Sure, the deficit picture has improved somewhat because of the fiscal cliff tax hikes and cuts in discretionary spending under the Budget Control Act. But a) our government is still carrying a huge load of debt, and b) this latest improvement certainly won’t last. In fact, absent real reform, it’s set to get much worse.
When asked why interest rates were rising so dramatically in the past few weeks, Bernanke inquisitively scratched his cheek, anxiously tightened his lips, surprisingly bowed his head, and responded, “Beats me, we’re all surprised.”
For starters there is scant evidence the treasury market is settling. Yield on the 10-year note is up to 2.517% today from 2.475% yesterday. The weekly action looks no different that similar consolidation action in the middle of May and the middle of June. After similar-looking consolidation periods, yields blasted higher each time.
The late, great Margaret Thatcher famously said that “Socialist governments…always run out of other people’s money”. And “I love the smell of napalm in the morning” is an iconic line from Apocalypse Now. Thinking about the fiscal mess in Europe, I’m going to combine these two sentiments and state that, “I love it when statists run out of victims and start cannibalizing each other.”
The question is whether the ongoing challenges in Europe, the incipient slump in China, Brazil and elsewhere, and the impact of our own weakness will lead to further weakness in the business sector.
Federal Interior Minister Chaudhry Nisar Ali Khan informed the National Assembly on Thursday that a four-member committee of the Federal Investigation Agency (FIA) had been constituted to probe treason charges against former President Musharraf.
It has been said that the U.S. Senate is where good ideas go to die. In the context of immigration reform, the opposite is true: this week the Senate passed a bundle of mostly bad ideas, “comprehensive” immigration reform.
The British government gives no indication that in the process of “promoting her father’s ideals” of glory Aleida Guevara presented the slightest offense to Britain’s “standards and values.”
The decisions, which tend to restrain branches of government from interfering with each other, were the product of no single coalition. No justice voted with the majority in all four cases, but each voted with the majority in two or three. A thought-provoking session.
It's the abortion-rights extremists who boil down the vast range of issues and choices raised by the term "women's health" to a single issue: sexual reproduction, as if women were nothing more than breeders. And yet conservatives are the ones who're called sexists.
The totalitarian political left proves every day its relentless determination to complete President Obama's stated goal of fundamentally transforming this country. The political right can either wake up to this reality and unite in promoting a better vision or stand by and watch its children's future disintegrate.
Many commentators on United States v. Windsor have offered the view that the decision was not far-reaching, that it didn't enshrine same-sex marriage as a constitutional right and that therefore the struggle continues. Don't believe it for a minute. Windsor is a stealth Roe.
In the wake of hacking attacks on financial, intelligence and defense assets here in the U.S. that have been consistently reported for over 15 years in the United States, it’s time to label China what it really is: a terrorist nation.
What the Supreme Court did Tuesday, in letting the South out of the box, is to declare that, as this is not 1965, you cannot use abuses that date to 1965, but have long since disappeared, to justify indefinite federal discrimination against the American South.
One point I always try to highlight when I talk about my new book, "American Betrayal," is the inspiration of the truth-tellers.
Forget everything you've been told by President Obama about the economy getting "stronger" or heard on the nightly news about the "solid" recovery.
Some might suggest that the Portland, Oregon, school district spends far too much for the services of a left-wing organization that promotes some pretty silly ideas about race relations.
Evidence of the administration’s incompetence, policy fails, and dirty deeds is piling up as fast as the worthless national media can be dragged and shamed into grudgingly reporting it. But don’t fool yourself that liberals will be reflective, conciliatory, or interested in fence-mending.
The Obama administration, health care providers, and advocates for the poor have all been touting the supposed benefits of Medicaid expansion. What is missing from the proponents’ claims of huge windfalls is a thorough discussion of the costs, obstacles, alternatives, and potential pitfalls that make Medicaid expansion a bad deal for states.
While the "hope" portion of the original campaign theme continues to be elusive, the evidence of what kind of "change" Barack Obama envisioned continues to mount.
In order to divert attention from the NSA, IRS, a foreign policy that is DOA, dying union support, a health care policy that resembles a plate of dried spaghetti and a non-existent immigration policy, the old cowhand from Chicago reverted to an oldie but goodie on Tuesday: Saving the environment.
To be completely fair, problems in France (Spain, Greece, Italy, etc) cannot be pinned entirely on the euro. However, it is 100% certain the euro exacerbated existing problems, and in a major way. Instead of being a savior, the Euro has been more like an anchor to most of the economies in the eurozone.
The first leg of President Obama's trip to Africa begins in the nation of Senegal. The nation is 94% Muslim, its official language is French, and it is home to a statue larger than the Statue of Liberty. African Renaissance is a colossal copper statue that cost the nation more than $20.0 million plus a large swath of land paid to its North Korean builders.
You didn’t think the Fed was serious when they said they might consider (at some undetermined time in the near – or distant – future) possibly tapering QE? Because. . . They weren’t. Also: Dan Epstein, with Cause of Action, joined the program to discuss the broken promise of government transparency.
One of the best lines of advice I've ever gotten came from my aunt Rose in the third grade: "Stop complaining about what you don't like, and do what you can to change it." I took her advice that afternoon, had a much better school year because of it, and promised myself I'd never forget her words of wisdom.
With the Supreme Court giving a major boost to gay marriage, liberals face fewer impediments to their relentless push for fatherless (and motherless) families.
“The more I study the war… the less I understand it,” director Ron Maxwell noted in a recent interview about his latest film, Copperhead. The noted filmmaker—who previously helmed Gettysburg (1993) and Gods and Generals (2003) — explores the battle from a unique viewpoint in his new drama.
If celebrity cook Paula Deen is out because of her decades-old private use of the "n" word, what about its public AND private use by MSNBC's Al Sharpton? What about HBO host Bill Maher's use of the "c" word?
Here's a newsflash, folks. It's 2013. Racism is not extinct and never will be as long as human beings walk the Earth. But despite President Obama's constant efforts to persuade his low-information constituencies otherwise, examples of overt or institutionalized racism are harder to find in America today than a rotary pay phone or a Studebaker.
For four decades the American people have been perplexed by "affirmative action," "quotas" and all the circumlocutions that have accumulated around them.What has the Supreme Court trying been trying to tell us with these bewildering decisions?
Despite all of her nutty racially-charged rhetoric, when Chicago Teachers Union President Karen Lewis speaks, people listen.
I have one warning to my gay friends: you better look before you leap. The internal revenue code punishes two-earner couples who are married.
Despite the fact that I consider the prevailing majority of Facebook posts to be among the largest culprits of wasted broadband, I do hold a certain amount of awe for the internet. Ideas can be spread, information disseminated, and cute kitten pictures shared. While there is an amazing amount of debauchery and misinformation on the world-wide-interwebs, it still stands as a relatively unrestricted, lightly regulated and highly accessible wealth of opportunity.
Nick Loris with the Flat Earth Society (also known as the Heritage Foundation) came on the program to discuss President Obama’s most recent climate initiatives. Obviously a war on coal is exactly what this country needs. . . Nothing like some more job killing, expensive regulations (aimed at driving up the price of energy) to bring this anemic recovery to a screeching halt.
After the bad news on gay marriage out of the Supreme Court this week, here's some good news for conservatives: Demographics are on our side!
The Air Force is already behind schedule on building the new Space Fence. They need to get started as soon as possible. We cannot wait until we see the full effect a space junk collision will have on our military, economy and way of life to determine that this is an incredibly important project.
Meet Ryan Patrick Winkler. He's a 37-year-old liberal Minnesota state legislator with a B.A. in history from Harvard University and a J.D. from the University of Minnesota Law School. He's also a coward, a bigot, a liar and a textbook example of plantation progressivism.
This is the classic method of busybodies and tyrants; they start out with something trivial or small and then magnify and extend it. If these people are successful in banning the use of Indian names for football teams, you can bet the rent money that won't end their agenda.
A federal judge has finally selected a trial date for accused Fort Hood mass-murderer Nidal Malik Hasan -- July 9. We'll see if it actually happens. If you've forgotten that mass shooting, then the media had scored a point for President Obama. The Pentagon dismissed the terrorist attack as "workplace violence," the Obama media nodded in agreement and the massacre vanished from public memory.
Many Americans have probably read about oppressive governments in history books and thought, “Why didn’t the people stand up and stop this from happening?” In hindsight, it just seems so obvious that the people should have noticed and protested government overstepping its bounds.
When President Obama explained his plan to save the planetary climate in a speech delivered at Georgetown University on Tuesday, he did not mention cattle, but he did state his desire "to make sure that we're not seeing methane emissions." Some of those, the government has made clear, are of bovine origin.
During the 2012 Mexican presidential campaign, candidate Enrique Pena Nieto assured voters that if elected he would pursue a new and far less violent approach to reducing the threat to national order posed by Mexico's criminal cartels.
It’s hard to see how supporting the Second Amendment to the U.S. Constitution could sentence one to an eternity in hell, but maybe in their ultimate wisdom, teachers union leaders know more than we do.
NYU’s Nouriel Roubini is a very elite public intellectual. Together with Princeton’s Prof. Paul Krugman Prof. Roubini is one of the most acidly eloquent critics of gold.
In theory the central bank could paper over this mess with massive amounts of liquidity, but in practice, such action will either further fuel China's immense structural problems, or more likely, the credit bubble in China has gotten as big as it is going to get, no matter what the Central bank does.
Unfortunately, we live in a world where our President calls Sandra Fluke on the phone, but ignores the families of Benghazi.
While the Left is quick to point out that it was the Enlightenment, not Christianity, that influenced the formation of our country and our constitution, our Founding Fathers did not for a moment suppose that the American experiment could succeed without the aid of religion.
China is having credit problems, Europe is struggling with unemployment, and Central Bankers are just now starting to figure this out. . . Too bad they didn’t listen to Ransom Notes Radio. Mike Shedlock joins the program to discuss the impact of China’s trouble with credit.
It's as if the government is still run by the Puritans who settled this land four centuries ago. If we banned every activity that had the potential to become addictive, we'd have to ban fatty foods, sex, alcohol and investing in the stock market. Life means risk.
A Louisiana lawman is livid over the federal government’s decision to cut off funds for two programs to help troubled young people -- all, he says, because he refused to sign a pledge to bar prayer or any mention of God at their meetings.
As Animal House said it, "Fat, Drunk and Stupid is no way to go through life." Yet, on the "culture war," conservatives continue to act just like that -- with those who would rather invest in establishment instead of TV, film, music, art and literature, people ignorant that they're losing ground to Progressives every day.
Conscience, guided by history, taught the Founders that governments which chose one denomination over another were governments headed toward despotism. So they not only barred the government from choosing one over another but even from interfering with religion in practice.
There was a striking moment in the Senate Judiciary Committee's debate on the Gang of Eight's comprehensive immigration reform bill when Republican Jeff Sessions and Democrat Charles Schumer argued over the number of immigrants who would be allowed into the country under the new legislation.
Being about a week away from Independence Day, I was doing a little reflecting upon the history surrounding the Declaration of Independence. And I thought it would be of equal interest to many of my readers to look at some often-overlooked aspects of the declaration's production and legacy.
If you want to know what's wrong with the Republican Party wrapped up in one pretty package, like the head in the box at the end of Seven, all you have to do is look at the latest amnesty disaster that was created by a gang of Republican idiots in the Senate.
Often one of the two major parties is in disarray. Today, unusually, both of them are.
Liberals are always talking about fairness, but how fair would this bill be to the 4 1/2 million immigrants who are trying diligently to play by the rules?
National Journal's Ron Fournier wrote a strong column about why he doesn't care whether National Security Agency leaker Edward Snowden is a hero or a traitor. To Fournier, that's "the wrong question. The Snowden narrative matters mostly to White House officials trying to deflect attention from government overreach and deception, and to media executives in search of an easy storyline to serve a celebrity-obsessed audience."
Public school apologists gathered at the state capitol last week to once again complain about education reform and Republican legislators.It’s a broken record that has fallen on increasingly deaf ears among citizens who are tired of the teachers union whining and making excuses.
Wells Fargo Advisors, LLC recently raised their year-end target on the S&P 500 from 1575—1625 to 1650—1700, an approximate 5% increase. In addition, the mainstream media has just boldly proclaimed, “Retirement savers: it’s not too late for stocks.”
The IRS is worthy of scorn. It is a bloated bureaucracy that routinely violates the rights of taxpayers. But even I didn’t think it was possible for a collection of bureaucrats to display the blithering incompetence necessary to send $46 million of handouts to nearly 24,000 fake returns filed from a single address.
I imagine most citizens would be surprised at how much of the money their state government spends originates in Washington.
This week the biggest news out of Washington will be President Obama's updated battle against global warming. It's not enough to win the counterfactual war that the administration saved America from a Great Depression, but how about saving the entire planet from Armageddon!
One of the greatest threats of a growing government is the opportunity for abuse, corruption and general disregard for individual liberty. And while the IRS is reeling from their own experiment in Big-Brother-meets-Jimmy-Hoffa style of governance, the New York State Attorney General is anxious to follow suit.
Journalism 1 and 2 at Newton (Mass.) High School in the late 1960s: the only journalism courses I ever took, and just behind typing in the eighth grade as the most valuable I ever had. The journalism teacher, Jacqueline Wollan, was a smart and willowy 26-year-old. All the guys were in love with her, and she taught us the six lovely questions reporters ask: Who? What? When? Where? Why? How?
Subprime loans were less than 10% of all mortgage loans, and the liar loans were probably around 1 to 2% of all mortgage loans. Neither the subprime, nor the subprime liar loans caused the financial crisis of 2008-present. What they did do is allow people without traditional sources of income, or great credit or large reserves a chance to get a property and work their way out of their deficiencies.
In May, the Obama administration reached an agreement with the University of Montana after the Department of Justice investigated it for improperly handling “sexual harassment” cases. Yet it appears the measures put forward in the agreement may make matters worse instead of better.
It is becoming increasingly apparent that the Patient Protection and Affordable Care Act is going to make health care unaffordable to a shockingly large number of poor people—many of them single and childless.
Stories about the declining state of American infrastructure are everywhere -- road and bridges, airports, railways, water and sewer systems. There's never enough money, and we're always being forced as taxpayers to pay more. But there is one type of infrastructure that has had a remarkable boom: broadband Internet.
A whistleblower has exposed the National Security Administration’s warrantless spying on millions of ordinary Americans, and conservatives are divided in their reactions. Dick Cheney and Michele Bachmann are calling former NSA contractor Edward Snowden a traitor. This may be the only time I ever disagree with them.
A member of the U.S. Army Band who said he was reprimanded for having anti-Obama bumper stickers on his personal car, serving Chick-fil-A sandwiches at a party and reading books written by conservative authors like Sean Hannity was found guilty of three Article 15 charges.
Given the proclivities of the administration to impale themselves on the sharp edge of many of their policies, it’s no wonder they have no time for the economy, jobs, the war in Afghanistan, the immigration reform, budgets, national security briefings and all the other effluvia of governing. What with vacations and stopping the whistle blowers, time is short.
With speculators borrowing millions to day trade on 300% leverage utilizing an "endless" supply of margin, and some utility stocks swing 7% every day ... inquiring minds may be asking "what can possibly go wrong with that?"
This begs the question; why would certain IRS employees get more hefty bonuses when they have proven themselves to be nothing but incompetent?
The so-called Hoeven-Corker amendment specifically gives the Secretary of Homeland Security the sole discretion to waive the provisions to build hundreds of miles of new fencing and the installation of technological equipment to aid in securing the border.
I understand that Snowden presumably wants to go someplace where he can’t be snatched by American officials, but he will cross the line and unambiguously become a traitor in my eyes if he gives sensitive material to unfriendly foreign governments.
The headlines were telling, but the caption on the protester’s sign said it all: Brazil Woke Up.
A 33-year-old man died this week in a fiery car crash in the early morning hours in Los Angeles. A tragedy, as it is when anyone dies before their time. But this man's name was Michael Hastings, and his death set off a week of media praise and adulation about his all-too-short life that is telling in more ways than anything the subject of it ever exposed.
Liberals get to write off other taxes they pay, like state taxes, when they do their federal tax return. Is that THEIR subsidy that they now owe me? Maybe the next GOP president will put the NSA-IRS-M-O-U-S-E on THEM.
I wish the craven evangelical ministers would grow some cojones like “The Priests for Life” obviously have and start rebuking politicians who claim union with Christ while proposing and supporting legislation that’s spawned in the abyss.
For most of the first half of my life, I lived in or near Boston. Usually, I am proud of my hometown, its history, its universities and its spirit. After the Boston Marathon bombings, Beantown united under the phrase "Boston Strong."
When Barack Obama won reelection I was a little down. Oh, of course you could assume the obvious reason was because of four more years of a totally unqualified leftist running our country. But I did not want to spend four more years just writing columns bashing the indefensible.
If a person in government says the sun will come up tomorrow, it's sensible to believe that person -- but not until the first rays seep over the horizon. Skepticism is even more justified when the government has been caught hiding something from the public and needs to excuse the secrecy.
The White House Office of Management and Budget raised the cost of a metric ton of carbon from the current $23.80 to $38.00 in 2015—which gives the administration “justification to be more aggressive than they otherwise would be,” explained Jeff Holmstead, air quality chief at the Environmental Protection Agency under President George W. Bush.
1. Borders: Let’s be honest, wars can be settled through diplomatic rational discussion. Foreign policy is just based on fear, and we all know neo-cons use that fear to get elected. If we just leave people alone, all the money saved on immigration reform and border security could subsidize more time off work to protest, and then Tibet can finally be free.
The conditions are emerging for serious violent clashes in the major Egyptian cities in nine days.
IRS Being Investigated For Criminal Misconduct Surrounding Lois Lerner's 'Missing' Emails | Katie Pavlich
Rep. Mia Love: Government Has Made it Impossible for Legal Immigrants to Start Their Own Lives | Cortney O'Brien
Illegal Immigrants Amnestied By Obama Eligible For Up To $9,182 In Cash Benefits Every Year | Conn Carroll