President Obama was in California talking to the average American about the issues. On the AIG fiasco, he said,
I know a lot of you are outraged about this. I’m outraged, too. It’s hard to understand that a company that is relying on extraordinary assistance from taxpayers to keep its doors open would be paying anyone lavish bonuses. It goes against our most basic sense of what is fair and what is right. It offends our values.
It goes against our sense of what is fair? See, I thought our country works through Capitalism and in that form of economy, you want to make more money. I can understand people being “outraged” at AIG taking loans and using them for bonuses; but when else can we see this administration using the “it’s not fair” card?
Remember when, while running for President, Obama made a comment about “spreading the wealth around”? People started to get worried that their money was going to be taken away and given to those who didn’t deserve it OR they were excited that they might be getting chunks of cash from the government.
When we start talking about what’s fair and what’s not when it comes to who’s making the money, I get a little anxious.
The President continued,
So we are going to do everything we can to deal with these specific bonuses. But what’s just as important is that we make sure we don’t find ourselves in this situation again, where taxpayers are on the hook for losses in bad times and all the wealth generated in good times goes to those at the very top.
Someone please explain to me why the taxpayers are on the hook at all. I’ve noticed that our local banks aren’t hurting. Seems to be the major, global institutions that are in need of a “bail-out”.
Once again the President seems to be counter-Captialism. He doesn’t want wealth to go to the CEOs? Does he think there is another person wiser, who won’t make bad decisions? Is this the first hint that our new administration is going to put a salary cap on businesses that take the government’s money?
Seeing as he was in California, President Obama said,
One out of every ten Californians is out of work.
And that’s probably because the other nine are working in Hollywood!
You’ve got one of the highest foreclosure rates in the nation.
Because the houses there are so insanely large! And some people simply shouldn’t have been able to afford the loan.
We are not only going to make it through this crisis, we are going to come out on the other side a stronger and more prosperous nation.
When I first read this I thought of all those Get-Rich-Quick schemes we see on television. “If you act now, you’ll have so much money, you won’t know what to do with it all…”
And finally, because of the new stimulus package -
a new hospital will be built at Camp Pendleton that will give our servicemen and women the care they deserve. Over in Inglewood, the police department is planning to expand its staff by thirty people. And Orange County is hoping to add a new lane on SR-91, creating about 2,000 jobs, and easing congestion in the process.
This is the part that is actually encouraging to hear.
Let’s hope we don’t hear “It’s not fair!!!!” from our President too often.
