Are Unintended Consequences the Intention? March 31, 2011Posted by Dr. Robert Owens in Uncategorized.
Tags: Dr. Robert Owens, Financial Reform, Libya, Obamacare, Stimulus
Joining the slow motion delivery of Iraq to the Ayatollahs of Iran and the decade long quagmire of Afghanistan America’s Progressive leadership stumbled into Libya with all the bravado and none of the experience of Custer at Little Big Horn. The UN and NATO get more attention and have more influence on a decision affecting the lives of our warriors and the security of our nation then the United States Congress.
The government drifts rudderless into the whitewaters of war, the mission changes with each new speaker at the podium, and the President appears more interested in sporting events and vacations than in doing his job. With a foreign policy this well directed the unintended consequences are the only consequences we should count on, which makes one wonder how unintended they are.
On the Home front after all the back-slapping died down its plain that as far as Congress goes the new boss is just like the old boss. First the Patriot Act receives rubber-stamp approval. Then a series of highly publicized overly dramatic Continuing Resolutions take one step back and billions of steps deeper into debt. And after the record-shattering victory of the Tea Party led Republicans the Progressive’s Evolution Revolution continues as the Stimulus, Obamacare, and the Financial Reform Bill take affect and strangle the economy.
The Stimulus: a slush-fund to help re-elect the President kicks into high gear pouring out money for make work jobs. The administration trumpets each drop in the unemployment figures as a return to normalcy when everyone knows it is merely a reflection of discouraged workers leaving the job market as America’s work force shrinks. It is patently absurd to think that government spending can grow the economy. Government only gets money by expropriating it from the economy in the form of taxes, inflation, or borrowing. It then rakes off exorbitant handling fees and then puts it back into the economy. If I take twenty dollars out of my right pocket, throw eleven dollars down a rat hole and then put nine dollars in my left pocket how have I increased my net worth?
Obamacare: sold to the American people on the basis of insuring 30-40 million people while at the same time lowering costs is busting the budget. Even according to the Progressive’s own Corporations Once Known as the Mainstream Media the budgets so far proposed by President Obama add in excess of $9.7 trillion to the national debt over the next ten years, as analyzed by the Congressional Budget Office (CBO).
This nonpartisan report contrasts with the still disturbing projections of the White House, which stated that President Obama’s budget would produce deficits adding only $8.5 trillion to the national debt in the same time frame. That was last year and the dominant Progressive party never passed that budget in the face of elections. This year’s budget is even bigger yet the administration claims it will result in lower deficits and a decreasing debt and the cow jumped over the moon.
This optimistic White House projected a deficit of about $1.5 trillion last year or 10.3% of the entire economy which would be the largest since World War II. The report went on to predict a $1.3 trillion in 2011. It is now estimated at 1.6 trillion. The sobering news does not stop there however.
The CBO continues in a considerably less optimistic vein predicting that deficits would never fall below 4% of the economy under President Obama’s policies and that they will begin to grow even larger after 2015. The report also notes that perpetual deficits of this size will make it necessary for the government to continue to borrow at ever accelerating rates and that by 2020 the national debt will account for an astounding 90% of the economy. The CBO also projected that the interest payments on this escalating debt would increase by over $800 billion in the next decade.
The financial reform Bill was passed on a wave of indignation concerning big banks which foreclosed on homes without reading error-filled paperwork.
It is beyond absurd that legislators who routinely pass thousand page bills without reading them were really indignant at the crony capitalists who are among their biggest donors because they foreclose on houses without reading the mortgage papers. Can’t you just see our legislators from central casting in the best Congress money can buy, sleeves rolled-up, coat over the shoulder ready for a photo-op as they plan more regulations to clean up the mess their previous regulations caused?
The crisis with the big banks exploded after President Obama theatrically pointed his finger at the EVIL bankers telling them defiantly, “We want our money back!” as he is lobbied Congress for the imposition for a Financial Crisis Responsibility Tax. It turns out that the bankers are passing any taxes imposed on them to consumers in the form of fees. So now we get to contribute the money to pay ourselves back for the money Washington appropriated from us to bail out the banks.
To finish the cyclical kabuki farce Congress then bails-out their friends again so they can return to the casino floor to place our money, our children’s futures, and the fate of our economy on Red-13. It’s time to deactivate the robo-signers. It’s time to vote out the cronies in Congress and to stop doing business with the cronies in the financial industry. There are alternatives available: citizen-patriots who will serve a few terms and return to the real world and locally owned banks and credit unions.
What’s the shape of our Transformed America? Looking at the government-induced government-sustained Great Recession, the unsustainable debt that grows every day, and the increasing over-extension of our military obligations the now repudiated doctrine of Too-Big-to-Fail may be our last best hope. America’s status as the largest consumer economy in the world makes us valuable to China, the largest manufacturer in the world. Hopefully they will continue to buy and hold our debt. After two years of the Obama Administration it feels like America’s New Motto should be “Help I’ve fallen and I can’t get up!”
Dr. Owens teaches History, Political Science, and Religion for Southside Virginia Community College. He is the author of the History of the Future @ http://drrobertowens.com View the trailer for Dr. Owens’ latest book @ http://www.youtube.com/watch?v=_ypkoS0gGn8 © 2011 Robert R. Owens email@example.com Follow Dr. Robert Owens on Facebook.