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Archive for the ‘Obama’s bailout’ Category

>Obama Taking Money From Our Troops, Giving It To The IMF

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FreedomWorks
Jun 04, 2009

Defeat the $100 Billion IMF Bailout!

Contact:
Brendan Steinhauser
(202) 942-7612
bsteinhauser@freedomworks.org

President Obama and some Members of Congress want to use a war supplemental funding bill to funnel $100 billion to the International Monetary Fund. (IMF) They are tying the IMF bailout to the supplemental war spending bill so they can ram it through, claiming it is all “for the troops” when the IMF bailout has nothing to do with the troops.

TAKE ACTION!

This is dirty inside the beltway politics at its worst and we can’t let Congress get away with it. The IMF Bailout is just the latest scheme put forward by a liberal White House and Leftist leaders in Congress that threatens to waste billions of hard-earned taxpayer dollars. Supporters might claim that the money for the IMF is only a loan, but the bottom-line is it puts American taxpayers at risk for actions taken by the IMF and the countries to which they loan. Ultimately, it could lead to $1 trillion or more in inflation for the U.S. dollar and other major world currencies as the money is channeled by the IMF to bail out foreign governments and companies.

Especially in such turbulent economic times, this policy is a recipe for disaster.

TAKE ACTION NOW and tell Obama and Congress to go back to the drawing board on the war supplemental. This legislation to fund American troops should not be a “Christmas Tree” for the liberal Left and their pet projects.

Sincerely,
Dick Armey
Chairman
FreedomWorks.org

P.S. Support FreedomWorks campaign to stop the IMF bailout with a generous contribution by clicking here!

>Almost Overnight America’s Come From Capitalism to Socialism

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Communism – Are We There Yet?

Derek Powask of the Why Perspective begins his site’s best blog in October, 2008 by saying: “We have fought wars over which one is better [Cummunism or Capitalism]. We have created opinions on which type of government is better. We have even created analogies to buying and selling cows. The problem is, neither one is better than the other. They just have different times and places to work.”

Derek believes that Communism is an equality program, but that everything is free. You see, the means of production – like socialism – belong to the government. “You work, I work, and we can exchange goods. This allows the people to live an easy lifestyle without ever having to worry about the problems associated with currency or economy. The person who can makes shoes creates them for the community and puts them into the market. Essiantly, everything in Communism is free.”

Important news flash! Nothing is free, my naive friend. You must give up something to get something else. That’s a basic law of nature. I also take issue with his idea that under Communism “the people live an easy lifestyle …” Ask the millions of former Communists who went to bed hungry each night if they lived an easy lifestyle.

Ask the moms and pops who tried to rear their children in a communal atmosphere. I’ve been there, I’ve seen how they were living when I visited Moscow and St. Petersburg (Lenningrad) in 1961. We visited an apartment house and saw that the most important room of the house had two or three sinks and stoves. Three or four families used this kitchen together. Each family had one room for the rest of their activity, including sleeping. Can you imagine living that way?

My older brothers and sisters grew up poor in Utah and we didn’t know it. We always had everything we needed, especially loving and hardworking parents. I can’t say enough good about my parents. We lived in a two-room home (until Dad excavated by hand the basement and made two more bedrooms). But in those two bedrooms were five of us.

My older brother and I slept in a small bedroom, in a bed together. That was way before the era of queen-size or king-size beds. Dad and Mom were in the adjacent small bedroom, and at the foot of their bed was my younger sister who slept there until she was 13 when the basement became available for us two older boys, freeing up that back bedroom for my sister.

You want to know poor? I’ll tell you about being poor in America and I didn’t like it. I wore cast off clothing, anything my fantastic parents could find for each of us, because Dad didn’t make a lot of money. Yet we were happy. As time progressed we grew with the growing post-World War II economy and things gradually got better. The thee youngest children of this family of eight didn’t have it so bad. Don’t tell them I said it, but it’s true.

After I left in 1958, they went on vacations each summer to Disneyland in California. The first time I went to California was to do my basic training at Fort Ord, in Monterey, which has now been razed and replaced by some beautiful housing areas. Thems were the good-old days.

Back to Communism. Russians, Poles, and Checkoslovakians did not appreciate Communism. Neither did the East Germans, they hated it. They were poor while the West was prospering. Our country’s military might didn’t knock down the Berlin Wall, Communism’s failure to provide basic goods and services for its people knocked it down.

Ronald Reagan took credit for it, and rightly so. Had he not been so adamant in building up our military, in telling Mikail Gorbechev to “tear down that wall.,” it may not have happened. But the U.S. won the Cold War and in 2009 America is losing the war on terror and the Economic War because we had George Bush and Hank Paulson in office in 2008 and now we have a true socialist in office, Barak Obama and a wishy-washy, failed Treasury secretary, Tim Gaithner. He’s so innane he can’t even tell reporters what is happening to our economy or if the trillions we’ve spent are doing any good. Fire the man if he’s that incompetent!

Obama’s goal seems to be to bankrupt America and “change” America for the worse. He doesn’t have a love of America or its people. The prescription for defeat of our beautiful way of life was embodied in the way Paulson handled the economic downturn in March, 2008.

His first mistake was drastically cutting the Discount Rate, the rate the Fed charges banks to borrow money, from 5.25% to 2%. That was a catastrophic error. It completely weakened the dollar and brought about soaring oil prices that peaked at $140 per barrel until diminished demand put it in a freefall to under $40. Gas prices were up around $4.00 per gallon and dropped to about $1.50 for regular in many states. It has rebounded to about $2.00 a gallon on today’s date.

Now the Obama Gang, under the direction of a very poor economist, Timoth Gaithner, has done all the wrong things, compounded Bush’s errors of feeding this gas fire with “water” or spending, making things even worse. The double wammy trillion-dollar rescue plans Obama has going, on top of Bush’s trillion-dollar TARP money, means we’ll have a whopping $3.5 trillion dollars thrown at the problem. Money we’ll have to borrow from China. But I’ve got news – even China doesn’t loan that kind of money. That means we’ll resort to the old fashion way of producing money – printing new bills.

That means retirements of people are going to wither away. Wages will stay the same but you won’t be able to buy as much with a dollar. Rapid spiraling commodity inflation will become commonplace.

I hope in a few years we don’t have to look back on how well we live today and say; “Those were the good old days.”