Campaign 2010

Countdown to Congressional Elections


The most effective way to restrict democracy is to transfer decision-making from the public arena to unaccountable institutions: kings and princes, priestly castes, military juntas, party dictatorships, or modern corporations.
Noam Chomsky, M.I.T. emeritus Professor of Linguistics

The Rise of Corporate Freedom of Speech

(Surpassed 2008 total on August 18)

See Weekly Spending Totals

$2.9 Billion Spent in 08
on Congressional Race
See Major Contributors

Corporate money in politics is bad enough. Secret corporate money is intolerable.


Primary Election Results
(UPDATED: August 25, 2010)






"The Great 2010 Incumbent (Non-)Revolt"

Senate Primary’s
Incumbent Democrats
1 Loss; 6 Wins of 13
Incumbent Republicans
1 Loss; 9 Wins of 12

House Primary’s
Incumbent Democrats
2 Loss; 182 Wins of 245
Incumbent Republicans
2 Loss; 140 Wins of 158

General Election Candidates

Senate

House of Representatives

Visual Facts

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Click Image for Larger Size.

National Debt Clock

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WHEN Did You Become Fiscally Responsible?
BEFORE Obama or AFTER Obama??
January 20, 2009
$10,838,758,414,164.46 - ↑90%
Discretionary Spending at 48.6%

January 20, 2001
$5,719,124,940,098.04 - 36%
January 20, 1993
$4,192,107,025,882.17 - 62%
January 20, 1989
$2,601,104,000,000.00 - 189%
January 20, 1981
$909,041,000.000.00

Click Image for Full Size


Debt by President

Are You A Tea Party Hyprocrite??

(Click for Debt Details)

United States of Corporations

Thanks to the GOP's Supreme Court
(Click Flag for Full Size)
Corporate Bill of Rights

Quotes and Links

Hover to Pause
(Look for the Listings)

The Decade When the U.S. Lost Its Way

Where Have All the Neocons Gone?

From Neocons to Crazy-Cons

America Builds an Aristocracy

Supreme immodesty: Why the justices play politics

The Biggest Medicare Fraud Ever

Enough Right-Wing Propaganda

Tax Rate for Richest 400 Taxpayers Plummeted in Recent Decades, Even as Their Pre-Tax Incomes Skyrocketed

"The financial reform bill will determine whether Wall Street’s banks will serve the American economy or whether the American economy will continue to serve Wall Street's banks."

"While the economy doesn't function for most of us ordinary workers, it yields considerable reward for those at the top."

Republicans Are Locked in a Passionate Embrace with a Corpse and Won't Let Go

"The most important thing Republicans think is that if there are Americans who can't afford the insurance policies that private insurers are willing to offer, then that's their problem."

"It should tell you everything you need to know that, in lobbying to retain its bank supervisory powers, the Fed's allies include the big Wall Street banks."

"[Texas Republican Jeb] Hensarling told a Texas-size whopper — and then tried to claim Republican credit for Bill Clinton’s budget surpluses."

"The Supreme Court's 5-to-4 decision last week giving American corporations the right to unlimited political spending was an astonishing display of judicial arrogance, overreach and unjustified activism."

"It was wrong because nothing in the First Amendment dictates that corporations must be treated identically to people."

"They backed the truck up to Fort Knox in broad daylight. They emptied it out, we rescued them and they get $150 billion in bonuses."

"A huge, unregulated boom in which almost all the upside went directly into private hands, followed by a gigantic bust in which the losses were socialized."

So You Just Squandered Billions . . . Take Another Whack at It

Banks 'Too Big to Fail' Have Grown Even Bigger

Bankers' bonuses Beat Earnings as Industry Imploded

U.S. Rescue May Reach $23.7 Trillion

The Bank Bailouts — Corporate Welfarism

New Evidence Cheney Swayed Reaction to Leak - Valerie Plame

Once Again, The More You Watch Fox The Dumber You Are

"Over the past year, the Federal Reserve and the Treasury have injected trillions of dollars into frozen financial markets, snapping up unwanted bonds, extending guarantees to banks and slashing interest rates."

Building a Better Capitalism

The End of Supply Side Economics

The Great Wealth Transfer

The Richer

Who Rules America? Power, Politics, and Social Change

Proponents of Estate Tax Repeal Are Resurrecting Old Misconceptions

Income Gaps Between Very Rich and Everyone Else More Than Tripled In Last Three Decades

Ending Plutocracy: A 12-Step Program

Our Gilded Age

The Rich and the Rest of Us

GOP's "Small Government" Talk is Hollow


Distortions, Hypocrisy & More

"I'm not upset that you lied to me; I'm upset that from now on I can't believe you"
Friedrich Nietzsche
[Hover to Pause]

Today is

December 3, 2009

Taxpayers Guarantee Loans For Million-Dollar Homes

December 3, 2009

FHA ApprovedThere are 1,192 federal domestic programs. Hundreds of these programs were born out of a need to assist the less fortunate of the country, and initiated by lawmakers for a variety of reasons, the least not being a desire to make constituents happy enough to re-elect the lawmaker. But dozens of these programs have been modified over the years to assist “well-to-doers”. One of those is the Federal Housing Assistance (FHA) program.

The FHA falls under the Department of Housing and Urban Development, and was put into place in 1934 as a result of the Great Depression to help the needy and down-trodden. Wiki defines its goals as “to improve housing standards and conditions; to provide an adequate home financing system through insurance of mortgage loans; and to stabilize the mortgage market”. FHA HomeBut today the program is used to help people purchase homes up to three-quarters of a million dollars. And if you want to buy a multi-unit housing building, you can finance one that cost up to a $1 million with a guarantee through the FHA.

The Washington Post describes it as “Washington’s latest benefit for the not-so-poor”. The New York Times tells us that the FHA is helping “investors and well-off people”, and they cite a 27 year-old man so down on his luck he had to borrow money to move to California where he and couple of buddies bought an apartment building for nearly $1 million with FHA assistance. Condo’s that cost more than $500,000 are being financed with FHA backing.

The FHA is about broke due to so many loan defaults, yet they can see their way clear to loan people enough money to buy million-dollar investment properties. And guess where the money will come from when the loans go sour? Yep, you’re right! Me, you and the rest of the tax payers.

Now! According to an article yesterday by The Washington Post, the FHA plans to “toughen [the] rules for borrowers”, meaning that buyers will have to ante-up larger down payments. Other requirements and restrictions will also be put in place. But there’s a fundamental problem with all of this — why should the FHA be guaranteeing loans for any of these people. The FHA is a federally financed (by taxpayers) entity designed to help the less fortunate; not the well-to-doers. Yet, I suppose the precedent has been set — trillions of taxpayer dollars to the wealthy on Wall Street and across the rest of America, so what’s a few hundred thousand for the un-needy (and maybe the un-deserving).

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