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JimVanMeerten (63.05)

Stop the bus -- I want off!

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April 19, 2010 – Comments (4)

The Financial Tide has become the Red Tide. There was a line in the Pogo comic strip: " We have met the enemy....and he is us!" What scares me the most is that all this deficit spending that is going on at the local, state and federal level all has to come from the same pocket book -- mine! I was watching one of the Tea Bagger rallies on TV and a woman had a poster with the picture of a baby and the caption:" I'm only 6 hours old and I'm already $46,000 into debt"

Back in the first quarter of 2007 when the stock market was down and looking like it was going to continue downward for a while, I personally started cutting back. I moth-balled my credit cards and begin to use only my debit cards. If I didn't have the money, I didn't buy it. My government seems to have never gotten the word.

All I hear is how they are considering trimming next years budget. How about this years budget? I've asked my friends that work for "the Man" if they have been asked to cut back. They all say no. They have been told if it's budgeted go ahead and spend it.

Here in Charlotte we are talking about laying off teachers, police, firemen and EMTs but we are still going ahead with highway beautification projects, side walks and even a trolley to a mall that is in foreclosure because they were already budgeted. People are being let out of jail to keep costs at the courthouse down.

Hey you guys in government! Many are unemployed or under employed so income tax revenues are down. Retail spending is down so sales tax revenues are down. Property values are down, people are filing for downward reassessments and foreclosures up so property tax revenues will be down.

When will my government at all levels stop spending like a drunken sailor? Does anyone have the number of the local Tea Bagger chapter?

I'm not sure what I as an individual can do, but I've got to do something. That's my money they are spending. Wait a minute -- They are writing IOUs and signing your name and mine. Did you give permission for someone to sign IOUs for you, I know I didn't.

Can anyone in government give me a definition of "fiscal responsibility". Let's hear your ideas.

Jim Van Meerten is an investor who writes here and on Financial Tides. Please leave a comment below or email JimVanMeerten@gmail.com.

4 Comments – Post Your Own

#1) On April 19, 2010 at 3:34 PM, SUPERMANSTOCKS (59.96) wrote:

Jim,

 

I wouldnt worry and be so much in panic. This morning everything looked confusing to me also. Im still in the game and dont plan on quitting now.

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#2) On April 19, 2010 at 4:37 PM, outoffocus (22.90) wrote:

I didnt give permission but unfortunately someone else with a louder voice did.  The squeaky wheel always gets the oil. People wanted healthcare reform.  They didnt care how they got it.  People wanted the financial crisis to be over, they didnt care how it happened.  People wanted to be bailed out of their mortgages, they didnt care who paid for it or even how it was paid for.  Simple fact is we get the government we deserve.  Our government spends like a bunch of drunken sailors because the people spend like a bunch of drunken sailors.  People who save and live within their means are the minority in this country.  So when a saver proposes an economic or fiscal policy that requires fiscal restraint, they are demonized by both the "left" and the "right".  I can't see myself joining the teabaggers because it seems like only a relative few of them care about the overall health of the country and the rest are just a bunch of Fox News groupies.

I'll be convinced we will see true change in this country once the people wake up and realize the government cannot be their God.

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#3) On April 19, 2010 at 4:48 PM, ChannelDunlap (< 20) wrote:

I was watching one of the Tea Bagger rallies on TV

Eehhh, ya just lost me.  Though it's kind of funny that even a seeming supporter calls them the tea baggers instead of the tea party.  Small victory for the opposition, I suppose; that moniker catching on to the extent it has.

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#4) On April 20, 2010 at 8:34 AM, JimVanMeerten (63.05) wrote:

I've actually gone to a Tea Party rally and saw many hang tea bags from their hats

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