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POPSMaxing Out The Race Card In contrast, what has Barack Obama done since becoming president? " Increased taxes to pay for the S-CHIP expansion, supported a cap and trade bill that amounts to a $1,500 to $4,000 tax increase on every American family, and has discussed tax increase to pay for his health care scheme. " Spending increases " a massive “stimulus,” a massive expenditure bill with 9,000 earmarks, and his trillion dollar plus health care scheme, $9 Trillion in deficit spending. " Government programs as morality, i.e. “God wants you to support nationalized health care.”) " Government funding and promotion of abortions " Mandates to buy health insurance " Appointing those who don’t pay their taxes and should to Cabinet and key advisory positions.
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POPSWhy the 10th Amendment movement? "We know, they intend to control our resources, it’s written in the Cap and Trade Bill." "We know, they intend control of our very lives, it’s written in the Health Care Bill." "We know,they intend to control our votes, the 2010 census is now controlled by the white house and the ones registering voters are corrupt" "We watch and wait as they install unaccountable czars for dictating not representing" "We watch and wait as they increase “organizer” funding from millions to billions of our tax dollars. And we wonder how these groups will be used to steal our life, liberty and property from us."
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POPSGrim Milestone... US Deficit Passes $1,000,000,000,000 For First Time Ever The country's soaring deficits are making Chinese and other foreign buyers of U.S. debt nervous, which could make them reluctant lenders down the road. It could force the Treasury Department to pay higher interest rates to make U.S. debt attractive longer-term. "These are mind boggling numbers," said Sung Won Sohn, an economist at the Smith School of Business at California State University. "Our foreign investors from China and elsewhere are starting to have concerns about not only the value of the dollar but how safe their investments will be in the long run." Fox News How about that Stimulus Bill? Obama will quadruple the US budget deficit his first year in office. And, he wants to spend trillions more for his Obamacare program. Related... Rep. Mike Pence said today that the Stimulus Bill is not working. Yeah, we know. Posted by Gateway Pundit
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POPS America's Hidden Trillion-Dollar Tax We need a breather to take it all in: TARP, a $787 billion stimulus bill and a projected $1.845 trillion budget deficit. But lost among all the spending commotion is yet another trillion-dollar poker hand — federal regulation. Compliance costs from thousands of regulations — pouring out from over 60 departments, agencies and commissions — amounted to $1.17 trillion in 2008. The federal government spends an additional $49.1 billion just to administer and enforce its rules. How To Hide Trillions When doing business becomes so expensive, there tends to be a lot less of it. Of course, businesses pass on their costs, so regulation becomes a hidden trillion-dollar tax on consumers. This is bad policy at any time. During a recession, it's economic hara-kiri. Even as the economy dipped into recession, agencies issued 3,830 new final rules. As you read this, 4,004 new federal regulations fill the pipeline, 753 of which affect small businesses.
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POPSWANTED: Congressional Representatives Who Can Read Remember how the trillion dollar spending and debt package promoted under the guise of "economic stimulus" was passed without a member of Congress actually having read the bill? If the Tea Party movement is any indication, taxpayers were really upset about that - and rightfully so. Now, as we're staring down the barrel of another horrible bill consisting of hundreds of pages - the Waxman-Markey Cap-and-Trade tax hike bill - Democrats on the House Energy and Commerce Committee prepared themselves for a possible GOP attempt to slow down the process by - rightfully - requesting a reading of the 946-page bill including major amendments. video (2:37) http://www.atr.org/speed-reading-waxman-markey-cap-trade-a3278
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POPS Seeds Of Discontent a document that painted those who disagree with the left-wing bent of the current federal government as "right wing extremists." This overly-broad threat assessment painted a significant number of Americans as potential domestic terrorists for sharing one or more mainstream conservative values. The story broke just one day before hundreds of grass-roots protests involving more than a quarter-million Americans took place against excessive government spending in what were promoted as non-partisan TEA (Taxed Enough Already) parties. This report was sent to police agencies nationwide, much to the disgust of the chairman of the House Homeland Security Committee, Bennie G. Thompson (D-MS), and over the objections of the DHS Civil Rights officials as well. It is perfectly normal for a political party out of power to feel disenfranchised, and the wailing drama of the minority can indeed be both obscene and absurd as we've noted abundantly during recent years.
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POPS Mr. President, Now You Own It
That's an obliteration of wealth that no stimulus bill will recoup. Since Election Day, the market has lost nearly 30 percent of its value -- trillions of dollars, not from CEO bonuses, as you may have hoped, but from your 401(k) and the private sector. You know, Mr. President, not everything is like politics. The market is a forward-looking entity, indeed, but it is driven by the decentralized actions of millions of investors every second. It's the opposite of politics. And this setup surely offends the sensibilities of the statist planners occupying Washington. Unlike politicians, markets don't lie. Obama, who promised not to raise taxes during a recession, now plans to raise nearly $1 trillion in new taxes directly from the investor class. He plans to raise capital gains taxes a disincentive to investment, corporate taxes for you, the consumer, ultimately to pay and on the "rich" which the nonpartisan Tax Foundation estimates will affect 1.3 million small-business owners.
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POPSThe Limitations of Econometric Computer Models A nearly identical pattern emerged in our present financial collapse, beginning with the subprime mortgage meltdown. Some of the world’s most sophisticated computer jocks modeled some of the most complex financial instruments in history. A vast network of risk swaps among the world’s major financial players was constructed to hedge against all foreseeable risks. However, the computer modelers failed to foresee combinations of circumstances that would quickly undermine the risk protections built into their models. Once again, unanticipated confluences of market conditions kicked the slats from under this vast financial structure. To dig out of this economic debris, the nation is rolling the dice with the largest financial wager ever made: President Obama’s stimulus bill.
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POPSObama's Trillion-Dollar Week That's with an 'M', no perhaps 'B'... no apparently all the way to 'T' now. It'll be interesting to look back in a year and see how much this obscene amount of money actually accomplishes for the economy and for the country.
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POPSDemocrats' Midnight Stimulus Power Play The objective appears to be to produce a final conference report on the trillion-dollar spending bill by this afternoon so that floor action can take place in both chambers by Thursday. They intend to ram this trillion-dollar spending bill through with as little debate and scrutiny as possible. The House voted unanimously yesterday in support of a Republican measure stating that the American people should have 48 hours to review the bill prior to passage. Will Democrats follow through? Or will they do the opposite of what they voted to do yesterday? Yes, this is Mr. Obama’s post-partisan politics. This is the open and honest leadership the Democrats have been promising us.
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POPSJob Casualities Mount In Obama's War On Prosperity President Obama is facing growing questions about his tone and the effectiveness of his leadership after he spent Thursday night mocking his political rivals and accusing them of playing games with the economic stimulus. In an off-the-cuff moment during his speech to House Democrats at a retreat in Virginia, the president ribbed Republicans, including former rival John McCain, who call the recovery package a “spending bill.” “So then you get the argument, ‘well, this is not a stimulus bill, this is a spending bill.’ What do you think a stimulus is? That’s the whole point,” Obama said to laughter.
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POPSFight Special Interests That Want To Take Your Money Last week, the trillion dollar, unprecedented explosion in federal spending misleadingly called a "stimulus" package passed a vote in the House, but all the House Republicans and 11 House Democrats stood up to Nancy Pelosi and voted 'no' to bigger government, more debt, and more wasteful programs. The bill needs 60 votes to pass in the Senate. We have the public on our side, and with enough grassroots pressure we'll win!
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POPSInhofe Statement on Stimulus Compromise WASHINGTON, DC - cc, issued the following statement tonight after the announcement of a compromise on the Senate stimulus bill. "The good news tonight is that the American people are catching on to the fact that this is the largest spending bill in history and are becoming more and more vocal in their opposition. My offices in Oklahoma and Washington DC have been flooded with emails, phone calls and faxes overwhelmingly opposed to this trillion dollar legislation. They can rest assured that my vote remains an unwavering ‘no.'"
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POPSWe 'Hope' Spending Will Lift Us Out Of Debt If Barack Obama was truly serious about helping the economy, he would push across-the-board cuts for all federal agencies not directly involved basic safety and security, impose a government hiring freeze so that the size of the government would shrink through natural attrition, and lower various taxes so that companies would be encouraged to grow their businesses. Such a plan isn't too far off from what I've heard some conservative Democrats and Republicans are promoting. But I don't think Barack Obama really cares all that much about getting America out of this recession. He seems far more interested in using the economy as a weapon of fear to impose an ideological agenda. I hope he enjoys the euphoria of his brief popularity while it lasts. It is melting rapidly, and unlikely to last the coming spring thaw.
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POPSWhy I don't like Obama's new stimulus package
This is exactly why I don't like the new Obama stimulus package. Like I have been saying all along, we are going into a depression, not a recession. Depressions are caused by huge buildups of debt and then the debt destruction that comes with the large credit bubbles. Recessions are hiccups in the buildup of debt that can be cured by jump starting the addition of new debt. The bubble has popped. This is not a hiccup in the build up. So adding new debt just makes the problem worse. Here are some details of the new stimulus package and why it's only going to make things worse. "...there is $54 billion in the bill in the House of Representatives for new forms of "American energy," a phrase with an air of nationalism, along with a series of 'Buy America" requirements of dubious legality under trade treaties; $141 billion for education; $24 billion for lowering health care costs; and $6 billion for broadband service..." etc. etc. Colleague Porter Stansberry adds this assessment
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POPS Congratulations, Mr. President! The Multi-Generational Financial Rape Act—a 1.1-trillion dollar pork-laden monstrosity of self-serving governmental bloat .and at least the Republican leadership and some Blue Dog Democrats have the good sense to recognize that this Obama/Pelosi wish list is going to crush the economy, not help it.
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POPSSome Facts on "Stimulus" The bill provides enough spending – $825 billion – to give every man, woman, and child in America $2,700. $825 billion is enough to give every person in Ohio $72,000. Although the House Democrats’ proposal has been billed as a transportation and infrastructure investment package, in actuality only $30 billion of the bill – or three percent – is for road and highway spending. etcetera, etcetera
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