Throw ‘Em All Out…And Good Riddance!

Throw Them All Out Government Corruption by J.R. Dunn –
Crony capitalism is the most serious current danger to the American community, a threat not simply to government or the economy, but to our very way of life. It is the worst such threat since the trusts and monopolies of the early 20th century, and in much the same way. Cronyism is one of the major forces behind the establishment of the corrupt pseudo-aristocracy that has been taking shape in this country over the past two decades, a synthetic privileged class made up in large part of politicians, hustlers, and hangers-on who have become expert in exploiting the rest of us.

The legacy media, for some obscure reason, tends to bury discussions about this group. While the reportage on discrete incidents is there — see the parade of stories on Solyndra, Goldman Sachs, and MF Global for examples — we find little effort to pull it all together. Academics, with the single exception of Angelo Codevilla, who sounded the alarm two years ago in The Ruling Class, appear oblivious, as if they had no idea what’s going on, which may well be the case. [Read more…]

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America Slouching Towards Fiscal Armageddon

America Slouching Towards Fiscal ArmageddonAmerica is in grave danger. Our government’s out-of-control spending and our politicians’ refusal to implement meaningful budget reforms are leading us towards a fiscal crisis that can undermine our very way of life. We are spending ourselves into oblivion. With each passing day, we are $5 billion in deficit spending closer to the edge of an abyss that can cripple our economy, destroy America’s wealth, and lead to catastrophic social consequences for all current and future generations. Yet our leaders in Washington refuse to face reality and continue to play political games while the country’s budget crisis deepens and the threat grows exponentially.

In February of this year the US federal budget deficit grew by a record $224 billion; the biggest one-month increase in history. Worse still, the 2011 US budget deficit is forecast to reach $1.5 Trillion.  According to the non-partisan Congressional Budget Office (CBO) this annual deficit represents the largest budget gap in our country’s history, equivalent to approximately 10% of America’s total economic output.  This follows the enormous $1.3 Trillion deficit racked up for 2010 and will be superseded by an equally disturbing $1.65 Trillion deficit forecast for 2012. [Read more…]

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Budget Cuts Lingo, Stranger Than Fiction

Budget Cuts Sanity vs InsanityYesterday, the Senate Democrats soundly defeated the attempts by the Republicans in the House to implement a very minute cut for the 2012 federal budget. Referring to the approximately $61 billion that the GOP was recommending (a mere 1.6% when compared to the $3,700 billion budget being proposed) the Democrats “emphatically rejected a budget-slashing House spending bill as too draconian.”

Yes, you read that right, a 1.6% cut is deemed “draconian.” The party of “it depends on what the definition of “is” is”, is once again re-defining the meaning of language and distorting reality to promote its scorched earth political agenda. [Read more…]

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Your Money Belongs To Politicians

by Priscilla Petty –
If I had to pinpoint one single way in which our country has gone astray, I’d say that it’s when we allowed politicians to manipulate the tax code to benefit those whom they favor. There are many ways, of course, in which our country’s trajectory has taken a downward rather than upward turn, but politicians’ control of individual citizens’ money, their taking great quantities of it as though it actually belonged to the politicians to use for their own benefit and for politicians’ chosen purposes, has bankrupted us not only fiscally but morally. [Read more…]

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Economic Lunacy

9/13/2010 – Larrey Anderson –
I know logical lunacy when I see it. I may not be an economist, but as one trained in logic as a philosopher, I have been horrified by the recent economic policies of both Presidents G.W. Bush and B.H. Obama.

Let’s start with Bush and the first TARP bill. My heart broke when Bush announced the TARP program. I understood that the $750-billion blank check (to be spent at the discretion of the next Secretary of the Treasury — who turned out to be tax-cheat Timothy Geithner) might well trigger the end of our constitutional republic. [Read more…]

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Obama Buying More Union Votes With Your Tax Dollars

Obama Unions CorruptionPresident Obama has pledged more of your money to protect the unions and secure their vote. The administration demanded and got $26 billion taxpayer dollars to spare 300,000 teachers and other public workers from the unemployment lines.

The hundreds of billions of taxpayer money already spent by Obama and the Democrats since 2009 to pay off their union supporters was apparently not enough. Despite giving $100 billion in new funding to the Department of Education (DOE), courtesy of The American Recovery and Reinvestment Act (ARRA) of 2009, in addition to the $25 billion bailout that saved the GM and Chrysler auto union workers, more is needed to thank them for their continuing support and unquestioning loyalty.[Read more…]

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Congress Refuses to Outlaw Insider Trading For Lawmakers

by Peter Gorenstein –
Even a cynic can find Washington’s hypocrisy shocking at times. The Wall Street Journal reports today a House bill that would force lawmakers to make greater disclosures on financial transactions and disallow them from trading on nonpublic information is going nowhere fast.

That’s right. Members of Congress are currently allowed to profit on insider trading! [Read more…]

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