Readings:  

Obama: The Worst President Ever! - Canada Free Press

Obama And Plummeting Military Morale - American Thinker

Obama's Malpractice - Newsweek

The Most Sinister Of Motives - Investor's Business Daily

Today's PC Army - Pittsburgh Post-Gazette

While Obama Dithers, Iran Makes Its Move In Afghanistan - American Thinker

Look Who’s Upstaging Obama In China! - Canada Free Press

Video of the Day:

Cartoon of the Day:

Rubio keeps racking them up as Republicans send a clear message to Governor Crist - you are not our candidate. The Orlando Senintel reports that Marco Rubio won the Orange County Republican County straw poll with 89% of the vote (211 for Rubio and 27 for Crist).

Other conservative candidates also won big in Orange County. The Orlando Sentinel reports:

Among other closely-watched races, businessman Matthew Falconer beat out fellow Republican Mildred Fernandez in the GOP field for county mayor -- 127 to 70.

Attorney and talk radio host Todd Long won big in the congressional primary to take on U.S. Rep. Alan Grayson, D-Orlando, with Tea Party activist Patricia Sullivan of Lake County in not-so-close second place.

I believe this grass roots movement to make local Republican Party officials listen to the conservative base it broader and deeper than many expected in Florida. The "movement" is not only playing out in state wide primary races like Rubio/Crist for U.S. Senate but also in local races like Falconer/Fernandez for Mayor of Orlando. The question: Is the party listening or pointing a deaf ear to the conservative primary voters?

I spoke recently with Joe Gruters the Chairman of the Republican Party of Sarasota (RPOS) about holding a straw poll. Joe said he and the RPOS Executive Board believe straw polls violate Republican Party of Florida rules. Recently the Republican Club of South Sarasota County broke ranks with the County party and held a straw poll that Rubio won handily. I asked Joe about this and he said, "what's done is done and that is behind us now. We must unite the party to win in 2010." However, straw polls are being held across the state in violation of these same rules Joe quoted to me. Clearly, some key local party chairs see a greater advantage in holding them, the rules be damned. Whether this is a grass roots fire or just a spark remains to be seen. Holding up a rule book to party activists is like holding up a red flag to a bull or elephant, in this case.

Polls can mean alot, even straw polls.

On November 5, I wrote of the statements that Charlie Crist made denying that he ever supported Obama's $787 billion stimulus bill in his role as Florida's Governor. Unfortunately for his obfuscation, though, I noted that he and 17 other governors signed a letter in February of this year announcing support for the Stimulus. Apparently Crist forgot that he signed this letter... conveniently. Yes, he was for the porkulus bill before he was against it.

Well now there is even more proof than that mere signature on a piece of paper showing Charlie's support for the porkulus bill. From Ed Morrissey we find an interview that Rolling Stone hackster Tim Dickinson did with Crist back in the spring. In that piece Dickinson was celebratory that Crist was a stimulus supporter.

Dickinson then noted, "For his part, Crist is weighing a run for the Senate — where, he tells Rolling Stone, he would have given the president a fourth Republican vote on the stimulus bill."

Due to the controversy of whether Crist did or didn't support the Obama Administration's bill, Dickinson recently posted a transcript of the actual exchange:

Rolling Stone: Just a final question: Had you been in the Senate, would you have voted with the other Republicans for the stimulus package?

Crist: Absolutely.

This all adds more to the story I reported on Nov. 5. As I said, Crist has lately been saying that he didn't support the stimulus in particular, but that he did in spirit. Charlie Crist absolutely did, however, support Obama's stimulus directly and in particular. His current spin to the contrary isn't just a subtle re-reading of his actions. His new claim is an outright lie.

It all adds up to an outing of Charlie Crist on porkulus. Sorry Charlie, but you did support the $787 billion pork bill before you tried to claim you didn't.

Readings:  

NYC To Obama: No You Won't - TownHall

Whither The Dither - Inside the Beltway

Obama's Swelling Ego - The Boston Globe

Same Old, Same Old At Fort Hood - Investor's Business Daily

Let's Just Go Ahead And Say It...America Is Targeting Muslims! - Neal Boortz, Nealz Nuze

A Risky Proposition For Democrats - The Weekly Standard

President Obama's Trade Failure - The Heritage Foundation

Video of the Day:

CNBC and the One World Order

Cartoon of the Day:

Many pundits believe the takeover of banks and the housing industry began with the passage of the Troubled Asset Relief Program or TARP bill on October 3, 2008. Actually, it began well before that with the passage of the Housing and Economic Recovery Act (HERA) which was signed into law on July 30, 2008. HERA is used today by the Sarasota County Commission, the local agent for the HERA federal program, to purchase foreclosed homes. This is affectionately known as the Neighborhood Stabilization Program or NSP 1.

So you may ask why Sarasota County is buying “toxic assets” using your and my tax dollars via NSP 1. For the same reason Governor Crist and the Republican led Florida legislature took federal stimulus dollars: they went along to get along, and to get re-elected. Giving away something for nothing always gets votes. Can you imagine any politician standing on principle and refusing to take federal tax dollars to fund a program that leads to the purchase of loans that banks would never consider? No?

NSP 1 sounds exactly like what caused the meltdown in our financial markets in the first place! And we are still doing it to the tune of $7.1 million is Sarasota County alone. Among the forty-eight Florida counties and cities who recieved HERA funds are: Broward County - $17.7 million; Hillsborough County - $19.1 million; Jacksonville/Duval County - $26.1 million; Palm Beach and Orange Counties over $27 million each and Dade County with $62.2 million.

I had a long conversation with Susan Scott, Deputy Administrator for Sarasota County. Susan is an expert on this program. According to Susan this is how it works:

• Before TARP the Congress was concerned about the rising number of foreclosures, particularly in four states: California, Arizona, Nevada and Florida. They passed HERA to provide federal funds to buy foreclosed homes.
• Sarasota County received $7.1 million under HERA.
• The rules established allowed Sarasota County to purchase bank owned properties in designated areas with high foreclosure rates – North Port being a prime example.
• The City of Sarasota and City of Venice did not qualify for HERA funds because they were too small. However, the City of Sarasota has asked for $23 million in ARRA (stimulus dollars) funding to do something similar.
• The properties are purchased at the current appraised value and Sarasota County may repair/upgrade the home to make it more efficient, not to exceed a total cost of purchase and repairs of $150,000.
• The process is Sarasota County buys foreclosed properties that cost under $150,000 and then sell or rent the property to a low to moderate income family.
• There is no down payment, government is the bank of record and government may cover up to 50% of the purchase price of the home with a government backed interest free 2^nd mortgage.

This all sounds wonderful until your realize this $7.1 million is not available to those who are good mortgage risks. As Henry Hazlitt points out in his book "Economics in One Lesson":

". . .[T]he net result of government credit has not been to increase the amount of wealth produced by the community but to reduce it, because the available real capital has been placed in the hands of the less efficient borrowers rather than in the hands of the more efficient and trustworthy [borrowers]. . . This means that bureaucrats should be permitted to take risks with taxpayer's money that no one is willing to take with his own."

Sarasota County does not own the property, however, if the person buying one of these foreclosed homes for say $100,000 can only get a bank loan for $50,000, Sarasota County will carry a 2^nd mortgage for the remaining $50,000. So, in effect, the County owns the home should it go into default.

Sarasota County manages the NSP 1 program via the Office of Housing and Community Development, which is lead by Don Hadsell. Don actually works for the City of Sarasota, Florida.

The three areas of Sarasota County receiving the bulk of these funds are New Town (a predominantly black community), North Port (with a large Russian/Ukrainian population) and some areas with a high concentration of seniors.

After thinking about HERA and NSP 1 I began to realize that what we are doing is subsidizing failure and not rewarding success. My wife and I have worked hard to purchase our modest home. We put our savings up as a down payment, made all of our mortgage payments on time and finally, after 19 years, own our home. My wife and I are being punished for doing the right things. Our tax dollars are being used to finance homes for people who cannot qualify for a loan to cover the entire purchase price of their home.

What HERA/NSP 1 does is compete with local banks by giving loans to those who cannot qualify for the purchase price of the home; HERA/NSP 1 provides government backed home second mortgages for up to 50% of the purchase price at 0% interest which banks would not do; HERA/NSP 1 provides funds to fix up the homes; and finally, HERA takes homes off the market so investors can’t take advantage of the low purchase price. All of these destroy the local real estate market and free market system.

In the final analysis, NSP 1 devalues my home, provides loans to poor credit risks and uses my tax dollars to do it. I not only go unrewarded for my good fiscal behavior but end up being punished and forced to subsidize those who made bad fiscal decisions.

This is Marxism in Sarasota County, Florida – "From each according to his ability to each according to his need."

The National Taxpayers Union (NTU) is reporting that the Florida legislature, controlled by Republicans, will consider a tax and perhaps banning paper and plastic bags in Florida.

According to the National Taxpayers Union:

"Mere months after jamming over $2 billion in tax increases down the throats of Floridians, state government is threatening a new tax on all paper and plastic bags. The Florida Department of Environmental Protection (DEP) recently authored a report urging the State Legislature to phase in a 25 cent-per-bag tax by 2015, and then ban paper and plastic bags altogether. The DEP is holding a public hearing on November 19 in Tallahassee . . ."

Remember the Florida Department of Transportation submitted the $3.4 million shovel ready road project to build a "turtle tunnel". Given that project this idea makes sense, to Florida's bureaucrats that is, not to Floridians. Have the bureaucrats we support with our hard earned tax dollars gone over the edge or are they just looking for more money to keep their jobs secure?

The NTU goes on to refute the common arguments for such a tax. They point out:

Those in favor of a new bag tax think it is necessary to stem pollution and litter. They make a variety of false claims to support their position, including:

• Bag taxes and bans are widespread in the U.S.; it’s Florida’s turn. San Francisco is the only large city with a ban on plastic bags. Only Washington, D.C. and Fairbanks, AK had passed plastic bag taxes as of last summer. No state has banned or taxed plastic bags statewide. In liberal Seattle, WA, voters resoundingly defeated a 20 cent-per-bag tax at the polls in August.
• These bags represent the majority of beach litter. A report by the Ocean Conservancy in 2007 found that plastic bags represent only 8 percent of coastal litter – less than cigarette-related items, food wrappers, caps, and lids. Bags represent only 0.002 percent of beach litter by weight.
• Plastic bags kill 100,000 marine animals per year. This number is routinely touted by environmentalist groups. It has been refuted and the original source of the statement, the Australian government, has retracted it. The DEP study specifically mentions it as untrue, as well.

Most importantly, the DEP recommendation represents more taxes in a tough economy for Florida families. Buying groceries should not be more expensive based on bogus arguments from environmentalists and the government’s obsession with revenue.