Archive for March 2009
Other than giving my impressions, I haven’t gotten into the meat of Obama’s less than impressive press conference. You know it was bad when even the San Fran Chronicle politics blog calls His Oneness a lecturer.
I could write for a week on the lies he trotted out, but here are some columns that highlight some of the most outrageous things in his proposed budget.
Start with the impression he gave that the Bush deficits went continually up, when they were actually declining.
Then to the charities which His Oneness assured us would not see a dime less.
But people may be starting to catch on.
Citigroup and Bank of America are reportedly using bailout money to purchase mortgage-backed securities in the secondary market, while FHA lending has exploded, and banks are starting to wash their hands of taking over the foreclosures.
Does anyone imagine that FHA has sufficient reserves in its accounts to cover these looming losses? Does anybody doubt that taxpayers will shortly be on the hook for them as well?
Kathy Shaidle refers to Canada, but it’s fast becoming accurate for the USA.
A government ruling through words….
Yesterday the White House pushed out the chairman of General Motors and told Chrysler to form a partnership with Italian automaker Fiat within 30 days as a condition for receiving another round of government aid.
With the C.E.O. gone, GM is now run by the Chief Operating Officer. What reporters need to ask at the daily briefing from the White House is what the COO agreed to do that the CEO would not. That ought to give Press Secretary Robert Gibbs a whale of a deer-in-the-headlights moment, but I won’t hold my breath that any reporter will oblige me with what should be the most obvious question of all.
There is no mention, of course, of the new mileage standards the government just mandated. Thank God I bought my big diesel truck before all this nonsense started. Pretty soon we’ll all have vehicles that will tote about 2 bags of groceries, and nobody in cities will be able to afford anything larger than a bicycle, which is what the liberal urban planners consider Nirvana.
Let’s see, the financial sector is already run by White House dictates, now the auto industry. Who’s next? And there will be a next, even if Congress manages to resist Geithner’s call for more regulatory power. His Oneness isn’t concerned, since they’ve taken the power without its being granted — so what if Congress doesn’t catch up.