Tag Archives: Barack Obama

John Hawkins: 40 reasons to not re-elect Barack Obama

On Townhall.com. Don’t worry, I linked to the printable version.

Excerpt:

2) Barack Obama’s stimulus plan cost more than the Marshall Plan, the Louisiana Purchase, and putting a man on the moon — combined and it was a complete and utter failure — more than 800 billion dollars that accomplished nothing of significance.

3) If Barack Obama is re-elected, Obamacare will go into effect in 2014. This will lead to huge doctor shortages, exploding health care costs, companies dropping insurance, death panels, much longer waits to see a doctor, and a dramatic deterioration in the quality of American medical care.

4) Do you believe that your taxes should go up in the next four years? Well, Barack Obama does,

“Nobody’s looking to raise taxes right now. We’re talking about potentially 2013 and the out years.” — Barack Obama

5) Even the left-wingers at Politifact admit that Obama broke his promise to cut the deficit in half by the end of his first term.

6) America lost its AAA credit rating for the first time since 1917 on Obama’s watch.

8) Barack Obama called George Bush “unpatriotic” for adding so much to the debt. Yet, Obama added more debt in 3 years and 2 months than Bush did in both terms.

I was going to write a post like this myself! But this one will do.

Mitt Romney unveils detailed energy plan to create jobs and lower gas prices

From Yahoo News.

Excerpt:

Mitt Romney unveiled an energy plan Thursday that would give states the power to determine whether drilling and mining should occur on federal lands within their borders as part of a larger effort to increase domestic oil, coal and natural gas production and achieve energy independence by 2020.

[…]Under current law, the federal government controls oil, coal and gas permits for federal lands. But Romney argued determination should be up to state officials, insisting individual states are in a better position to “develop, adopt and enforce regulations” on local basis than the federal government–which his campaign says has been unduly influenced by Washington politics.

This is going to get him some votes in North Dakota, Montana, Ohio, Pennsylvania, West Virginia, Alaska, etc. We have a lot of energy just waiting to be extracted from the Bakken an Shale and the Marcellus Shale, for example. Just keep the federal government out it and get on with getting the price of gas back under $2. Put people back to work, too.

policy paper released ahead of the candidate’s speech by the Romney campaign argues President Barack Obama “has intentionally sought to shut down oil, gas and coal production in pursuit of his own alternative energy agenda.”

Romney said that loosening regulations on the energy industry will benefit taxpayers by lowering gas costs and reducing the cost of consumer goods, which have increased as companies pay higher energy prices. He’ll argue that allowing more federal drilling would not only bring money back into the nation’s budget but would result in lower energy prices that could create jobs, lower the trade deficit and increase the nation’s security.

“Three million jobs come back to this country by taking advantage of something we have right underneath our feet. That’s oil, and gas, and coal. We’re going to make it happen. We’re going to create those jobs,” Romney said Thursday. “Let me tell you what else it does. It adds $500 billion to the size of our economy. That is more good wages. That’s an opportunity for more Americans to have a bright and prosperous future.”

The push is part of what Romney touted as an effort to achieve energy independence by 2020, a plan that also includes expanding offshore energy development along the coast of Virginia and North and South Carolina as well as approval of the Keystone energy pipeline linking Canada to the United States.

I think that Romney is doing a good job now of articulating specific policies that will fix the economy.

CBO: If Bush tax cuts are not renewed, America is headed for another recession

From the Heritage Foundation.

Excerpt:

About 1.6 million American jobs hang in the balance. That is the clear implication of analysis contained in the annual budget update by the Congressional Budget Office (CBO).

Along with all manner of dire and dreary budget data reflecting President Obama’s budget and economic policies to date, CBO provides its assessment of what would happen if the President and Congress sit on their respective hands and fail to defuse the threats of Taxmageddon and the fiscal cliff. The answer is fairly simple: recession.

As CBO so diplomatically put it, “such fiscal tightening will lead to economic conditions in 2013 that will probably be considered a recession.”

Taxmageddon is the $500 billion tax hike slated to take effect on January 1, while the fiscal cliff consists of Taxmageddon plus various spending reductions—among them the sequestration left over from the disastrous negotiations that led to the Budget Control Act in 2011.

According to CBO’s analysis, if Congress defuses Taxmageddon and the fiscal cliff, then the economy will grow at a tepid 1.7 percent in 2013 and the unemployment rate will remain stuck around 8 percent. But if President Obama and Congress play chicken with Taxmageddon and fail to act, then the economy will contract by about 0.5 percent and the unemployment rate will shoot up to 9.1 percent, about halfway back to the peak from the past recession.

Forget percentages—what does this mean in actual jobs lost if President Obama and Congress fail to act? It means roughly 1.6 million more Americans will be out of work—on top of the 12.8 million who already want to work but can’t find jobs.

Just about every relevant school of economics, from the President’s pure Keynesianism to supply-side and neoclassical persuasions, tells much the same tale on net: Raising tax rates on a weak economy produces a weaker economy. It’s not terribly complicated.

Here’s my advice: This time, let’s elect someone with someone with experience in business administration and economics.