Category Archives: Debt

Peggy Noonan’s Looking For Mr. Big (In All The Wrong Places)

Conservatism, Debt, Elections, Republicans, Taxation, The State, War, Welfare

From the current column, “Peggy Noonan Is Looking For Mr. Big” (In All The Wrong Places), now on RT:

“Like those annoying pop-up ads on the Internet do, a mental image matching the reading material kept intruding into my thoughts, as I slogged through the Peggy Noonan column everyone is discussing.

The image: An over-sized, acromegalic baby, jaws slapping, going, “Ga, ga, ga.”

The column is “Time for an Intervention.” To better jibe with Noonan’s infantile prose and purpose, the thing should have been titled, “Noonan To Mitt: ‘You Naughty Little Boy.'”

Its subject: Mitt Romney’s so-called mic malfunction. In a stream-of-consciousness ramble, Peggy registers her displeasure with Romney’s unvarnished assessment of a large portion of the Democratic Party’s constituency.

The operative word in Peggy’s baby-talk: Big. Baby wants lots of big things. And now.

While liberty requires a leader small and insignificant—one who lets the individual live free—Peggy wants a “big and wise” presence in her life. And in everyone else’s.

Subconsciously, no doubt, Peggy presses her points by galvanizing the style of the black southern preacher—except that the preacher, contra the courtesan to politicians, does not mistake the Republican anointed one with a Higher Power.

Romney’s realism is not how “big leaders talk” to “a big nation,” whimpers Peggy, who suggests that we discuss a “big issue”—one that has long since been settled, if I am not mistaken.

As proof that the matter in Big Government V. Small Government has been decided, I offer exhibit No. 1: 16 trillion gigabucks worth of debt. …”

The complete column is, “Peggy Noonan Is Looking For Mr. Big” (In All The Wrong Places), now on RT.

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UPDATED: The 5.4 Trillion Dollar Man (About Those 4.5 Million Jobs He Created)

Barack Obama, Debt, Democrats, Economy

Between January 20, 2009 and September 3, 2012, the national debt increased by $5.4 trillion.

A comment from a clueless reporter at the Weekly Standard:“This is the first time in American history debt has eclipsed the $16 trillion mark.”

That’s a redundancy. The debt, in general, has been going up continuously for decades, not up and down, although it might have dipped at some point in the past.

So when BHO claims that he cut a few thousand dollars off the tax bills of middle class “ingrates,” the latter should factor in the “unseen.” “The debt has increased by $45,848 per household—or about 50 percent per household,” under Obama.

$136,260 for every household in the country, that is if every household were held liable for government debt. It isn’t.

Just as it carried Bush, the minority that pays the lion share of the taxes will shoulder the burden of Barack.

UPDATE (Sept. 5): “CNN Fact Check: About those 4.5 million jobs …”:

“…overall, there are still fewer people working now than when Obama took office at the height of the recession,” concede the ObamaHeads at CNN.

Anyone watching the Democratic National Convention on Tuesday night heard the number 4.5 million several times.
“Despite incredible odds and united Republican opposition, our president took action, and now we’ve seen 4.5 million new jobs,” San Antonio Mayor Julian Castro, the party’s keynote speaker, said.
Chicago Mayor Rahm Emanuel, who served as President Barack Obama’s chief of staff, and Massachusetts Gov. Deval Patrick, who followed Obama’s November rival Mitt Romney as governor of Massachusetts, both cited the same number.
It’s a big-sounding number, given the still-sputtering job market. So we’re giving it a close eyeballing.
The facts:
The number Castro cites is an accurate description of the growth of private-sector jobs since January 2010, when the long, steep slide in employment finally hit bottom. But while a total of 4.5 million jobs sounds great, it’s not the whole picture.

MORE.

UPDATED: Cui Bono QE4? (The ‘Tools’ @ The Fed)

Debt, Economy, Federal Reserve Bank

The title roughly translated: For whose benefit, Quantitative Easing # 4?

Incessant babbler Erin Burnett, host of CNN’s “Outfront,” is as thick as a brick. She directs the conversation concerning Ben Bernanke’s easy money monetary policies to whether history will prove Big Ben right; to outcome-based morality; to pure utilitarianism.

Burnett begins with the assumption that “Ben Bernanke’s Fed has injected [a mere] $2.3 trillion into our economy.” Actually, “$7.77 Trillion: That’s the amount of money the central bank, chaired by Ben S. Bernanke, ‘parceled out’ during ‘the bailout to America’s ‘Big Six,’ which, surely, also served to inflate the money supply by “inflating” America’s fascistic banking system.

Babbles Burnett:

…that $2.3 trillion has worked and he said this is why. It has created two million private sector jobs. Those jobs created as a direct result of his easy money. Well, that’s pretty interesting because that’s an interesting link between jobs and how much he spent because that is not a cheap cost per job. In fact, it is more than a cool million dollars per job, $1.2 million to be exact. So let’s just repeat that because it did take a second to digest it. That’s $1.2 million per job. So for those who are keeping track, we are not counting the president’s extra two trillion or so dollars in stimulus in that money, just the Fed’s money divided by the number of jobs. … History, though, may prove Ben Bernanke is completely right.

All STEPHEN MOORE of the WAR STREET JOURNAL managed to muster in reply:

I’m not so sure that’s such a good bargain. I’m not so sure. I’m not as rosy as you are about his performance, Ben Bernanke and the Fed’s performance. …

Is that an argument?

UPDATE (9/1): THE TOOLS @ THE FED. From National Journal’s economics desk comes the same nonchalance about the “tools” at the Fed’s disposal. Like the blabbering Burnett, the correspondent has not been put on earth to question the ethicacy of interest-rate manipulation and quantitative easing. She does, at least, provide some useful definitions of … the TOOLS:

With short-term interest rates at or near zero, the Fed has turned to unconventional means, such as purchases of government debt securities known as “quantitative easing” or QE. Many economists think the Fed could well undertake a third round of bond buying—QE3—by the end of the year. Some see a possibility of action at the next Fed meeting, but other economists say the Fed might be more likely to wait.

UPDATED: “435 Ron Pauls in Congress”: If Only (The Huckster)

Debt, Elections, John McCain, Liberty, Ron Paul, Uncategorized, War

Ron Paul: “You have to be like Santa Claus and give them something; I want to give them their freedom back.”

“Ron Paul changed the conversation. Ron Paul was right. If we had 435 Ron Pauls in Congress, we would not have a national debt of $16 trillion.”

These, above, are excerpts from the 2012, RNC tribute to Congressman Paul.

The ghoul McMussolini is speaking now. He is calling for perpetual war under the guise of nation building and democratization, and for war in the cause of democracy as the obligation and hallmark of American greatness and justness.

Turn the sound off and on, off and on. You won’t miss a beat, as McCain beats the tom-tom for war, war, and more war.

What a crazed creep.

Rand Paul preceded McMussolini. Here is the text of his speech, courtesy of the Washington Post. Have at it on Facebook:

RNC 2012: Rand Paul delivers speech to GOP convention (Full Text)
Wednesday, August 29, 4:32 PM

Sen. Rand Paul’s (R-Ky.) remarks to the Republican National Convention on Aug. 29 in Tampa, Fla. , as prepared for delivery.

“When the Supreme Court upheld Obamacare, the first words out of my mouth were: I still think it is unconstitutional!

The leftwing blogs were merciless. Even my wife said — can’t you please count to ten before you speak?

So, I’ve had time now to count to ten and, you know what — I still think it’s unconstitutional!

Do you think Justice Scalia and Justice Thomas have changed their minds?

I think if James Madison, himself — the father of the Constitution — were here today he would agree with me: the whole damn thing is still unconstitutional!

This debate is not new and it’s not over. Hamilton and Madison fought from the beginning about how government would be limited by the enumerated powers.

Madison was unequivocal. The powers of the federal government are few and defined. The power to tax and spend is restricted by the enumerated powers.

So, how do we fix this travesty of justice? There’s only one option left.

We have to have — a new President!

When I heard the current President say, “You didn’t build that,” I was first insulted, then I was angered, then I was saddened that anyone in our country, much less the President of the United States, believes that roads create business success and not the other way around.

Anyone who so fundamentally misunderstands American greatness is uniquely unqualified to lead this great nation.

The great and abiding lesson of American history, particularly the Cold War, is that the engine of capitalism — the individual — is mightier than any collective.

American inventiveness and desire to build developed because we were guaranteed the right to own our success.

For most of our history no one dared tell Americans: “You didn’t build that.”

In Bowling Green, KY, the Taing family owns the Great American Donut shop. Their family fled war-torn Cambodia to come to this country. My kids and I love to eat donuts so we go there frequently.

The Taings work long hours. Mrs. Taing told us that the family works through the night to make donuts. The Taing children have become valedictorians and National Merit Scholars.

The Taings from Cambodia are an American success story, so Mr. President don’t you go telling the Taings: “You didn’t build that.”

When you say they didn’t build it, you insult each and every American who ever got up at the crack of dawn. You insult any American who ever put on overalls or a suit.

You insult any American who ever studied late into the night to become a doctor or a lawyer. You insult the dishwasher, the cook, the waitress.

You insult anyone who has ever dragged themselves out of bed to strive for something better for themselves or their children.

My great grandfather, like many, came to this country in search of the American Dream. No sooner had he stepped off the boat then [sic] his father died.

He arrived in Pittsburgh as a teenager with nothing, not a penny. He found the American Dream: not great wealth, but a bit of property in a new land that gave him hope for his children.

In America, as opposed to the old country, success was based on merit. Probably America’s greatest asset was that for the first time success was not based on who you were but on what you did.

My grandfather would live to see his children become doctors, ministers, accountants, and professors. He would even live to see one of his sons … a certain Congressman from Texas … run for President of the United States of America.

Immigrants have flocked to our shores seeking freedom. Our forbearers came full of hopes and dreams. So consistent and prevalent were these aspirations that they crystallized into a national yearning we call the American Dream.

No other country has a Dream so inextricably associated with the spirit of its people.

In 1982, an American sailor, John Mooney, wrote a letter to his parents that captures the essence of the American Dream:

‘Dear Mom and Dad, today we spotted a boat in the water, and we rendered assistance. We picked up 65 Vietnamese refugees. … As they approached the ship, they were all waving and trying as best they could to say, ‘Hello America sailor! Hello Freedom man!’ It’s hard to see a boat full of people like that and not get a lump somewhere between chin and bellybutton. And it really makes one proud and glad to be an American. … It reminds us all of what America has always been — a place a man or woman can come to for freedom.”

Hung and Thuan Tringh are brothers and friends of mine. They came to America on one of those leaky, over-crowded boats. They were attacked at sea by pirates. Their family’s wealth was stolen. Thuan spent a year on a South Pacific island existing on one cup of rice and water each day until he was allowed to come to America. Now both of these men and their families are proud Americans. Hung owns his own business and Thuan manages a large company. They are the American Dream.

So, Mr. President, don’t go telling the Tringh family: ‘You didn’t build that.’

When the President says, ‘You didn’t build that,’ he is flat out wrong. Businessmen and women did build that. Businessmen and women did earn their success. Without the success of American business we wouldn’t have any roads, or bridges, or schools.

Mr. President, you say the rich must pay their fair share. When you seek to punish the rich, the jobs that are lost are those of the poor and middle class.

When you seek to punish Mr. Exxon Mobil, you punish the secretary who owns Exxon Mobil stock.

When you block the Keystone Pipeline, you punish the welder who works on the pipeline.

Our nation faces a crisis. America waivers. Unfortunately, we are one of a select group of countries whose debt equals their gross domestic product.

The republic of Washington and Jefferson is now in danger of becoming the democracy of debt and despair. Our great nation is coming apart at the seams and the President seems to point fingers and blame others.

President Obama’s administration will add nearly $6 trillion dollars to our national debt in just one term.

This explosion of debt is unconscionable and unsustainable. Mr. President, we will not let you bankrupt this great nation!

Republicans and Democrats alike must slay their sacred cows. Republicans must acknowledge that not every dollar spent on the military is necessary or well-spent, and Democrats must admit that domestic welfare and entitlements must be reformed.

Republicans and Democrats must replace fear with confidence, confidence that no terrorist, and no country, will ever conquer us if we remain steadfast to the principles of our Founding documents.

We have nothing to fear except our own unwillingness to defend what is naturally ours, our God-given rights. We have nothing to fear that should cause us to forget or relinquish our rights as free men and women.

To thrive we must believe in ourselves again, and we must never — never — trade our liberty for any fleeting promise of security.

Author Paul Kengor writes of a brisk evening in small-town Illinois. Returning home from a basketball game at the YMCA, an 11 year old boy is stunned by the sight of his father sprawled out in the snow on the front porch. “He was drunk,” his son later remembered. “Dead to the world…crucified.” The dad’s hair was soaked with melted snow, matted unevenly against the side of his reddened face.

The boy stood over his father for a minute or two. He simply wanted to let himself in the door and pretend his dad wasn’t there. Instead, he grabbed a fistful of overcoat and heaved his dad to the bedroom, away from the weather’s harm and neighbors’ attention.

This young boy became the man – Ronald Reagan – whose sunny optimism and charisma shined so brightly that it cured the malaise of the late seventies, a confidence that beamed so broadly that it pulled us through a serious recession, and a faith that tugged so happily at all hearts that a generation of Democrats became Republicans.

The American Dream is that any among us could become the next Thomas Edison, the next Henry Ford, the next Ronald Reagan.

To lead us forward, away from the looming debt crisis, it will take someone who believes in America’s greatness, who believes in and can articulate the American dream, someone who has created jobs, someone who understands and appreciates what makes America great, someone who will lead our party and our nation forward.

I believe that someone is our nominee: Governor Mitt Romney.

As Reagan said, our freedom is never more than a generation away from extinction. If our freedom is taken, the American Dream will wither and die.

To lead, we must transform the coldness of austerity into the warm, vibrant embrace of prosperity.

To overcome the current crisis, we must appreciate and applaud American success. We must step forward, unabashedly and proclaim: You did build that. You earned that. You worked hard. You studied. You labored. You did build that. And you deserve America’s undying gratitude. For you, the individual, are the engine of America’s greatness.

Thank you.”

UPDATE: Why is Mike Huckabee speaking, but not Ron Paul? “Huck’s For Huck—Paul’s For America.”