Members of Congress have made it a practice to treat the opposition
with courtesy and respect even during the most heated of disputes.
President Obama took to the airways today to humiliate and degrade the
opposition party with untoward politicized remarks. Republicans should
simply refuse to deal with him until he learns the decorum of a
statesman rather than acting like a Chicago back alley Pol. The Republican Party would be better off as would the country as a whole. There is no need to mince words.
The media complain of a dysfunctional government. They should look
closely at its source – a president in constant campaign mode ready to
demagogue any issue.
Outsiders, like this writer, are not privy to the fiscal-cliff offers
and counter offers that are being circulated, but a general knowledge
of the basic numbers and of Obama’s style of negotiating lead me to
conclude that the Republicans are being stampeded into an unacceptable
deal that raises taxes on top earners by $180 billion between now and
2015 while cancelling almost a half trillion of scheduled spending cuts
over the same period.
go to forbes.com
Paul R. Gregory's writings on Russia, the world economy, and other matters that he finds of interest.
Monday, December 31, 2012
Tuesday, December 25, 2012
President Obama’s Legacy: $20 Trillion in Deficits for 2016 Victor
The fiscal-cliff negotiations have deteriorated into an
embarrassing travesty of competing press conferences, off-the-record remarks, closed meetings, and sound bites. The Republican side is
frustrated and flabbergasted by the absence of
a concrete proposal from the President
that can be scored by the Congressional Budget Office and then “marked
up” by Congress according to standard procedures. Vague offers of so and so many trillions of
revenue increases and spending cuts spread over a decade are just words, not
real proposals.
The last serious fiscal-cliff projections date back to the
Congressional Budget Office’s (CBO) August 2012 assessment of the budgetary
effects of various fiscal policy alternatives. In its August study, the CBO
– the “gold standard” of budget
projections -- calculated the budgetary consequences of going over the fiscal
cliff in its “baseline projection.” It then projected the budgetary effects of
alternative fiscal policies, among them, extending the Bush tax cuts and
shelving the sequestered spending cuts.
We may agree or disagree with the CBO’s projections, but
they are the most authoritative we have. President Obama has been vocal with
respect to the fiscal policies he wants,
and each item on his wish list can be scored using the CBO’s August study.
Therefore, we can approximate the five-year deficits that would result if
President Obama gets what he wants. This is not rocket science. Anyone can do
this using the CBO’s excel files.
go to forbes.com
Labels:
ACA,
CBO,
entitlement reform,
fiscal cliff,
Obama deficits,
social security
Wednesday, December 12, 2012
We Have Met the Left and It's Obama
“What is motivating (Obama) primarily is ideology. And an
ideological opening. He doesn’t like the malefactors of great wealth. He
wants to “spread the wealth around.” Peggy Noonan
Anyone who dares to characterize Barack Obama as a leftist radical is heaped with scorn and outrage. Only crazy, hateful talk-show entertainers like Rush Limbaugh stoop so low, but reasonable people do not listen anyway. Whether Obama harbors socialist views is a valid topic for intellectual conversation, but, other than errant bloggers (Is President Obama Truly a Socialist?), polite people avoid it.
Many moderate Republicans bought into the media narrative that Obama is a centrist, who moves left only to placate his base. Were it not for them, the true Obama would govern from the center, or tilt only ever so slightly to the left.
Indeed, the carefully scripted Obama masterfully masqueraded as a centrist during his two presidential campaigns, while governing from the left. The complicit media characterized him as a softy, too ready to yield to the obstructionist Republicans. But if the Left would only “Watch what I do, not what I say,” Obama already delivered for them the moon, and now wants the stars as well.
go to forbes.com
Anyone who dares to characterize Barack Obama as a leftist radical is heaped with scorn and outrage. Only crazy, hateful talk-show entertainers like Rush Limbaugh stoop so low, but reasonable people do not listen anyway. Whether Obama harbors socialist views is a valid topic for intellectual conversation, but, other than errant bloggers (Is President Obama Truly a Socialist?), polite people avoid it.
Many moderate Republicans bought into the media narrative that Obama is a centrist, who moves left only to placate his base. Were it not for them, the true Obama would govern from the center, or tilt only ever so slightly to the left.
Indeed, the carefully scripted Obama masterfully masqueraded as a centrist during his two presidential campaigns, while governing from the left. The complicit media characterized him as a softy, too ready to yield to the obstructionist Republicans. But if the Left would only “Watch what I do, not what I say,” Obama already delivered for them the moon, and now wants the stars as well.
go to forbes.com
Labels:
Barack Obama,
fiscal cliff,
media bias,
Peggy Noonan,
positive rights,
socialism
Wednesday, December 5, 2012
The Liberal Left's Dirty Little Secret: The Middle Class and Poor Pay For the Entitlement State
Europe’s more than half century experience shows that, no
matter hard you squeeze them, the rich cannot pay for a big government that
guarantees all its citizens “positive rights” to income, employment, health,
and retirement. Such an entitlement state – some call it a nanny state -- is
funded primarily by repressive taxes on the middle class and the working poor.
This conclusion is based on hard statistical facts that neither the right nor
left dispute. America’s
Left has kept this fact under wraps and out of sight of voters. It should have
been the focus of the 2012 Republican campaign, but it was not.
Barack Obama has been busy creating and expanding an American
entitlement state that he promises will be paid for by the rich. The middle
class and poor need not worry about tax increases. For the time being, Obama can rely on lenders
(and the Fed) to finance the annual $850 deficits projected under the most likely
CBO scenario. But the day of reckoning will come. At some point, the “bond vigilantes” will
refuse to finance the deficit at sustainable rates, and the government will be
forced to cut entitlement spending or vastly raise taxes. When that time comes, then ex-President Obama expects
the entitlement mentality to be so deeply ingrained that the middle class and working
poor will accept their higher taxes with little protest.
If we continue down the road to Obama’s Big Government,
everyone watch their wallets. The taxman commeth, big time! Judging from Europe’s experience, we must dramatically raise income
taxes on the middle class, triple social security taxes, introduce a 20 percent
federal sales tax, and raise the gasoline tax by $4.00. These taxes are all regressive, which
means they fall most heavily first on the poor and then on the middle class.
If you do not believe me, an influential member of the media
elite (from the New York Times
editorial board, no less), let this secret slip in a remarkably candid
admission. (Note his article appeared after the election):
go to Forbes.com
Saturday, December 1, 2012
Susan Rice Disqualified Herself Under George Schultz’s Loftus’s Law
Susan Rice’s repetition of the “spontaneous mob, anti-Muslim
video” story on the Sunday talk shows five days after the September 11 attacks
is a big thing. Contrary to Democrat claims that the attacks on her are a
political witch hunt, it is a big thing that our U.N. ambassador gave a false
account of the Obama administration’s worst foreign policy disaster. The failure to guard our diplomatic personnel is, of course, a big
thing as well, but decisions made in the fog of war are often wrong. Rice’s
decision was not made in the fog of war but in the heat of a political
campaign.
Rice did not appear to tell the true story, but to control
the political fallout from Obama’s biggest foreign policy disaster, which
threatened his “I killed Osama and al Qaeda is on the run” narrative on the
very eve of the election.
The liberal press (see the New York Times, Big
Issues Are Lost in Focus on Libya Talking Points) characterizes the pursuit
of Rice as raw partisanship. After all, “she accurately recited the talking
points the intelligence agencies prepared.” But a conscientious public servant
is not bound by talking points that are the equivalent of “the sun rose in the
West today.”
Just a couple of media favorites -- Maureen Dowd of the Times and “moderate”
Republican Susan Collins – appear to understand the significance of Rice’s
disseminating a false story to the public (Make
Up Turned Break Up). They ask, among other things, why Rice “promoted a
story ‘with such certitude’ about a spontaneous demonstration over the
anti-Muslim video that was so at odds with the classified information to which
the ambassador had access. (It was also at odds with common sense…) … after the F.B.I. interviewed survivors of the attack
in Germany
….and established that there was no protest.”
go to forbes.com
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