There's no doubt that tonight's State of the Union address will grab most of the day’s headlines as Obama lays out his goals for the coming year. But today is an important one for another reason — it marks the 1,000th day since the United States Senate has passed a budget. While the House has put forth (and passed) its own budget, the Senate has failed to do the same for more than two years.
While the Obama administration is fond of blaming its current woes on a “Do-Nothing Congress,” they are apt to forget that half of the current Congress is controlled by their own party. Today, the “Do-Nothing Democrats” in the Senate have yet again, as Washington Post columnist Dana Milbank wrote, set, "a new standard in dereliction of duty."
1.24.2012
VIDEO: 1,000 Days Without a Senate Budget
1.02.2012
Santorum Shreds NBC’s Gregory (Video)
On Sunday's Meet the Press on NBC, as guest Rick Santorum criticized President Obama because he refused to support a democracy movement in Iran that might have weakened the anti-America radical Muslim government of Tehran, but, by contrast, supported a democracy movement in Egypt directed against a pro-America government - which resulted in an election that recently handed more power in Cairo to radical Muslims - host David Gregory accused the GOP presidential candidate of being "patently contradictory." (Video below)
Read more at newsbusters.org
12.30.2011
Win for Private Property Rights: CA high court says state can eliminate redevelopment
Redevelopment agencies were authorized by the California state legislature in 1945 to combat urban blight “in the interest of the health, safety, and general welfare of the people… and of the state."
Often referred to as the “unknown layer of government” redevelopment consumes approximately 10 percent of all property taxes statewide in California, diverting $5 BILLION from counties, cities, special districts, and school districts.
More importantly, as one of the only governmental entities authorized with the power of eminent domain, redevelopment empowered governments to confiscate, or take, private property as long as it is for a so-called “public use" thereby serving as one of the largest threats to private property rights in all of California.
Now, in a significant budget win for Gov. Jerry Brown and lawmakers, the California Supreme Court ruled Thursday the state can eliminate the local agencies that subsidize construction in blighted areas. The decision strengthens the state's ability to take funds from redevelopment agencies for the current budget. It also provides leverage for state leaders to use more than $1 billion annually in redevelopment property tax dollars to balance future budgets.
As noted several months ago in this post, well-defined and enforced private property rights are the cornerstone of a capitalist economy. The positive economic effects of private property are widespread. Secure property rights promote specialization and exchange, provide incentives for conservation and preservation of resources, and promote technological innovation, entrepreneurship, capital accumulation, and investment. In essence, secure property rights underlie economic growth.
Simply put, private property is necessary for economic growth and to achieve prosperity. Government infringement through redevelopment's use of eminent domain powers undermines private property rights in California. This distorts incentives, discourages the use of assets as collateral, and forfeits the benefits of capitalism. By eliminating redevelopment and the use of eminent domain, municipal leaders will witness the economic growth they so desperately desire.
California's Redevelopment Agencies have been little more than a failed experiment. While there is little doubt that both Republican and Democratic lawmakers will try and revive the agencies, this ruling is a massive victory that will strengthen the property rights of all Californian's thereby spurring economic growth from the bottom up.
11.01.2011
Costs for CA High-Speed Rail Increase Faster Than a Speeding Bullet
Now, with California's budget dried up and over-leveraged, the cost of California's massive high-speed fail project is increasing faster than a speeding bullet - zooming to nearly $100 billion -- triple the estimate given to voters and more than enough to run the entire state government for a year.
Hard to believe this is a government project right?
10.31.2011
And So It Continues... Another Obama-Backed Green Energy Company Goes Bust
Another green energy company that was awarded stimulus cash for its survival went belly up this past week. The Obama Administration awarded $43 million in conditional loan guarantees from the Department of Energy to Beacon Power in June 2009. Now it’s bankrupt.
Yahoo Finance reported, via Free Republic:
Beacon Power Corp filed for bankruptcy on Sunday, just a year after the energy storage company received a $43 million loan guarantee from a controversial Department of Energy program.
The bankruptcy comes about two months after Solyndra — a solar panel maker with a $535 million loan guarantee — also filed for Chapter 11, creating a political embarrassment for the administration of President Barack Obama, which has championed the loans as a way to create “green energy” jobs.
Beacon Power drew down $39 million of its government-guaranteed loan to fund a portion of a $69 million, 20-megawatt flywheel energy storage plant in Stephentown, New York.
There are several key differences between the two loans, an Energy Department spokesman said on Sunday, noting the Beacon plant continues to operate, unlike Solyndra, which shut down shortly before filing for bankruptcy.
The Energy Department also had agreed to restructure Solyndra’s debt in a last-ditch effort to keep the company alive, a deal which put taxpayers behind $75 million in private investment. But for the Beacon project, the government loan is the first debt the company must pay, the spokesman said.
But the new bankruptcy will stoke criticism from Republicans in the House of Representatives who are investigating whether Obama campaign donors who were investors in Solyndra played a role in decisions on the loan — allegations denied by the White House and Department of Energy (DOE).
“This latest failure is a sharp reminder that DOE has fallen well short of delivering the stimulus jobs that were promised, and now taxpayers find themselves millions of more dollars in the hole,” said Cliff Stearns, a Florida Republican who is leading the House Energy and Commerce Committee’s probe.
10.29.2011
GOP vs. Tea Party Presidential Split Edition
The above comes from an interesting and persuasive Ronald Brownstein piece in the National Journal, explaining the volatility in the GOP race as a function of Tea Party Republicans searching for Anybody But Mitt. Excerpt:
In the twelve national CNN/ORC surveys about the race conducted since January four different candidates have held or shared the national lead: ex-Arkansas Gov. Mike Huckabee and businessman Donald Trump (neither of whom actually entered the race), Romney and Texas Gov. Rick Perry. Other national polls this year have recorded leads for former Alaska Gov. Sarah Palin and more recently businessman Herman Cain.
That's an extraordinary level of volatility: not since Barry Goldwater's insurgent win in 1964 have so many Republican candidates held a lead in national surveys before the first votes were cast. But a closer look at the CNN/ORC numbers suggests that the Republican race is settling down along one track, while still rapidly oscillating on the other.
VP Biden: Repubicans Are Standing in Way of Change – “It’s Time to Fight Back!”
The Orlando Sentinel reported:
Vice President Joe Biden turned a dinner speech to Florida Democrats at Walt Disney World into a pep rally Friday night, blasting Republicans as obstructionists with whom he said the administration can no longer work.
Biden knocked Republicans for blocking President Obama’s American Jobs Act, for “playing roulette” with the federal deficit ceiling and standing in the way of other Obama initiatives, from Wall Street reform to health-care reform to the end of the Iraq occupation.
10.19.2011
Obama: Taxpayer-Funded Bus ‘Decked Out Pretty Good’
When your wife spends $10 million in public funds on a vacation, aren't you entitled to a sweet ride on the taxpayers dime?
President Barack Obama boasted about his taxpayer-funded bus during a stop in Jamestown, N.C. on Tuesday as part of the three-day American Jobs Act tour that some critics say resembles a campaign tour.10.17.2011
Obama's First 1,000 Days Marked By Federal Spending Spree, More Unemployment
New data shows that after 1,000 days under President Obama's leadership America has witnessed hikes in poverty, foreclosures, joblessness and debt. The president has a little over a year to convince Americans that he is turning the country in the right direction.... but at the moment we're headed straight for the iceberg.
As reported by FoxNews:
According to data from the Office of Management and Budget and Congressional Budget Office, the United States has added more than $4 trillion in public debt since Obama took office, and the federal government has spent $6.6 million a minute during that time.
But the economy is still behind the eight ball: the jobless rate averaged 9.4 percent between Jan. 20, 2009, and Sept. 30, 2011, and nearly 3 million more Americans are in poverty compared with when Obama took office.
As of Oct. 17, here is a snapshot of what's different, compared with Jan. 20, 2009:
-- The U.S. debt increased by an average of $4.2 billion per day. The total rise in that time breaks down to more than $13,000 in additional debt for every single American.
-- The government has spent more than $9.6 trillion, about 60 percent more than what Washington took in.
-- The country racked up as much debt in the last 1,000 days as it did in the first 79,135 days. (That's from 1776 to 1993.)
-- In the last 1,000 days, America spent $1.2 trillion in interest on the debt. By itself, that would represent the world's 15th largest economy.
-- On the economic front, 2.22 million jobs have been lost.
-- More than 2.4 million homes were repossessed for failure to pay mortgages.
-- The unemployed are staying out of work longer -- on average about 40.5 weeks, more than double the typical bout of joblessness in January 2009.
-- The jobless rate has been at or above 9 percent for 840 of the last 1,000 days.
-- Thirty-seven states have higher unemployment rates.
-- Washington has spent almost $380 billion on federal unemployment benefits.
-- Since January 2009, 7,076 new final regulatory rules were issued.
-- About 12 million more Americans are on food stamps.
-- Gas prices are up by more than 80 percent. The price-per-gallon has exceeded $3 every day in 2011.
The bottom line is simple: Bigger government has not put America on a stronger fiscal path, it hasn’t created jobs, and it hasn’t built a stronger economy.
10.13.2011
BRILLIANT! Remy's Occupy Wall Street Protest Song (Video)
As the Occupy Wall Street movement spreads like a, well, financial contagion through global markets, intergalactic Internet sensation Remy and Reason.tv give the movement its anthem.
10.06.2011
Sarah Palin on Yesterday's Decision: “You Don’t Need a Title to Help Bring This Country Back” (Video)
Sarah Palin joined Greta Van Susteren last night to explain her decision to not run for President of the United States. The conservative governor told Greta, “I can be more effective in a decisive role to get others elected” including a Republican President, Republican Senators and Republican members of the US House of Representatives. Sarah said she knows beyond a shadow of a doubt that it was the right decision.
“You don’t need a title to help bring this country back.”
9.29.2011
California Teacher Bans “Bless You” From Classroom (Video)
And here we go again... First it was Happy Meals, now a California teacher is banning “bless you” from his classroom. He says it’s disruptive and he’s docking students who say it after someone sneezes.
A California teacher has banned students from saying “bless you” when someone sneezes in his class.Health teacher Steve Cuckovick says it has nothing to do with religious beliefs, he claims it becomes a disruption in class and is serious about enforcing it.
He deducts 25 points from student’s grades every time someone breaks the “bless you” ban.
“The blessing doesn’t make any sense anymore. When you sneeze, in the old days, they thought you were dispelling evil spirits out of your body. So, they are saying god bless you for getting rid of the evil spirits. But today, what I said is what your doing doesn’t make any sense anymore,” said Cuckovick.
9.26.2011
GALLUP: Half think govt 'immediate threat to rights and freedoms'...
According to the latest GALLUP poll, a record-high 81% of Americans are dissatisfied with the way the country is being governed, adding to negativity that has been building over the past 10 years.
The findings are from Gallup's annual Governance survey, updated Sept. 8-11, 2011.
Key Findings:
- 82% of Americans disapprove of the way Congress is handling its job.
- 69% say they have little or no confidence in the legislative branch of government, an all-time high and up from 63% in 2010.
- 57% have little or no confidence in the federal government to solve domestic problems, exceeding the previous high of 53% recorded in 2010 and well exceeding the 43% who have little or no confidence in the government to solve international problems.
- 53% have little or no confidence in the men and women who seek or hold elected office.
- Americans believe, on average, that the federal government wastes 51 cents of every tax dollar, similar to a year ago, but up significantly from 46 cents a decade ago and from an average 43 cents three decades ago.
- 49% of Americans believe the federal government has become so large and powerful that it poses an immediate threat to the rights and freedoms of ordinary citizens. In 2003, less than a third (30%) believed this.
9.20.2011
Obama’s New “Jobs” Plan: $3 In Tax Hikes For Every $1 In Spending Cuts (Video)
President Obama on Monday proposed a deficit reduction plan that calls for about $3 in new tax increases for every dollar in additional spending cuts as he seeks to put his imprint on the ongoing talks with Congress over reducing the government’s staggering debt.
President Obama’s idea for a millionaire tax is hardly new. It’s a favorite idea in cash-strapped Democratic states like Maryland and New York and some version of it has been part of Obama’s economic agenda since his candidacy.
Obama is doing something different today, though, as he proposes a 4.5 percent surtax on those with incomes over $1 million in addition to his plan to raise taxes on individual incomes over $200,000 and reduce charitable deduction rates for high earners.
Obama's insistence that his new plan isn't class warfare only reminds us of the infamous line "methinks thou dost protest too much." Yet putting that point aside, one question remains: Even if Obama taxed ALL AMERICANS at a higher rate, would the revenue satiate the governments hunger for spending?
To find out let's partake in a little thought experiment. We will take a trip in a liberal dream world of total wealth confiscation, where for one year, politicians confiscate profits from major corporations, professional athletes, Hollywood, and the like—all in the name of paying for their big spending ways. Would it be enough? Watch the following Firewall video to find out.
This year, Congress will spend $3.7 trillion dollars. That turns out to be about $10 billion per day. Can we prey upon the rich to cough up enough money to feed Government's spending habbit?
Simply put, no amount of taxation would be enough to foot the bill for the level of spending the President wants.
9.16.2011
Dems Slam Pres. Obama for Going 'AWOL' on Mortgage Crisis
"The administration has been AWOL on this issue," charged Rep. Dennis Cardoza (D-Calif.), "and the American people are suffering because of the mismanagement."
"In my entire political career, I've never seen anything this irresponsible," he added.
Read the full story at The Hill








