Good post.
You know, I’m not losing sleep anymore over the coming election. I was fine with everyone in the field bringing in their own group.
Yeah, the guy Rollins for Bachmann has ticked me off, and I’ve lost some respect for her...
BUT HERE’S the deal. If this country re elects this egg head president to a second term.....WE are in real trouble. That means that reasonable, intelligent, working people in this country are totally ignorant.
I’m not losing sleep. I think anyone can beat this guy, and will. It’s up to us for form a long standing coalition of conservative thinkers...economists...doers.
Good article. He did bring in sabatours with every new day.
EXCELLENT writing.
Yeah, these guys are smart.
Yeah, they are ALSO destroying the economy, part by part in a systematic manner.
It is very hard (read: IMPOSSIBLE) for me to believe that DESTRUCTION is NOT THEIR INTENT.
1. Aggressively audit every Federal, state and local government agency and used the audit results to start cutting down the size of government--agency size and regulations--by 30% initially and over 50% in around four years. For example, we need to merge Social Security, Medicare and other social services into a singular Department and potentially save over US$300 billion per year off the Federal budget.
2. Massively overhaul our income tax system to reduce compliance cost and to encourage American residents and businesses to keep their savings and capital investments in the USA. The flat income tax plan proposed by Steve Forbes in a book he wrote in 2005 should be at minimum what tax reform should be, in my humble opinion.
3. Aggressively oversee the financial markets by requiring real liquidity backing for hedge funds, derivatives, and other "new"-style investments (or ban them outright as financially too risky), increasing the minimum margin requirements (MMR) for futures trading to 20% (and require the buyer take 40% physical delivery of goods bought on the futures market), and re-imposing the Glass-Steagall Act to "firewall" bank assets from the ups and downs of the stock market. Too much of the wealth generated nowadays is through the financial markets at the expense of almost everything else in the US economy, in my humble opinion.
Somehow, the "egghead" economists who work for the Obama Administration don't understand just these three fixes would go a LONG way towards real economic recovery. By freeing up more financial resources normally taken by government, encouraging the keeping of savings and capital investments in the USA, and stopping the financial excesses of Wall Street, it does the best thing of all: bringing back the manufacturing base, which would quickly cut the unemployment rate, and with companies now back operating in the USA, it also means potentially much higher tax revenue to the government, which could mean finally we can tackle the issues of government debt and how to save Social Security and Medicare.
Keynesian economics exists to give a pseudo-intellectual basis to socialism, to give supporters of socialism a seemingly rational basis on which to believe that socialism can work.
Unfortunately, it can’t work. Replacing one Keynesian with another on the White House economics team might bring a different approach to trying to get Keynesian economics to work, but since the foundation is still quicksand, it won’t work.
It is no big deal that Obama has quit attending daily economics briefings—they haven’t been doing any good. (It almost makes me wonder if Obama is beginning the long intellectual journey towards accepting conservative thought, as he apparently has begun to realize that the economic aspect of socialism can’t work.)
They’re doing O.K. considering their assignment is to destroy the middle class in this country.
I’m no economics prof at the U of Chicago or Cal Berkeley, but my advice would be cut taxes across the board (income and capital gains and corporate), de-regulate with respect to commercial and enviromental requirements, and stand back and watch the economy zoom.
That's sick. The average debt burden taken on by students and parents to get a collage education in 2010 is $34,400.
A lot of recent graduates simply can not find decent jobs and are earning under $30K a year. Starting salaries for college graduates dropped 5% between 2002 and 2007 (inflation adjusted), and are likely to have fallen MUCH further since the economic distress of the last three years.
Today about 70% of college graduates graduate in debt. One in seven student loan holders have defaulted and are in collections. Many are in garnishment, and up to 25% of disposable income may be garnished -- although anecdotal reports are heard that claim higher garnishments. The law limits it to 25% but some collectors are aggressive, and the persons in default are shy and beaten.
There are nearly two million young folks who have borrowed for college. One in four is delinquent, but not yet in default.
An graduate in default, is in default because they have a poor paying job. Say $12 an hour -- that's typical. Take home is $10, take away 25% garnishment, and those debt trapped youths are taking home $300 a week. The indentured slave class that supports the nearly $600,000 yearly income of Obama's economic Professor Egghead.
That's disgusting and sick.
Sources:
- http://www.coloradodaily.com/ci_18076249
- http://online.wsj.com/article/SB124181970915002009.html
- http://www.latimes.com/business/la-fi-student-loan-20110423,0,3353776.story
Goolsbee should be the poster boy of just what roams around in our universities.
A highly paid “professor” with absolutely NO real world experience and transferring his “no real world” knowledge to his students.
Hell! This guy would not know the difference between a P&L report and a balance sheet. Worse yet, he could not run a profitable lemonade stand.
What exactly is his pay based upon? I don’t think there is an answer...only “that’s the way it’s always been.”
White House aides have lamented that the economic team is "exhausted." Apparently, Obama is tired of hearing from them, too. The Hill newspaper reports that he has stopped receiving daily economic briefings that were once treated with the same emergency status as national security briefings. So, the central planners continue to be paid to fail -- while their boss looks the other way at the destruction, whistling into what he calls America's temporary "head winds."
Nice non-work if you can get it.
those that can....do......those who can't.... teach 