Quick..... what comes to your mind when you hear the names Hoover, FDR, G.W. Bush, and Obama?
Let me help...failed Republican presidencies followed by truly disastrous Democrat presidencies.
So, here is my quick take on the parallels between the Hoover - FDR era and the Bush - Obama era in a nut shell.
Hoover believed in the Efficiency Movement, which held that government and the economy were riddled with inefficiency and waste, and could be improved by experts who could identify the problems and solve them (being an engineer by training - and not much of a political philosopher, I guess you couldn't have faulted him much for that). When the Wall Street crash of 1929 struck less than eight months after he took office, Hoover tried to combat the ensuing Great Depression with volunteer efforts, public works projects such as the Hoover Dam, tariffs such as the Smoot-Hawley Tariff, and raising the top tax bracket from 25% to 63%, none of which unsurprisingly produced economic recovery during his term. In sum, he was a protectionist and a proponent of government intervention unlike some of his predecessors (Coolidge and Harding) or what I would call an establishment Republican these days.
Hoover's failure to spur the economy on, especially coming at the tail end of the roaring 20's, paved the way for FDR and a long reign of Democrat congressional control. Republicans were trounced in congressional races as well as the presidential election.
FDR, an avowed Socialist, made the most of the crisis he inherited. He doubled down on Hoover's misguided policies while instituting the New Deal. It was during this period that America started its journey towards collectivism in earnest. Along with Social Security, the single worst damage inflicted by FDR was his stacking of the SCOTUS by progressive justices. By 1935, he was a true dictator, one might say. I documented some of his more outrageous actions here. In my estimation, he was the single worst president America had - that is until now.
G.W. Bush took over an economy that was weakening, but neverthless fundamentally sound in relative terms. The Gingrich congress had Bill Clinton curb his earlier progressive instincts and the era of small government was on. Then came the dot com bubble caused mild recession of early 2001 and the eventual 9/11 attacks. I believe that is when any remote adherence G.W.B. had to free markets flew out the window. To begin with, the Bush family was never known to be truly conservative devotees of free markets going all the way back to G. H. Bush's frictions with Reagan in 1980 and earlier. Bushes were, and still are, establishment Republicans who believe in big, compassionate government. As such, when things looked bleak in the early days of post 9/11 era, G.W.B. sacrificed everything that Clinton/Gingrich had accomplished as far as containing the federal leviathan. Combined with the cost of war on two fronts, federal government once again became its pre-1996 monstrosity. Over the next six years, we witnessed new entitlements like Medicare Part-D and the expanded SCHIP program - all as part of so-called compassionate conservatism. Finally in 2007, when the great recession started, G.W.B. showed his real face to the world when he declared "I had to sacrifice free market principles to save the free market system". If that statement alone didn't prove that he was never a constitutional, small government, free market adherent type of president, I do not know what would. Can you say Hoover light?
President Obama easily enough won the 2008 election because his opponent was nothing but a war decorated version of G.W.B. He, like FDR did, doubled down - make that quadrupled down - on G.W.B. policies of spending on entitlements. This is not meant to criticize him for all his actions (because that would take a few volumes of a book) but, in a nut shell, Obama through his radical cabinet and other appointments who would make FDR appointments blush, proved that we succeeded in electing our first Marxist (though a closet one) president. Ever since his election, rogue government agencies have been regulating and otherwise poisoning the business environment. This blog has catalogued many of his outrageous action. Consequently, as with FDR who couldn't pull the country out of the Depression until WWII did it for him 12 years after the start of the Great Depression, under Obama we have yet to see things improve in any meaningful way. The worst part of the story, however, will be the lasting effects of his legacy. As with Social Security under FDR, Medicare under LBJ, Medicare Part-D under Bush, among other entitlements, Obamacare and many of his Administration's damaging regulations will probably never be undone.
Thus is the scary and uncanny parallels between two critical eras in our history, with two sets of presidents where the Republican predecessor's lack of classically conservative conviction and vision led to two hard line progressive who exploited the opportunity to fundamentally alter our nation.
----
Of course, this is not to say that these four are the only failed presidencies in the modern era - which I describe as beginning of 20th century on. One must not forget an array of Republican (T. Roosevelt, Taft, Hoover, Nixon, Ford, and G. H. Bush (Sr.)) and Democrat (Wilson, FDR, LBJ, and Carter) presidents who left their damaging marks on this country of ours. However, this group did not amplify their predecessor's damaging policies by disastrous ones of their own. They mostly were instrumental in further expanding the government's reach in to our daily lives - bad but not disastrous as I said. All that being said, I am not minimizing the critical roles of two early presidents - Wilson and T. Roosevelt to a lesser degree - in fundamentally changing the course of this nation with their policies from one of a Jeffersonian vision to one that would eventually resemble 19th century Fabian Socialism of Europe.
My favorites since 1900? If I had to list them in order of preference:
1. Coolidge
2. Reagan
3. Harding
All for their dedication to free market principles and constitutional government as our founders intended.
Wednesday, August 31, 2011
Friday, August 26, 2011
U.K.: The Manifestation of Progressive Policies
Two weeks ago, crowds of mostly youthful offenders looted and burned private property all around the U.K. Listening to their words was enough to make their mindset crystal clear to outside observers. One such sentiment uttered by a looter was: "Nobody is doing nothing for us — not the politicians, not the cops, no one."
What is behind such disenfranchisement by minorities and whites alike? The U.K. as a western European democracy provides the tools and the opportunity necessary for these protesters to lead fruitful lives, one might think. But is that enough? Apparently not.
No. What we have been witnessing in the U.K., Greece, France, and elsewhere in the European social democracies is the failure of a social experiment gone awfully wrong. It is the failure of the welfare state which slowly but surely kills the human spirit. It is the expected manifestation of progressive policies that gradually replaces productive members of the society with leaches who are encouraged by the state to live off the backs of those who have not yet lost their humanity. It is the fruition of irresponsible immigration policies that let anyone in but do not require them to assimilate in to their host culture.
The shameful tragedy that was recently played out in the U.K. and elsewhere in Europe should be a warning to the U.S. The entitlement societies of Europe, created by the extensive welfare states built on foundations of Marxism, are not that far off from where we stand here in America.
What is behind such disenfranchisement by minorities and whites alike? The U.K. as a western European democracy provides the tools and the opportunity necessary for these protesters to lead fruitful lives, one might think. But is that enough? Apparently not.
No. What we have been witnessing in the U.K., Greece, France, and elsewhere in the European social democracies is the failure of a social experiment gone awfully wrong. It is the failure of the welfare state which slowly but surely kills the human spirit. It is the expected manifestation of progressive policies that gradually replaces productive members of the society with leaches who are encouraged by the state to live off the backs of those who have not yet lost their humanity. It is the fruition of irresponsible immigration policies that let anyone in but do not require them to assimilate in to their host culture.
The shameful tragedy that was recently played out in the U.K. and elsewhere in Europe should be a warning to the U.S. The entitlement societies of Europe, created by the extensive welfare states built on foundations of Marxism, are not that far off from where we stand here in America.
Tuesday, August 23, 2011
Along With Perry, Here Comes the Race Card
Team Obama is leaving nothing to chance. When a politician has virtually no success to point to, he can do one of two things: take the honorable route and not run for office again, or attack his opposition in the most vile ways imaginable. Since Obama and his minions practically wrote the book on putting Alinskyite techniques to practice, the choice for the President is crystal clear.
The on-and-off race card has been revived ever since Rick Perry entered the race. What better opportunity than when your potential opponent is southern, white, Christian, and a conservative? It is a marriage made in heaven if you are an Alinsky loving progressive; and this bunch most certainly is!
The stooges of the Administration in media like Ed Schultz and Chris Matthews, who are like cheap booty calls waiting by their phones to please their sugar daddies, would normally be the smart choice for leading the attack but this bunch is not even that smart. Although we have already heard baseless charges from liberal punditry (see Schultz' selective editing of Perry's "black cloud" remarks, and Matthews' disparaging portrayal of Perry's defense of Federalism), quite a few Democrat politicians like Maxine Waters and Charlie Rangel have not been able to resist the urge to paint likes of Rick Perry and the Tea Party with the broad brush of racism themselves.
It is all part and parcel of being a progressive. When your intellectual capabilities cannot rise above that of a ten-year old, you must adhere to Alinskyite tactics to win over sheeple with the attention span of five year olds. And it is a little ironic coming from the side of the ideology (and political party) that practically invented and advanced slavery and racism throughout their existence.
It was not the Republican party (or is not the conservative ideology) that fought for slavery tooth and nail. It was not the Republicans who started the KKK and every other racist organization. It was not the conservatives who protested and resisted civil rights for minorities. It was not the Republicans who voted against civil rights legislation in droves, which had to pass with their votes. And more importantly, it is not the conservative ideology that keeps slavery of human soul alive today, as I cannot describe followers of an ideology that robs individuals of their initiative and individualism as being anything other than modern day slave masters.
Democrats and self described progressives... take a good look at your selves in the mirror! The image that you see is what an intellectually dishonest racist looks like.
The on-and-off race card has been revived ever since Rick Perry entered the race. What better opportunity than when your potential opponent is southern, white, Christian, and a conservative? It is a marriage made in heaven if you are an Alinsky loving progressive; and this bunch most certainly is!
The stooges of the Administration in media like Ed Schultz and Chris Matthews, who are like cheap booty calls waiting by their phones to please their sugar daddies, would normally be the smart choice for leading the attack but this bunch is not even that smart. Although we have already heard baseless charges from liberal punditry (see Schultz' selective editing of Perry's "black cloud" remarks, and Matthews' disparaging portrayal of Perry's defense of Federalism), quite a few Democrat politicians like Maxine Waters and Charlie Rangel have not been able to resist the urge to paint likes of Rick Perry and the Tea Party with the broad brush of racism themselves.
It is all part and parcel of being a progressive. When your intellectual capabilities cannot rise above that of a ten-year old, you must adhere to Alinskyite tactics to win over sheeple with the attention span of five year olds. And it is a little ironic coming from the side of the ideology (and political party) that practically invented and advanced slavery and racism throughout their existence.
It was not the Republican party (or is not the conservative ideology) that fought for slavery tooth and nail. It was not the Republicans who started the KKK and every other racist organization. It was not the conservatives who protested and resisted civil rights for minorities. It was not the Republicans who voted against civil rights legislation in droves, which had to pass with their votes. And more importantly, it is not the conservative ideology that keeps slavery of human soul alive today, as I cannot describe followers of an ideology that robs individuals of their initiative and individualism as being anything other than modern day slave masters.
Democrats and self described progressives... take a good look at your selves in the mirror! The image that you see is what an intellectually dishonest racist looks like.
Saturday, August 20, 2011
Just Another Typical Week in Obama's Amerika
What makes conservative bloggers' job difficult in Obama's America is the sheer volume of newsworthy (though mostly unreported by the whorish media) events. This past week was no different, so here we go.
The highlight (or lowlight if you prefer) of the week was the announcement on Thursday by the White House that backdoor amnesty we have been speculating about is officially here. After the Obama administration was informed on Tuesday that major latino groups were unhappy with his inaction and further learned that the president has bled nearly 40% of his Hispanic support (coupled with his new low approval of 39% according to Gallup), Homeland Security (Secretary Janet Napolitano) announced unless you are a criminal, you have not only nothing to fear and the Administration will even go out of its way to secure work visas for you. Of course, not that entering the country illegally is a crime or anything like that!
What makes this action doubly outrageous is that U.S. Congress voted down the Dream Act that would have provided just such amnesty. In other words, to heck with the Constitution, we have ourselves a third world dictator in the White House.
A close second in the outrageous news department was another executive order signed on Thursday. With the stroke of a pen, our benevolent dictator ordered 'diversification' of the federal workforce - you know, the one of which 34% is comprised of minorities and 44% women! Welcome back affirmative action! I guess in these days of LGBT sensitivity training in the military and the CIA, nothing should surprise us!
Again on Thursday, we found out that the first family arrived at their $40,000 a week vacation rental at ultra liberal Matha's Vineyard on two separate planes within three hours of each other. No surprise here: shared sacrifice during this time of high unemployment, rising inflation, dropping stock market, trillion dollar deficits, etc... is for common folks only. The king must do as he wishes.
Just as you thought nothing else could have happened on Thursday, voila - a new not-so-shocking revelation! Judicial Watch released their findings from their FOIA request of HHS documents that Secretary Sebelius' gang was instrumental in violating the Hatch Act last November when the department spent over one million taxpayer dollars promoting Obamacare in coordination with the 2010 mid-term elections. Surely a would be scandal for anyone else other than this bunch of gangsters in D.C.! It is amazing what you can get away with when the media whores are propping you up.
Then, we had our esteemed Secretary of Agriculture come out and declare that 44 million Americans on food stamps is really a good thing because - get this - it creates jobs. The progressive mindset is an amazingly confounding thing to watch! He is just the latest progressive whiz kid to spew this kind of nonsense, following in the footsteps of Mrs. Pelosi, Mr. Reed, and of course, the President himself.
As Jeannie DeAngelis puts it succinctly: Barack Obama’s detractors are wrong about him being clueless on the issue of jobs and the economy. The President does have a plan. The Obama administration is doing all they can to get as many people as possible on economy-stimulating government-funded entitlement programs like AFDC, housing assistance, school lunch programs, low-income energy aid, and of course unemployment insurance and food stamps, all of which promise to have the US economy and job market booming in no time.
Talking about progressive policies creating jobs, we cannot forget that fountain of scientific knowledge (sarcastically speaking of course) Rep. Ed Markey (Jackass - Mass) who took the opportunity to criticize Governor Rick Perry for saying that EPA regulations are job killers. Esteemed jackass congressman from Massachusetts claims that independent (ehem...) studies clearly show environmental regulations create new jobs. Yeah Ed, go tell that to the coal miners and oil rig workers being put out of work as we speak. The so-called green jobs bonanza is a pie-in-the-sky as well as a scheme to enrich green crony capitalist allies of the Democrat party.
On the crazed Marxist front, we must not forget esteemed jackass, Congressman Frank Lautenberg of N.J. who was heard saying that "we've got to eliminate the rich.." If I had a dollar for every such rhetoric I've heard from Democrats, I'd be retired by now. Maybe one day soon I'll make a montage of their sound bites from my video vault.
For those of you who missed it, Homeland Security also put out their new video for purposes of encouraging people to report suspicious activity. Who portrayed the terrorists in this PSA? You guessed it: well dressed white people. Political correctness gone awry or something else? You decide (just remember that two years ago, it was the same outfit that put out the warning that soldiers coming back from Iraq could pose danger to the U.S.)
On the international front, this week we threw two old and valuable allies under the Obama bus: Israel and Taiwan.
First, the U.S. threatened that unless Israel apologizes to Turkey (I guess for defending themselves during the boarding of Mavi Marmara) for loss of life, Israel would find herself isolated at the U.N.
Second, and even more outrageously, V.P. Biden told the Chinese the United States fully recognizes that issues related to Taiwan and Tibet are part of China’s core interests. He said the U.S. will firmly adhere to the one-China policy and will not support “Taiwan independence.” He added the U.S. fully acknowledges that Tibet is an inalienable part of the People’s Republic of China.
With a friend like this, who needs enemies?
This was just scratching the surface as far as outrageous news goes but I needed to point out at least the most egregious ones.
So, the tyranny continues...
P.S. I am still awaiting Obama and his Democrat clan's apology to Rep. Joe Wilson. He and many of us knew all too well that Obamacare would cover illegal aliens, as we were proven right just over a week ago. Yes Mr. President, YOU LIE!
The highlight (or lowlight if you prefer) of the week was the announcement on Thursday by the White House that backdoor amnesty we have been speculating about is officially here. After the Obama administration was informed on Tuesday that major latino groups were unhappy with his inaction and further learned that the president has bled nearly 40% of his Hispanic support (coupled with his new low approval of 39% according to Gallup), Homeland Security (Secretary Janet Napolitano) announced unless you are a criminal, you have not only nothing to fear and the Administration will even go out of its way to secure work visas for you. Of course, not that entering the country illegally is a crime or anything like that!
What makes this action doubly outrageous is that U.S. Congress voted down the Dream Act that would have provided just such amnesty. In other words, to heck with the Constitution, we have ourselves a third world dictator in the White House.
A close second in the outrageous news department was another executive order signed on Thursday. With the stroke of a pen, our benevolent dictator ordered 'diversification' of the federal workforce - you know, the one of which 34% is comprised of minorities and 44% women! Welcome back affirmative action! I guess in these days of LGBT sensitivity training in the military and the CIA, nothing should surprise us!
Again on Thursday, we found out that the first family arrived at their $40,000 a week vacation rental at ultra liberal Matha's Vineyard on two separate planes within three hours of each other. No surprise here: shared sacrifice during this time of high unemployment, rising inflation, dropping stock market, trillion dollar deficits, etc... is for common folks only. The king must do as he wishes.
Just as you thought nothing else could have happened on Thursday, voila - a new not-so-shocking revelation! Judicial Watch released their findings from their FOIA request of HHS documents that Secretary Sebelius' gang was instrumental in violating the Hatch Act last November when the department spent over one million taxpayer dollars promoting Obamacare in coordination with the 2010 mid-term elections. Surely a would be scandal for anyone else other than this bunch of gangsters in D.C.! It is amazing what you can get away with when the media whores are propping you up.
Then, we had our esteemed Secretary of Agriculture come out and declare that 44 million Americans on food stamps is really a good thing because - get this - it creates jobs. The progressive mindset is an amazingly confounding thing to watch! He is just the latest progressive whiz kid to spew this kind of nonsense, following in the footsteps of Mrs. Pelosi, Mr. Reed, and of course, the President himself.
As Jeannie DeAngelis puts it succinctly: Barack Obama’s detractors are wrong about him being clueless on the issue of jobs and the economy. The President does have a plan. The Obama administration is doing all they can to get as many people as possible on economy-stimulating government-funded entitlement programs like AFDC, housing assistance, school lunch programs, low-income energy aid, and of course unemployment insurance and food stamps, all of which promise to have the US economy and job market booming in no time.
Talking about progressive policies creating jobs, we cannot forget that fountain of scientific knowledge (sarcastically speaking of course) Rep. Ed Markey (Jackass - Mass) who took the opportunity to criticize Governor Rick Perry for saying that EPA regulations are job killers. Esteemed jackass congressman from Massachusetts claims that independent (ehem...) studies clearly show environmental regulations create new jobs. Yeah Ed, go tell that to the coal miners and oil rig workers being put out of work as we speak. The so-called green jobs bonanza is a pie-in-the-sky as well as a scheme to enrich green crony capitalist allies of the Democrat party.
On the crazed Marxist front, we must not forget esteemed jackass, Congressman Frank Lautenberg of N.J. who was heard saying that "we've got to eliminate the rich.." If I had a dollar for every such rhetoric I've heard from Democrats, I'd be retired by now. Maybe one day soon I'll make a montage of their sound bites from my video vault.
For those of you who missed it, Homeland Security also put out their new video for purposes of encouraging people to report suspicious activity. Who portrayed the terrorists in this PSA? You guessed it: well dressed white people. Political correctness gone awry or something else? You decide (just remember that two years ago, it was the same outfit that put out the warning that soldiers coming back from Iraq could pose danger to the U.S.)
On the international front, this week we threw two old and valuable allies under the Obama bus: Israel and Taiwan.
First, the U.S. threatened that unless Israel apologizes to Turkey (I guess for defending themselves during the boarding of Mavi Marmara) for loss of life, Israel would find herself isolated at the U.N.
Second, and even more outrageously, V.P. Biden told the Chinese the United States fully recognizes that issues related to Taiwan and Tibet are part of China’s core interests. He said the U.S. will firmly adhere to the one-China policy and will not support “Taiwan independence.” He added the U.S. fully acknowledges that Tibet is an inalienable part of the People’s Republic of China.
With a friend like this, who needs enemies?
This was just scratching the surface as far as outrageous news goes but I needed to point out at least the most egregious ones.
So, the tyranny continues...
P.S. I am still awaiting Obama and his Democrat clan's apology to Rep. Joe Wilson. He and many of us knew all too well that Obamacare would cover illegal aliens, as we were proven right just over a week ago. Yes Mr. President, YOU LIE!
Wednesday, August 17, 2011
Obama on Individual Mandate: Then and Now
Then:
“Both of us want to provide health care to all Americans. There’s a slight difference, and her [Hillary Clinton]plan is a good one. But, she mandates that everybody buy health care. She’d have the government force every individual to buy insurance and I don’t have such a mandate because I don’t think the problem is that people don’t want health insurance, it’s that they can’t afford it. So, I focus more on lowering costs. This is a modest difference. But, it’s one that she’s tried to elevate, arguing that because I don’t force people to buy health care that I’m not insuring everybody. Well, if things were that easy, I could mandate everybody to buy a house, and that would solve the problem of homelessness. It doesn’t."
February 28, 2008
Now:
"...you should get health insurance just like you get car insurance. This should not be controversial but it has become controversial partly because of people’s view..."
August 14, 2011
Never mind the fact that comparing auto insurance mandate to health insurance mandate is like comparing apples to oranges!
This wolf does not even pretend to be in sheep's clothing anymore ...Just because the "fundamental transformation" of America must go on...
“Both of us want to provide health care to all Americans. There’s a slight difference, and her [Hillary Clinton]plan is a good one. But, she mandates that everybody buy health care. She’d have the government force every individual to buy insurance and I don’t have such a mandate because I don’t think the problem is that people don’t want health insurance, it’s that they can’t afford it. So, I focus more on lowering costs. This is a modest difference. But, it’s one that she’s tried to elevate, arguing that because I don’t force people to buy health care that I’m not insuring everybody. Well, if things were that easy, I could mandate everybody to buy a house, and that would solve the problem of homelessness. It doesn’t."
February 28, 2008
Now:
"...you should get health insurance just like you get car insurance. This should not be controversial but it has become controversial partly because of people’s view..."
August 14, 2011
Never mind the fact that comparing auto insurance mandate to health insurance mandate is like comparing apples to oranges!
This wolf does not even pretend to be in sheep's clothing anymore ...Just because the "fundamental transformation" of America must go on...
Tuesday, August 16, 2011
Back From Vacation...
...And a refreshing one it was! My (and my family) three day cruise to the Bahamas made me feel like I was back in the 1980s (and earlier) when you could smoke in bars, casinos, and many other areas where you normally cannot anymore. The staff on Majesty of the Seas were very friendly, food and entertainment great, and weather couldn't have been much better. To top it all off, won some decent money in Bingo as well as the poker table - enough to put a big smile on my face! I am also glad that Rick finally decided to join the race during my absence from the country. But all good things must come to an end; so time to pile on the progressive traitors.
Wednesday, August 10, 2011
The Hypocrisy of Blaming the Downgrade on a $2 Trillion Mistake
Following on the footsteps of his boss Obama and the rest of the progressive cabal, Tim Geithner told NBC News of S&P’s “stunning lack of knowledge about basic U.S. fiscal budget math.” Now, this wouldn't be funny if it came from anyone other than the incompetent fools of this administration, but considering the source (someone who has obvious difficulty using Turbo Tax if one accepts the premise that he is not a tax cheat), one cannot help but have a good belly laughter.
What is outrageously hypocritical about the whole affair, however, is that this same Administration admitted to a similar $2 trillion mistake in their ten year deficit projections back in August of 2009 after ripping the CBO for miscalculating (what you and I know to be mythical) savings.
And how good is CBO's track record, you might ask? We all know the myriad of under estimations from cost of entitlements like Medicare and Medicaid to other government programs. More recently, in 2001, CBO estimated that by 2011, U.S. indebtedness would be negative by nearly $2.5 trillion. Go figure.
As Zero Hedge put it:
The U.S. is in deep trouble with its current $14.5 trillion federal debt and well over $100 trillion in unfunded social security and Medicare liabilities (which does not take in to account of the burden to be imposed by Medicare Part D and Obamacare!). Whether one looks at the total indebtedness of the U.S. government in 2021 as $24 trillion or $22 trillion, the picture does not change appreciably. If the U.S. was a household, you could not find a single financial institution that would be willing to lend it money - not with a current income of $2.2 trillion against expenditures of $3.7 trillion that are projected to increase several fold over the coming years. Default or chaos is imminent. Despite former Fed Chairman Greenspan's claims that we can always print money, the end game is disastrous to the citizens of this country. Here are some basic facts:
Real leadership would entail the President and the Congress making the tough decisions that are inescapable: reforming the entitlements. Until that happens, the U.S. can look forward to more downgrades and progressively increasing pain that is associated with fiscal irresponsibility.
What is outrageously hypocritical about the whole affair, however, is that this same Administration admitted to a similar $2 trillion mistake in their ten year deficit projections back in August of 2009 after ripping the CBO for miscalculating (what you and I know to be mythical) savings.
And how good is CBO's track record, you might ask? We all know the myriad of under estimations from cost of entitlements like Medicare and Medicaid to other government programs. More recently, in 2001, CBO estimated that by 2011, U.S. indebtedness would be negative by nearly $2.5 trillion. Go figure.
As Zero Hedge put it:
While we reserve judgment for S&P's effectiveness at being accurate in anything they do (they are, after all a rating agency and as such they goal seek results to comply with what their paying group think seeking customers demand), we would like to redirect to the modest topic of CBO predictive efficiency (the organization that is at the basis of the current credibility spat between Treasury and S&P, and which, incidentally has created the baseline forecast against which the debt ceiling compromise plan is supposed to cut $2.1 trillion over the next decade), by pointing out according to the same CBO back in 2001, net US indebtedness in 2011 would be negative $2.436 trillion, the ratio of debt held by the public to GDP would be 4.8%, total budget surplus would be $889 billion, and GDP would be $16.9 trillion. We won't comment on the error interval in CBO forecasts when compared to actual 2011 results, and we most certainly won't comment on the idiocy of the Treasury chastising someone, anyone, for erring, or disputing, forecasts.The $2 trillion math error that S&P supposedly made is a mere technicality. With or without that error, it was a matter of months before S&P reached the same conclusion. As vindication, Moody's and Fitch had also cautioned the government that its rating is in danger of being downgraded sometime next year.
The U.S. is in deep trouble with its current $14.5 trillion federal debt and well over $100 trillion in unfunded social security and Medicare liabilities (which does not take in to account of the burden to be imposed by Medicare Part D and Obamacare!). Whether one looks at the total indebtedness of the U.S. government in 2021 as $24 trillion or $22 trillion, the picture does not change appreciably. If the U.S. was a household, you could not find a single financial institution that would be willing to lend it money - not with a current income of $2.2 trillion against expenditures of $3.7 trillion that are projected to increase several fold over the coming years. Default or chaos is imminent. Despite former Fed Chairman Greenspan's claims that we can always print money, the end game is disastrous to the citizens of this country. Here are some basic facts:
- Entitlements are on auto pilot. They cannot be touched short of major entitlement reforms which have been demagogued every time someone suggested reforming them a la Bush when he floated the idea of privatizing a small portion of social security, and Congressman Ryan who recently outlined his plan reforming Medicare (meaning effectively privatizing it) for those under the age of 55. In both cases, the left went on full attack mode, shamefully and falsely accusing their opponents of kicking grandma out in the street.
- Entitlements currently make up nearly 2/3 of entire federal spending. That means what can be cut totals approximately $1.3 trillion (less than the current deficit, therefore you can literally shut down government and you still couldn't close the budget gap). Of that, defense spending constitutes little over half.
- The future projection of entitlement growth as well as debt service is what drives the entirety of our projected future indebtedness. The inescapable conclusion, therefore, is that nothing short of abandoning entitlements as they exist now will save us from impending doom. Sounds harsh? It is the reality politicians must face.
Real leadership would entail the President and the Congress making the tough decisions that are inescapable: reforming the entitlements. Until that happens, the U.S. can look forward to more downgrades and progressively increasing pain that is associated with fiscal irresponsibility.
Tuesday, August 9, 2011
Where Is The MSM On Flash Mobs?
If you did not read blogs or watch local news where the events are taking place, you would not know that there is a troubling trend growing in our country: flash mobs that rampage through city streets, fairs, beaches, and public events, beating and robbing people who are unfortunate enough to find themselves in the vicinity.
The events have ocurred in Florida, Illinois, New York, D.C., Wisconsin, and elsewhere. The latest from Wisconsin is especially disturbing.
As Potter Williams Report blogs, this happens to coincide with OFA's (Organizing for America) call earlier this year for "boots on the ground". "The 2011 Organizing for America campaign entitled “Summer Organizing Fellowship” “appealed for workers of all ages to volunteer to undergo professional organizational training this summer for stationing in communities all over the nation to drive President Obama's social and political agenda… In the end…their work will take our grassroots power to an impressive new level.”
Whether there is a connection there or not, this is a new phenomena and I find it disturbing that the MSM is keeping the lid on this story. Is Glen Beck's prediction about violence on the street's as part of the radical left's game plan coming true?
The events have ocurred in Florida, Illinois, New York, D.C., Wisconsin, and elsewhere. The latest from Wisconsin is especially disturbing.
As Potter Williams Report blogs, this happens to coincide with OFA's (Organizing for America) call earlier this year for "boots on the ground". "The 2011 Organizing for America campaign entitled “Summer Organizing Fellowship” “appealed for workers of all ages to volunteer to undergo professional organizational training this summer for stationing in communities all over the nation to drive President Obama's social and political agenda… In the end…their work will take our grassroots power to an impressive new level.”
Whether there is a connection there or not, this is a new phenomena and I find it disturbing that the MSM is keeping the lid on this story. Is Glen Beck's prediction about violence on the street's as part of the radical left's game plan coming true?
Sunday, August 7, 2011
Amilya Antonetti Rips Obama to Shreds (Video)
Amilya Antonetti is the CEO of AMA Productions, a NYC based firm that that discovers, develops, and delivers consumer brands and products that provide better choices for today's consumer. She was also the only female expert on CNBC’s “The Big Idea with Donny Deutsch” for a couple of years.
As an entrepreneur, she obviously detests Obama Administration's, and Democrats', anti-free market assault on America. Enjoy the video:
As an entrepreneur, she obviously detests Obama Administration's, and Democrats', anti-free market assault on America. Enjoy the video:
Saturday, August 6, 2011
Timmy: "No Risk"
Less than four short months ago, Timmy, the wonder boy, was asked if there was any chance the U.S. could lose its AAA sovereign bond rating. His unequivocal answer was, 'no risk'. Just the latest proof that no one in this Administration knows anything about their supposed area of expertise. Just a cursory knowledge of solvency related ratios such as debt to GDP as well as projected growth of Medicare and Social Security should have prompted him to answer yes instead. This guy is a complete moron as his infamous tax troubles exposed, like it or not.
Makes you feel kind of warm and fuzzy all over, doesn't it? At this point, I trust my cocker spaniel more than anyone in this group of incompetent boobs.
Makes you feel kind of warm and fuzzy all over, doesn't it? At this point, I trust my cocker spaniel more than anyone in this group of incompetent boobs.
Gotta Love Allen West
Here is Allen's birthday wish for the President, as it appears on his House site. Too bad he released this before the downgrade to AA+. It would have made a nice addition to Barack's resume:
| Happy Birthday Mr. President! | | |
| (WASHINGTON)--- Congressman Allen West (Fl-22) released this statement today: "Happy 50th Birthday Mr. President! While surprises are for birthdays, it is no surprise to the American people that your failed economic policies –- from TARP to your health care bill–- have resulted in disaster for our economy. Since taking office, unemployment has remained at or near 9 percent for 28 months, America has added $3.4 trillion in debt in 29 months -- the equivalent of about $4 billion per day -- we have an anemic housing market with record foreclosures, and an average price of nearly $4 for a gallon of gas. Even your budget did not receive one single vote in the United States Senate -- and the icing on the cake –- a stock market slide of nearly 800 points in the last 5 days. While it may be hard to hear the American people's frustration over the pop of the champagne corks and R&B bands at your $30,000/person birthday party, the citizens of this nation are suffering under your failed leadership. The best present you can give the American people will be for you and your failed economic policies to be defeated in November of 2012." |
Friday, August 5, 2011
Do They Really Think They Can Intimidate Us?
Obama Administration's newly rolled out anti-terrorist strategy is as purposefully vague as it is downright moronic.
Obamacare Realities Continue to Sink In
The travesty that is Obamacare continues to bear its ugly fruit. Aside from its most grave and immediate consequence - small to mid size businesses not expanding due to its higher labor costs imposed, other immediately less noticeable but nevertheless significant consequences like private doctor owned hospitals being scrapped, catholic hospitals closing down, medicine as a profession becoming far less attractive, and health insurance premiums skyrocketing are all taking their toll on the U.S. economy.
Now comes two new (and outrageous) developments that will surely pile on the future increases of medical insurance premiums.
First, as you may have already heard, Secretary Sebelius announced that, starting in 2013, birth control (as well as breast feeding) will be covered at no cost under insurance. Not only will the birth control pills (or other methods like IUDs) be covered 100% but also the rather expensive morning after pill. That means no deductibles, nothing. Welcome to the age of pregnancy being considered a treatable disease.
I leave it up to my readers' common sense to figure out what that alone will do to cost of insurance, not to mention promiscuity among teenagers.
Second, a provision of Obamacare in the form of a Medicare windfall is about to benefit Massachusetts hospitals to the tune of $275 million a year at the cost of hospitals in other states.
There it is...Obamacare in all its socialistic glory - benefiting the leaches of the society at the cost of the productive half.
Now comes two new (and outrageous) developments that will surely pile on the future increases of medical insurance premiums.
First, as you may have already heard, Secretary Sebelius announced that, starting in 2013, birth control (as well as breast feeding) will be covered at no cost under insurance. Not only will the birth control pills (or other methods like IUDs) be covered 100% but also the rather expensive morning after pill. That means no deductibles, nothing. Welcome to the age of pregnancy being considered a treatable disease.
I leave it up to my readers' common sense to figure out what that alone will do to cost of insurance, not to mention promiscuity among teenagers.
Second, a provision of Obamacare in the form of a Medicare windfall is about to benefit Massachusetts hospitals to the tune of $275 million a year at the cost of hospitals in other states.
There it is...Obamacare in all its socialistic glory - benefiting the leaches of the society at the cost of the productive half.
Thursday, August 4, 2011
Russians Busy Inciting Marxist Revolution in the U.S.A. (Video)
The fifth column in this country is clearly being egged on by those holding the Trade Mark for Marxist revolution. Watch the exchange between the good looking RT personality and one of our own home grown Marxist. Coupled with Gore's call for an American Spring and all the Tea Partiers are terrorists talk from all the progressive quarters, the intent is clear: It is time for civil unrest on the streets, which would hopefully culminate in Marxism triumphing over evil capitalism. It is both amusing and disconcerting at the same time.
H/T TrevorLoudon
H/T TrevorLoudon
Happy Anniversary, Timmy
No, it is not Tim Geithner's wedding anniversary, nor is it his birthday or anything like that. August 2nd was the one year anniversary of the smartest man in America - as the progressives would have you believe - claiming victory over the recession.
Back on August 2, 2010, Geithner wrote an Op-Ed piece titled "Welcome to the Recovery" in the New York Times. In the piece, Timmy the wonder boy reassured the unwashed masses that the devastation wrought by the great recession was now a memory. Lets see what has happened in the ensuing 12 months:
Sorry Timmy, it appears that the GDP growth during the first 12 months of the so-called recovery was twice as high as the recent 12 month's average of well below 2%.
No luck here either, Timmy. Although the unemployment rate has come down from 9.4% to 9.2%, the recent trend does not bode well for your delusions of recovery anytime soon.
What is it with this administration? It is as if everyone who works for it is required to get a frontal lobotomy before taking office. From the EPA Administrator who does not know how much CO2 there is in the atmosphere to the Treasury Secretary who is utterly clueless as to why despite record spending there is no recovery to speak of, almost every cabinet level appointee of the Obama Administration is clearly unprepared for their offices. I might even be willing to put up with all the scandals of this administration but having to put up with downright stupidity on top of it all is asking too much!
Come to think of it, going by the ineptness he so generously displays at every opportunity handed to him (who can forget the lame excuse for the IRS troubles that he had, which should have been a signal of things to come), we have the wrong Timmy in Office. We need one with fairy god parents.
Back on August 2, 2010, Geithner wrote an Op-Ed piece titled "Welcome to the Recovery" in the New York Times. In the piece, Timmy the wonder boy reassured the unwashed masses that the devastation wrought by the great recession was now a memory. Lets see what has happened in the ensuing 12 months:
Sorry Timmy, it appears that the GDP growth during the first 12 months of the so-called recovery was twice as high as the recent 12 month's average of well below 2%.
No luck here either, Timmy. Although the unemployment rate has come down from 9.4% to 9.2%, the recent trend does not bode well for your delusions of recovery anytime soon.
What is it with this administration? It is as if everyone who works for it is required to get a frontal lobotomy before taking office. From the EPA Administrator who does not know how much CO2 there is in the atmosphere to the Treasury Secretary who is utterly clueless as to why despite record spending there is no recovery to speak of, almost every cabinet level appointee of the Obama Administration is clearly unprepared for their offices. I might even be willing to put up with all the scandals of this administration but having to put up with downright stupidity on top of it all is asking too much!
Come to think of it, going by the ineptness he so generously displays at every opportunity handed to him (who can forget the lame excuse for the IRS troubles that he had, which should have been a signal of things to come), we have the wrong Timmy in Office. We need one with fairy god parents.
Tuesday, August 2, 2011
The Obama Downgrade, Alphabetically
From time to time, I reprint articles that are too good to pass up. Here is part of one (click on the link at the end to read the rest). It is a sad statement that reciting the 26 letters of the alphabet is nowhere near enough to mention all the failures of this disgraceful impostor in D.C.
---
By: Bret Stephens
@ The Wall Street Journal
Snapshots from President Obama's efforts to improve America's standing in the world, 923 days into his administration:
A is for the Arab world, and our standing in it: This year, Zogby International found that 5% of Egyptians had a favorable view of the U.S. In 2008, when George W. Bush was president, it was 9%.
B is for the federal budget deficit, which is estimated to come in at around 11% of GDP in 2011, up from about 3% in 2008.
C is for China's military budget. For 2012, Beijing plans to increase spending on defense by 12.7%. The Obama administration, by contrast, proposed Pentagon cuts in April averaging out to $40 billion per year over the next decade, and Congress may soon cut a lot more.
D is for—what else—the federal debt, which grew to $14.3 trillion this month from $10.7 trillion at the end of 2008. D is also for the dollar, which has lost almost half its value against gold since Aug. 2008.
E is for energy. The average retail price of a gallon of gas hovered near the $1.80 mark when Mr. Obama was inaugurated. It has since more than doubled. E is also for ethanol, the non-wonder fuel the U.S. continues to subsidize to the tune of $5 billion a year.
F is for free trade. Bill Clinton signed Nafta in 1994, which facilitates $1.6 trillion in the trade of goods and services between the U.S., Mexico and Canada. George W. Bush midwifed more than a dozen FTAs, from Australia to Singapore to Morocco to Bahrain. Number of FTA's signed by the current president: zero.
Read on...
---
By: Bret Stephens
@ The Wall Street Journal
Snapshots from President Obama's efforts to improve America's standing in the world, 923 days into his administration:
A is for the Arab world, and our standing in it: This year, Zogby International found that 5% of Egyptians had a favorable view of the U.S. In 2008, when George W. Bush was president, it was 9%.
B is for the federal budget deficit, which is estimated to come in at around 11% of GDP in 2011, up from about 3% in 2008.
C is for China's military budget. For 2012, Beijing plans to increase spending on defense by 12.7%. The Obama administration, by contrast, proposed Pentagon cuts in April averaging out to $40 billion per year over the next decade, and Congress may soon cut a lot more.
D is for—what else—the federal debt, which grew to $14.3 trillion this month from $10.7 trillion at the end of 2008. D is also for the dollar, which has lost almost half its value against gold since Aug. 2008.
E is for energy. The average retail price of a gallon of gas hovered near the $1.80 mark when Mr. Obama was inaugurated. It has since more than doubled. E is also for ethanol, the non-wonder fuel the U.S. continues to subsidize to the tune of $5 billion a year.
F is for free trade. Bill Clinton signed Nafta in 1994, which facilitates $1.6 trillion in the trade of goods and services between the U.S., Mexico and Canada. George W. Bush midwifed more than a dozen FTAs, from Australia to Singapore to Morocco to Bahrain. Number of FTA's signed by the current president: zero.
Read on...
Monday, August 1, 2011
Getting Bin Laden (and Lying About the Details)
If you are interested in reading about the operation to capture (hah!) or kill Bin Laden, I strongly suggest you read the New Yorker article by Nicholas Schmidle. It not only sheds light on the details of the operation, but also reaffirms what we already know: this is an Administration of liars (and bad ones at that).
Any thinking person would have known and jumped on the conclusion that, from the very beginning, it was decided not to take Bin Laden alive if and when he was found. Just think about it: capturing the symbolic head of anti-west terrorism and the can of worms that would open for any country holding him (not to mention trying and executing him). That would have been akin to watching a car crash in extreme slow motion - agonizing and a foreign relations disaster for an administration which has gone out of its way to try to dismiss military tribunals for captured terrorists.
The bulk of the evidence can be found in the following passages from the article:
Undoubtedly a pathetic little attempt to leave the door ajar for Obama etal. to claim they were telling the truth when they claimed capturing Bin Laden was an option.
Capturing Bin Laden would have nothing but downsides for the Administration as their faulty vision is one of establishing harmony with the Muslim world - not creating more tensions. Secondly, believing that SEALs memory of this operation would be cloudy is downright preposterous. This would require complete suspension of intellect as anyone who knows anything about SEALs knows that these are highly trained, highly intelligent special ops personnel who do not crack under pressure - let alone forget the details of such a memorable operation.
Once again, this is another indication of the shameless lies that this group will spread for perceived political benefit.
Any thinking person would have known and jumped on the conclusion that, from the very beginning, it was decided not to take Bin Laden alive if and when he was found. Just think about it: capturing the symbolic head of anti-west terrorism and the can of worms that would open for any country holding him (not to mention trying and executing him). That would have been akin to watching a car crash in extreme slow motion - agonizing and a foreign relations disaster for an administration which has gone out of its way to try to dismiss military tribunals for captured terrorists.
The bulk of the evidence can be found in the following passages from the article:
If all went according to plan, the SEALs would drop from the helicopters into the compound, overpower bin Laden’s guards, shoot and kill him at close range, and then take the corpse back to Afghanistan.and,
A second SEAL stepped into the room and trained the infrared laser of his M4 on bin Laden’s chest. The Al Qaeda chief, who was wearing a tan shalwar kameez and a prayer cap on his head, froze; he was unarmed. “There was never any question of detaining or capturing him—it wasn’t a split-second decision. No one wanted detainees,” the special-operations officer told me. (The Administration maintains that had bin Laden immediately surrendered he could have been taken alive.) Nine years, seven months, and twenty days after September 11th, an American was a trigger pull from ending bin Laden’s life. The first round, a 5.56-mm. bullet, struck bin Laden in the chest. As he fell backward, the SEAL fired a second round into his head, just above his left eye.As an expected side note, the New Yorker being a progressive publication, the author also adds:
None of them had any previous knowledge of the house’s floor plan, and they were further jostled by the awareness that they were possibly minutes away from ending the costliest manhunt in American history; as a result, some of their recollections—on which this account is based—may be imprecise and, thus, subject to dispute.
Undoubtedly a pathetic little attempt to leave the door ajar for Obama etal. to claim they were telling the truth when they claimed capturing Bin Laden was an option.
Capturing Bin Laden would have nothing but downsides for the Administration as their faulty vision is one of establishing harmony with the Muslim world - not creating more tensions. Secondly, believing that SEALs memory of this operation would be cloudy is downright preposterous. This would require complete suspension of intellect as anyone who knows anything about SEALs knows that these are highly trained, highly intelligent special ops personnel who do not crack under pressure - let alone forget the details of such a memorable operation.
Once again, this is another indication of the shameless lies that this group will spread for perceived political benefit.
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