Senator Jim Bunning of Kentucky..A Man of Principles

[graywolf]

While Senator Bunning is getting railed in the MSM, I believe he has made his point.  In fact, he was only promoting what President Obama called for on 2/12/10 that Congress should not spend any more money unless the money could be found by cutting something else.  And while there are many sad and unfortunate stories of unemployed citizens, the fact of the matter is that Bunning used them to illustrate the spending mania that is prevalent in our nation's capitol without thinking of the ramifications ie let's just keep from borrowing from other countries (China) or just print up some more cash.  Did he get anyone's attention?  I should say so!  Did he get any support from either side of the aisle?  Not Much!  He did get a lot of criticism for furloughing 2000 government employees.  Wow, there's a group who needs some permanent furloughing!  Well, happily every one won't miss a check.  But according to government statistics, most people wait until about 2/3 of their benefits are gone before they actually start looking for a job.  Not my numbers, the Government.  I've been on unemployment a few times.  Even as a college graduate, it has been tough to find work here in Michigan.  My point is Senator Bunning is not a cranky, old stick-in-the-mud who wants to make the down trodden suffer.  Rather, he was trying to make the point that this rampant spending on this scale must stop.  After all, what's an extra $10,000,000,000!

[ericire12]

And then he caved

[Pathfinder]

And then he caved

Maybe, after he made his point.

[ericire12]

Maybe, after he made his point.

The sad part is that it takes a politician that is not going to be runnign for election again to get the balls to actually say the right thing.

[twyacht]

Right after BHO was elected the Congress signed the PAYGO Act, "Pay as you go",,,,no legislation would be passed without the designated funds to make it happen....

Well, WE all know how that turned out, deficit spending is already taking chunks out of our grandchildren's future. Remember the sign last summer of the 2 year old that said "I owe $37,000"....

Point being, Bunning called it, for legislation the majority passed, it's a shame other so-called Republicans aren't swtepping up to point this out, because they are also worried about staying in office.

The Republican Party would be well advised to realize that most of the U.S. think 'THEY SUCK TOO' and America wants pretty much ALL OF THEM OUT.

Don't try to ride the coat-tails of how politicians should act, and than not have the testicular fortitude to call a 30 extension what it is.

Thirty days from now we get to revisit this, as statutes mandate WE DON'T HAVE THE MONEY FOR APPROPRIATIONS!!!!!

[Sponsor]

[2HOW]

Guys a JACKASS

[Rastus]

Ya'll try to remember this time next year.....when today's economy may be known as "the good old days".  The mortgage crisis that hit subprime mortgages and got this mess rolling in earnest starts anew this month.  It will take two or three months to catch up...but ARM resets are hitting and rates are going up boys and girls.  Mortgage resets don't calm down until 2012.  The extra payments will negatively affect the economy and the defaults are going to further glut the market and drive property values down further...even in areas like Orlando where 40% loss is common. 

But people can refinance you say....uh, huh...rules have changed so the easy rules that allowed the ARM's no longer apply...so, many people can't get the cheap fixed rates (almost like that was planned, eh?).  There is another group...the one's who own a home worth less than the balance on their loan since the price drop...they can't refinance either.  Both groups have rates increasing now and more and more families will be facing increased payments every month for a while.  Is the government addressing that....NO.

Credit Suisse released a graph of mortgage resets in 2005.  We are in the eye of the storm right now.  And, I am afraid, like a hurricane it's gonna be worse on the backside due to all of the "help" the administration is giving the people.  For all the talk about helping people one thought could help more than the billions given to Wall Street Thieves...allow people who have an ARM to refinance under the old rules even if their loan balance exceeds their home value....you don't hear that from the Dems or the RINO's do you?

Some of you guys can call Bunning names, but if this thing goes south into a deflationary period...and it may...everyone is going to wish that those pork budgets had been eliminated.  We will be at a deflationary tipping point mid to late summer...deflation is what leads to depression.  We need to pull together and get the crazy budgets stopped....it's bad that helping people is tied to wanton spending, but it is because that is the way that politicians exploit people for personal gain.  We should all be prepared to be hurt in one way or another.  If our warriors can lose their lives and spill their blood, can't we stand economic discomfort or loss as our patriotic duty? 

I'm an old guy at 53 so all I know is inflation.  It's the 80 year olds that know deflation....and the depression.  We go with what we know and that is dangerous in our evaluations of what we think the economy will do because virtually all of us still alive have never seen deflation.  Deflation is what happens when there is not enough money around...all that most of us have known is easy money....notice a drop or elimination in credit card offers...that's because there isn't as much money around as there was a year or two...please let that sink in.  Many of us have heard what the old timers said about..."There wasn't any money to be had."...without really realizing what it meant.  If someone does not stop the Wall Street confiscation of your dollars and my dollars and stop the government from throwing your dollars and my dollars away we will find out what they meant by "no money to be had".

If you think the "no money to be had" thing is bull and believe that the lack of credit card offers doesn't really say that....ask someone in business who needs money for expansion or to tide them over waiting on account payables.  There is some teeter tottering of small business going on in the background just because of the lack of money to access for business...an entire new world many people never see.  Adjustments to tight credit have been made by small business but crater the economy a bit more mid summer and that tipping point may not only hit real estate...it may hit business in credit access and if it does these are the good old days right now.