Weekly Comments Archive
Archived Issue
Sunday, January 1, 2012
ISSUE #688
How $400 now can cost you $4000 later

Jan. 1, 2012

COLUMBUS: The campaign in Iowa is coming down to the last minute. The going rate for a vote is around $100; that’s about what the Republican candidates will spend in total. The only prediction I’ll make is this: the Democratic Caucus will be won by Barrack Obama.

For the Republicans, Governor Romney could win Iowa and then sweep the primaries, but I’ve got my doubts. One thing about Mitt; the more candidates there are in the primaries, the more he likes it.

Virginia is having second thoughts about limiting their Presidential primary to only two candidates. These Republicans are spending a pile of money on their national campaigns, and Virginia wants their share. Instead of requiring 10,000 Virginians to sign a petition for a candidate, the Virginia governor (after consulting with the Tourism Board) said, “Any candidate who promises to spend a half a million dollars in Virginia should be on the ballot.”

President Obama is relaxing on a beach in Hawaii complaining that Congress is doing nothing. He didn’t say whether it was the Republicans in the House or the Senate Democrats he was upset with.  Of course a lot of the folks he is complaining about are also vacationing.

The President wants Congress to raise the debt ceiling. Didn’t they do that in August? Did I miss something? I thought they agreed to cut expenses so we could stop borrowing. As fast as the debt ceiling is being raised, in a year or two you’ll need a telescope to see it.

With shoppers doing so much Christmas buying on credit, the government isn’t the only one raising their debt ceiling.

Remember that two-month reduction in Social Security tax payments? If you’re celebrating because you get to keep an extra $400 or so in January and February, you had better not plan to buy a house in the next 10 years. If you do, and the mortgage is with Fannie or Freddie for $200,000, that reduction will end up costing you about $4000.

I read that in Oregon and Washington, the electric company is working on a plan to store excess energy produced by wind machines for later use when the wind dies down.  Now, where that plan would really pay off is Washington, DC.  Congress spews out enough excess wind, they could heat the whole town.

Historic quotes by Will Rogers:
“I told you not to be too optimistic about the Senate… We pay for wisdom, and we get wind.”
 DT # 574, May 29, 1928

 “Did you read all the New Year’s optimism by all our leading men and bankers? Same gang every year. Every one either a millionaire or an officeholder… Looks like just for the novelty one newspaper would print what some poor man saw in store for the coming year.” DT# 448, Jan. 2, 1928


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