Categories
All Bacon Money Politics Rant

The Government Shutdown, Explained

BaconSays-ObamaCare

 Your news channel of choice has told you there is a government shutdown.

You have no idea what that means, but a lot of jerks,
(mainly on FOX news and wingnut radio shows)
are telling you who to blame. They’re probably lying to you.

IGNORE ALL THAT CRAP.

Here’s what is really happening:

Months ago, the Senate passed a “clean” CR (continuing resolution) Discretionary Budget to keep the government running.

It was a GIGANTIC gift (a huge compromise) to the Republicans
(as you will see from the graph below),
as it keeps the sequester in place and goes even lower than that,
both of which will continue to drag the economic recovery.

This CR bill was a bi-partisan effort in the Senate.
Additionally, the Senate invited the House months ago to come and participate in the budget negotiations, but Boehner said no EIGHTEEN times.
Now, after 40+ times trying to repeal the ACA, the House refuses to pass the Senate’s ‘clean’ CR unless they get the NON-discretionary ACA law de-funded.
It doesn’t belong in a bill for Discretionary funding,
but since the Tea Party is a bunch of cry-babies about Obamacare,
they won’t let any other government business happen unless they get their way.

If the Senate caves to this behavior, it will set a dangerous precedent that will allow a small faction of 1/3 of the government to hold the entire country hostage just so that Eric Cartman can get his new iPad or whatever the hell it is that they want (they don’t even know anymore).

All of the posturing that Republicans are doing right now in front of the cameras and the piece by piece funding bills they’re passing in the House are just a sad attempt of Republicans to seem reasonable while anyone who’s been paying attention knows they’re completely disingenuous (AKA – full of crap).

So the Tea Party Republicans continue to throw a tantrum until they get their way.
Every day or two, Ted Cruz does his best impression of Bizarro Superman (sans super-powers) with a blatant attempt to project his own faults onto the Democrats.
You can’t let bullies get away with that crap. Sometimes you have to hit back.

FundingLevelCharticle-1Image via ThinkProgress
who has a really great article
you should read about
the Republicans’ fake “willingness to compromise”

teapartyshutdown

Categories
All Money Politics Rant

A Quick Note to Fed Chairman Ben Bernanke

UPDATE 9-13-2012:

Fed Chairman Ben Bernanke just announced QE3
(Quantitative Easing – You can get an explanation of QE3 from Ezra Klein of the Washington Post)
.

While I’m sure that it will be better than doing nothing, especially since there’s no jobs legislation coming out of the House of Representatives (Shut up and pass the Jobs Bill, Boehner!), I have a better idea.
This is something that I’ve brought up before, so I’m revising this article with some additional info and a new suggestion for the Chairman of the Federal Reserve (or anyone capable of implementing it).

First, here’s some negative equity mortgage information about the 2nd quarter of 2012:

The housing market is finally showing signs of life, with many metropolitan areas having hit the elusive bottom and seeing home value appreciation, however negative equity remains a drag on the housing market. According to the second quarter Zillow Negative Equity Report, 30.9 percent of U.S. homeowners with a mortgage are underwater (see Figure 1) – 15.3 million people – in the second quarter of 2012. Recent home value appreciation in many markets across the US has pushed negative equity levels down from 31.4 percent last quarter. However, negative equity is still slightly elevated from the 2011 Q2 percentage of 30. In total, underwater homeowners owe $1.15 trillion more than their homes’ worth. Over 40 percent of underwater homeowners (12.5 percent of all homeowners with a mortgage), owe between 1 and 20 percent more than their home is worth. On the other end of the spectrum, about 2.2 million underwater homeowners (4.5 percent of all homeowners with mortgages) owe more than double what their home is worth (see Figure 2). On average, U.S. homeowners in negative equity owe $75,235 more than what their house is worth, or 43.9 percent more (see Table 1). While roughly one out of every three homeowners with mortgages is underwater, 90.8 percent of these homeowners are current on their mortgage and continue to make payments.
– Zillow.com

$1.15 TRILLION DOLLARS!
Yes, that’s a lot of money for your average American, but for the Federal Reserve (or the Big Banks or many SuperPACs) , it’s a DROP IN THE BUCKET.

With QE3, you’re buying up treasury bonds and mortage backed securities and other stuff like that.
This doesn’t fix the housing market and only puts a minor dent in that $1.15 Trillion.
30.9% of all U.S. homeowners are still underwater in their mortgages and banks have little to no incentive to help those homeowners.
Stop giving these jerks money if they’re not going to help us! Instead, try one of these ideas:

 
Establish a National Mortgage Bank to lend people the negative equity difference at zero percent interest so they can pay down and/or refinance their current mortgage.

 or…

Split the negative equity difference with the Banks and Wall Street and mark the mortgages to their current value
What would that do?

It gives more people the opportunity to refinance their mortgages, lower their payments, and have more money to put back into the economy.
Consider it an investment in the restoration of the housing market and the economy, which both of those entities benefit from.

Alternately, you could go with my previous suggestion:

(Content Below Originally Posted on 10/17/2011)

TO: Mr. Bernanke

SUBJECT: HOW TO FIX THE U.S. HOUSING MARKET

1) Estimate the total amount in $ of negative equity in “underwater” mortgages
(aka the amount of $ it would take to bring all of the underwater mortgages down to their current value).

2) Divide that number by 2

3) Make Congress (and their 501c4 / SuperPAC money) pay for half and make the big banks pay the other half.

I call this plan: Operation TWIST-AND-SHOUT

You’re welcome.

Please feel free to contact me for any further advice on repairing our failing economy.

Sincerely,
Me

(debt solutions provided for free)

Categories
All Bacon Food Humor Money Politics Rant

C.P. Bacon Addresses The Elephant In The Room

Yesterday, news broke that presidential candidate and crispy meat slab, C.P. Bacon of Bacon4President.com

confirmed that he had sent out a support letter in favor of newly formed Bacon SuperPAC aka Americans For More Bacon Tomorrow. After much criticism over his support of a SuperPAC after having publicly denounced the Citizens United ruling on Corporate “Personhood”, he released a followup statement on his Facebook page and simultaneously on his Twitter account, @Bacon4Pres , explaining his rationale:

WHY I SUPPORT BACON SUPERPAC

OK, let me address the elephant in the room. (No, not you, Dumbo, I’m speaking metaphorically).

Citizens United is what I’m talking about.  I’m pretty sure there’s a ton of corporate interests out there using Citizens United as a way to use tons of $$$$ to mislead the masses, and I’m not entirely sure if I agree with the Supreme Court on Corporations having the same rights to free speech as people (and half-people like me). But as a patriotic Bacon-American, I can see that the Citizens United ruling hurts the American Dream more than it helps. So I would be in favor of a constitutional amendment overturning Citizens United, but as most of us realize, passing one could take years.

In the meantime, corporate interests will continue to undermine the efforts of honest hardworking Americans just trying to #BringHomeTheBacon . So I’m doing the only thing I can to stem the tide. While the ability to make independent expenditures to promote a better food industry and a better economy for everyone is still perfectly legal under the law, I’ll do what I have to in order for you to have a better tomorrow.

This is why I support BaconSuperPAC.com and why I wrote that letter of support.
Americans For More Bacon Tomorrow shares a lot of the same hopes and dreams for a better future for America, and they want to help you have every opportunity to #BringHomeTheBacon.
So I hope you can see that this is not just any SuperPAC. It’s a BACON SuperPAC.

Thanks for reading, and Lard Bless America!

C.P. Bacon – Bacon4President.com
@Bacon4Pres on twitter

p.s. – I know you’re not supposed to start sentences with “so” and “but” , but I do not care. The message is what’s important. I’ll hire a speech-writer for next election,

Bacon SuperPAC Support Letter From C.P. Bacon:

Categories
All Bacon Food Money Politics Rant

Bacon Super PAC – Let's Make This Happen!

Hi, Bacon , Cheeseburger and Bacon Cheeseburger Fans
and followers of Bacon4President!

I’m starting up a Bacon Super PAC (www.baconsuperpac.com).
I’m not kidding. This is real.

Besides supporting an imaginary strip of Bacon wearing a suit who’s running for President (you can still write him in),
I want to use this PAC to support real solutions for economic recovery and local food-related causes and other things that we care about, such as:

helping people get jobs and training,
helping small businesses that create or support a better food industry,
giving people better access to fresh produce,
working with cities to create more reasonable food truck regulations (like preparing/cooking food on the truck, etc.),
and supporting those who support progress.

In order to get the Super PAC and 501 non-profit set up properly, I need some seed-money to set up accounts and do the initial paperwork, etc. I’m trying to do as much of this on my own as possible, but I may need legal or financial consultation to make sure I put your donations to their best use. Any amount not used for the setup will go toward funding of the SuperPAC and/or 501 non-profit.
Once Bacon Super PAC is up and running, I may soon be able to hire people to support the Super PAC and 501 non-profit organizations. I want to be a REAL job creator, so others can bring home the bacon, too!

Let’s get started!
Go to www.gofundme.com/BaconSuperPAC
and make a Pre-Funding Donation (any amount)
so we can get this thing “out of the frying pan”!


Together, we can make a future where
ALL Americans can have more bacon tomorrow!

Thanks for your support, and LARD BLESS AMERICA!

Edward Heller
Founder – Bacon SuperPAC
Americans For More Bacon Tomorrow
www.baconsuperpac.com