The Everyday American

25 September 2008

After hearing President Bush address the nation last night and after re-reading it online today, I felt compelled to give my opinion. Who am I? Nobody really, just your “Everyday American” who works hard, struggles to get by, raise a family and live a “normal” lifestyle. Please keep in mind while reading this that I am NOT a very political person. Generally, I don’t talk politics with people and I have no interest in discussing politics in the future. But today, and in my opinion, I have something on my mind that I feel just needs to be said.

First, as I watched his (GWB) eyes, my first thought was “thank God (yeah, I said God!), he’s reading a pre-written speech” Because that told me that someone had actually put some thought into this and Bush wasn’t just shooting from the hip and “mis-speaking” his usual babble.

Then, right off the bat, the second statement after “Good Evening” got on my last nerve. President Bush said, and I quote, “Over the past few weeks, many Americans have felt anxiety about their finances and their future. I understand their worry and their frustration.” Now, I won’t pick apart the entire speech but this statement is a good place to start.

This feeling of financial insecurity that he’s talking about, that we feel, is not something new. Saying “the last few weeks” is a huge understatement. Try years, Mr. Bush, not weeks! I feel that he is so far removed from the “Everyday American” that honestly, he has no idea. He makes far too much money and has way too many liberties to understand the anxieties and worries of the average person and I believe he would have a very different view if he had to live on an average income, which is roughly $50K per year according to the United States Census Bureau.

Ok, with that said, I’ll get to what really burns my ass. There were all kinds of red flags flying around in my head when he said that the $700 BILLION “bail out” dollars would be coming from, well, ME…and YOU…the tax payers. It’s not so much the idea of us working toward fixing the economy; after all it is OUR economy, but the fact that we are already scratching and clawing to make ends meet as it is, I feel this is going to create even bigger financial problems for the “little guy”. You know, the 50K a year and under family???...

There’s got to be another way! If I had a say, which no one really does except for the government, but IF I did…It would probably go something like this…
Since we need approximately 700 billion dollars, here are a few thoughts….

ILLEGAL IMMIGRATION

Recently I received an e-mail titled “Are we THAT stupid??” This e-mail highlighted the cost of ILLEGAL immigrants in this country. Don’t misunderstand me; I am not referring to legal immigrants at this time… (That’s a whole other issue). According to this e-mail, which was accompanied by web sites where this information was reported, we spend billions and billions of dollars on ILLEGAL Immigrants; on people who shouldn’t be here in the first place. IF YOU ARE NOT A LEGAL AMERICAN CITIZEN THEN YOU DO NOT HAVE ANY RIGHTS TO AMERICAN MONEY. MY MONEY!!! OUR MONEY!!!!


Read the information below and see for yourself how sickening this is!!!!!!
1. $11 Billion to $22 billion is spent on welfare to illegal aliens each year. Verify at: http://tinyurl.com/zob772. $2.2 Billion dollars a year is spent on food assistance programs such as food stamps, WIC, and free school lunches for illegal aliens. Verify at: http://www.cis.org/articles/2004/fiscalexec.html3. $2.5 Billion dollars a year is spent on Medicaid for illegal aliens. Verify at: http://www.cis.org/articles/2004/fiscalexec.html4. $12 Billion dollars a year is spent on primary and secondary school education for children here illegally and they cannot speak a word of English! Verify at: http://transcripts.cnn.com/TRANSCRIPTS/0604/01/ldt.0.html5. $17 Billion dollars a year is spent for education for the American-born children of illegal aliens, known as anchor babies. Verify at http://transcripts.cnn.com/TRANSCRIPTS/0604/01/ldt.01.html6. $3 Million Dollars a DAY is spent to incarcerate illegal aliens. Verify at: http://transcripts.cnn.com/TRANSCRIPTS/0604/01/ldt.01.html7. 30% percent of all Federal Prison inmates are illegal aliens. Verify at: http://transcripts.cnn.com/TRANSCRIPTS/0604/01/ldt.01.html8. $90 Billion Dollars a year is spent on illegal aliens for Welfare & social services by the Americantaxpayers. Verify at: http://premium.cnn.com/TRANSCIPTS/0610/29/ldt.01.html9. $200 Billion Dollars a year in suppressed American wages are caused by the illegal aliens. Verify at: http://transcripts.cnn.com/TRANSCRIPTS/0604/01/ldt.01.html10. The illegal aliens in the United States have a crime rate that's two and a half times that of white non-illegal aliens. In particular, their children, are going to make a huge additional crime problem in the US Verify at: http://transcripts.cnn.com/TRANSCRIPTS/0606/12/ldt.01.html11. During the year of 2005 there were 4 to 10 MILLION illegal aliens that crossed our Southern Border also, as many as 19,500 illegal aliens from Terrorist Countries. Millions of pounds of drugs, cocaine, meth, heroin and marijuana, crossed into the U. S from the Southern border. Verify at: Homeland Security Report: http://tinyurl.com/t9sht12 The National Policy Institute, estimated that the total cost of mass deportation would be between $206 and $230 billion, or an average cost of between $41 and $46 billion annually over a five year period. Verify at: http://www.nationalpolicyinstitute.org/pdf/deportation.pdf13. In 2006 illegal aliens sent home $45 BILLION in remittances back to their countries of origin. Verify at: http://www.rense.com/general75/niht.htm14. The Dark Side of Illegal Immigration: Nearly One Million Sex Crimes Committed by Illegal Immigrants In The United States . Verify at: http://www.drdsk.com/articleshtml



Now, moving on from there…

OUTSOURCING

How many jobs were lost due to Outsourcing???? Maybe we should think about not giving tax breaks to companies that outsource but instead, give them a tax break for keeping America alive. Keep the businesses here in the good old United States. This is where we Americans live and this is where we need to work to keep our economy up and running. Why do you think our homes were foreclosed on in the first place??? ‘Cause you sent my job to India, that’s why!

EDUCATION

How about this government making available more educational grants to American Citizens and stop spending 3 Million dollars a day to incarcerate illegal aliens.
We spend 12 billion a year to school kids who are here illegally and don’t even speak English… Our kids are sitting in overcrowded classrooms, not getting the education they should have because our teachers are at their wits end wasting time on some kid who, A.) can’t speak the language, B), is not even an American and C), will probably end up costing us more in the long run to keep him in jail or in our welfare system ‘cause since he can’t speak, read or write ENGLISH, how the hell can he learn?

DON’T EVEN GET ME STARTED WITH THE WAR ON IRAQ!

So, in conclusion to my long winded opinion…

There are too many factors to mention as to why our economy is the way it is. Speaking for myself, I feel my United States government has become wishy-washy and has made choices in the past and present that we are paying for. I don’t feel as proud to be an American as I used to feel. I feel let down. It makes me sick to know that one of the CEO’s or CDO’s or whatever from Lehman Brothers got a few million and the use of his company chauffer for the next five years for doing such a great job of running the company into the ground and taking our economic structure with it. It makes me sick to know that the government will give a full education to an Illegal alien and denies one of their own. It makes me sick to pay out the ass for stuff like groceries and gas and it makes me sick to know that our presidential choices for the future of this country are who they are. In this ‘Everyday American’s opinion, It’s going to get much worse before it can begin to get better.

Thank you and May God Bless America…we’re gonna’ need all the blessings we can get!



P.S. If you didn’t here it, here’s President Bush’s speech from last night…

CNNMoney.comRead President Bush's address to the nationWednesday September 24, 10:12 pm ET

Good evening. This is an extraordinary period for America's economy.
Over the past few weeks, many Americans have felt anxiety about their finances and their future. I understand their worry and their frustration.
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We've seen triple-digit swings in the stock market. Major financial institutions have teetered on the edge of collapse, and some have failed. As uncertainty has grown, many banks have restricted lending, credit markets have frozen, and families and businesses have found it harder to borrow money.
We're in the midst of a serious financial crisis, and the federal government is responding with decisive action.
We boosted confidence in money market mutual funds and acted to prevent major investors from intentionally driving down stocks for their own personal gain.
Most importantly, my administration is working with Congress to address the root cause behind much of the instability in our markets.
Financial assets related to home mortgages have lost value during the house decline, and the banks holding these assets have restricted credit. As a result, our entire economy is in danger.
So I propose that the federal government reduce the risk posed by these troubled assets and supply urgently needed money so banks and other financial institutions can avoid collapse and resume lending.
This rescue effort is not aimed at preserving any individual company or industry. It is aimed at preserving America's overall economy.
It will help American consumers and businesses get credit to meet their daily needs and create jobs. And it will help send a signal to markets around the world that America's financial system is back on track.
I know many Americans have questions tonight: How did we reach this point in our economy? How will the solution I propose work? And what does this mean for your financial future?
These are good questions, and they deserve clear answers.
First, how did our economy reach this point? Well, most economists agree that the problems we're witnessing today developed over a long period of time. For more than a decade, a massive amount of money flowed into the United States from investors abroad because our country is an attractive and secure place to do business.
This large influx of money to U.S. banks and financial institutions, along with low interest rates, made it easier for Americans to get credit. These developments allowed more families to borrow money for cars, and homes, and college tuition, some for the first time. They allowed more entrepreneurs to get loans to start new businesses and create jobs.
Unfortunately, there were also some serious negative consequences, particularly in the housing market. Easy credit, combined with the faulty assumption that home values would continue to rise, led to excesses and bad decisions.
Many mortgage lenders approved loans for borrowers without carefully examining their ability to pay. Many borrowers took out loans larger than they could afford, assuming that they could sell or refinance their homes at a higher price later on.
Optimism about housing values also led to a boom in home construction. Eventually, the number of new houses exceeded the number of people willing to buy them. And with supply exceeding demand, housing prices fell, and this created a problem.
Borrowers with adjustable-rate mortgages, who had been planning to sell or refinance their homes at a higher price, were stuck with homes worth less than expected, along with mortgage payments they could not afford.
As a result, many mortgage-holders began to default. These widespread defaults had effects far beyond the housing market.
See, in today's mortgage industry, home loans are often packaged together and converted into financial products called mortgage-backed securities. These securities were sold to investors around the world.
Many investors assumed these securities were trustworthy and purchasers of mortgage-backed securities were Fannie Mae and Freddie Mac.
Because these companies were chartered by Congress, many believed they were guaranteed by the federal government. This allowed them to borrow enormous sums of money, fuel the market for questionable investments, and put our financial system at risk.
The decline in the housing market set off a domino effect across our economy. When home values declined, borrowers defaulted on their mortgages, and investors holding mortgage-backed securities began to incur serious losses.
Before long, these securities became so unreliable that they were not being bought or sold. Investment banks, such as Bear Stearns and they could not sell. They ran out of money needed to meet their immediate obligations, and they faced imminent collapse.
Other banks found themselves in severe financial trouble. These banks began holding on to their money, and lending dried up, and the gears of the American financial system began grinding to a halt.
With the situation becoming more precarious by the day, I faced a choice, to step in with dramatic government action or to stand back and allow the irresponsible actions of some to undermine the financial security of all.
I'm a strong believer in free enterprise, so my natural instinct is to oppose government intervention. I believe companies that make bad decisions should be allowed to go out of business.
Under normal circumstances, I would have followed this course. But these are not normal circumstances. The market is not functioning properly. There has been a widespread loss of confidence, and major sectors of America's financial system are at risk of shutting down.
The government's top economic experts warn that, without immediate action by Congress, America could slip into a financial panic and a distressing scenario would unfold.
More banks could fail, including some in your community. The stock market would drop even more, which would reduce the value of your retirement account. The value of your home could plummet. Foreclosures would rise dramatically.
And if you own a business or a farm, you would find it harder and more expensive to get credit. More businesses would close their doors, and millions of Americans could lose their jobs.
Even if you have good credit history, it would be more difficult for you to get the loans you need to buy a car or send your children to college. And, ultimately, our country could experience a long and painful recession.
Fellow citizens, we must not let this happen. I appreciate the work of leaders from both parties in both houses of Congress to address this problem and to make improvements to the proposal my administration sent to them.
There is a spirit of cooperation between Democrats and Republicans and between Congress and this administration. In that spirit, I've invited Senators McCain and Obama to join congressional leaders of both parties at the White House tomorrow to help speed our discussions toward a bipartisan bill.
I know that an economic rescue package will present a tough vote for many members of Congress. It is difficult to pass a bill that commits so much of the taxpayers' hard-earned money.
I also understand the frustration of responsible Americans who pay their mortgages on time, file their tax returns every April 15th, and are reluctant to pay the cost of excesses on Wall Street.
But given the situation we are facing, not passing a bill now would cost these Americans much more later.
Many Americans are asking, how would a rescue plan work? After much discussion, there's now widespread agreement on the principles such a plan would include.
It would remove the risk posed by the troubled assets, including mortgage-backed securities, now clogging the financial system. This would free banks to resume the flow of credit to American families and businesses.
Any rescue plan should also be designed to ensure that taxpayers are protected. It should welcome the participation of financial institutions, large and small. It should make certain that failed executives do not receive a windfall from your tax dollars.
BUSH: It should establish a bipartisan board to oversee the plan's implementation, and it should be enacted as soon as possible.
In close consultation with Treasury Secretary Hank Paulson, Federal Reserve Chairman Ben Bernanke, and SEC Chairman Chris Cox, I announced a plan on Friday.
First, the plan is big enough to solve a serious problem. Under our proposal, the federal government would put up to $700 billion taxpayer dollars on the line to purchase troubled assets that are clogging the financial system.
In the short term, this will free up banks to resume the flow of credit to American families and businesses, and this will help our economy grow.
Second, as markets have lost confidence in mortgage-backed securities, their prices have dropped sharply, yet the value of many of these assets will likely be higher than their current price, because the vast majority of Americans will ultimately pay off their mortgages.
The government is the one institution with the patience and resources to buy these assets at their current low prices and hold them until markets return to normal.
And when that happens, money will flow back to the Treasury as these assets are sold, and we expect that much, if not all, of the tax dollars we invest will be paid back.
The final question is, what does this mean for your economic future? Well, the primary steps -- purpose of the steps I've outlined tonight is to safeguard the financial security of American workers, and families, and small businesses. The federal government also continues to enforce laws and regulations protecting your money.
The Treasury Department recently offered government insurance for money market mutual funds. And through the FDIC, every savings account, checking account, and certificate of deposit is insured by the federal government for up to $100,000.
The FDIC has been in existence for 75 years, and no one has ever lost a penny on an insured deposit, and this will not change.
Once this crisis is resolved, there will be time to update our financial regulatory structures. Our 21st-century global economy remains regulated largely by outdated 20th-century laws.
Recently, we've seen how one company can grow so large that its failure jeopardizes the entire financial system.
Earlier this year, Secretary Paulson proposed a blueprint that would modernize our financial regulations. For example, the Federal Reserve would be authorized to take a closer look at the operations of companies across the financial spectrum and ensure that their practices do not threaten overall financial stability.
There are other good ideas, and members of Congress should consider them. As they do, they must ensure that efforts to regulate Wall Street do not end up hampering our economy's ability to grow.
In the long run, Americans have good reason to be confident in our economic strength. Despite corrections in the marketplace and instances of abuse, democratic capitalism is the best system ever devised.
It has unleashed the talents and the productivity and entrepreneurial spirit of our citizens. It has made this country the best place in the world to invest and do business. And it gives our economy the flexibility and resilience to absorb shocks, adjust, and bounce back.
Our economy is facing a moment of great challenge, but we've overcome tough challenges before, and we will overcome this one.
I know that Americans sometimes get discouraged by the tone in Washington and the seemingly endless partisan struggles, yet history has shown that, in times of real trial, elected officials rise to the occasion.
And together we will show the world once again what kind of country America is: a nation that tackles problems head on, where leaders come together to meet great tests, and where people of every background can work hard, develop their talents, and realize their dreams.
Thank you for listening. May God bless you.