by George Landrith
With a long history of federal overspending and the recent explosion of more federal debt, it is obvious that the federal budget must be cut back to a reasonable size. We need an intervention. But the Budget Control Act — which would force an “automatic sequester” of $500 billion in across-the-board defense spending cuts over the next decade, in addition to the $487 billion in defense cuts already scheduled — is not a good solution to our spending crisis. Read more
“After the phony cliff, we face the terrifying one.”
by Conrad Black
Last week, Fareed Zakaria and Charles Krauthammer appeared in Toronto (where I live much of the time), and while I did not go to their main debate, I went to a tasting of it at a luncheon. There was, I regret to write, as a longstanding friend of both of them, a surreal aspect to the exchange. After the usual compliments one exchanges (as I know from my time on that circuit), they embarked on a dialogue of the deaf, and a mutual flight, joined at the wingtip like Jurassic pterodactyls, soaring above the mighty chasm of American fiscal problems below. The otherworldly discussion of whether the Republican leaders in Congress will reach an agreement with the president about the automatic expiration of the Bush tax cuts of a decade ago vastly overshadowed the issue of reinserting spontaneous growth into the U.S. economy and grappling with the deficit at last. Read more
by George Landrith
With the budget and fiscal crisis facing the United States and difficult economic times surely ahead for the foreseeable future, President Barack Obama has vociferously argued that Republicans must agree to tax increases. He argues for what he terms are modest tax increases on the wealthiest Americans that are equal to the tax rates during President Bill Clinton’s time in office. Why is Obama only interested in Clinton era tax rates, but not Clinton era federal spending rates?
There is one correction that must be made from the outset — despite Obama arguing that he wants to return to Clinton era tax rates, Obama’s tax proposal is actually substantially higher than the Clinton era tax rates. Read more
by George Landrith
President Barack Obama repeatedly chided Mitt Romney’s budget plan during the presidential campaign on at least two grounds: (1) it lacked detail, and (2) the math didn’t add up. Perhaps, we should use these two standards to see how Barack Obama’s plan stacks up. There is more than a little irony in Barack Obama criticizing others for not providing details or for their math not adding up. Obama has always been short on details and his math has almost never passed even the straight face test, much less actually adding up. Read more
“The ability of the American people to watch the ['Fiscal Cliff'] sausage made and [to] read the contract before signing is a better guardian of our future than the hurried endorsements of the Washington establishment based on private assurances of politicians.”
by Grover Norquist
On January 1, 2013 three things happen:
First, the 2001 and 2003 tax cuts lapse along with a number of temporary tax reductions that have been extended so many times they are collectively known as “the extenders.” (Note to self: possible name for female rock band.) This collection of tax hikes total $500 billion in 2013. The $1,000 per child tax credit drops to $500. The Obama Social Security tax holiday ends again. The bottom tax rate jumps from 10 percent to 15 percent and the top personal income tax rate jumps from 35 to 39.6 percent — plus Obamacare’s new 3.8 percent surtax: total for top rate 43.4%. (Do be sure to add 10.3 percent for the state income tax if you live in California, 5.75 percent in Maryland or 8.82 percent in New York.) Read more
by George Landrith
Barack Obama is nearing the fourth year of his presidency and the economy continues to languish as evidenced by the fact that the unemployment rate “unexpectedly” shot back up and has been above 8 percent for his entire presidency. The truth is there is nothing “unexpected” about our current economic woes. In fact, for those who understand the fundamentals of economics, the current high unemployment rates are both predictable and expected. The truth is – Obama’s policies and his politics could not have produced economic recovery any more than dirt and water can produce a tasty three-layer cake. Read more
America’s national debt is dangerously close to $16 trillion. This is a staggering figure. It is impossible to comprehend in concrete terms. But we are rapidly approaching the point of no return, where economic collapse becomes our fate — just like Greece. This is not a new problem. But it has gotten far, far worse as a result of President Barack Obama’s unrestrained spending. He’s thrown hundreds of billions of taxpayer dollars to unions and other political allies in the name of stimulus. Not surprisingly, the money didn’t generate job growth and now we have a staggering debt which makes job growth even more difficult. This is Obama’s economic legacy.
The “Super Committee” technically known as the Joint Select Committee on Deficit Reduction, is a committee of 12 bipartisan members of Congress tasked with slashing the outrageous budget deficit by approximately $1.5 trillion and creating a positive environment for job growth. The problem is that they were not able to make the cuts. Read more
Op-Ed from Boston Herald 9/20/11
President Obama is ignoring the first rule of holes — when you’re in one, stop digging.
But no, after putting forth a $447 billion so-called jobs plan (which was really just a jobs plan for public employees and construction workers), he has now doubled down on tax hikes as his way of not only paying for that plan, but tackling the deficit it would increase.
So yesterday he unveiled a $1.5 trillion tax hike as the way of tackling $3 trillion of the deficit over the next 10 years. It came with the usual Obama it’s-my-way-or-the-highway threats. Read more
Young unborn tigers being killed in their mother’s womb is not accepted in our society. What about killing young unborn golden retrievers? If large enough, the baby retrievers would have to be removed piece by piece, or if almost full term, would have to be wholly removed and left to die outside of the womb somewhere. Read more
Why isn’t the Republican Party winning?
If you were to believe Tea Party Nation founder Judson Phillips argument, it is John Boehner’s fault.
“Charlie Sheen still makes more sense than John Boehner because at least Charlie Sheen is winning.”
While his analogy may lack some merit about Boehner, the Republican Party has certainly not drank enough tiger blood to make any headway in Washington.
Coming off a historical victory in November, the GOP has failed the communications war to keep the party, and country, energized. Besides repealing Obamacare, the Republicans only accomplishment has been to cut a few billion from the budget.
Are they afraid to win?