Something To Think About…Walter Williams; Redistribution of Income

B.S. Report–The Great Economist, Walter Williams talks about government theft of your money.

Freedom Quote Of The Day

“The whole of the Bill (of Rights) is a declaration of the right of the people at large or considered as individuals….It establishes some rights of the individual as unalienable and which consequently, no majority has the right to deprive them of.”

–Albert Gallatin, New York Historical Society, October 7, 1789

CBO Says Obama Budget Will Cause Unsustainable Deficits

Obama Budget Awash In Red Ink

WASHINGTON (AP) — President Barack Obama’s budget would generate deficits averaging almost $1 trillion a year over the next decade, according to the latest congressional estimates, significantly worse than predicted by the White House just last month.

The Congressional Budget Office figures, obtained by The Associated Press Friday, predict Obama’s budget will produce $9.3 trillion worth of red ink over 2010-2019. That’s $2.3 trillion worse than the White House predicted in its budget.

Obama budget is "unsustainable."

Worst of all, CBO says the deficit under Obama’s policies would never go below 4 percent of the size of the economy, figures that economists agree are unsustainable. By the end of the decade, the deficit would exceed 5 percent of gross domestic product, a dangerously high level.

The latest figures, even worse than expected by top Democrats, throw a major monkey wrench into efforts to enact Obama’s budget, which promises universal health care for all and higher spending for domestic programs like education and research into renewable energy.

The dismal deficit figures, if they prove to be accurate, inevitably raise the prospect that Obama and his allies controlling Congress would have to consider raising taxes after the recession ends or paring back his agenda.

But without referencing the figures, Obama insisted on Friday that his agenda is still on track.

(Read more.)

B.S. Report–Watch this explanation of Obama budget savings; it just fills you with confidence and pride…NOT:

Capitalism Increases Wealth, Promotes Growth, And Improves Standard of Living…Besides The Democratic Party And Obama, Who Doesn’t Know That?

Capitalism is the engine for creating wealth.

From Moneynews.com

Economists:  Capitalism Should Be Appreciated

Guess what: Capitalism works, write top University of Chicago economists Gary Becker and Kevin Murphy in a Financial Times editorial.

Numbers show capitalism prompted an enormous growth of worldwide wealth in recent decades. Even if the slowdown means GDP loses ground this year, as the OECD now predicts, we’re still way ahead of the game compare to only a few years ago.

In simple terms, the world is much less poor than it used to be, and there’s no erasing those gains.

World real gross domestic product grew by about 145 percent between 1980 and 2007, they note. Chinese and Indian incomes skyrocketed after those countries adopted market-based reforms.

Even if a recession slashes 10 percent off world GDP long-term capitalism-induced growth in prosperity would be substantial.

Legislators and regulators should appreciate those benefits, they warn.

The widespread view to do something, anything, to boost the economy, may violate the oath doctors take: First, do no harm. Government interventions hurt rather than help by increasing risk and uncertainty, Becker and Murphy warn.

“The government has overridden contracts and rewarded many of those whose poor decisions helped create the mess,” the economists write. “It proposes to override even more contracts.”

Political agendas will replace sound business judgments in government-owned companies, causing distorted decision-making, they warn.

“While such dramatic measures may be expedient, they are likely to have serious adverse consequences.”

A bill that would substantial increase taxes of employees at companies receiving TARP funding is an example of political expediency. Under the proposed law, banks would be forced to risk losing top employees or return TARP funds, thus crippling their lending ability.

“I honestly think TARP banks have a grave risk of losing just the people they need to keep to help get them out of trouble,” said Pat Wieser, an executive recruiter, told The Washington Post.

B.S. Report–This is what President Obama doesn’t like and would like to destroy:

Connecticut Biologist Warned That “Travis The Chimp” Was Dangerous

“Travis The Chimp” Was A Danger, Warned Biologist

HARTFORD, Conn. (AP) — A Connecticut biologist warned state officials nearly five months ago that a 200-pound chimpanzee who mauled a woman last month could seriously hurt someone if he felt threatened, according to a memo released to state lawmakers Friday.

B.S.–This was never “Travis The Chimp”:

The biologist also said the chimp’s owner violated state law, and ended her note with the prophetic warning: “I would like to express the urgency of addressing this issue. It is an accident waiting to happen.”

B.S.–He Was More Like This:

The two-page document was written on Oct. 28, 2008 by an unnamed Department of Environmental Protection biologist and given to senior staff at the agency’s Bureau of Natural Resources.

It was discovered in an ongoing internal agency review prompted by the mauling incident.

“The animal has reached adult maturity, is very large, and tremendously strong,” the memo says. “I am concerned that if he feels threatened or if someone enters his territory, he could seriously hurt someone.”

The biologist said it was unclear whether the chimp’s enclosure was strong enough to secure the animal named Travis, owned by Sandra Herold of Stamford and kept at her home.

Neither Herold nor her attorney immediately returned telephone messages seeking comment Friday evening.

Charla Nash was critically injured Feb. 16 when she was attacked by the 200-pound chimp. Nash’s attorneys say the 55-year-old woman lost her hands, nose, lips and eyelids and may be blind and suffering brain damage after the attack. She is being treated at the Cleveland Clinic.

"No, you're wrong...I'm as docile as a lamb."

Amazing…Some People Still Wondering Whether Obama Believes In Socialism; What Does He Have To Do To Prove It?

Obama Wants Big Government…Duh

WASHINGTON (Reuters) – A public furor over big bonuses paid by firms bailed out with U.S. taxpayer money is fueling resistance to President Barack Obama’s ambitious plans to extend government intervention in the U.S. private sector.

Republican opponents say his commitment of huge sums to try to revive the ailing economy is driven by a philosophical belief in greater government intrusion in many areas, from healthcare to education, dubbing it socialism.

B.S.–“Dubbing it socialism?”  Socialism has an actual definition:  State ownership of industry, capital, and the means of production.  Isn’t this exactly what Obama has been doing?

Obama is pursuing these policies just 13 years after President Bill Clinton, a fellow Democrat, disarmed Republican opponents by declaring: “The era of big government is over.”

As the enormous cost of the Obama’s effort to stimulate the economy grows, many are weighing just how far government should be extending its powers.

“We’re in the midst of a huge political battle, which is being obscured behind a financial crisis,” said Bruce Kogut, professor of ethics and corporate governance at Columbia University. “If the financial crisis wasn’t here we’d be having this battle anyway.”

“The question I think we need to figure out as a country is what is the proper role of government?” said David Moss, professor of economic history at Harvard Business School.

B.S.–This is absolutely unbelievable!  The question is what is the proper role of government?  No, that’s not the question…because, for us here in America, that question was answered with the ratification of the Constitution back in 1789.

We know, to a large extent, what our Founders and Framers wanted the role of government to be.  It’s politicians that don’t want to follow the rule of law and abide by the Constitution, because it’s the Constitution that enumerates their powers and limits their authority.

Regulation of the financial system to contain risk has not been adequate or effective, he said. “So on the financial front we want to try to find a Goldilocks scenario of not too much and not too little.”

Obama administration officials have had to fend off accusations they were too easy on the financial industry, after the insurance giant AIG paid out millions of dollars in bonuses after accepting billions of dollars in taxpayer funds.  (Read more.)

B.S. Report–Notice how this story is written with a kind, kid-gloves treatment of Socialism, as if it’s not inferior to capitalism–but merely just different.  Forget about all the hundreds of millions of people murdered by Socialism, or those whose lives were destroyed.

Yes, in the U.S. we just “happen” to believe in individual rights and personal freedom (or we used to), while many of you guys in Europe or anywhere else just “happen” to believe that the most important decisions in your life should be made by a large, national, controlling State.  It’s not a question of “better” or “worse” …but it’s just “different.”  And vive la difference!

The fact that we’re lapsing into Socialism is a product of apathy and ignorance on the part of us citizens.  Ignorance of our Constitution and what it means, and how it has protected us from charismatic demagogues in the past.

Add to that the misunderstanding of capitalism and how it’s capitalism that is precisely responsible for our ever-increasing standard of living.  Yet we demonize capitalism and the profit motive as if it’s something we should be ashamed of–instead of proud.

No system is perfect; there is no utopia here on Earth.  But look around the world and ask yourself which countries are responsible for feeding the world’s hungry and clothing the world’s poor?

If you said those that rely on capitalism go to the head of the class. And it’s to our credit if we still believe that Socialism is a dirty word here.

Republican Sen. Gregg Says Obama Budget Will Bankrupt The Country

Senator Judd Gregg

WASHINGTON – The top Republican on the Senate Budget Committee says the Obama administration is on the right course to save the nation’s financial system.

But Sen. Judd Gregg of New Hampshire also says President Barack Obama’s  massive budget proposal will bankrupt the country.

Gregg says he has no regrets in withdrawing his nomination to become commerce secretary. He pulled out after deciding he could not fully back the administration’s economic policies.

The senator said Obama’s spending plan in the midst of a prolonged recession would leave the next generation with a country too expensive to live in.

Gregg appeared Sunday on CNN’s “State of the Union.”

B.S. Report–What about the non-partisan Congressional Budget Office (CBO)?  They have already come out with a statement saying that Obama’s budget is “unsustainable.”

Orlando “Tea Party” Draws Thousands

Singer Lloyd Marcus told the crowd assembled in Lake Eola Park on Saturday that he was going to give them his take on the first days of the Obama administration.

Then he shrieked.

That pretty much summed up the mood in the park Saturday afternoon, when more than 4,000 people attended the Orlando Tea Party, a conservative rally aimed at expressing discontent with Washington.

“This is maybe the greatest single gathering of God-fearing patriots in the history of Orlando, Florida,” local conservative radio host Bud Hedinger, who emceed the event, told the crowd.

The attendees, many of whom said they’d heard about the rally on Hedinger’s radio show, brandished flags and homemade signs bearing slogans such as “Repeal the pork or our bacon is cooked” and “Obama lied, liberty died.”

No amount of pork is enough for Obama.

“We’re really scared about what’s happening in our country,” said Debby Whisenand, 71, of Largo in Pinellas County. She waved a sign that read “The problem with socialism is that you eventually run out of other people’s money” on one side, and “You can’t blame Bush anymore” on the other.  (Read more.)

‘Obama The Great’ Turning Out To Be ‘The Great Gaffesby’

Obama’s Gaffes Beginning To Add Up

For a man known as a great communicator, President Barack Obama can put his foot in his mouth from time to time.

Although often deliberate and meticulous in his speaking style, Obama can also be prone to gaffes when he is relaxed or trying to have fun.

Keenly aware of the stage, the coolly confident Obama can drift into trouble during unscripted moments.

The most recent slip-up came Thursday evening as he sat on Jay Leno‘s couch and offered an ill-considered comment during a “Tonight Show” appearance. After telling Leno he had scored 129 in a recent bowling game, the president offered what he intended as self-deprecating humor. “It’s like—it was like Special Olympics, or something,” he said.

The timing of the gaffe is less than ideal for Obama, who has been subject to media teasing in recent weeks for his extensive use of a teleprompter.

Before the Leno interview had even aired, the White House apologized for the comment. As Obama flew back to Washington on Air Force One, he called Tim Shriver, chairman of the Special Olympics, to say he was sorry.  (Read more.)

B.S. Report–Here’s an Obama joke going around the internet. This isn’t a genuine Obama gaffe but, after seeing what he’s capable of, it suddenly doesn’t seem so far-fetched.

Obama Joke

The Department of Defense briefed the President this morning.  They told President Obama that 2 Brazilian soldiers were killed in Iraq.  To everyone’s surprise, all the color drained from the President’s face.  Then he collapsed onto his desk, visibly shaken, almost in tears.  Finally, he composed himself and asked, “Just how many is a brazilian?”

This is especially funny since he obviously has no understanding of a trillion, or a billion, either.

Today’s Birthdays

Born on this day, March 22nd

1887–Chico (Leonard) Marx; comedian, the piano-playing Marx brother.

1912–Karl Malden; actor in movies and TV, “Streets of San Francisco.”

1920–Ross Martin; actor, “The Wild, Wild West.”

1920–Werner Klemperer; actor, “Hogan’s Heroes.”

1923–Marcel Marceau; French mime actor.

1930–Pat Robertson; TV evangelist.

1930–Stephen Sondheim; composer, “Send in the Clowns,” “A Little Night Music.”

1931–William Shatner; actor, “Star Trek,” “Boston Legal.”

1943–George Benson; singer, guitarist, “This Masquerade.”

1952–Bob Costas; Sportscaster.

1955–Lena Olin; actress. “Havana.”

1957–Stephanie Mills; singer, actress, “The Wiz.”

1959–Mathew Modine; actor, “Full Metal Jacket.”