Big Dogs House

Whose Money Is Being Lost?

Nov 16, 2011 Political

The US Government used bailout money to help General Motors and other auto companies. The stated goal was to rescue companies that are too big to fail but the reality is that the government used the money to pay off union backers while screwing over investors. We were told that a profit would be turned and that we should not worry because they are the government and they are there to help.

Looks like the estimate of making money is turning out to be a lie told to us by politicians hell bent on robbing us blind. It is not a lie to those of us who said it would not happen and to those of us who realized the lies the auto companies told when they said they paid back the money. They took stimulus money to pay back the loans…

The estimated losses in the auto bailout have risen to 23.6 BILLION dollars, 9 BILLION more than the last estimate because GM stock is not doing well.

The government has expressed its position in this way:

In its monthly report to Congress, the Treasury Department now says it expects to lose $23.6 billion, up from its previous estimate of $14.33 billion. Detroit News

Herein lies the problem. The Treasury is not going to lose any money. Let me express the sentence so it has the truth; In its monthly report to Congress, the Treasury Department now says it expects TAXPAYERS to lose $23.6 billion, up from its previous estimate of $14.33 billion.

Government seems to forget whose money this is. The money that was spent to bailout the unions and the union workers came from taxpayers. All money that government spends comes from some other entity (most of it through taxes) which means the Treasury (as is true with all government agencies) cannot lose money. All it can do is lose money that belongs to the taxpayer.

I did not agree with the Wall Street bailouts but at least those folks paid the money back (some after being FORCED to take the money in the first place). If those Occupy morons want to protest they should be marching at GM and at the union shops.

Of course they should also be protesting in DC.

We have to call these people on this kind of stuff. This has been going on for far too long in that the government acts as if it spends and loses its own money when it is in fact spending, wasting, and losing OUR money.

Cave canem!
Never surrender, never submit.

Tags: bailouts, gm, lies, moeny, pay back, taxpayers, treasury, union thugs

Taxpayers To Buffett: Get Over Yourself

Sep 24, 2010 Political

Warren Buffet, the guy who has more money than he knows what to do with, says that taxpayers need to get over their anger.

Taxpayer anger against President Barack Obama and Congress is counterproductive because policy makers took measures including deficit spending to stimulate the economy, billionaire investor Warren Buffett told CNBC.

“Sentiment has turned very sour in the last three or four or five months,” the chairman and CEO of Omaha-based Berkshire Hathaway Inc. said in an interview broadcast Thursday.

“I hope we get over it pretty soon, because it’s not productive,’’ Buffett said. “We will come back regardless of how people feel about Washington, but it is not helpful to have people as unhappy as they are about what’s going on in Washington.” Omaha.com

Perhaps Mr. Buffett, who uses our tax laws to avoid paying more in taxes, has forgotten that we the people are the government and we the taxpayers fund the government. Perhaps he thinks we should get over our anger at the way OUR money is spent but that is not a call for him to make. It is OUR money and we get to decide if we are angry at the way it is misused.

If we do not like banks and other businesses being bailed out then we have a right to be angry about it and we have every right to replace those who have gone against the will of the people.

Buffett might not realize that we have this right and perhaps he is blinded by his devotion to Obama. He backed the wrong horse and now he is chastising us for our anger.

Sorry Mr. Buffett but we the people will unleash that anger in November and we will make change you can believe in.

Nancy Pelosi would not drain the swamp so now we are going to do it for her and we are going to drain it to the bottom.

Buffett can keep his mouth shut and watch from the sidelines. If he wants, he can write a check to pay for the fiscal irresponsibility though he has benefited from it since his backing of Goldman Sachs was repaid after taxpayers bailed the company out.

So taxpayers to Buffett: Get over yourself. You are not that important and have no influence among the people. Stick to keeping your nose up Obama’s rear as you seem to like the view from there.

Cave Canem!
Never surrender, never submit.

Tags: anger, bailouts, goldman sachs, warren buffett

Ford Refuses Bailout Money, Makes Profit

Jan 28, 2010 Political

Ford Motor Company was the only US big three auto maker to trun down the government’s offer of a bailout. The company was in financial trouble just as Chrysler and GM were but decided against taking taxpayer money.

GM and Chrysler took the money and their companies became government property with labor unions owning part of them. Neither has shown a profit and they both continue to bleed money. It is hard to see how they will survive and how taxpayers will ever get their money back (well, the banks will have to pay for it with a fee).

Ford showed a profit of $2.7 billion, its first annual profit in four years.

The company took action in the tough market and worked on a business plan that allowed it to make money, on its own and without politicians, (few of whom have business experience) running the show.

This is what happens when the free market is allowed to work. Ford would have failed on its own or succeeded on its own and that is how it should be. No business is too big to fail.

I don’t think that Congress will catch on and neither will the progressives because they do not care about success, they care about control.

I love my Jeep but will not buy another. I will not buy a vehicle from a company that took my tax dollars and I really don’t care if they go belly up. I will buy from a company that was responsible and did not take tax dollars.

Looking at the financial status of the big three, it looks like I am not the only one who feels that way.

Ford makes some nice SUVs…

Tags: bailouts, chrysler, ford, gm, government, taxpayers, unions