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A spending and a revenue issue.

Posted by: Barthélemy Barbancourt

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The New York Times has a highly biased chart that seems to show that Bush spent way more than Obama. The chart I have posted above shows that this is complete bullshit.

Look closely and you will see the huge divide between revenues and expenses starts with the Pelosi-Reid Congress. Their policies not only increased the size of government, they also reduced revenues with their anti-business agenda.


Simple Math

Posted by: Barthélemy Barbancourt

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Obama's 2012 Budget - $3.729 trillion,

Estimated Deficit $1.6 Trillion

Debt as percentage of GDP: 105.32%


In early 2001, the Congressional Budget Office projected that the USA will accumulate a total of $5.6 trillion in budget surpluses from 2002 through 2011, but the government instead racked up $6.2 trillion in new debt in this very time. This is an $11.8 trillion swing in a mere ten years.

The CBO works with numbers available at the time of the calculations without factoring in potential troubles such as a 9/11 Terror Attack, business corruption and so on. These eventualities were not considered when the agency projected the trillions in surpluses a decade ago. Regardless and for what it is worth, here is how the $12.03 trillion* turnaround happened according to the CBO (the numbers are approximate):

 30.6% of the turnaround took place in the Bush Republican Years (2001 through 2006) with an annual average of $612 billion.

15.2% took place in the Bush Democrat-controlled years (2007 and 2008) with an annual average of $914 billion.
54.1% took place since Obama became President (in early 2009) with an annual average of $2.167 trillion.

So the blame for a $12 trillion swing is 31% the fault of Bush and the Republicans over 6 years. 15% was Bush-Pelosi and Reid over 2 years and 54% is Obama's fault over 2 years.

I'd say that is about right, Bush and the Republicans spent too much, but they didn't go insane. Pelosi and Reid made things worse, but it took Obama for the process to go completely ballistic.

How can anyone wonder why people are sick of government spending?

Give Greece What It Deserves: Communism

Posted by: Barthélemy Barbancourt

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Once in a great while an opportunity comes along to deliver justice to a people, giving them what they truly deserve. Greece’s time has come.

What the world needs, lest we forget, is a contemporary example of Communism in action. What better candidate than Greece? They’ve been pining for it for years, exhibiting a level of anti-capitalist vitriol unmatched in any developed country. They are temperamentally attuned to it, having driven all hard working Greeks abroad in search of opportunity. They pose no military threat to their neighbors, unless you quake at the sight of soldiers marching around in white skirts. And they have all the trappings of a modern Western nation, making them an uncompromised test bed for Marxist theories. Just toss them out of the European Union, cut off the flow of free Euros, and hand them back the printing plates for their old drachmas. Then stand back for a generation and watch.

They crushed the concept of private property long ago under the burden of environmental, cultural, and social regulations that govern land use. Wouldn’t it be instructive to let them have a go at building a workers’ paradise to remind us what state enforced equality looks like?


The poor in America aren't very poor.

Posted by: Barth��lemy Barbancourt

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As scholar James Q. Wilson has stated, “The poorest Americans today live a better life than all but the richest persons a hundred years ago.”[3] In 2005, the typical household defined as poor by the government had a car and air conditioning. For entertainment, the household had two color televisions, cable or satellite TV, a DVD player, and a VCR. If there were children, especially boys, in the home, the family had a game system, such as an Xbox or a PlayStation.[4] In the kitchen, the household had a refrigerator, an oven and stove, and a microwave. Other household conveniences included a clothes washer, clothes dryer, ceiling fans, a cordless phone, and a coffee maker.

The home of the typical poor family was not overcrowded and was in good repair. In fact, the typical poor American had more living space than the average European. The typical poor American family was also able to obtain medical care when needed. By its own report, the typical family was not hungry and had sufficient funds during the past year to meet all essential needs.


Trickle up economics

Posted by: Barthélemy Barbancourt

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Thomas Sowell clarifies the confusion of Trickle down economics and why, even though misnamed, the policy creates jobs.

The very idea that profits "trickle down" to workers depicts the economic sequence of events in the opposite order from that in the real world. Workers must first be hired and paid before there is any output produced to sell for a profit, and independently of whether that output subsequently sells for a profit or at a loss.


Why there are no new jobs

Posted by: Barthélemy Barbancourt

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• Boeing's Jim McNerney, who in the Wall Street Journal last May called Obama's handpicked National Labor Relations Board's suit against his company a "fundamental assault on the capitalist principles that have sustained America's competitiveness since it became the world's largest economy nearly 140 years ago."

• Intel's Paul Otellini, who told CNET last August that the U.S. legal environment has become so hostile to business that there is likely to be "an inevitable erosion and shift of wealth, much like we're seeing today in Europe — this is the bitter truth."


Why the economy won't recover next year.

Posted by: Barthélemy Barbancourt

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Steve Wynn lets loose on Obama and in the process shows why businesses will put off hiring until after the 2012 elections

..And I'm saying it bluntly, that this administration is the greatest wet blanket to business, and progress and job creation in my lifetime. And I can prove it and I could spend the next 3 hours giving you examples of all of us in this market place that are frightened to death about all the new regulations, our healthcare costs escalate, regulations coming from left and right. A President that seems, that keeps using that word redistribution. Well, my customers and the companies that provide the vitality for the hospitality and restaurant industry, in the United States of America, they are frightened of this administration.And it makes you slow down and not invest your money. Everybody complains about how much money is on the side in America.


Great "great" books

Posted by: Barthélemy Barbancourt

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OK, I know I have done this before but what "great" books did you read and think, yeah that was pretty great. I got a Nook for Christmas and I'm working through classics that I have never read.

Liked:

THE GREAT GATSBY by F. Scott Fitzgerald


Why starving the beast is the only solution

Posted by: Barthélemy Barbancourt

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Liberals, moderates and a few "conservatives" wonder why so many people have come to an attittude of "starve the beast" when it comes to our state and local governments. Here is a great example of why if you don't think we need to starve the beast, you're not paying attention.

The National Institutes of Health (NIH) subsidized a study attempting to find out if a gay man’s penis size has any correlation with his sexual health.

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Out of Touch Liberalism

Posted by: Barthélemy Barbancourt

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As someone once laid off from a job, I feel tremendous compassion for state employees who were thrown out of work by the government shutdown. Losing a job is horrible. Losing it because politicians won't work together is maddening.

The trouble with layoffs is you never know how long they will last. The sudden loss of income produces more anxiety than most people can imagine.


Letter of the Day (and it's not from Ed)

Posted by: JW of Minnesota

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Today's fun letter of the day sheds more light into the big brother mindset, as well as highlights the huge flaws in their conclusions. The author, a professor at the HHH School, Law School, and Applied Econ School at the U of M, lays out his argument for more sin taxes on soda pop and booze. Let's have at it:

While poor people may smoke, drink and engage in other unhealthy behavior more than the rich (including food choices leading to obesity), causing such fees to be regressive, these decisions are voluntary and consistent with a Republican free-to-choose ideology.

Yes, free-to-choose is consistent. But feel-good taxation is not consistent with conservative thinking.


Tell a liberal that Social Security is broke and they will reply that Social Security has a $2.6 trillion trust fund.

President Obama’s budget director, Jack Lew, explained all this last February in USA Today:


A liberal learns the law of unintended consequences

Posted by: Barthélemy Barbancourt

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Talk to any legislative old-timer, and you'll hear the same refrain: The Legislature is just not the collegial place it used to be, where friendships and alliances were forged across the aisle during informal social settings.

It's almost hard to remember, but there was a time when receptions for legislators were held almost weekly, sponsored by this interest group or that, bringing legislators and staff together over a beer and culinary delights like mini-wieners on toothpicks.


Too Much Government

Posted by: Barthélemy Barbancourt

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Minnesota's state government shutdown is causing a big problem for brewing giant MillerCoors.

The state has told MillerCoors it needs to pull its products from stores, bars and restaurants statewide because of a licensing problem caused by the shutdown.


During his speech at Ave Maria University’s commencement exercises in Naples, Fla., the Rev. Robert McTeigue, S.J., a philosophy professor and director of discernment there, encouraged students to respect the people who had paid for their education, or who had otherwise supported it and them. Give them feedback. Show them gratitude. Demonstrate its relevance.

Father McTeigue also encouraged three bold things — three things that, outside the campus of Ave Maria, may sound not only radical but insane. He encouraged closed-mindedness, judgmentalism, and intolerance.


$1 Trillion in new taxes will not create jobs!

Posted by: Barthélemy Barbancourt

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So the fondest Washington hopes for a grand debt-limit deal have broken down over taxes. House Speaker John Boehner said late Saturday that he couldn't move ahead with a $4 trillion deal because President Obama was insisting on a $1 trillion tax increase, and the White House quickly denounced House Republicans for scuttling debt reduction and preventing "the very wealthiest and special interests from paying their fair share."

Wow!, Just wow. Obama just had one of the most dismal jobs reports imaginable and he wants to kill more jobs with higher taxes. This guy is certifiably insane. Let's look at a few other job killing taxes Barry O has pushed onto American businesses.

• Starting in 2013, the bill adds an additional 0.9% to the 2.9% Medicare tax for singles who earn more than $200,000 and couples making more than $250,000.


Obama Failed, Millions Suffer

Posted by: Barthélemy Barbancourt

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For the second month in a row, employers added a dismally small number of jobs, showing that the United States economy is barely creaking along despite being two years into the official recovery.

With all levels of government laying off workers, the Labor Department reported that employers eked out just 18,000 new nonfarm payroll jobs in June. The already low number of jobs created in May was also revised downward to just 25,000, less than half what was originally reported last month.

Economists were stunned since they had been expecting June to show stronger job creation as oil prices eased and supply disruptions receded in the aftermath of the Japanese tsunami and earthquake. Instead, the government’s monthly snapshot of the labor market showed that several sectors, including construction, finance and temporary services, actually shed workers. At the same time, leading indicators like wages and the length of the average workweek, which tend to grow before employers begin adding more jobs, actually contracted.


Friday Funnies

Posted by: Barthélemy Barbancourt

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Michele Bachmann recently admitted that she doesn’t know much about Lady Gaga.

Well, guess who does? Tim Pawlenty.


That Other Branch...

Posted by: JW of Minnesota

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Now seems like a good time get some good Constitutional Law discussions going. Before Bart lights up the first Rocky Patel Vintage for the weekend, or Nobody taps into another bottle of COSTCO brand bourbon.

I haven't seen much, if anything, on the blogosphere about the legality of a County District Court Judge being able to decide what services are to be open or not. The basis of decision was whether or not discontinuation of said service represented a violation of civil rights. To me, this is fishy.

For example, let's say, Judge Gearin decided that MN Services for Blind People Racing Formula One Cars Career Center (BPRFOCC ) needed to stay open during the shutdown. Such ruling deems that such level of service needs to be maintained at, say, $10 Million per year in order that no one loses any Civil Rights.


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