Dems in hock to SEIU-owned bank

Classic crony capitalism from the Democrats.

The Democratic National Committee (DNC) owes at least $8 million to a bank owned by one of the largest unions in the country, according to the committee's most recent financial report.

The DNC initiated an $8 million loan with the Amalgamated Bank of New York on Aug. 10, the report shows, accounting for the majority of the committee's overall debt of $11 million.

Amalgamated Bank, often described as "America's Labor Bank," is a national entity, the majority of which is owned by the Service Employees International Union (SEIU), a politically active union with deep ties to the Democratic Party. The SEIU is also involved with the Democracy Alliance, a shadowy group of wealthy left-wing donors founded by billionaire investor George Soros.

The bank announced in an August press release that the DNC had "moved its primary banking relationship" to Amalgamated Bank, which would handle the committee's "day-to-day banking needs."

The DNC had previously done most of its banking with Bank of America, which helped finance the Democratic convention in Charlotte.

DNC chairwoman Debbie Wasserman Schultz hailed the transition to Amalgamated Bank, and noted the longstanding political and financial ties between the two organizations.

The committee, she said, had a "fiduciary responsibility to those who invest in our party."

"It is critical that we honor their efforts to strengthen our infrastructure and build our organization by partnering with an institution that shares our commitment to standing with America's working families and small businesses," she said in a press release.

Via: American Thinker (BLOG)

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Obama's Quasi-Tax Increases

When most people think about taxes, the first thing that comes to mind are federal and state taxes.  Some will remember sales taxes, Social Security taxes, and Medicare taxes. 

What unites all of these taxes are that they are burdens placed by government on the citizens of America.  When we talk about the full tax burden Americans endure, it behooves us to count all of the ways in which the government forces us to spend our money.

To understand the full tax burden of Americans, we need to look at all the government does that directly financially impacts each American.  For example, since 9/11, every time you fly, you have to allocate an extra hour or more to deal with security.  That hour you lose is a burden imposed by the government that does not show up on your regular tax bill, but since time is money, that hour does impact your life.

Any sort of government imposed non-tax financial burden can be called a quasi-tax in that it takes money out of the pockets of Americans, but it is not levied in the manner normal taxes are, and the money does not necessarily go directly to the government.

These quasi-taxes can have a huge impact on both the economy and the financial well-being of every American.  Additionally they can be extremely regressive and disproportionately target those Americans with the least money.

Obama has imposed a number of highly regressive quasi-taxes on Americans since he assumed office in 2009.

The price of gas has doubled under Obama.  While that entire price change is not Obama's fault, his support for dramatic reductions in new drilling permits on federal lands and his inept foreign policy in the Middle East have contributed to reducing the oil supply and hence increasing the price of gasoline.

Via: American Thinker

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The Fall of the House of Obama

"Madman!" screeched Roderick Usher to the narrator as they both recoiled in terror at the wraithlike apparition that faced them at the door in Edgar Allan Poe's "The Fall of the House of Usher."

"Madman!" he screamed again at the narrator of this tale of horror, who by this time had "perceived ... a full consciousness on the part of Usher of the tottering of his lofty reason upon her throne."

A sound conclusion this was, for Roderick Usher was insane.  His fevered imagination conjured images of fantastic dimensions, such as the living, breathing nature of the house his family had inhabited, as well as the room he painted -- ghoulish, subterranean, frightful, one in which "no outlet was observed in any portion of its vast extent, and no torch or other artificial source of light was discernible; yet a flood of intense rays rolled throughout, and bathed the whole in a ghastly and inappropriate splendor."  

It was, in short, a cavern inside a bubble concocted by one who has lost his connection to reality.  This was one who also accused his exalted visitor, the narrator of this story, of a condition from which he alone suffered -- madness.

Which of course brings to mind President Obama's re-election campaign themes, as well as those seen at the Democratic National Convention.  Take for instance accusations made against Mitt Romney for being somehow responsible for the death of a woman whose husband worked for a company for which Mr. Romney's responsibilities had ended seven years earlier.  Or consider the groundless accusation that Mr. Romney did not pay taxes for a decade or so, which generated further the charge that he is a felon and a liar.  Or take further the maniacal frothings of Democratic partisans who essentially accuse Republicans of being Nazis -- this from a party that constitutes the poster boy for the most statist, anti-free enterprise, and arrogant regime in American history.

Via: The American Thinker

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Mitt Romney: President Obama Has ‘Admitted Defeat’ On The Economy

This hits pretty close to the mark, if you've been listening to what Obama has been saying these past few months.

The Hill:

Republican presidential candidate Mitt Romney accused President Obama on Saturday of giving up on trying to fix the economy, saying he had "admitted defeat."

In his weekly podcast, Romney pounced on a recent government report, which found that the unemployment rate rose in 44 states last month.

He accused Obama of blaming the "stalemate in Washington" instead of working to boost job creation.

With millions of Americans hurting like never before, the President has admitted defeat. With five months to go before his term his up, he's saying he won't even try anymore," Romney claimed.

The presumptive Republican nominee for president argued that he has the executive experience necessary to turn the economy around.

"I've led companies. I've overseen an Olympic Games. And I've governed a great American state," Romney said. "When people are telling you to give up, that's when you find a way to try harder. When others are pointing fingers, that's when you extend an open hand. And when Americans are hurting and families are falling apart, that's when you put politics aside and find a way to get them some help. In a word, you lead."

Romney will accept his party's presidential nomination in Tampa, Fla. next week.

"Look to Tampa. Two days from now, leaders from all across the country will gather to show Americans that help is on the way," Romney said.

Romney's line is reminiscent of the acceptance speech of 2004 Democratic nominee John Kerry, who repeatedly said, "America can do better. And help is on the way."

The fact is, President Obama has failed miserably in trying to "stimulate" the economy by pouring hundreds of billions of dollars in "investments" for green energy, infrastructure projects, and other temporary measures that have done nothing except drive up the deficit.

Instead if removing obstacles to job creation, the president has put up more roadblocks to recovery. One simply cannot reconcile Mr. Obama's policies with his whining about a lack of job creation. If he can't realize that you can't have stifling regulations and growing uncertainty in the business community because of the effects of Obamacare, and healthy job creation at the same time, we really need to replace our clueless chief executive with someone who can make the connection -- and address the problem intelligently.

Via: American Thinker