Category Archives: News

News

Obama blames Bush for Obama’s 1.75 trillion dollar deficit

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Full story over at Gateway Pundit.

Excerpt:

[Bush’s policies] dropped the deficit 4 of 8 years, held an average unemployment at 5.2%, saw the strongest productivity growth in 4 decades and witnessed robust GDP growth.

Bush was able to do this despite the recession he inherited, 9-11, Hurricane Katrina, and wars in Iraq and Afghanistan.

As you can see from this chart, after the Bush tax cuts were implemented the budget deficit was reduced 3 of the last 4 years.

The deficit was reduced in 2005, 2006 and 2007 even with war and implementation of the successful Bush surge of troops in Iraq.
It wasn’t until the mortgage crisis struck the economy, a crisis Bush warned the democratic Congress about 17 times in 2008 alone, that the deficit climbed to $459 billion.

Have you seen this chart? (Source: CBO chart via RedState)

Gateway Pundit also mentions that Bush warned about crisis 17 times in 2008 and was blocked from regulating the GSEs by the Democrats. I proved here that the Democrats are to blame for this mess. In the post, I cited 1999 and 2003 articles from the left-wing New York Times and Los Angeles Times. There are also videos of Republicans trying to stop the crisis and Democrats blocking them.

News

Major breakthrough in adult stem-cell research

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There are two kinds of stem-cell research. The first kind is called embryonic stem-cell research (ESCR). This kind is opposed by pro-lifers because it kills unborn persons by extracting their stem cells for use in medical research. The second kind is called adult stem-cell research (ASCR). This kind is supported by pro-lifers.

You may be surprised to know that ESCR doesn’t work as nearly as well as ASCR. Despite all the advocacy from left-wing Hollywood actors, ESCR has not helped a single patient. But ASCR in being used for 73 different kinds of therapies. According to the Family Research Council:

…adult stem cell research had an impressive track record as of 2006-over 1100 FDA approved clinical trials in the United States for 72 different illnesses and disabilities. 2007 has seen further advances in adult stem cell research and therapy. Currently, peer-reviewed studies have documented 73 different conditions in humans where patient health has been improved through adult stem cell therapy, and over 1400 FDA approved trials are ongoing.

Adult stem cells are found throughout the human body from birth onward, in placentas, and in umbilical cord blood. Unlike embryonic stem cell research, no embryos are destroyed in retrieving them.

…There have been no successful treatment trials in human beings using embryonic stem cells.

But there were still a couple of problems with ASCR as Telic Thoughts explains here:

In 2007 scientists found a way to induce pluripotency in adult somatic cells. There were just two problems. First, it was a slow process. Second, the cells were modified via a virus delivery system which increased the risk of cancerous mutation in the future.

Cancerous mutation? That sounds bad. But wait:

Yesterday the second problem was solved as it was announced that scientists had found a way to induce pluripotency similar to that of embryonic stem cells without the use of viral delivery systems.

And their post closes with this:

Last week the Obama administration promised to move soon to repeal the funding ban on embryonic stem cell research. It will be interesting to see if this monumental scientific breakthrough will alter Obama’s course of action.

That won’t happen. For more information about why pro-lifers oppose ESCR and support ASCR, here is a series of 3 Townhall.com articles written by Greg Koukl, (first, second, third). Greg is the founder of Stand to Reason, an apologetics ministry with a heavy emphasis on bioethics.

UPDATE: Video of Michele Bachmann opposing ESCR funding.

News

Democrat stock-picker Jim Cramer angry with Obama’s socialism

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See this awesome post over at Nice Deb. She’s got the videos up showing democrat Jim Cramer complaining about the economic free-fall caused by Obama’s policies.

There are a lot of people in this country who do not know anything about economics, but they’ve been buying stocks based on hype generated by Obama-supporting Wall Street types.These gamblers (not investors) have not read Hayek or Sowell or Friedman. But they hope that Obama’s socialist policies will make the stock market go up.

According to Business Week, Cramer is a life-long Democrat. According to this article, he contributes to Democrats. I think it is interesting to note that it’s probably Democrats who are taking the most damage from the market right now, because they believe in Obammunism – they think that the market will rise as we go socialist.

Check out this video of Cramer being bullish on the Dow when it was around 14000 in the teeth of abysmal fundamentals, and then later denying that he was bullish.

And now Cramer is surprised that the party he supported is wrecking the economy. I hope he loses piles of money, and I hope everyone who voted for Obama loses everything. EVERYTHING.

Remember, Democrats caused this mess by forcing banks to make loans in order to achieve social justice for the benefit of other irresponsible Democrats who signed legal contracts with banks to purchase more house than they could afford. Many of these banks were being run by Democrats who got million-dollar bonuses while fudging the accounting and paying off Democrat lawmakers to block efforts by Bush to regulate them. Now the Democrat bankers are working for Obama.

The Democrats are voting in wasteful spending bill after wasteful spending bill, and none of this spending will help the economy one iota. And it’s not just socialist tax policy, it’s protectionist trade policy, too. And no matter how much Obama raises taxes on the productive class, we cannot afford to pay for this spending.

Democrats in general seem to believe that their socialism will make the economy grow faster. The falling stock market must be a real wake-up call to their ignorant faith in an ideology of feelings and intentions.

The fact that Obama’s policies are likely to cause inflation and/or stagflation means that the rest of us responsible people who have to pay for this crap will have the additional comfort of knowing that every dollar we saved after our hard work will be devalued when he has to print money to pay for his wasteful spending.