Today's post starts with a reference we all should read. 10,000,000 emails disappear against Federal regulation when we start a war, give out the identity of our covert EXPERT on Iranian nukeular policy and start investigations that could lead to impeachment. Either this is the Gang who could not think straight (I wonder if computers were around 6,000 years ago. or did they evolve?) or they think that "if the dog ate their homework" that is okay. At least concoct excuses better than an eight year old.
Being a geek, I called in late to work today when I saw Barnake (I am sorry, I mispelled his name yet another way earlier, no disrespect intended) today at his hearing thingie. Very precise statement of facts, I know.But, he was sweating and his voice was wavering as he stated his case. We need a short-term fix. Not over the next year, within 2-3 months. Period. Tax cuts he would not comment on as he put it "I won't get into politics."
Later he spoke of balancing input and output. You either cut the budget majorly or add taxes. Not rocket science. Anyone who raises kids and pays mortgage knows you have to buy clothes, food, utilities and pay mortgage. You don't have an option. And you only have XXXX amount of dollars. Duh. Unless you are born with a silver spoon and don't have to worry about these things. Ah, dreams of being a kept man float through my head. as do fantasies of winning. Or wiining powerball.
Anyhow, he also mentioned that the mortgage carnage is worth $100,000,000, but may be MULTIPLES of that and maybe as much as $1,000,000,000 or 7.x% of America's annual economy. OW! But no one saw it coming. This is why there is need for a short term stimulus, just so people who have to buy gas, buy food, and pay bills can do it. Or best case so they can buy products. This is a far cry from long-term benfits (if any) from a trickle down (genuflect to St. Reagan) economy. As many times as he said short-term, I got very afraid. very, very afraid of what he is seeing in the tea leaves.
Ooops flight is going. maybe more on this later.