RTCS

Musings on the Week

Musings on the Week

November 9, 2013

 

Welfare – Welfare's purpose should be to eliminate, as far as possible, the need for its own existence.. Ronald Reagan.

Politics – It has been a disastrous couple of weeks for Obama with ObamaCare in a slow-motion train wreck, polls sinking, and even Jimmy Carter has called him incompetent.

Politics – Obama supporters are in an abusive relationship desperately hoping that things will get better, clinging fiercely to their man until they are battered by reality and snap out of it.

Politics – Even Obama’s crony capitalist buddies who bankroll his elections refuse to toe the line and must be punished, like JP Morgan with a $5.1 billion fine, to keep the rest in line.

Politics – The Obama legacy is a series of cover-ups: stimulus failure, Fast and Furious, IRS misuse, Benghazi attack, NSA spying, and now the ObamaCare lies.

Politics – This week’s distractions from Obama’s disastrous policies are: executive orders used to implement climate change and more blame-shifting for the ObamaCare rollout failures.

Politics – Hillary Clinton’s popularity is quickly dropping as people realize she is just another liberal politician, more of the same but without any redeeming values or accomplishments.

Politics – The Tea Party was created in response to the left’s ideological agenda based on deception that replaces common sense and sound economics with failed ideas of the past.

Politics – ObamaCare will represent both the acme and the beginning of the end of the delusion that government by special-interest collusion is a viable political system.

Politics - The RNC’s lack of support for Cuccinelli in Virginia’s Governor race sent a message that the GOP would rather lose, than support a candidate who upholds the party principles.

Politics – Chris Christie is great for New Jersey, but just another moderate at the national level and if the Republicans nominate him for President it will be the death of the national party.

Media – Obama made the false claim about keeping “your plan” and “your doctor in ObamaCare so many times, that it is best understood as a Weapon of Mass Deception.

lines doomed by personal privacy issues and a lack of any viable business case.

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.

Economy – The economy continued to limp along as the labor force continues to shrink, and has still not recovered back to the conditions that Obama faced when he was first elected.

 

November 2008

October 2013

Change

Annual Federal Spending

$2.87T

$3.52T

+$.65T

Total National Debt

$9.97T

$17.13T

+$7.16T

Food Stamp Participation (000)

30,800

47,800

+17,000

Labor Force Participation Rate

65.9%

62.8%

-3.1%

Employed (000)

144,100

143,568

+532

Employment Population Ratio

61.4%

58.3%

-3.1%

Unemployed (000)

10,538

11,272

+734

Unemployed - 27+ wks (000)

2,219

4,063

+1,844

Average Weeks Unemployed

18.9

36.1

+17.2

Unemployment Rate (U3)

6.8%

7.3%

+0.5%

Underemployment Rate (U6)

12.6%

13.8%

+1.2%

Inflation Rate

.1%

1.2%

+1.1%

Misery Index

6.9

8.5

+1.6

Average Price/Gallon Gas

$2.21

$3.66

+$1.45

Welfare – The black family survived centuries of slavery and generations of Jim Crow, but it has disintegrated in the wake of the liberals' expansion of the welfare state. Thomas Sowell.

EconomyThe Fed grew the balance sheet to a record $3.84 trillion ($2 trillion in T-Bills and $1.4 trillion in MBSs), any selloff will send prices down, yields up, and produce big losses.

Budget It has been 20 years since Congress passed all 12 appropriations bills separately and on time for new fiscal years, requiring continuing resolutions to fund ongoing operations.

Healthcare The Centers for Medicare and Medicaid Services, which runs the major health-care programs as well as the ObamaCare insurance exchange, spent $1.11 trillion in FY 2013.

Healthcare To be ObamaCare compliant, EVERY health plan (One Size Fits All!) MUST COVER 10 categories of MANDATED benefits:  ambulatory patient services; emergency services; hospitalization; maternity and newborn care; mental health and substance use disorder services, including behavioral health treatment; prescription drugs; rehabilitative and habilitative services and devices; laboratory services; preventive and wellness services and chronic disease management; and pediatric services, including oral and vision care.
Healthcare Americans are disillusioned with recurring website glitches and sticker shock of rising premium costs resulting in only 17% believing ObamaCare will have a positive impact.

Education Since Obama took office in 2009, the amount of outstanding federal student loan debt owed to the government has skyrocketed, increasing by 463% to $674 billion.
Civil Rights
The Employment Non-Discrimination Act (ENDA) is designed tell companies how they should run their business, who they should hire, and what they can and can’t believe.
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.

Welfare – We're at the crossroads. Down one road is a European centralized bureaucratic socialist welfare system in which politicians and bureaucrats define the future. Down the other road is a proud, solid, reaffirmation of American exceptionalism.Newt Gingrich.

Iraq Democrats refuse to learn from Vietnam, as they now make the same mistakes in Iraq: win the war militarily, withdraw U.S. troops, then withhold ongoing aid as the nation falls.

Libya – It has been over a year since the attack in Benghazi and we still don’t know who did what, who failed in their duty, and who should be accountable for abandoning our people.

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