Monday, June 28, 2010

The Worst Politician in America: Sheldon Silver

From BillOReilly.com:

"Bill had labeled Sheldon Silver 'the worst politician in America.' The Speaker of the House in the NY State Assembly, Silver had blocked Jessica's Law and civil confinement legislation for sexually violent predators."

From nysun.com:

"During a Monday-night segment on bad politicians, Mr. O'Reilly stared into the studio camera and described Mr. Silver as "the worst politician in America" based on the Manhattan Democrat's reluctance to advance laws that would stiffen penalties for sex offenders."

"A spokeswoman for the Assembly's Republican minority, Kelly Cummings, declined to address Mr. O'Reilly's comments head-on. But she agreed with his assessment of the reason sex-offender bills have failed. "Certainly the Assembly Democrats are the lone obstacle in keeping these initiatives from becoming law in New York," Ms. Cummings said."

Said O'Reilly:

"Everyone should know that Sheldon Silver is blocking legislation that would protect children and be tougher on sex offenders. That's why we call this man the worst politician in office today."

Tuesday, June 22, 2010

Thomas Sowell

Thomas Sowell asks "Is the U.S. Now On Slippery Slope to Tyranny?"

"In our times, American democracy is being dismantled, piece by piece, before our very eyes by the current administration in Washington, and few people seem to be concerned about it.

The president's poll numbers are going down because increasing numbers of people disagree with particular policies of his, but the damage being done to the fundamental structure of this nation goes far beyond particular counterproductive policies."

Wednesday, June 16, 2010

Temporary Tax Breaks for Temporary Employment

Our politicians must not care about the high rate of unemployment. If they did, they would create permanent tax cuts.  Even better, they would implement a flat tax as proposed by Chris Edwards and Daniel Mitchell.  Permanent tax reforms would help us to achieve the goal of long term economic growth and permanent economic stabilization. However, unfortunately, this is not what our politicians want.  Our politicians would like to create short term tax cuts or one time tax rebates so that they can claim their policy is responsible for growth. Any economic downturn, of course, is the fault of their predecessor.

Even worse are the auto and home subsidy programs that help the boom and bust cycle thrive by way of malinvestment:

Barrons:  
"That $8,000 subsidy costs $43,000 per extra house sold, assuming it doesn't grow to $292,000."

Barrons:  
"The Bureau of Economic Analysis figures the average expenditure per car is $22,000."

Again, the temporary nature of the aforementioned policies is consistent with the hubris and selfishness of our elected leaders. They believe that they are being "fair" by keeping taxes high and redistributing the tax revenue as they see fit.  The problem is that most of them achieved their positions with hollow rhetoric and blatant corruption
and none are familiar with the practice of allocating scarce resources efficiently.  No better example of this hubris is Chuck "The Earmark" Schumer, who travels all over New York State during college graduation time, proclaiming to recent graduates and their families that he will support a tax cut for those who wish to pursue higher education.  It only takes an economic catastrophe for Schumer to support a one time tax cut for college students.  That is, the hypocritical arrogant elitists such as Chuck Schumer want you to believe that the government giving you back your own money is some sort of favor.

Saturday, June 12, 2010

Survey on Basic Economics

A Wall Street Journal article shows that those who identify themselves as liberal democrats are completely uninformed on economic issues, as compared to conservatives and libertarians.  Perhaps these liberal democrats should cease to use the label of "Progressive" and instead refer to themselves as "Regressive".  An even more accurate label would be "Statist".

Monday, June 7, 2010

U.S. Debt to Overtake GDP by 2012

Ignorant statements such as "In the long run we are all dead" assumes that it is acceptable to burden the next generation with our own problems and our own debts.  Politicians appear determined to take this ridiculously selfish statement and make it into a nightmare for the next generation.

This week the Treasury will be auctioning off and borrowing the following:

$27 Billion in 13-week Bills on June 7, 2010
$27 Billion in 26-week Bills on June 7, 2010
$26 Billion in 5-day Cash Management Bills on June 8, 2010
$31 Billion in 4-week Bills on June 8, 2010
$36 Billion in 3-year Notes on June 8, 2010
$25 Billion in 56-day Cash Management Bills on June 9, 2010
$21 Billion in 10-year Notes on June 9, 2010
$13 Billion in 30-year Bonds on June 10, 2010