A Second Chance for Republicans
Now that the entire country sees the ten-alarm fire that has set our healthcare system ablaze, Democrats feel compelled to do something. Their Mr. Fix It plans are akin to an arsonist posing for a photo op with a 2-liter pitcher of water to put out the wildfire. Will Republicans continue to pose with them in the photo op or will they kick them aside | Read More »
Debt default: global threat, or greatest stimulus plan ever?
The World Bank and International Monetary Fund declare themselves deeply troubled by the U.S. government shutdown crisis, and the looming possibility of “default.” There is absolutely zero possibility of actual default, mind you. Such a thing would only happen if President Barack Obama explicitly directed it, because there is a vast amount of spending the federal government could cut before it became necessary to think about defaulting | Read More »
The priority problem
The shutdown drama has given Americans an eye-opening look at our massive government’s inability to prioritize. If you take the apologists for President Obama and his Shutdown Theater performances at face value, the Administration assigns extra manpower to keep people out of national parks and memorial sites… and also has plenty of warm bodies available to facilitate an immigration rally on the National Mall. Great: the four-trillion-dollar | Read More »
Spending tomorrow’s money is easy
The short explanation for the demise of Detroit is that time caught up with it. Decades of corruption built a mountain of liabilities, while scaring off the taxpayers needed to finance those promises. It’s like a movie trailer for the blockbuster disaster film to come, when America’s declining demographics catch up with the federal government’s vastly higher mountain of unfunded commitments. Detroit is the city | Read More »
Chris Wallace smacks Dick Durbin over Barack Obama’s debt rhetoric hypocrisy.
I personally think that maybe Chris Wallace shouldn’t have done this to Senator Dick Durbin. Executive summary of “this:” Wallace asked Durbin why it was that President Barack Obama in 2013 declared that our $16 trillion debt was “sustainable,” when Candidate Barack Obama in 2008 declared that $9 trillion debt was “unpatriotic;” and Durbin answered the question by declaring to Wallace that Durbin had had | Read More »
Shining Light on the Fourth Branch of Government
This week, Federal Reserve Chairman Ben Bernanke will deliver his semiannual testimony before Congress defending his reckless monetary stimulus. He will testify before the Senate Banking, Housing and Urban Affairs Committee today and the House Financial Services Committee on Wednesday. Now is a good time for Republicans to demand more accountability from the fourth branch of government – the one not mentioned in the Constitution. | Read More »
Detroit and How Democracies Die
It’s easy to kick Detroit. The place just about roles over and begs for it. Now we learn that the City Henry Ford built is now eligible to be put under emergency management by Governor Rick Snyder. Michigan State Treasurer described the situation succinctly below.
“We believe there’s a financial emergency in the city and that there’s no plan in place to correct the situation … I do believe strongly Detroit is fixable,” he said.
I read this, nod in sad agreement and then think to myself that Detroit is just the symptom. Detroit is just the canary that died in the burning coal mine of American finance. Our country is going bankrupt and despite our heartfelt desire that this not happen, most of us are helping it occur. We are caught in what’s called a discursive dilemma. Gonzalo Lira gives us an explanation of how we made it to sequestration below.
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A Retreat Emanating from the GOP Retreat?
Republicans came into their annual retreat at Williamsburg, Virginia looking for a starting point in the upcoming debt and budget battles. It appears that they have emerged from the retreat with a full blown plan. They will pass a bill this week that will suspend the debt ceiling law until May 18. The debt limit increase will be tied to a requirement that the Senate | Read More »
Arthur Brooks on the Moral Argument for Conservatism
On today’s edition of Coffee and Markets, Brad Jackson and Ben Domenech are joined by Arthur Brooks to discuss the debt, education reform and the moral argument for conservatism.
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We Need an Activist House GOP
In the field of politics, you either drive the narrative or become a victim of the narrative. Unfortunately, for most of the 112th Congress, the GOP-controlled House abdicated their power and became a victim of the political narrative driven by Obama and the Democrat Senate. Over the past two years, the House has been in recess almost every other week. Additionally, a large chunk of | Read More »
Good Job by Freshmen on Flood Insurance Bill
In one of the last votes of 2012, the Senate passed Obama’s bloated Sandy “relief” bill (H.R. 1) 62-32. The $60.4 billion price tag makes this the most expensive disaster aid bill on record. It’s full of special interest projects that have nothing to do with the emergency, as witnessed by the fact that 64% of the funds will not be spent until FY 2015. | Read More »
Happy Debt Ceiling Day
It feels like yesterday when John Boehner was bragging how he got 98% of what he desired from the deal negotiated to raise the debt ceiling in August 2011. Yet just 17 months after Obama was granted a $2.1 trillion debt limit increase to preserve his reelection, we have breached the new ceiling. In just 519 days, we’ve burned through $2.1 trillion in debt, for | Read More »
Boehner’s Tax Increase to Nowhere
So Boehner plans to introduce a bill on the House floor that increases the top marginal tax rate on those earning more than $1 million per year. Most likely, Boehner and Obama will ultimately agree on a deal that splits the difference between $400,000 and $500,000. Many Republicans will shrug their shoulders: “Who cares about a few rich liberals?” However, this rationale represents a shortsighted | Read More »
Government Spending Inflates GDP Report
The Bureau of Economic Analysis published its report for 3rd quarter GDP and found that the economy is growing at a mediocre 2.0% rate, a slight improvement of the 1.3% growth in the 2nd quarter. Had we not experienced such a deep recession, this number would not concern us. However, in order to recover from such a deep recession we need consistent growth of 4% | Read More »
Obama’s Legacy: $1.03 Trillion in Welfare Spending
In many respects, this country no longer looks like the American Republic that our parents and grandparents experienced. More than ever before, government is destroying private enterprise on the one hand, and offering permanent dependency on the other hand. With all the focus on big bird, binders, and the 47%, the most important figure is the $1.03 trillion – the cost of combined federal and | Read More »