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Barack O's Modern Life

Barack O's Modern Life

A humorous look at politics and life under Barack Obama

"In a society based on free discussion, the appropriate recourse is for me to seek to persuade them that their tastes are bad and that they should change their views and their behavior, not to use coercive power to enforce my tastes and my attitudes on others."
-Milton Friedman
Tue Aug 18

Oh, General Motors


(Image via Reuters)

Reuters reports:
General Motors Co said on Tuesday it is increasing production for the second half of 2009 after a surge in sales ignited by the U.S. government’s “Cash for Clunkers” incentives program.

The No.1 U.S. carmaker said it would build 60,000 more vehicles than planned for the third and fourth quarters by increasing overtime, adding shifts at several North American assembly plants.

Ever hear the one about the restaurant owner who expanded his building and hired a larger staff during the circus? Yeah, well shortly after the circus left the restaurant went under, leaving all at the unemployment line and a disgruntled owner in disbelief.

This artificial spike in sales cannot last forever. As we all saw, the $1 billion that C4C was originally given dried up extremely fast. After the new $2 billion evaporates what then? Do we keep subsidizing the ailing companies? I don’t think even this congress will have the cojones to extend it much further.

If GM were to increase their production and employment under normal free-market factors, this would not be an issue; however, this fabricated sales increase has now supplied a false sense of growth. After the funds run out, GM is left with an increased number of cars and a larger number of employees to pay. As noted a couple months ago, THEY CAN’T AFFORD IT.

Now one might say, once the C4C program runs out GM will decrease production to normal levels as well as staff hours… Right, I’m sure they will know exactly when to draw back, and even if they did have that knowledge I’m sure they wouldn’t anyway with the government back-up. So GM, when the circus leaves, who’s going to fund your company?

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Mon Aug 17

The incoming president of the Canadian Medical Association says this country’s health-care system is sick and doctors need to develop a plan to cure it.

Dr. Anne Doig says patients are getting less than optimal care and she adds that physicians from across the country - who will gather in Saskatoon on Sunday for their annual meeting - recognize that changes must be made.

Via Google News. Well duh!
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Fri Aug 14

More than 150 publicly traded U.S. lenders own nonperforming loans that equal 5 percent or more of their holdings, a level that former regulators say can wipe out a bank’s equity and threaten its survival.

The number of banks exceeding the threshold more than doubled in the year through June, according to data compiled by Bloomberg, as real estate and credit-card defaults surged. Almost 300 reported 3 percent or more of their loans were nonperforming, a term for commercial and consumer debt that has stopped collecting interest or will no longer be paid in full.

Via Bloomberg. Hey, wasn’t this what TARP was for? hmmm
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Wed Aug 12

Health Care in Numbers

Before I provide this vital information let me be clear - I understand that Obama’s plan does not claim to cover all 47 million uninsured (an inflated number itself). However, the plan will force some to switch from their private plan over to the public option. Meaning, the amount of people on the public option could amount to around 47 million whether that number comes from those previously uninsured or a combination with those forced to switch over. Let’s forget the incentive for illegals to flood in.

Here is the population of the United States: 307,558,557 million. Obama, some of his associates, and many supporters have stated they want a health plan such as Canada or Great Britain.

Canada’s population: 33,518,805   Great Britain: 61,132,895     Italy: 58,122,868    Australia: 21,292,001

All of these countries are miniscule in comparison to the U.S. When none of these systems reach half the population size why would we copy them? They are deteriorating. If we want to publicly insure 47 million people, and Australia cannot accomplish this with 21 million, Canada with 33.5 million, etc. what makes us think the results will not be similar if not more catastrophic? If everyone paid taxes in America the story may be different. If the top 5% of the U.S. was not responsible for paying 90% of income taxes the story may be different. Hell, we have tried this in the U.S. Massachusettes is paying for it now as their debts rapidly increase (thanks Mitt).

A public option does not economically work for U.S. citizens. Price fixing has never worked - just ask the Soviet Union, or NYC (housing). We are too massive of a country to cover with so few people paying into it.

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Tue Aug 11
Image via Drudgereport

Image via Drudgereport

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Sat Aug 8

Again, no class.

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Fri Aug 7

What Exactly Has Obama Been Doing?

We appear to be dealing with the biggest argument against Barack Obama - lack of experience. We are told to be in the worst recession since the Great Depression (although some falsely claiming we are climbing out), involved in two wars, and in midst of tension with several world dictators. We need a leader. But what is our president doing? Uhhh not sure: giving the same old campaign speeches, performing in town halls, sending out videos to foreign dictators, and drinking beer to bridge the racial gap. There is so much happening right now; I would like to see my president taking part in the process whether I agree or not.

The responsibility of the two largest/impacting bills in recent history is being placed in the hands of Batgirl and Robin (Nancy Pelosi and Harry Reid) and special interest groups - Cap and Trade and Health Care. Gore, Waxman, Markey, and the enviro-nut groups have taken control of Cap and Trade. They were the only ones to write it (the Apollo Alliance is said to have constructed it) and thus, the only ones to know what was involved seeing as there was no time to read it. Where was Obama in this process? Why were the details not revealed to the public as promised? It is the job of the congressmen to write legislation, but the president could at least articulate to the public or make the bill available as promised.

Obama has had several opportunities to explain Health Care, yet he cannot seem to be clear or descriptive whatsoever. His last speech on the subject was exactly as his first. I don’t think anyone really knows what is coming, obviously not our own president. However, it is put in the hands of Pelosi/Reid, special interest groups, liberal think tanks, blah blah blah Soros’ funds have to be running out.

Most disturbing is Obama’s running list of Czars. I have found up to 40 czars with more positions waiting to be filled. These unelected, power yielding officials manage everything from the bailouts to ‘safe schools’. I thought the cabinet members were the ones to take pressure off the Prez not his buddies. Fox News has revealed many of these people to be left-wing ideologues, including some eugenicists and communists

Even Bill Clinton got out there to return two journalists from North Korea. So I wonder - what has Obama been doing? I understand legislative process; the president does not make law, but holy crap, he can at least clarify his positions or show some leadership. His role as Commander-in-Chief should be somewhat confidential, I just hope he knows what he is doing with our troops. His polls are slipping because no one quite knows where he is heading. I talk to some of my liberal friends and they are even perplexed at his actions giving me the raised shoulders and eyebrows. Again, I ask you Family Guy, will you show Obama hiding in a tree-house? Whether you agreed or disagreed with Bush, at least you knew his plans as displayed by his leadership. Oh yeah, and ridiculing others in your own mess is not going to work anymore Obamalinski; start taking some responsibility and show some class.

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Thu Aug 6

Quick Question

I mean I try to watch Olbermann for as long as I possibly can. It’s kind of like a test to see how long I can go without breathing. Aside from the feats of strength one must endure to watch him, I started to notice something. WHAT NEWS DOES HE COMMENT OR REPORT ON? I find that 85% of his show is commentary on other commentators - mainly O’Reilly, Limbaugh, Hannity, Beck, and Dobbs. I understand any liberal will strongly disagree with these few alternative sources of news on TV (FoxNews, Dobbs, talk radio…. and South Park) but my God, at least these guys spend their shows reporting on stories… not on other talking heads.

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Tue Aug 4

Maximizing Your Money

What is a billion dollars? Trillion+ dollar deficits, $787 billion package, gigantic omnibus… the arduous list perseveres. But hey - guess what? We are not stopping anytime soon. The dominating Democrat government thrusts on to pass the two mother-of-all bills: Cap and Trade and universal health care.

The price tag on Cap and Trade is uncalcuable. Taxing means of production: fuel, affects all aspects of life. According to the CBO in a Wall Street Journal article, “price hikes from a 15% cut in emissions would cost the average household in the bottom-income quintile about 3.3% of its after-tax income every year. That’s about $680, not including the costs of reduced employment and output. The three middle quintiles would see their paychecks cut between $880 and $1,500, or 2.9% to 2.7% of income. The rich would pay 1.7%.”

The article also notes the effect the tax will take in regions of the U.S. that count on the manufacturing of fossil-fuels “particularly coal, which generates most power in the Midwest, Southern and Plains states.” What happened to Detroit when the auto-industry crashed?

HEALTH CARE. The CBO has priced this at around $1 trillion with other figures going up to $1.5 trillion. Who cares though? We’re only going to tax the rich - it’s not like they carry the federal and state income tax burdens. By the way, we already have federal programs providing health care to those in need. Medicare: for those 65 years and above, and Medicaid: for low-income families and individuals.

These two programs cover large classes of people and are on verge of bankruptcy in the very near future. HOW COULD A NEW GOVERNMENT HEALTH CARE PROGRAM COVERING EVERYONE NOT GO BANKRUPT EARLIER? This thinking is absurd.

With each new gigantic program proposal from the government comes several ‘tiny’ ones. Focus on grandiose packages hides the scattered pork programs worth mere millions (ha, I clean my bathroom with a million dollars). The government is maximizing your money by making it worthless and meaningless. For example, they are asking for a $2 billion extension to the Cash for Clunkers. Eh what’s $2 billion? Check recovery.gov to find the recent pork running through.

With negotiations regarding trillions of dollars we can lose sight of the worth of a dollar. $1 million is still an impactual amount. Giving up on the small battles to combat the larger wars is dangerous. Every proposal and program needs to be purposeful and efficient to ‘the people’, not the politician.

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Mon Aug 3
President Barack Obama’s treasury secretary said Sunday he cannot rule out higher taxes to help tame an exploding budget deficit, and his chief economic adviser would not dismiss raising them on middle-class Americans as part of a health care overhaul. Via Yahoo!. Oh Timbo, it’s amazing you still have a job.
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