Who caused the Budget deficits? Bush or Obama

Any budget experts out there that can refute the following quote? The Washington Post babbled again today about Obama inheriting a huge deficit from Bush, blah blah blah.  Amazingly enough, a lot of people swallow this nonsense.  So once more, I'll try a short civics lesson. Budgets do not come from the White House.   They come from Congress, and the party that controlled Congress since January 2007 is the Democratic Party.  They controlled the budget process for FY 2008 and FY 2009, as well as FY 2010 and FY 2011.  In that first year, they had to contend with George Bush, which caused them to compromise on spending, when Bush somewhat belatedly got tough on spending increases.  For FY 2009, though, Nancy Pelosi and Harry Reid bypassed George Bush entirely, passing continuing resolutions to keep government   running until Barack Obama could take office.  At that time, they passed a massive omnibus spending bill to complete the FY 2009 budgets. And where was Barack Obama during this time?  He was a member of that very Congress that passed all of these massive spending bills, and he signed the omnibus bill as President to complete FY 2009.  Let's remember what the deficits   looked like during that period: If the Democrats inherited any deficit, it was the FY 2007 deficit, the last of the Republican budgets.  That deficit was the lowest in five years, and the fourth straight decline in deficit spending.  After that, Democrats in Congress took control of spending, and that includes Barack Obama, who voted for the budgets.  If Obama inherited anything, he inherited it from himself. In a nutshell, what Obama is saying is I inherited a deficit that I voted for and then I voted to expand that deficit four-fold since January 20th. WAKE UP,  AMERICA, BEFORE ITS TO LATE There is no way this will be widely publicized, unless each of us sends it on! This is your chance to make a difference.

All the President's Goldman Sachs Men -- Michelle Malkin -- GOPUSA

Another chapter in the never ending saga......

All the President's Goldman Sachs Men -- Michelle Malkin -- GOPUSA

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Gangster Government Becomes a Long-Running Series -- Michael Barone -- GOPUSA

This is a hard hitting piece by Michael Barone. Normally I don't like such tough language but the truth must be told.

Gangster Government Becomes a Long-Running Series -- Michael Barone -- GOPUSA

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We the People Speak

A good friend who epitomizes the American Dream and I attended our first Tea Party on April 15th. My friend who immigrated to the U.S. from Europe after World War Two obtained a college education and earned an Engineering Degree and then entered the U.S. Air Force. He courageously served our country as a pilot in Vietnam and has had a very successful career following his retirement. I also served my country as a young Marine and though I was never in harms way it was a life changing experience. We both enjoyed the event and admired the commitment and respect displayed by so many good citizens. Today I received an email from a dear friend that included a link to the following YouTube which is well worth watching.

Aiken's Bringing Back the Constitution

NBC Augusta 26 had an interesting report on a new group being formed in Aiken. The group will have a meeting at O'Dell Week's tomorrow between 6:00 and 7:00 PM . Follow the link below to read the article and view the video.

Aiken's bringing back the Constitution NBC Augusta 26 news, weather, sports, community, entertainment, shopping for Augusta, Georgia Local News

City Journal Commentary on Britains Healthcare

The Fix Is In


Why Britain’s National Health Service spends so much and does so little

22 March 2010

Americans would do well to ponder a recent admission by a former British minister in the Blair government. On March 2, the Guardian reported that the ex-minister, now Lord Warner, said that while spending on Britain’s National Health Service had increased by 60 percent under the Labour government, its output had decreased by 4 percent. No doubt the spending of a Soviet-style organization like the NHS is more easily measurable than its output, but the former minister’s remark certainly accords with the experiences of many citizens, who see no dramatic improvement in the service as a result of such vastly increased outlays. On the contrary, while the service has taken on 400,000 new staff members—that is to say, one-fifth of all new jobs created in Britain during the period—continuity of medical care has been all but extinguished. Nobody now expects to see the same doctor on successive occasions, in the hospital or anywhere else. more

The Art of Economiccs

I know tha Economics is a subject many wish to avoid. I fervently wish the Obama administration and congress would take the time to read and understand the following article.My thanks to Pat and Elizabeth Paterniti for sending it to me.

FOXNews.com

March 17, 2010

The Art of Economics

Mallory Factor

Here's why America needs to listen to Arthur Laffer.

Like any field, economics has its trends and fads. Recently, Keynesian economics has been in vogue. Based on the work of British economist John Maynard Keynes, Keynesian economics urge governments to increase their spending and to stabilize the economy in crisis periods. The Obama administration has tried to explain its response to the current financial crisis in terms of the application of Keynesian principles. But as many conclude that our government’s responses have been flawed as well as expensive, it’s time to listen to the advice of another major 20th century economist—Arthur Laffer.

If most Americans have heard of Arthur Laffer at all, it’s probably because of the Laffer Curve, a simple chart that shows that raising tax rates does not necessarily produce greater tax revenues. Laffer first demonstrated the idea to the White House during the Ford Administration; later, it became famous as the idea behind the Kemp-Roth tax cuts that fueled the tremendous economic boom of the Reagan years.

Laffer is one of the most important 20th century economists, but his greatest work may actually be in the 21st century. That’s because he is warning us now that if America doesn’t change its economic course, quickly, we are in for bad times ahead.

To explain, Laffer looks to a few simple axioms on which the field of economics is based – rules that predict how both economies and individuals will behave when faced with a set of choices. For instance, the law of supply and demand explains a great deal of how the economy works – when demand for a particular good increases, supply and demand will eventually equilibrate at a new equilibrium price and quantity.

Right now, Laffer warns that simple economic principles are pointing to a potential macroeconomic meltdown.

First, government borrowing continues at alarming rates. The federal budget deficit is expected to top $1.5 trillion this year, even exceeding last year’s staggering deficit of $1.4 trillion, and Congress recently expanded the national debt ceiling by a similar amount. Federal spending on bank and auto bailouts and stimulus all adds up. All this spending must be financed somehow, and the patience of our Chinese, Japanese, and Arab creditors may one day run out.

Laffer’s second point is that the supply of money continues to grow. The monetary base, which is the narrowest measure of the money supply or total amount of money in the economy at a particular point in time, has just reached an all time high. Left unchecked, the high supply of money could fuel inflation. Unfortunately, the Federal Reserve is caught in a Catch 22—if they decide to fight inflation they will have to sell about $1 trillion worth of government bonds alongside a Treasury auctioning off record amounts of bonds to finance record deficits. Given the fiscal backdrop, were the Fed to go from being a huge net purchaser of bonds in 2009 to a big net seller in 2010, interest rates would be sure to rise drastically, pushing the economy into recession yet again.

Laffer’s third point is that taxes are high and likely to go up from here. Our corporate taxes are already the second-highest among the advanced economies in the Organization for Economic Cooperation and Development. For individuals, the Bush tax cuts expire next year, which will send personal income tax rates, dividend and capital gains tax rates, and estate tax rates higher. Unless Congress passes another fix, the sharply higher Alternative Minimum Tax will snare millions of middle-class taxpayers, instead of the uber-wealthy it was originally designed to target. And that doesn’t even count proposed tax increases in relation to health care reform or climate change legislation. As the incentives to work, save, and invest are all decreased via increased marginal tax rates, economic growth is sure to suffer.

Finally, Laffer points to trade issues. Rather than opening ourselves to trade with the world, we are increasingly cutting ourselves off from it. It’s a basic principle of economics that trade benefits both parties to a transaction, but rather than seeking to negotiate trade agreements with countries around the world, we are not ratifying the ones we have negotiated, and we’re imposing tariffs on China – the very country we need to finance our budget deficit! Open trade will help us move toward the jobs of the future rather than inefficiently seeking to hold on to the jobs of the past.

Laffer is right: no economy can long prosper if it is overspending, increasing tax rates, printing too much money, restricting trade, and increasing regulations. It’s simple, really – but the potential consequences if we don’t change economic course soon could be profound. So the Lafferian response to the economic crisis is simply to take the opposite track and embrace pro-growth economic policies: reform the tax system by moving toward a broad-based, low flat-tax; address the looming unfunded liabilities crisis; decrease the size and cost of government; reinstate a sound and stable money; support free trade for all; and repeal ill-conceived regulations. By turning away from Keynes and toward Laffer, America can begin to grow again and we can all recover.

Mallory Factor is the co-chairman and co-founder of the Monday Meeting, an influential meeting of economic conservatives, journalists and corporate leaders in New York City. Mr. Factor is a well-known merchant banker and speaks and writes frequently on economic and fiscal topics for news stations, leading newspapers and other print and online publications. Mr. Factor writes frequently for the Fox Forum and is seen regularly on Fox News Channel. Mr. Factor can be reached at mallory.factor@malloryfactor.com.

Health Care and Term Limits

As many readers know I am a believer in term limits and have said so on this blog several times. The blatant disregard of the will of the majority of citizens regarding healthcare now taking place makes a compelling argument for a constitutional amendment to limit the terms of Congressional Representatives and Senators.Far too many of them worry more about their career jobs than they do about doing what's right.. Consequentially they can be bought or blackmailed or otherwise coerced by the party whips to follow the leader or lose support and meaningful committee asignments.

I spent four days this past week in the Aiken Regional Medical Center due to an emergency. With excellent care from Doctors, nurses and staff I am at home today in good health but alas very poor spirits awaiting the final decision on the Obama adminstration's health care "reform." If, as expected, the White House succeeds in ramming through this abomination I am afraid that in the near future I and many millions of patients with emergency conditions will not be so fortunate.

Our elected officials should be role models for the nation rather than "roll models" who go along to get along. The time has come to join together and demand that a referendum on term limits be held to let the people decide whether or not to amend the constitution. Let the people decide!

The following poem expresses the problem we have with the present system. It was inspired by a similar piece written by Michael Schenkler of the Queens Tribune concerning elections in Queens:

Here, there and everywhere

The Incumbents always win,

Their primary focus is to insure,

That the “ins,” are always in.

It’s of little import what they do,

Their record is of little matter,

They raise the bucks, work the PACs,

Anything to make war chests fatter.

Without fail they make the sale

Name recognition can’t be beat,

With all the funds and paid-for-mail,

It’s always another term repeat.

And so we have it for good or not

With hardly any exception

If an incumbent’s name is on the ballot,

He or she will win election.

You ask how to change the game

Just look hard at all in the race

Study accomplishments not the name

Dare to be bold to select a new face.

I know it is difficult to deny your “friend”

Who every few years solicits your vote

But if our uncritical habits we fail to amend

Our nation soon will be of little note!

So there you have it my friends. Since we do not yet have the term limits I advocate let's show very many incumbents the gate . Our country will surely benefit from  new faces in public places.

Rep. Paul Ryan on Health Care Reform-Washinton Post

Congressman Paul Ryan of Wisconsin writes on Health Care reform. He is a real American hero.

Paul Ryan - Rep. Paul Ryan on what real health reform should look like - washingtonpost.com

Congressman Rogers of Michigan Has it Right

The Obama administration appears confident that it will succeed in pushing through its health care legislation. Maybe they will and maybe they won't. So far they don't have the votes but in the end it will depend on how many lemmings will follow them off the cliff. The following youtube is worth watching.

Back Room Deals

This link will take you to another sad tale exposing the way Congress does its business. Unfortunately both parties have engaged in this sort of shenanigan over many years to the detriment of our country but never have the stakes been as high as they are on Obamacare. We are already encumbered by a massive unfunded liability for Medicare and it will only get worse. There are many problems with the current system. Reform is needed but the plan being muscled through Congress is a disaster. We can only hope that love of country and pressure from irate consituents will move a sufficient number of elected officials to block the arrogant misuse of power that the Obama administration and some elected officials in Congress are displaying.

Charles Krauthammer on the Age of Obama

Charles Krauthammer has again shown his remarkable intellect in this lecture given at the Heritage Foundation. Go here. 

The Hottest Hoax in the World

A view from India on global warming or climate change or whatever else you want to call it. Given the fact that Al Gore has enriched himself on this issue maybe we should simply call it the Greatest "Con Job" the world has ever known.

UPDATE -Here is more ugly news on Con jobs.. The new Obama budget contains a secret stash from anticipated Cap and Trade revenues.

The Hottest Hoax in the World OPEN Magazine

SC Blog exposes Bauer's "Transparency"

Transparency is sadly lacking at all levels of government and the Obama administration has been relentless in its pursuit of imposing its agenda on a country that rejects much of it and most especially Obamacare.. He promised openess and transparency and what have we been given? More of the same kind of rotten back room deals he so eloquently and and I might add hypocritically condemned while campaigning. Promises need to be kept!

Transparency in government has become the buzzword in politics and the South Carolina Policy Council does an excellent job of fighting for it here in South Carolina. Aiken City Councilman Dick Dewar has done a great deal to increase government transparency here in Aiken, South Carolina and our elected officials have given it their full support. Gubernatorial candidate Nikki Haley has been the leader on transparency at the State level and we also applaud her efforts.The following link will take you to the Bauer story.
 
The Nerve






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The State of the Union

We are all anxiously awaiting President Obama's state of the union address.My personal opinion is that we are in desperate condition and only a real change of direction can save us. I opposed President Obama's election because I had studied his background and associations with terrorist William Ayers and his America hating preacher. The only upside to his election was that America proved that skin color was not important. His message of hope and change though ill defined was brilliantly delivered and 53 percent of Americans elected their first black President. After he was elected I naively believed or perhaps only hoped that he would strive to be a President for all the people. Unfortunately this has not been the case and despite the strong messages that have been sent to his administration from Americans of every political persuasion it sounds as though he and his team of czars and other far left leaners are determined to prove that big brother knows best. I hope I am wrong!

I Missed This!

Somehow I missed this youtube video that was was also posted on Powerline.Reportedly it was forced off of Youtube but is now back.

Scott Brown Beats Martha Coakley - WSJ.com

 The WSJ has an excellent report on Scott Brown's victory in Massachusetts. The tea is in the harbor- next the Revolution. A center right coalition of Americans will rescue their country from those undemocratic forces that are trying to take us in the wrong direction. Thank you Scott Brown and the citizens of Massachusetts for the inspiration.

UPDATE- The first sign that the White House has heard the message comes from David Axlerod



Scott Brown Beats Martha Coakley - WSJ.com

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MA Senate Race- New Poll, Brown Leads « Liveshots

As the whole world looks on at the horror unfolding in Haiti many may be too distracted to pay enough attention to the Massachusetts senate race;  Massachusetts has always been a progressive state with many independents and they hold the key to defeating this awful health care bill. Health care does need to be reformed and many good ideas have been bruited by politicians on both sides but the shameless trickery  now taking place is not the way. Such important legislation must have bi-partisan support and that has not been sought in any reasonable way. The old saying "power corrupts......" comes to mind. The following report gives me some hope that the patriotic citizens of Massachusetts will once again cast a deciding vote for the good our wonderful republic.
MA Senate Race- New Poll, Brown Leads « Liveshots

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Rescueing Coakley in Massachusetts

To show you what a scary world we live in- This blog has been online for a matter of hours and already a Google  ad has been placed by the  SEIU - Service Employees International Union. The ad consists of a youtube purporting to be favorable to a TEAParty but it is cleverly edited.By time I got around to this posting  it had disappeared but it will be back.  For another look at the SEIU go here

Scott Brown is doing very well against Coakley and raised 1.3 million last night. To contribute to his campaign go here.

homylafayette Iran News in English: Tehran University professor Massoud Alimohammadi assassinated: fact and fiction

You will have seen the news story of the assassination of a Tehran University Professor today. The following link will take you to an interesting account. It is so sad that our government is still playing around. Talking tough and doing nothing. Weakness on the part of our leaders is a go ahead signal for terrorist leaders such as though who rule Iran.It is ironical that the current opposition is a replay of the feelings that lead to the demise of the Shah who was not as repressive. Those good young idealists who yearned for freedom and democracy made a pact with the devil and were over time consumed by that theocracy that is now in control.


homylafayette Iran News in English: Tehran University professor Massoud Alimohammadi assassinated: fact and fiction

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