
Happy Birthday to a great President Barack Obama. He was born 50 years ago today. And to the birthers-Fuck you, Obama was born in Hawaii you racist pigs so get over it.
Oh and here is his Birth Certificate:

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After listening to the President’s press conference today, let’s keep in mind the following:
This is the same president who proposed an absurdly irresponsible budget that would increase our debt by trillions of dollars, and whose party failed to even put forward a budget in over 800 days! This is the same president who is pushing our country to the brink because of his reckless spending on things like the nearly trillion dollar “stimulus” boondoggle. This is the same president who ignored his own debt commission’s recommendations and demonized the voices of fiscal sanity who proposed responsible plans to reform our entitlement programs and rein in our dangerous debt trajectory. This is the same president who wanted to push through an increase in the debt ceiling that didn’t include any cuts in government spending! This is the same president who wants to slam Americans with tax hikes to cover his reckless spending, but has threatened to veto a bill proposing a balanced budget amendment. This is the same president who hasn’t put forward a responsible plan himself, but has rejected reasonable proposals that would tackle our debt. This is the same president who still refuses to understand that the American electorate rejected his big government agenda last November. As I said in Madison, Wisconsin, at the Tax Day Tea Party rally, “We don’t want it. We can’t afford it. And we are unwilling to pay for it.”
Now the President is outraged because the GOP House leadership called his bluff and ended discussions with him because they deemed him an obstruction to any real solution to the debt crisis.
He has been deemed a lame duck president. And he is angry now because he is being treated as such.
His foreign policy strategy has been described as “leading from behind.” Well, that’s his domestic policy strategy as well. Why should he be surprised that he’s been left behind in the negotiations when he’s been leading from behind on this debt crisis?
Thank you, GOP House leaders. Please don’t get wobbly on us now.
2012 can’t come soon enough.
- Sarah Palin

The campaigning politicians apparently cannot talk accurately about the economy. As I am not campaigning for anything, let me try to describe the economy as it is. The Democrats cannot talk accurately because if they did the average American would realize that the economy under President George W. Bush has not been so bad. Furthermore, the Democrats have not a clue as to how to improve it. All they would do with their promised tax increases and other extensions of the federal bludgeon onto the market would be to slow down an economy that is actually growing.
Did I say growing? Yes I did, but the Republicans cannot talk about the growing economy because if they did it would sound as though they had no compassion for those who are not doing particularly well in this economy. This is a rhetorical trick that the Democrats have imposed on the Republicans. So effective has it been in cowing the Republicans that quite possibly never again will a sitting president be able to boast of a record of economic achievement. To do so would be to ignore the less well off, even though there will always be less well off. For that matter, in every economy no matter how robust, there will be citizens in difficulty.
Nonetheless, someone ought to note the economic health of the present economy. Let me give it a try.
Yes, with gasoline pushing $4 a gallon and fuel oil at historic highs as we face the winter, there is reason to be apprehensive. Moreover, there are widespread declines in home prices. Financial institutions are failing. The equity market is down. And inflation is inching up. Yet that does not warrant describing this economy as being in "Depression," as Joe Stiglitz, the Clintonista, has said it is. Nor is it even in recession, as the Prophet Obama and his amiable sidekick, Senator Joe Biden, believe it to be.
In point of fact, we are living through the third longest peacetime expansion since 1857, which is about as far back as such calculations have been made. The growth continues. Last quarter's growth has now been revised upwards from just under 2% to a healthy 3.3%. Milton Friedman calculated that that real GDP grew at 3.25% since World War II, about the same as it has grown from the middle of the 19th century.
At the present the economy's growth is relatively healthy and its prospects are good. Sure catastrophe could strike, but it will have to be one whale of a catastrophe, say a big taxer in the White House surrounded by people with Saul Alinsky's vision of economics, which was socialism -- assuming that the old radical had any economic vision at all. Alinsky was the community organizer who inspired the Prophet. Incidentally, there is no evidence that Obama has had any managerial experience. Nor has he managed budgets of any size. Senator John McCain managed the largest air squadron in the Navy with a budget of over $1 billion. Governor Sarah Palin managed a small town and the state of Alaska.
So the economy is doing pretty well, though more can be expected and it is understandable that the citizenry does expect more. Since the beginning of the Reagan economic comeback, we have all lived through a period of unparalleled economic stability and vigor. If the Bush Administration was the third longest period of growth since 1857, the two longer periods were experienced in our lifetimes, in the Clinton Administration (120 months) and the Reagan Administration (92 months). It is natural that contemporary Americans expect more from their economy.
To expect it from the Prophet Obama, however, is a leap in faith and an investment in futility.

The "windfall profits" tax is back, with Barack Obama stumping again to apply it to a handful of big oil companies. Which raises a few questions: What is a "windfall" profit anyway? How does it differ from your everyday, run of the mill profit? Is it some absolute number, a matter of return on equity or sales -- or does it merely depend on who earns it?
Enquiring entrepreneurs want to know. Unfortunately, Mr. Obama's "emergency" plan, announced on Friday, doesn't offer any clarity. To pay for "stimulus" checks of $1,000 for families and $500 for individuals, the Senator says government would take "a reasonable share" of oil company profits.
Mr. Obama didn't bother to define "reasonable," and neither did Dick Durbin, the second-ranking Senate Democrat, when he recently declared that "The oil companies need to know that there is a limit on how much profit they can take in this economy." Really? This extraordinary redefinition of free-market success could use some parsing.
Take Exxon Mobil, which on Thursday reported the highest quarterly profit ever and is the main target of any "windfall" tax surcharge. Yet if its profits are at record highs, its tax bills are already at record highs too. Between 2003 and 2007, Exxon paid $64.7 billion in U.S. taxes, exceeding its after-tax U.S. earnings by more than $19 billion. That sounds like a government windfall to us, but perhaps we're missing some Obama-Durbin business subtlety.
Maybe they have in mind profit margins as a percentage of sales. Yet by that standard Exxon's profits don't seem so large. Exxon's profit margin stood at 10% for 2007, which is hardly out of line with the oil and gas industry average of 8.3%, or the 8.9% for U.S. manufacturing (excluding the sputtering auto makers).
If that's what constitutes windfall profits, most of corporate America would qualify. Take aerospace or machinery -- both 8.2% in 2007. Chemicals had an average margin of 12.7%. Computers: 13.7%. Electronics and appliances: 14.5%. Pharmaceuticals (18.4%) and beverages and tobacco (19.1%) round out the Census Bureau's industry rankings. The latter two double the returns of Big Oil, though of course government has already became a tacit shareholder in Big Tobacco through the various legal settlements that guarantee a revenue stream for years to come.
In a tax bill on oil earlier this summer, no fewer than 51 Senators voted to impose a 25% windfall tax on a U.S.-based oil company whose profits grew by more than 10% in a single year and wasn't investing enough in "renewable" energy. This suggests that a windfall is defined by profits growing too fast. No one knows where that 10% came from, besides political convenience. But if 10% is the new standard, the tech industry is going to have to rethink its growth arc. So will LG, the electronics company, which saw its profits grow by 505% in 2007. Abbott Laboratories hit 110%.
If Senator Obama is as exercised about "outrageous" profits as he says he is, he might also have to turn on a few liberal darlings. Oh, say, Berkshire Hathaway. Warren Buffett's outfit pulled in $11 billion last year, up 29% from 2006. Its profit margin -- if that's the relevant figure -- was 11.47%, which beats out the American oil majors.
Or consider Google, which earned a mere $4.2 billion but at a whopping 25.3% margin. Google earns far more from each of its sales dollars than does Exxon, but why doesn't Mr. Obama consider its advertising-search windfall worthy of special taxation?
The fun part about this game is anyone can play. Jim Johnson, formerly of Fannie Mae and formerly a political fixer for Mr. Obama, reaped a windfall before Fannie's multibillion-dollar accounting scandal. Bill Clinton took down as much as $15 million working as a rainmaker for billionaire financier Ron Burkle's Yucaipa Companies. This may be the very definition of "windfall."
General Electric profits by investing in the alternative energy technology that Mr. Obama says Congress should subsidize even more heavily than it already does. GE's profit margin in 2007 was 10.3%, about the same as profiteering Exxon's. Private-equity shops like Khosla Ventures and Kleiner Perkins, which recently hired Al Gore, also invest in alternative energy start-ups, though they keep their margins to themselves. We can safely assume their profits are lofty, much like those of George Soros's investment funds.
The point isn't that these folks (other than Mr. Clinton) have something to apologize for, or that these firms are somehow more "deserving" of windfall tax extortion than Big Oil. The point is that what constitutes an abnormal profit is entirely arbitrary. It is in the eye of the political beholder, who is usually looking to soak some unpopular business. In other words, a windfall is nothing more than a profit earned by a business that some politician dislikes. And a tax on that profit is merely a form of politically motivated expropriation.
It's what politicians do in Venezuela, not in a free country.
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