Is It Stimulas Or Is It Socialism?

Some short years ago, almost all showed more responsibility in life. Individuals purchased homeowners and/or home renters insurance to protect against unexpected losses. Private business owners, local governments, and state governments purchased insurance to protect against their unanticipated losses. What has happened?

Today, it seems as if in event of any personal, business, local government, and/or state government unforeseen losses, everyone calls upon the Federal Government to bail them out.

It first became so overtly evident with the bailout using taxpayers’ dollars of private industry, AIG. After this government (taxpayers money) bailout, the AIG business officers took a corporate vacation junket. Then these same corporate officers needed more of (y)our taxpayer’s monies, so they again called on Capitol Hill legislators and the US Treasury. Again, the government provided AIG for many additional ten of millions of dollars. Now again, the AIG corporate officers took another vacation junket. Now, and in addition to these two government bailouts, you need to know that in the first process, AIG asked New York Governor David Paterson to allow AIG insurance reserves to use as their own assets. What I am saying is insurance reserves include (y)our cash values and/or extended life insurance coverages in your life insurance policies. What you thought in your cash value life insurance policy was your own assets, you may be wrong. Governor Patterson allowed AIG to assume insurance reserves as AIG assets. Do these assets now belong to AIG? That is still not the end. What started up with the US Treasury with an $85 million loan has now increased to $150 million of taxpayers’ debt, through the US Treasury, with the purchase of additional preferred stock. Where are the investigations on Capitol Hill?

Fannie Mae and Freddie Mac, and the US Treasury called for a $750 million bailout. Capitol Hill legislators voted No on the first round. After negotiations, the Capitol Hill approved the bailout. No legislation was included to provide for any US Senate and/or US Congressional hearings, investigation, and/or prosecutions of ethical and/or illegal activities. A short time ago, many on Capitol Hill were so aggressive in investigating and prosecuting the Enron Corporation scandal officials. Why not now? Is it because so many on Capitol Hill themselves, are tied up in the Fannie Mae and Freddie Mac scandal of scamming taxpayers’ fund? Follow the money. See where the Fannie and Freddie corporate and executive officers monies ended; right on Capitol Hill. Now many others banks have opened their hands for some of these same Federal Stimulus funds of taxpayers’ money.

Where does it end? Now, GM, Ford, and Chrysler are calling on the US Government to bail them out. Is there going to be anyone to ask AFL-CIO President John Sweeney and his Labor Union members to take a look and see if the demands by Labor Unions, because of their demanding increases in salaries, hourly pay wages, and benefits have caused this financial failure? Auto manufacturing personnel are now among the highest paid employees in US industry. Are AFL-CIO members willing to take a pay cut to save this American industry? Is President John Sweeney willing to compromise with the American taxpayers? If Organized Labor is not willing to compromise in decreased wages and benefits, American taxpayers should tell their elected officials to vote No on saving GM, Ford, and Chrysler. These manufacturing jobs should be saved, but not at all taxpayers’ expense.
What is next? When will it end? Is this just more examples of our growing Socialism in America? A stable growing economy in a free society takes individual, corporate, and government responsibility. When the younger folks, and especially when the college students graduate and go out to make a living for themselves, each will sadly learn as Thomas Jefferson said, “A government big enough to give you everything you want, is big enough to take everything you have”.