Update: We are seeing our markets collapse today as they have consistently since the spendulus bill was passed. This collapse is the result of a series of lies and betrayals by government officials and CEOs. The lies are palpable. Just days before the last bailout of Citibank, the CEO told us how the bank was solvent and had a strong balance sheet. Several weeks before the dividend was cut by GE 70%, GE’s CEO told everyone GE would never cut the dividend. And Obama and the government have lied to us repeatedly about how the spendulus package would help.
AIG was another huge lie. Markets need faith. They need to know the truth. Each lie costs America billions more than it would had we followed proper disclosure to the world about this problem.
Each lie magnifies the problem. Our government officials let us down passing legislation to spend money instead of stimulate the economy, including these three that betrayed us the most? One has to ask why we are not being told the truth. Is it truly that horrific that the world would implode? Perhaps, but more likely the lies are making it seem that way and making us wary of everything around us.
We elect our officials to represent us in Congress. We all have beliefs that lead to the results of an election. The various constituencies in the nation may not totally agree with each other on policy, and they get to vote for their own Representatives and Senators to represent them in Congress.
The government has gone so far liberal now that our system can no longer work. It is relatively easy for the Democrats to provide perks to individuals in the Senate and House to pass their specific bill. These can be subtle, but with Democrats having absolutely no problem evading taxes among other questionable activity, it is not surprising that their efforts to court Republicans away from the very core of their beliefs is likely to occur.
As a result, Republican Sens. Susan Collins and Olympia Snowe of Maine and Arlen Specter of Pennsylvania broke ranks to cast their votes to advance the stimulus package despite the fact that the Congressional Budget Office warned of dire consequences if it passes. Their motivations are unknown, but it not for the betterment of America nor is it for the betterment of their constituents.
We believe these members of Congress are cutting their own throats. By betraying their party and those that elected them, they will likely get ejected from Congress in the next election. The problem is that a Democrat may take their place thus continuing to widen the abyss between fairness and one sided chicanery.
Ellen Ratner delivered a satirical article on foxnews the day the bill passed. It humorously implied she expected the plan to work. We think, or at least hope, she was joking.
Checks and balances in our system are there for a reason. It is not intended to be ruled by a single party, for if it is, those checks and balances are thrown out of whack. When you see a bill like the stimulus bill which will only release 29 billion dollars this year, but will give Democrats control over a trillion dollars in return, you can easily understand the issues at hand.
If this bill is passed, it is ashame. If it is because we were betrayed by these individuals, it is even more of ashame. Their is nothing worse than a traitor. At least you know who your enemies are.