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When the people fear the government, there is tyranny; When the government fears the people, there is liberty.  ~ Thomas Jefferson

 

Entries Tagged as 'Opinion'

The home-buyer tax credit: Throwing good money after bad

October 27th, 2009 · Housing Industry, Opinion

By Simon Johnson and James Kwak Tuesday, October 27, 2009; 12:20 AM

Congress and the administration seem likely to extend the first-time-home-buyer tax credit. Senate Majority Leader Harry M. Reid wants to extend it through December 2010 but phase out the amount over time; Republican Senator Johnny Isakson, a former real estate agent, wants to extend it through June but double the income limit and make it available to all home buyers.

This is a bad idea.

The main argument for the tax credit is that it stimulates the economy and stabilizes the housing market. Seen purely as a stimulus, the tax credit is highly inefficient. The National Association of Realtors claims that the credit created 350,000 new sales; the Calculated Risk blog calculates that this means the government is paying $43,000 for every extra house sold (since most sales would have happened anyway). According to the Wall Street Journal, Goldman Sachs estimates 200,000 new sales, implying a cost of $80,000 per marginal sale.

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Economy 'Still in a Very Perilous State'

October 8th, 2009 · Banking Industry, Federal Spending, Government, Greed, Obama's Scheme, Opinion, Tax Dollars

A Heroine of ‘Capitalism’

Elizabeth Warren, Chairman of the Congressional Oversight Panel talks about the $700 TARP bailout and her concerns about the U.S. economy.

Thursday, October 8, 2009

Elizabeth Warren is far from a household name, but that could change quickly, given her debut on the big screen this week in Michael Moore’s scathing assessment of the government’s handling of the banking crisis.

The Harvard professor chairs the bipartisan Congressional Oversight Panel, which evaluates how effectively financial institutions are using $700 billion in federal money through the Troubled Assets Relief Program (TARP).

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Vast Conspiracy Is Focusing On Obama, Says Bill Clinton

September 28th, 2009 · Obama's Scheme, Opinion

Associated Press
Monday, September 28, 2009

Bill Clinton says a vast right-wing conspiracy that once targeted him is now focusing on President Obama.

The former president made the comment in a television interview when he was asked about one of the signature moments of the Monica S. Lewinsky affair more than a decade ago. Hillary Rodham Clinton, then the first lady, used the term “vast right-wing conspiracy” to describe how her husband’s political enemies were out to destroy his presidency.

Bill Clinton was asked on NBC’s “Meet the Press” on Sunday whether the conspiracy is still there. He replied: “You bet. Sure it is. It’s not as strong as it was, because America has changed demographically. But it’s as virulent as it was.” Clinton said this time the focus is on Obama, and “their agenda seems to be wanting him to fail.”

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Presidential Decree

September 19th, 2009 · Opinion

The people have turned to Crag’s List to Rant & Rave about many things of which Politics is one.  One in particular caught my eye form Appleton, Wisconsin: PostingID: 1357598428 (‘Presidential Decree’ sent in by Brian from NC)

The attached post does not represent the beliefs of this website nor those on it’s staff.  However we do find it to be rather funny.

 Editor

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Down To The Wire On Overhaul, Obama Readies Speech

September 9th, 2009 · Healthcare, Obama's Scheme, Opinion

By Scott Hensley
NPR Health Blog September 9, 2009

It’s crunch time for changing health care.

What will President Obama say tonight in his speech before a joint session of Congress? And will it matter?

We’re certain to be reminded of the necessity for changing the health system, as the president sees it, to cover more people and to restrain spending. That’s the foundation for the admittedly complex and evolving plan he’d like to see implemented.

There are lots of reports Obama will stand behind a government-run, or public, insurance option as a competitive check on private insurance. The Washington Post reports House Speaker Nancy Pelosi expects Obama to affirm his support for a public option and challenge doubters who think they have a better idea to “put it on the table.”

Pelosi (D-Calif.) is a staunch supporter of a public option, calling it “essential” to passing a health bill in the House, according to an NPR report.

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A Bipartisan Plan to Wreck the System

September 9th, 2009 · Health, Obama's Scheme, Opinion

SEPTEMBER 8, 2009, 7:28 P.M. ET

The health-care address President Obama should really give to Congress.

By HOLMAN W. JENKINS, JR.

What follows is a leaked first draft of President Obama’s speech on health care tonight, complete with instructions for Democrats in the audience.

Members of Congress, Ladies and Gentlemen, Children of the Obama Youth Corps—I come to you tonight to speak frankly about our nation’s health-care crisis and how we in Washington can make it worse.

Salami tactics on health care have long involved slicing the salami from both ends.

On one hand, we enlarge the government’s role in providing health care, making more and more voters dependent on Washington.

On the other, we enact regulations and restrictions to keep driving the private insurance system off a cliff.

To the American people I promise tonight, whatever compromises lay ahead, whatever the arduous negotiations, Democrats and Republicans will work together to continue to drive the current system off a cliff. (Applause from Democrats in the audience; Nancy Pelosi beams.)

Even if we cannot enact my administration’s “public option,” we will extend the great work of previous generations, making sure private health care continues to be unaffordable to more and more Americans, and piling up fresh mandates on employers so fewer and fewer of our citizens will have either jobs or health insurance.

At the same time, with tax dollars, we will continue to subsidize ever more consumption of that which everyone agrees we already consume too much.

We may not get there right away. But by taking these steps, we will bring closer the day when the only form of health care for most Americans will be government-provided health care, and the dream will never die. (Pandemonium among Democrats. Nancy Pelosi daubs her eye.)
I want to give a shout-out to our Republican friends, who have been with us every step of the way, who have been an important part of our salami progress so far—by pushing various “patient’s bills of rights,” defending the tax giveaways that encourage spending regardless of cost or benefit; by expanding Medicare, Medicaid, Veterans benefits and subsidized health care for middle-class children.

I say tonight, without Republican help, we could never have brought the system to its current dysfunction and I thank you.

Now, much has been said about our “public option” that’s been confusing and misinformed. It’s in that spirit that I speak to you tonight.

Critics wonder: How can a new “public option” bring meaningful competition to the health-insurance marketplace and drive down costs?

They miss the point. The great work done so far has tended to squash competition, and we would continue this work—by restricting the ability of insurance companies to design and market their policies; by regulating what coverage they can offer; by using tax distortions to keep consumers in the dark about what their health care really costs, so they will continue to treat it as a “free lunch” when it actually gobbles up more and more of their disposable incomes.

People, this is why insurance rates keep going up and up, and why a competitive marketplace, in which consumers reward those who provide high-quality care at low cost, hardly exists. And I say again, with all humility, this is a great bipartisan achievement.

So the purpose of our public option is not to change any of this, but merely to scoop up the growing number of Americans who won’t be able to get private coverage because we’ve made private coverage so expensive and uneconomic.

Some say the public plan would be unfairly subsidized with tax dollars. No, no, no—the public option would be self-sustaining, just like the Post Office, just like Medicare, just like the federal government, which carefully lives within the tax revenues it receives each year.*

Now, my administration is not wedded to the “public option.” I know my Republican friends say families should not have health care. They believe we can save money by lying down before rapacious insurance CEOs. They say the indigent should be encouraged to practice self-surgery (I’m sure some Republican somewhere thinks this is a good idea).

But let’s put aside our differences and recognize how much we have already accomplished together. I say to Republicans and Democrats alike, if we can just keep working together to inflate the burden of public and private health-care spending as we have the past 30 years, we will push the system to the breaking point. Yes, we can. Yes, we can. (Democrats chant, “Yes we can.” Nancy Pelosi levitates above the audience, flies around the chamber three times and bursts into flame. . . .)

. . . Together we can push our current health-care system over a cliff, and then—well, then [STRONG ENDING HERE]

____

*Certain factual statements subject to OMB review.

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Poll: 57% don't see stimulus working

August 17th, 2009 · Government, Money Matters, Opinion

By Brad Heath, USA TODAY

WASHINGTON — Six months after President Obama launched a $787 billion plan to right the nation’s economy, a majority of Americans think the avalanche of new federal aid has cost too much and done too little to end the recession.

A USA TODAY/Gallup Poll found 57% of adults say the stimulus package is having no impact on the economy or making it worse. Even more —60% — doubt that the stimulus plan will help the economy in the years ahead, and only 18% say it has done anything to help improve their personal situation.

That skepticism underscores the challenge Obama faces in trying to convince the public that the stimulus has helped turn the economy around. It also could complicate the administration’s plans to overhaul the nation’s health care system.

“This is a wake-up call for the administration.” says House Minority Whip Eric Cantor, R-Va. “People see the stimulus hasn’t worked, and now you want to lay on over $1 trillion in a health care plan.”

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White House Objects to Poster That Invokes Obama Children

August 11th, 2009 · Health, Obama's Scheme, Opinion

Jasmine Messiah, 8, says her Florida school doesn’t offer vegan or vegetarian options for lunch. (Physicians Committee For Responsible Medicine)

By Kate Kilpatrick and Ruth McCann Washington Post Staff Writers
Tuesday, August 11, 2009

The posters went up last week, 14 in Union Station. On each of the large displays, a thought bubble rises up from a picture of a beautiful 8-year-old: “President Obama’s daughters get healthy school lunches. Why don’t I?”

A Washington nonprofit that advocates nutrition-policy reform paid $20,000 to get its message across and carefully maneuvered Metro’s tangle of regulations to display its posters. Metro gave it a go — but the White House did not, according to the group. Within 24 hours of the signs’ appearance, the White House asked the Physicians Committee for Responsible Medicine to take down the ads, which feature Jasmine Messiah, a vegetarian who attends a Miami-Dade County public school that, she says, offers no vegetarian or vegan lunch options.

The Physicians Committee has declined to take down the posters.

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The End of Private Health Insurance

April 13th, 2009 · Government, Health, Opinion

When government ‘competes,’ guess who always

Above every other health-care goal, Democrats this year want to institute a “public option” — an insurance program financed by taxpayers, managed by government and open to everyone, much like Medicare. This new middle-class entitlement is the most important debate in Congress this year, because it really is the last stand for anything resembling private health insurance.

This public option will supposedly “compete” with private alternatives. As President Obama likes to put it, those who are happy with the insurance they have now can keep it — and if they happen to prefer the government offering, well, gee whiz, that’s the free market at work. The reality is far different. Not only will the new program become the default coverage for the uninsured, but Democrats intend to game the system to precipitate — or if need be, coerce — an exodus to government from private insurance. Soon enough, that will be the only “option” left.

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The Tax Capital of the World

April 12th, 2009 · Government, Money Matters, Opinion

States are raising taxes despite the ‘stimulus’; New York is No. 1 

Like the old competition to have the world’s tallest building, New York can’t resist having the nation’s highest taxes. So after California raised its top income tax rate to 10.55% last month, Albany’s politicians leapt into action to reclaim high-tax honors. Maybe C-Span can make this tax competition a new reality TV series; Carla Bruni, the first lady of France, could host.

They can invite politicians from the at least 10 other states that are also considering major tax hikes, including Oregon, Illinois, Wisconsin, Washington, Arizona and New Jersey. One explicit argument for the $787 billion “stimulus” bill was to help states avoid these tax increases that even Keynesians understand are contractionary. Instead, the state politicians are pocketing the federal cash to maintain spending, and raising taxes anyway. Just another spend-and-tax bait and switch.

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