Tag Archives: Deficit

Friday night funny: Nancy Pelosi, Michele Bachmann and capitalism

Here’s Canadian-raised comedian Steven Crowder’s latest video. This one made me laugh out loud, and you will too! (H/T IMAO.us)

And here’s the lovely Michele Bachmann staying calm against Barney Frank. Beauty and the Beast! (H/T The Maritime Sentry)

Remember, Democrats caused the recession and Republicans tried to stop it! And Barney Frank was one of the main players in causing this recession, as you can see from the linked New York Times article. Now Michele has to come in and try to clean up their mess.

Fun cartoons

Here is an old-fashioned video on capitalism. I feel so subversive even showing them to you. This is the kind of thing real Americans used to learn about before the public schools were taken over by marxists, feminists and draft-dodging leftists! (H/T IMAO.us)

Part 1:

Part 2:

More old-fashioned capitalist propaganda here! This one is about energy production, enterprise and competition. It has little green men with pointy ears!

Happy Friday!

Who has the better economy? Canada or the USA?

Hans Bader at the Competitive Enterprise Institute reports:

1.2 million Americans have lost their jobs since the $800 billion stimulus package was signed into law.

The stimulus package has directly destroyed tens of thousands of jobs. A provision in the stimulus package that blocked 97 Mexican truckers from U.S. roads “caused Mexico to retaliate with tariffs on 90 goods affecting $2.4 billion in U.S. trade,” destroying 40,000 American jobs.

It also ignited a trade war with Canada. In response to vague “buy American” provisions in the stimulus package, “A number of Ontario towns, with a collective population of nearly 500,000, retaliated with measures effectively barring U.S. companies from their municipal contracts — the first shot in a larger campaign that could shut U.S. companies out of billions of dollars worth of Canadian projects.”

Yet, Obama had the audacity to claim that only passing the stimulus package would save us from “irreversible decline” and economic ““disaster”.

Obama’s policies echo those of Herbert Hoover, who helped spawn the Great Depression through his protectionism and tax increases.

Remember how Democrats used to complain about Bush and his “tax cuts for the rich”? Yeah, it’s strange how only people who pay taxes (59% of the public) can actually get tax cuts, isn’t it. But Obama has an even better idea: “tax hikes for the poor”.

The Washington Post reports on Obama’s new car tax: (H/T Heritage Foundation, Michelle Malkin, Stop the ACLU, Gateway Pundit)

A senior administration official said the new standards would raise the cost of an average car by $1,300, $600 of which could be attributed to the rules being announced today.

This is not to mention the electricity tax (cap and trade), the cigarette tax, taxing employee health care plans, and the rising cost of living caused by protectionism.

On the other hand, let’s take a look at Canada in relation to the United States, courtesy of the Cato Institute. (H/T Heritage Foundation)

The Cato Institute writes:

Spending: Spending by all levels of the Canadian government peaked at 53 percent of the country’s GDP in the early 1990s, then plunged to 40 percent in 2008. U.S. government spending has risen, reaching 39 percent of GDP in 2008. And with the stimulus package, that number is likely to jump even higher.

Government spending as % of GDP
Government spending as % of GDP

Debt: The Canadian government cut its debt from 71 percent of GDP in 1995 to 32 percent in 2008. Under President Obama’s budget plan, U.S. federal public debt will jump from 41 percent of GDP in 2008 to more than 60 percent next year.

Federal debt as % of GDP
Federal debt as % of GDP

Deficits: Canada has balanced its budget every year since 1998 — not by raising taxes, but by cutting spending. The United States balanced its budget for four years in the late 1990s, but now deficits are so large that it’s difficult to imagine that ever happening again.

Surplus / Deficit as % of GDP
Surplus / Deficit as % of GDP

Corporate Taxes: Canada has cut the corporate tax rate from 28 percent to just 15 percent, and most provinces have trimmed corporate taxes as well. The U.S. federalstate rate stands at about 40 percent, and the Obama administration is planning to increase corporate taxes.

Corporate tax rates
Corporate tax rates

It’s important to note that the Liberal party in Canada is socially progressive, but moderate on fiscal issues. Of course, now that the Conservatives have been running things, it’s gotten even better. It would be great if they could win a majority. The biggest problem in Canada right now is the fascist Human Rights Commissions, but there are candidates from the Conservative Party who intend to abolish the HRCs in BC and Ontario.

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?