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Congressman Paul Ryan, one of the least insane men in Washington, has a 10-year plan.
President Barack Obama, one of the most insane spenders in Washington, has a 12-year plan.
After hearing the president’s plan, Standard & Poor’s downgraded the U.S. Sovereign debt outlook to “negative.” Ah, the fine art of understatement. In 1940, after the fall of France and the evacuation from Dunkirk, presumably they downgraded Britain’s outlook to “spot of bother.”
At the world’s first “Presidential Facebook town hall meeting” on Wednesday, even Obama had a hard time taking his “plan” seriously. Sometimes he referred to it as a 12-year plan, sometimes 10 years, sometimes saving four trillion, sometimes saving two trillion. So will the Obama plan save four trillion over 12 years or two trillion over 10?
For the answer let’s go to next week’s first Presidential Twitter town hall meeting:
OMG!!! LOL!!!!!!! ROFLMAO!!!!!!!!!
Overly Massive Government!!! Legislating Official Largesse!!!!!!! Requiring Offering Foreign Lenders More American Ownership!!!!!!!!!
The president’s plan is to balance the budget by climbing into his Little Orphan Obammie costume and singing: “The sun’ll come out tomorrow/Bet your bottom dollar that tomorrow there’ll be sun.” We’ve already bet our bottom dollar and it’s looking like total eclipse. But Obammie figures if we can only bet Daddy Warbucks’ bottom dollar the sun will shine. The “rich” don’t have enough money to plug the gap: As a general principle, whatever the tax rates, the Treasury can never take in more than about 19 percent of GDP. Since Obama took office, the government’s spent on average 24.4 percent of GDP.
That five-point gap cannot be closed, and it’s the difference between the possibility of a future and the certainty of utter ruin. Hence, outlook “negative.”
By the way, if you were borrowing (as the United States government does) $188 million every hour, would your bank be reassured by a 12-year plan?
That’s 2023. Go back 12 years. That’s 1999. Which, if any, politicians correctly identified the prevailing conditions in the America of 2011? Most of our problems arise from the blithe assumptions of the political class about the future. European welfare systems assumed a mid-20th century fertility rate to sustain them. They failed to foresee that welfare would become a substitute for family and that Continentals would simply cease breeding. Bismarckian-Rooseveltian pension plans assumed you’d be living off them for the last couple of years of your life. Instead, citizens of developed nations expect to spend the final third of their adult lives enjoying a prolonged taxpayer-funded holiday weekend.
What plans have you made for 2023? The average individual attempts to insure against future uncertainty in a relatively small number of ways: You buy a house because that’s the surest way to preserve and increase wealth. “Safe as houses,” right? But Fannie/Freddie subprime mumbo-jumbo and other government interventions clobbered the housing market. You get an education because that way you’ll always have “something to fall back on.” But massive government-encouraged expansion of “college” led Americans to run up a trillion dollars’ worth of student debt to acquire ever more devalued ersatz sheepskin in worthless pseudo-disciplines. We’re not talking about the wilder shores of the stock market – Internet start-ups, South Sea bubbles and tulip mania – but two of the safest, dullest investments a modestly prudent person might make to protect himself against the vicissitudes of an unknown future. And we profoundly damaged both of them in pursuit of fictions.
I don’t claim absolute certainty about what the world will be like in 2023, but I know what our governing class is telling us. At Tufts University, Nancy Pelosi urged her “Republican friends” to “take back your party, so that it doesn’t matter so much who wins the election – because we have shared values about the education of our children, the growth of our economy, how we defend our country, our security and civil liberties, how we respect our seniors. Elections shouldn’t matter as much as they do.”
The last line attracted a bit of attention, but the “shared values” – i.e., the fetid bromides of conventional wisdom – are worth decoding, too: “Education of our children” means more spending on an abusive and wasteful unionized educrat monopoly; “growth of our economy” means more spending on stimulus funding for community-organizer grant applications; “how we defend our country” means more spending on defense welfare for wealthy allies; “our security and civil liberties” means more spending on legions of crack TSA crotch fondlers; “how we respect our seniors” means more spending on entitlements for an ever more dependent citizenry whose sense of entitlement endures long after the entitlement has ceased to make any sense.
Nancy Pelosi fleshed out the Obama plan: More spending. More more. Now and forever. That’s what S&P understands. The road to hell is paved with stimulus funding.
The world has started to listen to what Obama is telling us. In that respect, let me make a single prediction for 2023 – that by then the dollar will no longer be the global reserve currency. Forty years ago, Treasury Secretary John Connally told Europe that the dollar is “our currency but your problem.” The rest of the world is now inverting the proposition: The dollar is our problem but, in the end, it’s your currency, not ours. In Beijing, in Delhi, in Riyadh, in Rio, the rest of the planet is moving relentlessly toward a post-dollar regime.
What will America look like without the dollar as global currency? My old boss Conrad Black recently characterized what’s happened over the past half-century as a synchronized group devaluation by Western currencies. That’s a useful way of looking at it. What obscured it was the dollar’s global role. When the dollar’s role is ended, the reality of a comatose “superpower” living off a fifth of a billion in borrowed dollars every single hour of the day is harder to obscure.
In the absence of responsible American leadership, the most important decisions about your future will be made by foreigners for whom fatuous jingles about “shared values” have less resonance. If you don’t want the certainty of a poorer, more decrepit, more diseased, more violent America, you need to demand your politicians act now – or there won’t be a 2023.
“In the United States, rules on charitable giving have made it harder for Muslims to fulfill their religious obligation,” President Obama claimed during his 2009 Cairo speech. “That is why I am committed to working with American Muslims to ensure that they can fulfill zakat.”
This statement contained two falsehoods. One, as I’ve previously detailed, was obvious: There are, in fact, no American laws or rules that make it harder for Muslims to give to charity. What we have are laws against material support of terrorism – against using devices like charitable fronts to channel money to jihadists.
Those laws are not directed at Muslims. They apply to everyone but are applied most often to Muslims, because Muslims carry out most anti-American terrorism.
The average American, as parent, student and taxpayer, has little idea of the academic rot at so many of our colleges. Save for a tiny handful of the nation’s colleges, what distinguishes one college from another is the magnitude of that rot.
One of the best sources of information about our colleges is the New York City-based Manhattan Institute’s quarterly Web magazine, Minding the Campus, edited by John Leo, former columnist for U.S. News & World Report.
The magazine’s Winter 2010 edition contains an article by Dr. Candace de Russy, former member of the board of trustees of the State University of New York (SUNY), titled “Hate-America Sociology.”
Among the most preposterous claims being made on MSNBC about the fight over public sector unions in Wisconsin is that Gov. Scott Walker and the Republicans are losing “Reagan Democrats” by taking on government employees.
The theory seems to have been concocted by Howard Fineman, editor at The Huffington Post, who said, back in February on Lawrence O’Donnell’s “The Last Word,” that the “whole idea of a Reagan Democrat” was that union families were voting for Reagan. But today, according to Fineman, they are shifting against Republicans because of Walker’s tough line on government unions. “That’s got to scare Republican strategists nationally,” he said.
Private sector unions are as similar to public sector unions as they are to gay civil unions.
he president has always had a gift for self-pity.
The Oval Office, I always thought I was going to have really cool phones and stuff… I’m like, “C’mon guys, I’m the president of the United States. Where’s the fancy buttons and stuff and the big screen comes up?” It doesn’t happen. – Pres. Barack H. Obama
The list of people I feel sorry for is long. It includes not just all of the people I know personally who are suffering from one misfortune or another, but the billions around the world who’re having a rougher time than they ought: Japanese earthquake victims, targets of ethnic cleansing, etc. Then there’s the supplemental list, which includes everyone from fans of Lost who were ripped off by the series finale to the guy in the middle seat on a long flight.
Don’t be fooled by The Donald. Take it from one who knows: I’m a South Jersey gal who was raised on the outskirts of Atlantic City in the looming shadow of Trump’s towers. All through my childhood, casino developers and government bureaucrats joined hands, raised taxes and made dazzling promises of urban renewal. Then we wised up to the eminent-domain thievery championed by our hometown faux free-marketeers.
America, it’s time you wised up to Donald Trump’s property redistribution racket, too.
Trump has been wooing conservative activists for months and flirting with a GOP presidential run – first at the Conservative Political Action Conference in Washington and most recently at a tea party event in South Florida.
There is a lot of talk from many people about bullying in school. The problem is that it is all talk. There is no sign that anybody is going to do anything that is likely to reduce bullying.
When politicians want to do nothing and yet look like they are doing something, they appoint a blue-ribbon committee or go to the U.N. or assign some cabinet member to look into the problem and report back to the president – hoping that the issue will be forgotten by the time he reports back.
When educators are going to do nothing, they express great concern and make pious public pronouncements. They may even hold conferences, write op-ed pieces, or declare a “no tolerance” policy. But they are still not going to do anything that is likely to stop bullying.
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