Friday, July 22, 2011

Spenditol: the answer to all our problems!

“Spenditol is Washington’s answer to all the painful problems Americans face. How to borrow $800 Billion for a Stimulus that didn’t create jobs or fix the Economy? Spenditol!”

Thursday, July 21, 2011

Paid in...bull.

Remember when President Barack Obama visited a Chrysler plant in Toledo, Ohio, on June 3 to discuss the recent announcement that the Chrysler Group LLC repaid $5.1 billion in outstanding loans? That brought the total repayment, as of May 24, to $10.6 billion — about $1.9 billion less than the $12.5 billion the company borrowed under the Troubled Asset Relief Program, or TARP.

In his speech, the president said:

Obama, June 3: "And today, I’m proud to announce the government has been completely repaid for the investments we made under my watch by Chrysler because of the outstanding work that you guys did. Because of you. Chrysler has repaid every dime and more of what it owes the American taxpayer from the investment we made during my watch. And by the way, you guys repaid it six years ahead of schedule."

Well, here's the bottom line: the Chrysler Group bailout officially ended today (July 21, 2011) when the Treasury Department sold off its remaining stake in the automaker. The final tally shows the taxpayers lost $1.3 billion.

Yep, we lost. $1.3 billion. With a "B."

Treasury is unlikely to recover the remaining $1.3 billion. But Tim Massad, the Treasury assistant secretary who oversees the TARP program, declared the bailout a success just the same.

Of course, just the same.

Wednesday, July 20, 2011

When all else fails...

...blame someone else.

President Barack Obama is asked about the "frustration" people are feeling when it comes to the unfulfilled promises of "change" dating back to his presidential campaign. In this television interview, Jerry Revish from Columbus, Ohio's WBNS-TV's puts the question to the president.

The video is here - the Blame Game starts at about the 6:27 mark. The transcript of the question and the president's answer follows (key portion underlined):

Revish: "There's still a lot of frustration from people continuing to wait for that change that you promised, they don't feel better off now than they were 3 years ago. How do you convince them we're headed in the right direction?"

Obama: "Well, look there's no doubt that we've gone through the toughest economic situation that we've seen since the Great Depression. I think the vast majority of people understand that this is something that we inherited and that when I came into office we'd already lost 4 million jobs and the few months after I got sworn in we lost another 4 million. We've created 2 million jobs, over 2 million jobs in the private sector over the last 15 months, the problem is that we got in such a big hole right at the start there in 2009 and we're still digging our way back. But what I think the American people want to know is there's a game plan for the future and what we've said is, if we're getting our fiscal house in order, if we're investing in the infrastructure of the future, not just roads and bridges but also broadband lines and a smart grid that makes sure that we don't waste energy, if we're developing a clean-energy and alternative energy future for ourselves so that we're not dependent on foreign oil, if we're making sure that every one of our kids is the best educated in the world so that they can compete in this new world economy, if we take those basic steps, I'm absolutely confident that America's going to not just bounce back but we'll be stronger than ever, what people want to know is that we're moving in the right direction even if they're frustrated with how fast we're moving, we need to speed it up but I think the trajectory's a good one."

So did you get all that? Whatever hasn't gone right isn't his fault. Apparently, the buck doesn't stop with him...

Monday, July 18, 2011

Money talks...

Steve Wynn...

Steve Wynn, the CEO of casino company Wynn Resorts, delivered what some are calling "an epic anti-Obama rant" during his company's quarterly conference call today.

(The audio can be heard here...)

The self-described "Democratic businessman [who supports the U.S. Senate majority leader -- who just happens to represent Nevada, which is home to Wynn's hotels and casinos] Harry Reid," laid into the Obama administration for its failed economic policies.

One of Wynn's signature properties/accomplishments...

Some excerpts from Wynn's "chat" --

"And I'm saying it bluntly, that this administration is the greatest wet blanket to business, and progress and job creation in my lifetime. And I can prove it and I could spend the next 3 hours giving you examples of all of us in this market place that are frightened to death about all the new regulations, our healthcare costs escalate, regulations coming from left and right. A President that seems, that keeps using that word redistribution. Well, my customers and the companies that provide the vitality for the hospitality and restaurant industry, in the United States of America, they are frightened of this administration.And it makes you slow down and not invest your money. Everybody complains about how much money is on the side in America."

"You bet and until we change the tempo and the conversation from Washington, it's not going to change. And those of us who have business opportunities and the capital to do it are going to sit in fear of the President. And a lot of people don't want to say that. They'll say, God, don't be attacking Obama. Well, this is Obama's deal and it's Obama that's responsible for this fear in America."

"The guy keeps making speeches about redistribution and maybe we ought to do something to businesses that don't invest, their holding too much money. We haven't heard that kind of talk except from pure socialists. Everybody's afraid of the government and there's no need soft peddling it, it's the truth. It is the truth. And that's true of Democratic businessman and Republican businessman, and I am a Democratic businessman and I support Harry Reid. I support Democrats and Republicans. And I'm telling you that the business community in this company is frightened to death of the weird political philosophy of the President of the United States. And until he's gone, everybody's going to be sitting on their thumbs."

The money is talking, Mr. President? Are you listening?

"Change that works for you." Riiiiiiiiiiiiiiiiiiiiiiiight...

Friday, July 8, 2011

Is it getting warm in here?

It is if you're Al Gore (or one of his fellow Warmists)...

If you're inclined to listen to facts, and be entertained at the same time, you'll enjoy this whiteboard presentation (below) by Roy W. Spencer, a former NASA climatologist and climate expert. In the clip, he explains the why the hysteria over global warming is overblown and illustrate the role energy plays in our lives.

Who knew facts could be so interesting?