Rep. Bob Etheridge (NC-2) -- Arguing Dishonestly for Health-Care Reform....

polifrog

From The Wall Street Journal we hear that Caterpillar Takes a Hit on Health Care...

Caterpillar Inc. said Wednesday it will take a $100 million charge to earnings this quarter to reflect additional taxes stemming from newly enacted U.S. health-care legislation.

Caterpillar was joined by John Deere in announcing their increased health care costs....

Farm equipment maker Deere expects after-tax expenses to rise by $150 million this year as a result of the health care reform law President Barack Obama signed this week.

These expenses are not ultimately born by the corporations. Whether it's a corporate tax, an environmental tax, a health car tax, or the cost of raw materials and labor, expenses are ultimately passed on to the consumer as increased prices for goods. Not only does this make the citizens of the US poorer,but In a global economy this makes American Corporations less competitive and when they are less competitive they provide fewer jobs. (See GM, Ford) This is yet another step in the great wind-down of America fostered by the progressive movement.


There is no free lunch nor is there free health care and running it through the gov. only exacerbates the costs. It seems that Obama believes otherwise. He even claimed that business would see a 3000% reduction in costs with the passage of his plan.


Leaving aside the ignorance in stating that something would reduce costs by over 100%, Obama lied. I realize that in a storm dishonesty one lie can seem inconsequential, but a lie is a lie and should be called out as such.

Bob Etheridge supported this dishonesty, the lie that ObamaCare is a cost savings, with his vote for Obamacare.

North Carolina is better than Bob Etheridge and his support for ObamaCare is an embarrassment for this state. Bob Etheridge is an embarrassment for North Carolina.

Oust Bob Etheridge as NC-2 from office this November.





out

Rep GK Butterfield (NC-2) -- Rationing Health-Care

polifrog



We were told there was no rationing of health-care in ObamaCare. Politics.
Common sense said otherwise.




When the trust between producer and consumer is broken market distortions occur. Such is the case within the network of laws that is ObamaCare.

Within its pages health-care producers are no longer paid by end users and instead cater to those who do pay them, the more heavily regulated new arm of the government called insurance. The end users who are not required to pay only see free health-care, thus use more of it and use it more frivolously because dollar limitations no longer exist. This stresses supply and drives up costs. Simple and based on human nature.

The only way control way for costs to be controlled when the trust between provider and consumer or end user is broken is to ration the health-care we all receive. Government boards will necessarily do the rationing and when individuals die as a result of their decision not to provide care, then those boards can rightfully be called Death Panels.

A congressman who does not see this does not deserve to be a congressman. GK Butterfield not only joined his party in the denials of Death Panels, but lent his support for them with his vote in favor of ObamaCare. Even based on the most dismal of expectations GK Butterfield has failed to serve North Carolina and should loose his seat in November.

What is it about human nature that so befuddles GK Butterfield? This question alone should mark GK Butterfield as unfit to serve in congress.




out

Brain Trust Rep. Bob Etheridge Raises the Cost of Health Care in America With a Vote...

polifrog

"So I just got a call from my health insurance provider. My family rates are going up $200/month ... $2400/year per employee effective April 1st. Didn't take long after signing to get this s**t going.

So much for the "my plan will save Americans" $2500/year in Healthcare premiums."

All insurance companies should follow this lead if they wish to keep their businesses in the future. There is no free ride ride, free lunch, or free anything. Ultimately the cost of ObamaCare will be born on the shoulders of all employees. The fact is that the true cost of using heath-care facilities will be hidden from the users driving health-care costs higher as their demands will increase with the apparent decrease in cost. Add to this the fact that ObamaCare mandates Cadillac plans for everyone forcing the cost of the plans higher. Our president has been attempting to sell us a free ride. At one point we referred to this as selling the Brooklyn Bridge.

The reality of our President's lies are becoming apparent more quickly than I anticipated. Obama claimed we would see a 3000% reduction in costs. He lied.

Bob Etheridge voted for ObamaCare. Bob Etheridge supported Obama's lies with that vote. Bob Etheridge sported a poor understanding of economics when he voted for ObamaCare. Bob Etheridge supported Obama's hucksterism when he voted for ObamaCare. Bob Etheridge supported kickbacks when he voted for ObamaCare.

Bob Etheridge should no longer be the representative of NC- 2.




out

Rep. Brad Miller (NC-13) -- Forgetting the state he represents....

polifrog




North Carolina sent Brad Miller to Washington to represent not just the interests of the people of North Carolina but the interests of our great state as well.

If Brad Miller did anything to strengthen North Carolina it has been over shadowed by the incredible pain and loss of power he inflicted on our state and its people when he threw his support behind ObamaCare.

First off, North Carolina has power reserved to by the Constitution. In fact, all states have reserved to them all powers not explicitly defined as a Federal power. (Amendment 10 of the Constitution) Up until this point North Carolina controlled health care within its boarders and could tailer that care to suit the needs of the citizens of North Carolina if it so desired. Brad Miller, though, denied our people and NC the authority to control health care within our boarders. Brad Miller denied our state the ability tailer its health care system to it's specific needs. But even worse, Brad Miller abdicated that authority to our distant and unresponsive federal government.

This is not the action of a man who represents our state. This is, rather, the action of a man who represents the interests of Washington, a Washington drunk on power and ever desirous of more. Brad Miller supports funneling powers Constitutionally reserved to North Carolina and its people away from our state to Washington. Brad Miller is an enabler of Washington's power drunken stupor and likely addicted to it himself.

The Health Care Industry represents 1/6 of the economy. Therefore, it stands to reason that 1/6 of NC economy was simply turned over to Washington by Brad Miller. 1/6th of North Carolina's economy is no longer under the control of North Carolina and its people!

Brad Miller does not represent the interests of North Carolina, but rather, the interests of Washington.

Brad Miller's lust for Washington power is greater than his love for North Carolina. Brad Miller harms North Carolina. Brad Miller harms the citizens of North Carlina.

We need to force Brad Miller home for some Washington power addiciton rehab. this November.


out

Rep. GK Butterfield -- Constitution? What Constitution?

polifrog







I suspect that our government schools failed GK Butterfield when they covered our Constitution, but how can a person have been so disengaged from society as to have missed being educated on the topic by School House Rock.





In the absence of an acceptable education GK Butterfield progressed beyond the limitations of checks and balances. GK Butterfield's Constitution goes like this....



...You'll be taxed and pay, against your will, but today I'm just a bill....


GK Butterfield, bad for North Carolina, and
Anathema to the Constitution and the United States.






out

Rep. Brad Miller NC-13) Dissn' the Contitution...

polifrog



I suspect that our government schools failed Brad Miller when they covered our Constitution, but how can a person have been so disengaged from society as to have missed being educated on the topic by School House Rock.





In the absence of an acceptable education Brad Miller progressed beyond the limitations of checks and balances. Brad Miller's Constitution goes like this....



...You'll be taxed and pay, against your will, but today I'm just a bill....


Brad Miller, bad for North Carolina, and
Anathema to the Constitution and the United States.






out

Rep. Bob Etheridge -- Relegating the Citizenry to the Position of Business Costs Through Health Care Reform....

polifrog



Do we want a health-care system in which we are a cost,
-or do we want a health-care system that competes for our dollars?


Stupak:

What are Democratic leaders saying? “If you pass the Stupak amendment, more children will be born, and therefore it will cost us millions more. That’s one of the arguments I’ve been hearing,”

This is an insight into the fundamental health-care choice we have before us.

It doesn't end with the unborn either. We would all become a cost under governmental health-care and as such our deaths would work to the advantage of the system.

I would prefer my continued life to work to the advantage of the system, and it does so when the heath-care system has to fight for my dollars. It is to their advantage if I live to bring back more dollars later.

Of course, I have to be the source of those dollars. When I am not the source of the dollars I become a cost.

Should we be Bob Etheridge's health-care burden or a customer that supports the health-care industry?

I choose customer.





out

Rep, David Price -- Dissn' the Contitution...

polifrog





I suspect that our government schools failed David Price when they covered our Constitution, but how can a person have been so disengaged from society as to have missed being educated on the topic by School House Rock.





In the absence of an acceptable education David Price progressed beyond the limitations of checks and balances. David Price's Constitution goes like this....



...You'll be taxed and pay, against your will, but today I'm just a bill....


David Price, bad for North Carolina, and
Anathema to the Constitution and the United States.






out

David Price (NC-4) -- Rationing Health-Care

polifrog



We were told there was no rationing of health-care in ObamaCare. Politics.
Common sense said otherwise.




When the trust between producer and consumer is broken market distortions occur. Such is the case within the network of laws that is ObamaCare.

Within its pages health-care producers are no longer paid by end users and instead cater to those who do pay them, the more heavily regulated new arm of the government called insurance. The end users who are not required to pay only see free health-care, thus use more of it and use it more frivolously because dollar limitations no longer exist. This stresses supply and drives up costs. Simple and based on human nature.

The only way control way for costs to be controlled when the trust between provider and consumer or end user is broken is to ration the health-care we all receive. Government boards will necessarily do the rationing and when individuals die as a result of their decision not to provide care, then those boards can rightfully be called Death Panels.

A congressman who does not see this does not deserve to be a congressman. David Price not only joined his party in the denials of Death Panels, but lent his support for them with his vote in favor of ObamaCare. Even based on the most dismal of expectations David Price has failed to serve North Carolina and should loose his seat in November.

What is it about human nature that so befuddles David Price? This question alone should mark David Price as unfit to serve in congress.




out

Rep David Price (NC-4) Brad Miller NC-13 ObamaCare increasing the cost of healthcare...

..

Obama attempted to sell Americans on ObamaCare as a way to save money.
1)Cheaper for the individual.
2)Cheaper as a whole due to increased competition.
3)Cheaper due to Government Control.
4)Lowers costs by spreading the costs.

All the above contentions are untrue.

First, I will be among those who are forced to buy more health-care than I would otherwise buy as insurance. I prefer to purchase catastrophic insurance and cover my other health care costs as needed and this plan will increase my costs. I am not alone.

Second. Government competition is not competition. Governments have endlessly deep pockets and private businesses will not be able to compete. This increases costs for the nation as private alternatives are pushed out of the market leaving government as the only alternative. (Will government lament the lack of competition when they are the only provider.)

Third. Government control is another way of saying you will not get the care you want, but rather the care that is offered. Government controls, in the end, increase cost as efficiencies can't be as easily followed as one regulation or another precludes the efficient choices.

Fourth. Spreading the costs actually increase costs as the costs are not immediately born by the end user, but rather the a middleman (government) . The normal mechanism by which costs are controlled is broken by divorcing provider from end user.

The Department of Health and Human Services (RedState)...

We estimate that overall national health expenditures under the health reform act would increase by a total of $311 billion (0.9 percent) during the calendar years 2010-2019

Although several provisions would help to reduce health care volts growth, their impact would be more than offset through 2019 by the higher health expenditures resulting from coverage expansions.

Yahoo...

President Barack Obama's health care overhaul law is getting a mixed verdict in the first comprehensive look by neutral experts: More Americans will be covered, but costs are also going up.

And here..

As for the actual cost involved, the penalty will be the higher of either $695 or 2.5% of income. Effectively, those earning below $27,800 would pay the flat rate, and after that point would begin paying the percentage. Once a person earns more than $40,000, the penalty will exceed $1,000. At $59,000, it would reach $1,475.

And Kathleen Sebelius admits she is clueless as to how much the "High Risk Pools" will cost. Estimates are already beyond original expectations.

And lastly...



David Price's vote for this dishonestly promoted travesty should lead to his replacement.





polifrog

Rep. David Price (NC-4) -- Arguing Dishonestly for Health-Care Reform....

polifrog

From The Wall Street Journal we hear that Caterpillar Takes a Hit on Health Care...

Caterpillar Inc. said Wednesday it will take a $100 million charge to earnings this quarter to reflect additional taxes stemming from newly enacted U.S. health-care legislation.

Caterpillar was joined by John Deere in announcing their increased health care costs....

Farm equipment maker Deere expects after-tax expenses to rise by $150 million this year as a result of the health care reform law President Barack Obama signed this week.

These expenses are not ultimately born by the corporations. Whether it's a corporate tax, an environmental tax, a health car tax, or the cost of raw materials and labor, expenses are ultimately passed on to the consumer as increased prices for goods. Not only does this make the citizens of the US poorer,but In a global economy this makes American Corporations less competitive and when they are less competitive they provide fewer jobs. (See GM, Ford) This is yet another step in the great wind-down of America fostered by the progressive movement.


There is no free lunch nor is there free health care and running it through the gov. only exacerbates the costs. It seems that Obama believes otherwise. He even claimed that business would see a 3000% reduction in costs with the passage of his plan.


Leaving aside the ignorance in stating that something would reduce costs by over 100%, Obama lied. I realize that in a storm dishonesty one lie can seem inconsequential, but a lie is a lie and should be called out as such.

David Price supported this dishonesty, the lie that ObamaCare is a cost savings, with his vote for Obamacare.

North Carolina is better than David Price and his support for ObamaCare is an embarrassment for this state. David Price is an embarrassment for North Carolina.

Oust David Price as NC-4 from office this November.





out

Bob Etheridge (NC-2) -- Rationing Health-Care

polifrog



We were told there was no rationing of health-care in ObamaCare. Politics.
Common sense said otherwise.




When the trust between producer and consumer is broken market distortions occur. Such is the case within the network of laws that is ObamaCare.

Within its pages health-care producers are no longer paid by end users and instead cater to those who do pay them, the more heavily regulated new arm of the government called insurance. The end users who are not required to pay only see free health-care, thus use more of it and use it more frivolously because dollar limitations no longer exist. This stresses supply and drives up costs. Simple and based on human nature.

The only way control way for costs to be controlled when the trust between provider and consumer or end user is broken is to ration the health-care we all receive. Government boards will necessarily do the rationing and when individuals die as a result of their decision not to provide care, then those boards can rightfully be called Death Panels.

A congressman who does not see this does not deserve to be a congressman. Bob Etheridge not only joined his party in the denials of Death Panels, but lent his support for them with his vote in favor of ObamaCare. Even based on the most dismal of expectations Bob Etheridge has failed to serve North Carolina and should loose his seat in November.

What is it about human nature that so befuddles Bob Etheridge? This question alone should mark Bob Etheridge as unfit to serve in congress.




out

Rep. GK Butterfield -- Destroying the Economic Pact Between Consumer and Producer...

polifrog



When the consumer abdicates the power of consumerism to the government the end user becomes a cost of doing business.

What does this mean?

One of the greatest strengths inherent in being an American is the ability to vote with our dollars, Simply put, business do what they do to get our dollars. If they don't provide the service they don't get the dollars. Businesses do what they do well, they do it efficiently, or they fail. This simple concept is such an ingrained concept it has become taken for granted and, frankly, a bore to describe. But, all the same, it is an the source of miracles and has created one of the world's greatest most efficient economic powers the history has ever known.

Yesterday our socialist democrats have decided it best to kill one sixth of that miracle. They have taken from Americans our power to vote with our dollar when purchasing health care. In their distorted world view,they feel they should be the source of all dollars in the medical sector of our economy. The transaction is no longer defined as being between the provider and the end user, and instead has been redefined as between Gov. and provider. One sixth of the economy (health care) is now in business to make the Gov happy in an effort to get Gov. dollars.

This forces the health-care end user out of the transaction and relegates them to the powerless status of a business cost. That is, you and me---business costs.

GK Butterfield cast his vote in favor of an American Economic Spin-down




out

Rep. David Price -- Relegating the Citizenry to the Position of Business Costs Through Health Care Reform...

polifrog



Do we want a health-care system in which we are a cost,
-or do we want a health-care system that competes for our dollars?


Stupak:

What are Democratic leaders saying? “If you pass the Stupak amendment, more children will be born, and therefore it will cost us millions more. That’s one of the arguments I’ve been hearing,”

This is an insight into the fundamental health-care choice we have before us.

It doesn't end with the unborn either. We would all become a cost under governmental health-care and as such our deaths would work to the advantage of the system.

I would prefer my continued life to work to the advantage of the system, and it does so when the heath-care system has to fight for my dollars. It is to their advantage if I live to bring back more dollars later.

Of course, I have to be the source of those dollars. When I am not the source of the dollars I become a cost.

Should we be David Price's cost health-care burden or a customer that supports the health-care industry?

I choose customer.





out

Rep. Brad Miller NC-13 -- Fails in his support for our Constitution...

polifrog


Gun Issues

Date	Bill Title	Vote	Outcome
09/17/2008	Repealing Portions of the D.C. Firearm Ban HR 6842	N	Bill Passed - House (266 - 152)
09/26/2006	Bureau of Alcohol, Tobacco, Firearms, and Explosives HR 5092	N	Bill Passed - House (277 - 131)
06/28/2006	Trigger Lock Amendment H AMDT 1156	N	Amendment Adopted - House (230 - 191)
10/20/2005	Firearms Manufacturers Protection Bill S 397	N	Bill Passed - House (283 - 144)
04/09/2003	Protection of Lawful Commerce in Arms Act HR 1036	N	Bill Passed - House (285 - 140)

But he has a spokesman in Chris Matthews...






We don't need to know any other aspects of our constitution Brad Miller does not support or would like to reinterpret.

And if you disagree with Brad Miller....

He doesn't care...


Fire Brad Miller in November.



out

Rep Bob Etheridge -- An Extremist Practicing Immoral Governance

polifrog



Extremism. What is extremism?

Citizens siding, with liberty, with the Constitution, protesting government overreach or Rep. Bob Etheridge's last two years that have defined him as a practitioner of Governance through the tyranny of the majority?

Bob Etheridge voted in support of:

• --Cap & Trade --- ignoring conservative input and attempting to force poverty on the nation through higher energy prices. Immoral.
  
• --ObamaCare --- ignoring the input of the citizenry and conservatives and breaking the bond between consumer and health care producer. Immoral.
  
• --$13 trillion financial bailout --- ignoring the input of the citizenry and conservatives and passing the costs of bailing out current failure to unborn generations. Immoral.
  
• --Failed Stimulus --- ignoring the input of the citizenry and conservatives and wasting tax dollars by running them through a soulless government. Immoral.
  
• But voted against the Balanced Budget Amendment. Immoral.
  

Bob Etheridge has proven himself to be an uncompromising statist who ignores not only the opposite side of the isle but the citizenry and state he pretends to represent. One can not put 1/6 of one's home state's economy under the direct influence of the federal government and claim to represent their state.

How is it, then, that Bob Etheridge can feel comfortable with charging Renee Ellmers, a woman who sides with the Constitution, liberty and the value of American Heritage, of extremism? The answer is that Bob Etheridge has been swimming so long with Pelosi, Reid and Obama that has lost sight of the Constitution limitations, the needs of the state of North Carolina, and the people he represents.

It is truly sad where the immoral governance of Bob Etheridge has taken our nation.



out

Rep. Brad Miller (NC-13) -- Killing charity with taxes...

polifrog

The liberal's war on private charity continues. Governance does not want true and moral charity to compete and sit in contrast to the government's immoral version of charity.

As many as 400,000 nonprofit organizations are weeks away from a doomsday.

At midnight on May 15, an estimated one-fifth to one-quarter of some 1.6 million charities, trade associations and membership groups will lose their tax exemptions, thanks to a provision buried in a 2006 federal bill aimed at pension reform. ...

The federal legislation passed in 2006 required all nonprofits to file tax forms the following year. Previously, only organizations with revenues of $25,000 or more — or the vast majority of nonprofit groups — had to file.

As I have argued before, government charity is immoral...

Government taxes are increasingly crowding charity. Dollars that may have gone to The March of Dimes or to The Red Cross or may have been used by one individual to help another are instead absorbed by government. Compare the offices of any charity to the the offices of any Government program and ask yourself if the government's overhead is moral. Compare the way dollars are received by the recipient from the gov. to the way they are received from an individual and ask yourself which is more moral. We are witnessing the death of American charity and liberals call that moral.

out

Rep. David Price -- Forgetting the state he represents....

polifrog




North Carolina sent David Price to Washington to represent not just the interests of the people of North Carolina but the interests of our great state as well.

If David Price did anything to strengthen North Carolina it has been over shadowed by the incredible pain and loss of power he inflicted on our state and its people when he threw his support behind ObamaCare.

First off, North Carolina has power reserved to by the Constitution. In fact, all states have reserved to them all powers not explicitly defined as a Federal power. (Amendment 10 of the Constitution) Up until this point North Carolina controlled health care within its boarders and could tailor that care to suit the needs of the citizens of North Carolina if it so desired. David Price, though, denied our people and NC the authority to control health care within our boarders. David Price denied our state the ability tailer its health care system to it's specific needs. But even worse, David Price abdicated that authority to our distant and unresponsive federal government.

This is not the action of a man who represents our state. This is, rather, the action of a man who represents the interests of Washington, a Washington drunk on power and ever desirous of more. David Price supports funneling powers Constitutionally reserved to North Carolina and its people away from our state to Washington. David Price is an enabler of Washington's power drunken stupor and likely addicted to it himself.

The Health Care Industry represents 1/6 of the economy. Therefore, it stands to reason that 1/6 of NC economy was simply turned over to Washington by David Price. 1/6th of North Carolina's economy is no longer under the control of North Carolina and its people!

David Price does not represent the interests of North Carolina, but rather, the interests of Washington.

David Price's lust for Washington power is greater than his love for North Carolina. David Price harms North Carolina. David Price harms the citizens of North Carlina.

We need to force David Price home for some Washington power addiction rehab. this November.


out

G.K. Butterfield -- An Extremist Practicing Immoral Governance

polifrog


Extremism. What is extremism?

Citizens siding, with liberty, with the Constitution, protesting government overreach or G.K. Butterfield's last two years that have defined him as a practitioner of Governance through the tyranny of the majority?

G.K. Butterfield voted in support of:

• --Cap & Trade --- ignoring conservative input and attempting to force poverty on the nation through higher energy prices. Immoral.
  
• --ObamaCare --- ignoring the input of the citizenry and conservatives and breaking the bond between consumer and health care producer. Immoral.
  
• --$13 trillion financial bailout --- ignoring the input of the citizenry and conservatives and passing the costs of bailing out current failure to unborn generations. Immoral.
  
• --Failed Stimulus --- ignoring the input of the citizenry and conservatives and wasting tax dollars by running them through a soulless government. Immoral.
  
• But voted against the Balanced Budget Amendment. Immoral.
  

G.K. Butterfield has proven himself to be an uncompromising statist who ignores not only the opposite side of the isle but the citizenry and state he pretends to represent. One can not put 1/6 of one's home state's economy under the direct influence of the federal government and claim to represent their state.

How is it, then, that G.K. Butterfield can feel comfortable with tacitly charging Ashley Woolard, a man who sides with the Constitution, liberty and the value of American Heritage, of extremism? The answer is that he has been swimming so long with Pelosi, Reid and Obama that has lost sight of the Constitution, the state of North Carolina, and the people he represents.

It is truly sad where the immoral governance of G.K. Butterfield has taken our nation.

Rep. Brad Miller - Dressing Up Bank Giveaways as Saving Jobs...

polifrog


Brad Miller is at it again -- Dressing up Bank bailouts as jobs protection through an overtly friendly press.


Eastern Wake News:

Mortex owner Ed Morrell met with U.S. Rep. Brad Miller on Wednesday to explain how the U.S. Department of Agriculture's Rural Development office helped work out the details for a loan that kept his company afloat.

And this is how it was done...

Capital Bank's Triangle Region president Todd Warrick suggested the company and the bank work on an application to the USDA.

Under the terms of the deal, Capital Bank loaned Mortex $2.6 million on a 15-year note. They loaned the company another $500,000 on a 10-year note. The bank also extended a $750,000 line of credit, which Morrell says he does not plan to use. The loans are collateralized by the buildings and Morrell's personal savings.

Mortex didn't borrow any money from the government, a point Morrell made Wednesday in a meeting with employees. The deal calls for the USDA to guarantee 80 percent of the loans.

That means if Mortex defaults, the USDA would pay Capital Bank 80 percent of the loan balance.

And because the loans are fully collateralized, Capital Bank's exposure is limited.

That puts the pressure on Morrell and his family, which owns the privately-held company.

"(Morrell's wife) Kissie and I are on the hook," Ed Morrell told employees Wednesday. "If we fail, we lose everything we have."

Wouldn't you like to be Capital Bank in this transaction?

• Make a loan that is fully collateralized.
• Make interest on a no-risk loan due to an 80% back-stop on losses. In this case the loans total $3.1 million (credit lines do not qualify for the USDA 80% back-stop).
  

The interest rate of a loan is usually based on the risk of the loan. In this case the loan is fully backed with assets plus, in the event of default, coverage for 80% of the losses in the loan value. Where is the risk? There is none, yet the bank presumably charges interest. The interest rate is not given in the article, but business loan interest rates are generally quite a bit higher than home loans. In any event, interest charged on a risk free loan above 3% (estimated cost of loan administration and profit) is a government subsidized giveaway to the banks. The interest rate charged by Capital Bank is certainly much greater than 3%.


--This is a possible win for employees of Mortex, if Mortex doesn't fail.
--This is an absolute win/win no risk event for Capital Bank, whether Mortex survives or not.
--Supporting a weak business in a dying industry on the backs of taxpayers is a no win for America.


But how did Eastern Wake News report all this in the opening paragraph?

More than 600 people in Nash, Johnston and eastern Wake counties still have jobs thanks to provisions in a federal stimulus package that loosened underwriting rules for loans to companies in rural areas.

Brad Miller added:

"If you hear of people who say the stimulus package never saved a job, you can look at them and tell them it saved yours," Miller said.

It must be nice having friends in the press who are willing to throw reputation to the wind for the cause of your election.

Imagine the influence, though, -- Mortex beholden to government, Capital Bank beholden to government handouts, employees beholden to Brad Miller, and government under pressure of a $3.o8 million payout to keep Mortex from failing.

Now imagine weakened business across America taking advantage of such loans and the government giveaway (whether the business defaults or not) to Brad Miller's Bank friends at the expense of the productive class. Risk is for the little people not for the Miller's friends at the banks. Meanwhile Brad Miller dresses up this fleecing of citizens as a jobs saver. Immoral governance.

Are these connections likely to end in economic vitality, or or will they result in increased government influence for the ruling class and a loss of influence for the citizens of America?

Lastly, this sort of activity is what got America into the over leveraged position it that currently plagues our economy. According to this USDA Rural Development PDF this program "allows lenders to make loans above their legal lending limits".

Why does Brad Miller want the citizens of this nation indebted to his Big Bank Friends while protecting those same banks from all risk?

---

As an aside, a few questions have to be asked.

• Just how bad do the banks expect to economy to get that they require an 80% back-stop on fully collateralized loans before considering going forward?
  
• Just how bad does our government think things might get that they agree to this %80 back-stop?
  
• And finally, is inflation considered in measuring losses on these? A bout of inflation would not only increase the likely hood of default but it would run up the losses that could be counted against the %80 back-stop.

Thank You Brad Miller.


out