Tag Archives: Obama

News

Obama imposes 5-year oil drilling moratorium on Atlantic coast

Leave a comment

From Breitbart.

Excerpt:

Yesterday the Obama administration announced a delaying tactic which will put off the possibility of new offshore oil drilling on the Atlantic coast for at least five years:

The announcement by the Interior Department sets into motion what will be at least a five year environmental survey to determine whether and where oil production might occur.

Virginia Gov. Bob McDonnell notes that a planned lease sale, which the administration cancelled last year, will now be put off until at least 2018. As you might expect, Republicans were not impressed with the decision:

“The president’s actions have closed an entire new area to drilling on his watch and cheats Virginians out of thousands of jobs,” said Rep. Doc Hastings, R-Wash., who chairs the House Natural Resources Committee. The announcement “continues the president’s election-year political ploy of giving speeches and talking about drilling after having spent the first three years in office blocking, delaying and driving up the cost of producing energy in America,” he said.

This is in addition to the moratorium on drilling in the Gulf that Obama imposed before.

Excerpt:

A moratorium on drilling in the Gulf of Mexico after the 2010 Deepwater Horizon oil spill plus a longer offshore oil and natural gas permitting processes will cost the U.S. more than $24 billion in lost oil and natural gas investment over the next several years, according to a report commissioned by the American Petroleum Institute.

The study by the energy industry trade group also found that, because of the moratorium and longer permitting process, capital and operating expenditures fell over the last two years by $18.3 billion.

The region saw $8.9 billion and $146 billion in investments in crude oil and natural gas, respectively — about 6 percent of global investment dollars. But that figure would have been closer to 12 percent for 2011 had the drilling moratorium not been put in place, the report said.

“As a result of decreases in investment due to the moratorium, total U.S. employment is estimated to have been reduced by 72,000 jobs in 2010 and approximately 90,000 jobs in 2011,” the report said.

In addition to closing an entire new area to drilling, Obama is also using environmental regulations to destroy jobs and raise energy prices.

Excerpt:

Despite rhetoric to the contrary, the Obama administration is poised to deal a major blow to U.S. oil and natural gas, a leading industry group charged Thursday.

Domestic production of both fuels could plummet if proposed Environmental Protection Agency regulations, designed to limit emissions from well sites, go into effect later this year, according to an extensive new study commissioned by the American Petroleum Institute.

The natural gas extraction technique known as “fracking” would be hardest hit, and fuel extracted via the popular process would drop by about 52 percent, according to a new study commissioned by API. Total gas production would decrease by about 11 percent, while domestic oil production could fall by as much as 37 percent, the report says.

Make no mistake – this Democrat administration is opposed to job creation in the energy sector and opposed to lowering gas prices.

News

Paul Ryan’s Path to Prosperity plan balances the budget without raising taxes

Leave a comment

Americans for Tax Reform explains what’s in it.

Excerpt:

The main details are:

Revenue neutrality.  The budget calls for the House Ways and Means Committee to produce a tax reform package with a tax revenue target of between 18 and 19 percent of GDP.  This is in line with historical revenue figures.  By contrast, big government budgets like “Gang of Six,” “Simpson-Bowles,” and the Obama budget call for a long-range revenue target of over 20 percent of GDP.  The Ryan budget is a no tax hikes budget.

Six personal rates down to two.  The Ryan budget replaces the current six-rate personal income tax structure (10, 15, 25, 28, 33, and 35 percent) with a two-rate system of 10 and 25 percent.  This will result in a lower tax rate on the majority of small business profits, from 33 or 35 percent down to 25 percent.

Repeals Obamacare tax hikes.  The Ryan budget eliminates the entire Obamacare law.  This includes repealing the 20 new or higher taxes which have taken or are about to take effect from that law.

Eliminate the AMT.  The Ryan budget eliminates the AMT, instead favoring a simpler system with lower rates and a broad tax base.

Lower rates on businesses.  As said above, the Ryan budget lowers the tax rate on the majority of small business profits to 25 percent.  It also lowers the federal income tax rate on larger corporate employers from 35 percent (the highest in the developed world) to 25 percent (closer to the developed nation average).  While this makes American companies more competitive, it would still leave us with a higher corporate income tax rate than the developed nation average, Canada, and the United Kingdom.  In order to make us truly internationally-competitive, the federal rate must fall to 20 percent or less.

No more picking winners and losers in the tax code.  In order to target revenues at 18-19 percent of GDP with tax rates no higher than 25 percent, the Ways and Means Committee will have to curtail or eliminate most tax exclusions, adjustments, deductions, and credits.  That means that all consumed income will be taxed once and only once.  No longer will the tax code favor one type of economic behavior over another.

Moves tax code from “worldwide taxation” to “territoriality.”  The Ways and Means Committee is directed to shift our tax code from one which seeks to tax income earned all over the world to one which only seeks to tax income earned in America.  This is known as “territoriality,” and it’s already been adopted by and large by our trading competitors.  By retaining a worldwide tax regime, we’re exposing our own countries to double taxation–once when they pay the foreign nation’s income tax, and again when they try to bring the money home.

This is what the budget does: (Debt as % of GDP)

Paul Ryan's 2013: The Path to Prosperity
Paul Ryan's 2013: The Path to Prosperity

Doug Ross has three nice charts explaining the details.

Is Barack Obama going to do anything about the debt?

According to CBS News, Obama has exploded our national debt, so there is no reason to trust anything he says about reducing the debt.

Excerpt:

The National Debt has now increased more during President Obama’s three years and two months in office than it did during 8 years of the George W. Bush presidency.

The Debt rose $4.899 trillion during the two terms of the Bush presidency. It has now gone up $4.939 trillion since President Obama took office.

The latest posting from the Bureau of Public Debt at the Treasury Department shows the National Debt now stands at $15.566 trillion. It was $10.626 trillion on President Bush’s last day in office, which coincided with President Obama’s first day.

The National Debt also now exceeds 100% of the nation’s Gross Domestic Product, the total value of goods and services.

Mr. Obama has been quick to blame his predecessor for the soaring Debt, saying Mr. Bush paid for two wars and a Medicare prescription drug program with borrowed funds.

The federal budget sent to Congress last month by Mr. Obama, projects the National Debt will continue to rise as far as the eye can see. The budget shows the Debt hitting $16.3 trillion in 2012, $17.5 trillion in 2013 and $25.9 trillion in 2022.

[…]His latest budget projects a $1.3 trillion deficit this year declining to $901 billion in 2012, and then annual deficits in the range of $500 billion to $700 billion in the 10 years to come.

If Mr. Obama wins re-election, and his budget projections prove accurate, the National Debt will top $20 trillion in 2016, the final year of his second term. That would mean the Debt increased by 87 percent, or $9.34 trillion, during his two terms.

Some of Bush’s debt total can be explained by considering that Nancy Pelosi and Harry Reid raised the debt by $5 trillion dollars over 4 years when they took control of the House and Senate in January of 2007. But they’re Democrats, and that’s what Democrats do.

Related posts

News

Eric Holder wants to brainwash people against legal gun ownership

3 Comments

Story here from the Daily Caller.

Excerpt:

Attorney General Eric Holder supported using Hollywood, the media and government officials in order to “really brainwash people” into opposing firearm ownership, according to a 1995 C-SPAN video that emerged Sunday online.

Holder, who was then the U.S. Attorney for the District of Columbia, was addressing the Women’s National Democratic Club on Jan. 30, 1995. In his speech, he held up anti-smoking campaigns as a model for an anti-gun campaign.

“What we need to do is change the way in which people think about guns, especially young people, and make it something that’s not cool, that it’s not acceptable, it’s not hip to carry a gun anymore, in the way in which we’ve changed our attitudes about cigarettes,” Holder said.

[…]Holder explained that he wanted to use influential figures like then-Washington, D.C. Marion Barry and the Rev. Jesse Jackson, as well as widely watched TV shows like “The Fresh Prince of Bel Air” and “Martin,” to forward his anti-gun campaign. He sought to push that same agenda through public schools as well, “every day, every school, at every level.”

Holder said these resources would be the driving force behind a campaign to “really brainwash people into thinking about guns in a vastly different way.”

Consider that the Obama administration has been implicated in a plan to smuggle assault weapons to Mexican drug cartels, so that they could then turn around and push for more controls against law-abiding gun owners who want to defend themselves from criminals.

The revelation that Holder wanted to “brainwash” people into being “anti-gun” appears to be supported by what Congress and the American people have learned about Operation Fast and Furious.

In Fast and Furious, the Obama administration’s Bureau of Alcohol, Tobacco, Firearms and Explosives – in a program overseen by Holder’s Department of Justice – sent about 2,000 guns south to Mexican drug cartels. The Obama administration did this via “straw purchasers” who bought guns in the United States with the intention of illegally trafficking them somewhere else.

[…]In a July 2010 email that surfaced in a congressional investigation, ATF Assistant Director Mark Chait asked Bill Newell, his agency’s lead agent in Phoenix to “see if these guns were all purchased from the same [dealer] and at one time.  We are looking at anecdotal cases to support a demand letter on long gun multiple sales.”

Statistics collected from the program eventually formed the backbone of that new long-gun reporting rule, which the administration implemented after Fast and Furious became a national scandal.

Got that? The Obama administration smuggled guns to Mexican drug cartels, and then turned around and used the gun smuggling they oversaw as an excuse to impose restrictions on legal gun owners who want to protect themselves from criminals – like the drug cartetls.

Also supporting allegations that Fast and Furious was a gun-control stalking horse are comments made by California Democratic Sen. Dianne Feinstein during a November 2011 hearing.

“My concern, Mr. Chairman, is there’s been a lot said about Fast and Furious, and perhaps mistakes were made, but I think this hunt for blame doesn’t really speak about the problem,” Feinstein said.

“And the problem is, anybody can walk in and buy anything, .50-caliber weapons, sniper weapons, buy them in large amounts, and send them down to Mexico. So, the question really becomes, what do we do about this?”

In his own written testimony in November, Holder complained that Congress “voted to keep law enforcement in the dark when individuals purchase multiple semi-automatic rifles and shotguns in Southwest border gun shops.”

And on Sunday another sign of Holder’s anti-gun advocacy surfaced when the blog The Right Scoop published excerpts from a Washington Post op-ed Holder wrote shortly after 9/11, in which he used the terrorist attacks as a rationale to push for more gun control laws.

Note that the Obama administration’s gun smuggling to Mexican drug cartels got two American law enforcement personnel killed and at least 300 Mexican civilians.

Excerpt:

During Fast and Furious, which was organized by the Bureau of Alcohol, Tobacco, Firearms and Explosives and overseen by the Department of Justice, the Obama administration sent thousands of weapons to Mexican drug cartels via “straw purchasers” who bought guns in the United States with the intention of illegally trafficking them somewhere else. This tactic is known as “gunwalking.”

Fast and Furious weapons were used to kill Border Patrol agent Brian Terry and at least 300 Mexican civilians.

[Jaime] Zapata was killed with guns that were purchased in Texas by two different traffickers. According to CBS News reports, both of those traffickers were under ATF surveillance without being arrested for a period of time while they were trafficking guns. Both were arrested at a later date.

The only question about this story is how high does it go up? Did Eric Holder order Operation Fast and Furious? Or did it come straight from Barack Obama? How far would Democrats go to make crime safe for criminals by enacting restrictions on legal gun ownership by law-abiding Americans?