Sunday, July 11, 2010

BloggeRhythms 7/11/2010

Although my friend, Lannie Rose, might think the following is a politically slanted commentary, it's not. It's just another item where politicians, period, insert their ideas into policy-making regardless of the situation, costs, after-effects or ultimate ramifications. In this case, they're attempting to weaken an aspect of the banking system that is far too critical to this nation presently, and likely to remain that way, because it always has. The Federal Reserve banking system.

The financial overhaul bill is about to become law. In it, House Democrats have included a largely overlooked provision that would create diversity czars to promote racial and gender hiring in federal agencies -sparking concerns about racial quotas, government waste and charges that Democrats are attempting to politicize the Federal Reserve.

Diana Furchtgott-Roth, an adjunct fellow at the Manhattan Institute and a senior fellow at the Hudson Institute, said the bill should be sent back to conference without this provision, citing concerns about racial quotas and costs.

"The chief concern is that you're moving from a situation where discrimination is prohibited, which is well and good and that is established law, to a situation where there are quotas in the workplace," She contends the law would then extend to contractors and subcontractors, eventually leading to quotas in the private sector. "And those are two very, very different things."

She said the law would create at least 20 new offices and up to 29 if every Treasury agency is required to create a minority office. "It would probably cost a million or over" to operate on an annual basis for each office, also noting that the Cabinet-level departments all have similar offices in place and questioned why more are needed.

She added that, "This is a very serious concern, we have a deficit of over a trillion dollars ($13,192,234,850,314.21 at 11:42AM this morning.) Every American knows that we need to cut the deficit and not only is this a waste of money but it implies that the existing offices we have are a waste of money (too)."

So, how does this happen? Why is it that politicians insist on fixing things that aren't broken and in order to push their own agendas take everyone else down with them in the process? Somehow, somewhere, these people have to be made to understand that they've already bled the system dry, and there's nothing left to sop up.

Though I still think the drumbeats getting louder, foretelling that all of them will be replaced soon, regardless of political affiliation, the way things look now if the financial bleeding doesn't cease, we may have to sell the drum to buy food.

That's it for today folks.

Adios

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