Like every program designed by Obama, he reckoned we'd all get caught in the snare of government spending and have no choice but to continue it. Even liberals saw this coming, but did nothing about it and states now have been left cleaning up another liberal mess.
A few weeks ago, several friends and I braved the impending rainstorm and went to the National Book Festival on the Washington Mall. The purpose of attending -- besides the obvious reason of wanting to stand in the company of Hollywood actors, renowned historians and poet laureates -- was to hear David McCullough speak.
If you live in a middle-class household, you generally expect your needs to be met through the marketplace. You buy or rent housing in the real estate market. When you aren't driving your own car, you catch a taxicab or maybe even hire a limo. You or your employer buy health insurance, and you choose your doctor in the medical marketplace.
As Occupy Wall Street demonstrations have gone national and now global, observers are taking note of the prominent role of labor unions in this anti-business crusade. The rote denunciations of “corporate greed” at these events could be lifted from almost any AFL-CIO convention speech.
We're really not sure why so many people seem to be surprised that new, seasonally-adjusted, weekly jobless claim filings persist in clocking in at levels above 400,000, or that the adjusted values for the previous weeks tend to be revised upward. Provided the established trend remains in effect, the number of seasonally-adjusted initial unemployment insurance claims filed each week in the U.S. is perhaps the easiest economic statistic of all to forecast.
Both Perry and Cain include 100 percent cash expensing for new-business investment. Both Cain and Perry would eliminate the double tax on capital gains and other investments, as well as the double tax on the foreign earnings of U.S. companies.
For millions of Americans, a good job means the difference between keeping their home and family intact or facing a harsh winter ahead of a politically charged 2012. And despite his vaunted “jobs” bill, the President this week again showed he fundamentally doesn’t get it—in fact, he practically took an ad out to say as much.
"I say right now that the Democratic agenda of spend and bribe the public has bankrupt this country, and until it stops, the citizens of this country are in for more hard times. And fancy speeches aren’t going to change that."
Last week, the Obama administration dropped one of the signature provisions of its healthcare plan. The CLASS Act (Community Living Assistance Services) was intended to provide affordable insurance for long-term care to individuals who, because of infirmity or age, could no longer care for themselves.
Gilad Schalit is home. And that is wonderful. The terrorists Israel released in exchange for the IDF soldier held hostage by Hamas for more than five years are running around Judea, Samaria and Gaza promising to return to terror. And that is a nightmare.
As I have told you before, I watch CNBC in the morning because I know about as much about politics as most of the guests on the morning cable news programs who talk about politics, but I know nearly nothing about finance so I watch the guests on CNBC who talk about finance.
Think you know how corrupt ATF really is? You have no idea.
Networks hungry for viewers know the cheapest way to nab eyeballs is to produce a "reality show" with no stars and often uber-sleazy, supposedly-unscripted-but-in-reality-very-scripted content. But in the rush for the prized 18-49 adult viewers, what about the millions of youngsters, the audience aged 11 to 17, who are also lured into the soup?
Last week the House passed with bi-partisan support the Protect Life Act, which amends the Patient Protection and Affordable Care Act (Obamacare) to assure that no taxpayer dollars will be used to fund abortion. It also assures that health care providers which do not wish to provide abortions are not forced to by government.
What are we to think about a president and vice president who blow nearly a trillion dollars in borrowed money, accept no responsibility for it and then traverse the nation trying to convince Americans that if we don't spend half that much again, people will die from dilapidated bridges and women will be raped because we can't afford cops?
By all means talk about jobs. Focus on the consequences of fiscal Armageddon. But Republicans should never discuss illegal immigration without first praising the contributions that legal Hispanic and other immigrants have made to American society.
The good news about Moammar Gadhafi's demise arrived via my cellphone early Thursday morning. A friend from the Reagan administration, remembering the Libyan dictator's attempt to kill my family, called to let me know and added, "You must be very glad to see this day." But it doesn't seem to be a time for celebration.
There was a time not so long ago when the nation was united on a common faith, morality, history, heroes, holidays, holy days, language and literature. Now we fight over them all. Our politics are as poisonous as they have been in our lifetimes.
“We’re all on Daniel’s terms,” Tom (Martin Sheen) says referring to his adventure- seeking son in the new film, “The Way.” Daniel (Emilio Estevez) is a born traveler who loves to explore the world as the story begins. Unfortunately, that leads to a tragic accident and David is killed early on while taking a pilgrimage down the Camino de Santiago (“The Way of Saint James”).
This is too juicy not to share. It's a little gossipy and involved, but it stars three presidential candidates, so it's topical stuff.
In a budget nearing $4 trillion a year, it strains incredulity to hear members of the so-called "supercommittee" say they're still no closer to finding $1.2 trillion in savings over the next decade.
While Marxists spout equality and equal worth, they are not above claiming ownership of the Occupy Wall Street protests. Turns out some are more equal than others.
Some exciting developments in the Republican presidential race are being ignored by the media. We believe Americans will be excited when they understand the revolutionary nature of these candidate's proposals.
The plight of teens and young adults from 2006 to 2010 in one picture.
Let’s not forget that these solar companies like Solyndra and Evergreen aren’t going bankrupt because they can’t compete with Chinese prices. They’re going bankrupt because they’re manufacturing inferior products.
Over the past several decades it has been the bankers’ understanding that if they are successful in their transactions, they keep the spoils and thus large bonuses for everyone- everyone who is bankers that is. However, if a financial engineered product goes awry or unsustainable debt is created, then the loss is laid off on either the depositor or the taxpayer.
Roubinbi served as a senior economist for international affairs at the Council of Economic Advisers under the Clinton administration, and he spent a year working as lead adviser to Timothy Geithner, who was then undersecretary for international affairs.
The clearest answer comes from a statement reputedly made by President Harry Truman during his 1948 Presidential election campaign.
One common theme emerging from the post-GOP debate analysis is the focus on which candidates scored rhetorical points. Given that the debate is on some (superficial) level about delivering verbal punches, this makes sense.
Credit the Occupy whatever movement with this: their protests are unwittingly underscoring the critical importance of property rights. I say "unwittingly" because they apparently lack the wits to figure that out.
In 1979, journalists and diplomats reported from Iran on a revolution against the Shah. They were mistaken. The Ayatollah Ruhollah Khomeini and his followers were thinking bigger. Their goal was a global revolution – a revolution against the United States and other “oppressor” powers.
The Obama administration's response to Iran's plan to bring its 32-year-old war against the United States to the US capital is the newest confirmation that President Barack Obama has no intention in taking action to remove or diminish the threat Iran poses to the US, its allies and interests.
Jane Lubchenco, Under Secretary of Commerce for Oceans and Atmosphere (NOAA), has implemented a commercial fishing plan called “Catch Shares” that has created financial havoc in coastal fishing communities.
Last week, protests broke out again in Europe, from Rome to London. The monthlong Occupy Wall Street demonstrations in New York have spread. The current unrest follows this summer's riots in London and flash mob incidents in U.S. cities. In 2009 and 2010, Tea Parties turned out hundreds of thousands in protests against the Obama administration's policies and eventually gave him the largest midterm rebuke since 1938.
We've been hearing a lot about immigration on the campaign trail, most of it based on outdated assumptions and echoing the arguments made when Congress was considering so-called comprehensive immigration reform bills in 2006 and 2007.
American taxpayers continue to underwrite Egypt ’s military regime. Why? We are constantly told that without them, things would be even worse for the Copts. Yes. They might be, like Egypt ’s Jews, driven out of their homeland.
Candidates running for president can easily wreck their campaigns with one serious misstep. Back in 1976, one Democrat said he favored getting rid of criminal penalties for marijuana use. Can you imagine how Americans of that primitive era reacted to his blunder? They elected him.
We're continuing our visual presentation of the data inside our "How Much Does It Cost to Employ You? (2011-12 Edition)" tool today with a look at the average tax rates paid by employers to support the unemployment insurance benefits mandated by the states in which they operate.
Some Republicans are panicking at the idea the defense budget might be cut even a little — as if that somehow will destroy the Republic. Malarkey. Examples of profligacy abound. The House is just now trying to get up the nerve to forbid the Treasury Secretary from getting around on military jets — at the cost of $150,000 per flight, a practice begun under Tim Geithner’s Republican predecessor.
"I Didn't See It Coming," is the title of a new book by Nancy C. Widmann, Elaine J. Eisenman and Amy Dorn Kopelan. "The Only Book You'll Ever Need to Avoid Being Blindsided in Business," is the intriguing subtitle, though I am not convinced it is the only book you'll ever need.
You tell me, what’s the “fair” price of a barrel of oil? If it shouldn’t be trading at the price Brent Crude is trading at $ICE, or WTI Crude ($CL_F) at the $CME, then what is it? If you know, you should be able to enter a trade in the market and make a lot of money.
Before you move ahead, make absolutely sure you won't need that money for your own retirement. Err on the cautious side, and proceed with this gift to your grandkids only if you're confident you'll have the financial resources you'll need for yourself.
The Occupy Wall Street folks tell us to blame Wall Street for the nation's financial troubles. Notice the no-fly zone over President Barack Obama. Where are the anti-President Barack Obama signs or the verbal chants denouncing the President?
The worst thing about Occupy Wall Street is that it's ruining a good cause: hating Wall Street. Just when opposing Wall Street was gaining momentum, these brain-dead zombies are forcing us to choose between thieving bankers and them.
A new consensus is emerging among Republicans for fundamental entitlement reform providing for modern, 21st century social safety nets. The new, reformed programs would actually achieve all of the social welfare goals of the current programs far more effectively, ultimately serving seniors and the poor far better.
One of my son's Suzuki violin teachers had a wise twist on an old saying: "If at first you don't succeed, try something else." The corollary? "When you do succeed, don't stop. Do it again." The White House could use some remedial Suzuki lessons in economics. They've got everything completely bass-ackward.
What's there to say about Occupy Wall Street? The answer isn't so simple. Some complain about taxpayer bailouts of businesses. Good for them. In a true free market, failing firms would go out of business. They couldn't turn to Washington for help.
President Barack Obama and the Democratic Party have led increasingly successful efforts to pit Americans against one another through the politics of hate and envy. Attacking CEO salaries, the president -- last year during his Midwest tour -- said, "I do think at a certain point you've made enough money."
MANY ISRAELIS, and many friends of Israel in the West, think there is something to be admired in thelopsided deal that will free more than 1,000 Palestinian prisoners -- including hundreds of terrorists serving life sentences for murder -- in exchange for Gilad Shalit, an Israeli soldier abducted by Hamas in 2006 and held virtually incommunicado ever since.
Very late in the day on Oct. 14, the Obama administration released a lot of politically problematic information, including the news that the deficit for 2011 hit $1.3 trillion (the second biggest ever, after 2009) and that it's abandoning the CLASS Act, one of the more expensive and unwieldy appendages of "Obamacare."
Today more than ever, policy is written by constituencies, not candidates. So I don’t see 999 as a un-get-aroundable road-block to Cain's nomination. In fact, he should get high marks for raising the level of debate and introducing serious tax reform into the national conversation.
For the past few years, fear of China's predatory mercantilism has been steadily growing in America, both amongst the public and in elite business and political circles. But last week, for the first time, one could discern the genuine possibility that America might actually do something about it -- even if it means a trade war.
The most amazing aspects of the accelerating American submission to the state are: 1) how matter-of-fact we are in contemplating massive government interventions, such as President Barack Obama's latest stimulus "jobs" plan, and 2) how virtually no one notices the blatant Marxist overtones. When someone does, a la "Joe the Plumber" at the end of the 2008 campaign season, he or she is mocked off the stage.
For almost two decades, Joseph Kony, senior commander of the Ugandan rebel Lords Resistance Army, has practiced a peculiarly evil brand of the sociopathic warfare that curses central Africa.
Next month, the Joint Select Committee on Deficit Reduction, a 12-member subset of Congress that Congress created to make the hard fiscal choices Congress itself has failed to make, is expected to propose $1.2 trillion in cuts from projected spending during the next decade.
While there may be much about this particular situation yet to be learned, the evidence is overwhelming that Iranian influence – specifically through terrorist and criminal networks – extends well beyond their own borders or even the Middle East.
What we do know is this: The crisis over Iran that we expected by the end of the year is here. It affects calculations from Cairo to Islamabad. It changes other equations, including the Hamas-Israeli dynamic. It is a crisis everyone expected but no one quite knows how to play.
National polls show this is still a two-man race, but the second man is now named Herman Cain. Rick Perry, Newt Gingrich and Ron Paul make up the second tier. The best that can be said for Michele Bachmann, Rick Santorum and the aforementioned Jon Huntsman is: They are still in the race.
For most people, the knee-jerk reaction to an event on the other side of the world is, "Why should I give a toss what happens in France? Also, they are Socialists and promiscuous, so there's that." While such foreign-policy prowess might be a hit at the local pub, would it really be smart to ignore an election that will impact everything in your life for which you pay or require borrowed money? Bear with me as I explain why this is the case.
Recently I had the opportunity to ask Steve McEveety, famed producer of such powerful and meaningful films as The Passion of the Christ, BraveHeart and We Were Soldiers what he believes the culture challenge of our time is. He answered without hesitation, "Secularism".
The response to president Obama's October 14, 2011 announcement that U.S. military boots were on the ground in Africa to assist in another "overseas contingency" "non-war" operation in Africa is another example of the left's ever-evolving definition of war based upon which political party is in control.
In 2006, I met with Pat Buchanan to discuss running for president. While we did not see completely eye to eye on everything, we both agreed on the threat to this nation posed by massive uncontrolled immigration.
He has excellent name recognition, he's extremely well organized, he's a great fundraiser, he's become a polished debater, and he's not gaffe prone....All that being said, there's a reason why Mitt Romney has been unable to walk away with the nomination despite all of those advantages.
This is the first presidency in history that has substituted a policy platform for a list of demands. The mistake that many made was thinking those demands were a Christmas shopping list, when in fact they were a demand for your indenture to the federal government.
The major difference between Hitler and the Communist genocidal murderers -- Stalin, Mao and Pol Pot -- was what groups they chose for extermination.
When President Obama announced the deployment of 100 U.S. military advisers to aid in the pursuit of Joseph Kony and the Lord's Resistance Army (LRA), reaction was swift. Michele Bachmann criticized "unnecessary foreign entanglements," while admitting, "I do not know enough about it to comment on it."
On Friday, Health and Human Services Secretary Kathleen Sebelius announced that the Obama administration was ending the Community Living Assistance Services and Supports, or CLASS, Act -- enacted as part of President Barack Obama's Affordable Care Act.
Despite the inordinate quantity of press coverage about next year's presidential election, attention to TV debates and the consuming desire of the media to predict who will win in 2012, the polls show that no candidate in either party is reaching 50 percent of public support.
"The protest against corporate greed born last month on New York's Wall Street spread across the world Saturday," according to The Los Angeles Times. But hold on! The Times is engaged in a question-begging exercise -- one with tendencies that deserve to be, but certainly won't be, shut down promptly.
The ink was barely dry on the asterisk in Jimmy Hoffa Jr.’s rant about taking out those “sons-of-b*tches”—referring to Tea Party members—when the vice president made his own contribution at a Labor Day rally. “This is a fight for the existence of organized labor,” the veep shouted. “You are the only ones who can stop the barbarians at the gate!” And the diatribes have continued, with the establishment of a website designed to track unfair comments made by those who, in President Obama’s words, want to “cripple” America. Congresswoman Maxine Waters’ snippet about telling the Tea Party to “Go to H*ll!” (that pesky asterisk again
If Occupy Wall Streeters had any common sense, they would be marching upon the bureaucratic offices of the government. They would be marching upon the biggest supporter of big government and increased regulation that we have ever seen, Barack Obama.
Bloomberg doubted Zandi and the President's projections, too. They surveyed 34 other economists. Not one was as optimistic as Zandi. In fact the average job creation estimate by the group was a paltry 288,000. Five said the legislation would produce zero new jobs. Since Obama's wants to spend $447 billion to get there, if the average estimate were to come true that works out to $1.6 million per job.
President Obama’s goofy, gimmicky American Jobs Act, which even the Harry Reid-led Senate rejected Wednesday and which the adult-led House regards with head-shaking bemusement, would throw another $447 billion “stimulus” at the economy, and extend unemployment benefits for another year.
The media likes to use the word “epidemic” and “health crisis” to hype problems and draw an audience's attention. When we are talking about the so-called “childhood obesity epidemic,” a little sober analysis would benefit the discussion.
Last month I wrote about creating more jobs by not worrying about inequality and putting aside class envy. One reader responded by asking whether I truly understood the debilitating effects of inequality and the anger it can cause. Oh yes, I know.
The sideways trading came as the dollar lost ground to almost every major currency and Europe managed to talk their way through yet another “comprehensive” plan to deal with their debt crisis. It’s likely the G-20 will follow up this talk with even more serious statements later this week.
The bold, bombastic style that has earned New Jersey Gov. Chris Christie much acclaim in the political bullpen excited conservatives when he used it to battle the unions and biased media agents. Now that Christie’s wrath is being vented on American citizens with legitimate concerns about political Islam and sharia law, however, there are questions about the principles driving the political star’s moral indignation.
While MTV is notorious for pushing the envelope of good taste and decency in its program selection, few of its shows are as controversial as Jersey Shore. Ever since television viewers first encountered Snooki, The Situation and other cast members of the now-infamous show named after their home state, there’s been no lack of the kind of debauchery that’s become the hallmark of all MTV fare.
In April of 2009, President Obama made a key decision to dramatically expand and extend the role of White House Staffers, giving them the power and responsibility to intervene in just about every decision throughout the federal government.
Occupy Wall Street is NO Tea Party! The masses of people collecting in New York City, across the country and world in the name of OWS look more like riots (reminiscent of the 1960s free love variety) than a movement. Participants in this “inchoate” movement as liberal and conservative media have described it, have trashed parks, attacked police, set cars ablaze and paraded around topless in the name of what?
What's wrong with Rick Perry? How did the successful, well-liked, long-term governor of one of America's largest states enter the Republican presidential primary race with great fanfare, zoom to the top of the polls, and then slide almost as quickly back into the pack?
The GOP has become bogged down with careerists, rear view mirror thinkers, and its own establishment of inside the beltway elite. Nothing could speak more to this problem than establishment attitudes toward the remarkable Herman Cain.
Occupy Wall Street is made up of a bunch of European-style nihilists in the purest sense. Their stock-in trade is alienation, Jared Lee Loughner-style. They are talking revolution; extra-legal punishment; confiscation of property; the recognition of rocks and trees as people.
In his most recent work, “When the Crosses are Gone: Restoring Sanity to a World Gone Mad,” Dr. Michael Youssef argues that the United States is entering into a period of spiritual and moral decline.
We should develop previously unusable energy resources to generate jobs, revenues.
The Occupy Oakland movement officially kicked off on Monday, October 10 at 4 pm. In a bold act of solidarity, the Oakland Education Association provided the occupiers with four Porta-Potty units, but that wasn’t enough for a movement as large as this one.
Let me be the first to thank Senator Rand Paul (R-KY). Later this week, he will make some old bulls in the United States Senate very uncomfortable – and that is a good thing considering the Senate Establishment has never hesitated to expand government and spend taxpayer dollars.
Faced with the impossible task of telling constituents that Senators, Congressmen, and the President himself have continually failed the American worker with policies that rewarded a relative few at the expense of the many, we opted to point the finger at China.
Want to see what happens when someone designs and constructs an intricate structure, where all the individual components are constrained to stay in place, and suddenly, the tension holding the entire system together is broken at just one place?
Cuban wades into student loans. This is a half-assed analysis of the situation. The problem isn’t the loans. The problem is the cost of the education combined with the earning potential of the graduate upon attaining a degree. There is a lot of variation in all the moving parts. Fixing higher education isn’t easy.
I’ve been getting a lot of questions this week about whether I think gold can continue its upward climb. That’s the time I have to remind my readers that I’m an analyst, not the Wizard of Oz. I’m the guy reading the charts, not the one behind the curtain pulling the levers. My best guess right now, based on the chart data, is that gold will continue a choppy but generally upward trend.
Home prices will not perpetually stay levitated above wages regardless of perceived shortages. Notice I said "perceived" shortages. Housing shortages in China are a mirage just as they were in Florida, Las Vegas, Phoenix, San Diego and other places in the US.
“What do they want?” is a common refrain in the media these days. Left-wing talking heads and progressive TV hosts are still scrambling to figure out exactly what the “Occupy Wall Street” crowd is up to.
Here’s a group of people who spent their formative years demonstrating on campuses in the 1960s against corporate greed and war- and hitting the bong pretty hard. And what have they done now that they are in power? They have masterminded incredible transfers of taxpayer dollars to their rich corporate friends.
This past week I saw a sad sight. No, it wasn’t Eric Holder trying to convince us that he’s now a terror exposing hero instead of the perpetrator of a deadly Mexican gunrunning op that had its sights set on ultimately getting our Second Amendment rights revoked—though that was pretty sad, as that dog wag had all the subtleties of a Chaz Bono rumba.
Over the course of the decades and years that have passed between the infamous Roe v. Wade decision (1973) and now, the demarcation between proponents of life and proponents of abortion has clearly proven to be a respect for life itself: an acknowledgement of the dignity of the human being, the human spirit, and the right to “life, liberty, and the pursuit of happiness” granted to all, regardless of age or date of conception.
Bailing out the bondholders ever is simply wrong. Those who take risks need to pay the price. These protests are just a start of what we will see if bondholders and banks are bailed out again on the backs of taxpayers.
The 2009 deficit still holds the record at $1.412 trillion. In 2010 the deficit reached $1.293. In just three years, more than $4 trillion of red ink has been added to the debt. The government's fiscal year ends September 30.
We can be confident that Obama didn’t do this because he one day had an epiphany and realized that the MACT regulations were too harsh. He backed down because public pressure was so intense that it became clear his support of the expensive rule threatened his re-election.
Congresswoman Nancy Pelosi (D-Calif.) has a lengthy track record of jaw-dropping political statements. Among them, the lifelong Roman Catholic has been a huge disappointment to her Church on matters of unborn human life, which I’ve personally written about on many occasions.
I tuned into the local “progressive talk” radio station today and they were actually talking about abandoning Barack Obama; not voting for him in 2012. That discussion was more melodic to me.
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