Q4 GDP and Consumer Confidence Both Sucked Like a Turbomolecular Pump
Fox News is at the apex of its corporate power. It bestrides the fetid media swamp like a mighty, dollar-and-talent-sucking Colossus of Rhodes. It’s beyond being a network. It is a unique plain of existence, separate from the mere domain of mortal man. That spending problem in DC – it only exists on Fox News.
Now never you mind the actual economic statistics. The fact that Q4 GDP went down by 0.1% versus a non-Fox News consensus estimate of 1.1% – that only happened on Fox News as well. Likewise the Consumer Confidence number that is worse than any value recorded since November 2011.
Well, actually the Consumer Confidence story just winked into existence over at Bloomberg as well. Here’s how a Philadelphia-based bond analyst feels the Consumer Confidence Cliff will effect things out in Flyover Land.
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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 »
Mitt Romney demonstrates how to achieve an honorable separation from George W Bush…
…while at the same time eviscerating Barack Obama. Below are two video clips, and the relevant transcript. I created a shorter and a longer version: some people like the thirty second clips, and some people want the full version for full effect. Also, note that I’ve cut out the bit where Romney hammered Obama for lying about Romney’s contraception position, and the bit where Obama | Read More »
Obama’s Public Debt
Now that the gross federal debt has smashed the $16 trillion milestone, more people are focusing on the gravity of the debt crisis. However, too many people are being exposed to the spurious idea that it’s only the public share of the debt that counts. Many liberal economists are saying that the non-public share of the debt is “money we owe ourselves,” and is inconsequential | Read More »
Our ‘irresponsible’ and ‘unpatriotic’ $16 trillion national debt
Today, the national debt is $16,015,769,788,215.80 (as of 8/31/12 — US Department of the Treasury, TreasuryDirect.gov, accessed 9/4/12). It was $10,626,877,048,913.08 when Obama became president. That is an increase of more than a five and one-half trillion dollars (50 percent) during in the forty-two months of the Obama presidency.
In honor of this momentous occasion, the Republican National Committee in conjunction with Romney for President released a new video titled, “$16 Trillion.”
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Can the U.S. avoid bankruptcy?
The Congress doesn’t cut spending and balance the budget because they can’t. Not even if they remove every department and employee including the military.
So says Hal Mason in the shocking accompanying video titled, “United States Budget Dilemma.”
President Obama, in his proposed Fiscal Year 2013 budget, would spend $3.8 trillion. But the federal government will only collect $2.5 trillion in taxes, resulting in a deficit of $1.3 trillion. That $1.3 trillion is an amount larger than Congress appropriates to operate the federal budget.
The problem is easily stated; spending on mandatory programs and interest is greater than taxes collected. According to Mason, in order to balance the budget, Congress would have to raise taxes 50 percent or eliminate the federal government.
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Obama’s Debt Outsourcing American Sovereignty, Distorting Trade
Any day now we will breach the $16 trillion debt mark. Thank you Obama and the Democrats for mortgaging off the future of our children. You won’t be around in 50 years to bail them out like you did your crony money-bundlers at GM and the UAW. One of the important components of our federal debt in the share of debt owned by foreign countries. | Read More »
Blowing up the Romney vs. Obama dead heat meme
Friday I spoke with WBYZ 94.5 Radio’s Wild Bill McKubby about my recent article, “Romney extends lead among Independents to 14 percent.” During the interview we blow up mainstream media’s meme that the presidential race tied. We also take Obama to task for his $trillion deficits, his 50% increase in the national debt and his incessant Pinocchio campaign falsehoods. You can listen to the interview | Read More »
Tags: 2012 Elections
, Barack Obama
, Mitt Romney
, Pinocchio Campaign
, Presidential Campaign
Tax dollars paying for ‘marketing of livestock semen’
You can’t make this stuff up. Your tax dollars are being used to market ”livestock semen.” Senator Tom Coburn (R-Oklahoma) has put together a new study titled “Treasure Map: The Market Access Program’s Bounty of Waste, Loot and Spoils Plundered from Taxpayers.” The report released today found that the federal government has spent more than $2 billion on a program to promote private companies marketing products | Read More »
Vote Yes on Broun Highway Bill Motion
Among the many Republican capitulations we have witnessed over the past year, one of the most egregious is their willingness to support the Senate highway bill. We’ve chronicled the problems with the highway bill extensively in these pages over the past few months. Aside for the policy issues, the cost of the bill is most problematic because it will engender future bailouts. The $109 billion | Read More »
A New Highway Bill to Cave City
As we’ve noted throughout the past year’s imbroglio over transportation spending, it is clear that complete federal control over transportation spending in a post-interstate highway era (post 1992) is inefficient, costly, anti-federalist, and precludes state and private innovations. Yet, Congress continues to buckle down on a policy that has failed in recent years, exposing taxpayers to future bailouts and tax increases. Worst of all, it | Read More »
, highway bill
, John Boehner
, mass transit
, Tom Graves
New Debt Limit Brings New Opportunity for Cut, Cap, Balance
When Republicans agreed to raise the debt ceiling last year, not only did they credit Obama’s credit card by $2.1 trillion, they also gave him a lifeline until after the election. At the time, it was projected that $2.1 trillion in new debt allowance was sufficient to last until January 2013, sparing Obama the embarrassment of raising the debt ceiling right before the election. Well, | Read More »
Do Republicans Care About the Deficit or Not?
Republicans who seek our support during an election cycle declare emphatically that they will deal with the deficit upon being elected. Once elected, however, they far too often evince nothing but apathy towards efforts to solve our budget crisis. Worse yet, they even work assiduously to create new deficits. Ever since Republicans won control of the House in 2010, instead of looking for spending cuts | Read More »
Good News on Highway Bill Front; More Issues Elsewhere
Our voices are finally being heard – sort of. When we started voicing opposition to the highway bill there were few conservatives speaking out against it, and even fewer members of the House who were willing to oppose it. Now, there is so much opposition to the bill that John Boehner was forced to delay the vote on the highway bill, which was previously scheduled | Read More »
The Highway Bill and ANWR: It’s a Trap!
Well, it appears that our efforts are paying off. Responding to our charge that the GOP was violating the pledge against bundled megabills, Boehner announced that he will split the proposal into three separate bills; the highway bill (HR 7), pension reform (HR 3813), and expanded oil and gas drilling (HR 3408). This from Roll Call: In a joint statement with Rules Chairman David Dreier | Read More »
, highway bill
, John Boehner