Category Archives: Debt

Update II: Beck: 'I'm With Ron Paul' (Breaking From The Pack)

Debt, Foreign Policy, Founding Fathers, Glenn Beck, Homeland Security, libertarianism, Ron Paul, War

A good few posts ago, I observed that “in his groundbreaking series on the American Progressive Movement, Fox News personality Glenn Beck, previously an unambiguously pro-war military-booster, was inching towards examining his support for the kind of state expansion (via warfare) the founders would have abhorred.

Glenn made the final leap today to a non-interventionist foreign policy emphasizing American interests and self-defense and no nation building. He said the words, “I am with Ron Paul.” This could be good for the country—unless Beck is forced by his backers (FoxNews) to back down.

For example, this reasonable remark of Obama’s is drawing FoxNews ire:

“It is a vital national security interest of the United States to reduce these conflicts because whether we like it or not, we remain a dominant military superpower, and when conflicts break out, one way or another we get pulled into them. And that ends up costing us significantly in terms of both blood and treasure.”

I will post the Beck YouTube feature as soon as it’s up (readers are welcome to beat me to it).

Update: “America Is a Republic, Not an Empire” by Glenn Beck:

“The example we set now is what pisses everyone off: We say we’re going to spread democracy, but we bed dictators, we bow to Saudi princes, when it’s to our advantage. George Washington wanted us to be like the Swiss: Enemy of none, friend to all. Places like Germany — hey, we’re glad you are all straightened out, but we’re pulling out, you’re on your own. We’re not staying. We need to get out of the Korean Peninsula and Japan. No longer will we be the world’s loiterers.

The United States spends approximately $102 billion annually to maintain troops, equipment, fleets and bases overseas — if you count Iraq and Afghanistan it jumps to $250 billion. Well, I’m tired of being the world’s policeman. And in many cases we are the world’s loiterers. We need to have a “no loitering” policy.

That policy comes from the progressives. The Republicans say we’ll send in the “green helmets” and just nation build our way to global security. The liberals want to do it through the United Nations; they want to send in the “blue helmets” — which we pay for.

This doesn’t work. I don’t want to nation build. I don’t want a global government or military force.

And for all the Don Rumsfelds out there watching who are cursing me out right now because they think no time is a good time to cut defense spending. Well, maybe this will help. This chart shows who accounts for all military spending in the world.

Almost half of all military spending in the world — 47 percent — is America. The next biggest spender is Europe — that’s not even a country, they spent $289 billion on military-related expenses. We almost spent that much outside our country for our own defense!

So don’t tell me we can’t afford to cut back. Clearly we can.

And when we are in a situation like Afghanistan, we fight to win it. With all of our technology today, why can’t we get in and out of Afghanistan in a couple of years? Because the politicians have their grimy little fingers on everything. Take the military off the leash; if you decide to go to war, unhook those dogs and get the hell out of the way.”

Update II (April 16): Together with the Cato Institute, the author of the blog Downsizing the Federal Government in particular, Beck has been running pragmatic, hour-long workshops on where and how much to slash. Pretty much everything. The man is a force of nature.

Back to the matter of Beck’s “I’m with Ron Paul on foreign policy” statement: This too is a very important development. Beck is pulling away from the neoconservative pack at Fox. By declaring war on their gratuitous wars he has driven a wedge between himself and the likes of Hannity, O’Reilly, Krauthammer, Kristol, and all the followers (I don’t know a Republican ditto head who doesn’t go along with the war-all-the-time = a strong national defense formula). The unity of the ditto heads on war policy was unshakable.

Again: By denouncing the war talisman, Beck, a major star on the Right, has created oscillation in the ossifying GOP. He has broken a united front which—thanks to the likes of Hannity, Coulter, Malkin, O’Reilly; National Review, Weekly Standards—seemed unchallenged.

Update II: Beck: ‘I’m With Ron Paul’ (Breaking From The Pack)

Debt, Economy, Foreign Policy, Founding Fathers, Glenn Beck, Homeland Security, libertarianism, Ron Paul, War

A good few posts ago, I observed that “in his groundbreaking series on the American Progressive Movement, Fox News personality Glenn Beck, previously an unambiguously pro-war military-booster, was inching towards examining his support for the kind of state expansion (via warfare) the founders would have abhorred.

Glenn made the final leap today to a non-interventionist foreign policy emphasizing American interests and self-defense and no nation building. He said the words, “I am with Ron Paul.” This could be good for the country—unless Beck is forced by his backers (FoxNews) to back down.

For example, this reasonable remark of Obama’s is drawing FoxNews ire:

“It is a vital national security interest of the United States to reduce these conflicts because whether we like it or not, we remain a dominant military superpower, and when conflicts break out, one way or another we get pulled into them. And that ends up costing us significantly in terms of both blood and treasure.”

I will post the Beck YouTube feature as soon as it’s up (readers are welcome to beat me to it).

Update: “America Is a Republic, Not an Empire” by Glenn Beck:

“The example we set now is what pisses everyone off: We say we’re going to spread democracy, but we bed dictators, we bow to Saudi princes, when it’s to our advantage. George Washington wanted us to be like the Swiss: Enemy of none, friend to all. Places like Germany — hey, we’re glad you are all straightened out, but we’re pulling out, you’re on your own. We’re not staying. We need to get out of the Korean Peninsula and Japan. No longer will we be the world’s loiterers.

The United States spends approximately $102 billion annually to maintain troops, equipment, fleets and bases overseas — if you count Iraq and Afghanistan it jumps to $250 billion. Well, I’m tired of being the world’s policeman. And in many cases we are the world’s loiterers. We need to have a “no loitering” policy.

That policy comes from the progressives. The Republicans say we’ll send in the “green helmets” and just nation build our way to global security. The liberals want to do it through the United Nations; they want to send in the “blue helmets” — which we pay for.

This doesn’t work. I don’t want to nation build. I don’t want a global government or military force.

And for all the Don Rumsfelds out there watching who are cursing me out right now because they think no time is a good time to cut defense spending. Well, maybe this will help. This chart shows who accounts for all military spending in the world.

Almost half of all military spending in the world — 47 percent — is America. The next biggest spender is Europe — that’s not even a country, they spent $289 billion on military-related expenses. We almost spent that much outside our country for our own defense!

So don’t tell me we can’t afford to cut back. Clearly we can.

And when we are in a situation like Afghanistan, we fight to win it. With all of our technology today, why can’t we get in and out of Afghanistan in a couple of years? Because the politicians have their grimy little fingers on everything. Take the military off the leash; if you decide to go to war, unhook those dogs and get the hell out of the way.”

Update II (April 16): Together with the Cato Institute, the author of the blog Downsizing the Federal Government in particular, Beck has been running pragmatic, hour-long workshops on where and how much to slash. Pretty much everything. The man is a force of nature.

Back to the matter of Beck’s “I’m with Ron Paul on foreign policy” statement: This too is a very important development. Beck is pulling away from the neoconservative pack at Fox. By declaring war on their gratuitous wars he has driven a wedge between himself and the likes of Hannity, O’Reilly, Krauthammer, Kristol, and all the followers (I don’t know a Republican ditto head who doesn’t go along with the war-all-the-time = a strong national defense formula). The unity of the ditto heads on war policy was unshakable.

Again: By denouncing the war talisman, Beck, a major star on the Right, has created oscillation in the ossifying GOP. He has broken a united front which—thanks to the likes of Hannity, Coulter, Malkin, O’Reilly; National Review, Weekly Standards—seemed unchallenged.

Update II: King Of Keynesians (Preaches To Commoners)

Debt, Economy, EU, Europe, Federal Reserve Bank, Natural Law

New York Times columnist Paul Krugman expresses the monetary policy of the US government, both Obama and his predecessor. If anyone doubts how progressive the US is, listen to Krugman (via Peter Schiff) berate “the monetary priggishness of the German heavyweights in the European Union, who are ‘foolishly’ seeking to prevent inflation [in the Greek debt crisis] and impose fiscal discipline.”

Krugman argues “that the best solution for Athens would be to simply inflate away its debt burden with printing press money. His theoretical justification is put forward in a familiar Keynesian recipe: deficit spending leads to inflation and growth, which leads to greater employment and rising GDP, which makes debt payments much easier to bear in relative terms. He laments that Greece does not control its own currency and is therefore unable to pursue such a policy on its own accord. He implores U.S. policy makers, who do control their own monetary policy, to take heed of the danger and avoid such a course.

In simple terms, Krugman believes that inflation is the best cure for burdensome debt problems.” …

Peter Schiff, always worth reading.

Update I (April 12): Keynes’s theory is not economics, but politics. He came to dominate political platforms by opposing free trade, balanced budgets and the gold standards, and by proposing economic management and interventionism through busting the budget. His devotees are indeed pimps to the political class, with no fealty to or familiarity with the laws of economics.

Update II (April 13): WHEN KEYNESIANS PREACH TO COMMONERS. “Fed’s Bernanke stresses need for financial literacy”:

“Many American families are struggling in the aftermath of the financial crisis, which reinforces the need for reliable and useful information to facilitate good financial choices,” he said in remarks prepared for delivery to the National Bankers Association Foundation.

If applied by the Little Man, literacy such as the Chairman’s would imply endless spending financed by the counterfeiting of funny money.

CBOafs Scores Always Way Off

Debt, Democrats, Economy, Government, Healthcare, Political Economy, Regulation

Has any bill passed by Washington ever come in on or under budget? Of course not, but faith runs eternal among the faithful. Cato Institute’s Michael Cannon has said what I did in my last column, “Heeere’s Health-Scare”: “Ultimately, the CBOafs’ forecast is only as good as their premise, which is faulty” (my version). “The Democrats have required the CBO to adopt some really unrealistic assumptions … even if those projections are accurate, politics gets hold of that program. And people start demanding more out of that program” (Cannon’s).

Here are some facts from a research paper authored by FreedomWorks Foundation:

* “The Medicare Program: When Medicare was instituted in 1965, there was no Congressional Budget Office. Instead, in 1967 House Ways and Means analysts estimated the cost of the program. Medicare, they predicted, would cost $12 billion in 1990. (1) They were wrong—by a staggering factor of 10. The actual spending in 1990 was $110 billion. (2) And Medicare costs continue to skyrocket. Through the first 9 months of 2009, Medicare has cost taxpayers $314 billion and that price tag continues to grow by 10%. (3)

In the case of the Medicare Program, the government estimate was off by over 816%. If the CBO estimate for the Senate health care bill is off by the same percentage, then the price of reform may be as high as $7.74 trillion.”