novatownhall blog

Where you are held accountable for your convictions and record

Let’s give Ken Cuccinelli a great kick-off to his campaign for Attorney General, at tonight’s fundraiser.

Hope to see lots of you there, 7:00 – 9:00 pm, 20978 Flatboat Ct in Sterling.

Because the mainstream media is blatantly in the tank for Barack Obama this story is not going to be told via any of the major media pipelines, so it is up to us to get it out. The gist is the Barack Obama campaign appears to be orchestrating political communications without acknowledging the campaign’s role … which, if true, would be highly illegal.

You can read Dr. Rusty for the long version with all detail. Also read Ace here and here.

Below, I will attempt to give the short version with some background.

UPDATE: Maybe you should read this first just to get a sense of the stakes. Yes, this story is the real deal.

continue reading…

Facilitator.

From Newsbusters:

The three top campaign donation recipients from Fannie Mae were all Democrats. Chairman of the Senate Banking Committee Senator Chris Dodd (D-CT) got $165,000, Senator Barack Obama (D-IL) was given $126,349, and failed presidential candidate Senator John Kerry (D-MA) took $111,000 from the folks at Fannie Mae…

…So what, you may ask? Well, there is a reason that these Fannie Mae officials donated to Democrats. It was because Democrats continued to stymie Republican efforts to fix these failing lending agencies. Democrats protected these rotten lending practices and the Fannie Mae executives knew who were the sugar daddies that needed greasing.

Read it all.

People speculated – made dumb, greedy decisions – from financial institution executives to homeowners, and are about to be shielded from the consequences of those decisions while those who acted responsibly are going to pick up the tab for many years to come. If you can handle rising blood temperature, go read this excellent, short narrative by Jim Manzi which lays out the history in understandable terms.

What will be essential is that … The ultimate resolution assures that prior investors in these financial institutions and their executives bear very large financial penalties. Irresponsible homeowners should as well. Expect big political battles over the definition of “irresponsible.”

This is going to leave a mark.

Barack Obama facilitated the current mortgage and financial crisis. And by “facilitated,” we mean “helped cause by encouraging bad loans on a massive scale”. He should be in jail along with all the others who encouraged irresponsible lending practices masquerading as social welfare.

It’s time to put Charlie the Clown out to pasture.

Seriously, Charlie Gibson is an embarrassment to American culture. Say goodbye, Charlie the Clown – please.

Via Ace

Yes, it’s that time of year again.  The real reason that Virginia’s elections are staggered with the federal elections is so that the counties can hit you with a new bond referendum every stinkin’ year.  Well, here we go again, with a new $77 million bond referendum.  Here is a snippet from the Fairfax County website touting the wonderful idea of going further into debt:

The Fairfax County Park Authority currently administers over 24,000 acres of parkland and 400 individual parks.  These include county parks that provide countywide services, including family playgrounds, picnic facilities, golf, camping, skating, boating; stream valley trails, natural resource areas and historic sites; district parks that provide area-wide services, such as athletic field complexes, RECenters, dog parks and athletic courts; and local-serving parks with playgrounds, fields, courts, picnic areas and open space.

So why do we need more?  They do not say.

Now, in the “Information for Residents” package, which I have not found on-line, they answer a few questions:

Q: Will these bonds cause an tax rate increase?

A: The bond program, as designed, will not contribute to an increase in your tax rate.

Uh, right.  How are we going to pay off the bonds?  Well, let’s look at how we’re paying off the bonds we already have:

Q: What percentage of my taxes goes toward paying for the bonds?

A: Over the past 20 years, the share of taxes used to pay debt service has fluctuated from 7.5% to a high of 9.3%.  Currently, the rate is about 8% and is projected to remain as such….

So, our taxes are about 8% higher than they would be if we hadn’t sold bonds in the past?  Not quite, but that’s a good start.  Here’s the good stuff (on the last page, of course):

Q: What is the county’s total bonded indebtedness?

A: As of June 30, 2008, the total of general obligation bond and other tax-supported debt from FY 2009 through FY 2035, or the next 26 years, is $2.26 billion in principal.  The total interest payments on the outstanding debt is $0.79 billion.

Naturally, they put it in billions to make it look small.  That’s $790 million, per year, in interest payments.  So, if we were not paying the interest on these old bonds, we would have more than ten times as much money available as they now say they need for the Park Authority.   So, we could have our new parks and park improvements, and lower taxes, if only they had paid for such things in the first place, rather than selling bonds and telling us itwill not cause our taxes to go up.