The Real Lesson From The British Double Dip Recession

UK flag SC The Real Lesson From The British Double Dip Recession

Economists and pundits alike are going wild over the United Kingdom’s recent “double dip” recession. The 2008-09 recession prompted the election of a conservative coalition led by Prime Minister David Cameron. Cameron decided the best path for economic recovery was “austerity,” a program of reduced government spending and smaller government debt. The new coalition—with the aid of Chancellor of the Exchequer George Osborne—sought to drastically slash the government budget. With the addition of increased taxes, the plan was dubbed “Tax and Axe.”

Two years later, the United Kingdom is back in recession. Keynesian economists are enjoying a savory “I told you so” moment, as many pointed out the dangers of austerity during troubled times. The logic runs as follows: when businesses, households, and governments all try to pay back their debts at the same time, they spend less. As they spend less, national income falls, leading to even less spending. This sets off a cycle of decreased spending and economic collapse.

The Keynesian solution is government spending. It goes like this: Governments can increase spending during recessions to keep national income up, preventing the spending collapse. In short, more stimulus is the answer.

In turn, many progressives in the United States are arguing that any similar austerity here (such as Congressman Paul Ryan’s budget plan) would have equally bad results: another recession.

Unfortunately, this reasoning is based on a faulty premise. Here is the reality: There is no austerity in the United Kingdom.

Quite the contrary, government spending in Britain has increased in the last two years, and will continue for the foreseeable future. In real terms (based on estimated inflation and GDP growth), spending was set to decrease this fiscal year. Unfortunately, this prediction was made on the assumption of positive yet small GDP growth. As we now know, this assumption was bad and GDP shrank, heralding a recession.

Public debt in the United Kingdom continues to rise. The 2012 budget clearly outlines increases in public debt all the way until 2016 (when the predictions stop). To top it all off, these numbers exclude the 2008-09 emergency financial interventions. The financial sector in the United Kingdom took a hit in the previous recession and was promptly bailed out in 2009. Since then, the government has borrowed an additional 124 billion pounds to keep banks afloat.

Furthermore, some British think tanks estimate that only around 6 percent of Cameron’s cuts have been implemented, with the remaining 94 percent still waiting to actually be cut by 2016-17. Is this “austerity” (itself a loaded term) in any sense of the word? Suppose you were driving towards a cliff. Is it enough to ease off the gas pedal, or do you need to hit the brakes?

Economists such as Paul Krugman are already branding Europe’s approach a failure. In many ways, it is. But what is really at stake is the real reason things are failing. We cannot allow history to think that the United Kingdom tried austerity. It is simply not true. If we interpret this wrong, we will get the wrong historical lessons.

In fact, something similar happened during the onset of the Great Depression. Herbert Hoover was in office when panic struck and the history books claim he tried free-market principles, which failed. In the first year of the depression, 1931, federal expenditures rose from $4.2 billion to $5.5 billion. The federal government incurred a $2.2-billion deficit the same year. In 1932, Hoover raised taxes.

Sound familiar? Despite the fact that President Hoover increased government spending and debt, his approach was labeled “free market.” The exact opposite is true. When running against Franklin Roosevelt, Hoover actually argued that Roosevelt would make things worse by lowering taxes and decreasing spending. Roosevelt responded by accusing Hoover’s administration of being a profligate spender.

The same classification error is happening again today. The United Kingdom has raised taxes, increased government spending, and taken on more debt. This is the exact opposite of the clear meaning of austerity. What sort of Orwellian doublespeak is being used when “free market” means more government?

Of course, the situation in the United Kingdom is not identical to the United States. Exact comparisons and examples do not translate. One thing we do know, however, is that the British have not attempted to rein in out-of-control government spending. Like many governments, Britain scheduled cuts years into the future and continue to pile on debt. Before we even consider the failure of austerity in England, we must first be convinced austerity has really happened.

Kyle Latham is a contributor to The Center for Vision & Values and a May 2012 graduate of Grove City College who will be pursuing a graduate degree in economics. He is a winner of the Atlas Economic Research Foundation’s 2010 Sound Money Contest with his paper on “Concerns for the Utilitarian and Ethical Characteristics of Money.”

Photo credit: twicepix (Creative Commons)

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Phony Student Loan Issue Obscures Real Fight Over Spending

Dollar Bills SC Phony Student Loan Issue Obscures Real Fight Over Spending

The interest rate on federal Stafford Loans is a phony political issue. The 6.8 percent interest rate was slashed — at taxpayer expense — to 3.4 percent last year. Now Obama and Democrats in Congress are acting as if the rate returning to its usual level is an economic catastrophe for students. It isn’t. We’re talking about a difference of $6 per month on new loans. Existing loans are unaffected. The student debt problem is real, but the Stafford Loan interest rate issue is not.

Yet the legislation proposed in Congress to address this non-issue is still hugely consequential because the Republican version would end a particularly destructive big government spending program, and the Democratic alternative would raise taxes on small businesses. It’s a fight that epitomizes the choice voters will face when they head to the polls this fall.

The House has already passed legislation, H R 4628, that extends the current Stafford Loan interest rate for another year, averting that $6 per month disaster that Obama has been focusing on out on the stump. The bill also does something much more significant; it repeals the so-called Prevention Fund, a multi-billion-dollar slush fund created by Obama’s stimulus bill and then expanded and funded even more lavishly — and automatically, without annual appropriations—by the president’s health care law.

The Prevention Fund is the most egregious type of federal spending because it uses our federal tax dollars to raise our taxes and limit our freedoms at the state and local levels. Specifically, it provides taxpayer-funded grants for television advertising, lobbying campaigns, and other activities aimed at raising taxes on soft drinks; imposing zoning restrictions on fast food restaurants; imposing smoking bans; and other such nanny-state favorites.

In Philadelphia, the city spent millions of federal taxpayer dollars on advertising to promote a tax hike on soft drinks. The tax was defeated by a remarkable coalition of tea party and union activists, but Mayor Nutter has vowed to continue to pursue it. And why not, with federal taxpayers picking up the tab?

In California, federal taxpayers paid for an effort that resulted in a ban on fast food restaurants in West Adams-Baldwin Hills-Lemert, South Los Angeles, and Southeast Los Angeles. That’s right; a state with 11 percent unemployment is using taxpayer dollars to intentionally prevent restaurants from opening that could employ thousands.

In New York, Mayor Bloomberg — enemy of trans fats, sugar, salt, and pretty much anything else that tastes good — is now tapping into federal Prevention Fund tax dollars for flashy advertising attacking the soft drink industry and urging customers to “drink water, fat-free milk, seltzer, or unsweetened tea instead.”

There’s also outright waste, like in Nashville, where Prevention Fund dollars are going to spay and neuter pets. That improves public health because, the reasoning goes, people will exercise more if they are no longer cowering in their homes, afraid of stray dogs and cats.

Contrast ending this outrageous use of taxpayer dollars with what’s in Harry Reid’s version of the Stafford Loan legislation: a tax hike on small businesses.

Harry Reid’s bill, S. 2343, contains language identical to the House-passed bill extending the 3.4 percent rate on Stafford Loans for one more year. But it leaves the Prevention Fund intact, while attaching a $9 billion tax hike on the business income of S-corporations and partnerships by applying a self-employment tax if the owners of those businesses are also employees. This is despite the fact that there are already IRS rules to ensure those individuals are already paying themselves fair market wages, which are subject to payroll taxes. It’s bad tax policy and it would set a terrible precedent. Meanwhile Reid, intent on protecting the Prevention Fund and keeping the phony interest rate issue alive, is refusing to vote on the House bill — even though the Senate rejected his own version last week.

This battle is now over whether we should hike taxes on small businesses (in the middle of a recession) or cut irresponsible, wasteful spending. That’s a fight worth having, even if the $6 per month that started it is inconsequential.

Mr. Kerpen is the president of American Commitment and the author of “Democracy Denied.” Kerpen can be reached at phil@americancommitment.org.

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Exclusive: The Enigma That Is Barack Hussein Obama, Part Three 2009 Conclusion

Obama Autograph SC 199x300 Exclusive: The Enigma That Is Barack Hussein Obama, Part Three 2009 Conclusion

Photo credit: Barack Obama (Creative Commons)

Slightly after or concurrent to the Stimulus initiative in late February or early March of 2009 of our timeline was the Auto Bailouts.  During the discussions with Congress and GM & Chrysler, numerous irregularities were noted the most egregious was during Steve Rattner’s appointment as Auto Czar.  He personally forced the placement of bondholders subordinate to the United Auto Workers (UAW) during the pending Bankruptcy proceedings even though the UAW did not have any claim on any assets of GM.

The Bondholders are considered “secured creditors” in the legal process and held a first payout provision in bankruptcy law after vendors as creditors.

When all is said and done the UAW ended up with a huge stake in GM, which is in deference to federal antitrust laws. Chrysler faired better as they had an outside Suitor, FIAT purchased their assets, although the UAW ended up with a 55% stake in Chrysler.  The GM bondholders only ended up with 29 cents on the dollar, even though they were secured creditors, which shows the coercion Obama and his henchmen will go to protect their union allies.

Another nexus in this sad and tired refrain equal to a Greek tragedy on human frailty we have the inexplicable actions of Eric Holder and the DOJ dropping charges against the New Black Panther Party for voter intimidation committed during the elections in 2008.  DOJ had a default finding and Judgment by the Court and only needed to complete the case to bring justice for the flagrant intimidation of voters outside a polling station in Philadelphia.

This action by the DOJ was also met with internal resistance with numerous long time attorneys resigning in protest.

We also have the remarks made by Holder that he would see to it that minorities would be treated differently now that he was Attorney General. He is also called our Nation a “Nation of Cowards” in a remark in February 2009 during Black History Month on civil rights and racial matters.  What else can we expect from Barry and company?

In June of 2009, we have the disputed election results in Iran where the people of this Nation rose up to protest the presidential election of Ajad and their oppressive government of Shiite Muslims.  Shiites believe in the succession of the Twelve Imams and that the Sunni majority are illegitimate in their following the teachings of Muhammad, they are simply a more radical form of Islam.

Their sect of Islam is only practiced by 20% of Muslims worldwide.

They refer to our Nation as the “Great Satan” and continually advocate the destruction of our Republic.  Barry being the ardent defender of freedom and democracy for our nation did not lift one finger or make any statements to assist the People of Iran that were willing to throw off the shackles of oppression from their Muslim theocracy.  Barry and the State Department simply sat on their hands, folded as if cheap lawn chairs, and refused to discuss the matter with a troubled world or this nation’s people.

We have heard the rumors and statements from Barry and others regarding his Muslim roots and leave all of us to wonder, is he a Shiite?  This is in contrast to Barry’s immediate response to the Arab Spring in the Sunni world of Islam was swift and deliberate which leads me to believe that he is indeed a Shiite.  Barry’s foreign policy has been to let them continue their efforts to produce nuclear weapons, they have already shown their capability in the delivery system(s) with short and medium range tactical missiles, are ICBM‘s far behind?  His support of lackluster sanctions has been blatantly ineffectual and leads me to believe he is tacitly supporting their efforts to become a nuclear power.

June was another busy month for Barry and Holder as they are now reading “Miranda Rights” to illegal combatants (terrorists) captured on foreign soil.  This naive gesture can only hurt our war effort and endanger the lives of our brave men & women who serve on the front lines in the war on terror.  The question must be asked why Barry through the DOJ would go to these extraordinary means to accord jihadists constitutional rights?

For well over a century, the Geneva Convention has codified the waging of war and treatment of enemy combatants among the worlds nations that are signatories to this treaty.  Anyone caught in the act of belligerence on a battlefield must comport to certain qualifications under this international agreement to receive the protections that are required under this agreement.  Captured terrorists have not met these criteria and are declared illegal combatants why Barry and the DOJ wish to accord them the extraordinary windfall of Constitutional rights is baffling and unsettling as it may have complications in any future war(s).

The next occurrence is almost too strange to contemplate and occurred in July of 2009 and was an off hand remark by Barry on how Police were “acting stupidly” about the arrest by Sgt. James Crowley of the Cambridge Massachusetts PD who arrested professor Henry Louis Gates Jr. an alleged friend of Barry.

The facts of the case were bizarre to say the least and ended with a “Beer Summit” between Barry, Biden, Professor Gates and Sgt. Crowley.  It was a telling and defining moment  for Barry marching out to the Rose Garden leaving Sgt. Crowley and Professor Gates far behind.  Prudence dictates that I leave it up to each of you to judge the matter for yourself, however a picture is worth a thousand words please see for yourself how George Bush conducted himself in such matters, GWB is pictured at the end of the article!

As we slide, further down this slippery slope that we have come to know as Barry and his entourage comes in September of 2009 where we come face to face with Van Jones Barry’s Green Jobs Czar.  Valerie Jarrett another long time advisor to Barry waxes poetically about Mr. Jones after he was announced to fill this Czar’s role and if memory serves “we have had our eye on him for quite a while“ the “we“ is telling and implies others had a hand in his appointment.

While Valerie and Barry were singing his praises, Glenn Beck did the Nation a great service, checked into the background of this latest darling of theirs, and found that this man was a self-avowed and shameless Communist that advocated the violent overthrow of our Government.  The Paparazzi after going to bed on a Friday night when the presses are silent and most of Washington has retired for the weekend quietly announced the resignation of none other than Mr. Van Jones.  The real question that needs to be answered is how did this man ever get past a security background check and receive security clearance to work in the White House?

Before we are finished with 2009 we need to look at two other issues that will round out the picture of our first tapestry, the first is comments made by Anita Dunn as the interim White House Communications Director in a Speech to High School Students in June of 2009.  Wherein she states that, she admires the Philosophy of Mao Tse Sung as a “primary source of inspiration.”

(Note: Mao is personally responsible for the destruction of at least 40 million upwards of 80 million oxygen absorbing and carbon dioxide expelling biological units, we know them more commonly as humans!)

I used the previous description to break down the nature of these leftist, Statist, Marxists that infest the environs of power in the White House and Washington with this ludicrous description of humans is in keeping with lefts belief that some humans are more valuable than others are.  As they are, constantly advocating policies that are in stark contrast to Christian values and our founding principles to curtail our progress, economy and population with their rabid belief in abortion (infanticide) as just one example and their destructive economic policies as another.

To finish 2009 as we progress along this timeline we are faced with what appears to be stark evidence that the White House Christmas Tree was adorned with a Mao Tse Sung ornament, this of course seems trivial when compared against the size of the tree that adorns this ornament. This should leave one to ponder that statements made by Barry and his associates and assistants is contrary to just what they appear to be!  Many if not all of them must be supporters of Socialist, Marxist agendas and beliefs; their protesting otherwise has nothing but a Hollow Ring of hypocrisy and obfuscation.

Barry cannot hide from these facts as if Van Jones was an anomaly of poor judgment, and Anita Dunn with her admiration of Mao statements must be included in the ’we” statement of Valerie Jarrett if not Barry himself.  Nor does it dispel any myths to the contrary of their true political beliefs and ideological spectrum of socialist origins as their core beliefs and ideology.

Conclusions for the Election to 2009

We were first introduced to Barry as a starving college student that was traveling and lodging in places he could ill afford by his own description.  We are then shown that the Russian Government thought Barry to be a British spy while on an official visit, what follows next is when Barry is indifferent to our National Anthem and Pledge of Allegiance.  His Certificate of Live Birth discussion and the sequestering of his bon-fides follow this, though he has proven himself ineligible to hold the presidency.   He is forever shaped by his refusal to share these important documents with a puzzled nation and augments the fait-accompli of his ascent to power.  Followed by the inexplicable death by a thousand paper cuts on the tampering of Supreme Court cases for Minor v. Happersett prior to the Election in 2008 by person(s) unknown.

When the decision is reached to send the Churchill bust back to Britain only reinforces the other nexus points about Britain through his Fathers citizenship and the Russians holding him as a British spy.  Next up is the callous treatment of the Families that lost loved ones on the USS Cole and we only shake our heads and wonder what he really meant to accomplish  We have Barry being constantly on the nations airwaves with his pronouncements for the stimulus and our dire economic straits.

We are then shown the derision of the Tea Party movement and his intolerance for opposing viewpoints.  Then we have the bankruptcies of GM & Chrysler where Barry coerced the GM Bond holders to relinquish their secured position and received only 29 cents on the dollar.  We are then shown that Justice is not equal by Barry and his cohort Holder with dropping charges against the New Black Panthers Party for Voter Intimidation after already winning the case with a default conviction.

In June of 2009 we have Barry sitting on his hands while the people of Iran are being murdered in the streets without even one word being spoken on their behalf, the silence was deafening.  In July, we have the laughable Beer Summit, which was just a media cover for Barry’s callous and wanton premature remarks on race relations before knowing any relevant facts.  This path becomes a quagmire when Barry decides to accord constitutional rights to terrorists whom are illegal combatants as defined by the Geneva Convention and have limited rights under International Law.

We are then shown Van Jones to be an avowed Communist and the apple of Barry and his Staff’s eye as an avowed communist that advocated the violent overthrow of our form of Government.

We are then introduced to another Marxist Anita Dunn the White House Communications Director and her favorite philosopher Mao Tse Sung.  Then we close the year with celebration of Christmas with a Mao Tse Sung ornament gracing the White House Christmas Tree, no doubt being placed in a position of great Honor.  This tapestry is frenetic and disjointed though a central theme connects all the threads that Barry is a Man with something to hide. What is he hiding is still unknown; however, there is a confluence of actions that we have never seen in a president that is destructive to our very way of life and our constitutional founding on self-rule and the rule of law.

The nation cannot stand another four years of this assault on our freedom and way of life and wholesale lawlessness and the assault on the rule of law that Barry has brought to the table.  It is imperative that he be shown the door in November, if we are to continue as a Constitutional Republic.

Part One
Part Two

 

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Exclusive: The Enigma That Is Barack Hussein Obama, Part Two

Barack Obama speech 4 SC Exclusive: The Enigma That Is Barack Hussein Obama, Part Two

Next up in our investigation is the run-up to the election after clinching the Democrats’ Nominee as their candidate for president.  Barry has sequestered and locked away all of his personal records in some safe dark place where they will never again be shown the light of day.

These records include his “certificate of live birth” (he released a forgery), his college transcripts, Harvard thesis, student loans, Harvard law review articles, passport, medical records, Illinois Senate records, community organizer activity with ACORN, and others.  His Illinois bar registration, social security no. (he uses one originating in Connecticut) from a place he never lived, and most any other documents of a personal or professional nature could be construed as his bona fides.  His army of lawyers from the Perkins Coie law firm of Seattle, Washington are his henchman to make sure that each and every challenge to his narrative is immediately quelled.  So much for the most “open and transparent” administration in history, which was only rhetoric as we have seen with his dismal performance in office.

This is beginning to make sense when all the facts leading up to this are considered; clearly, he is hiding something, and all these actions appear preemptive in nature as a possible legal defense for something as of yet undisclosed.

This tapestries’ warp and weft threads are beginning to appear skewed to the “left“, way to the left if not a tangled mess; he has not even been elected to the office of President and is now completely shadowed and encased in several mysteries.

A perfect Manchurian candidate if there ever was one.

An honorable mention that had not made the “list” has to be made in passing as it will have significance later on: the announcement that Gitmo would be closed in a years time, which was his first Executive Order after being sworn in as President.  Almost four years later it is still open for business.  I am partial to using Latin phrases for their descriptive quality, res ipsa loquitor, “it speaks for itself“; enough said, moving along!

Our next anomaly occurs in February of 2009 when Barry sends the Bust of Churchill back to Britain that had loaned the Bust to America during George W. Bush’s first term in the Oval Office after 9/11 as a showing of solidarity with the American people; what follows is a poignant description from a British newspaper The Telegraph:

The bronze by Sir Jacob Epstein, worth hundreds of thousands of pounds if it were ever sold on the open market, enjoyed pride of place in the Oval Offic during President Bush’s tenure.

The official word is that Barry chose not to extend the “loan” and returned it to the British Ambassadors’ residence in Washington.  We have another curious nexus with Britain as Barry’s father was a British subject, and the Russians accused him of being a spy for them in Siberia during his first official visit on becoming a Senator.

Is there any animosity towards Britain on Barry’s part? We may never know.  It sure looks like it.  Should we even mention that he could claim dual citizenship with Britain as he casually mentioned in late 2008 on “fightthesmears.com.”  There goes the constitutionally required claim to “natural born citizen” status that Barry claims to possess; who cares as he is above such trivial requirements as the rest of us mere mortals?

As we move down the path that is all things Obama, we have a supreme act of callousness; without much fanfare, the DOJ drops charges against Abd al Rahim al Nashiri in February 2009.  He was the mastermind behind the bombing of the USS Cole in Yemen’s port of Aden in 2000.  Eric Holder and his band of angelic attorneys in the DOJ revealed that he had been allegedly tortured while in CIA custody under GWB, and Obama‘s nebulous Executive Order on torture caused them to drop the charges.  All this special treatment for Rahim because of his treatment at the hands of the CIA, and the dead are stacked up like cord wood with Fast & Furious, absolutely of no consequence to Barry or Holder.  This only reinforces Stalin’s perspective as emulated by these modern practitioners of his heinous brutality: “The death of one man is a tragedy. The death of millions is a statistic.”

February is a busy month for Barry and company; after all of this, Rahim was subsequently charged before a Military Tribunal (a scourge Barry has tried to eliminate) at Gitmo that carries the same death penalty.  Politics is a strange mistress and bedfellow with Obama, and company as form and appearance trumps substance every time!

Why were these first charges dropped; was it done to only cause as much undue stress, pain, and hardship to the families of the 17 victims that lost their lives (and the Nation at large)? It ends up being “much ado about nothing,” to quote Shakespeare, except to discredit George W. Bush one more time, always a crowd pleaser to Obama and his merry band of sycophants on the left. A story on MSNBC about this debacle sends home the message by the retired Commander of the U.S.S Cole:

“I was certainly disappointed with the decision to delay the military commissions     process,” Lippold, now a defense adviser to Military Families United, said in an     interview Thursday night. “We have already waited eight years. Justice delayed is     justice denied. We must allow the military commission process to go forward.”

All Barry had to do was allow the Tribunal to continue, which would not have caused any harm to the accused or the federal government in this matter (or anyone for that matter.) Once again, Obama seems incapable of filling the shoes of GWB, and it seems well beyond the capabilities of poor little Barry of having any compassion for the victims of this heinous crime. His sympathies lie with Muslim terrorists and not American citizens.

We are still in February as we stroll down the path of this sentimental journey where Barry and the 111th Congress turned their laser like focus to the economy.  Which, of course, he begrudgingly inherited from George W. Bush, and he let us know this at every turn that it was anyone‘s fault but his.  Barry foisted the responsibility for drafting a perverse piece of legislation on the House and Senate leadership of that famous comedy team of Pelosi & Reid, so that he could always use plausible denial if it all went south, a paper tiger if there ever was one.

They dredged up all the failed initiatives of the Democrats for the last thirty years and stuffed them into one gigantic Bill they called “Stimulus”, with a cost of one trillion dollars when all waste and bureaucracy is laid at the feet of the American taxpayer.  Fox News had a rather sober perspective on this act of treachery by the Democrats:

The House approved the measure earlier in the day by a vote of 246-183, with no Republican “yes” votes and one member voting present.

The stated intent for the “stimulus” was to provide for “shovel ready projects” to put Americans back to work quickly repairing or replacing much of our nation’s infrastructure.  We were also told that unemployment would never go above 8% in this monstrosity of a 1073 page bill, which was the start of the trend of legislation too large to read before passage in the Democrat-controlled Congress.  The official current rate of unemployment is fluctuating around 8.5% with the true rate somewhere between 18% and 22%.  This includes all those that have quit searching for jobs in this train wreck of an economy.

(Note: here is a previous article on how Barry and company are hiding the facts about our economy from the American people.)

Minority unemployment is even worse.  Which is in no small way due to the Democrats’ misguided initiatives to starve and smother the powerhouse that is our economy with their crazy Keynesian economic voodoo.

We need to take a moment and recognize that only 50% of our citizens are set to the yoke of this burden and bear the brunt of actually paying taxes to the federal government.  The rest either pay no “taxes” or receive back more than they paid with credits and other tax rebate schemes, federal reimbursements, and benefit programs.  This is just another of the Democrats’ “fair share” tax policies and heartily supported by Barry, who wants even more taxes on these taxpayers, all in the name of “fairness.

However, during the legislative process for this nightmare, we had Barry constantly on the news feeds and channels predicting dire consequences if the “stimulus bill” was not passed, which had the desired effect of destruction of wealth as the stock market continued to plunge after each new pronouncement.

(Note: this was only the start for Barry as he is on track to add $6 trillion to the national debt in only four years at a rate that is 6 times greater than the deficits that Bush ran up in eight years.  Bush only averaged $250 billion per year, Barry $1.25 trillion.)

All of this hyperbole and constant news-churning by Barry actually caused one woman to discard her television set and capture the national news attention; this was a story all to itself.  Think of it as Barry‘s contribution to class warfare and the destruction of the evil wealthy and rich in this nation (thanks, Barry), factor in Barry’s and the Democrats‘ support of OWS, and it should cause all of us to stop and ponder the consequences.

We cannot continue this discussion on who and what our dear leader Barry is without an introduction to the “Tea Party” (TEA is an acronym for “taxed enough already”), a grass roots movement of dissatisfied citizens on the course that the nation has taken.  Pelosi quipped they are nothing but “Astro Turf” when she was the Speaker of the House, and they promptly ended her tenure!  This movement was born out of a rant by CNBC analyst Rick Santelli of the Chicago Mercantile Exchange about Barry’s initiative to pay for the refinance of mortgages for people that were underwater and facing foreclosure.

It was dubbed the “rant heard round the world” and was aired on February 19, 2009.

Those that know our history will recognize that it is an updated version of “the shot heard round the world” at Concord Massachusetts in 1776 at the start of our war of independence from Britain and the tyranny of King George.  Today, we face a different kind of war, one against our founding principals led by Barry and his supporters who are socialists, progressives, marxists, Democrats, and liberals. These are an alphabet soup of malcontents all bent on destroying our American way of life, although it is tyranny nonetheless.

Barry could not help himself, and he waded into this controversy as a significant portion of the population refused to worship him, so he gestured a wave and used the term “waving their tea bags.”  This expression has become a derogatory expression of this movement by the left, and they call these people “Tea Baggers” by the OWS and other media mavens, correspondents, talking heads, liberal pundits, and bloggers as they try to discredit this movement.

It has since been expanded to be defined as a movement of racist and ungrateful bigoted citizens by the media horde, not very different from the derogatory “birther“ term they use to discredit anyone that does not believe in the nativity of Barry either.  The media and Obama supporters use ridicule instead of actually meeting these issues head-on, and this is another indication that we are fast becoming a nation that has abandoned the rule of law for the din of the current crowd in Washington, which trumps reason and law at every turn.

On a personal note, I end this part with an observation: when did dissent of our Government and their policies became unpatriotic and subject the nation to ridicule when we disagree with our President, Congress or with any political initiative?  This is what has led to Barry and his capitalist cronies and minions being dubbed a regime, (“mea culpa,” again another Latin phrase for “my mistake” or “my fault,; look in your own backyard first, Barry, before tarring the American people with your tainted and foul brush!

The term “political correctness” was coined during the Clinton years as a means to stifle opposing viewpoints and speech and further exploited and exacerbated now that Barry is in office with the media honing to it as an art form to discredit and quiet legitimate debate.

Part Three will conclude this portion of the investigation and closes 2009 with the revelation of numerous communists in Barry’s White House and the fascist takeover of several industries along with the cruel treatment of the people of Iran that sought freedom from their Muslim oppressors.

Part One

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Highlights Of House GOP Budget Cuts

John Boehner 2 SC 300x249 Highlights Of House GOP Budget Cuts

Highlights of House GOP legislation cutting spending by more than $300 billion over the coming decade.

Food Stamps — Cuts $35.8 billion by eliminating benefit increases in President Barack Obama’s economic stimulus and tightening eligibility requirements. Cuts spending by 4 percent over coming decade.

Health Care — Cuts the president’s overhaul law in several ways, saving $66 billion. Cuts include requiring those receiving health insurance subsidies to repay excess subsidies when their income increases, eliminating grants to states to set up health insurance exchanges and repealing a fund for prevention efforts like cancer screenings and immunizations.

Financial Regulation — Repeals several elements of the 2010 Dodd-Frank law to save $30 billion, including $22.5 billion saved by repealing federal liquidation authority of “too big to fail” banks and other financial institutions, financed by assessments on other large institutions. Also eliminates funding for a new consumer protection bureau and a new mortgage assistance program aimed at helping people modify their home loans.

Federal Employee Pensions — Cuts deficits by $83 billion over 10 years, requiring federal workers to contribute more toward their pensions in increments phased in over five years. Workers hired after 1983 would contribute an additional 5 percent for a total contribution of 5.8 percent. Workers in the pre-1983 system — who are ineligible for Social Security — would also pay an additional 5 percent for a total contribution of 12 percent.

Read More at OfficialWire. AP.

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