RTCS

Musings on the Week

Musings on the Week

October 19, 2013

 

Debt – Rather go to bed with out dinner than to rise in debt..” Benjamin Franklin.

Politics – Moody’s has stated “There is no direct connection between the debt limit and a default yet Obama still talks of the two as the same, since he can decide to default.

Politics – Fitch Ratings has warned that it may downgrade the U.S. AAA credit rating due to the ongoing debt ceiling impasse and lack of progress controlling deficit spending.

Politics – The TEA Party arose from the GOP establishment failure to restrain government spending so delinking the Tea Party is the same as delinking one of their core principles.

Politics – Republicans snatched defeat from the jaws of victory by surrendering at the last moment, refusing to call Obama’s default bluff, and just “kicking the can down the road.”

Politics – The biggest losers in the Debt Ceiling brinkmanship was Congress revealed as pampered, dysfunctional, and concerned far more for their own welfare than the nation’s.

Politics – The biggest loser in the government shutdown was Barack Obama who intentionally inflicted maximum pain on the voting public during the shutdown for political leverage.

Politics – The biggest winner in the Debt Ceiling brinkmanship was Ted Cruz, a principled conservative, defender of the Constitution, and the new leader of the Republican Party. Politics – The price of political payoffs has been revealed as $2+ billion for a Kentucky dam project to buy Mitch McConnell’s Senate support for Republican debt ceiling surrender.

Politics – In reality everyone lost in this federal shutdown / debt ceiling fight as approval ratings for the President, the Congress, and government in general fell dramatically.

Politics – What must not be forgotten is that Barack Obama and Harry Reid voluntarily caused the shutdown when they refused to negotiate with the House on any budget changes.

Politics – The “National Park Service” has behaved as the police wing of the DNC, expending more resources in closing open-air, unfenced areas than they expend keeping them open.

Politics – IRS: Lois Lerner, Sarah Hall Ingram, and Doug Shulman all collaborated with the White House to illegally share taxpayer information, so where are the indictments or arrests?

Politics – This week’s distractions from Obama’s disastrous policies are again: increase impact of the federal shutdown and search for anyone who signed up with ObamaCare.

Politics – Hillary Clinton accepted responsibility for State Department security shortfalls, but has not been held accountable and accepted blame for her inattention and ineptitude.

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.

Debt – Blessed are the young for they shall inherit the national debt.. Herbert Hoover.

Debt The Debt Ceiling kabuki dance includes catastrophe demagoguery, last minute fiscal deals, a short debt extension, and promises again to finally solve the fiscal problems this time.

Debt The Treasury has artificially capped the public debt in May to remain under the debt limit by “extraordinary measures” of halting investments in government retirement accounts.

Deficit The Obama administration brags about dropping the deficit, but this deficit is only dwarfed by the sequester-driven high deficit the Democrats produced the year before.

Finance The Federal Reserve Quantitative Easing Is supposed to be a temporary monetary program, but in reality it is “permanent” fixture of the liberal regime with no end in sight.

Taxes The nine states with no income taxes see more economic, population and job growth than the states with the highest income taxes such as New York and California.

Taxes The Treasury has paid out $4.2 billion to the families of 2.3 million illegal aliens, who took advantage of the Additional Child Tax Credit in their income tax returns.

Healthcare ObamaCare was haphazardly conceived, clumsily written, deviously passed and poorly executed - an unmitigated disaster of epic proportions and Americans know it.

Healthcare Democrats must pay their Astroturf supporters to pretend they like ObamaCare and are satisfied with the enrollment process despite being unable to sign-up themselves.

Healthcare The failure of the ObamaCare web site is strange, since eHealthInsurance.com has delivered this screening and enrollment service successfully since 1999.

Social Security The “Social Security Trust Fund” is a bookkeeping entry, not an economic asset that will be exhausted in 2033, at which time benefits will be cut approximately 23%.

Welfare In 1955, defense spending was 62% of federal outlays, and spending on welfare was 22%, but by 2012, the figures were reversed; welfare is now 66% and defense is 19%.

Housing ACORN Housing was defunded in 2009, but now renamed Affordable Housing Centers of America and its ex-leaders are helping guide federal affordable housing policies.

Environment The latest IPCC report increased its probability that humans caused global warming, while acknowledging that global climate change has flat-lined over past 16 years.

Environment Multiple flawed computer models have been used to turn fake climate science into good-looking science and bad statistics into powerful-looking evidence.

Education In every subject, from math and science to reading and social studies, homeschooled kids out-perform public school kids by 30 percentage points or more

Debt I expect that the country’s credit rating will be downgraded again when debt ceiling negotiations fail to cut spending enough to halt deficit spending.

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.

Debt – You cannot spend your way out of recession or borrow your way out of debt.Daniel Hannan.

Iraq – Less than two years later, the “outstanding success” earned by the military, including the 4,400 Americans who paid the ultimate price to achieve it, is being undone.

Libya – A year later after the Benghazi attack, no one has been brought to justice for the murders and no one in the administration has been held responsible for dereliction of duty.

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.

 

David Coughlin

Hawthorne, NY       

www.ReturnToCommonSensesite.com