American Elephants


The Big Omnibus Economic Relief Bill by The Elephant's Child
December 23, 2020, 8:19 pm
Filed under: Politics | Tags: , ,

Lockdowns, Covid-19, closed businesses, riots, incompetent governors and mayors, protests, looting, just another day like all days in the wake of the Corona virus. A demand arises that Congress appropriate some money to jumpstart the economy once again, so, naturally they do their usual Congressional thing. They appropriate $600 dollars for everybody as an economic stimulus, and add on all the splendid Democrat ideas they’ve been drumming up in the wake of TDS. So it adds up to something just over 2 Trillion dollars added to the federal debt.

Any time someone says “federal debt” do remember that the federal government has no money of its own. Every last cent comes out of your pocket or bank account. So, of course, they add all their greedy wishes and hopes and political payoffs in. (I heard, 2nd-hand, from something on Twitter), that Speaker Pelosi got her plane back. As Speaker, she got her own military plane under Obama, and pilot to fly her around so she didn’t have to spend time in airport lines and associate with the ordinary riff-raff. Some sensible entity in government thought that was ridiculous and removed the privilege, and she has been chafing about it ever since. It may not even be true, but that is just the sort of thing that Democrats tuck into big omnibus bills because with the cover of $600 for everybody, the sky’s the limit. That $600 will probably not even begin to cover your eventual cost.

That’s how Congress works. You might keep that in mind next time you vote. it’s a pretty cushy job.



Try to Remember When It Gets to November: by The Elephant's Child

It was three years ago that Obama signed the much celebrated $787 billion Stimulus Bill into law.  Friday was the anniversary.  So after three years, how do the results stack up? (From Investors Business Daily)

Obama claimed it would “create or save” up to 3.5 million jobs, and unleash a “new wave of innovation, activity and construction across America.” The stimulus would, he promised “ignite spending by businesses and consumers” and bring “real and lasting change for generations to come.”

Unemployment rate February 2009: 8.3%. February 2012: 8.3% unchanged.

Long term unemployed: the number of workers unable to find a job in 27 months or more has shot up by 83%. They number now 5.5 million.

Size of the civilian labor force: Declined by 126,000.  In past recoveries, the labor force climbed by an average of 3 million over the same time period.

Household income is about 7% below where it was in February 2009.

National debt: Up by 41%  or $4.5 trillion since February 2009. The latest Treasury figures put the national debt at $15.4 trillion, larger than the entire U.S. economy.

The deficit for fiscal year 2009 was $1.4 trillion, the proposed deficit for 2012 is $1.3 trillion for the fourth year of trillion dollar deficits.

Over the past 3 years from Q1 2009 to Q4 2011, the Gross Domestic Product (GDP) has climbed only 6%, according to the Bureau of Economic analysis.

The original estimate for the Stimulus was $787 billion but the CBO says it has grown to $825 billion.  The official name was HR1: American Recovery and Reinvestment Act of 2009.

Best measure: Obama’s latest budget request calls for another round of stimulus.  He wants $350 billion over the next four years for “short-term measures for jobs growth”

 



Cool Website of the Day! by The Elephant's Child
November 8, 2009, 4:04 pm
Filed under: Cool Site of the Day, Economy, Taxes | Tags: , ,

Prowl around enough on the internet and you find all sorts of useful websites. Here is the National Debt Clock, but it is far more than that:  Call it

“The Control Panel for the Ship of State.”

We live in perilous times, and we need citizen activists who are willing to get informed and make themselves heard.

If you want to speak to your representatives in Congress, you need  facts with which to confront congressmen who are often poorly informed, and do not read the bills on which they vote.

Besides, it’s kind of fun.  Just don’t go there when you’re worried and can not sleep.



Enough is Enough. Americans are Standing Up and Saying So. by The Elephant's Child

According to Rasmussen Reports57 percent of Americans would vote to replace the entire Congress and start over. Do you suppose that members of Congress are aware of that sentiment, and if they are — that they care?

At present, according to their public statements, they don’t much care.  Democrat pollsters are suggesting that Democrats could lose as many as 100 seats in Congress next year.  It is not too hard to understand why.

Americans prize their liberty.  We have never warmed to government control of our lives.  For years Americans pushed West, looking for more open space, more freedom, more opportunity. We are, above all things, a freedom-loving people.  Those toiling in the halls of government forget that at their peril.

We learn our economics by performing the mundane tasks of everyday life,  like paying a mortgage, sticking to a budget, paying the bills and trying to save a little for the future; and we don’t like it when the government seems to forget all the rules and plunges the nation into unfathomable amounts of debt.

Do not let the posturing and pronouncements of politicians sway you from the defense of your liberty.   And remind them whenever you have a chance, that we are a free and independent people and intend to stay that way.



Irresponsible! by The Elephant's Child
May 15, 2009, 11:12 pm
Filed under: Capitalism, Economy, Law | Tags: , ,

All those zeroes are hard to understand.  Millions and billions and trillions all sort of melt together. Can you write $1.8 trillion with the correct number of zeroes?  That is the projection for the 2009 budget deficit. Polls suggest that the public tolerates these large deficits because they believe them to be temporary.  Dream on.

Here’s another video that attempts to put the spending in comprehensible terms.




%d bloggers like this: