Clearly, the position fraught with the most peril and liability has to be the chair person of the individual political party national committees. Many times I felt sorry for Michael Steele and the menu he was forced to peddle with the RNC(funny, but I never felt sorry for Howard Dean, maybe because he appeared so despicable to begin with) but the poster child for future photos on the back of milk cartons has to be Debbie Wasserman-Schultz. She loses some sympathy given her fawning/genuflecting/ prostrating positions she uniformly puts herself in when even the mere mention of Obama’s name (some people actually do believe unicorns fly out of Obama’s butt, lucky unicorns that they are), but to be put in to a position of having to constantly defend his antics? She gives new meaning to the term “foot soldier”. Check out some of yesterday’s scrambling to make sense of it all:
Debbie is right about one thing, the president is NOT responsible for business decisions that were made in house that affected the viability of Solyndra as a profitable company. He was not the CEO, the CFO, a board member or even the head accountant that audited their books. There is no doubt that proper level of due diligence was lacking within the DOE in vetting Solyndra, but now that is water under the bridge.
But this whole “layoffs caused by Bain Capital” is a red herring anyway and Debbie should be smart enough (I know, her intelligence has always been questioned) to avoid this obvious pitfall. This is what private equity/venture capital firms do, they invest share holder money in companies that have the potential to make their share holders a profit, and they take over struggling poorly run companies for the purposes of either turning them around (making them profitable again) or breaking them of for parts Gordon Gecko style. Romney worked for BCG and Bain in that capacity, that was his job, nothing nefarious here. Some companies survived and they hired folks, other companies didn’t and their employees were let go, the free market system at work.
But the distinction can be made that whatever Bain did, it did with private dollars, Solyndra OTOH got taxpayer backing, so Romney/Bain’s actions and business practices did not cost me money, not so with Solyndra.
I hope Debbie is at least getting some quid pro quo for all this falling on sword she is doing for her messiah, but I think she will go the way that her brethren have gone before her, relegated to the trash heap of other chairs, never to heard from again.
What you ask? Well, that the real problem is the financial obligations to keep up the socialist bullshit:
When adding in all of the money owed to cover future liabilities in entitlement programs the US is actually in worse financial shape than Greece and other debt-laden European countries, Pimco’s Bill Gross told CNBC Monday. Much of the public focus is on the nation’s public debt, which is $14.3 trillion. But that doesn’t include money guaranteed for Medicare, Medicaid and Social Security, which comes to close to $50 trillion, according to government figures. The government also is on the hook for other debts such as the programs related to the bailout of the financial system following the crisis of 2008 and 2009, government figures show. Taken together, Gross puts the total at “nearly $100 trillion,” that while perhaps a bit on the high side, places the country in a highly unenviable fiscal position that he said won’t find a solution overnight.
Lets’ break this revelation down…
Current US debt, yes, the same one Obama wants raised pronto so the left can keep spending like it’s other people’s money, is at $14.3 trillion. That’s the debt the Chinese recently accused us of already defaulting on. But that debt figure seems dwarfed by the $50 trillion in guaranteed Medicare, Medicaid, and SS outlays of $50 trillion! And that’s according to the government’s own numbers, which means you can likely double that freaking number based on past performance. $50 trillion! Wow? Is this adjusted for Obamacare? I bet not.
Then we have the bailout of the financial sector for which we get no details or numbers. Wonder how much of that is money we had to pay because the democrats wanted to play Santa Claus with homeownership, directly to the financial institutions that put their necks on the chopping block giving loans to bad risks, and how much more to bail out Freddie & Fannie, which they used to launder the shitty loans through before sending them to be auctioned for primo dollars on the credit default swap market? Last I heard Freddie & Fannie are going to stick us with anywhere from $1 to $65 trillion, but Gross seems to think the number is in the high thirty trillion from that $100 trillion debt obligation. This is scary stuff!
To think that we can reduce that within the space of a year or two is not a realistic assumption,” Gross said in a live interview. “That’s much more than Greece, that’s much more than almost any other developed country. We’ve got a problem and we have to get after it quickly.”
Worse than Greece? Ouch! And I cry bullshit! Debbie Wasserman-Shultz says president Obama has turned the economy around! Nothing to worry about people. All is peachy.