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Hat tips: Conservative Daily News and BadBlue.
QOTD: "I’m not running for any office, but I’m more than happy to accept the dubious honor of being Barack Obama’s “enemy of the week” if that includes the opportunity to debate him on the issues Americans are actually concerned about. …
Just off the top of my head, a few of these concerning issues include: a debt crisis that has us hurtling towards a Greek-style collapse, entitlement programs going bankrupt, a credit downgrade for the first time in our history, a government takeover of the health care industry that makes care more expensive and puts a rationing panel of faceless bureaucrats between you and your doctor (aka a “death panel”), $4 and $5 gas at the pump exacerbated by an anti-drilling agenda that rejects good paying energy sector jobs and makes us more dependent on dangerous foreign regimes, a war in Afghanistan that seems unfocused and unending, a global presidential apology tour that’s made us look feeble and ridiculous, a housing market in the tank, the longest streak of high unemployment since World War II, private-sector job creators and industry strangled by burdensome regulations and an out-of-control Obama EPA, an attack on the Constitutional protection of religious liberty, an attack on private industry in right-to-work states, crony capitalism run amok in an administration in bed with their favored cronies to the detriment of genuine free market capitalism, green energy pay-to-play kickbacks to Obama campaign donors, and a Justice Department still stonewalling on a bungled operation that armed violent Mexican drug lords and led to the deaths of hundreds of innocent people." --Sarah Palin
When he was running for the Oval Office four years ago amid $4-a-gallon gasoline prices, then-Sen. Barack Obama dismissed the idea of expanded oil production as a way to relieve the pain at the pump.
"Even if you opened up every square inch of our land and our coasts to drilling," he said. "America still has only 3% of the world's oil reserves." Which meant, he said, that the U.S. couldn't affect global oil prices... It's the same rhetoric President Obama is using now, as gas prices hit $4 again, except now he puts the figure at 2%...But the figure Obama uses — proved oil reserves — vastly undercounts how much oil the U.S. actually contains. In fact, far from being oil-poor, the country is awash in vast quantities — enough to meet all the country's oil needs for hundreds of years...
• ...At least 86 billion barrels of oil in the Outer Continental Shelf yet to be discovered, according to the government's Bureau of Ocean Energy Management.
• ...About 24 billion barrels in shale deposits in the lower 48 states, according to EIA.
• ...Up to 2 billion barrels of oil in shale deposits in Alaska's North Slope, says the U.S. Geological Survey.
• ...Up to 12 billion barrels in ANWR, according to the USGS.
• ...As much as 19 billion barrels in the Utah tar sands, according to the Bureau of Land Management.
• ...Then, there's the massive Green River Formation in Wyoming, which according to the USGS contains a stunning 1.4 trillion barrels of oil shale — a type of oil released from sedimentary rock after it's heated.
• ...A separate Rand Corp. study found that about 800 billion barrels of oil shale in Wyoming and neighboring states is "technically recoverable," which means it could be extracted using existing technology. That's more than triple the known reserves in Saudi Arabia.
All told, the U.S. has access to 400 billion barrels of crude that could be recovered using existing drilling technologies, according to a 2006 Energy Department report... When you include oil shale, the U.S. has 1.4 trillion barrels of technically recoverable oil, according to the Institute for Energy Research, enough to meet all U.S. oil needs for about the next 200 years, without any imports.
And even this number could be low, since such estimates tend to go up over time...
Via Reuters, yes, I'd say Newt's campaign is very much in doubt, alright. Now, he'll only hurt his reputation with many in the base if he remains in the race...
"This really was his last chance to show whether he had the ability to win," said Natalie Davis, professor of political science at Birmingham Southern College in Birmingham, Alabama. "If he can't win in Alabama ... he really can't win anywhere. This was his last stand and he lost."
...I backed Newt after Perry dropped and didn't turn on him after he imploded in Florida, while also having a terrible debate. I've been content to watch it play out, not hitting either him, or Santorum. But all Newt can be from here on is a spoiler.
The bottom-line is, whether you back him, or not, Santorum has won himself the right to go one-on-one with Romney and settle things cleanly and once and for all. Not only will Newt begin to lose more and more friends across the conservative base by staying in - they'll see it as his ego and Adelson's money keeping him in - he's likely to begin performing worse and worse, only making it all the worse for him.
By losing as he did last night, he proved he can't win much of anywhere. His candidacy is not viable. The only honorable move left for Newt is to drop out. Do the right thing, Newt. Enough GOP primary voters have spoken that, in my opinion, the best thing Newt can do now is to show some respect for them.
Saw this over at Ace’s place, where a county Democratic Party headquarters flew a flag with Obama’s face on it.The story is here and more pictures are here.
The New York Times bestselling author of the explosive new book, Hollywood Hypocrites: The Devastating Truth About Obama’s Biggest Backers, Jason Mattera, had his crew’s camera snatched and hurled by comedian Chris Rock when he asked the star why he has called the Tea Party racist.
QOTD: "In November of 1985, the Harvard Law Review published a seminal article of Critical Race Theory, written by Derrick Bell, and edited by a student, Elena Kagan. The same article was cited by Professor Charles Ogletree and by President Obama as support for her nomination to the U.S. Supreme Court in 2010. The article defines the Constitution as a form of “original sin”. A similar view has been expressed by President Obama in referring to the flaws of the Constitution. Most of the article is fiction and meant as a parable. Unfortunately, the parables of a racist are now becoming institutionalized within our legal system." --Skook, Flopping Aces
So much for an ice-free Arctic. Henry Hudson’s long-ago dream of a Northwest Passage that would link England to the Orient by sea will have to wait another century as Mother Earth gives him the cold shoulder. Again.From Real Science: “1979 was the peak year for Arctic ice, yet 2012 has more ice around Greenland and Alaska than 1979 did.”
Same date satellite data seems to show that Iceland and everywhere else is iced over this year when they were feeling a little green 33 years ago.
Of course, our moral and intellectual superiors elsewhere in the press keep banging the drums of Man Caused Global Warming.
CBO Report: Spending Is Driving Debt to “Unsupportable” Level
...CBO’s “alternative” projections ... make clear once again that too much spending—not too little tax revenue—is the biggest threat to the country’s fiscal and economic health. Among other things, the alternative figures show that:
Federal spending will consume record levels of resources as a share of the economy, reaching nearly one-quarter of gross domestic product (GDP) in 2022.
Without tax increases, tax revenue would still reach its historical average, but uncontrolled spending would outpace revenue. This would push federal debt to levels that the CBO calls “unsupportable.”
CBO’s conventional baseline (defined by statute) projects spending, tax revenue, and deficits assuming current law—including scheduled changes in law. This includes an expiration of the “doc fix,” which has prevented a plunge in Medicare physician reimbursements every year since 2003, and the expiration of the Bush-era tax policies, as well as a number of other tax provisions. These would result in a tax increase of about $4 trillion over the next 10 years. These assumptions represent what CBO calls “a significant departure from recent policies.” That is, no one expects these changes to happen...
CBO: New 10-year projected cost of ObamaCare is … $1.76 trillion
...The original 10-year price tag, the one that made it “safe” (but not really safe) for Democrats to drop this fiscal atomic bomb, was $940 billion. What happened, you ask? Well, see for yourself:Remember, they gamed this thing so that it wouldn’t take effect until 2014, which means that the cost of the first four years of implementation was essentially zero. That $940 billion figure really represented just six years of cost, not 10, but it was politically invaluable to Democratic messaging in letting them tout the bill as costing less than a trillion dollars. Now that we’re nearing 2014 and the 10-year window of cost projections has slid forward, you can see what this leviathan boondoggle really costs: $1.76 trillion, soon to top $2 trillion when the window slides forward another year in 2013 and the new projection reaches into 2023.
But wait. More good news: "Four million Americans can expect to lose their employer-provided healthcare by 2016, according to the revised figures, far more than the 1 million people estimated last year..."
Thanks to the economy, we’re going to end up with a lot fewer people getting health insurance through the workplace than previously estimated and a lot more people getting it through Medicaid, which, as Klein notes, inches us a little closer to that government takeover of health care that the left insists is a conservative myth...
One of my favorite moments from the new book The Escape Artists: How Obama’s Team Fumbled the Recovery:Energy was a particular obsession of the president-elect’s, and therefore a particular source of frustration. Week after week, [White House economic adviser Christina] Romer would march in with an estimate of the jobs all the investments in clean energy would produce; week after week, Obama would send her back to check the numbers. “I don’t get it,” he’d say. “We make these large-scale investments in infrastructure. What do you mean, there are no jobs?” But the numbers rarely budged.
[Ed: gee, what a surprise!]Now let’s fast forward to this past September:
A $38.6 billion loan guarantee program that the Obama administration promised would create or save 65,000 jobs has created just a few thousand jobs two years after it began, government records show. The program — designed to jump-start the nation’s clean technology industry by giving energy companies access to low-cost, government-backed loans — has directly created 3,545 new, permanent jobs after giving out almost half the allocated amount, according to Energy Department tallies.
So where are the new jobs coming from, at least the good-paying ones? From the industry Obama wants to replace as much as possible with “clean” energy: oil and gas.
To purportedly tame the progressive rise in gas prices, President Obama visited a North Carolina truck manufacturer on Wednesday to unveil a new $1 billion plan to advocate electric and alternative vehicles through consumer incentives and federal grants for states.
The "green" initiative, tagged the "National Community Deployment Challenge," provides a $10,000 tax credit — up from the current $7,500 incentive — to consumers purchasing "advanced cars and trucks." The grant program includes a "Race to the Top" contest that would award money to states with "model communities" that agree to fund infrastructure such as charging stations or natural gas corridors "where alternative fuel trucks can transport goods without using a drop of oil," according to the White House Press Fact Sheet.
QOTD: "Putting forward an electable moderate with an ambiguous position on most issues is a credible strategy for winning elections, even if it isn't a very promising one. The establishment is betting that come election day, Romney will still look like a reasonable choice compared to the man presiding over an economic disaster. No one will be fired up at the thought of pulling the lever for him, but he will look like the guy you want to hire to fix the problem that the last guy you hired caused.
Is that a good bet? Over a few months the media turned a popular moderate Republican war hero who was well liked even by them into a crazy senile monster who would turn America into a Christian dictatorship. They also turned a young reformist female governor into a crazed idiot." --Daniel Greenfield
A few days ago we noted that based on preliminary data, the February budget deficit would hit $229 billion (yes, nearly one quarter of a trillion in one month, about where real Greek GDP is these days) - the largest single monthly deficit in history. Unfortunately, this number was low: the final February deficit was just released and the actual print is $231.7 billion......It also means that in the first 5 months of the fiscal year, the US has raked up $580 billion in deficits, oddly matched by $727 billion in new debt issuance, 25% more new debt issued than needed to fund deficits...
...through last Friday, and net of tax refunds, total US tax revenues were actually lower in the fiscal 2012 year to date period than compared to 2011, by just under $2 billion, at $625.5 billion. Which is the weakest link for any argument that the US is actually growing: what is growing is America's debt (now almost exponentially), while its revenues are at best unchanged. And the scariest: annualizing net tax revenues brings the number to $1.5 trillion. Which is just 50% more where total US debt interest will be in 2014 when debt is $20 trillion, assuming interest rates are somehow allowed to go back up... to the astronomical level of 5%.
11 Mar 2012
Kofi Annan optimistic over Syria deal
U.N.-Arab League envoy Kofi Annan concludes he is "optimistic" after meeting with president Assad.11 Mar 2012
Syria: Assad rebuffs Kofi Annan peace bid
Syrian government offensive against rebels leaves more than 130 dead.
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Did you know this week is Diplomat Lifetime Employment week?
...Theft of Tide detergent has become so rampant that some cities are setting up special task forces to stop it and retailers like CVS are taking special security precautions to lock down the liquid.
...Tide has become a form of currency on the streets. The retail price is steadily high -- roughly $10 to $20 a bottle -- and it's a staple in households across socioeconomic classes.
Tide can go for $5 to $10 a bottle on the black market, authorities say, and some thieves even resell it to stores.
"There's no serial numbers and it's impossible to track," said Detective Larry Patterson of the Somerset, Ky., Police Department, where authorities have seen a huge spike in Tide theft. "It's the item to steal."
QOTD: "I guarantee you if Ronald Reagan was president of the United States, [Iran] wouldn't think twice about continuing this nuclear arms program. I think Reagan would make it clear that not only do we stand with Israel and give them the weapons they need; we'll use the weapons ourselves." --Mark Levin
Residents of southern Israel suffered another day under siege on Sunday as Palestinians in the Gaza Strip fired about 50 more rockets at the Negev.Two Grad-type Katyusha rockets fell in Be'er Sheva after the Iron Dome battery that had been protecting it suffered a technical malfunction...
...One rocket hit a school, which was empty since schools in the city were closed Sunday, and the other hit a parked car. Fifteen people were treated for shock, though there were no other casualties. The rockets - and the ball bearings that they ejected hundreds of meters - caused heavy damage to buildings and vehicles...
...Since Friday, 104 rockets were fired toward Israel, 43 of which were intercepted by the Iron Dome defense systems. The IAF carried out 23 strikes in the Gaza Strip.
...Some 200,000 pupils will remain at home again on Monday, as schools remain closed in Be'er Sheva, Ofakim, Ashdod, Yavneh, Ashkelon, Kiryat Malakhi and Netivot, and in all the other smaller communities that are between seven and 40 kilometers from the Gaza Strip.
Currently, the U.S. has 22 right-to-work states. All of them are in the South, West, and Central Midwest. During the past 15 years, these states have collectively outperformed the rest of the nation to an almost embarrassing degree:• “From 1995 to 2005, incomes of residents in right-to-work states grew by 142 percent more than the incomes of Ohioans,” and “private-sector job growth was 500% greater.”
• After passing right-to-work legislation in 1986 and 2001, respectively, Idaho and Oklahoma both experienced explosive growth in their economies and overall employment.
• An after-tax dollar earned in a right-to-work state has more real purchasing power than it does in other states, “because union labor tends to raise (the) costs of goods and services.”
I took a look at economic growth in the individual states during the past decade as measured by gross domestic product (GDP). What I found also shows that right-to-work states clearly outperformed the others [see table at right]...
...2001-2010 economic growth weighted by average population in all right-to-work states was 21.7%; in the rest of the states and the District of Columbia, it was only 13.6%. During the past thirty years, the tremendous leads in per-capita GDP industrial states like Ohio and Michigan once had over the right-to-work states have mostly and in a few cases entirely evaporated.
The last time we plotted European youth unemployment in what was dubbed "Europe's scariest chart" we were surprised to discover that when it comes to "Arab Spring inspiring" youth unemployment, Spain was actually worse off than even (now officially broke) Greece, whose young adult unemployment at the time was only just better compared to that... of the United States. Luckily, following the latest economic (yes, we laughed too) update from Greece, it is safe to say that things are back to normal, as Greek youth unemployment is officially the second one in Europe after Spain to surpass 50%. In other words, Europe's scariest chart just got even scarier.And so while the Greek economy is in tatters, following another downward revision to its GDP as reported last week, this time dragging Q4 GDP from -7.0% to -7.5%, that's only the beginning, and it now appears that a terminal collapse of not just the Greek financial sector, but its society as well, has commenced, as the number of people unemployed in the 11 million person country is now 41% greater than its was a year ago...
Today, a hope of many years' standing is in large part fulfilled. The civilization of the past hundred years, with its startling industrial changes, had tended more and more to make life insecure. Young people have come to wonder what will be their lot when they came to old age. The man with a job has wondered how long the job would last...
...This social security measure gives at least some protection to 50 millions of our citizens who will reap direct benefits through unemployment compensation, through old-age pensions, and through increased services for the protection of children and the prevention of ill health...
...It is, in short, a law that will take care of human needs and at the same time provide the United States an economic structure of vastly greater soundness...
In last year's Trustees Report, the Social Security Administration warned that the program's trust fund was likely to run out of money in 2036, leading to deep cuts in benefits. If that weren't bad enough for anyone expecting to be alive then, a more recent projection from the Congressional Budget Office paints a much worse picture.This year's CBO report forecasts that by the end of this decade, the combined Social Security Old Age and Disability Trust Funds will be about $800 billion smaller than last year's SSA projections. That's a very substantial drop -- and a sign that this year's Trustees Report will likely bring another downward revision to the year it expects those Trust Funds to dry up and benefits to be cut.
...No longer will older Americans be denied the healing miracle of modern medicine. No longer will illness crush and destroy the savings that they have so carefully put away over a lifetime so that they might enjoy dignity in their later years... And no longer will this Nation refuse the hand of justice to those who have given a lifetime of service and wisdom and labor to the progress of this progressive country...
...During your working years, the people of America--you--will contribute ... a small amount each payday for hospital insurance protection. For example, the average worker in 1966 will contribute about $1.50 per month. The employer will contribute a similar amount. And this will provide the funds to pay up to 90 days of hospital care for each illness, plus diagnostic care, and up to 100 home health visits after you are 65. And beginning in 1967, you will also be covered for up to 100 days of care in a skilled nursing home after a period of hospital care.
A week ago, the Medicare Trustees issued their annual report, which showed that the program is on the fact track to insolvency. The 2011 analysis projected that the Hospital Insurance Trust Fund (which funds Medicare Part A) will be insolvent in 2024, and the program’s long-term unfunded obligations—promised benefits that are not paid for—amount to $24.6 trillion...
...[new] across-the-board cuts would cause 15 percent of hospitals, skilled nursing facilities, and home health agencies to become unprofitable by 2019. This number would climb to 25 percent in 2030 and 40 percent by 2050.
...And we have now just enshrined, as soon as I sign this bill, the core principle that everybody should have some basic security when it comes to their health care...
...I said this once or twice, but it bears repeating: If you like your current insurance, you will keep your current insurance. No government takeover; nobody is changing what you’ve got if you’re happy with it. If you like your doctor, you will be able to keep your doctor. In fact, more people will keep their doctors because your coverage will be more secure and more stable than it was before I signed this legislation.
Hard times continue for the Affordable Care Act (aka Obamacare). The administration has scrapped the law's long-term care insurance program, covering nursing homes and home health care. The program was deemed unrealistic. This is a harbinger...
...Writing in The New York Review of Books, [Arnold Relman, the former editor of The New England Journal of Medicine] says that "the law does very little or nothing to address some of the most important causes of the high cost of care and its rapid inflation.” Note: Relman isn't a conservative crank. He's a critic of insurance companies and advocates a single-payer, government-run health-care system.
The ACA, Relman writes, doesn't alter fee-for-service reimbursement... [he is also] unimpressed with the ACA provisions intended to control costs: for example, the Independent Payment Advisory Board (IPAB). It's a group of 15 experts who would recommend changes if government health spending rose too rapidly... Relman also dismisses "accountable care organizations” (ACOs) that supposedly save money through coordinated care by doctors and hospitals. The regulations governing ACOs will be so complicated that there won't be many of them, he writes.
...Many of [the ACA's] promises rest, like CLASS, on unrealistic assumptions. Disappointments loom, and the needed debate is deferred.
The reason I say that liberalism is the philosophy of the stupid is because we can look at what's going around in the country today. If, in your own lives, you were pursuing policies that were destroying your own home ownership, that were destroying your own job, that were creating a massive, impossible debt for your family and your children in particular, you'd stop it. You wouldn't keep doing it!
And yet for the liberal, if it's imposed on you -- and they feel that they can be immune from it -- they're for it. They wouldn't do to themselves and their own family what they're doing to you, and your family, and the whole nation! Take Barack Obama. Does Barack Obama conduct himself in his own, personal affairs, in his family's affairs, as recklessly as he conducts the affairs of the nation? No. Would he run up the kind of relative personal debt that he's running up for the nation? No way.
...So they do to us -- and they do to our society -- what they would never do to their own families. They do not live in their own lives as they seek to have the rest of us live. Or as they seek to have our society conduct itself.