Axis of Right

Three Native Rhode Islanders Commenting From the Right on Politics and Anything Else

Archive for September 1st, 2007

Larry Craig Resigns

Posted by Ryan on September 1, 2007

Idaho Senator Larry Craig finally bent to political pressure and annouced today that he will resign from the Senate on September 30.  He tried for the high-road, apologizing, noting his family and a need for minimum distraction in these troubled times, but stated that he has no control over what other people believe.  He did plead guilty back in June and according to the police report exhibited behavior consistent with profiles of gay men looking to hook-up in public bathrooms.  While he said he was not gay, the sheer appearance of a public indiscretion like this ultimately led to his resignation. 

However, the Democrats still worship Barney FrankAlcee HastingsCynthia McKinney, Patrick “Patches” Kennedy and William Jefferson, (not to mention William Jefferson Clinton) which bothers many Republicans.  I have an opinion about that double standard.  Republicans have shown at least since Bob Livingston, that they will resign their prestigious public posts due to bad personal behavior.  Democrats raise their socio-moral perps to new heights, ignore the scandal, or try to bury the issue altogether.  Amongst my liberal friends, the thought is that since the Dems don’t pretent to be moral, they don’t have to strive for those standards with any ill-effect, while Republicans, however, constantly talk about God and religion, so when they do something wrong Republicans are hypocrits and need to lose their jobs.  I agree on the second part, except the public should demand the same kind of accountablility from the Democrats too!  At least with Craig resigning the seat in Idaho is apt to remain Republican in next year’s election. 

Posted in Election 2008, Politics | Leave a Comment »

Bush’s Housing Bailout

Posted by Ryan on September 1, 2007

President Bush has been cheering the housing boom for most of his presidency.  More Americans own a home today than anytime in our history.  Yet, with a combination of “affordable housing” loans being given to low income families that never should have been eligible, housing “flippers” buying homes only to sell them quickly for a profit, and simply dumb decisions by people who didn’t understand what they were signing, this pride of the Bush economy is set to get rocked very shortly.  Add to that the number of foreigners invested in the bank loans and this could also temporarily shake the world markets.

In comes President Bush.  He is proposing a bailout of those people, anywhere from 60,000 to 80,000, whose original interest rate is about to nearly double their monthly mortgage payments, forcing many to foreclose.  The Democrat Congress will add so many other items to this proposal that I’m frightened of the prospect– of course Bush will sign anything Congress gives him in this case, too.  Bush says his proposal is modest, just making more people eligible for FHA-loans with a few more perks.  He’s even asking Fannie Mae and other lenders to go easy on these people.

But, in comes ol’ Nanny State.  She is going to change the rules so that these people don’t sink, just like the 1989 Congressional savings and loan bailout rewarded bad behavior back then.  Bush doesn’t call his plan a bailout, but it didn’t call amnesty amnesty either.  Bush is also on the same page as Chuck Schumer on this one.  I’m not trying to be mean-spirited here, but I am trying to advocate personal responsibility.  If I was financially irresponsible and borrowed more than I could afford, I would now be being rewarded by my federal government.  Great deal, but is that a fair deal to everyone else who has foreclosed before Congress passes this law?  Here, government intervention is propping up parts of the economy that should not be being propped up. 

Posted in Culture, Politics | Leave a Comment »