Wednesday, October 10, 2007 2:10:35 PM
Fiscal Irresponsibility
There are fewer topics concerning our current political landscape that get me more upset than the fiscal irresponsibility of our Congress and President. As President I promise to veto any and all bills that include the barrels of pork as discussed below. If we don't get our country back on a footing of fiscal responsibility soon, we are going to leave a bankrupt, second level economy to our children and grandchildren. The President is our leader and he needs to act like one and do what is right for the country now and in the future.
Under the "fiscal restraint" of the Republicans our deficit has ballooned and spending has increased (even ignoring the war in Iraq) at a greater pace than at almost any time in the history of our country. There was the hope and, as we were promised by the Democrats during the last Congressional elections, that they would show some fiscal restraint and get the country back on a path of fiscal responsibility. Well, based on the current negotiations over a water projects bill (the Water Resources Development Act) for the Army Corps of Engineer, that "promise" has already been forgotten and we are back to business as usual.
Originally, the U.S. Army Corp of Engineers requested a budget of $4.9 billion for works they identified as necessary.
However, once Congress got their hands on the bill it ballooned to around $14 billion in the Senate and around $15 billion in the House. Of course a rational person would think, "Well that's pretty bad, but hopefully when they reconciled the two bills calmer heads would prevail and cut some of those costs." Nope, not with this bunch of drunken sailors. By the time it came out of committee the total cost of the bill had risen to $23.2 billion.
How does a bill go from a request from the people who are planning to actually spend the money on the projects of $4.9 billion to a total of $23.2 billion? An increase of almost 400%. Is the U.S. Army Corps of Engineers so incompetent that they can't see all the projects that need to be done to keep our country safe? I don't believe so and neither should you.
Rather, over $18 billion of your money was added to the bill so the members of Congress could add almost 900 items of Pork Barrel spending and special-interest boondoggles to pay off their supporters at home.
Examples of these extra and often unnecessary projects (per the Heritage Foundation) include:
Funding for a study on the impact on navigation of the proposed
Knik Arm Bridge (renamed "Don Young's Way" in SAFTEA-LU) at Cook Inlet in Alaska (Section 4005);
Riverfront development to enhance recreation in Perth Amboy, New Jersey (Section 4048);
Authorization of $5,300,000 for the construction of Lake Lanier Olympic Center in Georgia (Section 5061); and
Authorization of $65,000,000 for a Lido Key Beach, Florida, replenishment project (Section 3036).
$21,000,000 for Imperial Beach, California, beach replenishment;
$101,000, 000 for beach replenishment at Ocean City, Sea Isle City, and contiguous New Jersey seashore resorts;
$59,000,000 for central New Jersey seashore beach replenishment;
$122,000,000 for beach replenishment in northern New Jersey; and
$10,600,000 for beach replenishment on Pawley's Island, South Carolina.
Behind the diversion of taxpayer money from essential flood safety programs to geographically and seasonally limited recreation activities like the Corps' beach replenishment program is a trade association-the American Shore & Beach Preservation Association (ASBPA)-that represents seaside resorts. Also involved are lobbying firms that specialize in obtaining resort-oriented earmarks, among which is Marlowe & Co., a firm that also represents the ASBPA and serves as a contact on the Association's press release.
Assuming that Marlowe was describing his company's success accurately, one has to wonder exactly how his firm was allowed to participate so intimately in the congressional budgeting, authorizing, and appropriations processes. Indeed, as these and other earmarks suggest, and as the lobbyists' own promotional materials imply, Congress and the congressional committees responsible for water resources and the Army Corps of Engineers have effectively privatized some portion of the congressional budget process to the K Street lobbying firms and appear to have allowed them wide latitude in selecting what projects are included in the legislation.
Now you can't blame just the Democrats for this because it appears that all the little piggies lined up at the trough for this one. The Democrats are in charge of the most important committees, but they let the Republicans pile on as well so that if President Bush actually shows some fiscal restraint and vetoes the bill (amazing how he'll now veto things since they come from Democrats) they will have enough votes lines up to override the veto.
If this were an isolated incident it might not matter much, but unfortunately, this seems to be the way Congress operates on a regular basis with the approval of the President and it will lead to a severe financial downturn for all Americans before too much longer.
That is why I continue on with my campaign to be President of the United States. We need someone running this country who will take fiscal responsibility seriously and, as far as I can tell, none of the front runners for the job from either party have demonstrated much fiscal restraint in their careers.
Most of the problems that arise with a country can be dealt with fairly easily if that country is operating on a firm foundation of fiscal restraint. Think of your own lives. If you have a reserve to fall back on, you can weather problems much easier than if you are living hand-to-mouth and have absolutely no back-up or reserves.
We cannot, as a nation, continue to be this fiscally irresponsible. Like the past several years of real estate madness, it's all fun and games while the good times last, but when they come to an end, they come to an end very hard. If our government continues to spend like a drunken sailor on shore leave we, the people who end up paying the bills, are all going to wake up with a major hangover one day soon.
Remember, it is your money and it should be spent responsibly. It is up to the President to do whatever he can to ensure that happens and I will do exactly that.
"Anything is Possible in America"
Even finding a fiscally responsible President, you just may have to look outside the normal places.
Thanks for your continued support and please remember to tell everyone you know about my efforts. The election is still 13 months away and with your help I am continuing to make progress every day.
Frank McEnulty
frank@frankforpresident.org
www.frankforpresident.org
There are fewer topics concerning our current political landscape that get me more upset than the fiscal irresponsibility of our Congress and President. As President I promise to veto any and all bills that include the barrels of pork as discussed below. If we don't get our country back on a footing of fiscal responsibility soon, we are going to leave a bankrupt, second level economy to our children and grandchildren. The President is our leader and he needs to act like one and do what is right for the country now and in the future.
Under the "fiscal restraint" of the Republicans our deficit has ballooned and spending has increased (even ignoring the war in Iraq) at a greater pace than at almost any time in the history of our country. There was the hope and, as we were promised by the Democrats during the last Congressional elections, that they would show some fiscal restraint and get the country back on a path of fiscal responsibility. Well, based on the current negotiations over a water projects bill (the Water Resources Development Act) for the Army Corps of Engineer, that "promise" has already been forgotten and we are back to business as usual.
Originally, the U.S. Army Corp of Engineers requested a budget of $4.9 billion for works they identified as necessary.
However, once Congress got their hands on the bill it ballooned to around $14 billion in the Senate and around $15 billion in the House. Of course a rational person would think, "Well that's pretty bad, but hopefully when they reconciled the two bills calmer heads would prevail and cut some of those costs." Nope, not with this bunch of drunken sailors. By the time it came out of committee the total cost of the bill had risen to $23.2 billion.
How does a bill go from a request from the people who are planning to actually spend the money on the projects of $4.9 billion to a total of $23.2 billion? An increase of almost 400%. Is the U.S. Army Corps of Engineers so incompetent that they can't see all the projects that need to be done to keep our country safe? I don't believe so and neither should you.
Rather, over $18 billion of your money was added to the bill so the members of Congress could add almost 900 items of Pork Barrel spending and special-interest boondoggles to pay off their supporters at home.
Examples of these extra and often unnecessary projects (per the Heritage Foundation) include:
Funding for a study on the impact on navigation of the proposed
Knik Arm Bridge (renamed "Don Young's Way" in SAFTEA-LU) at Cook Inlet in Alaska (Section 4005);
Riverfront development to enhance recreation in Perth Amboy, New Jersey (Section 4048);
Authorization of $5,300,000 for the construction of Lake Lanier Olympic Center in Georgia (Section 5061); and
Authorization of $65,000,000 for a Lido Key Beach, Florida, replenishment project (Section 3036).
$21,000,000 for Imperial Beach, California, beach replenishment;
$101,000, 000 for beach replenishment at Ocean City, Sea Isle City, and contiguous New Jersey seashore resorts;
$59,000,000 for central New Jersey seashore beach replenishment;
$122,000,000 for beach replenishment in northern New Jersey; and
$10,600,000 for beach replenishment on Pawley's Island, South Carolina.
Behind the diversion of taxpayer money from essential flood safety programs to geographically and seasonally limited recreation activities like the Corps' beach replenishment program is a trade association-the American Shore & Beach Preservation Association (ASBPA)-that represents seaside resorts. Also involved are lobbying firms that specialize in obtaining resort-oriented earmarks, among which is Marlowe & Co., a firm that also represents the ASBPA and serves as a contact on the Association's press release.
Assuming that Marlowe was describing his company's success accurately, one has to wonder exactly how his firm was allowed to participate so intimately in the congressional budgeting, authorizing, and appropriations processes. Indeed, as these and other earmarks suggest, and as the lobbyists' own promotional materials imply, Congress and the congressional committees responsible for water resources and the Army Corps of Engineers have effectively privatized some portion of the congressional budget process to the K Street lobbying firms and appear to have allowed them wide latitude in selecting what projects are included in the legislation.
Now you can't blame just the Democrats for this because it appears that all the little piggies lined up at the trough for this one. The Democrats are in charge of the most important committees, but they let the Republicans pile on as well so that if President Bush actually shows some fiscal restraint and vetoes the bill (amazing how he'll now veto things since they come from Democrats) they will have enough votes lines up to override the veto.
If this were an isolated incident it might not matter much, but unfortunately, this seems to be the way Congress operates on a regular basis with the approval of the President and it will lead to a severe financial downturn for all Americans before too much longer.
That is why I continue on with my campaign to be President of the United States. We need someone running this country who will take fiscal responsibility seriously and, as far as I can tell, none of the front runners for the job from either party have demonstrated much fiscal restraint in their careers.
Most of the problems that arise with a country can be dealt with fairly easily if that country is operating on a firm foundation of fiscal restraint. Think of your own lives. If you have a reserve to fall back on, you can weather problems much easier than if you are living hand-to-mouth and have absolutely no back-up or reserves.
We cannot, as a nation, continue to be this fiscally irresponsible. Like the past several years of real estate madness, it's all fun and games while the good times last, but when they come to an end, they come to an end very hard. If our government continues to spend like a drunken sailor on shore leave we, the people who end up paying the bills, are all going to wake up with a major hangover one day soon.
Remember, it is your money and it should be spent responsibly. It is up to the President to do whatever he can to ensure that happens and I will do exactly that.
"Anything is Possible in America"
Even finding a fiscally responsible President, you just may have to look outside the normal places.
Thanks for your continued support and please remember to tell everyone you know about my efforts. The election is still 13 months away and with your help I am continuing to make progress every day.
Frank McEnulty
frank@frankforpresident.org
www.frankforpresident.org
"Anything is Possible in America"
Frank McEnulty
www.frankforpresident.org
Discover What Traders Are Watching
Explore small cap ideas before they hit the headlines.
