Posts Tagged ‘Economy’

What Voters Should Know BEFORE They Vote

November 1, 2008

Investor’s Business Daily published a summary of the issues and how each candidate stands on that issue. The “bullet points” are listed below. The actually article has links to other articles that substantiate each point. I encourage you to go and read it online and click on the various links. Online: What Voters Should Know BEFORE They Vote.

While you’re at it, reading frantically about the election, my personal favorite commentator, Thomas Sowell, wrote two penetrating articles yesterday: Obama, Powell & Popularity AND Ego and Mouth

Quick Facts: Financial Crisis

  • Democrats created the mortgage crisis by forcing banks to give loans to people who couldn’t afford them.
  • In 2006, McCain sponsored a bill to fix the problems with Fannie Mae and Freddie Mac. Barney Frank and other Democrats successfully opposed it.
  • Obama was one of the highest recipients of Fannie Mae and Freddie Mac donations in Congress.

Quick Facts: Taxes

  • Under Obama’s tax plan, the percentage of tax filers who pay zero federal income tax would rise from 33% to 44%, leaving the bill to the remaining 56%. Already, 5% of earners pay 60% of all taxes.
  • Obama proposes a 33% increase in the capital gains tax as a matter of “fairness”, despite historical evidence that raising this tax decreases revenue. McCain has proposed cutting the capital gains tax in half to spur growth.
  • Obama wants to increase corporate taxes by 25%, although U.S. businesses already pay the second-highest marginal tax rates in the industrialized world.

Quick Facts: Iraq

  • When the U.S. was on the verge of losing in Iraq, McCain chose to stand and fight. Obama chose retreat.
  • Even after the surge succeeded, Obama told ABC’s Terry Moran he would still oppose it if he had the chance to do it all over again.

Quick Facts: Defense

  • Obama has promised to significantly cut defense spending, including saying “I will slow our development of future combat systems.”
  • John McCain has vowed: “We must continue to deploy a safe and reliable nuclear deterrent, robust missile defenses and superior conventional forces that are capable of defending the United States and our allies.”

Quick Facts: Background & Character

  • Obama voted “present” 135 times as a state senator, and according to David Ignatius of the Washington Post, “gained a reputation for skipping tough votes.”
  • McCain has taken stances unpopular with his own party and/or the public on controversial issues, including immigration, campaign finance reform, judicial nominations, the Iraq War and more.

Quick Facts: Judges & Courts

  • In a 2001 interview, Obama said he regretted that the Supreme Court “didn’t break free from the essential constraints that were placed by the Founding Fathers in the Constitution.”
  • In the same interview, Obama criticized the Supreme Court because it “never ventured into the issues of redistribution of wealth and sort of more basic issues of political and economic justice in this society.”
  • Obama has focused on empathy, rather than legal reasoning and restraint, as his basis for appointing judges, saying, “We need somebody who’s got the heart, the empathy…to understand what it’s like to be poor, or African-American, or gay, or disabled, or old.”
  • McCain opposes judicial activism, saying, “my nominees will understand that there are clear limits to the scope of judicial power.”

Quick Facts: Energy

  • McCain has proposed building 45 new nuclear plants by 2030 and is in favor of drilling in sectors of the Outer Continental Shelf.
  • Obama has refused to take a stand, saying only “we should explore nuclear power as part of the energy mix” and he will “look at” drilling offshore.

Better in Theory than Practice??

October 30, 2008

Rick McKee, editorial cartoonist of the Augusta Chronicle ,hits the nail on the head. His cartoons are worth bookmarking. Take a look HERE.

Obama in his own words

October 27, 2008

I thought the series from Investor’s Business Daily was pretty right on in it’s assessment of Obama’s policy and “change” dreams for America. Dreams that will make the U.S.A. far different from anything that the Founders intended. But now it seems that Obama actually thinks the Constitution is part of the problem. In fact he believes, from an interview in 2001 that, according to his own words, the Constitution of the U.S. —

“. . . is a document of negative liberties, says what the states can’t do to you, says what the federal government can’t do to you, but it doesn’t say what the federal government or state government must do on your behalf, and that hasn’t shifted.”

In speaking of the Warren Court (the Supreme Court under Chief Justice Earl Warren), clearly the most liberal and radical terms of the Court he said this:

“The Supreme Court never ventured into the issues of redistribution of wealth and sort of basic issues of political and economic justice in this society, and to that extent as radical as people try to characterize the Warren Court, it wasn’t that radical,”

“It didn’t break free from the essential constraints that were placed by the founding fathers in the Constitution, at least as it has been interpreted.”

Do we really want a court that “breaks free from the essential constraints placed on it . . . in the Constitution“? I fear that what Obama says in this interview is a foretaste of what we can expect if he is elected President, with a filibuster-proof Senate. Please listen to this carefully and pass it on to all who might be considering to vote for Obama. The Constitution of the United States will be his target if elected.

Audacity of Socialism — Rerun

October 25, 2008

UPDATE: This is a re-post from from September, but it has been pushed off the front page and in these last days before the election these are very, very important articles that should be widely read.

The Investor’s Business Daily has written a series of articles The Audacity of Socialism examining the past and present of Senator Obama.

It should be required reading for all who are “just not sure” about this years Presidential race in the U.S. Or those who need ammo for discussions with your friends or co-workers.

Financial Markets, Health Care and Amtrak

October 6, 2008

Ronald Reagan once said that the most dreaded words a citizen could hear was, “hello, I’m from the government and I’m here to help.” This past week as I watched the $700 billion bailout (who really believes it will only be this much) I confess those words of Reagan continued to spin in my head. It seems to me that everything the government runs goes straight into the ground. Social Security comes to mind as does Amtrak, that amazingly inept mode of transportation.

This week, during the bailout debate, the Congress was also debating a $13 Billion Funding Bill for Amtrak. Perhaps the most sensible Senator to speak against this piece of “pork” was Jeff Sessions of Alabama (sweet home Alabama!). Sessions pointed out that each day one Amtrak train came though Alabama and made one stop in Birmingham. If you want to go to Washington, DC, you can catch this train at the one designated time. The trip will take you 18 hours with 18 stops. You can purchase this ticket for about $485. Or, you can take several airlines that have multiple departures throughout the day, many that are non-stop, or others with one stop. This ticket will cost you about $300 and it will take you about 2 hours to get there. Or you can drive it in your car and it will take you around 12 hours and with gas at about $4 a gallon it will cost you about $200. Appears to be almost a “no brainer” that Amtrak is a dinosaur which has long since lost its usefulness and value.

But the Senate didn’t think so!!! They passed the bill with a large enough margin (74-24) that the veto that President Bush had threatened could easily be overridden. You can read the details if you like HERE.

My point is simply this . . . can we really trust the government to protect us. Every time Congress votes to “fix” something it appears to simply be one step further down the road to socialism as a replacement to the free market in the U.S. I used to think that the Republican party was going to protect us from going down this slippery slope, but to be honest, most of them are just as confused as the Democrats. May God help us.

The Mess We’re In

September 29, 2008

I have been, as probably you have too, listening/watching the Congress of the United States for the past week debate and blame the current financial mess. There is plenty of blame to go around for both the Republicans and Democrats. I have listened to Barney Frank, Nancy Pelosi, and Harry Reid blame the Republicans alone. All have been asked over the weekend if the Democrats didn’t share some in the problem . . . their answer? “Absolutely Not! This is Bush’s fault.” I think I’m going to be sick.

I have been very disappointed with much that President Bush has done for the past few years, especially in the area of the economy. But the problem is not that he has acted with Republican/Free Market actions, but rather that he has sold out to the near-socialist views of government control.

But the seeds of this problem go all the way back to 1977 and the administration of Jimmy Carter and the “Community Reinvestment Act.” It has become the tool for social engineers to force banks and mortgage companies to make loans that had no chance of being paid back. The media seems to want to ignore this bit of truth.  Stanley Kurtz has written a very insightful article today in the New York Post on how this 1977 Act has been used in recent years. Get the other side that the mainstream media won’t tell you. Don’t miss reading this article O’s Dangerous Pals.

UPDATE: Dr. Thomas Sowell has written an excellent article related to “the mess.” I highly recommend it — Can Congress Fix a Problem it Caused?