With all the focus on AIG executive bonuses, the larger deficit picture is being ignored. The Congressional Budget Office (CBO) has predicted the Obama administration’s policies will generate deficits averaging nearly a Trillion dollars a year over the next decade. AIG bonuses were totaled at $165 Million and AIG received $182.5 Billion from the government bailout. The President and the Congress outraged by these bonuses, yet don’t seem to be equally outraged by the size of the deficit. Compare the size of the numbers. A Trillion has 12 zeros, whereas a million has 6 zeros after it. Consider that last year’s deficit was only $459 Billion, the largest on record, will now top $1.8 Trillion. A Trillion is a 1000 Billions. This is unsustainable because the national debt will grow too rapidly.
Listen to Rep. Thaddeus McCotter slamming AIG stimulus protections passed in partisan stimulus bill
Congress Puts Bonuses in the Bailout Bill and Passed It
The Congress and the President don’t seem to care about the size of the deficit, but they are angry about executive bonuses? The size of the deficit should be alarming to everyone because this will affect everyone for years to come. Those of you that have children will be paying this off for years, and your children’s children and their grandchildren will be paying this off for years. Besides focusing anger at executives, the Congress passed a dangerous precedent of taxing the executive bonuses by 90 percent. This is a MOB mentality that will open the flood gates for Congress to tax anyone they deem unfavorable. Congress allowed the bonuses to be written into the bailout bill. What are our elected officials doing? Do they even read the bills they are passing? Why are we paying their salaries for incompetent work?
Now that the government owns 80 percent of AIG, are we expecting our government to run AIG’s business like they run their own business? Our country is being misled. We are being robbed by our own government. The same people who took campaign funds from AIG are in charge of running our government. As our President used to say on the campaign trail, “this is just another distraction”, and it is. AIG is a distraction, away from the larger picture, the deficit.
Steam Rising from the Pu’u ‘O ‘O Vent at Kapoho
People should be streamed about what the Congress and the President is doing. AIG should not be the focus of anger since these contracts were in place before AIG accepted the bailout money. What’s worst is the government’s attention on the executives that received the bonuses have brought death threats against the executives and their families. This pitch fork mob mentality is dangerous. Not just because of the violent threats against people, but the atmosphere that will be created. If you demonize a business, you destroy that business. Who will want to work for AIG? What will happen to the billions of our tax dollars used to bailout AIG if AIG employees are too fearful for their safety, and their families safety, to work for the company?
When has being Paid Too Much Greed?
What’s for Dinner?
Teriyaki Glazed Pork Loin with Grill Asparagus and Steamed Jasmine Rice