Morning Briefing for October 22, 2009

RedState Morning Briefing
For October 22, 2009


1. Remember the TARP Money? Yeah, It’s Gone.

Via USA Today, TARP IG Neil Barofsky has some harsh words for the way the TARP funds have been handled.”The report criticized Treasury’s implementation of the program and its lack of transparency, making 41 recommendations, 18 of which were implemented. Barofsky says it’s “extremely unlikely” that taxpayers will recover the $77 billion committed to the ailing auto industry or the $60 billion in TARP assistance to American International Group as part of a pledge of up to $180 billion in aid. An additional $50 billion to modify unaffordable home mortgages “will yield no direct return.””Please click here for the rest of the post.

2. Harry Reid Blames the AMA. Can’t Bring Himself to Blame RedState.

We, RedState readers, have defeated Harry Reid today and delivered a significant blow to the potential passage of Obamacare. We held every Republican Senator including Olympia Snowe and Richard Burr.Harry Reid late yesterday ran to the Senate floor and cried that he cannot get enough votes to pass the doctors’ bribe to support Obamacare. He blamed the AMA for misleading him.He might actually want to look to RedState. Our readers have generated hundreds and hundreds of phone calls in 24 hours to pretty much every Republican Senator. Several who had considered voting for cloture backed down.And now the end run around Obamacare costs has been defeated.Please click here for the rest of the post.

3. Charlie Crist Delenda Est

Charlie Crist may be well tanned, but he cannot be well rested. After the Chamber of Commerce dropped a nuke into the race this past weekend by leaking polling results showing Rubio has cut significantly into Charlie Crist’s lead, we have a new public poll.Governor Charlie Crist of Florida, running in a Republican Primary against Florida’s former Speaker of the House, is looking to go the way of Dede Scozzafava. That tan of his is just the color change before char.Please click here for the rest of the post.

4. Pethokoukis: America’s Banana Republic Economy

James Pethokoukis (Reuters) cites two examples of why America is well down the road of a banana republic economy. Our record debt levels and deficits, combined the fiscal fantasy land the White House and Congress work and live in are writ large in both examples.First, the White House announces a $250 payment to every senior for inflation that didn’t exist. “In effect, a COLA was paid on inflation that no longer existed,” notes Andrew Biggs of the American Enterprise Institute.Second, the White House in its desperate attempts to get its health reform passed, has tasked the all-too-willing Majority Leader Reid to walk the plank by convincing him to push a $247 billion portion of health reform as an off-budget item, in a separate bill, to be on the Senate floor this week before moving to the merged ObamaCare bill. Even the Washington Post editorial board said “Mr. Reid proposes not to pay for any of it, not even $11 billion, but simply to write a $247 billion IOU.”Please click here for the rest of the post.