March 9, 2010

Mankiw on Deficit Neutrality

Funny, until you realize how sadly true it is -- Professor Mankiw explains "Deficit Neutrality;"

Friend: I am going to take off a few days from work and fly down to Bermuda for a quick vacation.

You: But isn't that expensive? Won't that just add to your growing debts?

Friend: Yes, it is expensive. But my plan is deficit-neutral. I have decided to give up that half-caf, extra shot caramel macchiato I order at Starbucks twice every day. I really don't need that expensive drink. And if I give it up for the next three years, it will pay for my Bermuda trip.

You: Well, then, how are you going to solve the problem of your growing debts?

Friend: I am going to figure that out as soon as I return from Bermuda.

You: But in light of your budget problem, maybe you should give up Starbucks and skip the Bermuda vacation. Giving up Starbucks could be the easiest way to start balancing your budget.

Friend: You really aren't any fun, are you?

Posted by John Kranz at 1:15 PM | Comments (0)

March 8, 2010

CBO Budget Estimation

The good folks at the CBO have revised their projections of the Obama budget deficits. The new numbers are the lighter blue bars (Color blind ThreeSourcers: the much higher ones!)

projected_deficit.png

Hat-tip: Professor Mankiw who still feels that these are based on overly optimistic projects.

Posted by John Kranz at 1:57 PM | Comments (2)
But johngalt thinks:

And for innumerate ThreeSourcers (if there were such a thing) the National Debt grows by each of those lighter blue bars stacked on top of each other year after year.

Posted by: johngalt at March 8, 2010 2:38 PM
But jk thinks:

Yeah, they're still just a couple of inches high or so -- I can't believe that's gonna be a big problem.

Posted by: jk at March 8, 2010 2:51 PM

March 1, 2010

Quote of the Day

“President Obama hasn’t kicked the smoking habit, takes anti-inflammatory medication to relieve chronic tendinitis in his left knee and should eat better to lower his cholesterol, his team of doctors concluded Sunday after the 48-year-old’s first medical checkup as commander in chief.” Huh. I’ve never smoked, and my cholesterol is 163. But, of course, I lead the healthy law-professor lifestyle. In my experience, politics doesn’t foster healthy habits. On the other hand, a guy with high cholesterol who still smokes is ill-suited to play national Health Nanny. -- Glenn Reynolds
UPDATE: Maybe a better takeaway (from the same source) is that he had a "Virtual Colonoscopy" which most suspect would not be available to a 48-year old non-POTUS American under ObamaCare. It's more cost effective to go in there guns a blazin' in case something is found. But for some reason, when the choice is offered, most prefer the comfort of imaging. Not very damned patriotic of ''em...
Posted by John Kranz at 10:28 AM | Comments (0)

February 26, 2010

Our Problems are Solved!

I know that a lot of ThreeSourcers used to worry about "debt" and "deficits" and things like that.

But President Obama is starting to announce members of his blue ribbon, bipartisan deficit commission.

MORE COMMISSION MEMBERS: President Obama has appointed four members to the bipartisan deficit commission he established last week, an administration official said. The appointees are: Andy Stern, the president of SEIU; David Cote, the Honeywell International CEO; former Federal Reserve Vice Chairman Alice Rivlin; and Ann Fudge, a former Young & Rubicam Brands CEO.

Wow! With leading lights like this on the commission, I am just going to start worrying about other things. Andy Stern is on the case!

This is all courtesy of Don Luskin whose frequent contributor Mick Danger points out "Stern is a goalie. Doesn’t much matter which player on this Commission tries to score, Stern will block every single shot."

Posted by John Kranz at 4:44 PM | Comments (4)
But Keith Arnold thinks:

Hopefully, he'll do as well as Finland's goalie.

Posted by: Keith Arnold at February 26, 2010 6:13 PM
But jk thinks:

Now I would yell about spoilers, but with Twitter, time-shifted sports are impossible. Everyone I follow fancies himself a mini-Bob Costas...

Posted by: jk at February 26, 2010 6:22 PM
But Keith Arnold thinks:

Sorry, jk. My only defense I can offer is, you can't lay straight lines like that out there.

So, the hacks on this baby-blue* ribbon panel, do they get to be czars too? They are appointed and anointed but not confirmed by the Senate, and part of the shadow government of regulators and level-pullers, after all.

* Did I mention yet, for the record, that once this administration is consigned to the ashheap of history, I don't ever, EVER want to see anything in that noxious shade of baby blue again?

Posted by: Keith Arnold at February 26, 2010 6:40 PM
But johngalt thinks:

Spoilers? Time shifted? The game started at 1pm Mountain and was telecast live on NBC network affiliates. And how about that Ryan Miller? Not just his play, but his goalie mask? "Don't Tread on Me" shares space with patriotic images. (haven't seen a tea bag but maybe it's just really really small.)

Oh yeah, the "commissioners." Merely four more sets of hands to build runways and light marker fires.

Posted by: johngalt at February 26, 2010 9:34 PM

February 24, 2010

Maybe Obama's not a Socialist after all

On yesterday's program Bill O'Reilly posed the question, "Is the president [Obama] a socialist?" His answer was that while Obama has pursued socialistic policies he isn't an actual socialist because "Mr. Obama doesn't want to seize your house." I would counter that straw man with, "No, but he want's to seize your income to give a house to thems what ain't gots 'em."

Unfortunately I think it gives Obama too much credit to call him a socialist. That would imply that he knows what he's doing. I tend to agree with Randall Hoven at American Thinker who wrote Obama "is the cargo cult president."

At least the real Cargo Cult followers built real things that looked like landing strips to get airplanes loaded with food and supplies to land on them. Obama thinks you get factories to produce things and hospitals to fix people by making speeches -- speeches that are reasonably good imitations of speeches given by real leaders.

If you're not familiar with the cargo cult tribes of the South Pacific you'll want to read the article to see what he means. If you are familiar then you'll want to read the article to see just how eerily similar the Obama Administration (and the alternative energy movement) is to those primitive peoples.

Posted by JohnGalt at 2:56 PM | Comments (3)
But Perry Eidelbus thinks:

Remember what he said to Joe the Plumber? "I think when you spread the wealth around, it's good for everybody." I have no issue with calling Obama a socialist, even if he doesn't understand it. One can be a socialist and not openly espouse the philosophy of collectivism, or even realize himself what he espouses.

I was not familiar with the cargo cults, and it is the perfect term for the Obama presidency. His cabinet members, his czars, all his pretenses: even now there's never been a bit of substance. Like the actual cargo cults, underneath the manufactured façade is something incapable of producing something real. It's the ability to produce real things that distinguishes capitalist systems from collectivist ones.

Posted by: Perry Eidelbus at February 24, 2010 4:39 PM
But Boulder Refugee thinks:

Great post, JG. I heard that same comment from O'Reilly and flipped as well. One must suppose that he really doesn't understand that socialism is not an absolute state, it is a continuum. One could argue that the US is on the right of that continuum (exhibiting some socialistic tendancies, [e.g., progressive tax rates, Medicare]) whereas France, Sweden, Greece, etc., are on the left side of the continuum support a wide range of socialistic programs. He certainly does "the folks" no favors when he vastly oversimplifies reality.

Posted by: Boulder Refugee at February 25, 2010 10:48 AM
But jk thinks:

Bill O'Reilly oversimplifying? Mai Non!

Mister O caused me to truly accept Ayn Rand's call for a clear, consistent and empirical philosophy. He is such a perfect example of the obverse.

Sure, I agree with him 79.4% of the time. But he believes -- fervently -- in himself 100% of the time. And he is always following his gut, never his head.

Posted by: jk at February 25, 2010 1:29 PM

February 22, 2010

Quote of the Day

Access to credit doesn't stem from card issuers beneficence but from their self-interest, which coincides pretty well with borrowers. Sure, lots of people get into credit-card and other forms of debt that cause problems. But it doesn't help the far-larger majority of people to limit what can be offered. And, as the quote above suggests, Mr. Potter always gets his fees one way or another. Hell, even George Bailey ended up squeezing his customers for what appears to be an interest-free loan. -- "The Jacket" Nick Gillespie
Insidious that the Democrats are getting away with this. I saw three news reports, all unapologetically explaining that "this new law is gong to save customers billions of dollars."

One has to read Reason (or Insty) to hear anything different. Someday the road just goes straight uphill.

Posted by John Kranz at 12:46 PM | Comments (0)

February 16, 2010

GM Owners Demand Toyota Documents

Am I the only one bothered by this?

WASHINGTON – The government ordered Toyota to turn over documents related to its massive recalls Tuesday, pressing to see how long the automaker knew of safety defects before taking action. Toyota, concerned about unsold cars, said it would temporarily idle some production in three states.

I'm starting to think maybe it wasn't such a good idea to have the US government take over General Motors...

Posted by John Kranz at 7:34 PM | Comments (0)

February 15, 2010

With one hand I giveth...

Professor N Gregory Mankiw has a superb article in the NYTimes today. We've had much chatter about the difference between President Bush's spending and President Obama's From a first principles perspective, I concede much of President Bush's spending was supraconstitutional and excessive.

Mankiw, who was in Bush's CEA, suggests an important difference; the Bush debt, from 2005-2007 was not outgrowing the economy,

From 2005 to 2007, before the recession and financial crisis, the federal government ran budget deficits, but they averaged less than 2 percent of gross domestic product. Because this borrowing was moderate in magnitude and the economy was growing at about its normal rate, the federal debt held by the public fell from 36.8 percent of gross domestic product at the end of the 2004 fiscal year to 36.2 percent three years later.

That is, despite substantial wartime spending during this period, budget deficits were small enough to keep the debt-to-G.D.P. ratio under control.


Like the Laffer curve, the liberty lover is asked to accept optimization of debt and revenue that are outside limited government's needs. But Mankiw's point holds that spending used to be huge but sustainable.

The current White House budget has no end in sight and insiders admit that a VAT or other massive revenue increase will be required. This is no loan through lean times, this is a new way to live. That's different.

Lastly, I am tempted to give the Professor (I can call him that, he's white!) Quote of the Day honors:

In other words, President Obama’s long-term fiscal strategy is to appoint a commission to figure out a long-term fiscal strategy.

Excellent article.

Posted by John Kranz at 12:46 PM | Comments (0)

February 14, 2010

Biden's Motorcade: A Third Accident

Lord.

This has to be some kind of record.

A spokesman for Vice President Joe Biden says figure skating great Peggy Fleming and former bobsled champion Vonetta Flowers sustained “minor injuries” in a traffic accident while riding in Biden’s motorcade at the Vancouver Olympics.

Spokesman Jay Carney says the motorcade was carrying members of the U.S. delegation to an event Sunday when the accident occurred.


By my count, this is the third accident with the Vice President's motorcade. The other two were in November.

Posted by AlexC at 9:10 PM | Comments (2)
But Keith Arnold thinks:

One more and they'll never let him take off the training wheels.

Seriously, you're surprised? He can't open his mouth without having an accident. You expected his driving record to be any different?

Posted by: Keith Arnold at February 15, 2010 9:27 AM
But jk thinks:

Senator Kennedy was, by comparison, the paragon of safety.

Posted by: jk at February 15, 2010 4:20 PM

February 9, 2010

Bush's Fault

My slightly partisan defense of our 43rd President was rebuffed in the comments.

Well, it's not how many times you are knocked down, but how many times you get up. Furthermore, the early bird gets the worm.

I suggested that by conceding that President Bush was as bad as President Obama on spending, we were both perpetuating a lie and letting the current Executive off the hook.

For my next witness, I call Obama-voter Megan McArdle:

Whatever George W. Bush did or did not do, he's no longer in office, and doesn't have the power to do a damn thing about the budget. Obama is the one who is president with the really humongous deficits. Deficits of the size Bush ran are basically sustainable indefinitely; deficits of the size that Obama is apparently planning to run, aren't. If he doesn't change those plans, he will be the one who led the government into fiscal crisis, even if changing them would be [sob!] politically difficult.

I have a serious question for the people who are mounting this defense: at what point in his presidency is Obama actually responsible for any bad thing that happens? Two years? Five? Can we pick a date for when bad things that happen on Obama's are actually in some measure the responsibility of one Barack Obama, rather than his long gone predecessor? And then stick with that date? Conversely, can we agree that as long as the bad things that happen are really George Bush's fault, any good things that happen should probably be chalked up to his administration as well?


This is part of a great post about another great post from Veronique de Rugy. Both deserve a read in full.

Posted by John Kranz at 5:07 PM | Comments (1)
But johngalt thinks:

OK, I left the field open for a while so that others could maneuver freely. Seeing none, onto the pitch:

"Deficits of the size Bush ran are basically sustainable indefinitely; deficits of the size that Obama is apparently planning to run, aren't."

So there's a succinct description of why Bush was not "as bad as" Obama. It also explains the rest of my Ow*every*line*a*dagger comment. Bush turned up the steam ever gradually from where it was left by his predecessor and McCain would have done the same. If a committed socialist ideologue such as Obama had not come along and tried cranking us up to 10 all at once then the TEA Party smoke alarm might never have sounded.

You know those stories you read about "Nazi Germany was weeks away from mass producing jet fighters" or "Imperial Japan was within days of their own nuclear bomb?" I expect we'll learn, some day in the future, how close America came to complete collapse if not for the rallying of a core group of dedicated American patriots to take back our government on behalf of The People.

Posted by: johngalt at February 10, 2010 4:02 PM

Reading The Footnotes, So You Don't Have To

Prof. Mankiw links to an interesting website that attempts to referee the claims of the White House Budget recommendations. They've already thrown a couple flags:

The Administration is taking two tax provisions from the 2009 stimulus bill -- expansions of the child tax credit and the EITC -- and claiming them as part of the "current policy" Bush tax cuts. And they are doing something similar for Pell grants: assuming that they will receive sufficient funding to pay out the maximum grant level set in the stimulus bill.

The Administration didn't inherit these policies, they created them. And worse, still, they created them as explicitly temporary, under a stimulus bill which they claimed was meant only to help bring us out of this recession.

Yet the White House wants to continue these policies, and they don't want to pay for them. So what do they do? They hide these policies in their baseline, in the hopes that they won't have to.

Posted by John Kranz at 11:28 AM | Comments (10)
But jk thinks:

Ow. Every. Line. A. Dagger. In. My. Heart.

Posted by: jk at February 9, 2010 4:47 PM
But johngalt thinks:

You think I'm HAPPY to make this observation? I voted for the "move along, nothing to see here" GOP ticket!

Please tell me, what good does it do to defend Bush on spending?

Posted by: johngalt at February 9, 2010 5:04 PM
But jk thinks:

More in a post above. It is not a matter of defending GWB, it is a matter of not accepting that x = 3x for nonzero values of x.

Posted by: jk at February 9, 2010 5:18 PM
But johngalt thinks:

Maybe you're too sensitive or maybe I'm too cavalier but I don't believe I suggested that. It was more of a "you think Bush was bad, this guy is way worse" sort of comparison. "Teabaggy" rednecks like Beck and me have already concluded that spending under Bush was worse, not better, than his predecessors so perhaps that's why I don't see this as the GWB hatchet job that you do. It's meant to be a BHO hatchet job.

And it is a fact that Republicans are less inclined to complain about deficit spending by one of their own than by a Democrat - particularly when it's such a brazen redistributionist as Obama.

Peace brother.

Posted by: johngalt at February 9, 2010 8:04 PM
But jk thinks:

No worries, I'm fine. I just hear a torrent of "Bush was equally bad" and see a GOP unwilling to defend him at all. That is a dangerous thing to concede.

Posted by: jk at February 9, 2010 8:13 PM
But johngalt thinks:

Well, if Bush really was equally bad we'd have seen the TEA parties while he was president.

Posted by: johngalt at February 10, 2010 1:01 AM

February 8, 2010

Penn Jilette on Obama On Vegas

A fun column:

I like to say I don't believe in hope, but I had the hope to move to Vegas to do a magic show. And I do hope that Vegas pulls through this bad economic time and people come and visit us and we do our stupid shows for all the stupid, hopeful people.

Obama, please remember, it was those stupid, very hopeful people who took the over on a stupid point spread on Obama with a stupid hope to help our country, which includes stupid Vegas.

The gamble Obama took with his run for president and the gamble that the American people took on him sure weren't taken at good odds. It wasn't putting everything we had on red in roulette, or "don't pass" in craps, or carefully counting cards in blackjack.

Obama's presidency is more than all of us putting our whole future on 00 in roulette. It was more like putting everything we had on one slot pull at the stupid Elvis impersonator slot machine in the stupid Elvis casino for the stupid hillbillies who are filled with hope.

UPDATE: Brother ka rubs it in that our President failed to pick the winner yesterday, Wayne Allen Root did. I will take a break from my Libertario Delenda Est campaign to link to a superb article: Lessons Obama Should Have Learned From Watching the Super Bowl.

Obama, Reid and Pelosi might snicker, but they obviously don’t understand the difference between Vegas and Washington D.C. You know what it is? In Vegas the drunks gamble with their own money. Maybe we need a politician in D.C. who understands the psychology of winning; who understands the motivation of risk versus reward; who has the guts to take gambles; and the courage to back his convictions with his own money, instead of the taxpayers’ money.

Posted by John Kranz at 1:08 PM | Comments (2)
But Keith Arnold thinks:

That betting-on-the-slot-pull metaphor is going to leave a mark. He could do a whole television show on the present administration. Whaddaya think he's name the show?

I wish Obama's speeches sounded more like Teller's.

Posted by: Keith Arnold at February 8, 2010 1:49 PM
But Keith Arnold thinks:

By the way, I'd say it's a good thing that Vegas doesn't pay any more attention to Obama's economic predictions than they do to his football predictions:

http://tinyurl.com/ylobcgk

It's not just Virginia, New Jersey, and Massachusetts that the Obama Curse has struck. Indiana's now in that club as well.

Posted by: Keith Arnold at February 8, 2010 1:54 PM

February 5, 2010

I was kidding

Sort of. I was kidding a bit when I suggested, a couple of days ago,

GM Owner Misspoke Telling Americans Not to Drive Toyotas

But the attention to the Prius brake issue unnerved me. Now Professor Reynolds nails it:
NOW IT’S brake issues for Ford hybrids. Funny how these problems keep hitting non-bailout companies.

Posted by John Kranz at 3:39 PM | Comments (0)

February 4, 2010

Teleprompter is Your Friend

Dagny and I were amused when we heard the president pronounce the word "corpsman" at this morning's prayer breakfast as though he referred to a dead male. We laughed our arses off when he did it again! But his press secretary probably wishes he had his own teleprompter telling him what to say, even if he couldn't pronounce it either. While defending the White House over publicizing the bean-spilling panty bomber he tried to turn the tables on the criticizers.

"I think he owes an apology to the professionals in the law enforcement community and those that work in this building, not for Democrats and Republicans, but who work each and every day to keep the American people safe and would not ever, ever, ever knowingly release or unknowingly release classified information that could endanger an operation or an interrogation," Gibbs said.

"Never knowingly or unknowingly doing anything" is a good motto for the 111th Congress.

Posted by JohnGalt at 9:57 PM | Comments (0)

The Ten Years of Failed Policies of the Bush Administration...

...or as Keith Hennessey puts it: Ten Years, Seriously?

Hennessey goes over President Obama's continuing campaign bromides one at a time. He acknowledges overspending (and personal bias) but picks apart the current Administration's attempt to exculpate itself. It is an excellent summation against the argument of "Bush broke it and Obama is trying to fix it."

This debate about the past can continue ad nauseam. At some point I hope it ends, but the President and his team bring it up at every opportunity. It is strange for a President to complain repeatedly about ten-year old policies and then not propose to change them. More importantly, this debate is not relevant to the problems we face today.

Yes, President Obama faced some enormous economic challenges early in his term. His predecessor did as well, even before the crisis of 2008: a bursting tech bubble leading to a recession in 2001, an economic seizure caused by 9/11, corporate governance scandals in 2002, a recession in 2002-2003, the economic uncertainty triggered by invading Iraq (this one was a policy choice), and eventually oil spiking above $100 per barrel.
[...]
More than the blame game, this is what concerns me about the President’s economic agenda. The President’s own projections show that his policies will not fix the future problems he identifies. Based entirely on numbers from the President’s just released budget, America will see the following results if all of his policies are implemented as proposed and work as projected:


Hat-tip: Prof. Mankiw

Posted by John Kranz at 1:45 PM | Comments (2)
But Boulder Refugee thinks:

Ten years of policies over all 57 states.

Posted by: Boulder Refugee at February 4, 2010 2:43 PM
But johngalt thinks:

Excellent point, this. "Bush broke it" but despite Obama's claims, he ain't fixin' it.

One quibble: For most of the first year the O-ministration did bring it up at every opportunity. But toward the end of last year I honestly felt they were moving beyond the excuse, as if it had served its usefulness. But it's being resurrected again to explain away the really tough issues.

This reminds me of a line from the excellent movie 'Hunt for Red October' when the sonar man, seaman Jones, explains why the artificially inteligent sonar system often identifies unknown sounds as "geological" because its software was originally developed to explore for oil. He said, "When it gets confused it just runs home to mama!"

Posted by: johngalt at February 4, 2010 3:02 PM

February 3, 2010

GM Owner Misspoke Telling Americans not to drive Toyotas

AP:

WASHINGTON – Transportation Secretary Ray LaHood now says he misspoke when telling owners of recalled Toyotas to stop driving then.

Instead, LaHood says take them to dealerships to get them repaired.

LaHood told reporters it was "obviously a misstatement" when he told a House panel earlier Wednesday that he would advise owners not to drive recalled vehicles. The remark came during testimony to the Appropriations subcommittee on transportation.

Toyota's most recent recall in the United States affects 2.3 million vehicles with the potential for sticking gas pedals.


Perhaps they'd be just as tough with a problem in an Official, Government Owned Automotive Manufacturing facility.

But am I the only one who sees great opportunity for conflict of interest?

UPDATE: Nope, some clever Insty readers agree.

Posted by John Kranz at 1:55 PM | Comments (1)
But jk thinks:

The Administration misspoke when they told all patriotic Americans to "crush their crappy little rice-eaters and get a good 'Merican car, like a Chevy or a Cadillac."

Sorry for the inconvenience...

Posted by: jk at February 3, 2010 2:35 PM

February 2, 2010

Quote of the Day

Stated another way, even if TARP saved our financial system from driving off a cliff back in 2008, absent meaningful reform, we are still driving on the same winding mountain road, but this time in a faster car. -- TARP Inspector General's Quarterly Report.

Via Breitbart, via Insty

Posted by John Kranz at 7:00 PM | Comments (1)
But johngalt thinks:

A faster car driven by a more reckless driver, and with a gas pedal made by Toyota. His recent speeches scold that "this is no way to drive a family's car" but the best he's offered is to "freeze at our current speed."

Posted by: johngalt at February 3, 2010 3:13 PM

January 28, 2010

Quote of the Day

Isn't it fascinating that the lengthy, amplified, magnified speech of the most powerful man in the world with his big captive audience — in the magnificent room and in smaller rooms all over the country — are outweighed by one man's headshake and silent mouthing of 2 or 3 words?

And isn't it ironic that, right when we saw the judge's minimalist expression that overwhelmed the President's torrent of words, Obama was railing about the "powerful interests" that would use their great wealth to speak far too much during election campaigns?

It's not how much or how loud you speak that counts, is it? -- Ann Althouse


UPDATE -- Honorable Mention:
How can you tell when President Obama is lying? Justice Samuel Alito's lips move. -- James Taranto

Posted by John Kranz at 4:16 PM | Comments (2)
But Keith Arnold thinks:

William F. Buckley could destroy an opponent's verbose arguments with a simple roll of the eyes, a smile, and the word "really..."

Kinda makes me want to use fewer words in my comments. I'll shut up now.

Posted by: Keith Arnold at January 28, 2010 4:33 PM
But Lisa M thinks:

Is it possible the brilliant former professor of Constitutional Law somehow misunderstood the ruling? Or was he just lying to the stupid rubes who are incapable of understanding the nuances of the healthcare bill after his 800 speeches about same?

Honestly, the man's contempt for America could not be more palpable.

Posted by: Lisa M at January 28, 2010 7:12 PM

Equal Time

I was going to offer my thoughts on the "STFU" last night, but the good folks at CATO have done it better, quicker, faster -- and in video!

Mirabile non dictu, I disagree with the last comments on Iraq, but reasonable folks can disagree.

Hat-tip: Instapundit

UPDATE: They missed one of my low points, but Ira Stoll picks it up:

Fourth, the command-and-control central planner aspect of his policies. "We will double our exports over the next five years," Mr. Obama said, adopting, with a tremendous tin ear, even the exact time horizon of Stalin's five year plans. Some readers will doubtless think it is over the top to invoke Stalin in the same breath as Mr. Obama, and, just to be clear, I don't think Mr. Obama is a mass murderer like Stalin. But the idea that government officials can successfully set and achieve goals for how many goods will be sold abroad is exactly the flawed logic of Communist economics.

Posted by John Kranz at 10:38 AM | Comments (0)

SOTU: Awesometacular

If you're MSNBC's Chris Matthews, who for one hour forgot that President Obama was black.

Really.

Posted by AlexC at 2:30 AM | Comments (2)
But jk thinks:

We need to go to CafePress and get some ThreeSources barf bags if you're going to post more stuff like this.

Posted by: jk at January 28, 2010 10:28 AM
But johngalt thinks:

To "forget he was black for an hour" Matthews admits that he normally thinks of the president as a black man.

Posted by: johngalt at January 28, 2010 9:42 PM

January 25, 2010

Two Pictures of the President

Mirabile your dictu, kids, I am going to defend the President from a partisan attack. Don't worry, I will follow it with a partisan attack of my own...

Professor Reynolds links to this photo saying "Metaphor Alert: It was locked and no one had a key."

obama_desk.jpg

I'll let the (strained) metaphor pass. I have seen so little humor and even less possibly self-deprecating humor from President Obama, I cheer this. It's kind of clever, somewhat sweet, and speaks to a history of the White House before January 20, 2009. None of this was expected and all is appreciated.

Now that I'm on the new David Plouffe team, I will also post this. Here is the "leader of the free world" preparing to address a roomful of sixth graders -- Jesus Murphy I sure hope the teleprompter doesn't break!

obama_teleprompter_sixth.jpg

Follow the link for a far more substantive attack about Federal usurpation of education. Me, I'm just enjoying the moment.

Posted by John Kranz at 12:37 PM | Comments (1)
But johngalt thinks:

Does anyone else wonder how many fewer times President Ford would have tripped if someone had taped the edges of his carpets down?

Posted by: johngalt at January 26, 2010 3:11 PM

January 22, 2010

Quote of the Day

In Ohio today, Obama threatens to keep helping. (http://bit.ly/54sUYd) -- @VodkaPundit
Posted by John Kranz at 6:00 PM | Comments (0)

I'd Love a Poll...

I'd love to see a poll on how many people really believe this. AP:

WASHINGTON – President Barack Obama is telling voters in Ohio, already wracked by high unemployment, that investments in clean-energy technologies will help boost the nation's economy.

Obama planned to use his visit Friday to test-drive an aggressive populist push on jobs, a top concern for voters across the country as the White House begins a message shift heading into fall elections expected to be difficult for Democrats.


I do appreciate the AP's telling us that it is all a political stunt. But I am curious how many folks actually believe "that investments in clean-energy technologies will help boost the nation's economy?"

Posted by John Kranz at 10:47 AM | Comments (0)

January 19, 2010

Ha Ha Ha. Ha Ha Ha Ha Ha!

Jonathan Chait tells Democrats not to Panic.

"The perception has formed, perhaps indelibly, that the reason Democrats will get hammered in the 2010 elections is that the party moved too far left in general and tried to reform health care in particular."

"Nope" says Chait.

"While the Democrats may have committed sundry mistakes, the reason for their diminished popularity that towers above all others is 10 percent unemployment."

Of course there's no possibility the two could be related. And while I'm cautioned not to gloat over a potential Scott Brown victory today, Chait matter-of-factly concedes that "Democrats will get hammered in the 2010 elections."

My one fear of a Brown victory today is that the Dems will pivot and start governing reasonably, although still pursuing the statist agenda slightly less brazenly. Stuff like this from "thought" leaders on the other side gives me great comfort and joy.

Posted by JohnGalt at 2:52 PM | Comments (1)
But Boulder Refugee thinks:

The Refugee hopes that the Dems do pivot. He would gladly trade Republican majorities in both houses for the failure of Obama's Eurostate agenda.

Posted by: Boulder Refugee at January 20, 2010 5:44 PM

Why Obama's Agenda is in Jeopardy

White Massachusettsians who are "lifelong Irish Catholic Democrats" are a big reason why the state has reliably elected Democrats for decades. But today they are "disgusted with Obama's handling of terrorism, health care and taxes." As a result they "told The Post yesterday they intended to vote for Brown."

Racists.

Posted by JohnGalt at 2:40 PM | Comments (0)

January 18, 2010

Otequay of the Ayday

Technically this quote was uttered yesterday but I didn't hear it until this morning. President Obama, stumping for his candidate in the Massachusetts race for US Senate:

"So understand what's at stake here, Massachusetts. It's whether we're going forward, or going backwards. It's whether we're going to have a future where everybody gets a shot in this society, or just the privileged few."

Was he campaigning for Coakley or for Brown?

Posted by JohnGalt at 2:33 PM | Comments (0)

January 16, 2010

Otequay of the Ayday

From Mark Steyn in Can Obama Hold Teddy's Seat?

Oh, which one to choose. You decide.

If you were at the Hopeychange inaugural ball on Jan. 20, 2009, when Barney Frank dived into the mosh pit, and you chanced to be underneath when he landed, and you've spent the past year in a coma, until suddenly coming to in time for the poll showing some unexotically monikered nobody called Scott Brown, whose only glossy magazine appearance was a Cosmopolitan pictorial 30 years ago (true), four points ahead in Kennedy country, you must surely wonder if you've woken up in an alternative universe.

Or maybe...

If you're one of the dwindling band of Bay Staters who rely on the Globe for your news, you would never have known that a Massachusetts pseudo-"election" had bizarrely morphed into a real one – you know, with two candidates, just like they have in Bulgaria and places.

And if I can only nominate three, the last would be this...

And, while Barack may be cool and stellar if you're as gullible as "the educated class," Nancy Pelosi and Ben Nelson most certainly aren't: There's no klieg light of celebrity to dazzle you from the very obvious reality that they're spending your money way faster than you can afford and with no inclination to stop.

"The educated class" is apparently too educated to grasp this insufficiently nuanced point.

Posted by JohnGalt at 4:15 PM | Comments (0)

Liberal Descendancy

A funny thing happened to James Carville's "liberal ascendancy that would last for 40 years."

Charles Krauthammer on "President Obama's Fall."

To his credit, Obama didn't just come to Washington to be someone. Like Reagan, he came to Washington to do something -- to introduce a powerful social democratic stream into America's deeply and historically individualist polity.

Perhaps Obama thought he'd been sent to the White House to do just that. If so, he vastly over-read his mandate. His own electoral success -- twinned with handy victories and large majorities in both houses of Congress -- was a referendum on his predecessor's governance and the post-Lehman financial collapse. It was not an endorsement of European-style social democracy.

Hence the resistance. Hence the fall. The system may not always work, but it does take its revenge.

Hat tip: My Hawai'i aunt.

Posted by JohnGalt at 12:28 PM | Comments (0)

January 12, 2010

Liberty Deafness

Perhaps you cannot blame the Administration for this AP lede, but I suspect it is not far off the mark:

WASHINGTON – Targeting an industry whose political deafness has vexed his administration, President Barack Obama is weighing a levy aimed at recovering tax dollars from government-rescued financial institutions.

The proposed levy could put Obama on the popular side of public opinion that is decidedly against Wall Street and angry over shortfalls in a $700 billion bank bailout fund.


Get out your pocket Constitution and send me the page that allows the Executive branch to create special levys against industries whose " political deafness has vexed" him.

Absolutely stunning.

Posted by John Kranz at 10:56 AM | Comments (0)

January 7, 2010

Them Harvard Boys All Stick Together

Actually, Prof Mankiw has an interesting take on the oft-rumored upcoming under-the-bus-throwing of Larry Summers. (My favorite tale was that the left is disturbed because Summers brings too much frugality to the Obama Administration -- yikes!)

Mankiw thinks that Summers is a valuable voice, but might be miscast as a policy guy:

On the other hand, the job Larry has--NEC Director--traditionally has the responsibility of coordinating the policy process, which requires more people skills than deep insights into economic policy. Maybe what the White House needs is a reorganization. Put a hard-working but easy-going person like Jason Furman or Doug Elmendorf in charge of organizing the economic policy process and then give Larry a position such as "senior adviser" from which he can kibitz on a wide range of policy topics. There is really no one better at asking the hard questions that need to be asked.

He did have a policy role in the Clinton Administration, and presumably as President of Haaavaad, but a reorg might be better in this than another underbussing.

Posted by John Kranz at 11:10 AM | Comments (0)

Quote of the Day

Obvious but good. In a great editorial about the real costs of regulation (this time licensing tax preparers), the good folks at the WSJ Ed Page tell it not unlike how it actually exists:

We can certainly understand why Mr. Geithner wants government to do his returns, but please spare the rest of us.

UPDATE: Honorable Mention to the same folks:
"This is my moment to step aside," Christopher Dodd said yesterday in front of the East Haddam, Connecticut home that he once financed with the help of Countrywide Financial.

Ow. That's gotta sting a little.

Posted by John Kranz at 10:32 AM | Comments (0)

December 30, 2009

Quote of the Day

Don't faint, but I'm giving it to MoDo:

If we can’t catch a Nigerian with a powerful explosive powder in his oddly feminine-looking underpants and a syringe full of acid, a man whose own father had alerted the U.S. Embassy in Nigeria, a traveler whose ticket was paid for in cash and who didn’t check bags, whose visa renewal had been denied by the British, who had studied Arabic in Al Qaeda sanctuary Yemen, whose name was on a counterterrorism watch list, who can we catch? -- Maureen Dowd

Hat-tip: Legal Insurrection

Posted by John Kranz at 12:41 PM | Comments (2)
But Perry Eidelbus thinks:

Well, you know the old saying about a broken clock. The rest of her op-ed (almost exactly 90%) is the usual excrement, though. "Well, yeah, Obama's screwing up, but let's blame Bush!"

Being the furthest thing from a Bush fan, I still have to wonder why the jihadists waited until the new president to do this. Hmm!

Posted by: Perry Eidelbus at December 30, 2009 1:42 PM
But Perry Eidelbus thinks:

Oh, as far as Dowd hoping the terrorists won't attack the vicinity of the White House, she has nothing to fear. The White House, Treasury Department, Capitol Hill and similar locations are the safest places to be during a terrorist attack, but not for the reason most people think.

It's like the 9/11 hijackers would have never thought to hit the UN building: why would the terrorists want to harm their allies on American soil, namely those destroying the country from within?

Posted by: Perry Eidelbus at December 30, 2009 1:47 PM

December 29, 2009

Headline of the Day

Don Luskin links to this story:

Apparently, the Social Security Administration (SSA) believes that a “shovel ready” project means digging up the dead to hand them a stimulus check.
In fact, the SSA reported that more than 10,000 stimulus checks were sent to the dead.

With the headline: "NOW THAT'S STIMULUS New hope for the dead!"

Posted by John Kranz at 1:15 PM | Comments (0)

I Take it Back

It looks like I can blame the Administration after all. Thanks, AP:

WASHINGTON – Two federal agencies charged with keeping potential terrorists off airplanes and out of the country have been without their top leaders for nearly a year.

It took the Obama administration more than eight months to nominate anyone to lead the Transportation Security Administration and the Customs and Border Protection agency.

President Barack Obama has ordered a review of U.S. security policies following the failed Christmas Day attack on a Detroit-bound flight from Amsterdam. He vowed Monday to "do everything that we can to keep America safe."


We would not have gone with a health care czar for eight weeks. Yet, those stupid, time-wasting, enumerated powers...

Posted by John Kranz at 10:15 AM | Comments (3)
But Perry Eidelbus thinks:

Obama will "do everything that we can to keep America safe." That means "starting now." Ergo, until this time his administration has not been doing everything it can.

Posted by: Perry Eidelbus at December 29, 2009 12:06 PM
But jk thinks:

The system worked perfectly Perry! Now if we can just post a Dutch filmaker on every flight...

Posted by: jk at December 29, 2009 12:28 PM
But johngalt thinks:

I'm brainstorming an "air traveler safety kit" that includes a "Citizen TSA Agent - Deputized by Janet Napolitano" T-shirt and a pair of fire resistant gloves.

Posted by: johngalt at December 31, 2009 5:13 PM

December 28, 2009

Give me a "Duh!'

I don't have the intestinal fortitude to watch "This Week with George Stephanopoulos." But yesterday, by accident, I was up and tuned in when it came on. Jake Tapper was interviewing Secretary Napolitano. In spite of admirable effort, he could not shake the Secretary out of happy talk mode.

"All the systems performed properly!" said the woman who believes herself to be in charge of our personal safety. No, no problems here.

The headline this morning is "Napolitano concedes airline security system failed" and even the AP is a bit wry in the lead paragraph:

WASHINGTON – Homeland Security Secretary Janet Napolitano conceded Monday that the aviation security system failed when a young man on a watchlist with a U.S. visa in his pocket and a powerful explosive hidden on his body was allowed to board a fight from Amsterdam to Detroit.

Misconstrue me not. I don't blame the Secretary or the Administration for the failure. But her insistence that nothing was wrong portends poorly for hopes to correct it.

UPDATE: Janet, You're Doin' a Heck of a Job! I do love the Internets...

Posted by John Kranz at 10:54 AM | Comments (1)
But johngalt thinks:

A "young man" boarded a flight. Hmmm. Wonder if any other facts might be germane.

Posted by: johngalt at December 28, 2009 1:09 PM

December 13, 2009

Torching the Strawmen

Mark Steyn captures something that always disturbs me in President Obama's speeches. Steyn exposes the insane strawman arguments with this perfect reductio ad absurdum:

The usual trick is to position their man as the uniquely insightful leader, pitching his tent between two extremes no sane person has ever believed: "There are those who say there is no evil in the world. There are others who argue that pink fluffy bunnies are the spawn of Satan and conspiring to overthrow civilization. Let me be clear: I believe people of goodwill on all sides can find common ground between the absurdly implausible caricatures I attribute to them on a daily basis. We must begin by finding the courage to acknowledge the hard truth that I am living testimony to the power of nuance to triumph over hard truth and come to the end of the sentence on a note of sonorous, polysyllabic if somewhat hollow uplift. Pause for applause."

The whole column is -- of course -- worth a read.

Posted by John Kranz at 12:15 PM | Comments (1)
But johngalt thinks:

I really appreciated Steyn's close: "For those of us who oppose the shriveling of liberty in both Washington and Copenhagen, a windy drone who won't sit down keeps the spotlight on the racket. Once more from the top, Barack!"

It is true that the most effective way to keep TEA Party sentiment at a fever pitch is to make sure everyone is continually reminded that Barack Obama is the President of the United States. (Yes, you read that correctly. No, your eyes do not deceive you.)

And in the shameless self-promotion department, Steyn didn't get the memo that "2009 is the first year of global governance" but he would have if he read Three Sources.

Posted by: johngalt at December 15, 2009 4:09 PM

December 8, 2009

Spend Our Way Out of Debt!

Spend our way out of obesity!

Spend our way out of alcoholism and drug addiction!

AP:

New Obama plans: 'spend our way out' of downturn

WASHINGTON – President Barack Obama outlined major new government stimulus and jobs proposals on Tuesday, saying the nation must continue to "spend our way out of this recession."

Without giving a price tag, Obama proposed a package of new spending for highway, bridge and other infrastructure projects, deeper tax breaks for small businesses and tax incentives to encourage people to make their homes more energy efficient.


As Professor Reynolds would say "What could possibly go wrong?"

Posted by John Kranz at 12:56 PM | Comments (2)
But AlexC thinks:

this is a new plan?

I could have sworn that Vice President Biden said we have to spend to save. or something like that.

Posted by: AlexC at December 8, 2009 5:24 PM
But jk thinks:

Gotta confess it didn't sound really groundbreaking to me either. You do have to admire the directness of the AP headline, though.

Posted by: jk at December 8, 2009 5:41 PM

December 2, 2009

Quote of the Day

In the future, everyone will be CEO of GM for fifteen minutes. -- Jim Geraghty
Posted by John Kranz at 2:50 PM | Comments (1)
But jk thinks:

That's why I've agreed to send in 30,000 new GM CEO's next year. But this is not "a blank check" for General Motors -- these executives will be redeployed by the end of 2011.

Posted by: jk at December 2, 2009 2:57 PM

December 1, 2009

Quote of the Day

Under ordinary circumstances anybody who contributed to the destruction of Harvard would be hailed as a national hero, but Summers has gone on to make the whole country poorer. -- Tim Cavanaugh
Posted by John Kranz at 10:21 AM | Comments (0)

November 30, 2009

Eminently Qualified

I can't beat Scrivener's headline: "Now that he's running the entire economy, don't we all feel better?"

Advisers told Summers, others not to put so much cash in market; losses hit $1.8b
[...]
But the warnings fell on deaf ears, under Summers’s regime and beyond. And when the market crashed in the fall of 2008, Harvard would pay dearly, as $1.8 billion in cash simply vanished. Indeed, it is still paying, in the form of tighter budgets, deferred expansion plans, and big interest payments on bonds issued to cover the losses...

Harvard ... would pay $500 million to get out of the interest-rate swaps Summers had entered into, which imploded when rates fell instead of rising...

Summers, now head of President Obama’s economic team, declined to be quoted on his handling of Harvard finances...

Posted by John Kranz at 5:48 PM | Comments (0)

November 25, 2009

Inter'stin'

Nick Shultz brings us an interesting graphic:

obamacabinet.jpg

That underscores something I appreciated (blast from the past link) about President George W Bush, and one is not surprised to see Presidents Kennedy (best and brightest), Carter and Clinton eschew the evil corporate types for academics and pols.

But, to be fair, let's look at the outlier(s). A good, long, blue stripe didn't keep President Nixon from giving us wage/price controls, the EPA and abandoning Bretton-Woods.

Posted by John Kranz at 11:15 AM | Comments (0)

November 23, 2009

Nice Guy Act Gets President Nowhere

Those right-wing neocons at Der Spiegel are again doing what they can to sabotage the current President, saying "His recent trip to Asia, however, showed that it's not working. A shift to Bush-style bluntness may be coming.":

Lost Some Stature
Upon taking office, Obama said that he wanted to listen to the world, promising respect instead of arrogance. But Obama's currency isn't as strong as he had believed. Everyone wants respect, but hardly anyone is willing to pay for it. Interests, not emotions, dominate the world of realpolitik. The Asia trip revealed the limits of Washington's new foreign policy: Although Obama did not lose face in China and Japan, he did appear to have lost some of his initial stature.

In Tokyo, the new center-left government even pulled out of its participation in a mission which saw the Japanese navy refueling US warships in the Indian Ocean as part of the Afghanistan campaign. In Beijing, Obama failed to achieve any important concessions whatsoever. There will be no binding commitments from China to reduce greenhouse gas emissions. A revaluation of the Chinese currency, which is kept artificially weak, has been postponed. Sanctions against Iran? Not a chance. Nuclear disarmament? Not an issue for the Chinese.

The White House did not even stand up for itself when it came to the question of human rights in China. The president, who had said only a few days earlier that freedom of expression is a universal right, was coerced into attending a joint press conference with Chinese President Hu Jintao, at which questions were forbidden. Former US President George W. Bush had always managed to avoid such press conferences.


UPDATE: A good friend sends this link: Even Chris Matthews sees "Carteresque Mistakes." Matthews saw the original Carter mistakes up close and personal.

Posted by John Kranz at 6:59 PM | Comments (0)

November 18, 2009

Bottom Story of the Day

If I can borrow Taranto's riff, here's my "bottom story of the day:" Another Obama nominee runs into tax problems

WASHINGTON – President Barack Obama's choice for a top job with the Treasury Department is having tax problems.

A congressional report says Obama's nominee for undersecretary of the Treasury for international affairs, Lael Brainard, was late in paying real estate taxes in 2005, 2006 and 2007.

The report by the Senate Finance Committee staff also challenges the accuracy of a deduction Brainard claimed for running an office from her home. The challenge led Brainard to reduce the deduction on her 2008 return.

The committee's top Republican is unhappy that the committee staff had to submit 10 sets of questions to Brainard before getting complete information about the discrepancies.


Yawn.

Posted by John Kranz at 3:04 PM | Comments (0)

November 13, 2009

Didja See This? Didja?

The Obama Administration is "Empowering Consumers" by taxing their health plans!

According to Phil Klein of the American Spectator, Christina Romer, head of President Obama’s Council of Economic Advisers, had this to say today about the Senate’s proposed excise tax on high-end health insurance policies:

“Part of the idea of how that is going to work is precisely because it does empower consumers. It empowers each of us to have an employer-sponsored plan to call our HR office and say, ‘Would you negotiate harder? Would you think about (whether this) is the most efficient plan out there, because I don’t want my plan paying an excise tax.' So I think that’s something that is very much empowering consumers.”


I was really empowered when I bought my 255' Yacht. I said "Hey, Skippy, what can we do to get the price down below the Luxury Tax?"

Where are these people from? You want empowerment, tax all heath plans and provide a personal deduction. But this spin makes me weep.

Hat-tip: Instapundit

Posted by John Kranz at 3:33 PM | Comments (1)
But Perry Eidelbus thinks:

If you want real "empowerment," stop taxation. All of it. Otherwise you're merely minimizing the contraption called "government" by which some people live off others' labor.

"Not knowing who the particular individuals are, who call themselves 'the government,' the taxpayer does not know whom he pays his taxes to. All he knows is that a man comes to him, representing himself to be the agent of 'the government' – that is, the agent of a secret band of robbers and murderers, who have taken to themselves the title of 'the government,' and have determined to kill everybody who refuses to give to them whatever money they demand. To save his life, he gives up his money to this agent. But as the agent does not make his principles individually known to the taxpayer, the latter, after he gives up his money, knows no more who 'the government' – that is, who were the robbers – than he did before. To say, therefore, that by giving up his money to the agent, he entered into a voluntary contract with them, that he pledges himself to obey them, to support them, and to give them whatever money they should demand of him in the future, is simply ridiculous." - Lysander Spooner

Posted by: Perry Eidelbus at November 13, 2009 4:04 PM

November 10, 2009

Creepism of the Day

The Justice Department wants a list of IP addresses for a website:

In a case that raises questions about online journalism and privacy rights, the U.S. Department of Justice sent a formal request to an independent news site ordering it to provide details of all reader visits on a certain day.

The grand jury subpoena also required the Philadelphia-based Indymedia.us Web site "not to disclose the existence of this request" unless authorized by the Justice Department, a gag order that presents an unusual quandary for any news organization.


They came for FOXNews and I was silent because I did not have cable...

Hat-tip: a friend of ThreeSources "sent from her iPhone."

Posted by John Kranz at 12:01 PM | Comments (3)
But Keith thinks:

Correct answer to the DOJ: "When you pry it from my cold, dead event logger."

Most transparent administration EVAH!

Posted by: Keith at November 10, 2009 1:45 PM
But Perry Eidelbus thinks:

They are transparent, just not in the way Obama wants us to think. We can see right through, to the very core of his evil.

Posted by: Perry Eidelbus at November 10, 2009 2:22 PM
But Perry Eidelbus thinks:

I'm heart-warmed yet not surprised the EFF is involved. No ACLU, though, huh. That's no shock.

Posted by: Perry Eidelbus at November 10, 2009 2:24 PM

November 5, 2009

One Year

One year after the election, he's still campaigning.

Posted by Harrison Bergeron at 1:13 PM | Comments (1)
But johngalt thinks:

Do you suppose he'll campaign for re-election 3 years hence on the same theme? Or even a year from now, stump for more Democrats in Congress to "help me recover from what Bush did for the last 8... uh, 8 of the last 10 years?"

Posted by: johngalt at November 5, 2009 3:09 PM

November 4, 2009

Jobs Saved

I don't think any ThreeSourcers were fooled by the "jobs saved or created:" lingo, but I'll recommend Prof Mankiw or The Everyday Economist for serious debunking.

Me, I'll just enjoy some anecdotal evidence :

WASHINGTON -- President Barack Obama's economic recovery program saved 935 jobs at the Southwest Georgia Community Action Council, an impressive success story for the stimulus plan. Trouble is, only 508 people work there.

Or:
Moore's slice of the stimulus came in an $889.60 order from the Army Corps of Engineers for nine pairs of work boots for a stimulus project.

Moore says he’s been supplying the Corps with boots for at least two decades. This year, because he provided safety shoes for work funded by the stimulus package, he said he got a call from the Corps telling him he had to fill out a report for Recovery.gov detailing how he’d used the $889.60, and how many jobs it had helped him to create or save. He later got another call, asking him if he’d finished the report.

"The paperwork was unreal," said Moore, who added that he tried to figure out how to file the forms online, then gave up and asked his daughter to help.

Posted by John Kranz at 4:12 PM | Comments (1)
But johngalt thinks:

Don't you see, Moore's is the job that was "saved" and his daughter's was the job "created." He's cranky now but wait until the IRS contacts him about failure to withold from his daughter's paychecks. Hint: In-kind payment still has a dollar value.

Honestly, all of the government jobs to count the Stimulus "benefit" is the main source of job creation.

Posted by: johngalt at November 5, 2009 3:00 PM

October 30, 2009

Word of the Day

Ukase: 1 : a proclamation by a Russian emperor or government having the force of law
(M-W)

Use it in a sentence, jk! Well, let me quote Stanford Law Professor Michael McConnell:

Mr. [Pay Czar Kenneth] Feinberg's ukase is the most prominent example (and not just by the Obama administration) of the exercise of power by an individual unilaterally appointed by the executive branch without Senate confirmation—and thus outside the ordinary channels of Congressional oversight.

McConnell is director of Stanford's Constitutional Law Center and his editorial asks what some ThreeSourcers have been asking for a while: what is his Constitutional footing for these Executive arrogations?

Some other Law Professor in Tennessee who has a little blog mentions: "You know, if a Republican President were doing this many bizarre things, public-interest lawyers would be suing right and left to stop them." I wonder where the media is [hey, stop laughing out there!] President Bush was barraged with accusations -- some well deserved -- of his and VP Cheney's "shredding the Constitution." Both were unabashed believers in Executive power.

Now that the new administration has turned the dial up from 8 to 11, these once fierce watchdogs are suddenly pretty comfortable with unipartate government: Humphrey’s Executor v United States anybody?

-------------------------------------------------------------

By the way, yesterday's Word of the Day comes from my brother: condylarth (noun) a fossil herbivorous mammal of the early Tertiary period, ancestral to the ungulates. Do not play hangman with my brother, just don't!

Posted by John Kranz at 11:17 AM | Comments (0)

October 28, 2009

'Nother One for JG

In our continuing quest to run down the President, we bring you...

No, Blog Brother Johngalt asked for examples of disingenuousness from the President for use in a family email thread. Here's one (video at the link).

Candidate Barack Obama: “When I’m elected president you’re going to see this health care legislation written in the open. It’s going to be on C-SPAN, and you’ll be able to see all the different people arguing to see whether they’re on your side or they’re on the side of the drug companies and the insurance companies and so on. But you’ll be able to see that process on C-SPAN.”

Small point of order -- the guys in my side are "on the side of the drug companies and the insurance companies and so on" but that is off-point. Candidate/Senator Obama promised all kinds of transparency: 48 hours of bills online, CSPAN debates, &c. President Obama, conversely, is selecting which private companies constitute news organizations and ramming bills through the legislative process even too fast for Congress (think about that...)

UPDATE: Also curious that he had no compunction about dictating policy to the Legislative Branch and sadly less curious that noone called him on it.

Posted by John Kranz at 3:22 PM | Comments (0)

October 20, 2009

Top of the Top 20

No, not "So You Think You Can Dance," rather The 20 best Signs at the San Francisco Tea Party.

All worth a look, but here's my favorite:
were_back.jpg

I had a private email thread with a ThreeSources friend who has been pretty skeptical of the Tea Party movement. I would second Zomblog's experience if not his exact description:

Since I had never before encountered an actual “Tea Party” (i.e. an anti-Obama protest by conservative, libertarian and/or right-wing voters), I was curious to see if the partiers lived up to their reputation as “extremists” (at least as portrayed by the media). But instead of scary extremism, what I found was a surprising and piercing sense of humor (something that had been mostly lacking from the angry protests of the Bush era).

Hat-tip: Instapundit

Posted by John Kranz at 12:47 PM | Comments (5)
But T. Greer thinks:

A nice try Jk. Sadly, these pics don't make me feel much better. Again, I have to ask: Are we standing for principles or are we standing for partisans? More than half of the pictures were just attacks on the President; more than one were statements about his Nobel win. Is this not a perfect example of muddying the movement?

Posted by: T. Greer at October 21, 2009 2:16 PM
But jk thinks:

Did I say "tough room?"

The poster calls the tea-party movement anti-Obama: no surprise that he picked a few examples.

I am piggybacking on his suggestion of wit. I spent most of my time at the Denver Do laughing at homemade signs. The antiwar left thought it the height of cleverness to use a swastika for the s in Bush (get it? Bush is like Hitler!)

President Obama is the face of the current "regime" (a bad but effective word) and I think poking fun at the Prez is a pretty American activity. A good friend of this blog pictured the President as a doctor snapping on a rubber glove and I am still laughing.

When the union thugs show up and pass out the signs, tg, you get a nice consistent message: "Reform Health Care NOW!" When "We the People" show up, it can be a little messy.

Lastly, I am the pragmatist here. I do not expect to get to 51% of true believin', first-principle-espousin' electorate. I don't mind if the racists and the birthers stay home, but if some people want to protest against Obama next to me with my Gadsden Flag, I'm cool.

Posted by: jk at October 21, 2009 3:27 PM
But T. Greer thinks:

JK, I have brought this point up to you a few times before, and I will repeat it again -- if you want to the tea parties to serve the same function as the pointless anti-war rallies of the Bush years, then feel free to keep comparing the two. However, if you think the tea parties are something more, the start of a "movement", as you have said, then they need to be held to a higher standard. Either the tea parties are spontaneous and aimless displays of anger against leftists, which by their very nature cannot be ideologically coherent, or they are the seeds of a new age and have an integral part to play in the history of our nation.

You can have one or you can have the other. You cannot have both.

I do recognize that We the People are not an automation, ready to fight like robots for a cause. Yet I see very little evidence that there is even a general consensus of what this cause should be. The New York redneck holding up the sign, "Obama, our troops won your peace prize" is simply not on the same wavelength as the CATO fellow calling for an end to American socialism.

Posted by: T. Greer at October 23, 2009 6:19 AM
But johngalt thinks:

Are you sayin' there are Rednecks in New York City? Get outta town!

Seriously though, it's ironic that you're criticism of the Tea Party movement is over coherence. I find a lack of coherence in your commentary. Please correct me where I misunderstand:

You imply that standing against a president whose principles are antithetical to yours is mere partisanship. Why can't it be a principled stand at the same time?

And why is it automatically a legitimate movement if it is based on principles? The reason the anti-war rallies were pointless was because their principles were at the fringe of American thought, not because they didn't have any.

The reason that Tea Parties represent a movement is that the dominant paradigm, which the leftists have agitated so long and hard to subvert, is no longer dominant in the goverment and corporate realms. But the basic values of most Americans have not changed and they want their government back. Forgive them if they protest and demonstrate like buffoons. They aren't as practiced in the art as the prior generations of rabble rousers. (Nor do they have the built-in advantage of being stoned as they wave their signs and sing.)

Posted by: johngalt at October 24, 2009 6:34 PM
But jk thinks:

Heh. Brother jg takes up the hand-lettered banner just as I am conceding defeat in a private email thread.

Yes, tg, I do look for the Tea Party movement to be about six magnitudes more effective than the hippies in New York. If it's no more or little more than that, then yes it is a failure.

Mister-mutual-forbearance also agrees with jg that partisanship -- especially opposition - does not discredit the protesters. If they were all waving "re-elect Don Young" signs and wearing GOP T-Shirts, that would not do. But opposing a President who has shown an incredible appetite for enlarging government seems consistent with principle.

Posted by: jk at October 24, 2009 6:46 PM

October 19, 2009

A Fulsome Cheer for the Obama Administration!

The Obama Administration takes a step toward increasing liberty:

Yahoo/AP: WASHINGTON – Federal drug agents won't pursue pot-smoking patients or their sanctioned suppliers in states that allow medical marijuana, under new legal guidelines to be issued Monday by the Obama administration.

Two Justice Department officials described the new policy to The Associated Press, saying prosecutors will be told it is not a good use of their time to arrest people who use or provide medical marijuana in strict compliance with state law.


Now, I know that I don't speak for all ThreeSourcers with my appeal for both medical marijuana and decriminalization. But I will appeal to a belief in Federalism, the Tenth Amendment, and opposition to Raich v Gonzales and Wickard v Filburn which I am guessing may be moderately universal 'round these parts.

This was always my hope of a small silver lining in the dark cloud of President Obama's arrogation of executive power. Mister Holder at DOJ did not set a high bar and I feared that the Obama years would be a perfect goose-egg for liberty. But this is good. Huzzah!

Posted by John Kranz at 11:31 AM | Comments (10)
But jk thinks:

Tough room.

I respect all the points made. But none has contradicted my reason for encouragement. I would have preferred a cut-and-run in the drug war, I would have preferred to see Raich overturned, I would have liked to have seen the Rockies beat the Phillies.

But the administration has stated that it will not "pull a Raich" like John Ashcroft. The people of the State of California (and Colorado) have been allowed to decide a question of Intrastate commerce without Federal intrusion. Good thing.

Posted by: jk at October 19, 2009 4:30 PM
But Keith thinks:

I'll carry Perry's thought one step further - that this requires not turning over more of one's property, but of one's privacy. In the limited-access model, the State has a right to probe into your medical records to put its approval on whether or not you are allowed your cannabis. In California, where there's no difficulty shopping around for a doctor who will write a note for you, and the spliff parlors will refer you to the right ones, you'll find that for every Angel Raich, there are - and this is a a debatable number - thirty who are simply gaming the system to get high legally.

For example: "... marijuana is now available as a medical treatment in California to almost anyone who tells a willing physician he would feel better if he smoked..." http://www.washingtonpost.com/wp-dyn/content/article/2009/04/11/AR2009041100767.html

I doubt any regular reader of ThreeSources would believe that there are enough legitimate patients just in Los Angeles to support the 400 existing retail outlets. I'd be interested in seeing a market analysis on this. Or not.

The notion of giving a small minority a special legal right to toke up, and not the general adult population as a whole, is offensive - especially when the pretended limitations are so flagrantly gamed, as they are in California. Whether grass should be legalized is not a debate I'm trying to open up here, but I think the majority opinion here, perhaps grudgingly from some members, is that it should be consistently allowed to all, or to none, if this is to be decisided on our principled commitment to individual liberty.

Hopefully, I'm providing the occasional surprises to at least some among us...

Posted by: Keith at October 19, 2009 5:23 PM
But johngalt thinks:

Excellent point Keith. I hadn't thought of it that way, although I should have. Maybe I was distracted by the munchies...

Posted by: johngalt at October 19, 2009 7:19 PM
But jk thinks:

Yup, the "pharmacies" around Colorado are incredibly seedy (pun not intended, but I am going to leave it; the discourse on this topic can not go much lower...) Many have a doctor right there who can evaluate your condition and write a prescription.

It is insane on multiple levels, but I am still happy. One Angel Raich versus a million opportunists -- I am still glad to see her get her medicine. Is that not what liberty is about?

Let me turn up my crank cred -- I would abolish the prescription system entirely. But as long as we have it, it is not a violation of privacy to use it.

While we are proclaiming bona fides, please do not misjudge that I am pleased for reasons beyond politics and philosophy. Many friends ask why I don't sign up. I do not have the pain that some MS patients have. For my purposes, the disease is too close to being stoned -- if I could smoke something to sober me up, I'd buy it off a high school kid.

Posted by: jk at October 19, 2009 7:59 PM
But Keith thinks:

jk: totally with you on the abolition of the prescription system. Any time the nannystate limits access to a good or service - be it medications or Manhattan taxi licenses - the cost of that good increases unnecessarily. Furthermore, the government doesn't indemnify anything it licenses. Whether it's the effectiveness or safety of that medication, or the driving skills of that cabbie, just because the government says it's good doesn't mean they'll make you whole when they prove wrong.

Of course, what this would mean is that suddenly people have to become smarter and better informed. The citizenry would have to learn how to tell an honest and safe cabbie from the other kind, and good meds from snake oil. This could become a Darwinian natural-selection process all its own.

Posted by: Keith at October 20, 2009 12:21 PM
But Perry Eidelbus thinks:

I was actually going to mention that the state can catch you getting a paycheck but can't catch you smoking weed if you do it right, hence why I think it's absurd that people ignore what Obama will tax and seize, thinking, "Hey, at least now we can smoke pot!" But I'll stop here lest the IRS go Willie Nelson on me. If you think the Clintons used the IRS as a weapon, it will pale in comparison to Obama wielding the power of every federal agency against his "enemies." And for the record, I don't even smoke cigarettes.

Keith, the notion of "giving" any right to anyone is offensive to me.

Posted by: Perry Eidelbus at October 20, 2009 12:23 PM

October 16, 2009

Obama the forthright

Is President Obama disingenuous? I've been searching for evidence of this to share with a dear cousin who believes that Sarah Palin is, but Barack Obama is not. My handicap is that her chosen news sources are all on television: FOX, KERA, ABC, CBS.

I wonder if this editorial The Baucus Bill is a Tax Bill would make any impression on her?

Most astounding of all is what this Congress is willing to do to struggling middle-class families. The bill would impose nearly $400 billion in new taxes and fees. Nearly 90% of that burden will be shouldered by those making $200,000 or less.

Somewhere between $360,000,000,000 and "one dime" is a broken campaign promise. Unfortunately, it was in a newspaper. Worse yet, on the opinion page.

Posted by JohnGalt at 2:26 PM | Comments (6)
But T. Greer thinks:

I would just mention Obama's big campaign pledge -- Anybody in the lowest 95% would have no tax increase. This has not proven to be true. The WSJ ran a nice Op-ed a month or so ago on the subject....

Posted by: T. Greer at October 17, 2009 2:58 AM
But jk thinks:

Perhaps it's in the eye of the beholder, but I see a large disconnect between the promises of post-partisanship and post-racial identity, &c. versus the reailty of bare-knuckle, Chicago, Democratic, we got the votes and don't need-you governance.

Posted by: jk at October 17, 2009 8:05 PM
But Perry Eidelbus thinks:

Clearly the WSJ is run by right-wing extremists who bitterly cling to guns and religion. They will be the first to go to the Saint Obamus Re-Education Camps for the Economically Insensitive.

Saint Obamus hath promised much unto the 95%, and yea, do any of ye doubt him?

Indeed, the parable of the virgins is now thus:

Then shall the kingdom of heaven be likened unto twenty virgins, which took their lamps, and went forth to meet the bridegroom, Obamus.

And one was wise, but nineteen were foolish.

They that were foolish took their lamps, and took no oil with them:

But the one wise took oil in her vessel with her lamp.

While the bridegroom tarried, they all slumbered and slept.

And at midnight there was a cry made, Behold, the bridegroom cometh; go ye out to meet him.

Then all those virgins arose, and trimmed their lamps.

And the foolish said unto the wise, Give us of your oil; for our lamps are gone out.

But the wise answered, saying, Not so; lest there be not enough for me and you: but go ye rather to them that sell, and buy for yourselves.

And Obamus appeared and said, Verily I say unto you, unfair are you to the others, and I shall take of your oil and redistribute unto them. It mattereth not that you have been faithful and watching, for lo, thou hast been economically insensitive in not giving despite their foolishness.

And so Obamus took her oil, and it being insufficient for the needs of all, soon all their lamps went out and none had any light.

("Socialist governments traditionally do make a financial mess. They always run out of other people's money." - Margaret Thatcher)

And there was much weeping and gnashing of teeth, for they realized that Obamus had no light of his own.

Posted by: Perry Eidelbus at October 18, 2009 10:57 AM
But jk thinks:

Verily I worry about thee, Brother Perry, but thou mak'st me laugh.

Posted by: jk at October 18, 2009 11:26 AM
But Keith thinks:

King James construction notwithstanding, Brother Perry, that was an outstanding and thoroughly appropriate use of that parable! I would call that positively... inspired...

Posted by: Keith at October 18, 2009 5:18 PM
But johngalt thinks:

Yes TG, the "no tax increases for those earning under $250,000" was the campaign pledge I intended to show was false. Although none of these new taxes are part of any legislation that's already passed and been signed by him, is it?

I'm reminded of another campaign pledge - that proposed legislation should be "posted on the internet" for four days prior to a vote to ensure "transparency" and to "hold the government to account." Yeah, right.

Posted by: johngalt at October 19, 2009 1:37 PM

October 14, 2009

Cass Sunstein v. Cheerios II

I try to imagine the clinical trial for Cheerios®:

  • Five thousand members will be enrolled;

  • 2500 will get placebo Cheerios® (General Mills to provide sufficient portions of Cheerios® without whole grain oat bran. Must be indistinguishable from commercially available drug);

  • 1250 participants will consume a 2.5 oz portion of Cheerios® daily with milk

  • 1250 participants will consume a 1.25 oz portion of Cheerios® daily with milk

  • Double blind study. Participants will be randomized into the three groups. Neither doctor will be informed whether patient receiving actual Cheerios® or placebo.

  • All participants will be tested every four weeks for LDL and HDL cholesterol level, plus liver and kidney panels to ensure no harmful side effects from drug;

  • The study will last 96 weeks;

  • Participants will receive Cheerios® or placebo provided by General Mills for the length of trial, and will be compensated $100 each at the completion of the study;

  • Results will be analyzed and presented to the Food and Drug Administration (FDA) within three years.

If you're gonna do something, do it right.

Posted by John Kranz at 11:33 AM | Comments (2)
But johngalt thinks:

At which point the FDA will rule that more trials are needed and keep the potentially dangerous 'Cheeriocin' drug off of the market. Millions of little tykes will then be forced to continue the "safer" alternative: Fruit Loops (which wisely carry no label suggesting any possible health attributes.)

Hmmm, what would that look like? "Fruit Loops - Packed with calories that studies show helps to prevent malnourishment, frailty or even death."

Please pass the medical marijuana. I need a dose.

Posted by: johngalt at October 14, 2009 12:26 PM
But jk thinks:

Yeah, and one guy would die during the trial so they'd all have to be pulled off the shelves...

Posted by: jk at October 14, 2009 12:33 PM

Cass Sunstein v Cheerios

Extinguish the lamp of liberty now. Why drag it out further?

Reason had a post on this yesterday: Cheerios' Reign of Terror Must Be Stopped! Or, Thank God For Cass Sunstein. Really.

"A handful of Obama appointees," writes the Post, "are awakening a vast regulatory apparatus with authority over nearly every U.S. workplace, 15,000 consumer products, and most items found in kitchen pantries and medicine cabinets."

Near the top of the list? The dread menace of Cheerios, the burp-inducing breakfast cereal that lies (lies!) about its crunchety goodness and heart-helping properties. Or at least needs to run clinical studies on more unwilling children


Nick Gillespie told me to read the whole article but I confess I did not. A ThreeSources friend, however, mails a link to the original WaPo story -- and it is eerily worse than Gillespie's ridiculing:
"In the Bush administration, the problem was that the political folks were hostile to the mission," said Michael A. Livermore, executive director of the Institute for the Study of Regulation at New York University Law School. "We've already seen the new direction of this White House play out in other regulatory aspects -- the Environmental Protection Agency and financial regulation. With the consumer protection agencies, you're going to see a lot more stuff happening because they fit Obama's broad vision for government."

Three thoughts:
1) Oh crap! "They are awakening a vast regulatory apparatus..."

2) Score one for the little-l libs who defended Sunstein while the Social Conservatives were seeking a scalp. As my emailer says "Who wudda thunk Cass Sunstein is all that is standing between me and the jackboots swooping in to take my cheerios?"

3) Can we get our Democrat friends to agree that this arrogation of power to the executive branch is not healthy? Really guys, President Palin or Huckabee or some monster you'll despise will be elected someday and will have these levers of power at his or her disposal. Let's go back to Congress making the laws as described in Article I "All legislative Powers herein granted shall be vested in a Congress of the United States, which shall consist of a Senate and House of Representatives. "


Posted by John Kranz at 10:14 AM | Comments (0)

October 11, 2009

Carter Round II

A friend passed me this Atlantic story from May 1979, The Passionless Presidency...

Sixteen months into his Administration, there was a mystery to be explained about Jimmy Carter: the contrast between the promise and popularity of his first months in office and the disappointment so widely felt later on. Part of this had to do with the inevitable end of the presidential honeymoon, with the unenviable circumstances Carter inherited, with the fickleness of the press. But much more of it grew directly from the quality Carter displayed that morning in Illinois. He was speaking with gusto because he was speaking about the subject that most inspired him: not what he proposed to do, but who he was. Where Lyndon Johnson boasted of schools built and children fed, where Edward Kennedy holds out the promise of the energies he might mobilize and the ideas he might enact, Jimmy Carter tells us that he is a good man. His positions are correct, his values sound. Like Marshal Petain after the fall of France, he has offered his person to the nation. This is not an inconsiderable gift; his performance in office shows us why it's not enough.

It's quite long, but definitely worth a read.

Posted by AlexC at 2:34 PM | Comments (6)
But johngalt thinks:

Just yesterday a respected friend said, "Carter was a good man, he was just lousy as a President." Comports pretty well with this excerpt.

Posted by: johngalt at October 11, 2009 3:05 PM
But Keith thinks:

Carter certainly seemed a good man, though an awful president, while in office. I've always sort of assumed it was his chase for a Nobel and his desperate hunger for a "legacy" that turned him into the friend-of-our-enemies he is today.

Conversely, I seem to recall it being George Will that said "Clinton is not the worst President the Republic has had, but he is the worst person ever to have been President."

Nine months into his first term, and I'm already thinking Obama will break both records - and be seem as both the worst President and the worst man to be President.

Posted by: Keith at October 12, 2009 11:50 AM
But jk thinks:

Share the bipartisan wealth a little: I always thought the same about President GeorgeHerbertWalkerBushFortyOne.

Reading Barbara's Book, or his edition of personal letters, one is pretty overwhelmed with his integrity, patriotism and decency (we're talking pols, that's a high bar!)

And yet, he lacked the fundamental philosophical footing to even be a caretaker for the Regan revolution.

Posted by: jk at October 12, 2009 12:32 PM
But Boulder Refugee thinks:

I will take issue with Carter even being a decent person, given the vitriol that he hurled at GWB while violating the unspoken rule for past presidents not to critize the current president. Says much about the man's character, or lack thereof.

Some years ago, a Friend of The Refugee served as a driver for the Carter entourage while on a trip to Vail. According to this Friend, Carter was arrogant, rude, inconsiderate of his guests and at times downright nasty, even to Roslyn. Narcissist may be the best descriptor.

Posted by: Boulder Refugee at October 12, 2009 4:47 PM
But Keith thinks:

I find it impossible to disagree with either jk or the Refugee. I agree on the assessment of Bush 41. Nice guy, probably a fine neighbor, he'd be welcome at my dinner table, I'd even consider lending him tools. President? Not so much. He lost me with the "voodoo economics" crack, and then later for not steamrolling into downtown Baghdad when he had the chance. The best thing to commend him is that he was better than the competition.

Refugee: my "seemed... while in office" syntax was deliberate. Seeming is not the same as being, I'm afraid, especially in politics. I attribute my first Presidential vote, in '76, to the fact that Carter seemed a good guy, was not Jerry Ford, and seemed like what the country needed to wash away the rancor of Watergate. I've been trying to make up for that vote ever since.

Posted by: Keith at October 12, 2009 6:37 PM
But jk thinks:

Brother Keith: Heh, My first was four years later and I voted for John Anderson! My pragmatism is my sackcloth and ashes...

Posted by: jk at October 12, 2009 8:07 PM

October 9, 2009

More liked, Less Respected

Today's announcement that Obama won the Nobel Peace Prize illustrates that America is now better liked, at least among Eurosnobs and certain regional dictators. Results are apparently unimportant.

Victor Davis Hanson has this excellent piece, which appeared yesterday, analyzing the shift in international dynamics. Unfortunately, the lede is pretty well buried in the piece. Hanson's conclusion is that America is better liked with Obama than it was with Bush, but that we're also less respected. That is, our enemies are emboldend and our friends are nervous. Worth the read.

Posted by Boulder Refugee at 3:12 PM | Comments (0)

October 7, 2009

Correlation Isn't Causation

Admits Jimmy P. Then again: Stimulus vs. Unemployment


100709stimulus.jpg

Posted by John Kranz at 6:52 PM | Comments (2)
But Perry Eidelbus thinks:

Well, it's not necessarily causation, but in this case, I'd say there's a strong case for causation. As Austrian economics explains, government interference hinders rational decision-making. In a free market, employers can give it their best guess, but when you insert politics, they don't know what to expect.

The government is also crowding out -- crowding out people's abilities by redistributing their wealth toward favored projects. Politicians in both parties tout how this and that create "good jobs," which may well be true, but the jobs are at the expense of the rest of us. By definition, we didn't want these jobs to exist when left to our free choices; our wants and desires didn't warrant their existence.

Posted by: Perry Eidelbus at October 8, 2009 10:17 AM
But jk thinks:

Well said, Perry. Add to that the indecision caused by increased political meddling in markets and business and it is hard to see even our miraculous economic engine of freedom keeping up.

Posted by: jk at October 8, 2009 11:41 AM

October 1, 2009

No Grownups

James Pethokoukis links to Ed Yardeni:

There is no one in the Obama administration like Robert Rubin, who had the ear of President Clinton. Rubin convinced Clinton that the Bond Vigilantes would riot if he pursued policies that would lead to a structural federal deficit, i.e., one that would widen despite a growing economy. So far, the Bond Vigilantes haven’t gone on a rampage despite projections of $10tn in deficits over the next 10 years. So it is no wonder that Obama’s political advisors are acting as though they’ve been handed a blank check by the bond market. However, the longer they ignore the economic advisors, the greater is the likelihood that the blank check will bounce.

Is Mister Goolsbee under the bus? I think he's a grownup, but I haven't seen him in a while.

"Bond Vigilantes," as spontaneous order phenomena, will not provide a lot of warning. Does anybody think the Obama administration has a plan B?

UPDATE: Goolsbee under the bus? Nope, he's on the road doing standup.

Posted by John Kranz at 12:49 PM | Comments (3)
But johngalt thinks:

Their plan B is we all learn to speak Chinese.

Posted by: johngalt at October 1, 2009 1:36 PM
But Perry Eidelbus thinks:

China, even if its government wanted to lend us as much as it needed, still doesn't have enough money to lend us. China, Japan, South Korea, the UK, the entire rest of the world, couldn't come up with the money that our federal government is planning to borrow.

In the middle of a global recession, how can our federal government borrow nearly $2 trillion in just one fiscal year? (When the bailout talk started a year ago, it was simple for me to add up the numbers and predict that $2 trillion number. How's my track record?) Easy: just have the Federal Reserve print it. The news explains that the Fed is "injecting liquidity," but that's just a cover story.

On a more sinister note, the Fed is buying ever-increasing amounts of short-term Treasury securities. So it's not only monetizing the debt, but setting us up for a ballooning interest rate in a couple of years when we need to turn over that debt.

Welcome to Zimbabwe.

P.S. Rubin is a fool. He was the main one who popularized this liberal concept of fiscal discipline: zero deficits with all the tax hikes necessary to achieve it. And what did he do for a decade? Board of directors at Citigroup, where he made $115 million helping push it toward higher risk strategies. So pardon me if I take anything he says and throw it right into the rubbish bin where it belongs.

Posted by: Perry Eidelbus at October 1, 2009 3:00 PM
But Perry Eidelbus thinks:

"it needed"

That should be "we needed."

Posted by: Perry Eidelbus at October 1, 2009 3:02 PM

September 30, 2009

Making Bush "Look Like a Piker"

Veronique de Rugy: The Bush-era deficits were bad. I know. I spent eight years complaining about them. How does President Obama stack up?

Spoiler alert! Not too good.

Posted by John Kranz at 4:12 PM | Comments (0)

September 28, 2009

Bad Tweet

Well Bad news, good news, but

@JimPethokoukis: Just talked to VERY smart insider: 1) VAT trial balloon for real; 2) HC is in very bad shape

I'm not weeping for #2, but the current Dem majority could push through a VAT and europe-ize our economy quickly.

JimmyP on The Trial Balloon

Posted by John Kranz at 3:27 PM | Comments (2)
But Boulder Refugee thinks:

In the VAT silver lining department:

1. VAT would be the biggest electoral mistake sinc "Read my lips."
2. Consumption taxes make everyone pay the same rate and (hopefully) would make the class warfare crowd sensitive to tax-and-spend proposals.

The Refugees new blog handle: "Pollyanna"

Posted by: Boulder Refugee at September 28, 2009 5:05 PM
But jk thinks:

@anna: I love consumption taxes, but he VAT is not. The amorphous "value add" is dictated by government and cleverly shielded from the customers who pay it. Where enacted, they are loved by governments because they are easily raised without direct vision of the consequences.

Plus, this is the Fair Taxers nightmare in that the income tax will stick around -- this is on top of current revenue models. E. Vil.

Posted by: jk at September 28, 2009 5:24 PM

September 24, 2009

Obama the Nationalist

I was struck by something the president said in his address to the U.N. yesterday. He is so transparent it's difficult not to notice the hidden meaning in what he says. The specific passage I refer to is one where, by way of explaining how "...in the year 2009 ... the interests of nations and peoples are shared" he supposedly acts in the interest of his nation and his people.

"Now, like all of you, my responsibility is to act in the interest of my nation and my people, and I will never apologize for defending those interests."

Like me, FNC's Sean Hannity was also troubled by this.

"He'll never apologize? This from the president who has made an apology an art form? Prancing from one world capital to another pointing out America's flaws?"

But I have a different take. One need not apologize for actions not taken. His mere responsibility to act in the interest of his nation and his people is no evidence that he will do so in the future. He certainly hasn't done so to date, at least not directly. All of his policy goals and accomplishments have been proven by history to be the wrong approach to the problems they purport to solve. And now, the nuclear disarmament of the world? He calls it "hope." I call it "making a wish."

When nuclear arms are outlawed only outlaws will have nuclear arms.

Posted by JohnGalt at 5:46 PM | Comments (0)

September 22, 2009

The Lights Are On

The lights are on but nobody's home.

A good friend of ThreeSources sends a link to a post by Scott Lincicome. The piece first enumerates the policy decisions in which the President has chosen domestic constituencies over free trade. Then Lincicome looks at vacancies -- and finds that staffing his trade team seems to have not been a priority (benefit of doubt mine),

The article goes on to list the key vacancies in the Departments of State, Treasury, and Commerce, as well as USTR. (Hint: there are a lot of them.) Indeed, it's quite the depressing state of affairs for those of us who, you know, care about "little things" like jumpstarting the reeling US and global economies and solidifying important strategic alliances in Latin America and Asia, and understand the importance of a strong Presidential commitment to advancing an American free trade agenda. Alas.

On the bright side (I guess), the Obama administration's burial of trade policy totally frees me up from blogging on real and significant breakthroughs in the still-stalled Doha Round negotiations or the jittery G-20 summit in Pittsburgh later this month. The United States has led on every significant free trade initiative in the last 60-plus years, and such leadership is virtually impossible without a full technical staff to implement the White House's high-level commitments. Thus, without such a staff in place, it looks like I'm going to need to find something else to do this fall.

Thank goodness for the NFL.


I'm not too small and petty a man for some I told you sos. Many bright people were willing to overlook protectionist rhetoric during the campaign. "Oh, he's just playing to the base. St. Austan of Chicago would never let him be another Hoover." (Ms. McArdle, call your office!)

Yet here we are: fighting a recession with protectionism and tax increases.

Posted by John Kranz at 10:09 AM | Comments (2)
But johngalt thinks:

Would you stop calling them tax increases? You call everything Obama does a tax increase. You should be ashamed of yourself for referring to tax increases as tax increases. Show some decorum, after all.

Posted by: johngalt at September 22, 2009 4:24 PM
But Perry Eidelbus thinks:

Oh what lying hypocrisy Obama continues to demonstrate, if you read this and the next post as one big one.

Posted by: Perry Eidelbus at September 22, 2009 9:32 PM

September 21, 2009

Protecting You from Misleading Speech

Andrew Jackson used friendly, patronage postmasters to withhold the delivery of pamphlets opposing his administration. Well, bring back the Alien and Sedition Acts! We've got a public to protect!

David Henderson referencing an AP story:

The government is investigating a major insurance company for allegedly trying to scare seniors with a mailer warning they could lose important benefits under health care legislation in Congress.

And the most chilling two paragraphs:
In a warning letter to Humana, HHS said the government is concerned that the mailer "is misleading and confusing" partly because the company's lobbying campaign could be mistaken for an official communication about Medicare benefits.

HHS ordered the company to immediately halt any such mailings, and remove any related materials from its Web site. In the letter, the government also said it may take other action against Humana, which is based in Louisville, Ky.


People sometimes think I am unhinged and consider my opprobrium disconcerting (Moi?), but I am sorry. If you're not scared of this, you're not paying attention.

UPDATE: If my rhetoric is a little overwrought, at least I am in good company. The lead editorial in today's WSJ is just as concerned. Got to read the whole thing:

Humana merely made the mistake of trying to tell seniors the truth about what will happen to their coverage, and now CEO Michael McCallister had better hire a good team of lawyers. Mr. Baucus and the Obama Administration are out to make him an object lesson to the rest of the business class, and that means they won't stop until Humana cries uncle or is ruined.

Posted by John Kranz at 8:08 PM | Comments (1)
But johngalt thinks:

Damned right. Before you know it the government will be telling them when and which competitors to acquire and how much they can pay their executives. Oh, wait.

Posted by: johngalt at September 22, 2009 12:09 AM

September 19, 2009

Somebody Call a Waaaahmbulence!

Tough words from a guy I think is pretty fair, FOXNews' Chris Wallace:

Hat-tip: The Enlightened Redneck (Gotta love that name) via Instapundit

Posted by John Kranz at 6:12 PM | Comments (0)

September 18, 2009

Brad DeLong on the Tire Tariff

I'm not a huge fan of Brad DeLong, but he does a great job trashing the Chinese tire tariff:

Let's see... 250 million cars in America... need 4 tires per car... need new tires every 2.5 years. 400 million tires a year... $1.4 billion dollars a year... 10,000 worker jobs saved... $140,000 dollars per worker-job per year.

Looks like we could (a) let the Chinese sell us tires, (b) tax each tire by $2.50, (c) pay each tire worker who loses his or her job $100K a year, and we come out ahead: American households have more money to spend on other things, China has more jobs to help what is still a very poor country grow, and tire workers have higher incomes and more leisure as well.


DeLong starts out the post: "Why oh why can't we have better Democratic presidents?"

Because DeLong and his ilk do not hold Democratic candidates to high standards. Senator Obama was obviously protectionist in the campaign. If you're surprised, you were not paying attention.

Hat-tip: Everyday Economist, who frequently forces me to read DeLong (a good thing).

Posted by John Kranz at 2:44 PM | Comments (1)
But Keith thinks:

Good thing our elected overlords have wisely learned the lessons of history, and know to avoid repeating its mistakes.

http://en.wikipedia.org/wiki/Smoot-Hawley_Tariff_Act

Posted by: Keith at September 18, 2009 3:03 PM

September 15, 2009

The H Stands for Hoover!

It was a racist lie by anti-Muslim right wingers to suggest that President Obama's middle name was "Hussein." Clearly it is "Hoover," Professor Mankiw juxtaposes the headlines (click through to follow the links):

Obama to impose tariffs on Chinese tires: Obama imposes tariffs on China tires for 3 years, a decision that could anger Asian powerhouse

China Strikes Back on Trade: Beijing Threatens U.S. Chicken, Car Parts After Washington Slaps Stiff Tariffs on Tires

Stocks head lower on US-China trade concerns: Major indexes fall in early dealings amid concerns about US-China trade dispute

Tire Tariffs Are Cheered by Labor: Mr. Obama ordered the tire tariffs after the United States International Trade Commission, an independent government agency, determined that a more than tripling of Chinese tire imports had disrupted the $1.7 billion tire market....President George W. Bush had rejected four similar recommendations from the trade commission, angering organized labor


Great.

Posted by John Kranz at 12:46 PM | Comments (0)

September 13, 2009

Brother's Keeper

In April I made a case for Sarah Palin to embrace her Christian morality but to denounce imposing it on everyone through the power of the state. Contemporaneously I commented on another blog, though I can't find it at present, to advise a fellow commenter that among the Christian principles she espoused, altruism is used by the statists to justify their athiestic brand of collectivism.

On the occasion of the eighth anniversary of the 9/11 terror attacks, President Barack Obama took another step toward proving me right.

We honor all those who gave their lives so that others might live, and all the survivors who battled burns and wounds and helped each other rebuild their lives; men and women who gave life to that most simple of rules: I am my brother's keeper; I am my sister's keeper.

That "most simple of rules" will come in mighty handy during debates over publicly funded health care, won't it?

No, mister president, I don't agree. To every man I meet - in my town, in my country, in the world - I can tell him I am his brother, but not his keeper. Nor is he mine.

Posted by JohnGalt at 11:09 AM | Comments (1)
But Perry Eidelbus thinks:

And most people don't realize that Obama wants to make you your brother's keeper, without shouldering any of the responsibility himself.

He could inspire people, set an example, etc., but then again we don't need to elect a "president" for that.

"It is, indeed, important to notice that my argument so far supposes no evil intentions on the part of the Humanitarian and considers only what is involved in the logic of his position. My contention is that good men (not bad men) consistently acting upon that position would act as cruelly and unjustly as the greatest tyrants. They might in some respects act even worse. Of all tyrannies a tyranny sincerely exercised for the good of its victims may be the most oppressive. It may be better to live under robber barons than under omnipotent moral busybodies. The robber baron's cruelty may sometimes sleep, his cupidity may at some point be satiated; but those who torment us for our own good will torment us without end for they do so with the approval of their own conscience. They may be more likely to go to Heaven yet at the same time likelier to make a Hell of earth. Their very kindness stings with intolerable insult. To be 'cured' against one's will and cured of states which we may not regard as disease is to be put on a level with those who have not yet reached the age of reason or those who never will; to be classed with infants, imbeciles, and domestic animals. But to be punished, however severely, because we have deserved it, because we 'ought to have known better', is to be treated as a human person made in God's image." - C.S. Lewis

Posted by: Perry Eidelbus at September 13, 2009 8:20 PM

September 9, 2009

"Don't break things up in the name of progress..."

President Obama is scheduled to lecture congress this evening. First, let's watch Sgt. Joe Friday and Bill Gannon lecture him.

"Show me how to get rid of the unlimited capacity for human beings to make themselves believe that they're somehow right and justified in stealing from somebody."

Circa 1950?

Oh, and Happy 09/09/09. (It doesn't deserve its own post, but just so's everyone knows we noticed...)

Posted by JohnGalt at 12:19 PM | Comments (0)

September 6, 2009

Dead Horse?

toon090409.gif

Posted by JohnGalt at 9:16 AM | Comments (3)
But jk thinks:

I just fear this particular dead horse will rise up and bite us in the ass.

They'll pitch the public option and some of the more expensive items, this will give the blue dogs and moderate republicans cover to support a bill full of mandates and expanded government coverage.

They'll abandon their dream of getting there in one bill, but the "compromise" will put more people on public health care, make it harder for private insurers and take the crazy whacked hybrid system even further from the free market.

Victory laps all around -- and the next time the collectivists are in power it will be easier to kill off the last little bit of free market medicine.

Hsppy Labor Day from Mister Optimist!

Posted by: jk at September 6, 2009 11:32 AM
But Perry Eidelbus thinks:

Pelosi said a few days ago that she could support a bill without a public option, as long as it's "mandated" in "the future."

A few weeks ago, I left this comment on someone's blog, when it first appeared that Obama was backing off:

Don't open the champagne just yet. Here's what will happen:

1. The public option will be dropped to make the bill more palatable, to gain "bipartisan support."

2. The new bill will regulate insurers so much that they'll be driven out of business by these "consumer-owned nonprofit cooperatives." Here is the Trojan horse. If these "cooperatives," which will be seeded by tax dollars, are not a "public option," then what are they?

3. VoilĂ , Obama & Co. will say, "Now we definitely need a public option to replace the lack of coverage that private insurers can no longer provide." The "cooperatives" will be expanded and given carte blanche with tax dollars.

It's not hard to foresee this. We know the tricks well enough.Nothing, and I mean nothing that Obama and his thugs do should surprise us. We've seen it all before, not from Obama, but in every bad thing ever done by any president. And he's only been in office for just over seven months!

Posted by: Perry Eidelbus at September 6, 2009 9:00 PM
But Perry Eidelbus thinks:

Ah blah, I forgot to put blockquote tags around 2, 3 and 4, and up to "We know the tricks well enough." You all can still understand what I'm saying, though.

Posted by: Perry Eidelbus at September 6, 2009 9:03 PM

September 4, 2009

A Brief History of the Obama Administration - Day 217

With Senator Kennedy's passing last week we managed to miss this. A Fouad Ajami WSJ article is a thorough review, through x-ray glasses, of President Obama's dash to steal America's soul - that came up short. I'll give you an appetizer but it is juicy like this from start to finish.

In contrast, there is joylessness in Mr. Obama. He is a scold, the "Yes we can!" mantra is shallow, and at any rate, it is about the coming to power of a man, and a political class, invested in its own sense of smarts and wisdom, and its right to alter the social contract of the land. In this view, the country had lost its way and the new leader and the political class arrayed around him will bring it back to the right path.

Thus the moment of crisis would become an opportunity to push through a political economy of redistribution and a foreign policy of American penance. The independent voters were the first to break ranks. They hadn't underwritten this fundamental change in the American polity when they cast their votes for Mr. Obama.

Only 1233 days left for you to endure, mister president.

Posted by JohnGalt at 10:08 PM | Comments (0)

August 23, 2009

Soldiers defending the Constitution

After defending against foreign enemies those domestic threats are just so much tissue paper. Hoo RAH.

This one may have been posted here before, but just in case...

Jeez, what is it with these soldiers and their "talking points" about the Constitution?

Posted by JohnGalt at 6:56 PM | Comments (0)

August 21, 2009

'American Lie'

As in, "I lied, lied at every townhall in sight."

If you haven't heard this yet then you're missin' out.

Posted by JohnGalt at 4:49 PM | Comments (0)

Soak the Rich. Then Bash them too.

Speaking of segue machines, here is the follow-up to The Obama Administration: An Unqualified Success:

bash%20the%20rich.bmp

Posted by JohnGalt at 3:54 PM | Comments (0)

The Obama Administration: an unqualified success!

Chalk up a big win for the good guys! The NYTimes reports that the rich are getting poorer

But economists say — and data is beginning to show — that a significant change may in fact be under way. The rich, as a group, are no longer getting richer. Over the last two years, they have become poorer. And many may not return to their old levels of wealth and income anytime soon.

For every investment banker whose pay has recovered to its prerecession levels, there are several who have lost their jobs — as well as many wealthy investors who have lost millions. As a result, economists and other analysts say, a 30-year period in which the super-rich became both wealthier and more numerous may now be ending.


The dark days of the Bush Administration are finally past us.

Hat-tip: Don Luskin who worries that we are running out of rich people to rob.

Posted by John Kranz at 1:02 PM | Comments (0)

August 10, 2009

Who's in YOUR wallet?

I love this co-opting of 'Capital One' simply by changing the spelling...

Posted by JohnGalt at 6:32 PM | Comments (0)

August 4, 2009

Quote of the Day

Few of President Obama's 2008 campaign pledges were more definitive than his vow that anyone making less than $250,000 a year "will not see their taxes increase by a single dime" if he was elected. And he was right, very strictly speaking: It’s going to be many, many, many billions of dimes. -- WSJ Ed Page
Posted by John Kranz at 10:44 AM | Comments (0)

August 3, 2009

Stunning Exegesis on Cash for Clunkers

Scrivener asks the question: "The Cash for Clunkers "success" story: Crow about it? Or weep and cry woe over it?" Then he answers it, sublimely.

Just when you think you could not get more surprised, the victory lap being taken over this completely insane program should wake you up.

Scrivener provides a detailed, comprehensive, and very readable list of problems with legislation -- even scoring the extra points for quoting Bastiat's "Broken Windows Fallacy" (I guess Frederic was a Mac...) All in all a great link to send to those who praise the "stimulative effects" of this program.

Posted by John Kranz at 12:48 PM | Comments (0)

Last Word on Gates-gate

I'll give the last word to Shelby Steele, who pens a stunning guest editorial in the WSJ. What a waste to run this awesome piece on Saturday. Steele writes a haunting comparison of the power of southern white women in the era of Emmitt Till to Professor Gates today.

Hat-tip to Don Luskin, who, like me, appreciated the coda:

Where race is concerned, I sometimes think of the president as the Peter Sellers character in “Dr. Strangelove.” Sellers plays a closet Nazi whose left arm—quite involuntarily—keeps springing up into the Heil Hitler salute. We see him in his wheelchair, his right arm—the good and decent arm—struggling to keep the Nazi arm down so that no one will know the truth of his inner life. These wrestling matches between the good and bad arms were hysterically funny.

When I saw Mr. Obama—with every escape route available to him—wade right into the Gates affair at the end of his health-care news conference, I knew that his demon arm had momentarily won out over his good arm. It broke completely free—into full salute—in the “acted stupidly” comment that he made in reference to the Cambridge police’s handling of the matter. Here was the implication that whites were such clumsy and incorrigible racists that even the most highly achieved blacks lived in constant peril of racial humiliation. This was a cultural narrative, a politics, and in the end it was a bigotry. It let white Americans see a president who doubted them.


Posted by John Kranz at 10:54 AM | Comments (0)

July 22, 2009

Demagoguery

Our President? Surely not:

Hat-tip: Larry Kudlow

Posted by John Kranz at 6:32 PM | Comments (0)

July 21, 2009

Hold the Mayo

Credit ABC's Jake Tapper for the headline. (And what's with that guy anyway, doesn't he know he's not supposed to challenge The One?)

I do this with hesitation but I believe I can be tangential enough for comfort: Not long after the "Stimulus" bill was signed into law I seem to recall a certain Mayo Clinic honcho close to this blog who was contemplating radical action due to runaway government spending. It looks like she might have rallied a small raiding party amongst her peers at Mayo and pointed her cutlass at Obamacare. Of the legislation being raced through congress a Mayo Clinic blog says,

"... the proposed legislation misses the opportunity to help create higher-quality, more affordable health care for patients. In fact, it will do the opposite."

You go girl!

Posted by JohnGalt at 3:23 PM | Comments (1)
But jk thinks:

Stunning that the AMA sold out its members so quickly. I was glad to hear the Mayo clinic was among the few taking a stand.

Posted by: jk at July 21, 2009 3:53 PM

July 15, 2009

Top Tax Rate to Exceed 50%

Professor Mankiw links to a WSJ study and adds:

I believe the relevant marginal tax rate is even higher than the Tax Foundation suggests. Their calculations seem to ignore sales taxes, which are significant in many states. Because income earned will eventually be spent and thus subject to sales taxes, sales tax rates need to be combined with income tax rates to find the true tax wedge that distorts the consumption-leisure decision. Once sales taxes are included, a top earner in a typical state would face a marginal tax rate of about 55 percent.

Those African kleptocrats who take only twenty percent are looking better every day...

UPDATE: Jimmy P piles on

Posted by John Kranz at 4:29 PM | Comments (1)
But johngalt thinks:

A top marginal rate exceeding 50% isn't as revolutionary as we Reagan-era kids naturally believe. In fact, from 1932 to 1981 it was far above that rate. (After that "foolish" period of 25% marginal rates in the late twenties that undoubtedly "caused" the great depression.)

Posted by: johngalt at July 15, 2009 7:55 PM

July 1, 2009

Birds of a Feather

Even if you've already seen this one you'll appreciate it again:

toon063009.gif

Indeed. If you aren't already familiar, here is the real story on the "military coup" in Honduras.

Posted by JohnGalt at 11:59 AM | Comments (3)
But jk thinks:

The WSJ Ed Page did a nice piece as well.

Posted by: jk at July 1, 2009 12:51 PM
But Perry Eidelbus thinks:

Excellent. It's refreshing to see major sources pointing out that this was not a real coup, but the removal of a proto-dictator. What does it tell you when Chavez and the UN insist that someone be returned to power?

Billy Hollis at QandO has been publishing stuff from his friend in Honduras. Must-read.

So now you know, when U.S. and AFP news talk about "protestors" battling with police, whose side the protestors are actually on. And think about what will happen if Zelaya returns. He'll virtually flood the streets with the blood of his opponents, making Robespierre look like Mother Theresa.

Posted by: Perry Eidelbus at July 1, 2009 1:40 PM
But jk thinks:

'nother good cartoon

Posted by: jk at July 1, 2009 2:07 PM

June 28, 2009

Your Review

Too funny!


Obama To Hold Job Performance Review With Every American Worker

Posted by John Kranz at 10:58 PM | Comments (0)

The Didn't Take Long

Obama administration politicizing science?

Say it ain't so.

Posted by AlexC at 11:43 AM | Comments (3)
But jk thinks:

With this and the firing of the Inspectors General, it is almost worth abandoning liberty to see our friends on the left contort themselves. Almost.

Posted by: jk at June 28, 2009 11:59 AM
But AlexC thinks:

As I have observed from my liberal co-workers....

Never underestimate the power of willful ignorance.

Posted by: AlexC at June 28, 2009 4:37 PM
But Perry Eidelbus thinks:

You want to talk about co-workers... Remember that woman who said "He's going to help me pay for gas and my mortgage"? I work near two just like that. The one good thing that came out of Obama's primary victories is that these two actually learned the names of some states they probably hadn't heard of before.

As long as whitey gets stuck with the cost, they don't care.

Posted by: Perry Eidelbus at June 28, 2009 7:02 PM

June 26, 2009

"Balanced" and "sensible" climate change bill passes House

That's the spin thrown on the bill by President Obama yesterday. Surely it was far from either of those qualities at the time, but prior to passage another 300 pages were shoe-horned in ... at 3 am this morning! [What in the hell is the fixation that Washington politicians have with that time of day?] Minority Leader Boehner said the obvious:



And here are a few floor quotes:

Rep. Geoff Davis, a Republican from Kentucky, said the cap-and-trade bill represented the "economic colonization of the heartland" by New York and California.

Rep. Devin Nunes (R-Calif.) called the bill a “scam” that would do nothing but satisfy “the twisted desires of radical environmentalists.”
Rep. James Sensenbrenner (R-Wisc.) called it a “massive transfer of wealth” from the United States to foreign countries.

Democratic Rep. Tim Ryan of Ohio countered that, without the bill, the United States would remain energy-dependent on people who want to “fly planes into our buildings.”

I'd hoped to insert a bulleted list of ways that this bill is a colonoscopy for America but then I realized, Who the hell knows what it does... it jumped from 1200 pages to 1500 overnight!

But it's far from law yet. Next stop: the Senate.

(Note that as the lions share of H.R. 2454 was written by the environmental lobby this post qualifies for the coveted "dirty hippies" category.)

And kudos to JK for naming the 8 RINOs who voted for this treasonous piece of crap. Just four of them switching sides would have spiked it.

Posted by JohnGalt at 7:55 PM | Comments (6)
But AlexC thinks:

That jagoff Kirk wants to run for Obama's former Senate seat.

Good luck with that.

Posted by: AlexC at June 26, 2009 11:33 PM
But johngalt thinks:

Of the 44 Democrats voting no, one is from Colorado and four are from PA. I'll tell you what - my respect for John Salazar (CO-3) just grew three sizes larger.

Posted by: johngalt at June 27, 2009 10:06 AM
But jk thinks:

Well done, Mister Leader!

I tend to give up before trying on my representation, but Colorado's two freshman Democrat Senators could well feel a little heat on this issue.

To take up an Instapundit riff, having the next Tea Party outside of Senator Udall's or Bennett's office might be a better blow for freedom than a photo-op outside the Capitol.

Posted by: jk at June 27, 2009 11:50 AM
But johngalt thinks:

If Mark Udall might face heat on this issue in 2010 he doesn't seem to feel it at the moment. One of the stories I read yesterday said a few senators were working the halls of congress twisting arms for a yes vote. Mark Udall (D-CO) was the one mentioned by name.

I'm in for a TEA (Taking Energy Away) party at one of Markey's offices. Instead of pitchforks we'll carry empty gas cans. (Shall we try to organize something for next week?)

Posted by: johngalt at June 27, 2009 3:27 PM
But jk thinks:

I'm thinking we'd have better luck with Bennett, but that it would be a good exercise to scare Senator Udall. He is used to catering to CO-2 collectivists and a reminder that Boulder is not the whole state, dude, might be a good lesson.

They're pushing on Twitter for GOP defectors (great Twitter tag #capandtr8tors) to change their vote as you suggest with Markey. Is that realistic? I cannot imagine that the same effort would not be better directed at the Senate, but I am open to discussion.

Posted by: jk at June 27, 2009 6:29 PM
But HB thinks:

Best quote:

“I look forward to spending the next 100 years trying to fix this legislation,” said California Republican Brian Bilbray.

Posted by: HB at June 27, 2009 10:15 PM

Hello, Justice Brandeis?

The WSJ Ed Page has a home run lead editorial today. They point out that the key agenda items of the Obama Administration and the Democratic-led 111th Congress have been tried in the progressive states of New York, California and New Jersey.

They go item by item and show how these have failed in the States that have tried them.

So goes the real-life experience of progressive governance, with heavy tax burdens financing huge welfare states, and state capitals dominated by public-employee unions. Formerly rich states, they are now known for job losses, booming deficits and debt, wage stagnation, out-migration and laughing-stock legislatures. At least Americans have the ability to flee these ill-governed states for places that still welcome wealth creators. The debate in Washington now is whether to spread this antigrowth model across the entire country.

Justice Brandeis famously touted Federalism as providing "laboratories of democracy" in each of the states. I don't think he suspected that we would elevate the failed experiments.

UPDATE: Instapundit links to the same editorial and suggests they should emulate Texas but not Illinois. He missed teh Brandeis reference, maybe I should send him a link. He so enjoys it when I send him a link.

Posted by John Kranz at 7:21 PM | Comments (0)

June 20, 2009

None Dare Call it Fascism

I don't know what I dare to call it, but my jaw dropped at the AP headline: Obama puts critics of financial overhaul on notice Wow. We bringing back the Alien and Sedition Acts?

To be fair, the story did not quite support the bellicosity of the headline writer. But the President did say "While I'm not spoiling for a fight, I'm ready for one." Well, Mister President, it appears we have a lot to fight about:

The Consumer Financial Protection Agency would take over oversight of mortgages, requiring that lenders give customers the option of "plain vanilla" plans with clear and affordable terms.

"It will have the power to set tough new rules so that companies compete by offering innovative products that consumers actually want and actually understand," Obama said. "Those ridiculous contracts — pages of fine print that no one can figure out — will be a thing of the past. You'll be able to compare products, with descriptions in plain language, to see what is best for you."


The government knows which loans are good for you: vanilla loans that you can understand. I'm in a pretty "vanilla" loan at this time, but over the years I made great use of an Interest Only mortgage while I was patching things together from a failed startup. And although I have avoided them, some people have reasons to go with adjustable rates. But no, we can't have AM and FM, some people will be confused.

You already spend a half hour at a closing signing 30 things that some legislator insisted that something be explained to you. President Madison, can you "lay your finger" on the part of the Constitution that allows the President to define what loan vehicles will and will not be offered?

Posted by John Kranz at 11:31 AM | Comments (2)
But Perry Eidelbus thinks:

My oldest friend and his wife took out an ARM in 2001. After interest rates plummeted, it was no longer worth it to save for a down payment.

They put 40% down, and every month threw in as much as they could (far beyond the minimum). When their payments were recalculated annually, even when interest rates had gone up, their minimum payments had gone down. Now the house has been paid off. That's right, it's already theirs.

They're such predatory borrowers! Don't you feel sorry for the bank that didn't make as much money as they expected?

Posted by: Perry Eidelbus at June 21, 2009 8:37 AM
But jk thinks:

Obviously, Perry, your friends don't understand these complex fiduciary instruments and need to have the government dictate what is available.

Reading it again, I got even madder:

"[Government] will have the power to set tough new rules so that companies compete by offering innovative products that consumers actually want and actually understand," Obama said.

When you want innovation and customer satisfaction, you can't beat the Federal Government! Why look at, um...

Posted by: jk at June 21, 2009 12:40 PM

June 17, 2009

High Fives from Hugo

President Obama appears to be giving short shrift to Iran's newly resurgent pro-freedom and anti-theocracy uprising. Many of this blog's luminaries are debating the wisdom, or lack thereof, of that strategy. One question that is missing, however, is whether Obama actually prefers that Ahmadinejad stay in office. I don't have the answer but I'll offer two observations for readers to ponder.

13 June 2009 - Chavez congratulates Ahmadinejad

In a telephone conversation with the Iranian president, Chavez said, "The victory of Dr. Ahmadinejad in the recent election is a win for all people in the world and free nations against global arrogance," Iran's Presidential Office reported.

5 November 2008 - Chavez congratulates Obama, suggests rebuilding relations

Caracas - Venezuelan President Hugo Chavez congratulated US president-elect Barack Obama Wednesday on his "historic" win and said the time had come for the two countries to establish new relations.

UPDATE: Reformatted 6/18 in an attempt to sharpen the point. (The openly socialist Chavez cheered the "against global arrogance" victory of Ahmadinejad and the "time to establish new relations" victory of Obama.) They are all, at least in Chavez' eyes, birds of a feather.

Posted by JohnGalt at 12:52 PM | Comments (0)

June 15, 2009

A Pay Czar

Gary Becker is ag'in' it:

The same fatal conceit behind the setting up of a pay Czar is also responsible for the belief that members of Congress and Washington officials are capable of steering GM and Chrysler toward profitable directions. This is behind the government pressure on these companies to shift toward small fuel-efficient cars, even though GM and Chrysler have been best at producing trucks and larger cars. Perhaps they will be able to make this shift, but it is far more likely that Honda, Kia, Toyota, and other foreign auto manufacturers that have been making small cars for decades will eat their lunch.

Hat-tip: Everyday Economist

Posted by John Kranz at 5:58 PM | Comments (2)
But Boulder Refugee thinks:

No way. The gubmint will stack the deck with rebates and other taxpayer-subsidized incentives to make Honda, Kia and Toyota uncompetitive. Then they'll claim "success" in turning GM around. Never doubt the cunning cynacism of a politician.

Posted by: Boulder Refugee at June 15, 2009 7:22 PM
But Keith thinks:

Only one person in the world could make the economy work this way, where the product is sold at less than the cost of goods, all the customers subsidize the company, and everyone profits.

Paging Milo Minderbinder...

Posted by: Keith at June 16, 2009 4:40 PM

June 10, 2009

The Best of Hands

Glad we got rid of that Rick Waggoner guy, the new Government Motors chief, Brain Deese, really has an impressive resume:

A fresh-faced 31-year-old, Deese dropped out of Yale Law School last year to work for Hillary Clinton's presidential campaign. When Clinton sank, Deese skipped over to the winning ship, impressed everybody who counts, and landed a desk in the White House. The big guns like Larry Summers and Christina Romer are busy cooking up hilariously sunny budget projections while trying to look like they're keeping the economy from collapsing. So Deese, armed with an undergrad degree in political science, finds the GM portfolio and the fate of millions in his hands.

Some are grumbling about Deese's lack of relevant experience. (He has driven a car and once slept in the parking lot of a GM plant!) But the real issue isn't Deese's résumé. The real issue is why anyone should have the power to "rewrite the rules of American capitalism." Unlike Deese, treasury secretaries Paulson and Geithner are men of experience. But what kind of experience could justify the immense, arbitrary power they've exercised in the wake of the financial meltdown? Experience centrally planning the global economy?


ThreeSourcers will enjoy the whole, painful, piece.
We don't worry these days about the rule of hereditary monarchs. But as the modern nation-state has expanded, taking on ever more functions, the powers of the state bureaucracy have come to resemble the powers of an unaccountable aristocracy. Periodic elections merely deliver a somewhat different batch of aristocrats to the throne.

American liberals talk a good game about equality, but their rhetoric, like conservative talk about liberty, is mostly empty. There's a respectable liberal argument that individuals can be truly free and equal only if they command resources sufficient to develop their capacities and enjoy the exercise of their basic rights. But this is an argument for a government-provided social safety net—for making sure everyone starts on a decent footing. It is not an argument for putting a ceiling on income and wealth.


Amen.

Posted by John Kranz at 1:09 PM | Comments (0)

June 9, 2009

All Hail Taranto

I don't link to BOTW a lot because I cannot imagine any ThreeSourcer not reading it in full every day. But today's lead post is completely perfect. Read it again.

When I heard that Justice Ginsburg was throwing an S.A.E. monkey wrench into the Fiat-Chrysler deal, I thought "You live long enough and everything happens -- I never though I'd side with Justice Ginsburg on anything jurisprudential." Or as Taranto would say " "Speaking Ruth to Power."

Congress established bankruptcy courts to provide for the orderly restructuring and liquidation of financially distressed companies, and the decisions of these tribunals are subject to review by the ordinary judicial courts. The Obama administration's plan for Chrysler--which involved giving a politically favored constituency (the United Auto Workers) priority at the expense of both taxpayers and legally privileged secured creditors--was an effort to circumvent the rule of law.

In addition to the principle at stake, the Supreme Court has an institutional imperative to intervene in this case. The administration is attempting to seize power that rightly belongs to the courts (and to Congress, since lawmakers could rewrite the bankruptcy law if they chose). We have often criticized the Supreme Court for overstepping its power, but it would be just as wrong for the court to shirk its responsibility to exercise its power legitimately.


It's a superb short and well-reasoned description of what I think to b the worst failure of the current Administration. I plan to send a lot of thinking Obama supporters to the piece.

Posted by John Kranz at 8:01 PM | Comments (1)
But johngalt thinks:

Excellent. I tried to post something on this yesterday but my computer was running slower than my patience. And by now we know there is a ruling on the matter: The applications for stay presented to JUSTICE GINSBURG and by her referred to the Court are denied.

The short opinion goes on to say that the court can weigh the relative harms to the parties and that "a denial of stay is not a decision on the merits of the underlying legal issues." This seems to my non-legal mind to leave the door open for the secured creditors to pursue further legal relief (but from whom?) in the future and perhaps be made whole financially, while at the same time establishing case law that the restructuring was unconstitutional. The court appears to have ruled pragmatically at this time.

Posted by: johngalt at June 10, 2009 1:22 PM

The Debt Road Trip

Pretty funny:

Hat-tip: @mkhammer

Posted by John Kranz at 3:28 PM | Comments (0)

June 8, 2009

Quote of the Day

From the NYTimes articles on a White House effort to control executive compensation in the financial industry:
“In the past, banks had free rein to determine the base salary and bonuses they awarded their employees.”
Me: Or put it this way: “”In the past, companies could pay their workers at a level that made business sense.” -- James Pethokoukis
Posted by John Kranz at 4:05 PM | Comments (0)

June 5, 2009

GAME OVER II

According to the Wall Street Journal Editorial Page, it seems Chairman Frank went to bat for a GM Warehouse in Massachusetts. Y'know, a little "constituent support;"

Mr. Frank's spokesman, Harry Gural, says the Congressman discussed, among other things, "the facility's value to GM." We'd have thought that would be something that GM might have considered when it decided to close the Norton center, but then a call from one of the most powerful Members of Congress can certainly cause a ward of the state to reconsider what qualifies as "value." A CEO who refuses the offer can soon find himself testifying under oath before Congress, or answering questions from the Government Accountability Office about his expense account. To that point, Mr. Henderson spent Wednesday with Chrysler President Jim Press being castigated by the Senate Commerce Committee for their plans to close 3,400 car dealerships. Every Senator wants dealerships closed in someone else's state.

I can appreciate a Presidential honeymoon and all, but how many people are left who really believe that this new corporatism is going to work? Closing a parts warehouse will now be like closing a military base.


Posted by John Kranz at 11:34 AM | Comments (0)

GAME OVER!

White House Set to Appoint a Pay Czar

WASHINGTON -- The Obama administration plans to appoint a "Special Master for Compensation" to ensure that companies receiving federal bailout funds are abiding by executive-pay guidelines, according to people familiar with the matter.

Oh please Sir, my wife has been ill and the children need new shoes...my projects have all been completed on time this quarter and the five year plan for my Department is on track...just another hundred dollars a week would be a big help...


Posted by John Kranz at 10:38 AM | Comments (0)

June 2, 2009

"Help Us Judicial Branch - You're Our Only Hope!"

With apologies to Princess Leia for the title it seems that the editorial board of Investor's Business Daily agrees with my contention (first comment) that it's time for the third branch of our federal government to start pulling its weight.

We pored over Article II of the Constitution, known as the Executive Powers Clause. Nowhere is the White House granted the right to override the time-tested bankruptcy process, to use Treasury money raised by taxing Americans to buy or bail out companies, to fire CEOs, to micromanage corporate policy, or to abrogate lawful contracts made by private parties.

Yet, our government has done these things and more — leading to a corrupt GM bankruptcy. The damage to our system of corporate capitalism and the rule of law is severe. Next stop: Federal court?

If you read the whole thing you'll learn, as I did, that the GM Bailout TM is being orchestrated by a 31-year-old Yale Law STUDENT. Oy.

Posted by JohnGalt at 2:28 PM | Comments (3)
But johngalt thinks:

I'll follow JK's rare example and make the first comment on my own blog - While listining to Jason Lewis yesterday a caller asked "under what authority can the government do all these new things the President is doing?" I don't remember Lewis' answer but the one I yelled at the radio was, "Under the authority of democracy, lady. When our government was a representative republic it couldn't get away with this crap!"

Posted by: johngalt at June 2, 2009 3:21 PM
But jk thinks:

I'm a lonely guy -- I have to comment on my own posts for amusement.

The Judicial Branch has been the best protector of our liberty. Chief Justice Taney stood up to Lincoln, the Four Horsemen stood up to FDR. If the court were to go 5-4 on the empathy standard, we'd have zero chance at liberty.

Posted by: jk at June 2, 2009 3:56 PM
But Keith thinks:

As long as you're going to borrow from Star Wars, johngalt, then I'll see you and raise:

"The Imperial Senate will no longer be of any concern to us. I have just received word that the Emperor has dissolved the council permanently. The last remnants of the Old Republic have been swept away... The regional governors now have direct control over their territories. Fear will keep the local systems in line." When you feel like you've got a mandate to make foundational changes to America, you can just ignore or abolish the parts you don't like. Just nationalize the auto industry - forget that pesky part about just compensation. I don't think he feels constrained by any law, any tradition, or any other institution of government. And his current SCOTUS nomination is part of having a judicial branch that will not oppose him.

And my rejoinder to anyone who doesn't think Obama's administration is dangerous and destructive?

"I find your lack of clue disturbing."

Posted by: Keith at June 2, 2009 5:07 PM

Racism Under New Management

This recent Michael Ramirez cartoon reminds me of a thought I had while riding around on the tractor last Friday baling hay.

Sotomayor%20toon052909.gif

When it comes to racial politics it appears there are two distinct points of view amongst people of color: One is that of Dr. Martin Luther King who dreamed of the day that one would be judged by the content of his character and not the color of his skin; the other is akin to "now that there's a 'brother' in the White House it's OUR turn to be the cracker." The question for Ms. Sotomayor is, to which of these views does she subscribe?

Thomas Sowell recently told Glenn Beck that the racism franchise in America isn't being dismantled, it's just being put under new management.

Posted by JohnGalt at 1:54 PM | Comments (0)

May 28, 2009

Reading for the Pigou Club

Dan Henninger hits a philosophical home run for ThreeSourcers today in the WSJ. It's a great column, funny, sad, and true.

Funny is his list of suggestions for the President's iPod playlist. Henninger feels that a little Beach Boys, Ronnie and the Daytonas, and Commander Cody music might clarify American culture to a President who says "everybody wins" when we all drive 39mpg biodiesel subcompacts.

Sad is a poignant look at how the scolds are going to redesign our lives:

We are being offered a different world now. One designed, defined and driven by a new set of un-fun obsessions -- carbon footprints, greenhouse gas and alternative energy. This large transition passes before us, barely seen, as the gray water of public policy. Hardly anyone notices how much is being changed.

To put a stop to the new sin of spending too much time out on Highway 9, we are getting the mark-up hearings this week in Washington for the Waxman-Markey climate bill. It's 900 pages long, dripping with thousands of Mickey-Mouse rules to reorder how we live. A Senate Finance Committee document last week on the Obama health-care plan proposes "lifestyle related revenue raisers." Lifestyles like drinking beer. This is the "taxing bad behavior" movement. They get to define what's bad.


True is that last line. Certain Harvard Economics Professors (I'm not naming names) praise the efficiencies of Pigouvian taxation without fully appreciating the power they cede to government.

Whole Read Thing Me Trust The.

Posted by John Kranz at 12:29 PM | Comments (0)

May 27, 2009

Is This True? Does it Matter?

Some rather spectacular charges have been hurled at the Obama Administration. I saw a little bit on this over the weekend, and now Gateway Pundit has a roundup:

** Earlier it was reported that the Obama Administration may have targeted GOP donors in deciding which Chrysler dealerships would have to close their doors.
** Last night it was discovered that a Big Dem Donor Group was allowed to keep all 6 Chrysler dealerships open.... And, their local competitors were eliminated by Obama's task force.
** The closings also tend to be in "Red" Counties where Obama lost.

Now this...
Rep. Vern Buchanan (R-Fla) lost his Chrysler dealership in Florida.


I'm the last guy to buy into a big conspiracy theory, and these are about the worst charges that have been leveled at the Executive Branch since our third VP had a little disagreement with our first Secretary of the Treasury, I expect they will not amount to much.

The problem is that they could be true. When you let gub'mint into something, you invite politics in. We have seen that in spades with the Chrysler bondholders -- why not the dealers? Just the fear that this could happen should be enough to dissuade people from seeking this level of Federal involvement.

Hat-tip: Instapundit

Posted by John Kranz at 2:52 PM | Comments (6)
But Perry Eidelbus thinks:

I always treat something with great skepticism when I first hear/read it. It's a healthy and scientific approach. However, we've already seen this administration at work. Look at the leverage exerted against Chrysler's creditors, a perfect example of the finest Chicago thugocracy. Obama & Co. couldn't possibly surprise me anymore.

Yet in the end, don't expect any accusations to stick. "Teflon Don" John Gotti must be burning with jealousy almost as much as from hellfire.

Posted by: Perry Eidelbus at May 27, 2009 3:39 PM
But Keith thinks:

Perry: I didn't think I'd ever quote from Wiklipedia, but:

"In the politics of the United States, a spoil system (also known as a patronage system) is an informal practice where a political party, after winning an election, gives government jobs to its voters as a reward for working toward victory, and as an incentive to keep working for the party—as opposed to a system of awarding offices on the basis of some measure of merit independent of political activity.

"The term was derived from the phrase 'to the victor belong the spoils...' by New York Senator William L. Marcy..." ("Spoils System," Wikipedia)

Gentlemen, we're now seeing the Administration restoring the spoils system ("I won...") as it moves the auto industry from the the private sector into the public sector and divvies up the carcass based upon campaign donations and party affiliation. Apparently both the legislature and the judicial branch are broken, since neither one is doing anything to stop our elected dictator.

By the time the midterm elections come around, we'll be too deep in debt to climb out of this hole, investing in whatever is left would be foolish, and any opponents the Administration has will have been intimidated or compromised - and no one would dare donate to the opposition candidates, for fear of losing their own livelihood, just like the car dealers.

What are our options, brothers?

By the way, as long as Perry brought up John Gotti, let me say we'd have been better off if we'd put the Mafia in charge of running the country:

* At least they'd be running it for a profit.
* Hugo Chavez? Just another rival don. Tonight he sleeps wit' da fishes.
* There would have been no bailout; AIG couldn't afford the vig.
* Bouffant-headed pipsqueak in North Korea would abandon his nuclear weapons efforts as soon as he was told that Secretary of State "Hilly Cankles" Clinton is prepared to "go to the mattresses."
* All hostilities in the Middle East cease when news gets out that Israel is no longer receiving American foreign aid; instead, Israel is paying for protection.

Posted by: Keith at May 27, 2009 4:52 PM
But johngalt thinks:

Under the rules of postmodernism both of the questions you posed can each have different answers depending on who you ask, and even on who does the asking.

Under the rules of our grandfathers the answers would be "let's get to the bottom of the facts" and "you bet your sweet a _ _ it does!"

But in an era where an economics reporter for the New York Times spends beyond his means and ruins his credit rating because "the money was there, and I was in love" the popular answer will likely be "Who can know these things?" and "Pshawww!"

Posted by: johngalt at May 28, 2009 12:32 PM
But Perry Eidelbus thinks:

Keith, funny you should put it that way. I've privately said that at least when you pay protection money to Tony Soprano, you can get something out of it. It's not always the case, of course, but it isn't entirely a romantic, exaggerated notion of organized crime. As I've elaborated a bit before, the Mafia, as odious as they are, had an origin of necessity. They were already and always murderers and bandits, yes, but there were enough people willing to "hire" them -- preferring to pay up to be left alone rather than refusing and fighting, or paying up in the belief that actual protection could come out of it.

Posted by: Perry Eidelbus at May 28, 2009 1:28 PM
But jk thinks:

...and it does appear that contradictory evidence is coming out. So the narrative will be "all the right wing wackos jumped the gun and made false accusations." I humbly submit that my point holds: why provide temptation to politicians?

And props to Keith for tying "Spoils" to Marcy. I'm in the middle of a great biography of President Polk and Marcy is the Sec of War (oh, for the days we called things what they were) and I think he comes back as Buchanan's Sec of State.

Posted by: jk at May 28, 2009 1:28 PM
But Perry Eidelbus thinks:

Maybe, jk, but in my defense, all I said was, "Obama & Co. couldn't possibly surprise me anymore." They rule like Romulans, trading "honor" and loyalties in back rooms.

Posted by: Perry Eidelbus at June 1, 2009 4:38 PM

May 26, 2009

What's Phase 2 Again?

Bret Stephens at the WSJ Ed Page makes a South Park reference count today (on Matt Stone's birthday, no less!), relating the Obama Administration to one of my favorite 30 minutes of television:

Consider the 1998 "Gnomes" episode -- possibly surpassing Milton Friedman's "Free to Choose" as the classic defense of capitalism -- in which the children of South Park, Colo., get a lesson in how not to run an enterprise from mysterious little men who go about stealing undergarments from the unsuspecting and collecting them in a huge underground storehouse.

Stephens points out that Obama seems to be missing "Phase 2" in dealing with North Korea, as well as in domestic pursuits:
In Gnome-speak, then, Mr. Obama's energy policy goes something like this: Phase One: Inaugurate the era of "green" energy. Phase Two: Overturn the first and second laws of thermodynamics. Phase Three: Carbon neutrality!

Take any number of Mr. Obama's other initiatives. Rescue Detroit? Phase One: Set a national mileage standard for passenger cars of 39 miles per gallon and force auto makers to make the kind of cars that drove them to bankruptcy in the first place.

Reduce the deficit? Phase One: Approve $3.5 trillion in government stimulus, and then await the mythical Keynesian multiplier.

Pay for a $1.2 trillion health-care reform? Phase One: scrounge around for about $60 billion in new "sin tax" revenue.


Read the whole thing, preferably with a cup of Tweeks Coffee, gentle as a late spring rain...

Posted by John Kranz at 10:56 AM | Comments (0)

May 20, 2009

DOOOOOMED!

The overwhelmingly negative "Obama at the Auto Buffet" post below inspired me to look up this gem from yesterday. Frank J. Fleming is not afraid to look at the dark side of things:

Let me put it in all caps: DOOOOMED! The economy was already collapsing, and now Obama has loaded it into an old Chevy facing a cliff and placed a brick on the accelerator. And while the country is falling apart on the inside, our enemies are getting stronger externally. Any day now, we’re going to be nuked by Iran, North Korea, a Taliban-controlled Pakistan, or all three at once with the backing of Russia and China. Then again, after Obama buzzed New York with Air Force One, would it be too surprising if he accidentally nuked us himself? His whole administration obviously has no idea what they’re doing, and with sixty votes in the Senate there is no stopping them. None.

It's pretty funny if you can laugh...


Posted by John Kranz at 12:30 PM | Comments (0)

Economic Stimulus

IMing with a workmate, we were kidding about the wisdom of buying a big three car now, before the UAW/US MotorCo turns them all into Yugos. Folks are stocking up on guns and ammo, incandescent lamps, &c. I'm a little-car guy myself, but might now be the time to get that eeevil SUV while you still can?

I will not go into President Obama's fuel efficiency inanity, except to link to two superb WSJ Editorials. First Car Crazy:

Obama's fleet-mileage partners yesterday included the two auto companies that have fallen into his arms, Chrysler and GM, still-independent Ford, the major foreign manufacturers, United Auto Workers chief Ron Gettelfinger, and beaming representatives from the Sierra Club, Environmental Defense Fund and the Union of Concerned Scientists.

All that's left to arrive at the President's new destination for the American way of driving are huge, unanswered questions about technology, financing and the marketability of cars that will be small and expensive.


Then click next door to Holman Jenkins's Obama at the Auto Buffet
The administration at least understands the conflict it has set in motion. Under a reported new Chrysler contract dictated by the White House, the union surrenders its right to strike for the next six years. A redolent fact, though, is that Ron Bloom, the administration's real acting car czar in this case, was a principal in the now-defunct investment banking firm of Keilin & Bloom, which secured the 55% stake for the unions in United Airlines in the mid-1990s.

United's pilots did not strike in pursuit of what eventually became the richest contract in the industry. They did engage in work slowdowns that led to thousands of canceled and delayed flights and ferocious anger among the airline's customers. Pilot leader Rick Dubinsky told management in 2000: "We don't want to kill the golden goose. We just want to choke it by the neck until it gives us every last egg." United filed for bankruptcy two years later.


The buffet theme comes from the sad truth that there are no constraints on this power grab. If the President wants to eat all the metaphoric shrimp at the buffet, there's nothing to stop him.

Dark days. My IM correspondent is not a political guy, but he ended with a reference to "cars made by the USSA." Maybe he should not go for another plate of shrimp after all.

Posted by John Kranz at 11:33 AM | Comments (6)
But johngalt thinks:

But there is a "green shoot" of "hope" for liberty, property rights and law (read: Americanism). A few of Chrysler's secured creditors are starting the chain of appeals to higher courts to intervene in the illegal and unconstitutional actions of Treasury. It may not be long before we know if there are still three branches of government to check each other in this country or only two.

Posted by: johngalt at May 20, 2009 5:26 PM
But jk thinks:

Damned speculators! The White House Press Corps will ruin them -- then they'll be sorry they thought about asserting their property rights...

Posted by: jk at May 20, 2009 5:55 PM
But Perry Eidelbus thinks:

Appealing to a higher court...yes, that worked well for Susan Kelo.

Posted by: Perry Eidelbus at May 21, 2009 9:10 AM
But Keith thinks:

... which in turn makes me dread the choice the Prezznit will make for the Supreme Court vacancy. The ones I've seen floated are not the ones I'd trust to umpire a minor-league baseball game, much less any case worthy of the court's attention.

Wake me when it's over...

Posted by: Keith at May 21, 2009 10:57 AM
But jk thinks:

No, Keith. We will beat up the SCOTUS picks when they come, but there is so little good news in life, take comfort that President Obama cannot possibly pick somebody worse for liberty than Justice Souter and there is a chance that he might get "Soutered" himself.

We cannot lose. It's unlikely we'll win, but we cannot lose.

Posted by: jk at May 21, 2009 11:52 AM
But Perry Eidelbus thinks:

I don't know about "can't lose." We'll still get raped, just not any worse than before.

We're only seeing the beginning of what this administration will do to dismantle everything good that made this country so prosperous.

Posted by: Perry Eidelbus at May 21, 2009 2:50 PM

May 15, 2009

A Good Thing About the Obama Administration?

President Obama's new drug czar said some very intelligent things:

"Regardless of how you try to explain to people it's a 'war on drugs' or a 'war on a product,' people see a war as a war on them," he said. "We're not at war with people in this country."

Gil Kerlikowske, the new White House drug czar, signaled Wednesday his openness to rethinking the government's approach to fighting drug use.
Mr. Kerlikowske's comments are a signal that the Obama administration is set to follow a more moderate -- and likely more controversial -- stance on the nation's drug problems. Prior administrations talked about pushing treatment and reducing demand while continuing to focus primarily on a tough criminal-justice approach.

The Obama administration is likely to deal with drugs as a matter of public health rather than criminal justice alone, with treatment's role growing relative to incarceration, Mr. Kerlikowske said.


Larry Kudlow loves to quote the old Reagan joke about the young man who gets a big box of manure for Christmas and gets all excited, saying "there must be a pony around here somewhere!" That's optimism.

After making campaign noises about a more relaxed attitude to domestic wars, the appontment of Eric Holder at DOJ was seen as a big step back. I have to say Kerlikowske sounds like a step forward.

Posted by John Kranz at 11:27 AM | Comments (23)
But jk thinks:

By defining what a citizen is (a national citizen) the Feds clearly have arole in granting or denying its license.

I'm not a fan of the 14th, br. President Lincoln had Federal troops stationed in some Southern States and ratification was clearly coerced. The idea of US Citizenship really begins in the 14th. I'm suggesting that states offer State citizenship.

Posted by: jk at May 18, 2009 5:20 PM
But Boulder Refugee thinks:

My father-in-law would love you. He despises Lincoln and the 14th Amendement. We've had many a fine debate. He's a big-L Libertarian, but smart enough to vote Republican as a matter of practicality.

I am generally a fan of the 14th Amendment, because I find it unlikely that the Southern states would have granted anything close to liberty for blacks. And, it's not OK to abbrogate (lovin' that word today) individual liberty in the name of State's Rights. I will concede, however, that "equal protection" has been used and abused as elastically has "general welfare."

Posted by: Boulder Refugee at May 18, 2009 5:42 PM
But jk thinks:

I agree that it was required and that the southern states lost some authority to object. But I dislike the Federal power grab -- why not have an amendment that says the government will enforce equality of state citizenship?

Posted by: jk at May 18, 2009 6:23 PM
But Boulder Refugee thinks:

Not clear how the notion of "state citizenship" would work. Does that mean that I can be a citizen of Colorado without being a citizen of the US? Moreover, I thought impetus of the Constitution, and the Bill of Rights in particular, was to assure that no government could usurp the "inalienable rights endowed by our Creator." Does that not apply to US citizens, not "state" citizens?

Posted by: Boulder Refugee at May 18, 2009 7:29 PM
But Perry Eidelbus thinks:

This thread grew too fast before I could jump in before now, but here are a few things.

1. There's actually no Constitutional power over immigration, which was supposed to be free. Congress did have, under Article I, Section 8, to pass laws regarding naturalization. The two are extremely different. Even after the 14th Amendment was ratified, immigration was extremely free.

Conservatives can foam at the mouth about open borders, but in a proper world where there's hardly any government and public property, immigration becomes a matter of people trespassing on your private land. That means you can detain them, and shoot them if necessary.

2. JK is correct. "I'm not a fan of the 14th, br. President Lincoln had Federal troops stationed in some Southern States and ratification was clearly coerced. The idea of US Citizenship really begins in the 14th. I'm suggesting that states offer State citizenship."

The idea of federal citizenship for state citizens did not exist until 1868. Until then, you were a federal citizen only if you resided in a federal territory, e.g. the District of Columbia, and the pre-state Oklahoma and Utah territories.

Patrick Henry said unequivocally that "I am an American," but he meant it to disclaim being under the British Crown's authority. He was saying he wasn't an Englishman, not that he said he was a citizen of all states under the Continental Congress.

And yes, the 14th Amendment was forcibly ratified. If anyone doubts that, read your history: the Southern states' legislatures were occupied by the northern military once they refused to ratify.

3. "I find it unlikely that the Southern states would have granted anything close to liberty for blacks." BR, there you go again with the fallacial positive notion of liberty. Proper government can grant no rights.

For this reason, it doesn't matter if you're a citizen of a state or a federal territory. Your rights simply cannot be infringed by any government, federal, state or local.

Posted by: Perry Eidelbus at May 18, 2009 11:46 PM
But Boulder Refugee thinks:

Very good comments, PE, and I will accept your admonition that governments cannot grant rights and liberty that are inherent. However, they sure as hell can inhibit, infringe and usurp those rights. I find it unlikely that (most) Southern states would have restored those inherent right to black citizens without the 14th Amendment and the point of a gun.

Posted by: Boulder Refugee at May 19, 2009 5:33 PM

May 8, 2009

John Lennon's Got Nothing on Us!

[I]magine a world in which long-sealed court documents remained sealed during elections, and Star Trek producers didn't hit on married actresses.

Jim Glass of Scrivener.net dares to imagine a world where a young community organizer loses his bid to become the US Senator from Illinois. Hint: the young family's finances do not fare well. Glass links to a NY Daily News story:

[...] the Obamas were living off lines of credit along with other income for several years until 2005, when Obama's book royalties came through and Michelle received her 260% pay raise at the University of Chicago.

This was also the year Obama started serving in the U.S. Senate ... Michelle explained, "It was like Jack and his magic beans."


Don't let the little kiddies fret! The Prince wins the Senate seat, gets his wife the 260% raise. There's a lucrative book contract. And we all live happily ever after.

Hat-tip: Don Luskin -- and I invite you to check out all of scrivener.net (soon coming to the blogroll).

UPDATE: Welcome to the blogroll: Scrivener.net, complete with a picture in which "The late, great, Nobel economist Friederich Hayek demonstrates how to grab Inflation by the balls."

Posted by John Kranz at 10:37 AM | Comments (0)

May 7, 2009

Seventeen Billion Dollars

The Obama Administration has identified $17 Billion in possible budget cuts. Now I know what you're thinking: "Whew, at least my children will not be saddled with all that debt from the $3 Trillion budget! The President has trimmed MORE THAN HALF A PERCENT off it!" "Glory freaking be!"

But, wait. Congress is not necessarily on board for this cut-to-the-bone frugality. And many of these cost savings have been proposed before by that uncool, Texas guy that used to live there.

If there was a theme to Obama's cuts and spending initiatives, it was to continue to provide generous increases to domestic programs that had been squeezed during the eight years of the Bush administration while reviving oft-rejected Bush-era proposals to cut programs that critics say have outlived their usefulness but still have important support on Capitol Hill.

To recap: Obama identifies something like 0.566% of the budget for cutting and is destined to fail at accomplishing even that.

UPDATE: Everyday Economist brings two quotes of the day on this topic.

Posted by John Kranz at 6:15 PM | Comments (1)
But johngalt thinks:

In announcing his powerful and sweeping initiative to "End Bad Habits" the president said, "We can no longer afford to spend as if deficits don't matter and waste is not our problem."

Wow, Obama the spending hawk! What a difference 100 days makes: Obama: Spending is Stimulus. That's the Whole Point!

But if more spending stimulates economic recovery isn't it irresponsible to cajole congress to slash billions and billions of dollars of stimulative spending just when our nation needs it the most?

He closed by reiterating all of the ways the Administration has fought for fiscal discipline already, from supporting "pay as you go" rules, to ending sibsidies for insurance companies, to empowering government employees to find and suggest efficiencies. He pledged that this was just the beginning.

I sure am glad he supports "pay as you go" rules. I look forward to seeing the explicit funding sources for the president's economic Progress achievements.

Posted by: johngalt at May 8, 2009 11:21 AM

May 4, 2009

Cinco de Cuatro at Casa Blanco

My Democrat friends told me if I voted for John McCain i'd have a bumbling fool in the White House.

... and they were right!

President Barack Obama's joke wasn't lost in translation—even though he referred to a Cinco de Mayo celebration as "Cinco de Cuatro."
Obama jumbled his words as he welcomed guests to the White House to observe the Mexican holiday, sending the crowd into laughter before he referred to the day correctly.

"Welcome to Cinco de Cuatro—Cinco de Mayo at the White House," said Obama, in what appeared to be an attempt to note they were celebrating on the fourth of May instead of the fifth.

Cinco de cuatro means "five of four" in Spanish.

"We are a day early, but we always like to get a head start here at the Obama White House," he said.

During the presidential campaign, Obama acknowledged his Spanish skills weren't great.

"My accent's always been good," he said. "It's just that I only know 15 words."


Other examples include "Pak-ee-stan" and "Tal-ee-ban."

I always thought that those people who dont speak a language yet pretend to know how to pronounce the words were pretentious douchebags. Alex Trebek is on top of that list.

Posted by AlexC at 7:28 PM | Comments (6)
But jk thinks:

Yup, that Bush guy sure was an idiot!

Posted by: jk at May 4, 2009 7:56 PM
But Boulder Refugee thinks:

When Obama was railing that Americans needed to learn another language during the campaign, I always wondered why the press never asked the most obvious follow-up question: "How many languages do you speak fluently, Mr. Obama?" The answer is apparently "one" but only with a teleprompter.

Posted by: Boulder Refugee at May 5, 2009 10:24 AM
But Keith thinks:

"Five of four." What's that supposed to be, his place in the Borg collective? And will every American have one once we're assimilated? Is that the plan?

Posted by: Keith at May 5, 2009 11:18 AM
But jk thinks:

You guys are being too hard on the President for a small error. Just have a Happy Cinco de Cinco and get on with it!

Posted by: jk at May 5, 2009 11:43 AM
But johngalt thinks:

In defense of brothers BR and Keith, someone has to "be hard" on the president. The fourth estate certainly hasn't the stomach for the job. They're busy being "enchanted."

Posted by: johngalt at May 5, 2009 2:35 PM
But Perry Eidelbus thinks:

Obama does speak a little of a second language, enough to recite the call to prayer.

Arabic.

Posted by: Perry Eidelbus at May 6, 2009 10:17 AM

May 1, 2009

Specter An Impediment to Liberal Souter Replacement?

Oh the irony.

Does Arlen Specter's defection from R to D strengthen the President's hand in Congress? Perhaps overall but not on judicial appointments because breaking (the equivalent of) a filibuster in the Senate Judiciary Committee requires the consent of at least one member of the minority. Before today, Specter was likely to be that one Republican. Now what?

More from Bill Jacobson:
Now this is interesting. Specter could allow a nominee out of committee if Specter was a member of the Republican minority, but as part of the majority, he's just another vote. Here are the other Republicans: Orrin Hatch, Chuck Grassley, Jon Kyl, Jeff Sessions, Lindsey Graham, John Cornyn, and Tom Coburn.

The weak link is Lindsey Graham, who was a member of the Gang of 14. If Graham says the course, the Republicans may not be able to stop runaway spending, military retrenchment, and an interrogation witch hunt. But Specter may have handed Republicans a gift.

Posted by AlexC at 12:08 AM | Comments (4)
But Perry Eidelbus thinks:

I doubt it. "In politics, nothing happens by accident. If it happens you can bet it was planned that way." This is a popularized false quote of FDR, but it's still true.

In politics, there are no coincidences. No justice on the SC, especially a partisan hack like Souter, is going to retire without first consulting party leaders. Souter didn't just wake up the morning after Specter's "defection" and think, "I'm going to retire." The announcement probably wouldn't have been made for a while, either, except that some anonymous source told the press, "Hey, I think Souter's retiring, because he hasn't hired any clerks." It was impossible to contain after that.

If the Democrats were so dependent on Specter, they'd have told him to wait until after the confirmation process. It would have given Specter an additional excuse about not wanting to stay with the "partisan GOP," etc. But evidently the Democrats are confident, and why shouldn't they be, that at least one Republican will wave on Souter's successor.

Posted by: Perry Eidelbus at May 1, 2009 9:36 AM
But AlexC thinks:

I thought Souter was a Republican... he was nominated by Bush 41. ;)

Posted by: AlexC at May 1, 2009 11:39 AM
But johngalt thinks:

I have it on good authority that Arlen's first concern is Arlen's re-election in 2010. Even if the Dems did ask him to wait until after Souter's replacement is nominated I think he told them to pound sand.

Posted by: johngalt at May 1, 2009 1:02 PM
But johngalt thinks:

On second thought (I'm almost embarrassed that it took me a few minutes to realize this) if all Arlen has to do to become a Democrat is issue a press release he can just do the same thing in reverse on the morning of the committee vote and become a "RINO for a day." If he won't do it then I'm sure one of the other highly principled Dems on the Judiciary Committee would do so.

But it may be moot. According to the Judiciary's web site Arlen is still a RINO anyway. "It must be true - I saw it on the internet."

Posted by: johngalt at May 1, 2009 3:18 PM

April 30, 2009

AP Speaks Truth

How's that 95% tax cut thingy workin' out for you?

WASHINGTON – Millions of Americans enjoying their small windfall from President Barack Obama's "Making Work Pay" tax credit are in for an unpleasant surprise next spring.

The government is going to want some of that money back.

Posted by John Kranz at 6:14 PM | Comments (0)

April 29, 2009

Kudlow on 100 Days

Larry has two great pieces this week. One on Senator Specter's Switcheroo, but also an even better, comprehensive look at the first 100 Obama days which incorporates the event. Kudlow says "In the blink of an eye, Obama may have ended the Reagan revolution."

And with Sen. Arlen Specter switching from Republican to Democrat, Obama can now move the nation even further to the left. A filibuster-proof Senate will mean even greater economic restructuring with expanded government control of health care and energy and increased unionization.

This looks very much like a war against investors, businesses, and entrepreneurs. Shareholder rights are being eviscerated. Political decisions are replacing the rule of law, the rule of bankruptcy courts, and free-market principles.


Safe to say Kudlow, the optimist-in-chief, is not seeing the sunny side of sixty votes either. We beat up the topic pretty well a few posts down, but another reason for torpor is the Osama bin-Laden strong-horse/weak-horse theory. I remember the delirium in 1995 when my own Senator Ben Nighthorse Campbell defected to the GOP to join the mighty majority 104th. Everything was going our way and it underscored our advantages. I cannot be so shortsighted as to see this switch any other way.

Posted by John Kranz at 7:38 PM | Comments (2)
But Boulder Refugee thinks:

For those crazy enough and/or strong enough to watch the press conference, Obama started out with a statement that was patently offensive. He said that thousands (or millions, I can't remember) of homeowners had refinanced their mortgage, which was like a tax cut. So, lenders are forced to take a haircut at the end of a legislative gun and he takes credit for a "tax cut." Unbelievable.

Posted by: Boulder Refugee at April 29, 2009 10:09 PM
But Perry Eidelbus thinks:

Let me try to remember how I put it to someone last night. So Obama is coercing businesses into charging less for their services, then taking credit as if he were so magnanimous in letting us keep more of our own property...except that he's still going "full steam ahead" in stealing our property anyway.

That's the robber saying he's doing you a favor, because even though he took as much as he'd have anyway, he pointed a gun at the guy you hired to mow your lawn and forced him to take less.

So forcing businesses to charge less, which means they'll have to cut workers' hours and/or lay some off, which will ripple throughout the economy, is a tax cut in Obama's Bizarro World.

As Mark Steyn recently penned:

As I like to say about Obama's plans to raise taxes only on the rich, you'll be surprised what percentage of the population find themselves in "the richest five percent" by the time we're through. There are simply not enough of "the rich" to pay for what western governments are spending.

Posted by: Perry Eidelbus at April 30, 2009 12:43 PM

April 28, 2009

Too Sad to be Funny; Too Funny to be Sad

I read several posts yesterday about the President's little photo-op over lower Manhattan. But this video captures the panic and terror and really puts it in perspective.





I'll admit to surprise that it attracted MSM coverage (East of the Hudson, I guess) but Perfunction offers more video in which Administration officials are actually asked pointed questions. Our new head of Homeland Security passes the buck to the FAA -- "they approved it."

As Instapundit (and this is an inline hat-tip) would say, "The Country's in the Very Best of Hands."

Posted by John Kranz at 11:40 AM | Comments (0)

April 25, 2009

Thank You, Mr President

Are you kidding me?

In Europe, the president was asked if he believed in “American exceptionalism,” and replied: “I believe in American exceptionalism, just as I suspect that the Brits believe in British exceptionalism and the Greeks believe in Greek exceptionalism.”

Gee, thanks. A simple “no” would have sufficed. The president of the United States is telling us that American exceptionalism is no more than national chauvinism, a bit of flag-waving, of no more import than the Slovenes supporting the Slovene soccer team and the Papuans the Papuan soccer team. This means something. The world has had two millennia to learn to live without “Greek exceptionalism.” It’s having to get used to post-exceptional America rather more hurriedly.


Mark Steyn, a must read, as always.

Posted by AlexC at 12:55 PM | Comments (0)

April 21, 2009

First One Hundred Days

Grade it.

I'm going with F, along with over a million of my countrymen.

failure

Posted by AlexC at 9:56 PM | Comments (5)
But jk thinks:

Must chap their hide over at MSNBC something fierce!

Posted by: jk at April 22, 2009 7:09 AM
But johngalt thinks:

With me, a million and one.

As for MSNBC being chapped... naw, they just dismiss it as "the redneck vote." They'll only acknowledge the A-D votes.

They are free to call me a redneck - I take no offense - but I'd rather be called a cowboy.

Posted by: johngalt at April 22, 2009 10:27 AM
But Perry Eidelbus thinks:

Putting things in perspective, it takes all A, B and C raters to equal the Fs.

Also, this survey means that 69% of Americans are racists (overtly or in the closet) for not believing in The One.

Posted by: Perry Eidelbus at April 22, 2009 11:44 AM
But johngalt thinks:

With a majority clearly giving him an F, I say it's time to unpimp the Obama Administration.

Posted by: johngalt at April 22, 2009 7:33 PM
But Perry Eidelbus thinks:

Technically it's a plurality giving him an F, although not much shorter than a majority. A definite majority, though, are giving him either a D or an F.

Posted by: Perry Eidelbus at April 23, 2009 11:24 AM

TEA Bagging Rednecks

If President Obama were (completely) white would protests against "spreading the wealth around" still be racist? Duh.

This is what nobody is watching over on MSNBC.

Oooh, isn't Keith clever!

Did it ever occur to Jan that if most of the people protesting taxes are white this tends to show that most of the people being taxed are white? Doesn't this make taxation "racist?"

You can reason with all of the people some of the time, but you can't reason with some of the people any of the time.

Posted by JohnGalt at 12:25 PM | Comments (3)
But Boulder Refugee thinks:

Garofalo's views are so wacky she got tossed from the uber-liberal Air America. So, Olbermann gives her prime time. Says a lot about Olbermann, too.

Posted by: Boulder Refugee at April 21, 2009 12:55 PM
But jk thinks:

I've had many unkind words for FOXNews around here. But I cannot in my wildest dreams imagine (mutatis mutandis) an equivalent scene: the teabagging slurs, the assertion that an opposing political view is a neurological disorder, the denigration of a large group of ordinary citizens -- am I naive? Would Hannity and Dick Morris yuk it up like this?

Posted by: jk at April 21, 2009 2:01 PM
But Kathy T. thinks:

The answer is NO. Hannity and Morris are unabashed conservatives but are not evil minded like Garofalo is. I've watched both for years and have never heard such vulgar garbage from either of their mouths. She should be banned from all media. She is a disgrace.

Posted by: Kathy T. at April 25, 2009 10:51 PM

April 20, 2009

Hate to Whack a Guy for Trying, But---

Heritage thinks a picture worth a few words

obama_cuts.jpg

Instapundit and I agree

Posted by John Kranz at 7:08 PM | Comments (1)
But johngalt thinks:

Arthur Laffer said recently that when he worked on President Reagan's budget team they considered $46 million to be a rounding error. "We rounded it to zero." That was in the early '80s.

Posted by: johngalt at April 21, 2009 12:24 PM

Fiscal Responsibility II

WaPo reports that the President will ask his cabinet members to come with $100 Million in budget cuts.

To put those numbers in perspective, imagine that the head of a household with annual spending of $100,000 called everyone in the family together to deal with a $34,000 budget shortfall. How much would he or she announce that spending had be cut? By $3 over the course of the year--approximately the cost of one latte at Starbucks. The other $33,997? We can put that on the family credit card and worry about it next year.

Hat-tip: Professor Mankiw

Posted by John Kranz at 2:23 PM | Comments (1)
But Keith thinks:

But it will be duly reported throughout the obedient MSM that Obama is demanding "budget cuts," and the proles who voted him in will nod in solemn agreement that the Prezznit is cutting budgets. $100 mill seems like a lot of budget cuts to people with no sense of numbers with that many zeroes - especially those who learned math in the California public education system.

Posted by: Keith at April 20, 2009 3:40 PM

April 19, 2009

Fiscal Responsiblity

Catch the Fever!

President Obama: "Keeping the Promises"

"I realize that passing this budget won’t be easy. Because it represents real and dramatic change, it also represents a threat to the status quo in Washington. I know that the insurance industry won’t like the idea that they’ll have to bid competitively to continue offering Medicare coverage, but that’s how we’ll help preserve and protect Medicare and lower health care costs for American families. I know that banks and big student lenders won’t like the idea that we’re ending their huge taxpayer subsidies, but that’s how we’ll save taxpayers nearly $50 billion and make college more affordable. I know that oil and gas companies won’t like us ending nearly $30 billion in tax breaks, but that’s how we’ll help fund a renewable energy economy that will create new jobs and new industries. I know these steps won’t sit well with the special interests and lobbyists who are invested in the old way of doing business, and I know they’re gearing up for a fight as we speak.

obama-budget-debtjpg

Posted by AlexC at 5:49 PM | Comments (1)
But Perry Eidelbus thinks:

Heritage usually puts out excellent work, and the two problems here aren't really their fault. They're just going by the CEA's numbers. However, what they should have done is take the CEA's projections, then say the numbers underproject future debt. Going the extra mile is what gets an "A" on an economics class exam.

As bad as the CEA shows us, the projection still vastly understates future debt. It's utterly stupid to adjust debt for inflation. The CEA doesn't know what inflation will be over the next decade. But it's worse than stupid: the CEA is using it as a trick so that total federal debt will look smaller than today.

The second problem is that the CEA and most everyone else aren't taking into account what will happen after 2016. That's when Social Security outlays will exceed revenues, and the SSA must start redeeming the so-called "trust fund." The problem, of course, is that the Treasury, by law, already got the money to spend according to Congressional legislation.

There will be two effects. First, the SSA's deficit will have to come from shifts in federal spending and/or tax hikes. Any tax hikes can be specific to SS or come from other federal revenue. It's highly doubtful that benefits will be cut. AARP and senior citizens as a whole, "the geezers from hell" as Mark Russell once sang, are too powerful a lobby.

This country is going faster and faster on its way to hell, and most Americans act as if they can't get there fast enough.

Posted by: Perry Eidelbus at April 21, 2009 8:58 PM

April 17, 2009

Denver TEA Party 4-15-09 Video

Those of you with small children understand that it only takes twice as long to get things done when they're around. I've finally managed to complete the process of selecting, capturing, uploading and linking my April 15th Denver TEA Party video. Here are the two best selections from the limited amount of video I taped.

First, a short Reagan quote.

And here is a rumored GOP candidate to challenge appointed Colorado Democrat Michael Bennet in 2010: Weld County District Attorney Ken Buck. In my opinion he'd be the front runner. Here he lambastes the idea that the solution to problems caused by big government is, more government. (Brother JK won't like his opening remark about "illegals" but try to get past that before forming an opinion.)

Posted by JohnGalt at 3:25 PM | Comments (0)

"Stunned by huge turnouts, GOP leaders seek to channel energy"

That's the sub-head on this Washington Times story following up the 4-15 TEA Parties. The media may not have noticed what happened that day, but at least a few Republican party officials did.

"This is an opportunity for the Republicans or an opportunity lost, depending on how quickly they act," said John Brabender, a Republican Party campaign strategist. "If Republicans don't take advantage of this opportunity, you are looking at the real birth of a third party in this country."

Blog brother T.Greer opined that the TEA Party turnout was "dismal" (comments 2 and 4) though in fairness, he hadn't yet had time to read my late breaking account of the Denver event. This Georgia Republican sees it differently, however:

"This has legs, no question. The sheer number of people who turned out for something like this in Atlanta was astounding," said James Sibold, former Republican Party chairman of Georgia's DeKalb County.

Despite murmurs of a third party growing out of this I personally believe the best outcome would be a retasking of the Republican party. It is "a republic, ma'am" after all that we're trying to keep. This Michigan GOPer seems to understand:

Michigan Republican Party chairman Ronald Weiser said it was critical that the party reach out those who went to Wednesday's rallies. "They will vote for Republicans if they believe we're responding to the change they want and the feelings they have," he said.

But to really appeal to the silent majority of Americans they'll also need to find a way to get the GOP platform out of people's bedrooms. Stand for moral behavior, yes, but don't try to make it the law. (More on this later.)

Posted by JohnGalt at 2:34 PM | Comments (3)
But jk thinks:

The pragmatist in me is hoping that the GOP can still hop on this moving train. Some blogger worried that the GOP would try to co-opt this movement; I was hoping that this movement might co-opt the danged Republicans.

I think the GOP has been demoralized by corrupt Republican legislators and divided by the immigration debate. Yet there is a full time job defending this country from collectivism, and I can't see any but the Republican party doing it. The Democrats are too much in hock to collectivist constituencies. While a principled third party always sounds romantic, there will be no liberty left to protect when it's assembled, and if you'll tolerate one moe metaphor, you don't divide your armies on the eve of battle.

Posted by: jk at April 17, 2009 3:43 PM
But Boulder Refugee thinks:

I think we can all relax. First of all, if the GOP can recover from Nixon and the anti-war 70's, it can recover from anything. Second, the election is 18 months away. That's an eternity in politics. As the movement crystalizes, leaders will emerge around whom the rest of us can rally.

Posted by: Boulder Refugee at April 17, 2009 5:38 PM
But jk thinks:

Relax as in "don't panic and attempt to avoid despair," I'm in.

Relax as in expect the emergence of a viable political movement to oppose collectivism -- I ain't so sure. We cannot get together on immigration or abortion (though we appear to have consensus on the DH and infield fly rule), there is no obvious housecleaning underway in the GOP. The left owns the Commanding Heights of academia and the media is more empowered than ever before to shape an individualist message.


Posted by: jk at April 18, 2009 11:24 AM

It's Official

ThreeSourceTerrorists.jpg

Posted by AlexC at 12:41 PM | Comments (1)
But Boulder Refugee thinks:

Terrorist acts are now "man-caused disasters" and pirates are "volunteer coast guard." The only time the T-word is used is in reference to Republicans and Conservatives. Tells you all you need to know about how this administration views the world.

Posted by: Boulder Refugee at April 17, 2009 1:27 PM

April 16, 2009

Denver TEA Party 4-15-09

It was in Denver, and it was on tax day, but we weren't protesting (just) taxes. The principal motivation for the overwhelming majority of these people to take time away from their happy and busy lives to go act like NEA members for a few hours can be distilled into a few words:

Unprecedented spending, borrowing, printing, and redistribution of the US dollar by incompetent politicians in our federal and state governments.

Of all the intelligent, funny and pointed signs I saw at the protest I don't think anything makes that point any better than this small incident of vandalism on the back of state senator Suzanne Williams' Lexus that was parked next to the capitol building:

There were plenty of "grandmas" in the crowd, and they wanted to know why their successor generation can't read:

IMGA0476.JPG

In stark contrast to the "best and brightest" young pinkies from Columbia and Harvard, this young man has apparently been reading up on Constitutional law:

This Vietnam war veteran clearly knows what is worth fighting for. (Susan Roesgen would ask him what his sign has to do with taxes.)

IMGA0459.JPG

This guy reminded me of the March 30 Mallard Fillmore strip. I asked him, "Do you know how it's possible that you could be considered a right-wing extremist? It's because the eco-terrorists are now running our government!"

IMGA0471.JPG

This young lady was standing next to me at the time and quickly turned to look at me after I'd unleashed that zinger. When I looked at her she wouldn't make eye contact with me. (Look closely at her chest.)

IMGA0472.JPG

And here were THE counter-protesters, safely on the other side of the street. Well, OK, I did see a couple other guys carrying a big sign saying "IT'S BUSH'S FAULT" through the crowd. I asked them if Bush was responsible for the Community Reinvestment Act because it killed my job. I got laughs from those around me when I read the fine print from the bottom of one of the signs across the street: "Just Shut Up And Pay. What a perfect slogan for a liberal!" (And for the record, I had no idea what the slang meaning of "tea bagging" was until I heard about it on MSNBC.)

IMGA0490.JPG

Now don't misunderstand me. We were protesting taxes too, but not so much because they are too high, or will necessarily rise under present leadership, but because so many of our fellow "citizens" don't pay any. If you want to talk to us about "equality" then let's start with each person's individual tax burden.

Pics of many more excellent signs that require no explanation continue, below the fold:

(I LOVE this one!)

(There was LOTS of honking.)

(This is what 5000 peacefully pissed-off people looks like.)

(Of course my friend Russ was there. And he's a CPA for NED's sake, not an activist!)


Posted by JohnGalt at 4:31 PM | Comments (1)
But jk thinks:

Nice -- okay, so I lied about "no vandalism." (Initial reports indicate damage could run as high as two or three dollars.)

Posted by: jk at April 16, 2009 5:08 PM

April 13, 2009

Here's To You, Mr Jefferson

Posted by AlexC at 11:47 AM | Comments (1)
But jk thinks:

Awesome. Happy Birthday Mister Jefferson!

Posted by: jk at April 13, 2009 4:05 PM

April 4, 2009

If Obama Has Lost The Guardian...

Too funny, and consider the source. John Crace in The Guardian is dismissive of "the Great Orator's" response to a question from a BBC reporter. Nick Robinson asked whether the US or UK was to blame for the economic downturn:

Brown immediately swivels to leave Obama in pole position. There is a four-second delay before Obama starts speaking [THANKS FOR NOTHING, GORDY BABY. REMIND ME TO HANG YOU OUT TO DRY ONE DAY.] Barack Obama: "I, I, would say that, er ... pause [I HAVEN'T A CLUE] ... if you look at ... pause [WHO IS THIS NICK ROBINSON JERK?] ... the, the sources of this crisis ... pause [JUST KEEP GOING, BUDDY] ... the United States certainly has some accounting to do with respect to . . . pause [I'M IN WAY TOO DEEP HERE] ... a regulatory system that was inadequate to the massive changes that have taken place in the global financial system ... pause, close eyes [THIS IS GOING TO GO DOWN LIKE A CROCK OF SHIT BACK HOME. HELP].

You'll probably want to read the whole thing. I was taken back to the second Presidential debate, perhaps the worst night of my young life, when it was clear that neither Senator McCain nor then Senator Obama had the slightest clue what was wrong. As predicted, one of them became President, and now we have a guy who has no clue. I suppose I should be happy that McCain didn't win and tell the BBC that it was "greed and corruption on Wall Street." Our blessings are so few this year, we have to enjoy them.

Hat-tips: Roger Kimball via Insty

UPDATE: The Sun

Posted by John Kranz at 12:41 PM | Comments (9)
But Boulder Refugee thinks:

According to our press, the Europeans love this guy. So, The Refugee would like to propose a trade in the spirit of baseball's opening day. We'll give him to the Europeans in return for a stale baguette, a glass of warm beer and a wheel of rotten cheese to be named later.

Posted by: Boulder Refugee at April 6, 2009 12:28 PM
But Keith thinks:

Refugee: Europe loves him so much, I'd be tempted to just let the have him gratis - if they take his wife as part of the deal. But let's raise the stakes.

I propose Europe gets him and the missus. In return, we get Sarkozy and Bruni. I think, though, it would also cost us two draft choices and an undisclosed amount of cash.

Posted by: Keith at April 6, 2009 7:33 PM
But Boulder Refugee thinks:

I realize that I was driving a hard bargain asking for the wheel of rotten cheese - some of that stuff can be pretty pricy. How 'bout if we trade Obama and the missus straight up for Vaclav Havel? If that still too steep of a price for the Europeans, we'll throw in an Obama bowling score sheet, a sweaty White Sox ball cap and another set of American DVDs that won't run on European machines.

Posted by: Boulder Refugee at April 6, 2009 8:03 PM
But Keith thinks:

Refugee: as a true free-market capitalist, I endorse the notion in bargaining that you start the bidding with an offer most advantageous to yourself, and bargain down from there. Havel would be a great score for our side, and I would accept such a trade; but given that Sarkozy would be much better than our current head of state PLUS, given the possibility of recasting "Casablanca" (see the above post), Ms. Bruni would not only be an improvement over our current first lady, but we could offer her a shot at a being a theatrical leading lady (the camera does like her, and I posit jk would accept her playing opposite Russell Crowe) if she can act.

See how I can tie things together when I put my mind to it?

Posted by: Keith at April 6, 2009 9:12 PM
But Keith thinks:

And while we're on the subject of American DVDs, I hope that when Obama has his much-anticipated confab with Iran's Mahmoud Ahmadinejad and they do their gift exchange, I hope Persian-made DVD players can read the copy of "300" that Obama gives him.

Yeah, putting the "smart" in "smart diplomacy..."

Posted by: Keith at April 6, 2009 9:15 PM
But johngalt thinks:

'300' for President Ah'm-in-a-jihad? Ouch!

This seems like a good time to thank Keith and BR for their regular contributions to this blog. You really do make it fun.

Posted by: johngalt at April 7, 2009 12:01 PM

April 3, 2009

Phones: It's Not New Technolgy

How does this happen in the smartest administration evah?

Journalists seeking to talk a little foreign policy with high-profile Obama administration officials live from the G20 meetings in London this week were solicited for phone sex instead after ringing up the toll-free number given by the White House.

In a press release, the White House accidentally listed a sex line number for journalists seeking an "on-the-record briefing call with Secretary of State Hillary Clinton and National Security Advisor Jim Jones to discuss the NATO summit."

But after dialing, a soft-voiced female recording that was clearly not Clinton asked for a credit card number if you "feel like getting nasty."


... well someone's getting screwed, that's for sure.

Posted by AlexC at 12:42 AM | Comments (2)
But Keith thinks:

AlexC: it's bad enough that Obama is taking over GM, getting ready to nationalize the banks and insurance companies, and thinking seriously about taking over the healthcare industry.

If he's even getting into dial-a-pr0n, he's overreaching. I say this is our Lexington. If we can't even fight for our pr0n...

Posted by: Keith at April 3, 2009 9:47 AM
But Boulder Refugee thinks:

The number given to the press was actually a legitimate White House number. Unfortunately, they were unaware that it forwarded to a secret speed dial number left over from Bill.

Posted by: Boulder Refugee at April 3, 2009 11:01 AM

April 2, 2009

Mark to Market relaxed

Today President Obama hailed agreements at the emergency meeting of world powers Thursday as a "turning point in our pursuit of global economic recovery."

Balderdash! Here is the turning point in American, and therefore global economic recovery:

The changes to so-called mark-to-market accounting allow companies to use “significant” judgment when gauging the price of some investments on their books, including mortgage-backed securities. Analysts say the measure may reduce banks’ writedowns and boost their first-quarter net income by 20 percent or more. FASB voted 3-2 to approve the rules at a meeting today in Norwalk, Connecticut.

(...)

Companies weighed down by mortgage-backed securities, such as New York-based Citigroup, could cut their losses by 50 percent to 70 percent, said Richard Dietrich, an accounting professor at Ohio State University in Columbus.

So there you have it. A 20 percent boost in first-quarter net income and losses cut by more than half with the stroke of a pen! (By a 3-2 margin, mind you.) But every silver lining has a cloud. The geniuses at FASB are letting companies back date the new rule for first quarter reporting, but not for 2008 year-end.

FASB rejected requests from banks to let them apply the fair-value change to their year-end financial statements for 2008. While the new standard takes effect for earnings reports filed at the end of June, FASB said companies could apply it to their first-quarter financial statements.

Can't have too much of a good thing, I suppose. Or perhaps they just want the 2008 "Bush era" data to look as bad as possible going forward.

Posted by JohnGalt at 2:57 PM | Comments (1)
But Keith thinks:

JG: your final sentence hits the truth square in the ten-ring.

I've come up with the perfect economic recovery plan. Obama leaves the country for 48 hours, mark-to-market is relaxed, and the Dow shoots above 8,000. I say a trend has to be respected. Let's have Obama take an extended vacation overseas to practice his bowling while we start deregulating stuff. It could be economic paradise.

Posted by: Keith at April 2, 2009 3:53 PM

March 28, 2009

What is the Constitutional Term Limit on Dictator of the United States?

Hot on the tail of my blog showing Twice as many now believe U.S. evolving into socialist state comes former Speaker of the House of the United States, Newt Gingrich, saying the country is heading to a dictatorship.

"My specific reference was to dictatorial powers, that I thought that Secretary of the Treasury Geithner was asking for, where he would decide what companies to take over, he would decide under what circumstances, and let me tell ya, the American system was not built for one bureaucrat to decide whether or not they're gonna take your property. (...) And then look at what they're trying to do on the budget, where they're trying to ram through a resolution, to break the rules of the Senate, to be able to get through both an energy tax increase and a massive change in our health system on 51 votes, which is clearly a power grab of unprecedented proportions. I think dictatorial is a strong word, but it may frighteningly be the right word."

Is anyone else beginning to wonder why Obama doesn't seem concerned about re-election?

Posted by JohnGalt at 9:57 AM | Comments (9)
But johngalt thinks:

The inference that Obama may not intend to step down was mine, based solely on the similarities between the Obama regime and the Hugo Chavez regime.

I'm not a big "drug war" guy but the laws should be enforced or changed - I generally lean toward the latter.

Let's talk about his current punditry in a more objective manner. Consider his latest incarnation of a contract proposal:
http://www.americansolutions.com/directupload/pdf/12SolutionsPrintoutFinal.pdf

I find little to disagree with here. Probably some elements of item 12 are first on that list.

Posted by: johngalt at March 29, 2009 1:25 PM
But johngalt thinks:

Oh, and on "dictatorial" I say it's time to call a spade a spade. Only in a politically correct forum can that be disparaged as "alarmist."

Posted by: johngalt at March 29, 2009 1:27 PM
But T. Greer thinks:

But JG- hes not a dictator. Not yet anyway.

The Merriam-Webster Online dictionary gives three definitions for dictator:

a: a person granted absolute emergency power
b: one holding complete autocratic control
c: one ruling absolutely and often oppressively

Which of these labels does Obama fit into? Option A can be scratched off the list pretty quick, as Obama does not have emergency powers of any sort (yet). Option C can likewise be knocked down, as Obama does not have absolute control over the lives of the citizens of the Unites States. This leaves us with Option B- but here to we have problems. Obama is not the only autocrat in Washington; like most Presidents he must wrangle with Congress. Indeed, from what I have seen he had to pull all stops in order to do so.

Posted by: T. Greer at March 31, 2009 12:24 PM
But johngalt thinks:

Excuse me if it seems like I'm parsing words but I was careful to say "dictatorial" and not "dictator."

dictatorial –adjective
1. of or pertaining to a dictator or dictatorship.
2. appropriate to, or characteristic of, a dictator; absolute; unlimited: dictatorial powers in wartime.
3. inclined to dictate or command; imperious; overbearing: a dictatorial attitude.

Both 2 and 3 fit administration policies.

Posted by: johngalt at April 1, 2009 1:11 PM
But T. Greer thinks:

Hey, if I pull a dictionary out on you, feel free to parse words all you want!

BTW: I will cede the point.

Posted by: T. Greer at April 1, 2009 4:32 PM
But Jason Kennerly thinks:

Not at all - as long as Republicans keep pulling boners in public like this, one after another, he's a virtual shoe-in in 2012.

The total collapse of the crooked financial system has completely revealed the falsity of the so-called "social conservative" position that once made Republicans so popular. Whats left - it was the last Republican administration that increased spending and government regulation (albeit, perhaps not where regulation was *actually needed*) more than any other in history, so you can't exactly blame that on democrats any more.

Remember, kids, the net ROI on war and weapons is always either zero, or negative!

Posted by: Jason Kennerly at April 3, 2009 3:14 PM

March 27, 2009

The Virtue of Selfishness

Last month Keith and I discussed Christian charity in the context of Rand's Objectivist philosophy that "altruism is incompatible with freedom, with capitalism, and with individual rights. One cannot combine the pursuit of happiness with the moral status of a sacrificial animal" she said.

A recent post on Dr. Helen's blog has a clip of Ayn Rand explaining selfishness to Phil Donahue: (very near the end) "If you made it yourself... then you should keep all of it. Why shouldn't you, you made it?"

The comments include a discussion of charity. Trey says, "I agree with Rand's political philosophy, but her ideas concerning charity go against my spiritual beliefs" and Laura says, "For me, and presumably for Trey, charity is a primary virtue" and "For a Christian, charity is not optional. We don't need to make other people be charitable, but we ourselves must be."

Naturally, I had to chime in.

Laura and Trey, You may not need to make other people be charitable, but the leftists in our government do. Since you consider charity to be a "primary virtue" then you cannot fault the leftists for forcing others to "be charitable" (as you said you must be.)

This is how Christian altruism enables Marxist-Leninist policies to proliferate in western governments. (If something is "virtuous" then how is a government mandate for it not also virtuous?)

Honorable mention also for Rand's slapdown of Donahue over middle eastern oil (at the very end of the clip.)

Hat tip: Cyrano via email

UPDATE - 3/30, 01:57 EDT: Posted a new comment on Dr. Helen (number 26).

Laura, I certainly don't believe that government mandated virtue is virtuous, but was making the case that "charity as virtue" is part of the leftists' justification for implementing their statist policies within a government that, as Seerak so eloquently stated it, "vested moral and political sovereignty in the individual." Or at least did so at its inception. My intent was not to "explain Christianity to Christians" but to explain how the Christian tradition of charity is leveraged by non-Christians, anti-Christians even, to further their own collectivist, egalitarian aims.

The original subject here was Rand's opinion on charity, which you quoted from her as essentially "not a moral duty or a primary virtue." But one must also be consciously aware of the distinction between charity and altruism. Charity is, as Rand said in your quote, "helping other people, if and when they are worthy of the help and you can afford to help them." But when a philosophy makes a virtue of helping other people without first making these individual value judgements or worse, after first judging them unworthy of help, then charity becomes altruism. This is the type of "charity" that is practiced by governments, for everyone must be treated "fairly" and "equally" in that context. It is not merely that this charity is forced upon the givers, but that the receivers can be completely void of any redeeming value and still receive.

At the beginning of the Donahue interview Rand said she regarded altruists as "evil." In an essay on Man's Rights by Ayn Rand she wrote: "America’s inner contradiction was the altruist-collectivist ethics. Altruism is incompatible with freedom, with capitalism and with individual rights. One cannot combine the pursuit of happiness with the moral status of a sacrificial animal." This is the moral and philosophical base for her assertion at the end of the Donahue interview, "If you made it yourself... then you should keep all of it. Why shouldn't you, you made it?"

For those who have further interest, I discussed this essay on my own blog where I attempted to show how America's founding fathers unwittingly laid the foundation for the socialist future we now see our country rushing towards. See: http://www.threesources.com/archives/006223.html

The 6:18 pm March 28 comment there by 'Seerak' is interesting too, and worth a read...

Posted by JohnGalt at 10:45 PM | Comments (6)
But T. Greer thinks:

I dunno JG. One can agree with the statement, "Reading Atlas Shrugged is a good thing" without also agreeing with the statement "The government should force everybody to read Atlas Shrugged", right?

Furthermore, I would propose that this is a common misunderstanding of what the word "charity" truly means. Like many words ("virtue" being the most amusing example) the meaning of the word seems to have changed substantially over the several thousand years of its use.

These days, charity is just some ostensibly kind action you would normally perform for someone you care about, save that for it to count as "charity" you cannot really have any feelings towards the recipient at all. In fact, the less self interest involved in the transaction, the more "charitable" your happen to be.

I shudder for those who think this to be a virtue. Certainly the Apostle Paul did not. Originally, charity was "the pure love of Christ." Indeed, the word used in the original Greek - "agape" - means "love." In this sense then, charity is performing actions of service for another being because you love them.

I am quite sure that Christ would condemn performing "charitable" actions for any other reason than this. After all, did he not chastise those "who appear righteous unto men, but within are full of hypocrisy and iniquity" with the “damnation of hell”?

I imagine a like judgment would be reserved for governments that pervert charity.

Posted by: T. Greer at March 28, 2009 1:58 PM
But Keith thinks:

Once again, I'm late to the table on a subject where I'm actually qualified to weigh in. Hmmmph. Shame on me.

TG, I agree with your proposition on the drift in the meaning of the word "charity," including your use of the word "agape" from the Greek - which was translated with the Latin "caritas" in the Vulgate, and became "charity" in the King James to distinguish it from the feelings-based affection that "love" would imply. Most modern translations use "love." C.S. Lewis' "The Four Loves" would be useful here. The word's use as "giving money" is a more recent usage than most would know.

Within Christianity, giving ought never be an act of obligation - after all, if it's an obligation, then it is not voluntary, and if not voluntary, then it's no good. That quote JG cites - "For a Christian, charity is not optional" - makes no rational sense, does it? If the act is not optional, but is mandatory, then it's not charity, but sort of a divine taxation. Yes?

Since Sunday is coming, allow me to drop an odd thought. If you all happen to have a Bible around somewhere, visit the fifth chapter of Acts, the first eleven verses, for the incident of Ananias and Sapphira. A man, Ananias, sold a piece of land and donated a part of it to feed the church, keeping the rest for himself - but pretended he was donating the entire proceeds. Peter's rebuke in verse four is critical: "While it remained unsold, did it not remain your own? And after it was sold, was it not at your disposal?"

In terms our modern ears would appreciate, what Peter was saying was "You were never under any obligation to give any part of your property. While you owned the land, your ownership was legitimate and respected; after you sold it, the money with yours to do with as you see fit." Neither God nor the church leadership ever laid any burden on him and his wife to pony up a dime. Fancy that!

If that's the only sermon you have to endure this weekend, count yourselves blessed. Perhaps one day, I'll regale you with a few instances where there, in fact, is a command to be selfish - and I'll bet a nickel you can't find them.

See? There's a benefit to having a Shepherd Book along for the ride after all.

Posted by: Keith at March 28, 2009 3:57 PM
But johngalt thinks:

Clarification: When I wrote: "(If something is "virtuous" then how is a government mandate for it not also virtuous?)" it was meant to be rhetorical. I used it as a one sentence version of the argument that leftists would make to justify government force in the name of a "virtue."

I certainly don't agree with that notion, but meant to illustrate that when Christians themselves go to the leftists and say, "you can't make people do that against their will" that part of their rebuttal will be, "why not, since charity is such a good thing? More of it is even better!"

TG is obviously not the only one to misinterpret me (so clearly I was not clear enough) - Laura back on Dr. Helen's blog read me the same way. Interesting stuff back over there. I need to (as I expected) go back and engage - soon. Alas, chores come first.

Posted by: johngalt at March 29, 2009 1:42 PM
But T. Greer thinks:

@JG: Sorry to misinterpret your words. I appreciate you clarifying what you meant on this point.

@Threesource Admins in general: Dagny asked a question on the post half way down the page from here that is relevant to this post but is a side-point to the political-axis discussion being had down there. As I do not want to distract from that discussion, I shall post my answer to it here. If this is inappropriate, feel free to delete this post.


Dagny writes, "Keith states that Christianity is based on, "a well-informed, evidence-based faith." Please, Keith, can you explain what that means? My understanding is that the main definition of faith in religious terms is, belief WITHOUT evidence."

I would suggest that once again we have a case where the passage of time has created a word that in now the opposite of its original meaning. One says "I have faith that he will pull his life together" or "I have faith in the American people's ability to meet the challenges of the world", the implication being that you are stating what you want to be true but is in no way self evident.

This is not faith, in its original sense. Found in the first verse of eleventh chapter of Hebrews is the correct definition: "Faith is the assurance of things hoped for, the evidence of things not seen."

Thus, having faith does not mean believing in something despite evidence to the contrary- it means having accepted evidence that is so strong no other belief could be possible.


I can illuminate on the nature of this evidence if you wish. (I imagine Keith will come along and with his preachery way of writing things explain it better than I can, as he usually does.) For the moment, my time pressed self will yield up these words from the book of Matthew:

"Ask, and it shall be given you; seek, and ye shall find; knock, and it shall be opened unto you:
For every one that asketh receiveth; and he that seeketh findeth; and to him that knocketh it shall be opened

---Note to admins: Delete the preceding post. I html'd it wierd and my name is missing.---

Posted by: T. Greer at March 29, 2009 4:28 PM
But johngalt thinks:

Dagny's gone to bed so I'll take the liberty of asking you what observable evidence there can be which justifies belief in the unknowable?

By "observable" I mean objectively so, i.e. it's always there, every time, and can be seen by any observer (and not just Pons and Fleischmann.)

The phrase "Faith is the assurance of things hoped for, the evidence of things not seen" says to me that faith is a substitute for the assurance or the evidence.

Posted by: johngalt at March 30, 2009 2:17 AM
But Keith thinks:

JohnGalt and All: My apologies - as you can probably imagine, Sunday is a a busy workday for me, and I didn't have the opportunity to come back and participate in the conversation.

Out of respect for you, my gracious hosts, I'm going to not postjack ThreeSources and turn this into a theology blog. Instead, I'm going to invite you all to let me shift the venue for the faith part on this topic over to my turf here:

http://alhbible.wordpress.com

I hope y'all will forgive me the presumption, but I have taken the liberty of dedicating the thread to Dagny and JohnGalt, owing to it being their comments on this post and the "Twice As Many Now Believe.." post that prompted mine. The red carpet has been rolled out...

Posted by: Keith at March 30, 2009 5:37 PM

March 26, 2009

A Cheap Shot

stabilitydotgov.gif

John J Miller points out (and Insty links)

More than a month ago, Tim Geithner announced a new website: financialstability.gov. “The website will give Americans the transparency they deserve," he promised. As of today, however, the website is still under construction.

Are you feeling more confident about the adminstration now?


I got a kick out if it. But to be fair, there is quite a bit else going on on the webpage. I don't know what the wizkids at Treasury have planned (an animated Hamilton Avatar?) but I suspect they may have just forgotten to remove the "under construction" text.

Just more of that trademark ThreeSources fairness y'all tune in for.

Posted by John Kranz at 6:27 PM | Comments (0)

Twice as many now believe 'U.S. evolving into socialist state'

Before Obama was elected president a good friend disputed our impassioned arguments that America is becoming a socialist country. "I've been to Europe many times and I know what socialism looks like. We're not there and we're not going there anytime soon." Every time I see him I resist the urge to ask him about this again. But TechnoMetrica Market Intelligence has been asking, and compared the answers now to those from last August.

March%202009%20US%20socialism%20poll.gif

A thumbnail summary of the results is that among Republicans and independents, the group who believes America is becoming a socialist country has doubled (from 1/3 to 2/3 of Republicans and from 1/4 to 1/2 of independents). Democrats, more eager to support the ideology than speak its name, were more likely to see socialism in our future under Bush than Obama.

The link is a brief essay and explains the results of the larger poll as representing three groups: Undeclared Socialists, Passionate Capitalists, and Hybrid Deniers. (Worth reading just to see those in the squishy middle called "deniers.")

Posted by JohnGalt at 5:12 PM | Comments (15)
But T. Greer thinks:

JK & JG- You have taken everything I was going to say about the liberty/centralized power scale out of my mouth. Darn.

For the record, I am also a fan of those nice quandrant political scales. The one used by the Republican Liberty Caucus is my favorite of such sorts.

Posted by: T. Greer at March 27, 2009 1:42 PM
But johngalt thinks:

Yes, I found it ironic myself that I found so much common ground with the Ozark preacher. (Preachers ain't all bad, right Keith? :) The best parts of Christianity really are just Perry and the founder's 'Natural Law' and Uncle Eric's 'Juris Naturalis.' This is very similar to Rand's "true nature of man as a rational animal" development for an objective morality. As such, I'm on board.

If the "social conservatives" like Huckabee would just "get out of our bedrooms" they would find much less resistance to the balance of their values.

Posted by: johngalt at March 27, 2009 3:29 PM
But Keith thinks:

jg: The best parts of Christianity really are just Perry and the founder's 'Natural Law' and Uncle Eric's 'Juris Naturalis.' Ummmm... not sure I'll go that road; somehow I'm more comfortable saying the best part of Christianity is that it's objectively true in its claims, thereby appealing to the rational animal in me. On the other hand, I'm totally satisfied with Rand's "man as a rational animal" parallel, but as Christianity is not a blind leap of faith into the unknown so much as a well-informed, evidence-based faith.

jg, I find as ironic as you do the fact that you find more common ground with Huckabee than I do! What's clear is that you and I are running on some parallel tracks; the task of sorting people into Conservatives/Non-Conservatives can be as problematic as that of sorting them into Christians/Non-Christians. We've dealt with that more than once on my side; for a teaser, see this:

http://alhbible.wordpress.com/2009/03/15/what-is-a-christian/

One thing that's clear in both discussions is that neither self-identification nor media judgments are definitive. Complicating matters on my side, of course, is that the ultimate decider on who falls into which category have some longer-lasting consequences...

I don't have any children, but I'm going to have to check out the Uncle Eric books.

Posted by: Keith at March 28, 2009 3:19 PM
But dagny thinks:

I realize that this post is almost off the page and this is straying from the topic but I can't let it go. Keith states that Christianity is based on, "a well-informed, evidence-based faith." Please, Keith, can you explain what that means? My understanding is that the main definition of faith in religious terms is, belief WITHOUT evidence. I was raised Catholic BTW. I therefore have an overwhelming philosophical problem with this concept. If I am supposed to believe in God without evidence, who gets to decide what God says and wants? Unless God is speaking directly to me (and he hasn't) do I believe my priest? My Rabbbi? My Mullah? The Bible, which was written by men and re-translated many times?

Now we have a new can of worms. If I take what religion teaches without evidence, what else can I be talked into believing? Global warming? Keynesian economics? Multi-culturalism? Subjectivism in general?

So please tell me, what EVIDENCE am I supposed to base my faith on? This is not a rhetorical or sarcastic question, but one I have been asking for years to a chorus of ridiculous answers.

Finally, and on yet another subject, there has been a lot of traffic lately on the subject of, "Mark to Market," accounting rules not the least of which comes from my beloved. And as Keith says above, "Once again, I'm late to the table on a subject where I'm actually qualified to weigh in." I'm looking forward to a detailed "weigh-in" on this subject from an accounting perspective in the next month or so. But I claim that no one can expect such from someone in public accounting in the last 2 weeks of MARCH. So you can all look forward to a boring, expository filled with TLA's in the future.

Posted by: dagny at March 28, 2009 9:38 PM
But nanobrewer thinks:

Excellent comments, all. I'll be directing my personal contacts to this discussion. Huckster vs. McCain? C’mon, old news, let’s move along. The Preacher is good at what he is; let him reside there. I'd like to take up the discussion of political classifications, even hoping it gets its own post. I see there’s a Wiki article started on this.

1. I think classifications are useful, as people do want a 'team' to be on, to root for, and feel like they are in the game.

2. The way to get classifications into widespread use, is to get people to adopt them. Labels are assigned from the top down, a social model that nearly never works but that’s so easy, and feeds the egos of those from Rush 2 Obama; thus, their frequency. The easy part, btw, is what makes popularity in the media world, not the real world.

3. To get widespread use, they need to be simple and understandable.

So, I think two-axis (Lib/Cons. R/D, Socialist/Capitalist, etc….) approach is too divisive to get broad appeal. Even the very simple, 4-quadrant approach now adopted by RLC, as noted by TG (for more, see the end) I think is too complex.

I propose a three-axis model.
Economic Freedom
Personal Liberty
Moral(ity) Index

The first two are well known, hopefully well understood, and useful, powerful, pertinent, and rooted in our constitution. The third is where I’m moving into new ground, inspired by JK’s comments on morality and the need for force to back up the rule of law, even to create the peace necessary for it to develop, at times. I used a vague term for the third leg intentionally. I want those who participate to paint their own portrait of just what this implies. The overall thrust must once again be, as The Founders struggled with, how much power over these items must government be granted?

I think I need help from TS’ers. Probably first is how this is described: labels are bad as we all agree. “Classifications”, “categories”, etc. are all too pedantic and scream “top down” with all the divide&conquer implications they deserve. “Parties” has been used and abused. I want a new word that evokes the concept of â€teams’, much like Tiger Teams in the working world. It implies voluntary association, as well as a direction and progress in a way the term â€focus group’ does not. Hmm, caucus is reasonable. What say you?

I grant TS the right to share my eMail address to any who wish to contribute off line.

As an aside, let me take a moment to proselytize on the 4-axis from Nolan’s ideas, and now adopted by the Rep. Liberty Caucus. It looks identical to the 4-quandrant scale used by the AfSG folks who picked up on Nolan’s ideas to start the 10-question, “World’s Smallest Political Quiz.” I was once vastly enamored of the idea, and the implementation. If this had some lasting affect, I missed it. Pity, since I think our 100-year experiment with the current party system has run its course.

Posted by: nanobrewer at March 29, 2009 12:52 AM
But Keith thinks:

Dagny and All: My apologies - as you can probably imagine, Sunday is a a busy workday for me, and I didn't have the opportunity to come back and participate in the conversation.

Out of respect for you, my gracious hosts, I'm going to not postjack ThreeSources and turn this into a theology blog. Instead, I'm going to invite you all to let me shift the venue for the faith part on this topic over to my turf here:

http://alhbible.wordpress.com

I hope y'all will forgive me the presumption, but I have taken the liberty of dedicating the thread to Dagny and JohnGalt, owing to it being their comments on this post and the "Virtue of Selfishness" post that prompted mine. The red carpet has been rolled out...

Posted by: Keith at March 30, 2009 5:35 PM

March 19, 2009

Whose House for Our Party?

WASHINGTON — Few supporters are answering President Barack Obama's call for nationwide house-party gatherings this weekend to build grass-roots support for his economic stimulus plan.

A McClatchy survey of sign-up rosters for a score of cities across the country revealed only 34 committed attendees in Tacoma, Wash., as of midafternoon Friday; in Fort Worth, Texas, only 54, and in Sacramento, Calif., just 78.


Man, I so totally forgot about that. I know all ThreeSourcers want to gather to build grass-roots support for the stimulus plan. Where are we meeting?

Hat-tip: Instapundit, who suggests the Tea Parties are doing better.

Posted by John Kranz at 1:47 PM | Comments (3)
But Boulder Refugee thinks:

That depends upon what your plan to stimulate us is.

Posted by: Boulder Refugee at March 19, 2009 3:58 PM
But jk thinks:

I was thinking of government cheese and Dom Perignon.

Posted by: jk at March 21, 2009 11:17 AM
But johngalt thinks:

In that case, I agree to host! All we need now is crackers.

Posted by: johngalt at March 21, 2009 7:15 PM

March 9, 2009

Why politicized economic development is dangerous

I recently wrote on the danger of politics driving scientific research. The obvious case of this now is all of the government "investments" being proposed in the name of "saving the planet from irreversible damage due to climate change."

But even if man-made climate change was real (sorry tg, is real) and even if "renewable" energy sources were beneficial to counter it, the least effective entity to make them a reality is - wait for it - government.

Consider the following essay on "One Reason Governments Spend So Much" from the 'Uncle Eric' book: Whatever Happened to Penny Candy?

Industries generally develop in three stages. First is scientific feasibility, second is engineering feasibility, and third is economic feasibility.

Using the airline industry as an example, the question in the 1800s was: "Is long-distance air travel possible?"

In the 1800s, balloons were already in use but were not practical. The problem to solve was the heavier-than-air machine.

The Wright Brothers in 1903 proved scientific feasibility. They risked their time, money and lives to show that a heavier-than-air machine could fly.

Lindbergh, in 1927, proved engineering feasibility. He risked time, money and his life to show that long-distance air travel was possible.

This gave investors enough confidence to risk their money in the aircraft industry. In 1935 the Douglas Company came out with the DC-3, which was the beginning of economic feasibility.

The modern airline industry resulted from all this risk-taking. Today, a middle-class American can go anywhere in the world much faster, and in much greater comfort, than a Roman emperor could. Travelers fly because the benefits are greater than the costs. This is economic feasibility.

This three-step model explains why governments are terrible at economic development. The "experts" who comprise the government gamble with other people's money, so they tend to confuse scientific and engineering feasibility with economic feasibility.

Once science and engineering prove something can be done, those who comprise the government will do it - even if the costs are greater than the benefits. [emphasis mine]

This economic development of the economically unfeasible is precisely the modern story of:

Wind power
Solar photovoltaic power
Ethanol (both glucosic AND celluosic)
Biodiesel
Hydrogen fuel cells
Dual-mode hybrid cars
The list goes on...

Posted by JohnGalt at 2:38 PM | Comments (6)
But Keith thinks:

Just to add to the entertainment value: "But even if man-made climate change were real..." is the grammatically accurate construction. Heh.

JohnGalt: great post, and the model of three-stage development makes plain, even to a poor, dumb country boy like me, why government-run economic development doesn't work. And to boot, it's much more elegant than me just saying "a government that can't even balance its own checkbook has no business fiddling with the economy."

I'd only propose one small change to the quote rfrom the essay. Where the author wrote "Once science and engineering prove something can be done, those who comprise the government will do it - even if the costs are greater than the benefits" in the last paragraph, it seems to me that the last phrase should omit the word "even" and the hyphen, thusly: "... those who comprise the government will do it if the costs are greater than the benefits." If the benefits are greater than the costs, entrepreneurs and private industry will do it, without the necessity of government meddling. Profit motive being what it is, and all that.

Ergo, government will ONLY do it if its benefits do not justify its costs, and that applies to every item in your list. QED, yes?

Posted by: Keith at March 9, 2009 3:18 PM
But jk thinks:

Ahh, the punchline from a great old gag can be trotted out:

I congratulate Keith on his use of the subjunctive.
Posted by: jk at March 9, 2009 4:32 PM
But Keith thinks:

Thanks, jk...

Say, on the subject of government and the economy, I've been reading in the news today that Warren Buffett has been quoted as saying the U.S. economy "fell off a cliff." I've read that three times today, and every time, all that comes to mind is...

"It was pushed."

Posted by: Keith at March 9, 2009 5:11 PM
But johngalt thinks:

Wellll, I was trying to have some fun with TG, saying "was" as in "past tense" ... before it was largely discredited, then replacing it with "is" as a sop to him since he's not yet comfortable with the "denier" badge of courage.

I admit - sometimes my jokes trip over their shoelaces.

Oh, and yes, I do fully agree with your improvement of the closing paragraph. Well done!

Posted by: johngalt at March 10, 2009 12:25 AM
But jk thinks:

Tough room, jg, you know that as well as anyone.

Posted by: jk at March 10, 2009 1:34 PM
But T. Greer thinks:

Eh, I though the post was funny. I also think you have highlighted one of the biggest problems with the Eco-stimulus crowd. What they call progress is in actuality a retardation (word?) of Western civilization.

Posted by: T. Greer at March 11, 2009 12:19 PM

March 6, 2009

Snubbing Our Friends

I have a Canadian co-worker... who finds it his place to tell Americans how to run their country. Fine, I guess, but telling Canada how to run their country is off limits.

Anyway... for eight long years he kvetched about how Canadians were offended that President Bush made his first phone call as President to the Mexican Prime Minister instead of the Canadian one.

I guess it was a big deal or something.

I'm still waiting for him to realize that President Obama called Hamas first, from the White House. Hamas. He called them. First.

So I'm saving that bomb for the opportune debate.

Continuing on... what is his deal with Great Britain?

First was shipping the bust of Winston Churchill back, then a photo-op snub with Prime Minister Brown... and now we find out about the Obama - Brown gift exchange.

Mr Brown's gifts included an ornamental desk pen holder made from the oak timbers of Victorian anti-slaver HMS Gannet, once named HMS President.

Mr Obama was so delighted he has already put it in pride of place in the Oval Office on the Resolute desk which was carved from timbers of Gannet's sister ship, HMS Resolute.

Another treasure given to the U.S. President was the framed commission for HMS Resolute, a vessel that came to symbolise Anglo-US peace when it was saved from ice packs by Americans and given to Queen Victoria.

Finally, Mr Brown gave a first edition set of the seven-volume classic biography of Churchill by Sir Martin Gilbert.


That's classy stuff, from the nation that gave birth to us AND still leads the world in class.

What did Mr President Obama give to the Browns?

Twenty five DVDs of America's greatest films.

DV-f'ing-Ds.

Really.

They also gave the Prime Minister's children models of Marine One.

Embarassing. Did they even think about this? There's no one in the White House qualified to tell the President and his family that those gifts are kind of lame?

Sounds like they are amatuers.

(tip to Ace of Spades)

Posted by AlexC at 12:03 AM | Comments (5)
But johngalt thinks:

Only one more in a long list of reasons the new president is an embarassment to America. There should be a Vegas line on who gets fed up with Obama first - American liberals or the "world opinion" he was supposed to restore America's favor with.

Wonder if he got the DVDs at Costco.

Posted by: johngalt at March 6, 2009 2:09 AM
But Perry Eidelbus thinks:

Don't feel embarrassed, guys. Seriously. You dind't vote for him, right? You didn't put him in power, so whatever he does does NOT reflect on you. His lack of taste reflects poorly on those who still support him, but we can still hold our heads up high.

In return for that beautiful first edition of the Churchill biography, Obama could have given an autographed copy of something by...Ward Churchill! And a defused pipe bomb, autographed by Bill Ayers?

Posted by: Perry Eidelbus at March 6, 2009 1:34 PM
But Boulder Refugee thinks:

Sorry, PE - as an American, I am embarrassed for having a president with so little class. On the plus side, the reaction of the British press is pretty entertaining.

Posted by: Boulder Refugee at March 6, 2009 5:05 PM
But T. Greer thinks:

Eh, this is one of those screw ups all Presidents have. Yes, it was tactless, but I doubt it will have any permanent damage.

On the other hand, *insert shamless self-promoting link*, the way Obama has gone about treating our Eastern European allies looks like it might have some actual dangerous consquences.

Posted by: T. Greer at March 7, 2009 10:09 PM
But Perry Eidelbus thinks:

To reiterate, it's not our fault he's in the White House. So indeed we have every right to say, "We told you so!" I simply refuse to feel the least bit ashamed about someone who hardly "represents" me.

Yes, TG, what's truly dangerous is Obama cozying up to Putin's puppet and others. They knew from the day he announced his campaign that he'd be weak. They knew, and 69 million Americans either didn't know or were willfully blind. We're returning to the Carter doctrine of playing nice and praying for the best.

Posted by: Perry Eidelbus at March 9, 2009 12:27 AM

March 3, 2009

Going John Galt

One of my new favorite reads, Citizen Paine, looks at going John Galt.

Don’t get me wrong here - I am NOT in favor of tax increases, and I do generally believe that higher taxes will discourage the thing being taxed. But in the case of income, when we’re talking about highly successful and motivated people, it just doesn’t make sense for someone to “drop out” and stop working when their business earns $250K due to higher marginal tax rates.

Dammit. I was hoping to take off October through the end of December. ;)

Read it all.

Posted by AlexC at 3:21 PM | Comments (7)
But Keith thinks:

I'm not certain I agree with the quoted paragraph. Prior to the Kennedy cut in the marginal tax rates, didn't a significant number of producers effectively withhold further productivity once they hit the top strata - and then after the cut to rates, cease withholding that productivity, resulting in greater earnings and thereby greater tax revenue? Was not that withholding of productivity effectively a John Galt strategy?

One thing I've done is to aggressively make more of my spending tax-deductible - while not curtailing my productivity, I've gotten serious about doing my share to starve out the IRS beast. Part of my house, some of my mileage, my entire cellular telephone bill, and my vacation in Costa Rica with my wife, were all tax deductions for me last year.

By the way, the notion that Citizen Payne uses in that article, that the tax increase Obama is implementing is modest and not sufficient to justify going Galt, doesn't work for me. First, I think he underestimates the size of the increased burden on the producers, and second, the Tea Tax was not all that onerous. I'd be interested in seeing just how great a share of income the tax burden was on our colonial forebears.

Posted by: Keith at March 3, 2009 4:13 PM
But johngalt thinks:

"Pay no attention to that man behind the curtain. Instead, focus on what I'm doing to the income tax rates. See, everyone under 200K gets a tax cut!" - The Great Houbama

Meanwhile, watch how he empties your wallet:

Corporate Taxes Wherein the average taxpayer has an extra $3190 tax burden each year.
UPDATE - 3/07/09: Fixed broken link
Carbon Taxes Wherein aforementioned corporate taxes skyrocket.

Social Security Taxes Whereby workers earning over $95K per year join together to pay the first $400 of FICA tax for every worker earning less than $75K - year after year after year...

(Please do not mistake this ad-hoc collection as an exhaustive list of new Obamatax schemes.)

Posted by: johngalt at March 3, 2009 5:33 PM
But jk thinks:

DOGPILE!!! Yeah, I am skeptical as well. I'd underscore Perry's observation that economics happens at the margins. Look at the housing calamity when most Americans are staying put, paying their bills, and generally doing exactly what they'd be doing were housing 10% less or 25% more.

If you're a fatcat Democratic lobbyist and you can add $110,000 of income by turning the red knob on your desk from 2 to 2.5, then the increase in take-home pay looks pretty good.

But if you are going to add a shift, hire more staff, purchase machinery, work significantly more hours, increase debt -- all without any guarantee of success, the difference between an extra 70K or 60K might weigh in on your decision. And what happens next year? What is my state going to do to continue the new post-stimulus baseline spending?

At the margins, marginal rates will certainly influence behavior. Just because every $300K lawyer doesn't hang it up to become a freegan (stop chortling. tg!) does not mean that productivity was not negatively impacted.

Posted by: jk at March 3, 2009 5:56 PM
But sugarchuck thinks:

"it doesn't make sense for someone to drop out and stop working when their business earns $250K due to higher marginal tax rates" my ass. I was talking to a close family member last night who works as a physician at a high profile medical facility in Minnesota and as she sees it, it doesn't make sense not to drop out. Currently she sees patients, conducts research, and serves as Vice Chair of her dept.. There is no question that she is highly motivated and and an extremely dedicated, productive member of her community and she's nobody's fool. By cutting back to part time and reducing her salary she can avoid higher taxes, and keep her take home pay at close to the level it is now. What she loses by doing less is more than made up for by the extra time she will have with her family and the opportunity to pursue more personally fulfilling goals. What is lost? Her facility loses out on the patients she would have seen. They will have to been seen by others who may not be very willing to pick up the added burden or they will be lost to another institution; good-bye revenue. Patients that would have benefited from her experience in the long term management of a terminal illness will also lose out.

Just as the tax rates are on the "margins", so too will the lack of productivity be on the margins. You can't fault my relative. As she puts it, " I'll be damned if I'm going to work 60-100 hours a week and give it to Obama." And you can bet she's not the only one doing the math on this. You don't have to close your shop and move to the islands to drop out, as Citizen Paine might suggest. You can drop out by making your effort coincide with the returns. Do less, invest less, risk less.

Tax effort, ambition, ingenuity and hard work and you will have less effort, ambition, ingenuity and hard work. Welcome to the Obamanation!

Posted by: sugarchuck at March 4, 2009 9:15 AM
But jk thinks:

Tell her to hang in there, sc, I believe President Obama is going to fix the health care system as well.

Posted by: jk at March 4, 2009 12:46 PM
But johngalt thinks:

A brother suggests - via email - that I mightn't have been persuasive enough with my "everyone's taxes are goin' up no matter what the tax tables say" message. ;) So...

Anyone around here remember this pre-election posting?

Also, as I pondered yesterday's comment this morning I realized I didn't give as much attention to the first link as I'd intended. It is a 60-second radio spot telling people how much corporate income taxes cost individual families and there's a 30-second companion TV spot. They're excellent.

Posted by: johngalt at March 4, 2009 2:56 PM

2,000 Words, at least

Well, to be fair, it is two pictures.

So very sad. So very funny.

Posted by John Kranz at 12:38 PM | Comments (0)

March 2, 2009

Obama Tax Collection Strategy: Brilliant!

With the string of tax cheats nominated to key positions in the Obama administration, most recently Ron Kirk, the Machiavellians among us believe that he is having difficultly finding prominant Democrats who are not tax cheats. But The Refugee now understands that Obama's nominations are actually an incredibly clever ruse to enhance government revenue. He simply finds a Democrat who failed to pay his/her taxes, nominates said person to an important post and - voila! - a check arrives at the IRS. Brilliant! The Refugee is worried, however that Obama will run out of positions before he runs out of Democrats.

Posted by Boulder Refugee at 6:49 PM | Comments (6)
But Keith thinks:

I have to confess I was transported to a happy place when I envisioned America running out of Democrats. Refugee, did you mean that in the French Revolution sense, or the Soylent Green sense?

When that happens, do we move on to the RINOs?

Posted by: Keith at March 3, 2009 11:25 AM
But Boulder Refugee thinks:

Keith: This is actually an extension of PayGo. The nominee has to owe enough in back taxes to cover his/her salary for at least one year. Obama understands that he has a gold mine buried among Democrat tax dodgers. Surely we can all stand in awe of magnificence of this plan. It's his secret weapon to cut the deficit in half by 2012.

Posted by: Boulder Refugee at March 3, 2009 11:59 AM
But Boulder Refugee thinks:

And one other thing: Can we all agree, that based on Joe Biden's criteria, this is the least patriotic administration in history?

Posted by: Boulder Refugee at March 3, 2009 12:01 PM
But Keith thinks:

I totally forgot that Biden equated paying higher taxes with patriotism. Why, yes, you're right, that would make this the least patriotic administration in history.

Would you in turn grant me that Joe Biden is probably the greatest insurance policy against impeachment in history?

Posted by: Keith at March 3, 2009 12:09 PM
But Boulder Refugee thinks:

Keith, please warn a guy before you lay out one of those lines. The Refugee nearly spit a large swig of Cafe Mocha all over his laptop!

Posted by: Boulder Refugee at March 3, 2009 1:02 PM
But Keith thinks:

Refugee: like Phil Vassar says: "I'll take that as a yes."

Posted by: Keith at March 3, 2009 4:20 PM

March 1, 2009

Debt Up To Our Eyeballs

This is not good.

From Senator Tom Coburn's twitter:

new debt proposed by Administration's budget is larger than the total amount of debt accumulated by the government from 1789 to today

Just remember that the Democrats ran on a fiscal responsibility platform, calling President Clinton's surpluses a good thing (tm).

Well, not so much anymore.

(h/t Snowflakes in Hell)

Posted by AlexC at 1:41 PM | Comments (0)

February 28, 2009

Sermonizin'

In a recently indulged comment by blog brother Keith he shared a recent Sunday Sermon entitled 'Obama is a Ruler of Biblical Dimensions!' The story of Pharaoh's Egypt is an excellent analogy to current events. But why are so many Americans, citizens of the greatest nation on earth, prepared to repeat this act of self-enslavement? I can best answer that with a sermon on 'Man's Rights' by Ayn Rand.

How many times have you heard it said that "health care is a right" or that "every American has a right to a decent job with a living wage?" Just last week an ACORN spokesman said that "housing is a right." [5:50] Those who hold these beliefs are willing to trade their political rights, or liberty, for economic "rights" - and expect the rest of us to do the same. Ayn Rand saw this in April of 1963:

Such is the state of one of today’s most crucial issues: political rights versus “economic rights.” It’s either-or. One destroys the other. But there are, in fact, no “economic rights,” no “collective rights,” no “public-interest rights.” The term “individual rights” is a redundancy: there is no other kind of rights and no one else to possess them.

But where did these ideas come from in modern America? According to Rand, first with FDR and then institutionalized in the Democratic Party Platform of 1960. (Click 'continue reading' to see the list.) Then she explains, "A single question added to each of the above eight clauses would make the issue clear: At whose expense?"

America has been "progressing" toward this point for my entire life. Since the "baby boom" generation American children have been raised with this altruist-collectivist ethic. Said Rand:

America’s inner contradiction was the altruist-collectivist ethics. Altruism is incompatible with freedom, with capitalism and with individual rights. One cannot combine the pursuit of happiness with the moral status of a sacrificial animal.

It was the concept of individual rights that had given birth to a free society. It was with the destruction of individual rights that the destruction of freedom had to begin.

Don't think America's founders were blind to this possibility.

The government was set to protect man from criminals—and the Constitution was written to protect man from the government. The Bill of Rights was not directed against private citizens, but against the government—as an explicit declaration that individual rights supersede any public or social power.

But this reliance upon rights to protect man from government was able to be undermined by dispute over the origin of those rights. And this is where I depart from brother Keith - when it comes to his closing prayer.

The concept of individual rights is so new in human history that most men have not grasped it fully to this day. In accordance with the two theories of ethics, the mystical or the social, some men assert that rights are a gift of God—others, that rights are a gift of society. But, in fact, the source of rights is man’s nature.

So those who believe rights are bestowed on man by his society have merely to deny the existence of God to disarm those who hold the opposing theory. Until Americans learn the true nature of rights - individual right to life and property as a birthright and a natural consequence of the nature of his being - our civil order will always be threatened by the specter of tyranny.

“The source of man’s rights is not divine law or congressional law, but the law of identity. A is A—and Man is Man. Rights are conditions of existence required by man’s nature for his proper survival. If man is to live on earth, it is right for him to use his mind, it is right to act on his own free judgment, it is right to work for his values and to keep the product of his work. If life on earth is his purpose, he has a right to live as a rational being: nature forbids him the irrational.” (Atlas Shrugged)
Bear clearly in mind the meaning of the concept of “rights” when you read the list which the platform offers:

“1. The right to a useful and remunerative job in the industries or shops or farms or mines of the nation.

“2. The right to earn enough to provide adequate food and clothing and recreation.

“3. The right of every farmer to raise and sell his products at a return which will give him and his family a decent living.

“4. The right of every businessman, large and small, to trade in an atmosphere of freedom from unfair competition and domination by monopolies at home and abroad.

“5. The right of every family to a decent home.

“6. The right to adequate medical care and the opportunity to achieve and enjoy good health.

“7. The right to adequate protection from the economic fears of old age, sickness, accidents and unemployment.

“8. The right to a good education.”

A single question added to each of the above eight clauses would make the issue clear: At whose expense?


Posted by JohnGalt at 7:51 PM | Comments (7)
But Keith thinks:

And isn't it amazing that ThreeSources allows this exchange of viewpoints without the need for a federally-imposed Fairness Doctrine?

I have always been a great admirer of Rand, having discovered her early in life. I was introduced to her in the seventh grade with "Anthem," and recognized immediately that she "gets it" in ways that no one else did. That being said, now being just short of forty years distant from my discovery of Rand, I've grown into an amazement that she could come to her views without theism.

You were all pleasantly surprised when I identified myself as a pastor who agreed in large part with Rand. But that should come as no surprise; short of her views of the existence of God, Rand's Objectivism in practice is very consistent with genuine Biblical Christianity - in practice.

I am right there with Rand and JG, right up until the quoted paragraph that starts with "The concept of individual rights is no new..." I'd propose that individual rights and responsibilities go all the way back to Creation. That paragraph states that there had been two schools of thought on man's rights: the mystical (that rights originate as a quality from the transcendent Divine) and the social (that rights originate from the collective or the State). She proposes a third: that rights derive from man's intrinsic nature. Yes, I'm fine with that, but she needs to explain that. How did Man get to be Man with those rights, and animals, which must have evolved from the same primordial goo, not?

I would give serious consideration to Samuel Rutherford's "Lex Rex," which is the foundation in Western thought for individual rights and the rule of law. Locke drew very heavily from Rutherford, and I daresay the American Revolution, without Rutherford's influence, would have taken a very different form.

At the risk of running afoul of the automated comment police again, I'd recommend this think for a more full discussion of the Biblical role of government:

http://alhbible.wordpress.com/2008/11/19/the-other-side-of-romans-13/

Posted by: Keith at March 1, 2009 11:35 AM
But johngalt thinks:

Keith: The problem with excerpting Rand is it's easy to leave out important points. First a clarification, however: I'm confident Rand agreed with your assertion that "individual rights and responsibilities go all the way back to Creation." Rand's point was that this concept is new.

Rand's next paragraph gives the explanation you seek:

The Declaration of Independence stated that men "are endowed by their Creator with certain unalienable rights." Whether one believes that man is the product of a Creator or of nature, the issue of man's origin does not alter the fact that he is an entity of a specific kind - a rational being - that he cannot function successfully under coercion, and that rights are a necessary condition of his particular mode of survival.

The difference between man and animals is that, regardless of the dispute over their origins, man IS rational and animals are NOT.

As for your equation of Objectivism and "genuine Biblical Christianity" - "in practice" I will ask you this: Does altruism have any place in "genuine" Biblical Christianity? For this is where modern Christianity breaks down, in practice.

Posted by: johngalt at March 1, 2009 12:58 PM
But T. Greer thinks:

JG, quick question for you (or any Objectivist reading):

If rationality is the determinate of individual rights, what do you with the externalities? Does the mentally insane, the comatose, or the newborn babe have rights? Indeed, many an animal-rights activist has used these examples of these reasonless humans to claim that all vertebrates should receive rights equal to those recognized in humankind. Do you have a response to such arguments?

Posted by: T. Greer at March 1, 2009 5:00 PM
But Keith thinks:

JG: I'm still with you on that - and forgive me if I try to choose my words carefully; I try to never forget that when I'm at ThreeSources, I'm a guest in the house of people I respect, where I try to abide by their rules and not give offense (though I confess with a twinkle in my eye that I have tested that a little). I know that in matters of religion, it's not the theme of this blog, and if my hosts were to say "we're not going there," I'd shut up on the subject. Your house, your rules.

Most followers of Rand I've talked with focus on her firm atheism in these matters, which is why I've raised the hackles of some of my peers by citing Rand. But I've always read Rand's criticisms of religion in terms of her opposition to the dominant liberal Church in America - that of what we often call "mainline Protestantism" within Christian circles. By this we mean the modernist school typified by Harry Emerson Fosdick and leading through the twentieth century with the social-gospel movement, ultimately to the post-moderns and the Emerging/Emergent Church Movement of people like Brian McLaren, Tony Campolo, and Rob Bell in our decade. This stream tends to be on the left side of American politics, with the sense that the purpose of the Gospel is to cure injustices in this life, redistribute wealth, direct government to solve people's problems, and manufacture Heaven on Earth.

I know I risk making your eyes glaze over. To make things easier, here are some parallels: in my theological circle, we see people like Machen, Spurgeon, Schaeffer and Mohler exactly the way you see Hayek, von Mises, Friedman and Rand. We see the theological liberals the same way you see Keynesians. It's not a perfect parallel, but it gives you a frame of reference.

Most people I've known who have read Rand thought she simply lumped all religionists together, but I've never been completely sold on that. She had no patience with the American mainstream left, which had already in her day become collectivist and statist (think Jimmy Carter here and imagine the comtempt she would have had for him).

By "genuine Biblical Christianity" (and I realize you don't mean the quote marks derisively), I'll use a better label: substitute here "Reformed theology" with its reliance on the five solas, and here I deliberately mean sola Scriptura. To answer your question, altruism as Rand used it - an ingrained obligation to act to one's own detriment to the betterment of another - has very little place in Reformed theology. I could cite numerous references in which this stream within Christianity puts massive emphasis on the individual, almost to the point of "rugged individualism;" duty to self primary over duty to others; and even emphasis on competition and individual excellence.

I'll end with this, rather than hijack the thread: within the Reformed mindset, charitable giving is always voluntary, and never viewed in the sense of an obligation one owes to the collective or one's fellow man. Rather, it is an act of undeserved and unmerited grace toward the recipient, with an eye toward making the recipient responsible for his condition going forward. The early Church, operating as a community-within-a-community of voluntary cooperation and mutual benefit, probably resembled Galt's Gulch as much as any other example one might name, without separating itself from the rest of surrounding society.

On that note, I'll stop, and await any guidance on where we might go with this, as well as the answer to T. Greer's intriguing question. Thanks for your patience, all -

Posted by: Keith at March 1, 2009 6:42 PM
But jk thinks:

Good stuff, gentlemen.

Quick point of order -- Keith, you are a very welcome guest, no need to pull back, we're pretty thick of skin.

Also, I do not consider ThreeSources an Athiest or even Objectivist blog. I am proud and happy that we have some bright and principled folks of that stripe, but we also have a devout Catholic in AlexC. We are united by belief in freedom and individual rights, not belief in belief.

I was raised Catholic. While I have chosen a little more Randian path,I laughed at your surprise that I referenced parables. I'm rather a fan of the text and am extremely comfortable with religion and the religious.

I'll put words in Johngalt's mouth. A person who wants to use reason to engage is pretty welcome to express his or her opinions strongly as he or she wants around here. (Until the Fairness Doctrine is signed in the Rose Garden.)

Posted by: jk at March 1, 2009 11:55 PM
But johngalt thinks:

Not just pretty welcome, jk... completely welcome. If he uses reason.

TG: The answer to your question is that all humans have rights. (Even unborn ones, but that's another topic.) I can, and will if you ask, find where Rand explained this in her own words but I won't try to explain it myself because I'd likely confuse the matter.

Keith: I'll tell you up front where I'm trying to take this thread: To illustrate that belief in God (I call him "NED") and the philosophy of Objectivism can coexist. But belief in God or, in shorthand, "religion" is a package deal. I appreciate your explanation of the leftist elements in religious belief and that they differ from your, and what I would call "traditional" Christian belief. But without even refreshing my memory of Rand writings I can point out a single - extremely consequential - flaw in your argument that Christian charity is based on purely voluntary giving by self-sufficient - we call them "selfish" - individuals. It is this flaw that I contend has and will always be used by theologians to highjack rights from individuals. You wrote:

"Rather, it [charitable giving] is an act of undeserved and unmerited grace toward the recipient, with an eye toward making the recipient responsible for his condition going forward."

The problem here is "unmerited" or "undeserved." If charity is truly voluntary then the individual is free to make a judgement whether the recipient is worthy of his aid. Without that all important individual judgement all we are left with is the hammer and sickle. But then, Christianity forbids us to judge others for we are all "guilty" ourselves, right? Original sin. Rand called this "unearned guilt" and it is a principal weapon of the left.

You made analogy to Galt's Gulch. Remember what John Galt said: "I am the man who loves his life. I am the man who does not sacrifice his love or his values." ... "I will not sacrifice myself for others, nor ask another to sacrifice himself for me."

Beware of everything you read regarding Objectivism that isn't in Rand's own hand. I remember searching for any reference where she said she is an atheist. The most direct answer I could find was in the 1964 Playboy interview where having been asked if she believe's in God she answered, "Certainly not." It is an excellent interview and I highly suggest it to anyone who wants an introduction to Rand.

Let me close with just one last excerpt from that interview:

PLAYBOY: Has no religion, in your estimation, ever offered anything of constructive value to human life?

RAND: Qua religion, no -- in the sense of blind belief, belief unsupported by, or contrary to, the facts of reality and the conclusions of reason. Faith, as such, is extremely detrimental to human life: it is the negation of reason. But you must remember that religion is an early form of philosophy, that the first attempts to explain the universe, to give a coherent frame of reference to man's life and a code of moral values, were made by religion, before men graduated or developed enough to have philosophy. And, as philosophies, some religions have very valuable moral points. They may have a good influence or proper principles to inculcate, but in a very contradictory context and, on a very -- how should I say it? -- dangerous or malevolent base: on the ground of faith.


Posted by: johngalt at March 2, 2009 1:36 PM

February 27, 2009

Tea Party/Producers Strike Today

Despite every intention to be there a forgotten pediatrician's appointment for my eldest made it impossible for me to get firsthand photos and video of the Obama Tea Party in Denver today. There's one shot posted in Michelle Malkin's coverage here. I'm impressed by the breadth of this event with good representation in not just Chicago but San Diego, North Carolina, Oklahoma City, Nashville, Portland, Alabama, Lansing, Cleveland, Houston, Atlanta, Tampa, Orlando, Austin, Hartford, and Washington D.C, courtesy of John Lilyea at 'This Ain't Hell.'

The list is even longer according to TCOT Report, which also has more photos and coverage.

UPDATE - 2-28-2009: Many more Denver photos and stories can be found at Slapstick Politics via El Presidente and at People's Press Collective by Zombiehunter (with photos), Ben and Mr. Bob.

My friend Russ was featured in several photos with his unique John Galt sign.

Other than that my favorite sign slogans are:

FREE MARKETS NOT FREELOADERS

Your Wallet Is The Only Place The Democrats Want To Drill!

and

One
Big
A**
Mistake
America!

teapartydates3.jpg

Posted by JohnGalt at 4:41 PM | Comments (1)
But Russ Shurts thinks:

This is Russ Shurts, Eric's friend with the 'John Galt' sign. Follows are my impressions of the event. There were about 200 people there, mostly Republicans but with a sprinkling of Libertarians and other assorted types. They were all very concerned/unhappy about the current state of affairs in this country and wanting to put a stop to the march towards socialism we are currently on. I was very pleased that the first speaker was a woman who sang the national anthem and then spent her first 5 to 10 minutes giving a brief biography of Ayn Rand and then discussing how much Atlas Shrugged so very much describes the situation we are finding ourselves in right now. I was not pleased (though not surprised) that the vast majority of the people attending truly did not understand Ayn Rand’s basic philosophy/message, nor the fact that because of this lack of understanding they would consistently undercut the positions they were supposedly advocating by the things that they said.

The people attending were uniformly polite, not angry or overly demonstrative. In fact one of the speakers, Jon Caldara who fills in for Mike Rosen on KOA, started his speech by commenting that he figured most everyone there was very uncomfortable about doing such a thing because they were typically the type of people who would not even be inclined to disagree with let alone protest established authority. Most everyone I saw was nodding in agreement when he said this.

I’m not sure it made even the smallest dent in the problem we are currently facing, but as my friend Randall Laff said in inviting me to attend with him, “We have to do something.” And he is quite right. We are rapidly losing this country and the freedom that always came with it. If something isn’t done soon, it will not be a fitting place for human habitation.

Posted by: Russ Shurts at February 28, 2009 3:14 PM

February 26, 2009

"Assault" Weapons Ban Pending

We have a rapidly degenerating third-world state on our southern border.

So what does President Obama plan to do to help? (and stem a massive refugee flood)

Gun bans.

In Our Country.

"As President Obama indicated during the campaign, there are just a few gun-related changes that we would like to make, and among them would be to reinstitute the ban on the sale of assault weapons," Holder told reporters.

Holder said that putting the ban back in place would not only be a positive move by the United States, it would help cut down on the flow of guns going across the border into Mexico, which is struggling with heavy violence among drug cartels along the border.

"I think that will have a positive impact in Mexico, at a minimum." Holder said at a news conference on the arrest of more than 700 people in a drug enforcement crackdown on Mexican drug cartels operating in the U.S.


The US government has a hell of time keeping illegal Mexicans OUT of our country, so they plan on keeping guns OUT of their country.

That will work.

The Assault Weapons Ban signed into law by President Clinton in 1994 banned 19 types of semi-automatic military-style guns and ammunition clips with more than 10 rounds.

"A semi-automatic is a quintessential self-defense firearm owned by American citizens in this country," LaPierre said. "I think it is clearly covered under Heller and it's clearly, I think, protected by the Constitution."

Posted by AlexC at 1:45 PM | Comments (2)
But Perry Eidelbus thinks:

This article doesn't, but a linked article mentions what I had heard last night: part of the arrests include the seizure of 169 weapons. A whole 169 weapons for over 700 people. Not firearms, but weapons. Therefore not just guns, but switchblades and anything else deemed usable as a weapon.

And Leonhart said that in addition to ramped up pressure on the cartels, the streets have felt the pinch: "The price of cocaine, in 24 months, has increased 104 percent, while the purity has decreased 34.8 percent."
Of course, and the high price invites more competition, leading to escalations in the drug gang wars that are the primary violence already.

Posted by: Perry Eidelbus at February 26, 2009 2:06 PM
But Boulder Refugee thinks:

If Social Security is the "third rail" for Republican politicians, then gun control is the third rail for Democrats. It is widely believed that this issue sank Al Gore in Tennessee in 2000 (a win there would have made Florida irrelevent).

Blog Bro JK is fond of Ned-blessing the Blue Dogs, so here's to 'em; they may be our only chance of defeating gun control. Hopefully, gun owners will wake up and realize that "hope and change" is no substitute for "lock and load."

Posted by: Boulder Refugee at February 26, 2009 3:07 PM

Obama Tea Party 2.27.09

American producers will stage the first of many real-life strikes tomorrow.

1a1teaparty.jpg

Find one near you.

Posted by JohnGalt at 12:00 PM | Comments (2)
But AlexC thinks:

Is anyone actually going to "not pay taxes"?

I mean, it's great to stand around and talk to other conservatives and low-tax types, but that's all it is.

Stop paying taxes?

Let's have THOSE parties.

Posted by: AlexC at February 26, 2009 2:21 PM
But johngalt thinks:

Amen.

Outrage is growing by the week so what you're suggesting (and I've considered over the last 3 months) is possible before year's end.

Posted by: johngalt at February 26, 2009 4:31 PM

February 22, 2009

"Where's their answer to this?"

A number of ideas over the past weeks have come together for me this morning-

In response to the letter I sent to my Senators opposing H.R. 1 a beloved cousin emailed me, "I’m not saying I disagree or agree with you when I ask this question…. But what would you suggest? I don’t really know what the right answer is at this point…"

The first line of my reply to her was, "Well, on numerous occasions in the past we've cut tax rates in an attempt to spur economic growth and every time that's been done the economy improved and net tax receipts increased, despite the lower rate of taxation."

Then the shamulus bill passed and a number of Republican governors, upon seeing the fine print, began suggesting they'd refuse the federal handouts. "Republican governors, as the last bastion of capitalist political power in this country, should implement a capitalist plan for job creation - eliminate the corporate income tax" I thought. By doing this in one or more states there would be a side-by-side comparison of capitalism versus government bailouts that would be difficult to ignore on the key statistics of job growth and state GDP growth.

But I wondered which states have a Republican governor AND a corporate income tax that could be axed?

This morning Tim Pawlenty and Mark Sanford appeared on Fox News Sunday with Ed Rendell and Jennifer Granholm to discuss the "stimulus" bill. Among other things, Sanford called The Big O's foreclosure plan "a horrible idea." Last week Sanford suggested that his state might "turn down stimulus money" from the feds. In that L.A. Times story real estate agent Joyce Rivas claimed to have voted for Sanford twice but was angered by his "threat." Rivas asked, "For starters, where's their answer to this?"

In a quick search I found that Governor Sanford proposed, last December, elimination of the 5% South Carolina corporate income tax.

Lawmakers and observers said eliminating corporate income tax is an interesting idea, but want to hear more details.

(...)

South Carolina could join four other states, Nevada, South Dakota, Washington and Wyoming, with no corporate income tax, Sanford said. South Carolina collects about $300 million in corporate income taxes annually, far less than sales and individual income tax collections.

“We’ve got to get away from this piecemeal approach to jobs incentives,” Sanford said in a written statement. “We believe a better approach would be to simply lower the overall tax rate for corporations, so that we’re not only giving companies a good deal when they decide to locate here but we’re giving them a reason to stay and expand.”

There you are, Ms. Rivas. That is our answer.

For reference: Tax Foundation's 'State Business Tax Climate Index Rankings' Maryland... ouch!

Posted by JohnGalt at 3:22 PM | Comments (3)
But jk thinks:

I watched that show as well. Let me just say "Sanford for God!!!"

I have heard for years about how impressive (and telegenic) Governor Granholm is. "Don't amend the Constitution for President Aahnold," they said, "it will backfire and you'll get Democratic President Granholm." Watching her today, I don't think either of them should start measuring drapes. (For the record, I would support an amendment allowing a naturalized citizen to be President and for the record my naturalized-citizen wife would not. There you go.)

You can see where these former industrial giants of states get the "former" though I confess to liking Gov. Rendell's style. Gov. Granholm will gladly take her money and South Carolina's and yours and yours and yours and yours.


Posted by: jk at February 22, 2009 6:57 PM
But jk thinks:

...and another thing!

This humble little blog has mentioned several things that would be wildly more effective and far more conducive to liberty. Holidays on cap-gains taxes, elimination of the corporate cap gains tax, increased immigration and the payroll tax holiday would all be wildly stimulative. None would grow government's size and influence.

Posted by: jk at February 22, 2009 7:19 PM
But johngalt thinks:

...but whadda WE know. We're just "the people."

Posted by: johngalt at February 22, 2009 11:31 PM

February 20, 2009

Shovel-Ready

Awesome.

shovel-ready

Posted by AlexC at 1:40 PM | Comments (0)

21st Century Paul Revere

I'm dubbing CNBC's Rick Santelli the Paul Revere of the 21st Century, and his clarion call is "The looters are coming! The looters are coming!"

Video here (You gotta see this!)

"Cuba used to have mansions and a relatively decent economy. They moved from the individual to the collective. Now they're drivin' '54 Chevys. Maybe the last great car to come out of Detroit."

(...)

"They're [floor traders on the Chicago Mercantile Exchange] pretty much of the notion that you can't buy your way to prosperity. And if the multiplier that all of these Washington economists are selling us is over one then we never have to worry about the economy again. The government should spend a trillion dollars an hour because we'll get 1.5 trillion back.

(...)

"If you read our founding fathers, people like Benjamin Franklin and Jefferson, what we're doing in this country now are just making them roll over in their graves."

The division is not over race, as AG Holder claimed, but over productivity. The "racism" charge is now merely a distraction. The new administration has contempt for anyone who can earn his own living through industriousness and productive effort. Instead they confiscate wealth from producers and lavish handouts upon the lazy and the corrupt. They are, in the truest sense of the term, looters. And they control the levers of power in the administrative branch of our government. We're about to see if the "separation of powers" model can withstand their assault on the Constitution.

Posted by JohnGalt at 1:08 PM | Comments (4)
But jk thinks:

Palin-Santelli 2012!

Posted by: jk at February 20, 2009 1:54 PM
But T. Greer thinks:

Here's another smackdown worth looking at.

Posted by: T. Greer at February 21, 2009 12:52 AM
But jk thinks:

Good one, tg. And by good I mean, of course, very bad. I love the line "...the Ebenezer Scrooge - Rick Santelli plan where we just let these people rot."

I think Chris Matthews is proof that the media rots your mind far worse than politics. He worked with Tip O'Neill and the leading lights of the Democratic party his whole life and came out well-reasoned, polite and practical. Ten years on MSNBC and he became a raving, frothing, hyper-partisan lunatic.

Sorry for the strong words but I'll stand by the comparison. A politician or advisor has to deal with opposition. Once you get your own show you are the law.

Posted by: jk at February 21, 2009 11:48 AM
But T. Greer thinks:

I love this guy. I have spent the last hour viewing youtube clips of the man, and I really think somone needs to make a Sentelli youtube channel.

Here are my favorites:


*Santelli Reams Liesman for Defending Bernake

*Rick Santelli on Market Intervension


*Santelli pissed off about the bailout

And yes, Chris Matthews is ridiculous. But honestly speaking, I think Santelli was the one who came off better there. For one, he never had to resort to asking who the other guy voted for.

Posted by: T. Greer at February 21, 2009 8:29 PM

White Man, Black Man, Talk About Race

Two days ago Eric Holder called America "a nation of cowards." AlexC captured the key point of the U.S. Attorney General's speech. Specifically, "...average Americans, simply do not talk enough with each other about race."

But these two average Americans have no compunction whatsoever discussing racial issues. Watch:

Neither of them looks particularly like a coward to me. Well, that 2nd white guy maybe...

Posted by JohnGalt at 12:44 PM | Comments (0)

February 19, 2009

Gaming the Housing Plan

Tyler Cowen at Marginal Revolution wonders:

3. We should not be helping people stay in their homes if their mortgage payments are at 43 percent of their income. (The bill requires banks, in such cases, to lower interest rates until monthly payments are at 38 percent of income. The government then steps in to lower payments to 31 percent of income.) I don't feel moral outrage (although it is morally outrageous), I just don't think it is a good use of money. I also wonder how it works when your income is quite variable year to year. Are they sure there is no way to game this?

I'm no super smart business analyst or accountant, but here's how I would game this program.

It's not clear though if the "magic percentage" payments are pre or post tax.

I'm sole proprietor of my company, doing contract work.

For the sake of round-ish numbers, I make about $100,000 per year. My mortgage is $1666 / month, or $20,000 / year. 20% of my pre-tax income goes towards my home. Naturally, I pay taxes (patriotism and all), so it really becomes (assuming some deductions etc) $75,000 net, or 26% of my income toward my home.

If I incorporate my company, I could pay myself say $50,000 a year, taxed at something like 15 to 20%. Now my $20,000 / year mortgage payment becomes a more respectable 40% pre-tax or possibly approaching 50% after taxes.

Clearly, I would qualify for "help." The issue remains, however, on dealing with the other $50,000 I have made. S-Corps can't have money in the bank at the end of the year, and must pay it out as a dividend... at 15% at the end of the year.

C-Corps can, but they get hit with corporate taxes.

Again, I'm not a tax attorney or accountant, but I can easily see this system being gamed.

Easily... and perfectly legally.

Posted by AlexC at 12:51 PM | Comments (8)
But Boulder Refugee thinks:

Moral outrage and all that aside, this is a false economy. First of all, if you're a sole proprietor, then chances are you're an LLC. To be an S-corp or C-corp you must have at least three shareholders (two shareholders is a partnership). As an LLC, all gains/loss from business operations flow to your personal income tax whether your pay them to yourself or not. Obviously, the objective is to take as many beneficial business deductions as revenue and the law permit and to break even every year.

No sensible person would take a $50K hit in income to get a $7K housing subsidy. It's like taking an expense just so you can claim a tax deduction. Yeah, that's the ticket - pay $1 so that you can get 36 cents back (at the highest marginal rate, which very, very few people pay. For most folks it will be more like 20 cents back).

If you find anyone willing to pay a $1 to get 36 cents back, send 'em my way. We can do a lot of business and they won't have to wait until April 15.

Posted by: Boulder Refugee at February 20, 2009 12:08 PM
But jk thinks:

As blog healer, I think I can bring ac and br together on this. The answer you're looking for is fraud. Yes, lie about your income, get false affidavits for mortgage costs -- now you can get the government benefits without any extra taxes or income.

You don't do fraud? Sorry 'bout that. But I'll bet you half the people who apply for relief on this new program committed fraud to get the loan they are now defaulting on. One good turn deserves another, n'est ce pas?

Posted by: jk at February 20, 2009 1:25 PM
But johngalt thinks:

jk - "But I'll bet you half the people who apply for relief on this new program committed fraud to get the loan they are now defaulting on."

I'll take that bet. It isn't fraud on the part of the borrower if the lender never asks for proof that you can repay the loan. The typical borrower believed, "If the bank will loan me the money then they must be confident I can pay them back." After all, isn't that what the thorough underwriting procedures banks used to follow had conditioned us to think? Back in the day, that is, when banks did things that made economic sense instead of what the government coerced them to.

Posted by: johngalt at February 20, 2009 1:55 PM
But jk thinks:

Game on, bro! But how will we settle it?

I contend that (50% + 1 of the) borrowers, at the very least, signed an underwriting document that stated that they had disclosed their income and obligations fairly and completely when they had not. And I surmise that most of that group committed outright malfeasance by knowingly overstating their income and possibly providing fraudulent documentation.

Predatory lenders, my ass. I see fraudulent borrowers with admittedly little incentive for enforcement from lenders.

Posted by: jk at February 20, 2009 2:08 PM
But johngalt thinks:

Do you not argue at cross purposes to your first choice for president Mr. Gramm, who said reckless lending practices were what made Countrywide Financial the world's largest mortgage lender?

But let me defuse the loggerheads we're at by explaining that I spoke of the "no-doc" loans that did not require ANY income statement, much less an accurate one. Can we agree that those required no borrower fraud?

Posted by: johngalt at February 20, 2009 5:33 PM
But jk thinks:

Yeah. I'm trying to remember -- I actually got one of those. I was restructuring debt through a start up and had ZERO income. And I got a loan. I remember thinking "what a country!"

Assuming there's small possibility of fraud (somebody else's social security number?) on no-doc, I'm still not ready to back off the idea that half the current troubled borrowers (the ones we are bailing out with Federal Jack) purposefully misrepresented income or expenses on their application.

I've got zero proof. I just keep hearing about these predatory lenders and remain convinced that the borrowers had a little more mens rea than the lenders. Then again, I'm a hopeless sop for business.

Posted by: jk at February 20, 2009 6:59 PM

Mankiw: President's Economic Team is 'Genius'

Well, sort of:

The expression "create or save," which has been used regularly by the President and his economic team, is an act of political genius. You can measure how many jobs are created between two points in time. But there is no way to measure how many jobs are saved. Even if things get much, much worse, the President can say that there would have been 4 million fewer jobs without the stimulus.

Posted by John Kranz at 12:39 PM | Comments (2)
But johngalt thinks:

In a radio interview yesterday Congressman Jared Polis (D - CO 2nd district) said, "If the economy recovers in one or two years I'd be completely in support of paring down some of the additional spending authorized further down the road under this bill." (I'm paraphrasing)

I took this to be the first hint of how Democrat congressmen plan to stay in office in '10: If the economy is still "bad" they get to continue spending anyway just like FDR did. If it's doing well enough that they can't justify the continuation of deficit spending then they campaign on "reigning it in." Either way they position themselves as the "responsible" party that will keep things on the "right track."

Posted by: johngalt at February 19, 2009 1:38 PM
But jk thinks:

HEY -- that's my brave new Democratic backbencher now that my last Democratic backbencher got kicked upstairs into the Senate!

Yes, they'll keep their hands on the tiller and control the world economy, always knowing and doing the right thing at the right time. They are government and have all those special powers and insight.

Posted by: jk at February 19, 2009 4:22 PM

February 18, 2009

We Are All Cowards, Now

Racial healing!

Catch the Fever!

First black Attorney General, appointed by the first black President, Eric Holder:

"Though this nation has proudly thought of itself as an ethnic melting pot, in things racial we have always been and continue to be, in too many ways, essentially a nation of cowards. Though race-related issues continue to occupy a significant portion of our political discussion, and though there remain many unresolved racial issues in this nation, we, average Americans, simply do not talk enough with each other about race."

Yeah.

Posted by AlexC at 8:54 PM | Comments (1)
But jk thinks:

I find myself afraid of "The Man." You?

Posted by: jk at February 19, 2009 11:29 AM

February 17, 2009

Coloradans against Socialist Pork

President Obama flew the Executive Armada 1600 miles west today so that he could sign his 'Christmas for Democrats' bill in a Denver museum with solar PV panels on the roof. (Yawn.) I drove 28 miles south to add my voice to those who said it is a dark day for our nation.

We arrived late so the only good clip I got was this closing statement by Jon Caldera. We missed hearing Michelle Malkin and Tom Tancredo. But Michelle (who I just learned has recently moved to Denver) has a good clip at the bottom of this post on her site that fills in what we missed.

I also got some good photos:

IMGA0442.JPG

(more below)

IMGA0424.JPG

IMGA0425.JPG

IMGA0428.JPG

IMGA0432.JPG

IMGA0439.JPG

IMGA0446.JPG

Posted by JohnGalt at 11:14 PM | Comments (2)
But Perry Eidelbus thinks:

Hey, you're defacing a picture of The One! How dare you ruin an image of the Beast whom people are supposed to worship!

You RAAAAAAAAAACIST!

Posted by: Perry Eidelbus at February 18, 2009 10:19 AM
But jk thinks:

I'm glad you went. I read about it about 1130am yesterday and didn't think I could get there in time. I wish I had known at 10.

Posted by: jk at February 18, 2009 11:51 AM

February 12, 2009

Gregg Withdraws!

I've been down and despondent on the blog of late. Gotta take good news when it comes:

WASHINGTON – Republican Sen. Judd Gregg of New Hampshire abruptly withdrew his nomination as commerce secretary Thursday, citing "irresolvable conflicts" with President Barack Obama's handling of the economic stimulus and 2010 census.
"We are functioning from a different set of views on many critical items of policy," Gregg said in a statement released by his Senate office.

Gregg is needed in the Senate. (President in '12? anybody?) Besides, he probably paid his taxes and is unfit for the Administration.

Posted by John Kranz at 4:56 PM | Comments (2)
But Keith thinks:

Goodness - between good Senator Gregg's rebuke to Obama and the Nullification Crisis issue below, I'd say New Hampshire is becoming feisty, in a patriotic way. I just MAY have to add the Granite State to the short list of candidates for my next home.

Kudos to Gregg and the citizens of his great state. This proud Carolina boy in California salutes you all -

Posted by: Keith at February 12, 2009 6:07 PM
But jk thinks:

LIVE FREE OR DIE! What else would you need to know to choose a home in the Granite State. Sadly, the invaders have come up Rte 128 for a few years and the state is not politically what it uster be.

There used to be a meme around Libertarians to all move there as the population was small enough to create a big-L majority (then invade Vermont, as Governor Dean took away their guns and their will to live). Reading the Manchester Union Leader, there's a receptive population there to begin with.

Posted by: jk at February 12, 2009 6:48 PM

We Lost LXIV

If I can go one more over my quota of Insty links today -- did'ja see this? President Obama's gonna end sprawl! (Professor Reynolds and I fear that campaign promise might come eerily true.) So we're going to bring back the housing sector -- without building any of those ugly old houses.

That’s why I’d like to see high speed rail where it can be constructed. That’s why I would like to invest in mass transit because potentially that’s energy efficient and I think people are alot more open now to thinking regionally in terms of how we plan our transportation infrastructure. The days where we’re just building sprawl forever, those days are over. I think that Republicans, Democrats, everybody recognizes that that’s not a smart way to build communities. So we should be using this money to help spur this kind of innovative thinking when it comes to transportation. That will make a big difference.

Central planning! That's what works. Some of those spectacular communities you see in the former Soviet Republics -- or public housing in Chicago. Can't let people just buy a lot and build on it -- those days are over. Note the link at the bottom to "Tell Obama to stand strong on this issue!"

[Editor please remove all extraneous exclamation marks and post -- thanks, jk]

Posted by John Kranz at 4:04 PM | Comments (0)

February 11, 2009

Confidence

Okay, maybe I was too kind on the Geithner pick. Insty linked to an item that bankers laughed during his testimony, Looks like those who weren't laughing were selling.

Hat-tip: Everyday Economist

Posted by John Kranz at 11:11 AM | Comments (0)

February 9, 2009

Clumsitude

Don't forget, George Bush and Jerry Ford were clumsy idiots.

Posted by AlexC at 8:44 PM | Comments (1)
But johngalt thinks:

Where is the marine guard standing next to the steps? Bush would always salute him.

One gets the impression that the current president wants to minimize his contact with the servicemen of whom he is commander-in-chief.

Posted by: johngalt at February 10, 2009 12:42 PM

Specter for Spendulus

Well, here we are.

I am supporting the economic stimulus package for one simple reason: The country cannot afford not to take action.

The unemployment figures announced Friday, the latest earnings reports and the continuing crisis in banking make it clear that failure to act will leave the United States facing a far deeper crisis in three or six months. By then the cost of action will be much greater -- or it may be too late.

Wave after wave of bad economic news has created its own psychology of fear and lowered expectations. As in the old Movietone News, the eyes and ears of the world are upon the United States. Failure to act would be devastating not just for Wall Street and Main Street but for much of the rest of the world, which is looking to our country for leadership in this crisis.


In related news, the Washington Post graphs how immediate the stimulus really is.

Answer: 10% gets spent this year... in the year we cannot afford to delay (tm).

(Click to enbiggen)
total-spending-in-stimulus1

Posted by AlexC at 3:29 PM | Comments (2)
But johngalt thinks:

"The" economic stimulus package, Senator Specter? Do you also purchase the first car you test drive, or the first house you look at? How about love - did you marry the first woman you dated?

Posted by: johngalt at February 10, 2009 12:48 PM
But Boulder Refugee thinks:

GWB's misguided decision to back Specter over Toomey in the primaries continues to haunt the party and the nation.

Posted by: Boulder Refugee at February 10, 2009 6:01 PM

Extinguish The Lamp of Liberty

Am I being melodramatic again? Watch this:





The great experiment, the light of liberty and hope in the world is going to go pretty dim here. Elections matter, and this one was lost.

Hat-tip: Ann Althouse

Posted by John Kranz at 12:10 AM | Comments (3)
But johngalt thinks:

One wishes that George W. Bush had said, "Yes, it is true, we torture Islamic terrorists, we spy on them, and we're spending billions of dollars to send well trained and equipped American soldiers to kill them in Iraq and Afghanistan and other places around the world. I admit, we want to defeat them. That is the point!"

Suppose he'd've gotten away with it?

Why wouldn't we want to "replace the federal fleet with hybrid cars?" Well, let's see, maybe because there's nothing wrong with the cars our government already owns? The newest car in my family's "fleet" was made in 1999. They create jobs, you say? Why not just hire full-time drivers for every car in the fleet instead? They save energy, you say? How much more of someone else's money are you willing to spend to save 10 or 20 percent of fuel you also purchase with someone else's money.

Wait - don't answer that last one.

Posted by: johngalt at February 9, 2009 4:18 PM
But dagny thinks:

Listening to this guy makes my blood boil, but this clip is missing the worst part.

I really start shouting at the television when he says, "the American People Spoke," last November. I want to know what about the 47% of us that didn't vote to have our money confiscated and our futures and those of our children mortgaged for Nancy Pelosi's pet projects. 47% is a pretty large minority to be so ignored and run over.

Posted by: dagny at February 10, 2009 11:51 PM
But Perry Eidelbus thinks:

Dagny, how about the 57% or so that didn't vote for Bubba in 1992? Remember that he was elected with only a plurality of the vote.

"The People" speak/spoke/blathered/farted...show me who these "People" are, and I'll show you state-worshippers who use a construct called "government" to pick my pocket.

Posted by: Perry Eidelbus at February 11, 2009 12:02 PM

February 8, 2009

The End of the World as We Know It

That's the subject line as a good friend of ThreeSources shares this. Judith Warner blogs about how couples her age are struggling to deal with the awesomeness of the Obamas:

The other night I dreamt of Barack Obama. He was taking a shower right when I needed to get into the bathroom to shave my legs, and then he was being yelled at by my husband, Max, for smoking in the house. It was not clear whether Max was feeling protective of the president’s health or jealous because of the cigarette.
[...]
(“Like a lot of folks, I have anxiety about being outside of the Obama administration universe right now,” she then explained to me. “Even though I was at the ‘it’ ball of inauguration balls, I still felt like other balls were greener, or more purple, or with credentials completely out of my control — more young. I really feel like I’m scrambling internally … to deserve Obama cred and all I’ve got is this over-my-head wonder for the man that amounts to being an Obama girl.”)

In between those two paragraphs, it gets even stranger. In case you missed the NPR interview, Ms. Warner is described:
Judith Warner's book, "Perfect Madness: Motherhood in the Age of Anxiety" (excerpt, NPR interview), a New York Times best-seller, was published in February 2005. "Domestic Disturbances" appears every Friday.

Our ancestors fought wild beasts and struggled to provide sufficient caloric content to their offspring. But real motherhood anxiety is surely wondering:


Posted by John Kranz at 12:27 PM | Comments (2)
But jk thinks:

My emailer suggests that it is less difficult to understand the excitement on the other side now that their (hunky!) guy is in office. More surprising is the NY Times printing it.

Personally, the link to the NPR interview set the whole thing up for me.


Posted by: jk at February 8, 2009 6:03 PM
But sugarchuck thinks:

It wouldn't be the Minnesota way to allow "The end of the world as we know it" to go uncredited. This comes from Joe Soucheray's Garage Logic Lexicon. Joe is a regular guy using the radio waves to fight the Euphorians and wackadoodles from Liberal Lakes MN. So here's to Joe, Hail the Flashlight King!

Posted by: sugarchuck at February 8, 2009 7:58 PM

February 5, 2009

Hope and Change

A great WSJ editorial today does a little crowing about the successful elections in Iraq. War opponents will howl if I dare to say that it proves the Bush administration right. And they have a point, things could still turn out badly.

The editorial's point, however, is how the elections showed so many of the Bush administration's domestic opponents to be wrong. Iraqis rejected Iranian dominated parties. Iraqis rejected sectarian religious parties. Iraqis rejected splintered states and supported a strong national government.

The peaceful elections also pull the rug out from those who insisted that a political solution must underlie a military solution. Security is a prerequisite for compromise and the surge made all of this possible.

A coda at the end caught my eye. Opposition always implied that Bush & Co. did not bother to understand Sunni vs. Shia or any local issues. Nope, the cowboy doesn't do nuance and they're just obstinately going to push Texas values on Iraq. So how are the nuance kings going to handle Iraq? Sending an ambassador who won't be able to talk with the Prime Minister:

That's why we're puzzled by media reports that Mr. Obama intends to name Christopher Hill to replace Ryan Crocker as America's ambassador in Baghdad. Part of the puzzle is that retired Marine General Anthony Zinni -- a straight-shooter if ever there was one, with long experience in Mideast diplomacy -- claims he was tapped for the job, until the White House withdrew the offer without notice or explanation.

But the greater puzzle is why Mr. Hill -- who has spent the better part of the last few years making unreciprocated concessions to North Korea and whose previous stints included postings in Macedonia, Poland and South Korea -- is qualified to be the ambassador. Unlike Mr. Crocker, Mr. Hill has no real diplomatic experience in the Middle East and is not an Arabic speaker, no small point since Prime Minister Maliki is not an English speaker.


Once again, let's trade parties and imagine the Strum & Drang (isn't that a law firm?) had President Bush done something so "boneheaded."

Posted by John Kranz at 10:55 AM | Comments (0)

February 4, 2009

Hope and Change

"Gather 'round, everybody. While I testify" -- Johnny Mercer

This will be some serious choir-preaching to ThreeSourcers, but if you have not read the lead editorial in the Wall Street Journal today, drop everything and catch up. In a wrap up piece for l'Affaire Daschle, the Ed Page salutes him for withdrawing his nomination but points out -- correctly -- that this is the system we have created and that Democrats as "the party of government" have helped to proliferate.

What Mr. Daschle's lucrative career as influence peddler really illustrates is how much Washington is now expanding its reach over the economy. Politicians and their staffers can make or break fortunes by slipping a rider into a "must pass" bill or dispensing billions of dollars in subsidies to favored constituencies. Naturally businesses are going to protect their interests and hire lobbyists to get the decisions to come out their way.

Had Mr. Daschle been confirmed, he would have been the most important man in a health-care industry expected to be worth $2.5 trillion in 2009, which is larger than the economy of France. With merely a torque to this or that regulation -- to say nothing of the "reform" he was to oversee as White House "health czar" -- he would have channeled all this wealth in one direction or the other. Just another day at the office.


The campaign reform types attack the wrong side of the equation (and our First Amendment rights). Clean government, Senator McCain, will come when the government has less power to pick winners and losers -- not when the governed are proscribed from influencing the outcome.


Posted by John Kranz at 11:11 AM | Comments (0)

February 3, 2009

Honeymoon Waning?

The best picture of President Obama and a room full of 2nd graders?


obama_bored.gif

Posted by John Kranz at 6:54 PM | Comments (2)
But AlexC thinks:

is it me, or does he look "aged" already?

Posted by: AlexC at February 3, 2009 8:34 PM
But jk thinks:

This photo was used for the headline I referenced below "Loss of Daschle Clouds yadda yaddda..." The caption surprised me.

Michael Moore would point out that President Bush really enjoyed "My Pet Goat." I guess President Obama would rather be reading one of his memoirs.

Posted by: jk at February 4, 2009 10:54 AM

Jockstrap

economy

Posted by AlexC at 1:08 PM | Comments (0)

February 2, 2009

Obama: Even More Awesome Than I Thought!

Humorist Andy Borowitz got tired of the nasty email when he dared to criticize our new President. So he has changed his tack, reporting new poll results:

One week into his Presidency, Barack Obama gets high marks in a new poll, with a majority of Americans agreeing with the statement, "Barack Obama is even more awesome than I originally thought."

The percentage of voters who believe that Mr. Obama is awesome surged during his first week in office, with 82% thinking he is awesome now compared to 77% who deemed him awesome last week.

And in the latest measure of his popularity, Mr. Obama receives higher approval ratings in the new poll than either leprechauns or unicorns, mythical beings that almost everyone agrees are totally awesome.

In a head-to-head contest, Mr. Obama beats leprechauns and unicorns combined, garnering 64% compared to 21% for leprechauns, 14% for unicorns, and 1% for Congressman Ron Paul.

Posted by John Kranz at 5:32 PM | Comments (0)

Quote of the Day

daschle.jpg Make no mistake, tax cheaters cheat us all, and the IRS should enforce our laws to the letter. ” Sen. Tom Daschle, Congressional Record, May 7, 1998, p. S4507.
Hat-tip: The Corner via Instapundit. AP photo

UPDATE: The WSJ Ed Page gets honorable mention on the same topic:

Mr. Daschle's excuse? According to a Journal report Friday, "he told committee staff he had grown used to having a car and driver as majority leader and did not think to report the perk on his taxes, according to staff members." How's that for a Leona Helmsley moment: Doesn't everyone have a car and chauffeur, dear?

Posted by John Kranz at 11:37 AM | Comments (3)
But Perry Eidelbus thinks:

The comparison to Leona Helmsley is completely unfair.

Daschle was employed in the U.S. Senate specifically for the purpose of taking certain people's property, by force against their consent, and giving it to others. After involuntarily leaving Congress (meaning he got defeated in the election), his job as a lobbyist was all about seeking special favors for his clients from Congress -- again, the forcible redistribution of wealth.

Helmsley, by contrast, made her fortune as a successful businesswoman in the private sector. All she did was provide what customers willingly wanted, and in the end she was convicted of not providing what the government wanted: to hand over her property. She "cheated" on her taxes, so power to her: what was so wrong about trying to keep what was hers?

Posted by: Perry Eidelbus at February 2, 2009 3:02 PM
But Perry Eidelbus thinks:

One more thing: those who depict her as out-of-touch with "normal" Americans (whoever the hell they are) conveniently forget that Leona came from nothing. Her parents were immigrants, and she hardly grew up wealthy. She also didn't need to "marry up" or become a politician to earn her fortune.

Posted by: Perry Eidelbus at February 2, 2009 3:05 PM
But jk thinks:

Amen, Perry. Senator Daschle is much worse than Helmsley. My only defense of the WSJ Ed Page would be how much the soi disant prairie populist would disapprove of the comparison.

Posted by: jk at February 2, 2009 3:32 PM

January 31, 2009

Change!

Elections have consequences #1343566

US President Barack Obama's offer to talk to Iran shows that America's policy of "domination" has failed, the government spokesman said on Saturday.

"This request means Western ideology has become passive, that capitalist thought and the system of domination have failed," Gholam Hossein Elham was quoted as saying by the Mehr news agency.

"Negotiation is secondary, the main issue is that there is no way but for (the United States) to change," he added.


That's what "we" voted for. That's what we're gonna get.

Posted by AlexC at 1:52 PM | Comments (0)

January 23, 2009

My Water

So... i'm sitting here, enjoying cups and cups of tea.

... noticing that the water tastes of arsenic.

Surely, Mr Obama can re-mandate the lower arsenic levels that evil Mr Bush raised to poison us.

Stroke of the pen, law of the land, eh komrade?

Posted by AlexC at 8:11 PM | Comments (0)

The Post-partisan Era: It Was a Great 48 Hours

From Politico:

President Obama listened to Republican gripes about his stimulus package during a meeting with congressional leaders Friday morning - but he also left no doubt about who's in charge of these negotiations. "I won," Obama noted matter-of-factly, according to sources familiar with the conversation.

Harry Reid is fully on board with the "new tone":

[W]hen Democrats were asked if they were concerned about Republicans blocking the package, Senate Majority Leader Harry Reid had a swift one-word answer: “No.”

We've already learned that much of Obama's campaign promises were "just rhetoric." Now, we learn that the "post-partisan" matra is also. What we have here, folks, is a new Cynic-in-Chief. Get ready for a long four years.

Posted by Boulder Refugee at 6:11 PM | Comments (1)
But jk thinks:

In fairness, br, it outlasted the ThreeSources honeymoon by 47 hours, 35 minutes, and 30 seconds.

Posted by: jk at January 23, 2009 6:38 PM

January 21, 2009

Heartbreak: Four More Years

Posted by AlexC at 4:31 PM | Comments (1)
But jk thinks:

Thank you thank you. I was trying to embed that (from a pirated source) and could not find the code. This is funny and seems somehow important.

Posted by: jk at January 21, 2009 4:40 PM

Life Imitates ThreeSources

Blog brother AlexC has wondered whether dissent remains the highest form of patriotism now that a Democrat lives at 1600 Penn. Denver Post writer and half of the last hope of journalism (with John Stossel) David Harsanyi also asks "Is Dissent Still Patriotic?"

Do all Americans truly have a yearning to fundamentally "remake" our nation? There must be a subversive minority out there that still believes the United States -- even with its imperfections and sporadic recessions -- is, in context, still a wildly prosperous and free country worth preserving.

Some of you must still believe that politicians are meant to serve rather than be worshiped. And there must be someone out there who considers partisanship a healthy, organic reflection of our differences rather than something to be surrendered in the name of so- called unity -- which is, after all, untenable, subjective and utterly counterproductive.

How about those who praised dissent for the past eight years?


That, in a nutshell, is my problem with "The Speech." The Speech says that times are so bad that we must look to the new administration to remake this country. And -- like FDR -- that little niceties like Constitutional rights will not get in the way of the effort.

Posted by John Kranz at 4:03 PM | Comments (0)

Morning in America

Hehehe.

... from the inbox.

outlook

Posted by AlexC at 10:39 AM | Comments (3)
But jk thinks:

Nor has he fixed Global Warming. We're expecting a record 71F today.

Posted by: jk at January 21, 2009 10:50 AM
But T. Greer thinks:


JK, I do think your weather updates from Boulder are going to drive me away from Threesources.

~T. Greer, Minnesotan for Global Warming.

Posted by: T. Greer at January 21, 2009 12:10 PM
But jk thinks:

Heh! Set the flamingos free! (I did a little link surgery, if you missed it, try again.)

Posted by: jk at January 21, 2009 12:27 PM

January 20, 2009

An Historic Day

Yes, it is true. Today's Inauguration of the first [genuine] black President of the United States is a date that will never be forgotten. But then, so is December 7th, 1941.

I take solace in this simple fact: The sun'll come out tomorrow. (And by then, the 44th president's remaining time in office will be one more day shorter.)

Posted by JohnGalt at 11:59 PM | Comments (11)
But Boulder Refugee thinks:

PE: The Refugee has rarely been accused of bleeding-heart liberal headedness, but if the label fits when empathising with historic wrong perpetrated against blacks, then he will accept it.

None of your examples are parallels. First of all, the fact that Obama has no slave blood is a red herring. We're not debating Obama's history, we're debating that of black Americans, without attempting to separate those whose ancestors arrived from Africa after 1863.

Second, I don't buy that "virtual enslavement" constitutes actual enslavement. But even if it does, Filipinos today, and since the Spanish-American war, have not been continually discriminated against by the Spanish.

Third, while pleased for all concerned that your mother escaped her brush with death, that's hardly comparable to a systemic discrimination and physical abuse over a period of generations.

Yes, we all need to move on and release the wrongs of the past (a lesson those in the Middle East especially must learn). But it is not the least unreasonable for a people historically oppressed to be pleased when someone who "looks like them" achieves the highest office in the world.

Posted by: Boulder Refugee at January 22, 2009 7:54 PM
But Perry Eidelbus thinks:

No, I never said you were "liberal" or a "bleeding heart," only that you've fallen for the race guff. I'm seeing a lot of conservatives and libertarians falling for this "touchy-feely" nonsense that vacates reason for nonsense.

None of your examples are parallels. First of all, the fact that Obama has no slave blood is a red herring. We're not debating Obama's history, we're debating that of black Americans, without attempting to separate those whose ancestors arrived from Africa after 1863.

It in fact is not a red herring. It's very much relevant to the fact that they support hinged on the basis of shared skin tone. Or do you really think there was any other reason?

Every person who cheers that "a black man finally [insert achievement here]" only reveals a belief that skin color was a proper qualification. Why should it matter? Aren't we supposed to look past race?

Second, I don't buy that "virtual enslavement" constitutes actual enslavement. But even if it does, Filipinos today, and since the Spanish-American war, have not been continually discriminated against by the Spanish.

I called it "virtual" because Filipinos were free to go home and return to work for their Spanish masters and designated Filipino overlords. You're certainly welcome to read about the practices of Spanish colonization in the Philippines, which largely mirror what happened in the Americas.

You talk about "systematic discrimination" (which could only happen with government's sanction) but don't recognize that the days of racial segregation are over. You're cheering for correcting the sins of the past when today's recipients largely weren't sinned against.

Tell me, why isn't it systematic discrimination against Americans of European and Asian descent when they must score higher than blacks and Hispanics to have the same chance of entering schools? When a bank wouldn't even spit on me for less than 20% down, but a black or Hispanic person could get a no-doc loan because the bank was afraid what the government might do?

What about at an old job when I got a new boss, a micromanaging, supremely lazy black woman? She largely hid her contempt for white and Asian people, and to boot she was a complete idiot at her job. Unfortunately she was untouchable because she always threatened to sue for racial discrimination. When she cut my hours (her way of getting me to quit), I had no such recourse even if had I wanted it.

Third, while pleased for all concerned that your mother escaped her brush with death, that's hardly comparable to a systemic discrimination and physical abuse over a period of generations.

You missed the point, which was that I harbor no ill will toward Japanese today, because they weren't the ones who tried to kill her, and I was not the one attacked. Yet these days you have so many white Americans who are stupidly "apologizing" anew for slavery and Jim Crow, when they had nothing to do with it. (Though I haven't heard anything from Robert "KKK" Byrd on the election and his past...)

I don't care if they apologize or not, if they later are ashamed or not for being so blind. I just don't want them apologizing on my behalf, and using government to make me pay "reparations" in any form, when I had nothing to do with it.

But it is not the least unreasonable for a people historically oppressed to be pleased when someone who "looks like them" achieves the highest office in the world.

I absolutely call that unreasonable. It's racism. Obama has nothing in common with the vast majority of his black supporters, other than skin tone. I could accept that liberals like him for a shared ideology, but that isn't the case. Didn't you see the video where black Americans were asked what they thought of this and that statement, which were McCain's but presented as said by Obama? I wasn't the least bit shocked that, gee, they agreed.

But I guess I'm just silly for believing that line about the content of people's character instead of the color of their skin...

Posted by: Perry Eidelbus at January 23, 2009 12:11 PM
But johngalt thinks:

I tend to agree with Perry. There ought truly be nothing more historic about the first "black" president than the first "brown eyed" president or the first "bald" president. But Mrs. johngalt explains that as a white male I can't understand the visceral satisfaction of finally being able to "identify" with someone. Can anyone argue that it won't be historic when Americans elect the first woman president? (I can't but we'll see what Perry can do with that one.)

It is said that this is about more than just identity politics and the associated favoritism and discriminations. I suppose it's easier to support the actions of a person whom you perceive to be more like yourself than like "the other." But I'll also challenge supporters of this theory to explain how it is ultimately based on anything more than either the fear or reality of identity politics. In other words, why should leftists be any more comfortable with President Obama deciding when to make an "exception" and use "additional" interrogation techniques than they were with President Bush doing so? Or why weren't conservatives more outraged when Bush gave tax cuts to people who paid no taxes than when Obama proposes to do so?

Posted by: johngalt at January 23, 2009 5:17 PM
But Boulder Refugee thinks:

The Refugees main point is that black equality has come a long way in this country, and that he does not begrudge the black community some satisfaction in Obama's election.

PE and JG may enjoy this. It argues that many of the votes for Obama, both black and white, were racially motivate. And The Refugee won't dispute that. However, it also points out that it will help many (whites especially) to get over the legacy of discrimination and back to voting based on policy issues. If Obama's election can do that, then it has a silver lining - as long as we survive the next four years with liberty more or less intact.

Posted by: Boulder Refugee at January 23, 2009 6:45 PM
But Boulder Refugee thinks:

Hopefully, this exchange is not so buried that this item from David Horowitz gets missed. It articulates The Refugee's position far better than he can (or has). The article is from frontpagemag.com, but the hat tip goes to the WSJ for re-running it under "Notable and Quotable." Well worth the whole read.

http://www.frontpagemag.com/Articles/Read.aspx?GUID=168D778B-BB43-4090-BBD1-515F0B003F7B

Posted by: Boulder Refugee at January 25, 2009 3:03 PM
But Perry Eidelbus thinks:

Is Obama's win "historic"? Only if you attach consideration to the fact that he's black. Similarly, a female president would be "historic" only if you attach consideration to her gender.

Martin Van Buren was the first natural-born American citizen. Was that "historic"? Was it any more or less "historic" that he was the first non-Anglo-Saxon president? People attach a lot of needless "firsts" to things, not realizing that if something is possible, of course there will be a first time. Such hogwash allows them to feel good about racist or sexist support of someone who shares the same skin tone or gender. It isn't about someone who has the same stand on the issues: it's now "He looks like me" or "she looks like me."

I don't downplay the good thing that black Americans are no longer enslaved (at least like in the Antebellum Period, because today so many willingly enslave themselves to government handouts), and that there isn't the government-instituted racism of Jim Crow. But it's absurd for anyone to take satisfaction that "a black man got elected" -- one more time, what does skin color have to do with it? Whosoever brings up color, no matter how benignly, the same is who makes it a racial issue.

That link makes me feel like vomiting. "It could have been mistaken for a religious pilgrimage."

Actually, it was just that.

"showing Obama with his eyes uplifted, almost Christ-like, as if in private consultation with the heavens"

What more do you need? People don't just support him; they worship him. And you thought "O come let us adore him" was something sung only at Christmastime.

"The sin of slavery—could it be finally expiated?"

How could it not? Those responsible for slavery are long dead. Those victimized by slavery are also long dead.

Here's my own joke from a while back:

Approaching the end of his presidency, George W. Bush works with the Democrat-controlled Congress to write a law giving a one-time $250,000 reparations payment to each black American descended from slaves. Democrats naturally support it wholeheartedly, and Bush convinces barely enough Republicans so it would pass: "Just trust me." But the GOP can't believe it when Bush proudly announces that he's invited Jesse Jackson and Al Sharpton to the signing ceremony.

So there's the trio in the Oval Office, surrounded by White House aides and the press. Jesse's thinking how the money will come in handy for his child support payments, and Al's dreaming of a hamburger run. Bush signs the bill and then asks the two, "Do you happen to have your checkbooks with you today?" Jesse and Al look at Bush quizzically and simultaneously say, "What do you mean?"

Bush replies, "Well, I guess you missed the key amendment that Republicans put in. Reparations will be paid out after deducting the costs of welfare, housing projects and other federal social spending for black Americans, and after giving reparations to descendants of Union Army men who died in the Civil War. Rather than receive $250,000, the GAO calculates that each black American instead owes $39,165."

Jesse blurts out, "That's ridiculous! I was never on welfare. Why should I pay for something that never involved me?"

Al blows up, "Yeah, and why should money go to the descendants who were never hurt themselves?"

Bush looks up with a smile, his eyes twinkling. "Bingo!"

Posted by: Perry Eidelbus at January 26, 2009 4:27 PM

If You're Not Scared...

Is our 24 1/2 minute honeymoon up yet?

Congratulations, President Obama.

Please, please, please, don't let Secretary Daschle bring the NHS here:

In Britain, a government agency evaluates new medical products for their "cost effectiveness" before citizens can get access to them. The agency has concluded that $45,000 is the most worth paying for products that extend a person's life by one "quality-adjusted" year. (By their calculus, a year combating cancer is worth less than a year in perfect health.)

Here in the U.S., President-elect Barack Obama and House Democrats embrace the creation of a similar "comparative effectiveness" entity that will do research on drugs and medical devices. They claim that they don't want this to morph into a British-style agency that restricts access to medical products based on narrow cost criteria, but provisions tucked into the fiscal stimulus bill betray their real intentions.


Posted by John Kranz at 7:03 PM | Comments (2)
But Charlie on PA Tpk thinks:

More than any other part of the Liberal agenda, that they may take away my freedom of choice in health care tops the list.

Ironically, if such an abomination is passed, my fears of President Obama's administration will be proven true; what a rotten way to be proven right.

Posted by: Charlie on PA Tpk at January 21, 2009 8:02 AM
But jk thinks:

Amen to that, Charlie. Looking at his cabinet selections, it looks like that's the place he'll make his stand for the progressive agenda. Like you, that's the last place I want to see it.

Posted by: jk at January 21, 2009 10:49 AM

Reason's Hopes and Fears

Match mine pretty closely:



Posted by John Kranz at 3:29 PM | Comments (2)
But AlexC thinks:

Where are the "old" Reason-oids?

Only the science guy was over 40.

What is that telling us?

Posted by: AlexC at January 20, 2009 3:36 PM
But jk thinks:

They die from drug overdoses, or nasty diseases they catch from hookers, or from eating tainted beef that was not inspected by the USDA. No real Libertarian ever lives to be 41.

Posted by: jk at January 20, 2009 3:42 PM

Stay Classy, President Obama

Well well well.

On whitehouse.gov

whitehousegov

Silly we, the era of partisan politics hasn't ended.

It just got on a .gov website.

(tip to Redstate)

Posted by AlexC at 3:28 PM | Comments (0)

It Must Be A Biden Thing

The AP reports:


WASHINGTON (AP) - Joe Biden's wife said Monday that he had his pick of being Barack Obama's running mate or the secretary of state nomination that eventually went to Hillary Rodham Clinton, a slip that the vice president-elect immediately tried to shush.

Jill Biden's comment came during an appearance with her husband on "The Oprah Winfrey Show," taped at Washington's Kennedy Center on the eve of the inauguration.

"Joe had the choice to be secretary of state or vice president," she said. Her husband turned to his wife with his finger to his lips and a "Shhhh!" that sent the audience into laughter. "OK, he did," Jill Biden said in her defense.

The vice president-elect blushed, grimaced and gave his wife a hug while the audience continued to erupt in laughter. "That's right," he finally said to his wife. "Go ahead."

Posted by Harrison Bergeron at 9:40 AM | Comments (0)

January 19, 2009

Enchiselment

You have GOT to be kidding me.

President-elect Barack Obama's inaugural address is one of the most anticipated speeches in decades, with many expecting his words to be chiseled into marble some day.

That's allegedly a straight-news article... not opinion.

Tip to Gateway Pundit.

Posted by AlexC at 6:57 PM | Comments (0)

January 16, 2009

Who had $825 Billion?

You win the pool! WSJ:

WASHINGTON -- House Democrats Thursday rolled out the details of an $825 billion economic stimulus package to combat what they called "a crisis not seen since the Great Depression," but its immediate economic impact is unclear and the plan faces hurdles before becoming law.


Posted by John Kranz at 1:23 PM | Comments (0)

January 14, 2009

Kudlow and Obama

The sound you hear is jk weeping ;)

Posted by Harrison Bergeron at 9:54 PM | Comments (2)
But Boulder Refugee thinks:

Now imagine an alternate universe in which liberal pundits sit down to dinner with President Bush. Would it be cordial, polite, and respectful as this one was? Would the those journalist respect the off-the-record agreement instead of using the opportunity to sneeringly leak anecdotes? The Refugee can't imagine it either.

Posted by: Boulder Refugee at January 15, 2009 11:11 AM
But jk thinks:

Heh. Thanks for the link, I hadn't seen this.

No, jk is pretty happy (and lapsing into that creepy third person thing again). Among the things I admire about Mister Kudlow are his optimism and his quickness to respectfully engage those with whom he disagrees. He's as "biased" as anybody in the country, yet other views always get a respectful hearing on his show.

Put me down as cautiously optimistic as well -- though I don't want Larry to hang around with Peggy Noonan and George Will too much. We do not need another "Conventional Wisdom Conservative."

Posted by: jk at January 15, 2009 11:12 AM

About that Depth and Complexity...

The WaPo reports that SecTreas Trainee Geithner had some, as they say in economic circles "'splainin'" to do:

As Treasury Secretary, Geithner would be tasked with directing a mammoth rescue of the nation's economy. President-elect Barack Obama selected him for the post late last year, citing his "unparalleled understanding of our current economic crisis, in all of its depth, complexity and urgency."

But on Tuesday, Geithner appeared before members of the Senate Finance Committee to argue that mistakes on his tax returns early this decade were unintentional and that he has since paid back the $42,702 he owed, including interest.


Hey, it could happen to anybody. I understand Rep. Charlie Rangel's accountant has trouble sometimes. But gosh, fellers, do you ever think that if you made it easier that the newfound productivity might outstimulate the stimulus?

UPDATE: Looks like Insty agrees. And Jim Treacher reminds: "A plumber owed $1,000 in taxes that he didn’t even know about… …and it was headline news!"

Posted by John Kranz at 11:23 AM | Comments (0)

January 12, 2009

Change I Can Believe In

A good friend of ThreeSources sends a link to a Newsweek article. Referring to my post yesterday, alert reader sez "This is how he gets away with it. Guys that have been calling Bush and Cheney evil for seven years are now doing some sort of Orwellian two step providing fig leaves for the Changer in Chief." [Yes, I've tried to sign up his- or her-pithiness as a blogger for some time...]

It's not like when Bush and Cheney were doing it, kids, the new administration understands:

Obama, who has been receiving intelligence briefings for weeks, already knows what a scary world it is out there. It is unlikely he will wildly overcorrect for the Bush administration's abuses. A very senior incoming official, who refused to be quoted discussing internal policy debates, indicated that the new administration will try to find a middle road that will protect civil liberties without leaving the nation defenseless. But Obama's team has some strong critics of the old order, including his choice for director of the CIA, Leon Panetta, who has spoken out strongly against coercive interrogation methods.

I love that a senior administration official did not want to be quoted saying that they would balance civil liberties without leaving the nation "defenseless." Wow, who'd've thought there was a middle ground? These guys really are smart.

Read the whole thing if you dare. It's loaded with Newsweek-smug-smirk. And yet, they are praising the new Administration for continuing the same policies that they have called evil for five years.

The flaw of the Bush-Cheney administration may have been less in what it did than in the way it did it—flaunting executive power, ignoring Congress, showing scorn for anyone who waved the banner of civil liberties. Arguably, there has been an overreaction to the alleged arrogance and heedlessness of Bush and Cheney—especially Cheney, who almost seemed to take a grim satisfaction in his Darth Vader-esque image.

In other words, the Vice President did what he thought was correct without kowtowing to the editorial board of Newsweek. The new administration is to be applauded for doing the same thing but adding the requisite hand-wringing.

Posted by John Kranz at 11:03 AM | Comments (1)
But Boulder Refugee thinks:

And this is why history will judge Bush more kindly. After the venom wears off and years of therapy cures Bush Derangement Syndrome, cooler minds will say, "It wasn't all that bad."

Posted by: Boulder Refugee at January 12, 2009 1:08 PM

January 11, 2009

The Word You're Looking for is 'Duh!'

I guess I am glad the President-elect Obama is backtracking on his vow to close Gitmo. But this seems a bit brazen:

"It is more difficult than I think a lot of people realize," the President-elect explained. "Part of the challenge that you have is that you have a bunch of folks that have been detained, many of whom who may be very dangerous who have not been put on trial or have not gone through some adjudication. And some of the evidence against them may be tainted even though it's true.

It's not more difficult that I realized, Mister President-elect. And I don't think I am particularly alone. Yet when people questioned you on this in the campaign, I don't remember your sharing their concern.

A good lefty friend celebrates that he is showing himself more pragmatic than dogmatic and I suppose I should share that. It is disheartening, however, that he was allowed to fulminate against the evil BushMcCainMonster about the evils of Gitmo without ever being questioned about what he would do with the current occupants (or how he could tie McCain to Bush when McCain was on his side, but I digress).

Therefore, I proudly expose my partisan hackery by admitting that I am glad he is changing his mind -- just disappointed at how easily he is getting away with it. HACMA (Hope And Change My Ass) -- may it gain better traction than Deleterious Anthropogenic Warming of the Globe.

Posted by John Kranz at 3:19 PM | Comments (0)

January 10, 2009

Economic Stimulus Plan

I have a dream - that America's political economy will return to something akin to the late 19th century. Referring to the causes of the latest economic crisis, Yaron Brook and Don Watkins of the Ayn Rand Institute write in their editorial 'Stop Blaming Capitalism for Government Failures:'

None of this is consistent with capitalism. As the economic system that fully recognizes and protects individual rights, including the right to private property, capitalism means, in Ayn Rand’s words, “the abolition of any and all forms of government intervention in production and trade, the separation of State and Economics, in the same way and for the same reasons as the separation of Church and State.” Laissez-faire means laissez-faire: no welfare state entitlements, no Federal Reserve monetary manipulation, no regulatory bullying, no controls, no government interference in the economy. The government’s job under capitalism is single but crucial: to protect individual rights from violation by force or fraud.

America came closest to this system in the latter half of the nineteenth century. The result was an unprecedented explosion of wealth creation and consequent rise in the standard of living.

JK, like the respected Denver radio host Mike Rosen, constantly reminds us to practice the "politics of the possible." But why should it be impossible for a majority of voters to recognize that the big government policies Obama and company may enact just made the problem worse - and they will - and abandon him in droves for the 2012 GOP candidate? This is the "new Reagan" scenario that many have written about. But for this to happen there needs to be a GOP candidate who understands the capitalist ideal before he jumps into the hog wallow to compromise with collectivists. John McCain and George Bush (both of them) despite all their admirable traits, were not that candidate.

Posted by JohnGalt at 1:12 PM | Comments (3)
But jk thinks:

Wow, this Rosen fellow sounds very intelligent...

I share your enthusiasm for the economic policies between the Civil War and the Progressive Era. It was certainly tainted by Jim Crow but I find it easy to call them unrelated. Hayes was the right pick in 1876 and if Tilden had not forced the Compromise of '77 we could have had economic liberty and continued the Reconstruction.

Gene Healy points out that while we had the string of non-descript, "non-heroic" presidencies between Grant & McKinley, we surpassed Great Britain as an economic power.

On the Pragmatism side, jg, put me in with Rosen (I have not heard his show but I've read some of his newspaper columns and heard great reviews from my brother-in-law). I challenge you to look at a group with minimal selection bias and tell me that a majority would agree that welfare and social security should be terminated. I think you'll find it more matches Pew's famous nine-percent. (Again, no fair polling at the Objectivists of Weld County quarterly bake sale and skeet tourney.)

I could not disabuse a right-leaning relative yesterday of the belief that the USDA is only reason the big grocery stores don't sell rancid meat. I can't think of a group of workmates, family, musicians, or friends in which a majority prefers less government "safety-net" security.

I enjoyed the Brook-Watkins piece very much, and I'd be inclined to support a candidate who voiced such beliefs. But I'd be among the few. Rep Ron Paul was able to augment his libertarian followers with a good number of the rabid anti-war left. And he still lost. By a lot.

It's hard for you and me to believe and accept that our zeal for liberty does not enjoy an electoral majority, but it does not. You can write editorials for the Ayn Rand Institute and link and discuss them on ThreeSources. But you'll be a spectator at the next contest between the next McCain and the next Obama.

Posted by: jk at January 11, 2009 12:44 PM
But johngalt thinks:

... welfare and Social Security TERMINATED? JK, you are such a tease. Even I don't dream such things are possible in a single bound.

The idea I tried to explain, perhaps too obliquely, is that the 'ideal' of pure capitalism leads to unprecedented prosperity. Any baby steps in the direction toward more capitalism will make things better for all Americans.

As for the popularity of such market oriented changes to welfare and Social Security, even President Clinton had to sign the GOP bill that reformed the former ... and reforming the latter could be equally popular with the right plan. Perhaps as government operated private accounts with gains earned in private equity markets yet federally guaranteed never to decline in value?

If we're going to talk about bailouts anyway then lets consider one that actually provides some real personal financial security. (Tomorrow I'll deny I ever wrote this.)

Posted by: johngalt at January 13, 2009 3:11 PM
But jk thinks:

But-but-but-but-but-but-but-- you are making the pragmatists' case. I want to fight at the margins and get "as close as we can" to capitalism. For this I seem to be frequently derided as lesser-of-two-evilsism.

I was pulling my absolutism from your excerpt "Laissez-faire means laissez-faire: no welfare state entitlements, no Federal Reserve monetary manipulation, no regulatory bullying, no controls, no government interference in the economy" and from your reference to 19th Century pre-progressive, pre-New Deal policies.

A government risk subsidy is not a bad idea if you could make the right kind of trade. Who is this guy and what has he done to Brother Johngalt?

Posted by: jk at January 13, 2009 4:32 PM

January 4, 2009

Obama's Silence

Hamas vs Israel?

Silence.

"The president-elect is closely monitoring global events, including the situation in Gaza," his national security spokeswoman Brooke Anderson said in a statement after the ground assault got underway.

But she offered no further comment on the violence in Gaza and used a phrase repeated often by Obama and his aides: "There is one president at a time and we intend to respect that."

Senior advisor David Axelrod said Sunday that Obama is "committed" to achieving peace in the Middle East, in the only extended comments from the president-elect's team so far.

"Obviously, this situation has become even more complicated in the last couple of days and weeks... But it's something that he's committed to," Axelrod told CBS television.


That's really going out on a limb there. Really.

Naturally, some are upset.

"The start is not good," said Khaled Meshaal, leader of the Hamas Islamist movement that has ruled Gaza since June 2007.

"You commented on Mumbai but you say nothing about the crime of the enemy (Israel). This policy of double standards should stop."


I have criticized the President-Elect on this in the past.

But to be fair, it really is above his paygrade.

Posted by AlexC at 1:40 PM | Comments (1)
But Bitter American thinks:

Apparently, he can create the "Office of the President Elect" and pad his cabinet with every Clinton retraed he can find (Panetta for CIA? WTF?) But even the Obamistake cannot create spine for himself.

I knew he'd disappoint every liberal Jew in America that ignored his anti-Israel stance.

Posted by: Bitter American at January 6, 2009 11:05 PM

December 14, 2008

A Week

... and counting.

If the Obamoids don't figure out how to handle distractions, it's going to be a fun four years.

Posted by AlexC at 12:11 PM | Comments (0)

December 9, 2008

Ditka For Senate


Charlie on the Pa Turnpike commenting on Fitzmas on Facebook:

There could be an easy way to appoint an untainted Senate candidate to fulfill Pres. Elect Obama's seat: name a Republican

Yes. Brilliant idea.

We need Iron Mike in the Senate.

From an old 'cooler post:

remember that he was going to run against Senator Obama a couple years back. Instead the Illinois GOP picked carpetbagger Ambassador Alan Keyes.

Iron Mike for President? It could be a match up of “what could have been.” Ditka is an “ultra-ultra-ultra conservative.” Apparently we’re not being served by the current crop of candidates.

Posted by AlexC at 1:33 PM | Comments (1)
But Ditka for Senate! thinks:

"This is the land of opportunity, not a land of handouts!" - Mike Ditka
http://www.ditkaforsenate.com

Posted by: Ditka for Senate! at January 4, 2009 2:09 AM

Hope & Change

Merry Fitzmas, Republicans.

Federal authorities arrested Illinois Gov. Rod Blagojevich [Democrat] Tuesday on charges that he brazenly conspired to sell or trade the Senate seat left vacant by President-elect Barack Obama [Democrat] to the highest bidder.

[Democrat] Blagojevich also was charged with illegally threatening to withhold state assistance to Tribune Co., the owner of the Chicago Tribune, in the sale of Wrigley Field, according to a federal criminal complaint. In return for state assistance, [Democrat] Blagojevich allegedly wanted members of the paper's editorial board who had been critical of him fired.

A 76-page FBI affidavit said the 51-year-old Democratic governor was intercepted on court-authorized wiretaps over the last month conspiring to sell or trade the vacant Senate seat for personal benefits for himself and his wife, Patti.


It struck me as rather obvious that the next Senator from Illinois would have been someone like Jesse Jackson Jr, in order to retain the "only black Senator" factor.
U.S. Attorney Patrick J. Fitzgerald said in a statement that "the breadth of corruption laid out in these charges is staggering."

"They allege that Blagojevich [Democrat] put a for sale sign on the naming of a United States senator," Fitzgerald said."

Posted by AlexC at 11:55 AM | Comments (5)
But jk thinks:

Al Franken has money -- y'know, if that Minnesota thing doesn't work out...

Posted by: jk at December 9, 2008 11:58 AM
But Boulder Refugee thinks:

This is really a purely personal matter and it's clear that Republicans are on a policially motivated witch hunt. Moreover, it is a obviously racist attempt to disenfranchise black voters from the Senate.

Separately, There is no truth to the rumor that William Jefferson, (former D-La.) had offered to rent available space in his freezer to Blagojevich.

Remember, you heard it here first.

Posted by: Boulder Refugee at December 9, 2008 1:00 PM
But The Heretic thinks:

I can’t in the right mind condone these allegations. But the “[Democrat]” plastered all over prompts me to ask if the Republican memory is short lived enough to forget Messrs Craig, Stevens, Libby, Foley, Delay and Cunningham to name a few?

Posted by: The Heretic at December 10, 2008 3:21 AM
But jk thinks:

Heretic, when the newspapers ran stories about Craig, Stevens, Foley, and Cunningham, the news media were pretty generous with R's (albeit not in boldface). I think brother AlexC is having a bit of fun.

Stevens and Cunningham are crooks plain and simple and deserve to share a cell with Governor Blagojevich. Foley propositioned a minor from a position of power.

I hate to spend a lot of letters in defense of Rep. Delay because I hold him responsible for the destruction of the Republican Party. But I don't think he was ever convicted, was he?

Senator Craig and Scooter Libby were victims of overzealous prosecution. I hope Blagojevich [Democrat] is treated better by Mister Fitzgerald than Libby [Republican]

Posted by: jk at December 10, 2008 11:39 AM
But Boulder Refugee thinks:

Heretic: Don't you mean "Democrooks"?

Posted by: Boulder Refugee at December 10, 2008 11:40 AM

December 5, 2008

Let the speculation end!

Vice-President-elect Joe Biden announced his pick for the newly created post of VP Economic Advisor:

CHICAGO – Vice President-elect Joe Biden on Friday named Jared Bernstein as his chief economic policy adviser, a new post created as the nation faces a recession.

Bernstein, a senior economist at the liberal Economic Policy Institute, has been an informal economic adviser to President-elect Barack Obama's campaign. He also served as deputy chief economist under Labor Secretary Robert Reich during the Clinton administration.

In a written statement, Biden called Bernstein a "proven, passionate advocate for raising the incomes of middle class families."


Kudlow fans are likely concerned that Bernstein is getting even this close to power. Bernstein has been a frequent guest based on his ability to take a reflexively, leftist, collectivist position against the show's voices of reason.

Posted by John Kranz at 4:05 PM | Comments (1)
But Perry Eidelbus thinks:

Anytime you hear the EPI mentioned, watch out: socialism hides beneath the surface claims of "equality" and "fairness."

Someone from the EPI was "informally advising" Obama. Why am I not surprised?

Posted by: Perry Eidelbus at December 5, 2008 4:25 PM

November 28, 2008

Bidentity Crisis -- Where's Joe?

A good headline from The Denver Post / Politico. It seems more and more certain that Vice-President-elect Biden will not enjoy a high-profile policy role in the new administartion:

Yet in a column last week The Washington Post's David Ignatius called Biden "the incredible shrinking vice president-elect." "Where is he these days?" Ignatius wonders. "Do they have him in a box? He can't be happy at the idea of considering Clinton as foreign policy tsarina -- wasn't Biden's foreign policy savvy the reason he was picked?" Those close to Biden say he views his role as providing counsel to the president — a function that's often not visible to the public -- and that he is doing just that.

We have much to be thankful for.

Posted by John Kranz at 11:16 AM | Comments (0)

November 25, 2008

H.O.P.E.

I'm finding myself hating the Office of the President Elect.

Why?

Not because of policy issues.

Or staffing issues.

It's because of this f-ing arrogance.

I see this sign and my blood pressure rises.

Never before in American history have we had something like this.

Hillbuzz:

Will this cult of personality stuff end on January 20th, or will the makers of smurf blood blue paint be on easy street for the next 4 years?

This stuff just doesn’t feel “American” to us. It’s not the way past leaders have behaved, it’s not the way they conducted themselves.

It seems childish and naive, and that does not give us an ounce of confidence in this man’s abilities to magically solve all of our problems and keep us from crashing into the Second Great Depression.

Posted by AlexC at 6:11 PM | Comments (5)
But jk thinks:

I still have a seal. I want an office now.

Posted by: jk at November 25, 2008 6:29 PM
But Jeremy thinks:

Arrogant? I guess I just don't see it. What's really the problem with it?

Posted by: Jeremy at November 25, 2008 10:21 PM
But Perry Eidelbus thinks:

It's not the seal intrinsically, Jeremy, but it's demonstrative of Obama's attitude. His followers worship him, and he really does believe he's some messianic figure come to save the country.

If you don't already see it, you likely never will.

Posted by: Perry Eidelbus at November 26, 2008 9:06 AM
But jk thinks:

Jeremy -- a couple things. The arrogance is that Senator Obama claimed the mantle of power prematurely with "the seal." Now the seal adorns a special "Office of the President Elect" sign.

On one level, this is funny. It plays into the celebrity-messianic figure that Obama established for himself. I'm guessing none of the others had an "Office of the President-Elect" sign made to make the podium look more presidential. (The Greek columns, one suspects, were in the wash that day.)

On a more serious note, many 'round these parts are concerned that his candidacy was much more about him than his ideas. This could continue into a personal presidency, where the country is asked to accept many supra-Constitutional ideas because they emanate from our historic President. That's banana republic policy, not Madisonian.

Posted by: jk at November 26, 2008 11:40 AM
But johngalt thinks:

I'll defend it (the "office" business, not the seal) although I still agree that he's arrogant.

Creating an "office of the president elect" demonstrates that he is organized and prepared on inauguration day, possibly giving less encouragement to several of America's many enemies to engage in mischief.

But you want to talk arrogance? How about, "We can't sustain a system that bleeds billions of taxpayer dollars on programs that have outlived their usefulness or exist soley because of the power of politicians, lobbyists or interest groups." How many presidents-elect have NOT made this pledge to "scour wasteful spending from the federal budget?"

Fat chance but good luck to you, mister president-elect.

Posted by: johngalt at November 26, 2008 1:00 PM

The Obama Team (1.86 cheers)

I guess people don't come here for their daily rah-rah of accolades for President-elect Obama. (No, they come for Oprahesque condemnations of TV violence...)

But I have been remiss in not giving a moderately full throated salute to his appointments so far:

  • Christy Romer gets high marks from Professor Mankiw -- and Larry Kudlow calls her a Republican and closet supply-sider.

  • Senator Clinton is a great choice for SecState. I can't believe I am saying this, but she's good. As interesting as it is, I'd hate to see the emoluments clause contretemps derail the appointment.

  • Gov. Bill Richardson to Commerce? Awesome. He saw the Clinton free-trading up close, cut taxes as a Governor, and governed NM as a centrist. I don't know if the feds will let him drive 100MPH, but that is such a New Mexico thing, it made me smile (I went to school in Socorro).

  • Geithner seems as good as well get at Treasury, and the market gave him a cheer.

I'm least sure about Geithner and can't get too excited about Senator Daschle at HHS. But, comparing to the Communist Shop being set up in the House (Waxman Chair of Energy????) the Obama Cabinet is looking strong, competent and centrist.

Posted by John Kranz at 5:36 PM | Comments (11)
But jk thinks:

Your Geithner Post is excellent, Perry -- I had missed that.

Posted by: jk at Nove