Another Quote On The U.S. Debt

"The problem is, is that the way Bush has done it over the last eight years is to take out a credit card from the Bank of China in the name of our children, driving up our national debt from $5 trillion for the first 42 presidents – #43 added $4 trillion by his lonesome, so that we now have over $9 trillion of debt that we are going to have to pay back — $30,000 for every man, woman and child. That’s irresponsible. It’s unpatriotic." Presidential Candidate Barack Obama in Fargo, ND Campaign Event July 3, 2008

Remember, Barack Obama would not wear a U.S. Flag lapel pin on the campaign trail, preferring to find other methods for expressing his love for the USA and all it stands for; The U.S. Constitution and the rights it protects.

A Quote and an Observation

"The Constitution is not an instrument for the government to restrain the people, it is an instrument for the people to restrain the government -- lest it come to dominate our lives and interests." - Founding Father Patrick Henry

I just read an interesting article on the "Debt Runup Race" between George W. Bush and Barack H. Obama. Bush took 96 months to add $4.9 trillion to the U.S. debt. In 31 months Obama added $4.0 trillion to the U.S. debt. Is Bush a slacker compared to the overachieving Obama?? Or is it the other way around, Bush is an overachiever in fiscal responsibility compared to Obama's tax and spend, rinse and repeat approach to the U.S. debt problem??? Unless Obama really puts the brakes on the pending train wreck of the U.S. debt, I think Obama's one term spending will make Bush look like a penny-pincher, not a common characteristic of a U.S. politician, regardless of party.

I'm in Love!!!

Wow, Amilya Antonetti,chairman and CEO of AMA productions, is even smarter than she is gorgeous. Here is a brief clip of her on Fox morning news with Neal Cavuto. Just watch this to see what I mean.

S & P lowers the U. S. credit rating to (gasp, moan ) . . . . AA+!!!

Standard & Poor reduced the U.S. government's long term credit rating to AA+. The good news is AA+ is the 2nd highest credit rating. Microsoft now has a higher credit rating than the U.S., but AA+ is still the envy of many governments and corporations. Ford Motor Company has a B+ rating, pretty impressive when you realize Ford did not request any stimulus, bailout or any other form of handouts from the U.S. government.

Here are a few fearless predictions on the effects of this historic event. (S&P has rated the U.S. government's long term debt at AAA since they first rated it in 1917)

1. No increase in the interest charged to the U.S. government. Remember, AA+ is still investment grade. Also remember lots of countries and the U.N. are dependent on the U.S. for protection from larger enemies.

2. We do have a large stockpile of thermonuclear weapons.(sarcasm alert!!)

3. We give away loads of money in foreign aid.

4. In the long term, The U.S. will learn a few valuable lessons and mend its ways. One of the biggest messages the election of 2010 sent to Washington was the lack of approval many voters have for the Pirates of the Potomac (our politicians). They believe D.C. suffers a severe lack of adult supervision.

Ignore all the finger pointing and blame setting. the U.S. did not get into this depression overnight because of one political party or one presidential administration. It took a long time and a lot of bad judgment by lots of people to get into this mess. It will take a while to undo the damage. The Japanese have a saying, fix the problem and not the blame. (Sean Connery to Wesley Snipes in Rising Sun, a great movie worth watching more than once )

President Obama Going Bipolar Over Corporate Jets

In Wednesday's raging rant presser against Republicans over the debt limit extension, he specifically named corporate jet owners as a group the Republicans should deny any tax breaks to in order to help lower the deficit without cutting taxes and spending. This struck me as peculiar for at least two reasons. President Obama's stimulus bill encouraged purchase of large manufactured goods, corporate jets included, by offering accelerated depreciation. Accelerated depreciation allows corporations to write off more of the jet's purchase price on their tax returns. The goal was to get companies spending to help the economy, especially the ailing aviation industry. In September 2010, Mr. Obama signed the H.R. 5927, the Small Business Lending Fund Act. This bill also offered tax breaks for companies that purchased corporate jets. Mr. Obama said in Wednesday's speech, “I’ve said to some of the Republican leaders, you go talk to your constituents, the Republican constituents, and ask them are they willing to compromise their kids’ safety so that some corporate jet owner continues to get a tax break.” Quite a change of attitude, wouldn't you say?

I cannot imagine any private corporation, no matter what size it is, using a Boeing 747 to haul their CEO and senior executives around. Mr. Obama frequently uses Air Force 747s for his travels. According to Boeing, the 747 gets 5 gallons per mile. That is no typo folks, 5 gallons of jet fuel per mile. Mark Knoller, CBS news reporter, found this out from Boeing so he could report this on Mr. Obama's trip to DEs Moines, Iowa, to plant a single tree for earth day. Let's face facts, folks, Obama is just another limousine liberal. Do what I say and not what I do because I am smarter, wiser and better than you.

$3.6 Million for studies of drugged up monkeys on Taxpayer's Tab

Where's PETA when we need them? The National Institute for Drug Abuse, a division of the National Institute of Health, received $3.6 million over the last 10 years to get rhesus monkeys to smoke PCP, Heroin, Meth and Cocaine. One study even researched the effects of drugs on female monkeys during different stages of their menstrual cycles. I can just hear ex Madame House Speaker Nancy Pelosi complaining of gender discrimination because no studies were made of the effects of contraband drugs on male monkey menstrual cycles. What an affront, wait, make that assault on women such as Ms. Pelosi.

Here's the part that's really shocking. Monkeys react to drugs like people do: dilated pupils and high strung agitated behavior. Wait one minute, don't researchers experiment on monkeys because they are so similar to humans? I've got a better idea. Leave the monkeys in the jungles and rain forests, use convicts for research. The U.S. has lots of drug addicts in prisons now, let them earn their keep as research volunteers. They can get money like research volunteers on the outside do. Maybe give them less money and a get of jail early card as a reward for volunteering. Just make certain they live drug free after the research is completed so they will not fall back to their old habits when they are released.

(Yet Another) Warning on The U.S. Government Debt

Today Fitch's Ratings issued a statement that if the U.S. Government does nothing to correct its growing debt problems it will review the U.S. Government's credit rating in August 2011. August 2011 is when the current emergency measures to extend the U.S. Government's ability to borrow money under the current debt ceiling expire. Moody's as well as Standard and Poor rating services have already issued warnings of a credit rating review. Is anyone in Congress or the Administration paying attention here?? We'll find out by Sept. 30. 2011, when the 2011 fiscal year ends.