From Judd Gregg

Author: Dan Chakonas  |  Category: Economy, Government

Here is Senator Judd Gregg’s take. (from National Review Online-The Corner)

Gregg: Welcome to a New America   [Robert Costa]

American government changed last night. “We are now functioning under a parliamentary form of government,” says Sen. Judd Gregg (R., N.H.) in a conversation with NRO. “An ideological supermajority in Congress, along with a government run by community organizers, has taken over.”

“They’ve taken over the student-loan program, they’ve taken over the automobile system, and now they’re taking over the health-care system. There is no limit to their belief that people should be controlled by smart bureaucrats in Washington,” says Gregg. “They’re putting our country on a path that will reduce the quality of life for the next generation, undermine our nation’s wonderful exceptionalism, and Europeanize our economy to curb its growth.”

Harry Reid’s health-care bill “was purchased,” says Gregg. “Our system of checks and balances is gone. We now have a government that lurches with great speed even though our system is founded upon incremental change.” And don’t hope that the House stops the runaway train, he says. “I think the House is ideologically even further to the Left than the Senate. There are many people there who are committed to taking us down the road toward nationalization.”

“In the future, discretionary dollars won’t be able to be spent on college or a new house, but on this massive new burden for Americans,” says Gregg. “Eventually, at some point, the pressures on the private sector will tip the scales so that employers offering private insurance send people over to the health-care exchange. It’s all part of their ultimate goal to get a vast amount of people subsidized by the government.”

This is an “unsustainable course for our nation,” says Gregg. “We can’t sustain the debt we’re adding. Soon we’ll reach banana-republic status.”

I agree. Actually, it is worse.

They Would Be In Jail

Author: Dan Chakonas  |  Category: Economy, Government

The financial accounting that is going on right now at the White House, CBO, and Congress would land business executives in jail. This fraudulent accounting is exponentially worse than Enron.

The guys at Enron went to jail for far less than what is being committed on a daily basis in this Congress.

Bizarro World

Author: Dan Chakonas  |  Category: Economy, Government

Today Barack Obama said we need to spend money to reduce the deficit.

We literally are living in the bizarro world where up is down. I am not even going to explain how stupid this is. If you don’t get it, then there is nothing I can say to you anyway. God help us.

Trillions As Far As The Eye Can See

Author: Dan Chakonas  |  Category: Economy, Government

The budget deficit for the first two months of the fiscal year is $292 billion according to reports released yesterday.

At this pace the total annual deficit will be $1.752 trillion for 2010. Hopefully they will slow down their binge spending, at least a little.

Remember Pearl Harbor

Author: Dan Chakonas  |  Category: Solitude

68 years ago today Pearl Harbor was attacked. It was the act that brought the USA into WW2. On a personal level, it brought my Grandfather Danny (who I am named after) into the war as well, where he fought in the pacific in the army infantry.

As the years tick by we lose more and more WW2 veterans. Before you know it, they will be gone. So, if you get a chance, thank one.

Does This Look Sustainable? Update1

Author: Dan Chakonas  |  Category: Economy, Government

In my opinion, the employment data released today is ludicrous. I do not believe it. The BLS reports -11,000 and the unemployment rate dropping from 10.2 to 10. The ADP report shows -169,000. I now believe the BLS numbers are being cooked for political reasons. In the past I wrote that the BLS was removing too many people from the labor force in order to make the numbers look better and that has only continued. November’s real numbers are far closer to what ADP reported.

Here is the updated chart showing the market going up as unemployment also goes up, and stays up.