After quietly returning to Washington from his
457th vacation so far this year Martha’s Vineyard getaway retreat, President Obama has revealed plans to unveil a bold new proposal to address our nation’s monstrous difficult economic situation. In addition to the haven’t we been down this road before High Risk Loan Expansion Act (HRLEA) that will officially be released sometime next week by some Democratic Senator, the President intends to also have yet another Democratic member of the House introduce the Ignorance Prevention Act of 2011 (INPA).
The bills together would, according to Administration officials go “along way in protecting the people from making
dumb uninformed decisions. And would invariably help our economy by preventing wasteful spending at the personal level… thereby making more money available to the government for confiscation by way of taxes revenue enhancement measures. As an ancillary benefit, this legislation would also… in the long run, prevent the government from having to spend additional revenue correcting people’s individual right to choose mistakes.” ~ Josh Earnest, Deputy White House Press Secretary.
When asked about the inconsistency in advancing both the HRLEA and the INPA Mr. Earnest responded:
“There’s really no inconsistency at all. You see, the HRLEA is about jump starting our economy by enabling the people
that helped crash the system in the first placeto buy homes again that they still can’t afford. This would have a disastrousstabilizing effect on the housing market and would help restore the artificially inflated housing prices prior to the collapseconsumer confidence in the private sector. Thereby improving the economy. As it relates to INPA, one helps the other. We first correct the unfair consequence of governmental intrusion into the home loan marketthe Bush Administration’s lack of fiscal discipline and then we prevent it from happening again by way of INPA. Like everything we do,it’s a complete solution to the problem at hand.”
Specifics on the proposals are
sketchy limited (please see our article on the HRLEA for details about the proposal) but INPA would prevent people from making unwise decisions being taking advantage of by criminals both online and in the streets. In conjunction with the Internet Protection Act (IPA) this bill would give the government along with the 27,000 other laws we already have the power to go after cyber criminals, street peddlers and wall street tycoons and the naive people that they take advantage of.
When asked about the yet-to-be proposed legislation House Minority Leader (Rep.) Nancy Pelosi (D-CA) stated “Yes,
silly people need to be protected. I’ll have you know… that just the other day I discovered that a computer savvy dementia patient in my district went online and ordered drugs from Thailand. Can you believe that? The cyber criminals actually helped them order the drugs, find their credit card information and their billing address. This cannot stand! Next thing you know, someone is going to think they’re ordering a power drink and end up getting spent nuclear rods from Kazahkstan. Our Government must defend the rights of the unthinking masses people.” Rep. Pelosi dismissed concerns about the bill’s 10,250 pages saying “Sometimes… you just have to vote for something before you find out what’s in it.”
Republicans were openly skeptical about the legislation. Senate Minority Leader Mitch McConnell (R-KY) responded “Well, we know people get taken advantage of all the time.
..the last Presidential election is proof of that. But I’m not sure having more people in DC making people’s personal decisions is the right track either.”