Isn't It Nice That All Is Hunky-dory?
by James Glaser
August 24, 2009
The President is on vacation. Washington is telling us that the recession has bottomed out, and they can see "green shoots" all over the place as the economy rebounds.
Of course if you are on the outside of the beltway looking in, things don't look so good. Guaranty Bank of Austin, Texas just went belly-up. It was the 10th largest US bank in history to fail. No American bank wanted to take it over, so for the first time ever, FDIC allowed a bank in Spain to buy an American bank's assets. No foreign bank has ever been allowed to do that before. Of course, never before could the government not find an American owned bank to take over a failed one.
Just so Washington can prove that things have turned around and things are looking up for everybody, the Social Security Administration has decided that it costs no more to live now than it did last year. So, senior citizens and disabled people will receive no cost of living increase in their check next year. In fact, most will get a smaller check, because the premium for the Prescription Drug Program is scheduled to go up.
Add to this the fact that employment numbers continue to fall, and housing prices continue to decline, and you have to ask yourself how the President, the Senate, and the House of Representatives can all take any time off.
Sure, it is easy to feel good about yourself and take some time off... with pay, if you are on the federal dole like our politicians are, but things are not Hunky-dory for the rest of us.
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