RWNJ » Stimulus

The Government Can

admin — Thu, 03 Sep 2009 21:26:18 +0000

Another thing that speaks for itself. Enjoy!

Obama’s Budget Tightening Farce

admin — Mon, 20 Apr 2009 21:50:37 +0000

It’s official, Obama is asking his Cabinet to cut spending. Has he finally realized the importance of not putting the country into a tailspin of debt? Let’s evaluate…

Obama has asked for a reduction of $100 million. When we are talking about deficits in the Trillions, a few million is a simple drop in the bucket. AP puts this into perspective:

Less than one-quarter of the budget increase that Congress awarded to itself.

4 percent of the military aid the United States sends to Israel.

Less than half the cost of one F-22 fighter plane.

7 percent of the federal subsidy for the money-losing Amtrak passenger rail system.

1/10,000th of the government’s operating budgets for Cabinet agencies, excluding the Iraq and Afghan wars and the stimulus bill.

When you consider that the costs of borrowing the money for the latest “Stimulus” package is $100 million a day, does this effort amount to anything?

A Perspective on Debt

admin — Tue, 24 Mar 2009 12:47:31 +0000

I came across this debt ticker over at Marvelous Medley:

Just look at that number… $11 Trillion dollars and growing fast! A trillion is a large number, and a bit hard to wrap my head around, so I looked around for some comparisons. I came across this over at tysknews:

Trillion = 1,000,000,000,000.
The country has not existed for a trillion seconds.
Western civilization has not been around a trillion seconds.
One trillion seconds ago – 31,688 years – Neanderthals stalked the plains of Europe.

NPR gave this for comparison:

$1 Trillion would be enough money to buy about a 1,000 boxes of Girl Scout cookies for every person in the United States.

And here is a youtube video to give a bit more explaination:

It is hard to wrap one’s head around this number. Take the above, multiply it by 11. Now you have our current debt. Next year, we’ll be adding around $2 Trillion to that number. And we will continue to add Trillions to the debt every year until we get this out of control spending in check.

The United States GDP was just over $14 Trillion in 2008. Yes, our debt is nearly as much as our entire GDP! The interest payments on this debt is the third largest item on our budget at over $412 Billion. Now, throw in that the Federal Government alone is slated to spend over 27% of our GDP this year. Certainly someone other than me has to see the obsurdity in this.

WSJ: Public Confidence in Obama Dropping

admin — Fri, 13 Mar 2009 14:46:51 +0000

The Wall Street Journal is reporting that confidence in Obama is rapidly dropping. Obama’s numbers have now dropped to the point that they are lower than President Bush in this point in 2001. His net approval rating was as low as +6% this week according to Rasmussen. The article points out multiple signs of trouble in the polling data:

A third strongly disapprove of Obama’s performance.
Obama has lost nearly all Republican support and a large portion of Independant support.
Support is dropping more rapidly than other Presidents of the 20th and 21st centuries.
83% are concerned Obama’s policies will not improve the economy.
82% are worried about the growing deficit.
78% are concerned about inflation.
69% are worried about Government’s increasing role in the economy.
Less should have been spent on the stimulus according to a 3-to-1 margin.
Obama’s budget is opposed by a 46% to 41% margin.
Voters reject Pelosi’s idea of a second stimulus by a 2-to-1 margin.
The feeling is that the mortgage bailout will unfairly benefit the irresponsible by 48% to 36%.
45% do not have confidence in the direction Obama is taking.
Less than half suport increasing taxes for expanded health-insurance (17% less support than 1993).
Only 20% support the most recent bank bailout.

Cincinnati Tea Party Update

admin — Mon, 09 Mar 2009 14:30:24 +0000

The Cincinnati Tea Party is only 6 days away and I thought I’d give a few updates.

Over 4000 people have registered to attend (as of Sunday night)
The speaker list has grown as well:
Cincinnati Tea Party Founder Mike Wilson
Former Congressman Steve Chabot
Cincinnati City Councilman Chris Monzel
Hamilton Township Trustee Michael Munoz
Small Business Owner Harald Zieger
Secretary – UC College Republicans David Watkins
Concerned Taxpayer Théa Shoemake
Financial Planner Tom O’Brien
Media Consultant Mike Brenner
Those looking for parking, it is available directly underneath Fountain Square via entry from Vine Street and Walnut Street.
An official flyer is available for posting or handing out to friends.

Let’s hope for a big turnout and have our voices heard. Hope to see many of you there!

Jim Cramer: Followup on “Wealth Destruction”

admin — Thu, 05 Mar 2009 12:44:31 +0000

I found this followup from Jim Cramer (on his “Mad Money” show) regarding his comments that Obama is presiding over the “greatest wealth destruction by a President.” Cramer came out punching, making comments such as “Obama’s the one who knocked the whole darn thing down” and that Obama “might have some inside information that he’s done enough damage for now.” He even threw a shot mentioning “President Pelosi” when talking about the class warfare strategy that is in play.

This is typical Jim Cramer, full of enthusiasm and passion. If the White House wants another battle front (beyond Limbaugh), they’ve got a willing combatant in Cramer.

Cramer also has a written response available here.

Jim Cramer: “Greatest Wealth Destruction By a President”

admin — Wed, 04 Mar 2009 14:01:17 +0000

In an interview with Matt Lauer on NBC, CNBC Analyst Jim Cramer (who, I should point out, is not a Conservative) regarded Obama’s policies as an advancement of a “radical agenda” and pointed out that this was the “greatest wealth destruction by a President” that he’s seen.

Obama has shrugged off the steep decline in the stock market. He said, “What I am looking for is not the day-to-day gyrations of the stock market … but the long-term.” Apparently, he has missed the continued stock market slide (25% reduction since he was elected). He also stated, “The stock market is sort of like a tracking poll.” The Wall Street “poll” is speaking volumes on its opinion of the way the economy is heading. Given that the economy usually lags the market by 6 months, our economic future does look grim.

Perhaps we should move away from the agenda of restributing wealth, hiking taxes, and burying ourselves in even more debt. We need to do what is right for the economy. That includes business-friendly policies, lower taxes for all economic classes, and long-term job promotion. This new administration has had the opportunity to implement these types of policies, but instead has moved from one set of bad policies to another. In the end, it is the country that pays for this mistake.

WSJ: Obama Running Out of People To Blame

admin — Tue, 03 Mar 2009 19:31:05 +0000

The Wall Street Journal posted an opinion article today pointing out that President Obama is implementing policies that are slowing down, or even stopping, our recovery from this recession. After falling 4.24% yesterday, the Dow is now down over 25% since Obama was elected, its lowest level since 1997. The new administration’s policies of punishing business and rewarding failure is clearly having a detrimental effect.

The average length of a recession during the past fifty years is 11 months. The current recession has existed now for 15 months. Instead of focusing on promoting growth, Obama has focused on income transfers (tax credits to those who don’t pay taxes, mortgage bailout, etc). Now, there is even mention of reforming healthcare. While I can agree with Obama’s statement “There are times when you can afford to decorate your house, then there are times when you need to refocus on building its foundation,” I cannot understand why his actions are in direct opposition.

When the recovery occurs, it will not be because of Obama’s policies… it will be in spite of them. The market showed its opinion of the President’s proposed budget plan when it took a nose dive. It unfortunately seems that every time the administration mentions an action the market drops even further. Just today Orszag defended raising taxes in the middle of the recession. As those who make hiring decisions have less money, less people are hired. It is a fantastic way to stagnate the economy further.

Cincinnati Tea Party

admin — Fri, 27 Feb 2009 16:36:47 +0000

ARTICLE SET STICKY UNTIL EVENT:

I am getting a lot of traffic from search engines regarding this event. I want to be sure that anyone that is searching for this can find it easily.

Welcome to all of you that searched for the Cincinnati Tea Party info and came to this site. Stick around, check out the articles, post some comments, and come back! This is one of a small handful of political blogs in our area.

I have been informed that the Cincinnati Tea Party is planned for Sunday, March 15, 3PM – 5PM at Fountain Square. Check out the official website for more details. Former Congressman Steve Chabot will be speaking.

Take the opportunity to be vocal. Being a member of the silent majority is not enough. We need to show our compassion, state our case, and make it clear that we are unhappy with the path the Government is taking.

If you are a reader from outside the area, check out the American Tea Party list and participate in your local tea party.

Jindal’s Response to Obama

admin — Wed, 25 Feb 2009 13:58:22 +0000

It seems clear that the Republicans are trying to position Jindal to be the new face for the party. Though many on the left regard him as an Uncle Tom, Jindal clearly has a Conservative philosophy. My issue with him is that he badly needs to work on his delivery. For one, I wish someone would tie Jindal’s hands. He talks with his hands so much that it is distracting! He also needs to learn the art of the “dramatic pause” and use more vocal inflection.

It seems recent Republicans are horrible at speech delivery, especially when you consider that Reagan was an expert. In this day of style over substance (*cough* Obama *cough*), this is going to be a big problem for Republicans. His writers could also provide overwhelming examples of where similar proposals to the ones he mentions have worked in the past. The opportunity is there to charismatically and powerfully deliver the message, we just need someone to do it! Jindal needs to move away from the dry and monotone delivery and writing.

Focusing on content (which given the delivery was difficult to do), I am glad that Jindal admitted that the Republican Party screwed up and moved away from Conservative principles. He has kept a consistent message, now it is up to the Republicans to act according to that message. Reagan Conservatism was both successful and popular, why the Republicans moved away from that philosophy is anyone’s guess. The 2006 and 2008 elections were hopefully a wake up call that Jindal is stepping forward to answer.

If Jindal wants to make a run for President in 2012 (and I hope he does), he MUST work on his speech abilities. A well-delivered speech drives home the points in a memorable way. Honestly, this speech was difficult to concentrate on, let alone remember.

Republican response embedded below:

Obama Addresses Congress

admin — Wed, 25 Feb 2009 13:33:19 +0000

In a turnaround from the doom and gloom that Obama has spreading since taking office, he switched back to a more “hope” inspired speech. Unfortunately, it appears he is still going to push towards a Government-based solution. As a Conservative, I believe strongly that America is best when its citizens learn self-reliance. Government should strengthen its citizens, not itself.

Obama stated that he has identified $2 Trillion in savings over the next 10 years. Though the ten year forecast seems popular in Government, Obama truly only has control over his own term (4 years, possibly 8). Even so, $2 Trillion isn’t much more than the stimulus and mortgage bailout (well over $1 Trillion) which he’s spent in only his first month in office. Furthermore, Obama’s budget proposal seems to heavily depend upon tax increases on both corporations and business owners that will heavily affect the job market. Some in Congress will have the foresight to see the ill effects to the economy and will fight hard to prevent this mistake from occurring.

I am still concerned that he continues to push that his plans will “save or create 3.5 million jobs” as if it is a fact. His own economists stated: “It should be understood that all of the estimates presented in this memo are subject to significant margins of error…. Our estimates of economic relationships and rules of thumb are derived from historical experience and so will not apply exactly in any given episode. Furthermore, the uncertainty is surely higher than normal now because the current recession is unusual both in its fundamental causes and its severity.” It’s nice to have predictions, but the expectations are set high. Ideas similar to Obama’s that have been tried in the past have come up well short of their predicted values.

Obama’s Address in full is embedded below:

Rick Santelli Nails Mortgage Bailout

admin — Thu, 19 Feb 2009 16:48:46 +0000

Here is a video of Rick Santelli on CNBC. He gets vocal about Obama’s proposed $275 Billion (to be funded by more debt of course) mortgage bailout plan. Rick gets a ton of support from those on the trading floor in Chicago. He shouts out at one point “President Obama, are you listening?” It seems apparent that the backlash on Obama’s policies is growing.

Is This Why Obama Delayed Signing?

admin — Tue, 17 Feb 2009 00:33:34 +0000

I know, don’t rely on anything a politician says… Just a reminder that Obama promised 5 days between the time a bill hit his desk and the time any of them would be signed. Though in this case that means he wouldn’t sign the “stimulus” bill until late Wednesday, last I heard it will be signed on Tuesday.

Obama’s Fearmongering is an Art Form

admin — Mon, 16 Feb 2009 13:50:29 +0000

Bradley Schiller has stated in a Wall Street Journal opinion article today that Obama has turned his fearmongering into an art form. He has continually compared the current econonmic situation to the Great Depression. He has repeatedly said that action must be taken immediately or the economy may be unable to recover (yet he mysteriously is letting the bill sit on his desk until Tuesday… go figure). Honestly, he is invoking fear just as well as Bush did with Iraq.

While the economic situation is not rosy, it is far from The Great Depression but more like the Carter-era recession. Schiller points out that last year we shed 2.2% of the work force. 1981-1982 job force losses were also 2.2%. The Great Depression saw us lose 4.8% in 1930, 6.5% in 1931, and 7.1% in 1932. Our current job losses aren’t even in the ballpark. Current unemployment is 7.6%. The peak in the Carter-era depression was 10.8%. The peak during The Great Depression was 25.2%.

If you stick some evidence alongside the fearmongering, Obama seems to be stretching the evidence far futher than Bush ever did. Is this a trend Obama will continue? It certainly will have a negative effect on the economy as consumers aren’t likely to have their confidence boosted by these heavyhanded fear tactics from our President.

Boehner: Not One Member Has Read This Bill

admin — Fri, 13 Feb 2009 20:14:17 +0000

Rep Boehner (R-OH) said clearly what needed to be said. The fact that the Democrats backed out of a promise to leave for the public to review the bill was bad enough… but consider the fact that not a single member of the House had a chance to read the bill and yet voted on it. Yes, they voted for a bill that, when interest is added in, will cost the country $1 Trillion… Absolute obsurdity! By the way, check out the size of this bill when it is printed out.

Boehner also pointed out (not in video) that this bill will cost every American family approximately $10,000. The Government seems determined to find out if the way to get out of debt is to go further into it.