The ornament of a house is
the friends who frequent it.
Ralph Waldo Emerson
My First JOTY Nomination of the New Year: Harry Reid
"[Katrina] The people of New Orleans and that area , they were hurt but nothing in comparison to what happened to [Sandy] the people in New York and New Jersey. Almost 1 million people have lost their homes; 1 million people lost their homes. "
From the Gray Lady:
While Sandy's costs are still being tabulated, it looks like the loss of life in the US was over 10 times worse in Katrina, and in all other areas except power outage, Katrina was nearly twice or worse across the board. What is wrong with Harry Reid? Why was it necessary to bring Katrina into the picture and lowball the suffering and losses of Katrina's victims and survivors?
Twitter Photo/Sign of the Day
"I did it to myself. I voted for Obama--Sorry".
IGNORANCE (of economics) is no excuse (for voting Obama). Ask your children and grandchildren for forgiveness. You, Obama, and the Dems have sentenced them to debtors' prison.
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| via Twitchy |
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| Courtesy of twitchy |
When you have a fast-talking lawyer like Obama as President, you better read the small print.
Happy New Year and happy payday! Thank goodness our “lord and savior” [re: Jamie Foxx] Obama signed the fiscal cliff bill into law after proudly proclaiming, “Under this law, more than 98 percent of Americans and 97 percent of small businesses will not see their income taxes go up.”You see, payroll taxes include not just any federal, state or local income tax withholding, but mandatory deductions/contributions for government-run retirement benefit programs (6.2% social security up to low six-figure wages, unlimited 1.45% Medicare--both matched by employers ).The unilateral reduction of 6.2% to 4.2% on the employee side for 2 years has exacerbated the social security program pay-as-you-go operational deficit. The GOP for fiscal reasons opposed renewal for last year, and the Obama Administration, trying to dress up the economic recovery in an election year, was ambivalent that the economy needed the small stimulus boost, and the Gray Lady wrote in early fall, with Geithner and Minority Leader Pelosi suggesting it should be allowed to expire; they were more focused on pushing progressive upper end income tax brackets.
If the Bush middle-class tax cuts had expired, tax increases would have gone up by a multiple of the restored 2-point cut. But Obama never said that that payroll taxes wouldn't go up--just federal income tax withholding (and any state/local income offsets of federal income taxes).
President for Life Obama? Not a Chance...
Investment newsletter publisher Porter Stansberry, perhaps best known for his widely promoted "End of America" video, is now pushing that a robust economic boom, ignited by the shale oil/gas revolution(despite of, not because of Obama), will propel Obama to FDR status and a third term. When a reader reminded him of the 22nd Amendment, he was dismissive, noting how strongmen like Hugo Chavez have sidestepped barriers under some version of democracy. (Speaking of Chavez, whom by some accounts is on his deathbed or at the least not well enough to attend his own inauguration this week, he may very have achieved his goal of President for life. One can only hope for the sake of Venezuela that the country be rid of the yoke of this socialist tyrant.)
First of all, any GOP member of Congress whom would vote for repealing the 22nd amendment would be committing political suicide. Second, there are more than enough Republicans to block the amendment in either chamber of Congress. Third, Obama failed to carry, I believe, 23 of the same states in both elections--more than enough to block the amendment in the improbable chance of its getting out of Congress. (There is the never used option of a constitutional convention but that's a Pandora's box no one wants to chance.) And even if by any miracle, unlimited terms became an option, it's very possible Bill Clinton would challenge Obama, more than willing to compare economics and fiscal record.
New York Congressman Serrano has introduced a resolution to repeal Presidential term limits. What is it about NY pols? You have Spitzer, Weiner, Bloomberg, Chris Lee, Rangel, Schumer, Nadler, and now this guy. Is there something in the water?
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| Courtesy of Twitchy |
Remember the infamous "bloody sock" victory over the Yankees in the Red Sox's improbable 2004 championship? Schilling seemed to be a solid conservative. I was not familiar with the 38 Studios failure. There is the baseball fan in me that cries, "Say it ain't so, Curt!" I do feel bad that he burned through his lifetime savings on a failed venture.
Hagel For Defense Secretary?
Barack Obama is expected to name controversial former GOP Senator Chuck Hagel tomorrow. I'm fine with Hagel, but I think it's going to be a tough sell on both sides of the aisle. Hagel vigorously questioned neo-con policies during Bush's second term. Personally, I'm puzzled. If Obama wanted a "wow" bipartisan factor, his first-election opponent John McCain, serving his final term in office, who gets along famously with State Department designee John Kerry, would be an easy sell (on the GOP side) and put a Senate seat in play. Or he could select retired former mentor Dick Lugar or prominent supporter Gen./Secretary Colin Powell. On the Dem side, there's recently retired Senator Joe Lieberman or former Presidential candidate Gen. Wesley Clark. What do I know? I'm just an armchair strategist....
When I went on Youtube the other day, I found myself watching AIG ads thanking taxpayers for their support, how well the US Treasury made out on the bailout ($15B according to the Huffington Post late last summer) I am opposed to bailouts on principle: it constitutes moral hazard and sets a bad precedent; it vests the government against industry competition; it is arbitrary and discriminatory: it typically favors bigger companies with lobbyist connections; it risks the people's money on a coercive basis.
Large companies often welcome regulation because it creates a competitive barrier; I often have to wear multiple hats for smaller clients/employers. In new oil boom territories like western North Dakota with near zero unemployment, compensation goes way over statutory minimum wage for even fast food places, a consequence of supply and demand. It is to the advantage of a business to hire when productivity levels off and workers can't keep up with demand for goods or services.
Musical Interlude: My Favorite Groups
The Carpenters, "Touch Me When We're Dancing". Richard Carpenter had a knack for panning for gold in remaking hits. This 1981 song would be their final adult contemporary #1 and Top 20/40 hit. They hadn't released new material in 3 years. Karen had been battling anorexia since 1975 and Richard himself was dealing with a prescription dependency. The following year she underwent treatment and seemed to have regained a healthy amount of weight but tragically her long illness had taken a toll: she experienced fatal heart failure at her parents' home in early 1983. She was briefly married during her illness to a real estate developer but the marriage didn't yield children; her older brother and mentor, Richard, was her only (surviving) sibling.
I will cover a few more minor hits before moving on to the Stylistics.
