YouTube – Pelosi to NRCC: ‘I’m In My Place. Im the Speaker of the House.’.
Democrat Congress
Rep. Bachmann Exposes Federal ACORN Refunding
Democrats’ New Worry: Their Own Rich Voters – WSJ.com
A glimmer of hope…
A group of Democrats elected in recent years from some of the country’s richest congressional districts have emerged as a stumbling block to raising taxes on the wealthy to pay for President Barack Obama’s ambitious health-care overhaul just as the plan has begun to meet increasing resistance over its cost.
A Reckless Congress – WSJ.com
The level of anger should be rising. These clowns need to be out before this goes through. Call your senators.
Say this about the 1,018-page health-care bill that House Democrats unveiled this week and that President Obama heartily endorsed: It finally reveals at least some of the price of the reckless ambitions of our current government. With huge majorities and a President in a rush to outrun the declining popularity of his agenda, Democrats are bidding to impose an unrepealable European-style welfare state in a matter of weeks.
A Reckless Congress – WSJ.com
Mr. Obama’s February budget provided the outline, but the House bill now fills in the details. To wit, tax increases that would take U.S. rates higher even than most of Europe. Yet even those increases aren’t nearly enough to finance the $1 trillion in new spending, which itself is surely a low-ball estimate. Meanwhile, the bill would create a new government health entitlement that will kill private insurance and lead to a government-run system.
It’s Now or Never on Nationalized Health Care – HUMAN EVENTS
One of the most basic precepts of medicine is that you cannot effectively treat the problem until you get the diagnosis right. Yet Democrats have terribly misdiagnosed the disease in American health care. As with nearly everything, they have decided the problem in our health care delivery system is a shortage of government intervention.
via It’s Now or Never on Nationalized Health Care – HUMAN EVENTS.
FOXNews.com – Exclusive: Frank Talk from Barney’s Foe – Greta Van Susteren | On The Record With Greta
This is a great interview with the Harvard law student who dared ask Barney Frank how he might be responsible for the Fannie/Freddie fiasco.
CNBC: Obama Declares War on Investors, Entrepreneurs, Businesses, And More
Must read on CNBC (I’m surprised too, though to be fair Larry Kudlow often has intelligent things to say)…
Let me be very clear on the economics of President Obama’s State of the Union speech and his budget.
He is declaring war on investors, entrepreneurs, small businesses, large corporations, and private-equity and venture-capital funds.
That is the meaning of his anti-growth tax-hike proposals, which make absolutely no sense at all — either for this recession or from the standpoint of expanding our economy’s long-run potential to grow.
Raising the marginal tax rate on successful earners, capital, dividends, and all the private funds is a function of Obama’s left-wing social vision, and a repudiation of his economic-recovery statements. Ditto for his sweeping government-planning-and-spending program, which will wind up raising federal outlays as a share of GDP to at least 30 percent, if not more, over the next 10 years.
…
Study after study over the past several decades has shown how countries that spend more produce less, while nations that tax less produce more. Obama is doing it wrong on both counts.
And as far as middle-class tax cuts are concerned, Obama’s cap-and-trade program will be a huge across-the-board tax increase on blue-collar workers, including unionized workers. Industrial production is plunging, but new carbon taxes will prevent production from ever recovering. While the country wants more fuel and power, cap-and-trade will deliver less.
Read the rest here. The closing is worth posting here though…
There is a growing sense of buyer’s remorse. Well then, do conservatives dare say: We told you so?
MUST WATCH: Jim Demint on Spending Bill
Modified Mortgage Re-Default Rate More Than 50%
The Comptroller of the Currency issued the following report regarding mortgages that were modified in 1Q 2008 in order to supposedly help the homeowners stay in their homes. The results are dismal. Yet I’m sure our President-Elect and Democrat Congress will push forward with plans to do this on a large scale, backed by government (our) $’s.
WASHINGTON — Comptroller of the Currency John C. Dugan said today that new data shows that more than half of loans modified in the first quarter of 2008 fell delinquent within six months.
“After three months, nearly 36 percent of the borrowers had re-defaulted by being more than 30 days past due. After six months, the rate was nearly 53 percent, and after eight months, 58 percent,” the Comptroller said in remarks at the Office of Thrift Supervision’s National Housing Forum today.
Mr. Dugan spoke during a panel discussion with OTS Director John Reich, Federal Reserve Board Vice Chairman Donald Kohn, FDIC Chairman Sheila Bair, and Federal Housing Finance Agency Director James Lockhart.
A key question, Mr. Dugan said, is why is the number of re-defaults so high? “Is it because the modifications did not reduce monthly payments enough to be truly affordable to the borrowers? Is it because consumers replaced lower mortgage payments with increased credit card debt? Is it because the mortgages were so badly underwritten that the borrowers simply could not afford them, even with reduced monthly payments? Or is it a combination of these and other factors?”
Read the full report here.