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Consider, objectively, some of the points of Barack Obama’s plan.He wants to extend unemployment benefits again. He wants to extend a payroll tax holiday. He wants to give tax credits to small businesses to hire people. He wants more government pork for more roads and bridges.These are all things Republicans have gone along with in the past. These are all things Republicans will probably go along with this time.Some of these things just preserve the status quo. The status quo last month created zero jobs.In other words, Barack Obama has largely proposed a plan key portions of which can pass with bipartisan support. And they will pass with bipartisan support. And there will be a grand bipartisan signing ceremony. Lots of pictures will be taken.No jobs will actually be created. The recession will double dip. But Barack Obama will have gotten his bipartisan jobs plan. So he will not be able to blame the GOP. He’ll have to blame mother nature again.By then, voters will have had enough. They will blame Barack Obama. They will see his ideas are failures. Barack Obama sowed the seeds of his own destruction by offering up just enough acceptable bipartisan compromises to make himself look leadenly, but those compromises are not what will create jobs. Obama will get blamed.And the kicker?Please click here for the rest of the post.
Let’s forget the fact that Obama’s entire Stimulus 10.0 is a counterintuitive proposal that doubles down on the very failures that precipitated this speech. Let’s also disregard the fact that enshrining unemployment insurance as a permanent handout will perpetuate unemployment. And more union-induced, short-term money drops on infrastructure will do nothing but stimulate traffic jams. Let’s focus purely on the very numbers that the administration has offered –numbers that would undoubtedly be revised upward, if the plan is passed.Total package – $447 billion- 50% payroll tax cut for every employee, dropping the rate from 6.2% to 3.1%= $175 billion-Obama also proposed cutting the employer payroll tax in half on the first $5 million of a firm’s payroll in 2012. About 98% of firms have payrolls of $5 million or less.= $70 billion-National infrastructure bank = $10 billion- Pork project handouts to unions for roads, rails and bridges= $50 billion-An unprecedented extension of unemployment insurance benefits to be extended for another year, beyond the 99 weeks= $62 billion.-Handouts to public school teacher unions, even though we already spend more per capita on education than any other country=$35 billion-Refurbishing schools, a responsibility of local government=$25 billion-Handouts to community colleges=$5 billion-Rehabilitate vacant property=$15 billionDespite the steep cost, Obama claims that it will all be paid for. How will he pay for it?Please click here for the rest of the post.
(1) The President took Richard Trumka of the AFL-CIO with him to Congress. Trumka’s union saw 500 of its members storm a business last night, take hostages, and destroy property. The President also took Jeffrey Immelt of GE with him. General Electric is a prime example of a business that has profited lately not through the free market, but through the government picking winners and losers.(2) Solydra, which got millions from Barack Obama in his last stimulus and had the President champion its cause, got raided by the FBi yesterday.(3) We would not have to be subjected to this if President Obama’s last attempts had worked — including attempts from when the the Democrats controlled both the White House and Congress.We heard nothing new — just repackaged, failed ideas. Consider what we heard in 2009, 2010, and in January of this year.Please click here for the rest of the post.
Rep. John Boehner recently requested from President Obama a list of any pending regulations that would cost business $1 billion or more.Interestingly enough, Obama did as requested and some of the more egregious regulations have been making waves.While they’re all expensive and ridiculous, one particular regulation put another chink in the armor of an administration that I have said before, seems intent on bankrupting the American auto industry.Please click here for the rest of the post.
Huey Long must be turning over in his grave. Qualifying closed today for Louisiana’s Fall 2011 statewide elections, and the once super-dominant Democratic Party has failed to field a single credible candidate for statewide office.Not a single one.Please click here for the rest of the post.
Unlike the other New York special election races where the Democrats batted a thousand and the media covered them as prognosticators of doom and gloom for the GOP, there’s been radio silence for the most part on the special election to replace Anthony Weiner in NY-9.But there are alarm bells going on at the White House and the DNC. The DCCC just dropped a half-million dollars into a district the Democrats should easily win.The House Majority PAC is suddenly dumping money into the race.Please click here for the rest of the post.
You’ve probably read by now Mitt Romney adviser Stuart Stevens’ gleeful email to Ben Smith – and might I add that there is something unseemly about an ostensible Republican using Politico for what is essentially an internal debate? – crowing over Governor Rick Perry’s rather sensible observation that Social Security is a Ponzi scheme:”He has lost. No federal candidate has ever won on the Perry program to kill Social Security. Never has. never will.”A few things: first off, note that what Perry said is not what Romney had his minion accuse Perry of saying. Just to get that out of the way. Second – and much more importantly – federal candidates can in fact say in public that Social Security is a Ponzi scheme and still win elections. Just ask Senator Ron Johnson (R, WI).Please click here for the rest of the post.
The Obama campaign has set up a voter registration effort for the next election called “Project Vote” – the same name as a voter registration organization closely associated with Association of Community Organizers for Reform Now (ACORN). The selection of this name for Obama’s effort raises serious questions about what Obama intends to do with his get out the vote campaign.Project Vote’s connection to ACORN links it to voter registration fraud in the 2008 elections. Prior to the summer of 2008 (when an ACORN embezzlement scandal became public), Project Vote’s board was made up entirely of ACORN staff members and ACORN members, according to The New York Times. An internal report by ACORN’s lawyer Elizabeth Kingsley indicated that due to the tight relationship between Project Vote and ACORN, it was impossible to document that Project Vote’s money had been used in a nonpartisan manner as required by law. ACORN and Project Vote ran voter registration drives which were largely underwritten by Project Vote in 2008 in states Obama needed to win the White House. Former Project Vote employee and ACORN whistleblower Anita Moncrief testified to under oath in 2008 that “Project Vote is a sister organization of ACORN. When I got there, I actually thought I was working for ACORN. . . I learned there wasn’t much of a difference” between the two groups.Please click here for the rest of the post.