Veer Right

“Harvard economist Robert Barro calls the [stimulus] legislation “probably the worst bill that has been put forward since the 1930s.””

“In February, President Barack Obama signed a $787 billion stimulus bill while making lavish promises about the results. He pledged that “a new wave of innovation, activity and construction will be unleashed all across America.” He also said the stimulus would “save or create up to four million jobs.” Vice President Joe Biden said the massive federal spending plan would “drop-kick” the economy out of the recession.

But the unemployment rate today is 9.5% — nearly 20% higher than the Obama White House said it would be with the stimulus in place. Keith Hennessey, who worked at the Bush White House on economic policy, has noted that unemployment is now higher than the administration said it would be if nothing was done to revive the economy. There are 2.6 million fewer Americans working than Mr. Obama promised.

…Mr. Obama outsourced writing the stimulus to House appropriators who stuffed it with every bad spending idea they weren’t previously able to push through Congress. Little of it aimed to quickly revive the economy. More stimulus money will be spent in fiscal years 2011 through 2019 than will be spent this fiscal year, which ends in September.

…The stimulus package is a clear example of how Mr. Obama operates.  …tactics of bait-and-switch.  …His promised savings are a mirage. His proposals to reshape the economy are alarming. And his unwillingness to be forthright with his numbers reveals that he knows his plans would terrify many Americans.”

- Karl Rove, WSJ – Read the Full Article

Now the numbers are showing that the stimulus was a sham.  Those of us doing our homework and reading the bills being passed by Congress know that the Obama stimulus was a sham.  So far we have gotten a $787 billion “stimulus” bill riddled with earmarks.  Now a few weeks later, he signs a $410 billion bill riddled with earmarks.  This bill has over 9,000 earmarks.  Added to all this is Obama’s ridiculous budget.  This is not a leader, but an ideologue.  A great leader alters his plans based on the circumstances he finds himself him.  He adapts.  Obama has his blinders on.  All these Hope and Changers are going to be sadly mistaken when the economy tanks because of this man’s ideology which wants to turn this country Socialist.  When the bread lines start forming, what will Obama do?  He will celebrate because he thinks he can do a Hugo Chavez and recind the US Constitution in the chaos that ensues.  This is such a joke!  Obama said:

“My administration has also begun to go line by line through the federal budget in order to eliminate wasteful and ineffective programs.  As you can imagine, this is a process that will take some time, but we have already identified $2 trillion in savings over the next decade.”

He hasn’t gone line by line over the stimulus or this omnibus bill.  Do you really think he is going over the budget line by line when he can’t even read over his own bills?  Obama is a liar flat out. Whatever he says, the opposite is the truth.  The $787 billion bill will have a negative effect on our GDP until 2019 according to the CBO.  By the way a negative GDP means the economy is in a recession.  The economy will have to more than recover in order to overcome the waste and reckless spending of this so called stimulus bill and this reckless administration.

The left keeps saying well the Republicans and George W Bush were reckless spenders. Well being a fiscal conservative I agree. Obama’s spending dwarfs any spending that has been done in the past 8 years. Obama’s budget will spend more in the next five years than has been spent since George Washington up to George W Bush.

“The budget more than doubles the national debt held by the public, adding more to the debt than all previous presidents — from George Washington to George W. Bush — combined.” – WSJ

Not even Team Obama can forestall unpleasant reality. And among those America now faces is Mr. Obama adding $3.2 trillion to the national debt in his first 20 months and 11 days in office, eclipsing the $2.9 trillion added during the Bush presidency’s entire eight years.

Another reality is that Mr. Obama’s fiscal house is built on gimmicks. For example, it assumes the cost of the surge in Iraq will extend for a decade. This brazenly dishonest trick was done to create phony savings down the line.

Mr. Obama’s budget downplays some programs’ true cost. For example, his vaunted new college access program is funded for five years and then disappears (on paper); the children’s health insurance program drops (on paper) from $12.4 billion in 2013 to $700 million the next year. Neither will happen; the costs of both will be much higher and so will the deficits.

Mr. Obama’s budget also assumes the economy declines 41% less this year and grows 52% more next year and 38% more the year after than is estimated by the Blue Chip consensus (a collection of estimates by leading economists traditionally used by federal budget crunchers). If Mr. Obama used the consensus forecasts for growth rather than his own rosy scenarios, his budget would be $758 billion more in the red over the next five years.

Then there’s discretionary domestic spending, which grows over the next two years by $238 billion, the fastest increase ever recorded. Mr. Obama pledges it will then be cut in real terms for the next nine years. That’s simply not credible.

Then there’s his omnibus spending bill to fund the government for the next six months, laden with 8,500 earmarks and tens of billions in additional spending above the current budget. What happened to pledges for earmark reform and making “meaningful cuts?” – Read the full article

I ask all of the Obama supporters, is this the CHANGE you voted for? Experts are saying inflation is going to hit hard and the dollar will be worth very little in the next few years because of all this reckless spending. Obama can keep on lying, but the principles of economics are still in effect, and he can’t stop the inflation that is about to hit.

I don’t have a problem with Muslims, but I do have a problem with those forcing Shariah law in the West. It violates separation of church and state and should not be allowed in the United States in any form.

Obama’s reckless spending has run up the largest deficits in US history in less than 6 months in office. Obama is 100% responsible for this since the nearly $800 billion stimulus was his idea. When he took office only half of the TARP money had been spent. If he were fiscally responsible he would have used the other half for the stimulus. No he wasted the rest of the TARP money while forcing through a horrible so called stimulus that was an ideological spending spree for his Democrat buddies. Now he wants Pay as you go which is good, but what about the mess you just created. I’ll believe it when I see it. This is Obama’s mess and cutting $100 million from a $3 trillion is not cutting the budget. This is propaganda that the Hope and Changers can believe in and the in the tank main stream media can propagate.

Finally the press is realizing that Obama is stifling the press. I’ve said many times since Obama has been elected that I feel as if I’m living in a Communist Country. The media is simply an extension of the white house. Now parts of the media are starting to wake up. Will it be in time? Obama is doing a Hugo Chavez type take over of the media. He started with the Fairness Doctrine and now is controlling questions in his town hall and white house press meetings.

The House of Representatives has passed the destructive Waxman-Markey bill.  How smart is it to force a global warming tax bill that will affect the incomes of all Americans – rich or poor during a recession that may turn into a Depression?  In fact some analysts have called this a depression.  This is ideological garbage that America does not need.  All the Obamaites will wake up come next year when their discretionary income has shrunk because of higher gas, electricity, and food costs.  Last Summer was just a taste of high gas prices will go.  We ain’t seen nothing yet.  Add to this the fact that the dollar’s purchasing power will weaken as inflation takes off because of the massive bloated spending being done by Barack Obama and this Democratic Congress.  The Hope and Change crowd is about to get a rude awakening.

Perhaps the most destructive legislation in our country’s history will, as soon as this week, be voted on in the House of Representatives: the Waxman-Markey tax bill in the guise of addressing climate change.

It will have adverse and lingering consequences for every American. It will raise the cost of electricity in our homes, the fuel for our cars and the energy that produces our manufacturing jobs, with little or no environmental benefit.

Further, independent experts estimate that it will cost Americans more than $2 trillion in just over eight years.

All Americans in the Midwest, South and Rocky Mountain regions will be most drastically affected because the climate change legislation will destroy the nation’s coal industry and the low-cost electricity it has provided to these regions for generations.

Read the Full Article

Hot Air has the list of the 8 Republicans that voted for the cap and trade bill:

Bono Mack
Castle
Kirk
Lance
LoBiondo
McHugh
Reichert
Smith (NJ)

These 8 must go.

Without question, this Democratic-led Congress and White House have been the most fiscally reckless and irresponsible in our history. These captains of the Titanic know the iceberg looms in the murky distance, but instead of taking evasive action, they’re screaming “full steam ahead” as the ship readies for impact.

It won’t take long for us to hit the ice.

Let’s see. There’s $787 billion in stimulus, $700 billion in TARP spending and hundreds of billions in bailout funds for the automakers and Fannie Mae and Freddie Mac. This year alone the spending will approach $4 trillion, 117% above the $1.8 trillion spent in 2000.

This unprecedented increase will lead to expected deficits of $1.8 trillion this year and as much as $13 trillion through 2019. Over that time, the U.S. will go from having a fairly manageable debt load to one that threatens our financial stability.

According to the CBO, at the end of 2008, federal debt held by the public (see chart above) was 41% of GDP — far less than most countries in the European Union or Japan. But it won’t last. In just two years, the debt load will leap to 60% of GDP, and to 87% by 2020 and 181% by 2035 — just 25 years away.

Read the Full Article

All I have to say is the next attack is on Obama’s head.

Yes that’s right.  Obama has ordered that miranda rights be read to detainees in the battlefield.  This has never been done before.  It goes against all legal precedents.  There is no longer a war on terror.

Well, now we know why Obama doesn’t use the term “war on terror” anymore - he doesn’t consider terrorism an act of war. Instead, he has taken us back to the days of Bill Clinton, when terrorist acts were treated like a “crime.”

In a story reported in The Weekly Standard , Representative Mike Rogers (R-Mich) is accusing the Obama administration of ordering the F.B.I. to read Miranda rights to detainees being held at U.S. military facilities in Afghanistan.

Read the Full Article

Thanks to WND:

Obama’s top health advisers have emphasized that America should value the lives of young, healthy people more than those of old, sick individuals.

One such adviser is Dr. Ezekiel Emanuel, brother of Obama’s chief-of-staff Rahm Emanuel.

Kevin Williamson of National Review Online describes Dr. Emanuel’s views:

“He wrote in The Lancet in 2008: ‘Unlike allocation by sex or race, allocation by age is not invidious discrimination.’ We all were young once, the argument goes, and so denying the elderly and weak in order to care for the young and fit is just.”

…Dr. David Gratzer, a Canadian-trained physician who practices in the United States, describes his own revelation about Canada’s medical horror show:

“On [my way to medical school class]… I cut through a hospital emergency room and came upon dozens of people on stretchers – waiting, moaning, begging for treatment. Some elderly patients had waited up to five days in corridors before being admitted to beds. They smelled of urine and sweat. As I navigated past the bodies, I began to question everything I thought I knew about health care – not only in Canada, but also in the United States. … I had begun a journey into the heart of one of the great policy disasters of modern times.”

Obama says we aren’t a Judeo Christian country. I guess he doesn’t know our history. Should we be surprised? He is not even a natural born US citizen, so why would he know the true history of the U.S.

With the recession, I became an unemployment statistic.  I’ve used this time to brush up on my investing skills.  I decided that simply buying and holding mutual funds is no longer an option for me with the reckless anti-business Obama administration in the white house.  I receive several investment letters to keep me up to date with investing.  Because of the Obama administrations reckless government spending and massive deficits, the dollar is on the decline.  Inflation and higher interest rates are on the way.  If the Republicans don’t get back in 2010, America as we know know it will no longer exist.  We will become just another noncompetitive socialist country without the opportunities our parents and we have enjoyed.

“Recent reassurances by Treasury Secretary Tim Geithner notwithstanding, China is also quietly making preparations for a post U.S. dollar era. China has set up a series of swap arrangements with other central banks, including Argentina, South Korea, Indonesia, Malaysia and Belarus, through which it will make its currency available to the other countries if they run out of foreign exchange. China and Brazil have begun talks on a scheme for bilateral trade to be settled in the renminbi and the real, rather than the U.S. dollar.

The Obama administration’s exorbitant efforts to “never waste a good crisis” as an excuse to re-shape American society in its own collectivist vision is a game changer. Its spending plans are simply off the charts. Even if China has no choice but to recycle the bulk of its reserves into U.S. Treasuries, the sheer size of the Obama administration’s expected deficit is mind numbing. A back of the envelope calculation shows that the projected U.S. deficit this year alone already matches that of all of China’s reserves. So where is the money to fund Obama’s vision going to come from? The answer is simple: the Fed has to print it. But to keep yields low is a mug’s game. Expecting the Fed to beat the bond market by buying Treasuries, mortgage-backed securities or corporate bonds is much like fighting gravity. Yes, you can overcome gravity’s effects over the short term through an extraordinary and concentrated effort. But the bond market will prevail in the long run. Sadly, that also signals the demise of the dollar.” – Nicholas Vardy