Monday, September 26, 2011

Obama Lies about the ‘Do-Nothing Congress’

His party, not the Republicans, is the obstacle.

‘This Congress, they are accustomed to doing nothing, and they’re comfortable with doing nothing, and they keep on doing nothing,” President Obama whined at a September 15 Democratic National Committee gathering in a private Washington residence.

Now that his “Blame Bush” hobby horse finally has retired to the glue factory, Obama resorts to pinning America’s woes on the “Do-Nothing Congress.” If only these parliamentarians would stop taking endless lunches, sipping cocktails at Capitol Hill happy hours, and napping at their desks, America might have some chance of returning to normal.

Obama speaks as if the entire Congress were in lock-step Republican opposition to his every initiative. Damn those pesky elephants!

Of course, Obama’s rhetoric cynically turns things upside down.

Congress consists of a do-something House of Representatives, run by Republicans, and a do-nothing Senate controlled by Obama’s very own Democrats. Obama evidently believes that if he can keep spouting clever lies and distortions, no one will call him on it. Well, it’s time to do so.

The 112th Congress has been characterized by a very active legislative pace in the Republican House, featuring the passage of many measures designed to revive America’s exhausted economy.

The Democratic Senate, meanwhile, is a much lazier place, where House Republicans’ measures go to die.

The figures bear this out, beyond debate.

Through September 15, the Republican House had been in session for 120 days. The Democratic Senate through the same date had been in session only 115 days.

In terms of recorded votes, the two bodies are as different as Times Square and the Everglades. Through September 15, the GOP House had voted 711 times. Meanwhile, across the same period, the Democratic Senate had only 137 recorded votes. So, the allegedly lethargic GOP legislators whose sloth dooms the nation actually are five times as energetic as their indolent counterparts in the Democratic Senate.

This distinction might discredit House Republicans if they wasted their time voting on National Apricot Yogurt Month and similar matters of national urgency. In fact, Republicans have approved serious legislation designed to get America moving.

“Our new majority has passed more than a dozen pro-growth measures designed to address the jobs crisis,” Speaker John Boehner and Majority Leader Eric Cantor wrote Obama on September 6. “Aside from repeal of the 1099-reporting requirement in the health care law, however, none of the jobs measures passed by the House to date have been taken up by the Democrat-controlled Senate.”

These have included bills to reduce anti-business regulations, accelerate offshore oil production, and speed the Keystone XL pipeline, which would carry Canadian oil to refineries in Texas. The pipeline alone would create 20,000 jobs.

Senate Democratic leader Harry Reid seems to be in no rush to consider Obama’s American Jobs Act, even though Obama wants it enacted “right now!”

“We’ve got to get rid of some issues first,” Reid said. For now, he is not sure “exactly what I’m going to do yet with the president’s jobs bill,” especially since some of Reid’s own Democrats, such as Mary Landrieu of Louisiana and Jim Webb of Virginia, seem ho-hum about Obama’s $447 billion Stimulus Jr.

While House Republicans adopted a budget last April 15, the Democratic Senate has not approved a budget since April 29, 2009. This Democratic inaction seems to violate the U.S. Congressional Budget Act, which requires passage of an annual budget resolution. Indeed, the Senate rejected Obama’s budget in May by a vote of 0 to 97 — with every Democrat in the chamber voting nay.

Obama can disagree with every piece of paper passed by the GOP House. But when he slyly bashes Republicans by accusing “this Congress” of “doing nothing,” he simply is lying through his teeth. If Obama wants the entire Congress to get something done, he should tell Harry Reid to wake up and do his job.

— New York commentator Deroy Murdock is a nationally syndicated columnist with the Scripps Howard News Service and a media fellow at the Hoover Institution on War, Revolution and Peace at Stanford University.

Monday, September 19, 2011

Obama’s ‘Jobs Bill’ Makes ACORN Eligible for $15 Billion in Taxpayer Money

The community organizing pigs again line up to feast at the taxpayers' trough.
September 15, 2011 - 11:10 am - by Matthew Vadum

ACORN and other radical left-wing groups would be eligible for up to $15 billion in federal funding if President Obama’s new economic stimulus package becomes law.

Now that public polling shows Americans are realizing that economic stimulus programs don’t work, the Obama administration is calling the latest round of futile stimulus a “jobs bill.” In a sense it really is a jobs bill: a jobs bill for Saul Alinsky-inspired community organizers.

The draft legislation, which had not yet been introduced in Congress at press time, makes ACORN, Neighborhood Assistance Corporation of America (NACA), and a phalanx of leftist groups that regularly feed at the public trough eligible for funding.

Section 261 of the bill provides $15 billion for “Project Rebuild.” Grants would be given to “qualified nonprofit organizations, businesses or consortia of eligible entities for the redevelopment of abandoned and foreclosed-upon properties and for the stabilization of affected neighborhoods.” Radical groups like ACORN won’t get the whole $15 billion, though, because they will have to compete with state and local governments for the money.

ACORN would have to get creative to extract grant money from the $5 billion allotted in the legislative package for two other competitive grant programs covered in sections 214 and 215. At first glance ACORN wouldn’t seem to be eligible for funding under the Community Oriented Policing Stabilization Fund and First Responder Stabilization Fund, but oddly enough the group has managed over the years to receive funding from the Federal Emergency Management Agency and the Corporation for Public Broadcasting, so anything’s possible.

Friday, September 16, 2011

Government Races to Close Billions in Renewable Energy Loan Guarantees

By Amy Harder
Updated: September 16, 2011 | 11:16 a.m.


“Taxpayers have over $500 million at risk as a result of Solyndra’s bankruptcy,” House Energy and Commerce ranking member Henry Waxman, D-Calif., said on Wednesday. “We need to understand what happened and how we can avoid future losses.”

The Obama administration is in a race against the clock to close by month’s end more than a dozen renewable-energy loan guarantees totaling $9 billion. Of that, just over $3 billion would come from the federal government’s coffers.

It now has to do that amid an escalating political battle over a federally backed solar company spiraling into bankruptcy and facing an FBI probe. President Obama once praised the company, California-based Solyndra, as “the true engine of economic growth.”

At a House hearing Wednesday, there was bipartisan concern about risking more taxpayers’ dollars on renewable energy projects that ultimately fail. While Republicans’ rhetoric was more heated, Democrats agree it is a critical issue.

“Taxpayers have over $500 million at risk as a result of Solyndra’s bankruptcy,” House Energy and Commerce ranking member Henry Waxman, D-Calif., said on Wednesday. “We need to understand what happened and how we can avoid future losses.”

In 2009, Solyndra was the first company to receive a federal clean-energy loan guarantee as part of the stimulus package. The Fremont, Calif.-based maker of solar photovoltaic systems then received photo-op visits from Obama, Vice President Joe Biden, and Energy Secretary Steven Chu, all touting the job-generating potential of solar and other renewable energy industries. But on Aug. 31, Solyndra shuttered operations, laying off its 1,100 workers while seeking Chapter 11 bankruptcy protection.

Under the Recovery Act that Obama signed into law in February 2009, the Energy Department’s loan guarantee office was given roughly $6 billion to help cover the financing of renewable energy companies applying for loans both with the Treasury Department’s Federal Financing Bank and private lenders, such as banks. Over the last couple years, Congress has peeled away about half of that for other purposes and left the department with just $2.4 billion for the renewable loan guarantee program.

That $2.4 billion allocated to the Energy Department pays for each renewable energy project’s “credit subsidy,” a fee worth usually around 10 percent of the loan that helps defray costs if the loan fails. The Energy Department doesn’t disclose the credit subsidy rate of loans the government guarantees, so it’s unclear how much of that $2.4 billion is left. But it’s enough to support at least $9 billion in loan guarantees if they fall through.

When the Recovery Act passed, the department was given a sunset date of Sept. 30, 2011. That date is fast approaching with 14 companies’ loans still listed as “conditional” on the department’s website. Between now and Sept. 30, the administration is trying to finalize those loans, whose amounts total $9 billion. If the loans don’t close, the companies won’t get any money.

All of that $9 billion won’t come out of the federal government’s pocketbook as some House Republicans have claimed, but $3.1 billion of it will. Of the 14 projects pending as “conditional commitments” on the Energy Department’s website, half of them are lending from the Treasury Department’s Federal Financing Bank and half of them are lending from private lenders, according to DOE spokesman Damien LaVera.

The loans conditionally committed to the companies borrowing from the government total $3.18 billion. The other half loaning from private lenders totals roughly $5.8 billion. Most of the companies are in the solar industry. Of the companies seeking to borrow from the Treasury Department, the biggest loan—worth $1.18 billion—would go to SunPower Corporation Systems to build a solar farm in California. Another hefty loan of $737 million would go to SolarReserve to build a solar farm in Nevada. Most of the money Treasury has available—if loans are closed by Sept. 30—is targeted to solar companies. Of the seven companies borrowing from the government, four of them are in the solar industry, two in biofuels, and one in the wind sector, according to DOE’s website.

Wednesday, September 14, 2011

Here’s the latest from Greece, and it should be a wake up call.

This is happening right now, in an economy and political system that was supposed to be centrally managed to avoid such things. We are witnessing the collapse of the first domino, and the chain reaction’s blast wave will obliterate the societies of entire first world nations.

On the ground report from Greece by Manos
September 11, 2011

…It’s very important because all our discussions and postings seem to come true.

After our socio-fascist government implemented all of Germany’s directives, the Greek people have come to an absolute desperation and poverty.

What is also outrageous is the fact that are own government has passed the message to the global banksters and other nations that Greek people are
lazy and incapable.

Today, after two years of screwing and pressing us, most households and businesses have stopped paying. Stopped paying taxes, utility bills, toll fees, or anything else related to the government.

Two hours ago, this same government announced a new property tax (added to the 2 previous ones). This one will be calculated on every and each household, business, cottage, or even a barn for animals. It will be 4 euros per square meter calculated immediately, to be paid by this December the latest.

Once again let me tell you that we are not a lazy nation or useless people.

This has to do with some 4% of the working force, and all of them public servants who were hired by each government in order to gain votes for its next election campaign. So what’s actually happening is the same person who hired those people, now tries to persuade the rest of the nation that they are incapable.

The steps were very wisely thought out and implemented by the globalists.

They made fools out of us
They turned one against the other.
They decreased salaries and wages.
They increased prices of necessary goods.
They put us into poverty.
Now they demonize property by implementing more and more taxes
The next steps are to force us sell our properties to German and Chinese companies, and create jobs in German and Chinese factories for the thousands of hungry.

Please Mac, pass the message. Your people must learn from our suffering.

We are finished.

Alert yor friends, relatives, co-workers.

Be safe and stay alert. It’s coming.

Saturday, September 10, 2011

ACLU: ‘COMMUNISM IS THE GOAL’

ACLU: ‘COMMUNISM IS THE GOAL’

By J. Matt Barber

Irony is defined as "the use of words to convey a meaning that is the opposite of its literal meaning." The term doublespeak means "evasive, ambiguous language that is intended to deceive or confuse."

There is perhaps no greater example of ironic doublespeak than inclusion of the phrase "civil liberties" within the inapt designation: "American Civil Liberties Union."

Indeed, few leftist organizations in existence today can compete with the ACLU in terms of demonstrated hostility toward what the Declaration of Independence describes as "certain unalienable rights" with which Americans are "endowed by their Creator."

Consider the doublespeak inherent throughout the "progressive" Goliath's flowery self-representation:

The ACLU is our nation's guardian of liberty, working daily in courts, legislatures and communities to defend and preserve the individual rights and liberties that the Constitution and laws of the United States guarantee everyone in this country.

Now contrast that depiction with ACLU founder Roger Baldwin's candid vision:

I am for socialism, disarmament, and, ultimately, for abolishing the state itself... I seek the social ownership of property, the abolition of the propertied class, and the sole control of those who produce wealth. Communism is the goal.

Ironic, isn't it? So much for "life, liberty and the pursuit of happiness." By combining straightforward segments from each ACLU rendering we arrive with an accurate portrayal. One that cuts through the doublespeak:

The ACLU is...working daily in courts, legislatures and communities. Communism is the goal.


In 1931, just eleven years after the ACLU's inception, the US Congress convened a Special House Committee to Investigate Communist Activities. On the ACLU it reported:

The American Civil Liberties Union is closely affiliated with the communist movement in the United States, and fully 90 percent of its efforts are on behalf of communists who have come into conflict with the law. It claims to stand for free speech, free press and free assembly, but it is quite apparent that the main function of the ACLU is an attempt to protect the communists.

To be sure, the "main function of the ACLU" is entirely counter-constitutional.

A shared objective between both Communism generally, and the ACLU specifically is the suppression of religious liberty; principally, the free exercise of Christianity.

Karl Marx, high priest of the ACLU's beloved cult of Communism, once said: "The first requisite for the happiness of the people is the abolition of religion."

Even the ACLU's own promotional materials overtly advocate religious discrimination: "The message of the Establishment Clause is that religious activities must be treated differently from other activities to ensure against governmental support for religion."

Utter hokum.

The First Amendment's Establishment Clause -- a mere 10 words -- says nothing of the sort. Its message is abundantly clear, requiring severe distortion to stuff within the ACLU's Marxist parameters. It merely states: "Congress shall make no law respecting an establishment of religion..." That's it.

Now let's break it down. What do you suppose the Framers of the US Constitution -- a document expressly designed to limit the powers of federal government -- intended with the word "Congress"? Did they mean State government? Municipal government? Your local school district? Your third grade teacher?

Of course not. They meant exactly what they said: Congress. As in: The United States Congress! It takes someone with a distinctly disingenuous ulterior motive to derive anything else.

Now what did they mean by "...shall make no law respecting an establishment of religion?"

Well, in a letter to Benjamin Rush, a fellow-signer of the Declaration of Independence, Thomas Jefferson -- often touted by the left as the great church-state separationist -- answered that question. The First Amendment's Establishment Clause was singularly intended to restrict Congress from affirmatively "establishing," through federal legislation, a national Christian denomination (similar to the Anglican Church of England).

Or, as Jefferson put it: "[T]he clause of the Constitution" covering "freedom of religion" was intended to necessarily preclude "an establishment of a particular form of Christianity through the United States."

How far removed we are today from the original intent of our Founding Fathers. The ACLU is largely responsible for creating the gulf between the Constitution's original construction and its modern misapplication.

The ACLU remains one of America's most powerful secular-socialist political pressure groups. It relentlessly tramples underfoot the First Amendment, which guarantees sweeping and absolute liberty for all Americans -- including government employees -- to freely exercise their faith both publicly and privately without fear of reprisal: "Congress shall make no law respecting an establishment of religion, or prohibiting the free exercise thereof."

Examples of its constitutional abuses are manifold, but one of the most recent involves an ACLU assault against a group of Christians in Santa Rosa County, FL. Liberty Counsel represents those Christians.

An ACLU-crafted Consent Decree has been used as a weapon to threaten school district employees with fines and jail time for merely praying over a meal, and for exercising -- even while away from school -- their sincerely held Christian faith. You read that right. The ACLU is literally seeking to criminalize Christianity.

In August of 2009, Liberty Counsel successfully defended staff member Michelle Winkler from contempt charges brought by the ACLU after her husband, who is not even employed by the district, offered a meal prayer at a privately sponsored event in a neighboring county.

Liberty Counsel also successfully defended Pace High School Principal Frank Lay and Athletic Director Robert Freeman against criminal contempt charges, after the ACLU sought to have the men thrown in jail for blessing a lunch meal served to about 20 adult booster club members.

Under the Consent Decree teachers are considered to be acting in their "official capacity" anytime a student is present, even at private functions off campus.

Liberty Counsel describes this unconstitutional decree:

Teachers cannot pray, bow their heads, or fold their hands to show agreement with anyone who does pray. Teachers and staff cannot 'Reply' to an email sent by a parent if the parent's email refers to God or Scripture. Teachers either have to delete such references from the original email or reply by initiating a new email. Teachers and staff are also required to stop students from praying in their own private club meetings.

During witness testimony, Mrs. Winkler sobbed as she described how she and a coworker, who had recently lost a child, literally had to hide in a closet to pray.

Although the case continues, on Monday the ACLU suffered a tremendous setback while freedom took a significant step forward. Federal District Court Judge M. Casey Rodgers granted in part a Preliminary Injunction in favor of Liberty Counsel's twenty-four Christian clients.

Judge Rodgers concluded that even though "a preliminary injunction is an extraordinary and drastic remedy," one aspect of the Consent Decree -- its attempt to prohibit school employees from fully participating in private religious events -- is so flawed that it must be immediately halted.

The Court thus enjoined the School Board "from enforcing any school policy that restrains in any way an employee's participation in, or speech or conduct during, a private religious service, including baccalaureate" pending a trial on the merits.

"Progressives" are nothing if not consistent. As they gain confidence, they invariably rush across that bridge too far. They engage wild-eyed efforts to "fundamentally transform America" to reflect their own secular-socialist self-image.

I'm certain that both the bare-knuckle spirit of the American people and Liberty Counsel's enduring 92 percent win record against the ACLU will maintain a durable safeguard - an "impenetrable wall of separation" if you will - between our constitutionally guaranteed liberties and a subversive "progressive" agenda built upon the distinctly un-American creed: "Communism is the goal."

(Originally published in American Thinker)

Friday, September 9, 2011

Dissecting the Lies in Obama's $447 Billion "Shock-and-Awe" Reelection Ploy

Dissecting the Lies in Obama's $447 Billion "Shock-and-Awe" Reelection Ploy; Dead-on-Arrival in Congress? Alternative Proposal Will Not Cost a Dime

President Obama's rumored $300 stimulus program ballooned to $447 billion upon unveiling. For a full text of the speech, please see President Obama's jobs address

Amusingly, the plan is overweight tax cuts in an attempt to get Republican buy-ins.

Let's dissect portions of Obama's speech, lie by lie.

Obama: I am sending this Congress a plan that you should pass right away. It’s called the American Jobs Act. There should be nothing controversial about this piece of legislation.

Mish: That is lie #1. There shouldn't be anything controversial about the proposal, but there is. Obama's proposal is primarily an election stunt as opposed to a genuine effort to produce jobs.

Obama: Everything in here is the kind of proposal that’s been supported by both Democrats and Republicans – including many who sit here tonight.

Mish: That is lie number two. There is no general consensus by Democrats for tax cuts or Republicans for fiscal stimulus.

Obama: And everything in this bill will be paid for. Everything.

Mish: That is lie number 3. I will cut the president some slack and call those sentences one lie repeated rather than two lies. Obama's stimulus plan is nothing but another spend now, make cuts later "sleight-of-hand" proposal.

Obama: The purpose of the American Jobs Act is simple: to put more people back to work and more money in the pockets of those who are working. It will create more jobs for construction workers, more jobs for teachers, more jobs for veterans, and more jobs for the long-term unemployed. It will provide a tax break for companies who hire new workers, and it will cut payroll taxes in half for every working American and every small business. It will provide a jolt to an economy that has stalled, and give companies confidence that if they invest and hire, there will be customers for their products and services.

Mish: That is lie number 4. The primary purpose of the American Jobs Act is simple: To keep one person (namely President Obama), in his job.

Payroll tax cuts to businesses will not spur hiring. The idea is sheer lunacy. Businesses will hire only when it makes economic sense, not because of a reduction in employer social security taxes.

Obama: Pass this jobs bill, and we can put people to work rebuilding America. Everyone here knows that we have badly decaying roads and bridges all over this country. Our highways are clogged with traffic. Our skies are the most congested in the world.

Mish: Putting people to work will un-congest the skies? Is that lie number 5 or just complete silliness? High speed trains are not going to replace a significant amount of air traffic, nor will such programs be economically viable. Instead they will be a long-term drain on taxpayers. Moreover, if the president did any homework he would know China's high speed rail program is rife with fraud and shoddy workmanship, was overbudget, is falling apart, and is barely used. It was not economically viable.

Obama: The American Jobs Act will repair and modernize at least 35,000 schools. It will put people to work right now fixing roofs and windows; installing science labs and high-speed internet in classrooms all across this country.

Mish: Excuse me for asking, but didn't we pay for this already in the first stimulus plan?

Obama: And to make sure the money is properly spent and for good purposes, we’re building on reforms we’ve already put in place. No more earmarks. No more boondoggles. No more bridges to nowhere. We’re cutting the red tape that prevents some of these projects from getting started as quickly as possible. And we’ll set up an independent fund to attract private dollars and issue loans based on two criteria: how badly a construction project is needed and how much good it would do for the economy.

Mish: Will it be the same geniuses who were responsible for guaranteeing $535 million to a solar energy firm that is now bankrupt?

Obama: Pass this jobs bill, and thousands of teachers in every state will go back to work. These are the men and women charged with preparing our children for a world where the competition has never been tougher. But while they’re adding teachers in places like South Korea, we’re laying them off in droves. It’s unfair to our kids. It undermines their future and ours. And it has to stop. Pass this jobs bill, and put our teachers back in the classroom where they belong.

Mish: I have a better idea. Cut union pay and benefits and even more teachers will go back to work and at no expense to taxpayers.

Obama: The agreement we passed in July will cut government spending by about $1 trillion over the next ten years. It also charges this Congress to come up with an additional $1.5 trillion in savings by Christmas. Tonight, I’m asking you to increase that amount so that it covers the full cost of the American Jobs Act. And a week from Monday, I’ll be releasing a more ambitious deficit plan – a plan that will not only cover the cost of this jobs bill, but stabilize our debt in the long run.

Mish: Neither the president nor Congress has remotely done anything to stabilize the debt. In spite of promises, Obama will not do so a week from Monday. We will graciously call this lie number 6.

Obama: By eliminating pages of loopholes and deductions, we can lower one of the highest corporate tax rates in the world. Our tax code shouldn’t give an advantage to companies that can afford the best-connected lobbyists. It should give an advantage to companies that invest and create jobs here in America.

Mish: Hooray! The president finally put together an entire paragraph that makes sense.

Obama: And on all of our efforts to strengthen competitiveness, we need to look for ways to work side-by-side with America’s businesses. That’s why I’ve brought together a Jobs Council of leaders from different industries who are developing a wide range of new ideas to help companies grow and create jobs.

Mish: You do not need a jobs council. All you need to do is scrap Davis-bacon, kill prevailing wage laws, and pass a national right-to-work law.

Obama: I reject the idea that we have to strip away collective bargaining rights to compete in a global economy. We shouldn’t be in a race to the bottom, where we try to offer the cheapest labor and the worst pollution standards. America should be in a race to the top. And I believe that’s a race we can win.

Mish: While it is true we do not need to have the worst pollution standards in the world, but the president lumps all of these things together as if it is one big idea. When it comes to collective bargaining the president rejects common sense.

The US cannot afford a $447 billion boondoggle that will create zero lasting jobs, for no other purpose than to get the president reelected. If Congress has any sense, this proposal will be Dead-on-Arrival in the US house.

As an alternative, and as proposed previously in Bernanke's Waterloo; Midst of Deflationary Collapse or Brink of Inflationary Disaster? 12 Specific Recommendations here is an alternative set of stimulus proposals that will not cost a dime.

The basis for the following set of ideas is that throwing money at problems never solves a thing. We must first fix numerous structural problems immediately if there is any hope for this economy.

Twelve Specific Recommendations

Banks and bondholders should take a hit. Banks are not going to lend anyway so bailing them out at the expense of taxpayers is both morally and economically stupid. End the bailouts, all of them, and prosecute fraud, the higher up the better.
Implement serious bank reform now, not 9 years from now. Banks should be banks, not hedge funds. This proposal will necessitate breaking up banks. So be it.
Scrap Davis-Bacon and all prevailing wage laws. Such laws drive up costs and have wreaked havoc on many cities and municipalities, now bankrupt or on the verge of bankruptcy.
Pass national right-to-work laws. Once again, we need to reduce costs on businesses and local governments to spur more hiring and reduce costs.
End collective bargaining rights of all public unions. The goal of unions is to provide the least service for the most money. The goal of government should be to provide the most services for the least money.
Scrap ethanol policy and end all tariffs.
Legalize hemp and tax it. Prison costs will go down, tax revenue will grow, and biofuel and fiber research will expand as hemp produces very soft fibers.
Corporate income tax rates should be lower in the US than abroad. Current policy encourages capital flight and jobs flight via lower tax rates on profits overseas than in the united states. This penalizes businesses that work only in the US, especially small businesses that do not have an army of lawyers and lobbyists.
Stop the wars and set a plan to bring home all US troops from Iraq, Afghanistan, and 140 or so other countries.The US can no longer afford to be the world's policeman.
Implement Paul Ryan's Medicare voucher proposal. It is the only way so far that anyone has proposed that puts much needed consumer "skin-in-the-game" that will reduce medical costs.
Legalize drug imports from Canada
End the Fed and fractional reserve lending. Both have led to boom-bust cycles of ever-increasing amplitude.


Those are the kinds of things we need to do, not throw more money at problems. The latter does nothing but drive up national debt and interest on the national debt for short-term gratification.

Notice how counterproductive Fed policy is and how counterproductive Obama's policies are.

The Fed wants positive inflation but businesses have not been able to pass the costs on. Instead, companies outsource to China. Those on fixed income get hammered.

Fool's Mission

Obama wants to create jobs via stimulus measures. It's a fool's mission.

Prevailing wages drive up the costs, few are hired, and the cost-per-job (created or saved) is staggering. Money never goes very far because the US overpays every step of the way.

Stimulus plans that do not fix the structural problems are as productive as pissing in the wind. Then when the stimulus dies, which it is guaranteed to do, a mountain of debt remains.

Instead, my 12-point recommendation list will fix numerous structural problems, create lasting jobs, and reduce the deficit. What more can you ask?

Well one more thing: campaign finance reform is needed to stop the vote-buying of unions and corporations alike.

With that, I wish to reiterate "The primary purpose of the 447 billion dollar American Jobs Act is simple: To keep one person (namely President Obama), in his job."

If it works, it will be the most costly price paid per job created-or-saved in history (in more ways than one).

Mike "Mish" Shedlock
http://globaleconomicanalysis.blogspot.com