California is a wonderful state mismanaged by lunatics—Steven Greenhut.
Unemployment is above 10% and 3.8% of the population is on welfare the highest rate in the nation. Four cities declared bankruptcy. Citizens are fleeing roughly 225,000 a year.
When he office last year, Brown estimated the state to be $28 billion in debt. The actual debt is closer to $170 billion and could be as high as $335 billion.
Rather than enacting real structural reforms, the dems are out stumping for Proposition 30 a temporary tax increase. Brown calls it a millionaires tax but it would affect anyone making over $250k a year. It would also increase the sales tax for all. Californians have rejected the last 8 tax increase on the ballot.
Brown has chained Prop 30 to the future of the schools (sound familiar). He wrote this year’s balanced budget as if Prop 30 had already passed. If it doesn’t pass $6 billion in what he calls draconian budget cuts will automatically go into effect. If Prop 30 fails real suffering would result.
Brown has the backing form the powerful teachers union. Two other ballot initiative that would raise taxes (Prop 38 &39) aren’t doing well either, while an initiative aimed at curbing union power (Prop 32) is doing better than expected.
Brown’s threats, coupled with California state universities holding back their acceptance letter until after the election—is it a threat?
Because enrollment capacity is ties to the amount of available state funding, the campuses will be able to admit more applicants if Prop 30 passes and fewer applicants if the Prop fails. If Prop 30 fails schools will face cuts: if it passes much of the revenue will flow into the GENERAL FUND INSTEAD.
If both Prop’s increasing personal income taxes pass (Prop 39 targets businesses) the one with more votes will become law.
Porp 38 is a $120 billion tax increase. Revenues raised to fund education would actually be spent on education. Prop 38 revenues cannot go toward increasing teachers salaries.
In May Brown’s office release a list of 70 state parks it planned to close because the state could no longer afford them. In July the Sacramento Bee discovered that the DOPR was hiding $54 million in operating funds.
Brown, in July asked the legislature for $6 billion to launch his high speed rail boondoggles, which will cost at least $68 billion to complete—already more costly than the $40 billion plan voters agreed to in 2008. what kind of governor would threaten cutting 14 days from the school year if his tax increase don’t pass, and then do this?
The light rail is a union labor jobs bill, a dream for unions but a nightmare for taxpayers.
If Prop 30 passes, Brown will have a $6 billion a year excuse to leave the states unsustainable public-sector pension plans untouched.
Prop 32 the Paycheck protection act would ban automatic deductions of union dues for political purposes. It would bar corporations and unions form donating to local and state candidates. The teachers union killed senate bill 1530 which would have made it easier to fire bad teachers for action that involve certain sex offenses, controlled-substance offenses or child abuse offenses. The bill passed over whelmingly in the state senate…then the CTA killed it in the assembly education committee.
Labor unions have spent $45 million on a “NO” on “32” campaign.
Source—weekly standard—kate havard
In his Iowa caucus victory speech Obama promised he’d be the president “who harnesses the ingenuity of farmers, scientists and entrepreneurs to free this nation form the tyranny of once and for all.”
One of his acts was to throw $90 billion at green energy companies as part of the stimulus. The treasury got $9 billion to give away for green projects. And the DOL got $500 million to administer green jobs.
The Washington examiner reported a senior energy official helping to oversee the departments loan program made a remarkable confession in an email to colleagues—Jim McCea—“I really cannot fathom how one figures out whether a loan to a PV (photovoltacic (solar) manufacturer is being made to one that will survive. Everything about the business argues for the failure of many if not most of the suppliers….all in all in the solar field, I think it is extremely easy to pick losers and I really do not know how to pick winners.”
More than 80% of the DOE guarantees were for solar. Even the people charged with running it recognized these companies were very likely to fail. 22 out of 26 companies that got DOE loans had “JUNK” ratings at the time of the loans.
$500 million “green jobs” training boondoggle—-the DOL inspector general issued a report on the departments $500 million green jobs training program—-he found the program had been an abysmal failure, successfully placing just 11,000 people in permanent jobs (16% of the goal). The training was superficial—20% of the programs were just one day long and half were less than five days long. More than half of those trained already had jobs and according to the IG’s “we found no evidence that they needed green job training.”
DOL. IG found that many of the grants for green jobs training went to political allies of the Obama administration—like the $1.5 million to LaRaza, which successfully placed zero people impermanent jobs. BlueGreen Alliance (the largest labor unions and environmental groups), which got $3 million but got employment for only 230 people.
The DOL inspector general said there was “no evidence” the programs financed would “effectively use the funds and deliver…employment outcomes.
The presidents imaginary green jogs haven’t materialized. Green energy is still at the heart of president Obama’s hollow second term agenda.
The Obama administration, citing environmental concerns, has banned drilling on half of the vast National Petroleum Reserve-Alaska in a move decried even by Alaska’s congressional delegation. The National Petroleum Reserve-Alaska (NPRA), not to be confused with the Arctic National Wildlife Refuge (ANWR) to the east, is a 23.5-million-acre, Indiana-sized tract on Alaska’s North Slope. It was established by President Harding in 1923 to ensure oil supplies for the U.S. Navy.
The desolate NPRA has been described as the largest tract of undisturbed public land in the United States and includes a point 120 miles from the nearest village or usable road. But in August, Obama’s Interior Secretary Ken Salazar announced that new drilling would be allowed on half of the reserve while the other half will be off-limits to oil and gas exploration.
The Washington Post reported. The off-limits portions of the reserve are “the most productive areas” of a tract that IBD says contains 2.7 billion barrels of oil and 114 trillion cubic feet of natural gas. Alaska’s congressional delegation — Sens. Mark Begich (a Democrat) and Lisa Murkowski, and Rep. Don Young — call the administration’s action “the largest wholesale land withdrawal and blocking of access to an energy resource by the federal government in decades.”
They also said the move “will significantly limit options for a pipeline” through the reserve to transport oil and gas. Erik Milito, the American Petroleum Institute’s group director of upstream and industry operations, said the plan “continues to leave domestic energy resources, jobs and government revenue off the table.”
IBD concludes: “The move is typical Obama sleight of hand: Take credit for increased oil production on public lands that you had nothing to do with, lock up resources on federal lands with the exception of places the oil companies find unprofitable or unpromising, then blame them, not your administration, for driving up prices.”
THE MUSLIM WHO PULLS THE STRINGS 10/29/12
I E-MAILED SEVERAL OF MY FRIENDS WHEN THE BIN LADEN ATTACK HAPPENED AND STATED THAT OBAMA WAS NOT PART OF THIS DECISION—READ THE FOLLWING AND MAKE YO YOUR OWN MIND.
From his promise that “I will stand with them (Muslims) should the political winds shift in an ugly direction” to his description of the Muslim call to prayer as one of the prettiest sounds on Earth to his bowing before the Saudi king, Obama’s actions have convinced many people that the president is a Muslim, given recent evidence of infiltration by the Muslim Brotherhood in most if not all levels of government, is whether there is a Muslim agent working in the White House to manipulate the president.
Now, U.S. Army Maj. Gen. Paul E. Vallely has issued a report based on an insider intelligence source that says Obama actually was clueless about the effort to get Osama, deliberately kept out of the loop by some of his senior Cabinet officers. According to the report, Director of Central Intelligence Leon Panetta was the key player who made the call to get bin Laden, with the assistance of Secretary of State Hillary Clinton, Secretary of Defense Robert Gates, Adm. Bill Mullen and Gen. David Petraeus.
Obama was not told about the effort until the SEAL team was already in Pakistani air space. The president was on the golf course when he was informed. According to the report, Obama had rejected three kill missions earlier in the year. In his book “Leading From Behind,” author Richard Miniter wrote that adviser Valerie Jarrett was the voice who kept urging Obama not to kill bin Laden.
Her father-in-law is journalist Vernon Jarrett, who worked closely with Communist Party member and Obama mentor Frank Marshall Davis. Valerie Jarrett headed Obama’s transition team and personally vetted communist Van Jones and all the other extremists Obama has appointed.
Jarrett is the power behind the throne who sits in on every meeting, decides who gets to see the president and monitors who is loyal to Obama and who needs to be gotten rid of. The president reportedly doesn’t make a move without her, and she was the single roadblock to getting bin Laden. What is clear is that she not only has communist contacts but she is a point man for the Administration in meetings with Muslim activists.
Our secretary of state has a chief aide who is connected to the Muslim Brotherhood in Huma Abedeen. Could Obama’s chief adviser, the woman who has been described as co-president, be a Muslim ringer as well? The brief article on Iranian.com says Jarrett is Shirazi, but it is unclear whether the writer means that she was born in Shiraz, Iran, or that she is a member of the Swahili subgroup called Shirazi. The article calls her “African-American and Chicago royalty.” Links in the article to further information go to a blank page. To a large extent, the woman pulling the strings at the White House is as much a mystery as the president himself.
It should come as no surprise that President Obama will raise taxes if he is re-elected. But here’s the shocker: He will invite the United Nations to tax Americans directly. And the proceeds would go directly to the Third World. There is now pending in the U.N. all kinds of plans to tax Americans and redistribute their wealth – not to other Americans – but to other countries. These taxes will not be like our U.N. dues paid by a vote of our Congress.
They would be mandatory levies imposed by treaty on American citizens. And, since they would be enumerated in a Treaty – not an act of Congress — only the president and the Democratic Senate need be on board. The Republican House has no role in the Treaty-making process.
· Every time you buy or sell a stock or a bond or exchange money while travelling, you’d be hit with a financial transactions tax (a percentage of your transaction) that would go to the UN.
· A global tobacco tax with the funds to flow to the World Health Organization (WHO).
· A UN-imposed tax on billionaires all over the world, 1600 current billionaires who will be hit. Once the precedent of a UN tax on US citizens is approved, it will gradually grow downwards to cover more and more Americans. Again the funds will go to the UN.
· Under the Law of the Sea Treaty – up for Senate ratification in December of the lame duck session – offshore oil and gas wells would have to pay a proportion of their revenues to the International Seabed Authority, a UN-sponsored organization, which would distribute the loot to the third world.
· A carbon tax on all U.S. or other foreign commercial or passenger aircraft flying to Europe
· A mandatory assessment to be imposed on the U.S. to compensate third world nations for the costs of reducing their carbon output.
But don’t think that this flow of wealth will reduce poverty. Foreign aid doesn’t work. That it really just puts a pot of money on the table in third world countries that automatically goes to whoever controls the presidential palace.
A liberal writer named Elspeth Reeve, who writes for “The Atlantic” magazine, frets that Barack Obama’s relationship to Communist Party member Frank Marshall Davis is getting more attention from voters and may constitute an “October surprise” that dooms the President’s re-election chances. She calls Davis only an “alleged communist” when in fact he was a card-carrying CPUSA member with a 600-page FBI file.
Obama’s audio version of Dreams from My Father has omitted every reference to “Frank” that was in the book. Joel Gilbert maintains that the cover-up stems from the fact that Davis was not only Obama’s mentor but his biological father.
His theory is controversial, so much so that Gilbert tells me that The Washington Post, USA Today, and The New York Times would not run paid ads for it. “This ad has been declined,” the Times told Gilbert, with no further explanation.
On the other hand, The Washington Post and USA Today did run paid ads from pornographer Larry Flynt offering $1 million for information on Mitt Romney’s “unreleased tax forms” and bank accounts.
Soure—western journalism cliff kincaid
Obama Campaign Borrows $15M from Bank of America. Warren Buffett invested $5B in BofA last year.
The loan was incurred on September 4 and is due November 14, eight days after the election. OFA received an interest rate of 2.5% plus the current Libor rate.
Warren Buffett, Obama donor and namesake of the infamous “Buffett Rule,” invested $5 billion in Bank of America last year in an effort to help the ailing financial institution. Last month, two weeks after OFA took out the loan, Bank of America announced a plan that would lay off 16,000 workers by the end of the year.
The bank contributed $20 million toward the cost of the Democrat National Convention earlier this year. Bank of America stadium, home to the Carolina Panthers, was supposed to host Obama’s acceptance speech.
It is unclear why the first $1 billion campaign needed an extra $15 million for the final two months of the campaign.
This entry was posted in Obama Campaign and tagged Bank of America, Campaign, loan, Obama for America, Warren Buffett. Bookmark the permalink.
Source—washington free beacon