Issues

Financial Reform

President Obama signed the Financial Reform bill into law on July 21, 2010. Mr. Obama billed the massive legislation as a law that empowers consumers, puts an end to the era of taxpayer bailouts and brings “the shadowy deals that caused this crisis into the light of day.”  Well the reality for Americans is that in the midst of the debate two of the largest contributors the economic collapse and bailouts Fannie Mae and Freddie Mac were de-listed from the markets and were not even addressed in this so called landmark legislation.

The security of our financial systems as outlined in the new law have left an even bigger danger at large and could very well create a new bailout larger than the last with even more dire consequences according to the Congressional Budget Office (CBO) reaching a staggering 1 trillion dollars.  Fannie and Freddie have liabilities in excess of $5 trillion. They have already directly cost taxpayers nearly $150 billion, with no end in sight according to the Wall Street Journal.  America cannot afford more failed Leadership.

Key links on Wall Street Reform:

Wall Street Journal - “Fan and Fred and the Problem of Narrative”

Top 10 List

Obama + Liberal Congress =  Worst Disaster Movie Ever!!!
Top 10 Grossest Moves
1)      2.3 Million jobs lost since March 2009
2)      Federal Budget Deficit soars to $1.6 Trillion
3)      National Debt now $12.9 Trillion
4)      Healthcare “reform” to cost $2.5 Trillion
5)      Healthcare “reform” includes $570 Billion in taxes increases
6)      Climate Tax to cost 1 million jobs per year
7)      Climate Tax would increase average energy costs by $3000 per household
8)      49 out of 50 states lost jobs since Obama’s $862 Billion “stimulus” package
9)      Obama travels the world apologizing for America
10)    Obama wins Nobel Peace Prize

Economy

“So if somebody has the idea that the percentage of GDP of what or national debt is will go up a bit, but they will now — and their neighbors and their children — will have jobs, I think they could absorb that.”
Since Speaker Pelosi took office :

- The national debt increased by 41.8%.
- The budget deficit has nearly tripled.
- The debt limit (borrowing limit) increased FIVE times.

When the Democrats gained control of Congress, the CBO projected that the federal government would run a budget surplus of $800 billion between FY 2008-2017.  Now, over that same period, the federal government is projected to run a deficit of $7.4 trillion.

Energy (Cap and Trade)

“We’ve said all along that clean energy is about four things: jobs, jobs, jobs, jobs.”

What Pelosi’s Cap and Trade bill will do to Pennsylvania

- 71,000-97,000 Pennsylvania job losses;
- By 2030:
- Gasoline prices increase by 19-25%;
- Electricity prices increase by 41%;
- Natural gas prices increase by 68%;
- Lower-income and fixed-income elderly will be hit hardest as a disproportionate amount of their income is spent on energy costs.

What Pelosi’s Cap and Trade bill will do to America :

- Destroy 844,000 on average, with peak years seeing unemployment rise by over 1,900,000 jobs,
- Raise electricity rates 90 percent after adjusting for inflation,
- Raise inflation-adjusted gasoline prices by 74 percent,
- Raise residential natural gas prices by 55 percent,
- Raise an average family’s annual energy bill by $1,500, and
- Increase inflation-adjusted federal debt by 29 percent, or $33,400 additional federal debt per person, again after adjusting for inflation.

Health Care

“The best initiative that we can take to strengthen Medicare and improve care and benefits for our seniors, closing the donut hole, is to pass health care reform.”

What Speaker Pelosi’s Health Care will do to us:

- U.S. Steel announced Pelosi’s Health Care will cost them$27 million in just the first three months (Q1).
- Federal subsidies to the private Medicare Advantage plans — those that cover about 25 percent of Medicare participants and cost the government more, on average, than traditional Medicare — would be cut beginning in 2012
- According to an Obama Administration’s Medicare office report, more than seven million seniors could lose their Medicare coverage and 15% of hospitals, skilled nursing facilities and home health agencies would opt out of the Medicare program altogether.