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During the last several decades, liberal Democrats have dominated California politics, but the pinnacle of their power was reached in the first years of this century. Gray Davis was Governor, all 5 statewide offices were held by Democrats and both state legislatures were dominated by Democrats. California had become the Petri dish of liberal wish fulfillment.
Budgets were crafted on [...]
Posted by Jerry Pomeroy as Budgets, Economics, Government Blunders at 5:00 PM UTC
The government of the United States is awash in a sea of red ink. The current debt ceiling of $12.1 trillion will be breached shortly, an event laced with foreboding. With the national debt forecast to exceed $20 trillion during the next decade, a rational person would expect someone in Washington to call a halt [...]
Posted by Jerry Pomeroy as Budgets, Economics at 3:04 PM UTC
Two months ago I predicted that the “Cash For Clunkers” program would not produce the results trumpeted by the Obama administration. Rather, it would be yet another government boondoggle. Well, lo and behold, the Wall Street Journal just this Sunday past confirmed the lunacy of destroying assets as a way to create wealth. Here’s what [...]
Posted by Jerry Pomeroy as Best Of the Web, Economics, Government Blunders at 6:40 PM UTC
Two videos and one article on the looming problem of hyper-inflation:
Inflation Could Spell End of U.S. Financial System
FORT LEE, N.J., Sept. 25 /PRNewswire/ — The National Inflation Association today released the following statement to its members:
“It’s unbelievable how Federal Reserve Chairman Ben Bernanke said that the U.S. recession is ‘very likely over,’ but once again [...]
Posted by Jerry Pomeroy as Best Of the Web, Economics, Video at 5:42 AM UTC
The National Debt Road Trip:
Paul Krugman, noted columnist for the New York Times, has come out in favor of another stimulus plan. The proverbial feather could knock me down. How can such a smart man be so wrong? I guess I shouldn’t be surprised. America’s intelligentsia of the 1920s and 1930s bought communism hook, line and [...]
Posted by Jerry Pomeroy as Economics, Government Blunders, Obama Presidency, Taxation, Video at 6:59 PM UTC
Whatever one may think about President Barack Obama’s politics, one thing is certain. He is a man of action. Following in the tradition of Franklin Delano Roosevelt, Obama has an agenda to pursue and the determination to relentlessly push for its implementation. At their inaugurations, both men faced dire economic circumstances not of their making. Both [...]
Posted by Jerry Pomeroy as Economics, Obama Presidency at 7:30 PM UTC
Making things worse:
Governments all over America are struggling during this economic downturn. Without exception, less economic activity means fewer dollars available for public expenditures. And, because most municipalities and states in our fair land spend as much or more than they receive in good times, a recession like this one means red ink by the [...]
Posted by Jerry Pomeroy as Budgets, Economics, Government Blunders, Taxation at 11:51 AM UTC
Watch this and consider if we really want the Univacs running Washington to control healthcare, or anything else for that matter:
Do not adjust your computer screen. As incredible as it sounds, the headline is correct. Speaking in New Mexico yesterday, President Obama laid out a powerful case against deficit spending. Sounding every bit like a Ron Paul [...]
Posted by Jerry Pomeroy as Budgets, Economics, Taxation, Video at 7:04 AM UTC
Is sound produced by a falling tree if no living thing is within earshot? Philosophers have debated this and other abstruse questions for, well, too long. However, the conundrum lends itself to contemporary American political machinations. Trees, in the form of unmistakable governmental blunders, are plopping down all over the place, yet no one seems to appreciate the inevitable consequences certain to hammer Americans [...]
Posted by Jerry Pomeroy as American Dependence, Budgets, Economics, Government Blunders, Obama Presidency at 5:26 PM UTC
Following the worldwide debacle known as the Second World War, having a permanent forum available for nations to discuss and work out differences seemed like a good idea. The failure of Woodrow Wilson’s League of Nations had been blamed for the outbreak of hostilities just two decades after the conclusion of ”The War To End All Wars.” [...]
Posted by Jerry Pomeroy as Economics, Energy, Global Warming, Obama Presidency at 12:26 PM UTC