Infrastructure does not create Prosperity, Liberty does

Offered in response to Anthony Sokolow's defense of Obama's deception on "infrastructure":

Infrastructure -- Government spending -- does not create Prosperity, Liberty does.

You write as if Government is a god, creating ex nihilo. But it doesn't. All that Government "gives" – including infrastructure – is paid for by its citizens through either taxes, debt, or inflation.

Every dollar spent by a politician – which politician knows better than you what to do with your own wealth, Tony? – is a dollar that the one who earned it no longer has to use for his own purposes.

Having a political "elite" decide how everyone else should live is fine as long as you're part of that elite, but it's not Liberty.

Charles Krauthammer on Obama's fundamental dishonesty regarding "infrastructure" (h/t Tom):

Spoken by a man who never created or ran so much as a candy store.

And it's completely a straw man argument — as if conservatives and Republicans are arguing to disband the fire department and the police department so we can all do it individually on our own. The idea that infrastructure is necessary and good is as old as the republic. It's older than that. The Romans had the Via Appia and that wasn't exactly a new idea. And they had the sewers as well.

The question is: What do you do with the money once you build the infrastructure? You heard Obama talking about the moon shot. … in that speech. He went through a list of the great achievements that the government has done. The moon shot. Well, Obama's the guy who shut down the moon program — manned space program so that today we have to outsource our access into space. For any American astronaut who wants to go to the space station we have to pay the Russians $50 million a shot.

He spoke about the invention of the Internet, which he neglected to say was the work of Al Gore. In fact, it wasn't the government that invented it, in general, it was the Defense Department, a part of the government. And what has Obama done as he sprinkled billions of dollars on all the other departments in government? He shrunk the Defense Department and it's now looking at draconian cuts.

This is a man that spent $1 trillion [stimulus] and left not a residue. He could have, for example, done something about the electric grid. He did nothing on that. Instead he sprinkled the money on cronies, pie in the sky ideological fetishes, like solar panels and electric cars…. Money wasted, it's water on the sand. He did not leave behind residue on all that, and yet he speaks of infrastructure.

All of us want infrastructure — but real infrastructure. And leave the rest of life to the private individual and the entrepreneur.

To liberals, "freedom" and "justice" are merely buzzwords useful only for buying votes from the greedy and stealing them from the gullible

You know, if stimuli are so good for terrorist states, corporations, public employee unions, and other campaign contributors, why don't leftists just give every American citizen – and illegals, too, why discriminate? – a billion dollars?

No leftist will answer that, since then they'd have to address why politicians, corporations, thieves, the lazy, and terrorists are more deserving of American dollars than those who actually earn them.

Liberals don't believe in freedom or justice. To them, those are merely buzzwords useful only for buying votes from the greedy and stealing them from the gullible.

Even Obama's business "allies" can see the writing on the wall

It reads, "You're bankrupting the Republic."

The chairman of the Business Roundtable, an association of top corporate executives that has been President Obama's closest ally in the business community, accused the president and Democratic lawmakers Tuesday of creating an "increasingly hostile environment for investment and job creation."

Ivan G. Seidenberg, chief executive of Verizon Communications, said that Democrats in Washington are pursuing tax increases, policy changes and regulatory actions that together threaten to dampen economic growth and "harm our ability . . . to grow private-sector jobs in the U.S."

"In our judgment, we have reached a point where the negative effects of these policies are simply too significant to ignore," Seidenberg said in a lunchtime speech to the Economic Club of Washington. "By reaching into virtually every sector of economic life, government is injecting uncertainty into the marketplace and making it harder to raise capital and create new businesses."

One world leader lectures another on the importance of reducing government debt

Unfortunately, it's Angela Merkel, Chancellor of Germany, explaining how economic liberty works to B. Hussein Obama, "leader" of what used to be the most powerful economic engine in history.  It's stunning how decades of contra-constitutional government spending, borrowing, taxation, and regulation can destroy a free people.

Here's an excerpt:

Chancellor Angela Merkel championed German export strength as “the right thing” for her country, spurning President Barack Obama’s call to boost private spending as both leaders prepare for Group of 20 talks.

Merkel, addressing a business audience in Berlin today, said she told Obama in a phone call that cutting government debt is “absolutely important for us,” exposing a second point of contention ahead of the June 26-27 G-20 summit in Canada.

Reducing the budget deficit by 10 billion euros ($12 billion) per year “won’t put a brake on the world’s economic growth,” Merkel said, relating what she told Obama yesterday. Germans are more likely to spend money if they feel the government “is taking precautions” to ensure solid finances, she said.

Obama creating a second Great Depression

Never let a crisis go to waste.

Vox Day articulates clearly where our politicians' priorities lie. The FDIC is broke:

If there is one thing that has been made clear by the response of the monetary and fiscal authorities to the economic crisis, it is that they will not lift a finger to help the general public. When they could have spent millions to prevent homeowners with mortgages from falling into default and foreclosure, they instead chose to spend billions to reduce the impact of the failed mortgages on the giant zombie banks. If one looks closely at the mechanisms underlying the Homeowner Stability Initiative, the Making Home Affordable plan and the Cash for Clunkers program, one will see that they are not designed to help the homeowner or the car buyer, but rather the banks that finance the purchases.

Given recent history, it would appear to be most unwise to assume that the federal government will do much more than permit the FDIC to borrow the additional $70 billion by which its credit line was increased in May, especially should depositors become aware of the increasingly fragile state of the banking system and begin to withdraw their funds from it. Banking holidays and other restrictions on the public's ability to access its money are probably more likely than an outright bailout, especially since a bailout will cost around $225 billion merely to maintain the status quo if Meredith Whitney's calculation of 300 bank failures is correct. In any case, the ability to ask permission to borrow from an unpredictable institution already $11.7 trillion in debt and expecting a further $9 trillion in deficits is not insurance nor can it reasonably be described as a guarantee of any kind.

24 TRILLION

Obama and his minions are bankrupting and disarming the nation.

The constitutional law professor and his co-conspirators are expert at violating the Document they swore to defend, pushing us hard into Socialism:

They broke the economy under Bush 43 by sabotaging home ownership.

They've taken control of financial institutions.

They've taken control of domestic auto production.

They're trying to drive us into the Stone Age with Cap-and-Trade.

They're about to take control of your medical care.

Now, we the American taxpayer -- and our descendants into perpetuity -- are responsible for (potentially) at least $24 trillion.

And he and his fellow fascists work to silence dissent in media and online.

Freedom of assembly and the Right to bear arms are also under attack.

Obama can apologize to Islam, the most malevolent, vile, and perverse ideology in human history; let him apologize to the American people.

He can bow to the Islamic tyrant of Saudi Arabia; let him bow to the American people by obeying -- not "empathizing with" (usurping) -- our Constitution.

Make the thieves in Congress and the White House pay back every cent they've stolen from the American people.

Demand their immediate resignation -- or impeach -- every greedy and incompetent politician who by commission or omission have led us to the precipice.

And while we're at it, enforce our borders, abolish the Federal Reserve, the income, death, and all other oppressive taxes, all entitlement programs, and every other anti-Liberty law, code, provision, addendum, and executive order thrust upon us over the last century.

The crisis is upon us. Restore Liberty.

The fox has ravaged the chickens and now wants Absolute Power over the henhouse, no questions asked

They came to bail-out the airlines, and I remained silent. They came to bail-out the automakers, and I looked the other way. They came to bail-out the banks, and I whimpered in a corner.

When the time came for me, there was no one left to bail me out.

Our nation's growing economic feudalism has harmed Americans for decades.

Today, the situation is worse than ever.

It's bad enough that our paper money has been only paper for so long. Add to that perpetually-increasing taxes and inflation, and the American taxpayer is oppressed. We are becoming little more than serfs working the land for our elitist political and economic overlords.

Stalin would be pleased.

Consider the latest real estate mortgage fiasco. Rather than letting lenders and borrowers suffer the natural consequences of their greed and stupidity (and the Liberal pressure to approve loans to people to whom they would not lend a dollar), the American government is forcing us free men -- at the point of a gun -- to pay for their foolishness.

Privatizing profits and socializing risk and loss, the American taxpayer must now finance corrupt CEO and Democratic operatives' bonuses. Where's the political party claiming to defend Liberty by defending us against government?

It's working feverishly to bind fast our chains.

The Muslim Brotherhood exhorts its coreligionists to:

“understand that their work in America is a kind of grand Jihad in eliminating and destroying the Western civilization from within and ‘sabotaging’ its miserable house by their hands and the hands of the believers so that it is eliminated and Allah’s religion is made victorious over all other religions.”

That's from "An Explanatory Memorandum on the General Strategic Goal for the Brotherhood in North America," a 1991 presentation by Muslim Brotherhood operative Mohamed Akram, by way of Jihad Watch. Among the Brotherhood's members and friends are the Islamic Society of North America (ISNA) and the North American Islamic Trust (NAIT).

By the time our politicians are done, they're won't be anything left for Muslims to destroy.

That'll show 'em!

I've read of rumors that Russia and Muslim Oil want to make their currencies based on oil and gold the default for global commerce. China owns ever-increasing chunks of America.

Russia, China, and the global jihad will take advantage of this treachery.

From Spiegel Online:

The most breathtaking aspect about this week s crisis though is that the life raft -- which Washington had only previously used to bail out the mortgage giants Fannie Mae and Freddie Mac -- is being handed out by a government whose party usually fights against any form of government intervention. The policy is anchored in its party platform.

"I fear the government has passed the point of no return" financial historian Ron Chernow told the New York Times. We have the irony of a free-market administration doing things that the most liberal Democratic administration would never have been doing in its wildest dreams.

Michelle Malkin has much more on this treasonous undermining of the American Republic:

The battle over the Mother of All Bailouts is a battle for the soul of the Republican Party. A few fiscal conservatives like GOP Rep. Mike Pence are daring to stand up against this disaster. And where is GOP Minority Leader John Boehner? Chastising the Right not to oppose it because “This is not a time for ideological purity.”

What?! When is there a better time for conservative ideological purity than now — now that we face the most massive taxpayer rescue in American history spearheaded by a phenomenally wrong-headed, ChiCom-promoting, liberal Democrat-installing, Gore global warming alarmist?

Hell, yes, this is a time for “ideological purity.”

Ideological principle.

Ideological courage.

Here is GOP Rep. Mike Pence’s full statement opposing the bailout sent out over the weekend:

PENCE OPPOSES BUSH ADMINISTRATION BAILOUT PLAN

“There are no easy answers but there are alternatives to massive government spending”

WASHINGTON, DC—U.S. Congressman Mike Pence released the following statement in response to the Bush Administration’s plan to bail out the financial market:

“Our financial markets are in turmoil and the Administration was right to call for decisive action to prevent further harm to our economy but nationalizing every bad mortgage in America is not the answer.

“The Administration’s request amounts to the largest corporate bailout in American history. Congress should act, but should act in a way that protects the integrity of our free market and protects the American taxpayer from more debt and higher taxes.

“To have the freedom to succeed, we must preserve the freedom to fail. Any solution to our present crisis must preserve our essential economic freedom.

“Congress should delay consideration of any legislation until the facts and competing solutions can be fully debated, consider alternatives to massive government spending and figure out how to pay for the solution through budget cuts and reform instead of more debt or taxes.

“Congress must not hastily embrace a cure that may do more harm to our economy than the disease of bad debt

“Before any bailout is enacted, Congress must set itself on an unalterable path to truly overhaul these Government Sponsored Enterprises from the top down and hold those accountable, in and out of government, who drove them, and our financial sector, to the brink of bankruptcy. Some important work is already underway, but additional reforms are needed. Even now, we read that the Treasury Department is using Fannie Mae and Freddie Mac to purchase many of these bad mortgages while it seeks the authority to purchase them all. Congress should also ensure that these GSEs can no longer pose a systemic risk to the entire economy while placing them on a brisk schedule to be fully private companies with no guarantee of taxpayer support in times of trouble. And Congress should immediately repeal the Affordable Housing Fund, which will actually siphon off capital from these under-capitalized entities, in order to fund left-wing, third party organizations.

“Next, Congress must consider all available options to put our nation’s economy back on its feet. There are no easy answers but there are alternatives to massive government spending.

“Indexing the Capital Gains tax to inflation (which the Treasury Department can do without any help from Congress), or suspending it for one year, would release an enormous amount of capitol into our economy. Passing an energy bill that lessens the price of gasoline at the pump through more domestic drilling, wind, solar, nuclear and conservation would bring relief to family budgets and create American jobs. Establishing an entitlement reform commission to develop bipartisan solutions to the crushing weight of entitlements would strengthen the American dollar.

“These and other alternatives to a massive federal bailout must be fully considered and debated before Congress acts.

“Finally, any new expenditure of taxpayer dollars should be paid for with fiscal discipline and reform. If Congress decides to spend nearly 1 trillion dollars on a corporate bailout, it must find budget savings to prevent that cost from being passed along to the American people.

“We must address this crisis with forethought, creativity and fiscal discipline. Protecting the American taxpayer from higher debt and taxes and renewing our belief in the power of the free market must be our guide.”

End all entitlements, corporate and private.

Here Michelle exposes the voracious Henry Paulson, who one week ago refused a bailout for Lehman Brothers and followed that immediately by offering a trillion of our dollars to "stabilize" this mess. He's a Democratic operative owned by the Chinese who appoints John Kerry and Barack Hussein Obama's henchmen (yet President Bush chose him!):

Both parties in Washington are about to screw us over on an unprecedented scale. They are threatening us with fiscal apocalypse if we don’t fork over $700 billion to Treasury Secretary Henry Paulson and allow him to dole it out to whomever he chooses in whatever amount he chooses — without public input or recourse. They are rushing like mad to cram this Mother of All Bailouts down our throats in the next 72-96 hours. And right there in the text of the proposal is this naked power grab: “Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency.”

You know what Americans used to do to tyrants.

Now, we vote for them.

Tom Tancredo calls for common sense in dealing with Sharia here in America. Mike Pence calls for economic Liberty (and sanity).

Since both positions defend our God-given, unalienable rights, is there any chance Sarah Palin and her running mate will endorse these positions?

Americans continue to support politicians who rob them blind

Politicians use rhetoric about defending "average" Americans while they make themselves rich -- and protect their wealthy friends from their own poor choices -- on the backs of taxpayers.

Barack Hussein Obama and Chris Dodd put the lie to the story that they're for the "little guy." They're looking out for themselves.

On Obama and Dodd, by way of Michelle Malkin.

First, the man who would be president:

Today, The Washington Post Reported That Obama Received A Sweetheart Mortgage Deal For His Chicago Mansion:

Obama Received A Discounted Rate On His $1.32 Million Mortgage For His Georgian Mansion In Chicago. “Shortly after joining the U.S. Senate and while enjoying a surge in income, Barack Obama bought a $1.65 million restored Georgian mansion in an upscale Chicago neighborhood. To finance the purchase, he secured a $1.32 million loan from Northern Trust in Illinois. The freshman Democratic senator received a discount. He locked in an interest rate of 5.625 percent on the 30-year fixed-rate mortgage, below the average for such loans at the time in Chicago.” (Joe Stephens, “Obama Got Discount On Home Loan,” The Washington Post, 7/2/08)

* “The Loan Was Unusually Large, Known In Banker Lingo As A ‘Super Super Jumbo.’ Obama Paid No Origination Fee Or Discount Points, As Some Consumers Do To Reduce Their Interest Rates.” (Joe Stephens, “Obama Got Discount On Home Loan,” The Washington Post, 7/2/08)

Obama’s Discounted Rate Could Have Saved Him More Than $300 Per Month. “Compared with the average terms offered at the time in Chicago, Obama’s rate could have saved him more than $300 per month.” (Joe Stephens, “Obama Got Discount On Home Loan,” The Washington Post, 7/2/08)

The Obamas Secured Their Discounted Home Loan Despite The Fact That They Had “No Prior Relationship With Northern Trust When They Applied For The Loan.” “The Obamas had no prior relationship with Northern Trust when they applied for the loan. They received an oral commitment on Feb. 4, 2005, and locked in the rate of 5.625 percent, the campaign said. On that date, HSH data show, the average rate in Chicago for a 30-year fixed-rate jumbo loan with no points was about 5.94 percent.” (Joe Stephens, “Obama Got Discount On Home Loan,” The Washington Post, 7/2/08)

NOTE: Obama Also Has Received $71,000 In Campaign Contributions From Northern Trust Employees. “Since 1990, Northern Trust employees have donated more than $739,000 to federal campaigns, including $71,000 to Obama, according to the Center for Responsive Politics.” (Joe Stephens, “Obama Got Discount On Home Loan,” The Washington Post, 7/2/08)

FLASHBACK: Obama Paid $300,000 Less Than The Asking Price For His Mansion, While Tony Rezko’s Wife Paid Full Price For A Vacant Lot Next Door On The Very Same Day. “Two years ago, Obama bought a mansion on the South Side, in the Kenwood neighborhood, from a doctor. On the same day, [Antoin 'Tony'] Rezko’s wife, Rita Rezko, bought the vacant lot next door from the same seller. The doctor had listed the properties for sale together. He sold the house to Obama for $300,000 below the asking price. The doctor got his asking price on the lot from Rezko’s wife.” (Tim Novak, “Obama And His Rezko Ties,” Chicago Sun-Times, 4/23/07)

* The Seller Of Obama’s Home “Wanted To Sell Both Properties At The Same Time.” “On the same day Obama closed on his house, Rezko’s wife bought the adjacent empty lot, meeting the condition of the seller who wanted to sell both properties at the same time.” (Brian Ross and Rhonda Schwartz, “The Rezko Connection,” ABC News’ “The Blotter” Blog, abcnews.go.com, 1/10/08)

* Obama Later Purchased A Portion Of Rezko’s Land For $104,500; It Was Valued At $40,500. “Later, the Obamas bought a 10-foot-by-150-foot piece of the lot for $104,500. An appraisal put the value of the strip at $40,500, a spokesman said, but Obama considered it fair to pay one-sixth of the original price for one-sixth of the lot.” (Peter Slevin, “Obama Says He Regrets Land Deal With Fundraiser,” The Washington Post, 12/17/06)

Jim Johnson, A Former CEO Of Fannie Mae And Former Top Campaign Adviser, Also Received Sweetheart Housing Deal:

Obama’s Former Top Adviser, Jim Johnson, Resigned “After His Favorable Countrywide Loan Became Public.” “Within Obama’s presidential campaign organization, former Fannie Mae chief executive James A. Johnson resigned abruptly as head of the vice presidential search committee after his favorable Countrywide loan became public.” (Joe Stephens, “Obama Got Discount On Home Loan,” The Washington Post, 7/2/08)

Johnson Received Special Loans From Countrywide Financial CEO Angelo Mozilo. “Countrywide Financial Corp. makes mortgage loans through a vast network of offices, brokers and call centers. But a few customers have gotten their loans a special way: through Countrywide Chief Executive Angelo Mozilo. These borrowers, known internally as ‘friends of Angelo’ or FoA, include two former CEOs of Fannie Mae, the biggest buyer of Countrywide’s mortgages, say people familiar with the matter. One was James Johnson, a longtime Democratic Party power and an adviser to Sen. Barack Obama’s campaign, who this past week was named to a panel that is vetting running-mate possibilities for the presumed nominee.” (Glenn R. Simpson and James R. Hagerty, “Countrywide Friends Got Good Loans,” The Wall Street Journal, 6/7/08)

* While CEO Of Fannie Mae, Johnson And Mozilo Worked Closely And Maintained A “Close Friendship.” “From 1991 to 1998, Mr. Johnson served as CEO of the Federal National Mortgage Association, also known as Fannie Mae, which worked closely with Countrywide, one of the nation’s leading lenders and loan servicing companies. In 1996, Mr. Johnson named Mr. Mozilo as chairman of Fannie Mae’s national advisory council. A 1999 article in the American Banker said the two men had a ‘close friendship.’” (Josh Gerstein, “Top Talent Scout For Obama Tied To Subprime Lender,” The New York Sun, 6/9/08)

“Property Records Show Mr. Johnson Has Received More Than $7 Million In Loans From Countrywide Since 1998, The First Coming In The Waning Days Of His Fannie Mae Tenure.” (Glenn R. Simpson and James R. Hagerty, “Countrywide Friends Got Good Loans,” The Wall Street Journal, 6/7/08)

* At Least Two Of The Mortgages Were At Rates “Below Market Averages.” “The Journal said at least two of the mortgages, among a series of loans made available to people Countrywide officials called ‘friends of Angelo,’ were at rates below market averages, though it is difficult to predict a market rate without access to nonpublic information about a borrower’s credit history and other factors that can reduce interest charges on a loan.” (Josh Gerstein, “Top Talent Scout For Obama Tied To Subprime Lender,” The New York Sun, 6/9/08)

NOTE: Penny Pritzker, Obama’s National Finance Chair And Campaign Bundler, Owned A Failed Bank That Specialized In Subprime Lending:

Penny Pritzker Is The National Finance Chairman For Barack Obama. “And Penny Pritzker, a Chicago philanthropist, serves as Mr. Obama’s national finance chairman even as her brother, Jay Robert, holds fund-raisers across town for Mrs. Clinton.” (Jodi Kantor, “In Democratic Families, Politics Makes For Estranged Bedfellows,” The New York Times, 2/4/08)

* Pritzker Is A Bundler For Obama’s Presidential Campaign And Has Committed To Raising Over $200,000. (Obama For America Website, www.barackobama.com, Accessed 5/19 /08)

The Pritzker Family Co-Owned Superior Bank FSB. “Ms. Pritzker, who declined to be interviewed, has confronted other challenges, including the 2001 collapse of Superior Bank FSB, which the Pritzker family co-owned, resulting in a $460-million payment to federal regulators, and a rift over family assets that settled out of court in 2005. She oversees the Pritzker family’s non-hotel real estate interests and chairs its TransUnion LLC credit bureau.” (Steven R. Strahler, “Penny Pritzker,” Chicago Crain’s Business, 5/7/07)

“Superior Bank Specialized In ‘Sub-Prime Lending,’ Which Is Making Loans To Underserved Borrowers, Who Are Often Poor Minorities.” (Kathleen Day, “Regulators Probe Bank Loan To Co-Owner,” The Washington Post, 7/31/01)

On Dodd:

Two weeks ago, the Banking Committee chairman was busy introducing a $300 billion rescue package for the subprime mortgage industry and its victims when news broke that Countywide Financial - subprime’s Enron - had given Dodd special “VIP” mortgage rates on homes in Connecticut and Washington, saving him $75,000 over the life of the mortgages. Dodd’s initial reaction was wounded outrage. How could anyone think that he’d done something wrong? After it became clear he’d known he was getting VIP handling (on orders from Angelo Mozilo, the chairman-founder of Countrywide), Dodd backtracked, insisting he hadn’t realized what “VIP” meant.

With 8,000 US families facing foreclosure daily, the $200 per month Dodd’s been saving doesn’t sound so small - and Mozilo’s own toxic reputation, especially after he admitted pocketing $142 million last year just as Countrywide started sinking like the Titanic, hasn’t helped.

Dodd hasn’t been the only one caught up in the scandal. Senator Kent Conrad, chairman of the Senate Budget Committee, also got Countrywide’s VIP treatment - as did former Clinton-era heavyweights Donna Shalala, Alphonso Jackson, Richard Holbrooke, and Jim Johnson. Conrad quickly mailed off a check for the estimated value of his VIP treatment to Habitat for Humanity, and announced he was taking out new mortgages. Shalala, Jackson, and Johnson meanwhile have ducked the press - though Johnson, who was heading the search for Obama’s vice presidential candidate, had to hastily resign that role.

Dodd, however, keeps insisting - despite growing statewide criticism and a sharp drop in his poll ratings - that he has no plans to give up his VIP benefits, because he has done nothing wrong.

…The $300 billion subprime rescues package Dodd is now managing may be in trouble, with critics tarring it as the “Dodd Countrywide bill.” We voters in turn need to do a little remembering ourselves here, because this bill is the latest “rescue package” in a long ignominious history that includes corporate bailouts such as the Chrysler and Lockheed salvage operations; the savings and loan rescue; the two Mexican rescues, the Asian rescue; the airline rescue after 9/11; the ongoing bailout of agribusiness; and lest we forget, the bailout of Wall Street and Bear Stearns just two months ago.

A chief beneficiary of the Dodd bill is Bank of America, which has just bought Countrywide. If Dodd’s bill passes, taxpayers will take on much of the Bank of America’s risk of further portfolio default - a move worth billions to the bank.

Washington desperately needs to stanch the forced liquidation of millions of American homeowners. Yet once again, the benefits of its rescue efforts will accrue unequally - stacked heavily in favor of the wealthy and the powerful - because in American politics, as in Orwell’s “1984,” some are more equal than others.

Especially the VIPs.