Sunday, July 31, 2011
The video, titled "The Truth About the West Bank" – a brief historical narrative that tackles what Ayalon said is the "very simple question" of from whom Israel conquered the West Bank – has garnered nearly 120,000 hits on YouTube since it was uploaded some two weeks ago.
Friday, July 29, 2011
“If we don’t come to an agreement, we could lose our country’s AAA credit rating, not because we didn’t have the capacity to pay our bills -- we do -- but because we didn’t have a AAA political system to match our AAA credit rating,” Obama said at the White House.
Thursday, July 28, 2011
Wednesday, July 27, 2011
'"The fact that we are here today to debate raising America's debt limit is a sign of leadership failure. It is a sign that the U.S. government can't pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our government's reckless fiscal policies. ... Increasing America's debt weakens us domestically and internationally. Leadership means that 'the buck stops here.' Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership. Americans deserve better."'
This quote should be the Republicans campaign commercial.
Tuesday, July 26, 2011
Monday, July 25, 2011
Friday, July 22, 2011
Democrats Covering up the Fannie Mae, Freddie Mac and Economic Crisis The Fall of Fannie Mae Lessons from the Bailout
Hauser's LawCommunity Reinvestment Act What Does Fannie Mae Do? Press Briefing by the Clinton White House High Hopes Led to this Crisis Wall Street fat cats aren't at fault this time
The Rahn Curve and the Growth-Maximizing Level of Government
Does Stimulus spending work?
Can we balance the budget by raising taxes?
Are the poorer getting poorer?
Deficits, Debts and Unfunded Liabilities: The Consequences of Excessive Government Spending
European Levels of Taxation: Barack Obama's Tax Plan
In Defense of ‘The Rich’
Ten Myths about the Bush Tax cuts U.S. States Lead the World in High Corporate Taxes National Health Care? We’re Halfway There Tax Increases Reduce GDP The Truth about Tax Rates and the Politics of Class Warfare
Do facts matter? Is Capitalism on the Ropes? Penny Wise Politics Are facts obsolete? The vision of the left Destroying LibertyIt's the Spending, Stupid
Japan's Lost Decade
3rd Party Payer Programs
IMF: Canada's Health Care Unsustainable - Be Careful What You Wish For
The Federal Reserve Caused the Great Depression.
Causes of the Great Depression.
Obama Takes Stimulus to the People
From: "Larry Trout"
'Obama faced increasingly vocal complaints from his own Democrats on a deal-in-the-making that could mean painful curbs in popular health and retirement programs but no immediate increase in taxes.
"I've never seen frustration higher," Democratic Senator Dianne Feinstein said.
Negotiations between Republicans and the Democratic White House toward a deal to raise the $14.3 trillion limit on America's borrowing are at a critical phase, with less than two weeks before the world's biggest economy runs out of money to pay its bills.'
It would probably be more precise to say "with less than two weeks before the world's biggest economy cannot borrow money to pay its bills"
Thursday, July 21, 2011
'However, congressional Democrats were in a high state of alarm about talks they said were now leading toward a broad deficit-reduction deal that would not immediately include increased revenue. They said this would violate their pledge not to cut benefits for Social Security and Medicare recipients and require them to swallow a deficit-reduction plan that relies solely on spending cuts without raising taxes.'…
'In separate floor remarks, Sen. Charles E. Schumer (N.Y.), the third-ranking Democrat in the Senate, asked whether the United States would allow itself "to be driven into default and financial calamity by a small group of extreme right-wing ideologues in the House GOP."
'U.S. Ambassador to the United Nations Susan Rice this week issued a blistering rebuke of Russia, China and other countries that blocked the Security Council from adopting a statement linking the threat of climate change to international peace and security…
Moscow's was "skeptical" about efforts to have the council address climate change, Russian envoy Alexander Pankin said, according to Reuters.
"We believe that involving the Security Council in a regular review of the issue of climate change will not bring any added value whatsoever and will merely lead to further increased politicization of this issue and increased disagreements between countries," Reuters quoted him as saying.
India and Brazil, both temporary members of the council, also express reservations about getting the body involved.
The council "does not have the wherewithal to address the situation," Indian Ambassador Hardeep Singh Puri said, according to Reuters.'
Wednesday, July 20, 2011
Sunday, July 17, 2011
Thursday, July 14, 2011
Wednesday, July 13, 2011
'Paul: Do you think gold is money?
Bernanke: (pregnant pause) No.
It's not money?
It's a precious metal.
Even if it has been money for 6,000 years, somebody reversed that and eliminated that economic law?
Well, it's an asset. Would you say Treasury bills are money? I don't think they're money either, but they're a financial asset.
Why do central banks hold it?
Well, it's a form of reserves.
Why don't they hold diamonds?
Well it's tradition -- long-term tradition.
Well, some people still think it's money.'
'It is the eternal struggle between these two principles -- right and wrong -- throughout the world. They are the two principles that have stood face to face from the beginning of time, and will ever continue to struggle. The one is the common right of humanity and the other the divine right of kings. It is the same principle in whatever shape it develops itself. It is the same spirit that says, 'You work and toil and earn bread, and I'll eat it.' No matter in what shape it comes, whether from the mouth of a king who seeks to bestride the people of his own nation and live by the fruit of their labor, or from one race of men as an apology for enslaving another race, it is the same tyrannical principle.
-- Abraham Lincoln, October 15, 1858 Debate at Alton'
Tuesday, July 12, 2011
Yes, I just read the same article.
We do have low revenue compared to GDP, but this didn’t suddenly change because of the extension of the tax cuts.
It changed because of so many more people out of work, and the lower income of those working.
Most articles that quote the taxes at 15% of GDP leave out that spending is now at 25% of GDP.
We could also say ‘The last time
they were this low spending was this high , the first baby boomers were riding tricycles. Now, they’re collecting Social Security and Medicare.’
‘Combined with the effect of the economic slowdown, this decade long tax-cutting binge has decimated federal revenues, which currently stand at less than 15% of GDP.’
If the economy bounces back, we will return to about 17-18% revenue.
The question is, if it bounces back, will we return to spending of 20%.
In 2007 with the tax cuts the government took in 18.5% of GDP and spend 19.6%
In 2009 revenue went down by 3.3% of GDP, but spending went up by 5.4% of GDP.
"We all saw how it worked. The Administration carefully leaked to the media, without any details, the idea that it was willing to go along with trillions of dollars in spending cuts.
"The lack of detail concealed the fact that the savings they were supposedly willing to support was at best smoke and mirrors. The hope here was that the budget gimmicks and deferred decision-making they actually supported would have the appearance of serious belt-tightening.
"But the practical effect would have been at most about a couple of billion dollars in cuts up front with empty promises of more to follow. We've seen this kind of thing before. It's just this kind of sleight of hand governing that's put our nation more than $14 trillion in debt. And I will not associate myself with it. I refuse to join in an effort to fool the American people.'