Senator John Thune of South Dakota introduced S.1242 an exit plan to government ownership of private enterprise. This is the first example of sanity regarding the TARP funds to come out of Washington, DC for a long time. I have copied his press release so you can get how important this legislation is. Please call, write, email to all your Senators and Members of the House of Representatives that this bill must be passed as quickly as possible.
June 11th, 2009 – U.S. Senator John Thune today introduced the Government Ownership Exit Plan Act (S.1242), a bill that would require the federal government to end its ownership of private entities acquired under the Troubled Asset Relief Program (TARP) by July 1, 2010. The bill also prohibits the future acquisition of new or additional ownership interests in private firms through the use of TARP funds and prevents the federal government from making management decisions in private companies in which it has an ownership interest.
Senator Thune said during the introcuction: “Thanks to the federal government’s unprecedented intervention in the private sector, the president has become a de facto CEO managing large segments of our economy and Congress is acting as a 535 member board of directors,” said Thune. “Having the federal government call the shots for private industry is bad for business, bad for the economy, and bad for taxpayers. Government needs to get out of the business of owning American companies, and this legislation establishes a reasonable end date for government ownership and provides a clear exit strategy for taxpayers.”
The Government Ownership Exit Plan would require the sale of any ownership interest such as warrants, preferred stock, or common stock and apply any revenue from the sale of those assets to the reduction of the national debt. The plan would also prohibit the federal government from making or unduly influencing management decisions of private companies such as appointing senior executives and board members.
Over the past year, the federal government has acquired direct ownership in hundreds of private companies, including two car manufacturers, multiple financial institutions, and over 500 banks.
Thune further stated: “Government ownership and control of private business crowds out investment, innovation, job creation, and diminishes the entrepreneurial spirit that made America an economic superpower by instead adding hundreds of billions of dollars to our national debt. Elected officials and government bureaucrats are not qualified to run American businesses.”
Senator Thune’s legislation gives the Treasury Secretary the authority to delay divestiture for up to one year if there is a reasonable chance the assets will appreciate to the original purchase value in the near future. The Treasury is also required to report to Congress and provide detailed information on existing government ownership interests in private entities and on any loans or loan guarantees made by the Federal Reserve. The bill is currently co-sponsored by Senators John Barrasso (R-WY), Tom Coburn (R-OK), John Cornyn (R-TX), John Ensign (R-NV), James Inhofe (R-OK), Mike Johanns (R-NE), John Kyl (R-AZ), Mitch McConnell (R-KY), and David Vitter (R-LA).
Senator Thune also recently introduced the Freedom from Government Competition Act (S.1167), a bill that would require federal agencies to rely on private businesses when providing goods and services that are readily available in the private sector. The federal government has identified that roughly 850,000 federal employees perform jobs that can be classified as “commercial in nature,” which means in many instances the federal government is competing directly against main street businesses.
Today, the Socialist Triumvirate (Obama, Pelosi & Reed) unveiled Obama-Care. This would force everyone into a single provider insurance program. That is the bad news; because it will cause 70% of all Americans to into a government run health-care plan (and we know how well the government’s health-care takes care of our Veterans and elderly). Once 70% (or even close to it) go on Obama-Care the Insurance companies will stop selling health-care plans all together because it will become impossible to make a profit – not to mention the ability to pay claims.
Now hold on to your hats, there is worse news. By the most conservative estimates, it is going to force the US government to raise our taxes by $600,000,000,000.00. For those who can’t count that many zeros that number is $600 Billion. The trouble is that is the cost for one year. Guess what that is going to do to the taxes for every working person who pays taxes. You are absolutely correct, it is going to raise your tax burden. This amounts to nearly $4,500.00 in additional taxes each year for each person who pays taxes. That breaks down to an extra $375.00 per month. How many of us can afford to pay out an extra $375.00 per month? Which bill are you going to decide not to pay on month number one, which one on month number two, number three, etc., etc. How many bill collectors will let you get by with that for very long before pulling the plug? I don’t know about you; but I don’t want an ADDITIONAL $375 – $400 taken out of my pay check each month. Oh, by the way, if you are a two income family – double that amount! Let’s put it a different way; it is like being forced to make another car payment each and every month for the rest of your life! For those households with two incomes that is equal to two car payments for the rest of your life! For my wife and I (who are empty nesters) that would mean we would have to pay out an additional $800 per month. I can guarantee you we cannot afford that.
Now imagine paying for an insurance policy that makes you wait in line for ever and day, or wait six months to see a doctor when you’re sick, or better yet, a bureaucrat in Washington, DC deciding who gets treated for a deadly illness and who does not. We need to make sure to write to every Senator and every member of the House of Representatives to make sure this gets soundly defeated because the conservative estimates are using figures from the OMB which historically have been grossly understated and inaccurate instead of the Congressional Budget Office figures which have been the gold standard for cost estimates over the last 60 years and have proven more accurate than the OMB.
Remember to hold on to your hats everyone; for if this comes to pass that may be all you have left.
It has become obvious that General Electric and her lapdog (wholly owned subsidiary) CBS has no moral guidelines or conscience. They continue to let late night host and former comedian, David Letterman to continue to spew his hate over their airwaves. Last night, June 11, 2009 in his opening monologue he couched within an attempt at a joke that fell as flat as cop’s feet that Sarah Palin called him with veiled death threats.
The joke went something like this – as shown on the video clip on Fox News: All has been smoothed out and it’s clear sailing. He said that Sarah Palin called him during the day and invited to go moose hunting with her.
He might as well come out told the crowd that she wanted to shoot him. How pathetic must he become before he removed? Again, Letterman fails miserably at being funny and must slither into areas that give the wrong message and invites people to hate where it doesn’t belong. The only reason this writer can find for him to continue to do this is a feeble attempt to garner ratings. Advertisers on CBS know this I will be watching neither CBS programming nor the local news on the CBS affiliate until Letterman is gone. We need to deluge his advertisers with mail, email, phone calls until they have no other choice than to pull their ads. That, unfortunately, is the only language G.E. and CBS recognize!
On a side note: Way to go to our fine Senator from South Dakota, John Thune for introducing a Senate Bill to have the government sell off all private assets garnered through the TARP fiasco and to apply all proceeds to the National Debt by July 1, 2010. More to come on this issue anon.
In spite of what the mainstream media tries to tell you the Fascists are far left thinking and acting individuals. Here is what I have to say about this subject.
The Fascist Left of Nancy Pelosi, Barney Frank, Chris Dodd and Charles Schumer insight hate and race bate; then they delight in blaming all their radical ideas and actions on everyone who disagrees with them. On a daily basis they spew their venom at people with right thinking and now they want to release photos that every military advisor has told them will increased the chance of our boys and girls in uniform serving in war torn area of getting sent home in flag draped coffins.
The person who murdered the guard at the Holocaust Museum was no right thinking person. He was a left leaning Stalinist and a far left Hitler styled Fascist. There is nothing that can be shown that will show a fascist is anything more than a socialist who went too far, for even a radical socialist. The American Right is all about inclusion and open discussion. The Fascist Left is all about race bating and inciting hate between cultures, races and religions. If you rely on the mainstream media to think for you, I will pray for you and your family. They are nothing more than the lap-dogs of and propagandists for the Fascist Left.
The comments by the comedic apologist for the Fascist Left, David Letterman proves this hate every time he opens his mouth. He vilifies any and everyone who disagrees with him politically. I dare Letterman to say on his Top Ten List that Nancy Pelosi, Geraldine Ferraro, Diane Feinstein, or any other female Democrat actually holding an office or who ran for national office of dressing like a slut! I dare say that will never happen, but it is open season on every other female. Can you imagine the retribution that would be invoked should Sean Hannity, Dick Morris, Bill O’Reilly or a Mike Huckabee should make a similar statement about a female Democrat? It would get real ugly, real quick! I personally can’t even imagine any of these people stooping that low.
The excamation point on this whole hate mongering was so eligantly voiced by no one less than the Rev. Jeremiah Wright. He was asked today, June 11, 2009 if he has been given an audience with the Anointed One and he immediately told the reporter that “Them Jews” won’t let him. He went on later in the day and vilified the Jews, thier religion and the Zionists in Israel. For a pastor to be so vial and Fascist is to dishonor the Cloth and Jesus Christ himself. Aparently, Rev. Wright forgot that Jesus was a Jew and so were my God Parents when I was baptised in an Episcapal Church.
David Letterman’s only draw anymore is the extreme left fringe in the New York market. He ceased to be funny a long, long time ago. Recently, he proved how unfunny he is by attacking Sarah Palin and her 14 year old daughter in his top ten list. He went way beyond decency and good taste. I happened to catch the list when I was channel surfing and immediately asked myself, “Where’s the humor?”
The more I thought about it, the more disgusted I became. This morning, I sent an open email to our local CBS affiliate, KELO-TV that in essence let them know that I would not be gracing their station until Letterman is completely off the air. I reminded them that most of the shows that my wife and I like to watch will not be watched nor tuned to until Letterman has been fired; such as the local news, NCIS, Crimnal Minds, The Unit, 48 Hours, The Mentalist and several others.
Anyone who even remotely encourages the rape of a 14 year old (statutory or otherwise), calls a former candidate for VP of the U.S. a slut and then refuses to publically apolgize for his disgusting remarks has no place entertaining the general public. I don’t care what that persons political affiliation is you should never call a candidate, current or former, of being a slut. I wonder what the backlash would be if he called Hillary Clinton or Geraldine Ferraro that word? As a governor, Sarah Palin earned the right to be selected as her party’s nominee for VP. Letterman subsequently, has lost the right to be called a comedian; he crossed the line – big time!