Greece

The President Wants A Raise For Government While The Rest Of Us Cut Back

Let's say the president or owner of a company hires someone specifically to take charge of the company's budget. He promptly spends all the money in the budget on many things not necessary to the core of the company's business. Heck, in fact, let's just say he didn't even draw up a budget, but spent the money as it came in. Then, needing more money to meet the company's actual obligations, he goes out and borrows money — no problem, right? After all, he has revenue coming in each day as customers pay for the company's products and services. He can at least pay off the interest with that money. But then something happens. The company's creditors call (not all of whom have your best interest at heart) and tell him that the company's reached its limit. Follow me, so far? Now, he has no more options. He's run up so much debt, interest payments are the largest item in the budget he's never quite written and the only option left is to ask the boss for more money. Perhaps raise the prices on the company's products and services, even though if he does that, he'll dry up the customer base and end up with less revenue and have to lay-off employees.

Ring a bell? Substitute Barack Obama and the liberals in Congress for the employee and the taxpayers for the boss. They've blown through all the money we've given them — and more — while not even passing a budget for two years. They borrowed and borrowed and can't borrow anymore. So, now, they want, in effect, a raise from us! "Fork over more dough, boss, we're not done yet!"

Oh, yes, they are! The massive, incomprehensible debt rung up the last two years (piled on to a pretty large starting block, granted) threatens our country with a pending, Greece-like economic chaos and/or the further sucking up of hard-earned income to the federal spending machine. It puts at risk the well-being of each and every working family.

Limiting the role, scope and activity of the federal government is the only proven way to solve the impending economic meltdown — not only from a fiscal standpoint, but from fostering the liberty and freedom that encourages job creation. Has anyone ever heard of a corresponding relation to mammoth government and freedom? Mammoth government and economic prosperity? No. It's quite obvious, from history, that the larger government grows, the less liberty a country has; and less liberty means less prosperity.

If our fictional company budget chief were to spend the company silly, then go back and ask for a raise, which is, in essence, what the president is insisting on with his demands for tax increases, how long do you think it would be before the big boss sent him packing? Two years? Okay, right away. But remember. We're the boss. We hired these guys. Our next board meeting is November 2012.

Who Knows More About Capitalism? The Communist Chinese Or Washington Liberals?

It's absolutely astounding, but true: The Communist Chinese, who even know that excessive corporate tax rates kill jobs, is doing a better job at fostering economic growth than the current Washington regime. The further irony is that those now running our government probably think they're doing it the socialist way. None other than hotel magnate Steve Wynn recently went off on CNBC about Utopian panaceas coming out of Washington that are driving the country into bankruptcy. Say what you want about Steve Wynn, but for a man who has little eyesight, he has had the vision to create  thousands of jobs — and wants to create thousands more. But not in America, now; not in this environment. Instead, he's looking to the East fore new opportunities, where he said, things are more stable. He says we're becoming Greece, the health care law will not do what was promised and that the Tea Party movement is legit. Hear his candid and passionate comments in full:

Steve Wynn: Washington's spending has made America unstable.

Representative Forbes Introduces Bill To Terminate TARP And "Stimulus" Spending, And Cut Taxes To Spur Job Creation

What do you call an unfathomable $2 trillion in new government spending when the budget is already trillions in deficit and the nation trillions more in debt? If you're President Obama, you call it "economic recovery." But a real, sober view calls it unsustainable. That is, unless you like the riots and turmoil going on right now in Greece and other countries on the brink of thorough ruin. While 10 percent unemployment, and millions more underemployed, is acceptable to many left-wing economists as the "new normal," most Americans find it unacceptable for a country with so much economic vitality. But there are some in Congress not willing to sit idle, even as the administration refuses to admit problems exist, when some obvious remedies are readily available. One of those Congressman is Virginia fourth district U.S. Representative Randy Forbes. Today the Republican announced he is co-sponsoring H.R. 5029, the Economic Freedom Act. The bill would:

» Terminate the TARP program;

» Repeal the remaining "stimulus" spending;

» Usher in several tax decreases to provide a real economic recovery plan to create jobs;

» Reduce the payroll tax in half for 2010, increasing workers’ paychecks and improving the bottom line for employers which leads to job creation;

» Eliminate the death tax, ensuring that small businesses and family farms will continue creating jobs for future generations;

» Eliminate the capital gains tax, which would encourage the risk-taking and investment that is at the heart of the entrepreneurial spirit; and

» Reduce the corporate tax rate to 12.5 percent, improving America’s competitiveness in the global market and providing incentives for expansion and job creation.

The so-called "stimulus" bill, which was supposed to keep unemployment below 8 percent, has stimulated nothing but government growth, budget deficits and the national debt and the unintended consequence of higher unemployment, has been an utter disaster, needlessly costing hard working Americans their jobs and throwing our books helplessly out of whack. It has been wracked by delays, fraud and incompetence in its management.

The common sense approach of letting people keep more of their income and businesses more of their cash flow would generate a thriving economy through a growing private sector and restore not only America's economic strength and stave off a Euro-like collapse, but also the pride of work so many crave. It's time to stimulate something other than government and debt.

Virginia News Stand: May 10, 2010

Annotations & Elucidations And They Say Nothing Happens On Monday

Virginia news is pretty slack today, but we are mentioned yet again in the media, this time by Washington Jewish Week, about the state police chaplain prayer policy. People can't seem to stop writing about us. It's because we are making an impact and — to the shock of a startled elite — social conservatism is not out of favor with Americans.

Except for those here watching over the impending European implosion, the major news nationally deals with a Supreme Court nominee and one who will vote to confirm her. President Barack Obama selected Solicitor General Elena Kagan to fill the spot of retiring Justice John Paul Stevens. Meanwhile, one who will vote to confirm her, U.S. Senator Bob Bennett (R-Utah), didn't even qualify for his party's primary ballot, the first Tea Party scalp this year. Infiltrating a Republican nomination process may sound predictable, and cheered by liberals who think GOP divisions may stave their pending November doom, but you may be surprised at the next incumbent Tea Party scalp in the queue: Democrat Representative Allan Mollohan (D-W.Va.), a senior appropriator, who has a primary challenge from a state senator gaining traction because of Rep. Mollohan's pork barrelling ear marks and questionable ethics. 

Finally, the health care law has come up short. Already. Again! According to the AP, that guaranteed "kid" coverage (up to age 26!) has run into a snag. Government efficiency and liberal utopia at its best.

News

*Virginia prayer reversal blasted (Washington Jewish Week)

Police chaplains wary of Va. program (Washington Post)

Effort to shrink Virginia government isn't new (Richmond Times-Dispatch)

McDonnell reform commission chairman pick sparks protest (Norfolk Virginian-Pilot)

1st District GOP candidate: Lawmakers guilty of treason (Woodbridge/Manassas News & Messenger)

McDonnell backs O'Brien in Northern Virginia Senate primary (Washington Post Virginia Politics Blog)

Saxman now a lobbyist (Staunton News Leader)

National News

Obama Nominates Kagan to Seat on Supreme Court (Wall Street Journal)

Conservatives Note Kagan’s Anti-Military Views, Lack of Judicial Experience (CNSNews.com)

Federal Reserve opens credit line to Europe (AP/GOPUSA.com)

Premiums may undermine coverage guarantee for kids (AP/GOPUSA.com)

Anti-incumbent mood challenge to veteran Democrat (AP/GOPUSA.com)

Conservatives focus on KY following Bennett defeat in Utah (AP/GOPUSA.com)

Analysis

Supreme Court Nominee Elena Kagan (Ed Whelan/National Review's The Corner Blog)

The Great Disentangling Has Begun: What Bob Bennett’s Defeat Means and Does Not (Erick Erickson/RedState.com)

Commentary

Will America Follow Greece? (Star Parker/GOPUSA.com)

Arizona Law Also Happens To Be Good Politics (Debra Saunders/GOPUSA.com)