11 Mar 09 The Rampant Spending of Congress of American Tax Dollars

By: Ang Biondo

There is much confusion in this great land of ours these days. Those who have money don’t know where to put it and those that don’t, don’t know where to get it. The first $350 Billion of the $700 Billion dollar bailout bill signed by former President Bush has been distributed and John & Jane Doe hasn’t seen a penny of it. It hasn’t been decided on how the remaining $350 Billion should be distributed and Congress passed another $700 Billion dollar “Stimulus” bill to help Mr. & Mrs. America with still no effect on the faltering economy.

Now they are arguing over the $410 Billion “Omnibus” bill, loaded with over 9000 earmarks. This bill was passed by Congress last year and vetoed by then president Bush. Congress was told to get rid of the earmarks, but they chose to wait until president Obama took office and deal with it then.

Although both former President Bush and current President Obama have stated this is no time for earmarks. This is not the time for “pork” spending in a broken economy. To pass this bill as it stands with over 9000 earmarks would be a slap in the face of the already over burdened tax payer of America. A travesty of justice. America was out of funds when Congress approved the first $700 Billion. So if we are out of money, where are we getting all this money for bailouts, stimulus, and omnibus, and already talking of a second stimulus? The hard facts are we borrow from other countries like China, and when we can’t borrow any more we simply run the presses.

UPDATE: President Obama signs the “Omnibus Bill” in private. Breaking from his normal photo op of signing bills on camera. The bill was passed by Congress and signed in private by President Obama with all 9000 earmarks in place.

If you read the statement at the top of our paper money, you will read the words “Federal Reserve Note”. This simply means it is an I.O.U. Unlike the old silver certificates that many of us remember that was actual currency. The difference is that you were actually able to bring the silver certificates to the bank and demand silver for it. The fact that our money was backed with gold and silver meant we could not print anymore money than we actually had in gold and silver bouillon. This kept the value of the dollar strong and envied by many countries around the world.

Today, when we run short of cash, the Fed’s simply start the presses. The problem is the more we print, the less valuable the dollar becomes. The less valuable the dollar becomes, the more inflated it becomes and that translates into higher costs of goods.

It would seem that we did not learn the lessons taught us by the great depression of 1933. Had it not been for World War II we would probably still be feeling the effects. WWII sent the bulk of able bodied men to fight the war and the rest were put to work for the war machine. Though we would rather have not got involved with the war, it turned out to be a blessing for the economy. And, when that war ended in 1946 we barely had a breather before getting involved with the Korean Conflict, which seemed to run into the Vietnam war.

America’s factories were virtually running full steam from the start of WWII right through to the end of the Vietnam war in the ‘60’s. Many of these factories have disappeared from the face of America. Congress and State tax laws have made it too costly for them to operate here.

No it is not labor costs that break a company. Many of the companies that relocated to other countries were not unionized and paid the minimum wage. And those with unions, negotiated contracts that both parties signed and agreed to the terms of the agreement. I can’t think of any company that would negotiate a contract that would break them. Nor can I justify a reason for a union to negotiate an agreement that would break the company and place their membership on the unemployment lines. Companies can control labor costs, they can’t control taxes caused by rampant Congressional spending.

Have no doubt about it, this 111th Congress (with a 14%) approval rating is ignoring the cries of the majority, and spending American tax dollars that will take the unborn children of our grand-kids to pay back. Congress is ignoring the fact that future generations of Americans may run into similar economical emergencies, and their problems may be compounded by the decisions made today. Who will bail them out? Where will they get the funds for a stimulus bill to bail them out. They will heavily taxed to begin with to pay off our bailout’s, stimulus, and omnibus bills.
Rest assured, someone will have to pay for this money we are spending today. If it is not to be the executives of today with their multimillion dollar incomes and golden parachutes, or the Congressional members raking in the millions from lobbyist, and we (the poor and middle class), are to benefit from all this spending – then that leaves only future generations to pay off this massive debt.

I have little hope to ever see any of the near $2 trillion dollars passed by this very liberally controlled 111th Congress. I hope I’m wrong, but if the “omnibus” bill with its 9000 earmarks (which includes a multimillion dollar grant to find out why “pigs stink”, and another for “Acorn” with multiple law suits against them for multiple voter registrations of individuals.) I see no end to the economic crisis.

If you are as upset as I am about what is going on, Please! Write to your Congressional representatives and let them know how you feel. And, if you approve of what they are doing – let them know that too.

1. In Summary:
   We are indebted to China who has loaned us billions of dollars, and who we have an enormous trade deficit with. China! A country who has no use for us other to unload their goods on. They have already made it clear to us that they will not lend us any more money.
2. If we have no one to borrow from, we must start the presses. This will devaluate the dollar, in turn raising the price of goods that have not lost their value. Devalued dollar + supply and demand goods= Higher costs for all goods. 
3. Financial experts predict anyone now 40 years of age or younger will have to start paying off this enormous debt that Congress has burdened us with. The government will undoubtedly have to impose taxes on everyone. You can expect to see these taxes in the form of surcharges, utility, consumer, savings, and other forms of taxes etc., while holding down the obvious taxes so they can claim pseudo tax relief for the middle class. They will continue to do this until we, (the American public), let them know that we know what they are up too. As long as they think they can pull the wool over our eyes, they will just continue to spend our hard earned tax dollars. 
   1. We need to let Congress know:
      We want our jobs brought back to the United States of America. 
   2. We want “fair and equal” trade agreements, without deficits. It would be irrational to think we could have trade agreements without deficits, however Congress needs to enforce the equity of the “Trade Agreements” with other countries. Maybe impose a tariff on goods imported from countries with a trade deficit greater than $250 million dollars. I believe this would be a fair example. A quarter of a billion dollars is more than a fair trade deficit. 
   3. In view of the recent chain of events where so many recent nominees to key positions in Obama’s cabinet owed back taxes, only to pay them after they were nominated – I believe the American tax payer is entitled to have honest law abiding representation in power. If they are to make and impose the laws on the American populus, it is not to much to ask for those who are making and imposing the laws to live by them as well. When situations such as these are brought to light, the world is made aware of it. Other countries look at this, not as a unique situation, but as a corrupt nation placing doubt in the minds of our allies.

Take pride in your Nation and let your representatives know how you feel about what’s going on. You can contact them through the links below and can also view and/or download all of the bills by clicking on the appropriate link below.

You can contact or write your Congressman here: Your Congressional Representative

You can contact or write your Senator here: Your U.S. Senate Representative

The Bailout Bill: H.R.1424 - Emergency Economic Stabilization Act of 2008

The Omnibus Bill: H.R. 1105 FY 2009 Omnibus Appropriations Act

The Stimulus Bill: H.R. 1 - 2009 ECONMIC RECOVERY ACT

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