Just more words:

Thursday – September 8, 2011

Just more words:

He spoke and he wants more money. This unfortunately was what I got out of the Presidents speech tonight.

This is a late edition of the FORUM. I wanted to give the benefit of the doubt to the man that is the leader of the free world. I was stunned by how many times the president said “pass the bill” at his appearance before the Joint Session of Congress tonight. Some of what he said I can agree with; like small business tax relief for one. However, when he said raise the capital gains tax he lost me. On the one hand he wants to help, but on the other he still wants to punish. This is the reason why jobs are not being created and this is why I was disappointed. In my opinion, the only real conviction I saw was pass it now- all or nothing.

I am beginning to think that all the President and his administration wants to accomplish is to make us feel that there is activity and that the Republicans will ultimately be blamed for no activity. And that kind of activity is reason enough to not create the confidence that is needed on Main Street. Wall Street will react, in a positive way, because Wall Street is only a reflection on that day’s confidence level they have. But ask anyone on Main Street if they have confidence and if all this activity or the appearance that something is being done will actually turn things around.

The President said he has a plan, it will take more investment, and the details will come together as the plan rolls out.

His shovel ready jobs plan resulted in a laugh from him in an interview. His Healthcare plan is now being constitutionally challenged. It has just been found out that one of the original recipients of federally backed loans from the stimulus, a company called Solyndra, has filed for bankruptcy and was raided by the Feds and the Department of Energy this week. This company manufactured Solar Panels for the green industry that the President has touted for so long, as being the saving grace of America.

The reason given by Solyndra executives, explaining the bankruptcy, was that “Regulatory and policy uncertainties in recent months created significant near-term excess supply and price erosion,” Solyndra president and CEO Brian Harrison said in a statement. “Raising incremental capital in this environment was not possible. This was an unexpected outcome and is most unfortunate.”

The real words in the statement should have been - China and falling prices in the solar industry has caused the company to go belly up and consequently had to lay off 1,100 employees.
The number of the unemployed at Solyndra will be reflected in the next jobless claims report. The other part of this story is that the company executives were supporters of the President. The company was awarded federally backed loan guarantees. In 2009, the Obama administration fast-tracked Solyndra’s loan application and it awarded $535 million in guarantees from the stimulus funds. The stimulus and every other program of this president have been fast tracked and this is the result.

President Obama visited Solyndra in May 2010, heralding the company as “leading the way toward a brighter and more prosperous future.” He also cited it as a success story from the government’s $787 billion economic stimulus package.

“Less than a year ago, we were standing on what was an empty lot. But through the Recovery Act, this company received a loan to expand its operations,” Obama said at the time. “This new factory is the result of those loans.”

You have heard the expression “buyer beware”. This is how we must view this administrations knack for creating activity only to make it look like something has happened. Something did happen, the tax payer lost out to the tune of 535 million dollars. Unfortunately, only 45 % of the people understand it.

We don’t need more words and then an explanation on how to pay for the words in a couple of weeks. The President said he wants to see more products sold around the world with ‘Made in America’ stamped on it. That’s fine, but don’t confuse the image with the facts in the picture. Jeffrey Immelt, the CEO of General Electric, who has moved thousands of jobs off shore, was sitting with the First Lady in the balcony tonight. Products ‘Made in America’ start with him and he hasn’t done it. General Electric one of the nation’s largest corporations is also sitting on billions of dollars that it hasn’t paid taxes on, because the money earned was earned overseas. Just more words to make it look like activity is occurring.

Jefferson said it best, when he said to the Maryland Republicans in 1809: "The care of human life and happiness and not their destruction is the first and only legitimate object of good government."

Gregory C. Dildilian
Founder and Executive Director
Pinecone Conservatives

A footnote: A president cannot just wave his hand and expect this Congress to follow. When that happened, with the old Congress, our debt soared, unemployment soared and Obama care was passed. Then, the spending occurred and occurred and occurred. There has been too much activity, because of the words that dictated it.