Barney Frank vs Harvard student

Posted on April 7th, 2009 by bile
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His voice and attitude are so grating. Have you heard him in the House committee chambers?

The student could have better educated on the topic or at least more forceful. When dealing with a politician you must stand your ground and when it’s one who is so disconnected from reality it’s even a greater necessity.

House of Representatives passes GIVE act

Posted on March 18th, 2009 by bile
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The House of Representatives passed a measure Wednesday that supporters are calling the most sweeping reform of nationally-backed volunteer programs since AmeriCorps. But some opponents are strongly criticizing the legislation, calling it expensive indoctrination and forced advocacy.

The Generations Invigorating Volunteerism and Education Act, known as the GIVE Act — sponsored by Reps. Carolyn McCarthy, D-N.Y, and George Miller, D-Calif. — was approved by a 321-105 vote and now goes to the Senate.

The legislation, slated to cost $6 billion over five years, would create 175,000 “new service opportunities” under AmeriCorps, bringing the number of participants in the national volunteer program to 250,000. It would also create additional “corps” to expand the reach of volunteerism into new sectors, including a Clean Energy Corps, Education Corps, Healthy Futures Corps and Veterans Service Corps, and it expands the National Civilian Community Corps to focus on additional areas like disaster relief and energy conservation.

It is the first time the AmeriCorps program, which was created by President Clinton in 1993, will be reauthorized, and supporters say it will have additional funding to match the renewed interest in national service since President Obama’s election and the acute need for volunteerism and charity in tough economic times.

“National and community service can help make Americans a part of the solution to get our country through this economic crisis. I hope the House and Senate will join us in moving as quickly as possible to help President Obama sign this critical bill into law,” Miller, chairman of the education committee, said after the bill was passed.

But the bill’s opponents — and there are only a few in Congress — say it could cram ideology down the throats of young “volunteers,” many of whom could be forced into service since the bill creates a “Congressional Commission on Civic Service.”

The bipartisan commission will be tasked with exploring a number of topics, including “whether a workable, fair and reasonable mandatory service requirement for all able young people could be developed and how such a requirement could be implemented in a manner that would strengthen the social fabric of the nation.”

“We contribute our time and money under no government coercion on a scale the rest of the world doesn’t emulate and probably can’t imagine,” said Luke Sheahan, contributing editor for the Family Security Foundation. “The idea that government should order its people to perform acts of charity is contrary to the idea of charity and it removes the responsibility for charity from the people to the government, destroying private initiative.”

House committee staff insist the GIVE Act will not change the voluntary nature of service.

Not change the voluntary nature? Note they ignore where the money comes from. Seems reasonable to me that if they claim ownership of 50% of my labor passively through taxation there is no philosophical jump required to claim 100% of my labor or force me to ‘serve.’

Looks like this is the first real step to national state slavery. They’ve already got plenty of mandatory service plans ready to impliment. This is really little more than a formality.

Proposal Would Require Gun Owners To Carry $1M Insurance

Posted on February 25th, 2009 by bile
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Illinois could be the first state to require gun owners to take out a million-dollar insurance policy – if a proposal in the state legislature becomes law.

The bill in a state House committee would require any registered gun owner to have $1 million in liability insurance to cover damages due to negligent or willful acts with the weapon.

Kevin Martin, executive director of the Illinois Insurance Association says he’s never seen such a plan like the one sponsored by Rep. Ken Dunkin, a Democrat from Chicago.

Martin says the unprecedented measure seems to be simply a deterrent to gun ownership.

And, he says it would also be a risky policy because there are too many unknown variables in underwriting something like that.

Despite the fact that the bill would mean more business for his clients, Martin says insurers usually have strong reservations about proposals to mandate coverage.

Representative Dunkin did not return WBBM’s calls for comment.

That’s a great trick Rep. Dunkin. By that logic they should also require insurance for all aspects of one’s life. Especially with regard to vehicles. No more requiring insurance just to drive. You must have it to have a car.

Greenspan continues to pass the buck

Posted on October 23rd, 2008 by bile
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Former Federal Reserve Chairman Alan Greenspan told a House committee Thursday that the nation will emerge from the current credit crisis with a “far sounder financial system.”

“We are in the midst of a once-in-a century credit tsunami,” Greenspan told the House Oversight and Reform Committee.

Greenspan said that whatever regulatory changes are made to respond to the crisis, “they will pale in comparison to the change already evident in today’s markets.”

Because of their hard-won experience, markets “will be far more restrained than would any currently contemplated new regulatory regime,” he said.

“Investors, chastened, will be exceptionally cautious,” he added.

In opening statements, Rep. Henry Waxman, D-Calif., committee chairman, said the current economic crisis could have been prevented “if regulators had paid more attention and intervened with responsible legislation. The list of regulatory mistakes and misjudgments is long and the cost to taxpayers and the economy is staggering.”

Waxman put Greenspan on the spot, asking if he made any mistakes during his tenure as Federal Reserve chairman that may have contibuted to the mortgage crisis.

Greenspan said he made a mistake in presuming that lenders themselves were more capable than regulators of protecting their finances. He said he was “shocked” when that system “broke down.”

“I still do not understand exactly how it happened,” said Greenspan.

Perhaps he should talk to Ron Paul and Austrian school economists then. This guys a joke.

Ron Paul calling for hearings on falling dollar’s impact on oil prices

Posted on July 3rd, 2008 by bile
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In the face of $4 per gallon gasoline and predictions the price will rise to $7 by the end of summer, Congressman Ron Paul (R-Lake Jackson) is calling on Congress to explore how the weakened value of the dollar may be contributing to the rise in oil prices.

Paul, whose 14th Congressional District of Texas includes part of the Katy area and much of Cinco Ranch, said he wants Congress to hold hearings on the relationship between the falling value of the dollar and the recent rise of oil prices.

As ranking member of the House Subcommittee on Domestic and International Monetary Policy, Paul sent a letter earlier this week to Rep. Barney Frank (D-Mass.), chairman of the House Financial Services committee, asking for the hearings.

“The price of oil is currently among the most pressing issues to American workers,” Paul said. “Congress should be examining all factors contributing to the high cost of oil, and monetary policy is one of the key factors in the run-up in price.”

Paul’s letter pointed out that the price of oil in dollars has risen 39 percent this year. Oil in Euros has only risen 30 percent, resulting in degraded purchasing power of the dollar of at least 80 cents of the increased price of a gallon of gas.

“Neither the Federal Reserve nor the Treasury Department have been willing to take responsibility for the dollar’s slide over the past several years, while American consumers have been forced to pay continually higher prices for gasoline, heating oil and numerous other imported products upon which Americans depend,” Paul noted in his letter. “American consumers cannot afford to allow continued lax Congressional oversight of the Federal Reserve and the Treasury Department’s duties as stewards of the dollar, especially since the dollar is a major factor in the skyrocketing price of oil.”

Besides himself, 16 other Members of Congress signed on to the letter, including ranking member of the House Committee on Financial Services Spencer Bachus, and Chairman of the Republican Study Committee, Rep. Jeb Hensarling.

Hopefully DownsizeDC will get something going on this. If anything this could be an educational tool for those who would be participating. The more congress critters who understand economics, even a little bit, the better.