They Can't be Serious?

A recent article on CNN claims that GM and Chrysler are asking the government for an additional 26.1 Billion dollars to help bail out their companies. "Why would they do that?", you might ask. According to GM and Chrysler, there is a "worsening demand for their cars and trucks." So we are going to help rescue a company who makes a product that no one wants to buy anymore. How stupid is that? Why don't we give money to companies where people want to buy their products.

Additionally both these companies want "to cut 50,000 jobs worldwide by the end of the year. GM said it plans to close five more plants in the next few years." I thought we were giving these companies more money to save jobs not lay people off. What a bunch of greedy, greedy people and what a stupid, stupid government would give that kind of management more money.

Ohhhh, I am so mad.

A Response Letter from Sen. John Cornyn (R) Texas

This letter was written in response to A Letter to My Elected Officials about the government's plan to help the economy.

Dear Mr. English:

Thank you for contacting me about the current financial crisis. I appreciate having the benefit of your comments on this matter. I, like many Texans, am angry and frustrated that the United States is in the current financial crisis. As a strong supporter of the free market, I am opposed to unnecessary government intervention in the economy. As you know, the federal government has recently taken several steps to ensure that our financial system remains stable for the growth of our economy. Any actions by the federal government must be temporary and limited. Furthermore, any taxpayer money that is used to support our troubled economy must be subject to strict oversight and be repaid—in full—to the American people. Hard-working, financially responsible Texans should not have to pay for the irresponsible behavior of corporate executives who abused their positions. These executives must now be held fully accountable under the law.

The current financial crisis was caused, to a large extent, by Fannie Mae and Freddie Mac—two government sponsored enterprises that played a central role in the much maligned mortgage market by guaranteeing loans to individuals who could not pay them back. Together, these two agencies own or guarantee nearly half of the nation’s $12 trillion mortgage market. I have long advocated that Congress reform both Fannie Mae and Freddie Mac in an effort to protect taxpayers. In 2006, I urged the Senate Majority Leader to bring reform legislation before the full Senate after reports that Fannie Mae intentionally overstated its earnings by $10.6 billion. This reform legislation would have increased oversight and taken steps to protect taxpayers from the risk that Fannie Mae and Freddie Mac posed to our economy. Regrettably, the Senate did not consider these reforms because special interest groups lobbied their Congressional allies to prevent this legislation from being debated.

Furthermore, risky business practices by irresponsible financial institutions have caused great stress on our credit market, limiting the amount of credit available to both individuals and businesses. America’s system of credit is the lifeblood of our economy as it affects thousands of purchases and investments made in our country each day. Without access to credit, small businesses cannot pay their employees and working families cannot receive the loans necessary to send their children to college or purchase a new home or car. It is critical for our economy that the financial crisis be prevented from spreading to families and businesses across Texas which would result in many Texans losing their jobs, diminished college funds for their children, and a loss of hard-earned retirement savings.

Finally, it is imperative that all parties associated with the current financial crisis are aggressively investigated and that any corporate executives found to be involved in criminal activities are swiftly prosecuted. I intend to ensure that a thorough criminal investigation is conducted and that those responsible for violating any criminal laws of the United States are held accountable. As such, I have called on the Attorney General to begin a criminal investigation of executives at Fannie Mae and Freddie Mac. It is because of their poor—and possibly criminal—business practices that American taxpayers and our nation’s economy are in jeopardy. Soon after the Attorney General received my request, the Federal Bureau of Investigation announced an investigation of Fannie Mae, Freddie Mac and multiple Wall Street financial firms.

I appreciate the opportunity to represent Texans in the United States Senate and you may be certain that I will keep your views in mind as the 110th Congress draws to a close. Thank you for taking the time to contact me.

Sincerely,
JOHN CORNYN
United States Senator517 Hart Senate Office Building
Washington, DC 20510
Tel: (202) 224-2934Fax: (202) 228-2856
http://www.cornyn.senate.gov/

Forget the Economy and Let's Hear From Google, then Watch the Vice-Presidential Debate

Enough about the economy, the government is going to bail out the "loser" companies, it doesn't matter if the American public wants them to or not!

And now a word from Google, the wonderful web-based organization that sponsors the blogspot blogs we read every day:

The founder and CEO of Google.com publicly supports GAY MARRIAGES!

You heard me...want proof...Co-founder of Google, Sergey Brin calls California's efforts to make gay marriage illegal, "chilling and discriminatory." Still don't believe me, read Mr. Brin's (which happens to be Google's Official blog site.

Now, how does one react to this? Do I switch blog accounts? Do I write ugly letters? Do I blog about it? (that's what I did first), or Do we just continue to pray for God's children who are mislead by Satan and his warped version of relationships. (that's what I did next)

That being said, be sure to watch the Vice-Presidential Debate tonight on CNN at 9:00 pm EST. I'm interested in seeing how Gov. Palin holds her own against the seasoned political veteran Sen. Biden. Who knows it may be even better than Saturday Night Live!

A Response Letter From Rep. Louie Gohmert (District 1, TX)

September 26 in the Year of our Lord 2008

Mr. Mark English
1818 Clinton Street
Longview, TX 75604-2410
Dear Mr. English,
Thank you for contacting me regarding the financial bailout. I appreciate having the benefit of your views on this issue. I am also quite grateful that you and I are so much in agreement over the problems with Secretary Paulson's proposal to create the biggest socialist extension of the United States government in it's entire history.

This is a very frustrating time here. Our capitalist, free market world is under attack by insiders who have acted out of unrestrained greed, and outsiders who want to have more government to dictate every aspect of our lives. I have sent a letter to Secretary of the Treasury Henry Paulson and Federal Reserve Chairman Ben Bernanke expressing my deep concerns over the increasing government bailouts of private sector companies. These bailouts have set a dangerous and unmistakable precedent for the federal government to always bailout the greedy or imprudent from the consequences of their own poor economic decisions. We must restore decency and consumer confidence in our market system by reinstating accountability and consequences for the officers of publicly traded corporations, by giving incentives to do the right thing, and the loss of improperly gained assets for doing the wrong things. Accountability is what keeps our markets free and makes our economy strong.

I have told Sec. Paulson that I will not accept a socialist solution to this crisis. Some of my solutions include having the mortgage-based securities packaged so that others than OPEC can buy them and service them. Also, requiring officers of the failed financial institutions to have their millions brought back to be part of the employee pension fund and to address indebtedness under circumstances in which they caused the insolvency I have considered. I have proposed giving banks the option of carrying FDIC insurance on its deposits of $100,000 or $1,000,000, at the bank's choice. Furthermore, I have thought about providing substantial tax incentives to purchase the mortgage-based securities so taxpayers don't have a new bureaucracy that does. Potentially, we could also have a form of FDIC type insurance on the security assets that are purchased by the private sector. There are other suggestions, but those are some of the basics.
You and so many other American taxpayers have made clear that you do not want to be bailing out Wall Street corporations. The thought of asking my constituents to pay for the gross improprieties of Wall Street corporations is abhorrent to me. Please be assured that I will continue to monitor this significant issue and will continue to work with my colleagues so that the housing and mortgage industry are more transparent, accountable, reliable and fair. If I can ever be of service, please do not hesitate to let me hear from you again. As frustrating as it may be, it never ceases to be a true honor to serve you in the United States House of Representatives.

With kindest regards, I am Very Truly Yours,

Hon. Louie Gohmert

What would you do with $700 Billion?

According to President Bush our nation is at a "financial crisis!" Even today he is planning to meet with Barack Obama, John McCain and other key Congressional leaders to attempt to hammer out a plan to "Rescue our Failing Economy!" Good Luck Guys!

Meanwhile, some non government people have come up with their own solution to our financial crisis. Here is how some people would rather see Congress spend 700 Billion Dollars! Not bad ideas in my opinion.

Just to let you know this will be my last blog about the current "crisis!" That is unless the government does something even more stupid that what it is about to do! In the meantime, it's time to buckle-up and take care of my own finances to provide for my family. We, as a nation, have survived this before, during the Great Depression, and we will do it again. Let's just hope we are still a democracy when we do.

Is Congress and the President Doing What is Best for the County?

Congressional and Presidential support to limit severance pay of the executives of the failed financial institutions is growing despite the fact that the FBI is investigating these companies for possible mortgage fraud. What gets me is why the executive of these companies are getting any kind of severance package at all? When I left my job in Gilmer, after teaching 9 years and over 1,000 children, all I got was a coffee mug and a pat on the back. Actually, I didn't even get the pat on the back. These executives are going to get Millions of dollars for doing a lousy job of investing our money and possibly committing mortgage fraud or other crimes. Why?

At least some people are getting past the panic mode; Conservative members of Congress are asking the rest of the Congress to 'Take a Breather' before passing anything irrational. At least the Democrats want to limit or cut the severance pay before attempting to "bail out" these companies.

Despite the fact that over 85% of all Americans polled, in several polls, are against the "buy out" of these companies. Congress is pushing ahead with the plan to "rescue" these failed institutions. Are they really doing what is best for our nation or are they doing what is in their own best interest?

John McCain laid out his 5 Five Fixes in his recovery plan yesterday. Barack Obama is saying that "Middle Class tax-cuts are absolutely necessary and the taxpayers of our country must be protected."

Is there a legal way I can refuse to pay my taxes to a government who has lost its mind?

A Letter to my Elected Officials

The following is a copy of a letter I mailed to my elected United States officials for my area of Texas; of course my letter was duly addressed to the specific person it was intended to go to:

Honorable Senator/U.S. Representative;

Please do not support the government buyout of the failing financial institutions across our nation!

Sir, if the government will not help a small business who is failing due to mismanagement or lack of proper income, how can you justify helping companies, who pay their executives in the millions of dollars, when they are failing? It seems to me this a great example of the rich helping the rich!

Sir, if the government of the United States itself cannot balance and live within a budget and creates a national debt of over 9 trillion dollars, how do you expect to, or even have the right to, buy out these financial institutions and expect them to function any better under government ownership?

Sir, if I were an ordinary investor I would never put my money into an agency or business who could not manage their money correctly; yet, I am forced to give my tax dollars to a government that is wasting my investment into the very nation I trust to protect my freedoms and liberties. This is not right!

Sir, if you vote for the buyout of these companies, then you are indicating to me that you continue to support the bad management practices that our government continues to follow. If this is the way you plan to spend my tax dollars, by rescuing the wealthy and letting the middle class or low income citizens suffer, then you will lose my vote in the upcoming election.

Sir, I am not a Democrat or a Republican, I cast my vote for the candidate that shows they have the best interest of their citizens at heart. I realize that you and the members of Congress are just as afraid of what might happen if these institutions go bankrupt, but isn't that what our free enterprise system of economics is all about. If these institutions fail, then isn't it time to let some of the smaller institutions step and lead, rather than continue to give my tax dollars to people who have proven they cannot spend it wisely.

Mark A. English

If you would like to write a similar letter to your elected officials in the U.S. Congress you can go to http://www.house.gov/ or http://www.senate.gov/ to find out the contact information for your elected officials. You can also contact the President via e-mail at comments@whitehouse.gov.

Huge Mistake! Big, Big Mistake! Shame on our Government!

The Government of the United States of America today is making one of the biggest mistakes in our short history! The Government is effectively taking over the banking industry of the United States. An Article in Time Magazine speaks volumes to their opinion about what is going on; they are calling us "The United States of France". News agencies are recording into history our stupid behaviors; CNN is calling it "The End of an Era", Fox News is even reporting the "Democratic Leaders of Congress are at odds over how to proceed."

In the most simple layman terms I can use, "This is an example of the Dumber leading the Dumb." How can the "People" of the United States believe that this plan to "bail out" or "rescue" our failing banking and savings institutions will work. The Government of the United States refuses to follow a budget, it prints money at will, and has misused our tax dollars to the tune of Trillions of dollars of National Debt. It has also allowed the Social Security System of the U.S. to go virtually bankrupt; and now WE THE PEOPLE are going to sit here and allow our government to take control of our largest banking and savings institutions. How stupid can our government be? I think people who cannot balance their own budget should not be telling people who cannot balance their own budgets how to balance their budgets!

According to The U.S. National Debt Clock the outstanding Public Debt as of 22 Sep 2008 at 01:49:43 PM GMT is: $9,671,385,256,340.11!
The estimated population of the United States is 304,774,222so each citizen's share of this debt is $31,732.95.
The National Debt has continued to increase an average of$1.84 billion per day since September 28, 2007!

How can our government afford to "rescue" these failing institutions when they can't even "rescue" themselves? President Bush and the Congress are planning on spending 700 Billion dollars to bail our these companies. This is absurd. Where is this money coming from? I'll tell you where, my tax dollars. Why should my tax dollars be spent to prevent the wealthy from becoming like me?

Another big question I have is, "How rich do you have to be, in order for the government to save you from going out of business?" If a smaller bank or business had this much mismanagement and started to fail, the government would let them, claiming fair competition under our free enterprise system of economics; but if you were already making, and apparently losing, billions of dollars then the government will "rescue" you! Talk about the rich taking care of the rich!

I encourage all of you to contact you U.S. Senators or Representatives and let them know what you think of their "rescue" efforts!

Keeping the Faith despite the Economy's efforts to ruin our Summer!

Why does everyone want my money? I realize other people have to make a living but do they have to take my money that I need to feed my family and transport myself to work? This economy thing has got to pick itself up soon or my family will be living our version of a great depression.

Here are a few changes that have taken place in our home as a result of our slumping economy:

Gas Budget summer 2007: $200 for two vehicles
Gas Budget summer 2008: almost $400 plus.

Food Budget for summer 2007: About $85 per week.
Food Budget for summer 2008: Almost $150 per week. (Part of that is my son is finally growing and he is hungry.)

Clothing Budget for summer 2007: about $50.00 per month
Clothing Budget for summer 2008: Zero

We may even have to cut back on the kid's allowance. We are even thinking about cancelling our subscription to Netflix. We have definitely cut back on eating out and buying any unnecessary items.

We have cut back on our traveling. We have put-off once again a possible trip to Disney World in Florida. Instead we are going to a Texas Rangers baseball game, if we can afford the gas to get there. Now that school is out for the summer, my wife and I have started to car-pool to work whenever possible.

Our church contributions have gone from putting the money in the collection plate to help paying for Youth Group activities for our kids. (it's still church related right?) Much needed home repairs, such as fixing the ceiling in our kitchen, replacing an old roof, yard work and some painting have been put on permanent hold. This of course devalues our home.

It is during times like this that our family must fully rely on God (as we should do all the time). At least we have a home to live in. At least we can still buy groceries to feed our family. We still have clothes to wear even if they are a bit to small or are going out of style.

My family and I have been in bad shape before and God has always come through for us. When we thought we couldn't pay a bill, somehow an insurance check comes in the mail or a royalty check comes in because someone out there bought my book. Just this month, we we looking at falling short of our required budget to pay some bills. Yesterday, our first commission check from YTB Travel came in the mail. It wasn't much but it paid one of our bills. My wife's car insurance also was adjusted and we are paying $7.00 less now. Once again, it is not much, but it helps. God has always taken care of us when we needed it. So even though I may sin with a little worrying, I am not afraid. I just stand in amazement at my God.

We can blame the economy on rising gas prices or the outrageous debt Americans have placed themselves into, but the bottom line is...the economy may fail us but our God will not. He will always be there to protect His children. Have faith, that all will be well.