Showing posts with label debt limit. Show all posts
Showing posts with label debt limit. Show all posts

Friday, July 15, 2011

The BEST take on the "debt crisis" I have heard

I have spent a lot of time watching and listening to the debate on the disagreement surrounding raising the debt limit. This is the best, short, analysis I have heard. This is Krauthammer, who gets it.

-- Storm

http://www.realclearpolitics.com/video/2011/07/12/krauthammer_obamas_sudden_interest_in_cutting_debt_a_farce.html

Tuesday, July 5, 2011

Happy Birthday Brokistan!

Great piece I saw in OC Register around Independence Day by Mark Steyn.

Dozens of countries have “Independence Days.” Nov. 25, for example: Independence Day in Suriname. In that instance, as in most others, the designation signifies nothing more than transfer of de jure sovereignty and de facto operational control from a distant European capital to a more local regime. 1975 in Suriname's case. They had the first military coup seven years later.

But in America “Independence” seemed as much a statement about the character of a people as a designation of jurisdictional status. The first Americans were British subjects who had outgrown a British king as benign and enlightened as any ruler on the planet. They demanded “independence” not from foreign rulers of another ethnicity but from their own compatriots with whom they had a disagreement about the nature of government. Long before the Revolutionary War, small New England townships governed themselves to a degree no old England towns did. “Independence” is not about the replacement of a king in London with a president in Washington but about the republican virtues of a self-reliant citizenry free to exploit its own potential.
Please, no snickering. The self-reliant citizen? In the damning formulation of contemporary American vernacular, he's history – as in over and done with, fuhgeddabouttim. What's left of that founding vision on this less than Glorious Fourth of July 2011 in the Brokest Nation in History? “You go talk to your constituents,” President Obama taunted Republicans on Wednesday, “and ask them are they willing to compromise their kids' safety so that some corporate jet owner continues to get a tax break?”

In the Republic of Brokistan, that's the choice, is it? Give me safe kids or give me corporate jets! No corporate aviation without safe kiddification! In his bizarre press conference on Wednesday, Obama made no fewer than six references to corporate jet owners. Just for the record, the tax break for corporate jets was part of the “American Recovery and Reinvestment Act of 2009” – i.e., the stimulus. The Obama stimulus. The Obama-Pelosi-Reid stimulus. The Obama-Pelosi-Reid-Democratic Party stimulus that every single Republican House member and all but three Republican senators voted against. The Obama-Corporate Jet stimulus that some guy called Obama ostentatiously signed into law in Denver after jetting in to host an “economic forum.”

Charles Krauthammer did the math. If you eliminate the Obama-Pelosi-Reid Corporate Jet Tax Break, you would save so much dough that, after 5,000 years, you would have clawed back enough money to cover one year of Obama's debt.
I see some leftie at MSNBC has just been suspended for characterizing the president's performance Wednesday as that of a demotic synonym for the male reproductive organ. So I shall be more circumspect and say only that even being a hollow unprincipled demagogue requires a certain lightness of touch Obama can't seem to find.

Speaking of corporate jets, did the president fly commercial to Denver? Oh, but that's different! He's in “public service.” A couple of weeks before he flew Air Force One to Denver, he flew Air Force One to Williamsburg, Va. From the White House (well, via Andrews Air Force Base). That's 150 miles, a 30-minute flight. He took a 747 for a puddle-jump across the Potomac.

Oh, but it was for another “economic forum.” This time with House Democrats – the ones who voted for the Obama Corporate Jet Tax Break. “Economic forums” are what we have instead of an economy these days.

Aside from the Sultan of Brunei and one or two similar potentates, no other head of state goes around like this. In a self-governing republic, it ought to be unbecoming. But in the Brokest Nation in History it's ridiculous. And the least the beneficiary of such decadence could do is not lecture those who pay for their own transportation. America's debt is an existential crisis, and playing shell games with demonizable irrelevancies only advertises your contempt for the citizenry.
By the way, one way to cut back on corporate jettage would be to restore civilized standards of behavior in American commercial flight. Two weeks ago, a wheelchair-bound 95-year-old woman at Northwest Florida Regional Airport flying to Michigan to be with her family for the final stage of her terminal leukemia was made to remove her adult diaper by the crack agents of the Transport Stupidity Administration. George III wouldn't have done this to her.

Oh, c'mon, do you want to compromise your kids' safety in order to give grope breaks to dying nonagenarians? A spokesgroper for the Transport Stupidity Administration explained that security procedures have to be “the same for everyone” – because it would be totally unreasonable to expect timeserving government bureaucrats to exercise individual human judgment.
Oddly enough, it's not “the same for everyone” if you're Olajide Oluwaseun Noibi from Nigeria, who on June 24 got on a flight at JFK with a college ID and an expired boarding pass in somebody else's name. Why, that slippery devil! If only he'd been three-quarters of a century older, in a wheelchair and dying of leukemia, we'd have got him! He was arrested upon landing at LAX, and we're now going to spend millions of dollars prosecuting him. Why? We should thank him for his invaluable expose of America's revolting security theater, and make him head of the TSA.

What else isn't “the same for everyone”? A lot of things, these days. The president has a point about “tax breaks”. We have too many. And on the scale of the present tax code that's a dagger at the heart of one of the most basic principles of free societies – equality before the law. But, of course, the president is not opposed to exemptions and exceptions and special privileges on principle: After all, he's issued – what is it now? – over a thousand “waivers” for his own Obamacare law. If you knew who to call in Washington, maybe you got one. If you didn't, tough.
But that's the point. Big Government on America's unprecedented money-no-object scale will always be profoundly wasteful (as on that Williamsburg flight), stupid (as at the TSA) and arbitrary (as in those waivers). But it's not republican in any sense the founders would recognize. If (like Obama) you're a lifetime member of the government class, you can survive it. For the rest, it ought to be a source of shame to today's Americans that this will be the first generation in U.S. history to bequeath its children the certainty of poorer, meaner lives – if not a broader decay into a fetid swamp divided between a well-connected Latin-American-style elite enjoying their waivers and a vast downwardly mobile morass.

On Independence Day 2011, debt-ridden America is now dependent, not on far-off kings but on global bond and currency markets, which fulfill the same role the cliff edge does in a Wile E Coyote cartoon. At some point, Wile looks down and realizes he's outrun solid ground. You know what happens next.
That's all, folks!
©MARK STEYN

Wednesday, June 15, 2011

Class Warfare, the latest version...

Expect our media to fall right in line on pitting "millionaires and billionaires" against everybody else as the Democrats try to shift blame to the Republicans over the coming debt limit showdown. The Great Uniter -- he is not.

Biden Digging for Tax Hike Deal
By Chris Stirewalt
Published June 15, 2011
| FoxNews.com

Dems Try to Retake High Ground on Economy


“The ‘Affordable Health Care Act’ was not as affordable as we expected.
The ‘Open Government Initiative’ was not as open as we expected.
The ‘stimulus’ was not as stimulating as we expected.”

-- Suggestions from the office of Speaker John Boehner for follow up “jokes” to the one President Obama made in North Carolina Monday that “‘shovel-ready’ was not as ‘shovel-ready’ as we expected.”

The lousy economy has helped push Democrats to the negotiating table in a bid to cut a deal to increase the federal government’s $14.3 trillion borrowing limit, but the blue team is still hoping to gain some leverage from the nation’s economic woes.
In order to keep their party’s rank and file on board, Democratic negotiators, led by Vice President Joe Biden, need to offer some kind of a tax increase as part of a package of cuts being negotiated with Republicans.
But if the deal includes a tax hike on incomes above $200,000, or anything else, Republicans won’t be able to deliver the seven Senate votes and 24 House votes needed to pass a plan that had unanimous Democratic support.
The gambit from the administration now is to offer an extension and expansion of President Obama’s payroll tax cut in a bid to spur hiring and to offer Republicans a trade off in favor of a tax hike on high-income earners.
An aide to one senior House Republican described the possibility of a tax rate increase in exchange for the extension of a temporary tax break on payrolls as “a non-starter,” but the administration is desperate to get a deal and look active on the economy.
The Republican complaint about the Obama payroll tax break is that it is too small to jolt the economy back on the wrong track. Obama has long favored the imperceptible tax break, like the one in his 2009 stimulus that put another $6 in the weekly paychecks of most workers. The theory is that the money is spent quickly helping the economy.
Republicans, meanwhile, favor low rates overall and lean toward shock and awe when it comes to tax cut stimuli. Recall that one Republican plan for the 2009 stimulus was to simply zero out the payroll tax for the remainder of that year, rather than a small adjustment.
Biden’s group meets again today. While there is new optimism about the size of the cuts that can be achieved, the looming question remains about taxes.
With Democrats taking a pounding over the condition of the economy and Republicans still denouncing Obama’s joke about the failures of his stimulus package, Democrats may eventually be convinced to drop calls for a tax hike.
But for now, the White House is still looking for a trade off. The president’s chances for getting his hike will be enhanced if Democrats can’t paint Republicans as protecting “millionaires and billionaires” while opposing a little more pocket change for the middle class.
The Democratic counterattack begins anew today.


Read more: http://www.foxnews.com/politics/2011/06/15/biden-digging-for-tax-hike-deal/#ixzz1PMOkl5vP