Wednesday, December 12, 2007

Bush Screws Nations Children Again

This man truly is a nasty piece of dirt.
President Bush vetoed legislation Wednesday that would have expanded government-provided health insurance for children, his second slap-down of a bipartisan effort in Congress to dramatically increase funding for the popular program.

In a statement notifying Congress of his decision, Bush said the bill was unacceptable because — like the first one — it allows adults into the program, would cover people in families with incomes above the U.S. median and raises taxes.

"This bill does not put poor children first, and it moves our country's health care system in the wrong direction," Bush's statement said. "Ultimately, our nation's goal should be to move children who have no health insurance to private coverage, not to move children who already have private health insurance to government coverage."
There is always enough money for war and tax cuts but expanded childrens health programs are unaffordable. Has this fool ever priced health care? A family of four making $75,000 and living in NY could not afford private health care.

This man makes me sick to my stomach. January 2009 can not come soon enough.

Democrats Cave Again

It really is time for a third political party.
Democratic lawmakers and staffers privately say they're closing in on a broad budget deal that would give President Bush as much as $70 billion in new war funding.

The deal would lack a key provision Democrats had attached to previous funding bills calling for most U.S. troops to come home from Iraq by the end of 2008, which would be a significant legislative victory for Bush.

Democrats admit such a move would be highly controversial within their own party. Coming just weeks after House Speaker Nancy Pelosi, D-California, vowed the White House would not get another dollar in war money this year, it would further antagonize the liberal base of the party, which has become frustrated with the congressional leadership's failure to push back on Bush's Iraq policy.
I don't understand why the Democrats constantly cave into this fool. His approval rating is 28% while the Democratically controlled Congress is even less. Don't they realize it is so low because they are seen as useless wimps.

It is time for a third party in this country. One that represents the good of the middle and lower classes. It is really sad to say that the best party for the future of this country right now is the Democrats. What does that say for the Republicans and the political process in this country when our best hope is a party of scared fools who can't stand up to the most unpopular and worthless President we have had in our history?

Monday, December 10, 2007

UBS To Write Down Another $10 Billion

If you think the subprime mess is over, think again.
Swiss banking giant UBS AG said Monday it will write off a further $10 billion on losses in the U.S. subprime lending market and will raise capital by selling shares to Singapore and an unnamed investor in the Middle East.
This is basically the same scenario as Citibank which also sought funds from the Middle East. The worldwide financial system is becoming more and more dependent on funds from the most volatile area in the world where human rights take a back seat to fundamentalists.

It is funds from this area of the world that finance most of the terrorist groups now growing worldwide. Is it really smart to sell off our financial systems to these same people?

This is what happens when greed and stupidity meet in the financial marketplace. The subprime mortgage debacle now has national security implications. This is all the result of a lack of oversight. The Bush administration thought industry should police itself. We all see how that has worked out.

I have a friend who was recently employed at UBS but was terminated as a result of these huge losses. That is the human cost of this greed and arrogance but those at the top will walk out with millions while those like my friend will struggle to make ends meet.

That is current day America. It is time for a real change and it can not happen without citizen participation. I predict the economy will become the number one issue in the 2008 election as the pain and suffering around this subprime disater grows.