Debt Ceiling: Congress Must Slash Spending

On the second anniversary of the Obama Administration came the news that the government’s accumulated debt had crossed another portentous threshold and now exceeds $14 trillion. It took 51 weeks to grow from $12 trillion to $13 trillion. It took only 27 weeks to grow from $13 trillion to $14 Trillion The government’s fiscal year […]

Alarm Signals Flashing From a Vulnerable Economy

Government can not continue to spend more and more while at the same time pursuing policies that drive down tax revenue. The private sector is unable and unwilling to generate enough taxable income and profit to support government’s mushrooming appetite. The drop in individual income tax revenue in fiscal 2009 was the steepest since 1939.  […]

The Obama Track Record: Promises Vs Results

The purpose of the original chart (all the blue parts) and the report it came from was to help sell the “stimulus” package, or “recovery plan,”  by planting in the public mind the perception that experts had done the math and knew how the government could “save or create 3.5 million jobs,” by borrowing and […]

Now a Disappointment, Specter Was Once a Hero

The media are in a festive mood, rejoicing in the defection of Arlen Specter from the GOP to the Democrats.  They will likely find themselves not so joyful as the months wear on. First, giving credit where due, without Specter’s efforts on the Senate judiciary Committee there would be no Supreme Court Justice Clarence Thomas. […]

Fiscal Responsibility? The Audacity of Chutzpah

President Obama’s Fiscal Responsibility Summit bamboozled the stupefied national media into reporting on deceptive campaign-style hype as if it were a serious policy meeting. Chutzpah (pronounced and sometimes spelled “hutzpah”) is a Yiddish term meaning shameless, brazen temerity, combined with contempt for the intelligence of others.  Perhaps the most famous description of Chutzpah came from […]

Broken Politics + Pseudo-nomics = Disaster

This was to be the week the new Congress began work on the crucial, urgent, Trillion Dollar Stimulus Plan, mislabeled down to $850 Billion, for advertising purposes.  It was to be completed in just over two weeks, in time for President Obama to sign it into law on Inauguration Day, January 20. The two points […]

Auto Bailout Facts Vs Elite Media-Political Opinion (2)

This is the second post examining the political-media establishment claim that the Detroit auto companies are in financial trouble because they don’t manufacture more of the tiny vehicles politicians and the green lobby favor.  The first is here On Main Street success is measured in satisfied customers and profits. In the Washington establishment success is […]

Auto Bailout: Facts Vs Elite Media-Political Opinion (1)

It now appears likely that the auto makers will receive about $18 Billion from Washington this week. The so-called “debate” over this issue has been a classic example of how ignorant and out of touch with reality the Washington media-political machine has become.  The continuous flow of ignorant opinion and misinformation showcases the utter laziness […]

Dirty Green Politics and the Auto Bailout

This week, Executives from GM, Ford, Chrysler, and the UAW made a return trip to Washington to grovel before the politicians who, if their egos are sufficiently massaged, have the power to hand them vast amounts of taxpayer money. The executives submitted to scores of stupid questions, and endured many hours of ignorant opinions from […]

Obama Economic Team: “Wisdom & Ingenuity” or Hubris?

Every week brings another, massive, new bailout. Various financial publications have come up with estimates ranging from $3 Trillion to $7 Trillion for the total amount of cash and backstop guarantees the government has hurled at problem financial institutions in just three months. One might expect the new administration to distance itself from this reckless […]

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