Is it any wonder that this ? We have politicians from both parties who spend more time twittering than legislating. And, when they do get around to legislating, they vote on bills they haven’t even read. Take for example the Health Care legislation passed last year. Stuck inside the bill was a provision that would have required everyone to file a 1099 form to any party they paid more than $600 to for commercial activities throughout the year, unless paid by a credit card. That would have meant 1099ing everyone from your lawn man (if you can still afford one) to your drycleaner. It passed. Fortunately, Obama repealed it earlier this year.
“Secret $200 Retirement Blueprint” Exposed
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Anthony Weiner is emblematic of the type of problem faced by this country. If you are not yet familiar with the situation, Weiner is the NY Congressman who tweeted all sorts of nonsense and lewd pictures of himself to several women, while recently getting married and impregnating his wife. Further, he went on to lie about the whole situation claiming that his twitter account was hacked and none of this was his doing…until he admitted that in fact, he lied and it was all his doing.
Now, far be it for me to throw stones. My problem with Weiner is not his tweeting, his idiocy, and his cyber infidelity. Those are personal issues that he will have to deal with within the confines of his household. What gets me is the behind the scenes action that Weiner allegedly engaged in. Allegedly, he coached his tweet recipients on ways to manipulate, or lie to any questioners about the situation. He implied to them that they could use certain methods that would throw others off the track and mislead in a way that would be undetectable. Now, if that doesn’t tar the political establishment once and for all, I don’t know what does. What we have in Washington is nothing less than a class of professional liars who have become so good at what they do; they often believe the garbage themselves.
Take the massive deficit and debt that faces the US. One side proposes tax increases and spending cuts. The other side proposes tax cuts and spending cuts. The American population supports tax increases for the wealthy and spending cuts. It’s pretty simple here folks. There has to be a combination of spending cuts to entitlements, means testing and tax reform, including increases to get us out of this jam. Hey, I would suffer along with all the others that the IRS considers “wealthy” – you know us folks who make more than $70,000 per year. But, what is the alternative? The alternative is an even weaker US Dollar, a lower standard of living and economic stagnation. Taxes stink, but they are a part of the life we chose to live when we signed up for a welfare system, which gives the power to spend to people like Weiner.
Interpreting Bernanke’s Babble
Late last week, Fed Chairman Ben Bernanke grew a spine. Well, a soft one anyway. He made clear on one hand that the Fed would not put forth a further round of quantitative easing (QE3) because there was already enough stimuli in the system. Employment and growth will pick up in the second half of the year, as factors that slowed growth, like the Japanese earthquake and higher gasoline prices would not hamper growth. Now, from the other side of his mouth, he said the Fed would continue to be accommodative and maintain its ballooning balance sheet. Translated: interest rates will remain extraordinarily low and we should pray that Mother Nature and the Middle East/North Africa calms down. I have more faith in weather forecasters at this point.
The markets sold off after the announcement and the six down days in a row for the Dow matches the streak endured in 2009, and only 16 other times since 1929. The markets are not happy right now. There are three reasons we are in a mess right now. First unemployment is high, second, housing prices are low and third, we have no plan to fix the first two. Until the first two are fixed, we will plod along and faintly resemble the most powerful country in the world.
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