On June 17^th 2008 I wrote a BLOG post titled Change, Change, Change. I would like the readers of this BLOG Post to read that one before reading this. One thing more, I would never call the Democrat Party, the Democratic Party. If anything I would label them the Socialists Democrat Party.

The Heritage Foundation has come up with the cumulative cost of $8,400,000,000,000.00 for this spending bill for the 8 years, 2010-2017. That is about $28,000 for every man, woman and child in the USA and a family of four, $112,000.

On top of this, since Obama came on board on January 20^th 2009 the stock market went plunging from 7949.09 to, on March 5^th 6594.44 which amounts to $2.5 trillion in market losses. Even prior to that when it was almost certain he would be the Domocrat nominee the market started heading down from 12,000.

We have lost over 50% of the savings in our 401K accounts leaving retirees relying on their own savings CDs and other out of stock market accounts. Even the Wall Street Journal has said that “the economy actually would be recovering were it not for the anti-growth policies being pursued by the Obama administration”.

Obama has managed to mismanage just about every financial and industrial sector in the nation with his new policies and the articles in his Stimulus Bill and his proposed budget or just by opening is inexperienced mouth.

Obama has talked about the need to nationalize our banking industry, government control over our insurance and a European socialistic universal health care plan.

The Government will mandate the rules of banks when lending money. He has said that even solvent banks have to accept the money so they can lend more. This is so he can get control of all banks. Many solvent banks have sent the money back regardless of his order, saying, they have plenty of loan available money and in fact have not turned down any qualified borrowers.

There goes the HMO, PPO, Blue Cross and God knows how many other Health Insurance Companies. The Government will expand to about 650,000 more employees for oversight, distribution of money, and administration of services. 

Obama’s talking about cutting back our spending on strategic defense systems, raising taxes on large corporations and even on money made off shore by multinational corporations.

Say so long to thousands of defense manufacturing jobs, and also will put the USA’s security at risk.

Just by putting a cap on executive salaries will cost the Government $11billion in tax revenue over a ten year period.  Letting the Bush tax cuts expire in 2010 from would cause large and multinational corporations to relocate their headquarters in other countries, which many companies already have. Obama is saying he supporting small business by cutting their Capitial Gains tax, but 95% of small businesses only pay income tax which will go up because they make above the $250.000 limit.  Remember Joe the Plummer?    

The Government is the taking away the tax deduction on high end home mortgage interest and just recently the Democrats are talking about using the money in our 401K plans to bolster up Social Security.

If you remember this whole downward cycle started with the subprime mortgage debacle. Fannie Mae finally became insolvent and could not take on any more of the bundled mortgages from conventional banks. Of course the Democrat war machine went to work on former President Bush and blamed his administration for lack of over sight. This was a good move by the Dems. who wanted to direct the attention away from their own lack of understanding of the problems that would occur in later years after the Clinton admistration in the 1990s forced banks to take on mortgages from people who could not meet the conventional mortgage terms.

This problem was well documented in a feature article in the New York Times on September 30^th 1999. .

This is a summation of the article:

''Fannie Mae has expanded home ownership for millions of families in the 1990's by reducing down payment requirements,'' said Franklin D. Raines, Fannie Mae's chairman and chief executive officer. ''Yet there remain too many borrowers whose credit is just a notch below what our underwriting has required who have been relegated to paying significantly higher mortgage rates in the so-called subprime market.''

Demographic information on these borrowers is sketchy. But at least one study indicates that 18 percent of the loans in the subprime market went to black borrowers, compared to 5 per cent of loans in the conventional loan market.

In moving, even tentatively, into this new area of lending, Fannie Mae is taking on significantly more risk, which may not pose any difficulties during flush economic times. But the government-subsidized corporation may run into trouble in an economic downturn, prompting a government rescue similar to that of the savings and loan industry in the 1980's.

''From the perspective of many people, including me, this is another thrift industry growing up around us,'' said Peter Wallison a resident fellow at the American Enterprise Institute. ''If they fail, the government will have to step up and bail them out the way it stepped up and bailed out the thrift industry.''

You should also know that Franklin Ranies left Fannie Mae just before the DoDo hit the fan, with millions of bonus dollars. Raines was also the lover of Barney Franks, Democrat and House Financial Services Committee Chairman.

Obama has also just about killed every energy sector with all this talk about Cap and Trade. He is not fully utilizing our own resources, and caving into the environmentalist’s lobby. This will result in a price hike and higher taxes on just about every product and service we consume and use.

Making automobiles more efficient and cheaper is just BS. The Department Of Transportation of the Federal and State’s Governments gets their income from gas tax. With the entrance of gasless motor vehicles how do you think they will come up with that money? They will mandate putting a GPS in all vehicles and tax us on our mileage at the same time they will know our exact location, like On-Star, except we won’t have the choice of purchasing it.   

In my opinion, I don’t think President Obama has the slightest idea what he is doing or how he is affecting our economy by what he is implementing or saying. If he keeps spending under his current plan, there will be less people paying into the tax pool, because of business closings and employee layoffs.  We will be, in effect be pulling a Bernie Madoff on ourselves. Obama might be a Harvard Graduate but he has no practical application in Business or working in the private sector. This is the problem when we elect Senators who have not run any prior form of government. Obama is using this office as his training ground and we will suffer for electing him.

President Obama will be drastically changing the model this country was founded on by converting our Capitalistic form of enterprise to a Socialistic Hugo Chaves Government model. This will never be tolerated in this country and a high tech Boston Tea Party will be waged. In the mean time all sectors of our country will be crippled for many decades.

Let me say, I believe, that Obama has created the deepening of this recession and it started when he was on the campaign trail. All of our business sectors and investors, listening to his proposeed policy statements, were laying the foundations for the time when, or if Obama, got elected. Investors and businesses, large and small, knew that they were his target. They prepared for the cataclysmic events that would occur if he got elected. As soon as they knew he would be President they started selling off. The banks stopped lending, small and large business started laying off employees, thousands even thought it was time close and take their money and run. This was their “Boston Tea Party”

Obama has to stop blaming the former President. All new Presidents inherit something from previous administrations. The sooner Obama takes ownership of these problems and stops acting in a panic mode the sooner this will be over. I am willing to bet though, the Democrats will keep on going until the 2010 Congressional elections and thereafter if they keep wining.

What more does Obama need to be convinced that we have a “supply side economy”. When the Stock market plunges, manufacturing cuts back or closes and the banks stop lending, money goes no where. I am convinced the solutions are sitting on his desk, however he has promised so many people, so many things, he has to spend, big time. His policies are all about politics while people are having some of the worst times in their lives he is serving $100.00 a pound KOBE Beef to guests in the White House and flying around on Air Force One everyday telling people his policies saved 25 jobs.