Tag Archives: Socialism

News

South Korea and Canada face massive demographic crisis

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South Korea

Story from LifeSiteNews. (H/T Andrew)

Excerpt:

The Republic of Korea has signaled its willingness to work to reverse a heavily pro-abortion culture through various measures, including beginning to enforce an abortion ban that has technically existed in the country for decades, in order to address the severe demographic implosion that threatens the country’s economic stability, Korean sources report.

[…]Official data from the Ministry of Health indicates that doctors perform 350,000 abortions per year, while they deliver on average just 450,000 babies, meaning 43.7 percent of pregnancies end in abortion.

However, the actual number of abortions may be at least five times the official estimate. According to the Korea Times, Rep. Chang Yoon-seok of the ruling Grand National Party said that a National Assembly inspection in October found that the number of illegal abortions in Korea exceeds 1.5 million a year or roughly 4,000 babies aborted per day.

If the National Assembly’s estimate is correct, the nation of 48 million commits approximately the same number of abortions as the United States, which has 300 million residents. Presuming the numbers of births recorded by the Health Ministry remains the same, that would mean approximately three out of four pregnancies in South Korea end in abortion.

Perhaps we need to undo anti-family policies like legalized abortion, unilateral divorce, high tax rates and a massive social programs. These policies discourage marrying and child-bearing, which prevent the creation of the next generation of taxpayers who must pay for these expensive welfare-state programs.

Canada

New research paper from the center-right C.D. Howe Institute. (H/T Andrew)

Excerpt:

The twin demographic challenges of an aging population and slow workforce growth will affect Canada’s Atlantic provinces more acutely than other regions of the country, according to a study released today by the C.D. Howe Institute. In “Stress Test: Demographic Pressures and Policy Options in Atlantic Canada,” authors Colin Busby, William B.P. Robson and Pierre-Marcel Desjardins warn that many years of low birthrates and youth outmigration mean that the Atlantic region faces diminished workforce growth and a fiscal squeeze as fewer taxpayers support a growing bill for public programs.

Massive numbers of elderly people retiring and very few young workers available to pay the taxes for their health care and retirement entitlements. Something has to give.

Commentary

Thomas Sowell explains how politicians cause recessions while getting elected

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Article here at Townhall.com. (H/T ECM)

Excerpt:

After the cascade of economic disasters that began in the housing markets in 2006 and spread into the financial markets in Wall Street and even overseas, people in the private sector pulled back. Banks stopped making so many risky loans. Home buyers began buying homes they could afford, instead of going out on a limb with “creative”– and risky– financing schemes to buy homes that were beyond their means.

But politicians went directly in the opposite direction. In the name of “rescuing” the housing market, Congress passed laws enabling the Federal Housing Administration to insure more and bigger risky loans– loans where there is less than a 4 percent down payment.

A recent news story told of three young men who chipped in a total of $33,000 to buy a home in San Francisco that cost nearly a million dollars. Why would a bank lend that kind of money to them on such a small down payment? Because the loan was insured by the Federal Housing Administration.

The bank wasn’t taking any risk. If the three guys defaulted, the bank could always collect the money from the Federal Housing Administration. The only risk was to the taxpayers.

Does the Federal Housing Administration have unlimited money to bail out bad loans? Actually there have been so many defaults that the FHA’s own reserves have dropped below where they are supposed to be. But not to worry. There will always be taxpayers, not to mention future generations to pay off the national debt.

Very few people are likely to connect the dots back to those members of Congress who voted for bigger mortgage guarantees and bailouts by the FHA. So the Congressmen’s and the bureaucrats’ jobs are safe, even if millions of other people’s jobs are not.

Congressman Barney Frank is not about to cut back on risky mortgage loan guarantees by the FHA. He recently announced that he plans to introduce legislation to raise the limit on FHA loan guarantees even more.

Congressman Frank will make himself popular with people who get those loans and with banks that make these high-risk loans where they can pocket the profits and pass the risk on to the FHA.

So long as the taxpayers don’t understand that all this political generosity and compassion are at their expense, Barney Frank is an odds-on favorite to get re-elected. The man is not stupid.

Can you guess which political party Barney Frank represents?

News

Congresswomen denounce Obamacare’s rationing of breast cancer exams

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These are the best and brightest conservative women in the House.

I am all in favor of cutting health care costs – but that doesn’t mean cutting the throats of patients to save money.

How conservative are they?

Here are their 2008 and 2007 congressional ratings from the American Conservative Union.

  • Michele Bachmann (MN) – 100% and 100%
  • Marsha Blackburn (TN) – 96% and 100%
  • Sue Myrick (NC) – 91% and 96%
  • Jean Schmidt (OH) – 87% and 92%
  • Cathy McMorris Rodgers (WA) – 92% and 85%
  • Candice Miller (MI) – 63% and 72%

All SIX of these women members of the Pro-Life Women’s Caucus!