For those of you who tuned in last week for the PMT picks of the week I apologize for not having any posted. Sometimes even life its ownself can bump football aside and I've had to set games aside in order to deal with a couple of personal issues. I won't go into detail but understand if Smilin' Paul was called away from the computer, it was for a damn good reason. For those of you keeping score it's 18-9. If you're hanging with us you're winning money at a very respectable 67% of games played. As long as you keep the vigorish low and the bets somewhat close to consistent, you'll make money on PMT Sportsbetting this year.
It being too early for the picks of the week, I thought I would take a moment to inject some political commentary especially given the volatile economic situation right now. With respect to that situation, I would recall the words of Ronald Reagan, "Government isn't the solution, government is the problem." Folks I am taking as big a hit as anyone over this mess. Home value down, deferred compensation package drastically down, stocks losing value, retirement looking further and further away. Nevertheless, I refuse to compromise principles here. If anyone can show me in the Constitution where Congress is authorized to bail out private financial concerns, then I will happily e-mail my congresscritter to support a bailout package.
Since John McCain is running for President, I understand his unwillingness to engage in some well deserved partisan mudslinging, in order to play the part of a bipartisan maverick. I don't like it but I understand it. That being the case and since this blog attracts a readership in the dozens, I will take on the task for the McCain Campaign. People, democrats got us into this mess and now we expect leadership from a democrat controlled Congress in order to get us out?
Good Lord we deserve the leadership we've elected. Nancy Pelosi cannot cobble together enough democrats to pass the legislation for the bailout and she blames the Republicans. Hey Nan, if you had only gotten your own troops in line you would have had the votes and no need to scream about partisan Republican tactics. What you fail to understand Mrs. Pelosi is that the American people stood up en masse and decided to bombard their Congressmen. The people do not want Wall St. bailed out, though for vastly different reasons on each side of the partisan divide.
For the democrats that refused to support the bailout it came down to one of two things. Conservative yellow dog democrats, mostly in the South, were hammered by constituents who want nothing to do with the bailout based on sound fiscal and scope of government concerns. Urban democrats refused to support the bill because there was insufficient pork for radical groups like ACORN and more restrictions on business. These are the same brain dead democrats who rail about jobs going overseas but then turn around and make it even more prohibitive for American businesses to conduct bid'ness in America. In their world 2+2=5 and though we know that math isn't their long suit, neither is reading since apparently none of the lib'rul democrats has ever read the Constitution. Even if we allow them the generous concession that perhaps they HAVE read it, they have utterly failed in reading comprehension.
Republicans turned against the bill because for once someone remembered what it was they were supposed to be standing for, including limited government and fiscal responsibility. Fiscal responsibility is one of those nebulous things that Republicans don't have such a good record on of late, that democrats have never had a good record on and that the Founding Fathers deemed critical to the retention of our Republic. Mercifully at least some Republicans are finding the backbone to oppose this bill. Why in God's name is the danger so immediate that we cannot take a few days to write meaningful and thoughtful legislation, instead of ramming this package down the taxpayer's throat?
Congresscritters make something less than a $250,000 a year. I have often said that I would gladly pay them each a million a year if they would only go to Washington and do nothing. Their ill-considered actions have cost taxpayers BILLIONS over the years and this issue has all the makings of another episode. Folks, fiscal responsibility sometimes means taking your medicine. Sure we may go into recession but that is part and parcel with the American system. We have had depressions and recessions throughout our history, and no amount of government intervention, lib'rul doomsaying and socialistic legislation will prevent it. What always gets us out of such economic messes is the ingenuity of the American businessman, worker and entrepreneur. Because of the freedom of our system, initiative, free thinking and boldness are rewarded. In turn we experience good economic times.
Embracing socialism is no way to stimulate the economy. This package bears no guarantees to the taxpayer, it deadens the initiative and judgment of private enterprise and rewards overaggressive risktaking by telling bankers that no matter the poor quality of your business operation, the US taxpayer will be there to bail you out. That is no way to run a business, but then again, democrats have shown us throughout the last 100 years that liberalism is no way to run a government.
Smilin' Paul Villa U.S. Senate 2010
Proud Member of the Vast Right Wing Conspiracy and 2 SUV Family