Friday, February 27, 2009

Hallelujah! An Honest Man on the Left

Notable & Quotable - WSJ.com:
"Liberal columnist Michael Kinsley, writing in the Washington Post, on the
hidden dangers of deficit spending:
[E]ven if the stimulus is a magnificent
success, the money still has to be paid back. The plan of record apparently is
that we keep borrowing, spending and stimulating, faster and faster, until
suddenly, on some signal from heaven or Timothy Geithner, we all stop spending
and start saving in recordbreaking amounts. Oh sure, that will work."

Read the whole thing - it's excellent. When I see someone like liberal columnist Michael Kinsey stepping up and telling the truth, it gives me hope.

Thursday, February 26, 2009

Karl Rove Says Barack Obama's Speeches Address Positions Republicans Don't Hold - WSJ.com

Karl Rove Says Barack Obama's Speeches Address Positions Republicans Don't Hold - WSJ.com:
"Mr. Obama portrays himself as a nonideological, bipartisan voice of reason.
Everyone resorts to straw men occasionally, but Mr. Obama's persistent use of
the device is troubling. Continually characterizing those who disagree with you
in a fundamentally dishonest way can be the sign of a person who lacks
confidence in the merits of his ideas.
It was said that Lincoln crafted his
arguments in 'resonant words that enriched the political dialogue of his age.'
Mr. Obama's straw men aren't enriching the dialogue of our age. They are
cheapening it. Mr. Obama should stop employing them."

I noted this same thing in my post on the Congressional address. But Karl Rove nails it. Pres. Obama constantly positions his policies as the rational alternative to irratational positions he leads you to believe are the positions of his foes. But they are really just straw men - extreme positions that are advocated by no serious adversary. I wonder if he could make a case for his policies if he had to defend them against rational alternatives?

Wednesday, February 25, 2009

The President's Address to Congress

Excerpts of the President's address to the Congress, with running commentary. The use of all caps is not meant to denote a loud voice or anger, it was just the easiest way to distinguish the commentary from the text of the speech.


Madame Speaker, Mr. Vice President, members of Congress, and the first lady of the United States:
I've come here tonight not only to address the distinguished men and women in this great chamber, but to speak frankly and directly to the men and women who sent us here…
But while our economy may be weakened and our confidence shaken, though we are living through difficult and uncertain times, tonight I want every American to know this:
We will rebuild, we will recover, and the United States of America will emerge stronger than before. STRONGER HOW, BY CUTTING DEFENSE SPENDING? BY ADOPTING THE CENTRAL COMMAND AND CONTROL ECONOMIC POLICIES THAT HAVE STRAIGHT-JACKETED WESTERN EUROPE FOR DECADES?
The weight of this crisis will not determine the destiny of this nation. The answers to our problems don't lie beyond our reach. They exist in our laboratories and universities, in our fields and our factories, in the imaginations of our entrepreneurs and the pride of the hardest-working people on Earth. Those qualities that have made America the greatest force of progress and prosperity in human history we still possess in ample measure. What is required now is for this country to pull together, confront boldly the challenges we face, and take responsibility for our future once more. NO, THE FUTURE WILL HAVE TO TAKE RESPONSIBILITY FOR US – BY PAYING OFF THE DEBTS WE ARE RUNNING UP, CREATING PROGRAMS THAT WE CANNOT PAY FOR IN OUR LIFETIMES…

The fact is, our economy did not fall into decline overnight. Nor did all of our problems begin when the housing market collapsed or the stock market sank. We have known for decades that our survival depends on finding new sources of energy. WHAT? Yet we import more oil today than ever before. NOT TRUE – SEE FACTCHECK.ORG AND IF IT WERE TRUE, WOULDN’T THAT SUGGEST WE DRILL FOR OIL HERE IN AMERICA? SOMETHING YOU JUST REVERSED COURSE ON FROM THE PREVIOUS ADMINISTRATION? The cost of health care eats up more and more of our savings each year, yet we keep delaying reform. BUSH PROPOSED MANY REFORMS, WHICH WERE STIFF-ARMED BY THE PARTISAN DEMOCRATS IN CONGRESS Our children will compete for jobs in a global economy that too many of our schools do not prepare them for. And though all these challenges went unsolved, we still managed to spend more money and pile up more debt, both as individuals and through our government, than ever before.
In other words, we have lived through an era where too often, short-term gains were prized over long-term prosperity, where we failed to look beyond the next payment, the next quarter, or the next election. A surplus became an excuse to transfer wealth to the wealthy TRANSFER OF WEALTH TO THE WEALTHY? WHERE DID THE WEALTH COME FROM? HE TALKS AS IF THE GOVERNMENT MAKES ALL THIS MONEY, AND GOVERNMENT THEN DOLES IT OUT. ECONOMIC EQUALITY IS SIMPLY A MATTER OF CHANGING THE ALLOTMENTS GOVERNMENT MAKES TO VARIOUS GROUPS. THIS IS A CLEAR EXAMPLE OF PRES OBAMA’S MARXIST WORLDVIEW instead of an opportunity to invest in our future. Regulations were gutted for the sake of a quick profit at the expense of a healthy market. COULD YOU TELL US WHAT YOU ARE TALKING ABOUT? MUST YOU ALWAYS SPEAK IN GENERALITIES? THIS CRISIS OCCURRED UNDER A CRUSHING REGIME OF GOVERNMENT REGULATION. THE PROBLEM IS NOT THAT THERE WAS TOO LITTLE REGULATION, BUT THAT SUCH REGULATION IS INHERENTLY INEFFECTIVE. People bought homes they knew they couldn't afford from banks and lenders who pushed those bad loans anyway. WHY DID THE BANKERS DO THAT? WHO WAS PRESSURING THEM TO MAKE THE LOANS? WHO WAS TAKING THEM OFF THE HOOK FOR THE RISK OF MAKING BAD LOANS? And all the while, critical debates and difficult decisions were put off for some other time on some other day. LIKE, FOR EXAMPLE, SOCIAL SECURITY REFORM, WHICH THE DEMOCRATS PREFERRED TO DEMAGOGUE TO GAIN SENIOR VOTES RATHER THAN WORK WITH PRESIDENT BUSH TO TACKLE THE PROBLEM?
Well that day of reckoning has arrived, and the time to take charge of our future is here.
Now is the time to act boldly and wisely — to not only revive this economy, but to build a new foundation for lasting prosperity. Now is the time to jump-start job creation, restart lending, and invest in areas like energy, health care and education that will grow our economy, even as we make hard choices to bring our deficit down. That is what my economic agenda is designed to do, and that's what I'd like to talk to you about tonight. TOO BAD THAT DOESN’T DESCRIBE WHAT THE STIMULUS DOES. THE STIMULUS CREATES NEW PERMANENT ENTITLEMENT PROGRAMS WHICH WILL STRAP OUR FEDERAL , STATE, AND LOCAL GOVERNMENTS WITH OBLIGATIONS THEY CAN’T AFFORD, LONG AFTER THIS ECONOMIC CRISIS IS OVER.
It's an agenda that begins with jobs.
As soon as I took office, I asked this Congress to send me a recovery plan by President's Day that would put people back to work and put money in their pockets. Not because I believe in bigger government — I don't. I’M LEFT SPEACHLESS BY THAT ONE! Not because I'm not mindful of the massive debt we've inherited — I am. “AND I AM SO WORRIED ABOUT THAT DEFICIT THAT I DECIDED TO TRIPLE IT IN 30 DAYS!” I called for action because the failure to do so would have cost more jobs and caused more hardships. In fact, a failure to act would have worsened our long-term deficit by assuring weak economic growth for years. That's why I pushed for quick action. “SO QUICK NO ONE EVEN HAD TIME TO READ IT” And tonight, I am grateful that this Congress delivered, and pleased to say that the American Recovery and Reinvestment Act is now law.
Over the next two years, this plan will save or create 3.5 million jobs. More than 90 percent of these jobs will be in the private sector — jobs rebuilding our roads and bridges, constructing wind turbines and solar panels, laying broadband and expanding mass transit. AGAIN, WOULD THAT THESE INFRASTRUCTURE PROJECTS REPRESENTED ANY MEANINGFUL PERCENTAGE OF WHAT IS BEING SPENT, AND WOULD THAT THEY COULD BE IMPLEMENTED QUICKLY ENOUGH TO IMPACT THIS CURRENT DOWNTURN.
Because of this plan, there are teachers who can now keep their jobs and educate our kids. Health care professionals can continue caring for our sick. There are 57 police officers who are still on the streets of Minneapolis tonight because this plan prevented the layoffs their department was about to make.
Because of this plan, 95 percent of the working households in America will receive a tax cut — a tax cut that you will see in your paychecks beginning on April 1. THIS USE OF THE WORDS TAX CUT IS PHONY. THE CONGRESSIONAL BUDGET OFFICE CALLS THEM DIRECT SPENDING – SEE FACTCHECK.ORG
Because of this plan, families who are struggling to pay tuition costs will receive a $2,500 tax credit for all four years of college. And Americans who have lost their jobs in this recession will be able to receive extended unemployment benefits and continued health care coverage to help them weather this storm.
I know there are some in this chamber and watching at home who are skeptical of whether this plan will work. I understand that skepticism. Here in Washington, we've all seen how quickly good intentions can turn into broken promises and wasteful spending. And with a plan of this scale comes enormous responsibility to get it right. AT THIS SCALE IT IS IMPOSSIBLE TO GET IT RIGHT, EVEN IF WE WEREN’T RELYING UPON A BUNCH OF GOVERNMENT BUREAUCRATS
That is why I have asked Vice President Biden to lead a tough, unprecedented oversight effort — because nobody messes with Joe. WELL AT LEAST THE PRESIDENT HAS A SENSE OF HUMOR! I have told each member of my Cabinet as well as mayors and governors across the country that they will be held accountable by me and the American people for every dollar they spend. WHAT ARROGANCE. THE FEDERAL GOVERNMENT SIEZES OUR MONEY, THEN DOLES IT BACK OUT TO OUR STATES AND CITIES WITH STRINGS ATTACHED. THE FEDS OF COURSE KNOW BETTER THAN OUR GOVERNORS AND OUR MAYORS WHAT NEEDS TO BE DONE WITH OUR MONEY IN OUR STATES AND CITIES. AND THE FEDERAL GOVERNMENT IS GOING TO ENFORCE WISE AND CAREFUL SPENDING, HA HA HA! I have appointed a proven and aggressive inspector general to ferret out any and all cases of waste and fraud. And we have created a new Web site called recovery.gov so that every American can find out how and where their money is being spent. “BUT NOT UNTIL WE HAVE PASSED ALL THE SPENDING BILLS AND IT’S TOO LATE TO STOP US!” THAT IS WHY NANCY PELOSI WILL NOT PUT THE UPCOMING BUDGET DOCUMENTS ON THE WEB FOR THE CITIZENS TO INSPECT…
That is why this administration is moving swiftly and aggressively to break this destructive cycle, restore confidence and restart lending.
We will do so in several ways. First, we are creating a new lending fund that represents the largest effort ever to help provide auto loans, college loans and small business loans to the consumers and entrepreneurs who keep this economy running.
Second, we have launched a housing plan that will help responsible families facing the threat of foreclosure lower their monthly payments and refinance their mortgages. It's a plan that won't help speculators or that neighbor down the street who bought a house he could never hope to afford, but it will help millions of Americans who are struggling with declining home values HE HAS NO BASIS TO MAKE THIS CLAIM – SEE FACTCHECK.ORG — Americans who will now be able to take advantage of the lower interest rates that this plan has already helped bring about. In fact, the average family who refinances today can save nearly $2000 per year on their mortgage.
Third, we will act with the full force of the federal government to ensure that the major banks that Americans depend on have enough confidence and enough money to lend even in more difficult times. And when we learn that a major bank has serious problems, we will hold accountable those responsible, force the necessary adjustments, provide the support to clean up their balance sheets, and assure the continuity of a strong, viable institution that can serve our people and our economy.
I understand that on any given day, Wall Street may be more comforted by an approach that gives banks bailouts with no strings attached and that holds nobody accountable for their reckless decisions. “BUT THAT’S BEST LEFT TO GOVERNMENT. WE ARE USED TO NOT BEING ACCOUNTABLE FOR OUR RECKLESS DECISIONS!” But such an approach won't solve the problem. And our goal is to quicken the day when we restart lending to the American people and American business and end this crisis once and for all.
I intend to hold these banks fully accountable for the assistance they receive, and this time they will have to clearly demonstrate how taxpayer dollars result in more lending for the American taxpayer. This time, CEOs won't be able to use taxpayer money to pad their paychecks or buy fancy drapes or disappear on a private jet. Those days are over. “I HAVE TOLD JOE BIDEN AND TIM GEITHNER TO BEGIN IMMEDIATELY INSPECTING THE DRAPES OF EACH AND EVERY BANK OFFICER AND DIRECTOR IN THIS NATION!”
Still, this plan will require significant resources from the federal government — and yes, probably more than we've already set aside. But while the cost of action will be great, I can assure you that the cost of inaction will be far greater, for it could result in an economy that sputters along for not months or years, but perhaps a decade. HOW WILL WE EVER KNOW? MANY THINK THAT ALL OF THE FRENETIC GOVERNMENT SPENDING AND “ACTION” IN THE 1930’S GREATLY PROLONGED THE DEPRESSION That would be worse for our deficit, worse for business, worse for you and worse for the next generation. And I refuse to let that happen.
I understand that when the last administration asked this Congress to provide assistance for struggling banks, Democrats and Republicans alike were infuriated by the mismanagement and results that followed. So were the American taxpayers. So was I. “I ASSURE YOU THERE WILL BE NO WASTE, FRAUD OR MISMANAGEMENT IN THE $800B STIMULUS PLAN – THE ONE WE DESIGNED IN TWO WEEKS AND PASSED WITHOUT READING - YOU HAVE MY WORD ON IT!”
So I know how unpopular it is to be seen as helping banks right now, especially when everyone is suffering in part from their bad decisions. I promise you — I get it.
But I also know that in a time of crisis, we cannot afford to govern out of anger or yield to the politics of the moment. My job — our job — is to solve the problem. Our job is to govern with a sense of responsibility. I will not spend a single penny for the purpose of rewarding a single Wall Street executive, “BY THE TIME MY ADMINISTRATION IS FINISHED, NO COMPETENT EXECUTIVE WILL WANT TO GET ANYWHERE NEAR THE BANKS WE HAVE ASSISTED. THE EXECUTIVES WHO TAKE THEIR PLACE MAY BE INCOMPETENT, BUT I ASSURE YOU THEY WILL NOT BE OVERPAID! “ but I will do whatever it takes to help the small business that can't pay its workers or the family that has saved and still can't get a mortgage.
That's what this is about. It's not about helping banks — it's about helping people. Because when credit is available again, that young family can finally buy a new home. And then some company will hire workers to build it. And then those workers will have money to spend, and if they can get a loan too, maybe they'll finally buy that car or open their own business. Investors will return to the market, and American families will see their retirement secured once more. OH THAT’S HOW IT WORKS? I THOUGHT THE YOUNG FAMILY WENT TO A TOWN HALL MEETING AND PLEADED WITH THE PRESIDENT, WHOSE ASSISTANT TOOK A NOTE, AND SHORTLY THEREAFTER THE TREASURY DEPARTMENT ORDERED A GOVERNMENT OWNED BANK TO LEND MONEY TO THE YOUNG COUPLE WHO THEN WENT TO THE DEPARTMENT OF HOUSING OF AND URBAN DEVELOPMENT TO BUILD IT FOR THEM. Slowly but surely, confidence will return, and our economy will recover.
So I ask this Congress to join me in doing whatever proves necessary. Because we cannot consign our nation to an open-ended recession. And to ensure that a crisis of this magnitude never happens again, I ask Congress to move quickly on legislation that will finally reform our outdated regulatory system. It is time to put in place tough, new commonsense rules of the road so that our financial market rewards drive and innovation, and punishes shortcuts and abuse.
The recovery plan and the financial stability plan are the immediate steps we're taking to revive our economy in the short-term. But the only way to fully restore America's economic strength is to make the long-term investments that will lead to new jobs, new industries, and a renewed ability to compete with the rest of the world. “AND WHO BETTER UNDERSTANDS THE NEEDS OF THE MARKETPLACE AND HOW TO INVEST YOUR MONEY THAN THE FEDERAL GOVERNMENT? LOOK HOW WELL WE HAVE INVESTED YOUR SOCIAL SECURITY CONTRIBUTIONS OVER THE YEARS!” The only way this century will be another American century is if we confront at last the price of our dependence on oil “BY ENCOURAGING OFFSHORE DRILLING AND DEVELOPING CLEAN SAFE NUCLEAR POWER “and the high cost of health care, the schools that aren't preparing our children EVEN THOUGH WE SPEND MORE PER CHILD THAN THE VAST MAJORITY OF THE NATION OF THE WORLD and the mountain of debt they stand to inherit. BY SPENDING AT AN EVER FASTER RATE! That is our responsibility.
In the next few days, I will submit a budget to Congress. So often, we have come to view these documents as simply numbers on a page or laundry lists of programs. I see this document differently. I see it as a vision for America — as a blueprint for our future.
My budget does not attempt to solve every problem or address every issue “JUST THE FINANCIAL SECTOR THE HEALTH CARE SECTOR THE ENERGY SECTOR AND GLOBAL WARM… I MEAN CLIMATE CHANGE.” It reflects the stark reality of what we've inherited — a trillion dollar deficit, A TRILLION? AS WE ALL NOW KNOW, A TRILLION’S NOTHING! WE WON’T STOP SPENDING TILL IT GETS TO A GOZILLION! a financial crisis and a costly recession.
Given these realities, everyone in this chamber — Democrats and Republicans — will have to sacrifice some worthy priorities for which there are no dollars. CAN YOU GIVE ME AN EXAMPLE? I KNOW, LET’S NOT TURN ON THE POWER TO THE WHITE HOUSE CHRISTMAS TREE THIS YEAR! And that includes me.
But that does not mean we can afford to ignore our long-term challenges. I reject the view that says our problems will simply take care of themselves, that says government has no role in laying the foundation for our common prosperity. I LOVE THIS DEVICE HE USES – NAME ME ONE PERSON THAT SAYS GOVERNMENT HAS NO ROLE? IF YOU DON’T SHARE THE PRESIDENT’S STATIST PROCLIVITIES THEN YOU MUST BE FOR NO GOVERNMENT AT ALL.
For history tells a different story. History reminds us that at every moment of economic upheaval and transformation, this nation has responded with bold action and big ideas. In the midst of civil war, we laid railroad tracks from one coast to another that spurred commerce and industry. WELL NOT REALLY – SEE FACTCHECK.ORG From the turmoil of the industrial revolution came a system of public high schools that prepared our citizens for a new age. “AND THEY HAVEN’T CHANGED SINCE. AND THEY WON’T CHANGE UNDER MY ADMINISTRATION AS LONG AS THE NEA KEEPS FORKING OVER THE DOUGH” In the wake of war and depression, the GI Bill sent a generation to college and created the largest middle-class in history. And a twilight struggle for freedom led to a nation of highways, an American on the moon and an explosion of technology that still shapes our world.
In each case, government didn't supplant private enterprise, it catalyzed private enterprise. It created the conditions for thousands of entrepreneurs and new businesses to adapt and to thrive. WHAT PERCENTAGE OF OUR GDP DID THOSE GOVERNMENT PROGRAMS REPRESENT?
We are a nation that has seen promise amid peril and claimed opportunity from ordeal. Now we must be that nation again. That is why, even as it cuts back on the programs we don't need, LIKE WHAT? the budget I submit will invest in the three areas that are absolutely critical to our economic future: energy, health care and education.
It begins with energy.
We know the country that harnesses the power of clean, renewable energy will lead the 21st century. And yet, it is China that has launched the largest effort in history to make their economy energy efficient. THEY ARE BUILDING COAL FIRED PLANTS BY THE HUNDREDS We invented solar technology, but we've fallen behind countries like Germany and Japan in producing it. New plug-in hybrids roll off our assembly lines, but they will run on batteries made in Korea. OVERREACH - SEE FACTCHECK.ORG
Well I do not accept a future where the jobs and industries of tomorrow take root beyond our borders — and I know you don't either. It is time for America to lead again. WE NEVER STOPPED LEADING –STOP TALKING US DOWN – OUR ECONOMY IS THE ENVY OF THE WORLD, EVEN NOW
Thanks to our recovery plan, we will double this nation's supply of renewable energy in the next three years. We have also made the largest investment in basic research funding in American history — an investment that will spur not only new discoveries in energy, but breakthroughs in medicine, science and technology.
We will soon lay down thousands of miles of power lines that can carry new energy to cities and towns across this country. CAN’T WAIT TO SEE THE ENVIRONMENTAL IMPACT STATEMENTS ON THOSE PROJECTS And we will put Americans to work making our homes and buildings more efficient so that we can save billions of dollars on our energy bills.
But to truly transform our economy, protect our security and save our planet from the ravages of climate change,THE RAVAGES OF CLIMATE CHANGE? WHAT RAVAGES? we need to ultimately make clean, renewable energy the profitable kind of energy. So I ask this Congress to send me legislation that places a market-based cap on carbon pollution and drives the production of more renewable energy in America. JUST WHAT AN ECONOMY IN A DEEP RECESSION NEEDS – A MASSIVE TAX ON ENERGY! And to support that innovation, we will invest fifteen billion dollars a year to develop technologies like wind power and solar power, advanced biofuels, clean coal OH YOU ARE FOR COAL THIS WEEK? and more fuel-efficient cars and trucks built right here in America.
As for our auto industry, everyone recognizes that years of bad decision-making I GUESS THE UNIONS DIDN’T HAVE ANYTHING TO DO WITH IT! and a global recession have pushed our automakers to the brink. We should not, and will not, protect them from their own bad practices. But we are committed to the goal of a retooled, re-imagined auto industry that can compete and win. Millions of jobs depend on it. Scores of communities depend on it. And I believe the nation that invented the automobile WELL, NOT REALLY – SEE FACTCHECK.ORG cannot walk away from it.
None of this will come without cost, nor will it be easy. But this is America. We don't do what's easy. We do what is necessary to move this country forward.
For that same reason, we must also address the crushing cost of health care. CRUSHING?
This is a cost that now causes a bankruptcy in America every thirty seconds. WELL NOT REALLY – THAT WOULD REQUIRE THAT EVERY SINGLE BANKRUPTCY IN THE US WERE ATTRIBUTABLE TO HEALTHCARE COSTS – SEE FACTCHECK.ORG By the end of the year, it could cause 1.5 million Americans to lose their homes. In the last eight years, premiums have grown four times faster than wages. PREMIUMS HAVE BEEN CONTROLLED BY GOVERNMENT, WHICH DOES NOT ALLOW A FREE, NATIONAL MARKET FOR HEALTH INSURANCE TO EXIST And in each of these years, one million more Americans have lost their health insurance. It is one of the major reasons why small businesses close their doors and corporations ship jobs overseas. BUSINESS SHOULD NOT BE IN CHARGE OF PROVIDING HEALTH CARE – THAT IS THE VESTIGE OF A WWII GOVERNMENT POLICY THAT THE DEMOCRATS HAVE RESISTED CHANGING And it's one of the largest and fastest-growing parts of our budget. BECAUSE WE HAVE REFUSED TO INCLUDE MARKET-BASED REFORMS IN OUR GOVERNMENT PROGRAMS
Given these facts, we can no longer afford to put health care reform on hold NEVER LET A CRISIS GO TO WASTE…
This budget builds on these reforms. It includes an historic commitment to comprehensive health care reform — COMPREHENSIVE REFORM OR COMPREHENSIVE COVERAGE? I DON’T SEE ANY REFORM – JUST THE GOVERNMENT EXPANDING ITS INEFFICIENT SYSTEM TO MORE AND MORE AMERICANS UNTIL IT’S THE ONLY GAME IN TOWN a down-payment on the principle that we must have quality, affordable health care for every American. It's a commitment that's paid for in part by efficiencies in our system that are long overdue. WHAT A JOKE – ELECTRONIC HEALTH RECORDS ARE GOING TO MAKE A MEANINGFUL DENT IN THE HEALTHCARE BUDGET? I’LL BE HAPPY IF THEY MANAGE TO PAY FOR THEMSELVES IN MY LIFETIME And it's a step we must take if we hope to bring down our deficit in the years to come.
Now, there will be many different opinions and ideas about how to achieve reform, and that is why I'm bringing together businesses and workers, doctors and health care providers, Democrats and Republicans to begin work on this issue next week. LET ME GUESS, ANOTHER COMMISSION? THOSE WORK REALLY WELL…
Right now, three-quarters of the fastest-growing occupations require more than a high school diploma. And yet, just over half of our citizens have that level of education. We have one of the highest high school dropout rates of any industrialized nation. And half of the students who begin college never finish. “THAT IS WHY I AM PROPOSING TO KEEP SHOVELING MORE AND MORE MONEY TO THE TEACHERS UNIONS TO KEEP UP THE GOOD WORK”
This is a prescription for economic decline, because we know the countries that out-teach us today will out-compete us tomorrow. That is why it will be the goal of this administration to ensure that every child has access to a complete and competitive education — from the day they are born to the day they begin a career. WHY DOESN’T THE GOVERNMENT START EDUCATING THEM IN THE WOMB?...
But we know that our schools don't just need more resources. They need more reform. That is why this budget creates new incentives for teacher performance; pathways for advancement, and rewards for success. “AND WHY WE HAVE SURREPTICIOUSLY REMOVED ALL FUNDING FOR INNOVATIVE SCHOOL CHOICE INITIATIVES IN THE DISTRICT OF COLOMBIA” We’ll invest in innovative programs that are already helping schools meet high standards and close achievement gaps. And we will expand our commitment to charter schools.
It is our responsibility as lawmakers and educators to make this system work. But it is the responsibility of every citizen to participate in it. And so tonight, I ask every American to commit to at least one year or more of higher education or career training. This can be community college or a four-year school, vocational training or an apprenticeship. But whatever the training may be, every American will need to get more than a high school diploma. And dropping out of high school is no longer an option. It's not just quitting on yourself, it's quitting on your country — and this country needs and values the talents of every American. That is why we will provide the support necessary for you to complete college and meet a new goal: by 2020, America will once again have the highest proportion of college graduates in the world. AND THAT’S GOOD BECAUSE ____?...
I'm proud that we passed the recovery plan free of earmarks, HA HA HA! and I want to pass a budget next year that ensures that each dollar we spend reflects only our most important national priorities…
In order to save our children from a future of debt, we will also end the tax breaks for the wealthiest 2 percent of Americans. “THESE DEADBEATS ARE PAYING ONLY 50% OF ALL OF THE INCOME TAXES COLLECTED – CLEARLY THEY ARE UNDERTAXED! WHY SHOULDN’T THEY PAY 100%?” But let me perfectly clear, because I know you'll hear the same old claims that rolling back these tax breaks means a massive tax increase on the American people: If your family earns less than $250,000 a year, you will not see your taxes increased a single dime. I repeat — not one single dime. In fact, the recovery plan provides a tax cut — that's right, a tax cut — for 95 percent of working families. “WHICH IS REALLY HARD TO DO – I AM THE FIRST GUY EVER TO PULL THIS OFF – SINCE NOWHERE NEAR 95% OF AMERICANS PAY INCOME TAXES!” And these checks are on the way.
To preserve our long-term fiscal health, we must also address the growing costs in Medicare and Social Security. Comprehensive health care reform is the best way to strengthen Medicare for years to come. And we must also begin a conversation on how to do the same for Social Security while creating tax-free universal savings accounts for all Americans. BEGIN? WHERE WERE YOU IN 2005? …
We are now carefully reviewing our policies in both wars, and I will soon announce a way forward in Iraq that leaves Iraq to its people and responsibly ends this war. “IT’S JUST TOO EXPENSIVE, AND YOU KNOW HOW I FEEL ABOUT DEFICIT SPENDING!”
And with our friends and allies, “WHO ARE REALLY PULLING THEIR WEIGHT IN AFGHANISTAN, A WAR THEY ALL SUPPORTED.” we will forge a new and comprehensive strategy for Afghanistan and Pakistan to defeat al-Qaida and combat extremism. Because I will not allow terrorists to plot against the American people from safe havens half a world away. “I PREFER THEY DO THAT FROM FEDERAL PRISONS IN THE UNITED STATES AFTER I TRANSFER THEM FROM GITMO”…
To seek progress toward a secure and lasting peace between Israel and her neighbors, we have appointed an envoy to sustain our effort. GREAT NEW APPROACH! To meet the challenges of the 21st century — from terrorism to nuclear proliferation, from pandemic disease to cyber threats to crushing poverty — we will strengthen old alliances, forge new ones and use all elements of our national power.
And to respond to an economic crisis that is global in scope, we are working with the nations of the G-20 to restore confidence in our financial system, avoid the possibility of escalating protectionism BY INCLUDING A BUY AMERICA CLAUSE IN OUR STIMULULS BILL and spur demand for American goods in markets across the globe LIKE COLUMBIA. For the world depends on us to have a strong economy, just as our economy depends on the strength of the world's.
As we stand at this crossroads of history, the eyes of all people in all nations are once again upon us — watching to see what we do with this moment, waiting for us to lead. THAT SOUNDS ARROGANT TO ME – WE’RE JUST ANOTHER MEMBER OF THE UN…
Thank you, God bless you, and may God bless the United States of America.

Whopper of the Century (so far)

Prepared text of Obama's address to Congress:
"Not because I believe in bigger government — I don't."

I'm amazed the room didn't break out in uproarious laughter, or perhaps, uncontrollable coughing, as in the scene where the Delta Chi fraternity was being tried before the fraternity council in Animal House.

Monday, February 23, 2009

OOPS! We Did It Again!

Bloomberg.com: News:
"Arctic Sea Ice Underestimated for Weeks Due to Faulty Sensor
Email | Print | A A A

By Alex Morales

Feb. 20 (Bloomberg) -- A glitch in satellite sensors caused scientists to underestimate the extent of Arctic sea ice by 500,000 square kilometers (193,000 square miles), a California- size area, the U.S. National Snow and Ice Data Center said.

The error, due to a problem called “sensor drift,” began in early January and caused a slowly growing underestimation of sea ice extent until mid-February. That’s when “puzzled readers” alerted the NSIDC about data showing ice-covered areas as stretches of open ocean, the Boulder, Colorado-based group said on its Web site.

“Sensor drift, although infrequent, does occasionally occur and it is one of the things that we account for during quality- control measures prior to archiving the data,” the center said. “Although we believe that data prior to early January are reliable, we will conduct a full quality check.’’"


Have you ever heard of a single time when an "error" resulted in an under reporting of global temperatures? Whether it's NASA's seven year over reporting, the placement of vast numbers of temperature observation posts across the US near man-made heat sources, or proven errors in the models used by the infamous United Nations Intergovernmental Panel on Climate Change, the errors are alway made in one direction. This suggests fraud, not human error. For a great compendium on this topic, read today's IBD Editorial.

Sunday, February 22, 2009

Obama Administration Endorses Chavez Power Grab

Charles Krauthammer - Obama's 'Kick Me' Diplomacy - washingtonpost.com:
"when the State Department says that Hugo Chávez's president-for-life referendum, which was preceded by a sham government-controlled campaign featuring the tear-gassing of the opposition, was 'for the most part . . . a process that was fully consistent with democratic process,' you have to wonder if Month One is not a harbinger of things to come."


This is just the punchline of a devastating assessment of Team Obama's first month behind the wheel of foreign policy. Read the column. Jimmy Carter on steroids?

Is It Ignorance Of Or Antagonism To The Founding Principles?

George Will : A Lesson from the Framers - Townhall.com:
"Some governors have recently behaved badly in appointing people to fill U.S. Senate vacancies. Feingold's solution, of which John McCain is a co-sponsor, is to amend the 17th Amendment. It would be better to repeal it."


So many of the proposals from the left run counter to the intentions of our Framers. You wonder whether they are just ignorant, or if they consider themselves more evolved than those slave owning neanderthals that founded our nation. Unfortunately, I suspect 10% or less of graduating high school seniors today could explain the difference between a democratic and a republican form of government. The vast majority of Americans reading about Feingold's proposal will react, "yeah, more democracy, that has to be better, dude." Step one in pulling this nation back from the brink of European socialism is to start teaching our citizenry the principles upon which our nation was founded.

Saturday, February 21, 2009

Orwellian!

From Islamabad to Bradford by Mark Steyn on National Review Online:
"The Home Secretary is best known for an inspired change of terminology: Last
year she announced that henceforth Muslim terrorism (an unhelpful phrase) would
be reclassified as “anti-Islamic activity.” Seriously. The logic being that
Muslims blowing stuff up tends not to do much for Islam’s reputation — i.e.,
it’s an “anti-Islamic activity” in the same sense that Pearl Harbor was an
anti-Japanese activity."


There is no better (or more entertaining) chronicler of the islamization of western nations than Mark Steyn. His posts on National Review Online are must see.

The End of "Politics as Usual"

Barack Obama under fire for picking a crony fundraiser as his ambassador to Britain - Telegraph: "Critics said that it would have been more appropriate to dispatch a high profile diplomat at a time when there are fears in British government that Mr Obama is not as attached to the special relationship as his predecessors.
And they pointed out that there is little difference between handing a major diplomatic post to a fundraiser and the 'pay to play' scandal in which disgraced former Illinois governor Rod Blagojevich apparently auctioned off Mr Obama's senate seat to the highest bidder.
Mr Susman's reputation for hoovering large amounts of cash from deep pockets saw him nicknamed 'the vacuum cleaner' when he raised more than $240million for John Kerry's White House bid in 2004."


Talk about an ambassodor that sucks! I didn't see this in the news here in the US, but it was on the front page of the Telegraph's website.

Unions + Big Government = Failure

Matthew Kaminski Says Governor Arnold Schwarzenegger's California Is Verging on Fiscal Insolvency - WSJ.com:

"California brings to mind my last home, France -- God's country blessed with fertile soil for wines, sun-blanched beaches, and a well-educated populace. Amusingly, both states are led by bling-bling immigrants married to glamorous women and elected to shake up the status quo. In both departments, the
governator got a head start on Nicolas Sarkozy in Paris.

The parallels are also disquieting. The French have long experienced the unintended consequences of a large public sector. Ask them about it. As the number of people who get money from government grows, so does the power of constituencies dedicated to keep this honey dripping. Even when voters recognize the model carries drawbacks, such as subpar growth, high taxes, an uncompetitive business climate and above-average unemployment, their elected leaders find it near impossible to tweak the system. This has been the story of France for decades, and lately of California."


Obama, Pelosi, and Reid want to turn the whole country into France. When are we going to outlaw the unionization of public employees?

Thursday, February 19, 2009

Mini-Madoff Had Friends in High Places

Texas Businessman Sought Influence in Corridors of Capitol - WSJ.com: "Among the recipients of Mr. Stanford's largesse is House Ways and Means Committee Chairman Charles Rangel (D., N.Y.), who has long advocated lenient tax policies toward Virgin Islands residents and in 2007 introduced a bill to enforce a statute of limitations on IRS scrutiny of islanders' old tax returns. That year, Mr. Rangel traveled to Antigua for a development conference partly sponsored by Mr. Stanford, who also donated $28,300 to Mr. Rangel in 2008.

'I met Stanford a couple of times,' Mr. Rangel said. 'He has never discussed any legislative issue with me nor has anyone to my knowledge representing him ever discussed any legislation.'


He also was a big supporter of New York Democrat Gregory Meeks, a member of a House Financial Services subcommittee dealing with offshore banks that received an estimated $17,600 from a Stanford fund-raiser held in the Virgin Islands in July. Mr. Meeks's campaign later reimbursed the organizers of the event $3,591 for the cost of food and beverages, according to the campaign's financial disclosures.

From 2003 to 2006, Mr. Meeks and his wife traveled to the Caribbean every January on trips paid for by the Inter-American Economic Council, a group backed by Mr. Stanford, federal records show. The first trip was for 'fact finding' and subsequent trips were for a 'business roundtable,' often including hotel and meal charges of over $2,000. On at least one occasion, the trip was taken on Mr. Stanford's jet."
Mr. Stanford wrote two $250,000 checks to the Democratic Party in 2002.


"This leadership team will create the most honest, most open, and most ethical Congress in history" - Speaker-Elect Nancy Pelosi (D-CA)


Read the article on WSJ.com for the rest of the list of sleazy recipients of Stanford money. Standford is accused of ripping off clients for $8B.

Could Charley Rangel be more blatantly corrupt if he worked at it 24/7? Why is this abomination still the chairman of a critical house committee? Disgusting.

Mr Squeaky Clean President, will you please ask Nancy Pelosi to remove Mr Rangel from his post?

Tuesday, February 17, 2009

Archbishop of Canterbury Doesn't See the Harm of a Little Sharia In Our Midst

"Heere Bigynneth the Tale of the Asse-Hatte.
by Iowahawk

An Archbishop of Canterbury Tale

With apologies to Geoffrey Chaucer"


If you haven't been to Big Hollywood, you should, just to see Iowahawk's postings. Fiendishly funny, irreverent.

America is Not Brain Dead CONT'D

IBDeditorials.com: Editorials, Political Cartoons, and Polls from Investor's Business Daily -- Confidence Still Well Off Its Lows Even As Media Invoke Depression: "The latest IBD/TIPP Poll found that:

• Two-thirds (66%) of Americans think the media coverage of the current economy is sensationalistic.

• A majority (56%) believe coverage of the economy makes conditions sound worse than they really are.

• Half (50%) say the media do not present economic issues in a fair and objective way."




I share their dim view of media coverage of the economy. However, I am not as optimistic as IBD about the economic outlook. There are just so many unprecedented wild cards, at least from my experience. We live in a far flatter world than we had back in 1980, and we are dependent upon many, many foreign governments and central banks to deal with this situation effectively, or at least do no harm. The example of our own government is not reassuring.

Does This Policy Lineup Sound Familiar?

Raising Taxes Won't Solve California's Budget Deficit - WSJ.com: "It's sad to watch. The Golden State -- which a decade ago was the booming technology capital of the world -- has been done in by two decades of chronic overspending, overregulating and a hyperprogressive tax code that exaggerates the impact on state revenues of economic boom and bust. Total state expenditures have grown to $145 billion in 2008 from $104 billion in 2003 and California now has the worst credit rating in the nation -- worse even than Louisiana's. It also has the nation's fourth highest unemployment rate of 9.3% (after Michigan, Rhode Island and South Carolina) and the second highest home foreclosure rate (after Nevada)."


California is the poster child for Big Government outcomes. The Democrats want to bring this to a federal government near you...

I Was On Pins and Needles!

Hugo Chavez could succeed Fidel Castro as most enduring leader - Telegraph: "President Hugo Chavez was granted free rein to succeed Fidel Castro as Latin America's most enduring leader yesterday after Venezuelans voted to allow him to stand for office indefinitely."


I wasn't sure which way the free and democratic people of Venezuela were going to go on this one...

Monday, February 16, 2009

Fascinating History Of Mark-to-Market Accounting Rules

Untouchable Accounting Rules? Really? by Brian Wesbury on NRO Financial: "Fair-value accounting as we know it today is based on rule FAS 157, which was implemented by the FASB in 2007. But it has a longer history than that. Fair-value accounting existed in the 1930s, which was when we had the Great Depression. In 1938, President Roosevelt suspended those rules, and between then and 2007 the economy had no panics or depressions. Maybe its time we put fair value through the shredder once again."


This is a great column on mark-to-market, the accounting rule that helped shift the financial liquidity collapse into overdrive.

Reforming this rule was an obvious first move in dealing with the crisis. It's shocking that nothing has been done about this. But then again, why would we be surprised? Elimination of mark-to-market could ameliorate the liquidity crisis, but the Big Government types in Washington wouldn't get any goodies in return. When they dole out federal funds to banks, they get to start calling all the shots.

INSANITY: Doing the Same Thing Over and Over, and Expecting Different Results

Tzipi Livni: give up half of Land of Israel - Telegraph: "Drawing clear water between her centrist Kadima party and the Right-wing Likud party of her rival for the premiership, Benjamin Netanyahu, she conceded that claims on the territory must be abandoned for progress to be made.

She told a convention of American Jewish leaders that 'we need to give up half of the Land of Israel', using a term that refers to biblical borders that include today's Israel, the West Bank and Gaza."


I get it - the Palestinians want to leave in peace side-by-side with the Jewish state, they just need more elbow room.

I Guess Bellota Was Community Organizing in Caracas...

Hugo Chavez could succeed Fidel Castro as most enduring leader - Telegraph: "The opposition conceded defeat, although insisted that it had not been a fair contest with the government using state funds on an unprecedented scale to secure a 'yes' vote, while also controlling most of the media."


Bellota

America is Not Brain Dead CONT'D (nor Totalitarian)

Rasmussen Reports™: The Most Comprehensive Public Opinion Site.: "Just 38% of U.S. voters think that the government should require all radio stations to offer equal amounts of conservative and liberal political commentary.

Forty-seven percent (47%) oppose government-imposed political balance on radio stations, according to a new Rasmussen Reports national telephone survey. Fifteen percent (15%) are not sure which course is better.

These findings are a dramatic nine-point drop-off in support for the Fairness Doctrine from a survey last August when 47% said the government should require all radio and television stations to offer balanced political commentary."


However, it remains to be seen whether the Democrats in power care what the American public thinks.

Saturday, February 14, 2009

If At Least This Debacle Were Teaching Us a Valuable Lesson...CONT'D

Henry Kaufman Says Hard-to-Measure Economic Behavior Has Caused Wide Swings in Interest Rates - WSJ.com: "Amid the daily news about economic woes, it is useful to ponder the long view. And the long view shows that we now stand at the tail end of the greatest secular swing in interest rates in U.S. history. Interest rates are a barometer of economic conditions. So where have they been, and what can they tell us?"


This opinion piece starts out very promising. Some interesting economic history and a VERY scary graph (QUIZ: where do you think treasury bill rates are headed next?). But right on the heels of laying out some good history, Mr Kaufman's recommendations gravitate to government regulation while ignoring the obvious.

While I am sure there is potential benefit in selective tightening of rules around securitization and balance sheet accounting, we all know that for every regulation there will an innovation that side-steps it.

In the early years of Mr Kaufman's history, were things so much better because things were so much more regulated by the government? I think not. Did our parents and grandparents have to wade through 1/10th the volume of financial disclosures (Past Performance Is Not an Indication of Future Results, Offer Void Where Prohibited, Batteries Not Included) that we do now? How many SEC lawyers per capita were employed in the postwar period vs today? How many trial lawyers were crusading "on behalf of" our parents to protect them from securities fraud perpetrated by "greedy corporate executives?" I'll concede financial markets were simpler back then, but the increasing size and complexity of the markets doesn't argue for more reliance on regulation but less. The bigger and more complex the market is, the more we need to rely upon inherent, self-regulating mechanisms.


Here's what I think the differences were, and it is these differences which should guide our way forward:
1) Moral relativism wasn't nearly so pervasive. Moral and ethical constraints silently "regulated" countless decisions
2) Negative consequences awaited those who screwed up. Lack of consequences is at the root of this current economic downturn. The whole securitized mortgage free-for-all occurred against the backdrop of the implicit guarantee of the US government standing behind Fannie and Freddie securities. Then there was the runaway government spending - the consequences of which were obfuscated in the short-run by massive expansions in the money supply by the Fed.
3) People were less greedy - JUST KIDDING. You hear politicians (like John McCain during the election) implying the problem was greed. Excuse me, was greed just invented in the last decade? Greed was always there, just better held in check by 1) and 2), above.

Unfortunately, it is in the self interest of the big government crowd to chalk our problems up to insufficient regulation. That way they can amass more power in Washington. Unfortunately, they are driving us away from a culture of shared values and responsibility, and toward legalism and statism.

Friday, February 13, 2009

This is Big - Liberal DC Suburban Bastion Enforcing Immigration Law... Sort Of...

Montgomery Steps Up Reporting in ICE Efforts - washingtonpost.com: "Montgomery County police will soon start telling federal immigration authorities the names of all suspects they arrest for violent crimes and handgun violations, an approach that reflects growing concerns about illegal immigration and crime but stops short of the broader enforcement efforts used in some counties."


I wonder if they will register them to vote Democrat as part of the booking process?

That Should Save Us $100B or So...

Barack Obama spends Valentine's Day in Chicago - Telegraph: "In keeping with his promise to escape the White House 'bubble' and stay in touch with his old life and friends, the president was due to take a flight with his wife and daughters Sasha and Malia for what aides would be a low-key, four-day holiday weekend."


Breathe easy for four days.

BTW, while you are at the Telegraph site, visit this link, and see the perfectly golden-haloed Saint Barack image from AP

From Gordon's Lips to Nancy and Harry's Ears - This is Long Overdue In Washington

Gordon Brown to scrap final salary pensions for MPs - Telegraph: "Gordon Brown to scrap final salary pensions for MPs
Gold-plated final salary pensions for MPs could be scrapped, under plans put forward by Gordon Brown."


Bravo Prime Minister! In these desperate times, shouldn't we in the US be putting an end to the ridiculous pensions for life our federal legislators enjoy? Talk about golden parachutes.

Good News You Probably Don't See Featured on the MSM

IBDeditorials.com: Editorials, Political Cartoons, and Polls from Investor's Business Daily -- In Iraq's Vote, America Wins And Iran Loses: "In Iraq's Vote, America Wins And Iran Loses

By CHARLES KRAUTHAMMER | Posted Friday, February 13, 2009 4:20 PM PT

Preoccupied as it was poring through Tom Daschle's tax returns, Washington hardly noticed a near miracle abroad. Iraq held provincial elections.

There was no Election Day violence. Security was handled by Iraqi forces with little U.S. involvement. A fabulous bazaar of 14,400 candidates representing 400 parties participated, yielding results highly favorable to both Iraq and the U.S."


I will apologize in advance for slavishly recommending virtually every Krauthammer column. He is brilliant.

Remember how candidate Obama repeatedly asserted that the Iraq war was playing into the hands of Iran? Let's hope President Obama comes to terms with reality and builds upon this success instead of undermining it.

OOPS! This is the Chairman of the INTELLIGENCE committee?

US drones based in Pakistan, Senator Dianne Feinstein reveals in apparent gaffe - Telegraph: "US drones based in Pakistan, Senator Dianne Feinstein reveals in apparent gaffe
Senator Dianne Feinstein may have revealed an intimate military secret when she stated that American military drones used to bomb Pakistan's tribal areas operate out of a Pakistani air base."


She should resign her committee post - she is either too stupid or too irresponsible to be entrusted with our nation's secrets

A Class Act

Commerce Nominee Bows Out - WSJ.com: "WASHINGTON -- New Hampshire Republican Sen. Judd Gregg withdrew from consideration as Commerce secretary Thursday, saying his differences with the Democratic White House ran too deep.

The announcement was a fresh embarrassment for an administration rocked by a number of setbacks. While his recent predecessors each lost one or two early cabinet nominees, Mr. Obama has lost three less than a month into his term. And Mr. Gregg's withdrawal comes two days after a bank rescue plan was widely panned by financial markets and lawmakers from both parties, partly because of its lack of detail."


Sen Gregg is an honorable man.

Wednesday, February 11, 2009

The Big Lie - Tax Cuts Got Us Into This Mess, We Need Spending to Get Ourselves Out of It

IBDeditorials.com: Editorials, Political Cartoons, and Polls from Investor's Business Daily -- Taxing The Truth: "'We have tried that strategy time and time again,' the president said Monday of 'tax cuts for the wealthiest few Americans,' and 'it's only helped lead us to the crisis we face right now.'

Well, he's half-right: We have tried it again and again. But rather than create crises, economic growth has been restored. The evidence is pretty much beyond dispute."


But let's not confuse the Big Government folks with the facts.

Hugo Sometimes Lacks Finesse

BBC NEWS | Americas | Chavez to shut down opposition TV: "Chavez to shut down opposition TV
Hugo Chavez gives a speech at Fuerte Tiuna in Caracas, 28 December
The move has been called a grave violation of freedom of expression
Venezuelan President Hugo Chavez has said he will not renew the licence for the country's second largest TV channel which he says expires in March 2007."


If only he'd thought of the "fairness doctrine." He wouldn't have been written off as a tin horn dictator - he'd be a "progressive reformer!"

A Page NOT From the Playbook of Hugo Chavez

Concerns on Proposed Reduction of U.S. Nuclear Stockpile to 1,000 Weapons: "February 5, 2009

by Baker Spring
WebMemo #2274

According to press reports, President Obama has directed the U.S. to seek a future strategic arms control treaty with Russia that will reduce the U.S. nuclear stockpile to 1,000 weapons, an 80 percent reduction.[1] This leads to the question of how President Obama chose this number of 1,000. Unfortunately, circumstances make it clear that President Obama and his Administration have chosen this number arbitrarily."


Last I checked, Hugo wasn't looking to unilaterally disarm his country.

Take Heart - Washington May Be Brain Dead - But America is Not

Rasmussen Reports™: The Most Comprehensive Public Opinion Site.: "The latest Rasmussen Reports national telephone surveys found that the Democrats’ lead is down to just one percentage point. Forty percent (40%) of voters said they would vote for their district’s Democratic candidate while 39% said they would choose the Republican (see crosstabs).

This marks the lowest level of support for the Democrats in tracking history and is the closest the two parties have been on the generic ballot."


And they haven't even begun to enjoy the "benefits" of the plan yet...

Monday, February 9, 2009

Smoot-Hawley, Anyone?

It is widely recognized that the passage of the protectionist Smoot-Hawley Tariff Act in 1930 helped turn things from bad to worse at the beginning of the Great Depression...

IBDeditorials.com: Editorials, Political Cartoons, and Polls from Investor's Business Daily -- Buy American, Buy Depression: "The new administration watered down a protectionist 'Buy American' provision in the Senate stimulus bill and hoped all sides would go away happy. But they won't, as the European Union envoy to the U.S. explains."


The Buy America provisions of the stimulus package have little chance of doing any good, but great potential to do great harm. Thanks, Congress, for learning nothing from history.

Another Page Torn From Hugo's Playbook

They run the Venezuelan census from the Casa Amarilla, don't they?

Census Director to Work Directly with White House | 44 | washingtonpost.com: "Census Director to Work Directly with White House

By Philip Rucker
President Obama has decided to have the director of the U.S. Census Bureau work directly with the White House, the administration said today, a move that comes as the Census Bureau prepares to conduct the 2010 census that will determine redistricting of congressional seats."


SENATOR GREGG, YOU MUST RESIGN IMMEDIATELY!

Sunday, February 8, 2009

Hilarious! We need some stimulating humor...

Big Hollywood » Blog Archive » Congratulations: URGENT RESPONSE NEEDED - Payment Notification of your UNCLAIMED STIMULUS#more-43418

A New "Chicago School" of Economics

Reminiscent of his presidential debate exchange with Charlie Gibson regarding the impact of capital gains taxes on treasury revenue, President Obama once again showed what a serious economic mind he has:

Obama rejected calls for more tax cuts and significant slashing of the bill's
more than $800 billion price tag, and said complaints the package was a
spending bill rather than a stimulus bill were off base.
"What do you think a stimulus bill is?" he said. "That's the point."
To critics who argue that the government shouldn't be spending billions with a large and
growing deficit, Obama said, "I found this national debt doubled, wrapped in a big bow
waiting for me as I stepped into the Oval Office."

Obama fires up House Democrats to help push through stimulus bill - CNN.com

Oh, I see. The fact the George Bush, Nancy Pelosi, and Harry Reid already spent us into oblivion makes tripling that deficit in the space of two weeks a good economic policy. Guess you have to go to Harvard to learn to reason like that.

What I don't understand is, if any and all government spending qualifies as stimulus, shouldn't our economy already be REALLY stimulated?

If At Least This Debacle Were Teaching Us a Valuable Lesson...

But no. The expedient explanation for the political classes is that failures in the capitalist system and greed are to blame for the economic meltdown. This is a great boon for the big government types because it puts them in the driver's seat. But, of course, the collapse is the fault of the government - primarily due to reckless monetary policy (needed to paper over reckless fiscal policy), and massive government interference in the business of making mortgages.

See Stanford professor, John Taylor's analysis:


Government Intervention, Not the Lehman Collapse, Caused the Financial Crisis - WSJ.com

Welcome to the Lost Years

One element of the tragedy of the Stimulus Bill is that it sets us on a course that will extend our economic woes for years to come. The inescapable result of government spending of this magnitude, funded by easy money supply, will be stagflation. The economy and investors, decimated by the collapse in the market, will have little opportunity to recoup their losses as long as we are mired in stagflation. Retirees trying to rebuild their nest egg, couples trying to save for a home, parents saving for college won't have the opportunity to recover financially in time for their retirement, their need for a larger home, or their children's graduation from college.

Of course, the socialists in our midst don't necessarily see this as a bad outcome. In puts big government in the powerful position of doling out retirement pensions, housing, and education. And the more we rely on government for our day-to-day needs, the more freedom we will be willing to cede to it.

Saturday, February 7, 2009

SCARE THE HELL out of the populace with dire predictions that only you can address:

"We have chosen hope over fear." -- Pres. Obama, January 20, 2009

"A failure to act, and act now, will turn crisis into a catastrophe"...
"Our nation will sink deeper into a crisis that, at some point, we may not be able to reverse. " -- Pres Obama, February 5, 2009


http://www.washingtonpost.com/wp-dyn/content/article/2009/02/04/AR2009020403174.html?nav=hcmoduletmv


OMG! An IRREVERSIBLE financial crisis. End of life as we know it. Please, Mr President, save us! No percentage of our GDP is too great, no amount of government meddling in our economy and our lives is too great a price to pay. Tell those irresponsible Republicans in Congress to stop asking irritating question about how you will, specifically, be spending a mere $900B.

The Rise of Hugo Chavez in Venezuela Can Teach Us Alot About Recognizing Creeping Tyranny

How could the people of Venezuela be so stupid as to hand a guy like Hugo Chavez so much power that now he can't be voted out of office?


Did it happen all at once? Of course not. Venezuelans gave up their democratic protections, one by one, in exchange for promised economic benefits and social "equality" that have yet to pan out. In fact, their economy is far worse now, and equality has diminished.

Obama - Not Politics As Usual - Politics As Usual on STEROIDS

He played on our fears! - Al Gore (re: George Bush)

Charles Krauthammer : Crisis, Catastrophe: Are These Words of Hope? - Townhall.com
Our nation's most articulate columnist observes that it only took two and a half weeks for the One We Have Been Waiting For to get down to Politics as Usual.