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Just returned from a week vacation at Litchfield Beach with three dear couples from our former neighborhood days. Weather was lousy but just being with old friends brightens the dreariness of rainy , stormy days at the beach.
While there I celebrated number 79 and I am posting a lot of e mails I received from my fellow memo readers. I kept abreast of the market and some of the news but restricted my reading to items I brought with me.
Before leaving I wrote something entitled: "A CONSERVATIVE OFFERS SOME ELEVEN LESSONS FOR AMERICAS' YOUTH - BORN AND YET TO BE BORN!"
I do not know what I will do with it but I have asked my very artsy oldest granddaughter to illustrate them. I am thinking of offering my missive for sale and sending half the proceeds to The Wounded Warriors!
These eleven lessons are not meant to be the totality of what I have learned and tried to pass on to my own kids but they are the more critical ones.
One thing I have learned. When government can tax your labor and then proceeds to pass laws that serve the sole purpose (whether intended or not) of further enslaving you, two things will ultimately happen: a) Citizens will revolt and b) The society will fail.
The British Commentator" returns to discuss the ass-whooping, the Seal Team 6 put on OBL, and the aftermath. The last minute is hilarious. This guy is good. Gotta love this Brit.
http://dotsub.com/view/26655849-5998-4895-ac4e-3a073a16f639
http://dotsub.com/view/26655849-5998-4895-ac4e-3a073a16f639
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A banker whose thoughts you can bank on. (See 1 below.)
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Count the ways, stealth and 'curl' up but do not go to sleep or 'deKlein' to read this! (See 2, 2a, 2b and 2c below.)
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Let's go for another round of intoxification! (See 3 below.)
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Is there a sensible, constructive and humane way to lift those on the bottom without crushing them and/or making them even more dependent? (See 4 below.)
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Leon Cooperman was a former big wig at Goldman and he has some interesting observations that are worth reading. (See 5 below.)
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Let's go for another round of intoxification! (See 3 below.)
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Is there a sensible, constructive and humane way to lift those on the bottom without crushing them and/or making them even more dependent? (See 4 below.)
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Leon Cooperman was a former big wig at Goldman and he has some interesting observations that are worth reading. (See 5 below.)
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Dick
------------------------------------------------------------------------------------------------------------------------------------1)DECKER: 5 Questions with BB&T’s John Allison
‘It’s easier for government to control a few large institutions’
By Brett Decker
John A. Allison is the former chairman and CEO of BB&T Corporation, where he started working in 1971. Under Mr. Allison’s leadership, BB&T grew from $4.5 billion in assets to $152 billion, becoming America’s 10th largest financial services company and earning the bank’s chairman a spot on Harvard Business Review’s list of top 100 most successful CEOs in the world. Currently a distinguished professor at Wake Forest University’s School of Business, Mr. Allison is also a leader for Job Creators Alliance, a group of entrepreneurs who promote pro-growth policies to support small business. You can find out more at jobcreatorsalliance.org.
Decker: You told me you couldn’t create your company in today’s environment. That’s quite a startling statement about such a successful business. Why not?
Allison: BB&T grew through local decision-making and personalized service focused on small businesses and the middle market. The current regulatory environment not only imposes extraordinary cost on smaller financial institutions, it makes it difficult to treat each customer as a special individual. Personalized service is now considered by the regulators to be “disparate” treatment. Small-business lending is part science and part art. It is extraordinarily difficult to execute a personalized value proposition with bank examiners micromanaging every decision.
Decker: Banks are used as whipping boys to impute blame for the collapse of the housing market, but government played a central role in the mortgage crisis. Can you explain how Washington intervention manipulated the market with such disastrous results?
Allison: Government policy is the primary cause of the financial crisis. The Federal Reserve “printed” too much money in the early 2000s to avoid a mild recession, which led to a massive misinvestment. The misinvestment was focused in the housing market due to the affordable housing (subprime) lending policies imposed by Congress on the giant Government Sponsored Enterprises (Freddie Mac and Fannie Mae), which would never have existed in a free market. When Freddie and Fannie failed, they owed $5.5 trillion and had $2 trillion in subprime loans. Because Freddie/Fannie had such a dominate share of home-mortgage lending in the United States (75 percent), they drove down the lending standards for the whole industry.
Decker: Government regulation is spurring a massive consolidation in the financial-services industry in which some institutions are deemed “too big to fail.” Doesn’t this empower the federal bureaucracy more than ever? What are the consequences of such a centralizing dynamic in this important sector?
Allison: If you want to centrally manage an economy, control the allocation of capital. Dodd-Frank is a dramatic move toward statism (i.e., crony socialism) as government bureaucrats can practically decide which industries, companies and consumers have available credit. Dodd-Frank encourages more consolidation in the banking industry and instead of eliminating “too big to fail,” makes this practice a permanent public policy. It is easier for the centralized government authorities to control a few large institutions than many small companies.
Decker: As it stands, Obamacare will foist untold costs onto the backs of U.S. businesses and taxpayers. There is a debate over whether it can be fixed by tinkering with some elements of it while keeping large chunks of the law. What’s your view of this policy and the greater context of the expanding dependency state in this country in relation to national competitiveness?
Allison: Obamacare should be completely repealed. It will materially raise health care costs and result in federal administrators rationing care. We need to totally privatize medical care for those under 45, which will re-introduce price competition into medicine. It is important to realize that when Medicare (the predecessor to Obamacare) was introduced, the U.S. health care system was far more efficient and at least as fair as today. The health care system had not failed. Medicare was introduced to “buy” votes for the Democratic Party, as the first Medicare participants received a huge subsidy and voted accordingly. Unless there is a radical overhaul, Medicare/Medicaid/Obamacare will ultimately bankrupt the United States. (We will need to continue to subsidize current Medicare participants and those over 45 who are locked into the system.)
Decker: The Obama administration talks an awful lot about an economic recovery, yet the unemployment rate is still high, record numbers of Americans are on food stamps and the national debt continues to mount. What does such an anemic recovery say about the real state of our economy?
Allison: This is the slowest recovery in U.S. history. We have almost 5 million less jobs than when the recession began, despite running massive government deficits. Destructive public policy is the cause of this failed recovery. There has been a massive increase in regulatory oversight reducing productivity gains and stifling innovation. Also, business leaders know our current fiscal policies are unsustainable and yet there is not a meaningful plan to deal with this issue. While businessmen do not want to personally pay higher taxes, at a deeper level, they know that increasing taxes on millionaires is not a serious solution to our massive deficits. They want to see a credible plan to radically reduce government expenditures and roll back the regulatory state, thereby returning the U.S. government to financial stability. Entrepreneurs want a return to limited government, individual rights and free markets. Until they see this trend, business leaders, who are the job creators, will be hesitant to invest.
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2)THE MAN WHO WOULD BE DICTATOR
How do I hate Barack Obama? I might spin Harriet Barrett Browning’s immortal words and say, “Let me count the ways. I hate him to the depth and breadth and height my soul can reach.” But even that doesn’t quite cover the contempt I have for this past and present community agitator.
Fifty long years after Martin Luther King suggested we judge a person by his character, this slug is still waging race warfare. While we are all well-aware that he is basing his entire re-election campaign on separating Americans and playing to wealth envy, religious differences and even engendering gender divisions, it is his insistence on stoking up racial hatred that makes him the archenemy of everything decent that America represents.
Only Obama would have made the openly racist Eric Holder his attorney general. Only Obama would have remained silent when Holder refused to indict the Black Panthers for voter intimidation. Only Obama would have said that Trayvon Martin reminded him of the son he never had.
On the other hand, only Obama would have remained silent when his cohorts, Al Sharpton and Jesse Jackson, converged on Sanford, Florida, and incited the black mobs to demand George Zimmerman’s bloodied head on a platter. Only Obama would have prevented his Department of Justice from demanding that the Black Panthers be indicted for offering a bounty on young Mr. Zimmerman, dead or alive.
Only Barack Obama would encourage his re-election team to connect Mitt Romney to polygamy when it was Obama’s own Kenyan father who was still a married man when he tied the knot with Obama’s mother. Of course it soon turned out to be a slip-knot when the bigamist scurried back to Africa, leaving wife number two and child behind.
Only Barack Obama would encourage his re-election team to tar Romney for having conveyed the family dog on his car’s rooftop, which was not only safe, but provided the dog with all the wind in his face that every dog craves, when, by his own admission, young Obama had dined on dog. Which in certain civilized circles, is comparable to cannibalism.
According to his book, “Dreams From My Father,” Obama’s stepfather, Lolo Soetoro, belonged to a brand of Islam that believed that a man took on the powers of whatever he ate. One can’t help wondering if in his dreams, Obama chases cats.
Although in 2008, Harry Reid boasted that Obama doesn’t speak like a black man and Joe Biden topped him by alerting us to the fact that Obama is clean, the silliest thing anyone ever thought to say about him is that he’s a genius. I’m not even alluding to his contention back in ‘08 that he had visited 57 states and only had one more to go, or his references to the Austrian language and the U.S. Marine Corpse. But I am suggesting that for a man who regards diplomacy as his strong suit, telling the presidents or prime ministers of Denmark, Norway, the Philippines, Ireland and Holland, that their little nations all “punch above their weight,” indicates that he has either let his membership in the Cliché of the Month Club lapse or that he has hired a very lazy relative to be his speechwriter.
Lest anyone think those gaffes are the exception to the rule, Obama has also announced on 11 different occasions that the United States has no stronger ally than Australia, Poland, Great Britain, Germany, Denmark, South Korea, Israel, Holland, France, Italy and Japan. Frankly, I think he is showing undiplomatic favoritism to Holland and Denmark by telling the world that they are not only our strongest allies, but that they also punch above their weight.
Would someone who is even slightly brilliant tell 11 different countries that they are his very favorite? Does he really think that these countries don’t talk to each other, even if it’s not in Austrian? Doesn’t it even occur to Mr. Tact that Germany and France are always on the verge of a major spat without anyone’s needlessly provoking a cat fight? Doesn’t he realize that a young woman who carried on the way he does would be referred to as the town slut?
Finally, as if any additional evidence were required to prove that Obama is only the smartest man in the room when he’s standing in a very small closet, during his highly trumpeted visit to the Summit of the Americas, he tried to show himself on the side of Argentina when he referred to the Falkland Islands as the Malvinas. That happens to be the Argentine name for the British crown colony they have long coveted, and over which Margaret Thatcher, with Ronald Reagan’s blessing, went to war.
This is the same Argentina that recently showed its dedication to democratic ideals by nationalizing the nation’s largest oil company and banning foreign books.
But, as is his wont, Obama displayed his vaunted brilliance by calling them the Maldives, which is an actual group of islands, but one that’s located in the Indian Ocean, not the Atlantic, and is nowhere near Argentina.
So, at one fell swoop, Obama not only stabbed the Brits in the back, but made America an even bigger laughing stock than the horny Secret Service agents had done by turning Hotel El Caribe into the most infamous brothel in the world.
As if it’s not bad enough that we are constantly told that Obama’s IQ is too high to be accurately measured, his wife recently told a crowd in Nashville, Tennessee: “This president has brought us out of the darkness and into the light.”
If one is to believe certain eyewitness reports, as the collection plate was being passed among the Obama faithful, the blind could suddenly see, the lame got up and tap-danced and the dead all registered as Democrats.
2a)American Spectator’s Tyrrell: Obama a 'Stealth Socialist'
R. Emmett Tyrrell, the founder and editor in chief of The American Spectator magazine, tells Newsmax TV that President Barack Obama is not a liberal, but rather a new breed of politico that he describes as a “stealth socialist.”
The best-selling author and syndicated columnist also declares in an exclusive interview on Friday that liberalism is dead in America and that Obama defeated the last vestiges of a liberal movement he calls the “infantile leftists” in his 2008 victory over then Sen. Hillary Clinton.
“He is not a liberal. I mean he beat the last infantile leftist — Hillary Clinton,” insists Tyrrell. He says Clinton’s 1960s tax-and-spend generation — including Al Gore, and even Clinton’s husband — produced the worst leadership in the Democratic Party in 100 years.
In some ways, the death of liberalism can be ruled a suicide, according to Tyrrell. “Because the infantile left took over the Democratic party in 1972,” he said. “They took over the party and they did what they always do. They overreached, and in overreaching, they’ve spent extravagantly.”
He points to poll results from Gallup and other organizations that show a growing number of Americans now identify themselves with the conservative movement.
“There’s no sign of life in liberalism. It steadily declined over the last 30 years 'til it was down to 20 percent of the American people, whereas conservatism has steadily grown in size with the American people until it’s up to 42 percent,” he explained. “Thirty percent of American people are independent.”
Moreover, Tyrrell said independents voted Republican in 2010, giving the GOP control of the House. “It’s going with us in 2012 and it makes it very clear that liberalism is kaput. However, the stealth socialist is alive.”
Author of the new book, “The Death of Liberalism,” Tyrrell believes that Obama is even more dangerous as a stealth socialist than an infantile leftist. “He even spent more than they did. And that’s why I consider the future is with us — because the conservatives have a solution to this problem of overreaching, overspending, and that is [Rep.] Paul Ryan’s budget.”
Following the 2008 election, liberals rang up additional trillion-dollar deficits that can’t be solved by more spending and higher taxes.
“That’s all they’ve ever done. I mean that’s what they did. And that’s what the stealth socialist does. And those policies are dead,” Tyrrell insisted. “I mean we can’t take on more budgetary excess in this country. We simply can’t do it, and the bond markets are going to rebel.”
As a result, he said, liberalism is “kaput” and, “I think that Barack Obama is going to be sent to ... Illinois come this fall.”
Recent polls show presumptive GOP presidential nominee Mitt Romney overtaking Obama in the all-important swing states.
“Obama is going to be beaten but a more careful look at the polls shows that in the swing states, he’s going to be beaten by 5 to 10 percent,” according to Tyrrell. “There’s a rising movement in the country — the tea party movement — and that’s a very healthy movement. It’s interested in American constitutionalism and it’s terrified by this over-extension of the budget.”
He said that conservatism fell on hard times after President Franklin D. Roosevelt’s New Deal programs were adopted following the 1929 stock market crash that triggered the Great Depression.
“Conservatism has been rising for 30 or 40 years. It came from almost no place but that’s because any vestige of it was eliminated by the New Deal,” he said. “It had a long way to go. And it’s come a long way.”
2b)CURL: Team Obama panics, and it’s only May
ANALYSIS/OPINION:
Discussing his book “The Amateur: Barack Obama in the White House” during a Wednesday appearance on Sean Hannity’s Fox News show, Klein said the bribery allegation came during a 2011 interview with the controversial Wright that Klein conducted and videotaped.
In that interview Wright “was throwing Barack Obama down the stairs,” Hannity observed. “I am going to play this first tape here, where basically he is offered money through a third party to basically shut up and not speak until the November election.”
On the tape, Wright says: “He offered me money not to preach at all between the explosion of the media in the first week in March and [the] November election.”
Hannity said: “In other words, is it an offer for an in-kind donation to buy the silence of somebody that could hurt his campaign? . . . And why is he saying it now? Why is he suggesting that they tried to buy his silence in 2008?”
Klein: “Because he feels that he has been turned by the Obama campaign into a pariah.”
In another portion of the taped interview, Wright states that Obama himself asked the pastor not to do any more public speaking until the election.
Klein told Hannity, as he writes in his book, that Obama asked for a private meeting with Wright about a week after Obama’s speech on race in Philadelphia in March 2008. At that meeting, Klein recalls, Obama says “the trouble with you, Reverend, is that you have to tell the truth. And the Reverend Wright says to him, 'That’s not bad trouble to have, Mr. Obama.'”
After Hannity played the video clip of the conversation, he said: “Wow. So in other words he is basically saying I don’t have to tell the truth.”
Klein: “That’s right.”
Hannity: “So basically Reverend Wright is telling the world right now ... that Barack Obama is a liar.”
Klein: “That’s right.”
As for the title of his book “The Amateur,” Klein said he wants the American people to know about Obama that “this guy is temperamentally unsuited for the job of president.
“You look at Lyndon Johnson, he couldn't give a good speech. He couldn't read from the teleprompter, but he understood how to work the levers of power in Washington. Barack Obama is a wonderful speechifier, lovely guy. In front of the teleprompter, looks good, great tie. He has no idea how to work Washington. And he doesn't really have any interest in it, either.”
"We have an election that I think is going to define the future of the company," Cooperman tells CNBC's "Squawk Box."
"I want a Republican sweep. I'm not sure what's worse, a Democratic sweep or divided government. Everybody says divided government is good, but I think we need decisions to be made and these folks can't seem to make decisions," says Cooperman, who grabbed headlines in late 2011 when he published an open letter to President Barack Obama, accusing the president of fueling class warfare.
Today, the nation is lacking leadership and partisan bickering gets in the way of policy and needed reforms.
"I'm on the republican side, not all the time, in this particular case, to be honest with you we need a unified government, we need basically decision making and we need leadership," Cooperman says.
"Right now in the current system, these guys don't talk to each other. It's a real problem."
The economy continues to drag on President Obama's popularity.
A recent Gallup poll finds Obama's approval rating has fallen to 47 percent while satisfaction with the direction of the country is only at 24 percent.
"President Obama is running for re-election with Americans feeling about as dissatisfied with the country and the economy as they were in 1992 when George H.W. Bush lost," Gallup reports.
"However, with a modest 47 percent job approval average in early May, his approval rating is nearly the same as in 2004 when George W. Bush won."
ANALYSIS/OPINION:
It’s mushroom cloud after mushroom cloud for President Obama.
We’ll never see the internal polls, but the externals are awful: Down 8 percent to challenger Mitt Romney in the latest poll, with fewer than 180 days; disillusioned college kids, independents and the white working-class fleeing in droves. Even the barber-shops boys are mocking their Man. Makes sense that in Chicagoland, Obama Central, the internals they’re seeing are even worse.
Which explains this past week. Joe “Blunderbuss” Biden on May 6 blurts out that he’s totally cool with gays marrying. Mushroom cloud. Release the hounds: The vice president is at odds with the president. Monday, the White House slow-plays it (with spokesman Jay “Talking Points” Carney finally fully filling his role as Chief Buffoon). Tuesday, a fierce press corps demanding answers (ABC’s Jake Tapper gets his Underoos all in a wad.) Chief Buffoon repeating over and over, no change — until there’s a change. Oh, and North Carolina just happens to be busy voting down gay marriage.
Wednesday, the president suddenly announces a sit-down (with a friendly reporter, of course), and, oh boy, he’s gotta answer the gay marriage question now! (Or Jakewill really come at him.) The president does! He’s for it! (But let the states decide — bold new territory, except former Vice President Dick Cheney said the same thing three years ago.) The Associated Press says president has set a “world precedent.” And Thursday, off to Hollywood to party at George Clooney’s house (tears of joy wept for the smartest president ever). At the weekend, Mr. Obama and Mr. Biden celebrate with a round of golf.
The whole thing was (say it with me) — a setup. Send Joe out — he’s a goof, he might misspeak, who knows? — and then play it for all its worth. Work it for the week — the press will go along. Jobs? The economy? Please. We’ve got to get to the bottom of this gay marriage thing!
But even that bodes ill: The big brains on the yellow couches in the Oval Office are busy coming up with ways to distract from the economy by pandering to the most liberal people in America. They must’ve concluded they don’t have much else. Can they do it every week, for the next six months? Panic. Desperation.
By the way, why is it that when a Republican changes his mind, based on life experience, learned wisdom, he’s a “flip-flopper,” but when a Democrat changes his mind — opposes gay marriage, as Mr. Obama did, then takes no stance (politics), then suddenly supports it — he has “evolved”? You can look it up: the president has completely flip-flopped; still, it’s an “evolution,” according to the MSM.
Which brings us back to Wednesday, when ABC led the evening newscast with — no, not Mr. Obama’s flip-flop, but a report that Mr. Romney was mean to a kid 48 years ago when he was at boarding school. Seems the kid looked different — long blond hair — and Mitt and the boys dropped him, sheared the locks. Sure, a prank — or was Mr. Romney a homophobe, persecuting what The Washington Post said was a “presumed” gay student?
Now, Team Obama is known for sifting through the sordid pasts of every candidate it has faced: In fact, it’s the only way he won two races in Illinois, one for the Statehouse, one for U.S. senator. But here, in May, via The Washington Post, are they really going through the high school days of their coming opponent? Mr. Obama was fond of blowing a doob in college, but that’s not an issue. Mitt being mean to another boy nearly five decades ago? Smacks of desperation.
And it’s only May. Mr. Obama is already behind — well behind, according to the most accurate pollster from 2008 — and panicking. Worse, the enthusiasm of the base is dwindling. Kicking off his 2012 campaign, Mr. Obama played to empty seats in Ohio. What was a revolutionary movement four years ago is now just another callow political campaign, with the candidate willing to say whatever it takes to win supporters. Worse, the kids who supported him last time are bored.
The gay marriage move will, eventually, prove to be a major miscalculation. Trying to shore up the liberal and college vote — pushing the college-loan thing apparently was not enough — Mr. Obama just bolstered his opponent among Christians: Even as a Mormon, he might line up better with Christians who oppose gay marriage. There goes North Carolina, and maybe Virginia, too. Sure, Hollywood is more jazzed, but it will turn out not to be worth it: He just lost more votes than he gained.
However it plays out, the panic and desperation of Team Obama is palpable. And for the incumbent president to be forced to pander so cravenly to his base less than six months from Election Day: They definitely know something we don’t yet know — and it isn’t good.
• Joseph Curl covered the White House and politics for a decade for The Washington Times. He can be reached at jcurl@washingtontimes.com.
2c)Author Klein: Obama Tried to Bribe Rev. Wright Into Silence
Best-selling author Ed Klein is out with a new book that levels a blockbuster charge against Barack Obama: The then-presidential candidate tried to bribe the Rev. Jeremiah Wright to buy his silence during Obama’s 2008 campaign.
Discussing his book “The Amateur: Barack Obama in the White House” during a Wednesday appearance on Sean Hannity’s Fox News show, Klein said the bribery allegation came during a 2011 interview with the controversial Wright that Klein conducted and videotaped.
In that interview Wright “was throwing Barack Obama down the stairs,” Hannity observed. “I am going to play this first tape here, where basically he is offered money through a third party to basically shut up and not speak until the November election.”
On the tape, Wright says: “He offered me money not to preach at all between the explosion of the media in the first week in March and [the] November election.”
Hannity said: “In other words, is it an offer for an in-kind donation to buy the silence of somebody that could hurt his campaign? . . . And why is he saying it now? Why is he suggesting that they tried to buy his silence in 2008?”
Klein: “Because he feels that he has been turned by the Obama campaign into a pariah.”
In another portion of the taped interview, Wright states that Obama himself asked the pastor not to do any more public speaking until the election.
Klein told Hannity, as he writes in his book, that Obama asked for a private meeting with Wright about a week after Obama’s speech on race in Philadelphia in March 2008. At that meeting, Klein recalls, Obama says “the trouble with you, Reverend, is that you have to tell the truth. And the Reverend Wright says to him, 'That’s not bad trouble to have, Mr. Obama.'”
After Hannity played the video clip of the conversation, he said: “Wow. So in other words he is basically saying I don’t have to tell the truth.”
Klein: “That’s right.”
Hannity: “So basically Reverend Wright is telling the world right now ... that Barack Obama is a liar.”
Klein: “That’s right.”
As for the title of his book “The Amateur,” Klein said he wants the American people to know about Obama that “this guy is temperamentally unsuited for the job of president.
“You look at Lyndon Johnson, he couldn't give a good speech. He couldn't read from the teleprompter, but he understood how to work the levers of power in Washington. Barack Obama is a wonderful speechifier, lovely guy. In front of the teleprompter, looks good, great tie. He has no idea how to work Washington. And he doesn't really have any interest in it, either.”
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3)Obama's Second Term Transformation Plans
By Steve McCann
The most significant accomplishment of Obama's first term is to make Congress irrelevant. Under the myopic and blindly loyal leadership of Harry Reid and Nancy Pelosi, the Democrats have succeeded in creating an imperial and, in a second term, a potential dictatorial presidency.
The 2012 election has often been described as the most pivotal since 1860. This statement is not hyperbole. If Barack Obama is re-elected the United States will never be the same, nor will it be able to re-capture its once lofty status as the most dominant nation in the history of mankind.
The overwhelming majority of Americans do not understand that Obama's first term was dedicated toputting in place executive power to enable him and the administration to fulfill the campaign promise of "transforming America" in his second term regardless of which political party controls Congress.That is why his re-election team is virtually ignoring the plight of incumbent or prospective Democratic Party office holders. He has made Congress irrelevant.
During the first two years of the Obama administration when the Democrats overwhelming controlled both Houses of Congress and the media was in an Obama worshipping stupor, a myriad of lawswere passed and actions taken which transferred virtually unlimited power to the executive branch.
The birth of multi-thousand page laws was not an aberration. This tactic was adopted so the bureaucracy controlled by Obama appointees would have sole discretion in interpreting vaguely written laws and enforcing thousands of pages of regulations they and not Congress would subsequently write.
For example, in the 2,700 pages of ObamaCare there are more than 2,500 references to the Secretary of Health and Human Services. There are more than 700 instances when he or she is instructed that they "shall" do something and more than 200 times when they "may" take at their sole discretion some form of regulatory action. On 139 occasions, the law mentions that the "Secretary determines." In essence one person, appointed by and reporting to the president, will be in charge of the health care of 310 million Americans once ObamaCare is fully operational in 2014.
The same is true in the 2,319 pages of the Dodd-Frank Financial Reform Act which confers nearly unlimited power on various agencies to control by fiat the nation's financial, banking and investment sectors. The bill also creates new agencies, such as the Consumer Financial Protection Bureau, not subject to any oversight by Congress. This overall process was repeated numerous times with other legislation all with the intent of granting unfettered power to the executive branch controlled Barack Obama and his radical associates.
Additionally, the Obama administration has, through its unilaterally determined rule making and regulatory powers, created laws out of whole cloth. The Environmental Protection Agency on a near daily basis issues new regulations clearly out of their purview in order to modify and change environmental laws previously passed and to impose a radical green agenda never approved by Congress. The same is true of the Energy and Interior Departments among many others.
None of these extra-constitutional actions have been challenged by Congress. The left in America knows this usurpation of power is nearly impossible to reverse unless stopped in its early stages.
It is clearly the mindset of this administration and its appointees that Congress is merely a nuisanceand can be ignored after they were able to take full advantage of the useful idiots in the Democrat controlled House and Senate in 2009-2010 and the Democrat Senate in the current Congress.
Additionally, Barack Obama knows after his re-election a Republican controlled House and Senate will not be able to enact any legislation to roll back the power previously granted to the Executive Branch or usurped by them. His veto will not be overridden as there will always be at least 145 Democratic members of the House or 34 in the Senate in agreement with or intimidated by an administration more than willing to use Chicago style political tactics.
The stalemate between the Executive and Legislative Branches will inure to the benefit of Barack Obama and his fellow leftists.
The most significant power Congress has is the control of the purse-strings as all spending must be approved by them. However, once re-elected, Barack Obama, as confirmed by his willingness to do or say anything and his unscrupulous re-election tactics, would not only threaten government shutdowns but would deliberately withhold payments to those dependent on government support as a means of intimidating and forcing a Republican controlled Congress to surrender to his demands, thus neutering their ability to control the administration through spending constraints.
Further, this administration has shown contempt for the courts by ignoring various court orders, e.g. the Gulf of Mexico oil drilling moratorium, as well as stonewalling subpoenas and requests issued by Congress. The Eric Holder Justice Department has become the epitome of corruption as part of the most dishonest and deceitful administration in American history. In a second term the arrogance of Barack Obama and his minions will become more blatant as he will not have to be concerned with re-election.
Who will be there to enforce the rule of law, a Supreme Court ruling or the Constitution? No one. Barack Obama and his fellow-travelers will be unchallenged as they run roughshod over the American people.
Many Republicans and conservatives dissatisfied with the prospect of Mitt Romney as the nominee for president are instead focused on re-taking the House and Senate. That goal, while worthy and necessary, is meaningless unless Barack Obama is defeated. The nation is not dealing with a person of character and integrity but someone of single-minded purpose and overwhelming narcissism. Judging by his actions, words and deeds during his first term, he does not intend to work with Congress either Republican or Democrat in his second term but rather to force his radical agenda on the American people through the power he has usurped or been granted.
The governmental structure of the United States was set up by the founders in the hope that over the years only those people of high moral character and integrity would assume the reins of power. However, knowing that was not always possible, they dispersed power over three distinct and independent branches as a check on each other.
What they could not imagine is the surrender and abdication of its constitutional duty by the preeminent governmental branch, the Congress, to a chief executive devoid of any character or integrity coupled with a judiciary essentially powerless to enforce the law when the chief executive ignores them
Conservatives, Libertarians, the Republican Party and Mitt Romney must come to grips with this moment in time and their historical role in denying Barack Obama and his minions their ultimate goal. All resources must be directed at that end-game and not merely controlling Congress and the various committee chairmanships.
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4)Paul Ryan Schools Georgetown on How to Help the Poor
On April 26, House Budget Committee Chairman Paul Ryan delivered the 2012 Whittington Lecture at Georgetown University focused on his 2013 budget and its implications for poverty programs and the poor. That budget has now passed the House of Representatives.
Ryan addressed the Catholic institution "as a Catholic holding public office" trying to conform his work to Catholic "social doctrine as best I can make of it." He presented a vision that would be far more effective in helping the poor than current federal policies that have prevailed for decades. Georgetown is to be congratulated for giving him a high profile platform for presenting that vision. But too many among the faculty and students indicated that they were not interested in even listening to any new vision or policies, preferring to stick doggedly to the cutting edge ideas of 1935.
Ryan was greeted by a 50 foot banner asking the illuminating question, "Were you there when they crucified the poor?" That was accompanied by a letter from nearly 90 members of the faculty that already condemned his budget as a plan that "decimates food programs for struggling families, radically weakens protections for the elderly and sick, and gives more tax breaks for the wealthiest few." But Ryan's budget doesn't do anything like that, and the faculty members should have been ashamed to attach their names to a document reflecting political rhetoric and cheap party talking points rather than a serious discussion of the issues.
The letter continued with the same mindless political rock throwing, saying, "In short, your budget appears to reflect the values of your favorite philosopher, Ayn Rand, rather than the gospel of Jesus Christ." Jesuit Father Thomas J. Reese intoned with prideful self-importance, "Our problem with Representative Ryan is that he claims his budget is based on Catholic social teaching. This is nonsense. As scholars, we want to join the Catholic bishops in pointing out that his budget has a devastating impact on programs for the poor."
But in his lecture Ryan demonstrated a far superior grasp of both Catholic social teaching and federal poverty policies than any of the 90 letter signers, none of whom displayed even a rudimentary understanding of his budget or that any of them had ever even cracked open Ryan's budget document, "A Path to Prosperity."
William McGurn accurately summarized Ryan's Georgetown critics in the May 1 Wall Street Journal, writing:
"So the Sermon on the Mount now becomes a call for a single-payer system of universal health insurance. In this worldview, those who believe otherwise, i.e. those who argue that you best help the poor by breaking down barriers to ownership and opportunity -- are not simply mistaken. They are selfish and uncaring....[Ryan's critics] assume only one possible interpretation of Catholic social teaching: their own."
Ryan began his lecture by explaining that civil public dialogue goes to the heart of the catholic principle of solidarity, "the virtue that does not divide society into classes and groups but builds up the common good of all." Then he responded to his Georgetown critics first by saying, "Simply put, I do not believe that the [Catholic] preferential option for the poor means a preferential option for big government. Look at the results of the government-centered approach to the war on poverty. One in six Americans are in poverty today - the highest rate in a generation. In this war on poverty, poverty is winning. So we need a better approach. To me, this approach should be based on the twin [Catholic] virtues of solidarity and subsidiarity--virtues that, when taken together, revitalize civil society rather than displacing it."
Ryan then explained his proposed reforms of programs for the poor, saying,
"Instead, our budget builds on the historic welfare reforms of the 1990s - reforms proven to work. We aim to empower state and local governments, communities, and individuals - those closest to the problem....My mentor, Jack Kemp, used to say, "You can't help America's poor by making America poor. The President's failed economic policies have driven poverty rates to record heights, and the mountain of new debt he's helped create, much of it borrowed from China or simply printed by the Federal Reserve, has made America poorer. Those unwilling to lift the debt are complicit in our acceleration toward a debt crisis, in which the poor would be hurt the first and the worst."
The strongly bipartisan 1996 welfare reforms to which Ryan refers involved the old, New Deal, Aid to Families with Dependent Children (AFDC) program. That reform returned the share of federal spending on AFDC to each state in the form of a "block grant" to be used in a new welfare program redesigned by the state based on mandatory work for the able bodied. Federal funding for AFDC previously was based on a matching formula, with the federal government giving more to each state the more it spent on the program, effectively paying the states to spend more. The key to the 1996 reforms was that the block grants to each state were finite, not matching, so the federal funding did not vary with the amount the state spent. If a state's new program cost more, the state had to pay the extra costs itself. If the program cost less, the state could keep the savings. The reformed program was renamed Temporary Assistance to Needy Families (TANF).
The reform was opposed bitterly by the liberal welfare establishment. Their view was well expressed by Senator Daniel Patrick Moynihan, the Urban Institute, and others who predicted that the reforms would produce a "race to the bottom" among the states, and that within a year a million children would be subject to starvation. Nancy Pelosi said the reform bill would force millions of additional children into poverty. Rep. George Miller (D-CA) said it would completely dismantle the safety net for children. Rep. Pete Stark said it would result in millions of homeless and hungry children in America. Rep. Rosa DeLauro (D-CT) said it "will increase the number of children living in poverty and fail to move people off the welfare rolls and into the work force."
But quite to the contrary, the reform was shockingly successful, exceeding even the predictions of its most ardent supporters. The old AFDC rolls were reduced by two-thirds nationwide, even more in states that pushed work most aggressively, as those formerly on the program went to work, or married someone who worked.
As a result, in real dollars total federal and state spending on TANF by 2006 was down 31% from AFDC spending in 1995, and down by more than half of what it would have been under prior trends. At the same time, because of the resulting increased work by former welfare dependents, the incomes of the families formerly on the program rose by 25%, and poverty among those families plummeted. Haskins reports, "[B]y 2000 the poverty rate of black children was the lowest it had ever been."
Ryan's budget would extend these same 1996 reforms, which greatly benefited the poor as well as the taxpayers, to Medicaid, food stamps, and as many of the remaining 200 or more federal, means-tested welfare programs as possible. That would similarly benefit the poor, more effectively assisting in getting them back to work and out of poverty.
For example, the dozens of federal job training programs can be consolidated by the states into one or more effective, streamlined programs better targeted to working for the poor. The poor would potentially benefit the most from state reforms of Medicaid, which only pays doctors and hospitals 60% or less of costs for their health services to the poor. Consequently, the poor on Medicaid face grave difficulties in obtaining timely and essential health care, and suffer worse health outcomes as a result. Scott Gottlieb of the New York University School of Medicine writes in the March 10, 2011 Wall Street Journal ("Medicaid Is Worse Than No Coverage at All"), "In some states, they've cut reimbursements to providers so low that beneficiaries can't find doctors willing to accept Medicaid."
The deathly problem was illustrated by the case of 12 year old Deamonte Driver, from a poor Maryland family on Medicaid. When Deamonte complained of a toothache, his mother tried to find a dentist who would take Medicaid. But only 900 out of 5,500 dentists in Maryland do. By the time she found one, and got the boy to the appointment, his tooth had abscessed, and the infection had spread to his brain. Now she needed to find a brain specialist who took Medicaid. Before she could find one, the boy was rushed to Children's Hospital for emergency surgery. He called his mother from his hospital room one night to say, "Make sure you pray before you go to sleep." In the morning, he was dead.
States could better serve the poor by using Ryan's reforms to provide vouchers that would help to pay for the private health insurance of their choice in the marketplace. Such health insurance vouchers would free the poor from the Medicaid ghetto, enabling them to obtain the same health care as the middle class, because they would be able to buy the same health insurance as the middle class. That private insurance pays market rates for health care, which would enable the poor to actually get essential health care when needed.
Ryan is correct to point out that these 1996 reforms implement the Catholic principle of subsidiarity--that government programs should be administered at the closest possible level to those to be served. Ryan said at Georgetown, "We put our trust in people, not in government. Our budget incorporates subsidiarity by returning power to individuals, to families, and to communities." Too bad that Father Reese and the other Georgetown letter signers do not know anything about the 1996 welfare reforms and their breathtaking results. But it would not be remotely accurate to describe the resulting 50% savings of AFDC costs as decimating programs for struggling families, or the extension of such reforms to Medicaid as radically weakening protections for the sick. That is not adult discussion of the issues involved.
Ryan's Georgetown critics countered that Ryan's budget failed the Catholic principle of "subsidium," which means the higher levels of government must provide help with funding "when communities and local governments face problems beyond their means to address such as economic crises, high unemployment, endemic poverty and hunger." But the supreme ignorance of these critics regarding Ryan's budget leaves them at a loss again. Ryan's budget continues trillions in such federal subsidium to state and local governments for programs for the poor over the next 10 years, increasing it still more over current levels, more than will be needed in fact given the positive incentives resulting from Ryan's reforms. That is what happened with the overfunded 1996 reforms.
--------------------------------------------------------------------------------------------------------------------------5)Leon Cooperman: US Needs Republican Sweep to Get Back on Track
November's presidential elections will seal the fate of the nation, and hopefully voters will oust President Barack Obama from the White House and most of the Democrats from Congress, says Leon Cooperman, Chairman and CEO at Omega Advisors.
"We have an election that I think is going to define the future of the company," Cooperman tells CNBC's "Squawk Box."
"I want a Republican sweep. I'm not sure what's worse, a Democratic sweep or divided government. Everybody says divided government is good, but I think we need decisions to be made and these folks can't seem to make decisions," says Cooperman, who grabbed headlines in late 2011 when he published an open letter to President Barack Obama, accusing the president of fueling class warfare.
"I'm on the republican side, not all the time, in this particular case, to be honest with you we need a unified government, we need basically decision making and we need leadership," Cooperman says.
"Right now in the current system, these guys don't talk to each other. It's a real problem."
The economy continues to drag on President Obama's popularity.
A recent Gallup poll finds Obama's approval rating has fallen to 47 percent while satisfaction with the direction of the country is only at 24 percent.
"President Obama is running for re-election with Americans feeling about as dissatisfied with the country and the economy as they were in 1992 when George H.W. Bush lost," Gallup reports.
"However, with a modest 47 percent job approval average in early May, his approval rating is nearly the same as in 2004 when George W. Bush won."
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