Musings on the Week
Musings on the Week
August 24, 2013
Common Sense – “.” James Madison.
Politics – Without Congress, Obama uses Executive Orders and regulations to implement policy, so the next President can repeal all these EOs and regulations as first official act.
Politics – The TEA Party will emerge in the months to come as a reinvigorated political power holding both Republicans and Democrats accountable for the results of their actions
Politics – The Republican National Committee banned CNN, MSNBC, and NBC from Presidential debates, so why not also exclude ABC and CBS based on their record of bias?
Media – The mainstream media bias is on full display in the non-coverage of the racist murder of Charles Lane in Oklahoma because he was white by two bored black teenagers.
Media – As new technologies emerge, I expect Twitter will go the way of telephone party
lines doomed by personal privacy issues and a lack of any viable business case.
Freedom – “A well-instructed people alone can be permanently a free people.” James Madison.
Economy – Health spending rose 14.7% from December 2007 to June 2013 while GDP grew 4.6% but, but GDP only grew 2.7% without healthcare, which was almost half the gain.
Budget – The Senate passed their first budget proposal in five years, so now Congress must craft a negotiated bill, negating need for Continuing Resolutions, or stop paying Congress.
Budget – Republicans plan to fund the federal government for all but ObamaCare and challenge President Obama to shutdown the government attempting to fund ObamaCare.
Deficit – The CBO reported a deficit of $1.087 trillion in fiscal year 2012, over $1 trillion for the fourth straight year, at a higher percentage of GDP than at any time since WWII.
Income – Incomes fell more in the year after the recovery started than it did during the recession itself, and household incomes have basically flat-lined ever since.
Taxes – Only 18 states and the District of Columbia still impose an estate tax resulting in a combined federal and state death tax rate now approaching 50%.
Welfare – Poor people are not stupid and if they can get more from the government by not working than they can from a job, they aren’t going to work (unintentional dis-incentive).
Energy – With the help of the private sector (fracking) and in spite of federal government interference, the U.S. should attain energy self-sufficiency in 20 years.
Education – The U.S. has become a global leader in education spending, while also a global laggard in student achievement, falling behind international peers in math and science.
Housing – The inventory of homes for sale has risen in many markets during the period of rising interest rates, but does not include the shadow inventory of foreclosed properties.
Deficit – I expect one or more states to declare bankruptcy and seek assistance to recover from the bad economic decisions of the past under federal judicial protection.
Housing – I expect that it will take four or more years at the current rate for the backlog of foreclosures to finally clear, before we see any signs of life of a robust housing recovery.
Liberty – “The happy Union of these States is a wonder; their Constitution a miracle; their example the hope of Liberty throughout the world.” James Madison.
Libya – The real story of Benghazi is the active White House cover-up of illegal international arms dealing funneling weapons to Syria through Turkey, supplying al-Qaeda jihadists.
Israel – I expect that Israel will be attacked by Hamas and the IDF will retaliate by invading and then re-annexing Gaza based on defensible borders and 1920 San Remo Conference.
Israel – I expect that Israel will suffer a nuclear attack from Islamist extremists, and Obama will talk a lot, but stand aside and refuse to help defend this longtime ally.
Asia – I expect that North Korea will attack South Korea and attempt to reunite Korea, and Obama will be “unable” to support our troops and will negotiate for a stalemate.