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The PJ Tatler

Stephen Kruiser


July 24, 2013 - 9:31 pm

Sure, that’s the problem.

Barack Obama flew to Knox College in his political home state of Illinois to deliver a ballyhooed economic speech Wednesday afternoon on the plight of the hard-knocks middle class.

After 10 fingers worth of presidential pivots on the economy, Obama promised that this was the final pivot, the one that would define his second term. The president boldly announced that he intends “to use every minute of the 1,276 days remaining in my term to make this country work for working Americans again.”

There is only one problem – the next 1,276 days are apt to be a portrait in presidential frustration because of something called the Republican House. Sure, Obama confidently proclaimed, “Some [ideas] will require Congress and some I will pursue on my own.” But (shocking revelation ahead) anything major in government requires money – and that requires the approval of House Speaker John Boehner and company.

If, as a human with a functioning brain, you’ve ever wondered why the media hive mind in America never seems to see anything but shimmering perfection when they look at The Idiot King, this is it. Try as he might, his benevolence and perfection aren’t allowed to fully blossom because, darn it, the United States hasn’t gone the Soviet Politburo way yet.

Even while admitting that the president’s focus on ramming the health care monster down our throats while ignoring the economy so upset the American people that it brought on the ass-whoopin’ that gave Republicans control of the House, the author still acts like it’s all the GOP’s fault that his other unpopular ideas don’t get any traction.

Of course, the president knows this and throws an “Obstructionist GOP!” toddler tantrum almost every time he’s near a microphone.

It’s a lot like blaming one’s parents for all that’s going wrong in life. Even if there is some truth to it, it’s an excuse with a shelf life and a trip to the mirror is in order.

Stephen Kruiser is a professional comedian and writer who has also been a conservative political activist for over two decades. A co-founder of the first Los Angeles Tea Party, Kruiser often speaks to grassroots groups around America and has had the great honor of traveling around the world entertaining U.S. troops.

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Your congress working for Americans (wink,wink)! The student loan crisis unmasked. See, it’s all an accounting smoke and mirrors scheme devised by We The Elite People of culture of corruption in ALL of Washington DC to “paper over” all $95 billion in estimated student loan losses in coming years. Here’s how it works:
Congress writes the rules for government accounting.
1)So they’ve required federal accountants to book 100% of the future interest paid by a borrower in the year the loan is made. If a borrower is going to pay $5,000 in interest over the next decade, all the revenue is booked today(HOW??).
For example:In fiscal year (FY) 2013, the government projects student loans will generate a profit of $36 billion dollars. They’ve also ordered accountants to book all of the costs of the program immediately, thinking is, this will balance the books. Problem with this flim-flammery is: The costs are no way near accurate. Congress literally tells the government how many student loans, get this, it’s allowed to project as going bad (what crystal ball is Congress looking into??).
These estimates demanded by Congress are so screwy they’re way off base,
and Congress and Congressional types and accountants know it. But they choose to ignore reality and insist on booking a phantom profit that will never
arrive.In the private sector, executives go to jail for similar accounting fraud (Bernie Madoff’s PONZI scheme).
2)In reality, nearly 30% of current student loans have gone bad or are in some form of default. The Department of Education reports they’re
currently pursuing 6.8 million deadbeat debtors to the student loan program.
Just another example of Congress failing to deal with reality. The current accounting formula is predicting a profit. But if the government was required to account for these funds as a private business would, then they’d instead be booking a $95 billion loss over the next decade.Interest rate kabuki theatre is just that…smoke-and-mirrors.
Sorry, there’s more bad news about Congressional types and their “slight-of-hand” magical wand waving acts. See,they made this national mess We The People are living, now they’re trying to “paper over” these “bringing-the-bacon-home” schemes they approved (see, all these bills had appropriations attached, “sweetening” the pies tasty acceptance).
Think about it: If 30% of the borrowers at a private bank were defaulting, the lender would be fighting for life in bankruptcy court. But in spite of the fact that the government’s student loans are high-risk, taxpayers are stuck with the losses, so everyone turns a blind eye(“We’re going to lower student
loan interest rates”).
O.K. let’s prove Congress’ track record with bad loans:

1)Government’s current subsidizing of housing loans. Same accounting
“papering over,” just using different accounting tricks called -GSE or Government Sponsored Entity,designed specifically to keep future losses off the books entirely.Need proof? The two best known GSE’s are Fannie Mae and Freddie Mac. They write most of the 30-year mortgages for homebuyers. Just this week (7/22/2013), Financial Services Committee of the U.S. House held hearings on the Protecting American Taxpayers and Homeowners (PATH) Act, intended to reform these GSEs. Remember Bush’s TARPI? Then Obama’s “Too Big To Fail Bail Outs?” We The People are stuck with the tab.
And Congress wants to perpetuate his massive PONZI scheme:
Finance Committee Chairman Jeb Hensarling, of Texas,pontificating. said:
“It’s been nearly five years since the financial crisis, which was caused in large part by federal policies that incented, mandated, and browbeat
financial institutions to loan money to people to buy homes they ultimately
could not afford. In a phrase, an unsustainable finance housing system. It’s
been three years since the Dodd-Frank Act failed to do anything about Fannie Mae and Freddie Mac and their record taxpayer-funded bailout. It’s time to move forward with this plan and give Americans the housing finance system that is worthy of them.” (Remember:We The People were stuck with this tab, too)
What’s going to happen to America? Look no further than Detroit’s chapter 9 bankruptcy filing for protection, after 40-odd years of 1)greed, 2)power and 3)corruption was finally forced to face reality. This is how it unravels…on the
periphery. The REAL STORY??? United States is unable to pay its future
obligations. When the sovereign debt contagion finally hits America, current high unemployment rate will spike even higher… again. No one will be lending and no one will be buying anything but necessities (read: food and water)
This outcome (for ALL USA)will happen – hard to say if it’ll be next year, next month or in a decade from now. Pray. Amen. (Capitol Hill Daily)Join a Tea Party, urgently.
1 year ago
1 year ago Link To Comment
"No, I didn't. Honest... I ran out of gas. I... I had a flat tire. I didn't have enough money for cab fare. My tux didn't come back from the cleaners. An old friend came in from out of town. Someone stole my car. There was an earthquake. A terrible flood. Locusts! IT WASN'T MY FAULT, I SWEAR TO GOD!"

No matter what speech Obama gives, this is what I hear.
1 year ago
1 year ago Link To Comment
Hmmm, Obama reading a bunch of BS from his teleprompter about how everything that goes wrong is somebody's else's fault and the jour-know-nothing-lists bleating about it as if it wasn't a total waste of everyone's time. Now there's something new and different.
1 year ago
1 year ago Link To Comment
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