Showing posts with label Barack Obama. Show all posts
Showing posts with label Barack Obama. Show all posts

Thursday, August 4, 2011

Happy Birthday to President Barack Obama!



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:

Tuesday, August 2, 2011

My thoughts on the debt agreement-Update

The debt ceiling agreement passed the House last night and will likely pass the Senate today and President Obama will sign it.

Personally I think this debt agreement is terrible. While the debt ceiling is raised, the cuts are too deep and there is no tax increase for the wealthy.

I realize compromise is not perfect but this is terrible. It's not compromise when one side gets much more than the other. That is called taking it in the ass.

The Republicans in both houses of Congress should be tried for treason. In my opinion the real reason they dragged this out is because they want the economy to tank so the voting public has a reason to elect a Republican for president in 2012. Wanting the president to fail is treason. As much as I despise George W. Bush I never wanted him to fail, but I knew he would, and he did. Much more than I imagined he would.

The Democrats need to fight harder and all liberal voters need to get their ass to the polls in 2012 and vote them cousin loving Teathuglicans out.

What debt ceiling agreement would be complete without the Big Mouth flapping her jaw?


Joe Biden is absolutely correct. The Teabaggers are terrorists.

Update-I would be remiss to not mention I was inspired by Gabby Giffords return to the House Floor, even if she is not my Congresswoman. Another poster on another blog mentioned she is the Real Undefeated. Yes my friend that is absolutely correct.

Sunday, July 31, 2011

Breaking News-President Obama announces deal

From CNN
Washington (CNN) -- Two days before the deadline for a possible U.S. government default, President Barack Obama and congressional leaders reached agreement Sunday on a legislative package that would extend the federal debt ceiling while cutting spending and guaranteeing further deficit-reduction steps.

The proposed $3 trillion deal, which still requires congressional approval, brought some immediate relief to global markets closely watching the situation play out and a nation filled with anger and frustration over partisan political wrangling that threatened further economic harm to an already struggling recovery.

However, there was no guarantee the plan will win enough support to pass both chambers of Congress.

Democratic and Republican leaders in both the House and Senate were briefing their caucuses about the agreement on Sunday night or Monday.

Sen. John Hoeven, R-North Dakota, earlier told CNN that cuts to military spending were a final sticking point.

House Minority Leader Nancy Pelosi, D-California, told reporters that she needs to see "the final product" in writing before she can decide if she supports it.

Pelosi said she would meet with the House Democratic caucus on Monday to discuss the matter.

"I don't know all the particulars of what the final product is in writing and what the ramifications will be," Pelosi said, noting the measure will have an impact for a decade or more. Asked about the outcome, she warned: "We all may not be able to support it or none of us may be able to support it."

In the face of an August 2 deadline to get new authorization to borrow money or face a possible government default, congressional leaders and the White House were trying to complete the agreement that would extend the debt limit through 2012 -- a presidential election year.

Earlier, Reid's Republican counterpart in the Senate said the two parties were "very close" to reaching a deal that would bring $3 trillion in deficit reduction.

"We had a very good day yesterday," Senate Minority Leader Mitch McConnell, R-Kentucky, told CNN, adding that the two sides "made dramatic progress" in negotiations on a deal that would cut government spending and raise the federal debt ceiling.

Another Republican senator, Johnny Isakson of Georgia, later told reporters he expected a Monday vote on a compromise.

"It feels like they're going to finish the deal today and then we'll have the vote tomorrow," Isakson said, adding he supports the plan under discussion.

Democrats in Congress and the Obama administration agreed that progress has been made.

"If there's a word right here that would sum up the mood, it would be relief -- relief that we won't default," Sen. Chuck Schumer, D-New York, said on CNN. "That's not a certainty, but default is far less of a possibility now than it was even a day ago."

If Congress fails to raise the current $14.3 trillion debt ceiling by Tuesday, Americans could face rising interest rates and a declining dollar, among other problems.

Some financial experts have warned of a downgrade of America's triple-A credit rating and a potential stock market plunge. The Dow Jones Industrial Average dropped for a sixth straight day on Friday.

Without an increase in the debt limit, the federal government will not be able to pay all its bills next month. President Barack Obama recently indicated he can't guarantee Social Security checks will be mailed out on time.

In Afghanistan on Sunday, Joint Chiefs of Staff Chairman Adm. Mike Mullen was unable to assure U.S. troops they would get their paychecks following the August 2 deadline without a deal. Mullen said August 15 would be the first payday jeopardized if the United States defaults.

Last week, a Department of Defense official told CNN on condition of not being identified that "it's not a question of whether, but when" military pay gets withheld if no agreement is reached.

Vice President Joe Biden arrived at the White House on Sunday morning, though no additional formal talks involving the administration and congressional leaders have been announced. A Democratic source told CNN on condition of not being identified that Biden was engaged in behind-the-scenes negotiations with both congressional legislators and the administration.

Initial news of a possible deal came shortly after the Senate delayed consideration of a debt ceiling proposal by Reid late Saturday night, pushing back a key procedural vote by 12 hours. When that vote occurred on Sunday afternoon, Republicans blocked a Democratic effort to end debate on the Reid proposal and move to a vote, extending consideration of the plan while negotiations continue.

The vote was 50-49, short of the super-majority of 60 required to pass.

Reid plans to insert a negotiated final agreement into the proposal once a deal has been reached. When it became clear that Democrats would lose Sunday's vote, Reid voted against his own plan in a procedural move to preserve the ability to bring it up again.

According to McConnell and other congressional and administration officials interviewed Sunday, as well as various sources who spoke to CNN on condition of not being identified, the deal under discussion would be a two-step process intended to bring as much as $3 trillion in deficit reduction over 10 years.

Some sources provided differing targets for the total, ranging from $2.4 trillion up to $3 trillion.

A first step would include about $1 trillion in spending cuts while raising the debt ceiling about the same amount. The proposal also would set up a special committee of Democratic and Republican legislators from both chambers of Congress to recommend additional deficit reduction steps -- including tax reform as well as reforms to popular entitlement programs such as Medicare and Social Security.

The committee's recommendations would be put to a vote by Congress, without any amendments, by the end of the year. If Congress fails to pass the package, a so-called "trigger" mechanism would enact automatic spending cuts. Either way -- with the package passed by Congress or the trigger of automatic cuts -- a second increase in the debt ceiling would occur, but with an accompanying congressional vote of disapproval.

In addition, the agreement would require both chambers of Congress to vote on a balanced budget amendment to the U.S. Constitution. Such an amendment would require two-thirds majorities in both chambers to pass, followed by ratification by 38 states -- a process likely to take years.

Schumer told CNN that a main sticking point still under discussion was the trigger mechanism of automatic spending cuts in case Congress fails to enact the special committee's recommendations.

According to sources, cuts in the trigger mechanism would be across-the-board, including Medicare and defense spending, to present an unpalatable alternative for both parties in the event Congress fails to pass the special committee's proposal.

"You want to make it hard for them just to walk away and wash their hands," Gene Sperling, the director of Obama's National Economic Council, told CNN. "You want them to say, if nothing happens, there will be a very tough degree of pain that will take place."

Preliminary reaction showed sensitivity to that pain. Sen. Carl Levin, D-Michigan, said the automatic spending cuts under a trigger mechanism should not affect Medicare benefits for senior citizens.

"The way we understand it's going to be worded is it does not affect beneficiaries. It would affect providers and insurance companies," Levin said. "That should be the case, because if it hits beneficiaries, you're going to lose lots of Democratic votes."

Meanwhile, former U.S. ambassador to the United Nations John Bolton, an aide to former Republican President George W. Bush, warned that automatic spending cuts for the military under the trigger would put national security at risk.

"By exposing critical defense programs to disproportionate cuts as part of the 'trigger mechanism,' there is a clear risk that key defense programs will be hollowed out," Bolton said in a statement.

Overall, the agreement under discussion would increase the debt limit in two stages, both of which would occur automatically -- a key Democratic demand that would prevent a repeat of the current crisis before the next election.

McConnell, who appears to have become the lead Republican negotiator, said he is "very, very close to being able ... to recommend to my members that this is something that they ought to support."

The deal will not include tax increases, McConnell added, expressing a key demand of Republicans. Obama has pushed for a comprehensive approach that would include additional tax revenue as well as spending cuts and entitlement reforms to reduce budget deficits.

Reid, D-Nevada, said Saturday night that the delay in considering his proposal was additional time for negotiations at the White House.

His announcement capped a day of sharp partisan voting in the House and extended talks behind closed doors between congressional and administration officials. Concern continued to grow that Congress will fail to raise the nation's debt ceiling in time to avoid a potentially devastating national default this week.

Earlier Saturday, the Republican-controlled House rejected Reid's plan -- partisan payback for the Democratic-controlled Senate's rejection of Boehner's plan Friday night.

House members rejected Reid's plan in a 246-173 vote. Most Democrats supported the measure; every Republican voted against it.

For their part, Republicans continued to trumpet Boehner's proposal. The measure won House approval Friday, but only by a narrow margin after a one-day delay during which the speaker was forced to round up support from wary tea party conservatives.

Boehner's deal with conservatives -- which added a provision requiring congressional approval of a balanced budget amendment in order to raise the debt limit next year -- was sharply criticized by Democrats, who called it a political nonstarter.

Democratic leaders vehemently object not only to the balanced budget amendment, but also the GOP's insistence that a second debt ceiling vote be held before the next election. They argue that reaching bipartisan agreement on another debt ceiling hike during an election year could be nearly impossible, and that short-term extensions of the limit could further destabilize the economy.

Leaders of both parties now agree that any deal to raise the debt ceiling should include long-term spending reductions to help control spiraling deficits. But they have differed on both the timetable and requirements tied to certain cuts.

Boehner's plan proposed generating a total of $917 billion in savings while initially raising the debt ceiling by $900 billion. The speaker has pledged to match any debt ceiling hike with dollar-for-dollar spending cuts.

His plan would require a second vote by Congress to raise the debt ceiling by a combined $2.5 trillion -- enough to last through the end of 2012. It would create a special congressional committee to recommend additional savings of $1.6 trillion or more.

Any failure on the part of Congress to enact mandated spending reductions or abide by new spending caps would trigger automatic across-the-board budget cuts.

The plan also calls for congressional passage of a balanced budget amendment before the second vote to raise the debt ceiling.

Reid's plan, meanwhile, would reduce deficits over the next decade by $2.4 trillion and raise the debt ceiling by a similar amount. It includes $1 trillion in savings based on the planned U.S. withdrawals from military engagements in Afghanistan and Iraq.

Reid's plan also would establish a congressional committee made up of 12 House and Senate members to consider additional options for debt reduction. The committee's proposals would be guaranteed by a Senate vote with no amendments by the end of the year.

In addition, it incorporates a process based on a proposal by McConnell that would give Obama the authority to raise the debt ceiling in two steps while providing Congress the opportunity to vote its disapproval.

Among other things, Reid has stressed that his plan meets the key GOP demand for no additional taxes. Boehner, however, argued last week that Reid's plan fails to tackle popular entitlement programs such as Medicare, which are among the biggest drivers of the debt.

A recent CNN/ORC International Poll reveals a growing public exasperation and demand for compromise. Sixty-four percent of respondents to a July 18-20 survey preferred a deal with a mix of spending cuts and tax increases. Only 34% preferred a debt reduction plan based solely on spending reductions.

According to the poll, the public is sharply divided along partisan lines; Democrats and independents are open to a number of different approaches because they think a failure to raise the debt ceiling would cause a major crisis for the country. Republicans, however, draw the line at tax increases, and a narrow majority of them oppose raising the debt ceiling under any circumstances.

Bout fucking time! And to all you 535 members of Congress, vote yes!

Sunday, July 24, 2011

Sarah disrespects President Obama, again on Facebook

From Facebook

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

Let me correct some things here, there has been a budget deficit since 2001, the year George Dumbya Bush took over, not 800 days. We had a budget surplus during most of the Clinton administration and Bush wiped it out in less than a year. Bush also raised the debt ceiling 7 times

Bush also promised to pay off the debt, which he never did. And he cut taxes for the wealthiest Americans.

Saint Ronald Reagan raised it 18 times.

Bill Clinton? Four times

The tax raises President Obama wants is for the people making over $250,000 a year. That is about 2% of the population.

If anyone here is a lame duck, it's John Boehner and Eric Cantor. Also the rest of the Republican lawmakers who say no to every proposal the President makes.

Saturday, May 7, 2011

Sarah Palin shut the fuck up!

The idiot's tweet regarding  President Obama's decision not to release photos of Osama bin Laden's corpse:





Sarah no one gives a fuck what you think.  So shut the fuck up and go away!  Why MSNBC even mentioned you in their story about Republicans opposed to the decision is beyond me.  You thought North Korea was our ally.

Monday, May 2, 2011

Sarah and Joe Miller can't even thank President Obama for getting Bin Laden

From the She-Devil's Facebook page:

Americans tonight are united in celebration and gratitude. God bless all the brave men and women in our military and our intelligence services who contributed to carrying out the successful mission to bring Bin Laden to justice and who laid the groundwork over the years to make this victory possible. It’s a testament to the hard work and dedication of these brave Americans who relentlessly hunted down our enemy.

This is a victory for the American people, for the victims who were heartlessly murdered on September 11 and in Al Qaeda’s other numerous attacks, and for all the peace-loving people of the world.

May God bless our troops and our intelligence services, and God bless America!



- Sarah Palin



She can't give credit where credit is due. Yes the Navy Seals went in and killed Bin Laden, but it was PRESIDENT OBAMA who gave the orders. Sarah you are a bitter, bitter woman.

If John McCain, Tim Pawlenty, and ex President Bush Jr can congratulate him so can you.


.

Friday, April 29, 2011

Wednesday, April 20, 2011

Sarah insults the President again

You can check it out here 
She is really obsessed with him, and she didn't even run against him in 2008, she ran against Joe Biden.  Sarah you need a shrink.  And get rid of the Star of David, it is a religious symbol (not even your religion) not a fashion accessory.

Friday, April 8, 2011

Reason #49 not to vote for Sarah Palin for anything

She is completely obsessed with President Barack Obama

In a Runner's World article, she brags about how she could beat him in a race

In a Time magazine article her spokesperson Meg Stapleton claimed there was a White House conspiracy aimed at her led by former Obama Chief of Staff Rahm Emmanuel.

She attacks his manhood by saying he doesn't have the cajones to fight illegal immigration.

She went to Facebook to start a rumor that Obama was setting up "Death Panels"

Palin criticizes him on everything, the Egypt situationLibyaGulf Oil Spill cleanupgoing on "The View" nuclear weapons, the Underwear bomber, gas prices, Wikileaks, and too many other things here to mention.

She has even attacked First Lady Michelle Obama for encouraging breastfeeding and healthy eating.

Sarah acts like President Obama stole the presidency away from her when it is not true.  In fact she was running against Joe Biden for Vice President.  She acts like a Jr. High kid who didn't get asked to the dance by the most popular boy in school.  Grow up Sarah!

Monday, April 4, 2011

Sarah Palin supported Barack Obama for she was against him

From Newsvine

Sarah Palin is a closet Obama fan. Don't take MY word for it. Her own words speak for themselves.
A few weeks ago, when Palin figured she was no longer in contention, she opened up a bit. The following is an excerpt from a recent article in The New Yorker. (Didn't like their infamous cover, but this article is interesting.)

Read it closely. Her own words reveal her admiration for Barack Obama.

(Article preface) 'Before she was running against him, Sarah Palin--the governor of Alaska and now the Republican candidate for Vice-President of the United States--thought it was pretty neat that Barack Obama was edging ahead of John McCain in her usually solidly red state.

After all, she said, Obama's campaign was using the same sort of language that she had in her gubernatorial race.'

(Quote from the article) "The theme of our campaign was new energy. It was no more status quo, no more politics as usual, it was all about change. So then to see that Obama - literally, part of his campaign uses those themes, even, new energy, change, all that, I think, O.K., well, we were a little bit ahead on that."

She also noted, "Something's kind of changing here in Alaska, too, for being such a red state on the Presidential level. Obama's doing just fine in polls up here, which is kind of wigging people out, because they're saying, 'This hasn't happened for decades that in polls the 'D' - the Democratic candidate - is doing just fine. To me, that's indicative, too. It's the no-more-status-quo, it's change."

What was THAT again? The only thing she isn't doing with this statement is actually STUMPING for Barack Obama.

Or maybe she is.

'Vote Obama. Even the Republican Vice-Presidential nominee likes him...'

John McCain and his campaign advisors should have vetted their selection just a bit more, I think.

You can read the entire article from The New Yorker HERE.

Well isn't this rich!  Maybe that is her plan all along, get Obama re-elected by acting like a total crazy, psychotic bitch.

Friday, February 18, 2011

Sarah Palin shows her ignorance once again

This time in Long Island, my comments are in bold black

Sarah Palin, in a rare public appearance at which reporters were allowed, praised lawmakers threatening to vote against raising the federal debt ceiling. She stuck to her guns on "death panels" Thursday and continued tweaking the first lady's efforts to fight childhood obesity, but she chided some of her own supporters for sustaining the "annoying" claims that President Barack Obama is foreign-born and Muslim.

As for the big question — whether she's running for president in 2012 — the former vice presidential Republican nominee said she's thinking about it.

"No one is more qualified, really, to multitasking and the things you need to do as president, than a woman, a mom," said the former Alaska governor, who has five children.

Palin sat for a wide-ranging interview with the president of the Long Island Association, a business group outside New York, at the group's annual meeting. Kevin Law pressed her on gun rights, potential presidential aspirations and how she usually communicates through Facebook and Fox News, where she is a contributor, rather than talking to reporters.

Reporters were allowed at the New York event, unlike many Palin speaking engagements where they have been banned, but they did not get a chance to ask questions.

Law asked Palin if she would support efforts to restrict semiautomatic weapons or multi-bullet clips, like the clips used in a shooting last month in Tucson, Ariz., that left six people dead and U.S. Rep. Gabrielle Giffords critically wounded.

"There are already on the books many gun control measures, and I do support those that are on the books. I do not support taking away more freedom from the good guy," Palin said. "The people who have no intention of using that weapon to harm another person so, no additional gun control measures could be supported."

Palin was criticized after the shootings for having published campaign literature that marked some Democratic districts, including Giffords', with crosshairs, but she pushed back, saying Republicans were being unfairly blamed for the act of a crazed shooter.

She said Thursday, "Prayers should continue for the full recovery of Gabby Giffords and others who were involved in such a tragic, tragic event."

THE DAY SARAH PRAYS FOR ANYTHING IS THE DAY HELL FREEZES OVER

Palin criticized Obama on a range of issues, from his handling of the recent democratic uprising in Egypt to his latest budget proposal, which she said would do little to close the deficit. She claimed the press had been complicit in allowing Obama to claim that his budget did not add to the national debt. The White House expects government spending and revenues to eventually reach balance, but that doesn't include interest payments on the debt.

"Criticism of the press is what I do," Palin said.

AND SHE DOES IT ONLY WHEN THEY CRITICIZE HER

Whether she runs for president or not, Palin predicted an unconventional Republican contest in which social media would play a pivotal role.

"That's what going rogue is all about," Palin said, referring to the title of her best-selling memoir.

She also praised the tea party movement, saying it had forced Republicans and Democrats to "rethink the way they do business." She said she supported tea party-supported lawmakers' push for entitlement reform and their threats to vote against increasing the debt ceiling.

Palin did, however, distance herself from the so-called birthers, who believe Obama was not born in the United States, and others who contend he is not Christian, as he insists, but Muslim. She said she does not question the president's faith or citizenship and added, "It's distracting. It gets annoying. Let's stick with what really matters."

SHE'S TRYING TO COVER HER ASS

Palin said the landmark health care bill Obama signed into law last year gave her heartburn. She also defended her much-criticized claim that the law would lead to federal "death panels" determining who would receive care. Provisions of the law that were dropped called for voluntary end-of-life planning.

"My question was, 'Who are these faceless bureaucrats on a panel who will decide?'" Palin said. "Will it be my baby with Down syndrome, who maybe somebody may judge him as not having that level of productivity somebody else may have? So maybe if rationed care is part of this, maybe he wouldn't receive the care."

LIKE SHE REALLY GIVES A FLYING FUCK ABOUT TRIG.  SHE ONLY CARRIES HIM LIKE A SACK OF POTATOES AND USES HIM AS A PROP

Palin also noted the recent increases in the price of food and mocked Michelle Obama to make her point. The first lady is encouraging mothers to breast-feed their infants as part of her campaign to reduce childhood obesity — an effort that has drawn scorn from some conservatives.

"No wonder Michelle Obama is telling everybody you better breast-feed your babies," said Palin, who as governor declared October 2007 Breastfeeding Awareness Month. "I'm looking and say, 'Yeah, you better because the price of milk is so high right now.'"

POT MEET KETTLE.  THE PRICE OF MILK BEGAN TO RISE DURING DUMBYA'S REGIME.  I'M NOT A MOTHER BUT I KNOW BREAST MILK IS MUCH HEALTHIER THAN STORE BOUGHT FORMULA.  BUT THEN AGAIN SARAH HAS PROVEN OVER AND OVER TO BE AN UNFIT MOTHER.  HER OLDEST SON IS A VANDAL, HER OLDEST DAUGHTER WAS A KNOCKED UP TEENAGER WHOS TURNED INTO SARAH 2.0, HER MIDDLE DAUGHTER IS TAKING AFTER HER BIG BROTHER IN VANDALISM AND DRUG USE, HER YOUNGEST DAUGHTER NEVER ATTENDS SCHOOL, AND SHE TREATS HER YOUNGEST SON (LEGALLY YES HE IS HER SON BUT BIOLOGICALLY NO) LIKE  A PROP AND NEGLECTS HIS THERAPY.

Monday, February 14, 2011

Happy Valentine's Day

Wishing you and yours a Happy Valentine's Day

Here is a couple in love:


And a couple, let's just say, not so much in love:


Thursday, February 5, 2009

Change?




100 tons of garbage left behind by Obama supporters the day of the Presidential inauguration. So much for personal responsibility...

Monday, September 15, 2008

Monday With McCain


"I'm John McCain, and I approved this message."---at the conclusion of an ad falsely accusing Barack Obama of promoting sex education for kindergarten children

Thursday, September 11, 2008

Typical Republican Wisdom

Did you know that the economy is "not so bad" under the Bush Administration and the Republicans? Well...Not to defend George Bush but...He did Nationalize Fannie Mae and Freddie Mac...That's a good thing, right?

Courtesy of The American Spectator and Robert Emmett Tyrrell, Jr.:

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.


As Jeff Spicoli would say...You Dick!!!

The New Faces Of Politics

Where is Joe Biden?



Tuesday, August 5, 2008

It's All In The Details, Barack!


Yes. Now it's Barack Obama's turn. It goes without saying that I am not a supporter of Sen. John McCain. The 2008 presidential election is Barack Obama's for the taking. But Obama will lose should he continue obfuscating his "policies."

From the Wall Street Journal online:
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.


My question to you is this: define "reasonable." Quite frankly, I don't want Barack Obama or John McCain to define "reasonable" for me--I would prefer that you and I define what is reasonable. Why not place a windfall profit tax on Google and hand it out to those of us who need it? After all, Google had a profit margin of 25.3%! Dude, that's totally unreasonable! They should be forced to invest those excessive and immoral profits in a product that is completely outside the realm of their business model. Oh, wait, this only applies to oil companies. Or does it? Is Barack Obama going to tell businesses that it is "reasonable" to make 15% a year profit, but that it is "unreasonable" to make 16% a year profit?

Maybe Barack Obama is the new "decider?"