The Bailout Bill did not pass and the Stock Market tanked as a result. In true rebound form, the investors are back to work this morning and the market seems to be recovering.
Later today, Obama is going to announce "his" idea that the FDIC insure $250K, up from the current $100K. So I have two questions for Senator Obama: One, where will the extra $150K come from in the case that we have a Depression like surge on bank monies and Two, why is it that you think that people who have the opportunity to put $250K in a savings account are the same people who are losing their houses and do not have health insurance? Seriously?
This is exactly the fuzzy thinking I talk about when I express my concerns over this man becoming the next President. There is a real crisis in action and Mr. Obama is looking for ways to protect and enhance the upper middle class and is looking to spend money that is not available to do it.
I saw one of his commercials this morning talking about health care. Now he is suggesting that insurance companies cover pre-existing conditions. Again, who is going to pay for this? The insurance companies are going to pass that cost along to business and private customers. How is that good for us?
I cannot talk with my mother anymore that she is not trying to cram Obama down my throat. I equate it to the Born Again Christan extremist. Of course, I ask her why she is so passionate about the Obama/Biden ticket and she cannot articulate why they would be ok, which reduces our conversation to her telling me that of course I will vote with the Republican party line because I am without the ability to have an open mind. I truly believe that these people would drink the poisoned Kool-Aid without knowing why they are doing it, just because Barack says so. It is bizarre to me. I am just not taken with him and have given him every opportunity to WOW me. He is the boss that takes your idea to the Board and presents it as his own. He is going to raise taxes across the board, that is the only way he will be able to fund all the plans that he touts. People who make $250K are smart enough to protect that money from taxes and that population is not large enough to carry the rest of us on their backs. Open Your Eyes People - Make Him Explain His Math Before You Drink the Kool-Aid.