Quick check on the current status:
- The CBO came out with a non-partisan report showing that Health Care Reform, as it stands now, will not only fail in its main purpose of lowering health care costs – but will actually raise costs by over $1 trillion! Senators from both sides of the aisle are urging a slower pace to take a better look at the tremendous costs. In related news, President Obama is urging Congress to get health care legislation out next month!
- The Chairman of the Joint Chiefs of Staff, the Secretary of the Navy, the Secretary of the Air Force, the current and former Defense Secretaries as well as the President of the United States have all agreed there is no need for more F22 fighter planes beyond those currently contracted. Senators from states where the F22 is built, however, have taken $369 million from an environmental clean-up fund and tacked it onto a defense bill in order to keep building military planes nobody wants during a recession no one can afford, thus creating pork no one will eat. In related news, the budget deficit reaches a record $1 trillion and a little noticed study established that Congress can’t even spell the word “irony”.
- Goldman-Sachs reports RECORD earnings during the worst recession this nation has seen since the Great Depression. Shortly after repaying $10 billion in tax-payer bailouts, Goldman trounced analysts’ estimates and continues to reap billions in profits trading in derivative markets. (Actually, they trade in unregulated tertiary derivatives – that’s a derivative of a derivative of a derivative of something that actually exists, for those of you keeping score at home). In the mean time, CIT – a company specializing in loans to small businesses and entrepreneurs – apparently serves no national interest to the Fed and has been told: “Enough is enough. No more bailouts” (No soup for you!) and is desperately searching for funding while on life support. In related news, keys members of the Treasury, the Fed, the administration’s key economic advisers and the principles of Goldman-Sachs have all agreed on a new secret handshake and expect their membership-only lapel pins to arrive shortly.
After reading these items you might find yourself a little confused… apprehensive even. You might wonder why the press does not present these bits of news together, in a way that reflects the absolute absurdity of the body politic today. You might even find yourself becoming a bit fearful: wondering how we got to such a criminally illogical place (through the looking glass, as it were). But not to worry. Congress is going to help us understand what happened to the economy and how we got here. They’ve announced a commission, chaired by a Democratic: the former Treasurer of California and a Republican: a former representative from California, to “examine the causes of the financial crisis” our nation currently faces. It seems their related contributions to bankrupting the 8th largest economy in the world (the once proud State of California) were of little concern. In related news, it has been announced that registered sex offenders will be heading up a commission to explore marital fidelity and Governors.
Read individually, many of these news items are innocuous. But taken as a whole, it becomes less and less difficult to suspect a conspiracy permeates politics. Maybe this is all coincidence. Maybe a Tin Foil Hat Production can be made to look quite stylish:
But in the end, a proper response to our government was perfected over 30 years ago by John Landis in the movie Animal House. He foresaw those in power telling us “All is Well” and – prophetically – he foresaw the results. Who am I to improve on perfection:
Jeff Ellis says:
that is so crazy about the health care costs increasing so much! someone better figure something out soon. thanks for the post.
July 21, 2009 — 12:38 pm
David Losh says:
I have aluminum, made the hat, and am wearing it now. Uh oh, my wife just came in. It’s OK, she didn’t notice the hat, or chose not to comment on it.
With the hat on I am impervious to your snide accusatory assertions that things may not be what they seem.
All is well. Our government is functioning flawlessly and gliding towards a well planned set of goals. We will be on firm financial footing. My faith is restored.
Thanks for the tip.
July 21, 2009 — 4:26 pm
Benjamin Ficker says:
Great post. Its hard for most people to keep up on the little pieces that actually get reported let alone the stuff that should be reported.
July 21, 2009 — 9:01 pm
David Losh says:
The CBO said in their report that they did not, or could not, factor in the savings of Health Care Reform. Even though there is an investment of $1 trillion there may be a savings to businesses and the tax payer in general. That will be a very sure bet. We spend billions on health care for the uninsured who end up in critical care. The government pays for all of the highest risk any way. Medicare for the elderly VA for the military, and medical coupons for the poor. Let’s also point out we pay higher prices for products that provide health care benefits. We all pay.
The F-22 is being replace by the F-35. It’s about time.
Goldman Sachs is in an alternative universe where banks are continuing to refinance loans, and it appears inventory of housing units are being absorbed handily this selling season. I hear and see sales of homes happening all over the country. The derivatives are being traded on the stock exchange as more and more paper profits. We are hitting 9000 and no one cares to see actual production in those numbers. Profits is what it’s all about.
I agree that the news makes no sense. Over all tax payers should be asking to see actual results from our government that will benefit our future. We are getting nothing in tangible results and people are acting like we just jumped a hurdle.
In the world of posts to the internet I think this was the most thought provoking piece I’ve ever seen.
July 22, 2009 — 7:09 am
Tim Shepard says:
AIG was bailed out for the benefit of Goldman Sachs. http://www.cnbc.com/id/29714822/ . In fact, over $12B from the AIG bailout ended up on their bottom line. We are in an economy where everyone is losing money and experiencing asset draw-downs. However, Goldman, at the taxpayers expense, was not only made “whole” but given obscene profits.
Medicaid is administered in much the same way as it was 20 years ago. This program is run by the government.
I license my truck in much the same way as I did 20 years ago. This process is run by the government.
My kids will get their drivers license in much the same way I did 25 years ago. This process is run by the government.
The United States has the best military technology and equipment in the World. The R&D and production is done by private industry.
The government is on the edge of sweeping health care reform. Like the tarp, most politicians, have not and will not read the bill prior to voting.
I wish I could predict the medical equivalent of Goldman Sachs. I’m sure I’d be able to retire within a year!
For me, I say keep the government out of business, but at the least, insist that your politicians read what they sign.
July 22, 2009 — 10:35 am
Teri L says:
Is this where I click my heels?
All is well.
All is well.
All is well.
July 22, 2009 — 4:16 pm
Greg Dallaire says:
This post is extremely well put together. I’m familiar with the majority of the topics you bring about.
The one that really has me stirred up is still this bail out nonsense. When you take a closer look you quickly realize that the people that are in power are directly linked to Goldman Sachs and AIG hmm…. who got bailout money? While there competitor’s get left in the dust. The day companies were not allowed to fail we have more than big problems. The day when specific people in power are directly related to the companies getting billions of dollars I believe we have a much bigger problem going on.
I always wondered why more people don’t talk about the direct links between the people in power and the companies that were affected.
July 24, 2009 — 4:42 am