Pethokoukis – BO made it worse; York – on your own; York – Perry plans; Agenda
21; TIME’s slaves; Walter Williams – media ignorance about the founders; Bubba
wants corporate tax cut; Hillary’s new brothers; Huma Abedin ignored; ISR west
bank; Sowell – taxes reality/agenda; Stimulus
cost $278K; China’s debt
Announcements at p. 10 and at http://www.deadcatsandclippings.com/?page_id=3984
“Not only among
politicians, but also among much of the media, and even among some of the
public, the quest is not for truth about reality but for talking points that
fit a vision or advance an agenda.” Thomas Sowell
James Pethokoukis, Reuters: “BO Really Might Have Made It Worse”
“…The centerpiece of Obama’s plan to “push the car out of
the ditch” was the trillion-dollar (including interest expense on the borrowed
money) American Recovery and Reinvestment Act. A recent article in The Weekly Standard determined that it may have cost
as much as $278,000
for each job created. But that’s generous. Respected Stanford economist John
Taylor, perhaps the next chairman of the Federal Reserve, has analyzed the
actual results of the ARRA. Not what the White House’s garbage-in, garbage-out
models say happened, but what actually happened as gleaned from government
statistics. Taylor, simply put, looked at whether consumers actually consumed
and whether government actually spent in a way that produced real growth and
families largely saved the transfers and tax rebates. The federal government increased
purchases, but by only an immaterial amount. State and local governments used
the stimulus grants to reduce their net borrowing (largely by acquiring more
financial assets) rather than to increase expenditures, and they shifted
expenditures away from purchases toward transfers. Some argue that the economy
would have been worse off without these stimulus packages, but the results do
not support that view.
“Indeed, the results are horrifying…”
Byron York, Washington Examiner: “You’re on your own, Jack!”
“…Biden’s warning, which received virtually no coverage in
the press, is part of the Obama re-election campaign’s 2012 strategy for
organized labor. It’s a two-part plan. One, use the president’s executive
powers to give labor all sorts of advantages that can’t be achieved through legislation.
And two, when labor leaders complain that they haven’t gotten everything they
want, tell them they have nowhere else to go.”
Byron York, Washington Examiner: Perry Gets his Data
prospects have been buoyed by two recent polls. A new Fox
News national survey of Republicans shows Perry in second place, behind
frontrunner Mitt Romney and ahead of announced candidates Michele Bachmann, Tim
Pawlenty, Herman Cain, Jon Huntsman, Rick Santorum, Newt Gingrich, and Ron
Paul, as well as potential candidates Sarah Palin and Rudy Giuliani. In that
survey, Romney is the first choice of 18 percent of Republicans, with Perry
second at 13 percent. In another
poll, conducted by Marist, Perry is tied with Giuliani for second
nationally, behind Romney.
advisers know poll results can be transitory. Of greater concern now are
questions about money and organization. Perry does not want to enter a race in
which he has to spend nearly all of his time fundraising, rather than
campaigning. He knows that voters in early states demand face-to-face contact,
and he knows he would not be able to do enough retail campaigning if he were
required to continually criss-cross the country asking for money…”
Caller: Agenda 21 – TEA’s Nightmare
“Tea Party activists have started to sound the alarms
over a United Nations initiative most Americans have never heard of, one that
many in the movement see as one of the greatest threats to America’s
“Americans are so focused on Congress and Obama at the
federal level of government right now that most are overlooking the socialism
creeping in at the local level through Agenda 21,” the
Tea Party publication the Tea Party Tribune warned readers on July 2.
Agenda 21 is a UN initiative that 178 governments at the
United Nations Conference on Environment and Development
(UNCED) adopted in 1992 under the auspices of saving the environment. It bills
itself as a coordinated plan of action to help nations and local government
Blackwell and Klukowski (American Spectator) demolish TIME’s rant about our constitution.
Yes, our constitution still matters because some of us still like how we’ve
managed responsibility for more than 200 years. That is, bottom-up innovation
is more important than having a dictator or a movie star. Such was true for
Adam Smith, Fred Hayek, and Milton Friedman as it was for Chuck Darwin. Bottom-up and “free enterprise” have, however,
substantial contributions from fun. They are loud, inventive, and entertaining.
A recent history by Thaddeus
Russell – hardly a conservative – tells an unusual story about slavery,
patriotism, and the incorporation of the Irish, Jews, and Italians into a “fun”
culture and then within several generations, making a staid, boring,
labor-filled one out of once-joyful people. Bill Bennett’s histories missed all
of this stuff!
First, don’t talk to me about
“reparations”… Slaves worked less than property owners and went over a hill for
days or months if they felt overworked. True for men. True for women. The
blacks sold their time and kept the wages for jobs done outside of their “home”
plantation. When slaves were pushed too hard, they destroyed property, ignored
chores, and even put ground glass in Massa’s food. Many of them also dressed
better than average whites, they danced more, and interracial children were ten
times more frequent in cities than on farms. And the first Jews, Italians, and
Irish off the boat mixed with blacks and found careers, singing their music,
copying their dances, and telling their stories. Dan Emmett, a blackface
minstrel, wrote Dixie but as an
anthem to express how the blacks missed a more meaningful, less stressed
existence before Mr. Lincoln and his troops came riding south. Further, only nine percent left the
plantations immediately after Emancipation – the others stayed one to five
years and many testified about how much harder life was after the War was over.
For many blacks, slavery was a cherished part of the “good old days.” And this
sounds much like Obama’s promises – a house, doctor, food, a school, and
regular vacations in return for a smile and not much work…
Russell, Thaddeus (2010) A Renegade History of the United
States. NY:Free Press.
Williams: Gross Media Ignorance about the Founders
“There’s little that’s intelligent or informed about Time
magazine editor Richard Stengel’s article “One Document, Under Siege”
(June 23, 2011). It contains many grossly ignorant statements about our
If I believed in conspiracies, I’d say Stengel’s article is part of a leftist
agenda to undermine respect for the founding values of our nation.
“Stengel says: “The framers were not gods and were
not infallible. Yes, they gave us, and the world, a blueprint for the
protection of democratic freedoms — freedom of speech, assembly, religion –
but they also gave us the idea that a black person was three-fifths of a human being,
that women were not allowed to vote and that South Dakota should have the same
number of senators as California, which is kind of crazy. And I’m not even
going to mention the Electoral College.”
Mike Allen, Politico: Bubba Wants a Corporate Tax Cut
— President Bill Clinton says the nation’s corporate tax rate is
“uncompetitive” and called for a lower rate as part of a “mega-deal” to raise
the debt ceiling.
“When I was
president, we raised the corporate income-tax rates on corporations that made
over $10 million [a year],” the former president told the Aspen Ideas Festival
on Saturday evening.
“It made sense
when I did it. It doesn’t make sense anymore — we’ve got an uncompetitive rate.
We tax at 35 percent of income, although we only take about 23 percent. So we
should cut the rate to 25 percent, or whatever’s competitive, and eliminate a
lot of the deductions so that we still get a fair amount, and there’s not so
much variance in what the corporations pay. But how can they do that by Aug.
Andrew McCarthy, NRO: Hillary and her Brothers
“Don’t say I didn’t warn you. Besides explaining what the
Muslim Brotherhood is and has always been, the major point of The
Grand Jihad: How Islam and the West Sabotage America was to warn that
this day was coming. And so it has come: Reuters reports
that the Obama administration has established a policy of formal contacts with
the Muslim Brotherhood.
“The Brotherhood is the world’s most important Islamist
organization. It is openly, unabashedly committed to the destruction of the
United States and the West. In typical Obama fashion, this disastrous decision
to engage America’s avowed enemies has been couched as the mere continuation of
prior policy: Secretary of State Hillary Clinton is reported to have confirmed
that the U.S. would “resume” contacts which had “occurred in recent years.” But
make no mistake about it, this is a new policy…”
Hillary’s Friend, Huma Abedin, Cannot Be Ignored
“…Whether it’s the CIA or the military, sophisticated
surveillance is proving inadequate, and proper background checks of Middle
Easterners aren’t being done. Each example serves as another case in point.
What makes us think that the State Department would update its
virus protection program? Even more disconcerting than Mohamed and
Balawi is Secretary of State Hillary Clinton’s aide and deputy chief of staff Huma
Abedin, who has been with Clinton since 1996. She was never properly
screened; this will be proven beyond a shadow of a doubt.
“To be concerned about Abedin’s access to sensitive
information is an issue that will most likely garner unsolicited curses from
“sensitive” Americans who are enamored with her. These same people ignore this
ties to the Muslim Brotherhood. Lt. Col. Robert Anderson’s detailed reports
aimed at getting Army intelligence to investigate Ali Mohamed — and have him
court-martialed — were also ignored.
“Abedin is even more potentially dangerous…”
Arieh Eldad, West Bank, ISR:
“I was instrumental in establishing the Israeli
National S k i n Bank, which is the largest in the world. The National Skin
Bank stores skin for every-day needs as well as for war-time or mass casualty
situations. This Skin Bank is hosted at the Hadassah Ein Kerem University
hospital in Jerusalem where I was the Chairman of Plastic Surgery.
“I was asked to supply skin for an Arab woman from Gaza, who was hospitalized
in Soroka Hospital in Beersheva after her family burned her because she was
suspected of having an affair. We supplied all the needed homograft s for her
treatment. She was successfully treated by my friend and colleague, Prof. Lior
Rosenberg, and discharged to return to Gaza. She was invited for regular
follow-up visits to the outpatient clinic in Beersheva.
One day, she was caught at a border crossing wearing a suicide belt. She meant
to e x p l o d e herself in the outpatient clinic of the hospital where they
saved her life.
It seems that her family promised her that if she did that, they would forgive
It is not a territorial conflict. This is a civilizational conflict, or,
rather, a war between Civilization and Barbarism.
Netanyahu gets it. Obama does not.
Thomas Sowell, NRO: Taxes – Reality or Agenda?
“…The political battles about whether to have high tax
rates on people in high income brackets or to instead have “tax cuts for the
rich” have been fought out in at least four different administrations in the
20th century — under Presidents Calvin Coolidge, John F. Kennedy, Ronald
Reagan, and George W. Bush.
“The empirical facts are there, but they mean nothing if people don’t look at
them, and instead rely on talking points.
“The first time this political battle was fought, during the Coolidge
administration, the tax-cutters won. The data show that “the rich” supplied
less tax revenue to the government when the top income tax rate was 73 percent
in 1921 than they supplied after the income tax rate was reduced to 24 percent
“Because high tax rates can easily be avoided, both then and now, ‘the rich’
were much less affected by high tax rates than was the economy and the people
who were looking for jobs….”
Standard: “Obama’s Economists:
‘Stimulus’ Has Cost $278,000 per Job
“When the Obama administration releases a report on the
Friday before a long weekend, it’s clearly not trying to draw attention to the
report’s contents. Sure enough, the “Seventh Quarterly Report” on the economic
impact of the “stimulus,” released on Friday, July 1, provides further evidence
that President Obama’s economic “stimulus” did very little, if anything, to
stimulate the economy, and a whole lot to stimulate the debt…over the past six
months, the economy would have added or saved more jobs without the
“stimulus” than it has with it. In comparison to how things would otherwise
have been, the “stimulus” has been working in reverse over the past six months,
causing the economy to shed jobs…”
“Taking the midpoint of differing estimates previously
given by the banking regulator and the central bank, Moody’s said the loans
overlooked by the audit could total Rmb3,500bn and that as many as
three-quarters could turn sour.
“That would push the bad debt ratio for banks to between
8 per cent and 12 per cent of all loans, up from just over 1 per cent now and
worse than Moody’s had previously anticipated.
“We conclude that the potential scale of problem loans at
Chinese banks may be closer to our stress case than our base case. This is
clearly a negative trend for creditors,” said Yvonne Zhang, one of the authors
of the report…”
Gossip at Starbucks…
speculation this morning that a woman was not convicted for killing her child.
Not a word about the budget or about BO…