We knew it was coming because the situation was so clear. Congressman Paul Ryan introduced a bold plan to deal with out of control government spending and the Democrats had no credible plan of their own. So what does one do in a case like that? Lie, smear, distort, and scare the uninformed into thinking that we should shut up and surrender our liberties to the government. But the level of the latest lies is remarkable if only because of how shameless it is.
Bias
It wasn’t long after the Paul Ryan budget was released that the disinformation Democrats began trumpeting seniors being starved, being unable to afford health care, and the usual demogogic scare tactics. But doctors are dropping coverage, the key slices of the pie above are growing much faster than inflation, and the Democrats have no plan other than the age old cut benefits (reimburse doctors less) and increase taxes, just enough to kick the can down the road for someone else to deal with. Congressman Ryan had the guts to come up with a plan to actually fix the system by giving seniors a choice and they seem to like the idea. Why?
On October 17, 2010 members of TeaParty365 and Media Matters gathered in front of the New York Times headquarters and later in the day at the headquarters of NBC to protest the liberal distortions of those and other main stream media outlets.
httpvh://www.youtube.com/watch?v=7fCL_o-WhFo&hd=1
It is interesting to note the tea party members who can be seen (Chinese, black, young white female) are not what the main stream media keep telling us make up the tea parties, while the liberal who stops to curse at the protest is an old white guy. The mainstream media did come to see what was going on and interviewed the organizers of the event as well as this correspondent, but seemed bored and disappointed that some self fulfillling controversy didn’t break out. Attempts to find any footage of their filming after the fact were fruitless.
In his resignation letter, Hal Lewis, writes nostalgically about his sixty-seven year association with the American Physical Society. He paints the picture of the early years as being a pure love of science and no real chance to become wealthy in the career choice of a physicist. All of that has changed and there is no more glaring example of that than the expert with no scientific training, Al Gore, leading the parade. Here is part of his letter.
Republicans have to learn to stop fighting by the Marquis of Queensbury rules, while Democrats, bite, kick, pull hair, scratch and hit below the belt. Yes, Christ told us to turn the other cheek, but he also overturned tables, formed a whip out of cords and drove the money changers from the temple. In other words, sometimes you have the hit the bully hard between the eyes before he learns to stop being a bully.
So if the Republicans regain control of Congress in November, they should open the new Congress in January with detailed hearings on what happened to Fannie Mae and Freddie Mac and don’t pull any punches. By that I mean if they need to put Andrew Cuomo in the witness chair, even if he is the governor of New York, which he probably will be, then they should do so. It’s time to stop playing patty-cake.
For all the hoopla of the Dodd-Frank Act, Fannie Mae and Freddie Mac were left out of the new regulations. Oh, we’ll get to those later. Okay, let’s get to them with the Republicans in charge. Let’s expose how it was our government that got us into the housing mess and let’s do this before the Democrats re-write history and paper over their culpability in the greatest financial crisis since the Great Depression. It’s time to put the big lie to “it’s all Bush’s fault and Republican policies.”
The papering over has already started by none other than Franklin Raines the former head of Fannie Mae who received bonuses of over $90 million while at the helm of Fannie Mae and was also charged with cooking the books that helped him receive those bonuses. He reached a settlement with the SEC and gave back about $1.8 million from the profits in the sale of Fannie Mae stock and gave up $5.3 million in future benefits related to his pension. But he essentially kept the rest, what the Wall Street Journal called a “paltry settlement.”
Mr. Raines claims the demise of Fannie Mae and Freddie Mac, to which taxpayers have already coughed up $145 billion, was due to bad credit decisions made after he left the firm. To put it in his own words:
“The Journal had been warning for years that the on-balance sheet portfolios of Fannie and Freddie would lead to their demise. Mr. Carney suggests that excessive leverage was the culprit. Unfortunately, neither of these were involved. Nope. Just bad credit judgments. Decisions made, by the way, while operating under close regulatory scrutiny.”
According to the Wall Street Journal “What he doesn’t say is that Fan and Fred had a political and legal mandate to support low-income housing.” To meet this mandate which had increasing goals each year, Fannie and Freddie had to cast a wider net to find these borrowers and the wider they cast the net the lower their standards had to be. Thus more creative types of mortgages were created to lower the bar such as, interest only loans. This scheme would continue to work as long as housing prices kept rising but that could not go on forever. When the music stopped a lot of people were left standing without chairs and we all lost. People’s credit ratings were destroyed, mortgage securities were worth far less than face value, people walked away from houses, and taxpayers were forced to pick up another “too big to fail” enterprise. By the way, where in the Constitution does it authorize the federal government to get involved in helping people buy houses?
The secret veil put in place by the main stream media has been lifted. With the Internet and the bloggers and cable television and talk radio, the main stream media can no longer keep information that does not comport with their agenda hidden from the American people. The American people are energized and informed but that may not last long after the election, if we don’t continue to engage them. Uncovering the true “swamp” that is our federal government and draining it should begin by letting the sun shine in. So let’s do away with the good ol’ boy politics of not rocking the boat when you gain control so that they won’t rock the boat when they get it back. If we don’t have a new class of non-incumbents who are willing to go to Washington and clean it up, really clean it up, we need to get rid of them and put new people in their place. If that means replacing Republicans with better Republicans or Democrat incumbents with better Democrats, so be it. We have to end the process of only being able to choose between two pathetic life time politicians who have never lived in the real world.
The Democrats like to point to the Clinton presidency as proof of their fiscal responsibility. It was a period of strong growth, balanced budgets, and prosperity. They then point to the Bush presidency, all eight years of it, and deride it for deficits, and ultimately a very severe financial crisis. But it is worth taking a moment to recall that the federal government is made up of three co-equal branches of government with built in checks and balances. The Congress is not subordinate to the president and it does not work for him. It is an equal branch of government that checks and balances the power of the presidency. For the purpose of this discussion, I will leave out the third branch, the judiciary.
Despite the famous 1992 Clinton campaign slogan, “It’s the economy, stupid,” the recession had already ended in March 1991. When Clinton took office he had a Democratic Congress and he pushed through a massive tax increase in 1993 without a single Republican vote. We know what happened to Congress in 1994, the Republicans took over for the first time in 40 years. Speaker of the House Newt Gingrich tried to pass a Balanced Budget Amendment to the Constitution, which was included in the Republicans’ Contract with America. It passed in the House but failed by one vote in the Senate. After losing this round, Gingrich met with the Republican leadership and put forth the idea of acting as if the amendment had passed and just start submitting balanced budgets. They succeeded in the last three years of the Clinton presidency to produce budget surpluses and decrease the national debt. This included a tax cut by the Republican Congress in 1997, and the economy grew much stronger after the Republican takeover of Congress than under an all Democratic government.
In the 1996 election, the Democrats regained control of the Congress under Nancy Pelosi and Harry Reid. Up until that point the economy had grown steadily under President Bush despite two wars. With Bush in the White House and the Republicans in control of Congress we had tax cuts and seven years of economic growth. In December of 2007 the economy went into recession, almost one year after the Democrats regained control. Now with a Democrat in the White House, and the Democrats in control of Congress we are looking at massive growth in government, a whopping tax increase bearing down on us that will hit on January 1, 2011, and a growing debt that may eventually bankrupt us.
So what is all this talk about eight years of failed Republican policy? Under Clinton and a Democrat Congress it was two years of a tax increase and modest growth. Under Clinton and a Republican Congress it was six years of tax cuts, budget surpluses and strong economic growth. Hmmm….same president, different parties controlling Congress. Under Bush we had seven years of growth and tax cuts with a Republican Congress. Under Bush and a Democratic Congress, recession, fiscal crisis. Hmmm…same president, different parties controlling Congress.
But don’t expect honesty on the campaign trail from the Democrats. It’s just not the Chicago way.









