State of the Union: Why I won't be watching

Tomorrow night is the State of the Union address by President Obama.  As the title of this post states, I will not be watching.

It isn't because I can't find the time or because I believe that what he says will have no impact upon me. 

I won't be watching because I can't stand to watch one more speech reminding me how President Obama's motivations are nearly the opposite of my own.

One item I expect him to take credit for is an agreement between some states and the 5 largest mortgage lenders (outside of the Fannie and Freddie) that gives $20,000,000,000 to people who over-purchased.

"$17 billion would go toward reducing the principal that struggling homeowners owe on their mortgages."

"About $3 billion would to help homeowners refinance at 5.25 percent."

Let me cut to the chase.  The money does not magically come from thin air.  It also doesn't come from those "horrible" CEOs who have contracts per-arranged with  golden parachutes.  It comes from 401k plans.  (In other words, it comes from those of us who are trying to invest for our future retirement like good citizens.)  (Please see previous blog posts if this leap here is too much for you.)

So, the President will most likely get on national TV to talk to me (and a whole bunch of other responsible Americans) and tell us that he is taking from us to give to irresponsible people who over-purchased on their houses.

Or, stated differently, we're going to take the allowance of the good kid who saved and give it to the kid who blew his money on the cheap toy that broke.  And the reason is that the kid whose toy broke is sad.

Frankly, it doesn't really matter whether or not the President specifically announces this specific "great" agreement or 15 other ones.  He has announced so many initiatives with the same consequences (punish the good/responsible and reward the bad/irresponsible) that I am simply tired of hearing how doing the right thing is going to cost me and other responsible people even more money.

Aloha.