Our ranting President. As he blames Speaker Boehner for the collapse of the debt talks, perhaps it would be well to remember that Obama’s Congress of 2009-2010 had plenty of time to pare down the debt and raise every tax in the land. Last night our fearless leader looked like some churlish child deprived of his lollipop.
Dirty Secrets the Left Won’t Tell
Lost in the weeds of the debate about this nation’s debt ceiling are a number of dirty secrets the left won’t tell.
Much of the deficit could be fixed if those 20+ million unemployed Americans could find a decent private sector job. Tax revenue to the government would soar. There would be fewer people on food stamps and welfare. Fewer people drawing unemployment checks.
But employers are not hiring. Why? Well, the left won’t admit it, but here are the reasons. Obamacare. Energy Costs. Inflation. Tax Policy. And because Americans aren’t spending.
1. Obamacare. No democrat who voted for it wants to admit it, but it has created a permanent drag on the economy because employers still can’t get their arms around what it will cost, except that they do know costs will rise as more taxes to pay for it are levied, and more regulations are implemented to enforce it. Companies like McDonalds that have been given a waiver are hiring. Imagine what would happen if every company got a five year waiver from Obamacare.
2. Energy Costs. The cost of energy has negated the impact of extending the Bush tax cuts. And the posture of the President and the EPA does not encourage anyone to believe that energy prices will ever come down again. The dirty little secret is that the left does not want the price of fossil fuels to drop, for they still cling to the utopian dream that jacking them skyward will someday make solar cells and windpower economically viable. It won’t. Open Alaska and more public lands to energy exploration, build a pipeline from Alberta to the Gulf so that we have access to Canadian oil and watch the price of gasoline come down.
3. Inflation. Any American who can read knows the Fed is printing money. Anybody who has been in a grocery store more than twice in the last six months knows that inflation is with us, alive and vicious. As Americans see the value of their dollar erode, and their food bills skyrocket, they become very cautious and less inclined to spend money on other things.
4. Tax Policy. Last year, Republicans won the largest majority in Congress since the 1940’s. They did not win that majority by promising to raise taxes. And they are not going to. Furthermore, even if you abolish the corporate loopholes and confiscate the wages of all those making more than $250,000 a year, it still won’t balance the budget or pay the bills of the Obama Presidency. The dirty secret is that Obama’s bills cannot be paid without leveling taxes on more of the middle class, or imposing a Value Added Tax.
5. Lack of Consumer Confidence. Consumers aren’t spending money because they have little faith in the President, and have come to the conclusion that he is in over his head. The stimulus bill was a flop. Obama care is not working as promised. Energy prices have skyrocketed. He refuses to be serious about entitlement reform. His every solution to the spending problem is higher taxes. When Americans lack faith in a President’s stewardship of the economy, they sit on their wallets.
Few on the left will admit these dirty little secrets about what ails the U.S. economy. And there is something else those on the left won’t admit. They really do want the United States to be more like Europe. Except when we become another Europe, we will cease to be the United States of America.
Ever hear of European Exceptionalism?
This is rich. Sen Schumer will argue today that relaxing immigrations standards will result in the hiring of more American workers. I read the articles three times. And yes, he REALLY plans to say that. I miss the logic. Perhaps someone can explain it to me. http://www.politico.com/news/stories/0711/59311.html
New York Senator Chuck Schumer went to the floor of the U.S. Senate floor this week to announce his new definition of the word “immoral.” It is “immoral,” says Senator Schumer, that Republicans are asking for spending reductions and entitlement reform before they agree to raise the debt ceiling.
With all due respect to the esteemed Senator, what is immoral is what we are doing to the next generation. What is immoral is making promises we can’t keep, hiding the cost of those promises, pretending that we can borrow our way into prosperity, inflate our way out of debt or balance the budget by waging class warfare on the job creators.
What is immoral is that professional politicians want to hand off to our kids a staggering pile of bills, ballooning interest payments and a crushing debt burden.
What is immoral is expecting our kids to keep the promises Senator Schumer’s generation made, knowing full well that the crushing tax burden our kids will endure means they will never enjoy the same standard of living Senator Schumer’s generation enjoys today.
What is immoral is that Senator Schumer and his generation will soon hand our kids a country with a broken tax code filled with loopholes put there by lawmakers at the behest of the K-Street lobbyists who the pockets of our ruling elite.
Ronald Reagan’s generation gave the Schumer generation a world in which the United States was the undisputed economic superpower on earth, a period when budgets were balanced and no one disputed our military might or our dominance in space.
Today we read that China will soon overtake the United States in Gross Domestic Product, we’ve ceded to the Russians the race in space race, millions of Americans can’t find work, and now that we’ve squandered the wages of our middle class on stimulus bills that didn’t work, Senator Schumer demands we raise the limit on his credit card.
What is immoral, Senator Schumer, is not the grownups in the room who demand we do better by the next generation. What is immoral is you and the ruling elites who made such a mess of the campsite you are about to bequeath to the next generation.
Driving Canada into the Arms of China.
Ten years ago, there was a major oil discovery in Canada. 175 billion barrels of proven oil reserves, the third largest in the world, less than 700 miles from the U.S. border.
Canada wants to sell us the oil. And they need to expand a pipeline to get their oil to us. But the U.S. Environmental Protection Agency doesn’t like that idea because the EPA thinks extracting oil from Canada’s oil sands will contribute to global warming.
So what is Canada going to do? They are not going to stop producing the oil because the EPA doesn’t like it. Instead, Canada now plans to build a pipelineto the Pacific Ocean. So they can sell the oil to China.
Which raises the question. What the hell are we thinking? Telling a good neighbor and a good trading partner to sell energy we need here to an emerging superpower which will soon challenge the United States for economic and military supremacy.
In fact, the Chinese already have us by the neck. Goldman Sachs says that in less than 17 years China will overtake the United States in Gross Domestic Product.
For the first time in more than 100 years, America will cease to be the mightiest economic engine on earth.
During the past 30 years, China’s GDP has grown by a factor of 10. Its share of global manufacturing will soon surpass that of the United States, while we drown in a sea of red ink sending unemployment checks to Americans who can’t find work.
Our trade deficit with China has topped $200 billion each of the last five years. They own 25% of our debt. They have invested the proceeds of their trade surplus all over the globe –Iron ore in Sierra Leone, mines in South Africa, coal and gas in Australia, oil in Brazil and Venezuela, coal in Mozambique, copper in Chili.
China has cornered the market in rare earth metals, and now controls 97% of world’s supply, commodities essential to the production of electronics, iphones,hybrid cars, jet fighter engines, computer disc drives and missile guidance systems.
As Congress now talks of slashing our defense budget, the Chinese are making annual double digit increases in theirs, as they have each of the last 20 years.
Mr. President. Canada is going to produce the oil. Oil that we need here to fuel our factories, drive our cars and heat our homes.
Driving our friends in Canada into the arms of China is not a good idea Mr. President. In fact Mr. President, some might call that treason.
Economy in a free fall.
The unemployment rate hits a nine month high, and the only suggestion we hear from the left is more spending. This much is clear. Obamacare and sky high energy costs have created a permanent drag on the economy. Obama’s constant demand for higher taxes is spooking the job creators. Consumers, having no confidence in the President, are refusing to spend. We are becoming more like Europe every day.
Cuomo’s Consequences. Dirty Air. Higher Energy Costs. Fewer Jobs. The NYT reports today that Cuomo’s plan to close Indian Point will cause electric bills to skyrocket, increase reliance on coal fired plants (dirtier air), and risk brownouts in a state that has the worst business climate in the nation. There are other nuclear plants in NY. Are we going to close them too?
Cheating Teachers. This is the sort of thing that destroys the public’s faith in public schools. From Atlanta comes a report of teachers and administrators changing incorrect answers on test scores to win financial bonuses. More than 150, including 38 principles participated. More than 80 have confessed. The teachers I had in public schools had a higher moral standard.
Good Grief. Senator Gillibrand blames tax cuts for rising jobless numbers. Her prescription? Raise taxes on those who create jobs. Then offer them a tax break if they hire someone. Oh, and let’s not forget that she will also give them government grants. She says her plan will cut the nation’s $1.5 trillion dollar deficit by $22 billion. Whoopee!
Just Give em Grants, says Gillibrand. On the heels of a report that Obama’s stimulus package cost $278,000 for every job “saved” or “created,” Senator Gillibrand announces her plan to “revive” NY’s economy with… government grants. She is mum on the burdens of Obamacare, NY’s sky high energy costs, onerous property tax burden and regulatory climate.