Category Archives: News

Round-up of stories on fiscal, social and foreign policy

Gateway Pundit reports that the Democrat government has raised the average wage of government employees by over $2600 during a recession caused by the Democrat’s own policy of forcing private banks via regulation to make risky loans to Democrat special interest groups.

Excerpt from the CBS article:

President Obama’s call last year for “shared sacrifice” doesn’t extend to federal employees, at least based on the details of his administration’s 2010 budget released this week.

At a time when the official unemployment rate is nearing double digits, and 6.35 million people are receiving unemployment benefits, the U.S. government is on a hiring binge.

Executive branch employment — 1.98 million in 2009, excluding the Postal Service and the Defense Department — is set to increase by 15.6 percent for the 2010 fiscal year. Most of that is thanks to the Census Bureau hiring 102,000 temporary workers, but not counting them still yields a net increase of 2 percent in one year.

There’s little belt-tightening in evidence in Washington, D.C.: Counting benefits, the average pay per federal worker will leap from $72,800 in 2008 to $75,419 next year.

So much for communism, the economic system of those who are unable to revise their beliefs in the face of reality and history. I recommend that those who voted for Obama read Robert P. Murphy’s “The Politically Incorrect Guide to Capitalism”, the best economics book for complete beginners. I wonder why American atheistic leftists are still living in the capitalist USA instead of in North Korea or Cuba? Oh, I know: hypocrisy!

And then there is the story of 5 of the 6 wannabe-Jihadists from a Miami terror cell were finally convicted for their part in a plot to attack the Sears Tower in Chicago.

The Jawa Report cites this Chicago Tribune article:

Ringleader Narseal Batiste, 35, was the only one convicted of all four terrorism-related conspiracy counts, including plotting to provide material support to terrorists and conspiring to wage war against the U.S. Batiste, who was on the vast majority of hundreds of FBI audio and video tapes, faces up to 70 years in prison.

Batiste’s right-hand man, 29-year-old Patrick Abraham, was convicted on three counts and faces 50 years behind bars. Convicted on two counts and facing 30 years are 24-year-old Burson Augustin, 25-year-old Rotschild Augustine and 33-year-old Stanley Grant Phanor. Naudimar Herrera, 25, was cleared of all four charges.

Jihad Watch notes some bias in the coverage by AP, where they leave the identity and motives of the attackers to the last few paragraphs.

…Prosecutors Richard Gregorie and Jacqueline Arango focused on the group’s intent as captured on dozens of FBI audio and video recordings. Batiste is repeatedly heard espousing violence against the U.S. government and saying the men should start a “full ground war” that would “kill all the devils.”

“I want to fight some jihad,” Batiste says on one tape.

A key piece of evidence is an FBI video of the entire group pledging an oath of allegiance, or “bayat,” to al-Qaida and Osama bin Laden in a March 16, 2006, ceremony led by an Arabic-speaking FBI informant posing as “Brother Mohammed” from al-Qaida. Testimony also showed the men took photographs and video of possible targets in Miami, including the FBI building, a courthouse complex and a synagogue.

Oooh, but there’s no such thing as media bias! The media is certainly not an arm of the Democrat party that covers their every policy blunder. (H/T Gateway Pundit)

Remember, the media elite has to cover for the Democrats. Who else would give them a bailout of taxpayer money?

4Simpsons explains why tariffs turn recessions into depressions

I was browsing around on 4Simpsons, my favorite Christian Living blog, and I found this gem of a video on Neil’s latest round-up of links. I love this blog, because you get solid economics, solid social conservatism and solid apologetics.

Here’s the video:

It features Amity Shlaes, whose voice I find irresistible! And Jagdish Bhagwati, too.

If you are a Christian and you voted for Democrats, please listen to this lecture by Jay Richards on the “Myths Christians Believe about Wealth and Poverty“. When Jay mentions the “Trading Game” and networking theory, I had to study that in grad school e-commerce: “Metcalfe’s Law” and “network externalities”.

If you want to read the book by Henry Hazlitt that he mentions, it’s all posted online here. But I recommend Robert P. Murphy‘s “The Politically Incorrect Guide to Capitalism” as the best economics book for beginners. Better than Tom Sowell‘s “Basic Economics”? For beginners, yes! Get both, they’re all you need to understand basic economics.

Now, remember how leftist Democrats were always complaining about how much the world hated us because of Bush? Yeah, they didn’t really hate us then, (because they all voted in conservatives themselves!), but they really hate Obama’s trade policies now!

Take a look at what Canadians think of Obama‘s Buy American anti free trade policy: (H/T My best friend, Andrew who has a perfect marriage)

The dire predictions about Buy American are coming true. From pipes and water pumps to steel beams and office furniture, a wide range of Canadian manufacturers are suddenly finding themselves shut out of traditional markets south of the border, according to industry and government officials.

…Canadian Manufacturers and Exporters (CME) has compiled a list of seven pieces of legislation now before Congress that contain overtly protectionist language. They include bills to fund local sewer and water projects, expand broadband access, build smart electrical grids, replace Air Force One, purchase 100,000 hybrid vehicles, and build and renovate government buildings.

…Canadian steel makers and fabricators are feeling the impact of Buy American restrictions, which were inserted into the stimulus bill to appease U.S. steel makers and workers. Companies are losing orders, threatening $1-billion-a-year worth of exports, according to Ed Whalen, president of the Canadian Institute of Steel Construction.

Who loses from Americans paying too much for materials and products? Canadian companies and consumers are hurt from lost revenue, so they lay people off and buy less of our stuff. US companies pay more for materials, so they lay people off. US Consumers, who must pay more for products they could have got cheaper. And taxpayers, whose money is wasted by paying too much for government projects.

And who gains from protectionism? Why Obama’s union supporters and donors, that’s who. It’s basically a legal way of rewarding the people who put you in office ,and buying the next election with money confiscated from the productive private sector, i.e. – your boss.

A comprehensive article about Obama’s plans for energy policy, which will really destroy the economy and cost us piles of jobs, is here.

Unemployment rate tracking above Obama’s projection

I have an idea. Let’s put a Democrat ACORN lawyer in charge of the economy during a recession caused by Democrats and ACORN. What could go wrong?

This: (From Hot Air, H/T Ace of Spades)

Barack Obama pushed for almost $800 billion in stimulus spending by claiming that it would save or create millions of jobs this year.  Critics pointed out that most of the spending started in 2010 and more than half of it came in 2011 or later, calling the stimulus useless at best for salvaging jobs, let alone creating them.  The White House has quietly agreed with its critics, according to the New York Times, and now says it expects to see no hiring rebound in 2009.

I can’t believe what I’m reading. Are you telling me that the Marxist-in-Chief blew trillions of taxpayer dollars on big government wastefulness, and he created NO JOBS?

Hot Air continues:

We just got done hearing Obama take credit for saving 150,000 jobs — which his administration never documented.  Now we’re hearing that the stimulus package demanded by Obama and passed over near-unanimous Republican objections won’t actually make any difference at all.  The cure, Obama and his team now admit, is private-sector growth.

Take a look at the numbers below. We are getting worse unemployment numbers for Mr. Teleprompter than if he had never spent a dime of taxpayer money at all.

Chart by Geoff from Innocent Bystanders
Chart by Geoff from Innocent Bystanders

Hot Air explains:

Actually, only the red indicators come from Geoff.  The chart itself comes from page 5 of an analysis prepared by Romer and Obama’s council of economic advisers in support of the $787 billion Porkulus plan.

We’re already past 8.8%, well on the way to 9.5%, above her predictions in either case.  They predicted that the upper curve would occur without spending $800 billion on government make-work, and that passage would prevent the severe spike in unemployment.  Now Romer admits that the upper curve will happen anyway.

Remember under George W. Bush, when unemployment averaged about 5% over the course of his two terms? Yeah, I miss him too.