Did anyone else notice Justice Antonin Scalia’s headgear at the inauguration today? Richmond Law Professor Kevin Walsh notes on his blog that “The twitterverse is alive with tweets about Justice Scalia’s headgear for today’s inauguration. At the risk of putting all the fun speculation to an end . . . The hat is a custom-made replica of the hat depicted in Holbein’s famous portrait of | Read More »
As the Senate prepares to pass the Sandy Hurricane Relief Act for $50.4 Billion next week, it’s worthwhile to consider this piece of legislation within the bigger picture of looming the fiscal crises. No one will deny that those citizens who were effected by this catastrophic and legendary storm deserve help. However, the bill perfectly encapsulates the dysfunction of our Congress. How many months did | Read More »
From the Government Printing Office *and* the Heritage Foundation March 16, 2006 CONGRESSIONAL RECORD—SENATE S2237-2238: “Mr. OBAMA. Mr. President, I rise today to talk about America’s debt problem. The fact that we are here today to debate raising America’s debt limit is a sign of leadership failure. It is a sign that the U.S. Government can’t pay its own bills. It is a sign that | Read More »
According to National Review Online, Obama had this to say when he voted against raising the debt ceiling in 2006. “The fact that we are here today to debate raising America’s debt limit is a sign of leadership failure. It is a sign that the U.S. Government can’t pay its own bills. It is a sign that we now depend on ongoing financial assistance from | Read More »
Under law, the White House must submit a budget this year by February 4. According to the Hill, Late Friday evening, Deputy Director Zients confirmed that for the fourth time in five years, the president’s budget will not be submitted in compliance with the law,” Only 1 budget out of 4 have been submitted on time — the budget in 2010. The rest of the | Read More »
The question of additional taxes on the wealthy is really a liberty and equity issue, impinging on the very entrepreneurial environment that made our country great. At the heart of any monetary decisions should be free will, not a free lunch. Stop and think about it for a minute. In my adult life, in a free country such as ours, it is entirely my judgment | Read More »
There are two important fiscal dates coming up in February: February 12 and February 15. February 12 is the scheduled date of Obama’s State of the Union speech, which is also Lincoln’s birthday. It also happens to be three days before the “X Date”, February 15, the estimated date that the Treasury may not be able to pay its bills. The debt ceiling deadline. Does | Read More »
Back in 2008 when Obama was debating Hillary Clinton on national TV, Obama noted that raising the capital gains rate would likely reduce federal revenue collections, but insisted it was good policy anyway — because it was a policy of “fairness”. Why would raising the capital gains tax be a revenue loss? The effect of higher taxes on jobs and income would slow the economy. | Read More »
The Democrats made the rounds over the weekend with their new talking point that they’ve already made substantial spending cuts. Here’s how it goes: The Democrats are counting $917 billion from the Budget Control Act, passed in the summer of 2011, as proof that they’ve cut spending. By pitting it against the $620 billion in tax revenue hikes from the Fiscal Cliff deal last week, | Read More »
While the country was discussing the Fiscal Cliff, guns, and Hurricane Sandy, a new bill was introduced in Congress on Friday. Representative Jose Serrano (D-NY15) put forth a bill, now called “H.J. Res. 15″, that proposes “an amendment to the Constitution of the United States to repeal the twenty-second article of amendment, thereby removing the limitation on the number of terms an individual may serve | Read More »
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