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How much more stimulus can we take?

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By Robert E. Beckner

As more Americans lose their jobs and the overall economy gets worse by the day, you hear over and over, please don’t stimulate us anymore we can’t afford it! Our government is continuing to follow the pattern of the past number of years where our nation spent for things it couldn’t afford with money we didn’t have.

So now comes today and we find ourselves expecting someone else to pay for it. The working and middle class are expected to bail out and reward the special interest groups that elected the current administration and those so-called politicians that we elected to work for us; to do our bidding; we find out too late for now that they make their own decisions, those that favor themselves.

What we are expected to do currently is to pay the mortgages of those that bought too much house and then just walked away from the debt because a community activist from Chicago told them someone else would make their house payments. On top of this we are expected to reimburse the banks and mortgage companies for making bad loans to people with a history of not paying their bills. Let’s not forget the politicians that were in office and listened to the community activist during the Clinton years that enacted a law that forced the banks to make loans to bad credit risks.

We have all got to stand up and tell the incumbent members of Congress, all those that voted “yea” on the $789.5 billion stimulus package and we must add here, none of them read one word of this bill before enacting it, that we will all remember and see to it the day of reckoning will come in November 2010, 2012, or 2014, for we will fire you all! Then do it!

Buried in the legislation that none of Congress read, are some 9,000 “earmarks” or if you prefer, “pork” that our president, on the campaign trail, said there would be no more earmarks allowed when he was president, then after election he said the bill as presented had no earmarks in it. However, by the time you read this, the bill will be passed and he said he intends to sign it.

Among the earmarks is a provision to create a board, using $1.1 billion of our dollars that will make life and death decisions about whether or not seniors can have life saving operations and the ability to choose your doctors for you and they can and will override the doctors’ decisions, even regarding treatment and drugs, etc.

We can’t forget the reward in the bill that the ACORN group gets some $5.2 billion for helping the president win in 2008. This also will help assure him re-election in 2012. This so-called stimulus bill runs over 1,000 pages and no way can we list even a long list of the “pork” but the bottom line is we can’t afford this big government administration. In less than a year, the public has been presented with bailouts upon bailouts and stimulus bills, all of which are really just spending bills the leftist democrats and some republicans want, mostly for social interests. The total so far is somewhere in the range of $13 to $15 trillion dollars added to our national debt. They apparently haven’t learned that you can’t spend your way out of debt.

Since the election, the stock market has dropped approximately 3,000 points and every day that more bad news comes out, the market drops another 200 to 300 points. Most analysts say it’s the lack of confidence in the government policies for the incredible pessimism of investors and consumers. Surprisingly, 63 percent of investors say “much more” stimulus is needed and 20 percent say “a lot more” is needed to turn the economy around.

Hurting the recovery also is that states from California to New York are raising taxes, which creates more obstacles to an early recovery. This is not the time to raise taxes of any kind. Instead we should be cutting taxes on workers, businesses and investors to give the economy the capital and breathing room it needs to recover.

At present, 48 percent of the nation’s homeowners, who have a sub prime adjustable rate mortgage, are behind on their payments or are in foreclosure. Florida, California and Nevada are among the worst states – having reckless lending practices. Here in Florida, one in five mortgage holders aren’t current with their payment.

The new government relief plan aims to help up to 9 million borrowers to qualify for more affordable mortgages and get to stay in their homes. The devil is in the details, borrowers can’t owe more than 105 percent of their home’s current value on their first mortgage. In other words if you owe currently more than what your house is worth, its called being “underwater” and sorry, you’re on your own. Another problem is that troubled homeowners, who are in the most battered housing markets, will not qualify for aid because their house will have lost too much value. If you look at the map of the worst hit areas, you will find the highest area is Stockton, California with 18.7 percent foreclosures. The rest of California in need is about half-way south to the Los Angeles area, then it jumps over to the Phoenix, Arizona area. There are approximately 24 other dark coded areas across the U.S. In Florida, it shows Tampa and south along both coasts to Miami. Also, Marion County is shown. You can’t say whether we will see any of this mortgage money coming here, but you can be sure a large part of it will go to the heavily populated areas of Los Angeles, where 51 percent of the population is illegals and legal Hispanics, blacks and the poor. The money will go to a select few, where the government hopes to, as soon as possible, pick up some 12 to 15 million new democratic voters when they give them all amnesty and green cards.

Most of the experts agree on one thing and that is, to address our fiscal crisis is to cut spending or raise taxes and we all know which way the administration is determined to go. Everyone who voted democratic should be happy the way things are going.

“Once we realize that government doesn’t work, we will stop dreaming that this or that social problem can be solved by passing a law, or by creating a new government program – or by electing someone who will make Washington more efficient or cost conscious”……………… Harry Browne.

Robert E. Beckner lives in Majestic Oaks with his wife, Sarah. He is a retired private investigator and insurance adjuster. He has also been a photographer and served with the Military Police in the Marine Corps.