The Fiscal Cliff is a problem. We typically blame people not named us when problems occur. It’s easier and less painful than solving the problem. Here the problem is that the current US President and Congress (The US Senate in particular)* have both spectacularly failed in their management of the national fisc.
If we decided to solve America’s fiscal issues, it wouldn’t hurt to mine some historical data. Since 1950, the United States Government has averaged expenditures proportional to 19.61% of the same year GDP with a standard deviation of 2.25%. Our government has booked revenues equivalent to 17.65% of same year GDP with a standard deviation of 1.26%. If both events occurred at random, we’d have a 6.07% chance of a Federal Budget actually balancing if the spending and the revenues were determined at random.** This would suggest that we’ve set up a systemic and nasty spending problem despite pious insistence otherwise.
Interesting. Secretary of Energy Steven Chu may be leaving the post during the next term of the Obama administration. Among those on the list to replace Chu are Ritter; Tom Steyer, a Democrat from California; former North Dakota Sen. Byron Dorgan; Susan Tierney, a former assistant energy secretary; and Steve Westley, a California businessman, according to The Washington Post. More at Hot Air, which notes | Read More »
In the old days, economic crises were organic events that reflected popular greed, economic instability and tangible fear. Speculative bubbles burst, bank depositors panicked and stock markets (and stockbrokers) plunged. No more. We have grown too sophisticated for all that.
Our economy has reached a degree of complexity that its crises must be planned, packaged and marketed just like Cocoa Puffs.
The actions of the Federal Reserve over the past 4 years exemplify insanity more than anything else in politics. They continue implementing one monetary stimulus policy after another in an attempt to jumpstart the economy, even though they keep failing in that goal. We had QE1,2,3 and Operations Twist 1 and 2. Now the Fed’s Open Market Committee has announced a new monetary stimulus package | Read More »
Charming: Unions tore down AFP tent at MI capitol, with elderly trapped underneath, while chanting “This is what democracy looks like.” #thankaunion! — Adam Nicholson (@acnicholson) December 11, 2012 Here’s a picture of the former tent in question. The AFP tent in ribbons after an attack by a union thug. twitter.com/AdamGabbatt/st… #righttowork — Emily Zanotti (@emzanotti) December 11, 2012 Moral of the story, besides the | Read More »
Detroit, Michigan shows us the ruins of a once-great civilization. It does us an even better favor than that. It shows us these ruins as a precautionary warning – while our civilization actually embarks upon collapse. You can view the very artistic now vs. then photos of Cass Technical High School, and see the crash that awaits the rest of America if we continue to believe in impossible things.
This crash will certainly take place, and Detroit’s future will certainly become yours if you remain foolish enough to believe in Government Claus. Libertarian Author James Payne explains the foolish fallacy of Government Claus below.
If you’re still one of the few left wondering why California is such a fiscal disaster, it may be in part because they spend their money on videos like this. Tax The Rich: An Animated Fairy Tale is the newest attempt by the left to blame every problem in America on the wealthy. The video is paid for by the California Federation of Teachers, which | Read More »
Let me sum up this New Geography article (via Instapundit): Top states with most $250K households: California, Connecticut, Hawaii, Maryland, Massachusetts, New Jersey, New York, Virginia, Washington DC. Top metro areas with most $250K households: Atlanta, Los Angeles, New York City, San Francisco, San Jose, Washington DC. States with highest average housing values / mortgages: California, Connecticut, Hawaii, New York, Washington DC. Metro areas with | Read More »
Events get driven by something. The motive power behind what happens in policy and politics can often lie hidden like the mass of an iceberg underneath the sea. Those who bother wondering why President Obama refuses to compromise on anything in order to avoid the “Fiscal Cliff” theorize two primary things. Barack Obama plays the PR angle to make Rethuglicans appear as the political subsumed class* of lackeys to the E-Vil Rich. Others assume he’s Richard Roundtree** and he’s sticking it to the man.
Both of these conjectures see only the tip of the iceberg. There are two possible errors in assuming either explains our President’s behavior in total. The first mistake is to assume that Barack Obama completely drives this train. The second is to assume that he reacts totally based on his ideological battles against Conservatism. Assuming a bond fealty between Barack Obama and his committed core of followers causes me to realize that President Obama (and much of the rest of the professional left in America) has strapped himself in for a ride on the tiger. He’s driving the bus from the movie “Speed.”
In 2008, President Obama campaigned on hope and change. He made lofty promises from closing Gitmo to changing the sea levels. At a debate in 2008, in between John McCain obsessively saying “my friends”, we heard a different Barack Obama than teh one we hear today. One that believed we must deal with our entitlement crisis and we must deal with it swiftly. He addressed | Read More »
Well, well, well. It turns out that UN Ambassador and prospective Secretary of State nominee Susan Rice (she’s a multimillionaire, by the way) has some rather interesting financial ties to numerous foreign energy companies that still do business with that oppressive, misogynistic, homophobic, and downright barking mad insane regime currently controlling Iran. The most interesting one of those is Royal Dutch Shell, which has about | Read More »
Well, well, well. We have another crisis. It’s called “The Fiscal Cliff” and it just can’t go to waste. Somewhere, probably in the same non-descript warehouse that the GOP stores Dick Cheney’s old weather control ray, Evil Republicans are plotting….They want to steal MY2K!*
Well, no. They don’t want to steal anyone’s 2K and they lack the power to if they tried. This is not MY2K. This money belongs to people who generally (but with some hideous exceptions) are among the smartest, hardest-working and capable in America. I wrote earlier concerning the morally detestable class-warfare Democrats.
Any person who voted for Barack Obama for the express purpose of having him utilize the US tax and regulatory apparatus to take money away from the rich and give it to them personally, is the moral equivalent of a bank robber. Neither I, nor any other person alive, is entitled to two red cents out of another person’s stash just because we don’t have as much.
The General Accounting Office estimated that domestic sugar producers reaped about $1 billion in 1998 as are result of this policy. However, 42 percent of the total benefits to sugarcane and sugar beet growers went to just one percent of all producers; indeed, just seventeen sugarcane farms collected over half of all the cane growers’ benefits.
So let’s say someone on your Christmas List is lucky and up there in The Iniquitous 1%™. Let’s furthermore assume that She/He/IT cares about the 99%™ almost as much as Senator Warren and Ward Churchill bleed Indian Red, but not quite. What do you get the ruthless, plutocratic (expletive) that has everything for Christmas? The answer is obvious. !More Government!
There is an uncanny irony that has emerged from the bowels of the tax fight – one that is lost in all the banal details of the pitched battle. Democrats have fallen in love with the Bush tax cuts, which they fought so vociferously to block in 2001 and 2003. While the Democrats are demanding that we raise taxes on the rich, they are stridently | Read More »