3. May 2010 by admin.

With tax day still looming in the rearview mirror, it appears the American taxpayer is not feeling very giving when it comes to the Uncle Sam.

A new Rasmussen Report poll finds 69 percent of Americans are not in favor of higher taxes to pay down the ballooning deficit. The new poll finds that only 18 percent of taxpayers are willing to shell out more money to the Federal Reserve in order to pay down the country’s bloated deficit.

An overwhelming number of Americans would rather see Congress curtail their
spending habits instead of reaching their sticky fingers into taxpayer pocketbooks. With many entitlement programs running in the red, either higher taxes or severe spending cuts are on the horizon.

However, Rasmussen found that most voters believe President Obama’s bipartisan debt reduction commission will recommend tax hikes rather than spending cuts. The poll also disclosed that if the panel suggests tax increases, 78 percent believe Congress will raise taxes across the board.

The results also showed that men were twice as likely to accept a tax hike compared to women. Keep reading

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28. April 2010 by admin.

Like a speeding train headed for a cliff, the conductor knows impending catastrophe is rapidly approaching and the time to act is running out. Just like that conductor, America is now facing a similar scenario as the deficits the country is racking up are reaching unsustainable levels.

The current White House administration has enacted record breaking spending packages like, TARP part two, stimulus one and two as well as a new trillion-dollar health care entitlement program.

While the country continues to face a stubborn recession and families tightened their budgets in order to wait out the economic storm, President Obama continues to put forth larger than life yearly budgets with massive spending programs and no budgetary control in sight.

However, team Obama has put together a debt commission. The co-chairs, Erskine Bowles a Democrat and Alan Simpson a Republican are searching for a solutions regarding America’s impending financial doomsday.

The commission says that at all options are on the table during their first once month meetings. They expect to present the President with their findings right after the November mid-term elections.

The commission is made up of 10 Democrats and eight Republicans and for a recommendation to move forward they must have 14 of the 18 members in agreement. This will not be easy considering the Senate cannot come up with 60 of 100 votes to move legislation ahead. Keep reading

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11. March 2010 by admin.

In a united front all House Republicans voted to end any earmarks in every piece of legislation for the rest of the year.

House Republican Leader John Boehner (R-OH) issued the following statement after House Republicans adopted a unilateral moratorium on all earmarks, including tax and tariff-related earmarks.

“For millions of Americans, the earmark process in Congress has become a symbol of a broken Washington. Today House Republicans took an important step toward showing the American people we’re serious about reform by adopting an immediate, unilateral ban on all earmarks. But the more difficult battle lies ahead, and that’s stopping the spending spree in Washington that is saddling our children and grandchildren with trillions of dollars in debt. Only then will we have succeeded in bringing fundamental change to the way Congress spends taxpayers’ money.”

Democrats had a dissenting view on earmarks. “I don’t believe this policy or ceding authority to the executive branch on any spending decision is in the best interests of the Congress or the American people,” Senator Dan Inouye (D-Hawaii) said.

Rep. Mike Pence (R-IN) Chairman of the Republican Conference Committee had this to say about the passage of the new earmark moratorium.

“Republicans are going to the American people and saying that we are making a clean break from the runaway spending of the past,” Pence said. We are going to start over and put the American people and fiscal discipline back in the drivers seat and that’s going to be quite a contrast to the House Democrats and this Administration.” Keep reading

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25. February 2010 by admin.

A few short days ago Senator Barbara Boxer (D-CA) voted for pay-as-you go legislation – in which she referred to as a way to “help us maintain fiscal discipline while we continue the hard work of rebuilding America’s economy,” and she broke her promise to her Californian constituents by voting for the new $15 billion stimulus bill disguised as a ‘jobs bill.’

This was the first test legislators faced on their new pay-as-you-go rule and they quickly moved to break the promise of paying for all new bills by cutting other programs or raising taxes.
Last month Boxer and her Democrat friends voted for the PAYGO legislation in order to provide political cover for another vote to raise the national debt ceiling by $1.9 trillion to a record $14.3 trillion. This ballooning debt measure was needed after the Democrats maxed-out the government’s credit card in order to pay out $787 billion for the overrated stimulus package.
“It’s inexplicable that Senator Boxer voted to waive the same law that she applauded the President for reinstating just four weeks earlier. This hypocrisy highlights why Barbara Boxer is facing the toughest re-election battle of her career,” said National Republican Senatorial Committee (NRSC) spokeswoman Amber Marchand. “Voters are tired of the out-of-control spending from the Democrat-controlled Congress and they are looking for real change in Washington this November.”
Boxer said on MSNBC that she “believed in PAYGO. If I want to spend something then I’ve got to cut something or figure out a way top for it.” Keep reading

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31. December 2009 by admin.

In the equivalent of a Friday afternoon drop for a story seeking minimal coverage, the federal government announced they would be sinking an additional $3.8 billion in aid to lending giant GMAC. This infusion of cash gives the federal government majority ownership in another failing loan industry company.

The Obama Administration is proving its intention and loyalty to the banking industry and the fat cats that run them by throwing more money into an industry that America once dominated.

The handout GMAC is taking from the taxpayers is $3.8 billion it is minor considering they took $12.5 billion from the government earlier this year. The Teasury Department said it would increase its company stock from 35 percent to 56 percent making Uncle Sam in charge of the failing loan company.

According to the government, four of the nine board members will be personally picked by the Obama Administration and GMAC will be required to pay $14 billion in loans in order to regain control of the company. Keep reading

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