love you tom price

From CNN's ticker, our own Rep. Tom Price. Bold emphasis mine.

"It is deeply disappointing that the administration has chosen to use taxpayer dollars to delay the inevitable need to fundamentally restructure these companies."

"By bailing out automakers without real reform or long-term solutions, we are only protracting uncertainty and putting billions of tax dollars at grave risk."

"It is now clear that the creation of TARP was a rueful mistake which has failed to provide urgent market stability, yet has put our country perilously in debt for the foreseeable future."

Hindsight is 20/20. Or you know, maybe you all should have listened to the American public before you voted for the bailout!

long time, no see

Yikes! been a long while...have been craaaaazy busy at work and after work. Life in general. I hope to get all caught up by the end of the year, and then I will make it my New Year's resolution to get back in the habit of posting once a day. (Or something like that).

So some quick thoughts...wow! Blagojevich! I want to believe that Obama had nothing to do with this, and I guess innocent until proven guilty right? But first, his silence on the issue was alarming to me. Then when you think about it, Obama's message of change didn't do much for his hometown. Anyway. This whole scandal disgusts me. What is happening to our country?

Give a quick clap to the Senate blocking the auto bailout. I'm sorry but I just can't bring myself to support any more of these crazy bailouts.

Then this moved me to tears. I couldn't believe this guy's response. I don't know if I could have responded with the same grace and love for the pilot who was responsible for the crash that killed his entire family. What a true testament to his deep love of our country, in giving thanks for the serviceman as one of the "great treasures of our country". And then what love this guy has for his Lord, in offering prayers for the pilot, truly giving God glory in a dark, suffering time that many would say "why me?"

And last...running has been going. I haven't been able to completely stick to schedule but I still feel pretty good about the marathon coming up. I will crawl if I have to across that finish line. I am a marathoner! Besides, I was so faithfully reminded last week that with God, nothing is impossible. I went to a Christmas concert at my church and our pastor was referring to the virgin birth of Christ. But after the talk, I smiled and thought, marathons are nothing compared to a virgin birth! So, I have faith that everything will be ok :)

Romney on Friday

I heard Mitt Romney on Hugh Hewitt last night - had some really great things to say. And what do you know...Gov. Romney will be here in Georgia Friday stumping for Sen. Chambliss. And he's making not one, but two! appearances. Too bad I will miss it! If you go, let me know, take some pics, etc etc.

Please Join
Senator Saxby Chambliss
&
Governor Mitt Romney

Atlanta Victory Rally 2008
Friday, November 21, 2008
10:30 am - 11:30 am

InterContinental Hotel
Venetian Ballroom
3315 Peachtree Rd NE
Atlanta, GA 30326

Savannah Victory Rally 2008
Friday, November 21, 2008
2:30 pm - 3:30 pm

Charles H. Morris Center
10 East Broad Street
Savannah, GA 31401

Please RSVP to RSVP-at-saxby-dot-org or call (678)589-4888
Please arrive on time.


And! I wrote our senators and such about my feelings of opposition to the bailout...got this response from Sen. Chambliss (curiously nothing from Isakson, Lewis, Bush...so Saxby gets bonus points there).

Thank you for contacting me regarding a financial rescue of the automakers. It is good to hear from you.

The automobile industry has deep seated problems that cannot only be solved by more money. Instead, a restructuring of the industry is needed. I am not in favor of using taxpayer funds to bailout the industry.

If you would like to receive timely email alerts regarding the latest congressional actions and my weekly e-newsletter, please sign up via my website at: www.chambliss.senate.gov . Please let me know whenever I may be of assistance.

just say no

Great!! article from Jonah Goldberg (love him) about saying no to Obama's experimental government. I could not agree more with his view.

Favorite parts:

"In fact, I want to be experimental too. So here's my idea: Just stop.

Stop talking about bailouts and stimuli. Stop pondering ever more drastic action. Give it a rest. Let it be.

One of the main reasons there's all of this "money on the sidelines" out there among private investors is that Wall Street doesn't know what the government will do next. Will it bail out the auto industry? The insurance companies? Which taxes will go up? How far will interest rates go down? How long will the federal government own stakes in the banks? Will more stimulus checks go out? If so, how big will the deficit get?"

...

"In a time of stability and growth, government can afford bold, persistent experimentation. But in a time of uncertainty, the last thing it needs is more uncertainty. Yet Obama's confident pragmatism, like FDR's, is a threat to confidence where it matters -- among consumers, credit markets and investors.

Yes, letting GM go into bankruptcy would be scary. But a GM bailout merely kicks GM's problems down the road while spreading the contagion about where Uncle Sam's big feet will land next. Besides, bankruptcy isn't the end of the world. It's the means by which bad companies restructure to fix themselves. Bailouts are the means by which governments subsidize bad companies."

links of the day

In response to the impending auto industry bailout, here is a great article from James Quinn, from the Wharton School. It's chock full of charts, graphs, numbers, history etc. and while I think it puts too much blame on Bush and not enough on Carter & Clinton, I particularly like his conclusion...

"My biggest concern is that our politician leaders and their cronies running our government will continue to try and reverse the normal capitalistic course of recession and expansion. Companies need to fail, housing needs to find its bottom based on supply, demand and price. Those who gambled must be allowed to lose and suffer the consequences. If the government attempts to shift the losses to those who lived lifestyles of thrift, an angry uprising will ensue. Government intervention in this natural process could lead to a decade long depression."

That's my biggest concern too. Why is it ok for me to budget, live responsibly, work hard, only to see my money go to someone else who hasn't done any of those things? How long until we say enough is enough? If we're going to bail out each industry, when am I going to get my student loan bailout? Hm?

And in honor of Veterans Day yesterday, here is a cool link to say thank you to those who are still serving our great nation. The goal is to record over 1 million unique thank yous, so that 1 message can appear online every 30 seconds for 1 year. Our servicemen & women can log on at any time from any where and see a new thank you every 30 seconds :) A really big project - I think it's awesome!

conversations

First, from CNN, commentary on 20 ways Obama agrees with Bush. Who is "more of the same" now?

Then...I've been having lots of political conversations lately. I haven't done much of the talking, just more of the listening. I love listening to people, especially in such a tumultuous time. What are people thinking? How do people really feel apart from what the mainstream media is telling us?

At a Young Republicans social, I heard a lot from an "angry conservative" about healthcare. He brought up a good question. Why does your employer pick your healthcare for you? Why is that a good idea?

Over the weekend, I spent some time down South, where McCain-Palin signs abounded and I ran 13 miles around beautiful pecan orchards and farms (more on that later). But I had the privilege of meeting a real Southern boy who is also a big Obama supporter. Thankfully we were able to have a civil discussion over a wide range of topics. What I thought was cool was our total agreement against the bailout. Isn't that crazy? From such different viewpoints of the world, but we both oppose the bailouts. And we also agreed that McCain would do what needs to be done, if Obama were to lose. I was just amazed how similar we were, for being so different.

Then coming home yesterday, I had a good talk with my aunt. She had lots of questions...why isn't McCain making a bigger deal about ACORN? When is McCain going to turn up the heat? What is he waiting for? I didn't have any answers for her. I have many of those same questions. With the homestretch in sight, I feel like McCain's just not going in the right direction.

Anyone else want to share?

have we reached the bottom yet?

I saw a trader today in a breaking news "special report" as the market opened, and he said he thinks we are reaching the bottom. Apparently a violent downturn will clear out all the sellers and make room for the buyers. Makes sense. Are we really at the bottom? I hope so. I watched my tv intently as the market fell several hundred points and dropped into the 7000s this AM. yikes!

Bailout??? Talk to me about the bailout. What good has it done besides freeing up credit? Bush is going to speak soon. What is he going to say? "Don't freak out, don't sell!" Like that is going to help. What a mess. I've started looking at one-way flights outta here...also at sailboats.

i'm vomiting now

This is what the bailouts get us...AIG executives going off on a retreat at a luxurious hotel a week after the government bailed them out. Gosh, I wish I could do that on my tax money.

darn right it's the bailout

I'm going to start talking like Sarah Palin now. haha.

Anyway, sad day. The House passed the bailout bill. Can you believe it started as 3 pages...went to the house and became a couple hundred pages...and ended up 400 pages long? You know it can't be good when a bill gets that long. And you know it can't be good when it's virtually the same bill the House shot down...just with more "sugar" on top.

Well I hope this thaws the credit freeze and helps our economy. But God help us if this is the moment our country irrevocably turns to socialism as the answer to our problems.

links of the day

Links of the day...

From Fox/via Ryan...if you took a US citizenship test today, would you pass it? It was recently updated, and you can check out the 100 questions here. Just thought you might want to brush up on your United States 101 while Biden & Palin brush up on their foreign policy :)

And here are some more links to help you communicate with your elected officials:

A one-click site to tell your leaders to vote no to the bailout - Vote No Bailout!

If you want to talk to your officials on any subject, check out the easy process on Congress's website. Just put your zipcode in and it will list all your officials, from state to federal to president. You can select which ones you want to write to (all of them if you want!), and fill out the form. Click send and you're done! Easy peasy.


And one last link for today..."As in a Bomb Going Off" by King Banaian (via Hot Air). This a pro-bailout article that conservatives should consider. When I say pro-bailout, I don't mean the bailout that is being voted on tonight. The government can (and should, since a lot of this mess is caused by previous bad govt decisions) take actions to help the markets, but do so without meddling so much with them & our money.

I like this paragraph:
"Free markets do not mean always private markets. Free markets mean markets with an absence of coercion. It is possible for government to step forward for a missing market and not be coercive. A bailout that did not consume taxpayer dollars would be one example. Forcing banks to alter their lending standards would be coercive and unfree. "

letter: vote down the bailout, senate edition

Here is a short & sweet letter, via Ryan, to email to your Senators. Look your Senators up here. Let them know how you feel!

I urge you not to vote for the proposed $700 bailout hitting the Senate floor today. Senator, there is no reason that the US taxpayers (even with tax cuts) should have to bail out any private business. Though the DOW dropped over 700 points in one day, it had its third largest gain in history the next day.

Please do not use legislation to attempt to retard the normal economic wave of recession and expansion. The economy goes into recession so that we can appreciate the great promise of expansion to come.

Please do not consider passing any bills with legislation in them to assist ignorant homeowners and lending companies who were either out to live above their means or make a quick buck.

Senator, I urge you to keep the constitution in mind when you vote today.

yeah! bailout voted down

Check it out! Bailout voted down. Oh my gosh! Could it be that lawmakers are finally listening to their constituents and standing up for them?

kinda funny

So this whole messy bailout thing...you have to admit there is a little something funny about it. Because fiscal conservatives & Republicans are saying no, while Democrats are siding with Bush's plan. Haha!!! I'm sorry...what is this argument about "more of the same"? Democrats siding with Bush. Oh man. Sidesplitter. I seriously laughed in my car for 5 minutes this AM.

I also heard this morning that thanks to Lindsey Graham (who actually read the bill, I applaud him), we now know that some of the repayment turned from the bailout will go to funding corrupt, fraudulent housing programs like ACORN. Whooppee!!! First, my tax dollars going to a mess that I had nothing to do with and is already crashing my retirement fund. And now, any repayment from that will go to fraudulent housing programs that benefit me and this nation in NO way.

I'm thinking about moving soon.

letter: vote down the bailout

Via Ryan, here is a letter he wrote to Bush, Paulson, and Georgia senators:

I oppose the proposed bailout plan because I do not believe that Government intervention into the private market is in line with free market capitalism. While I realize that some companies are extremely important to the backbone of this economy, and the world economy as a whole, I do not believe it is within the realm of democracy for the Government to decide to do this.

The Government is setting a horrible example for the future to any major business, whether it be an airline, car company, insurance provider or a banking institution that they need not be afraid of failure. This is the ultimate example of companies making horrible decisions just to turn a little more profit, and failing in the process. That's what free market capitalism is all about though. Millions of businesses come and go through the cycle in the marketplace, and those who are outstanding and conduct their operations properly are the ones who experience lasting power.

This problem, however, stems to a lot more than improper lending and practices. The US Government's position on illegal immigration is also partially to blame. With a tighter control on immigration, the United States would be able to put more low level jobs that are currently occupied by illegal immigrants ( non-tax paying illegal immigrants none the less) into the hands of Americans. With proper work in their lives, perhaps people would learn a little more work ethic that would transfer over to their financial lifestyle.

While lenders are horribly to blame for the housing crisis, the United States citizenry also takes some of that blame on them. If people would learn to live within their means instead of going for the biggest and the best, we would not have such a fallout from the sub-prime mortgages issue. Again, people with jobs learn to live within their means better, hearkening back to my argument on illegal immigration.

Furthermore, our ridiculous support of foreign oil (from OPEC) is playing to the downfall of the economy. While I realize that trade is an important part of every economy, the fact that we are shipping so much of our money outside our borders has contributed to the weakening of the dollar and the downfall of consumer confidence in spending.

It is hard to believe that a Government with a national debt of nearly $10 Trillion has the ability to post a $700 billion bailout for failing (free market) companies. While I agree with the choice to help Fannie May and Freddie Mac (as they already have ties to the Gov't) I don't think this massive sweeping bailout is a good idea.

I hope this letter has some effect on your thoughts on the matter, and I ask you to please vote down the bailout plan.

Sincerely,

Ryan Duckworth

anxious morning

So today hearings are going on about the $700 billion bailout. Eesh. I really, really hope it doesn't go through.

I thought this was some good commentary from Ron Paul. I was starting to think he was going crazy when he endorsed all the third party candidates (how can you endorse 4 different candidates with such different views?), but this article is good. Stop government intervention and let the free markets work! That's the gist of it, if you don't want to read.

questions

So I don't know very much beyond the basics of economics. But when the stock market loses 300 points in one day, and the government bails out companies left and right while leaving others out in the cold, I have to wonder...what should I do?

My honest first impressions: not happy with the government right now. It's like they are rewarding failure. Have we forgotten how free markets work? Some businesses will fail, others will succeed. That's just how it goes. Is it really necessary for the government to step in and buy these companies with my (and your) hard-earned money? Or have we been fooled into thinking the U.S. is capitalist?

If anyone has any answers, I would love to hear them. Or advice. Since my retirement funds have lost significant amounts of money this year, and it's not looking like that trend is going to stop. I wonder if I should stop contributing and save that money for now. Or should I have the hope that things will get better, and 20 years from now, that money will have grown? I don't want to panic. I just want some real answers!