Posts Tagged ‘Congress’

Republican criticism has increased lately concerning the $787 billion economic stimulus and it’s ineffectiveness in the U.S. economy. Now talk is turning to a second spending stimulus plan.

Nearly five months after Democrats used their majorities in Congress to push through the stimulus, the two-year package has had little impact. Americans have watched the country’s unemployment rate surge to 9.5 percent, and it is expected to go higher.

Although we have been asked to have patience, when you have no job, no money, no food to feed your family or a home to provide shelter, it is difficult to wait and hope for the best. Continually being asked to wait raises doubts that the first stimulus package was implemented properly and about its ability to stimulate the economy. Constitution

The Obama administration expected the U.S. unemployment rate to peak at around 8.0 percent when it pushed through the $787 billion plan. But unemployment could hit 11 percent and the country may need a second stimulus package, according to news reports.

It has been reported that only about $100 billion of the $787 billion has been spent so far, and in the coming months a more rapid pace of funds may be released. It cannot come soon enough!

Warren Buffett, the billionaire founder of Berkshire Hathaway, said in an interview on ABC’s Good Morning America that we have suffered “a shock to the system” from the economic problems in the last quarter of last year but felt we had started to rebound.

“We’re not in a free fall, but we’re not in a recovery either,” he told Good Morning America.

“I think a second one may well be called for. It is not a panacea. A stimulus is the right thing. You hope it doesn’t get watered down,” he said.

“We’re going to come out of this better than ever. The best days of America lie ahead but not next week or next month,” Buffett concluded.

Maybe we need a different approach. Maybe this second stimulus package, if selected, should be given directly to the people: you and me and every other tax-paying American. I’ve shared this before, but perhaps we should consider a simpler approach like the one described in an article in the St. Petersburg Times.

The Business Section asked readers for ideas on “How Would You Fix the Economy?” Here is one of the responses: Piggy Bank

Dear Mr. President,
Please find below my suggestion for fixing America’s economy. Instead of giving billions of dollars to companies that will squander the money on lavish parties and unearned bonuses, use the following plan. You can call it the Patriotic Retirement Plan.

There are about 40 million people over the age of 50 in the work force. Pay them $1 million each severance for early retirement with the following stipulations:

1) They MUST retire. Forty million job openings – Unemployment fixed.
2) They MUST buy a new American CAR. Forty million cars ordered – Auto Industry fixed.
3) They MUST either buy a house or pay off their mortgage – Housing Crisis fixed.

It can’t get any easier than that!

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Here is a thought to consider.

This is from an article in the St. Petersburg Times Newspaper.

The Business Section asked readers for ideas on “How Would You Fix the Economy?”

Here is one of the responses:

Dear Mr. President,
Please find below my suggestion for fixing America’s economy. Instead of giving billions of dollars to companies that will squander the money on lavish parties and unearned bonuses, use the following plan. You can call it the Patriotic Retirement Plan:

There are about 40 million people over the age of 50 in the work force. Pay them $1 million each severance for early retirement with the following stipulations: money shirt

1) They MUST retire. Forty million job openings – Unemployment fixed.
2) They MUST buy a new American CAR. Forty million cars ordered – Auto Industry fixed.
3) They MUST either buy a house or pay off their mortgage – Housing Crisis fixed.

It can’t get any easier than that!

P.S. If more money is needed, have all members in Congress and their constituents pay their taxes…

Hmmm…

Here are a few thoughts I would like to share. Please feel free to comment and expound. Yes, you can vent!

1. What are your feelings about the many gun shows with limited or no background checks for individuals to purchase assault weapons? Yes, you have a right to bear arms, but do you feel this is the right way to do it and do you feel safe?

2. There were many “Tea Parties” last week. Did you participate and if you did can you share your experience? What message do you want to send to this Administration and Congress?

3. What can the U.S. do to protect the freighters on open waters against piracy?  FreighterAre they doing all they can do? What should be done to the pirates once apprehended?

4. Were we sold a lie when we voted in state lotteries? If they are so great and contribute so much to our school system, why are our schools in such a mess financially?

5. Why do we pay sports figures so much? Wouldn’t it be better if they were paid based on their production and not just because they have a contract? baseball_gloveMore of an incentive-based pay structure. Baseball, basketball and football players should be paid more like golfers. If golfers don’t play well, they don’t get paid. That’s an incentive!

6. Ever scramble to get to a scheduled doctors appointment and then sit for an hour? Maybe we should receive compensation or a reduction on our bill when you wait more than 15 minutes. What do you think?

7. Why are drivers terrible everywhere?  DriversAre we too busy and distracted to grant courtesy to other drivers? What about just being safe on the roads today?

8. It kind of bugs me that sports figures claim they are not role models. Well, no matter what you say, kids will try to emulate everything you do. So whether you like it or not, you are a role model. But what kind of a role model are you?

9.  Have you ever noticed when watching television that all the commercials are synchronized? It is a conspiracy to stop viewers from channel surfing. I still surf!

10. Why do so many people in Hollywood, especially many women, love the bad boy example of men? What happens to all the good guys?

11. What has happened to customer service? Yes, the economy is bad and unemployment is at record levels, but it seems that common courtesy and customer service would help bolster business especially in this competitive environment.

12. Why is it that in any given sport, the final match is never as good as the playoffs? Makes you wonder how some teams got there in the first place.

13. What has happened to homeowner associations today? home They have got some of the most ridiculous rules. You can hardly be yourself anymore. Oh, OK, now I see why that could be a problem. Just kidding!

 

C’mon, share your thoughts and feel free to vent about these or other thoughts. Talk to me.

Well, here we go again. After an incredible $170 billion dollars has already been given to AIG for their bailout, they add fuel to the fire and a slap in the face to every American with their bonus payout program. To the tune of $165 million dollars! Their reasoning is that they are contractually obligated,  and that they do not want to lose the best and brightest from the industry. Where are these so called bright people going to go? Who will hire them? Are they not the same individuals who participated in creating this mess in the first place? I believe they are. CEO

 

The bonuses will be paid to executives in their Financial Products division. This is the same unit that wrote trillions of dollars’ worth of credit-default swaps that protected investors from defaults on bond backed by subprime mortgages.

Remember, of all financial institutions that have been supported by taxpayer bailout money, AIG has received the most dollars, and honestly it is infuriating as to how the executives are handling this situation. So, what’s next? Who is next and where will it end? Stack of money

Seriously, at what point do you stop rescuing companies and greedy CEO’s and executives that really care nothing about the average person?

Speak up and out, and let me hear your thoughts. We should all be outraged! Write your Congress person and make your thoughts known to this Administration. It is time to use your voice and influence to get America back on track.

I am just saying….”Just let me vent!”

AIG – Bah Humbug!

GM – Ford & Chrysler – Bah Humbug! General Motors

Banks – Bah Humbug!

It seems everyone today is in search of a bailout. Everyone is asking, but the people who really need it -people – everyday, hardworking people like you and me are not! Yes, there is something wrong with this picture.

Yes, I agree there are many industries that are hurting, but the bailout money cannot go very far if everyone keeps putting their hands in the cookie jar. Especially when everyone wants to get their piece of the cookie and then not have any regulation or oversight as to what happens with the money once they have it, like AIG. A company that has hidden where the money is really being spent on lavish outings and retreats, all at the taxpayers expense. How far are they willing to go in paying out bonuses this year for high level executives? I sincerely do not believe they are going to come clean and be open about where the money is really going.

It is a shame…..I mean it, a real shame that it has come to this. But, here we are and what we need to do is decide what we are going to do next about the situation. What’s next? Who is next?

The “Big Three” automobile manuafacturers have all been in Washington with their hands out begging for a bailout, but not one of the companies have a plan to make any changes with their companies to get back on the right track or to get financially stable. It is not that anyone wants the automobile industry to crumble in America, nor do we want to have any ancillary businesses and suppliers to go bankrupt, but at some point, until the automobile industry get’s it, there will be a continual spiral downward. But, if a bailout of any kind is to be given there must be changes. Big changes with oversight on every dollar spent so that the taxpayers do not take another bath without any benefit like we have been doing. crossfire_chrysler_automobile

Spend some time contacting your elected official to add some voice to this situation. Yes, many companies are in trouble, but if you want a handout there has to be some oversight and not just a free ride for failing miserably in their responsibility of fiscal financial obligations.

Speak out! Please!