National Debt Clock

Monday, June 29, 2009

Obama says coup in Honduras is illegal

It takes Obama days to speak out against the Iranian oppression and probably only does so after the backlash, but he finds no issue speaking out immediately to support a person who wanted to change their constitution so he could run for more terms than allowed.

Some notes on the Manuel Zelaya:
  • Alliance with Hugo Chavez in Venezuela. (Source)
  • Zelaya's Honduras is a member of Alba, a coalition of leftist Latin American countries that includes Bolivia, Cuba, Ecuador and Nicaragua and which is led by Chavez. (Source)
  • On May 24, 2007, ordered 10 2-hour cadenas (mandatory government broadcasts) on all television and radio stations, "to counteract the misinformation of the news media." (Source)
  • “The capitalist system is the most repugnant conception of justice that human beings can harbor.” (Source)

"If we were able to get to a ... status quo that returned to the rule of law and constitutional order within a relatively short period of time, I think that would be a good outcome," Clinton said.

What if the status quo is not what the people want? What famous quote comes to mind...

"When in the Course of human events, it becomes necessary for one people to dissolve the political bands which have connected them with another, and to assume among the Powers of the earth, the separate and equal station to which the Laws of Nature and of Nature's God entitle them, a decent respect to the opinions of mankind requires that they should declare the causes which impel them to the separation."

Minority Leader John Boehner's Filibuster

Sunday, June 28, 2009

Argentine Glacier Growing Despite Global Warming

"We're not sure why this happens," said Andres Rivera, a glacialist with the Center for Scientific Studies in Valdivia, Chile. "But not all glaciers respond equally to climate change."

We'll just disregard this because it's too inconvenient.

Welcome to Somali Cruises

"We sail up and down the coast of Somalia waiting to get hijacked by pirates. We encourage you to bring your 'High powered weapons' along on the cruise. If you don't have weapons of your own, you can rent them on the boat."

Friday, June 26, 2009

House narrowly passes major energy-climate bill

If this becomes law, people will look back on this as a repetition of history. This climate bill will be our generation's Smoot Hawley.

The Climate Change Climate Change

"The collapse of the "consensus" has been driven by reality. The inconvenient truth is that the earth's temperatures have flat-lined since 2001, despite growing concentrations of C02. Peer-reviewed research has debunked doomsday scenarios about the polar ice caps, hurricanes, malaria, extinctions, rising oceans."

Thursday, June 25, 2009

The Cap and Tax Fiction

"The whole point of cap and trade is to hike the price of electricity and gas so that Americans will use less. These higher prices will show up not just in electricity bills or at the gas station but in every manufactured good, from food to cars. Consumers will cut back on spending, which in turn will cut back on production, which results in fewer jobs created or higher unemployment. Some companies will instead move their operations overseas, with the same result."

"Waxman-Markey would cost the economy $161 billion in 2020, which is $1,870 for a family of four. As the bill's restrictions kick in, that number rises to $6,800 for a family of four by 2035."

"The reality is that cost estimates for climate legislation are as unreliable as the models predicting climate change. What comes out of the computer is a function of what politicians type in. A better indicator might be what other countries are already experiencing. Britain's Taxpayer Alliance estimates the average family there is paying nearly $1,300 a year in green taxes for carbon-cutting programs in effect only a few years.'"

The top-performing letter that predicted the Crash of 2008 now predicts a confiscatory Franklin D. Roosevelt-style "bank holiday."

HSL reports rumors that "Some U.S. embassies worldwide are being advised to purchase massive amounts of local currencies; enough to last them a year. Some embassies are being sent enormous amounts of U.S. cash to purchase currencies from those governments, quietly. But not pound sterling. Inside the State Dept., there is a sense of sadness and foreboding that 'something' is about to happen ... within 180 days, but could be 120-150 days."

EPA's own research expert 'shut up' on climate change

"His study was barred from circulation within the EPA and was never disclosed to the public for political reasons"

Clear evidence that these people do not have our best interests at heart.

Climate Bill Pays Billions to Save Other Countries' Trees

"The provision, called "offsets," has been attacked by both environmentalists and business groups as ineffective and poorly designed. Critics contend it would send scarce federal dollars overseas to plant trees when subsidies are needed at home, while the purported ecological benefits would be difficult to quantify."

Who thinks up these things?

Health Prevention Often Costs More Than It Saves

"The truth is, shockingly few prevention efforts actually save the health care system money overall, despite claims by the president and some in Congress."

Barney Frank asks Fannie, Freddie to Relax Condo Loan Rules

"Back when the housing mania was taking off, Massachusetts Congressman Barney Frank famously said he wanted Fannie Mae and Freddie Mac to "roll the dice" in the name of affordable housing. That didn't turn out so well, but Mr. Frank has since only accumulated more power. And now he is returning to the scene of the calamity -- with your money. He and New York Representative Anthony Weiner have sent a letter to the heads of Fannie and Freddie exhorting them to lower lending standards for condo buyers."

Let's reward incompetence, that will fix the economy.

Monday, June 22, 2009

Sin and Millionaire Taxes Are Not The Answer To State Deficits

Goldman to make record bonus payout

"A lack of competition and a surge in revenues from trading foreign currency, bonds and fixed-income products has sent profits at Goldman Sachs soaring, according to insiders at the firm."

Sunday, June 21, 2009

The Phantom Uninsured

"Of the 45.6 million persons in the U.S. that did not have health insurance at some point in 2007, 9.7 million, or about 21%, were not U.S. citizens."

"Also among the uninsured are 17 million Americans who live in households where the annual income exceeds $50,000; 7 million of those without coverage have incomes of $75,000 a year or more."

"Obama says his plan is to ensure "that there is an option out there for people . .. where the free market fails." But the free market has not failed, except when it's been overburdened by overregulation, mandates and litigation to the point that it is no longer free."

Friday, June 19, 2009

Obama holds to measured course on unrest in Iran

Is anyone really surprised? It is quite easy to do without convictions. Do you really think that by not speaking out about tyrannical crackdowns on civilians is going to leave you in a stronger position when push comes to shove? Absolutely not. They now will see us as even weaker for not having the backbone to speak out against something that is supposedly against your values.

Uncle Sam's Way too Noisy Survey

"According to the Census Web site, the fine for nonparticipation can be as much as $5,000, and filing false information can pack a $500 punch."

"The information is used by the government to spread around your tax dollars and justify federal bureaucracies; it can also be distributed to private businesses."

Tuesday, June 16, 2009

Obama's G20 plan kisses off Declaration of Independence
How did I miss this?

"The IMF and the Financial Stability Board become the effective global regulators over the corporate world, superseding all U.S. governmental authorities, including the Federal Reserve, the U.S. Treasury, the Federal Deposit Insurance Corporation and a host of corporate regulators, including the U.S. Department of Commerce and the U.S. Department of Labor"

Monday, June 15, 2009

Mahmoud Ahmadinejad Wins Victory in Iran's Turbulent Presidential Election

Is the White House just naive or is it just me? You are talking about a theocracy-dictatorship and you say that there has been "robust debate" and that "the reformist Mousavi could still make it in a run-off." You can't hope your way into a better world. Of course the reformer won, but did you guys really think that the election would be fair? C'mon now!

The White House was given erroneous intelligence evaluations about the way Iran's presidential election was managed. The administration's Iranian experts missed the point that in Middle East politics (except for Israel) it is not the people who determine an election, the shape of government and its policies but the unelected head of the tribe - in this case supreme ruler Khamenei
Riiighhhttt. Who the Hell are these people giving intelligence? I learned in a basic international relations class in college that the really power in Iran lies in the supreme ruler, the president is just a figure head. Seriously, you are the president of the United States and you have people less intelligent than me giving you intelligence. That is saying quite a lot.

"Despite the US envoy George Mitchell's unquestioned diplomatic skills, the tour he began in Israel and the Palestinian Authority, moving on to Cairo, Amman, Beirut and finally Damascus on Saturday, has produced no breakthroughs."
What dialogue doesn't work with tyrants and murders, who would have thunk it?

Sunday, June 14, 2009

N.Korea to build more nuclear bombs after UN vote

"North [Korea]... said it would never abandon nuclear weapons and would treat any attempt to blockade it as an act of war."
You really showed them this time, UN, yeah!

I love this, only in Washington can you "hail" something that causes "further provocations."
"Washington hailed the measure but warned that Pyongyang might respond with "further provocation."

Tuesday, June 9, 2009

When Egypt was in Gaza

"The Arab states don't want to solve the refugee problem. They want to keep it as an open sore, as a weapon against Israel. Arab leaders don't give a damn whether the refugees live or die."

Canada's ObamaCare Precedent

"Only half of ER patients are treated in a timely manner by national and international standards, according to a government study. The physician shortage is so severe that some towns hold lotteries, with the winners gaining access to the local doc."

"Americans have greater access to preventive screening tests and have higher treatment rates for chronic illnesses"

"Five-year cancer survival rates are higher in the U.S. than those in Canada."

"Ironically, as the U.S. is on the verge of rushing toward government health care, Canada is reforming its system in the opposite direction."

There are lessons to be learned here...

GOP Lawmakers to Fed: Stop Printing Money

“Creating dollars to cover debts gives markets a short term boost at the expense of debasing the dollar and triggering inflation. To date, the Federal Reserve has already created over $130 billion to cover $35 billion of long-term debt and over $100 billion of short-term securities”

Obama Indefensible New Tax Policy

The U.S. now has about the highest combined corporate tax rate, second only to Japan among industrialized countries. That rate is so high that U.S. firms have an enormous disadvantage versus competitors. The average corporate tax rate for the major developed countries in the Organization for Economic Cooperation and Development in 2008 was about 27 percent, more than 10 percentage points lower than the U.S. rate.

U.S. firms have nonetheless prospered because our tax code allows a business to set up a subsidiary in a low-tax country. When that subsidiary earns profits, they are taxed at the rate of that country, and don’t face U.S. tax until the money is mailed home.

The authors found that “10 percent greater foreign capital investment is associated with 2.2 percent greater domestic investment, and that 10 percent greater foreign employee compensation is associated with 4 percent greater domestic employee compensation. Changes in foreign and domestic sales, assets, and numbers of employees are likewise positively associated; the evidence also indicates that greater foreign investment is associated with additional domestic exports and R&D spending.”

So when firms expand their operations abroad, taking advantage of the lower foreign tax rates, it helps their workers in the U.S. Higher sales abroad (surprise, surprise) are good for domestic workers.

How could Treasury Secretary Tim Geithner call a practice that top scholarship has shown increases wages and employment in the U.S. “indefensible?”

Katie Couric Tells Princeton Grads to Avoid 'Nastiness,' Then Takes Swipes at Sarah Palin, Carrie Prejean

Of course she would do this, it is what liberals do. They are only accepting of accepted positions.

Monday, June 8, 2009

Voters Now Trust Republicans More than Democrats on Economic Issues

I realize that this is simply polling data that changes on a dime, but that is precisely the point. Obama has for the most part stuck to his word...he has implemented many of the programs and spending initiatives that he has promised, with more to come. However, these numbers show that Americans care more about what works than that liberal ideas are superior to that of conservatives. The Democrats did an amazing job of blaming this crisis on Republicans and conservative principles when in reality it was liberal principles enacted over the years that most likely led to the current situation. As more of Obama's policies get implemented, and the recession deepens, as I believe it will, maybe Americans will realize that having a liberal president and congress that can enact their agenda does nothing but further hurt our nation. Perhaps then conservative principles will win out. It is less, not more government that will save us from this crisis. We shall see...

Think twice about 'green' transport, say scientists

"The 'tailpipe' quotient does not include emissions that come from building transport infrastructure -- railways, airport terminals, roads and so on -- nor the emissions that come from maintaining this infrastructure over its operational lifetime."

It's all about who is calculating the numbers.

USA Moves Left, EU Moves Right

Interestingly, by moving left, the US is matching EU movements that have occurred over this past decade. Europe is trumpeted for its socialized medicine and welfare programs as models that the US should emulate. Why then are voters resisting further left movements in the midst crisis? If it has been "working" for so many years, why change? I feel it is because it doesn't work and only through the heartiness of capitalism have social programs been able to survive. Now that we are in a crisis, the sheep in wolves clothing has been unmasked...socialism does not solve social programs and in fact may potentially be the contributing factor to the crisis in the first place. However, the US fails to see the irony in all this. While our president calls for changes in the socialist vein, these very changes have failed in Europe and elsewhere. I fear that the invisible hand is going to have to smack us before we come to our senses.

Big Government Spending Programs to Revive Housing Market are Having the Opposite Effect

"All this means that even though mortgage rates are still low by historical standards, many of the trends that seem to be pointing to economic recovery in recent months could be undone fast."


Thursday, June 4, 2009

Ballmer Says Tax Would Move Microsoft Jobs Offshore

You get what you reward for, or in this case penalize for. Yes, the current tax code allows for companies to shelter their earnings overseas. I'm not here to debate whether that is right or wrong, simply that it is an obvious bi product of our extremely complex tax code. Of course companies are going to find loopholes. While Ballmer claims that the new tax code will be unfavorable, I venture to guess that in a couple years time, new loopholes will have emerged and exploited. The problem isn't that companies are finding ways to evade paying certain taxes, as Obama would have you believe, the problem is that any tax code as complex as ours will always have loopholes. Therefore, the solution isn't to add more lines to our tax code, but simplify it. Or, rather lower are 2nd in the world corporate tax rate. If you are looking to jump start the economy, it isn't to find ways to tax companies more, but less, thus spurring innovation and driving sales. That increase in sales will then increase tax revenues. Obama would be wise to not complicate the tax code further with more rules and regulations, but simplify it to the point where companies can easier understand what they have to pay and not be incentivize to hide their money in lower-tax foreign countries.

Car Chiefs Grilled on Dealer Closings

And so the micromanagement begins. How exactly is a business suppose to function when it has to be accountable to politicians who motivations now-a-days seem to be to lobbyists?

"I never would have believed as a candidate for the U.S. Senate that the U.S. government could buy GM without a hearing, with no vote, yes or no," Sen. Mike Johanns (R., Neb.) said at Wednesday's hearing. "There are billions and billions of dollars at stake here."

N.H. 'Gay Marriage' Bill Finally Goes to Gov. Benson

"Social conservatives had high hopes Lynch would veto H.B. 436, because as recently as mid-April he had said he believed the "word marriage is reserved for a marriage between a man and a woman." Lynch, though, disappointed conservatives in mid-May when he said he would sign the bill if a separate bill protecting religious liberties was passed. That separate bill was H.B. 73, which passed Wednesday."

What he meant to say was that "marriage is between a man and a woman unless I have a bill that I can sign to legalize it."

1 of every 6 dollars of Americans' Income is from a Government Check or Voucher

The sad thing is that while these benefits may be a great saftey net now during a recession, I would venture to guess that it is unlikely that they will be taken away, even once the recession has ended.

Tuesday, June 2, 2009

Obama says Iran's energy concerns legitimate

"Oil reserves in Iran, according to its government, rank third largest in the world at approximately 136 billion barrels (21.6×109 m3) as of 2007, although it ranks second if Canadian reserves of non-conventional oil are excluded. This is roughly 10% of the world's total proven petroleum reserves. Iran is the world's fourth largest oil producer and is OPEC's second-largest producer after Saudi Arabia."

So they need nuclear power why?

Monday, June 1, 2009

The Obama Motor Co.

"Treasury bludgeoned the bond holders in both Chrysler and GM to take pennies on the dollar, which will not make creditors eager to lend to the companies in the future."

"The new agreement simplifies some work rules and job descriptions but makes no reductions in hourly pay, pensions or health care for active workers. The agreement must also be renegotiated in two years by an Obama Administration running for re-election and weighing the need to keep Big Labor happy against the risks to taxpayer-shareholders."

"The Administration's concessions to the UAW also restrict the company's ability to import smaller, more fuel-efficient cars that it already makes overseas....GM is also selling its Opel operation in Europe as part of this restructuring, and the Washington Post reports that one of Treasury's sale conditions is that Opel's new owners must stay out of the U.S., and even out of China, where GM's business is strong. This is raw trade protectionism. It is also textbook cartel behavior and would be an antitrust violation if practiced by a business."

"The Obama Administration has been whispering to the press that it could start selling its stake within a year to 18 months, and that it hopes to be out of the business entirely in five years. But even assuming that the taxpayer investment stops at $50 billion, GM would have to be worth a cool $80 billion for taxpayers to break even on their 60% stake. By way of comparison, GM's market capitalization at its recent peak in 2000 was only $56 billion."

"The larger corruption will be when government tries to vindicate its ownership by favoring GM over Ford and the other auto makers that aren't wards of the state. The TARP legislation contained one blatant example in the form of a $7,500 tax credit for consumers who buy GM's new electric car, the Chevy Volt. "

Romney balks at government ownership of GM

Wow, this guys name sounds familiar and he has a great idea, why isn't he in a political office? Oh that's right, you Republicans decided to go with a washed-up Obama-light Rino!

Obama's $74,000 Dinner Date

Another case of Obama's "Do as I say, not as I do" political policy. Why should I be paying for this man's date? Seriously, what gives you the right to take my hard earned money and spend it on something that has nothing to do with you title as President. Use your own gosh darn money!

GM Files for Bankruptcy Protection

Apparently, it isn't to big too fail, wasn't that what we were told? What the hell did GM do with all that money we gave them, the billions of tax dollars? Why would you give someone money if they wouldn't be able to use it effectively? And even if you weren't sure, why would you gamble so much? Once again our government does us great service by wasting our hard-earned money. Nice job guys and girls in Washington...