CHESSNOID

Times are definitely tough all over the country and all over the world.  We get a new President next week and will spend countless of millions to promote the event.  President Bush officially declared the  inauguration is in a state of emergency for the District of Columbia so the state would qualify for federal funds.

Reuters:

Millions of people are expected to swarm the streets of Washington on inauguration day. Streets will be closed, bridges open only to taxis and the like, and security will be tight.

“The president’s action makes federal funding available to the District of Colombia,” White House spokeswoman Dana Perino said.

The District will be eligible for federal funds for “emergency protective measures that are undertaken to save lives and protect public health and safety” during Jan. 17-21, she said.

It was a sign that inauguration-related costs for the district could be higher than the $15 million already appropriated by the federal government for emergency planning and security.

In California, we have been in a state of emergency for all sorts of reasons like fires, floods, and budget deficits. Of course, our skyrocketing inventory of foreclosures isn’t helping relieve our fiscal problems.  Last year, we had a quarter million foreclosures and we will probably beat that record this year.

The Mercury News:

Last year’s statewide total of 249,940 foreclosures was up 158 percent from just under 97,000 in 2007, when total foreclosures barreled ahead of the former record-high year of 1996. That year, just over 58,000 California owners lost their properties to foreclosure, according to MDA DataQuick, another company that tracks such information.

The year-end foreclosure numbers are sobering, and so was the month of December, by at least one measure. After three months in which “notices of default” were far fewer than earlier in 2008, in December lenders filed 42,421 such notices statewide, nearly doubling the total number sent to California property owners in November. Default notices are the documents lenders send to late-paying homeowners to notify them that foreclosure proceedings are beginning.

Notices of default had dropped off steeply in September following the enactment of a new state law requiring mortgage companies to give delinquent homeowners 30 days’ notice before beginning the foreclosure process with a notice of default.

I know every single state is dealing with the foreclosure issues and the sinking economy. We have spent and wasted money on the worthless bailouts. I get tired of listening to the “experts” claim it will be worse if we don’t do anything. Those are just theories based on fear and not facts. Now, both federal and state governments continue to waste money that it doesn’t have. We have budget deficits on both levels and yet they feel it is acceptable to spend even more money if they deem it worthy.

The message  both the old and new administration is sending out is that the recession is your problem, not theirs. They will use our tax money (public funds) to bail out Bear Stearns, AIG, Fannie Mae, Freddie Mac, to fund TARP (which is now a bailout for big banks and auto companies), and even declare a state of emergency so we can throw the biggest party.

The national economy is in a true state of emergency.  Declaring the Inauguration in a state of emergency is an excuse or a method to game the system and shake out some federal money for the state.  This is the wrong message to send and continued irresponsible government spending.