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Tea Party Turns Five

February 27, 2014

From September 2008 to February 2009 nearly $1.6 trillion America didn’t have had been spent by our government: TARP to bailout Wall Street ($700 billion), plus the auto bailouts ($80 billion), plus the Stimulus to bailout Democrat constituencies ($787 billion).  When would it stop?  Who would end up paying for it?  Anyone paying attention was [...]

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Angelo Codevilla Takes on the Republican Establishment

February 23, 2013

On Thursday’s Mark Levin Show, Mark read from an article by Angelo Codevilla during most of his first hour.  The article’s title,”As Country Club Republicans Link Up with the Democratic Ruling Class, Millions of Voters are Orphaned,” only hits the surface of the message Codevilla is trying to convey.  For those who don’t remember, Codevilla [...]

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Obama on Debt Limit… in 2006!

January 15, 2013

After listening to pieces of Obama’s press conference yesterday on the debt ceiling, I couldn’t help but add this statement by then Senator Obama in 2006 to the echo chamber: The fact that we are here today to debate raising America’s debt limit is a sign of leadership failure.  It is a sign that the [...]

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US Debt Tops $16 Trillion as DNC Gets Under Way

September 4, 2012

On the first full day of the 2012 Democrat National Convention, the Treasury Department says that our national debt will eclipse the $16 trillion mark today. That number looks like this: $16,000,000,000,000.00 That’s fitting since Obama has added roughly $5.4 trillion to that number — more than any President ever.  He inherited TARP, passed the [...]

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You Think YOUR Three-Year-Old is Expensive!

February 17, 2012

Three years ago today “Hope and Change” became law!  The Porkulus Stimulus became the greatest Keynesian experiment in history, transferring $787 billion from the productive class, our future Chinese masters, as well as our descendants to union hacks, front-groups, and make-work, not-so-shovel-ready maintenance tasks.   It was going to be so awesome that unemployment was [...]

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Depths of the Fed’s Bailouts Revealed

August 23, 2011

The scope of the Fed’s bailouts are revealed in this Bloomberg article from Sunday.  Be warned though, it elicits more nausea the longer you read it. Essentially, the bailouts were considerably more far-reaching than we were told, and despite nearly three years of new regulation, legislation, inconsequential hearings, and litigation, the fundamental reasons for the [...]

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What’s a “Bilderberg”?

June 12, 2011

Europe has a long history of wealthy, well-connected nobles ruling the masses.  In the last 150 years or so, the proliferation of the social welfare state has mollified the plebs, who around that time concentrated in industrial urban centers which could get feisty depending on the demagogue du jour.  Now, Europe is full of acquiescent, [...]

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The 2011 Economy

January 3, 2011

On this first business day of the new year, economic analysts are putting forth their own predictions for the economic situation that will unfold in 2011.  The flailing economy has been one of the major stories for the past two years, and one of the major reasons for the Republican electoral landslide this past November.  [...]

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“Quantitative Easing” Inflation Fuse was Lit Yesterday

November 4, 2010

With all the highs and lows of the last few days, a news story which seemed to have been buried by all but a few news outlets was the Federal Reserve’s decision to buy $600 billion in government bonds, with the room to buy up to $900 billion if needed.  This “quantitative easing” is an [...]

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Another Mortgage Bailout Looms

September 5, 2010

Democrats need voters to show up in November.  All indications are that an electoral knifing is in the works.  So what’s  Obama, the leader of the Democrat Party, going to do to try to help them?  Well, research and development tax credits are on the way, but I’m sure there will be plenty of “green” [...]

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TARP Loan Modification Program a Failure

March 23, 2010

It appears that Obama’s prized home foreclosure forgiveness program, which he created as an extension to the TARP program, is a complete and utter failure, at least according to the TARP program Inspector General.  In fact, the IG says that the program actually may be doing more harm than good.  For one reason or another, [...]

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Sen. Judd Gregg Schools Peter Orszag

February 3, 2010

Sen. Judd Gregg schooled White House Budget Director Peter Orszag over the White House’s plan to reuse repaid TARP funds for other purposes.  Gregg points out that the law requires that repaid TARP money be used to pay down the debt, and pushes Orszag on that point.  Fun to watch.

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How TARP Failed

January 31, 2010

No one liked TARP (the Troubled Asset Relief Program from the Fall of 2008), but so many have credited it with averting a more massive economic collapse in the Fall and Winter between Dubya and the Obama Nation.  Well, the Special Inspector General of the TARP Program, Neil Barofsky, has a few things to say [...]

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Dems in 2010: New Year, Old Target

January 2, 2010

I laughed out loud when I saw this headline from Fox: “Desperate for Edge in Election Year, Dems Turn to Old Strategy.”  What strategy, you ask?  Let’s go through the old Democrat Playbook: Class warfare?  That’s a given.  Republicans are racist, homophobic neanderthals?  Not yet, but wait for it by summer.  Blame Bush?  Bingo! The [...]

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The Other Shoe

December 15, 2009

Consider this: $700 billion for TARP $800 billion for the Obama Stimulus Porkulus $170 billion for Bush’s 2008 stimulus $5.5 trillion in outlays by the Federal Reserve to shore up the banking industry $3.1 trillion 2009 Federal Budget $3.55 trillion 2010 Federal Budget That brings the total spending of the Federal Government for 2008 to [...]

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On TARP, The “Experts” Were Wrong

October 27, 2009

The Wall Street Journal, originally one of the biggest supporters proponents of the Troubled Asset Relief Program (TARP), wrote an editorial today about how they were wrong in pushing for its passage, and that it needs to end immediately.  Unfortunately, the Obama administration is in no rush to end the TARP Program.  The Journal now [...]

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The Cost of the Crisis: $23 Trillion

July 21, 2009

The events of the last year have produced a flurry of legislation so complex, and debated and passed so quickly, that most of the citizenry (not to mention the members of congress) have no idea what the government has passed and how much we are spending.  Enter Neil Barofsky.  Barofsky is an economist who also [...]

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Supreme Court Issues Stay Against Chrysler Bankruptcy

June 9, 2009

The Supreme Court issued a stay on the Chrysler bankruptcy ruling yesterday afternoon, shortly before a court of appeals imposed deadline would have made the deal final.  The Chrysler bankruptcy, engineered by the Obama administration, would have engineered a sale of Chrysler to Italian automaker Fiat, and paid off the unions at the expense of [...]

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Once You’re TARPed There’s No Going Back

April 6, 2009

Stuart Varney wrote an interesting OpEd in the Wall Street Journal Saturday that just caught my attention.  Apparently, four small banks in Louisiana, New York, Indiana and California have decided to pay back the $340 million TARP bill loaned to them by the Feds last Fall.  Awesome, right?  Just as promised by Paulson last Fall!  Maybe this will start [...]

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Banks Don’t Want Bailout Anymore

March 12, 2009

Banks are looking to return bailout money as Congress and the President attach more and more strings to the money.  It seems that the banks are just happy to go on their own when the Federal Government starts to put restrictions on how to run a business.  Besides restrictions on executive pay, which would seriously [...]

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The Inmates In Charge of the Asylum

February 11, 2009

I’ve been watching in somewhat horror the events of the last few weeks unfold.  We have this major financial crisis, which consists primarily of a series of bad assets that were created and fostered by liberal government programs.  And how are we trying to fix it?  With more liberal government programs.  TARP, by all accounts, [...]

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Here a Trillion, There a Trillion

February 10, 2009

$9.7 trillion.  That is currently how much spending has been committed by the Federal government to fix this crisis in the last year.  Of that: $800 Billion is from the now-certain stimulus $700 Billion for the TARP Program $170 Billion from the Bush stimulus last year $5.4 Trillion spent or committed in bailout buyouts by [...]

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Had Enough of TARP? Here Comes BARF!

January 30, 2009

First, there was the “Troubled Asset Relief Program” (TARP) which was the first nauseating bailout last fall.  Well, tax-cheat and Treasury Secretary Tim Geithner has an idea about what to do now that TARP has not really helped get the markets moving:  what Liz Moyer calls “BARF”, or the Bad Asset Repository Fund!  Here’s the [...]

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What Are We Doing Here?

January 28, 2009

I am getting the feeling that history books will look at this economic crisis and wonder what the hell we are doing?  It seems that the idea of billions and trillions of dollars has lost its shock value with the American People.  We had a $750 billion TARP bailout package, the FED has increased the [...]

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Bailout, Part II

January 16, 2009

The remaining 350 billion of the $700 billion tarp bailout was released to the Treasury Thursday to do with as it sees fit.  A no-confidence vote was taken in the Senate, and it was defeated 52-42.  It needed passage in both houses to kill the rest of the bill, so any house vote is meaningless. [...]

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Bailout Fever Poses Problems for the Baseline

January 13, 2009

A common element of proponents of the current bailout / stimulus fever is the fact that it is required to fix the economy, and temporary.  Thus, the estimated budget deficit of 2009 of $1 Trillion is seen as unfortunate, but necessary. In an editorial at Bloomberg, Kevin Hassett of the American Enterprise Institute points out [...]

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Boehner: No More Bailout Money

January 12, 2009

House Minority Leader John Boenher announced yesterday that he opposes releasing the remaining $350 billion of the TARP Bailout fund unless there is a proven need. I think until there is a demonstrated need in our economy and a plan to address that need, I think it would be irresponsible for Congress to release the [...]

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Bush Continues March to Socialism with Auto Bailout

December 19, 2008

President Bush today defied the will of Congress and voted to use $15 billion of TARP money (the original Paulson bailout that was appropriated to save failing financial institutions during the credit crunch) to bail out the auto industry.  The bailout went to Chrysler and GM, as Ford decided it did not need a bailout [...]

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Thwarting the Will of the People

December 12, 2008

Last night, Senate Republicans successfully defeated the auto-bailout bill in a cloture vote (which requires 60 votes to succeed) due to lack of union concessions.  It is now being reported that the Bush Administration, through the Treasury Department, is going to ignore the will of the people’s elected representatives, and take $15 billion of the [...]

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