United States loses prized AAA credit rating from S&P
By Walter Brandimarte and Daniel Bases | Reuters – 1 hr 26 mins ago
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Article: Instant view: U.S. loses AAA credit rating from S&P
Reuters - 15 hrs ago
Article: Obama officials attack S&P's credibility after downgrade
Reuters - 13 hrs ago
Article: HK says U.S. downgrade expected, will monitor market reaction
Reuters - 2 hrs 42 mins ago
NEW YORK (Reuters) - The United States lost its top-tier AAA credit rating from Standard & Poor's on Friday in an unprecedented blow to the world's largest economy in the wake of a political battle that took the country to the brink of default.
S&P cut the long-term U.S. credit rating by one notch to AA-plus on concerns about the government's budget deficit and rising debt burden. The action is likely to eventually raise borrowing costs for the American government, companies and consumers.
"The downgrade reflects our opinion that the fiscal consolidation plan that Congress and the Administration recently agreed to falls short of what, in our view, would be necessary to stabilize the government's medium-term debt dynamics," S&P said in a statement.
The outlook on the new U.S. credit rating is "negative," S&P said in a statement, indicating another downgrade was possible in the next 12 to 18 months.
The move reflects the deterioration in the global economic standing of the United States, which has had a AAA credit rating from S&P since 1941, and it could have implications for the U.S. dollar's reserve currency status.
"The global system must now adjust to the many implications and uncertainties of the once-unthinkable loss of America's AAA," said Mohamed El-Erian, co-chief investment officer at Pacific Investment Management Co which oversees $1.2 trillion in assets.
The decision follows a fierce political battle in Congress over cutting spending and raising taxes to reduce the government's debt burden and allow its statutory borrowing limit to be raised.
On August 2, President Barack Obama signed legislation designed to reduce the fiscal deficit by $2.1 trillion over 10 years. But that was well short of the $4 trillion in savings S&P had called for as a good "down payment" on fixing America's finances.
Saturday, August 6, 2011
Friday, August 5, 2011
stopping Muslim takeover
Several Republican presidential candidates have warned of a Muslim plot to force American courts to rule by the religious code. Former Pennsylvania Sen. Rick Santorum recently called it "an existential threat" to the United States; former Minnesota Gov. Tim Pawlenty shut down a program in his state that would allow practicing Muslims to pay for mortgages without violating their religious teachings against borrowing with interest; businessman Herman Cain said he would require Muslims to take an extra loyalty oath to serve in his administration; and former House Speaker Newt Gingrich called for a federal law to ban Sharia from U.S. courts.
Tuesday, August 2, 2011
Obama negates Israeli security
bama’s hollow claim of commitment to Israel’s security
By MORTON KLEIN AND DANIEL MANDEL
08/01/2011 00:03
For a year, Obama prohibited any new US sanctions to stop Iran developing nuclear weapons – a looming existential threat to both Israel and the US.
Is President Barack Obama committed to Israel’s security? Reassuring bromides to that effect in his recent speeches are nullified by specific statements that spell out dangerous Israeli concessions and disregard for Israeli vital interests. Worse, the administration’s wider Middle East policies further denude those commitments of meaning.
Thus, when Obama said Israel must have secure, recognized borders “different than the one that existed on June 4, 1967,” many missed the point that this means little, when the new borders are to be “based on the 1967 lines, with mutually agreed swaps” and therefore be virtually indistinguishable from those lines. Indeed, with Palestinians unlikely to agree to any swaps, Obama gave the Palestinians a veto over any continued Israel presence beyond the pre-1967 lines.
Moreover, Obama’s unprecedented call for a Palestinian state to have “permanent Palestinian borders with… Jordan” would require Israel ceding the Jordan Valley, whose retention successive Israeli governments have regarded as vital– another first for a US president.
Obama has also become the first US president to suggest that issues of “territory and security” be agreed upon first, before proceeding to negotiations on all other matters, including Jerusalem and Palestinian refugees and their millions of descendants.
Upholding Israel’s basic security would also mean repudiating the repatriation of the refugees and their descendants. Bush did so in his May 2004 letter; Obama has not. On the contrary, he has supported the so-called Saudi peace plan, which demands not only a return to the 1967 lines, but also the return of all refugees and their descendants.
In May, Obama reiterated that the US “will hold the Palestinians accountable for their actions and their rhetoric.”
But he never has – nor does he now.
When, in August 2009, Fatah held a conference in Bethlehem, reaffirming its refusal to accept Israel’s existence as a Jewish state, glorifying terrorists, insisting on the so-called ‘right of return,’ and rejecting an end of claims in any future peace agreement, Secretary of State Hillary Clinton astonishingly claimed that the conference showed “a broad consensus supporting negotiations with Israel and the two-state solution.”
When in 2010, the PA named a Ramallah square after terrorist Dalal Mughrabi, Clinton falsely claimed that this ceremony was initiated by a “Hamas-run municipality.”
Refusing to identify the PA as responsible, Obama has not penalized it.
INDEED, FAR from holding Palestinians accountable, Obama has consistently rewarded them, increasing aid to almost $1 billion per year. A Palestinian Media Watch report just presented to the US Congress documents that, in May 2011 alone, the PA paid $5,207,000 in salaries to Palestinians in Israeli jails, including blood-soaked terrorists. Last year the US provided $225 million to the general Palestinian budget from which these salaries are paid.
If Obama was genuine about holding the PA accountable, he would be demanding the disbanding of Fatah’s own Al Aqsa Martyrs Brigades – a US- recognized terrorist group. He would demand the abrogation of the PA’s unity agreement with Hamas (which calls for a genocide of Jews) as a precondition of any future talks. He has done neither.
It is also difficult to imagine what conception of American and Israeli security interests led Obama in January to ditch Egyptian president Hosni Mubarak and call for political “transition… now” when protests erupted in Cairo. Still less clear is why his administration spoke immediately of involving “non-secular actors” – a clear allusion to the Muslim Brotherhood – given its virulent hostility to the US and Israel. Now, Obama has legitimized the Brotherhood by initiating contacts with it.
THE NET result is that Egypt is on the road from lukewarm ally and peace-maker to a dependable enemy – one to which Obama has announced the sale of 125 state-of-the-art M1A1 Abrams tanks. It is also disturbing that Obama has not pressured Egypt to close its Gaza border at Rafah, whose recent opening has enabled the flow of weaponry into Hamas-run Gaza.
For a year, Obama prohibited any new US sanctions to stop Iran developing nuclear weapons – a looming existential threat to both Israel and the US. Indeed, further measures which must be taken to stop Iran is precisely what Obama left untouched in his recent speeches.
Thus Obama’s words and deeds not only fail to match his stated commitment to Israel’s security – they negate it.
Morton A. Klein is National President of the Zionist Organization of America (ZOA). Dr. Daniel Mandel is Director of the ZOA’s Center for Middle East Policy and author of H.V. Evatt & the Establishment of Israel (London: Routledge, 2004).
By MORTON KLEIN AND DANIEL MANDEL
08/01/2011 00:03
For a year, Obama prohibited any new US sanctions to stop Iran developing nuclear weapons – a looming existential threat to both Israel and the US.
Is President Barack Obama committed to Israel’s security? Reassuring bromides to that effect in his recent speeches are nullified by specific statements that spell out dangerous Israeli concessions and disregard for Israeli vital interests. Worse, the administration’s wider Middle East policies further denude those commitments of meaning.
Thus, when Obama said Israel must have secure, recognized borders “different than the one that existed on June 4, 1967,” many missed the point that this means little, when the new borders are to be “based on the 1967 lines, with mutually agreed swaps” and therefore be virtually indistinguishable from those lines. Indeed, with Palestinians unlikely to agree to any swaps, Obama gave the Palestinians a veto over any continued Israel presence beyond the pre-1967 lines.
Moreover, Obama’s unprecedented call for a Palestinian state to have “permanent Palestinian borders with… Jordan” would require Israel ceding the Jordan Valley, whose retention successive Israeli governments have regarded as vital– another first for a US president.
Obama has also become the first US president to suggest that issues of “territory and security” be agreed upon first, before proceeding to negotiations on all other matters, including Jerusalem and Palestinian refugees and their millions of descendants.
Upholding Israel’s basic security would also mean repudiating the repatriation of the refugees and their descendants. Bush did so in his May 2004 letter; Obama has not. On the contrary, he has supported the so-called Saudi peace plan, which demands not only a return to the 1967 lines, but also the return of all refugees and their descendants.
In May, Obama reiterated that the US “will hold the Palestinians accountable for their actions and their rhetoric.”
But he never has – nor does he now.
When, in August 2009, Fatah held a conference in Bethlehem, reaffirming its refusal to accept Israel’s existence as a Jewish state, glorifying terrorists, insisting on the so-called ‘right of return,’ and rejecting an end of claims in any future peace agreement, Secretary of State Hillary Clinton astonishingly claimed that the conference showed “a broad consensus supporting negotiations with Israel and the two-state solution.”
When in 2010, the PA named a Ramallah square after terrorist Dalal Mughrabi, Clinton falsely claimed that this ceremony was initiated by a “Hamas-run municipality.”
Refusing to identify the PA as responsible, Obama has not penalized it.
INDEED, FAR from holding Palestinians accountable, Obama has consistently rewarded them, increasing aid to almost $1 billion per year. A Palestinian Media Watch report just presented to the US Congress documents that, in May 2011 alone, the PA paid $5,207,000 in salaries to Palestinians in Israeli jails, including blood-soaked terrorists. Last year the US provided $225 million to the general Palestinian budget from which these salaries are paid.
If Obama was genuine about holding the PA accountable, he would be demanding the disbanding of Fatah’s own Al Aqsa Martyrs Brigades – a US- recognized terrorist group. He would demand the abrogation of the PA’s unity agreement with Hamas (which calls for a genocide of Jews) as a precondition of any future talks. He has done neither.
It is also difficult to imagine what conception of American and Israeli security interests led Obama in January to ditch Egyptian president Hosni Mubarak and call for political “transition… now” when protests erupted in Cairo. Still less clear is why his administration spoke immediately of involving “non-secular actors” – a clear allusion to the Muslim Brotherhood – given its virulent hostility to the US and Israel. Now, Obama has legitimized the Brotherhood by initiating contacts with it.
THE NET result is that Egypt is on the road from lukewarm ally and peace-maker to a dependable enemy – one to which Obama has announced the sale of 125 state-of-the-art M1A1 Abrams tanks. It is also disturbing that Obama has not pressured Egypt to close its Gaza border at Rafah, whose recent opening has enabled the flow of weaponry into Hamas-run Gaza.
For a year, Obama prohibited any new US sanctions to stop Iran developing nuclear weapons – a looming existential threat to both Israel and the US. Indeed, further measures which must be taken to stop Iran is precisely what Obama left untouched in his recent speeches.
Thus Obama’s words and deeds not only fail to match his stated commitment to Israel’s security – they negate it.
Morton A. Klein is National President of the Zionist Organization of America (ZOA). Dr. Daniel Mandel is Director of the ZOA’s Center for Middle East Policy and author of H.V. Evatt & the Establishment of Israel (London: Routledge, 2004).
Monday, August 1, 2011
Obama destroying the US economy
1. Here is one way to look a the debt ceiling, deficit debate. From 2010 to 2011, total federal spending grew by about $250 billion, to $3.7 trillion. Absent any cuts, over the next ten years, it will be at least 50 trillion in total, likely several trillion higher, since interest costs are likely to rise, the estimated cost of Obamacare subsidies is almost certainly too low, and estimates of economic growth ( between 3% and 4% a year) are likely way too high, meaning that health and welfare costs will be higher than estimated. The agreement reached yesterday reduces government spending by $2.4 trillion over this period, or less than 20% of the projected GROWTH in spending estimated for the next ten years. Only with government, are baseline spending levels considered holy, and cuts (always draconian, according to the left) nothing more than reductions in the growth rate in spending. Federal spending is now 25% of GDP, 5 points higher than in the Bush years, and probably headed higher unless GDP growth accelerates . Given that the GOP had limited leverage, short of allowing a default to occur, they did not do badly with this deal. They got the nation to focus on the deficits, and realize they were unsustainable. Obama showed once again that he is a weak leader, and at times a brittle, angry man. The left is apoplectic, favoring even more spending and bigger deficits. Paul Krugman' s astonishingly arrogant comment on ABC yesterday is below. Krugman will never admit that stimulus spending that temporarily preserves jobs , or creates new temporary make work jobs, will not reduce structural unemployment. Krugman was for using lots of stimulus money to save state and local government job in 2009s, before he concluded two years later that this was not effective stimulus spending. In 2001, Krugman was a deficit hawk, decrying the Bush tax cuts, over 80% of which went to middle income people. Now deficits do not matter. As Gilda Radner would say, "Never mind."
In the dumb and dumber category, check out this gem from the lady who told us to pass Obamacare, so we could learn what was in it.
The former speaker seems to need help with the English language, including the use of the word "some" .
"I don't know all the particulars of what the final product is in writing and what the ramifications will be," Pelosi said, noting the measure will have an impact for a decade or more. Asked about the outcome, she warned: "We all may not be able to support it or none of us may be able to support it."
My article: http://tinyurl.com/3zm9r3j
Krugman: http://tinyurl.com/3w47q5o
Mark Steyn on Pelosi and other "the world is ending leftists: http://tinyurl.com/3qunpn3
2. Do you thik it is just accident that gas prices have doubled under Obama? Cutting off domestic supply growth, and forcing the use of ethanol have not helped.
http://tinyurl.com/3zdsy33
In the dumb and dumber category, check out this gem from the lady who told us to pass Obamacare, so we could learn what was in it.
The former speaker seems to need help with the English language, including the use of the word "some" .
"I don't know all the particulars of what the final product is in writing and what the ramifications will be," Pelosi said, noting the measure will have an impact for a decade or more. Asked about the outcome, she warned: "We all may not be able to support it or none of us may be able to support it."
My article: http://tinyurl.com/3zm9r3j
Krugman: http://tinyurl.com/3w47q5o
Mark Steyn on Pelosi and other "the world is ending leftists: http://tinyurl.com/3qunpn3
2. Do you thik it is just accident that gas prices have doubled under Obama? Cutting off domestic supply growth, and forcing the use of ethanol have not helped.
http://tinyurl.com/3zdsy33
Friday, July 29, 2011
Obama ratings drop drop drop
Obama’s approval numbers hit all-time low
The Daily Caller – 2 hrs 11 mins ago
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President Barack Obama’s approval rating sank to a new low Friday, according to Gallup’s daily presidential tracking poll.
Just 40 percent of Americans say they approve of Obama’s performance as president. That is down three percentage points from Thursday. 50 percent say they do not approve of the job he is doing.
The poor rating comes amidst an increasingly chaotic debate over raising the debt ceiling, as the deadline to raise it or risk the government defaulting on its debts looms.
Just 41 percent of the public said they approved of the way Obama was handling the debt-ceiling negotiations, while 52 percent disapproved, according to another Gallup poll released Thursday. Nonetheless, Obama still polls better than congressional leadership. Speaker of the House John Boehner and Senate Majority Leader Harry Reid both received even lower approval rates.
The president’s 40 percent approval rating follows a Pew Research Center for the People and the Press poll released Thursday that found Obama’s support among independents has eroded a great deal. 54 percent of independents disapprove of Obama’s performance as president, according to the Pew poll, the most during his time in office. Just 36 percent approve of the job he is doing.
Obama has also lost ground against a generic Republican challenger — getting 41 percent of the vote when matched with an unnamed Republican who polled 40 percent.
The Daily Caller – 2 hrs 11 mins ago
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President Barack Obama’s approval rating sank to a new low Friday, according to Gallup’s daily presidential tracking poll.
Just 40 percent of Americans say they approve of Obama’s performance as president. That is down three percentage points from Thursday. 50 percent say they do not approve of the job he is doing.
The poor rating comes amidst an increasingly chaotic debate over raising the debt ceiling, as the deadline to raise it or risk the government defaulting on its debts looms.
Just 41 percent of the public said they approved of the way Obama was handling the debt-ceiling negotiations, while 52 percent disapproved, according to another Gallup poll released Thursday. Nonetheless, Obama still polls better than congressional leadership. Speaker of the House John Boehner and Senate Majority Leader Harry Reid both received even lower approval rates.
The president’s 40 percent approval rating follows a Pew Research Center for the People and the Press poll released Thursday that found Obama’s support among independents has eroded a great deal. 54 percent of independents disapprove of Obama’s performance as president, according to the Pew poll, the most during his time in office. Just 36 percent approve of the job he is doing.
Obama has also lost ground against a generic Republican challenger — getting 41 percent of the vote when matched with an unnamed Republican who polled 40 percent.
Americans wising up to Obama
>>
>> WE'VE FIGURED HIM OUT!
>> By Ben Stein
>>
>>
>> Why was President Barack Obama in such a hurry to get his socialized
>> medicine bill passed? Because he and his cunning circle realize some
>> basic
>> truths:
>>
>> The American people in their unimaginable kindness and trust voted for a
>> pig
>> in a poke in 2008.
>> (Pig in a poke means: an offering or deal that is foolishly accepted
>> without being examined first. A poke means sack.)
>>
>> They wanted so much to believe Barack Obama was somehow better and
>> different
>> from other ultra-leftists that they simply took him on faith.
>>
>> They ignored his anti-white writings in his books.
>>
>> They ignored his quiet acceptance of hysterical anti-American diatribes
>> by
>> his minister, Jeremiah Wright.
>>
>> They ignored his refusal to explain years at a time of his life as a
>> student.
>>
>> They ignored his ultra-left record as a "community organizer," Illinois
>> state legislator, and Senator.
>>
>> The American people ignored his total zero of an academic record as a
>> student and teacher, his complete lack of scholarship when he was being
>> touted as a scholar.
>>
>> Now, the American people are starting to wake up to the truth. Barack
>> Obama
>> is a super likeable super leftist, and not a fan of this country.
>>
>> The American people have already awakened to the truth that the stimulus
>> bill -- a great idea in theory -- was really an immense bribe to Democrat
>> interest groups, and in no way helped all Americans.
>>
>> The American people already know that Mr. Obama's plan to lower health
>> costs
>> while expanding coverage and bureaucracy is a myth, a promise of
>> something
>> that never was and never can be --
>> "a bureaucracy lowering costs in a free society." Either the costs go up
>> or
>> the free society goes away... an historical truth.
>>
>> These are perilous times. Mrs. Hillary Clinton, our Secretary of State,
>> has
>> given Iran the go-ahead to have nuclear weapons, an unqualified betrayal
>> of
>> the nation. Now, we face a devastating loss of freedom at home in health
>> care.It will be joined by controls on our lives to "protect us" from
>> global
>> warming, itself largely a fraud, if believed to be caused by man.She has
>> also signed on to a Small Firearms Treaty at the U.N. This is a back door
>> gun control move. This is approved by the Senate and a 2nd Amendment
>> majority doesn't exist in the Senate now. It will supersede all U.S. Law
>> and
>> the 2nd Amendment. All citizen possession will be eliminated through
>> confiscation. Just Like Great Britain and Australia .
>>
>> Mr. Obama knows Americans are getting wise and will stop him if he delays
>> at
>> all in taking away our freedoms.There is his urgency and our opportunity.
>> Once freedom is lost, America is lost. Wake up, beloved America .
>>
>> Ben Stein is a writer, economist, and lawyer living in Beverly Hills and
>> Malibu . He writes "Ben Stein's Diary" for every issue of The American
>> Spectator.
>> WE'VE FIGURED HIM OUT!
>> By Ben Stein
>>
>>
>> Why was President Barack Obama in such a hurry to get his socialized
>> medicine bill passed? Because he and his cunning circle realize some
>> basic
>> truths:
>>
>> The American people in their unimaginable kindness and trust voted for a
>> pig
>> in a poke in 2008.
>> (Pig in a poke means: an offering or deal that is foolishly accepted
>> without being examined first. A poke means sack.)
>>
>> They wanted so much to believe Barack Obama was somehow better and
>> different
>> from other ultra-leftists that they simply took him on faith.
>>
>> They ignored his anti-white writings in his books.
>>
>> They ignored his quiet acceptance of hysterical anti-American diatribes
>> by
>> his minister, Jeremiah Wright.
>>
>> They ignored his refusal to explain years at a time of his life as a
>> student.
>>
>> They ignored his ultra-left record as a "community organizer," Illinois
>> state legislator, and Senator.
>>
>> The American people ignored his total zero of an academic record as a
>> student and teacher, his complete lack of scholarship when he was being
>> touted as a scholar.
>>
>> Now, the American people are starting to wake up to the truth. Barack
>> Obama
>> is a super likeable super leftist, and not a fan of this country.
>>
>> The American people have already awakened to the truth that the stimulus
>> bill -- a great idea in theory -- was really an immense bribe to Democrat
>> interest groups, and in no way helped all Americans.
>>
>> The American people already know that Mr. Obama's plan to lower health
>> costs
>> while expanding coverage and bureaucracy is a myth, a promise of
>> something
>> that never was and never can be --
>> "a bureaucracy lowering costs in a free society." Either the costs go up
>> or
>> the free society goes away... an historical truth.
>>
>> These are perilous times. Mrs. Hillary Clinton, our Secretary of State,
>> has
>> given Iran the go-ahead to have nuclear weapons, an unqualified betrayal
>> of
>> the nation. Now, we face a devastating loss of freedom at home in health
>> care.It will be joined by controls on our lives to "protect us" from
>> global
>> warming, itself largely a fraud, if believed to be caused by man.She has
>> also signed on to a Small Firearms Treaty at the U.N. This is a back door
>> gun control move. This is approved by the Senate and a 2nd Amendment
>> majority doesn't exist in the Senate now. It will supersede all U.S. Law
>> and
>> the 2nd Amendment. All citizen possession will be eliminated through
>> confiscation. Just Like Great Britain and Australia .
>>
>> Mr. Obama knows Americans are getting wise and will stop him if he delays
>> at
>> all in taking away our freedoms.There is his urgency and our opportunity.
>> Once freedom is lost, America is lost. Wake up, beloved America .
>>
>> Ben Stein is a writer, economist, and lawyer living in Beverly Hills and
>> Malibu . He writes "Ben Stein's Diary" for every issue of The American
>> Spectator.
Tuesday, July 19, 2011
Obama destroying the economy-welfare state
The Welfare State
1. The goal of the left is to create enough entitlements, for enough people, that America’s two party system will become similar to those in Europe- where the essential components of the welfare state are never challenged any more. The quibbling between the parties is then only at the margins. The good society becomes an ordered society, with the rules and results , dictated by the bureaucrats. Obamacare, if not reversed, is likely to be the final nail in the coffin – creating a new class of tens of millions of people dependent on government. It will, of course, come at horrific cost- it will be jobs killing, and guarantee slower economic growth in the future, which will lower the average standard of living. It is likely to create demand driven inflation, which will be treated by the new classes of regulators through rationing, and price controls, which are very likely to drive physicians from their practice. And it is certain to be far more expensive than the CBO estimates for the legislation, moving up the day of reckoning for the nation’s spiraling out of control debt. The left will argue that the rich just need to pay their fair share. They will ignore the fact that the Bush tax cuts of 2001 removed almost half the population from the income tax roles, and Obamacare is financed at least half, and likely more than that, by tax increases , exclusively on upper income Americans. In Europe, everyone who works, pays taxes and rates are generally higher at all income levels than they are in America. . The left in America, behaves as if all their social programs can be paid for by squeezing those in the top bracket to pay higher taxes. They are very wrong on this, which means they are either bad at math, or liars, or too lazy to do the analysis. In no case, is the let willing to challenge any program, once they are established. All spending is essential. All cuts, they argue are draconian, impacting the poor, the elderly, the middle class, and disproportionately, minorities. Can anyone identify any spending programs that President Obama has shown a willingness to cut, other than defense? Where are the $3 trillion in cuts he supposedly put on the table? The left is allergic to spending cuts in domestic programs. Several articles below on America’s new welfare state, and what it means:
Randall Hoeven on Obama’s spending binge. . His message- please just spend like Bush did . http://tinyurl.com/4xgy9ah
The very blue states, like Illinois, have been a proving ground for the spending excesses in Washington. How sweet a deal do public employees have in Illinois? Very sweet: http://tinyurl.com/42ajnhe
Dennis Prager on how big government impacts society’s moral character. The left like to thing they are better people, since they care for other people. Prager provide evidence of why this does not hold up. http://tinyurl.com/3wlvohp
Walter Russell Mead on how liberalism has failed those in urban America: http://tinyurl.com/5ww69ps
Noemie Emery on how the failed welfare state has led to bankruptcy and recriminations : http://tinyurl.com/3jpev76
Are you ready for 70% marginal tax rates? http://tinyurl.com/43j2bek
James Ceasar and John York on the success to date, and the unfinished business of the tea party- http://tinyurl.com/5uh9n9c
Sheldon Adelson is the Las Vegas casino operator who has been a supporter of the Republicans. Steve Wynn, is the casino opera , who has leaned in the other direction. Here Wynn tees off on how Obama has been terrible for business across the country.
http://tinyurl.com/3gucs7p
1. The goal of the left is to create enough entitlements, for enough people, that America’s two party system will become similar to those in Europe- where the essential components of the welfare state are never challenged any more. The quibbling between the parties is then only at the margins. The good society becomes an ordered society, with the rules and results , dictated by the bureaucrats. Obamacare, if not reversed, is likely to be the final nail in the coffin – creating a new class of tens of millions of people dependent on government. It will, of course, come at horrific cost- it will be jobs killing, and guarantee slower economic growth in the future, which will lower the average standard of living. It is likely to create demand driven inflation, which will be treated by the new classes of regulators through rationing, and price controls, which are very likely to drive physicians from their practice. And it is certain to be far more expensive than the CBO estimates for the legislation, moving up the day of reckoning for the nation’s spiraling out of control debt. The left will argue that the rich just need to pay their fair share. They will ignore the fact that the Bush tax cuts of 2001 removed almost half the population from the income tax roles, and Obamacare is financed at least half, and likely more than that, by tax increases , exclusively on upper income Americans. In Europe, everyone who works, pays taxes and rates are generally higher at all income levels than they are in America. . The left in America, behaves as if all their social programs can be paid for by squeezing those in the top bracket to pay higher taxes. They are very wrong on this, which means they are either bad at math, or liars, or too lazy to do the analysis. In no case, is the let willing to challenge any program, once they are established. All spending is essential. All cuts, they argue are draconian, impacting the poor, the elderly, the middle class, and disproportionately, minorities. Can anyone identify any spending programs that President Obama has shown a willingness to cut, other than defense? Where are the $3 trillion in cuts he supposedly put on the table? The left is allergic to spending cuts in domestic programs. Several articles below on America’s new welfare state, and what it means:
Randall Hoeven on Obama’s spending binge. . His message- please just spend like Bush did . http://tinyurl.com/4xgy9ah
The very blue states, like Illinois, have been a proving ground for the spending excesses in Washington. How sweet a deal do public employees have in Illinois? Very sweet: http://tinyurl.com/42ajnhe
Dennis Prager on how big government impacts society’s moral character. The left like to thing they are better people, since they care for other people. Prager provide evidence of why this does not hold up. http://tinyurl.com/3wlvohp
Walter Russell Mead on how liberalism has failed those in urban America: http://tinyurl.com/5ww69ps
Noemie Emery on how the failed welfare state has led to bankruptcy and recriminations : http://tinyurl.com/3jpev76
Are you ready for 70% marginal tax rates? http://tinyurl.com/43j2bek
James Ceasar and John York on the success to date, and the unfinished business of the tea party- http://tinyurl.com/5uh9n9c
Sheldon Adelson is the Las Vegas casino operator who has been a supporter of the Republicans. Steve Wynn, is the casino opera , who has leaned in the other direction. Here Wynn tees off on how Obama has been terrible for business across the country.
http://tinyurl.com/3gucs7p
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