The Dodd Debacle Continues

Another day that the Dodd debacle continues. Does Chris Dodd actually think we believe anything he says anymore? Does he really have any credibility anymore to serve as a Senator? I had to laugh at his vain attempt to spin his wife's qualifications in his article in the Sunday 5/10/09 Hartford Courant. Does he believe that the people of Connecticut buy into his chronological "facts" that his wife is qualified for all of her high paying board jobs? Does he think that his wife was not able to to use her political influence to obtain the jobs? Of course she was. She has little if any qualifications other than being Chris Dodds wife and as such was entitled to the $500,000 worth of income she supposedly works for.
In a blinded sense Chris Dodd and his wife live in a fantasy world, where laws and rules do not apply to them nor does any ethics or credibility apply to them either. They have the abilities through their power to rape and pillage taxpayers under the guise of representing their constituents. They are most importantly above the law. I am confident that the intelligent voting public of Connecticut will turn out in record numbers in November 2010 and vote this disgrace of a Senator out of office. It can not happen soon enough.

The Gaffey Mess Continues

The Gaffey mess continues. Who cares about the fine. Senator Gaffey from Meriden had a hiccup, made a mistake, whatever. It is old news. It really is not important for the Senator from Meriden to have ethics or be ethical in any of his dealings. What oversight? Are you as a Senator that stupid about the laws your campaign should be abiding by? And why do you still have your job Senator? If you were in private industry you would have been fired for your actions plain and simple. Without fanfare, without an apology. Yet taxpayers in Meriden and throughout Connecticut must be subjected to your disregard of law and lack of ethical behavior whether it is this situation or all of your other messes in past years. Mr. Gaffey you could have made the ethical choice and resign from your position. But no, your politics is driven by your corruption and as such you subject your constituents to it.
Enough is enough, I truly hope voters vote this Senator out of office next year.

The Economic Reality of Debt

There is the economic reality of debt. Our Federal government does a good job of hiding this dirty little secret. With this new administration and its stimulus package we are gearing up for an incredible amount of national debt for the future. At this time we as a government owe about $11.3 trillion dollars in our national debt. It is a staggering figure. It is a figure that will burden our economy for decades. And it is not necessary. If we examine the rushed earmark filled stimulus package we can see massive wastes of taxpayers monies which will ultimately lead to be more national debt. Realistically the stimulus package has done little at this time to create economic growth or development. Nor will it do any for the future. Personal economic freedom and the functioning of the free economic system should be the goals of any democracy. Again the dirty little secret of this socialist plan by the Obama administration is simple enough. Wealth redistribution, central planning and higher taxes. All failures if you study economic history. The path is being paved for a revolution in the voting booths in 2010 and 2012. Then real change will take place.

Jack Kemp

Rest in peace, Jack Kemp. Jack Kemp was a great believer in freedom. He believed that the supply side needed to stimulate the economy. He believed that tax cuts would continue to stimulate the economy while tax increases took the growth out of our economy. His Empower America theme and organization helped to bring to debate the concept of personal empowerment helps create economic freedom. He was a strong Representative from upstate New York for nine terms, a Housing Secretary under President George H.W. Bush, a former candidate for President and a Vice Presidential nominee in 1996. He also was a great football player for the Chargers and the Bills. America's Conservative movement has lost a great friend today with the passing of Jack Kemp. His words, actions and thoughts will be greatly missed.

101 Long Economic Days

It has been 101 long economic days. In the past 101 days of this new Obama administration we have seen economic free market systems being torn apart and ill advised governmental spending being celebrated. It has been 101 long economic days when we see an increase in the national debt of over $6.5 trillion dollars with absolutely no long term plan to start paying this debt. A debt which will grow from its current $11.2 trillion level to upwards of $20 trillion by the time this administration leaves office in 2012. Nothing is left to any economic logic nor understanding of economic consequence for these actions. The long term implications of our excessive Federal spending is simplistic, bankruptcy. The Democratically controlled Congress is only concerned with their own self serving interest which will drain the economic vibrancy of our country to the point of no return. Our current national debt will be a cancer that can never be cured for our economy. 2010 can not happen soon enough.

The TARP Scheme

TARP is a scheme. It is a way to steal money legally from the taxpayers who have put up $700 billion dollars to the Troubled Asset Relief Program. It is a way for Barney Franks, who help to create the financial meltdown in our economy to write a provision in the bill for his beloved OneUnited bank. It is a way for confusion to reign for the banks who received the monies and now for New York Attorney General Cuomo to gain political leverage from it. TARP was supposedly set up to buy bad or troubled assets from the banks which were having financial problems in order to help them recover. It has turned into a political free for all with the government wanting to buy shares of stocks in the banks, and to also give financial aid to GM and Chrysler. And the list of earmarks on this program grows day by day.
TARP is a mess and continues to be a mess. It is now a colossal waste of taxpayers monies with absolutely no accountability to the program itself. I am truly amazed that in an economy with many brilliant economic minds we rely upon the economically illiterate to run this program and to turn it into a political gain. What a waste of taxpayers monies once again.

The No Reality Connecticut State Legislature

We have working for us a group of legislators who do not believe in economic reality. They live in a fantasy world, a world of nobility and pomp, a world where rules do not apply to them and most importantly a world which is governed by special interest lobbyists. Two proposed laws truly astound me this session, the one to eliminate plastic shopping bags and the repeal of tax exemptions on heating fuels, prescription drugs and some foods along with many services. The bag ban is ridiculous. Consumers actually use plastic bags to carry out their purchases from a store. I know this sounds amazing to the legislature who obviously does not shop in stores nor buy any groceries. It will hurt mainly older folks who wish to carry smaller bags from the store so they are easier to handle. I know personally my 88 year old Mother prefers smaller bags to carry from the store. Also I am not sold on all of the supposed environmental benefit to banning them.
In an effort to cover up the years of excessive Democratic spending, many of these same Democratic legislators wish to tax virtually everything and many services. Why? To continue their wasteful spending? To continue to hire political hacks in excessively compensated positions (like Chris Donovan's mouthpiece)? What a continual waste of taxpayers monies. And the net result will be more people moving out of our state. We really have a non economic reality state legislature. We really have no representation. Let the tea parties continue...

Economics In The New World

I need to forget everything that I have learned studying economics since I was a Freshman in high school. Yes 36 years of teaching, studying, reading and writing about the subject needs to be emptied from my brain. For economics has been reinvented by the Obama Administration in less than three months. 36 years versus 3 months. Well of course I am going to buy into the 3 month plan. Highlights of the 3month plan include but are not limited to doubling the national debt in one year, greater and more costly borrowing to finance the debt, tax evasion by cabinet members, in particular a leader of the actual treasury agency who does not need to pay taxes, stimulus which equal pork dripping overpriced work projects which do little stimulus if at all, and most importantly excessively high spending to go along with excessively high taxes. We are looking at a bankrupted future due to the new economic concept that government not the private sector trickles down money not the private sector. I guess that makes sense for someone who has never worked in the private sector yet earns the bulk of his income for 2007 and 2008 from it (book sales last time I checked were private sector although I could be wrong today).
The tea parties will continue and will gain even more strength much to the chagrin of the administration and the media. Economics 2009 leaves a great deal to be desired.

The New Revolution

The economic seeds of discontent have been sown and the result is a new movement to take back our government at all levels, federal, state and local. The April 15th Tea Parties represent our nation's future. Common citizens of all walks of life, Republican and Democrat, Independent and non political are fed up with economic policies which will ultimately lead our country to ruin. We are fed with a $11 trillion dollar national debt and a debt which is owned by foreign countries. We are fed up with nationalization and socialization of our economy. We are fed up with taxation without representation. We are fed up with special interest groups dictating what legislation passes and what we as taxpayers can and can not have. We are fed up with government trying to control every aspect of our lives with the ultimate result being a continuing decline in our quality of life. Liberals and socialists in our government are fearful of the Tea Party movement for it represents the new dawning of politics. Politicians are self serving, non ethical and ruthless in their supposed representation of the common citizens of our economy. The time has come for real change, the Tea Party movement will now go forward and facilitate it.

Don't Forget The Tea Parties on April 15!

Don't forget the tea party protests for April 15th:
Here is the info for all from the The Federation of Connecticut Taxpayer Organizations site

THE FOLLOWING APRIL 15 PARTIES ARE PLANNED….

· The Norwich tea party will be held at 3 p.m. Wednesday at Howard T. Brown Memorial Park on Chelsea Harbor Road , roadrallyct@yahoo.com

· Westerly/Pawcatuck tea party will be at noon Wednesday in Westerly at the Rhode Island Department of Environmental Management's parking lot at 99 Main St .

· Hartford's tea party is at noon Wednesday on the north steps of the Capitol Building, 210 Capitol Ave., hartfordteaparty@gmail.com

· New Haven's tea party is 11 a.m. Wednesday on Long Wharf Drive on the water, with parking available at Ikea, newhaventeaparty@gmail.com

· Greenwich Tax Day Tea Party is from 3 to 5 PM at Town Hall, Field Point Road , Contact Matt Lechner , mattlechner@optonline.net,

Please attend and let us all take back our state and country from taxation without representation. Enough is enough.

Pirates = Terrorists, Hostages = Weak Leadership

Take your pick, a pirate is the same as a terrorist. Money is involved in both examples, the Somalian pirates enjoy their brand of shake down terrorism by extorting ransom monies from their captors. How much for a United States ship captain? One million, maybe two million? What is the price for human life, especially for someone from our country? And why the diplomacy involved? These pirates are the same as terrorists and should be treated as such. Our military should be eliminating these terrorist pirates from the seas so that law abiding ships can pass through the waters. Obviously the Somalian terrorist pirates are accepted and enjoyed by the rogue Somalian government. And to this current administration it is a distraction to the countless and endless pursuit of economic stimulus which is just not happening with the recent pork bill that passed. Distractions do not occur to the Obama Administration. I guess this situation is not real? Why haven't we used our military power to free a United States citizen? What happened? We have lost our ability to lead in scant few months? This reminds me of the Iranian hostage situation when President Carter did not have the guts to resolve it militarily. History does repeat itself with a weak American leader. We can only pray for the safety and lives of the thousands of new hostages which will be taken over the next four years.

Chris Dodd Won't Just Go Away

No he will not go away. The Chris Dodd, I did nothing wrong campaign for re-election for Senator is in full swing. Dodd, realizing that he lives in Connecticut again rather than Iowa is now showing Connecticut residents all the great things he has done for the state over the past 34 years of imperial power. He was in Middletown, a few days ago, buying some votes to anyone who will listen to him. Several letters to the editor have been published stating that he really did not do anything wrong but get some political payback, therefore one must assume that he is actually entitled to it being a United States Senator.
To myself and many other voters, the facts are clear. Dodd has corrupted his office and help cause one of the greatest financial meltdowns in our nation's history. He can not run from the responsibility of it. Affordable housing and the covering up of Fannie Mae and Freddie Mac are on his watch and leadership. He has misused and lied to the people he represented and will lose his office in 2010. No amount of campaigning for him can undo the mess he has created. Dodd will lose in 2010 and Connecticut will finally have a new Senator who is not corrupt and unethical like our current one.

North Korea's Nuke Launch-What Response?

So what was America's response? Run to the United Nations and hear what, see what and explain what? I think the bigger question that Americans need to ask from this administration is why was this missile allowed to take off in the first place? Why was it not intercepted by our intelligence agencies? We now have a rogue nation which is fast becoming a major threat to our country and all our President is concerned with is granting concessions to Russia with regards to the missile shield we should be building in Poland. Why has this become American policy is just three short months, bowing to your enemies and alienating your friends? Where will this get our country? Back to a new cold war? For what reason, because of the lack of experience this administration has in all aspects of foreign policy? There are many questions that need to be answered quickly by our country. The campaign is long over, maybe this administration needs to start showing some leadership against the new threats it has help to create on a global scale.

Another Bitter Democratic Budget-Tax and Spend

I wonder why Connecticut Democrats hate taxpayers in our state? With their laughable current budget proposal they truly show their hatred of those who work for a living and own businesses here in Connecticut. How is their budget actually a budget? To me as an economist, it is just a massive increase in spending coupled with a massive increase in taxes. It is difficult to view in any other manner. Yes there are magical and mythical types of savings based upon some sort of projected cuts and increases in revenue although I personally can not figure them out. But the focus of the Democrats budget is simple, increase taxes on virtually everything especially the income tax and continue to spend at higher levels. This you can figure out even if you are not an economist. Thus this budget is the same that we have seen when the Democrats control the legislature, no programs can be cut, no spending can be decreased and most importantly taxes must increase. With these increases we will see more of the same in Connecticut, more businesses moving out and more young people moving out of the state. I know the Democrats are proud of the current mess they have created. 2010 can't happen soon enough.

What Is The Point In Running General Motors?

What is the economic point in running General Motors? Or Chrysler? I did not know President Obama is versed in economic issues nor had a degree in Business Administration? I also do not know what 60 or 90 or 120 more days will mean for General Motors if there are not major pension/benefit concessions by the UAW. Oh I forgot whoever is actually running GM must now do so without any change in the current debacle of a labor agreement that is has with the UAW. I forgot whoever is actually running GM can strip its preferred stock and bond holders of what is rightfully and legally theirs and not worry about any type of labor concessions. Maybe it is time for raises for UAW members for their non productivity and years of retirement.
The sad part about the whole situation is that GM could have gone into restructuring over a year ago (bankruptcy) and they would be well on the road to recovery with realistic labor agreements and a smaller line of vehicles (and actually make a profit on the cars/trucks they sold). In economic terms this fiasco for GM is only the beginning for poor governmental decision making intervention in what should and needs to be a free market capitalistic economy, where supply and demand rule and the invisible hand weeds out poorly managed and unprofitable companies. Is anyone in Congress listening? Or are they too busy running their feudalistic serfdom now called America?

The Problems of Chris Dodd Never Cease

Do you think Chris Dodd could survive one day working for a private company? With all of the baggage that he has at this time, why would anyone want to hire him? Why do taxpayers have to still put up with him? Why does he even consider running for re election with all of the twists, turns, lies and deceptions he has forced upon Connecticut residents for the past six years. What can he offer our state anymore since he has turned the position of United States Senator into his own personal play land of payoffs and patronage? How can anyone in the Connecticut Democratic party actually endorse this type of corruption? And why has our political system in Connecticut succumbed to this lack of ethics?
The new allegations against Dodd and his forgetfulness of who from AIG actually gave to his campaign, his wife's forgetfulness of which boards she sits on and get paid from and last but not least his sweetheart mortgage deal should not be forgotten in 2010. Dodd deserves to lose and will in 2010. It is just too bad that taxpayers must pay for his never ending pension he will receive from us as he retires.

Sunday's Random Thoughts

Here are some of my Sunday's random thoughts...
The tea party movement is here to stay as taxpayers from both sides of the aisle express extreme frustration with both parties tax and spend nonsense and excessive long term debt that they our bestowing upon our economy. The economic stimulus package which was not read by most who voted for it is a childish economic exercise of tax and spend. It has great long term economic implications which will ultimately lead to economic stagflation and long term recession. It was foolish and shows the lack of the economic knowledge this administration has.
Chris Dodd will lose in 2010 no matter who he hires as a campaign manager. No campaign manager can undo the years of political ineptness that this man has bestowed upon Connecticut. He is a liar, he is corrupt and he will be voted out of office in 2010. He does have a massive uphill battle and will lose.
Why doesn't the state try to investigate all of its wasteful spending on bonuses for the Connecticut Student Loan Foundation rather than AIG? Oh I get it, the CSLF is exempt of any wrong doing because of its political ties. The two tier system is alive and well in Hartford-just keep taxing people and businesses out of state - that should solve all of our problems. Naturally anything our state government does is correct and anything the private sector does is evil and corrupt.

The New Democrat Tax On Shopping Bags

House Bill 5215. This is a beauty developed by Connecticut's tax and spend Democrats. If you forget to bring the "green" bags that you were forced to buy at your grocery stores, you will now charged a tax of five cents for each paper or plastic bag that you use. These monies will supposedly go to state Department of Environmental Protection. The state is projecting stealing $10 million dollars from state taxpayers when they shop. I truly do not believe that one cent will be going to this department but will be lumped as usual into the state's slush fund better known as the General Fund. What gives the right of the state to do this? What about elderly shoppers who may not be able to carry the "green" bags? What a rip off as usual by the tax and spend Democrats in Hartford.
Thus this assembly promotes more of the same, higher spending and higher taxes using any excuse they can possibly muster on any possible aspect of our lives. I urge all taxpayers to voice their opposition to House Bill 5215. There is no need for this theft to occur.

Why Not Tax Lobbyists At 90%?

Why not tax lobbyists at 90%? Just a thought. Since the AIG bonuses are a legal contractual agreement, why doesn't the state and federal governments look into taxing paid lobbyists at a 90% level? This would be a great source of revenue for our bankrupt state and federal governments. Maybe Governor Rell could subpoena all the registered state lobbyists and grill them as to why they are making so much money and how they are influencing the excessive costs of both our federal and state government. Maybe there could be full page articles in all of Connecticut's papers disclosing how much money they actually contribute to politicians on both sides of the aisle and the corresponding legislation that was enacted because of these same contributions. The same could be said for federal lobbyists and their contributions to our federal debt through the excessive amount of legislation they push through for taxpayers. To me it would be logical that if you want AIG employees to testify you should not leave out lobbyists. After all look at the productivity of let say a Tom Daschle and his lobbying efforts (not to mention his ability not to pay taxes). Let's pick on lobbyists who with their political friends who have help to create our economic debacle.

The Crushing Federal Debt

The crushing federal debt. It just keeps coming and coming. We as a nation now have a $11 trillion national debt. In other words our government has spent $11 trillion dollars more than it has taken in. $11 trillion dollars is an incredible number. The great question in Washington which finally some politicians are waking up to is - how is this going to be paid back and by whom? There is not a great deal of economic logic in any of the stimulus or bailout packages which were passed. These packages have all added to the national debt and done little if anything to actually create economic stimulus. Again who is going to pay for this debt in the future? And at what cost? What is the actual value of our dollar relative to this debt?
In my economic opinion these bills must be stopped or this current administration will truly bankrupt our economy. Enough is enough of this economic debacle they have created. Let the free market system clean itself rather than be further soiled by economically illiterate politicians.