Rep Barney Frank(D)Mass, has introduced a bill to regulate compensation. Folks, this reeks of communism. I suppose Obama will support this bill until the public outcry. When AIG decided to honor its contractual obligation and pay its bonuses, Congress decided to levy a 90% tax. A lot of Americans, though outraged at the bonuses in light of major financial mismanagement, was just as or more outraged at the 90% tax. Obama backed off on the 90% number and suggested the Senate take a more moderate approach.
President Obama is in the UK at the G20 Summit. Now that he does not have his teleprompter, it will be interesting to see how he bumbles and bobbles he way through. We can only hope he has decided to make up for his blunder with Prime Minister Gordon Brown and take him a better gift. His snafu with this issue and the First Ladies thoughtless Marine 1 models for the Brown's two boys are probably the most embarrasing with our time tested allies. The British were deeply offended and one British reporter called it "just short of an international incident."
GM and Ford have decided to jump on the bandwagon and offers its customers payment protection. If you lose your job, they will tote the note for you. This is nothing less than assisting Americans with buying the overpriced worthless machines. Cars cost today what decent housing cost just a few years ago. No new technology has been introduced to warrant these price increases. Make a V8 that gets 40 mpg in town and twice that on the highway and then we can talk. Until then Ford and GM, if you want to help the average American purchase your products, price them more in line with what you are offering. Todays cars should cost no more than $20,000 for the fully equipped. American cars are the only thing that costs tens of thousands of dollars and yet lose 45% of its value when you sign the title. Saturn is the exception. They hold a resale value and get this, Saturn actually makes a vehicle worth buying. They are solvent and not standing in the bailout line. Imagine that Ford and GM. Take a page out of the Saturn book.
Just another reminder about the Tea Party. Get those tea bags in the mail tomorrow to protest excessive pork barrel spending. Between the bailouts and pork projects, government spending is out of control and we are going to pay for it exponentially. Mail your tea bags to the White House and address it to Barak Obama.
Sticking Up For Our Constitution
4 years ago