Are you already tired of the new CHANGE? The current administration is passing bills that will regulate our lives and leave our children and grandchildren in huge debt for many years. As concerned citizens, we are against more taxes, governmental controls and these huge deficits. When AIG received a federal loan guarantee of $180 billion to prevent bankruptcy, and then gave some $165 million to its company’s derelict executives the public was outraged.
Congress was in an uproar. Lawmakers rushed out to demand all sorts of penalties for these greedy bankers. Soon, they passed an unprecedented special tax law just to confiscate 90 percent of these contracted bonuses.
However, those who shouted the loudest for the heads of the AIG executives had the dirtiest hands. President Obama appeared to be outraged at their greed, but he signed their bonus provisions into law. In addition, Obama accepted over $100,000 in AIG donations during his campaign.
Rep. Charles Rangel, chairman of the House Ways and Means Committee, acted even more infuriated at such greed, but he helped pass the retroactive tax bill. Yet for years, Mr. Rangel - who is in trouble over back taxes owed and misuse of his subsidized New York apartments - had tried to entice AIG executives to fund his Charles B. Rangel Center for Public Service at the City College of New York.
Sen. Christopher Dodd was the fieriest in his denunciations of Wall Street greed. Yet he was the one who inserted the bonus provision into the bailout bill, despite later denying it. And Mr. Dodd has taken more AIG money than anyone else in Congress - in addition to getting VIP loan rates from the disgraced Countrywide Financial Corp. mortgage bank.
Then, there is the budget... Mr. Obama inherited an annual budget deficit and a ballooning $11 trillion national debt, but nevertheless promised us a new national health plan, bigger entitlements in education and a vast new cap-and-trade energy program.
But paying for Mr. Obama’s $3.5 trillion budget seems to be a problem. Proposed additional taxes on the "rich" still won't provide enough revenue to avoid tripling the present budget deficit - and therefore putting us on track to add another $9 trillion to the existing national debt during the next decade. It appears that under this administration, we will receive much higher taxes and higher deficits than under any previous administrations.
This presents a BIG problem. Our government is spending money we don't have! Our lawmakers are telling us that the “rich” will pick up the tab, even though there are not enough “rich” people to foot the bill. Our new political leaders, who have gained power by appealing to people’s emotions and prejudices, have diligently sought to convince us that more government control and big spending is the best course of action.
Likeminded citizens are invited to attend a “New American Tea Party” at Goldsboro City Hall, at 12:00 Noon, April 15, to pray for our leaders, and let our voices be heard.
Monday, March 30, 2009
Reader Mail: Tired of the New Change?
Linda, a teacher from Goldsboro, writes in to express her frustration with the administration and Democrats in Congress and also to raise awareness for the Goldsboro "New American Tea Party" coming up on April 15.