IN February the president says he won’t trade spending cuts for an agreement to raise the limit. He says he won’t negotiate with Republics, nor will his aides. Since Geithners is on the way out, Jacob Lew is nominates as his successor. Lew is a demo apparatchik who’s spent 30 years working for Tip O’Neil, Clinton and Obama. He’s a professional subordinate. The switch gives us a preview of the presidents second term.
The re-election has prompted him to mock and belittle republicans. He is becoming more polarizing. Obama threatened House speaker Boehner he’d use his Inaugural address and state of the union speech to blame republicans if they didn’t knuckle under on the fiscal cliff, which they did!
AGAIN OBAMA SAYS “WE DON’T HAVE A SPENDING PROBLEM”, only a “health care problem”. Panetta who is going to be replaced by Hagel makes it that the president will not have anyone with independent stature.
Republicans who met with Lew in negotiations over the debt limit and fiscal cliff found him to be highly ideological obstinate and utterly impervious to their pleas for spending cuts and entitlement reforms. He doesn’t accept the responsibility that when all else fails he as president must be the ultimate dealmaker. Rather than compromise, he prefers to bludgeon them into a deal almost entirely on his terms.
Obama is so eager to take on republicans that he hasn’t bothered to produce a new agenda for his next four years.
Tax reform, entitlement reform, serious deficit and debt reduction, a grand bargain on spending and taxes—those are off the table given they require real compromise on both sides..
Source—weekly standard, fred barnes
$535 million loans handed out to companies because of the need to compete with China. Jonathan Silver then director of Energy dept loan Programs Office, said in 2010 China alone provided more than $30 billion in credit to the country’s largest solar manufacturers through the government controlled China Development Bank. Roughly 20 times larger than Americans investments.
Today the solar industry worldwide is suffering from oversupply, weak demand and depressed prices and many of China’s solar manufacturers. The Obama administration has had little to say about the lessons to be learned form the current disarrays of China’s heavily subsidized solar industry. China’s leadership in green technology, Bejing has directed a flood of government subsides, tax breaks and massive credit lines form state banks into the solar industry and locals governments have offered benefits like cheap land.
Suntech Oower Trina Solar, Yingli Solar, JA Solar and LDK Solar were publicly listed on US stock exchanges. For the 2012 Solarbuzz a market research website estimated that Chains would account for 76% of all solar wafer production in the world. GTM research revealed that global solar manufacturing capacity stands at 70 gigawatts, even though only an estimated 31 gigawatts are needed. GTM report cited the NYT indicates Chinese companies alone had the ability to manufacture 50 gigawatts of solar panels last year.
According to the Chinese press, some 70% of Chain’s photovoltaic solar modules are exported to Europe. As polysilicon became more abundant, the prices of solar products dropped, causing the profit margins of solar companies, including Chinese ones, to plummet.
US commerce Dept imposed tariffs on Chinese solar products in 2012, and the European Union investigations into anti-dumping practices and unfair government subsidies in the Chinese solar industry.
China Daily, numerous small and medium sized solar cell manufacturers have gone bankrupt and more than 80% of Chinas 43 polysilicon companies have stopped production. LDK solar the largest maker of solar wafers in the faces a mountain of debt totaling about $3.6 billion. Xinyu, LDK hometown approved a measure to fund approximately $80 million of the loans.
Suntech, the worlds largest solar panel maker, also needed a bailout form its local government. They have over $2 billion in debt after receiving $32 million in emergency funds in September.
Beijing well aware of the overcapacity has instructed china’s solar industry to consolidate. Premier Wen Jiabao, said let the solar industry reduce production and undergo mergers and reorganizations. Frightened by the prospect of massive layoffs if large solar employers go bankrupt have ignored Beijings call.
Others who have gone bankrupt since Solyndra A123–$249 million, Beacon Power Corp-$43 million, Satcon Tech corp-$3 million grant. The turmoil in the Chinese solar industry teaches that massive state spending cannot frestall changes in market conditions.
Source—weekly standad, ying ma
Hagel has claimed his record shows “unequivocal, total support for Israel?
That is total nonsense. Hagel was once proud NOT to be numbered among the “unequivocal, total” supporters of Israel. He was a lonely figure in American public life that would stand up to those who unequivocally and totally supported Israel. He was proud not to have been intimidated by “the Jewish lobby”. His votes against pro-Israel resolutions backed by the American Israel Public Affairs Committee (AIPAC). Hagel was contemptuous for those who signed AIPAC-endorsed pro-Israel letters.
During the 2002 Palestinian terror campaign against Israel he stated, “Israel must take steps to show his commitment to peace” after his left the senate he became co-chair of the Atlantic council and his vice chairman was Chas Freeman. Freeman was forced to withdraw as a nominee for Obama intel post in 2009 because of his hostility to Israel was so manifest.
BUT in January 2013, Hagel morphed into M. Unequivocal and TOTAL supporter of Israel. Maybe he now really is pro-gay rights, and pro-choice. Maybe in those cases his senate voting record was merely a matter of political convenience. When he expressed disdain for various resolutions and letter, he was expressing disdain of AIPAC.
Where is the AIPAC on all of this, it appears they feel it can’t afford to antagonize the Obama administration, who knows what kind of anti-Israel politicians who lathe the Jewish lobby might end up getting nominated for high-ranking positions?
Source-weekly standard, William kristol
While the press was distracted by the misnamed “fiscal cliff” we began the year with a 13-figure deficit and a 14-figure national debt—the result of today’s American borrowing.
Dems suggest that federal tax revenues have fallen, while federal spending has generally proceeded a reasonable levels. Republicans suggest that tax revenues have more or less flat lined, while spending has skyrocketed.
Taxes have risen substantially, yet an explosion in federal spending has dwarfed these increases. 1962 federal tax revenues were $534 per capita or in today’s dollars $4178. Last year federal tax revenues were $7793 per capita. So from 1962 to 2012 taxes rose 87% even after accounting for inflation and population. 1962 the federal government spent 7% more than it had available to spend—$1.07 going out for every dollar coming in. With Obama in the White House it has spent $1.56 for every dollar available.
The federal government gave itself a 151% raise on top of inflation and population growth. As a result rather than running a surplus of $57 billion in 2012 we ran a deficit of $1,089 trillion.
During the Bush-Obama economic slump the federal government now has 87% more money available to spend-per person after adjusting for inflation. While the real per-capita taxation has nearly doubled over the past 50 years real per-capita spending has come closer to tripling. We’re on a fast track toward insolvency as a nation for one simple reason: our federal government has been spending far, far more than even our hefty tax increase have been able to cover.
Obama keeps stating “WE DON’T HAVE A SPEDNING PROBLEM”
Liberals generally try to mask our rising levels of federal taxation—and our far greater increases in federal spending—by reporting them in relation to the GDP, rather than in relation to inflation and population growth.
What are we spending such colossal sums of borrowed money on? 1962 to 2012 the share of total federal spending that went to national fell from nearly half (49%) to less than a fifth (19%). Where then is all of the borrowed money going? Here’s a hint, Medicare and Medicaid and on Obamacare which didn’t exist in 1962.
While defense spending fell by 1.5%, real per-capita federal spending aside form defense rose by a whopping 298% from $2284 in 1962 to $9098 in 2012. thus instead of a $1 trillion surplus we ran a $1 trillion deficit.
Over the past 50 years defense spending has essentially flat lined, taxation has nearly doubled, total federal spending has for more than doubled and non-defense spending has quadrupled. In only the most stubborn ideologue could blame our mind-baffling deficits on insufficient taxation or excessive defense spending.
Jefferson wrote-“private fortunes are destroyed by public as well a private extravagance”. He warned that public debt is the fore horse of the frightful team of public mismanagement that leads to the misery, suffering, wretchedness and oppression of private citizens. The only way to escape our worsening fiscal calamity is by reforming Medicare and Medicaid to make them affordable, replacing Obamacare and enacting pro-growth policies and most simply cutting federal spending almost across the board.
Source—weekly standard, jeff anderson
“An Entitlement Program means any Government program that requires payment to anyone who meets specific qualifications that was made up by some government committee; those who qualify are thus ‘entitled’ to the payments”.
The Office of Economic Opportunity provided training for the poor and established various community-action programs to give the poor themselves a voice in housing, health and education programs. Medical care came next. Medicaid, a program providing health-care assistance for the poor.
A new housing act provided rent supplements for the poor and established a Department of Housing and Urban Development.
I don’t have to list them as we all know from whence they came and why!
This was the start of our current Entitlement programs. I am not saying that these are not needed but question the real reasons behind some of them. Could it possibly be that the politicians in “BOTH” parties are trying to buy votes with these programs? Most of these programs are needed, but have they gotten completely out of hand by each party trying to out spend the other.
Are our politicians really worried about the people or is it re-elections they are concerned about.
The spending on these programs has progressed since 1997 at $163.5 billion to an budgeted $394.5 billion in 2012.
Why are we reading more and more about the have and have not’s, why are we talking wealth redistribution instead of old fashion methods of work; of bringing plants back to the USA by eliminating the reasons they left in the first place.
It must be a better to get re-elected if you have people who are dependent on the government instead of the government instilling in them the pride of working hard to achieve that old “American Dream” of success and accomplishment—please Mr. Politician get out of the way and let the American people climb back to the already forgotten ideal of National pride in our once great country and help us become the World Leader again.
Obama you must pressure your elected officials to push for gun control. Cuomo no one needs 10 bullets—with NY crime rate as high as it is, why are they releasing more prisoners back into the public sector before their time is up? And it nobody needs a 10 round clip; the NYPD will be in violation of his new gun laws. (They will have to remove three bullets from their clips).
NRA wants a policeman in every school. And they feel the mental health system needs an overhaul. What do you do with all the guns being used to protect the politicians, the President and the Hollywood types? Chicago has one of the highest crime rates in the nation, even with all the gun laws they have. There is a new video game out on how to kill members of the NRA. Airline pilots are asking for guns for the cockpit.
This new gun bill will create 6 new agencies to oversee the law. The executive orders he signed will cost the taxpayers $2.5 million. In 1982 26,000 died due to drunk drivers, now its 11,000. Law enforcement!
A judge has ruled against the recess appointments on the NLR board—ruled unconstitutional.
$120 million being paid to imamates and illegals through Medicare—wasted– even though the federal law prohibits payments to inmates.
There is roughly 1% fraud in the private sector while in government it’s around 10—waste on Medicare.
Keystone pipeline, the NE governor gave it a new route—still waiting on approval from Obama. There are 12 more pipeline in the planning stages waiting on the keystone approvals.
Debt ceiling, everybody scare to buck it, Obama ignores his own debt commission—FEAR FACTOR—nobody wants to cut spending. With 2% growth, we now have a “NO GROWTH GOVERNMENT”.
11 European countries have a transaction tax.
Credit card companies as of 1/27 retailer no longer have to pay a processing fee to the card companies.
Unions lost 400,000 jobs in 2012
91% of union campaign contributions went to the Dems.
Unions are strong in the government sector, as they do not have to compete with other business. Government merely just raises taxes to cover added cost.
Foreign aid—Clinton wants more aid for the mid-east and Africa and 25% increase for Egypt. 2008-10 $36,000 in earmarks ended up costing us $90 billion.
Schumner still wants more taxes. World leaders want $14 trillion for global warming.
Source fox financial news programs.
Incase you missed the news on Fox this week and Hannity’s report on Washington DC-“BOOMTOWN” These are the notes I took while listening to the reports and news from the financial shows Saturday.
DC has the highest per capita income in the nation, it’s passed silicone valley. DC does not produce any products like silicone valley does. It takes its wealth from the rest of the country via the taxpayers. Their business is MONEY!
DC has 3 of the wealthiest counties in the area and has 7 of the 10 top counties in the USA. It is currently ranked fourth in generating millionaires in the world.
Money as mentioned comes by way of taxes, special interest, LOBBTYISTS (you those guys Obama was going to get rid of) and earmarks. There is NO pressure from either side to cut spending. That means both parties. Neither wants to change it.
Who is getting rich in DC—Lobbyist and contractors and those who influence decisions on how and who gets these contracts. The budget in 2002 was $2,010 trillion and in 2012 it was $3,796 trillion. There is construction going on all over DC area and the control of it is questionable.
The average government employee in DC makes $245,000 and the average private sector employee makes $ 120,000. it’s even gotten so bad that the department of Public Debt is hiring people to help cope with all of the spending and activity.
Government contracts around $400 billion a year in the area. Cost of a DC house, the top 5% worth around $473,000 (top in the country) the top 20% of houses are worth $259,000 and the bottom 20% are around $9100.00. Government takes in $2.2 trillion a year? DC ranks 3rd in the US in income in equality. 15% of every dollar is spent in DC.
The government is now borrowing 46 cents of every dollar it spends.
“K” street the home of the Lobbyist—any law proposal has a lobbyist behind it fighting for its passage. Family members of the current and past politicians are now a norm in those who work for these Lobbyist firms. IE Reid has two sons that are lobbyist.
27 senate and 51 house members have family members who work for lobbyist. They deal on legislation even though it’s a bill by a family member.
Lobbyism is now a family business, also included are contractors and many other companies that do business with the government. IT’S A FAMILY AFFAIR.
If in DC you don’t play the game, you do not advance and get better committee assignments. In 2010 it took over a $100,000 a day of spending by lobbyist to influence the politicians, many of these lobbyist come in on their own private jets (no mention of those jets by Obama), 70,000 private jets take off and land each year in DC. Dulles even built a special runway for them.
1973—14% of companies had ex-politicians working for them or on their boards. In 2007 it was up to 55%. GE spent $39,290,000.00 on lobbyist or $107,643.00 a day.
Univ. of KS professor’s study on lobbyist of every $1.00 they spent they got in return $220.00. (22,000 % ROI)
There are 30 major corporation spend more on lobbyist than they pay in taxes. DC now has the highest rate of consumption of fine expensive wines.
While a Lamborghini cost $387k in DC the average US home average cost is $180,600 and a local dealer said he has customer who are paying “cash” for them—the cars that is.
AND GUESS WHERE ALL OF THIS MONEY COMES FROM—LOOK IN A MIRROR.
EXTRACTION AT IT’S BEST
NO RECESSION IN DC
THERE WILL NOT BE ANY SPENDING CUTS—MOVE OVER GREECE
DC IS LIKE PRO WRESTLING
AND THE SOLE PURPOSE OF OUR POLITICANS IS TO GROW THE GOVERNMENT.