Words of Advice:

"If Something Seems To Be Too Good To Be True, It's Best To Shoot It, Just In Case." -- Fiona Glenanne

"Flying the Airplane is More Important than Radioing Your Plight to a Person on the Ground
Who is Incapable of Understanding or Doing Anything About It." -- Unknown

“Never argue with stupid people, they will drag you down to their level
and then beat you with experience.” -- Mark Twain

"Everything is easy if somebody else is the one doing it." -- Me

"Eck!" -- George the Cat

Thursday, October 28, 2010

So, You're Mad at the Democrats Because of the Bailouts?

Who was the president that both proposed the TARP bailout, the automotive bailouts and signed the bills?

If the TARP bailout had not been passed and if some of the major banks had gone belly-up, where would be be today? If GM and Chrysler had shuttered their doors, and taken with them most of the suppliers of parts to the automotive industry, where would we be today?

A Republican president proposed those bills that were necessary to stave off financial collapse, a collapse in large part brought about by the sustained trashing of financial regulation by Republicans. The Democrats, with a small handful of Republicans, who did what was required to stop a second great depression, are now being hammered by people who, as I see it, are comprised largely of morons and racists.

Let's look back at the history of the Federal debt, shall we?

Ronald Reagan and George HW Bush more than quadrupled the Federal Debt (from just under a trillion dollars to over four trillion). George W. Bush more than doubled it again. Historically, when this country goes to war, taxes are raised to help pay for it. George W. Bush cut taxes, especially for the rich, and got involved in two wars and he used off the books tricks to try and hide the cost of the wars.

During all of that time, the "conservatives" were absolutely silent on the issue of Federal spending. But now, only now, do the conservatives come out and yell about the Federal debt. Which leads me to conclude that if a Republican was in office, there would be no Tea Party.

But because there is a Democrat in the White House and a Black one to boot, we have the Tea Party. We have the Republicans promising to do the same things that they did before and which brought our economy to the brink of ruin. The Republicans bleat, as they did before, that cutting regulation of the banks and Wall Street will promote growth, while completely ignoring that the last time that regulations were removed, it took less than a decade for those thieves to wreck the global economy.*

The Republicans say that they can reduce the Federal debt while not mentioning one thing that they would do in order to reduce it. Oh, they say that "we'll cut fraud, waste and abuse" while forgetting that they were not able to make any measurable progress across three Republican administrations in doing that.

I sincerely believe that the Republicans seek to bring back a form of 19th Century feudalism. They seek to remove all regulations on business and to free the rich from having to pay taxes. They seek to make wealth multi-generational by removing the Rules against Perpetuities and by removing the estate tax. Their ideas of how to cut the Federal debt will be entirely borne by the poor and what is now known as the middle class.

I was once a registered as a Republican. I will, for the foreseeable future, never again vote for a Republican for the Congress or the Presidency.
* Nine years passed between the passing of the Gramm-Leach Act and the near complete collapse of the American banking system.

1 comment:

OldRetiredDude said...

I am also a registered republican, I registered as such to vote for John Glenn in the GOP primary against Ronald Reagan...sadly that didn't workout so well. As a former govt. employee (ret. ATC) I saw first hand how Bush dismantled and nearly destroyed the FAA, as he did to nearly all other regulatory agencies, putting loyal GOP industry insiders in charge of the agencies that once regulated them. We were told to be business friendly, that contracting out govt. services was good for us, when acually all it did was diminish services and make alot of money for rich coorperations. I vote NO GOP now, it amazes me how many people will vote against their own best interest because of the politics of fear, spread by faux news. Keep up the good work!