There is a distinctly Titanic-like feel to the Obama presidency and it’s not hard to see why. The most left-wing president in modern American history has tried to force a highly interventionist, government-driven agenda that runs counter to the principles of free enterprise, individual freedom, and limited government that have made the United States the greatest power in the world, and the freest nation on earth.This, combined with weak leadership both at home and abroad against the backdrop of tremendous economic uncertainty in an increasingly dangerous world, has contributed to a spectacular political collapse for a president once thought to be invincible. America at its core remains a deeply conservative nation, which cherishes its traditions and founding principles. President Obama is increasingly out of step with the American people, by advancing policies that undermine the United States as a global power, while undercutting America’s deep-seated love for freedom.
Economy
Rewriting Fannie Mae History – WSJ.com
So when Mr. Raines says that “the cause of the financial problems for Fannie and Freddie was bad decisions, not their government sponsored status,” well, let’s just say he’s not telling the whole story.
UC Tuition Hikes and Public Employee Pensions – WSJ.com
In 1999, the Democratic legislature ran a reckless gamble that makes Wall Street's bankers look cautious. At the top of a bull market, they assumed their investment returns would grow at a 8.25% rate in perpetuity—equivalent to assuming that the Dow would reach 25,000 by 2009—and enacted a huge pension boon for public-safety and industrial unions.
The bill refigured the compensation formula for pension benefits of all public-safety employees who retired on or after January 1, 2000. It let firefighters retire at age 50 and receive 3% of their final year's compensation times the number of years they worked. If a firefighter started working at the age of 20, he could retire at 50 and earn 90% of his final salary, in perpetuity. One San Ramon Valley fire chief's yearly pension amounted to $284,000—more than his $221,000 annual salary.
In 2002, the state legislature further extended benefits to many nonsafety classifications, such as milk and billboard inspectors. More than 15,000 public employees have retired with annual pensions greater than $100,000. Who needs college when you can get a state job and make out like that?
via UC Tuition Hikes and Public Employee Pensions – WSJ.com.
James M. Peaslee: Tax Penalties and the Health-Care Bill – WSJ.com
Under current law, taxpayers who lose an argument with the IRS can generally avoid penalties by showing they tried in good faith to comply with the tax law. In a broad range of circumstances, the health-care bill would change the law to impose strict liability penalties for income-tax underpayments, meaning that taxpayers will no longer have the luxury of making an honest mistake. The ability of even the IRS to waive penalties in sympathetic cases would be sharply curtailed.
via James M. Peaslee: Tax Penalties and the Health-Care Bill – WSJ.com.
John Mackey: The Whole Foods Alternative to ObamaCare – WSJ.com
While we clearly need health-care reform, the last thing our country needs is a massive new health-care entitlement that will create hundreds of billions of dollars of new unfunded deficits and move us much closer to a government takeover of our health-care system. Instead, we should be trying to achieve reforms by moving in the opposite direction—toward less government control and more individual empowerment. Here are eight reforms that would greatly lower the cost of health care for everyone:
Read the whole article here… John Mackey: The Whole Foods Alternative to ObamaCare – WSJ.com.
Obama’s own words, wants private healthcare gone!
Support Slips for Health Plan – WSJ.com
In the new poll, conducted July 24 to July 27, 42% called it a bad idea while 36% said it was a good idea.
Among those with insurance, the proportion calling the plan a bad idea rose to 47% from 37%.
The declining popularity of health-care overhaul appeared to be fueled by rising anxiety over the federal budget deficit and concerns over the role of government in determining personal medical decisions.
Conyers Sees No Point in Members Reading 1,000-Page Health Care Bill…
House healthcare talks break down in anger
The seven Blue Dogs on the Energy and Commerce Committee stormed out of a Friday meeting with their committee chairman, Henry Waxman (D-Calif.), saying Waxman had been negotiating in bad faith over a number of provisions Blue Dogs demanded be changed in the stalled healthcare bill.
“I’ve been lied to,” Blue Dog Coalition Co-Chairman Charlie Melancon (D-La.) said on Friday. “We have not had legitimate negotiations.
via TheHill.com.
Urine Test for Welfare Recipients – There Oughtta Be a Law
Here’s a good common sense email going around…
THE JOB – URINE TEST
Like a lot of folks in this state, I have a job. I work, they pay me.. I pay my taxes and the government distributes my taxes as it sees fit. In order to get that paycheck, I am required to pass a random urine test with which I have no problem. What I do have a problem with is the distribution of my taxes to people who don’t have to pass a urine test.
So here is my Question. Shouldn’t one have to pass a urine test to get a welfare check because I have to pass one to earn it for them?
Understand, I have no problem with helping people get back on their feet. I do, on the other hand, have a problem with helping someone sitting on their rump–doing drugs, while I work. . . . Can you imagine how much money the state would save if people had to pass a urine test to get a public assistance check?
We could title that program, ‘Urine or You’re Out’.