In Florida, America’s Rain Man, Joe Biden, promised seniors that Obamacare would provide for free a colonoscopy based on a “feeling they had” and not on medical need. In doing this, and sanctioning the overuse of a procedure that is considered to be one of the most overused Medicare procedures, Biden demonstrated what is wrong with Medicare.
Yet another Recovery Summer ends under the pathetic Obama regime and we find employment down, labor force participation down, incomes down, production down, and GDP down. The only up is food stamp recipients and college loan defaults. And the regime and its media enablers can only tout cargo cult economics.
Economist Paul Samuelson was once asked to explain how sin taxes worked. He offered up the following commentary.
“Sin Taxes” are so called because they are levied on those commodities, such as tobacco and alcohol, which are the objects of widespread disapproval. “Such taxes,” Paul Samuelson says, “are often tolerated because most people–including many cigarette smokers and moderate drinkers–feel that there is something vaguely immoral about tobacco and alcohol. They think these ”sin taxes“ stun two birds with one stone: the state gets revenue, and vice is made more expensive.”
This is absolutely what has not happened in New York since Mein Obama and Gropenfurher Bloomberg have decided they would levy exorbitant sin taxes on tobacco products in New York City. Newsday.com describes the destructively regressive nature of the sin taxes on tobacco below.
Seven out of ten is bad. Really bad. Outstandingly bad. When seven out of the ten richest counties in America are proximate to Washington, DC, this is a statistical harbinger of national decline. Our current president not only didn’t change Washington from the inside, he quickly concluded he had no particular reason to want to.
There’s nothing that exemplifies the deleterious effects of government intervention into the private sector than the housing market. Bill Clinton’s National Homeownership Strategy did to the housing sector what Obamacare will do for the healthcare sector. His administration created entire offices and programs dedicated to forcing banks to underwrite risky mortgages under the dubious goal of universal home ownership. Concurrently, Fannie Mae and Freddie Mac | Read More »
Every year, the Fraser Institute, a Canadian free-market think tank, publishes an economic freedom index for all developed and some developing countries. The index is determined by 42 variables that fit into 5 broad categories; (1) size of government; (2) legal system and property rights; (3) sound money; (4) freedom to trade internationally; and (5) regulation. So where do we stand in the 2012 Economic | Read More »
Do you want an echo, or do you want a choice? Would you like to participate in an election that meant something other than an additional inconvenience as a part of your morning commute? These are rhetorical questions for my five or six constant readers. For those not already convinced this election offered a stark and compelling contrast, Mother Jones just hit the Easy Button for you with their incomplete but controversial videotape of Mitt Romney claiming that 47% of America was dependent upon government. This election just became a choice of existential gravity. A or ~A. America or Amerika.
Copious pages of commentary have been poured over the kerfuffle surrounding Romney’s newly-discovered comments regarding the 47% who don’t pay taxes and inexorably vote for Democrats. It’s important to note that Mother Jones malevolently edited out two minutes of the video right at the time Romney made the “47 percent” comment. There are a few points that I believe have been overlooked throughout this | Read More »
America has yet another reason to grow tired of Barack Obama’s failed economic policies. On the same day he released a new campaign ad entitled “Tires,” Goodyear Tire and Rubber Incorporated seems to have cracked an axle. As the travails of President Obama’s failed government corporatism hit home, I read the following from The Gadsden Times. According to press reports, the plant in Danville, Va., | Read More »
I’ve taken a deep breath since the Fed announcement of QE III and no longer care whether or not The Ben has a bumper sticker supporting Obama/Biden on the bumper of The Benmobile. I can’t stop the man, so the deeper question is one of whether he has improved my existence or made it worse. I disagree with many here and opine that QE III will make America a worse place in three respects. It will make us all more susceptible to moral hazard, it will make politicians less accountable, and it will fail in its stated objective of ever improving unemployment.
One of the talking points that Obama’s reelection campaign has been pushing is that “Bin Laden is dead and GM is alive!” It’s fair to say that the success of GM is a pretty important linchpin to his reelection case. Something that Obama has not been running on is his failed attempts to force his green dreams on an unwilling public. You won’t see him | Read More »
So the Producer Price Index (PPP) increased at the highest rate since June 2009 (the “end” of the recession), but fear not, inflation hasn’t trickled down to the consumer end yet, say the wizards of smart. Except that it has. You can use all the data you want, American consumers know they are paying much more for virtually everything at stores, supermarkets, and retailers. And | Read More »
Get ready for another weak ground out into a double play in the upcoming budget battle. Shortly before the August recess, we reported that Republicans planned to pass a clean 6-month CR which funds Obamacare and appropriates $1.047 trillion in spending – commensurate with Obama’s request instead of the House budget. The idea behind the “deferment” strategy was twofold; to delay the major battles to | Read More »
Our nation learned more things we didn’t really want to know this morning. It seems German Finance Minister Wolfgang Schaeuble believes the United States will fail to effectively deal with its government debt after this November’s election. Moody’s has also threatened to cut the US government bond rating to AA1. I learned all of this from The Drudge Report.
What concerns me to no end, is the fact that President Obama apparently learned these things from the very same source. I say that because he certainly wasn’t present very often to hear it from his economic team during his regularly scheduled White House briefings. The Government Accountability Institute reports that President Obama has been truant from his official place of duty more often than Huck Finn and Tom Sawyer combined. The Washington Post forgets whose side they are on and reports details below.