Harry Reid.

Contrast that with the amount of money that Michigan would receive – a state that has been in recession since 2001, when Jennifer Granholm took over – is reported to get a combined total of $7 billion.  That’s right: one frickin’ pet project of Harry Reid gets more money than the entire state of Michigan.

Plus there’s something like $40 billion to be funneled to the various welfare agencies.  Tell me, how does giving more money to unemployed illegal immigrants and third-generation welfare recipients help stimulate jobs, and keep people employed?

Let me help you here: it doesn’t.  Nor does “infrastructure spending.”  Jennifer Granholm (Jennie on the Block as she is commonly referred to around these parts) has been doing that for the last 4 years, and Michigan is STILL in a recession.

The fact is, this “stimulus” bill is one in name only.  The wool has been pulled over the collective eyes of the citizenry.  For the last several months, Democrats has been running around claiming that the sky is falling as a means of instilling fear into the American populace.  They did this to create a panic so that people would ask few, if any questions about what our elected representatives were doing, so they could do whatever they wanted.  And now that the bill is passed, there is really no rush to sign it into law.

A massive fraud, to the tune of about $800 billion (not including the interest) has been perpetrated on the American public.

But there was another reason for the rush.  Imagine, if you will, the bill gets delayed for another month, and let’s say that during this time, unemployment unexpected drops during that time (I kinda doubt it, but it just might).  How would Obama and his “stimulus” bill be able to claim credit for a economic turnaround?

He wouldn’t, especially after saying that the world was coming to an end for nearly two months running.  So, this bill had to get pushed through so he could claim credit for turning around the American economy with socialist “stimulus”.  And what if the economy tanks even further?  Well then, more impetus to employ even more socialist “stimulus” to fix the problem.

Lastly, it was also an issue of vanity.  If Obama didn’t deliver on a “stimulus” bill, then he would look both weak and ineffective in the eyes of the American public (which, in reality, he is).  It would also continue the theme of Democrats being unable to accomplish anything in Congress, which happened from 2006 to present.

Recessions happen.  Anyone who understands free market economics recognizes this.  Usually, when free market forces are allowed to work, the recessions are generally brief.  But as we’ve learned in Michigan, when socialism is employed, recessions linger for years.

Will this “stimulus” work?  Maybe.  Maybe not.  Since were already seeing some leading indicators that the economy is recovering, I’m likely to think we’ll see a brief economic recovery, followed soon after by another recession. 

Why is that?

Because once Democrats start to believe their own hype that socialism works, they’ll start punishing producers even more than they do now.  And Obama will be on the forefront of that revolution.

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2 Responses to Stimulus Fraud

  1. llabesab says:

    Let’s not be “judgmental” about “Irresponsible” mortgagees. Just because they didn’t read the fine print, we should be tolerant and forgiving.

    Did anyone stop to think that maybe..just maybe, they “couldn’t” read the fine print? They were probably taught by teachers who, in the last 20 years, graduated in the bottom third of their college class and scored 25% lower on SAT’s than any other discipline–not bad for a recession proof career. (Read about any teachers getting laid off–other than 1 here and 2 there?).

    So show some compassion for those who thought they could buy $750,000 homes on $50,000 salaries. They were probably graduates of Ivy League Schools and majored in “Tax Cheating” as did Tim Geithner.

  2. unknownconservative says:

    There was a special on CNN not too long ago called “House of Cards”. The special “investigated” the whole mortgage / housing issue, and (of course) placed an undue emphasis on how greedy Wall Street was to blame. CNN being ultra-liberal and media whores for the Obama regime, of course their finger-pointing was directed mainly at fat cats in the financial sector.

    However, the editors at CNN screwed up. On the report, they had 2 homeowners who were in over their head talk about their loans. Both were minorities: one was a black woman from Compton, and the other a foreigner of what appeared to be Central American descent – perhaps even in this country illegally.

    Both admitted that their incomes were overstated on the loans, and that they knew their income was overstated. At least the black woman from Compton did. The other one looked like he had a hard enough time pulling his head out of his a**.

    And they both had real nice houses – nicer than mine (and I make a pretty good living doing software development, perhaps being in the top 5% of wage earners). The suspect illegal immigrant had a HUGE house with nice leather furniture, and a nice entertainment system.

    But the fact was, when they signed their loan agreement that reported a fraudulent income, they were then officially guilty of fraud. Yes, you can blame the loan agent for participating in the fraud, but the borrower had a responsibility to accurately report their income as well.

    The fact is, the people CNN tried to portray as victims should be in frickin’ jail!

    And the alleged “whistle-blowers” in the CNN special were just as guilty as these made-up victims, participating in the same scam that eventually bilked people for billions of dollars in bad paper.

    Yet, somehow, Wall Street is guilty for assuming the mortgages they were bundling for sale as funds were valid.

    If you are interested, I did a little research on the complicity of illegal aliens in the mortgage mess. It can be found at the following link:

    https://unknownconservative.wordpress.com/2008/10/01/are-illegals-responsible-for-the-economic-meltdown/

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