What He Said.

RealClearMarkets – A Federal Budget That Insults All Budgets

The government has no resources. Everything it spends was created by private individuals and still belongs to taxpayers. All government can do is take from the industrious, the inventive, the hard-working and the frugal to dispense on the inefficient, the lazy, or the irresponsible. Government spending bites the very hand that feeds it.And these resources no longer exist. We’re now over $12 trillion in debt. Including future unfunded liabilities and those Washington assumed as a result of assorted bailouts and other mischief, the average family owes $471K and counting courtesy of government. The resources are gone.

Democrats wasted them on silly, self-defeating welfare programs and Republicans wasted them on silly, self-defeating foreign policies. Sometimes in fits of bipartisanship, they combined to waste them on even greater concepts. Government has no remaining resources, but to our peril it does have a printing press.

No matter what grandiose terms our elected leaders couch it under, there are only three ways to pay for this largesse. Certainly they can deprive productive enterprise of the resources necessary to generate economic growth via confiscatory taxes. But the disincentives ensconced in progressive taxation render it self-defeating. Washington can borrow, thus diverting capital from those endeavors actually prospering society. Another economic retardant. Or, they can inflate their way out of the mess by debasing our currency.

But remember; “Things appear to be the darkest just before they go completely black.”

It’s going to be like the 2008 crash. No one will see it coming until it’s here. Then it will seem obvious.

Yeah, it’s Bush’s fault. As well as every President since Herbert Hoover. We heard the story of killing the golden goose but never understood it.

Homeland Security Jobs At A Volunteer Fire Department?

More Executive Pork – Jamie Dupree on wsbradio.com

There is always a lot of talk about the Congress approving those dreaded ‘pork barrel’ items, which send taxpayer dollars to sometimes questionable projects in a certain state or city. But there isn’t much of a focus on pork doled out by the Executive Branch.For example, the Department of Homeland Security announced on Tuesday a series of grants for a dozen fire departments around the country, all funded by the economic stimulus law of last year.

“Secretary Janet Napolitano today announced more than $23 million in Fire Station Construction Grants (SCG) funded by the American Recovery and Reinvestment Act (ARRA)–designed to support the nation’s first responders while creating jobs and stimulating local economies,” read the DHS release.

Included are: Klamath County Fire District 1 (OR) – $4,997,804 and Gates Rural Fire Protection (OR) – $1,582,821

Those twelve projects total $24.47 million. There are thousands and thousands of more items like that which are funded by various federal agencies each year.

But compared to “Legislative Pork” – these projects get little attention in the news.

I would like to give more publicity to these kinds of decisions, but the various government agencies don’t make it easy. It’s something that probably needs a little more sunlight.

I wonder what kind of “jobs” are supposed to be created at a Volunteer Fire Department? Gates consists of a small store, a Mexican restaurant and a trailer park. The population is in the 2 digit range and the locally employed population is in the single digits.

Heck’ava Job Obama.

Obama unveils 2011 budget with $3.83T in spending

US deficit to hit record 1.56 trillion dollars in 2010

TaxProf Blog: President Obama’s Budget Contains $1.9 Trillion in Tax Increases

US consumer spending is weaker than expected in December

Construction spending drops sharply in December

US economic rescue failing to meet key goals:auditor

Conclusion: We Are So Screwed

The Only Surprise Here Is That The AP Analyzed And Reported It.

STIMULUS WATCH: Unemployment unchanged by projects – Yahoo! News

WASHINGTON – A federal spending surge of more than $20 billion for roads and bridges in President Barack Obama’s first stimulus has had no effect on local unemployment rates, raising questions about his argument for billions more to address an “urgent need to accelerate job growth.”

This Cannot Continue.

Hot Air » Chart of the Day



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If you read my posting about the relationship between the Public and Private sector you should be able to see right away why this cannot continue.In fact, if you have any Common Sense you should be able to see why this is unsustainable even if you have not read my posting.

You cannot pick a bucket up by the handle if you are standing in it, and you cannot sustain a government where there are more bureaucrats than there are producers.

We can’t keep borrowing or printing money, and with the Public sector being larger than the Private sector we cannot generate enough tax revenue to support the bureaucracy, especially if you throw in all the people who are getting subsidies from the government.

You would think this would be obvious, but I guess it’s not.

Good Old Fashioned Politics

Big Hollywood » It’s A Wonderful Bill

(with deep apologies to Frank Capra)

**************

Scene 14: Christmas Eve, inside Bedford Falls Town Hall. Senator George Bailey confronts an angry mob of constituents protesting his vote on the new health care bill.
MAN #1
Come on Bailey, you can’t hide forever! Let us in!

WOMAN #1
Yeah, what is this mandatory insurance nonsense? Stop cowering behind that podium George! We want answers!

crowd erupts into shouting

GEORGE BAILEY
Now now now, everybody calm down, see? If you’ll, well, see, just let me explain…

Read the whole thing.

Nice State You Have Here Governor; Be A Shame If Anything Happened To It.

Obama’s Transportation Secretary gives a straight answer — the seventh time he’s asked | Washington Examiner

Transportation Secretary Ray LaHood had to be asked the same question seven times in Friday’s House Budget Committee hearing before he would finally give a straight answer.

Rep. Scott Garrett, R-N.J., was grilling LaHood about a letter he had sent Arizona’s governor, after an Arizona Republican senator questioned the effectiveness of the stimulus package. The letter was widely viewed as a political threat in retaliation for criticism of the stimulus.

On July 12, Sen. Jon Kyl, R-Ariz., had suggested in a television interview that the stimulus should be cancelled, with the remaining unspent funds returned to the Treasury. LaHood, a former Republican member of Congress who joined Obama’s administration in January, responded the following day with a letter to Arizona’s Republican governor, Jan Brewer, effectively threatening to cut off some $521 million in Arizona projects funded by the stimulus package.

It doesn’t say whether LaHood was wearing a fedora and knocked some bottles off the counter when he said that.

He is an Illinois Republican. so he has no problem with the Chicago style of the Obama administration.

The American Ideal Is Dead! The Looting Commences

Soak the rich, legislative tax panel hears – Oregonlive.com

SALEM — ‘Tax the wealthy’ was the rallying cry as state legislators took up the contentious task of raising personal income taxes to shore up government services.The House Revenue Committee opened hearings Friday on four proposals that would create a new 10 percent tax bracket for higher earners, create a new alternative minimum tax, and reduce the amount all individuals could deduct in federal income taxes from their state tax returns.

Obviously the thing to do is to position yourself in a way to avoid being punished for earning more that the average.

That means forget about investing. Pull your money out of the market as soon as you can and convert it to something tangible and portable that the government can’t easily find.

If you’re in business shut down. If you don’t want to shut down, cut back to the bare minimum. Try to use only family members if possible. If not, keep only your best, most reliable employees. Keep the earnings below the cutoff for “rich”. Remember, they’re not looking to tax “wealth” they’re wanting to tax income. Which is not the same thing.

If you’re in government, try to get a position in one of the essential services. Police, Fire, Ambulance, Jail or ODOT. Those are going to continue no matter what. If you have no useful skills try to get in the Social Services. Those are going to continue. But there will probably be cuts. Suck up the right person and you might miss the cut.

From all indications the American experiment in self governance is over.