Category Archives: budget

Eviscerating ObamaCare

eviscerating obamacare

When President Obama met with party leaders in 2009 Eric Cantor pitched some ideas for the stimulus bill.  The president responded, “Elections have consequences and, at the end of the day, I won.” The 800 billion dollar stimulus went on to pass with three Republican votes. And ObamaCare rammed its way through Congress without any Republican support. At the time Democrats controlled the White House, Senate, and House.

Eviscerating ObamaCare

Now that the worm has turned Republicans are committed to eviscerating ObamaCare. But they’re divided over how to do the deed.

The program has never been popular with voters. A new Rasmussen survey finds that only 12% of voters want to keep it as it is. However 56% want the law improved piece by piece. Only 30% want to see the program immediately brought to room temperature.

Yellen Takes Off Training Wheels

151218-YellenJanet Yellen took the training wheels off the economy on Wednesday. After seven years of near zero percent interest rates, the Fed hiked rates a quarter percent.

Meanwhile, Congress passed a 2,000 page,  1.2 trillion dollar budget. That tacked another 157 billion onto the 18.5 trillion dollar national debt.

Yellen

On Friday the Dow dropped 370 points.

David Stockman says, “sell the bonds, sell the stocks, sell the house”. IBD wonders if the markets know something the Fed doesn’t.

Kasich Fantasy

151030-kasich-fantasyOhio governor John Kasich is trying to position himself as the grownup in the Republican free-for-all. He has solid credentials. He’s a two term governor of a swing state with a 2 billion budget surplus. He was chairman of the House Budget Committee when the federal budget was last balanced in 1997.

It’s an impressive resume, and he’s impressed by it.

Kasich Fantasy

Kasich does not take The Donald or The Doctor (Ben Carson) seriously. They annoy him.

In Wednesday’s debate he called the various Trump and Carson immigration and tithing tax plans a fantasy. Given the hostility of the CNBC moderators you’d think someone might have picked up on the theme. Instead they asked about fantasy football.

Speaking of fantasy, this morning’s Real Clear Politics poll average has Trump at 27, Carson at 22.2, and Kasich at 2.2.

 

 

Government Train Wreck

150514-train-wreck

A reporter blamed the tragic Amtrak train wreck in Philadelphia on not enough government spending on infrastructure. House Speaker John Boehner said the train wrecked because it was going 106 mph in a 50 mph zone. This may be just the sort of thinking President Obama wants Boehner to change.

Men in Green

150201pan

I Googled Obama-Robin Hood and got 10,400,000 links . Obama-Peter Pan brought 1,800,000. Obama-Fantasy was good for 51,600,000.

I’m guessing he’s one of the men in green.

The popular Robin Hood story is that he steals from the rich and gives to the poor. Except the real Robin Hood – the legend anyway- stole from the Sheriff of Nottingham who taxed the poor.

In that story President Obama wouldn’t be Robin Hood. He’d be the Sheriff of Nottingham, except he taxes the rich. Well, the poor too if you want to get into the Obama Care weeds.

He’s obsessed with fairness. In 2008 Charlie Gibson pointed out that when Clinton and Bush cut the capital gains tax, revenues increased. He asked Obama if he would increase the capital gains tax even if it meant less revenue to the government. The future president said he would – in the interest of fairness.

Dan Henninger in Thursday’s WSJ Wonder Land column wondered about fairness:

Other than the president, the one other slice of the American population that obsesses over fairness everywhere is children. Every parent knows that about the age of four, kids in groups start saying, “That’s not fair.”

If you have a birthday party and cut pieces of the cake for all, one of them will say, “Her piece is bigger than mine. Why is she getting a bigger piece? That’s not fair.”

And parents, ever since Adam and Eve left the Garden of Eden, have felt obliged to instruct their children on the reality. Life isn’t going to be “fair.” And the path into the future requires more than envy, tantrums and grabbing what belongs to others.

Cradle-to-grave fairness may be infantile, but the idea lives on, especially in politics and most of all in Mr. Obama’s mind.

Even Jimmy Carter knows life’s not fair.

Anyway, in President Obama’s mind it doesn’t matter if he’s Robin Hood or Peter Pan. We’ll always be the serfs.