Everyone is worried about the economy, but here’s something to consider.  After the stock market crash of 1929, most economists agree that raising taxes and killing free trade through Smoot-Hawley deepened the depression.

What does Obama want to do when he takes office?  Restrict trade, which they stylishly refer to as “fair trade” and raise taxes.  In fact, Obama couldn’t produce one program he’d be forced to cut given the current economic climate in the last debate.  So, if you want a depression instead of a recession, vote Obama.

Better yet, sign this petition to
Drill Here, Drill now!

House Democrats call for nationalization of refineries

House Democrats responded to President’s Bush’s call for Congress to lift the moratorium on offshore drilling. This was at an on-camera press conference fed back live.

Among other things, the Democrats called for the government to own refineries so it could better control the flow of the oil supply.

This from the people who fix your bridges and invest your social security money, Oh boy, health care too! Well, they do graft expertly.

They also reasserted that the reason the Appropriations Committee markup (where the vote on the amendment to lift the ban) was cancelled so they could focus on preparing the supplemental Iraq spending bill for tomorrow.

Phones have been ringing non-stop telling these bozos to drill right through the furry critter’s head and get our oil.

At an off-camera briefing, House Majority Leader Steny Hoyer (D-MD) said the same. And a senior Republican House Appropriations Committee aide adds that “there were multiple reasons for the postponement” including discussion on the supplemental. But the aide said there was the thought that Democrats may wish to avoid a debate today on energy amendments.

Here are the highlights from briefing

Rep. Maurice Hinchey (D-NY), member of the House Appropriations Committee and one of the most-ardent opponents of off-shore drilling
“We (the government) should own the refineries. Then we can control how much gets out into the market.”

if you vote for me I’ll give you oil.

Hinchey on why they postponed the Appropriations markup

He had to confer with Fidel and Hugo.

I think there aren’t enough votes for the Peterson amendment. It wasn’t taken up (the Interior spending bill) because of the omnibus Appropriations bill. That’s the main focus of the Appropriations Committee. Rep. Rahm Emanuel (D-IL)

Hey Rahm, then go on record voting for higher gas prices.

They (Republicans) have a one-trick pony approach. Rep. Nick Rahall (D-WV), Chairman of the Resources Committee (In this circus the Dems are the clowns)

You cannot drill your way out of this. Rep. Ed Markey (D-MA), chairman of the House Select Committee on Global Warming

“The White House has become a ventriloquist for the oil and gas energy. The finger should be directed back at them. They had plenty of opportunity to (arrange an energy policy). But they did not put an energy policy in place.” Markey

And you did?

The governors of California and the governors of Florida are going to scream this is not the way to go. Hinchey

Let them, I don’t mind.

There are a lot of arrows in the President’s quiver that he decided not use. Hinchey

I think it’s unlawful to shoot congress critters with a bow; why I don’t know.

“What we do has to be in the interest of the American people. Not major corporations.” Emanuel

The only thing of interest to congress is staying at the public trough.

“It’s like when I talk to my kids. Before we’re going to talk about dessert, we’ve got to talk about what’s on your plate. I hope I’m a little more successful with the oil industry than I am with my kids.” Markey

I hope not, unlike your kids the oil industry is productive.

There are so many red herrings out there they might as well construct an aquarium.

From House Majority Leader Steny Hoyer (D-MD) when I asked him if the markup was canceled because of potential Democratic defections on the Peterson amendment. (emphasis added)

“No. The reason the markups aren’t going through is because we’re trying to get the supplemental on the floor tomorrow.”

Ultimate BS! The phones and faxes have been non-stop on this and 287(g) the law for local law enforcement funding on illegal immigration arrests.

And from a Senior Republican House Appropriations Aide.

“There were multiple reasons for the postponement including ongoing negotiations on the (supplemental) and a (Democratic) wish to avoid debate and votes on the energy amendments.

I don’t think any of the idiots in DC understand what’s coming. Take P.J. O’Rourke’s advice. “Never let the people with money and the people with guns, be the same people!”

No matter who’s elected president,
the debt party’s over

Talk about Enron type accounting, our federal books are well done, closer to charred. Here’s some of the hidden bills:

• Supplemental financing bills, outside the budget
• No veterans health-care estimates included
• No equipment replacement costs to restore our military
• Nothing about increases in state and homeland security

The real price is $3 trillion; and growing like Topsy, add to the outlay these goodies.

• Interest on the ever-increasing $9.3 trillion federal debt
• Damage to our credibility from a weak dollar
• Out-of-control inflation in energy

Let us add some more items such as bailouts for mortgage writers and lenders, putting the taxpayers on the hook by nationalizing the banking system and all the unfunded entitlement programs that congress won’t cut. The worst are:

Welfare for Wall Street
J.P. Morgan Chase buys Bear Stern’s equity. Taxpayers get the junk debt totaling billions of dollars. With fresh money it’s the samo-samo speculation Monte game. Why not, they’re playing with your money.

A Third World Financial Industry, Nationalized Banking
The sports on Wall Street played fast and loose, inflating bad debt values and embroidering profits. The Fed’s allowing them to gloss over losses to prevent alarm; talk about hiding a sunrise.

Under and unfunded Social and Entitlement Programs, the Untouchables
Medicare and Social Security entitlements soar to $50 trillion to $65 trillion within a generation. Entitlements will consume the entire budget in a generation. Note how concerned Congress is about this!

Pork and the Lobbying Machine, DC’s biggest busiess
35,000 lobbyists will loiter right after the 2009-2012 first term of the next president, screaming for government largess. The Democrats need them. McCain pledges to veto earmarks, look at his campaign staff, the altruistic ones that are working for “gratis.” All sorts of special interest lobbyists “donating” their time.

Bush’s Free Market Policies
“We’re on top of it,” Bush stated in his New York Economics Club speech in March. Probably like Spitzer got on top.

Roads, Bridges, Water, Sewer: The Appian Way is in better shape
Right! Taxes and more taxes on fuel and real cutbacks in services.

Consumer Savings?
They don’t exist. Big TV’s to luxury vacations, welcome to Hedonist Central where there is no waiting.

Recession Reality
We’ve been dancing to a low 1% Fed rate; the tune was bubble up and flip for loot.
Who’s that knocking at the door? It is the meltdown fiddler; he stopped playing and will have his pay.
All those who pooh-poohed Gramp’s hardship tales will get to live them. Call it a repeating verbal history. Yup, you’ll repeat it.
For all the rad-chic ’60’s anti-capitalists, it couldn’t happen at a better time. Kiss your retirement good-bye!

Massive unemployment looms

China watchers are predicting a drop in the GNP growth rate this year and for the foreseeable future. Most are attributing the expected fall off this year — from last year’s official 11.4 percent, the fifth year in a row of double digit expansion — to the expected downturn in the U.S. and the world economy in general.

Even the 2007 growth rate wasn’t that high when compared with the peaks of the 1980s and 1990s, when GDP growth in some years surpassed 15 percent, coming out of the stagnation and even losses at the end of the Maoist era.

The downturn is going to be welcomed in some Chinese leadership quarters because of the fear of runaway inflation from an overheated economy — now fed by food shortages and the impact of the worst winter in 50 years. [snip]

Hmmmm, I wonder if they’ll want to sell some of our bonds and dollars? What do you think that will do to our economy.