Tag Archives: Economy

Economy, Politics

Obama's Oval Office Chat On The Economy

President Obama spoke in the Oval Office today, Friday 13, 2009, after meeting with economic adviser Paul Volcker and members of his business advisory board. Here’s AP’s account of the chat, ‘Obama: Help coming for those facing economic pain.’ What does ‘for those’ mean?’ I’m of the impression that the whole country is facing economic pain, not just ‘those.’

– President Barack Obama on Friday acknowledged that many families are suffering “incredible pain” from the economy but said his government is on a daily campaign to get credit flowing and build a long-term recovery.

He is right about one thing. The ‘daily campaign’ part. The ‘his government’ was kind of cute too. The teleprompter just isn’t working to boost confidence that he has a clue. Confidence is what the market is looking for, and does not yet have. The ’empty suit’ is showing again.

“If we are keeping focused on all the fundamentally sound aspects of our economy – all the outstanding companies, workers, all the innovation and dynamism in this economy – then we’re going to get through this,” Obama told reporters in the Oval Office. “And I’m very confident about that.”

Did he say ‘the fundamentally sound aspects of our economy?’ (bad images of John McCain going through my head) I’m glad President Obama feels confident. I’m not. This one statement shows Obama’s lack of understanding of our economy. There is one fundamental aspect of our economy that he omits, the weight and level of involvement of government on the free market. To be fair, it may not be a lack of understanding on his part. If not that, then he is being intellectually dishonest and deceptive in discussing the economy and its performance by leaving government involvement out of the picture. Neither one makes me feel very confident. Which one works for you?

Under his bailouts, nationalization and stimulus plans, the exceptionalism of our people (he refers to as workers), and the innovation and dynamism of our companies will be all but gone. I suppose it depends on what your definition of ‘getting through this’ is? Someone should ask him. Maybe Jim Cramer from  CNBC’s business channel. Does it mean recovering once again as a free-market economy like we used to be, or recovering as a more socialist country with the lousy economy that goes with socialism?

He said more help will be announced soon for small businesses, but did not elaborate.

I can elaborate. Card Check. That’s what he has in store for small business. Card Check is a labor union ticket to organize small business, and any other size business. Card Check will depress and suppress small business. Which will be mirrored by the economy. Can’t wait to hear him spin Card Check as being good for small business. I mean, when he campaigned, he said  ‘no more earmarks.’ Now that he’s elected, and the Pelosi / Reid budgets are in front of him, earmarks are cool.

Pushing a big agenda for health care, energy and education, Obama said he was seeking a “post-bubble economic growth model.”

Wouldn’t it be preferable, safer, and cheaper to recover the economy BEFORE going into the grand government health care scheme?  NO, before nationalized health care. How about announcing your plans to fix Social Security, which even if we were in good economic times, will bankrupt the country all on its own? On that point, there isn’t even any argument. (embarrasing images of Obama, the ‘long-term thinker’ come to mind)

“The days when we are going to be able to grow this economy just on an overheated housing market or people maxing out on their credit cards, those days are over,” he said.

It’s good that he is at least admitting, in a way that only Obama can, that the Left’s idea of putting people in houses that they can’t afford was not a good idea.

“We’ve got to get through this difficult period,” he said. “And, look, there are a lot of individual families who are experiencing incredible pain and hardship right now. If you’ve been laid off at your job, if you’ve lost your home, then, you know, right now is very tough. But we’re providing help along the way.”

And getting used to living in a socialist nation will take time. Just hang in there and remember, we feel your pain.

Economy, Energy, Fair Tax, Politics

'Stimulus' Is Working, For Switzerland

Here’s a real-life example that speaks to the benefits of the Fair Tax in attracting business from around the world. It is the exodus of business from the United States as they escape the ‘tax hammer’ of the politicos in Washington. They are moving their domicile to Switzerland. How’s that for an economic stimulus?

As the Obama administration prepares to hit the energy industry with a $10 Billion tax ‘incentive’ (his word, not mine), the law of free-market economics does what it does just as sure as gravity does what it does, it ignores the will of the political class.

The tidy towns and mountain vistas of Switzerland are an unlikely setting for an oil boom. Yet a wave of energy companies has in the last few months announced plans to move to Switzerland — mainly for its appeal as a low-tax corporate domicile that looks relatively likely to stay out of reach of Barack Obama’s tax-seeking administration.

In a country with scant crude oil production of its own, the virtual energy boom has changed the canton or state of Zug, about 30 minutes’ drive from Zurich, beyond all recognition. Its economy was based on farming until it slashed tax rates to attract commerce after World War Two.

The Fair Tax would, all on its own and without increasing our national debt, change the global business paradigm by making the United States the tax haven for businesses around the world.

Link: RPT-FEATURE-Corporate oil booms in low-tax Switzerland

Economy, Energy, Pensacola, Politics

Rush Has Zero Impact

‘Limbaugh’s political influence is not vast at all.’ That, according to Air America Radio host of the Ring of Fire program, Mike Papantonio.

That’s why I thought it odd that he would go to all the trouble to offer his political advice to RNC Chariman Michael Steele. Which is, have Rush start a third party.

I’m sure Rush will be taking advice from Mike Papantonio and/or Michael Steele. Besides he wouldn’t take the pay cut. Look what good advice it is. Split the party, dilute what little solidarity there is in the GOP, guarantee Democrats stay in power in Washington. Yeah, that sounds like a plan Rush would like. 🙄

The heartburn Papantonio has with Rush is two-fold. Professional envy is probably his biggest motivator. Rush is a conservative first, not a Republican first. And, Papantonio knows that conservatism is the antidote to the liberalism / socialism as proscribed by the Democrats in Washington today.

That one man, Rush, can create such an uproar on the Left belies the irrelevancy that is ascribed to him by Mike. It takes away from examining the real issues, like how Obama’s Cap and Trade plan will raise the cost on the poor for gasoline, natural gas, home heating oil, and electricity.

The poor can thank Obama for not raising their taxes. The poor can also thank Obama for replacing it with higher fuel and energy costs on them. And Rush can stay right where he is.

Link: Papantonio: GOP should turn its back on Limbaugh

Economy, Pensacola, Politics

Socialism Is To Nationalism

As Liberal is to Progressive. From the Left front, it is official. They have come out of the closet for socialism. In case you missed it, this was part of Saturday’s program, on Air America Radio.

We’ve also got best-selling author David Sirota with us today, and he’s gonna tell us why we shouldn’t be afraid of nationalism, because if you look closely, you’ll see that its already all around us.

David Sirota gave two examples of nationalization that, he says, the American people like. Social Security and Medicare. Both of which will be financially unsustainable in the not too distant future all on their own. A fact that was overlooked by the show’s host, Mike Papantonio, on his Ring of Fire radio program. What’s funny is the ‘if you look closely’ line. To some, like this conservative, the Left’s urge for government control of as much of our lives as possible, does not require close examination. It wasn’t neocon hysteria after all. It’s out there.

Ring of Fire radio link: Hour 3 William Kleinknecht David Sirota (Sirota’s segment goes from the middle to the end of the audio file)

Bio: Mike Papantonio hosts a nationally syndicated radio show, the Ring of Fire, on Air America Radio and is the founder of GoLeft.tvGoLeft.tv. He is a partner in the Levin Papantonio law firm in Pensacola.

Economy, Politics

Earmarks Of Epic Proportions

On the subject of earmarks, I’m not feeling too confident that the Obama who ran for election these last 2 years is the same Obama that is in the White House today. Fool me once . . .

He said he was against earmarks and wouldn’t sign a bill with earmarks in it. He described an earmark as legislation that gets thrown in that escapes public scrutiny and debate.  There will be no more putting things into legislation without full disclosure and examination. Such was his position.

By the President’s own definition, the $787 billion stimulus package is an earmark. President Obama told Congress they had to approve that bill immediately. Things were getting so bad that the world would end if Congress did not act fast. They didn’t have enough time to even know what was in the 1,100 page bill before they voted for it.

Now, the President has upped the ante to our future generations in his free-market regression, or spending binge. He is now saying that people are going bankrupt because of health care costs, and, that’s why we have to implement government run health care right away. He characterizes this socialist cherry as being a stimulus.  What?   And we have no time to waste in nationalizing health care. It will save us money. Right! For Congress to save money, someone would have to take their pens away so they couldn’t sign anything.

Never mind the shifting of power from the people to politicians in Washington for a moment. Solely on a monetary basis, to believe that spending trillions of dollars more of money belonging to future generations will help to stimulate and stabilize our economy today, to quote another Democrat, ‘requires a suspension of dis-belief.’

Speaking of our Secretary of State, how many months, or years did she work on THE PLAN to take over the health care industry? Let’s just say for arguments sake, that it took longer than a week. And President Obama today wants us to jump on board a plan that does not exist. Unless it is Hillary’s plan that he’s talking about, how is it possible that Obama has a plan that we should vote for right away? He is saying, trust me, you don’t need to know how I’m going to do this, just vote for it. There’s a crisis going on.

By the President’s definition, the stimulus bill and his nationalized health care ‘plan’ are both earmarks of epic proportions.

Economy, Media, Politics

Socialism: Yes Or No

With bailouts and ‘stimulus’ plans and a new federal budget out there, all of which are a burden on our future generations, can it be that the fix is worse than the problem?

Under the cover of economic recovery, the Obama administration has managed to legislate a blend of socialism by that or any other name. It is nothing short of socialism via fiat.

The first question should be:

Do you want to shift the United States from a free-market capitalist society to a more socialistic one, controlling your bank, your health care and your welfare? YES or NO

This necessitates one more question:

Do you believe the government can do all that to your satisfaction?  YES or NO

With only its record to go on, the Obama administration is assuming the answer to the questions would be YES. And the  media watchdog is apparently of the same opinion.

Economy, Media, Politics

Gov. Crist: Short-Term, Short-Sighted

At his address to the nation last night, President Obama put into perspective exactly what was bothering me with Gov. Crist’s support for his so-called stimulus bill that was railroaded through Congress last week.

Florida is expected to receive some $12 billion in federal aid from the package. Crist says it is his job to represent the people in Florida, so if he can get $12 billion out of our government, he’ll take it. The day before the vote, about the bill, Crist said . . .

My concern is not about what’s best for one party or the other. My concern is what’s best for the state and what’s best for the people of Florida.

His reasoning is as short-sighted as can be. Never-mind that the stimulus bill is 75% of a government stimulus rather than an economic stimulus. Also never-mind that the President once again emphatically stated that there were no earmarks in that bill. All without the slightest challenge from the media on that false statement. The rationale seems to be that, after the first few hundred billion dollars in earmarks, there are no earmarks in that bill.

If Gov. Crist wants to better represent his constituents, he would be looking at the long term consequences this stimulus bill will do to our economy instead of reaching for the proverbial golden ring.

For his panhandling politic-speak,  Obama called Crist out when he said . . .

In other words, we have lived through an era where too often, short-term gains were prized over long-term prosperity; where we failed to look beyond the next payment, the next quarter, or the next election.

Governor Crist can forget whatever presidential aspirations he may have in is future. At least as a Republican. Supporting that bill for the reason he said ended that question.

links: RAW DATA: Transcript of Obama’s Address to Joint Session of Congress |

Gov. Charlie Crist takes heat from Republicans for supporting stimulus package

Economy, Politics

Stimulus Bill Signed Into Law

The porkulus bill was signed by President Obama today. Don’t think that it is the economy he is fixing with this bill. This bill does more to reinforce a Democrat majority, or so he believes, than it does to stimulate the economy. Establishing permanent political power comes first.

Ever notice that it is never the government that makes a sacrifice, to do with less, or without?  Just lower your expectations for the country. This is how our image around the world will improve.

On the flip-side, this administration will find out that economic principles and political ones are not the same. When it becomes obvious that this bill has only made matters worse, we might see the people voting for change in Washington one more time.

link: Obama signs stimulus bill, readies homeowner plan

Economy, Media, Politics

Stimulus Day, Friday 13th

History is made today, Friday the 13th, when two houses of congress vote on a ‘stimulus’ bill that they have not read. And what they have not read, will guarantee that the next couple generations will still be paying our bill.

How’s this for ‘change?’ President Obama’s campaign promises include transparency. Does that include enough time to read what is in the 1,100 page bill? The bill that Republican input was not allowed. The ‘agreement’ was 48 hours to review the bill before voting on it. Turns out to be around 8 hours.

Today also marks the official death of the media’s role as a government watchdog. The media has so powerful a responsibility that they have the constitutional protection in the 1st Amendment to be one. That dog died today.

Democrats in Washington don’t want the people to know what is in the bill before they vote on it. A lot of what is in it this ‘stimulus’ bill  are things that, if put to a vote on their own, would not pass. So the less you know about it, the better.

It is obvious why the Democrat-controlled congress wants to rush this bill sight unseen, to the President’s desk. But what is the media’s excuse? That dog died.

Look how the watchdog AP, or make that the lapdog AP, covers the events of today. Not one mention of the fact that Democrats reneged on the deal to have 48 hours to read it. No mention of the fact that there was not enough time for anyone to read the bill. The rush to the vote is called muscling the bill through, virtually on their own. Sounds like a good thing doesn’t it. In the article, look for a mention that no one, including the media, knew what was in the bill when they voted on it. Who would have thought that the media would be satisfied with the voting and passage of a bill, the contents of which are not known?  AP doesn’t know what is in it. What is worse, AP doesn’t care to find out what is in it.

WASHINGTON (AP) — In a major victory for President Barack Obama, Democrats muscled a huge, $787 billion stimulus bill through Congress late Friday night in hopes of combating the worst economic crisis since the Great Depression. Republican opposition was nearly unanimous.

Quick survey here. Everyone who thinks the media would be just as lax if McCain/Palin were in The White House, please raise your hand.

link:  Democrats muscle huge stimulus through Congress

Originally posted 2/13/2009

UPDATE 2/14/2009:

Survey results from yesterday are borne out of today’s headlines. From O-AP.

Savoring win, Obama celebrates `major milestone’

Savoring his first big victory in Congress, President Barack Obama on Saturday celebrated the newly passed $787 billion economic stimulus bill as a “major milestone on our road to recovery. ” Officials said he would sign the measure on Tuesday in Denver.

Economy, Politics

The Change We Got

Being guided by rule one, ‘Never allow a crisis to go to waste, they are opportunities to do big things,’ as explained by President Obama’s Chief of Staff Rahm Emanual, Rush Limbaugh sums up the first twenty days of the Obama administration and its cast of characters and what is actually in the Stimulus Porkulus bill. It’s no accident that Obama chose Limbaugh to be the target, instead of  ‘his’ so-called stimulus bill. To single him out, it shows how effective Limbaugh must be.

Limbaugh Video HERE

As an aside to the Porkulus Bill itself, did you hear what RINO Sen. Arlen Spector (R-PA), one of three RINO’s that voted FOR this big government spending bill, had to say about what’s in the bill? He admitted today on Fox News that he was unaware of all the health care-related items in the bill. He said too that he was a proponent for having more (try any) debate and input from Republicans because more time was needed to find out what is in the bill, and asked Obama why the rush to judgement? This, after he voted for it.

Essentially, in one sentence, the man who voted for the bill is admitting that he didn’t know himself what was in it, and needed more time to find out all of what is in the bill. I know, this doesn’t make any sense. Is it dementia,  medication, or an uncontrollable urge to be ‘loved’ that causes him to act this way? Pick one.