Wednesday, December 23, 2015

Buget 2016: Banks Up, Citizens down

An agreement was reached last week and signed into law. The president claims it will provide the middle class a boost while securing our nation. It took me a week to read and I don't understand many aspects of it. Yet lawmakers, supposedly read it and vote on it in less than 24 hours. This is why I concluded my opinion on the parts that I could understand: Misleading info, favoritism and outright lies. It is why I advocate in my unpublished work that bills only contain and pertain to one point with no riders, which is exactly how Congress operates. These lawmakers will only vote for a bill if they can add one of their pet projects. BS!
The president got pre-school for four year olds and a continuation of a plan between business and schools to fill needs. The president goes on to say that this builds on the 750,000 new jobs his administration has fostered in manufacturing. He doesn't mention the continuing shrinking of our manufacturing sector by another million jobs. Politicians spin the truth and mislead the public.
got funded and the president praises this budget. He fails to mention the money is a band-aid to repair roads and bridges, let alone developing a better transportation system in the air or at our ports. The Chinese lead with their pocket book. They are ready to open the new expanded Panama Canal. The president goes on saying that he closed loopholes to help pay for this aspect of the bill. He failed to mention any nor could I find exactly what loopholes were closed. By the way 65% of our roads are rated less than good condition.
spending is up at $612 billion and yet, lawmakers grumble about social security which is paid for by funds from workers(our own money) that they used for past budgets and squandered many moons ago. Funny aspect pertaining to this budget. The military also collects revenues from other agencies within the budget. So, when the president mentions cyber-security, he really is requesting more money from Congress in another bill to pay for it. One would think that this falls under defense as a internet threat, but we would be wrong. Space and NASA is another example.
remains the same, so illegals keep on coming. The president says that these people help American wages. Yeah, they lower them!
The president wants to end it. Of course he does, it limits his spending. Speaking on one side of his mouth, he claims that he is responsible for lowering our deficit to less than 3% of GDP. However, his left-side brain does not speak that the sequestration was the means to lower spending to reach under 3% of GDP.
Big Business
got early Christmas presents. Producers no longer have to label meats from country of origin.
Banks got the CFTC to allow transactions on derivatives by only forcing one-side of the party to post collateral on deposits pertaining to the deal. This gives banks more leverage which is the cause of their weakness. Now, the banks will play "piggy-back" on derivative deals. You post a deposit this time and I'll post the deposit the next time, but if we connect the deals, it will be the same money used over-an-over again. My fellow Americans and dear readers, ain't that great! This will make the unwinding of institutions so much more difficult if another crisis comes and it will. In addition, Goldman Sacks paid another fine last week as well as many of the other big banks in the past year for various crimes like rigging the Libor Rate , but they never have to admit guilt. Dear reader, these are felonies and if you or I committed one, they throw away the key. I believe that after three strikes, a company should cease to exist and be liquidated if convicted of these type of crimes, but shills are appointed to agencies to monitor them. Sell-out!
big oil got the right to sell our oil abroad. Expect shortages in the future and of course, higher prices.
Money is allocated to States for Clean Power, but no one forces these same States to use it for that purpose. More money for nuclear with crumbs for alternative energy. Sell-out!
There are many categories like Flood Insurance which is money to people who live in nice homes along the water, but are too cheap to pay for their own insurance. Sell-out!
There is money for this lobbyists and that lobbyists like the $60 million for the "continuation" of the USDA headquarters or the $206 million for the Agriculture Research Service building renovations.

Finally, I would like to remind you what President Obama said in his second-term speech:

- "We cannot win the future with government of the past."

Yeah, who needs to listen to the constitution. It was written ages ago with old ideas. I guess that is why he circumvents Congress and passes his own laws with Executive Action.
There is appropriations for Wildfire, Climate Resilient Toolkit, Drought Resilience, Crop Insurance and other emergencies, but most of the money is wasted on bureaucratic agencies, although some good is achieved through these services.

Bottom Line:
Our fellow citizens got pre-school money and a few lucky citizens will be in the right state that partners with business for future jobs. As for the rest of us, consider this: this bill only covers nine months and it calls for spending of another $1.8 trillion. Yeah, we are now talking budgets of over a trillion per year with the military expanding while our manufacturing is declining. We continue to be policemen of the world, while at home our standard of living keeps falling. We are not even in the top ten of living environments. As for our leadership and future we ask this question, is there any difference between the Democrats and Republicans? None, at least that is how I see it. Bush was the worse spending president until Obama. Both claimed spending reductions as in ratio to GDP, but both misled the fact that the deficit only expanded during their administration. Our democracy is only a vote between the rich which is ironic. Ben Franklin feared the masses would vote themselves wealth which would destroy the ability for democracy to operate.