I received this email today and am posting it with the author's permission:
Secretary Paulson has proposed a $700 Billion Bailout of the mortgage debt by the government. This means you and me, tax payers, will pay the bill.
1) This increases the national debt by 7.3%. That's a lot, especially when we can't even afford to pay what we have now.
2) There will be interest every year on this loan on top of that number.
3) We have to pay about $2,600 plus interest per person in the US, if this passes, to bail out banks and mortgage companies that made these loans. That's over $15,000 for my family.
4) Taxes will have to go up to pay for this
5) Increasing taxes is inflationary as companies have to raise prices to pay those taxes
6) Other companies may go out of business because of this (they raise prices and people stop buying their products).
7) No one bails us out, or our businesses, if we make bad loans or investments.
I am a Davis County Delegate (10 of the past 12 years) and a Precinct Vice-chair (past 6 years). Everyone I hear running for office says they oppose higher taxes. A vote for the $700 Billion bailout is a vote for higher taxes, increase debt, inflation, and I believe we are creating a hole that will sink our country in the long run with all this debt and taxes.
As a Certified Financial Planner I am somewhat familiar with economics. This looks bad for the future in my view. Like Esau, we feel we have an immediate need and then sell our future for a mess of pottage. I don't like it.
I suggest writing your congressman and senators and expressing your thoughts on this proposed bailout. You can look them up on-line and fire off an e-mail in less than a minute. I am personally opposed to the bailout.
Brian Horne
Monday, September 22, 2008
Sunday, September 21, 2008
Welfare
This week the government announced a major bail out of banks to avoid an economic crisis. While perhaps heading off an economic crisis in the near future, the government is simply putting more debt upon the backs of American citizens. Debt that will have to be repaid one day and debt that undoubtedly will go into the hands of foreign interests (namely the Chinese who once upon a time said they had the capability of hitting Los Angeles with a nuclear weapon).
This is nothing more than welfare. Government hand outs are bad--whether it be personal or corporate. Unforunately, there is little no accountability in our society. Everyone realizes that the government will pull them out of any crisis they put themselves into.
And this is a crisis of our own creation--do not doubt that. Where once upon a time our society saved its money and worked hard to move up into bigger and better homes and a bigger and better lifestyle; today we have a sense of entitlement. We need to have it all and we have to have it all right now.
Unfortunately there were credit institutions all to willing to prey upon this entitlement mentality. Overstating incomes, loan scams and no down payment housing plans became the norm.
Now those that did it the right way. Those who worked hard to save and who bought homes they could afford are being asked to bail out those who were not responsible.
This is nothing more than welfare. Government hand outs are bad--whether it be personal or corporate. Unforunately, there is little no accountability in our society. Everyone realizes that the government will pull them out of any crisis they put themselves into.
And this is a crisis of our own creation--do not doubt that. Where once upon a time our society saved its money and worked hard to move up into bigger and better homes and a bigger and better lifestyle; today we have a sense of entitlement. We need to have it all and we have to have it all right now.
Unfortunately there were credit institutions all to willing to prey upon this entitlement mentality. Overstating incomes, loan scams and no down payment housing plans became the norm.
Now those that did it the right way. Those who worked hard to save and who bought homes they could afford are being asked to bail out those who were not responsible.
Sunday, September 7, 2008
A New Day?
If someone would have bet me that I would come out of the GOP Convention being impressed by John McCain, I would have told you that you were crazy.
Nevertheless, I will say that having been to the convention I came out impressed with McCain.
Yes his acceptance speech had some areas which concern me. Namely the increased federal government role in education, as the federal government should have no role.
I also fear that Republicans have fought who initially attacked us on 9/11. We need to make Afganistan a bigger priority. I would have loved to hear McCain in his speech say, "I will pursue Osama Bin Laden to the gates of hell, and I will personally see that he gets there."
Nevertheless, the choice of Palin and the repudiation of Republican leadership over the past eight years is encouraging.
I am encouraged that Palin fought corruption in her state party.
I am encouraged that McCain apologized for the past eight years. I for one am getting sick of Republicans blaming Clinton for everything. Yes Clinton was a rotten president, but we have been in power for eight years and controlled the Congress and White House for six of those. We have no one to blame but ourselves.
I am encouraged that McCain talked about cutting government spending. Republicans have taken on a Rockefelian approach to government. Let's see if we can outspend the Democrats. This is not what Republicans stand for.
I am encouraged by the platform. Yes there are sections with which I disagree, but the party took strong stances on abortion and immigration.
I am encouraged that the Republican Party is fighting once again. I still have the bruises from Bush I and the Dole campaigns.
Now it will be interesting to see if the rhetoric continues and if the rhetoric comes to pass once elected.
This could be a new day for the party and that is encouraging.
Nevertheless, I will say that having been to the convention I came out impressed with McCain.
Yes his acceptance speech had some areas which concern me. Namely the increased federal government role in education, as the federal government should have no role.
I also fear that Republicans have fought who initially attacked us on 9/11. We need to make Afganistan a bigger priority. I would have loved to hear McCain in his speech say, "I will pursue Osama Bin Laden to the gates of hell, and I will personally see that he gets there."
Nevertheless, the choice of Palin and the repudiation of Republican leadership over the past eight years is encouraging.
I am encouraged that Palin fought corruption in her state party.
I am encouraged that McCain apologized for the past eight years. I for one am getting sick of Republicans blaming Clinton for everything. Yes Clinton was a rotten president, but we have been in power for eight years and controlled the Congress and White House for six of those. We have no one to blame but ourselves.
I am encouraged that McCain talked about cutting government spending. Republicans have taken on a Rockefelian approach to government. Let's see if we can outspend the Democrats. This is not what Republicans stand for.
I am encouraged by the platform. Yes there are sections with which I disagree, but the party took strong stances on abortion and immigration.
I am encouraged that the Republican Party is fighting once again. I still have the bruises from Bush I and the Dole campaigns.
Now it will be interesting to see if the rhetoric continues and if the rhetoric comes to pass once elected.
This could be a new day for the party and that is encouraging.
Thursday Blog
John McCain accepted the nomination with a great speech. Listening to McCain one would not know that the Republicans have held the White House for the past eight years. In 1988 all the candidates wanted to be the next Reagan; this year it appears to be who doesn't want to be Bush.He continued the theme of cutting spending which is a welcome message to conservatives.
Our governor, Jon Huntsman Jr, nominated Sarah Palin for the vice presidency. It appears he had a touch of laryngitis as he had a rhaspy throat.Utah delegates had some fun with the balloon drop as the hit some balloons into the CNN booth. Anderson Cooper played along hitting some of the ballons back.It appears that Sarah Palin's theme song will be "Barricuda".
One of the memorable scenes for the convention was State Senate President John Valentine raising the roof.I also commend Leautinent Governor Gary Herbert for being the leading cheerleader of the delegation. He was the first to hold up signs and one could even catch him singing along a couple of times.
Our governor, Jon Huntsman Jr, nominated Sarah Palin for the vice presidency. It appears he had a touch of laryngitis as he had a rhaspy throat.Utah delegates had some fun with the balloon drop as the hit some balloons into the CNN booth. Anderson Cooper played along hitting some of the ballons back.It appears that Sarah Palin's theme song will be "Barricuda".
One of the memorable scenes for the convention was State Senate President John Valentine raising the roof.I also commend Leautinent Governor Gary Herbert for being the leading cheerleader of the delegation. He was the first to hold up signs and one could even catch him singing along a couple of times.
Thursday, September 4, 2008
Wednesday Highlights
Sarah Palin hit a home run on Wednesday night. Delegates loved he speech. She has truly energized the ticket.
In a night filled with great one liners, her attack on the media got a very spontaneous result. Delegates began to boo and heckle the media. The Maryland delegation had alternate delegates above the CNN booth and they were giving it to their convention staff.
I could see that the CNN and NBC staffs were not thrilled.
Obama earned a new nickname from convention delegates, “zero” for the number of years of leadership he has. Delegates chanted “zero” throughout the evening.
The most memorable line of the night for me was delivered by Mike Huckabee who said that Sarah Palin had gotten more votes in her mayoral election than Joe Biden had gotten for president.
Delegates also loved the speeches from Mitt Romney and Rudy Giuliani.
Tonight was also the night delegates voted. Not surprisingly McCain got nearly every vote at the convention.
One of the conflicts I personally was how to cast my vote. I had campaigned for this position under the rules which had Utah casting its votes for Romney. Keeping my promises means something to me. Our state central committee decided to reinterpret how this rule was applied at the last possible instant.
I did not agree with how this was handled and gave instructions that my vote would go to Romney if the nomination was still in play by the time it was Utah’s turn to vote. Since McCain had enough votes by the time it had gotten to Utah; my vote ultimately went to McCain.
Ultimately this rule must be changed. I hope the state party will address this immediately.
I have not been a McCain fan, but I have been happy that our party is once again talking about reducing government spending. We have to return to being the party of fiscal discipline. Let’s hope McCain delivers on his promise.
Prior to the convention we were treated to a reception by Union Pacific on one of their rail cars. It was a very nice event, which included all delegates receiving a train whistle as a keepsake. Of course, these were confiscated when we went through security at the convention site because no noise makers are allowed.
In the morning we were treated to breakfast by Governor Huntsman. The highlight of this event was being addressed by a Medal of Honor winner and a former P.O.W. in Vietnam.
Tomorrow includes breakfast with Congressman Rob Bishop and a visit to the Mall of America. The convention wraps up with John McCain’s acceptance of the nomination.
In a night filled with great one liners, her attack on the media got a very spontaneous result. Delegates began to boo and heckle the media. The Maryland delegation had alternate delegates above the CNN booth and they were giving it to their convention staff.
I could see that the CNN and NBC staffs were not thrilled.
Obama earned a new nickname from convention delegates, “zero” for the number of years of leadership he has. Delegates chanted “zero” throughout the evening.
The most memorable line of the night for me was delivered by Mike Huckabee who said that Sarah Palin had gotten more votes in her mayoral election than Joe Biden had gotten for president.
Delegates also loved the speeches from Mitt Romney and Rudy Giuliani.
Tonight was also the night delegates voted. Not surprisingly McCain got nearly every vote at the convention.
One of the conflicts I personally was how to cast my vote. I had campaigned for this position under the rules which had Utah casting its votes for Romney. Keeping my promises means something to me. Our state central committee decided to reinterpret how this rule was applied at the last possible instant.
I did not agree with how this was handled and gave instructions that my vote would go to Romney if the nomination was still in play by the time it was Utah’s turn to vote. Since McCain had enough votes by the time it had gotten to Utah; my vote ultimately went to McCain.
Ultimately this rule must be changed. I hope the state party will address this immediately.
I have not been a McCain fan, but I have been happy that our party is once again talking about reducing government spending. We have to return to being the party of fiscal discipline. Let’s hope McCain delivers on his promise.
Prior to the convention we were treated to a reception by Union Pacific on one of their rail cars. It was a very nice event, which included all delegates receiving a train whistle as a keepsake. Of course, these were confiscated when we went through security at the convention site because no noise makers are allowed.
In the morning we were treated to breakfast by Governor Huntsman. The highlight of this event was being addressed by a Medal of Honor winner and a former P.O.W. in Vietnam.
Tomorrow includes breakfast with Congressman Rob Bishop and a visit to the Mall of America. The convention wraps up with John McCain’s acceptance of the nomination.
Tuesday, September 2, 2008
Tuesday Highlights
Tuesday Highlights
The highlight of the day was a lunch sponsored by Senator Orin Hatch which featured a performance by Lee Greenwood. Greenwood performed a number of songs for the delegates with his signature song “God Bless the USA” ending the performance. His performance put in perspective why we as delegates are here in Minneapolis by reminding us of the greatness of this country.
Prior to lunch with Greenwood (which also featured a short speech from Senate Minority Leader Mitch McConnell), Utah delegates visited the Metrodome. Delegates got to go onto the field and several delegates including Eric Isom, Ben Horsley and Marco Diaz decided to run the outfield. Fortunately no one was injured.
Other highlights of the day included:
In the afternoon a number of delegates and attended a rally which included a speech by Grover Norquist who is president of Americans for Tax Reform. His message centered on the need to reduce taxation to help rope in the size of government. Another presentation discussed the national debt which is nearing $10 trillion dollars or $31,000 for every man, woman and child in this nation.
I was thrilled to hear Republicans talk about the need to reduce government spending at the nightly convention session. I was impressed when a presentation noted that John McCain has never sought any earmarks for Arizona. Reducing government spending has not been a high priority of Republicans lately. While I have several concerns about John McCain, I have always appreciated his willingness to fight government waste. I am hoping that his nomination will signal making deficit reduction a higher priority.
Another highlight of the convention was Senator Fred Thompson’s talk which included a discussion of John McCain’s experience as a POW. On my LDS mission, my mission president, David Rollins, was in POW camps with John McCain. I know how this experience changed his life and the admiration I have for him and for all who make great sacrifices to serve this country.
Utah is one of the reddest states in the nation, so the Republican Party can often take Utah for granted. This is demonstrated by Utah’s position on the convention floor. Only one state is further away from the podium than Utah. That state is Vermont, which is best known for having a socialist (Bernie Sanders) represent them in Washington.
While Utah is far away from the podium, it is right next to the CNN, CBS and NBC studious. Utah delegates often make up the background for CNN shots, and delegates got a chance to get a wave from Laura Bush prior to her interview on NBC.
An unexpected benefit came when fellow delegate Larry Meyers of St. George and I decided to take a different route out of the convention hall. Security asked us to stop prior to entering a stairway. As we waited we had the opportunity to see President Bush, Barbara Bush and Cindy McCain as they exited the Xcel Center.
Wednesday’s highlight will be a speech from Vice-Presidential nominee Sarah Palin. Governor Jon Huntsman is also tentatively scheduled to address the convention. Of course, the convention schedule is in flux so that is subject to change.
The highlight of the day was a lunch sponsored by Senator Orin Hatch which featured a performance by Lee Greenwood. Greenwood performed a number of songs for the delegates with his signature song “God Bless the USA” ending the performance. His performance put in perspective why we as delegates are here in Minneapolis by reminding us of the greatness of this country.
Prior to lunch with Greenwood (which also featured a short speech from Senate Minority Leader Mitch McConnell), Utah delegates visited the Metrodome. Delegates got to go onto the field and several delegates including Eric Isom, Ben Horsley and Marco Diaz decided to run the outfield. Fortunately no one was injured.
Other highlights of the day included:
In the afternoon a number of delegates and attended a rally which included a speech by Grover Norquist who is president of Americans for Tax Reform. His message centered on the need to reduce taxation to help rope in the size of government. Another presentation discussed the national debt which is nearing $10 trillion dollars or $31,000 for every man, woman and child in this nation.
I was thrilled to hear Republicans talk about the need to reduce government spending at the nightly convention session. I was impressed when a presentation noted that John McCain has never sought any earmarks for Arizona. Reducing government spending has not been a high priority of Republicans lately. While I have several concerns about John McCain, I have always appreciated his willingness to fight government waste. I am hoping that his nomination will signal making deficit reduction a higher priority.
Another highlight of the convention was Senator Fred Thompson’s talk which included a discussion of John McCain’s experience as a POW. On my LDS mission, my mission president, David Rollins, was in POW camps with John McCain. I know how this experience changed his life and the admiration I have for him and for all who make great sacrifices to serve this country.
Utah is one of the reddest states in the nation, so the Republican Party can often take Utah for granted. This is demonstrated by Utah’s position on the convention floor. Only one state is further away from the podium than Utah. That state is Vermont, which is best known for having a socialist (Bernie Sanders) represent them in Washington.
While Utah is far away from the podium, it is right next to the CNN, CBS and NBC studious. Utah delegates often make up the background for CNN shots, and delegates got a chance to get a wave from Laura Bush prior to her interview on NBC.
An unexpected benefit came when fellow delegate Larry Meyers of St. George and I decided to take a different route out of the convention hall. Security asked us to stop prior to entering a stairway. As we waited we had the opportunity to see President Bush, Barbara Bush and Cindy McCain as they exited the Xcel Center.
Wednesday’s highlight will be a speech from Vice-Presidential nominee Sarah Palin. Governor Jon Huntsman is also tentatively scheduled to address the convention. Of course, the convention schedule is in flux so that is subject to change.
Monday, September 1, 2008
Monday Highlights
Mitt Romney spoke to the Utah delegation in their morning breakfast. He talked about how Utah loves the color red not only in its scenery but in the candidates it chooses. Romney gave his wholehearted endorsement to the McCain/Palin ticket.
Romney called them both mavericks who are willing to go against the political grain; praising Palin for putting an end to the "Bridge to Nowhere" as governor of Alaska.
Romney talked of Biden's so-called experience in foreign affairs. Noting that Biden opposed Reagan's military buildup; he opposed the Persian Gulf War and he favored breaking Iraq into three countries.
After Romney's speech, Stan Lockhart addressed the delegates reminding them that "I Can" (the last four letters of Republican and the basis of the state parties media blitz) sounds better than "O Crat".
Monday night was supposed to be the night President Bush addressed the Republican National Convention, but instead Utah delegates spent Monday night preparing hygiene kits.
With Monday’s events abbreviated to only official business on Monday afternoon, delegates found there calendars empty on Monday evening. As Utahans do, delegates looked for ways to provide service.
The local wards of the local LDS stake literally overnight helped provide the items for the kits (which include two combs, two towels, two bars of soap, toothpaste and four toothbrushes). Getting the call on Sunday night, members purchased the needed items on Monday for the delegates to put together beginning at 6 p.m.
With the items provided, delegates put together approximately 1,000 kits.
Having participated in a number of county and state conventions, I am used to being able to debate platform amendments and rules amendments. This is not the case at a national convention. While these items are presented to delegates for approval, there is a script that is followed closely. The lesson learned is that if you want to have a real voice in the convention process, you need to put yourself in a position to be on one of the committees that are voted for by national delegates long before the convention.
While these committees have real power, the elections in the Utah delegation went largely uncontested with the exception of one race.
One item of discussion amongst delegates was news of Sarah Palin’s daughter’s pregnancy. It is amazing that liberals are taking this opportunity to attack the ticket. When asked what he would do if his daughter became pregnant, Senator Obama said he would not want to force his daughter to have a child. Palin’s family was faced with this decision in real life, and they proved their devotion to the pro life cause.
That being said, I hope the press will give Palin’s family their privacy.
On Tuesday, Utah’s delegates will listen to Senator Bob Bennet on Tuesday morning. A tour of downtown Minneapolis including a visit to the Metrodome, lunch with Senator Hatch featuring Lee Greenwood and another service project will take up the bulk of the day. The schedule for the convention on Tuesday night has yet to be determined.
Monday night was supposed to be the night President Bush addressed the Republican National Convention, but instead Utah delegates spent Monday night preparing hygiene kits.
With Monday’s events abbreviated to only official business on Monday afternoon, delegates found there calendars empty on Monday evening. As Utahans do, delegates looked for ways to provide service.
The local wards of the local LDS stake literally overnight helped provide the items for the kits (which include two combs, two towels, two bars of soap, toothpaste and four toothbrushes). Getting the call on Sunday night, members purchased the needed items on Monday for the delegates to put together beginning at 6 p.m.
With the items provided, delegates put together approximately 1,000 kits.
Having participated in a number of county and state conventions, I am used to being able to debate platform amendments and rules amendments. This is not the case at a national convention. While these items are presented to delegates for approval, there is a script that is followed closely. The lesson learned is that if you want to have a real voice in the convention process, you need to put yourself in a position to be on one of the committees that are voted for by national delegates long before the convention.
While these committees have real power, the elections in the Utah delegation went largely uncontested with the exception of one race.
One item of discussion amongst delegates was news of Sarah Palin’s daughter’s pregnancy. It is amazing that liberals are taking this opportunity to attack the ticket. When asked what he would do if his daughter became pregnant, Senator Obama said he would not want to force his daughter to have a child. Palin’s family was faced with this decision in real life, and they proved their devotion to the pro life cause.
That being said, I hope the press will give Palin’s family their privacy.
On Tuesday, Utah’s delegates will listen to Senator Bob Bennet on Tuesday morning. A tour of downtown Minneapolis including a visit to the Metrodome, lunch with Senator Hatch featuring Lee Greenwood and another service project will take up the bulk of the day. The schedule for the convention on Tuesday night has yet to be determined.
Romney called them both mavericks who are willing to go against the political grain; praising Palin for putting an end to the "Bridge to Nowhere" as governor of Alaska.
Romney talked of Biden's so-called experience in foreign affairs. Noting that Biden opposed Reagan's military buildup; he opposed the Persian Gulf War and he favored breaking Iraq into three countries.
After Romney's speech, Stan Lockhart addressed the delegates reminding them that "I Can" (the last four letters of Republican and the basis of the state parties media blitz) sounds better than "O Crat".
Monday night was supposed to be the night President Bush addressed the Republican National Convention, but instead Utah delegates spent Monday night preparing hygiene kits.
With Monday’s events abbreviated to only official business on Monday afternoon, delegates found there calendars empty on Monday evening. As Utahans do, delegates looked for ways to provide service.
The local wards of the local LDS stake literally overnight helped provide the items for the kits (which include two combs, two towels, two bars of soap, toothpaste and four toothbrushes). Getting the call on Sunday night, members purchased the needed items on Monday for the delegates to put together beginning at 6 p.m.
With the items provided, delegates put together approximately 1,000 kits.
Having participated in a number of county and state conventions, I am used to being able to debate platform amendments and rules amendments. This is not the case at a national convention. While these items are presented to delegates for approval, there is a script that is followed closely. The lesson learned is that if you want to have a real voice in the convention process, you need to put yourself in a position to be on one of the committees that are voted for by national delegates long before the convention.
While these committees have real power, the elections in the Utah delegation went largely uncontested with the exception of one race.
One item of discussion amongst delegates was news of Sarah Palin’s daughter’s pregnancy. It is amazing that liberals are taking this opportunity to attack the ticket. When asked what he would do if his daughter became pregnant, Senator Obama said he would not want to force his daughter to have a child. Palin’s family was faced with this decision in real life, and they proved their devotion to the pro life cause.
That being said, I hope the press will give Palin’s family their privacy.
On Tuesday, Utah’s delegates will listen to Senator Bob Bennet on Tuesday morning. A tour of downtown Minneapolis including a visit to the Metrodome, lunch with Senator Hatch featuring Lee Greenwood and another service project will take up the bulk of the day. The schedule for the convention on Tuesday night has yet to be determined.
Monday night was supposed to be the night President Bush addressed the Republican National Convention, but instead Utah delegates spent Monday night preparing hygiene kits.
With Monday’s events abbreviated to only official business on Monday afternoon, delegates found there calendars empty on Monday evening. As Utahans do, delegates looked for ways to provide service.
The local wards of the local LDS stake literally overnight helped provide the items for the kits (which include two combs, two towels, two bars of soap, toothpaste and four toothbrushes). Getting the call on Sunday night, members purchased the needed items on Monday for the delegates to put together beginning at 6 p.m.
With the items provided, delegates put together approximately 1,000 kits.
Having participated in a number of county and state conventions, I am used to being able to debate platform amendments and rules amendments. This is not the case at a national convention. While these items are presented to delegates for approval, there is a script that is followed closely. The lesson learned is that if you want to have a real voice in the convention process, you need to put yourself in a position to be on one of the committees that are voted for by national delegates long before the convention.
While these committees have real power, the elections in the Utah delegation went largely uncontested with the exception of one race.
One item of discussion amongst delegates was news of Sarah Palin’s daughter’s pregnancy. It is amazing that liberals are taking this opportunity to attack the ticket. When asked what he would do if his daughter became pregnant, Senator Obama said he would not want to force his daughter to have a child. Palin’s family was faced with this decision in real life, and they proved their devotion to the pro life cause.
That being said, I hope the press will give Palin’s family their privacy.
On Tuesday, Utah’s delegates will listen to Senator Bob Bennet on Tuesday morning. A tour of downtown Minneapolis including a visit to the Metrodome, lunch with Senator Hatch featuring Lee Greenwood and another service project will take up the bulk of the day. The schedule for the convention on Tuesday night has yet to be determined.
Subscribe to:
Posts (Atom)
