Uncategorized
U.S. Is Bankrupt and We Don’t Even Know It: Laurence Kotlikoff – Bloomberg
…
To put 14 percent of gross domestic product in perspective, current federal revenue totals 14.9 percent of GDP. So the IMF is saying that closing the U.S. fiscal gap, from the revenue side, requires, roughly speaking, an immediate and permanent doubling of our personal-income, corporate and federal taxes as well as the payroll levy set down in the Federal Insurance Contribution Act.
Such a tax hike would leave the U.S. running a surplus equal to 5 percent of GDP this year, rather than a 9 percent deficit. So the IMF is really saying the U.S. needs to run a huge surplus now and for many years to come to pay for the spending that is scheduled. It’s also saying the longer the country waits to make tough fiscal adjustments, the more painful they will be.
Is the IMF bonkers?
No. It has done its homework. So has the Congressional Budget Office whose Long-Term Budget Outlook, released in June, shows an even larger problem.
…
Read the rest here… U.S. Is Bankrupt and We Don’t Even Know It: Laurence Kotlikoff – Bloomberg.
A biased ruling on gay marriage in California – latimes.com
…
The Constitution envisioned a system in which the judiciary would serve to check the excesses of the legislative or executive branches. But today, federal judges have far exceeded their intended role, becoming little gods in our republic. They have lifetime appointments, and their only accountability is the potential for impeachment.
But in the history of our country, only 15 judges have been impeached by the House of Representatives. Of those, four were acquitted, seven were convicted, three resigned and one is still pending. In other words, Congress almost never removes federal judges. For all practical purposes, the checks and balances of the federal government no longer exist. The judiciary trumps. Our country is basically now run by judges.
Thomas Jefferson warned about this possibility in a Sept. 28, 1820, letter to William Jarvis: “You seem … to consider the judges as the ultimate arbiters of all constitutional questions; a very dangerous doctrine indeed, and one which would place us under the despotism of an oligarchy. Our judges are as honest as other men, and not more so … and their power [is] the more dangerous, as they are in office for life and not responsible, as the other functionaries are, to elective control. The Constitution has erected no such single tribunal, knowing that to whatever hands confided, with corruptions of time and party, its members would become despots.
“The Founding Fathers understood the selfish and sinful nature of man and therefore divided the government up so that no one branch would be all powerful over the other branches or over the American people. What we have today is judicial tyranny and exactly what Jefferson feared. Unless Congress asserts its constitutional power of impeachment, judges will continue to impose their personal opinions on whatever controversy is before them, regardless of what the Constitution does or does not say.
…
via A biased ruling on gay marriage in California – latimes.com.
Harry Reids Top Five Stimulus Solutions
Runaway
Check out this video on YouTube:
The Obsolescence of Barack Obama – WSJ.com
The house passes 26 billion in tax-payer funded labor union bailouts and Democrat 2010 campaign financing
DNC/Obama Asks Drones to Videotape All Republican Candidates in Hopes They’ll Make a Joe Biden Gaffe
So, we know it’s not Democrat-like of us to have jobs and be busy so we hardly have time to be an “activist” (aka unemployed), but if you have the time, wouldn’t turnabout be fair play? On second thought, we’re better than them. No question. This disgusting strategy that is the farthest thing from believing even their own rhetoric is proof positive that there are no ideas and no ethics in the Progressive/Liberal/Democrat camp.
The Democratic National Committee today is launching a new effort to allow citizens on their side “keep track” of Republican candidates on every ballot nationwide, in hopes of a voter capturing a so-called “macaca moment.” The DNC’s latest effort to influence the midterm elections, called the Accountability Project, will act as a database of campaign events and, Democrats hope, every gaffe, goof and outlandish policy position.
The task: take a camera to a political event and “hold Republicans accountable for misleading claims, lies, and unseemly behavior,” the DNC says. The site will allow for uploads but also provide clips for download so voters can make their own mashups or ads.
It’s the brainchild of DNC Research Director Shauna Daly, who will announce the supporters in an email today obtained in advance by TPMDC. The email cites Sen. Geogre Allen’s (R-VA) defeat in 2006 thanks to a camera catching him calling an Indian American man “macaca.”
Daly, who worked in the White House general counsel’s office, now helps dig up dirt on the GOP and spread the word.
DNC Invites Voters To Capture The ‘Macaca Moment’ Of 2010 | TPMDC.
Here is a video of some drones video taping continuously is hopes to catch anyone saying anything in Nan Hayworth’s campaign office in New York’s 19th District.
The Obama presidency increasingly resembles a modern-day Ancien Regime, extravagant and out of touch with the American people
House Republicans Suggest Names for Democrats’ Untitled, $26-Billion ‘Second Stimulus’ Bill
…
Boehner on Monday offered 10 possible names for what he called the “union-boss bailout” bill:
- Save Our ‘Stimulus’ (SOS) Act
- ‘Recovery Summer’ Bailout Act (Cash for Flunkers)
- Delivering Unions a Major Boost (DUMB) Act
- Helping Election Expenditures, Hurting American Workers (HEEHAW) Act
- Democracy is Strengthened by Clearly Leveraging and Optimizing Special-Interests’ Effectiveness (DISCLOSE) Act
- Holding Union Bosses Over Until Card Check Act
- Rescuing Incumbent Democrats Is Costly (RIDIC) Act
- Summertime Cash for Union Bosses Instead of Spending Cuts for Taxpayers Act
- Frivolous Act of Ineffective Largesse (FAIL) Act
- Naming These Things Hasn’t Gotten Us Anywhere, So Why Bother? Act
Boehner says the Republican Party is listening to the American people and is “offering better solutions to make government more responsive and accountable to the people it serves.”
…