Tag Archives: economy

Scott Brown Lied

The thunderous applause for the election of Scott Brown to the Senate seat held by Teddy Kennedy for four decades is coming to an abrupt halt.  Conservatives like myself, applauded the election despite the fact that Brown is moderate on social issues because he presented himself during the campaign as a fiscal conservative.  Apparently, he was lying.  Just another typical politician making good on the only thing politicians are really good at: lying.

Yesterday, the Republicans were filibustering Porkulus II, otherwise known as the Jobs Bill.  But at the end of the day, four GOP Senators helped advance the measure to a final vote tomorrow on a 62-30 vote.  The typical RINOs, Olympia Snowe, Susan Collins and George Voinivich, were three of the votes.  The fourth belonged to Scott Brown.  My how quickly the leopard changes his spots.  What is fisically responsible about a bill that at best would create 250,000 jobs?  The tax breaks in this bill are laughable and not enough to get uncertain small businesses to start hiring.  Many of the jobs are for temporary highway projects.  I am pretty sure that is what Porkulus 1 was all about.  Even Democrat Ben Nelson voted against the measure.

Scott Brown defended himself by commenting, “I came to Washington to be an independent voice, to put politics aside and to do everything in my power to help create jobs for Massachusetts families.  This Senate jobs bill is not perfect … but I voted for it because it contains measures that will help put people back to work.”  Yeah, good one Scott.  You keep up with that bi-partisanship that recklessly increases big government.

And We Thought The Budget Could Not Get More Bloated

This is completely mind boggling to me!  Did I step off of planet Earth for a minute and just imagine that the President has been characterizing himself as a deficit hawk?  The President has spent the better part of his presidency pointing back at President Bush and blaming him squarely for our financial woes and the huge deficit that met Obama at the door.  Pssst…Mr President, I think you missed the fact that Democrats controlled Congress for the last two years of Bush’s presidency and I am pretty sure that document you threw out in the trash bin behind the White House gives the spending power to Congress.  And now the President has presented his supposedly “spending freeze” budget to Congress and it comes in at a whopping $3.8 trillion dollars!

With a 2011 budget this large, one just knows there are little goodies stuffed into this thing.  Let’s see, the President thinks he is going to tax the wealthy more to help pay for his spending.  During the State of the Union, he bragged about his tax cuts and promised more for small business.  But many small businesses will fall under this new tax bracket of making over $250,000 annually.  The President promised to cut capital gains taxes for small businesses.  Unfortunately, that means nothing since the Bush tax cuts will go away at the same time, making this a complete wash.  The rich will also be limited in their itemized deductions.  Sure sounds “fair” to me.

There is an additional $100 billion in spending for job creation.  So by the time we get to 2011, this will be Porkulus Bill number 75?  This budget promises to add to the deficit.  So much for pointing back at Bush.  This year, the deficit will be $1.6 trillion and last year was $1.4 trillion and 2011 is projected to be $1.3 trillion.  That is if he can fund the budget.  I already pointed out he wants to soak the rich, which will not work, but he has another plan as well.  Despite the fact that Crap & Tax appears to be all but dead in the Senate, the President has funds raised from carbon credits in his budget.  That’s right, either the President knows something we don’t know – possibly an Executive Order to implement Crap & Tax? – or he is trying to pull a fast one.

Mark Tapscott, writing for the Washington Examiner said, “Whether it’s the $650 billion projected by the Senate bill or the $873 billion of the House bill, it appears highly unlikely, to put it charitably, that either measure will make it to Obama’s desk with the cap-and-trade program intact. That means Obama will be counting phantom revenue as part of his next federal budget proposal.  But then Obama’s $787 billion economic stimulus program has produced two million phantom jobs located in phantom zip codes in phantom congressional districts, so perhaps nobody should be surprised to see phantom revenues in a White House budget proposal.”

Despite the fact that projections show the deficit continuing to lower each year until 2020 when the deficit will be around $800 billion dollars, reality reveals something else that has me questioning if our economy can truly recover with Progressives at the helm. Estimates have the publicly held debt doubling to $18.5 trillion by 2020.  And the interest on our debt will quadruple to more than $800 billion by 2020.

The budget also contains the Tenth Amendment defying guarantee to spend $25 billion to provide state governments with six additional months of help paying their Medicaid bills.

We have watched politicians on both sides of the aisle spend our money irresponsibly and every year the deficit continues to hold above the trillion dollar mark and the national debt balloons.  I have no doubt that if John McCain were the president instead, that the budget would not be much better.  It is up to us on the grassroots level to stop this wasting of our hard earned dollars.

Obama’s Disingenuous Bi-Partisanship

On Friday, President Obama met with members of the House GOP at their annual three-day retreat in Maryland.  He made some opening remarks and then proceeded to conduct a question and answer session.  Mainstream Media and members of the left described the President’s “performance” as a return to his former campaign self and the three Stooges at MSNBC (Rachel Madcow as Larry, Racist Chris Matthews as Curly and Keith Olberdork as Moe) aired a special, dedicated to their analysis of the President’s appearance in Maryland where they basically declared Obama the winner and described how the President mopped the floor with the GOP – even without his trusty teleprompter.

I witnessed something quite different.  The President is not moving to the center and deciding that he would like to work in a bi-partisan way.  The State of the Union Address revealed that the President plans to move forward full steam ahead.  This meeting with the GOP backs that up as well.  The President was obtuse, answering questions in long rhetorical soundbites that left most wondering what the original question had been.  The President was defensive on many issues and stuttered and stammered to get his footing.

Obama claimed that he is open to GOP ideas.  He has said the same thing all year-long, even as he completely ignored GOP suggestions and he and his administration, along with the Democrats, have claimed time and time again that the Republicans are obstructionist and the party of “no” and have no ideas to offer.  A member of the GOP should have asked the President how the GOP managed to obstruct anything when they do not have enough votes to accomplish that – the Democrats obstructed the Democrats.  Mike Pence pointed this ignoring of GOP ideas out in this exchange with the President:

REP MIKE PENCE (R-IND.): Mr. President, a point of clarification.

What’s in the “Better Solutions” book are all the legislative proposals that were offered . . .

OBAMA: Oh, I understand. I’ve actually read your bills.

PENCE: . . . throughout 2009.

OBAMA: I understand.

PENCE: And so rest assured the summary document that you received is backed up by precisely the kind of detailed legislation that Speaker Pelosi and your administration have been busy ignoring for 12 months.

OBAMA: Well, Mike, hold on, hold on a second.

(APPLAUSE)

No, no, no, no, no. Hold on a second guys.  You know, Mike, I’ve read your legislation. I mean, I take a look at this stuff. And the good ideas we take.

But here — here’s the thing, here’s the thing, I guess, that all of us have to be mindful of. It can’t be all-or-nothing one way or the other, all right?  There’s eloquence for you.  “No, no, no, no, hold on guys…here–here’s the thing, here’s the thing.  As I said, he stuttered and stammered his way through this thing because he knows he is wrong and lying.  Confidence does not need to be defensive.

You — you — and what I mean by that is this. If we put together a stimulus package in which a third of it are tax cuts that normally you guys would support, and support for states and the unemployed and helping people stay on COBRA that your governors certainly would support, Democrat or Republican. And then you’ve got some infrastructure, and maybe there’s some things in there that you don’t like in terms of infrastructure, or you think the bill should have been $500 billion instead of $700 billion, or there’s this provision or that provision that you don’t like. In other words, Mike and the rest of you boneheads obstructing me, even if a bill is total garbage and full of waste, one bright shining light should get you on board to vote for this stuff.  The Porkulus Bill got its nickname for a reason: it was full of pork!  And has been proven an utter failure full of fraud.

If there’s uniform opposition because the Republican caucus doesn’t get 100 percent or 80 percent of what you want, then it’s going to be hard to get a deal done. That’s because that’s not how democracy works. The President of the United States does not know that he is the head of a Representative Republic.  He thinks this is a Democracy.

Something that many analysts did not pick up in the opening statements of the President set off some Marxist/Dictator warning bells.  We already had Obama call out the Supreme Court and attempt to embarrass them at the SOTU and he informed them that he was encouraging Congress to overturn their ruling to uphold the First Amendment with legislation.  The President later informed Congress that he would be issuing an Executive Order to set up the spending committee that would take over the Congressional power of deciding where spending should be allocated and cut.  So we have President getting Congress to take SCOTUS’ power and then the President taking Congress’ power leaving one person holding the bag.  And this brings me to this statement from Friday:

I’m ready and eager to work with anyone who is willing to proceed in the spirit of goodwill. But understand, if we can’t break free from partisan gridlock, if we can’t move past the politics of no, if resistance supplants constructive debate, I still have to meet my responsibilities as president. I’ve got to act for the greater good, because that, too, is a commitment that I have made. And that, too, is what the American people sent me to Washington to do.

The President just informed the nation that he is going to act for the greater good, which we know means his interpretation of good, even if he has to act without Congress.  We know that Congress will be in gridlock now with the election of Scott Brown and the GOP is aware that they cannot move forward any big government ideas without suffering the wrath of We The People.

Since the Massachusetts wake-up call, Obama’s only concession has been to issue a spending freeze in his 2011 budget.  This concession is not only temporary, but freezes spending at an exorbitant rate while not doing anything to reform entitlement programs like MediCare, MediCaid and Social Security, which are bankrupting the country.  And the next concession that the President will toss out to the little people is moving the 9/11 trials out of Manhatten.  This brings little solace to an American public outraged that non-citizens who took part in slaughtering 3,000 of our fellows were given Constitutional rights.  And the idea that this “circus” trial, that will give voice to these Jihadi terrorists to spill forth their bilge, is just going to be moved to another American city instead of back to GITMO insults our intelligence.

The President is putting on airs of being a willing participant in bi-partisanship, but the actions will prove that this is just another lie.  And so we will have to remind him again in November 2010 that We The People are the government.


My Predictions For The Year 2010

Last year I intermingled my irreverent and parodic based predictions with the real ones, but this year I will seperate the two.  First will be the serious predictions and then we’ll have the comic relief because we are going to need it.  Please feel free to add your own in the comments and join me on the radio if you would like to share them.  Tuesday January 5th at 6pm ET I will be discussing these on The Freedom’s Wings Show.

1.  Unemployment will see no real improvement.  Juan Williams of National Public Radio believes that unemployment will recover to 8%.  I hardly think so.  I see the unemployment rate going up once again to a peak of 10.6% and then just leveling off.  At best, the rate may drop to 10%, but that is not enough to benefit the Democrats in the 2010 election.

2.  The word for the economy of 2010 will be static.  I think the stock market will continue the up and down gyrations.  Housing will continue to remain where it was for the latter part of 2009, which will see more foreclosures and few new home buyers.  Home values I think will fall a bit as well, but nothing drastic.  There will not be a Depression.

3.  Something will change in the economy towards the end of the year and I believe that will be Ben Bernanke raising interest rates as inflation rears its head.  This will result in Stagflation because interest rates will be up and unemployment will still be high.

4.  The personal economies of the states will be the ones that will suffer.  Several states will face bankruptcy and collapse and will have to turn to the federal government for loans giving the government unprecedented control over the states and a breakdown of the 10th Amendment that so many states are re-establishing.  These states include: California, New York, Florida, Michigan, Rhode Island, New Jersey, Wisconsin, Arizona, Nevada and Oregon.

5.  Porkulus Bill 2 will appear sometime before summer.  This will also be sold as a recovery bill and I expect it will contain the term “jobs” somewhere in the title because the government continues to think that throwing federal money at the problem will solve it.

6.  Debt ceiling will be reached again before summer and, yet again, the Congress will vote to raise it to the level of $13 trillion.

7.  Without a doubt, everyone’s taxes will go up and Obama will explain that it is a necessity.

8.  There will be a shake up in the Obama administration at the very top – yes, that would be between VP Joe Biden and the President.  I foresee a big disagreement that finally pushes Biden over the edge and he steps down.  Michelle Obama would like to replace him, but I see Bill Richardson being chosen.

9.  In the 2010 elections, the House will lose 40 seats and the Senate will lose the supermajority and change to 51 Republicans and 40 Democrats.  Chris Dodd, Harry Reid and Barbara Boxer will be out.  Republican governors will win big as well and even local elections will see an influx of third party candidates winning for state representation.

10.  ObamaCare will pass, but it will be a skeleton of itself and the public will realize it is a tax and spend bill and nothing more.  The only true reform will come in the way of digitizing records.  Otherwise, the federal abortion funding will be out, the public option will be out and the inability to repeal the bill will be out.  The unconstitutional individual mandate will remain as well as the pay off earmarks, which will have increased to get liberal Democrats in the House on board.

11. Card Check will pass with the help of increased pressure from all of the unions.  This will be the pay off to the unions for backing ObamaCare that will raise taxes on union health insurance.

12.  ClimateGate will spread as more scientists are revealed to be providing fraudulent data.  Big name universities will be named.  At this time, the mainstream media will be forced to cover the story and Crap & Tax will die in the Senate.  Global cooling continues.

13.  The big push to buy gold will suffer a scandal as counterfeit gold is discovered to have been sold to a large number of people.  The value of gold will raise steadily though as the dollar continues to tank because the Treasury will be unable to stop printing money hand over fist.

14. The Tea Party Movement will continue to gain prominence as it organizes and will generate a huge shift in politics in America.  Tax Day Tea Party 2010 will have twice the numbers across the country as last year, meaning some two million people will attend events.  Glenn Beck’s gathering in August will host 2.5 million people.

15. Kim Jong-il will die this year.

16.  Pope Benedict will suffer a major health crisis.

17.  A major earthquake will hit the west coast as the Ring of Fire’s activity picks up.  I expect to see at least one, if not two, new volcanos to become active this year as well.  The earth will be suffering birth pains.

18. Amnesty is going to pass, but not in the form that the left would like.  I believe this bill will be bi-partisan (due to McCain and Grahamnesty) because it is watered down.  This will not be blanket citizenship and will require criminal invaders to pay fines, back taxes and register to vote.  They will not have to return to Mexico and then come back.

19.  Israel drop bombs on Iranian nuclear sites.  Iran will retaliate with missiles and do damage to Israel, but the Iranian regime will not have support from other Arab states and Russia and China will remain behind the scenes and not helpful.  I do not think World War III will erupt at this time because…

20.  The Iranian regime will fall.  The attack by Israel will embolden the revolutionaries to overthrow their regime and it will be replaced with a Democratic government.

21.  A large-scale terrorist attack will take place in America.  Several hundred people will be killed and wounded.  Barack Obama will follow this up with a strongly worded speech.

22.  Jay Leno will leave Prime Time in this utterly failed experiment.

23.  Wars in Afghanistan and Iraq will remain much the same even with the surge.  Yemen and Pakistan will continue to be hit with drone bombs.

Okay, so I know that makes for a pretty bleak 2010, but keep in mind that we usually end up having several feel good stories that make big news as well but they result from unbelievable circumstances so I cannot even begin to guess what these events will be.  Now it is to the fun stuff.  These are just comical predictions.

1.  Tiger Woods makes a rebound and adds a sponsor for a change: Hooters.  He legally changes his name to better facilitate his return to prominence to Lion Gigalo – rather that should by lyin’.

2.  Balloon boy is replaced by Hamster Ball Boy as a child gets trapped in his inventor dad’s experimental new exerciser and rolls across a major American city, weaving dangerously through traffic unable to stop.

3.  PlastiGirl’s face breaks.  The repairs leave poor PlastiGirl with a permanent “Joe Wilson said what?” look.

4.  Tom Cruise will die in a Scientology brain meld accident.  Katie Holmes cries, “Freedom!”

5.  Furlough Fridays spread across the nation as cities face cutbacks and soon branch out into Take Off Thursdays.

6.  Barack Obama bows to Castro.

7.  Mouse of Senate (Reid) loses his re-election bid and becomes horribly deformed in a mousetrap accident.

8.  Northern New York state secedes from the bottom half of New York and New York City in particular to escape the tax code.

9.  It is revealed that Rachel Madcow is really a man, but posed as a woman because she/he thought she/he could go farther in the media that way.

10.  Barack Obama receives the award for “Most Eloquent Teleprompter Reader, Biggest Equivocator Of The Year.”  Obama carries it with him everywhere he goes thinking that it is a positive development, while TOTUS goes on strike for getting no recognition.

Global Economy Continues Onslaught On Dollar

The new global economic order that the world seems hell bent on creating continues to weaken to the dollar.  And with America contributing just as heartily to that fate by increasing our deficit spending, printing unbacked dollars as quickly as ink can meet paper and monetizing our debt, the dollar really has no chance in the world.  Countries are quickly backing away from the dollar and the International Monetary Fund has been playing for months with the idea of creating a basket of currencies for nations to use as backing.  The one item that seems to be gaining ground in this currency turmoil is gold.  Gold has been setting records for weeks and has now reached an all time high.

Today gold prices hit a record above 1,100 dollars.  The reason is because ministers at this weekend’s G20 meeting pledged to continue the fiscal stimulus measures similar to what we have been doing in America.  This is just more easy money, which will eventually collapse under the weight of being propped up by nothing other than the hot air of world economic leaders.

In morning trading, gold struck an all-time peak of 1,109.50 dollars an ounce as the euro rose to 1.50 dollars for the first time in two weeks.  So obviously, if you can get gold get some.  The dollar’s death knell is tolling.

 

Cash For Clunkers Dead – Part 2

The sequels are never as good as the original and this sequel seems to be going that route.  In Cash For Clunkers 1, we watched a government program save itself from the brink of destruction with an added influx of dollars.  The original was so much better at $1 billion dollars, but the sequel had to be bigger to really blow our minds and so it came in at a whopping $2 billion.  The sequel did outlast the original by a few more days.  Funny thing is, we have the exact same ending.  Dealers standing with outstretched hands to recieve the promised government rebates and no money is forthcoming.  Where exactly is the $ 3 billion dollars that supposedly is funding this government entitlement?  And now we hear that Cash For Clunkers is dead yet again.  Wasn’t this suppose to make it into the Fall?  Most sequels do much better in the Fall.  That is when all the best shows are marketed.

Breitbart is reporting that the sequel comes to an end on Monday at 8pm ET, so be sure to see it before then.  “It’s been a thrill to be part of the best economic news story in America,” Secretary Ray LaHood said in a statement. “Now we are working toward an orderly wind down of this very popular program.”  Best economic news story in America?  Wow, the economy really does suck.  Dealers not getting reimbursed, people in over their heads with new cars and a bunch of perfectly useful cars smashed to bits and rendered inoperable leaving the used car business in the lurch as well as junkyards.  Sounds great to me!

Don’t worry dealers because Breitbart quoted the President in an interview Thursday “that the program has been ‘successful beyond anybody’s imagination’ but dealers were overwhelmed by the response of consumers. He pledged that dealers ‘will get their money.'”  And you can trust him because he never breaks a promise.

The Seventies Revisited

Apparently, President Barack Obama believes that Jimmy Carter’s leadership style is a model worthy of imitation.  The economy continues to spiral downward with rocketing unemployment numbers and huge deficits and the President is meeting foreign relation problems with Carter diplomacy, which equates to pandering and a loss of security.  The Obama presidency has mirrored several presidencies – Woodrow Wilson’s and Franklin Roosevelt’s to name a couple – but Jimmy Carter’s presidency is the one we will feel the most in the upcoming months.

During Carter’s presidency, interest rates skyrocketed.  Right now, the Federal Reserve has our interest rates parked at nearly zero, but that is about to change.  The rampant printing of currency with no backed value and our increasing debt load has lead countries away from buying our debt and we have been forced to monetize our debt.  The end result is increased interest rates to manage the debt.  And these interest rates will continue to rise as long as government waste continues.  Increased interest rates will affect all Americans as we have to pay more for homes, cars, insurance, etc.

Inflation will rise as well and will increase at such a rate that it will be referred to as hyper-inflation.  This also will affect everyone as groceries staples and big ticket items all rise in price.  The devaluing of the dollar will help lead to this inflation as well and it will not only “cost” more for products, but more dollars will be needed.  In Germany, before Hitler too power, people were literally using wheelbarrows to take their money to the store.  It was not that bad during Carter’s one term, but the price of milk and bread was outrageous.

Gas prices are already on the rise.  There is also no hope that America will begin drilling here and now for our own oil reserves which could lead to a shortage of oil.  We watched this happen last year and can expect the same result as we meander through this summer.  Increased gas prices and a shortage of fuel leads to long lines at gas stations.  Who can forget the pictures of lines at gas stations during the seventies.

Obama is using the kind of diplomacy that Carter implemented which lead to Americans being taken hostage (can anyone say North Korea?) and terrorist regimes growing and taking over more power, which ultimately lead to 9/11.  We cannot play nicey nice with our enemies and expect them to do what we want.  We only look weak and our enemies have always taken advantage of us when we appear weak.

This Obama presidency really is beginning to feel like a seventies flashback.  The music was great, but I can really do without money and security woes.