Disclosure: There are those bloggers who write with eloquence and a depth of factual foundation on economic topics. I am not going to be one of them today. I’m feelin’ it. It’s so hard. I’ve got those hardly workin’, overtaxed, DepressionDemocratic Meltdown Economy Blues….
The DepressionDemocratic Meltdown Economy we are “enjoying” in the United States is not a naturally occuring, cyclical event as some economics have said. Here in Michigan, our stagnant economy turned into a one-state recession thanks to the leadership of our Governor and a DepressionDemocrat Party-led monster business tax increase. Now, our national DepressionDemocrat Party leaders, including the inestimable Nancy Pelosi, Chris Dodd, and Barney Frank, are about to manage to turn our one-state recession into a national depression.
It is a feat of political and economic ineptitude worthy of awe, if it wasn’t that I am too busy watching the value of my IRA spiral downward!
Ahhh… Barney Frank and Chris Dodd. Architects, along with President Clinton, of the 1995 changes to Freddie Mac and Fannie Mae that disconnected the brakes from the mortgage loan market. This action alone is one of the primary root causes of the financial meltdown. Thank you, Dr. FrankenDodd!
Along with our fearless Republican Senate leader Mitch McConnell, FrankenDodd has most recently led the charge towards creating the largest blank check and biggest transfer of political power to a single unelected bureaucrat in American history. As a congressman who enjoys the fiefdom you’ve created, how do you champion a bill that hands the keys to the cashbox to the Treasury Secretary with a note saying, “just don’t spend it all in one place!”
The worst part is that this same FrankenDodd is part of the crew that is presently trashing the American auto industry based upon outdated information about a disastrous union contract that has long since been replaced by a massive union giveback to the companies. Only a truly un-self-aware buffoon could agree to buy up to $700 Billion in worthless debt securities without conditions or oversight one week, and lecture American manufacturers the next about how the federal government cannot possibly provide a temporary bridge loan totaling less than 4% of the financial giveaway until the companies come back with a turnaround plan!
A plan?!! The Congressional DepressionDemocrats wouldn’t know a plan for making wise use of public money if it jumped out of the Tidal Basin and bit them on the tush.
…at least I can still sing the blues tax-free, right?....