Or, put another way, "Remove the Stain of Barak Hussein Obama from American Politics" Day!
Today we can rebuke and remove America's first anti-American president.
Today we can rebuke and replace the Reid/Pelosi congress.
Today we can set the nation on a path of recovery and renewal!
We can repeal the government takeover of healthcare - Obamacare - and get rid of it. (Also, disabuse some "conservatives" of crafting some kind of interstate "market" for health care insurance that just begs for federal regulation of interstate commerce).
Today we can start fixing the economy instead of harming it.
Every dollar taken from the economy in taxes is a net loss to the economy. We must lower taxes and slash federal spending. NOW!
Today we can fix it so we rescue Ambassadors under attack by terrorists instead of letting them die in the street.
Today we can avoid plunging off the fiscal cliff and defuse the January 1 tax bomb.
Today we can chase Chicago/Alinsky politics out of Washington.
Today is the day of the American Renewal. Let's make it happen today!
Showing posts with label budget. Show all posts
Showing posts with label budget. Show all posts
Tuesday, November 6, 2012
Monday, August 1, 2011
Thoughts on the Proposed Debt Limit Deal
We now have a proposed “bipartisan” debt deal hammered out by the people who have put us in the position of having unsustainable spending levels and unsustainable debt in the first place, and foisted upon the American people and Congressional rank-and-file sight unseen:
Spending levels are economically unsustainable now, and will be unsustainable after this debt deal.
The debt level is economically unsustainable now, and will be worse after this deal.
While raising the debt limit will allow the treasury to borrow money to continue the present unsustainable level of spending, it will not preserve the US’ AAA bond rating.
The US will not default on its debt obligations whether or not the debt deal passes.
The debt deal permits immediate access to the first tranche of borrowing, and will permit the entire amount to be borrowed in less than a year, yet the spending “cuts” are spread out over ten years. This gives Barak Obama a blank check for two years, and handcuffs the replacement President for the next eight.
The spending “cuts” are reductions in the baseline growth over government spending over the ten years, not actual cuts to the existing budget. This deal actually cuts nothing, it only slows the growth of spending, and not even at a rate below inflation.
The deal exempts cuts to the greatest sources of budget busting in the future: Social Security, Medicare, and Obamacare.
The debt deal will permit the balance of the fiscal year to be spent as set forth in the continuing budget resolution (remember, the Democrats have not passed a actual federal budget in more than 800 days).
If a budget deal is not passed, the US will not be able to borrow additional sums of money. It would be, therefore, a “poor man’s” balanced budget amendment, or better yet, a spending cannot exceed revenues cap. It is a back-door way to forced fiscal responsibility in spending.
If the US is not in the market for loanable funds, the demand for investment funds is therefore decreased, which has the effect of lowering interest rates on such investments.
Given all this, what is the benefit of this debt deal?
If a budget deal is not passed, the US’ bond rating will certainly be downgraded.
If the US’ bond rating is downgraded, interest rates might rise from 0.1 to 0.5 points, and they are already at near historical lows, however, this will be offset by the decrease in interest rates on investment funds. Given the Fed’s qualitative easing over the last several months, an small interest rate increase is likely in any event.
If a budget deal is not passed, the Obama administration would pick and choose which programs get paid and which programs will become prorated or impounded, that is, which are short-paid and which are not paid at all. In any event, there is adequate revenues coming into the Treasury to service all US debt and continue Defense, FAA, Social Security, and Medicare payments if Obama so chose. Senator Pat Toomey has proposed legislation directing the priority of payments, and Congress can certainly direct the Administration by law if it so chose.
If a budget deal is not passed, non-essential government workers would likely be furloughed. Thus, we will get to see how many people are on the government payroll that are not doing anything essential for taxpayers. One wonders why we have non-essential government workers in the first place. In years past, when this happens, the government workers get paid for the furloughed days anyway, which just provides these government workers yet another paid holiday at taxpayer expense.
Politically, Obama will blame Republicans and the Tea Party for a government shutdown. But, as all elements of government are held in extremely low regard by the people, what difference would it make? Since none of the GOP’s leading candidates for president in 2012 are involved in this budget and debt limit mess, but Obama is, a shutdown will hurt Obama’s reelection chances as much as anyone’s.
Lastly, it bears mentioning that every budgetary and economic government action has unforeseen economic consequences. These can be good or bad, and they are certainly hard to predict. So, the budget deal at least alleviates uncertainty, even as it simply postpones a real date of reckoning.
So, is it worth it to the taxpayers and for the rank-and-file of each party in Congress to accept this budget deal to possibly avoid a bond rating downgrade, in fact avoid forced government belt-tightening, and the political ramifications of a partial government shutdown?
Spending levels are economically unsustainable now, and will be unsustainable after this debt deal.
The debt level is economically unsustainable now, and will be worse after this deal.
While raising the debt limit will allow the treasury to borrow money to continue the present unsustainable level of spending, it will not preserve the US’ AAA bond rating.
The US will not default on its debt obligations whether or not the debt deal passes.
The debt deal permits immediate access to the first tranche of borrowing, and will permit the entire amount to be borrowed in less than a year, yet the spending “cuts” are spread out over ten years. This gives Barak Obama a blank check for two years, and handcuffs the replacement President for the next eight.
The spending “cuts” are reductions in the baseline growth over government spending over the ten years, not actual cuts to the existing budget. This deal actually cuts nothing, it only slows the growth of spending, and not even at a rate below inflation.
The deal exempts cuts to the greatest sources of budget busting in the future: Social Security, Medicare, and Obamacare.
The debt deal will permit the balance of the fiscal year to be spent as set forth in the continuing budget resolution (remember, the Democrats have not passed a actual federal budget in more than 800 days).
If a budget deal is not passed, the US will not be able to borrow additional sums of money. It would be, therefore, a “poor man’s” balanced budget amendment, or better yet, a spending cannot exceed revenues cap. It is a back-door way to forced fiscal responsibility in spending.
If the US is not in the market for loanable funds, the demand for investment funds is therefore decreased, which has the effect of lowering interest rates on such investments.
Given all this, what is the benefit of this debt deal?
If a budget deal is not passed, the US’ bond rating will certainly be downgraded.
If the US’ bond rating is downgraded, interest rates might rise from 0.1 to 0.5 points, and they are already at near historical lows, however, this will be offset by the decrease in interest rates on investment funds. Given the Fed’s qualitative easing over the last several months, an small interest rate increase is likely in any event.
If a budget deal is not passed, the Obama administration would pick and choose which programs get paid and which programs will become prorated or impounded, that is, which are short-paid and which are not paid at all. In any event, there is adequate revenues coming into the Treasury to service all US debt and continue Defense, FAA, Social Security, and Medicare payments if Obama so chose. Senator Pat Toomey has proposed legislation directing the priority of payments, and Congress can certainly direct the Administration by law if it so chose.
If a budget deal is not passed, non-essential government workers would likely be furloughed. Thus, we will get to see how many people are on the government payroll that are not doing anything essential for taxpayers. One wonders why we have non-essential government workers in the first place. In years past, when this happens, the government workers get paid for the furloughed days anyway, which just provides these government workers yet another paid holiday at taxpayer expense.
Politically, Obama will blame Republicans and the Tea Party for a government shutdown. But, as all elements of government are held in extremely low regard by the people, what difference would it make? Since none of the GOP’s leading candidates for president in 2012 are involved in this budget and debt limit mess, but Obama is, a shutdown will hurt Obama’s reelection chances as much as anyone’s.
Lastly, it bears mentioning that every budgetary and economic government action has unforeseen economic consequences. These can be good or bad, and they are certainly hard to predict. So, the budget deal at least alleviates uncertainty, even as it simply postpones a real date of reckoning.
So, is it worth it to the taxpayers and for the rank-and-file of each party in Congress to accept this budget deal to possibly avoid a bond rating downgrade, in fact avoid forced government belt-tightening, and the political ramifications of a partial government shutdown?
Saturday, August 14, 2010
Monday, March 15, 2010
I Hope This Changes
The B. Hussein Obama Administration, the "smartest people in the room", the calm and detached believers in soft diplomacy, the anti-cowboys, appear to be spoiling for a fight with the United States' single largest creditor, Communist China. It appears that elements of the ChiCom's political class want this fight as well.
While I have no love for Communists, and detest Communist China particularly, I know Obama has no stomach for a military confrontation, which the US would decisively win.
Instead, having bloated the debt markets with cheap US Bonds, Obama will pick a fight with China over currency manipulation. China has the capacity, and may be looking for an excuse, to dump its US debt holdings. If they do so, they will make it impossible for the US to borrow more money in the short term and mid terms.
Because B. Hussein Obama has neither the stomach or the capacity to understand government austerity in such an event, all Obama will be left with is US currency manipulation. Inflation and interest rates with skyrocket, and my prediction of a "Welcome Back Carter" presidency will be fulfilled.
In the long run, the US (or what is left of it) would come out ahead due to the innovative economic thinking of its people, not its government. But, in the long run, we are all dead.
While I have no love for Communists, and detest Communist China particularly, I know Obama has no stomach for a military confrontation, which the US would decisively win.
Instead, having bloated the debt markets with cheap US Bonds, Obama will pick a fight with China over currency manipulation. China has the capacity, and may be looking for an excuse, to dump its US debt holdings. If they do so, they will make it impossible for the US to borrow more money in the short term and mid terms.
Because B. Hussein Obama has neither the stomach or the capacity to understand government austerity in such an event, all Obama will be left with is US currency manipulation. Inflation and interest rates with skyrocket, and my prediction of a "Welcome Back Carter" presidency will be fulfilled.
In the long run, the US (or what is left of it) would come out ahead due to the innovative economic thinking of its people, not its government. But, in the long run, we are all dead.
Friday, February 26, 2010
Open Questions About The Healthcare Meeting
Why are the Democrats involving Republicans in the discussion about the bills only AFTER the bills have been written and passed by both houses of Congress? The bills have not been withdrawn or rebuked by the Democrat leadership, and the Democrats have had for a year all the votes they need to put a health care takeover on the Anointed One's desk. This was not the Democrats seeking advice and counsel. This was the Democrats seeking a criminal accomplice.
What I did not hear from the Republicans is just as concerning as what I continue to hear from the Democrats. Not one Republican (and certainly no Democrat) said that it is the responsibility of the individual, not government, to provide for his or her own health care. The GOP has bought into this notion that someone other than the recipient must pay for a person's health care.
And that mindset is how we got into the fiscal pickle in the first place.
The price of freedom is not vigilance; the price of freedom is self-reliance. You are a slave if you are dependent upon any other person or entity to receive your needs. If you depend on the government for health care, you are a slave.
Update: People are starting to get it. A CNN poll shows that a majority of Americans now see the government as a threat to their rights. It's been that way all along - slaves have no rights. Glad the "moderates" are catching on.
http://politicalticker.blogs.cnn.com/2010/02/26/cnn-poll-majority-says-government-a-threat-to-citizens-rights/?fbid=iT32dtaoaK5
What I did not hear from the Republicans is just as concerning as what I continue to hear from the Democrats. Not one Republican (and certainly no Democrat) said that it is the responsibility of the individual, not government, to provide for his or her own health care. The GOP has bought into this notion that someone other than the recipient must pay for a person's health care.
And that mindset is how we got into the fiscal pickle in the first place.
The price of freedom is not vigilance; the price of freedom is self-reliance. You are a slave if you are dependent upon any other person or entity to receive your needs. If you depend on the government for health care, you are a slave.
Update: People are starting to get it. A CNN poll shows that a majority of Americans now see the government as a threat to their rights. It's been that way all along - slaves have no rights. Glad the "moderates" are catching on.
http://politicalticker.blogs.cnn.com/2010/02/26/cnn-poll-majority-says-government-a-threat-to-citizens-rights/?fbid=iT32dtaoaK5
Sunday, January 31, 2010
The Jobs Bill Joke
All this talk about a "Jobs Bill" is downright laughable. The government cannot create jobs (certainly not private sector, entrepreneurial jobs). The government can only create more government, and to do so, will rob the economy of job producing private capital.
For a president that claims he is not an ideologue, all of his proposed solutions only come out of one book: Das Kapital by Karl Marx.
The Republicans should put forth a real solution: deep, permanant cuts to the federal tax rates, and deep, permanent cuts to the federal budget, starting with so-called "entitlements."
For a president that claims he is not an ideologue, all of his proposed solutions only come out of one book: Das Kapital by Karl Marx.
The Republicans should put forth a real solution: deep, permanant cuts to the federal tax rates, and deep, permanent cuts to the federal budget, starting with so-called "entitlements."
Saturday, May 23, 2009
Obama Admits: We're Broke
In an interview with C-SPAN broadcast timed for the news blackout that that is Memorial Day weekend, B. Hussein Obama said “We are out of money now. We are operating in deep deficits.”
Obama has thus admitting that the Tea Party protestors are absolutely right. He has spent more than the Treasury can or will take in.
Obama has thus admitting that the Tea Party protestors are absolutely right. He has spent more than the Treasury can or will take in.
Naturally, he will use this crisis to further erode free markets and impose Statism. One thing about Communists, they know how to make the same mistakes over and over and over and over.
Monday, May 18, 2009
Inconvenient Truths That Are Actually True
Barak Obama’s budget deficit for this year alone will turn out to be greater than any of Bill Clinton’s entire budgets.
WWF’s panicked television commercials notwithstanding, Polar Bears are not an endangered species. Not even the eco-lunies in Barak Obama’s administration will stop Eskimos from hunting some of the estimated 25,000 polar bears.
RINO Rep. Pete King (R-NY) introduced the Denying Firearms and Explosives to Dangerous Terrorists Act of 2009, H.R. 2159, which gives the attorney general the power to deny a person the right to buy a gun if the AG "determines that the transferee is known (or appropriately suspected) to be or have been engaged in conduct constituting, in preparation for, in aid of, or related to terrorism, or providing material support thereof, and the Attorney General has a reasonable belief that the prospective transferee may use a firearm in connection with terrorism." This horribly vague language is clearly an infringement on the American citizens’ 2nd Amendment Rights and doubly worrisome since Homeland Security’s Janet Napolitano recently issued a report stating that all persons who believe in a limited federal government or oppose abortion are likely terrorists.
House Speaker Nancy Pelosi (D-CA) is lying about the content of her briefings on enhanced interrogation techniques. Democrats are starting to protect their own interests in this affair, at the expense of Speaker Nannystate.
College is not for everyone. The States would do well to start issuing certifications of competency based on objective testing in specific areas instead of making more and more students bear the expense of a university education.
In this, the coldest spring in recent memory, three eco-warriors intended to sail from Plymouth, England to Greenland in a carbon-emission-free yacht – followed by schools all over England to raise awareness of “global warming”. Can you guess where this is going? Only 400 miles along in their journey, they had to be rescued by the crew of the Overseas Yellowstone – an oil tanker.
"Hold on, my friends, to the Constitution and to the Republic for which it stands. Miracles do not cluster and what has happened once in 6,000 years, may not happen again. Hold on to the Constitution, for if the American Constitution should fail, there will be anarchy throughout the world." --U.S. Senator Daniel Webster (1782-1852)
Hattip to patriotpost.us
WWF’s panicked television commercials notwithstanding, Polar Bears are not an endangered species. Not even the eco-lunies in Barak Obama’s administration will stop Eskimos from hunting some of the estimated 25,000 polar bears.
RINO Rep. Pete King (R-NY) introduced the Denying Firearms and Explosives to Dangerous Terrorists Act of 2009, H.R. 2159, which gives the attorney general the power to deny a person the right to buy a gun if the AG "determines that the transferee is known (or appropriately suspected) to be or have been engaged in conduct constituting, in preparation for, in aid of, or related to terrorism, or providing material support thereof, and the Attorney General has a reasonable belief that the prospective transferee may use a firearm in connection with terrorism." This horribly vague language is clearly an infringement on the American citizens’ 2nd Amendment Rights and doubly worrisome since Homeland Security’s Janet Napolitano recently issued a report stating that all persons who believe in a limited federal government or oppose abortion are likely terrorists.
House Speaker Nancy Pelosi (D-CA) is lying about the content of her briefings on enhanced interrogation techniques. Democrats are starting to protect their own interests in this affair, at the expense of Speaker Nannystate.
College is not for everyone. The States would do well to start issuing certifications of competency based on objective testing in specific areas instead of making more and more students bear the expense of a university education.
In this, the coldest spring in recent memory, three eco-warriors intended to sail from Plymouth, England to Greenland in a carbon-emission-free yacht – followed by schools all over England to raise awareness of “global warming”. Can you guess where this is going? Only 400 miles along in their journey, they had to be rescued by the crew of the Overseas Yellowstone – an oil tanker.
"Hold on, my friends, to the Constitution and to the Republic for which it stands. Miracles do not cluster and what has happened once in 6,000 years, may not happen again. Hold on to the Constitution, for if the American Constitution should fail, there will be anarchy throughout the world." --U.S. Senator Daniel Webster (1782-1852)
Hattip to patriotpost.us
Monday, May 11, 2009
Obama's Budget Blowout -- Epic Fail
B.O. is really stinking it up on the Federal budget deficit.The White House today estimates that this year's budget deficit will be 400% larger than ever before -- nearly $2,000,000,000,000,000.00. Almost Two Thousand Billion Dollars.
Put another way, for budget passed by the Democrats this year, we will have to borrow 46 cents for every dollar the government spends.
Obama further admits his long-term spending plan would push the total US deficit to $7,100,000,000,000,000.00 - 7.1 Trillion dollars. More than two budget years in arrears.
Adults should ask this petulant child if he thinks money grows on trees!
For the love of all that is good about this Country, for the sake of its very survival, and through the intercession of this nation's Founding Fathers, this man must be stopped before he destroys us.
Thursday, May 7, 2009
Obama Proposes Out of Control Spending - Again
“We can no longer afford to spend as if deficits don't matter and waste is not our problem. We can no longer afford to leave the hard choices for the next budget, the next administration -- or the next generation" B. Hussein Obama said as he proposed a wasteful $3,400,000,000,000.00 budget that explodes the deficit, makes no hard choices, and puts the debt burden squarely on the next generation.
But Obama wants credit as a budget trimmer for proposing cuts to certain programs that amount to one half of one percent (0.5%) of his budget. By comparison, if you were buying a $34,000 car, you would be asking the dealer for $170 off to “seal the deal.” What a joke!
By comparison, George Bush’s last budget proposed twice the amount for savings, and still kept the F-22 and a new fleet of Marine One helicopters in the budget.
The mainstream media will tell you that this budget costs “every American” $11,500. NOT! Not every American pays taxes. This budget will cost the average taxpayer about $24,000.00 in direct and indirect taxes, with “the rich” being hit for the top 85% of the revenue generation.
While more than half of all Americans pay no income tax at all, each of them still get hit with the indirect tax portion of about $10,000.00 a year.
The Tea Parties must continue to push the message that this Obama Administration wants a government that is too big, too socialist, and unconstitutional in scope.
But Obama wants credit as a budget trimmer for proposing cuts to certain programs that amount to one half of one percent (0.5%) of his budget. By comparison, if you were buying a $34,000 car, you would be asking the dealer for $170 off to “seal the deal.” What a joke!
By comparison, George Bush’s last budget proposed twice the amount for savings, and still kept the F-22 and a new fleet of Marine One helicopters in the budget.
The mainstream media will tell you that this budget costs “every American” $11,500. NOT! Not every American pays taxes. This budget will cost the average taxpayer about $24,000.00 in direct and indirect taxes, with “the rich” being hit for the top 85% of the revenue generation.
While more than half of all Americans pay no income tax at all, each of them still get hit with the indirect tax portion of about $10,000.00 a year.
The Tea Parties must continue to push the message that this Obama Administration wants a government that is too big, too socialist, and unconstitutional in scope.
Monday, May 4, 2009
Only the Good Die Young
Arlen "The Rat" Specter this weekend wanted to take a poke at fiscal conservatives by hinting that if only the Republicans would be willing to spend more money on undefined medical research, Jack Kemp "would be alive today".
What unmitigated gall! This is the attitude of a man who wishes to represent the people of Pennsylvania.
This man sickens me more every day. Too bad Jack did not survive his cancer, and worse for the nation that Arlen did.
What unmitigated gall! This is the attitude of a man who wishes to represent the people of Pennsylvania.
This man sickens me more every day. Too bad Jack did not survive his cancer, and worse for the nation that Arlen did.
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