Monday, October 1, 2012

ACLU: Phone Tracking, Wiretaps Spike Under Obama


The instances of the Justice Department monitoring electronic communications such as phone calls, emails and even social network updates without a warrant has increased by as much as 60 percent in recent years, according to the American Civil Liberties Union.

The surveillance tools – known as either a “pen register” or a “trap and trace” – record such information as phone numbers and the time and length of calls, but not the content.

Orders to track phone calls increased 60 percent -- from 23,535 in 2009 to 37,616 in 2011 -- according to Justice Department documents, including ones recently acquired by the ACLU.

Orders to track emails and computer network data increased by 361 percent over the same period, though the number of orders was less compared to those for phone calls.

The ACLU argues the legal standard to use the devices is lower because they don’t capture content -- unlike wiretaps, which require a judge’s permission. And the government needs submit only to a court a certification stating that it seeks information relevant to an ongoing criminal investigation.

However, the Justice Department said that in “every instance cited” in the documents a federal judge authorized the law enforcement activity.

“As criminals increasingly use new and more sophisticated technologies, the use of orders issued by a judge and explicitly authorized by Congress to obtain non-content information is essential for federal law enforcement officials to carry out their duty to protect the public and investigate violations of federal laws," the agency said in a statement.
Still, Naomi Gilens, writing in a blog for the ACLU, says the information in the documents “underscore the importance of regulating and overseeing the government’s surveillance power.”

She also calls both devices “powerfully invasive surveillance tools” and points out that nowadays no special equipment is needed to record such information because it is part of phone companies’ call-routing hardware, unlike 20 years ago.


Via: Fox News

Continue Reading...

Debt Jumped $1.2759T in FY 2012; Up $10,855 Per Household in Just 12 Months; Beats 2011


According to the U.S. Treasury, the debt of the U.S. government climbed by a total of $1,275,901,078,828.74 in fiscal 2012, which ended yesterday.
That means the federal government borrowed approximately an additional $10,855 for each household in the United States just over the past twelve months.
The total debt of the United States now equals approximately $136,690 per household.
In fiscal 2011, the debt increased by about $10,454 per household--$401 less than the $10,855 per household increase of 2012.
The $1.2758 trillion that the debt increased in fiscal 2012 was about $47.18 billion more than the $1.2287 trillion that the debt increased in fiscal 2011.
The federal fiscal year begins on Oct. 1 and ends on Sept. 30.
At the close of business on Sept. 30, 2011, the total debt of the U.S. government was $14,790,340,328,557.15, according to the Treasury. At the close of business on Sept. 28, the last business day of fiscal 2012, it was $16,066,241,407,385.89
That meant the debt increased in fiscal 2012 by $1,275,901,078,828.74.
At the close of business on Sept. 30, 2010, the debt had stood at $13,561,623,030,891.79.  Over the course of fiscal 2011, it increased by $1,228,717,297,665.36 before closing at 14,790,340,328,557.15 on Sept. 30, 2011.
The fiscal 2012 increase of $1,275,901,078,828.74 exceeded the fiscal 2011 increase $1,228,717,297,665.36 by $47,183,781,163.38
The Census Bureau estimated that there were 117,538,000 household in the United States in 2010. The $1,275,901,078,828.74 that the debt increased in fiscal 2012 equaled about $10,855 for each one of those 117,538,000 households.

Obama Makes 10th Las Vegas Trip Since Telling Bankers Not To Visit The City “On The Taxpayers Dime”…


(CNSNews.com) - Less than three weeks into his presidency Barack Obama warned executives of banks that had received federal bailout money that they better not take business trips to Las Vegas. Since then, Obama himself has made 9 trips to Vegas—and is making a tenth today.
“You can't get corporate jets,” Obama said at a Feb. 9, 2009 townhall meeting in Elkhart, Ind. “You can't go take a trip to Las Vegas, or go down to the Super Bowl on the taxpayers' dime.”
By May 27, 2009, Obama was in Las Vegas to tour a “solar photovoltaic array” at Nellis Air Force Base with Senate Majority Leader Harry Reid.
According to an archive of the president’s official schedule maintained by the Chicago Sun Times, Obama has frequently returned to Vegas for purposes ranging from pushing his jobs bill, to campaigning with Reid, to attending fundraisers.

Planned Parenthood To Hold Anti-Romney Protests In Denver Ahead Of Debate…



Part of Campaign to Mobilize Voters to “Ask Mitt”
 

Washington, DC — Today, Planned Parenthood Action Fund and Planned Parenthood Votes announced they will paint Denver pink in the days leading up the first presidential debate. The Action Fund will hold a rally in Denver on Tuesday and Planned Parenthood Votes will run a series of ads targeting Colorado voters spanning TV, mobile, and online. The blitz is part of a wide, sweeping campaign to mobilize voters to “Ask Mitt” about his domestic policy positions, which would have real consequences for women, women’s health and women’s economic security.
The centerpiece of the campaign is “Ask Mitt” — an online voter engagement campaign that has already generated thousands of submissions via twitter and through the website http://www.ask-mitt.com. In the days leading up to the debate, supporters are being asked to vote for their favorite “Ask Mitt” questions (top five below).
Additionally, the groups are rolling out the following in Denver:
  • an Action Fund “Ask Mitt” rally for women’s health on Tuesday, October 2, with Planned Parenthood Action Fund president, Cecile Richards;
  • a new 30-second ad, “Ask Mitt,” from PPVotes on local Colorado television, that you can view here: http://youtu.be/GjZcbFml9JE;
  • two Planned Parenthood Votes geo-targeted “Ask Mitt” 15-second mobile / tablet ads targeting Colorado voters, that you can view here:http://youtu.be/emFT0ao-ANU, and here:http://youtu.be/8oewPkpgQJo;
  • takeover “Ask Mitt” Planned Parenthood Votes advertising on the politics section of the Denver Post online all day Tuesday and Wednesday of next week; andan “Ask Mitt” giant movable chalkboard where pedestrians can paint their questions that will be placed around different locations in Denver in the days leading up to the debate.

WH Aide Involved in Fast and Furious Was 'Suddenly' Transferred to Iraq; Issa Threatens Subpoena

House Oversight and Government Reform Chairman Darrell Issa (R.-Calif.) (AP Photo/J. Scott Applewhite)

(CNSNews.com) - Kevin O’Reilly, a member of the White House National Security Staff who regularly communicated about Operation Fast and Furious with the Arizona-based ATF agent responsible for running the operation that allowed guns to flow to Mexican drug cartels, was suddenly transferred out of the White House and into Iraq in July 2011.
The transfer took place shortly after the ATF agent had testified in the House Oversight and Government Reform Committee and the White House had provided the committee with a series of emails that O’Reilly and the agent had exchanged while Fast and Furious was underway.
Since then, the White House has declined to allow O’Reilly to be interviewed either by the committee or by Justice Department Inspector General Michael Horowitz, who conducted the administration’s internal investigation of Fast and Furious. The White House also refused to give the inspector general access to internal White House communications relating to Fast and Furious.
Under Fast and Furious, the ATF and the Justice Department deliberately allowed known straw purchasers for Mexican drug cartels to buy about 2,000 guns at U.S. gun stores. In December 2010, two of these guns were found at the scene of the murder of Border Patrol Agent Brian Terry. Many more of the guns were found at crime scenes in Mexico.
In Sept. 20 testimony before the Oversight Committee, Horowitz said that the White House’s refusal to let O’Reilly speak and to provide the IG’s office with access to relevant internal White House communications “made it impossible” to “pursue that aspect of the case.”

PEROT: FISCAL NIGHTMARE MEANS USA COULD BE TAKEN OVER

“In it, Perot talks about his fear of the United States being taken over.

“If we are that weak, just think of who wants to come here first and take us over and the last thing I ever want to see is to see this country, our country taken over because we’re so financially weak we can’t do anything and we’re moving in that direct. … We could even lose our country if we don’t get this fixed and straightened out and nobody that’s running really talks about it, about what we have to do and why we have to do it. They would prefer not to have it discussed.

Perot chimed in on some other topics, including:

The prosperous Clinton years: “We were just lucky, going through a period where we had the money flowing. … It was just good luck that made it happened. Right now we’re going through a period of bad luck.”

The Tea Party: “It’s had an interesting impact. … It’s not the solution but I think it was a healthy thing to happen. … It wakes up everybody running for office.””

Via Politico

Democratic National Committee predicts Romney will win first debate vs. Obama


It's a further lowering of expectations ahead of the first debate in Denver next week. Democratic National Committee spokesman Brad Woodhouse tells Fox News he thinks Republican presidential nominee Mitt Romney will win.
Woodhouse says the way the DNC sees it, challengers win the first debate when they are up against incumbents.
"Mitt Romney has had a lot more time to debate, the president has not debated in the past four years in terms, of a campaign debate. I think the president will hold his own, but he's not known for sound bites. And these are 60 second, 90 second responses."
AFP/Getty Images
Mitt Romney
Woodhouse says Democrats are "trying to be realistic about expectations" because the president is "lucky to be able to devote three consecutive hours to debate preparation."
Woodhouse also paints Romney as a good debater and gives him credit for "dispatching Newt Gingrich" who Woodhouse considers a pretty good debater.
Woodhouse said he wants to see Obama "talk from his heart about where the country was and where he wants to take the country."
He's looking to see the president connect with Americans during the debate, the way Woodhouse thinks Obama was able to do in Charlotte during the Democratic National Convention.

“Another Broken Promise, Mr. President?”


Right now, President Obama and Mitt Romney are looking for the one line that will stand out as the defining line of the debate, a line that encapsulates the candidate’s reason for running and all his frustrations with the other guy. It doesn’t necessarily have to be a solution for the nation’s problems. But it does have to immediately resonate with voters. 

In 1980, the quip that stood out was challenger Ronald Reagan’s dismissive, “There you go again...” to President Carter. Folks knew exactly what Reagan meant: that we had seen through Carter’s attempts to attack Reagan’s supposedly “radical tendencies” as a dodge to distract voters from Carter’s responsibility for an ever-weakening America.

This time around it’s a safe bet that President Obama will try out another quip to further characterize Romney as an out-of-touch millionaire. It’s much less clear what quip the Romney team is looking for. His campaign has suffered from lack of clarity all along. The debates would be the perfect moment to fix on one. And frankly, we think we have one, based on the president’s own record.

During the debate on Wednesday night, President Obama will undoubtedly be asked to defend his record. Mr. Romney will be asked to respond. When he does, Romney should wait a beat -- as Ronald Reagan knew how to do so well -- and ask: “Another broken promise, Mr. President?”

Most Americans need to be reminded of just how many promises this president has broken. When you truly believe the government can fix almost anything, you’re bound to promise much more than can be fulfilled. Thus, Romney has a rich field to plow. The only problem will be brevity, because there are so many examples. But allow me to mention a few, each one of which could be condensed and followed by the refrain: “Another broken promise, Mr. President?”

Via: Fox Business


Continue Reading...

MSNBC’s Toure: Forget 2008; Obama Must Be Re-Elected To Show Racial Progress In America


From his spot on the Time Ideas blog, the MSNBC anchor Toure admitted "If President Obama had to run against Senator Obama of 2008, he’d probably be crushed. Back then, Obama seemed superhuman; today he is merely mortal. His victory in 2008 was historic, breaking the race barrier in the nation’s highest office."
Guess what came next. Re-electing Obama is a greater test of whether America is racist than it was in 2008: "But an Obama victory in 2012 would say something even more profound about how far our country has come. Granted, Obama’s election (or not) is merely one of many factors that will tell us where we are on race in America. But it is a big one." Toure put Obama into the metaphor of The Matrix:

In 2008, Obama was Morpheus and America was Neo, a nation of great potential that had lost its mojo and did not understand reality. Obama offered America the red pill — the chance to vote for him — and we swallowed it. In The Matrix, the red pill took effect immediately, and it wasn’t long before Neo revealed himself to be the One — the Jesus-like figure Morpheus had thought he was. In the real world, change happens much more slowly. When Obama took office, it felt as if the sky were falling and we were close to a depression. We avoided that fate. But it has been a rough few years marked by problems (not all of his making) that include a historic recession, Washington gridlock, the passage of controversial health care  legislation, the failure to close the Guantánamo prison, the Middle East explosion and the rhetorical blunder of “If you’ve got a business, you didn’t build that,” by which the great orator handed the GOP a gift it could mangle into a slogan. After all that, it’s impossible to view Obama as a superhuman magical-Negro figure anymore.
Toure raised the "magical Negro" stereotype as the image Obama needed to win -- and he has to shed that to prove America isn't racist. So far, he's impressed that America is putting Obama ahead of Romney in the polls:
All incumbents have natural advantages, but for Obama, incumbency is a double-edged sword. Given the super-human expectations placed on him when he took office, it’s not surprising that he has disappointed some of his followers.

So those poll numbers suggest something very interesting about this country in terms of racial progress. They show American voters embracing a non-magical black man. The magical Negro concept arose from a need to rectify supposed black inferiority with the undeniability of black wisdom by suggesting that wisdom is so alien that its origins cannot be explained by normal scientific methods.

While some may think it complimentary to be considered “magical,” it is infantilizing and offensive because it suggests black excellence is so shocking it can only come from a source that is supernatural. To accept a black leader who is extraordinary yet so human that he cannot be magical is an entirely different prospect than electing a black superhero. Anyone would vote for a superhero who lived up to my mom’s standard of having to be twice as good. But for it to embrace a nonmagical black person who cannot promise anything but hope, intelligence, sweat and experience, now that comes closer to equality. Equality is freedom from having to be twice as good to get ahead.
This is the racial con game that's being presented this time. He doesn't promise anything but "hope, intelligence, sweat, and experience" besides his atrocious record of routine incompetence. So America is pressured: prove you're not a bigot by voting for Obama.
Via: Newsbusters

Continue Reading...

DeMint joins national effort to keep feds from bailing out state pension systems


Illinois Democratic Gov. Pat Quinn is getting hit with a nationwide backlash over his suggestion that the federal government bail out the state employees’ pension program
.
Critics have in the past several days pounced on the suggestion, made last year when Quinn, in announcing the state’s fiscal 2012, said part of Illinois' long-term effort to reduce the estimate $167 billion in under-funded liabilities would be to seek “a federal guarantee of the debt.”

Among those leading the charge is Republican Sen. Jim DeMint. The South Carolina senator has joined the Illinois Policy Institute’s national “No Pension Bailout” campaign -- an effort to stop Congress from attempting to rescue failing state and municipal pension plans.

“Our greatest concern is states will assume they can run their pension systems into bankruptcy and then turn to the federal government for bailout,” DeMint said Thursday.

He also suggested the problem is the result of state legislators trying for decades to win over voters through pension promises based “on accounting methods that would put any business in jail.”

The conservative policy group estimates the total amount of under-funded pension liabilities in states is at least $2.5 trillion, with Illinois leading the nation.

The basic plan floated by Quinn would be for the federal government to rescue the pension program through buying the state’s bonds, which critics say are too financially risky to attract investors.  

Quinn said after announcing the budget that seeking the federal guarantee was only a precaution, then later called the related wording a “drafting error,” according the non-partisan Citizens Against Government Waste, which nevertheless gave the governor its September 2012 “Porker of the Month” award.

Via: Fox News


Continue Reading...

Chart of the Week: Obamacare’s Barrage of Tax Hikes Coming in 2013


The first presidential debate takes place in Denver on Wednesday with a focus on domestic issues, including President Obama’s unpopular health-care law. Obamacare imposes numerous tax increases on Americans, totaling more than $500 billion over a 10-year period.
According to Heritage’s analysis, these higher tax rates on income and investment threaten to slow economic growth. With so much uncertainty already stemming from Taxmageddon, this only adds to the concerns of American families and businesses.
One of the most alarming taxes — a new payroll tax on investment income — goes into effect in January 2013. It was cited by Americans for Tax Reform as one of the “top five worst Obamacare taxes coming in 2013.”

Sunday, September 30, 2012

Phantom Savings Obama’s debt-reduction plan is filled with gimmicks


President Barack Obama is repeating a debunked claim regarding his commitment to deficit reduction, one of the highest priority issues for voters this election cycle.
In a campaign video unveiled Wednesday, the president called for a “new economic patriotism” and touted his “balanced plan to reduce our deficit by $4 trillion over the next decade.”
The claim that Obama has a plan—in the form of his most recent budget proposal—to reduce the federal deficit by $4 trillion over 10 years has been a constant refrain from the president on the campaign trail, and has been echoed by his Democratic allies.
Former President Bill Clinton, for example, praised Obama’s “reasonable plan of $4 trillion in debt reduction over a decade” during his primetime speech at the Democratic National Convention in Charlotte, N.C.
However, as Glenn Kessler, the Washington Post’s in-house fact-checker,has made clear: “The repeated claim that Obama’s budget reduces the deficit by $4 trillion is simply not accurate.”
“Virtually no serious budget analyst agreed” with the Obama administration’s accounting with respect to the $4 trillion figure, Kessler found.
Independent experts panned the president’s budget for its “troubling” reliance on gimmicks and accounting tricks to inflate the magnitude of the savings being proposed.
Keith Hennessey, a former director of the National Economic Council, estimated the true value of Obama’s deficit reduction—minus these gimmicks—to be about $2.8 trillion, and called even that reduced figure a “generous” assessment.
The president’s budget, for instance, takes credit for about $1 trillion in spending cuts that were already signed into law in 2011, and should already be incorporated given that they fall outside the 10-year budget window.
The budget also includes another $800 billion in phantom savings related to the military drawdowns in Iraq and Afghanistan—money that would never have been spent to begin with—and another $800 billion in projected savings due to reduced interest payments on the debt, something not traditionally cited in federal budget documents as a form of government “spending” that can be “cut.”

Can the Polls Be Believed?


A raging war has been underway between Republicans/Romney and the mainstream media (MSM)/polling organizations on the accuracy of many recently reported polls.  Both sides have stridently argued their cases in a vicious skirmish that has been decidedly unequal.  The Republicans, the Romney campaign, conservative talk radio, conservative new media and Fox News have valiantly fought the Democrats, the MSM, some polling organizations and the Obama campaign organization.  Yet given just the megaphones owned by the MSM and Obama's bully pulpit, the battle has been the equivalent of brandishing a popgun at a howitzer...the voting public seemingly is not hearing the battle's thunder or is still not deeply engaged in the election. 
So what are the facts...is there a battle plan, an alliance between Obama, the MSM, and polling organizations designed to destroy Romney's candidacy?  Are the polls presenting biased and inaccurate findings?  Are polling organizations deliberately producing misleading results?  In essence are they in cahoots with Obama, the MSM, and liberal/progressive democrats?  Is there any compelling evidence that the MSM is using polling selectively to promote Barack Obama and other democrat office seekers?  And will the constant and continuous bludgeoning of Romney using biased or inaccurate polls damage his presidential chances?
The basic argument that the polls are biased begins with the 2008 presidential election outcome.  Obama won by capturing an electorate composed of 39% Dems, 32% Reps and 29% Independents; this differential is known as a D+7 spread/party affiliation or D+7 electorate.  Barack Obama also defeated John McCain by 7 points in the popular vote.  In contrast, G.W. Bush defeated J. Kerry in 2004 with an electorate containing 37% Dems, 37% Reps and 26% Inds.  The 2008 election was unique in many respects.  Barack Obama was African American, youthful, a skilled speaker, untested, mysterious, cool and the MSM's chosen one.  Anecdotal evidence of the excitement Obama generated was everywhere; on bumpers, on yard signs, on BHO paraphernalia in convenience stores, in conversations at water cooler and the growing hagiographic comments in the press.  A spread of +7 was a rare event in presidential elections and the largest in decades; it followed eight difficult years, two wars, a financial and economic crisis.

Dollar Falls Most Since 2011


The Dollar Index fell by the most since the first quarter of 2011 after the European Central Bankpledged to protect the euro from unraveling and the Federal Reserve committed to reduce unemployment via open-ended debt buying, which may debase the U.S. currency.
Since July 26, when ECB President Mario Draghi said he would do “whatever it takes” to save the euro, the 17-nation currency rose versus 15 of its 16 most-traded counterparts tracked by Bloomberg. Amid the Fed’s expansion of monetary stimulus, the Dollar Index lost 2.1 percent in the third quarter. The Bank of Japan, which followed the Fed and the ECB in expanding its balance sheet by 10 trillion yen ($130 billion), is scheduled to announce its next policy decision on Oct. 5.
“The ECB announcement to buy one- to three-year bonds in the periphery” shaped currency markets last quarter, George Davis, chief technical analyst for fixed income and currency strategy in Toronto at Royal Bank of Canada, said in an interview. “It was the opening of a new chapter.”
The dollar fell 1.5 percent during the past three months to $1.2866 in New York and touched $1.3172 on Sept. 17, the least since May. The common currency weakened 0.8 percent to 100.21 yen. The dollar lost 2.3 percent to 77.96 yen.

Big Winner

Sweden’s krona appreciated more than all of its major peers versus the dollar this quarter, gaining 5.4 percent. The South African rand had the biggest quarterly decline, slipping 1.8 percent versus the greenback
Brazil’s real has lost 7.9 percent versus the dollar in 2012, almost three times the decline of the rand, the second- biggest loser. The Mexican peso leads all 16 of the dollar’s biggest peers with a gain of 8.4 percent this year.
The New Zealand dollar led all major currencies this month against the greenback, appreciating 3.3 percent. The real increased the least out of 16 counterparts versus the dollar, gaining 0.2 percent.
The euro has fallen 0.7 percent during the past three months against a basket of nine other developed-market currencies, including the yen, pound and Australian dollar, according to Bloomberg Correlation-Weighted Indexes. Japan’s currency has declined 2.2 percent and the greenback has lost 4.3 percent, the most.

U.S. 'DROWNING IN UNEMPLOYMENT,' SAYS FEDERAL RESERVE MEMBER


On Friday, Dallas Federal Reserve President Richard Fisher said the U.S. is "drowning in unemployment" and that the Fed's monetary easing was not the solution; certainty on taxes and regulation are what's needed to jump start hiring. 

Mr. Fisher's comments, delivered during a speech at the University of Texas at Dallas, highlighted the intractable nature of unemployment over the last few years and the folly of so-called "quantitative easing" by the Federal Reserve.
"A short-term fix to the fiscal cliff will do nothing but push out the envelope of indecision and we will continue to be plagued by high unemployment,"  Fisher said.  "We've had a recovery that is quite disappointing....We've never been here before so none of us know how we're going to navigate out of this particular quadrant of the liquidity pool in this ocean of money. And what I'm concerned about is that we may be painting ourselves into a corner," he said.
Mr. Fisher says the sluggish economy and unemployment picture are not the result of the Fed's lack of trying.  Indeed, as Reuters notes, the Fed has held interests rates at zero and bought up over $2.3 trillion in long-term securities to tamp down borrowing costs.  And yet, long-term unemployment remains at historic highs, with one in five American men now out of a job and record high 88,921,000 Americans no longer in the U.S. labor force. 
"We've done a lot," says Fisher. "It's not clear to me despite our theoretical ability to understand the tools very well, in practice, how we are going to get out of this."

Disturbing Stories of the Day: Terrorists’ Easy Pass to NYC; Amtrak Employees Putting Passengers in Danger?

NY
Could the keys to New York City fall into the hands of potential terrorists? That’s the question being asked after a New Jersey locksmith reportedly sold a fireman’s key ring to an undercover reporter from the New York Post. They keys supposedly can control elevators, knock out power to skyscrapers, open subway gates and even give access to One World Trade Center. The 69-year-old man, Daniel Ferraris, sold the keys for $150 dollars and claims he has more keys that he is trying to sell.

In another disconcerting story, Amtrak employees are failing drug tests at an alarming rate. An internal audit found drug and alcohol use among workers is 51 percent higher than the industry average. The majority of employees who tested positive had cocaine and marijuana in their systems. Mechanic and signal operators were the worst offenders. The rail company is promising to increase drug screening this year.


Biden On $16 Trillion Deficit: All Bush’s Fault…


FORT MYERS, Fla. - Vice President Joe Biden placed the blame for the ballooning deficit on the Bush administration today, arguing that the previous administration saddled the country with the burden of trillions of dollars in debt.
"Let's get serious here! How did we get this debt? Ladies and gentlemen, they put two wars on a credit card. Not paying a penny, not paying a penny, even though I introduced legislation to pay for that war. They voted against it," Biden said at the Wa-Ke Hatchee Park Recreation Center. "Two, they voted for a new entitlement program without paying one penny for it, and that was clear. Number 3, they added another trillion dollars in the tax cut for the very wealthy, so what's the result? These are the facts, folks, these are the facts.
"The result was by the time the reins got turned back over to Barack [Obama] and me, they had doubled the national debt in eight years, doubled the national debt in eight years," Biden added.
Biden recounted that within the first week of being in office, Larry Summers, a top economic adviser to the president, warned newly inaugurated President Obama of the deficit the country faced.
"We were sitting in the oval office, and Larry Summers, the chief economic adviser, and the economic team came in and said 'Mr. President, looking at this year's budget you are going to have a trilliondollar deficit.' He said, 'I haven't done anything yet,'" Biden said. "I'm serious. They said, 'No, Mr. President, the budget they passed, the budget they passed in October of last year guarantees no matter what you do you're going to have a trillion dollar debt this year in the budget.' A trillion dollar deficit to be precise."
Earlier in the week, the Washington Post fact checked President Obama's claim that the Bush administration's policies accounted for 90 percent of the country's current deficit and rated the assertion as false, since the president also pushed spending increases and tax cuts that added to the deficit.
Biden also claimed the Obama administration has proposed a plan that would reduce the deficit by $4 trillion over 10 years and has already decreased the deficit by $1 trillion

Kirsten Powers: More Americans will be put in danger if the media doesn’t start challenging the White House on Libya


A few reporters have stepped up, of course. Eli Lake at Newsweek has done a bang-up job, CNN has stuck with the story all week, Tapper had a solid report last night about who knew what and when. But perhaps we’re asking too much from the media generally; there are, after all, Romney gaffes to be covered. And if there’s one thing that America wants and needs from its media right now, it’s more navel-gazing horse-race election dreck.
Not KP, though. Good lord, I think she’s gone rogue:
There are so many unanswered questions, not just about Libya, but also about Cairo. Who is it that Rice thinks “widely disseminated” this “movie”? Surely she can’t believe that the Egyptian Coptic Christian who made the video had the capacity or even desire to put it in the hands of the people who did the inciting. Also, has the administration noticed that the mob in Cairo, so spontaneously upset about the video, just happened to be carrying an Islamist flag to hoist over our embassy? On 9/11. What a massive coincidence.
Also, where did Rice get her very detailed information about the attack in Libya? She referred to the attackers as “a small handful of heavily armed mobsters” who merely took advantage of a growing protest over the video, a protest that now appears never to have occurred, as was reported three days before her appearances. The administration is careful to point out that Rice couched everything she said as being the best assessment at the time. Fine. But where did that assessment come from and how could it have been so wrong, especially when all signs pointed to a terrorist attack?
We know now that before the attacks on 9/11 that killed 3,000 Americans, more attention should have been paid to attacks against the U.S. overseas. These were warnings of what was to come. They say curiosity killed the cat. In this case, lack of curiosity on the part of the American media very well may kill more Americans.
In a different political environment, if Congress wasn’t back home campaigning for reelection and demands for answers from the top weren’t fated to be met with screeching about how the GOP is “politicizing terror” before the big vote, I think the House would already be moving towards holding hearings about what the White House knew. As it is, I wouldn’t expect them to pursue this even after election day; they’ll be consumed with hashing out a compromise on the Bush tax cuts and the sequester. This seems fated to end up off the public’s radar sooner rather than later. Like the man said, a bump in the road.
Here’s KP on Wednesday’s “Special Report” previewing her Newsweek op-ed today. Click the image to watch. Exit quotation from Mike Huckabee: “This White House has been discredited and its credibility, certainly the promises of transparency, have been completely decimated by their actions.”

SOLOPOWER: ANOTHER SOLYNDRA IN WAITING?


The Department of Energy's loan guarantee program has already had two significant failures in the solar industry, the best known being Solyndra. Now a third company, San Jose's SoloPower, seems to be following in Solyndra's footsteps and threatening to leave taxpayers on the hook for millions more.

Last August, as Solyndra was going bankrupt, the Department of Energy issued a loan guarantee in the amount of $197 million to help SoloPower manufacture their thin-film solar power product. Like Solyndra, SoloPower has a nice-looking product. Its panels are thin and flexible and don't require heavy brackets to mount on a roof. And like Solyndra, the company's plans to expand were welcomed by politicians excited about the promise of hundreds of new jobs.
But as was the case with Solyndra, SoloPower's product advantages don't necessarily mean the company will survive stiff competition from China. Industry analyst Andrew Soare of Lux Research tells Fox News that China can still undercut US manufacturers by 30 percent, making it difficult to see how SoloPower can compete in the marketplace. It's this ability to undercut price that doomed Solyndra and Abound, another failed solar power company with a government-backed loan.
William Yeatman of the Competitive Enterprise Institute says of SoloPower, "It looks like it will fail for the same reasons as Solyndra." If it does, taxpayers will once again be on the hook. So far, the stimulus-funded DOE loan program has lost $600 million on solar company bankruptcies.


Poll: Small businesses, manufacturers have bleak outlook on US economy


poll released this week by the National Association of Manufacturers and the National Federation of Independent Business (NFIB) shows that a majority of small business owners and manufacturers think the U.S. business environment is getting progressively worse.
The national survey, conducted between Aug. 13 and Sept. 4, interviewed 800 small business owners and manufacturers and found that 69 percent of them think President Barack Obama’s policies have hurt American businesses and manufacturers, and 55 percent would not start a business today given the current environment.
“That’s something I think for us is not only alarming but really disappointing, because these are the risk takers in the economy,” NFIB vice president of public policy Brad Close told The Daily Caller. “I think that’s a red flag and it should be very troubling to folks, that entrepreneurs are saying they would not do what they did 10, 15, 20 years ago today if they had the choice.”
The survey showed that small business owners and manufacturers think federal regulations, taxes, government spending and the costs of health insurance and energy are the main causes of slow economic growth.
“What we’re up against is a tremendous amount of regulations,” Gordon Hunt, president and chief marketing officer of Illuminating Technologies, told TheDC. “We don’t want airplanes falling out of the sky, but we probably don’t need to know what size the cup can be that you serve Coke to us in the plane.”
Hunt said his company has covered 100 percent of their employees’ health insurance since the day they started, but they may not be able to continue doing that in the face of Obamacare.
“We’re really doing everything we can to keep [our employees] covered, but if our competition decides they’re better off paying a small penalty versus a higher cost of insurance for their employees, they’re going to have a competitive advantage over us,” Hunt said.
Via: Daily Caller

Continue Reading...

Popular Posts