From the category archives:

Deficit

Here is a short clip from the Right Scoop via Hot Air of House Speaker Nancy Pelosi gloating over the Congressional Budget Office (CBO) scoring of the impact of Obamacare on the deficit and a response from Wisconsin Rep. Paul Ryan on the shell game the Democrats are playing:

Ryan discusses how Medicare cuts and Social Security tax increases are double counted. “…you can manipulate legislation to get the CBO to give you a good-looking number, but that does not manipulate reality and the reality is this bill doesn’t add up. It is massive deficits, massive debt. So the Speaker can write a bill that is full of smoke and mirrors and the CBO can give you the answer you want, but that’s not what happens in the real world.”

IRS 240x300 Obamacare Shell Game: Numbers Dont Add Up; 15,000 New IRS AgentsHowever, Obamacare may be the first actual bill supported by the administration that will create jobs – 15,000 jobs for IRS agents!

They are needed to enforce the mandate for you to buy government-approved health insurance and pay your premiums every month. Congressman Ryan: “Just imagine this, they have to police on a monthly basis whether or not you are doing your job and fulfilling your mandate that the government says you have to buy the health insurance that Katherine Sibelius defines for you, literally. One person will be the regulator of all health insurance in America and Katherine Sibelius will be telling you what you must buy for yourself and the IRS will be policing that.”

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It looks like the House will vote on Obamacare on Sunday. That’s when the House Democrat leadership believes it will have twisted enough arms and paid off enough of their colleagues to have the votes. Will they have a straight up and down vote or will they resort the the Slaughter Rule?

Today, House Democrats defeated 222 – 203 a resolution sponsored by Republicans against the Slaughter Rule.

The Congressional Budget Office (CBO) today released a preliminary estimate of the financial impact of the bill that it admits it pretty much meaningless. Apparently a revised estimate will be released Friday or Saturday. The preliminary estimate projects a 10 year savings that is equal to about 2 weeks of 2010 deficits. Of course, this is all based on the deception of combining ten years of tax increases and Medicare cuts with six years of Obamacare “benefits.”

pelosi 150x150 Critical Obamacare Showdown on Sunday?Democrats have also said that they are just getting started. Nancy Pelosi: “Kick open that door, and there will be other legislation to follow. We’ll take the country in a new direction.” So any projection of the current bill whether we know what’s in it or not is meaningless since it is just the first step toward European-style socialism.

obama 150x150 Critical Obamacare Showdown on Sunday?President Obama has postponed his trip to Indonesia until June presumably so that he can pressure Democrats to support Obamacare with the argument that a “No” vote would ruin his presidency. As Rush Limbaugh has pointed out, this is the behavior of Third World dictators who “destroy their countries to save face or make them look better.”

The public pressure on Democrats who voted against Obamacare in November must continue. Click on “Melt the Phones: President Cancels Trip Because Democrats Don’t have The Votes” to see Hugh Hewitt’s daily list on who to call.

What will happen after the vote? It all depends. If the vote is on the Slaughter Rule and the President signs the Senate bill, it’s constitutionality will be challenged immediately and some states may refuse to recognize it as law. If Senate Democrats try to adopt the House’s “fixes”, Senate Republicans will offer amendments and the process will continue for a while.

The cleanest outcome would be a “No” vote on Sunday. We could sing “Ding Dong, the Witch is Dead” and start the debate on real health care reform.

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Watch Democrat Rep. Tom Perriello of Virginia make a confession. Politicians “have raided the cookie jar… If you don’t tie our hands, we’ll keep on stealing.” Periello argues that the only way to stop politicians is to give them no choice by forcing them to restrict spending, for example, via a balanced budget amendment.

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President Obama has again demonstrated his hypocrisy by doing what he condemned John McCain for suggesting during the 2008 election.

Barack Obama on September 16, 2008:

Just today, Senator McCain offered up the oldest Washington stunt in the book – you pass the buck to a commission to study the problem. But here’s the thing – this isn’t 9/11. We know how we got into this mess. What we need now is leadership that gets us out. I’ll provide it, John McCain won’t, and that’s the choice for the American people in this election.

On February 18, 2010, President Obama appointed a commission to study the problem of federal government debt:

Feb. 18 (Bloomberg) — President Barack Obama signed an executive order creating an 18-member bipartisan panel to suggest steps to reduce the federal government’s record debt and deficits that he said threaten to “hobble our economy.”

Deficits vs. Debt Increases   2009 150x150 Obama Hypocrisy and the Need for Tea Party Patriots to Transform the Republican Partyobama 150x150 Obama Hypocrisy and the Need for Tea Party Patriots to Transform the Republican PartyWhether it is government spending, health care or any other issue, Obama’s “hope and change” continues to be nothing more than ordinary stunts that politicians with a vested interested in a growing government have applied for decades when they want to kick any serious decisions down the road, preferably beyond the next election.

If Obama were serious about reducing the federal deficit and debt, he wouldn’t need a commission that will provide its conclusions more than 9 months from today, on December 1, 2010, conveniently after the November 2010 elections. He could instead reverse his policies that have taken annual deficits from a couple of hundred billions to trillions for the next decade. Of course, as a radical leftist, he cannot bring himself to cut spending, regulations and taxes. Government size and control of American society must grow.

True “hope and change” are coming in the November 2010 elections if Republicans can consistently run on a limited government platform and can win the support and energy of the Tea Party movement. If Republicans falter in their opposition to Obama’s policies and the Tea Party movement splinters into supporting third party candidates, Democrats will win big.

Tea Party patriots have a natural home in the Republican Party. They can bring out the best in Republicans and transform the party to focus on limiting government to its essential functions including a strong defense against Islamofascism and other external threats.

Republican will disappoint at times. It is unfortunate that Scott Brown voted for the $15 billion jobs bill in the Senate. That doesn’t mean we should regret his election which may have resulted in the death of Obamacare. Brown is still on the right side of health care, the stimulus, runaway spending and a strong national defense. A staunch conservative / libertarian couldn’t have been elected in Massachusetts. We got the best we could get in the election of Scott Brown.

Tea Party patriots should study the 1992 presidential election where Ross Perot ran as a third party candidate and helped elect Bill Clinton. Republican saved us from Clinton’s potential excesses two years later when they took over the House of Representatives running on New Gingrich’s Contract for America and Clinton governed as a moderate Democrat for the rest of his presidency.

Obama is not a Bill Clinton who came from a conservative state. The only way to stop him is to win Congressional majorities in 2010 and deny him a second term in 2012.

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A simple illustration of the Obama’s budget freeze lie:

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Tonight you are $45,000 more in debt. For a family of four, your bill is $180,000.

Senate Democrats today voted to raise the debt limit by $1.9 trillion. That’s about $45,000 for every American. It is more debt than the United States incurred from President Washington to President Reagan.

The increase in the debt limit means that Democrats won’t have to vote on raising the debt limit again until after the November 2010 elections.

The vote was 60-40 with all Democrats voting for raising the debt limit and all Republicans voting against it. Interim Senator Paul Kirk from Massachusetts voted. Why is Scott Brown not yet seated in the Senate? Kirk stated on election night last week that his work was done.

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” Political language. . . is designed to make lies sound truthful and murder respectable, and to give an appearance of solidity to pure wind. ” George Orwell

obama 150x150 Obama Spending Freeze is a Bad JokePresident Obama’s newly announced spending freeze will not reduce government spending. Most spending is exempt and the total reduction in spending is a rounding error.

Furthermore, to “freeze” spending is meaningless after the spending increases that Democrats have passed resulting in an increase in the deficit from $161 billion in 2007 to $1.75 trillion in 2009 and a projected $1.17 trillion in 2010.

What the American economy needs is spending cuts accompanied by cuts in tax rates. On the tax side all Obama would have to do is not let the Bush tax cuts expire.

Unfortunately, the President remains ideologically committed to high levels of spending and intervention in the economy. Change will largely not be possible until after the 2010 election.
Deficits vs. Debt Increases   2009 Obama Spending Freeze is a Bad Joke
Source: Wikipedia

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‘Fear the Boom and Bust’

January 26, 2010

hayek 150x150 Fear the Boom and Bustkeynes john maynard 136x150 Fear the Boom and BustThe video “Fear the Boom and Bust – a Hayek vs. Keynes Rap Anthem” presents the ideas of 20th century economists Friedrick Hayek and John Maynard Keynes that are still shaping much of the debate on the current economic crisis and how to deal with it.

The video produced by Econstories.tv has gone viral – over 122,000 views on Youtube just three days after it was published. According to the website, Econstories.tv “is a place to learn about the economic way of thinking through the eyes of creative director John Papola and creative economist Russ Roberts.”

Based on the number of views, Papola and Roberts have found an innovative way of making economic ideas accessible to a wider audience. The video features the following quotes by Keynes and Hayek on the importance of economic ideas:

“The ideas of economists and political philosophers, both when they are right and when they are wrong, are more powerful than is commonly understood. Indeed the world is ruled by little else. Practical men, who believe themselves to be quite exempt from any intellectual influence, are usually the slaves of some defunct economist.”

John Maynard Keynes
The General Theory of Employment, Interest and Money

“The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design.”

F A Hayek
The Fatal Conceit

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While none of us can predict the future and unexpected events are bound to develop, the following stories will be significant in their impact on American freedom, strength and security during 2010. Please continue reading this blog during 2010 if any of these topics are of interest to you.

1. Iran: Nuclear Weapons, Resistance to the Regime and Revolution?

mousavi--124507979745817300Iran will be a pivotal place in the struggle between Jihadism and free societies. During 2010, Iran will likely become a nuclear power led by a president with the declared goal of destroying Israel. The Obama administration is unlikely to use force to stop this dangerous development. Israel may act, but it is not clear whether it will be able to neutralize the threat of a nuclear Iran by itself.

Since the fraudulent presidential election last June, the internal, democratic Iranian resistance has grown despite the regime’s brutal attempt to silence protests through intimidation, jailing of dissidents and outright murder. The opposition leader, Mir Hossein Mosavi, a member of the regime during the 1980s has become a more vocal opponent of the regime after the election and could become Iran’s equivalent to Russia’s Boris Yeltsin who started as a communist and ended up leading the breakup of the Soviet Union and its replacement with 15 nations including a Russia that attempted to achieve democracy.

ayatollah hossein ali montazeri 150x150 2010 Stories That Will Impact American Freedom, Strength and SecurityThe resistance movement has stepped up protests in the last weeks of December after the death Grand Ayatollah Montazeri, once the designated successor to Khomeini, the founder of the Iranian Islamic Republic and, more recently, the leading religious leader opposing the regime. Earlier this week, the Iranian dictators killed a nephew of Mousavi, further escalating tension.

Revolutions are hard to predict, but there is at least the possibility that the Iranian resistance could overthrow the 30-year-old repressive regime before fanatics who believe in provoking an apocalypse to hasten the arrival of the “hidden Iman” gain nuclear weapons.

2. Economic Recovery: Long-Term Prospects, Fear of Inflation and the Impact of Unsustainable Government Debt

obama 150x150 2010 Stories That Will Impact American Freedom, Strength and Securityr228531 909709 150x150 2010 Stories That Will Impact American Freedom, Strength and SecurityThe US economy appears to be headed toward a recovery despite unprecedented, heavy-handed control exerted by the Obama administration over more and more areas of economic activity.

Can the recovery be sustained despite new and continued threats of more government control and record taxation and spending? Will inflation become a serious issue given the lose money policies of the Federal Reserve under Time’s Person of the Year Ben Bernanke?

Will the private economy again be able to generate jobs for the tens of millions of Americans that lost their jobs during the recession?

The short-term news may be positive, but dark clouds hang over this recovery.

3. Security and Terrorism: Will Washington Get Serious Again Before It Is Too Late?

war on terror poster 224x300 2010 Stories That Will Impact American Freedom, Strength and SecurityThe Jihadist terrorist attacks at Ft. Hood and on a plane landing in Detroit on Christmas Day have shown how utterly clueless Obama and his advisors are. They treat these acts as isolated criminal incidents despite clear evidence that they are part of a continued international Jihadist movement.

Will they see the light and let us move on from recognizing the obvious to seriously thinking about how a free society can survive given that technology today can give a handful of fanatics unprecedented power to cause mass murder and wholesale destruction?

In addition to “traditional” attacks using guns and explosives, chemical, biological and nuclear threats remain real and become more likely each year. Even more frightening scenarios that could be perpetrated by rogue regimes with a few nuclear weapons include an electromagnetic pulse attack on the US.

4. Continued Growth in Opposition to Obamaism and the November 2010 Election

dc tea party sept 12 2009 mega 01 300x225 2010 Stories That Will Impact American Freedom, Strength and SecurityThe Tea Party movement started early in 2009 in opposition to unprecedented spending in Washington and all the initiatives to control more of the American economy. The likely passage of Obamacare practically guarantees, that Democrats will sustain heavy losses in the November 2010 Congressional elections.

Will Republican leaders become more effective in explaining these issues and presenting the alternatives or will the Tea Party movement end up supporting third party candidates that will inevitably divide the opposition to Obama?

5. The Final Shape of Obamacare and Its Impact on Cost of and Access to Health Care

obamacare 235x300 2010 Stories That Will Impact American Freedom, Strength and SecurityWhile it is hard to see how passage of some form of Obamacare can be avoided, Democrats are sharply divided on issues like the public option and taxpayer funding of abortions. The left wing of the party opposes current legislation that has provisions required to keep the support of more “moderate” Democrats. Will this coalition between Democratic factions hold and how bad will the final legislation be?

6. The Global War on Terror: Iraq, Afghanistan and New Fronts

us military collage zus6 300x258 2010 Stories That Will Impact American Freedom, Strength and SecurityThe US involvement in Iraq is winding down. Will the Iraqi government be able to avoid a return to the violence of a couple of years ago?

In Afghanistan, Obama is supporting a moderate surge in US forces. Will this be enough to drive back the Taliban and al-Qaeda or will they just hunker down until the withdrawal of US forces starting in 2011 that Obama has already announced?

Finally, the Christmas Day underwear bomber has started drawing attention to the fact that there are other centers of Jihadist terrorism like Yemen. Will there be an attack originating in Yemen or another center of Islamic fanatics that will force the administration to act?

7. Global Warming Alarmism After Climategate and Copenhagen

Al GoreThe changes for drastic imposition of new regulations controlling carbon-based energy has fizzled after the Climategate scandal and the failed Copenhagen summit.

France’s supreme court struck down a new law on carbon emission just this week.

The chances of major cap and tax legislation passing the Senate are practically nil.

Despite these positive developments, the left has invested heavily in the global warming hysteria as a new way to impose national and international controls on human freedom. Stories about impending doom due to supposedly man-made global warming won’t go away in 2010. Expect more fear-based emotional appeals and other attempts to revive the global warming movement.

Just based on what we know about these stories, 2010 is bound to be an interesting year.

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Obama’s New Slush Fund

December 6, 2009

GR2009101700169.jpg 194x300 Obamas New Slush FundIs President Obama really serious about tackling the federal deficit and the national debt as he has recently stated? His plans for what to do with unspent and repaid TARP money show that he and his allies in Congress are unable to resist spending any funds that they get their hands on.

When Congress passed the $700 billion Troubled Asset Relief Program (TARP) last year to rescue banks and other financial institutions from potential collapse we were told that the true cost to American taxpayers would be much less since the recipients would pay back the money as they return to financial health.

So far $71 billion have been repaid This does not include $45 billion that Bank of America has announced last week it will repay. Another $226.5 billion of TARP money has never been spent.

So including the Bank of America repayment, almost half the TARP funds are available to reduce the debt we incurred last year.

stimulus vs unemployment october dots Obamas New Slush FundThat is not what the Obama administration and Nancy Pelosi’s Congressional Democrats plan to do. They now advocate spending $100 billion or more on a job creation package.

Unemployment is certainly a serious problem for the millions of Americans who have lost their jobs during this recession.

However, Obama’s $800 billion stimulus program has demonstrated the futility of the federal government spending money to “create jobs.” The Obama administration’s claims on the number of jobs “created or saved” have been shown to be fraudulent. The government web site that reports on jobs “created or saved” by Congressional district reported jobs in Congressional districts that don’t exist and double-counted numerous jobs. Measuring “jobs saved” has been a meaningless statistic.

What the American economy needs for private enterprise to create jobs is a return to fiscal responsibility, lower taxes and an end to the uncertainty created by the numerous activities to expand government and union power that are being pursued by our hyperactive government.

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