Archive for February, 2009

No Confidence In Obama: Market Loses 9.7% Since Plan Announced

February 19, 2009

We can add another 131 points from today’s market plunge  (as of Noon Eastern time) to the 800 points and 9.7% of the market lost since Messiah Obama announced his “salvation” plan.

The day after Obama was elected, the market demonstrated its lack of confidence in his leadership by taking the biggest plunge any new president ever received:

NEW YORK, Nov 5 (Reuters) - Wall Street hardly delivered a
rousing welcome to President-elect Barack Obama on Wednesday,
dropping by the largest margin on record for a day following a U.S.
presidential contest.

It was a harbinger of things to come.  And the distrust of Obama has continued to undermine the economy.

And the trend continues to hurt the economy and the American people:

No Confidence: Dow Closes At Six-Year Low

Wall Street Drops 800 Points on Heels of Obama’s Plan to Save Economy

By DAVID MUIR

Feb. 19, 2009—

President Obama has said that turning the economy around will not be easy, or quick — and it appears Wall Street agrees. The Dow Jones Industrial Average lost nearly 90 points today and 800 points, or 9.7 percent, in the 10 days since the Obama administration announced major reforms to stimulate the economy, keep banks afloat and save millions of homeowners from foreclosure.

But since the banking reforms were unveiled Feb. 10, the Dow has reached a new bear market low — the lowest since Oct. 9, 2002.

The series of announcements began last week as Treasury Secretary Geithner announced major reform to the banking system, infusing up to $2 trillion to rescue the nation’s banks.

And, in Denver Tuesday, Obama signed the $787 billion stimulus plan into law, calling the legislation “the most sweeping economic recovery package in our history.”

“Today does not mark the end of our economic troubles,” Obama said at the Denver Museum of Nature and Science. “Nor does it constitute all of what we must do to turn our economy around. But it does mark the beginning of the end — the beginning of what we need to … set our economy on a firmer foundation, paving the way to long-term growth and prosperity.”

Pushing ahead, the president unveiled a $275 billion mortgage rescue plan Wednesday designed to help up to 9 million homeowners stay in their homes and at least 3 million to avoid foreclosure.

Economists say that investors’ message to the Obama administration was clear.

Investors are not convinced that these programs are going to work, that they’re going to be enough,” said Alan Skrainka, chief investment strategist at Edward Jones. “In the meantime, the news in the economy has been very bad and they just don’t see the light at the end of the tunnel.”

Many investors are particularly worried about the so-called banking “stress tests,” which is part of the Obama administration’s plans to dive into the banks’ books and see if they’re worthy of major infusions of taxpayer money.

Bad Assets on Books Concern Investors

Many economists believe investors are concerned about what the Treasury will find.

“Many of these banks are holding on to … assets that are very damaged,” said Andrew Caplin, professor of economics at New York University. “If they were to really value the assets on their books, they could be declared insolvent.”

Investors today traded on those fears. Bank of America closed at $3.93 a share, down from $42.67 last year. Citigroup proved dismal, closing at $2.51 — down from $25.32 and reaching its lowest value in its history. American Express closed at $12.87, down from $44.55, reaching its lowest close since 1971.

At a panel discussion on the state of the financial crisis in New York, Wall Street titans J.C. Flowers, Hank Greenberg and Peter Peterson were bluntly asked how the economy spiraled into this mess. Peterson pointed to Wall Street managers.

“The corporate managers who took ‘extraordinary risks’ by leveraging companies too highly” are to blame, said Peterson, the co-founder of private equity investment giant Blackstone Group.

And it appears that leveraging at the banks is now what has investors most worried.

One quote is particularly relevant: “Investors are not convinced that these programs are going to work, that they’re going to be enough.”

Liberals instinctively would interpret “that they’re going to be enough” as a call for MORE government spending and BIGGER government programs.  They’re wrong.

Let’s say I have a broken toe.  And the doctor operates.  But he operates on my entire body EXCEPT the toe.  Now, I had an awful lot of expensive major surgery, but none of it did me one whit of good.  Because none of it addressed the problem that needed to be resolved.  And that’s the way the Obama “stimulus” has been.

Out of the mouths of babes, the Drudge Report has this account of high school students analysis of Obama’s program:

Senior Syna Daudfar took some notes during the speech and was among the most vocally opposed to Obama’s words.

At one point, when he talked about the costs of his stimulus plan, senior Maaike Albach and Daudfar looked at each other and said, “uh-oh.”

“Overall I think it’s a good idea, but he’s not addressing the issues of the economic crisis,” said Daudfar, a John McCain supporter who added he leans more toward being a moderate conservative. “The spending bill he just passed is just progressing the Democratic agenda rather than addressing the economic issues in the country.”

Daudfar thinks Obama’s plan is backward and deals with the “less important stuff” first. “Bailing out businesses” and “providing better regulatory systems for giving out money to businesses” should have been first, he said.

“If businesses can’t afford to hire people, then people won’t be able to work and pay off their mortgages,” he said. “It’s kind of like putting money into20a funnel.” Albach, who is also a Republican, said Obama’s plan sounds good but questioned how Obama can want to rely on “people’s responsibility” when that is “what got us in this economic crisis in the first place.”

“This puts us more into debt,” said Albach, 18. “It’s a horrible situation we’re in.”

Other students said this:

“Even though I don’t support him, I think it’s cool he’s here,” said Miller, 18. “I just don’t believe all the things he’s telling us. His goal is just too big and broad.”

Miller wanted to hear more about the costs and guidelines the stimulus bill entails.

Senior Katelyn Meyer, who also leans more toward being a Republican, said Obama’s plan sounds good, “but it’s easier said than done.”

“I like the refinancing part, and I like the part about mortgages, but I’m afraid we’re going to put the money in but won’t s ee any effect,” said Meyer, 18, who still thought it was “cool” to say the president was at her school, even though she didn’t get to see him live.

Quite frankly, these kids hit the head on the nail far better than most of the pontificating talking heads on television.

Obama’s “stimulus” is largely a giant accumulation of liberal social spending programs that have little to do with the creation of jobs.  And it will cost FAR more than Democrats or most journalists have let on: not $787 billion, but $3.27 TRILLION.

Why didn’t Obama pursue a bill that dealt with the housing market or the financial market?  The short answer is he didn’t want to.  Rather, he fearmongered the country into supporting a bill that didn’t touch the actual issues affecting the economy as the urgent solution to the country’s needs.

Had he passed legislation dealing with the actual economic issues, there would have been very little public interest in “Porkulus.”

Too bad those children were wiser than many of their parents.

From Blago to Burris to ‘Bama: Illinois Democrats Are Dirtbags

February 19, 2009

Since Americans gave Barry Hussein Obama the rare opportunity to totally destroy the country from within by imposing ruinous socialist policies we’ve been given a wonderful opportunity to see what a cesspool of toxic slime Illinois and Chicago are for producing corrupt Democrats.

Burris tried to raise funds for Blagojevich

SPRINGFIELD, Ill. – U.S. Sen. Roland Burris now acknowledges attempting to raise money for ousted Gov. Rod Blagojevich — an explosive twist in his ever-changing story on how he landed a coveted Senate appointment from the man accused of trying to sell the seat.

Burris made the admission to reporters on Monday, after releasing an affidavit over the weekend saying he had more contact with Blagojevich aides about the Senate seat than he had described under oath to the state House panel that recommended Blagojevich’s impeachment. The Democrat also said in the affidavit, but not before the panel, that the governor’s brother asked him for fundraising help.

Though Burris insists he never raised money for Blagojevich while the governor was considering whom to appoint to the seat President Barack Obama vacated, the revelation that he had attempted to do so is likely to increase calls for Burris’ resignation and an investigation into whether he committed perjury before the panel. Illinois Democrats have forwarded documents related to Burris’ testimony to a county prosecutor for review.

What we’re finding out – like we shouldn’t have always just known – is that a lying weasel governor appointed a lying weasel Senator to replace another lying weasel Senator.

It’s in the water in Chicago.  It’s the machine.

Blago is gone – so miserable and corrupt and vile that even his own Democrats couldn’t stand the sight of him any more.  And Burris is likely going to go (although considering that Democrats refused to throw out a corrupt slimeball who kept $90,000 of bribe money in his freezer, anything’s possible).  So let me turn my attention on the king cockroach: Barry Hussein Obama.

Remember Joe the Plumber’s, “That sounds like socialism”? And remember pro-Barry Democrats’ denials of the charge by claiming rigorous technical standards for the definition of  “socialism” that bordered on “It depends on what the meaning of the word ‘is’ is”?  And now here we are, just one month into his presidency, and Newseek is joyfully trumpeting, “We Are All Socialists Now!

It took less than one month for Barry Hussein to show America what a giant lying sack of pork-ulus he truly is.

We told you so.  Hot damn, did Republicans and conservatives ever try to warn you total fools of the disaster and doom you were voting for.

I could have told you so the moment we found out that Barry Hussein spent 23 years in an racist, anti-American church.

We bombed Hiroshima, we bombed Nagasaki, and we nuked far more than the thousands in New York and the Pentagon, and we never batted an eye.”

“We have supported state terrorism against the Palestinians and black South Africans, and now we are indignant because the stuff we have done overseas is now brought right back to our own front yards. America’s chickens are coming home to roost.” (Sep 2001)

“The government gives them the drugs, builds bigger prisons, passes a three-strike law and then wants us to sing ‘God Bless America.’ No, no, no, God damn America, that’s in the Bible for killing innocent people. God damn America for treating our citizens as less than human. God damn America for as long as she acts like she is God and she is supreme.” (2003)

“In the 21st century, white America got a wake-up call after 9/11/01. White America and the western world came to realize that people of color had not gone away, faded into the woodwork or just ‘disappeared’ as the Great White West kept on its merry way of ignoring black concerns.” (magazine article)

“Racism is how this country was founded and how this country is still run!…We [in the U.S.] believe in white supremacy and black inferiority and believe it more than we believe in God.” (sermon)

“Barack knows what it means living in a country and a culture that is controlled by rich white people. Hillary would never know that. Hillary ain’t never been called a nigger. Hillary has never had a people defined as a non-person.”

“Hillary is married to Bill, and Bill has been good to us. No he ain’t! Bill did us, just like he did Monica Lewinsky. He was riding dirty.” (sermon)

“The Israelis have illegally occupied Palestinian territories for over 40 years now. Divestment has now hit the table again as a strategy to wake the business community and wake up Americans concerning the injustice and the racism under which the Palestinians have lived because of Zionism.”

“It is this world, a world where cruise ships throw away more food in a day than most residents of Port-au-Prince see in a year, where white folks’ greed runs a world in need, apartheid in one hemisphere, apathy in another hemisphere … That’s the world! On which hope sits.”

“We’ve got more black men in prison than there are in college,” he said. “Racism is alive and well. Racism is how this country was founded and how this country is still run. No black man will ever be considered for president, no matter how hard you run Jesse [Jackson] and no black woman can ever be considered for anything outside what she can give with her body.”

“America is still the No. 1 killer in the world. … We are deeply involved in the importing of drugs, the exporting of guns, and the training of professional killers. … We bombed Cambodia, Iraq and Nicaragua, killing women and children while trying to get public opinion turned against Castro and Ghadhafi. … We put (Nelson) Mandela in prison and supported apartheid the whole 27 years he was there. We believe in white supremacy and black inferiority and believe it more than we believe in God.”

“We started the AIDS virus. … We are only able to maintain our level of living by making sure that Third World people live in grinding poverty.”

“The government lied about inventing the HIV virus as a means of genocide against people of color. The government lied.”

Yeah, THAT’S the guy we want running this now God-damned country.  How “transformational.”  What “change”!

Jeremiah Wright and invited guests like Father Pfleger spewed this crap while the congregation jumped to their feet and wildly cheered.

Barry Hussein spent 23 years in that toxic cesspool of a “church.”  And people like me warned this country that no one whom we were willing to call “AMERICAN” would have spent 23 minutes in there.  We would have got up and left.  And that’s only if we didn’t walk up to the pulpit to punch the preacher in the mouth before storming out of that hell-hole.

Are we supposed to be surprised that this guy would lead us into blatant socialism and lead us down the path to a radical agenda?

This man supported infanticide in Chicago.  Should we be surprised that he would now push us into a form of socialized medicine that will result in killing the elderly?  I hope you senior citizens who voted for Obama continue to keep mindlessly cheering his name after he denies you future health care as a form of retroactive abortion for the elderly.

As Democrats begin to talk about raising gas and diesel taxes, as they begin to talk about enacting federal sales taxes, as they talk about taxing you on how much you flush your damn toilet – all to pay for the porkulus bill that will ultimately cost taxpayers $3.27 trillion – don’t say we didn’t warn you.  And, given the fact that you Democrats wanted to raise taxes on the “rich” so you could get a “tax break” for yourselves when most of you don’t even PAY federal income taxes, you damn well deserve to pay every time you flush your crap down the toilet.

As this economy continues to sink under its own massive debt while Obama continues to try to sell the myth that the bad economy has nothing to do with profound lack of confidence in him, don’t say we didn’t warn you.

We voted to bring Chicago politics to America.  And now we’re all going to get to find out what a disaster that means.

Socialism Doesn’t Work Any Better Next Time Around

February 19, 2009

There’s a story of an old cowboy, sitting in a diner and staring down intently at a bowl of chili.  A young cowboy comes in and sits next to the old-timer.  For the next 15 minutes the greenhorn impatiently watches the old cowboy looking down at the bowl of chili, until finally he can’t stand it any longer.

“If you’re not going to eat that chili, would you mind if I help myself?”  The young cowboy asks.

“Suit yourself,” the old hand says.

The young man slides the bowl to himself, and gorges on the chili like he hasn’t eaten for a week.  As he is finishing the chili, he notices that there’s a dead mouse in the bottom of the bowl.  The sight is so disgusting that he throws up into the bowl.

As the greenhorn weakly stares down into the bowl of chili, the old man speaks up.  “Yep.  “That’s exactly what I did.”

Well, the moral of the story is, “Don’t gulp down the socialism.  It’s made every nation who ate it sick, and you’ll be real sorry if you eat it too.”

Ordinarily nothing would make the China and Russia more happy than for the United States to make itself sick gorging down a vile and self-destructive economic system.  Only this time, the sicker our economy becomes, the sicker their economies will become as a result.

So unlike the old cowboy in the story, they’re actually trying to warn us not to eat the socialism.  And fat lot of good it’s doing them.

The People’s Republic of China holds $682 billion worth of US debt, and they are now very concerned about the “reckless policies of our spending.” They see a socialist-spending-addicted America not only destroying the US currency, but other currencies around the world as well.

The Chinese government contacted our tax-cheating Treasury Secretary Timothy Geithner and said:

“We want some kind of a guarantee that your money is going to be worth something if you keep spending so much over there and devalue not only your currency but the currencies throughout the world… We hate you guys.  Once you start issuing $1 trillion, $2 trillion, or more dollars, we know the dollar is going to depreciate.”

And now we are getting a similar warning from a former KGB agent.  Russian Prime Minister Vladamir Putin gave America a sobering warning:

Accessed via American Thinker:

The Right Perspective:

Russian Prime Minister Vladamir Putin has said the US should take a lesson from the pages of Russian history and not exercise “excessive intervention in economic activity and blind faith in the state’s omnipotence”.

“In the 20th century, the Soviet Union made the state’s role absolute,” Putin said during a speech at the opening ceremony of the World Economic Forum in Davos, Switzerland. “In the long run, this made the Soviet economy totally uncompetitive. This lesson cost us dearly. I am sure nobody wants to see it repeated.”

Sounding more like Barry Goldwater than the former head of the KGB, Putin said, “Nor should we turn a blind eye to the fact that the spirit of free enterprise, including the principle of personal responsibility of businesspeople, investors, and shareholders for their decisions, is being eroded in the last few months. There is no reason to believe that we can achieve better results by shifting responsibility onto the state.”

Putin also cautioned the US against using military Keynesianism to lift its economy out of recession, saying, “in the longer run, militarization won’t solve the problem but will rather quell it temporarily. What it will do is squeeze huge financial and other resources from the economy instead of finding better and wiser uses for them.” Putin’s comments come in sharp contrast to Russia’s own military buildup and expansion.

Putin also echoed the words of conservative maverick Ron Paul when he said, “we must assess the real situation and write off all hopeless debts and ‘bad’ assets. True, this will be an extremely painful and unpleasant process. Far from everyone can accept such measures, fearing for their capitalization, bonuses, or reputation. However, we would ‘conserve’ and prolong the crisis, unless we clean up our balance sheets.”

“The time for enlightenment has come. We must calmly, and without gloating, assess the root causes of this situation and try to peek into the future.”

What on earth do you even say when you discover that not only has the United States become socialist, but that in fact it has become SO socialist that a even communist and formerly communist countries are actually shocked at our massive socialist spending?”

We keep hearing about the “$787 billion stimulus bill.”  For your information, that’s disinformationThe reality is that this massive socialist spending package will probably cost $3.27 TRILLION.  When the Congressional Budget Office added the cost of the borrowing to finance this and then added the cost of those programs which are called “temporary” but which everyone KNOWS will become permanent – we get to 3.27 TRILLION DOLLARS.

“Turbo Tax Tim” Geithner said he would “commit $1.5 trillion in public and private funds, just for starters — with the possibility of more than $2 trillion — to aid banks, unfreeze consumer credit markets and stem the soaring foreclosure rate.”  The Wall Street Journal headline says it all: “New Bank Bailout Could Cost $2 Trillion.”

And we aint seen nothin’ yet.  Obama and his fellow liberals are already contemplating yet another socialist spending project power grab in the form of a “Stimulus II.”  Qando has an excellent take on The Washington Post article, “If This Stimulus Isn’t Big Enough, Could There Be a Sequel?

You’ve just witness the unimaginable – Congress passes a 789 billion dollar pork-laden spending bill disguised as a “stimulus” bill and they may be contemplating “Unimaginable II”:

Despite the enormous size of the $787 billion stimulus plan, some economists worry that it won’t make a big enough dent in unemployment and that lawmakers will have to work on another stimulus in short order — something members of Congress are loathe to discuss.

“That’s possible,” said Alice Rivlin, a former Clinton administration budget director. “I think the economy is getting worse quite rapidly and this may not prove to be enough.”

And why is that, Ms. Rivlin? Why might it not be “enough”?

The stimulus got “less stimulative,” Rivlin said, as it passed through the Senate and some of the things that offered “the biggest bang for the buck” were scaled back, such as more money for food stamps.

*Gasp*

You mean it was exactly what those mean old Republicans said it was – more relief than stimulus. More social spending than jobs? That, in fact, any stimulative part of the bill was watered down or eliminated in favor of special interest spending on programs which are either years in the future or will provide no immediate jobs with which to help get the economy moving?

You mean, despite all the rhetoric and nonsense to the contrary by Obama and the Dems, we are on the road to repeating the mistakes Japan made that brought them their “lost decade”?

No kidding?

And I doubt many would call Ms. Rivlin a right-wing reactionary economist spouting Republican talking points, would they?

So now that the Dems have fulfilled their 40 year social program spending spree, it appears they may now try to actually stimulate the economy with a few more hundred billions of your great, great, great grandchildren’s money.

More future theft.

“Son of Stimulus”, coming to a wallet near you soon?

~McQ

When White House Chief of Staff Rahm Emmanuel said:

“You never want a serious crisis to go to waste.  Things that we had postponed for too long, that were long-term, are now immediate and must be dealt with. This crisis provides the opportunity for us to do things that you could not do before.”

He meant using the economic crisis the way Hitler used the Reichstag fire – to ruthlessly ram home a socialist agenda, sweeping aside all obstacles in the way in the name of “resolving the crisis.”

I feel like someone must have felt had they watched as Germany plunged into NAZI socialism (‘NAZI’ being the acronym for ‘National Socialist German Workers’ Party’) before cheering crowds, while I alone knew what was going to happen.  These blind, unreasoning fools are going to lead us into total disaster.

We had our moment to avoid sanity.  We had our Emperor’s New Clothes moment, with the role of the innocent child being played by Joe the Plumber.  When Joe Wurzelbacher heard Obama’s economic plan and said, “That sounds like socialism,” we had our moment of clarity.  But while the crowd watching the emperor parade in his underwear realized they’d been had, the American people stood stupidly by while the media and the Democrat machine violated Joe the Plumber’s civil rights in an attempt to discredit him.

And now – after trillions of dollars’ worth of socialism and counting fast – we find ourselves in the Bizarro world where Chinese Communists and former KGB agents warn us that we are eating something that is going to make us very sick.

Obama Fiddles With Stimulus While Economy Burns

February 18, 2009

Remember how we had to get the stimulus deal done so fast that if we didn’t we’d plunge into the Great Depression and we’d all starve and die?  Remember how it had to be done so fast that Republicans weren’t allowed the 48 hours they’d been promised to read it due to the urgency?  Remember how it was so critical that the deal get done that NOT ONE SINGLE representative or senator who voted for the package actually could have even possibly read it?  Remember the 60th vote – Senator Sherrod Brown (D-Ohio) – being flown in on a special plane by the White House from his mother’s funeral so he could sign the bill and get it passed?

Obama – aka “Chicken Little” – said:

ELKHART, Ind. — President Obama, highlighting what he says is a desperate need to boost the nation’s staggering economy, told this distressed northern Indiana city on Tuesday that if Washington politicians will just stop bickering, help will be on the way for this struggling community and others across the country.

“The situation we face could not be more serious,” Obama told a town hall-style meeting at Concord High School. “We have inherited an economic crisis as deep and as dire as any since the Great Depression.”

Obama was running around saying, “The time for thought is over; the time to act is now!”  We had to rush to get this done or the sky would fall.  Which is another way of saying, he was cynically using his “bully pulpit” power to negatively impact the economy in order to sell his massive package of liberal spending projects.

The largest government spending bill in the history of the world, passed so quickly that no one read it because of the imperiling crisis, then sat on the President’s desk for four days while he used Air Force One (at massive cost to the taxpayers) to fly to Illinois so he could play basketball:

CHICAGO — President Barack Obama dropped by the University of Chicago campus Sunday for two hours of basketball with friends.

Obama, who’s spending a long weekend in his hometown, headed out Sunday to indoor basketball courts where he has played before. Aides did not say who played hoops with the president.

After the game, Obama stopped at his barber’s apartment for a quick haircut.

Obama and his family plan to return to Washington on Monday.

Remember all those auto executives who got damned to hell for flying private jets to Washington from Michigan?  The private jet manufacturers’ business took a nose dive after all the outrage displayed by Democrats at their communist show trial. Well, it’s a hell of a lot farther from Michigan to DC than it is from Chicago DC, Barry Hussein.  And none of the CEO’s jets cost anything even ridiculously close to what Air Force One does.

Obama could have signed it after it passed on the 13th after Sen. Sherrod Brown was flown in by the White House to get that essential final vote before the world ended.  He could have signed it all day Saturday, or Sunday, or Monday.  But nope – after all that outcry for all that rush-rush no-time-to-read-no-time-to-debate-no-time-to-think urgency – Obama took a nice leisurely weekend and waited for Tuesday when the TV photo-op would garner more viewers.

And, of course, Obama flew off to Denver to do what he should have done in the Capitol to sign the bill in yet another waste of Air Force One.  Tooling around in private jets?  Scold everyone but Democrat hypocrites for that.  Global warming?  That’s for us little people to undermine the quality of our lives about.

Meanwhile Nancy Pelosi jets off to Italy (personally, I’m hoping she walks into the Vatican and bursts into flames) mayhap to lecture the pope on what real Catholics think about abortion.  Unfortunately for her, American Catholic bishops believe she’s the whore of Babylon.

It is fitting that the stock market dropped into the crapper while Obama leisurely stretched out his legs on Air Force One in Denver.   The DOW dropped 298 points to close at 7,552.60.

In all likelihood, this supposedly $787 billion porkulus mess will actually end up costing us $3.27 TRILLION.  It was passed on the fear-mongering that we had to act right away to prevent the worst disaster in world history, but that was nothing but a ruse to keep the American people from realizing what a giant trainload of pig crap this bill was.

And after all that panic and rush, President Barry Hussein shows us what a deceitful and hypocritical deception all his fear-mongering was by waiting four days to sign it.

Save us from the Great Depression?  How about CAUSE the Great Depression (see also here and here and here).

Leeches And Vandals As Liberalism’s Economic Heroes

February 17, 2009

We’ve been hearing different pieces of the Democrats’ philosophy on economics.

From President Barack Obama:

So then you get the argument [from Republicans], well, this is not a stimulus bill, this is a spending bill. What do you think a stimulus is? (Laughter and applause.) That’s the whole point. No, seriously. (Laughter.) That’s the point.
(Applause.)

Then, a statement from the third-in-line to the presidency, Speaker of the House Nancy Pelosi:

Speaker of the House Nancy Pelosi boldly defended a move to add birth control funding to the new economic “stimulus” package, claiming “contraception will reduce costs to the states and to the federal government.”

Pelosi, the mother of 5 children and 6 grandchildren, who once said, “Nothing in my life will ever, ever compare to being a mom,” seemed to imply babies are somehow a burden on the treasury.

The revelation came during an exchange Sunday morning on ABC’s THIS WEEK.

STEPHANOPOULOS: Hundreds of millions of dollars to expand family planning services. How is that stimulus?

PELOSI: Well, the family planning services reduce cost. They reduce cost. The states are in terrible fiscal budget crises now and part of what we do for children’s health, education and some of those elements are to help the states meet their financial needs. One of those – one of the initiatives you mentioned, the contraception, will reduce costs to the states and to the federal government.

Mind you, this same House Speaker who wants to see a lot fewer babies wants a “$30 million slice of cheese” so she can see a lot more salt marsh harvest field mice in her district.  Baby humans are terribly bad, baby mice are wonderfully good.  But the most important thing is that we spend lots of government money preventing and killing the former while promoting and protecting the latter.

Finally, a statement from Senator and Chairman of the Joint Economic Committee Charles Schumer:

“And let me say this, to all of the chattering class, that so much focuses on those little, tiny — yes, porky — amendments: The American people really don’t care.”

So, let’s refresh our understanding.  From the Democrats’ point of view, government spending – ANY government spending, social spending, including pork spending – is “stimulus.”

Every dollar the government spends, Obama believes, actually has a 1.5 “multiplier effect” on the private sector economy:

To think about what this means, first assume that the multiplier was 1.0. In this case, an increase by one unit in government purchases and, thereby, in the aggregate demand for goods would lead to an increase by one unit in real gross domestic product (GDP). Thus, the added public goods are essentially free to society. If the government buys another airplane or bridge, the economy’s total output expands by enough to create the airplane or bridge without requiring a cut in anyone’s consumption or investment.

The explanation for this magic is that idle resources — unemployed labor and capital — are put to work to produce the added goods and services.

If the multiplier is greater than 1.0, as is apparently assumed by Team Obama, the process is even more wonderful. In this case, real GDP rises by more than the increase in government purchases. Thus, in addition to the free airplane or bridge, we also have more goods and services left over to raise private consumption or investment. In this scenario, the added government spending is a good idea even if the bridge goes to nowhere, or if public employees are just filling useless holes. Of course, if this mechanism is genuine, one might ask why the government should stop with only $1 trillion of added purchases.

It occurs to me that with this kind of attitude, the real heroes of liberal economic theory really ought to include leeches and vandals.

I’m a disabled veteran who is service-connected for two messed-up knees.  For most of my life, I have – stupidly, it turns out – always thought of the Veterans Administration’s resources as being scarce and valuable.  Thus, I didn’t want to apply for mileage – even though I live 120 miles round-trip away from the nearest VA hospital, and was “entitled.”  I didn’t want to get expensive new custom knee braces unless I really needed them.  In short, I wanted to consume as few resources as necessary so that the VA could have more resources to treat other veterans.  On my unenlightened and ignorant view, people who consumed government resources were leeches who sucked up the resources produced by others.  By not consuming what others provided, I was contributing to the system rather than draining it.

As Bugs Bunny would say, “What a maroon!”

I now realize that the person I thought of as a leech is actually the liberal economic hero.  What is a leech?  A leech is a parasite that draws its sustenance from sucking off the energies of other creatures.  But the new liberal argument is that the more these people consume in government resources, the better it is for the economy.  I shouldn’t be limiting my consumption of government resources; I should be increasing it.  Not only should I have been accepting that VA mileage reimbursement, but I should have gone that extra step further and used the VA’s transportation service so the government could pay taxi rates to drive me 120 miles.  It’s for the economy, stupid!  And rather than keep the same old knee braces year after year, I should get new ones made at a cost of about $2000 each every couple years.  Think how many jobs I’m creating!

That’s exactly the logic Barack Obama applies with replacing the federal car fleet:

Then there’s the argument, well, this is full of pet projects. When was the last time that we saw a bill of this magnitude move out with no earmarks in it? Not one. (Applause.) And when you start asking, well, what is it exactly that is such a problem that you’re seeing, where’s all this waste and spending? Well, you know, you want to replace the federal fleet with hybrid cars. Well, why wouldn’t we want to do that? (Laughter.) That creates jobs for people who make those cars. It saves the federal government energy. It saves the taxpayers energy. (Applause.)

Let’s replace our federal car fleet with a politically-correct one.  Doing so will create jobs.  The more still-perfectly-good federal cars we replace, the more jobs we create.

By leeching off the government dole, I am actually an economic hero, keeping other people working (so I don’t have to!).  The more resources I consume, the more jobs I create.  Shouldn’t I get some kind of medal for that?  Call it “the Congressional Medal of Porker.”

Thank God Barack Obama ended that awful welfare reform that put people back to work.  We need more lazy unemployed bums and bon-bon-eating couch potatoes to build up our economy.  These welfare recipients aren’t burdens on society; they’re “economic multipliers.”  Every self-respecting liberal economic theorist understands that.

But it is not just the leech who helps build up our economy.  No.  We also need to turn in gratitude to our vandals who also help increase our government’s spending and by extension build our economy.  By using their tools of the trade – the BB gun, the slingshot, the M-80, the spray can, the baseball bat – vandals can create all kinds of demand for more spending.  Every shattered government window, every defaced government wall, every pelleted government sign, creates more government spending and produces more jobs.

And it’s not just the government jobs of repairing the damage to government property that are created; vandals create a need for more law enforcement jobs, too.  If there weren’t any crime, after all, police would be out of their jobs.  Just listen to Barney Frank:

Frank, chairman of the House Financial Services Committee, said cutting aid to the states could lead to layoffs of police officers, firefighters, teachers and other public sector employees.

“That’s the wasteful spending my (Republican) colleagues are talking about,” Frank said of state bailout money. “If you keep cops and firefighters from being laid off, you’re improving the quality of life.”

So let’s take our hats off to all the hooligans and rioters, and apologize for the harsh things we said about them before the enlightened understanding of liberalism reshaped our thinking about economics.

You think I’m kidding?  You think that liberals can’t really think this way?  Think again; they actually believe this.  Most liberals would obviously never agree that “leeches” and “vandals” “stimulate” the economy, but that is only because they refuse to be consistent in their application of their economic ideas.  Leeches and vandals are unofficial government agents stimulating the need for more government spending, and thus helping to build the economy.

The bottom line is that these people are not only wrong in claiming that government spending stimulates the nation to a better economy, but immoral.  They are wrong because their philosophy doesn’t work, either in theory or in practice:

Keynesian theory sounds good, and it would be nice if it made sense, but it has a rather glaring logical fallacy. It overlooks the fact that, in the real world, government can’t inject money into the economy without first taking money out of the economy. Put more bluntly, Keynesianism only looks at one-half of the equation. It conveniently ignores the fact that any money that the government puts in the economy’s right pocket is money that is first removed from the economy’s left pocket. As such, there is no increase in what Keynesians refer to as aggregate demand. The bottom line is that Keynesianism doesn’t boost national income, it merely redistributes it.

They are immoral because their economic theories result in moral hazard, where “an individual or institution does not bear the full consequences of its actions, and therefore has a tendency to act less carefully than it otherwise would, leaving another party to bear some responsibility for the consequences of those actions.”  At the macro level, companies that stupidly ran their businesses into the ground and banks that took hideous, ridiculous risks are given billions of dollars.  In a departure from capitalism, they are deemed “too big to fail,” just like the giant socialist government that is propping them up.  At the individual level, the man who took out a second mortgage on his house so he could finance an extravagant lifestyle, or a couple who should have known that they could not possibly afford to buy a particular home, are lifted off the hook by the “graciousness” of government.  And all the hard-working people who lived by the rules and stayed within their means are in turn put on the hook for their debts.

They are immoral because again and again they reward bad and unproductive behavior with their policies.

They are immoral because they seek to impose the perverted and dysfunctional ideology of socialism onto a nation whose very foundations utterly oppose such an ideology.  As Thomas Fleming put it, “Even the socialists who have avoided mass violence have produced societies ‘run by meddlesome do-gooders whose interventions in the free market and in private life have produced dullness, sterility, and dependency.'”

Fleming adds the caveat “even the socialists who have avoided mass violence” because, contrary to liberals’, socialism has been the perpetrator of the worst violence in human history.  “NAZI” was an acronym for “National Socialist German Workers’ Party” (let’s paraphrase that: what political party does “National Socialist American Workers’ Party” sound like?  Republican or Democrat?).  The USSR was an acronym for “Union of Soviet Socialist Republics.”

And of course, it was the USSR – and only the USSR – which demanded “the separation of church and state” which the left has been trying to impose on America ever since it worked so well for the Communists.  And when God and His objective morality was pulled out of communism, the state filled the void and became God, and when there was no higher authority than the state, everything the state did became “right.”  The result was more than 100 million people murdered under communism even during peacetime.

Insanity has been defined as doing the same thing over and over again and expecting different results.

They are immoral because their massive and incredibly wasteful spending will bankrupt the country and leave our children in ruin.

Obviously, my using government “leeches” and property-destroying “vandals” as “liberal economic heroes” stretches the truth to some extent.  But my point is that it doesn’t really stretch it very far.  The idea that government spending for the sake of spending is “stimulative” is simply self-referentially absurd.  It is fundamentally opposed to all wisdom and all common sense.  And yet here we are, embracing a failed philosophy.

This Stimulus bill is just pork in new disguise.  And the reality is that we have over a trillion dollars worth of pork bundled into hundreds of wasteful packages of a few billion here, and several hundred million over there – and all of it collectively championed by Democrats as “essential” to our very survival.

And the Democrats aren’t telling the truth about any of it – even how much it’s actually going to cost.

George Will, appearing on ABC’s “This Week” on February 15, said:

Do the arithmetic here. It’s said to be $787 billion, which if that were the only cost of this would be 9% of GDP. But then if you add in two other things – the cost of the borrowing to finance this – over a reasonable time horizon – and you add the cost of those programs which are called “temporary” but which we KNOW will become permanent – it’s about $2.3 trillion.  Therefore Tom Cole, the Congressman from Oklahoma, had it about right when he said, “Never before have so few spent so much so quickly for such little effect.”

And the Congressional Budget Office discovered that by “permanently extending the 20 most popular provisions of the stimulus bill” – which is highly likely, considering that bureaucracies and spending programs tend to never die once created – the cost of the euphemistically-named American Recovery and Reinvestment Act will actually cost 3.27 TRILLION DOLLARS.

And these dollar figures representing the real cost of this “porkulus” – as shockingly high as they are – don’t even begin to address the REAL causes for our financial crisis.  Because this massive social spending program doesn’t address the mortgage and banking crises which are creating the bad economy.

The next bank bailout which will immediately follow the hundreds of billions (actually trillions) we’ve just voted for could itself cost as much as $2 trillion, The Wall Street Journal is reporting.

We have clearly entered a Bizarro world.  And in this insane and upside-down Bizarro world, it might actually make sense that leeches and vandals should be deemed economic heroes.

Thirty Years Later, a Return to Stagflation by Paul D. Ryan

February 16, 2009

Thirty Years Later, a Return to Stagflation

February 14, 2009
New York Times, Op-Ed Contributor

CONGRESS has made a terrible mistake. Amid a rhetorical debate centered on words like “crisis,” “emergency” and “catastrophe,” it acted too fast. While arguments were made about the stimulus bill’s specific components — taxpayer money for condoms, new green cars and golf carts for federal bureaucrats, another round of rebate checks — its more dangerous consequences were overlooked. And now the package threatens a return to the kind of stagflation last seen in the 1970s.

To get a sense of the pressures ahead, we must first assess our fiscal health. We started this year with a projected trillion-dollar budget deficit for the 2009 fiscal year. In 2008, we spent $451 billion just to pay the interest on our debt.

With the stimulus bill now becoming law, we’re digging even deeper into debt. The headline price tag of $787 billion doesn’t include the extra $348 billion it will take to finance the new debt, or what it will cost when Congress extends the spending programs in the bill, as is likely — as much as $2 trillion more. Add in the billions that are being used to prop up the financial system, and when the dust settles on 2009, with millions of baby boomers retiring and entitlement spending exploding, taxpayers will face a financial nightmare.

From a global perspective, the picture only looks worse. As we have debated how much money to borrow and spend in hopes of jump-starting our economy, we’ve ignored the worldwide stimulus binge. China, Europe and Japan are all spending hundreds of billions of dollars they don’t have in hopes of speeding up their economies, too. That means the very countries we have relied on to buy our bonds, notably China and Japan, are now putting their own bonds on the global credit markets.

American Treasury bonds have been selling briskly on the global credit markets because they have been the calm in the storm of the global credit crisis. This has allowed advocates of borrow-and-spend to argue that for the United States, borrowing is uniquely cheap. But what happens when there is an excess supply of bonds on the worldwide markets? The cost of borrowing will rise. Today we fear deflation, but eventually our fears will turn to inflation.

It seems that no one in Washington is discussing what happens when the world begins this gargantuan borrowing spree. How high will interest rates rise? And more fundamentally, who will have the money to buy our bonds? It is possible that the Federal Reserve will succumb to pressure to “monetize” our debt — that is, print new money to buy our bonds. In fact, the Fed is already suggesting that it will buy long-term Treasury securities in order to lower borrowing costs. If it does, then our money supply, which has already increased substantially over the past year, will grow even faster.

As Milton Friedman noted, “Inflation is always and everywhere a monetary phenomenon.” It is a situation in which too few goods are being chased by too much money.

To American families, inflation is a destroyer of savings, a killer of wealth, a crusher of confidence. It calls into question the value of our money. And while we all share in the pain, the people whom inflation hits hardest are elderly people who live on fixed incomes, those in the middle class who are struggling to save for retirement and college and lower-income people who live paycheck to paycheck.

Combine high inflation and high unemployment and you have stagflation. Hindsight shows how the pain of the late 1970s and early 1980s could have been avoided, yet we’re now again planning to borrow and spend — and raise taxes — as President Jimmy Carter did. Soon we may again find ourselves watching a rising “misery index” of inflation and unemployment together. If that happens, individual earning power will evaporate, and our standard of living will decline.

To prevent stagflation, we should enact fiscal policy reforms that apply the lessons we learned from the 1970s. Keynesian stimuli based on borrowing and spending have not worked and will not work. One-time rebate checks do not increase the incentive to expand business operations and create jobs. But marginal cuts in tax rates do. We also must lower our job-killing corporate income tax rate, the highest in the industrialized world after Japan, and ease business worries by making it clear that there will be no tax increases in 2010.

We should also re-establish the sound dollar. For the past decade, the Federal Reserve has manipulated interest rates and vastly over-expanded the money supply — and in so doing fueled the housing bubble that precipitated our current crisis. To end uncertainty about the economy, to keep interest rates down, and to give Americans the confidence they need to take risks and ensure future growth, we should make price stability a priority, guaranteeing the value of the dollar.

Finally, we should tackle the entitlement crisis, which will be a $56 trillion liability that we have not figured out how to pay for. As members of the baby boom generation retire, and health care costs continue to spiral out of control, Social Security, Medicare and Medicaid will collapse. By reforming those programs and bringing their costs down to sustainable levels, we will show the world and the credit markets we are serious about reducing our debt. Then our credit will improve, the cost of necessary borrowing will drop, and we can stave off stagflation.

Paul D. Ryan is a Republican representative from Wisconsin.

Obama’s Socialist Census Power Grab

February 16, 2009

This story isn’t getting nearly as much attention as it should. After nominating Republican Senator Judd Gregg as Commerce Secretary, the Obama administration announced it was taking the census away from Commerce and taking over the job of counting the American people.

This should scare you, because it is a clear abuse of power.

Martha Zoller of Human Events summarized it this way:

The preservation and expansion of the Democrat majority is the only reason the Obama Administration is exercising its power and taking over the Census. Last week, without much fanfare, The White House moved control of the Census from the Commerce Department to the Executive Branch. The Democrats want to use “sampling” to add to the counts in urban areas homeless people and minorities that they believe will be under counted. The Supreme Court shot down the idea of “sampling” in the last Census, but the Obama Administration is going to tee it up again and see if it flies.

In the last Census, congressional seats moved from states that were losing population in the North and Northeast, to states that were gaining population in the South, Southwest and Mountain regions of America. That is a loss of power from generally Democrat strongholds to more likely Republican areas. That population trend is expected to continue which means more seats out of Blue States into Red States.

That’s why before the ink was even dry on the announcement of Sen. Judd Gregg (R-NH) as Commerce Secretary, the Congressional Black Caucus and Latino groups were complaining that a Republican could not be in control of the census. Instead of supporting Gregg and letting the confirmation process vet this issue, the White House immediately caved and gave the power of oversight of the Census to the White House and indicated that Chief of Staff Rahm Emanuel would be in charge.

The problem – as US News’ Michael Barone pointed out – is that this agenda is blatantly unconstitutional:

Here’s an argument that it’s unconstitutional for the president to take over the Census from the secretary of commerce. It goes like this: Article I, Section 2 of the Constitution provides for an “actual enumeration” and a statute passed by Congress provides that the duties under this clause are to be performed by the secretary of commerce. Article I (as Joseph Biden didn’t know in debate) is about the legislative, not the executive branch. Hence, it is argued, the president can’t substitute a sampling for the enumeration required to be done by the secretary.

The Supreme Court has already ruled against the use of the statistical sampling that liberals want to use to create false figures by which they can ram home their agenda. And that case didn’t even involved the further blatant politicization of putting the Census under the Democrat political operative who used to run the Democratic Caucus – you know, the organization that had the job of electing and securing power for the Democrat Party?

The Census determines the number of Congressional districts and determines the size and shape of those districts. Federal and state resources are allocated based on the Census. The Electoral College itself is allocated on the basis of the Census.

As is so often the case, the Constitution is getting in the way of the sweeping socialist agenda of the Democrats. More “needy” and “‘politically correct’ protected people groups in turn garner more government resources to “care” for them. An “actual enumeration” doesn’t give Democrats the numbers of minorities and homeless that they need to force their agenda; so they want a “sampling” method that will allow them to essentially fill in the number they need. Kind of like giving themselves a blank check on your bank account.

This is a power grab, pure and simple.

It reveals the mindset of a President who thinks he is above the Constitution, and above the rules that have applied to other Presidents before him. It reveals the attitude of people who crave only power.

Can you imagine the howls of outrage if President George Bush had attempted to give control of the Census to Karl Rove? Rahm Emmanuel is every bit as partisan and politically Machiavellian as Karl Rove ever was; but Bush – even as Obama and other Democrats claim he sought an “Imperial presidency” and that he “abused his power” – had more respect for the rule of law than Obama is displaying now.

Obama Lied, The Economy Died

February 15, 2009

The title is just my way of poking liberals in the eye with the sharpest stick I can find.  An eyepoke, as they say, is worth a thousand words.

We were told over and over again, “Bush lied, people died.”  It didn’t matter if Democrats were saying the same things that Bush said:

Bush Lied? Quotes from Democrats About the Threat of Iraq-Truth!

Words of Mass Destruction

Quotes and Facts on Iraq

It didn’t matter that every major intelligence service in the Western world believe that Saddam Hussein had WMD and was trying to develop more WMD.

But why let the facts get in the way of a good rhyming slogan?

But with Obama, such a slogan actually has some real legs.

On Friday, February 9, in his media blitzkrieg to sell the Porkulus, Obama made some incredibly forceful – but incredibly false – claims:

Most economists almost unanimously recognize that, even if philosophically you’re — you’re wary of government intervening in the economy, when you have the kind of problem we have right now — what started on Wall Street, goes to Main Street, suddenly businesses can’t get credit, they start paring back their investment, they start laying off workers, workers start pulling back in terms of spending — that, when you have that situation, that government is an important element of introducing some additional demand into the economy.

We stand to lose about $1 trillion worth of demand this year and another trillion next year. And what that means is you’ve got this gaping hole in the economy.

That’s why the figure that we initially came up with of approximately $800 billion was put forward. That wasn’t just some random number that I plucked out of — out of a hat. That was Republican and Democratic, conservative and liberal economists that I spoke to who indicated that, given the magnitude of the crisis and the fact that it’s happening worldwide, it’s important for us to have a bill of sufficient size and scope that we can save or create 4 million jobs.

Most economists almost unanimously recognize? Really, Barry Hussein?

Kind of reminds me of Algore’s famous, “The science pertaining to global warming is settled.”  Right, you propagandist liar.

Obama is lying to us.  And this isn’t a tiny little white lie; IT’S A GREAT BIG FAT GIANT $2.3 TRILLION LIE.  And it might well be an even bigger lie than that.

The Cato Institute placed a full page ad in the New York Times signed by a ton of economists that read:

With all due respect Mr. President, that is not true

Notwithstanding reports that all economists are now Keynesians and that we all support a big increase in the burden of government, we the undersigned do not believe that more government spending is a way to improve economic performance. More government spending by Hoover and Roosevelt did not pull the United States economy out of the Great Depression in the 1930s. More government spending did not solve Japan’s “lost decade” in the 1990s. As such, it is a triumph of hope over experience to believe that more government spending will help the U.S. today. To improve the economy, policymakers should focus on reforms that remove impediments to work, saving, investment and production. Lower tax rates and a reduction in the burden of government are the best ways of using fiscal policy to boost growth.

And there were a whopping load of economists who signed on to that statement – at least a couple hundred, just at a glance.

All these economists signed a public letter saying, “With all due respect, Mr. President, you are a bald-faced liar.”

Obama also said:

We saw this happen in Japan in the 1990s, where they did not act boldly and swiftly enough and, as a consequence, they suffered what was called the lost decade, where essentially, for the entire ’90s, they did not see any significant economic growth.

So what I’m trying to underscore is what the people in Elkhart already understand, that this is not your ordinary, run-of-the-mill recession. We are going through the worst economic crisis since the Great Depression.

But that is simply false.

Japan’s Big-Works Stimulus Is Lesson
By MARTIN FACKLER

HAMADA, Japan — The Hamada Marine Bridge soars majestically over this small fishing harbor, so much larger than the squid boats anchored below that it seems out of place.

And it is not just the bridge. Two decades of generous public works spending have showered this city of 61,000 mostly graying residents with a highway, a two-lane bypass, a university, a prison, a children’s art museum, the Sun Village Hamada sports center, a bright red welcome center, a ski resort and an aquarium featuring three ring-blowing Beluga whales.

Nor is this remote port in western Japan unusual. Japan’s rural areas have been paved over and filled in with roads, dams and other big infrastructure projects, the legacy of trillions of dollars spent to lift the economy from a severe downturn caused by the bursting of a real estate bubble in the late 1980s. During those nearly two decades, Japan accumulated the largest public debt in the developed world — totaling 180 percent of its $5.5 trillion economy — while failing to generate a convincing recovery.

And another article:

Barack Obama-san

As January 20 nears, Barack Obama’s ambitions for spending on the likes of roads, bridges and jobless benefits keep growing. The latest leak puts the “stimulus” at $1 trillion over a couple of years, and the political class is embracing it as a miracle cure.

Not to spoil the party, but this is not a new idea. Keynesian “pump-priming” in a recession has often been tried, and as an economic stimulus it is overrated. The money that the government spends has to come from somewhere, which means from the private economy in higher taxes or borrowing. The public works are usually less productive than the foregone private investment.

In the Age of Obama, we seem fated to re-explain these eternal lessons.

Japan’s “lost decade” was characterized by massive government spending that produced absolutely nothing.  Adjusted GDP, for the United States to spend as much as Japan did, it would have to spend at least $19 TRILLION.  So Japan went plenty far enough.  They took the “government spending equals stimulus” logic all the way to the wall.  And crashed and burned.

Now Democrats are about to embark on the biggest, most unprecedented government spending binge in human history.

The problem with this kind of massive spending by government – apart from the fact that it doesn’t work and will entail the forfeiture of our liberty – is that it will result in a devalued currency and shocking inflation down the road.  And hate to tell you, but there is a genuine nightmare scenario that is becoming more and more real as government blunders farther and farther into a black hole of waste and incompetence.

The Porkulus package is entirely owned by the Democrats.  If it fails – and it will fail – we will have lost precious time and resources that we could have invested in a meaningful solution to our economic crisis.

Obama has repeatedly issued alarmist “fear mongering” threats to push his package onto a fearful country.  He has used bitter partisan speeches to try to malign and ridicule Republicans who were entirely shut out of all input into the bill.  He has blatantly lied, as I’ve shown in this article.  And he is about to sign into a law a bill that was passed without actually having been read by a single Representative or Senator who voted for it.

Obama’s stimulus bill is just pork in new disguise.  And the reality is that we have over a trillion dollars worth of pork bundled into hundreds of wasteful packages of a few billion here, and several hundred million over there – and all of it collectively championed by Obama as “essential” to our very survival.

And the Democrats aren’t telling the truth about any of it – even how much it really cost.

George Will, appearing on ABC’s “This Week” on February 15, said:

Do the arithmetic here. It’s said to be $787 billion, which if that were the only cost of this would be 9% of GDP. But then if you add in two other things – the cost of the borrowing to finance this – over a reasonable time horizon – and you add the cost of those programs which are called “temporary” but which we KNOW will become permanent – it’s about $2.3 trillion.  Therefore Tom Cole, the Congressman from Oklahoma, had it about right when he said, “Never before have so few spent so much so quickly for such little effect.”

And if Heritage is correct, even that shockingly high figure is actually far  lower than a reality which should be as terrifying as it is mind boggling:

And these dollar figures representing the real cost of this “porkulus” – as shockingly high as they are – don’t even begin to address the REAL causes for our financial crisis.  The most expensive spending package in the history of the world didn’t address either the housing crisis or the banking crisis.  That will take MORE trillions to resolve.

The next bank bailout which will immediately follow the hundreds of billions (actually trillions) we’ve just voted for could itself cost as much as $2 trillion, The Wall Street Journal is reporting.

Hold Obama accountable.

If this economy doesn’t start picking up after Obama signs Porkulus, start spreading the word: Obama lied, the economy died.

Hold Obama Responsible For Dismantling American Intelligence

February 14, 2009

Barack Obama has decided to abandon the phrase, “war on terror,” and much of the strategy that kept this country safe for seven years following the most massive attack on US soil in history will similarly be set aside:

In another effort to undo the legacy of George W. Bush’s presidency, the Obama administration is searching for alternatives to the term “war on terror.

and as a result of this semantic withdrawal, a more substantial one necessarily follows:

During the past seven years, the “War Against Terror” or “War on Terror” came to represent everything the U.S. military was doing in Iraq and Afghanistan, as well as the broader effort against extremists elsewhere or those seen as aiding militants aimed at destroying the West.

The Washington Post ran a story entitled, “War on Terror Comes to Sudden End.”  This is not mere verbal game-playing.  Rather, we are deliberately returning to a pre-9/11 mentality.  And we will very likely pay dearly for it in the future.

The speed with which we are dismantling a philosophy of foreign policy that dates back to Reagan, and which Democratic President Bill Clinton likewise pursued, is astounding.  The government of Israel is reporting that Obama has quietly announced that he is dropping sanctions against Iran and other rogue nations in favor of “diplomacy”:

[Israeli Defense Minister Ehud] Barak has already signaled what the new [Israeli] government can expect, officials here said.

The United States has abandoned its policy of sanctioning companies that aid Iran’s nuclear and missile program, they said.

The officials said the new Obama administration of has decided to end sanctions against Iranian government agencies or companies that aid Teheran’s missile and nuclear program. The officials said Israel has been informed of the new U.S. policy.

“We were told that sanctions do not help the new U.S. policy of dialogue with Iran,” an official said.

Barak confirmed the new U.S. policy. In an address to the Herzliya Conference on Feb. 3, Barak said Washington did not say whether it would resume sanctions against Iran.

“We must arrive at a strategic understanding with the United States over Iran’s military nuclear program and ensure that even if at this time they opt for the diplomatic option, it will only last a short time before harsh and necessary sanctions are imposed,” Barak said.

Obama decided to end sanctions against Iran after determining that the U.S. measures had failed to block Teheran’s missile or nuclear weapons program, officials said. Under the administration of former President George Bush, the United States accelerated sanctions on Iran in 2008.

In his address, the Israeli defense minister indicated that Obama had forged an entirely new approach toward Iran. He said the Israeli government has sought a briefing from the new U.S. administration.

A U.S. defense source said the White House would no longer enforce sanctions imposed by the Bush administration. The source said the decision has already been relayed to Iran.

“The administration has abandoned sanctions entirely,” the U.S. source said. “It is a completely new ballgame.”

Similarly, Obama has decided on a new U.S. ambassador to Syria and is expected to lift sanctions against a nation charged with aiding Al Qaida in Iraq and secretly building a nuclear reactor with North Korean assistance.
Diplomatic sources said Obama, in consultation with Secretary of State Hillary Clinton, has asked Frederic Hof to become the first U.S. ambassador to Damascus since 2005. The sources said Hof, a member of the National Advisory Committee of the Middle East Policy Council, agreed to take the post.

The sources said the Obama administration was expected to suspend U.S. sanctions on Syria’s military and energy programs.

This is nothing short of a bald attempt at appeasement.  It amounts to the naive delusion that Iran will radically change its attitude if we start being nice to them and dismantling our attempts to contain their threat.  They won’t.  They will sense our weakness and redouble their efforts to spread jihadist violence and expand Islam.

Obama further signaled his intention of dismantling America’s “war on terror” in terms of both philosophy and capability when he nominated first Eric Holder for Attorney General and after that Leon Panetta for Director of Central Intelligence.  At issue is the fact that not only did Eric Holder engage in pardoning terrorists, but he “was part of a Clinton Justice Department that erected that infamous “wall” between the FBI and the CIA, preventing the exchange of vital intelligence on suspected terrorists.”  And it was that inability of our intelligence agencies to share information, more than any other factor, that allowed the 9/11 attack to be so successful.  As for Leon Panetta,Panetta’s beltway track record can leave us all confident of one thing: he will do his absolute best to dismantle the CIA as its Director.”

Dick Morris, who worked directly under Leon Panetta in the Clinton Administration, said, “I know Leon Panetta…  I worked for for him for two years.  And Leon Panetta is as liberal as they come.”  Morris went on to explain:

that liberals have been at war with the CIA for 50 years; that Carter put Stansfield Turner in to gut the CIA, and that Clinton installed John Deutch for the same purpose.  Both Democratic former presidents had tried and failed to get even more radical candidates through the Senate Confirmation proceedings.  And Morris added that Panetta’s job will be “to decapitate the CIA, not to run it.”

Morris stated that Leon Panetta as Director of Central Intelligence and Eric Holder as Attorney General will result in “the disarmament” of the CIA and the American intelligence system that successfully protected this country for the last 7 years.

He decided to close the Guantanamo Bay terrorist detention facility (“Gitmo”) due to its perceived unpopularity in world opinion, even though the only currently available alternatives – essentially letting them go by releasing them to countries who will let them go after we hand them over, or putting them in US prisons where they will be able to avail themselves to the US justice system – are equally reprehensible.  Most of the countries who have been the most vocal in their protests against Gitmo have themselves hypocritically refused to accept their own nationals detained there.

The result will likely be a mess that will haunt and overwhelm our nation’s legal system for years to come.

Barack Obama also the same day issued an executive order banning “enhanced interrogations” and closing so-called “black sites” where CIA and foreign intelligence professionals had freer reign in their interrogations of terrorists.

Only three men were waterboarded under the Bush Administration:  Khalid Shaikh Mohammed, Abu Zubayda and Abd al-Rahim al-Nashiri.  Mohammed – who had previously divulged nothing – was waterboarded, and thereafter broke down when he shown the waterboard.  Thereafter he sang like a bird.  He gave up  Indonesian terrorist Riduan Isamuddin, who was responsible for the 2002 bombings of night clubs in Bali, and provided information on an Al Qaeda leader in England.

No one has yet taken me up on my challenge: you interrogate me under the Army Field Manual, and I’ll waterboard you until you grow gill slits, and we’ll see who gives up their social security number first.

Waterboarding is cruel procedure administered to cruel people who won’t tell us information that can save the lives of innocent people.  It works.  Period.

But not for the United States.  The new method is to break the suspect down by repeating the phrase, “Please tell us what we want to know?  Pretty please?” over and over.

Obama has previously stated that he would vote to repeal the Patriot Act and opposed the National Security Administration’s wiretapping of suspected terrorists by domestically monitoring international calls, and opposed granting immunity for telecommunications companies that provided assistance to US intelligence.  He altered his positions during the campaign.  Now we’ll have to see if he “alters” them back.

Now Obama has withdrawn the charges against USS Cole bomber terrorist suspect Abd al-Rahim al-Nashiri.  Diane McDaniels, who lost her son James in the terrorist bombing of the U.S.S Cole in October 2000 in which 17 American sailors died, refused an invitation to the White House to meet with President Obama.   She said, “I Voted For Obama.  I Think I Made The Wrong Decision.”  She said America was sending the wrong signal to terrorists.

If that isn’t pathetic enough, now we’re beginning to learn that USS Cole terrorist al-Nashiri may well end up going free.  You see, he was waterboarded, and therefore he is a victim.  The fact that he masterminded the murders of 17 American sailors is inconsequential.  Al-Nashiri’s rights were violated.  And he hasn’t received the speedy trial he deserves.  These are the determinations being made by Obama’s Attorney General, Eric Holder.

I earlier bookended the two philosophies of President Bush and President Obama:

As a result of the “Blackhawk Down” incident in Somalia – after which President Clinton ordered the American presence to leave with their tails prominently displayed between their legs – Osama bin Laden said:

“You have been disgraced by Allah and you withdrew. The extent of your impotence and weaknesses has become very clear,” he said. “When people see a strong horse and a weak horse, by nature they will like the strong horse.”

Now lets look at another approach:

9/11 mastermind Khalid Sheikh Mohammed – after being hounded all over the world and then waterboarded until he spilled his guts to CIA interrogators – said that he doubted that al Qaeda would ever again dare to attack the United States again due to the massive, overwhelming response.

In the philosophical approach taken by President Bill Clinton and now embraced by President Barack Obama, our enemies perceive weakness and hesitation, and as a result they attack without mercy.  In the philosophical approach taken by President Bush, the United States responds with such massive force that our enemies are cowed and disheartened.  The American military machine is the finest in the history of the planet, and when it is unleashed, it wins – and God, or Allah, or Buddha, or place your deities’ name here – help whoever stands against it.

But that was part of “the war on terror.”  And terrorists need not fear the United States any more.  Particularly when at every single turn the United States is deliberately undermining its ability to successfully deal with terrorism and the rogue nations that sponsor it.

I predict attacks against American targets, against Americans on foreign soil, and against the United States itself.  And I demand in advance that Barack Obama be held personally responsible for his abandonment of policies that kept this country and its citizens safe.

Caterpillar Workers Not Drinking Obama Kool-Aid

February 13, 2009

This is frankly hard to believe.  I’d say it’s too good to be true, but in this day of psychotic liberal socialism, it really doesn’t matter – beyond revealing the lie that Obama’s porkulus will help the average worker.

Republican Congressman Aaron Schock – the youngest member of Congress – went on a tour with President Obama to a Caterpillar plant in Peoria, Illinois.  Barry Hussein, in full press partisan mode for his socialist porkulus, urged Caterpillar workers to contact Rep. Schock and pressure him to vote for the plan.

Amazingly, not a single Caterpillar worker took the President’s side.  Not a single worker asked Schock to reconsider his vote.  In fact, Rep. Schock said, he had received 1,400 calls from Caterpillar workers alone urging him to vote AGAINST the “Death of America Act.”

Youtube video

And here is video of ABC News’ Jake Tapper nailing White House Press Secretary Robert Gibbs to the wall like a bug today on President Obama’s statement yesterday – directly contradicted by Caterpillar’s CEO – that passage of the Stimulus Plan would lead Caterpillar to rehire laid off workers.  Not only did Jim Owens say that Obama’s plan would NOT result in hiring back laid off workers after Obama left, but even went to the lengths of saying that more workers would be laid off:

Youtube video