http://www.google.com/hostednews/ap/article/ALeqM5iuYLH41dM6OnZ2x5j8Vmyo3QVWOAD98BE0SG0
Of course Nancy wants the panel to appear bipartisan. That way she, Obama and Reid can blame the economy on Bush... if there are 5 Republicans and 5 Democrats - wonder if anyone will point the finger at Barney Frank and anyone who voted for those insane lending policies that got us here.
Will this ever stop?
Brian
Can't say we didn't warn you.
http://firstread.msnbc.msn.com/archive/2009/05/22/1940733.aspx
Here comes cap and trade. The tax on emissions - which of course, means the tax on everything from heating and air conditioning to truck fumes (which by the way, deliver food, goods, mail, etc.). It is out of committee - and will go to the House floor - and then the Senate. Obama has already expressed his desire to sign this. Think this will help the recovery? By the way, where are those positive signs...
Nancy Pelosi delivers again - while not wanting to answer questions on waterboarding... and the press just let's her go.
What can I tell you? Elections have consequences.
Brian
This accompanies the last post about California and the latest federal bailout.
For those who don't live on the East Coast - there is a beeline of former private sector workers and jobs headed out of NJ. They don't want to pay the incredible taxes, property taxes, fees and other goodies for the privilege of living and working here. They go to the Carolina for the promise of better winters and much lower cost of living. They go to Florida for no sales tax. They go to Delaware and Eastern PA for the same reason if they still need to work in NJ.
In the end, doesn't money always flow to the better deal? Isn't that why companies don't manufacture here anymore - why telemarketing and call centers only happen on the other side of the pacific?
But now - CHANGE is coming to these refugees! You guys thought you could run. How dare you not want to do your "patriotic duty" and support every insane political job, and civil servant the ruling class dictates must be served? Go ahead and move to North Carolina, to Hilton Head, to Marco Island, to Asheville or even Easton. But through your friendly federal government - you will still be paying Sacramento, Albany and Trenton for the folks you left behind. Why should they have to cut spending because you selfishly decided not to support them? They won't - and thanks to President Obama - they don't have to. Their state legislatures will keep on thinking up new and sillier ways to spend billions - and you'll still be contributing. The feds (read - YOU) will end up picking up the tab for all these places. And why, because those goodies and the votes they ensure are critical to retaining power in Washington - and that is what it is all about, right?
So, when you're grinning as you drive South on I-95 or west on I-78, think twice. You can run, but you can't hide. You will still pay, more and more and more. We just can't cut spending. These services are far too vital.
Brian
http://www.realclearpolitics.com/articles/2009/05/21/californias_dependency_culture_96597.html
Here's George Will on the California "situation."
25 years ago, California was the epitome of American life. Sunshine, sea air, redwoods, prosperity - tech millionaires - admin assistants with stock options - a former governor in the White House showing us all how it's done. "The west coast has the sunshine and the girls get so tan..."
Now, California is in debt - bad, bad debt, and virtually bankrupt. How is this possible? How could policy makers just continue to spend cash they don't have? Weren't we told that California is the worlds 8th largest economy? Well, yes. But when you are many, many billions in debt - and don't change your behavior - here goes.
About five years ago, California had brownouts resulting from a lack of available power. In some sense, this episode contributed to losing Gray Davis his job. Have they built any power plants since? Nope. Considering their population has tripled since 1970 - and they haven't built one power plant in that time - what do any of us expect?
But it really isn't the policy makers - it IS those who elect them - US. Consider this from Will's article, "California's voters are complicit in their state's collapse. They elect and re-elect the legislators off whom public employees unions batten. Also, voters have promiscuously used their state's plebiscitary devices to control and fatten the budget. Last November, as the dark fiscal clouds lowered, they authorized $9.95 billion more in debt as a down payment on a perhaps $75 billion high-speed rail project linking San Francisco and Los Angeles -- a delight California cannot afford."
So - last November - the banking and real estate systems already collapsed - California voters approved a $75B rail project... Where was that cash coming from?
It is the same in NJ and NY. NJ has the $4.5B Lautenberg train switching station in the Meadowlands - complete with its own exit off the NJ Turnpike. Unfortunately since there are no parking lots in the area - no one uses it. Oh well. It is nicely decorated in art deco style. Right now, the state has a light rail system between Trenton and Camden. The current cost per rider - $200/rider. The current price per rider - $1. Good investment? And how about that plan that the 3 mouseketeers - Lautenberg, Menendez and Corzine back - $35B for a new train tunnel into New York City... As candidate Steve Lonegan pointed out in a debate - what a great project - FOR NEW YORK! Ugh.
But "we" keep electing these guys - in California, New York, New Jersey, Massachusetts... And then we throw our hands up and can't figure out why things are the way they are.
Don't worry - the feds who promised "CHANGE" will come to the rescue in the electorally critical states. But will people in North Dakota (which is running a $3B budget surplus in this economy) want to pay that money to support never-ending spending in these other states? How about Texans, folks in Alabama and Mississippi? Why, this theory is almost like paying your mortgage on time every month - and then getting to pay your neighbors mortgage when he doesn't pay...while he drives a Mercedes and you have a 10-year old Hyundai...
Wait a minute. The brave men and women who died protecting us - who we remember this Monday probably didn't have this in mind. Just a hunch.
Brian
This blog may be down for a bit this weekend as we're doing a little maintenance.
Have a great long weekend.
Brian
OMG - The New York Times is biased. The sky is blue, Keith Olberman is a liberal and Fox News loves George Bush.
http://www.realclearpolitics.com/articles/2009/05/20/all_the_news_thats_fit_to_suppress_96580.html
Well, they sell Obama merchandise? I guess the Bush stuff didn't sell well to their dwindling audience...
But, it is the Internet that is the cause of their woes...
Brian
Well, why not just let them go? I am sure they're nice guys from nice families. Everyone makes mistakes. Perhaps they had rough childhoods...
I thought the Democrats stood on principle and had 59 Senate votes -soon to be 60 (Al Franken). You mean - they just want to be re-elected?
One more thing. Would John McCain please be quiet! He does not speak for conservatives - I am pretty sure that was proven last November.
Brian
http://www.washingtonpost.com/wp-dyn/content/article/2009/05/19/AR2009051901404.html
They are at it again. This time with fuel efficiency mandates by 2016. Now, for the "little 3" if they took the government cash, do they get to tell the President that this will make their cars less affordable?
What if you built a car that achieved good gas mileage and no one bought it? Would the world be a better place?
How will these companies deal with their most pressing problems - union commitments - and still invest money into remaking a product line and brands?
Can they actually build a car that people would want at a price they are willing to pay - and still be compliant?
What is the "flexibility" in compliance the piece mentions...
How do they get the $600 per car in extra production costs back without price increases? Will the UAW on their Boards actually let them cut jobs, wages or labor costs in general? Don't those guys have a conflict?
I would not run out and buy Chrysler or GM stock now... but hey, that's just me.
Brian
http://www.cnbc.com/id/30821477
So what makes someone an "analyst"?
The financial analysts never saw the banking situation coming last September - of course, now they temper that and say all their clients were "out." Sure they were - no one actually lost any cash, right?
So now, real estate analysts are surprised that housing starts dropped significantly in April and so did permits on new construction.
Why would this surprise anyone outside of DC (where when they wish it, it happens and the NYT reports it happened BECAUSE they wished it)?
Who buys a house when they don't have a job? Or even when they are not sure they will have a job next month?
Answer - no one who isn't dealing with FANNIE MAE or Chris Dodd personally.
So inventories climb - meaning prices drop further - nasty old law of supply and demand.
And still no bottom. Of course, stocks are doing well. When will the fleece broom come out again?
Brian
http://www.realclearpolitics.com/video/2009/05/18/giuliani__christie_see_gop_hope_in_new_jersey.html
Sean Hannity is one of the reasons the GOP is where it is . To just back anyone or anything that says "Republican" is simply not being intellectually honest. He and most of the rest of FNC simply went along with 8 years of Bush - while he spent us into oblivion - now they're against Obama - because he is spending us into oblivion!
I have posted this repeatedly. The problem Republicans are having is not governing as they campaigned. Why should any voter trust them at this point? And Chris Christie, if given the chance, will do more of the same.
Someone please inform me why being a US Attorney is a background we need as governor? Where is the budget or economic experience? Where is any semblance of a long term plan to attract business and get out of the way so private sector jobs can be created? Where is his CEO experience?
Simple answers. This isn't a background for a CEO. But the "party" has endorsed Christie. So here goes Hannity and his new best friend. And these guys complain about MSNBC and CNN being one-note?
Here is a lock-down prediction from someone who has lived his entire life in the "garden state." If Chris Christie is nominated - he will lose to Corzine by 6-8% of the vote in November. The reason? He is democrat-lite - in the mode of Christine Whitman - who was an unmitigated disaster as governor - running up municipal and county mandates while running around talking about reducing state taxes. My property taxes more than doubled on her watch. Doubled - and they weren't low to begin with.
But hey - she and Christie call themselves Republicans... I am sure Chris Christie is a nice man and a damn good lawyer. But that is not what we need while we're $37Billion in debt!
And FNC will be talking about the Democrat "hit machine" on election night.
Brian