Stop the Bailouts Petiton

"No money shall be drawn from the treasury, but in consequence of appropriations made by law..."—Article 1, Section 9, the Federal Constitution.

http://stopbailouts.net/

Petition to the 111th Congress of the United States

Whereas, the United States Congress has otherwise appropriated, committed, borrowed, and printed some $10 trillion throughout 2008 and into 2009 over and above the regular budget, and

Whereas the bulk of these funds have been used to “bailout” or otherwise subsidize banks, financial firms, delinquent homeowners, and other institutions, and

Whereas, all of this record-setting expenditure has been borrowed funds not otherwise available to the Treasury of the United States, and

Where, the conditions leading to the current financial crisis were created by government and are a direct result of 15 years of flawed fiscal, monetary and social policy,

Now therefore, we the undersigned citizens of the United States do hereby call on Congress to take the following immediate actions:

1. Insist that all funds expended or committed by any agency or authorized agent of the United States be subject to a public vote of the elected Congress.

2. Undertake an immediate investigation of exactly how all funds have been spent, to whom the Federal Reserve has issued loans and the terms of such loans, and otherwise make the entire process of the financial bailout completely transparent.

3. Block all moves by the Obama Administration to hand homeowners of mortgages in default or near default a reduction in principle of the amount of the mortgage.

4. Bring an immediate end to the bailout and subsidies for firms and individuals who have made bad decisions and allow market forces to find the appropriate price level of housing and securities to enable the market to again function.

http://stopbailouts.net/

Want a bit more gloom and doom?

I know you don't, neither do I. But it just keeps on coming and it keeps gettin' worse. Or, as my young nephew says, it gets worser and worserer.

IMF may run out of cash to fight crisis in six months, Strauss-Khan warns
Dominique Strauss-Kahn said the Fund needed an urgent cash infusion if it was to continue bailing out troubled economies in the future. Mr Strauss-Kahn also indicated that the world's advanced economies were now tipping from recession into full-blown depression, cementing fears about the scale of the economic slump in rich nations.
The IMF head made the comments in Kuala Lumpur in Malaysia over the weekend, where he is attending a meeting of central bankers from Southeast Asia. The Fund has bailed out a number of countries including Iceland, Latvia and Pakistan but Mr Strauss-Kahn said there would be many others in need of help in the months ahead.

If you read the entire article, about half way down it says, "The Fund is seeking pledges from nations with large current account surpluses and foreign exchange reserves to donate it cash to help bolster troubled countries. "

Japan is mentioned. I'm not sure who else is left in the world with a surplus AND a willingness to help. Can you see Iran volunteering to help bail out Great Britain? the United States?

It was an interesting article in that it shows just how tough things are in our old world.

I don't understand why the IMF (International Monetary Fund) doesn't follow our example and print whatever money they need. Shoot, why aren't these countries that think they're in dire need doing what we're doing?

Here's an idea - if they're not willing to print their own, maybe we could lease out our presses or print whatever they need for a percentage of something that's worth something.

Hopefully you're catching the sarcasm?

Worser and really worserer.

Another group working to stop the stimulus

I'm working with TCOT (http://moveovermoveon.posterous.com) and WAM (www.wam08.org) and keeping up with www.nostimulus.com, to try and stop the stimulus, but that doesn't mean I can't promote other groups who are working hard to fight this thing! We need millions of people contacting their Senators. The more groups like the three I mentioned and the one below, the better our chances of reaching people who are sleeping through what could turn out to be the greatest threat our country has ever faced.

ACTION ALERT: Tell Sen. McConnell to Rally Against the Obama Debt Plan!

Great American Patriots!

You have a chance to make a difference this week. In just three days our group "I Say No to the Stimulus Package" has over 1,250 members and growing!

Now here's what we can do- This week the bill will enter the Senate.

We need the Republicans in the Senate to unite against the bill. Senator Minority Leader Mitch McConnell must rally the troops to say no to the stimulus package. We've put together an Action Alert on TCU describing what YOU can do.

We've posted Bill info here-http://www.tcunation.com/notes/2009_Stimulus_Bill

Here is some of the pork first introduced in the bill:
$1 billion to Amtrack
$400 million to research Global Warming
$2.4 billion to show how green house gases can be removed from atmosphere
$650 million for coupons for people to convert to digital TV
$600 million to buy new fleet of govt cars
$75 million for program to help quit smoking
$21 million to re-sod DC mall
$2.25 billion to Natl Parks
$335 million for prevention and STD
$50 million for Natl endowment of arts.AND MORE!
see more here:http://www.tcunation.com/notes/2009_Stimulus_Bill

This group brought to you by:The Conservative Underground"the social network for conservatives"Join the Fight at: http://www.TCUnation.com

Price, Campbell & Issa on Porkulus

Economic Recovery Act is Wiser Alternative to Massive Spending
Chairman Tom Price (GA-06)
Congressional Democrats have engaged in a full offensive to convince the American people that another massive dose of borrowing and spending is the solution to our economic tribulations. They talk of an economic near-Armageddon without as much as a trillion dollars in new spending. The rhetoric, in point of fact, sounds remarkably similar to the appeals for their last economic solution, the disastrous Troubled Asset Relief Program. (Read more)

An Awful Excuse for a Stimulus Bill
Rep. John Campbell (CA-48)
Last September, we cautiously backed away from the precipice of financial collapse, but we are still a long way from getting our economy growing, flourishing, and functioning properly. Now, more than ever, we need innovative economic policies, not the political gamesmanship already playing out across all areas of government. (Read more)

The $825 Billion Earmark
Rep. Darrell Issa (CA-49)
The more we learn about the proposed Pelosi-Obey $825 billion economic stimulus proposal, the more it looks like an $825 billion earmark. Excluded from the package are good government provisions that would prohibit use of economic stimulus funds for lobbying or political activities. Democratic leaders are repeatedly touting the importance of passing their bill, yet are taking the path of least resistance and failing to ensure that the funds actually go towards the stated goal of creating jobs and jumpstarting our economy. (Read more)

Video - Stop the "Stimulus"

Post this on all your blogs! Spread the word, get involved, call, write, fax... stop the stimulus.

Key Democrat rips stimulus, predicts more bailouts

Maybe there's some hope... We're going to need some Democratic and Independent help if we're going to squash the stick-it-to-us-stimulus package.

Key Democrat rips stimulus, predicts more bailouts
By Bob Cusack
Posted: 01/27/09 01:22 PM [ET]
A key Democrat on Tuesday lambasted the economic stimulus bill that is headed to the House floor, claiming it was put together too quickly and won’t help the economy in the short term. Rep. Paul Kanjorski (D-Pa.), who chairs the Financial Services subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises, said on C-SPAN that Democrats have "lost our way" and "shouldn't be pressed by silly deadlines" of getting the bill into law by the Presidents Day recess...
http://thehill.com/leading-the-news/key-democrat-rips-stimulus-predicts-more-bailouts-2009-01-27.html

How long can we keep paying?

I saw the numbers flash across the screen the other day re: those filing for unemployment. We're cranking out benefits for first-time claims in excess of 550,000 per week right now! First-time claims for unemployment benefits in the week to December 13 was 554,000, the previous week's revised figure was 575,000 per the Labor Department.

Here's another stark statistic: The jobless rate has risen to 6.7 percent. This is the highest rate since October 1993.

I have no idea how much money is being shelled out to cover those benefits. I know the government keeps extending unemployment benefits. Businesses "fund" unemployment benefits through payroll taxes in part. It's administered through the state with the federal government funding the program when unemployment is high and the states can't cover the costs.

It was intended to be a short-term program to help cover basics while the unemployed individual looked for a new job.

Then we have the bailout. Our politicians are tinkering around with billions and billions of our current and future dollars to bail out select businesses.

According to the New York Times the Treasury has now spent the first $350 billion of the bailout (http://www.nytimes.com/2008/12/20/business/20tarp.html).

The states are in trouble and have their hands out. Insurance companies are trying to restructure to meet the bailout requirements. The government just changed the rules of the bailout and opted to throw money at the auto industry. Every time I tune into the news I hear of another business that is laying off people or another business group with their hands out.

I heard on the news that 7% of companies who were matching 401K employee contributions have stopped doing so. Businesses are cutting back. States are considering increasing taxes. Some governments and businesses are going to four-day work-weeks. Companies aren't giving out Christmas bonuses.

I could go on with the doom and gloom, but we're all aware of the state of the economy.

It's almost a vicious cycle, or maybe it's not "almost". I hear the bad news and I decide not to go buy the new car I wanted or to buy some Christmas gifts. I decide not to fly to see my family opting to save the money. You get the idea --- we're all hanging onto our money, just like the banks! The irony is that if we'd go shopping we'd help the economy and maybe stop that vicious cycle.

Sooner or later the government is going to have to shut off the money spigot. There's only so much of our money we can be expected to hand over to take care of companies that made bad decisions. My biggest fear is not that the economy will collapse and that we'll go through another depression, which would be horrible. No, my biggest fear is that Obama, Pelosi and friends will use it as an excuse to move us into a more socialistic society. I fear that more companies will let the government intrude inside their board rooms just to stay afloat. Given my druthers I'd choose bankruptcy and depression over socialism. One is temporary, the other is the ruination of the very foundation that has made America the greatest country in the history of this world.