Thursday, April 29, 2010

GM Did Not Pay Back TARP

Special Inspector General for TARP, Neil Barofsky, a Democrat, stated the below, which can also be found on NewsBusters.org:

"I think the one thing that a lot of people overlook with this is where they got the money to pay back the loan. And it isn't from earnings. ... It's actually from another pool of TARP money that they've already received," he said Wednesday. "I don't think we should exaggerate it too much. Remember that the source of this money is just other TARP money."

This ponzi scheme is well summarized on HotAir.com:

"In other words, this is just a shell game. As Jim Vicevich points out, it’s akin to paying off your Visa credit card with your Mastercard — and then bragging about your financial condition. Taxpayers are still on the hook for GM. Nothing at all has changed."

Business as Usual

New York State State Senator Pedro Espada, the Democratic majority leader, has been accused of taking $14 million from publicly subsidized health clinics by Andrew Cuomo.

Business as usual for the New York State Legislature.

It's a very sad day when we have to rely on Andrew Cuomo to regulate this activity.

Tuesday, April 20, 2010

Congressional Hypocrisy

Maxine Waters, California Democrat, believes in socialism for everyone except herself.

Congressional hypocrisy is nothing new, however it is now even more prevalent with the new "heath care" legislation that the democratic party claims will reduce the cost of health care. It appears as if Waters is competing with Pelosi for the most corrupt politician in congress.

Monday, April 12, 2010

Strong Commitment to Fiscal Irresponsibility

Bernanke's speech last week would lead one to believe that he has not yet realized that both the legislative and executive branch's have repeatedly disregarded what is responsible.

"To avoid large and unsustainable budget deficits, the nation will ultimately have to choose among higher taxes, modifications to entitlement programs such as Social Security and Medicare, less spending on everything else from education to defense, or some combination of the above. These choices are difficult, and it always seems easier to put them off--until the day they cannot be put off any more. But unless we as a nation demonstrate a strong commitment to fiscal responsibility, in the longer run we will have neither financial stability nor healthy economic growth."

Perhaps congress and the administration truly believe that Japan's Keynesian policies are the answer to our problems.

Tuesday, April 6, 2010

Constitutionality and Accuracy of the Census

Cato's Ilya Shapiro, Professor Kevin Gutzman, and Andrew Napolitano provide some analysis on the constitutionality of the census.  Napolitano is unfortunately an anarchist who believes in zero government.  Anarchists such as Napolitano often diminish the impact of those who believe in limited government (such as classical liberals, conservatives, and libertarians).  However Ilya Shapiro provides some excellent analysis.

Constitutional or not, why would the Census Bureau need the assistance of an organization that has a track record of criminal and fraudulent activity? Tom Fitton, President of Judicial Watch, asks why the Census Bureau has enlisted the help of ACORN.