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Tuesday, October 07, 2008
Chuck Norris :: Townhall.com Columnist
The Bailaholics
by Chuck Norris
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Tombstone, Ariz., has nothing on Washington, D.C. Friday's financial OK Corral took place when federal politicians had a standoff over the mother of all bailout bills. Bullets called ballots were fired from both congressional houses and the White House. And when the smoke cleared, the bad guys appeared: Bush, Paulson, Barney Frank, Pelosi, Dodd and most of the other members of the House and the Senate, including Obama and even McCain.

The truth is most members of Congress voted to pass the bill but don't have a clue what is in this 500-plus-page legislation, which was birthed in the White House just two weeks ago as an infant of only three pages. Then it was voted down at the Capitol a week later in its adolescent-sized 100 pages. And of course, in good bureaucratic fashion, it met the criteria to be mature when it was more than five times that size and packed with governmental goodies. And the president signed it just an hour after receiving it from Capitol Hill Friday. I guess that speed-reading course paid off.

In the fine print, inserted between the lines of that 500-plus-page bill, are loads of fiscal additives and more financial toxic relief. H.R. 1424 -- the Emergency Economic Stabilization Act of 2008, which now has been signed into law -- officially includes more than $112 billion in political hors d'oeuvres and pork-barrel teasers and sweeteners that have absolutely no direct relation to the Wall Street bailout but were included to bribe congressional naysayers and others to get on the greed train:

--$6 million in tax breaks for wooden-arrow manufacturers in Oregon.

--$148 million in tax breaks for wool-producing companies.

--$128 million in tax breaks for the manufacturers of car-racing tracks.

--$10 million in tax breaks for small television and film producers.

--$223 million in tax breaks for Alaskan fishermen.

--$33 million in tax breaks for corporations operating in American Samoa.

--$192 million in tax breaks for rum producers in Puerto Rico and the Virgin Islands.

What the &$=/?! And that's just a drop in the bailout bucket. And we the taxpayers are just supposed to sit back and take it in the arrears?

Shockingly -- or maybe not so -- both Democratic and Republican nominees for president, self-professed agents of reform, followed the cattle call to back the bailout. Sen. Obama, who claims to be the messiah of change, sure is showing his true colors in two huge decisions: his appointment of politics-as-usual Joe Biden and his vote to pass this economic bailout bill and drive us deeper into debt. And quite frankly, Sen. McCain also is disappointing me at this point. At the Republican convention, John talked about bringing the power back to the people. So he chose Sarah Palin and finally gained my respect and vote by picking this Washington outsider. But when he had the perfect opportunity to side with the majority of Americans, who didn't want to incur a trillion dollars more in debt, he voted for not only the bilking bailout but also the earmarks and pork-barrel projects packed inside.

John, you gained my vote with your conservative choice in Gov. Palin; don't lose my vote (and others' votes) by your return to politics as usual. For many of us, you have one last chance in the debates. You must choose radical reformation. This is a time for maverette Sarah to stand up to maverick McCain and say, "Enough is enough!" Speak up, Gov. Palin. Please speak up!

All is not lost yet. We still have a voice in this bailout; it's at the ballot box in November's elections. The remedy for our country is clear. Congress doesn't need another bailout but a roundhouse kick right out the door. I plead with you to join me and millions of others in a voter revolution to oust political and congressional corruption and stalemate. If the members of Congress from your states or districts voted to pass this bailout bill and gamble nearly $1 trillion of our children's and grandchildren's money -- in addition to showing the reckless fiscal behavior of stuffing such a bill with perks and pork -- you must not re-elect them. If your representatives voted for this economically rotten (not rescue) bill, vote them out in November by voting for new blood that has a track record of fiscal prudence and consistently will vote for constitutional limitations of government, reductions of big government (deficits, budgets, spending and taxes), reformation of the tax code (by providing a "fair tax" or its equivalent) and a constitutional amendment for a mandated balanced federal budget.

Despite the heartbreaking passage of this bill, thank God 161 representatives and 25 senators opposed it and weren't enticed by the pseudo-urgent Wall Street panic, their own re-election pressures, or the Senate's pork-barrel schmoozing. For example, I commend Rep. Don Young, R-Alaska, who voted "no" for the emergency economic bill despite the fact that the tax break for Alaskan fishermen was inserted to sway him to bite at the bailout. Rep. Young is correct in a letter to his constituents: "This bill is nothing more than a slippery slope to socialism."

One thing is apparent: Alaska can produce some great Americans.

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About The Author
Chuck Norris is a columnist and impossible to kill.
 
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EXTRA materials at Norris WND EXCLUSIVE
Chuck’s column at World Net Daily has several ADDITIONAL PARAGRAPHS. Worth checking out...here is one of the paragraphs…

“And was [this financial crisis] really the total responsibility of the past eight years of government? Now that we know Fannie Mae and Freddie Mac were the epicenter of the economic earthquake, I was intrigued to read a New York Times September 30, 1999 column that pointed out, ‘Fannie Mae, the nation's biggest underwriter of home mortgages, has been under increasing pressure from the Clinton Administration to expand mortgage loans among low and moderate income people….By expanding the type of loans that it will buy, Fannie Mae is hoping to spur banks to make more loans to people with less-than-stellar credit ratings.’ The article closed with a prophetic word by Peter Wallison, a resident fellow at the American Enterprise Institute, who forecasted, ‘From the perspective of many people, including me, this is another thrift industry growing up around us. If they fail, the government will have to step up and bail them out the way it stepped up and bailed out the thrift industry.’

I counted at least another 5 paragraphs of ADDITIONAL MATERIAL on Chuck’s WND version, including several links—and one that allows you to check how your representatives in your area voted on the bailout bill... http://worldnetdaily.com/index.php?fa=PAGE.view&pageId=771 22

Another GREAT column Mr. Norris!


2nd WND paragraph...
Here's one more...

“As Ronald Reagan once said, ‘The best minds are not in government. If any were, business would steal them away.’ Speak of great minds not in government, I agree with David Levine, Professor of Economics from Washington University, who said, ‘This seems to be a particularly bad bill. We have seen pretty clearly that all the bad things that were promised to happen if the bill didn't pass on Monday or on Tuesday or whatever particular day of the week it might have been, haven’t happened, they are not going to happen, they are not going to happen next week, next month. I really wish that the Chairman of Federal Reserve and the Secretary, the Treasurer were up there telling people that bad things are not going to happen, if they do happen they won’t happen immediately. There is time to deliberate over a good plan. This is a bad plan; it got even worse since it was turned down by the House. There is very little to like in all of this.’”

Fantastic article Mr. Norris!
McCain and Obama are both complete bums. Thanks for calling them both out! I heard you on a radio interview say that "Ron Paul is the only one I really trust anymore--we need more like him." I also read "Black Belt Patriotism," and it really was very good--you cite Ron Paul several times and I couldn't believe how much you mention our Founders. Good for you Chuck! Nice to have you a part of the (voter) revolution!

Check out how your congressman voted for the bailout bill at http://www.govtrack.us/congress/vote.xpd?vote=h2008-674

Chuck! You're ALMOST there!

Yes! Vote against everyone who supported this massive usuraption of liberty and the free market!



INCLUDING McCain!



Barr 2008, Chuck, Barr 2008!


C'mon... you KNOW you wanna do it. Just DO it!

Then you can sleep well at night.

BrianR
Good evening. Its nice to see your nick once in a while. As we have been saying for years, a voter revolt throwing out at least 40 per cent of the incumbents instead of the usual 6 or 8 per cent is probably the only non-violent way to reverse the course American govt is taking. Its become a gruesomely interesting situation. I can't even decide what i would like to see happen, other than massive incumbent replacement.

The L1A1 i bought has become a big favorite. With the cost of ammo, i now have an excuse to buy a progressive loader. Every cloud has a silver lining. And i find it grimly fitting that with the economy tanking, it is the folks who voted in the Rangels, the Franks and their ilk who will be hardest hit. Engineers and teachers can always find a job. Entry level jobs disappear in a tight economy, and our friendly neighbor hood illegal aliens will scoff up what few remain. I see no way out of riots and fire. Doesn't matter who gets in the WH, the oncoming tsunami is too big for anyone near the helm.

Pistol
It looks like we don't have the guts, fortitude, of many of our ancestors.

Many believe a revolution of some kind is the only answer to cleaning up, cleaning out our country's government. We also have to eliminaate the evil leftist movement to take over and destroy our values.

So far no one who has a public voice on radio, TV, the internet has stepped up to
mobilize United States citizens who are just plain fed up with what they have been forced to tolerate.

They all talk and talk, just as the rest of us do at home. That doesn't get us anywhere.


McCain DID try ..........
to straighten this mess, with Fannie/Freddie, out many times in the years past. Bush has been trying to get Congress to deal with this mess since he first came to Office. I say vote out the Congressmen that opposed reforming Fannie/Freddie. Pelosi, Frank, Reid, Shumer etc.

The next step would be to phase out Fannie Mae and Freddie Mac forever.

Whatever you do don't blink. We're facing Freedom vs Socialism in the November election.

McCain votes for big government
Had McCain chosen Mitt Romney a financial genius, he would be ahead on the economy. But he let the anti-mormon redneck, Mike Hickabee intimidate out of selecting Mitt.

But, he still had Pawlenty. So what did McAmnesty do? Instead, he chose a bimbo under investigation for ethics violations,who is now going to court to ask supreme court jusices to stop elected legislators from doing their job. Judicial activism, anyone?

Then McAmnesty lobbies and votes for a 800 billion big government pork package for Wall Street, and tells us he hates earmarks.

What a liar!

this rino is done-stick a fork in him!

Bob Barr is the only principled, trustworthy, and consistent conservative on the ballot.

What about the ones that really pay???
This is causing huge problems for the elderly, lower and middle class.

We have huge utility companies standing over people trying to make them give money they don't have.

People trying to find ways to pay for food, health and human service offices filled with people trying to get help from our government, who seems to only care about these damn big corporations.

Wake up America you have much BIGGER problems to deal with.

Let's think about it! It's not our fault that these big business can't find ways to save. They need reality checks, Period.... What about small business, middle class, lower class and our elderly, these are the people that are really suffering here because of all this crap.

It's good that Mr. Norris...
...is now looking to Ron Paul for rational policy. I'd sure like to hear Norris admit that he made a mistake not supporting Paul in the primaries. It won't change history, but it would be nice.

Norris rocks . . .
I wonder if our founders were like this small band of leaders who have the courage to advocate for freedom despite what RINOS and Communists argue.

Bailout Bill Petition
Chuck this is a great article--We the people need to get a NOT IN OUR NAME BAILOUT PETITION GOING. We need it printed in all the Swing States newspapers. We need to incorporate in the petition all those at fault. The American People need to send a message to Capitol Hill. Obama keeps saying he is going to Change Washington--I guess Pelosi, Reid, Schumer, Frank, Dodd and all the other Crooks who support him, gets a pass for his change. This Bailout affects all Americans--

To RON PAUL advocates like me...
I'm not kidding friends--Norris has turned a corner, and it's clearly stated in his book, "Black Belt Patriotism," in which he cites the Founders and founding documents like mad. He's clearly moved away from RINO, NEOCON crap thinking, but needs our encouragement. Buy his book and leave a positive comment on Amazon. Like BrianR said, he's almost there--and it's not too late for him to endorse and vote for Barr 2008! He's said so many things inclining him pro-Paul, pro-returning to Founders (2nd chapter), admitting his own mistakes, etc.--Check it out... http://noworldsystem.com/2008/10/06/chuck-norris-ron-paul- is-the-only-guy-i-trust/

McCain
If McCain were smart he would tell his audiance tonight that he wants the flat tax and say that Romney will be with him implementing it. No more IRS. No more business as usual in Congress with the manipulation of our economy by using the tax codes to channel everything we and business does. It will level the playing field with the rest of the world at the same time. But, the Maverick just doesn't get it, so we will end up with Obama and our once great nation will be speeding to it's demise.

TAXATION WITHOUT REPRESENTATION
Chuck, you are right on with this article. Millions of Americans voiced their opinions against this 700 billion dollar bailout and our so-called leaders who were elected by us continued on with it, using the media scare tactic that the sky is falling. Many of these so-called leaders were responsbile for it in the first place. The American people are not stupid, Congress has had the lowest approval rating during the past 4 years than ever before, because they don't represent the American people's interest, just their own. Even Bush has not been vocal enough about Congress's misdeeds, just rolled over and took it. Women have been cleaning houses for centuries, let's give Sarah Palin along with her running mate, John McCain an opportunity to clean this house.
I'm bringing my broom to Washington via the voting booth. WOMEN OF AMERICAN, UNITE WITH A BROOM BRIGADE!

where DO we turn to
Mr Norris has commented on a subject that always needs to be talked about, the corrupt, lack of focus of the politicians that run this country. the american people will have to have a bomb dropped on their most favorite island (sounds like hawaii) to wake up and do something about the direction of this nation. at 56 years old i do not see that happening before i leave this great earth. 9/11 didn't light a fire and i truly do not believe what is happening in the nation today will light up averagejoeamerican. we are truly cattle being led to slaughter. we are not our fathers children if we continue down this road of self destruction.

Flat Tax?
Fair Tax would be far better. We would with one more vote the repel of the amendment that allows this farse (IRS) to exist to be extinquished.

Dollars for votes would still be a part of the flat tax but be gone with the fair tax. Contrary to public opinion it is more fair for the 40% who toady don't pay any Income Tax yet vote for the party that constantly raises that tax on the "evil rich".

Congress who writes the checks and the Senate that endorses the checks for theis Great Republic would like the rest of us live within its means. Where I am from we call that tough love.

Barr
A vote for Barr is a vote for Obama and that is idiotic at best. Years ago someone gave me a piece of good advice about an organazation I felt I could no longe belong to. Here it is, "You can't chane anything from the outside without guns and bullits." Since I am not wlling to start a revolutionI must then come up with good ideas and a way to convince others that REAL CHANGE has to happen if this Republic for which we stand is to endure.

Rome is burning, put out the fire.*
Would someone please tell me what is so hard or difficult about having our elected officials do the right thing for the good of our Country and its people?* Why have our elected Officials ignored, denied, subverted, destroyed, violated, compromised, our Trust, Respect, and Confidence that we placed in them to do the right thing for our Country and its people?* The result is that this Nation's foundational principals based on the ideology of Liberty are now in danger of extinction.* When is enough going to be enough?* At what point do we say "NO MORE"? "The people are the masters of both Congress and the courts, not to overthrow the Constitution, but to overthrow the men who would pervert it".> Abraham Lincoln.*... " Dissent is the highest form of patriotism.".> Thomas Jefferson.* The Founding Fathers knew the importance of protecting themselves from Governments who get out of hand.*...

Way to GO Chuck
It's about time somebody told these greedy fools in Washington how it REALLY is. It's like my grandpa use to say-- the only way to straighten out this country is to take all the politicians and lawyers out in a field and SHOOT them and start from scratch!!! Seriously, though, this country better wake up and OUST that fool Obama and others like him. He will turn this country into an "Obama-nation" before God and us too, if we are STUPID enough to elect him and those like him to ANY office, and frankly, I wouldn't elect him DOG CATCHER!!! Let's all get back to our roots that this country was founded on-- namely GOD-- and kick the NON-believers OUT!!! Then this country will be great again.

Sarah, drill and the fair tax
Good read Chuck and you are right Americans all have been taking it in the arrears for the past 2 decades or more. According to the pollsters at least 49% in this country seem to enjoy it and want to keep backing all of us up to the line for more. I’ll stand with you and say NO enough is enough already. I vote for Sarah, drill, the fair tax and anything else that will give the American people back the freedoms that congress has stolen thru gov’t force over the last 40+ years.

Gee
And I thought Obamamania was bad. Remember a few week ago when our Kung foo patriot was preaching rebellion? That house of cards folded fast. Oh well, at least his book is a best seller. Of course that’s what we get when we take political advice from any Hollywood type, left or right. Consider the Ronald Reagan quote. If he wasn’t including himself and all his advisors then he was being disingenuous, just like every other Hollywood political, left or right. Either way, it’s bad.

Chuck Norris for Congress!
Chuck, I totally agree with you on voting out the politicians who voted for the bailout bill. However, using that logic also means not voting IN McCain. If McCain is already voting like a socialist while he's a Senator, what makes you think he'll do any different once he has even more power as President.

Chuck, please run for office! US TX Congressional District 32 needs you since we are going to get rid of Pete Sessions for violating the US Constitution on numerous votes. If you ran, I and many, many other grassroots activists would freely give of our time and money to ensure an easy victory for you. Congressman Chuck Norris 2010! God Bless.

Vote for Who?
Chuck, I agree with you. McCain was a gross disappointment. He could have distinguished himself and won this election but he didn't vote down or Maverick anything, he just marched along with Obama. Might as well vote for Obama. If I vote at all, it's going to be because of Sarah.
That bill was a watershed. Gas prices were coming down, the dollar was going up, but our government wants us in debt. They offer College loans, but take away bankruptcy when the loan amounts amount to involuntary servitude.

I Yi Yi!
I simply cant believe this. How in the sake of sanity could someone have voted yes to this bill? Peer pressure, cover-up, money & stupidity thats how. There is NO WAY this bill should've been passed with earmarks or ammendments! Wake up people! I have lost quite a bit in the market but the only way I would agree to this bill is if the FBI or CIA came in front of the media & said it was going to investigate & probe into the CEO's payoffs & if found guilty the money returned to shareholders, any threats or pressure forced onto lenders to allow BAD & UNLAWFUL loans made to those who didnt qualify and/or no credit background checked (such as ACORN), to prosecute & fine any of the above along with ANY member of government associated with any of the above (such as Barney Frank, Dodd, Obama, ect.) AND PEOPLE ARE VOTING FOR THIS GUY TO BE OUR NEXT COMMANDER IN CHIEF??? God Help Us!

Bob Barr
Barr is not even an option for me, for many of the same reasons I didn't vote for some of the other candidates.

Barr has flip-flopped on every major issue during his public career including the war on drugs, the Patriot Act, abortion, same sex marriage, medicinal marijuana use and the war in Iraq. He is a former Democrat, then Republican and now Libertarian. He is on his third wife, one of whom, Gail, had an abortion while married to him. He led efforts to prevent the government from implementing anti-terrorism legislation after the OKC bombings. He does consulting work for the ACLU, the most anti-Christian organzation in history. He just can't be trusted.

The only skill he seems to have is licking whipped cream off a woman at a fundraiser.


The Bailaholics
Good sentence: "Congress doesn't need another bailout but a roundhouse kick right out the door." Except I would say "...right through a closed door." First, let the economy self-correct; that's what "free" markets are based on. Paulson is just trying to “bail out” a few of his big bucks buddies at taxpayers’ expense. America would have been much better off to completely disregard this bozo and look at the problem from a clean slate approach. Flow chart and diagram in detail the whole Ponzi scheme of the financial industry. Determine exactly what went wrong and why. Assign fair blame and seriously punish wrongdoing. Create new, better rules/laws to make the financial industry more honest, transparent, and accountable. Include “just right” oversight by regulatory agencies. This will take time, lots of time but if we don’t want a repeat of this or worse in 5-10 years then we need to do it right…now.
Questions, rhetorical questions: Will the taxpayer, who is being saddled so far with a trillion dollar bailout, ever get reimbursed? If so, how? The way I understand it so far is that money is being showered on these greedy incompetents/crooks on Wall Street with little assurance that we’ll recoup anything. Even if moneys will be repaid, it will be to the U.S. Treasury and, to my knowledge, no provisions in the bailout legislation addresses how the moneys returned to the treasury will be repatriated back to the taxpayer. What I strongly suspect will happen is that if by a miracle any moneys flows back into government coffers the temptation by the politico thieves will be to use the moneys to fund their programs or as a sludge fund to bail out some other government caused disaster without any of it ever returned to the originator, the taxpayer.

This B.O.M.B shouldn't have happened.
The B.O.M.B (Bush Obama McCain Bailout) was the biggest mistake to happen in the recent years. I agree with Mr Norris that the events surrounding the BOMB happened to fast. That the BOMB grew from a Three page bill to over 450 pages was insane. Former Senator Fred Thompson was disgusted with the congress and the speed that congress past the BOMB. He said something to the effect, " it normally takes congress Three months to tie their shoes.

There should have been a cooling off period of at least a month to see what would have happened. The reports say that the bailout may eventually make money. If this were true the private sector would have handled it. I suspect that the Congress done nothing more that create more problems and debt for the future generations.

Mr Norris is right about one other thing. We, as voters, should show our disgust for our members of Congress who voted for this bailout by voting them out of office.

Voting for either McCain or Obama is not the answer. This would only reinforce the idea that bailouts are okay with the electorate.

I will vote for the Libertarian Party candidate Bob Barr because he has voiced his(and the Libertarian Party's) opposition to the BOMB.
You can see the video at bobbarr2008.com.

BrianR/Pistol
The public will vote themselves right to the wall with the idea that they can fix it. As they are clearly doing. How the people who completely missed it all and got us here can fix it, is a debate for another day. After all, since they kept telling us up to 30 days ago that it wasn't a problem, you have to wonder. In keeping with this, I read yesterday on realclearpolitics a rather interesting article about an issue that should be one - but isn't. It seems that in the last six month, the Chinese have added $500 billion more to their US foreign exchange reserves, bringing their total to $2 trillion - or 1/4 of the entire world's total. While they have done this, they issued an ultimatum to the Government to take over Fannie and Freddie, or they'd sell the $375 billion in securities they owned. Now, those securities are secured by our government. At the same time, the $482 billion deficit Bush projected for next year has skyrocketed, as the pork and the costs of this never ending string of bailouts will have to be added. And when its added, we then have to find buyers for our treasury bonds to "finance" that deficit. Which takes us right back to the Chinese who, if they refuse to buy our fair share, could stop our ability to spend all that extra money in its tracks. And now, the Chinese (Europeon News), have the agreement of OPEC and other countries to substitute other currencies for the dollar for purchasing energy. And not a peep out of Washington. Anymore than there was a peep out of Washington when the Chinese issued the ultimatum on F&F. The Chinese now have taken significant control of our economy - and not a peep. But I guess the chickens have lost their peepability.

Some Qutoes
The recent bailout package being approved in the US Congress needs to be viewed in the context of the spurt in the accumulation of forex reserves of China by about $500 billion in the last six months to about $2 trillion in aggregate.

This gargantuan build-up of forex reserves by China has strangely received very little attention of economists, policy analysts, currency traders and, of course, geo-strategists around the world.

All this is not pure economics as it is made out to be. Rather, it was and remains a well-planned economic, political and military strategy of the Chinese. And in a way it is the mirror image of the Star Wars programme that the then US President Reagan unleashed on the erstwhile USSR in the early eighties that eventually bankrupted the later within a few years as it engaged in competitive arms build-up with the former.

Statecraft is all about engaging other countries at one's own terms, pace, time and cost. This is what the US did to the USSR in the eighties and succeeded in dynamiting that country. And that is what China could do to a vulnerable US in the coming months. Crucially, if it doesn't, from the Chinese perspective it might well rue this moment forever.

The US till date was depending on the Chinese for imports and to finance them as well for such imports. Now they will have to be considerably dependent on the Chinese to protect their currency as well as to ensure liquidity in their money markets. And that completely alters the existing global order.



The Chuck Plan (Part 1 of 3)
Despite rumors that the bailout will be effective in stemming a downward spiral economically, I do not think the core issues have been addressed. In other words, I predict the bailout will not bailout, and we will subsequently undergo Round Three.

(Sent) 25 September 2008

Senator:

As a former Marine, American citizen, father, husband and homeowner, it is my hope this approach/proposal outlined below will be digested and considered for action.

I have prepared a draft proposal that will:
Flat line the mortgage industry
Reset credit and lending opportunities
Inject economic adrenalin unlike that seen in the history of the United States
Restore confidence in the American Dream

This plan is called “The Chuck Plan.”

Please bear with me and digest the information before discounting it. There is critical need for radical decision-making that will salvage hope. I will refrain from getting into golden parachute discussions, or who will make money because of the meltdown, and will instead attempt to briefly outline The Chuck Plan.

You know…this might just work.

This caveat: Homeownership is the backbone of the American Dream, and that backbone is broken. It must be reset with haste and with precision. A band aid of new rule-making is a mask for indecision and profound action. This therefore calls for unprecedented thinking and behavior.


The Chuck Plan (Part 2 of 3)
1. All homeowners who have mortgages stop paying their mortgage and are given their properties outright and permanently, and under the protection of the Federal government. This in turn will allow the mortgage industry to flat line. All mortgage payments that would have been paid now become available for immediate reinvestment, bank deposits, purchases for goods and services and educational payments, job creation, and many others.

2. Once all the mortgages are cleared off the books, all the revenues will immediately shift and be leveraged back into the economy and the American consumer would be adding rocket fuel to the economy because of the profound availability of cash that would flow through the marketplace..

3. The banking industry will immediately have available substantial money that has been produced and can be shifted under “new” ethical, oversight for mortgage reconstruction.

Scenario: If on average each of the 100,000,000 homeowners in America were no longer required to make a mortgage payment of (on average) $4,000 per month, and they owned their properties now outright, free and clear, then that monthly $4,000 would immediately be placed in banking and put to work reinvigorating the economy through purchasing power. Banks would succeed immediately, investment in stock would succeed immediately, confidence would be at an all-time high. Homeowners would still be required to carry insurance and pay assessed value taxes on their now free and clear property. The mortgage industry would collapse, yes, but the reset would invigorate the economy to such substantial degree that the wave of optimism would be incalculable.

3a. The immediate availability of cash that would flood the market outside the now flat-lined mortgage industry would jump-start the economy because of the trillions in cash that would be available immediately. The banking industry would then be healthier than ever before historically.

The Chuck Plan (Part 3 of 3)
3a. The immediate availability of cash that would flood the market outside the now flat-lined mortgage industry would jump-start the economy because of the trillions in cash that would be available immediately. The banking industry would then be healthier than ever before historically.

3b. Rough estimates: Monthly, across the nation, there are $364 billion in mortgage payments that would be forgiven/existing homeownership be made permanent with no further mortgage payments due/purchases on the market would sky-rocket/foreclosures would be forgiven and cease/the American Dream would be attainable.

3c. Rough estimate (2): Annually, across the nation, $5 trillion would be immediately available for reinvestment; consumer purchasing power would be astronomically enhanced. The economy would flourish.

4. Once the mortgage industry has flat lined, it can be reset with appropriate, ethical oversight in constructing valid policies and procedures.

5. The Federal government would now have time to investigate the mortgage collapse in its professional entirety. In this interim (I propose 12 months to develop and launch a new mortgage system); all home sales will be frozen. This may cause some to complain, but at the end of 12 months, the mortgage industry would be reset.

The Chuck Plan (oops 4 of 4)
There are many other extremely beneficial components of “The Chuck Plan.” This is just a start.

I ask you to consider this plan and would be available to discuss with you an immediate way ahead.

Who Loses:
1. The mortgage industry collapses, but the revenues made available because mortgage payments are forgiven for existing homeowners and the subsequent availability of cash propels the economy into new heights, and is represented by cash purchases, new job starts, educational payments, etc.
2. Mortgage companies who have been exercising ethical loan practices will unfortunately be part of the reset.

Who Wins:
1. The American homeowner
2. The American economy

Extreme situations require extreme action.

Regarding the $700 billion bailout option: NO.

You know…The Chuck Plan just might work.

Quality Leaders with Integrity!
Chuck:
You hit the nail on the head with this article!
We need to elect new leaders with conservative values who will take their promises to serve us that way with their integrity on the line. Let's send a message on Nov. 4th, that we Americans ARE angry about politics as usual, and want strict reform NOW! We need 100 senators to reflect that attitude of service to America, and all of our elected Representatives. God save America! Thanks for being who you are, even in the face of ridicule from the left.

BrianR
A vote for Barr will only result in a vote taken away from McCain as no one knows who he is. I refuse to vote for Obamma by default or any other way.

Bail Out My Axxxxxxxx
This Bill will just put the American people more in debt . I have made up my mine and have notified my Congressmen and women that I will not vote for anyone that voted for this bill.
Mark my words .when the U.S. hiccups the rest of the world catches a cold. We are a consumer nation , when we stop buying the rest of the world starts hurting . We have let Congress run rampant for to long . It is time we stood up for America . Opec has killed us because of the idiots that have been elected to Congress . All of our money has been going overseas to help tear down the American Economy , Now the people in the Southeast have no gas . Vote the LIberal Democrats & Republicans out of office . Thank You . I'm just an ole Redneck but I'm not STUPID

tax breaks
All of the special provisions listed in the article are tax cuts. I thought conservatives like tax cuts?

To Chuck--
This is a great article by Chuck. I just wish that Chuck would gather a large group of qualified people that see the economy and the state of national affairs the way he and most of us conservative Americans do. With this large group of America first people he could then put them in front of the American people to decide if they were fit to run for Govt. offices. If so, we could hope to elect these individuals instead of the sell-out bunch that are in DC now. Chuck and the conservative Americans are smart, it can be done.

Another omitted paragraph
"Except for 25 senatorial and 161 congressional opponents, the majority have just driven our children and grandchildren nearly $1 trillion deeper into debt, with only a dim ray of "hope" and sheer speculation that the Fed might recover it. Do I need to remind anyone that even by our own government's standards our national deficit is now more than $10 trillion? Congratulations America – you've now reached triple gold on your credit line."

$10,000,000,000,000.00. Think about it. The bailout bill raised the debt ceiling to $11,315,000,000,000.00. Then there's the trillions in unfunded liabilities for social security and Medicare.

Chuck's right: we must kick out every last person who voted for the bailout. Democrat, Republican, it doesn't matter.

Bailout
I was very discused with Mary Fallin-R of the House and Tom Coburn-R of the Senate for voting for this bailout. Mary is up for re-election this November and and am not voting for her, but do not want to vote for the Democrat running against her. What to do.
Senator Tom Coburn was one Senator I was always proud of voting for until now. I am really upset that he voted this way. I will be sure to let him know and he lost my support and vote when he comes up for re-election.

Never trust

Dogs watching your food or lawyers watching your money.

Tax Breaks
Chuck,

In general I like your positions on conservative issues, but you gripe about tax breaks.

What's with you?

The tax breaks in the bill are not the problem. The problem is the socialist takeover of these parts of the financial sector of our economy!

Tax breaks for the wooden arrow maker or anyone else means that they can employ more people and produce more product for those of us who want to buy it. That's a good deal for the unemployed and for the consumer.

The problem is the socialist takeover of our economic industries. The bailout was wrong because the Government thought it knew better and could do better than the inventive and entrepreneurial American citizen.

I lost a part of my retirement savings (probably only significant in its amount to me) when the Gov. took over FM&FM and threw money at AIG. The money thrown at them hides the conspirators who forged this crisis with the donations they received from these institutions.

It is those people who should be held to task, tried, and if convicted, serve their sentences.

Now, instead, part of my retirement savings are gone, the culprits are shielded, and I have to bear the tax burden of the bailout.

I have a large family and live on the sufferance of my congregations. All of them are bound to pay the tax bill for this bailout.

I don't begrudge the tax breaks to those businesses mentioned in the bill. I begrudge the bailout itself as a burden that steals from me, my family, and my congregational members.

Big Foot Trampled On America's Homes!
Thanks, Chuck for the information, especially about Rep. Don Young, Alaska, recognizing that this bailout could lead to socialism. My fear is that Obama who wants to socialize healthcare created change all right when he changed his former statement about healthcare during the debate. This candidate according to the reports hangs out with anti-Americans, one of those friends says he prefers communism in a news article, yet, he lives in America. But, many Americans don't get it and don't care that their freedom could be gone forever in the next four years if they vote for the wrong man. Today, after the federal government encouraged bankers to make fraudulent home loans knowing people couldn't pay them back caused the economic crisis alongside the CEOs of major corporations and banks which began in the 80s with the S&L failures. I know who BIG FOOT actually is - Big Foot lives in the White House in Washington D.C. The federal government is Big Foot and Big Foot is trampled on the rights of states and stomped on America's homes by creating bad business loans even though their power is suppose to be limited. So, before you vote for the wrong candidate, be sure to check out those who say they support him at at http://www.mafo2008.com - before Big Foot tramples on all of our civil and constitutional rights and socializes the only free and great country in the world where we can't share our information without over sight committees who will tell us what we can or cannot say or write! Wake up, America before it's too late.


Who does pretty well during tough times
Entertainers. Why don't you go back to that?

Reaganite
I know what you mean and it must come as an especially hard blow to a Reagan devotee such as your self. Imagine, an upstart like GW Bush beating Reagan’s record deficit. But don’t worry, Reagan’s legacy will out last GW’s. After all, he gave us an armed Saddam Hussein, a reinforced Iran and birth to the group known as the Taliban. No one will ever top that.

Tired of politics as usual
The presidential debates are a prime example of what is wrong with the elections.
If you are concerned about the future of the Republic, you should want open debates between all of the recognized candidates. There are six candidates who are on the ballot in at least twenty-five states. They include: Bob
Barr, of the Libertarian Party; Ralph Nader, the independant candidate; Cynthia McKinney of the Green Party.

In my opinion by not allowing the other candidates to participate in the debates is perpetrating a fraud on the American voters.

This doesn't give the voters a wide range of opinions concerning the Issues that America is facing. The prime example is the bailout.
Both Senators McCain and Obama voted for the Bailout. Which is contrary to the U S Constitution.
Bob Barr, the Libertarian, spoke out against the bailout.
If you want to know what Bob Barr stands for check out the videos on you tube.

worthless
How big of a bonfire could you make with ten trillion dollars anyway?
Or the treasury dept is running out of paper to print money on.
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